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Executive and Director Indemnity Agreement

Executive and Director Indemnity Agreement

Name: Executive and Director Indemnity Agreement
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.66 (481 reviews)

Category:

Contracts - Indemnification

State:

Multi-State

Control #:

US-C-I-9000-8

Format:

Instant download

Description

This is a sample Executive and Director Indemnity Agreement. An indemnity agreement is a contract that protects one party of a transaction from the risks or liabilities created by the other party of the transaction. Hold harmless agreement, no-fault agreement, release of liability, or waiver of liability are other terms for an indemnity agreement. The Indemnitee in this agreement is an Executive Officer, director and/or agent of the Corporation (or a subsidiary of the Corporation), as the case may be from time to time, and performs a valuable service for the Corporation in such capacity (or capacities)‌The form may be customized to suit your needs. An Executive and Director Indemnity Agreement is a contract between an executive or director of a company and the company itself. It is a way for the company to protect itself against any potential losses or damages that may be incurred as a result of the actions or decisions of the executive or director. The agreement states that, in the event of a claim or lawsuit against the executive or director, the company will provide funds or other assets to help cover legal costs and other expenses. There are two main types of Executive and Director Indemnity Agreements: Standard Indemnity Agreements and Enhanced Indemnity Agreements. The Standard Indemnity Agreement provides a baseline level of protection, while the Enhanced Indemnity Agreement provides additional protection and flexibility. Both agreements may be used to protect the executive or director from personal liability for their job-related activities.

An Executive and Director Indemnity Agreement is a contract between an executive or director of a company and the company itself. It is a way for the company to protect itself against any potential losses or damages that may be incurred as a result of the actions or decisions of the executive or director. The agreement states that, in the event of a claim or lawsuit against the executive or director, the company will provide funds or other assets to help cover legal costs and other expenses. There are two main types of Executive and Director Indemnity Agreements: Standard Indemnity Agreements and Enhanced Indemnity Agreements. The Standard Indemnity Agreement provides a baseline level of protection, while the Enhanced Indemnity Agreement provides additional protection and flexibility. Both agreements may be used to protect the executive or director from personal liability for their job-related activities.

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Indemnification is an undertaking by the company to defend the director and officer against the cost of certain claims, including legal fees, litigation awards and settlement costs.

The company can indemnify directors against any further liabilities incurred by the director; and regulatory proceedings.

Indemnification is, generally speaking, a reimbursement by a company of its Ds&Os for expenses or losses they have incurred in connection with litigation or other proceedings relating to their service to the company.

A director and officer indemnification agreement is a contract that allows executives to protect themselves from claims made against them while performing job. Indemnification means that in the event a lawsuit is filed against a company, the indemnified party is "held harmless" from claims.

Section 145(b) empowers a corporation to indemnify its directors against expenses incurred in connection with the defense or settlement of an action brought by or in the right of the corporation, subject to the standard of conduct determination, and except that no indemnification may be made as to any claim to which

Directors' and officers' liability insurance ? also known as D&O insurance ? covers the cost of compensation claims made against your business's directors and key managers (officers) for alleged wrongful acts.

An indemnification agreement, also called an indemnity agreement, hold harmless agreement, waiver of liability, or release of liability, is a contract that provides a business or a company with protection against damages, loss, or other burdens.

Company shall indemnify Executive against any liability incurred in connection with any proceeding in which the Executive may be involved as a party or otherwise by reason of the fact that Executive is or was serving as Chief Executive Officer to the extent permitted by the Company's articles of incorporation, bylaws

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The provisions of this Section 6. Sample Business Contracts.Executive and Director Indemnity Agreement - Rackspace. Form of Indemnification Agreement for directors and executive officers from COMSCORE, INC. Filed with the Securities and Exchange Commission. This agreement can be used for both officers and directors of the corporation. Indemnification Of Directors And Officers. This template, which is drafted with terms more favorable to the executive, contains practical guidance, drafting notes, and an alternate clause. Indemnification Under Public Law 85-804 (Apr 1984). Advancement and Indemnification Agreements Should Spell Out Whether They Cover Former Directors and Officers.

Executive and Director Indemnity Agreement

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