17-103F 17-103F . . . Indemnification Agreement with corporation's directors and two of its officers and to authorize corporation to enter into similar indemnification agreements with its future directors and nominees for director and with certain present and future officers. The stated reason for this proposal is because management believes that existing indemnification protection provided by Florida Business Corporation Act is inadequate in certain respects
Vermont Form Indemnification Agreement by Holiday RV Superstores
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Multi-State
Control #:
US-CC-17-103F
Format:
Word;
Rich Text
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FAQ
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.
It is primarily intended to protect the person who is providing goods or services from being held legally liable for the consequences of actions taken or not taken in providing that service to the person who signs the form. Indemnity clauses vary widely.
Indemnity Agreement: Although similar to a hold harmless agreement, an indemnity agreement is an arrangement whereby one party agrees to pay the other party for any damages regardless of who is at fault.
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.
Meaning of indemnification in English the act of paying or promising to pay someone an amount of money if they suffer damage or loss: They asked for some form of indemnification in case the proposed deal was blocked. The government has allocated large sums for the indemnification of farmers whose crops are destroyed.
A typical example is an insurance company wherein the insurer or indemnitor agrees to compensate the insured or indemnitee for any damages or losses he/she may incur during a period of time.
What is indemnification? Indemnification, also referred to as indemnity, is an undertaking by one party (the indemnifying party) to compensate the other party (the indemnified party) for certain costs and expenses, typically stemming from third-party claims.
An indemnification clause is a legally binding agreement between two parties specifying that one party (the indemnifying party) will compensate the other party (the indemnified party) for any losses or damages that may arise from a particular event or circumstance.