Wisconsin Form of Indemnification Agreement by Kyle Technology Corp is a legally binding document that outlines the terms and conditions under which Kyle Technology Corp agrees to indemnify and hold harmless its employees, directors, officers, and agents (hereinafter referred to as "Indemnities"), against any claims, liabilities, damages, costs, and expenses incurred as a result of performing their duties on behalf of the company. The agreement provides a comprehensive framework for the indemnification process, ensuring that all parties involved are protected from legal and financial risks. It covers various scenarios where the Indemnities may face legal action or incur expenses due to their actions or decisions made within the scope of their employment or service to Kyle Technology Corp. The Wisconsin Form of Indemnification Agreement by Kyle Technology Corp includes key provisions such as: 1. Indemnification Scope: This section specifies the circumstances in which the Indemnities will be eligible for indemnification, including claims arising out of actual or proposed mergers, acquisitions, contracts, or other business transactions involving Kyle Technology Corp. 2. Advancement of Expenses: The agreement allows Kyle Technology Corp to advance funds to the Indemnities to cover legal expenses, investigation costs, and other related charges incurred during the defense or settlement process. 3. Insurance Coverage: It is encouraged that the company provides or maintains directors and officers (D&O) liability insurance coverage, ensuring that the Indemnities are protected against any claims and necessary expenses. 4. Procedures for Indemnification: The agreement outlines the steps and procedures that both parties must follow when seeking indemnification, including notifying Kyle Technology Corp promptly about any legal proceedings or claims. 5. Limitations on Indemnification: Certain limitations and restrictions on indemnification are also specified. For instance, indemnification may not be provided if the Indemnity is found guilty of intentional misconduct, fraud, or illegal activities. While the aforementioned description provides a general overview of the Wisconsin Form of Indemnification Agreement by Kyle Technology Corp, it's important to note that there may be different variations or versions of the agreement tailored to specific roles or circumstances within the company. These variations may include specific provisions for key executives, board members, or employees in different positions, each addressing their unique responsibilities and potential risks. Keywords: Wisconsin, form of indemnification agreement, Kyle Technology Corp, indemnification scope, advancement of expenses, insurance coverage, procedures for indemnification, limitations on indemnification, legal protection, financial security, legal expenses, indemnification process.
Wisconsin Form of Indemnification Agreement by Kyle Technology Corp.
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How to fill out Wisconsin Form Of Indemnification Agreement By Kyle Technology Corp.?
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Example of Indemnity in Business If the building sustains significant structural damages from fire, then the insurance company will indemnify the owner for the costs to repair by way of reimbursing the owner or by reconstructing the damaged areas using its own authorized contractors.
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.
How to Write an Indemnity Agreement Consider the Indemnity Laws in Your Area. ... Draft the Indemnification Clause. ... Outline the Indemnification Period and Scope of Coverage. ... State the Indemnification Exceptions. ... Specify How the Indemnitee Notifies the Indemnitor About Claims. ... Write the Settlement and Consent Clause.
Example: Indemnify and Hold Harmless Clause The supplier agrees to indemnify and hold harmless the customer against all claims arising in respect of any injury, death, sickness or ill-health caused to or suffered by the customer and its personnel as a result of performance or non-performance of this Agreement.
On this page you'll find 61 synonyms, antonyms, and words related to indemnification, such as: compensation, indemnity, restitution, benefit, counterclaim, and coverage.
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.
Service Provider hereby releases, indemnifies, defends and holds harmless Owner and the other Owner Indemnified Parties from and against any and all Liabilities (a)to the extent attributable to or arising out of the gross negligence or willful misconduct of any Service Provider Indemnified Parties or (b)for personal ...
Each party shall indemnify the other party from any and all claims, causes of action, suits, damages or demands whatsoever, arising out of any breach of this agreement by the indemnifying party.