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Such agreements provide for indemnification of officers for personal liability for actions taken on behalf of the corporation. The board will also approve separate resolutions that approve indemnification for decisions made by directors. Indemnity agreements are included in the post-incorporation processes of companies.
Directors and officers liability insurance (also written directors' and officers' liability insurance; [1] often called D&O) is liability insurance payable to the directors and officers of a company, or to the organization itself, as indemnification (reimbursement) for losses or advancement of defense costs in the event an insured suffers such a loss as a result of a legal action brought for ...
An indemnity case arises when an individual is obliged to pay for the loss or damage incurred by another person in an event of an accident, collision etc. The duty of indemnity generally originates from the agreement in between insurer and insured which protects the insured against any liability, damage or loss.
A master service agreement, sometimes known as a framework agreement, is a contract reached between parties, ... To provide indemnification. It means that one company ...
17% required the customer to pay legal bills of the maker (indemnification), but not vice versa; Among the terms and conditions of 31 cloud-computing services in January-July 2010, operating in England: [6] 27 specified the law to be used (a US state or other country)
26. ENTIRE AGREEMENT. This Agreement and any supplemental terms constitute the entire agreement between you and us concerning the subject matter of this Agreement, which may only be modified by us. 27. GENERAL TERMS. (a) This Agreement shall not be governed by the United Nations Convention on Contracts for the International Sale of Goods.
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