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Executive Liab & Indemnification Form
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People also ask
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What is the indemnification clause for managers?
The Principal shall indemnify the Manager and hold the Manager harmless from and against all actions, claims, demands, liabilities, losses, damages or expenses of whatever kind, including without limitation, attorneys' fees, sustained or incurred by the Manager or any of its nominees in carrying out its authority or ...
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What is an example of an indemnification clause?
Sponsor shall indemnify and hold Institution, System, their Regents, officers, agents, and employees harmless against any and all claims, demands, damages, liabilities and costs which directly or indirectly result from, or arise in connection with, any negligent act or omission of Sponsor, its agents, or employees, ...
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What is the executive liability policy?
Executive liability insurance is designed to provide financial compensation if legal action or a disagreement associated with your organization's highest-ranking employees requires payment.
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What is an indemnification clause for executive?
A Standard Clause to be inserted into a written executive employment contract detailing the corporate employer's obligation to reimburse the executive for losses incurred in legal proceedings related to service as a corporate director or officer.
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What is the indemnification clause to the extent?
Limited Form: Indemnity “To the Extent” Caused by the Contractor. The limited form indemnity clause makes the contractor liable for damages to third parties “to the extent” the damages were caused by the contractor.
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What is the indemnification clause for a contractor?
Indemnification agreements, or “hold harmless” clauses, shift risks or potential costs from one party to another. One party to the contract promises to defend and pay costs and expenses of the other if specific circumstances arise (often a claim or dispute with a third party to the contract).
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What is the indemnification clause in M&A?
Understanding Indemnification Clauses They generally cover losses that result from bsignNowes of warranties, representations, or covenants—in other words, if the facts of the deal were not as represented, or a party fails to live up to the terms they agreed upon.
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What are the requirements for an indemnity clause?
This obligation requires the indemnifying party to: Reimburse the indemnified party for its paid costs and expenses, referred to as losses. Provide advance payment to the indemnified party for its unpaid costs and expenses, such as liabilities, claims, and causes of action.
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