Employee Indemnity Agreement Sample

They define various terms and conditions which help in safeguarding one s business from unexpected lawsuits. This agreement shall be unlimited as to amount or duration and it shall be binding upon and inure to the benefit of the parties their successors assigns and personal agents and representatives. An indemnity agreement is a contract where those involved agree that the other be held harmless for losses or damages or where the parties agree that the other is legally exempt from losses or damages incurred.

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The indemnification provided by this agreement shall be in addition to any rights to which indemnitee may be entitled under the company s certificate of incorporation its bylaws as now hereafter in effect any other agreement any vote of stockholders or disinterested directors the general corporation law of the state of delaware or otherwise.

Employee indemnity agreement sample. More than just a template our step by step interview process makes it easy to create an indemnity agreement. Introduction to indemnity agreement. Indemnity agreement is written when a person wants the other party not to hold him responsible in case of a liability. A under this agreement the indemnified obligations are the obligations of employee to pay any amount to the former employer in respect of any claim by the former employer on or after june 19 2007.

Indemnity agreement general form indemnity to. Undersigned agrees to pay all reasonable attorneys fees necessary to enforce said indemnification. Name of person receiving indemnity the indemnitee for good and valuable consideration the receipt and sufficiency of which is hereby irrevocably acknowledged the undersigned hereby indemnifies and saves harmless the indemnitee from and against any and all claims demands actions suits losses costs charges expenses damages and liabilities whatsoever continue reading. Employment contract indemnity clause library this employment agreement indemnity clause library is provided below as a free resource to attorneys and business professionals to customize their legal contracts with specific language found in these clauses.

An indemnity agreement enables to transfer risk from one party to another easily. Applicable law this contract shall be governed by the laws of the state of in county and any applicable federal law. Business people enter into indemnity agreement samples with other parties to protect themselves against employee lawsuits or claims for damages to goods or vehicles. Save sign print and download your document when you are done.

Arising under i either of the foster wheeler stock agreements including without limitation any amounts under section 13 of each of the relevant agreements with respect to profits realized from the sale of shares of the former employer in january 2007 ii the foster wheeler employment. You can understand this agreement by assuming that you are landlord and when a new tenant moves into your building you ask him to sign the indemnity agreement. Each party to this indemnity contract hereby warrants that they both have the legal power and right to make this agreement and bind each party.