Sample indemnification clause for nonprofit

Nonprofit Bylaw Provision : Indemnification. A nonprofit organization might include in their bylaws a clause such as this: Indemnification. The Organization agrees to indemnify, defend and hold harmless the board members, its officers, directors and employees , from and against all liability, loss , cost or expense (including attorney’s fees ) by reason of liability imposed upon the Organization, arising out of or related to organization’s activities, whether caused by or contributed to by the members or any other party indemnified.

It seems WAY over the top to me. There won’t be any board members who read it OR understand it (in my view). What is nonprofit indemnification? Why is an indemnification clause important? Mutual Indemnification.

See full list on utsystem. This indemnity is for use in materials transfer agreements, University transferring. This paragraph adds obligations concerning notification and defense of claims and cooperation.

It may be added to any indemnification upon Sponsor’s request or at the discretion of the component. Both parties agree that upon receipt of a notice of claim or action arising out of the activities to be carried out pursuant to the project described in Attachment A, the party receiving such notice will notify the other party promptly. The Warrant Agent shall be liable hereunder only for its own gross negligence, willful misconduct or bad faith. The Company agrees to indemnify the Warrant Agent and save it harmless against any and all liabilities, including judgments, costs and reasonable counsel fees, for anything done or omitted by the Warrant Agent in the execution of this Agreement, except as a result of the Warrant Agent’s gross negligence, willful misconduct or bad faith. First and foremost, you need to read the clause so that you can be certain that you fully understand its language.

Sponsor agrees, at its own expense, to provide attor. Get Approved Legal Docs - 1 Free! The organization makes a financial commitment to rely on its own resources to pay a board member’s legal costs in case he is called as a defendant in a lawsuit relating to his. Even if an organization has all the right pieces in place, there are some specific instances where individuals could be found liable. Under the Act, this means that if you are sued individually in your capacity a director of a nonprofit corporation and you are found to be immune from liability, the nonprofit corporation must reimburse you for your legal expenses for defending the lawsuit.

In this context, there are several types: 1. Broad form indemnity agreements (this is also commonly refererred to as the “no-fault” agreements), is always common among construction contracts wherein any instances of damages or injuries will be placed on to the sub-contractors. Indemnity agreements are found commonly in construction contracts. An indemnification clause may include any, or all, of three distinct obligations, including to (1) indemnify, (2) defen and (3) hold harmless the client. Federal Non-Profit Associations A federal non-profit organization could alternatively be organize pursuant to the Canada Cooperatives Act1 as an association, in which case the indemnification provisions are very similar to those contained in the CBCA.

The undersigne a majority of whom are citizens of the United States, desiring to form a Non-Profit Corporation under the Non-Profit Corporation Law of ___, do hereby certify: First: The name of the Corporation shall be ____. A consulting agreement indemnification clause is an important concept to be aware of if you own a business and find yourself entering into a contract with a consultant. Search For Indemnification Agreement Sample Here. Professionally Formatted Business Forms.

Indemnification which includes defense and hold harmless provisions are fundamental to well-drafted contracts since these clauses stipulate which party provides compensation for loss that may result. This Risk Note addresses the indemnification clause while another risk note addresses insurance clauses and sample wordings. The event might lead to special risk or exposure that justifies special attention. The extent of the risk might be unknown, and not even be capped by an exclusion of liability in the contract.

Sample Indemnification Provisions for Ministry Bylaws. These sample indemnification provisions are available for your ministry to share with your attorney as a starting point for consideration. INSURANCE COVERAGE AND INDEMNIFICATION OF MINISTRY LEADERS, EMPLOYEES AND VOLUNTEERS. Some of the most common reasons to use.

An indemnification provision, also known as a hold harmless provision, is a clause used in contracts to shift potential costs from one party to the other. In a mutual indemnification , both parties agree to compensate the other party for losses arising out of the agreement to the extent those losses are caused by the indemnifying party’s. Who, This is to write you that this letter is to guarantee that the digital marketing job that we have asked and contracted for with you is finalized.

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