As a result, there may be reporting periods in which a liability is recorded for indemnified
tax exposures without recognition of a respective indemnification asset.
That is, the person to be indemnified
must act within the scope of his or her employment in order to be entitled to indemnification.
If the indemnification provision only indicates that the "association" must be indemnified
, this language may not be sufficient to provide protection for association officers, directors, staff, and volunteers.
The FDIC argued before the court that Grant may look to be indemnified
only by the individual directors and officers of Rooks and not Rooks itself or the FDIC as successor to Rooks.
The CoRE Network combines subscription-based support for tested, version-controlled and indemnified
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One question that frequently arises is whether, and to what extent, a party is entitled to be indemnified
for damages caused, in whole or in part, by its own negligence.
In a typical D&O policy, "side A" provides coverage for loss incurred directly by the individual directors and officers, while "side B" provides reimbursement to the company when it indemnified
its directors and officers, and "side C" provides entity coverage directly to the company.
Carney is seeking damages as well as asking to be indemnified
by the defendants for any liabilities and expenses incurred in connection with the girl's lawsuit.
Eckert spent $3 million in legal fees in his unsuccessful defense of the suit by Salovaara, and sought to have those fees indemnified
by partnerships owned equally by himself and Salovaara.
The company stated that under Rockwell International's contract with the Department of Energy, it will be indemnified
by the United States government for the verdict and other costs associated with the case.