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Personal Indemnification Agreement
"I need a Personal Indemnification Agreement to protect me as an independent consultant when I join the board of a fintech startup from January 2025, with specific coverage for technology advisory services and regulatory compliance decisions."
1. Parties: Identifies and defines the indemnifier and indemnitee
2. Background: Sets out the context and purpose of the indemnification agreement
3. Definitions: Defines key terms used throughout the agreement including 'Loss', 'Claim', 'Indemnified Party'
4. Scope of Indemnification: Details what losses, liabilities, and circumstances are covered by the indemnification
5. Duration: Specifies the term of the indemnification and any survival provisions
6. Claims Procedure: Sets out the process for making and handling indemnification claims
7. Governing Law and Jurisdiction: Specifies that English and Welsh law governs and establishes jurisdiction
1. Insurance Requirements: Used when the indemnifier must maintain specific insurance coverage to support the indemnification
2. Limitations on Liability: Used when parties agree to include caps or other restrictions on the scope of indemnification
3. Third Party Claims: Used when claims from third parties are likely and specific procedures are needed
4. Subrogation Rights: Used when rights to pursue claims against third parties need to be addressed
1. Schedule 1 - Covered Events: Detailed list of specific situations and circumstances covered by the indemnification
2. Schedule 2 - Excluded Events: Comprehensive list of exclusions from the scope of indemnification
3. Schedule 3 - Claims Procedure: Detailed step-by-step process for making and handling claims
4. Schedule 4 - Insurance Requirements: Detailed specifications of required insurance coverage, limits, and terms
Authors
Applicable Law
Claims
Commencement Date
Company
Confidential Information
Costs
Damages
Effective Date
Expenses
Indemnified Party
Indemnifying Party
Indemnified Matters
Liabilities
Losses
Notice
Parties
Professional Services
Relevant Period
Representatives
Term
Third Party Claim
Working Day
Duration and Survival
Notice Requirements
Claims Procedure
Payment Terms
Limitations of Liability
Insurance Requirements
Confidentiality
Assignment
Third Party Rights
Force Majeure
Dispute Resolution
Governing Law
Jurisdiction
Entire Agreement
Severability
Waiver
Variation
Costs and Expenses
Notices
Counterparts
Good Faith
Further Assurance
Remedies and Rights
Subrogation Rights
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