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Personal Indemnification Agreement
"I need a Personal Indemnification Agreement under Singapore law to protect me as a non-executive director from personal liability when joining the board of a fintech startup from March 2025."
1. Parties: Identifies the indemnifier and indemnitee with full legal names and addresses
2. Background: Explains the context and purpose of the indemnification agreement
3. Definitions: Defines key terms used throughout the agreement
4. Scope of Indemnification: Details what losses, damages, or liabilities are covered
5. Duration: Specifies how long the indemnification remains in effect
6. Limitations and Exclusions: Specifies any limitations on the scope of indemnity and excluded claims
7. Process for Claims: Sets out the procedure for making and handling indemnification claims
8. Governing Law and Jurisdiction: Confirms Singapore law applies and establishes jurisdiction for disputes
9. Execution: Signature blocks and execution formalities
1. Insurance Requirements: Specifies insurance obligations and minimum coverage requirements to back the indemnity
2. Defense Rights: Details rights and obligations regarding legal defense of claims including choice of counsel
3. Notice Requirements: Specific procedures and timeframes for notifying parties of claims or potential claims
4. Subrogation Rights: Rights of the indemnifier to pursue claims against third parties
5. Assignment: Provisions regarding the ability to assign rights under the agreement
1. Schedule 1 - Covered Activities: Detailed list of activities, circumstances, or events covered by the indemnification
2. Schedule 2 - Excluded Claims: Specific listing of claims, losses, or circumstances explicitly excluded from coverage
3. Schedule 3 - Insurance Requirements: Detailed specifications of required insurance types, coverage amounts, and insurers
4. Schedule 4 - Claims Procedure: Step-by-step process for submitting and handling claims, including required documentation
Authors
Claim
Damages
Effective Date
Indemnified Party
Indemnifying Party
Indemnified Matters
Liabilities
Loss
Notice
Parties
Term
Third Party Claim
Reasonable Costs
Related Expenses
Force Majeure Events
Confidential Information
Business Day
Governing Law
Jurisdiction
Material Breach
Dispute
Legal Proceedings
Representatives
Termination Date
Duration and Survival
Notice Requirements
Defense and Settlement
Limitations of Liability
Exclusions
Payment Terms
Insurance Requirements
Representations and Warranties
Confidentiality
Assignment
Severability
Force Majeure
Dispute Resolution
Governing Law
Entire Agreement
Amendment and Waiver
Counterparts
Third Party Rights
Costs and Expenses
Termination
Notices
Time of Essence
Further Assurance
Legal Compliance
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