Director and Officer Indemnification Agreement (Short Form)

Summary

This precedent is a short form indemnification agreement for directors and officers of a corporation. This form of agreement is to be used for a corporation incorporated under the Canada Business Corporations Act, R.S.C. 1985, c. C-44 ("CBCA") or the Ontario Business Corporations Act, R.S.O. 1990, c. B.16 ("OBCA"). This precedent contains practical guidance, drafting notes, alternate clauses, and optional clauses. This precedent is a short form indemnification agreement for directors and officers of a corporation indemnifying said directors and officers for any losses incurred in legal proceedings related to their service to the corporation as a director or officer to the maximum extent permitted by law. This agreement is drafted for a corporation incorporated under the CBCA or the OBCA. This is an indemnity agreement between a CBCA or OBCA corporation and its director or officer entered into for the purposes of protecting the director or officer from liability arising from claims made...