Deed of indemnity—company director (qualifying third-party indemnity)

The following Corporate precedent provides comprehensive and up to date legal information covering:

  • Deed of indemnity—company director (qualifying third-party indemnity)

Deed of indemnity—company director (qualifying third-party indemnity)

This Deed is made on [insert date]

Parties

  1. 1

    [insert name of company][ a company] incorporated in [England and Wales] under number [insert registered number] whose registered office is at [insert address of registered office] (the Company); and

  1. 2

    [insert name of director] of [insert address of director] (the Director).

[each of [insert name of first party as defined above] and [insert name of second party as defined above] being a party and together [insert name of first party as defined above] and [insert name of second party as defined above] are the parties.]

Background

    1. (A)

      The Director has consented to act as a director of the Company and has been registered at Companies House.

    1. (B)

      The Company has agreed to indemnify the Director on the terms set out in this Deed.

    1. (C)

      [The Company has further agreed to use its reasonable endeavours to continue to maintain appropriate directors’ and officers’ liability insurance for the benefit of the Director.]

The parties agree:

    1. 1

      Definitions and interpretation

      1. 1.1

        In this Deed:

        Associated Company

        1. means an ‘associated company’ as defined in section 256 of the Companies 2006;

        Claims

        1. means all claims, actions and proceedings, whether civil, criminal or regulatory and Claim shall be construed accordingly;

        CA 2006

        1. means the Companies Act 2006;

        Losses

        1. means any losses, damages, penalties, liabilities, compensation or other awards, or any related settlement to which

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