Deed of Indemnity for DirectorsA Deed of Indemnity is a legal agreement between a company and a company director or company officer.
Under the Corporations Act 2001 (Cth), a director is subject to many duties and obligations. If a director breaches one of their duties, this can result in serious legal penalties such as fines and bans. This Deed contains terms of how a company will indemnify a company director. Further, it can also cover the costs incurred by a director or officer while performing their role. You MUST seek advice from a qualified professional before using this deed to check that it meets your specific circumstances.
Use this Deed of indemnity if:
- You are a director of a company and want to protect yourself from liability in case challenges arise.
- The company wants to explicitly outline their duties and obligations when liabilities arise.
- The company wants to proactively incentivise and ensure director’s are not personally liable for breach of duties.
What does this Deed of indemnity Cover?
- Indemnity clause
- Loans to the Director
- Rights, powers and remedies