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Personal Indemnification Agreement
"I need a Personal Indemnification Agreement to protect me as a newly appointed board director of a Saudi healthcare company, with specific coverage for medical technology investment decisions and regulatory compliance matters, to be effective from March 2025."
1. Parties: Identification of the Indemnifier and Indemnitee with full legal names and addresses
2. Background: Context of the agreement and the relationship between the parties
3. Definitions: Key terms used throughout the agreement, including 'Indemnified Events', 'Losses', and 'Claims'
4. Scope of Indemnification: Detailed description of what events, actions, or circumstances are covered by the indemnification
5. Indemnification Obligations: Specific obligations of the Indemnifier, including payment terms and timing
6. Procedure for Claims: Process for making and handling indemnification claims, including notice requirements and time limits
7. Limitations and Exclusions: Specific limitations on the indemnification and excluded events or circumstances
8. Representations and Warranties: Statements of fact and guarantees by both parties
9. Shariah Compliance: Specific provisions ensuring compliance with Islamic law principles
10. Dispute Resolution: Procedures for resolving disputes, including jurisdiction and applicable law
11. Term and Termination: Duration of the agreement and circumstances for termination
1. Insurance Requirements: Requirements for insurance coverage to support indemnification obligations, used when specific insurance is required
2. Third Party Claims: Specific procedures for handling claims involving third parties, included when third-party claims are likely
3. Security Provisions: Requirements for security or collateral to support indemnification obligations, used when additional security is required
4. Contribution: Provisions for sharing indemnification obligations among multiple parties, used when multiple indemnifiers are involved
5. Force Majeure: Provisions for unforeseen circumstances affecting performance, included when specific external risks need to be addressed
6. Confidentiality: Provisions protecting sensitive information, included when confidential information is involved in the indemnified activities
1. Schedule A - Defined Events: Detailed list of specific events or circumstances covered by the indemnification
2. Schedule B - Calculation of Losses: Methodology for calculating indemnifiable losses and expenses
3. Schedule C - Claim Form Template: Standard form for submitting indemnification claims
4. Schedule D - Required Notices: List of required notices and their prescribed forms
5. Appendix 1 - Supporting Documents: List of documents evidencing the basis for indemnification
6. Appendix 2 - Contact Information: Detailed contact information for notices and claims processing
Authors
Financial Services
Professional Services
Corporate Services
Real Estate
Healthcare
Construction
Technology
Manufacturing
Energy
Education
Consulting
Investment Banking
Insurance
Legal
Compliance
Risk Management
Corporate Governance
Executive Leadership
Finance
Human Resources
Operations
Corporate Affairs
Business Development
Chief Executive Officer
Chief Financial Officer
Board Director
Executive Director
Managing Director
Company Secretary
Legal Counsel
Risk Manager
Compliance Officer
Senior Manager
Department Head
Project Manager
Investment Officer
Corporate Advisor
Business Development Manager
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