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Under N.H.L. bylaws, a majority vote of the league's 29 other clubs is the criterion for approving a move; Toronto and Buffalo would be able to ask for indemnification fees in exchange for dropping their opposition.
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Finally, it wanted to move within the region without paying the Knicks an indemnification fee.
Wynn's articles of incorporation are typical of publicly traded companies by providing for indemnification of legal fees resulting from litigation related to a director's conduct.
"Because he succeeded on each federal charge brought against him, Aleynikov is entitled to indemnification for the reasonable fees and expenses incurred in his defense".
Like most public companies, Fannie Mae had a broad indemnification policy requiring it to advance the legal fees for executives accused of misconduct based on their work for it.
April 24 Lawyers for Walsh, right, and the N.F.L. reached a deal for Walsh to share what he knew in exchange for indemnification; the league agreed to cover all his future legal fees.
The indemnification provision has an interesting limitation that does not require the company to pay legal fees for any actions related to a person's "capacity as a stockholder, including, but not limited to, in connection with such person being deemed an unsuitable person".
One-sided legal releases are part of modern life, but these ubiquitous documents often contain little-noticed indemnification clauses — legal provisos requiring consumers to protect a business or some other party from damage claims and legal fees, sometimes even those arising from their own negligence.
In addition, the indemnification provision covers government investigations, so to the extent the S.E.C. and Justice Department scrutinize Mr. Okada for his actions as a director of Wynn, the company may be responsible for paying those legal fees as well.
But indemnification rights are not unlimited.
"Mutual indemnification always is, " he replies.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com