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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.
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Timothy J. Mayopolous, general counsel for Fannie Mae, testified that the board had undertaken a review of the indemnification policies at that time.
If the regulator had asked for higher payments from the former executives, the men could have turned around and requested that the bankrupt company pay the amounts under its indemnification policies.
Caps are typical of any sort of indemnification, whether it be warranties, insurance policies, buyer protection or numerous other structures for risk amelioration that typically appear in auction markets.
The couple won, and the president's bid for indemnification through the co-op's insurance policy was denied by the Court of Appeals.
We show that, for an optimal policy, the associated marginal indemnification function only takes the values zero and one.
Mark Geistfeld, a law professor at New York University, said indemnification, a form of insurance, has its limits.
They might ask for indemnification, IP in escrow, insurance and a number of other things.
This insurance includes indemnification for the TSC and DMC.
To alleviate this, liability insurance or indemnification should be made available to those agreeing to serve on these boards.
Subcontractors may also be required to have risk indemnification, workman's compensation insurance, and other coverages specific to their work.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com