"IBM should provide some indemnification protection, even if they put a cap on their liability.
"Advent would contribute additional capital to the business over a three-year period, and Walmart would provide an indemnification for pre-closing tax and legal contingencies, as well as certain other matters," Walmart added.
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.
Those distributors do not offer indemnification.
Especially given the fact that he was actually told by legal counsel that this action violated the Constitution, Zaccari in no way deserved the protection of qualified immunity or the indemnification provided by the taxpayers of Georgia.
While industry sponsors of clinical research regularly indemnify clinical researchers for activities related to the performance of a clinical study, the Federal government provides no such indemnification for clinical trials.
On Friday, the Bear board looked after itself, amending the Bear by-laws to enhance the director indemnification provisions to provide for advancement of expenses to these directors to aid them in defending against any lawsuits.
Called directors and officers (D&O) insurance, these policies, offered by companies such as American International Group, Chubb and Ace Limited, are designed to provide reimbursement of costs incurred in defending a claim and indemnification for any judgment or settlement in a case.
Andrew L. Deutsch, a partner of DLA Piper LLP, which represents Al Jazeera, said in the next few weeks, the network will provide a clear explanation of its position and right to indemnification from escrow funds. .
Are the expansive indemnification provisions provided by public companies really necessary, or do they allow executives to escape penalty for their wrongdoing?
