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And McHugh explained that "no congressional notification was provided in connection" with the indemnification provision.
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The indemnification is based on what the cable operators serving the inner markets that are closest to New York City do, along with DirecTV.
Timothy J. Mayopolous, general counsel for Fannie Mae, testified that the board had undertaken a review of the indemnification policies at that time.
But the board found that the owners group had not yet satisfied the indemnification condition and denied the motion.
According to legal experts, the indemnification agreement covers all legal expenses, including but not limited to confidentiality agreements.
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".
According to Mr. Neugebauer, the Housing and Economic Recovery Act of 2008, which created the new federal overseer of Fannie and Freddie Mac, allowed for the indemnification contracts to be voided.
Mr. DeMarco and Mr. Pollard replied that refusing to honor the indemnification contracts would have resulted in additional legal bills because the executives would have sued.
In fact, the Fed would have demanded that the indemnification provision be removed, as much as it guided the price per share paid in this transaction.
The INEX 2000 Workshop on the Indemnification of Nuclear Damage, jointly organised by the OECD/Nuclear Energy Agency and the French Government, was the first ever international programme to address the manner in which victims of a nuclear accident with trans-boundary consequences would be compensated for damage suffered before, during and after the accident.
1. Eliminate the indemnification clause.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com