The Indemnity Agreement Between Employer And Employee is commonly used in situations where employees may face personal liability risks while performing their duties. This document, governed by English and Welsh law, is particularly relevant for senior executives, directors, and employees in high-risk positions. It provides clarity on the extent of protection offered by the employer, including financial compensation for legal costs, damages, and other specified losses. The agreement typically includes detailed terms about covered events, exclusions, notification requirements, and the duration of protection, while ensuring compliance with employment law and corporate governance requirements.
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1. Parties: Identification and details of the employer and employee
2. Background: Context and purpose of the indemnity agreement
3. Definitions: Key terms used throughout the agreement
4. Scope of Indemnity: Detailed description of what is covered by the indemnity
5. Duration: Period during which the indemnity remains valid
6. Obligations of Parties: Specific duties of both employer and employee
7. Governing Law: Specification of applicable law and jurisdiction
1. Insurance Requirements: Details of required insurance coverage and obligations when specific insurance requirements are part of the arrangement
2. Confidentiality: Provisions regarding confidential information when dealing with sensitive information or trade secrets
3. Third Party Rights: Rights of third parties under the agreement when third parties might be affected by the indemnity
1. Schedule 1: Specified Activities: Detailed list of activities covered by the indemnity
2. Schedule 2: Excluded Events: List of circumstances where indemnity doesn't apply
3. Schedule 3: Insurance Requirements: Detailed insurance specifications and requirements
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