Indemnity Agreement (Australia)
The Australian Indemnity Agreement app is an indemnification form that protects a party from liability, and serves as a hold harmless agreement for an officer of a director of a company that wishes to serve, free from any concern of legal risks or personal liability from fulfilling their duties.
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Indemnification agreements are designed to provide a party with protection from being held liable for claims arising from the actions that the indemnification cover. In the case of a specific director indemnity agreement, such as this one, it provides coverage from liability arising from professional duties in a directorship role. In this app, the Indemnifier is a company that is hiring an individual into a director role, or other leadership role, while the Indemnitee, or the indemnified party, is an employee being hired to render services that could possible open that individual to liability or damages based on them carrying out their duties.
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