Do not resign from your position as director of a corporation without getting an Indemnity from the corporation.
- This generic legal form can be used in almost any jurisdiction.
- Under the terms of the indemnity, the corporation and its shareholders agree to indemnify and hold the director harmless against any claims, losses or damages arising as a result of having been a director.
- The corporation also indemnifies the departing director against any actions brought by the corporation to which the director would be a party by reason of having served on the Board.
Download this Indemnity of Resigning Director form and reduce your exposure to liability for acting on behalf of the corporation.
Last Updated: 17-November-2017