This Corporate Indemnity form for Canadian corporations indemnifies the directors and officers against claims or losses incurred as a result of acting as director or officer of the corporation.
- Sitting on the board of a corporation, non-profit or condominium can be a risky proposition these days, and directors don't want to leave themselves open to lawsuits because of actions they took on behalf of the company.
- Corporations should make it standard practice to indemnify every director and officer to protect them against liability.
Download the free Corporate Indemnity form or copy and paste the following text.
TO: The Directors and Officers of [NAME OF CORPORATION] and their respective heirs and legal representatives
INSTRUMENT OF INDEMNITY
[NAME OF CORPORATION], (the "Corporation") does hereby indemnify each of you, to the full extent permitted by the _________________ [insert name of province, or if the corporation is federal, insert Canada] Business Corporations Act, against all costs, charges and expenses, including any amount paid to settle an action or satisfy a judgment, reasonably incurred by you in respect of any civil, criminal or administrative action or proceedings to which you have been made a party by reason of being or having been a Director or Officer of the Corporation.
DATED at ____________________, this ___ day of ___________, 20____.
[NAME OF CORPORATION]
Signature of Signing Officer
Name and Title
Last Updated: 13-January-2021