This document is a deed of indemnity that can be entered into by a director.
A deed like this is commonly entered into by a director in order to provide indemnification and protection for decisions made by the company whilst he or she was a director.
While the director may be entitled to an indemnity under the company’s constitution, this agreement may provide for a more tailored and comprehensive indemnity. This indemnity can, and should, be drafted to apply after the director has ceased holding his or her position.
It is also prudent to consider directors’ and officers’ insurance, and perhaps a deed of access providing access to company records after tenure as director.
This document has been authored for Lexis Nexis by Rosalyn Gladwin, Principal, Gladwin Legal.
This document is prepared with the assistance of Specialist Editor Murray Landis, Partner, K&L Gates.