Director and officer indemnification and advancement are important corporate governance issues, because how states answer them determines the pool of candidates from whom the overseers and managers of that state's corporations will be drawn. This article explains what these two distinct concepts are (they relate to litigation against the firm and its agents), the basic Delaware law concerning these concepts, how parties can agree to standards different than the law, and reviews a recent Delaware court decision which commented on the treatment of indemnification and advancement in that (important, for corporate law) state.
- Summary by FizzLaw Team
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Director & Officer Indemnification & Advancement