Jim Hanks and Mike Schiffer: Indemnification Agreements under Mayland Law: Additional Protection for Directors and Officers.

Jim Hanks, an attorney at Venable LLP, and Mike Schiffer, a partner at Venable LLP, recently published a client memo regarding indemnification agreements under Maryland law.  The authors discuss different avenues that directors and officers can take to protect themselves from personal liability when serving on the board of a Maryland corporation or real estate investment trust.  The authors detail the advantages of using an indemnification agreement.  These advantages include the inclusion of a specific procedure for indemnification and the ability to carve out greater protections than what is provided for by the Maryland General Corporation Law.

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Posted by Shahzeb Gaziani, Senior Associate Editor, Wealth Strategies Journal.