Indemnification Agreement For Llc

Given the importance of an undertaking`s compensation rules, great caution should be exercised in determining the scope and exceptions to compensation as well as in drafting the actual language, as language changes can have a significant impact on a court`s interpretation of a compensation clause. Restrictions on compensation under the DGCL ultimately did not prevent the Freeman family from obtaining transportation. However, the question of whether such restrictions applied could have been avoided if the company agreement had enjoyed the greater flexibility allowed by the Delaware Limited Liability Company Act (LACA), which provides that an LLC may exempt any person from “all claims and receivables of any kind.” .

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