An employee indemnification statement is a significant legal document in all corporate sectors. It is a written record of the act of securing, preserving and indemnifying against any damage or penalty incurred and sets a methodology for reimbursing losses. Indemnification is an important aspect for both the employer and the employees and thus needs to be comprehensively presented, to state all possible terms and conditions.
Sample Employee Indemnification Statement:
Servera Companies Pvt. Ltd.
418, Loudon Street
0 01- 301-56371835679
Indemnification Statement for Employees
- Servera Companies Pvt. Ltd. will indemnify any of its employee against all liabilities, judicial costs, defense penalties, fines, expenses for settlement and other extra costs incurred, provided the claim to action occurred within the premises of the company and within working hours.
- The employee should have been performing his/ her duty then and not involved in any criminal offence or any other legal misconduct.
- He/ she should be held in good faith and should provide enough evidence to prove that his/ her actions were in the best of the company’s interests.
- The person should necessarily have cleared all personal and professional debts, if any.
Procedure for Indemnification:
To apply for receiving indemnification, an employee must do the following:
- Submit an immediate notice, in written form, at the office of the General Counsel.
- Provide all required documents to the legal counselor.
- Should not make any personal or related statement on any public forum, neither oral nor written.
- Should not enter into some other settlement without the permission of the company.
- Should co-operate with the company in heart and soul.