Release from liability / Freistellungserklärung gegenüber Geschäftsführer

Release from liability

between

... (“Debtor”)

and

... (“Beneficiary”)

The beneficiary has been appointed as Managing Director of ____ GmbH, Address, on ______. She may be liable pursuant to Managing Director’s liability. For any payment obligation resulting of her Managing Director’s liability, the debtor wants to give a promise with the content, that the debtor shall release and compensate the beneficiary upon her demand from all obligations and costs resulting of her Managing Director’s liability during the term of her activities as Managing Director for _____ GmbH. Now the parties agree as follows:

§ 1 Release and compensation promise

The debtor will to the maximum extent permitted by law, indemnify and hold harmless the beneficiary from any and all judgements and administrative measures, payments and costs, resulting of her Managing Director’s liability during her activities as Managing Director for ____ GmbH, except for such judgements and administrative measures, payments and costs, that, pursuant to a juridical confirmation, have resulted from the bad faith, 

[ENDE DER VORSCHAU]

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