Indemnity Agreement

In consideration of the sum of [AMOUNT], and other good and valuable consideration, receipt of which is acknowledged, on behalf of themselves, their heirs, assigns and successors, jointly and severally enter into this Indemnity Agreement to hold each other harmless form any suit, liability, claim, action or loss arising out of the below described incident, the parties agree as follows:

1. LIABILITY, LOSS OR DAMAGE

Indemnitor undertakes to indemnify Indemnitee from any and all liability, loss, or damage Indemnitee may suffer as a result of claims, demands, costs, or judgments against Indemnitee arising from [SPECIFY FACTS RESULTING IN NEED FOR INDEMNITY ].

2. DURATION

Indemnity under this agreement shall commence on [DATE ] and shall continue in full force until [(DATE) OR INDICATE TERMINATING EVENT OR CONDITION ].

3. REQUIREMENT OF NOTICE TO INDEMNITOR

Indemnitee agrees to notify Indemnitor in writing, within [NUMBER] days, by registered or certified mail, at Indemnitor’s address as stated in this agreement, of any claim made against Indemnitee on the obligations indemnified against.

IN WITNESS WHEREOF, each party to this agreement has caused it to be executed at [PLACE OF EXECUTION] on the date indicated below.