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This excerpt taken from the NYFX 10-K filed Mar 7, 2007. Indemnification. The Employee hereby covenants and agrees that he will not do any act or incur any obligation on behalf of the Employer of any kind whatsoever unless authorized by the Employer. The Employer hereby covenants and agrees that it will indemnify Employee and hold him harmless from any obligation or liability incurred by the Employer or by the Employer as an Officer, Director, Employee, or Agent of the Employer, including the reasonable expenses of legal defense thereof, for any act, commission, or liability undertaken or incurred during the course of this Agreement.
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