Air Canada 2006 Annual Report Download - page 119
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arise out of or relate to the negligence of the service provider, but excluding liabilities that arise from the service
provider's gross negligence or willful misconduct.
Under its general by-laws, the Corporation has indemnification obligations to its directors and officers. Pursuant
to such obligations, the Corporation indemnifies these individuals, to the extent permitted by law, against any
and all claims or losses (including amounts paid in settlement of claims) incurred as a result of their service to
the Corporation.
The maximum amount payable under the foregoing indemnities cannot be reasonably estimated. The
Corporation expects that it would be covered by insurance for most tort liabilities and certain related contractual
indemnities described above.
119
Combined Consolidated Financial Statements 2006