A PowerPoint presentation for use by counsel to train executives and other employees of a US company about indemnity and limitation of liability in commercial contracts. This presentation gives a high-level overview of indemnification and limitation of liability clauses and discusses how they interact to allocate and shift contractual risks. It reviews consequential damages waivers and liability caps as components of limitation of liability. This presentation also covers the obligations to defend, indemnify, and hold harmless as part of the indemnification clause.