604.8. For the purpose of determining whether the justification provided for in the third paragraph of section 604.7 exists, the following objectives shall be considered and weighed one against the other:(1) the person referred to in section 604.6 must be reasonably protected against any financial loss which may result from the performance of his duties;
(2) the monies of the municipality must not be used to protect such a person against financial losses resulting from misconduct which cannot possibly be compared with the errors that may reasonably be expected to be committed by a person performing similar duties.
For the purposes of the first paragraph, the good or bad faith of the person may be taken into account as well as his diligence or negligence in learning the rules and practices relevant to the performance of his duties, the existence or absence of any previous fault related to the performance of his duties, the simplicity or complexity of the circumstances in which he committed a fault, the good or poor quality of the advice given to him and any other relevant factor.