Indemnity Agreement损失补偿合同

-26-IndemnityAgreement损失补偿合同核心提示：ThisIndemnityAgreement,datedasof_________(year),ismadebyandbetweenAAA,a_________(address)corporation(theCompany),and(theIndemnitee).RECITALSA.TheCompanyisawarethatcompetentandexperiencedpersonsareincreasinglyreluctaThisIndemnityAgreement,datedasof_________(year),ismadebyandbetweenAAA,a_________(address)corporation(theCompany),and(theIndemnitee).RECITALSA.TheCompanyisawarethatcompetentandexperiencedpersonsareincreasinglyreluctanttoserveasdirectors,officersoragentsofcorporationsunlesstheyareprotectedbycomprehensiveliabilityinsuranceorindemnification,duetoincreasedexposuretolitigationcostsandrisksresultingfromtheirservicetosuchcorporations,andduetothefactthattheexposurefrequentlybearsnoreasonablerelationshiptothecompensationofsuchdirectors,officersandotheragents.B.Thestatutesandjudicialdecisionsregardingthedutiesofdirectorsandofficersareoftendifficulttoapply,ambiguous,orconflicting,andthereforefailtoprovidesuchdirectors,officersandagentswithadequate,reliableknowledgeoflegalriskstowhichtheyareexposedorinformationregardingthepropercourseofactiontotake.C.Plaintiffsoftenseekdamagesinsuchlargeamountsandthecostsoflitigationmaybesoenormous(whetherornotthecaseismeritorious),thatthedefenseand/orsettlementofsuchlitigationisoftenbeyondthepersonalresourcesofdirectors,officersandotheragents.D.TheCompanybelievesthatitisunfairforitsdirectors,officersandagentsandthedirectors,officersandagentsofitssubsidiariestoassumetheriskofhugejudgmentsandotherexpenseswhichmayoccurincasesinwhichthedirector,officeroragentreceivednopersonalprofitandincaseswherethedirector,officeroragentwasnotculpable.E.TheCompanyrecognizesthattheissuesincontroversyinlitigationagainstadirector,officeroragentofacorporationsuchastheCompanyoritssubsidiariesareoftenrelatedtotheknowledge,motivesandintentofsuchdirector,officeroragent,thatheisusuallytheonlywitnesswithknowledgeoftheessentialfactsandexculpatingcircumstancesregardingsuchmatters,andthatthelongperiodoftimewhichusuallyelapsesbeforethetrialorotherdispositionofsuchlitigationoftenextendsbeyondthetimethatthedirector,officeroragentcanreasonablyrecallsuchmatters;andmayextendbeyondthenormaltimeforretirementforsuchdirector,officeroragentwiththeresultthathe,afterretirementorintheeventofhisdeath,hisspouse,heirs,executorsoradministrators,maybefacedwithlimitedabilityandunduehardshipinmaintaininganadequatedefense,whichmaydiscouragesuchadirector,officeroragentfromservinginthatposition.F.Basedupontheirexperienceasbusinessmanagers,theBoardofDirectorsoftheCompany(theBoard)hasconcludedthat,toretainandattracttalentedandexperiencedindividualstoserveasdirectors,officersandagentsoftheCompanyanditssubsidiariesandtoencouragesuchindividualstotakethebusinessrisksnecessaryforthesuccessoftheCompanyanditssubsidiaries,itisnecessaryfortheCompanytocontractuallyindemnifyitsdirectors,officersandagentsandthedirectors,officersandagentsofitssubsidiaries,andtoassumeforitselfmaximumliabilityforexpensesanddamagesinconnectionwithclaimsagainstsuchdirectors,officersandagentsinconnectionwiththeirservicetotheCompanyanditssubsidiaries,andhasfurtherconcludedthatthefailuretoprovidesuchcontractualindemnificationcouldresultingreatharmtotheCompanyanditssubsidiariesandtheCompany’sstockholders.G.Section145oftheGeneralCorporationLawof_________(address),underwhichtheCompanyisorganized(Section145),empowerstheCompanytoindemnifyitsdirectors,officers,employeesandagentsbyagreementandtoindemnifypersonswhoserve,attherequestoftheCompany,asthedirectors,officers,employeesoragentsofothercorporationsorenterprises,andexpresslyprovidesthattheindemnificationprovidedbySection145isnotexclusive.H.TheCompanydesiresandhasrequestedtheIndemniteetoserveorcontinuetoserveasadirector,officeroragentoftheCompanyand/oroneormoresubsidiariesoftheCompanyfreefromundueconcernforclaimsfordamagesarisingoutoforrelatedtosuchservicestotheCompanyand/oroneormoresubsidiariesoftheCompany.I.Indemniteeiswillingtoserve,ortocontinuetoserve,theCompanyand/oroneormoresubsidiariesoftheCompany,providedthatheisfurnishedtheindemnityprovidedforherein.AGREEMENTNOW,THEREFORE,thepartieshereto,intendingtobelegallybound,herebyagreeasfollows:1.Definitions.(a)Agent.ForthepurposesofthisAgreement,agentoftheCompanymeansanypersonwhoisorwasadirector,officer,employeeorotheragentoftheCompanyorasubsidiaryoftheCompany;orisorwasservingattherequestof,fortheconvenienceof,ortorepresenttheinterestsoftheCompanyorasubsidiaryoftheCompanyasadirector,officer,employeeoragentofanotherforeignordomesticcorporation,partnership,jointventure,trustorotherenterprise;orwasadirector,officer,employeeoragentofaforeignordomesticcorporationwhichwasapredecessorcorporationoftheCompanyorasubsidiaryoftheCompany,orwasadirector,officer,employeeoragentofanotherenterpriseattherequestof,fortheconvenienceof,ortorepresenttheinterestsofsuchpredecessorcorporation.(b)Expenses.ForpurposesofthisAgreement,expensesincludealloutofpocketexpensescostsofanytypeornaturewhatsoever(including,withoutlimitation,allattorneys’feesandrelateddisbursements),actuallyandreasonablyincurredbytheIndemniteeinconnectionwitheithertheinvestigation,defenseorappealofaproceedingorestablishingorenforcingarighttoindemnificationunderthisAgreementorSection145orotherwise;provided,however,thatexpensesshallnotincludeanyjudgments,fines,ERISAexcisetaxesorpenalties,oramountspaidinsettlementofaproceeding.(c)Proceeding.ForthepurposesofthisAgreement,proceedingmeansanythreatened,pending,orcompletedaction,suitorotherproceeding,whethercivil,criminal,administrative,orinvestigative.(d)Subsidiary.ForpurposesofthisAgreement,subsidiarymeansanycorporationofwhichmorethan50%oftheoutstandingvotingsecuritiesisowneddirectlyorindirectlybytheCompany,bytheCompanyandoneormoreothersubsidiaries,orbyoneormoreothersubsidiaries.2.AgreementtoServe.TheIndemniteeagreestoserveand/orcontinuetoserveasagentoftheCompany,atitswill(orunderseparateagreement,ifsuchagreementexists),inthecapacityIndemniteecurrentlyservesasanagentoftheCompany,solongasheisdulyappointedorelectedandqualifiedinaccordancewiththeapplicableprovisionsoftheBylawsoftheCompanyoranysubsidiaryoftheCompanyoruntilsuchtimeashetendershisresignationinwriting;provided,however,thatnothingcontainedinthisAgreementisintendedtocreateanyrighttocontinuedemploymentbyIndemnitee.3.LiabilityInsurance.(a)MaintenanceofDOInsurance.TheCompanyherebycovenantsandagreesthat,solongastheIndemniteeshallcontinuetoserveasanagentoftheCompanyandthereaftersolongastheIndemniteeshallbesubjecttoanypossibleproceedingbyreasonofthefactthattheIndemniteewasanagentoftheCompany,theCompany,subjecttoSection3(c),shallpromptlyobtainandmaintaininfullforceandeffectdirectors’andofficers’liabilityinsurance(DOInsurance)inreasonableamountsfromestablishedandreputableinsurers.(b)RightsandBenefits.InallpoliciesofDOInsurance,theIndemniteeshallbenamedasaninsuredinsuchamannerastoprovidetheIndemniteethesamerightsandbenefitsasareaccordedtothemostfavorablyinsuredoftheCompany’sdirectors,iftheIndemniteeisadirector;oroftheCompany’sofficers,iftheIndemniteeisnotadirectoroftheCompanybutisanofficer;oroftheCompany’skeyemployees,iftheIndemniteeisnotadirectororofficerbutisakeyemployee.(c)LimitationonRequiredMaintenanceofDOInsurance.Notwithstandingtheforegoing,theCompanyshallhavenoobligationtoobtainormaintainDOInsuranceiftheCompanydeterminesingoodfaiththatsuchinsuranceisnotreasonablyavailable,thepremiumcostsforsuchinsurancearedisproportionatetotheamountofcoverageprovided,thecoverageprovidedbysuchinsuranceislimitedbyexclusionssoastoprovideaninsufficientbenefit,ortheIndemniteeiscoveredbysimilarinsurancemaintainedbyasubsidiaryoftheCompany.4.MandatoryIndemnification.SubjecttoSection9below,theCompanyshallindemnifytheIndemniteeasfollows:(a)SuccessfulDefense.TotheextenttheIndemniteehasbeensuccessfulonthemeritsorotherwiseindefenseofanyproceeding(including,withoutlimitation,anactionbyorintherightoftheCompany)towhichtheIndemniteewasapartybyreasonofthefactthatheisorwasanAgentoftheCompanyatanytime,againstallexpensesofanytypewhatsoeveractuallyandreasonablyincurredbyhiminconnectionwiththeinvestigation,defenseorappealofsuchproceeding.(b)ThirdPartyActions.IftheIndemniteeisapersonwhowasorisapartyoristhreatenedtobemadeapartytoanyproceeding(otherthananactionbyorintherightoftheCompany)byreasonofthefactthatheisorwasanagentoftheCompany,orbyreasonofanythingdoneornotdonebyhiminanysuchcapacity,theCompanyshallindemnifytheIndemniteeagainstanyandallexpensesandliabilitiesofanytypewhatsoever(including,butnotlimitedto,judgments,fines,ERISAexcisetaxesandpenalties,andamountspaidinsettlement)actuallyandreasonablyincurredbyhiminconnectionwiththeinvestigation,defense,settlementorappealofsuchproceeding,providedtheIndemniteeactedingoodfaithandinamannerhereasonablybelievedtobeinornotopposedtothebestinterestsoftheCompanyanditsstockholders,and,withrespecttoanycriminalactionorproceeding,hadnoreasonablecausetobelievehisconductwasunlawful.(c)DerivativeActions.IftheIndemniteeisapersonwhowasorisapartyoristhreatenedtobemadeapartytoanyproceedingbyorintherightoftheCompanybyreasonofthefactthatheisorwasanagentoftheCompany,orbyreasonofanythingdoneornotdonebyhiminanysuchcapacity,theCompanyshallindemnifytheIndemniteeagainstallexpensesactuallyandreasonablyincurredbyhiminconnectionwiththeinvestigation,defense,settlement,orappealofsuchproceeding,providedtheIndemniteeactedingoodfaithandinamannerhereasonablybelievedtobeinornotopposedtothebestinterestsoftheCompanyanditsstockholders;exceptthatnoindemnificationunderthissubsection4(c)shallbemadeinrespecttoanyclaim,issueormatterastowhichsuchpersonshallhavebeenfinallyadjudgedtobeliabletotheCompanybyacourtofcompetentjurisdictionunlessandonlytotheextentthatthecourtinwhichsuchproceedingwasbroughtshalldetermineuponapplicationthat,despitetheadjudicationofliabilitybutinviewofallthecircumstancesofthecase,suchpersonisfairlyandreasonablyentitledtoindemnityforsuchamountswhichthecourtshalldeemproper.(d)ActionswhereIndemniteeisDeceased.IftheIndemniteeisapersonwhowasorisapartyoristhreatenedtobemadeapartytoanyproceedingbyreasonofthefactthatheisorwasanagentoftheCompany,orbyreasonofanythingdoneornotdonebyhiminanysuchcapacity,andifpriorto,duringthependencyofaftercompletionofsuchproceedingIndemniteebecomesdeceased,theCompanyshallindemnifytheIndemnitee’sheirs,executorsandadministratorsagainstanyandallexpensesandliabilitiesofanytypewhatsoever(including,butnotlimitedto,judgments,fines,ERISAexcisetaxesandpenalties,andamountspaidinsettlement)actuallyandreasonablyincurredtotheextentIndemniteewouldhavebeenentitledtoindemnificationpursuanttoSections4(a),4(b),or4(c)abovewereIndemniteestillalive.(e)Notwithstandingtheforegoing,theCompanyshallnotbeobligatedtoindemnifytheIndemniteeforexpensesorliabilitiesofanytypewhatsoever(including,butnotlimitedto,judgments,fines,ERISAexcisetaxesandpenalties,andamountspaidinsettlement)forwhichpaymentisactuallymadetoIndemniteeunderavalidandcollectibleinsurancepolicyofDOInsurance,orunderavalidandenforceableindemnityclause,by-laworagreement.5.PartialIndemnification.IftheIndemniteeisentitledunderanyprovisionofthisAgreementtoindemnificationbytheCompanyforsomeoraportionofanyexpensesorliabilitiesofanytypewhatsoever(including,butnotlimitedto,judgments,fines,ERISAexcisetaxesandpenalties,andamountspaidinsettlement)incurredbyhimintheinvestigation,defense,settlementorappealofaproceeding,butnotentitled,however,toindemnificationforallofthetotalamounthereof,theCompanyshallneverthelessindemnifytheIndemniteeforsuchtotalamountexceptastotheportionhereoftowhichtheIndemniteeisnotentitled.6.MandatoryAdvancementofExpenses.SubjecttoSection8(a)below,theCompanyshalladvanceallexpensesincurredbytheIndemniteeinconnectionwiththeinvestigation,defense,settlementorappealofanyproceedingtowhichtheIndemniteeisapartyoristhreatenedtobemadeapartybyreasonofthefactthattheIndemniteeisorwasanagentoftheCompany.Indemniteeherebyundertakestorepaysuchamountsadvancedonlyif,andtotheextentthat,itshallbedeterminedultimatelythattheIndemniteeisnotentitledtobeindemnifiedbytheCompanyasauthorizedhereby.TheadvancestobemadehereundershallbepaidbytheCompanytotheIndemniteewithin_________(_________)daysfollowingdeliveryofawrittenrequestthereforbytheIndemniteetotheCompany.7.NoticeandOtherIndemnificationProcedures.(a)PromptlyafterreceiptbytheIndemniteeofnoticeofthecommencementoforthethreatofcommencementofanyproceeding,theIndemniteeshall,iftheIndemniteebelievesthatindemnificationwithrespecttheretomaybesoughtfromtheCompanyunderthisAgreement,notifytheCompanyofthecommencementorthreatofcommencementthereof.(b)If,atthetimeofthereceiptofanoticeofthecommencementofaproceedingpursuanttoSection7(a)hereof,theCompanyhasDOInsuranceineffect,theCompanyshallgivepromptnoticeofthecommencementofsuchproceedingtotheinsurersinaccordancewiththeproceduressetforthintherespectivepolicies.TheCompanyshallthereaftertakeallnecessaryordesirableactiontocausesuchinsurerstopay,onbehalfoftheIndemnitee,allamountspayableasaresultofsuchproceedinginaccordancewiththetermsofsuchpolicies.(c)IntheeventtheCompanyshallbeobligatedtopaytheexpensesofanyproceedingagainsttheIndemnitee,theCompany,ifappropriate,shallbeentitledtoassumethedefenseofsuchproceeding,withcounselapprovedbytheIndemnitee,uponthedeliverytotheIndemniteeofwrittennoticeofitselectionsotodo.Afterdeliveryofsuchnotice,approvalofsuchcounselbytheIndemniteeandtheretentionofsuchcounselbytheCompany,theCompanywillnotbeliabletotheIndemniteeunderthisAgreementforanyfeesofcounselsubsequentlyincurredbytheIndemniteewithrespecttothesameproceeding,providedthat(i)theIndemniteeshallhavetherighttoemployhiscounselinanysuchproceedingattheIndemnitee’sexpense;and(ii)if(A)theemploymentofcounselbytheIndemniteehasbeenpreviouslyauthorizedbytheCompany,(B)theIndemniteeshallhavereasonablyconcludedthattheremaybeaconflictofinterestbetweentheCompanyandtheIndemniteeintheconductofanysuchdefense;or(C)theCompanyshallnot,infact,haveemployedcounseltoassumethedefenseofsuchproceeding,thefeesandexpensesofIndemnitee’scounselshallbeattheexpenseoftheCompany.8.Exceptions.Anyotherprovisionhereintothecontrarynotwithstanding,theCompanyshallnotbeobligatedpursuanttothetermsofthisAgreement:(a)ClaimsInitiatedbyIndemnitee.ToindemnifyoradvanceexpensestotheIndemniteewithrespecttoproceedingsorclaimsinitiatedorbroughtvoluntarilybytheIndemniteeandnotbywayofdefense,unless(i)suchindemnificationisexpresslyrequiredtobemadebylaw,(ii)theproceedingwasauthorizedbytheBoard,(iii)suchindemnificationisprovidedbytheCompany,initssolediscretion,pursuanttothepowersvestedintheCompanyundertheGeneralCorporationLawof_________(address)or(iv)theproceedingisbroughttoestablishorenforcearighttoindemnificationunderthisAgreementoranyotherstatuteorlaworotherwiseasrequiredunderSection145.(b)LackofGoodFaith.ToindemnifytheIndemniteeforanyexpensesincurredbytheIndemniteewithrespecttoanyproceedinginstitutedbytheIndemniteetoenforceorinterpretthisAgreement,ifacourtofcompetentjurisdictiondeterminesthateachofthematerialassertionsmadebytheIndemniteeinsuchproceedingwasnotmadeingoodfaithorwasfrivolous;or(c)UnauthorizedSettlements.ToindemnifytheIndemniteeunderthisAgreementforanyamountspaidinsettlementofaproceedingunlesstheCompanyconsentstosuchsettlement,whichconsentshallnotbeunreasonablywithheld.9.Non-exclusivity.TheprovisionsforindemnificationandadvancementofexpensessetforthinthisAgreementshallnotbedeemedexclusiveofanyotherrightswhichtheIndemniteemayhaveunderanyprovisionoflaw,theCompany’sCertificateofIncorporationorBylaws,thevoteoftheCompany’sstockholdersordisinteresteddirectors,otheragreements,orotherwise,bothastoactioninhisofficialcapacityandtoactioninanothercapacitywhileoccupyinghispositionasanagentoftheCompany,andtheIndemnitee’srightshereundershallcontinueaftertheIndemniteehasceasedactingasanagentoftheCompanyandshallinuretothebenefitoftheheirs,executorsandadministratorsoftheIndemnitee.10.Enforcement.AnyrighttoindemnificationoradvancesgrantedbythisAgreementtoIndemniteeshallbeenforceablebyoronbehalfofIndemniteeinanycourtofcompetentjurisdictionif(i)theclaimforindemnificationoradvancesisdenied,inwholeorinpart,or(ii)nodispositionofsuchclaimismadewithin_________(_________)daysofrequesttherefor.Indemnitee,insuchenforcementaction,ifsuccessfulinwholeorinpart,shallbeentitledtobepaidalsotheexpenseofprosecutinghisclaim.ItshallbeadefensetoanyactionforwhichaclaimforindemnificationismadeunderthisAgreement(otherthananactionbroughttoenforceaclaimforexpensespursuanttoSection6hereof,providedthattherequiredundertakinghasbeentenderedtotheCompany)thatIndemniteeisnotentitledtoindemnificationbecauseofthelimitationssetforthinSections4and8hereof.NeitherthefailureoftheCorporation(includingitsBoardofDirectorsoritsstockholders)tohavemadeadeterminationpriortothecommencementofsuchenforcementactionthatindemnificationofIndemniteeisproperinthecircumstances,noranactualdeterminationbytheCompany(includingitsBoardofDirectorsoritsstockholders)thatsuchindemnificationisimproper,shallbeadefensetotheactionorcreateapresumptionthatIndemniteeisnotentitledtoindemnificationunderthisAgreementorotherwise.11.Subrogation.IntheeventofpaymentunderthisAgreement,theCompanyshallbesubrogatedtotheextentofsuchpaymenttoalloftherightsofrecoveryofIndemnitee,whoshallexecutealldocumentsrequiredandshalldoallactsthatmaybenecessarytosecuresuchrightsandtoenabletheCompanyeffectivelytobringsuittoenforcesuchrights.12.SurvivalofRights.(a)AllagreementsandobligationsoftheCompanycontainedhereinshallcontinueduringtheperiodIndemniteeisanagentoftheCompanyandshallcontinuethereaftersolongasIndemniteeshallbesubjecttoanypossibleclaimorthreatened,pendingorcompletedaction,suitorproceeding,whethercivil,criminal,arbitrational,administrativeorinvestigative,byreasonofthefactthatIndemniteewasservinginthecapacityreferredtoherein.(b)TheCompanyshallrequireanysuccessortotheCompany(whetherdirectorindirect,bypurchase,merger,consolidationorotherwise)toallorsubstantiallyallofthebusinessorassetsoftheCompany,expresslytoassumeandagreetoperformthisAgreementinthesamemannerandtothesameextentthattheCompanywouldberequiredtoperformifnosuchsuccessionhadtakenplace.13.InterpretationofAgreement.ItisunderstoodthatthepartiesheretointendthisAgreementtobeinterpretedandenforcedsoastoprovideindemnificationtotheIndemniteetothefullestextentpermittedbylawincludingthosecircumstancesinwhichindemnificationwouldotherwisebediscretionary.14.Severability.IfanyprovisionorprovisionsofthisAgreementshallbeheldtobeinvalid,illeg