IndemnificationAgreementDirector补偿协议doc.docx

IndemnificationAgreementDirector补偿协议doc.docx

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IndemnificationAgreementDirector补偿协议doc

IndemnificationAgreement[Director]补偿协议-

THISAGREEMENTismadeandenteredintothis_________（M,D,Y）betweenAAA,Inc.,a_________（PLACENAME）corporation（Corporation）,whoseaddressis_________and_________（Director）,whoseaddressis_________.RECITALS:

A.WHEREAS,Director,amemberoftheBoardofDirectorsofCorporation（theBoard）,performsavaluableserviceinsuchcapacityforCorporation;andB.WHEREAS,thestockholdersofCorporationhaveadoptedBylaws（theBylaws）providingfortheindemnificationoftheofficers,directors,agentsandemployeesofCorporationtothemaximumextentauthorizedbySection145oftheDelawareGeneralCorporationLaw,asamended（theLawandC.WHEREAS,theBylawsandtheLaw,asamendedandineffectfromtimetotimeoranysuccessororotherstatutesof_________（PLACENAME）havingsimilarimportandeffect,currentlypurporttobethecontrollinglawgoverningCorporationwithrespecttocertainaspectsofcorporatelaw,includingindemnificationofdirectorsandofficers;andD.WHEREAS,inaccordancewiththeauthorizationprovidedbytheLaw,CorporationmayfromtimetotimepurchaseandmaintainapolicyorpoliciesofBBBInsurance（BBBInsurance）,coveringcertainliabilitieswhichmaybeincurredbyitsdirectorsandofficersintheperformanceofservicesasdirectorsandofficersofCorporation;andE.WHEREAS,asaresultofdevelopmentsaffectingtheterms,scopeandavailabilityofBBBInsurancethereexistsgeneraluncertaintyastotheextentandoveralldesirabilityofprotectionaffordedmembersoftheBoardofDirectorsbysuchBBBInsurance,ifany,andbystatutoryandbylawindemnificationprovisions;andF.WHEREAS,inordertoinduceDirectortocontinuetoserveasamemberoftheBoard,CorporationhasdeterminedandagreedtoenterintothiscontractwithDirector.NOW,THEREFORE,inconsiderationofDirector’scontinuedserviceasadirectorafterthedatehereof,thepartiesheretoagreeasfollows:

1.CERTAINDEFINITIONS.ThefollowingtermsusedinthisAgreementshallhavethemeaningssetforthbelow.OthertermsaredefinedwhereappropriateinthisAgreement.（a）DISINTERESTEDDIRECTORshallmeanadirectorofCorporationwhoisnotorwasnotapartytotheProceedinginrespectofwhichindemnificationisbeingsoughtbyDirector.（b）EXPENSESshallincludealldirectandindirectcosts（including,withoutlimitation,attorneys’fees,retainers,courtcosts,transcripts,feesofexperts,witnessfees,travelexpenses,duplicatingcosts,printingandbindingcosts,telephonecharges,postage,deliveryservicefees,allotherdisbursementsorout-of-pocketexpensesandreasonablecompensationfortimespentbyDirectorforwhichheorsheisotherwisenotcompensatedbyCorporation）actuallyandreasonablyincurredinconnectionwithaProceedingorestablishingorenforcingarighttoindemnificationunderthisAgreement,applicablelaworotherwise;provided,however,thatExpensesshallnotincludeanyLiabilities.（c）FINALADVERSEDETERMINATIONshallmeanthatadeterminationthatDirectorisnotentitledtoindemnificationshallhavebeenmadepursuanttoSection5hereofandeither（i）afinaladjudicationina_________（PLACENAME）courtordecisionofanarbitratorpursuanttoSection13（a）hereofshallhavedeniedDirector’srighttoindemnificationhereunder,or（ii）Directorshallhavefailedtofileacomplaintina_________（PLACENAME）courtorseekanarbitrator’sawardpursuanttoSection13（a）foraperiodofonehundredtwenty（120）daysafterthedeterminationmadepursuanttoSection5hereof.（d）INDEPENDENTLEGALCOUNSELshallmeanalawfirmormemberofalawfirmselectedbyCorporationandapprovedbyDirector（whichapprovalshallnotbeunreasonablywithheld）andthatneitherispresentlynorinthepastfiveyearshasbeenretainedtorepresent:

（i）Corporation,inanymaterialmatter,or（ii）anyotherpartytotheProceedinggivingrisetoaclaimforindemnificationhereunder.Notwithstandingtheforegoing,thetermIndependentLegalCounselshallnotincludeanypersonwho,undertheapplicablestandardsofprofessionalconductthenprevailing,wouldhaveaconflictofinterestinrepresentingeitherCorporationorDirectorinaProceedingtodetermineDirector’srighttoindemnificationunderthisAgreement.（e）LIABILITIESshallmeanliabilitiesofanytypewhatsoeverincluding,butnotlimitedto,anyjudgments,fines,ERISAexcisetaxesandpenalties,andpenaltiesandamountspaidinsettlement（includingallinterestassessmentsandotherchargespaidorpayableinconnectionwithorinrespectofsuchjudgments,fines,penaltiesoramountspaidinsettlement）ofanyproceeding.（f）PROCEEDINGshallmeananythreatened,pendingorcompletedaction,claim,suit,arbitration,alternativedisputeresolutionmechanism,investigation,administrativehearingoranyotherproceedingwhethercivil,criminal,administrativeorinvestigative,includinganyappealtherefrom.（g）CHANGEOFCONTROLshallmeantheoccurrenceofanyofthefollowingeventsafterthedateofthisAgreement:

（i）AchangeinthecompositionoftheBoard,asaresultofwhichfewerthantwo-thirds（2/3）oftheincumbentdirectorsaredirectorswhoeither

（1）hadbeendirectorsofCorporationtwenty-four（24）monthspriortosuchchangeor

（2）wereelected,ornominatedforelection,totheBoardwiththeaffirmativevotesofatleastamajorityofthedirectorswhohadbeendirectorsofCorporation24monthspriortosuchchangeandwhowerestillinofficeatthetimeoftheelectionornomination;or（ii）Anyperson（assuchtermisusedinsection13（d）and14（d）oftheSecuritiesExchangeActof1934,asamended）throughtheacquisitionoraggregationofsecuritiesisorbecomesthebeneficialowner,directlyorindirectly,ofsecuritiesofCorporationrepresentingtwentypercent（20%）ormoreofthecombinedvotingpowerofCorporation’sthenoutstandingsecuritiesordinarily（andapartfromrightsaccruingunderspecialcircumstances）havingtherighttovoteatelectionsofdirectors（theCapitalStock）,exceptthatanychangeinownershipofCorporation’ssecuritiesbyanypersonresultingsolelyfromareductionintheaggregatenumberofoutstandingsharesofCapitalStock,andanydecreasethereafterinsuchperson’sownershipofsecurities,shallbedisregardeduntilsuchpersonincreasesinanymanner,directlyorindirectly,suchperson’sbeneficialownershipofanysecuritiesofCorporation.2.INDEMNITYOFDIRECTOR.CorporationherebyagreestoholdharmlessandindemnifyDirectortothefullestextentauthorizedorpermittedbytheprovisionsoftheLaw,asmaybeamendedfromtimetotime.3.ADDITIONALINDEMNITY.SubjectonlytotheexclusionssetforthinSection4hereof,CorporationherebyfurtheragreestoholdharmlessandindemnifyDirector:

（a）againstanyandallExpensesinconnectionwithanyProceeding（includinganactionbyorintherightofCorporation）towhichDirectoris,wasoratanytimebecomesaparty,oristhreatenedtobemadeaparty,byreasonofthefactthatDirectoris,wasoratanytimebecomesadirector,officer,employeeoragentofCorporation,orisorwasservingoratanytimeservesattherequestofCorporationasadirector,officer,employeeoragentofanothercorporation,partnership,jointventure,trust,employeebenefitplanorotherenterprise;and（b）otherwisetothefullestextentasmaybeprovidedtoDirectorbyCorporationunderthenon-exclusivityprovisionsoftheBylawsofCorporationandtheLaw.4.LIMITATIONSONADDITIONALINDEMNITY.NoindemnitypursuanttoSection3hereofshallbepaidbyCorporation:

（a）excepttotheextenttheaggregateoflossestobeindemnifiedthereunderexceedsthesumofsuchlossesforwhichtheDirectorisindemnifiedpursuanttoSection2hereoforreimbursedpursuanttoanyBBBInsurancepurchasedandmaintainedbyCorporation;（b）inrespectofremunerationpaidtoDirectorifitshallbedeterminedbyafinaljudgmentorotherfinaladjudicationthatsuchremunerationwasinviolationoflaw;（c）onaccountofanyProceedinginwhichjudgmentisrenderedagainstDirectorforanaccountingofprofitsmadefromthepurchaseorsalebyDirectorofsecuritiesofCorporationpursuanttotheprovisionsofSection16（b）oftheSecuritiesExchangeActof1934andamendmentstheretoorsimilarprovisionsofanyfederal,stateorlocalstatutorylaw;（d）onaccountofaFinalAdverseDeterminationthatDirector’sconductwasknowinglyfraudulentordeliberatelydishonestorconstitutedwillfulmisconduct;（e）providedtherehasbeennoChangeofControl,onaccountoforarisinginresponsetoanyProceeding（otherthanaProceedingreferredtoinSection10（b）hereof）initiatedbyDirectororanyofDirector’saffiliatesagainstCorporationoranyofficer,directororstockholderofCorporationunlesssuchProceedingwasauthorizedinthespecificcasebyactionoftheBoardofDirectorsofCorporation;（f）ifafinaldecisionbyaCourthavingjurisdictioninthemattershalldeterminethatsuchindemnificationisnotlawful;or（g）onaccountofanyProceedingtotheextentthatDirectorisaplaintiff,acounter-complainantoracross-complainanttherein（otherthanaProceedingpermittedbySection4（e）hereof）.5.PROCEDUREFORDETERMINATIONOFENTITLEMENTTOINDEMNIFICATION.（a）WheneverDirectorbelievesthatheorsheisentitledtoindemnificationpursuanttothisAgreement,DirectorshallsubmitawrittenrequestforindemnificationtoCorporation.AnyrequestforindemnificationshallincludesufficientdocumentationorinformationreasonablyavailabletoDirectortosupporthisorherclaimforindemnification.Directo