IndemnityAgreement补偿协议完整篇doc文档格式.docx
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IndemnityAgreement补偿协议完整篇doc文档格式.docx
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A.TheCompanyisawarethatcompetentandexperiencedpersonsareincreasinglyreluctanttoserveasdirectorsorofficersofcorporationsunlesstheyareprotectedbycomprehensiveliabilityinsuranceand/orindemnification,duetoincreasedexposuretolitigationcostsandrisksresultingfromtheirservicetosuchcorporations,andduetothefactthattheexposurefrequentlybearsnoreasonablerelationshiptothecompensationofsuchdirectorsandofficers;
B.Basedontheirexperienceasbusinessmanagers,theBoardofDirectorsoftheCompany(theBOARD)hasconcludedthat,toretainandattracttalentedandexperiencedindividualstoserveasofficersanddirectorsoftheCompany,andtoencouragesuchindividualstotakethebusinessrisksnecessaryforthesuccessoftheCompany,itisnecessaryfortheCompanycontractuallytoindemnifyofficersanddirectorsandtoassumeforitselfmaximumliabilityforexpensesanddamagesinconnectionwithclaimsagainstsuchofficersanddirectorsinconnectionwiththeirservicetotheCompany;
C.Section145oftheGeneralCorporationLawof_________(PLACENAME),underwhichtheCompanyisorganized(theLAW),empowerstheCompanytoindemnifybyagreementitsofficers,directors,employeesandagents,andpersonswhoserve,attherequestoftheCompany,asdirectors,officers,employeesoragentsofothercorporationsorenterprises,andexpresslyprovidesthattheindemnificationprovidedbytheLawisnotexclusive;
and
D.TheCompanydesiresandhasrequestedtheIndemniteetoserveorcontinuetoserveasadirectororofficeroftheCompanyfreefromundueconcernforclaimsfordamagesarisingoutoforrelatedtosuchservicestotheCompany.
NOW,THEREFORE,thepartieshereto,intendingtobelegallybound,herebyagreeasfollows:
1.DEFINITIONS.
1.1Agent.ForthepurposesofthisAgreement,AGENToftheCompanymeansanypersonwhoisorwasadirectororofficeroftheCompanyorasubsidiaryoftheCompany;
orisorwasservingattherequestof,fortheconvenienceof,ortorepresenttheinterestoftheCompanyorasubsidiaryoftheCompanyasadirectororofficerofanotherforeignordomesticcorporation,partnership,jointventure,trustorotherenterpriseoranaffiliateoftheCompany;
orwasadirectororofficerofaforeignordomesticcorporationwhichwasapredecessorcorporationoftheCompany,including,withoutlimitation,AAACorporation,aCaliforniacorporation,orwasadirectororofficerofanotherenterpriseoraffiliateoftheCompanyattherequestof,fortheconvenienceof,ortorepresenttheinterestsofsuchpredecessorcorporation.ThetermENTERPRISEincludesanyemployeebenefitplanoftheCompany,itssubsidiaries,affiliatesandpredecessorcorporations.
1.2Expenses.ForpurposesofthisAgreement,EXPENSESincludesalldirectandindirectcostsofanytypeornaturewhatsoever(including,withoutlimitation,allattorneys’feesandrelateddisbursementsandotherout-of-pocketcosts)actuallyandreasonablyincurredbytheIndemniteeinconnectionwiththeinvestigation,defenseorappealofaproceedingorestablishingorenforcingarighttoindemnificationoradvancementofexpensesunderthisAgreement,theLaworotherwise.
1.3Proceeding.ForthepurposesofthisAgreement,PROCEEDINGmeansanythreatened,pendingorcompletedaction,suitorotherproceeding,whethercivil,criminal,administrative,investigativeoranyothertypewhatsoever.
1.4Subsidiary.ForpurposesofthisAgreement,SUBSIDIARYmeansanycorporationofwhichmorethanfiftypercent(50%)oftheoutstandingvotingsecuritiesisowneddirectlyorindirectlybytheCompany,bytheCompanyandoneormoreofitssubsidiariesorbyoneormoreoftheCompany’ssubsidiaries.
2.AGREEMENTTOSERVE.TheIndemniteeagreestoserveand/orcontinuetoserveasanagentoftheCompany,atthewilloftheCompany(orunderseparateagreement,ifsuchagreementexists),inthecapacitytheIndemniteecurrentlyservesasanagentoftheCompany,faithfullyandtothebestofhisability,solongasheisdulyappointedorelectedandqualifiedinaccordancewiththeapplicableprovisionsofthecharterdocumentsoftheCompanyoranysubsidiaryoftheCompany;
provided,however,thattheIndemniteemayatanytimeandforanyreasonresignfromsuchposition(subjecttoanycontractualobligationthattheIndemniteemayhaveassumedapartfromthisAgreement),andtheCompanyoranysubsidiaryshallhavenoobligationunderthisAgreementtocontinuetheIndemniteeinanysuchposition.
3.DIRECTORS’ANDOFFICERS’INSURANCE.TheCompanyshall,totheextentthattheBoarddeterminesittobeeconomicallyreasonable,maintainapolicyofdirectors’andofficers’liabilityinsurance(DOINSURANCE),onsuchtermsandconditionsasmaybeapprovedbytheBoard.
4.MANDATORYINDEMNIFICATION.SubjecttoSection9below,theCompanyshallindemnifytheIndemnitee:
4.1ThirdPartyActions.IftheIndemniteeisapersonwhowasorisapartyoristhreatenedtobemadeapartytoanyproceeding(otherthananactionbyorintherightoftheCompany)byreasonofthefactthatheisorwasanagentoftheCompany,orbyreasonofanythingdoneornotdonebyhiminanysuchcapacity,againstanyandallexpensesandliabilitiesofanytypewhatsoever(including,butnotlimitedto,judgments,fines,ERISAexcisetaxesorpenaltiesandamountspaidinsettlement)actuallyandreasonablyincurredbyhiminconnectionwiththeinvestigation,defense,settlementorappealofsuchproceedingifheactedingoodfaithandinamannerhereasonablybelievedtobein,ornotopposedto,thebestinterestsoftheCompanyand,withrespecttoanycriminalactionorproceeding,hadnoreasonablecausetobelievehisconductwasunlawful.
4.2DerivativeActions.IftheIndemniteeisapersonwhowasorisapartyoristhreatenedtobemadeapartytoanyproceedingbyorintherightoftheCompanytoprocureajudgmentinitsfavorbyreasonofthefactthatheisorwasanagentoftheCompany,orbyreasonofanythingdoneornotdonebyhiminanysuchcapacity,againstanyamountspaidinsettlementofanysuchproceedingandallexpensesactuallyandreasonablyincurredbyhiminconnectionwiththeinvestigation,defense,settlementorappealofsuchproceedingifheactedingoodfaithandinamannerhereasonablybelievedtobein,ornotopposedto,thebestinterestsoftheCompany;
exceptthatnoindemnificationunderthissubsectionshallbemadeinrespectofanyclaim,issueormatterastowhichsuchpersonshallhavebeenfinallyadjudgedtobeliabletotheCompanybyacourtofcompetentjurisdictionduetowillfulmisconductofaculpablenatureintheperformanceofhisdutytotheCompany,unlessandonlytotheextentthattheCourtofChanceryorthecourtinwhichsuchproceedingwasbroughtshalldetermineuponapplicationthat,despitetheadjudicationofliabilitybutinviewofallthecircumstancesofthecase,suchpersonisfairlyandreasonablyentitledtoindemnityforsuchamountswhichtheCourtofChanceryorsuchothercourtshalldeemproper.
4.3ExceptionforAmountsCoveredbyInsurance.Notwithstandingtheforegoing,theCompanyshallnotbeobligatedtoindemnifytheIndemniteeforexpensesorliabilitiesofanytypewhatsoever(including,butnotlimitedto,judgments,fines,ERISAexcisetaxesorpenaltiesandamountspaidinsettlement)totheextentsuchhavebeenpaiddirectlytotheIndemniteebyDOInsurance.
5.PARTIALINDEMNIFICATIONANDCONTRIBUTION.
5.1PartialIndemnification.IftheIndemniteeisentitledunderanyprovisionofthisAgreementtoindemnificationbytheCompanyforsomeoraportionofanyexpensesorliabilitiesofanytypewhatsoever(including,butnotlimitedto,judgments,fines,ERISAexcisetaxesorpenaltiesandamountspaidinsettlement)incurredbyhimintheinvestigation,defense,settlementorappealofaproceedingbutisnotentitled,however,toindemnificationforallofthetotalamountthereof,thentheCompanyshallneverthelessindemnifytheIndemniteeforsuchtotalamountexceptastotheportionthereoftowhichtheIndemniteeisnotentitledtoindemnification.
5.2Contribution.IftheIndemniteeisnotentitledtotheindemnificationprovidedinSection4foranyreasonotherthanthestatutorylimitationssetforthintheLaw,theninrespectofanythreatened,pendingorcompletedproceedinginwhichtheCompanyisjointlyliablewiththeIndemnitee(orwouldbeifjoinedinsuchproceeding),theCompanyshallcontributetotheamountofexpenses(includingattorneys’fees),judgments,finesandamountspaidinsettlementactuallyandreasonablyincurredandpaidorpayablebytheIndemniteeinsuchproportionasisappropriatetoreflect(i)therelativebenefitsreceivedbytheCompanyontheonehandandtheIndemniteeontheotherhandfromthetransactionfromwhichsuchproceedingaroseand(ii)therelativefaultoftheCompanyontheonehandandoftheIndemniteeontheotherhandinconnectionwiththeeventswhichresultedinsuchexpenses,judgments,finesorsettlementamounts,aswellasanyotherrelevantequitableconsiderations.TherelativefaultoftheCompanyontheonehandandoftheIndemniteeontheotherhandshallbedeterminedbyreferenceto,amongotherthings,theparties’relativeintent,knowledge,accesstoinformationandopportunitytocorrectorpreventthecircumstancesresultinginsuchexpenses,judgments,finesorsettlementamounts.TheCompanyagreesthatitwouldnotbejustandequitableifcontributionpursuanttothisSection5weredeterminedbyprorataallocationoranyother
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