Exhibit 10.1


 


INDEMNIFICATION AGREEMENT


 


THIS AGREEMENT, dated
as of [●], is by and between ABM Industries Incorporated, a Delaware corporation (the “Company”), and
[●] (the “Indemnitee”).


 


WHEREAS, it is essential
to the Company to retain and attract as directors and officers the most capable persons available;


 


WHEREAS, the Company
desires to have the Indemnitee serve or continue to serve as a director and/or officer of the Company;


 


WHEREAS, the Company
and the Indemnitee recognize the increased risk of litigation and other claims being asserted against directors and officers of
companies in today’s environment;


 


WHEREAS, basic protection
against undue risk of personal liability of directors and officers heretofore has been provided through insurance coverage providing
reasonable protection at reasonable cost, and the Indemnitee has relied on the availability of such coverage; but as a result of
substantial changes in the marketplace for such insurance it has become increasingly difficult to obtain such insurance on terms
providing reasonable protection at reasonable cost;


 


WHEREAS, the Company’s
Bylaws, as amended and restated (the “Bylaws”), require the Company to indemnify and advance expenses to its
directors and officers to the extent provided therein, and the Indemnitee serves as a director and/or officer of the Company, in
part, in reliance on such provisions in the Bylaws;


 


WHEREAS, the current
difficulty in obtaining adequate director and officer liability insurance coverage at a reasonable cost, and uncertainties as to
the availability of indemnification created by recent court decisions, have increased the risk that the Company will be unable
to retain and attract as directors and officers the most capable persons available;


 


WHEREAS, the Company
has determined that its inability to retain and attract as directors and officers the most capable persons would be detrimental
to the interests of the Company, and that the Company therefore should seek to assure such persons that indemnification and insurance
coverage will be available in the future;


 


WHEREAS, in recognition
of the Indemnitee’s need for substantial protection against personal liability in order to enhance the Indemnitee’s
contemplated service or continued service to the Company in an effective manner, the increasing difficulty in obtaining satisfactory
director and officer liability insurance coverage, and the Indemnitee’s reliance on the Bylaws, and in part to provide the
Indemnitee with specific contractual assurance that the protection promised by the Bylaws will be available to the Indemnitee (regardless
of, among other things, any amendment to or revocation of the applicable provisions of the Bylaws or any change in the composition
of the Company’s Board of Directors or acquisition transaction relating to the Company), the Company wishes to provide in
this Agreement for the indemnification of and the advancing of


 




    	 		 



     

    

 


expenses to the Indemnitee
to the fullest extent (whether partial or complete) permitted by applicable law and as set forth in this Agreement, and, to the
extent insurance is maintained, for the continued coverage of the Indemnitee under the directors’ and officers’ liability
insurance policy of the Company; and


 


WHEREAS, this Agreement
is a supplement to and in furtherance of the Company’s Certificate of Incorporation and Bylaws and any resolutions adopted
pursuant thereto and shall not be deemed a substitute thereof, nor to diminish or abrogate any rights of Indemnitee thereunder;


 


NOW, THEREFORE, in
consideration of the premises and of the Indemnitee agreeing to serve, or continuing to serve, the Company after the date hereof
directly or, at its request, as an officer, director, manager, member, partner, tax matters partner, fiduciary or trustee of, or
in any other capacity with, another Person (as defined below) or any employee benefit plan, the sufficiency of which is hereby
acknowledged, and intending to be legally bound hereby, the parties hereto agree as follows:


 


1.            Certain
Definitions. In addition to terms defined elsewhere herein, the following terms have the following meanings when used in this
Agreement:


 


(a)          Agreement:
means this Indemnification Agreement, as amended from time to time hereafter.


 


(b)          Board
of Directors: means the Board of Directors of the Company.


 


(c)          Change
in Control shall be deemed to have occurred upon any of the following events:


 


(i)     A
merger, recapitalization, consolidation, or other similar transaction to which the Company is a party, unless securities representing
at least 50% of the combined voting power of the then-outstanding securities of the surviving entity or a parent thereof are immediately
thereafter beneficially owned, directly or indirectly and in substantially the same proportion, by the persons who beneficially
owned the Company’s outstanding voting securities immediately before the transaction;


 


(ii)     A
sale, transfer or disposition of all or substantially all of the Company’s assets, unless securities representing at least
50% of the combined voting power of the then-outstanding securities of the entity acquiring the Company’s assets or parent
thereof are immediately thereafter beneficially owned, directly or indirectly and in substantially the same proportion, by the
persons who beneficially owned the Company’s outstanding voting securities immediately before the transaction; or


 


(iii)  A
merger, recapitalization, consolidation or other transaction to which the Company is a party or the sale, transfer or other


 




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disposition
of all or substantially all of the Company’s assets if, in either case, the members of the Company’s Board of Directors
immediately prior to consummation of the transaction do not, upon consummation of the transaction, constitute at least a majority
of the board of directors of the surviving entity or the entity acquiring the Company’s assets, as the case may be, or a
parent thereof (for this purpose, any change in the composition of the Company’s Board of Directors that is anticipated or
pursuant to an understanding or agreement in connection with a transaction will be deemed to have occurred at the time of the transaction).


 


(d)          Claim:
shall be broadly construed and shall include the investigation, preparation, prosecution, defense, settlement, mediation, arbitration
and appeal of, and the giving of testimony in any threatened, asserted, pending or completed suit, investigation, inquiry, hearing,
mediation, arbitration, other alternative dispute mechanism or any other proceeding, whether civil, criminal, administrative, legislative,
investigative or other action, suit or proceeding of any kind whatsoever, whether formal or informal, or any appeal of any kind
therefrom, whether instituted by or in the right of the Company, the Board of Directors of the Company, any committee thereof,
a class of its security holders, any governmental agency or any other party, or any inquiry, hearing or investigation (including
any internal investigation), that the Indemnitee in good faith believes might lead to the institution of any such action, suit
or proceeding, whether civil, criminal, administrative, legislative, investigative or other, including any mediation, arbitration
or other alternative dispute resolution mechanism.


 


(e)          Exchange
Act: means the Securities Exchange Act of 1934, as amended.


 


(f)          Indemnifiable
Expenses: shall be broadly construed and shall include all direct and indirect losses, liabilities, expenses, including fees
and expenses of attorneys, fees and expenses of accountants, court costs, transcript costs, fees and expenses of experts, witness
fees and expenses, travel expenses, printing and binding costs, telephone charges, delivery service fees, the premium, security
for, and other costs relating to any bond (including cost bonds, appraisal bonds, or their equivalents), judgments, fines (including
excise taxes assessed on a person with respect to an employee benefit plan) and amounts paid in settlement and all other disbursements
or expenses of the types customarily incurred in connection with (i) the investigation, prosecution, defense, appeal or settlement
of a Proceeding, (ii) serving as an actual or prospective witness, or preparing to be a witness in a Proceeding, or other participation
in, or other preparation for, any Proceeding, (iii) any compulsory interviews or depositions related to a Proceeding, (iv) any
non-compulsory


 




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interviews
or depositions related to a Proceeding, subject to the person receiving advance written approval by the Company to participate
in such interviews or depositions, (v) responding to, or objecting to, a request to provide discovery in any Proceeding, and (vi)
establishing or enforcing a right to indemnification under this Agreement, the Bylaws, applicable law or otherwise. Indemnifiable
Expenses shall also include any federal, state, local and foreign taxes imposed on such person as a result of the actual or deemed
receipt of any payments under this Agreement. For the avoidance of doubt, the term “Indemnifiable Expenses” shall not
include any Indemnifiable Liabilities.


 


(g)          Indemnifiable
Event: means any event or occurrence, whether occurring before, on or after the date of this Agreement, related to or arising
from (i) the performance of, or the failure to perform, the Indemnitee’s duties or obligations to the Company or any of its
subsidiaries, in the Indemnitee’s capacity as an officer, director, manager, member, partner, tax matters partner, employee,
agent, fiduciary or trustee, (ii) an action or inaction by the Indemnitee in such capacity (whether or not serving in such capacity
at the time any Indemnifiable Expenses or Indemnifiable Liabilities are incurred for which indemnity can be provided under this
Agreement) or (iii) the Indemnitee’s status of being or having been an officer, director, manager, member, partner, tax matters
partner, employee, agent, fiduciary or trustee of, or having served in any other capacity with, the Company or any of its subsidiaries,
or an Other Enterprise at the request of the Company.


 


(h)          Indemnifiable
Liabilities: means any losses or liabilities, including any judgments, fines, excise taxes, penalties and amounts paid in settlement
(with the approval of the Company), arising out of or in connection with any Claim by reason of (or arising in part out of) an
Indemnifiable Event (including all interest, assessments and other charges paid or payable in connection with or in respect of
any such judgments, fines, excise taxes, penalties or amounts paid in settlement).


 


(i)          Independent
Counsel: means a law firm, a member of a law firm, or an independent practitioner, that is experienced in matters of corporate
law and neither currently is, nor in the five (5) years previous to its selection has been, retained to represent (i) the Company
or the Indemnitee in any matter material to either such party (other than with respect to matters concerning the Indemnitee under
this Agreement or of other indemnitees under similar indemnification agreements) or (ii) any other party to the Claim giving rise
to a claim for indemnification hereunder.


 




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Notwithstanding
the foregoing, the term “Independent Counsel” shall not include any Person who, under the applicable standards of professional
conduct then prevailing, would have a conflict of interest in representing either the Company or the Indemnitee in an action to
determine the Indemnitee’s rights under this Agreement. The Company agrees to pay the reasonable fees and expenses of the
Independent Counsel referred to above.


 


(j)          “Other
Enterprise” means another corporation, partnership, limited liability company, joint venture, trust, association or other
enterprise, whether for profit or not-for-profit, including any subsidiaries of the Company, any entities formed by the Company
and any employee benefit plans maintained or sponsored by the Company where the Indemnitee is serving in any capacity at the request
of the Company.


 


(k)          Person:
means any individual, corporation, firm, partnership, joint venture, limited liability company, estate, trust, business association,
organization, governmental entity or other entity.


 


(l)          The
term “Proceeding” shall be broadly construed and shall include the investigation, preparation, prosecution,
defense, settlement, mediation, arbitration and appeal of, and the giving of testimony in, any threatened, pending or completed
action, suit, investigation (including any internal investigation), inquiry, hearing, mediation, arbitration, other alternative
dispute mechanism or any other proceeding, whether civil, criminal, administrative, legislative, investigative or otherwise and
whether formal or informal, including an action initiated by Indemnitee to enforce Indemnitee’s rights to indemnification
under this Agreement, and whether instituted by or in the right of the Company, a governmental agency, the Board of Directors of
the Company, any committee thereof, a class of its security holders or any other party.


 


2.            Basic
Indemnification Arrangement; Advancement of Expenses.


 


(a)          In
the event that the Indemnitee was, is or becomes subject to, a party to or witness or other participant in, or is threatened to
be made subject to, a party to or witness or other participant in, a Claim by reason of (or arising in part out of) an Indemnifiable
Event, including Claims brought by or in the right of the Company, Claims brought by third parties, and Claims in which the Indemnitee
is solely a witness, the Company shall indemnify the Indemnitee, or cause such Indemnitee to be indemnified, to the fullest extent
permitted by the Delaware General Corporation Law (“Delaware law”) as the same exists now or as it may be hereinafter
amended, but, in the case of any such amendment, only to the extent that such amendment permits the Company to provide broader
indemnification rights than Delaware law permitted the Company to provide prior to such amendment, against any and all Indemnifiable
Expenses and Indemnifiable Liabilities for such Claim. If, in regard to any Indemnifiable Expenses or Indemnifiable


 




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Liabilities, (i) the
Indemnitee shall be entitled to indemnification pursuant to Section 2(g) or Section 4, (ii) no determination with respect to the
Indemnitee’s entitlement is legally required as a condition to indemnification of the Indemnitee hereunder, or (iii) the
Indemnitee has been determined pursuant to Section 2(e) to be entitled to indemnification hereunder, then payments of Indemnifiable
Expenses and Indemnifiable Liabilities shall be made as soon as practicable but in any event no later than thirty (30) calendar
days after the later of (A) the date on which written demand is presented to the Company pursuant to Section 2(d) or (B) the earliest
date on which the applicable criterion specified in clause (i), (ii) or (iii) of this Section 2(a) is satisfied.


 


(b)          Expenses
incurred by or on behalf of the Indemnitee in connection with investigating, defending, settling or appealing any Proceeding shall
be paid by the Company in advance of the final disposition of such Proceeding (“Expense Advance”). Except as
provided in the following sentence, the Company shall promptly pay the amount of such Expenses to the Indemnitee, but in no event
later than ten (10) calendar days after the receipt by the Company of a statement or statements from the Indemnitee requesting
such advance or advances pursuant to this Section 2(b), together with a reasonable accounting of such Expenses. The right
to Expense Advance shall not apply to (i) any Proceeding against an officer, director or other agent of the Company brought
by the Company and approved by a majority of the authorized members of the Board which alleges willful misappropriation of corporate
assets by such officer, director or other agent, wrongful disclosure of confidential information, or any other willful and deliberate
breach in bad faith of such officer’s, director’s or other agent’s duty to the Company or its shareholders, or
(ii) any claim for which indemnification is excluded pursuant to this Agreement, but shall apply to any Proceeding referenced
in Section 2(c)(iii) or Section 2(c)(iv) of this Agreement prior to a determination that the person is not entitled to be indemnified
by the Company. The obligation of the Company to make an Expense Advance pursuant to this Section 2(b) shall be conditioned upon
delivery to the Company of an undertaking in writing by or on behalf of the Indemnitee in which the Indemnitee undertakes and agrees
to repay to the Company any advances made pursuant to this Section 2(b) if
and to the extent that it shall ultimately be determined (in accordance with this Section
2 or by final judicial determination from which there is no further right to appeal, as applicable) that the Indemnitee is not
entitled to be indemnified by the Company for such amounts. The Company shall make the advances contemplated by this Section
2(b) regardless of the Indemnitee’s financial ability to make repayment, and regardless
of whether indemnification of the Indemnitee by the Company will ultimately be required. Any advances pursuant to this Section
2(b) shall be unsecured and interest-free. Except as set forth in this Section 2(b),
the Company shall not impose on the Indemnitee additional conditions to Expense Advance or require from the Indemnitee additional
undertakings regarding repayment. Advancements shall include any and all reasonable Expenses incurred pursuing an action to enforce
the Indemnitee’s right of advancement, including Expenses incurred preparing and forwarding statements to the Company to
support the advancements claimed.


 


(c)          Notwithstanding
anything in this Agreement to the contrary, the Indemnitee shall not be entitled to indemnification or advancement of Indemnifiable
Expenses or Indemnifiable Liabilities pursuant to this Agreement (i) in connection with


 




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any Claim (or any part
of any Claim) initiated by the Indemnitee (other than any cross claim, counterclaim or affirmative defense asserted by the Indemnitee
in an action brought against Indemnitee), including any Claim (or any part of any Claim) initiated by the Indemnitee against the
Company, any entity that it controls, any of the directors, officers, or employees thereof, other indemnitees or any third party,
unless (A) the Company has joined in or the Board of Directors of the Company has authorized or consented to the initiation of
such Claim, (B) it is a Claim referenced in Section 3 below, (C) the Company provides the indemnification, in its sole discretion,
pursuant to the powers vested in the Company under applicable law, (D) otherwise made under Section 2(b), or (E) otherwise required
by applicable law, (ii) if a final adjudication by a court of competent jurisdiction determines that such indemnification is prohibited
by applicable law, (iii) on account of any Proceeding for an accounting of profits made from the purchase and sale (or sale and
purchase) by the Indemnitee of securities of the Company within the meaning of Section 16(b) of the Exchange Act or similar provisions
of state statutory law or common law, (iv) on account of any Proceeding for any reimbursement of the Company by the Indemnitee
of any bonus or other incentive-based or equity-based compensation or of any profits realized by the Indemnitee from the sale of
securities of the Company, as required in each case under the Exchange Act (including any such reimbursements that arise from an
accounting restatement of the Company pursuant to Section 304 of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”),
or the payment to the Company of profits arising from the purchase and sale by the Indemnitee of securities in violation of Section
306 of the Sarbanes-Oxley Act), or (v) as limited by Section 13 of this Agreement.


 


(d)          To
obtain indemnification under this Agreement, the Indemnitee shall deliver to the Secretary of the Company a written request for
indemnification, including therein or therewith such documentation and information as is reasonably available to the Indemnitee
and is reasonably necessary to determine whether and to what extent the Indemnitee is entitled to indemnification hereunder. The
Secretary of the Company shall, promptly upon receipt of such a request for indemnification, advise the Board of Directors of the
Company in writing that Indemnitee has requested indemnification.


 


(e)          Upon
written request by Indemnitee for indemnification pursuant to the first sentence of Section 2(d), a determination, if required
by applicable law, with respect to Indemnitee’s entitlement thereto shall be made in the specific case by one of the following
four methods: (i) by majority vote of a quorum consisting of directors who are not parties to such Claim (“Disinterested
Directors”), (ii) if such a quorum of Disinterested Directors cannot be obtained, by majority vote of a committee duly
designated by the Board of Directors (all directors, whether or not Disinterested Directors, may participate in such designation)
consisting solely of two or more Disinterested Directors, (iii) if such a committee cannot be designated, by any Independent Counsel
selected (A) by the Board of Directors (as prescribed in clause (i) above), (B) by the committee of the Board of Directors (as
prescribed in clause (ii) above) or (C) if a quorum of the Board of Directors cannot be obtained for clause (i) above and the committee
cannot be designated under clause (ii) above, by majority vote of the full Board of Directors (in which directors who are parties
to the Claim may participate), in a written opinion to the Board of Directors, a copy of which shall be delivered to the Indemnitee,
or (iv) if such Independent Counsel


 




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determination cannot
be obtained, by majority vote of a quorum of stockholders consisting of stockholders who are not parties to such Claim, or if no
such quorum is obtainable, by a majority vote of stockholders who are not parties to such Claim), using its best efforts to make
such determination as promptly as is reasonably practicable under the circumstances, that the Indemnitee is entitled to be indemnified
under applicable law. If it is so determined that the Indemnitee is entitled to indemnification, payment to the Indemnitee shall
be made within 30 calendar days after such determination. The Indemnitee shall reasonably cooperate with the Person or Persons
making such determination with respect to the Indemnitee’s entitlement to indemnification, including providing to such Person
or Persons upon reasonable advance request any documentation or information which is not privileged or otherwise protected from
disclosure and which is reasonably available to the Indemnitee and reasonably necessary to such determination. Any costs or expenses
(including attorneys’ fees and disbursements) actually and reasonably incurred by the Indemnitee in so cooperating with the
Person or Persons making such determination shall be borne by the Company (irrespective of the determination as to the Indemnitee’s
entitlement to indemnification) and the Company hereby indemnifies and agrees to hold Indemnitee harmless therefrom. Any determination
by the Company (including by its directors, stockholders or any Independent Counsel) otherwise (that the Indemnitee is entitled
to indemnification) shall be conclusive and binding on the Company and the Indemnitee. The Company agrees that all costs incurred
by the Company in making the determination under this Section 2(e) shall be borne solely by the Company, including, but not
limited to, the costs of legal counsel (including any Independent Counsel serving under this Section 2(e)), proxy solicitations
and judicial determinations.


 


(f)          If
(x) the Company (including by its directors, stockholders or any Independent Counsel) determines that the Indemnitee is not entitled
to be indemnified in whole or in part under applicable law, (y) any amount of Indemnifiable Expenses or Indemnifiable Liabilities
is not paid in full by the Company according to Section 2(a) after a determination is made pursuant to Section 2(e) that
the Indemnitee is entitled to be indemnified, or (z) any amount of Expense Advance is not paid in full by the Company according
to Section 2(b) after a request and an undertaking pursuant to Section 2(b) have been received by the Company, in each
case, the Indemnitee shall have the right to commence litigation in any court in the State of Delaware having subject matter jurisdiction
thereof and in which venue is proper, either challenging any such determination, which shall not be binding, or any aspect thereof
(including the legal or factual bases therefor), seeking to recover the unpaid amount of Indemnifiable Expenses, Indemnifiable
Liabilities or Expense Advance, as applicable, and otherwise to enforce the Company’s obligations under this Agreement. The
Company hereby consents to service of process and to appear in any such proceeding. If the Indemnitee commences legal proceedings
in a court of competent jurisdiction to secure a determination that the Indemnitee should be indemnified under applicable law,
any such judicial proceeding shall be conducted in all respects as a de novo trial, on the merits, any determination that
the Indemnitee is not entitled to be indemnified under applicable law shall not be binding on, and shall not prejudice, the Indemnitee,
the Indemnitee shall continue to be entitled to receive Expense Advance, and the Indemnitee shall not be required to reimburse
the Company for any Expense Advance, unless and until a final judicial determination is made (as to which all rights of appeal
therefrom have been exhausted or lapsed) that the Indemnitee is not entitled to be so


 




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indemnified under applicable
law. The Company shall also be solely responsible for paying all costs incurred by it in defending any Claim made pursuant to this
Section 2(f) challenging its determination or seeking its payment. If a determination shall have been made pursuant to Section
2(e) that the Indemnitee is entitled to indemnification, the Company shall be bound by such determination in any judicial proceeding
commenced pursuant to this Section 2(f). In connection with any determination concerning Indemnitee’s right to Indemnification,
the Person or Persons making such determination shall presume that the Indemnitee is entitled to indemnification under this Agreement
if the Indemnitee has submitted a request for indemnification in accordance with Section 2(d) above, and anyone seeking to overcome
this presumption shall have the burden of proof and burden of persuasion, by clear and convincing evidence.


 


(g)          To
the extent that the Indemnitee has been successful on the merits or otherwise, either in defense of any Claim relating in whole
or in part to an Indemnifiable Event or in defense of any claim, issue or matter therein, including dismissal without prejudice,
or in prosecution of any Claim pursuant to Section 2(f), the Indemnitee shall be indemnified by the Company against all Indemnifiable
Expenses and Indemnifiable Liabilities actually and reasonably incurred in connection therewith, notwithstanding an earlier determination
by the Company (including by its directors, stockholders or any Independent Counsel) that the Indemnitee is not entitled to indemnification
under applicable law. For purposes of this Agreement, the term “successful on the merits or otherwise” shall include,
but not be limited to, (i) any termination, withdrawal, or dismissal (with or without prejudice) of any Proceeding against the
Indemnitee without any express finding of liability or guilt against the Indemnitee, (ii) the expiration of one-hundred twenty
(120) days after the making of any claim or threat of a Proceeding without the institution of the same and without any promise
or payment made to induce a settlement, and (iii) the settlement of any Proceeding pursuant to which the Indemnitee pays less than
$100,000.


 


(h)          As
soon as reasonably practicable after receipt by the Indemnitee of written notice that he or she is a party to or a participant
(as a witness or otherwise) in any Claim or of any other matter in respect of which the Indemnitee intends to seek indemnification
or Expense Advancement hereunder, the Indemnitee shall provide to the Company written notice thereof, including the nature of and
the facts underlying such Claim or matter. The omission by the Indemnitee to so notify the Company will not relieve the Company
from any liability which it may have to the Indemnitee hereunder or otherwise.


 


3.          Indemnification
for Additional Expenses. The Company shall indemnify, or cause the indemnification of, the Indemnitee against any and all Indemnifiable
Expenses and, if requested by the Indemnitee, shall advance such Indemnifiable Expenses to the Indemnitee subject to and in accordance
with Sections 2(b) and (e), which are actually and reasonably incurred by the Indemnitee in connection with any Claim brought by
the Indemnitee for (i) indemnification or an Expense Advance by the Company under this Agreement and/or (ii) recovery under any
directors’ and officers’ liability insurance policies maintained by the Company, regardless of whether the Indemnitee
ultimately is determined to be entitled to such indemnification, Expense Advance or insurance recovery, as the case may be.


 




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4.          Partial
Indemnity. If the Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some or
a portion of the Indemnifiable Expenses in respect of a Claim but not, however, for all of the total amount thereof, the Company
shall nevertheless indemnify the Indemnitee for the portion thereof to which the Indemnitee is entitled.


 


5.          Burden
of Proof. In connection with any determination, pursuant to Section 2(e), as to whether the Indemnitee is entitled to
be indemnified hereunder, the Person or Persons making such determination shall presume that the Indemnitee has satisfied the applicable
standard of conduct and is entitled to indemnification, and except where any required undertaking under Section 2(b) has not
been delivered to the Company, the burden of proof shall be on the Company or its representative to overcome such presumption and
establish, by clear and convincing evidence, that the Indemnitee is not so entitled.


 


6.          Reliance
as Safe Harbor. The Indemnitee shall be deemed to have met the applicable standard of conduct and to be entitled to indemnification
under Delaware law for any action or omission to act undertaken (i) in good faith reliance upon the records of the Company, including
its financial statements, or upon information, opinions, reports or statements furnished to the Indemnitee by the officers or employees
of the Company or any of its subsidiaries in the course of their duties, or by committees of the Board of Directors, or by any
other Person as to matters the Indemnitee reasonably believes are within such other Person’s professional or expert competence,
or (ii) on behalf of the Company in furtherance of the interests of the Company in good faith in reliance upon, and in accordance
with, the advice of legal counsel or accountants, provided such legal counsel or accountants were selected with reasonable care
by or on behalf of the Company. In addition, the knowledge and/or actions, or failures to act, of any director, officer, agent
or employee of the Company or an Other Enterprise shall not be imputed to the Indemnitee for purposes of determining the right
to indemnity hereunder.


 


7.          No
Other Presumptions. For purposes of this Agreement, the termination of any Claim, by judgment, order, settlement (whether with
or without court approval) or conviction, or upon a plea of nolo contendere or its equivalent, shall not create a presumption that
the Indemnitee did not meet any particular standard of conduct or have any particular belief or that a court has determined that
indemnification is not permitted by applicable law. In addition, neither the failure of the Company (including by its directors,
stockholders or any Independent Counsel) to have made a determination as to whether the Indemnitee has met any particular standard
of conduct or had any particular belief, nor an actual determination by the Company (including by its directors, stockholders or
any Independent Counsel) that the Indemnitee has not met such standard of conduct or did not have such belief, prior to the commencement
of legal proceedings by the Indemnitee to secure a judicial determination that the Indemnitee should be indemnified under applicable
law, shall be a defense to the Indemnitee’s Claim or create a presumption that the Indemnitee has not met any particular
standard of conduct or did not have any particular belief.


 




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8.            Nonexclusivity;
Change in Law. The rights of the Indemnitee hereunder shall be in addition to any other rights the Indemnitee may have under
the Bylaws, the laws of the State of Delaware, or otherwise. To the extent that a change in Delaware law or the interpretation
thereof (whether by statute or judicial decision) permits greater indemnification by agreement than would be afforded currently
under the Bylaws, it is the intent of the parties hereto that the Indemnitee shall enjoy by this Agreement the greater benefits
so afforded by such change.


 


9.            Maintenance
of D&O Insurance.


 


(a)          The
Company represents that it presently has in force and effect directors’ and officers’ liability insurance covering
the directors and officers of the Company (“D&O Insurance”) under the policies with the insurance carriers,
and in the amounts set forth on Annex A (the “Insurance Policies”).


 


(b)          The
Company shall, from time to time, make the good faith determination whether or not it is practicable for the Company to obtain
and maintain a policy or policies of insurance with reputable insurance companies providing the officers and directors of the Company
with coverage for Expenses from wrongful acts, or to ensure the Company’s performance of its indemnification obligations
under this Agreement. Among other considerations, the Company will weigh the costs of obtaining such insurance coverage against
the protection afforded by such coverage.


 


(c)          In
all policies of D&O Insurance, the Indemnitee shall be named as an insured in such a manner as to provide the Indemnitee the
same rights and benefits as are accorded to the most favorably insured of the Company’s directors, if the Indemnitee is a
director; or as are accorded to the most favorably insured of the Company’s officers, if the Indemnitee is not a director
of the Company but is an officer; or as are accorded to the most favorably insured of the Company’s key employees, if the
Indemnitee is not an officer or director but is a key employee.


 


(d)          Notwithstanding
the foregoing, except as provided below in Section 9(f) in the event of a Change in Control, the Company shall have no obligation
to obtain or maintain D&O Insurance coverage at least comparable to that provided by the Insurance Policies. All decisions
as to whether and to what extent the Company maintains D&O Insurance shall be made by the Board in its sole and absolute discretion.


 


(e)          Promptly
after (i) learning of facts and circumstances which may give rise to a Proceeding, the Company shall notify its D&O Insurance
carriers, if such notice is required by the applicable insurance policies, and any other insurance carrier providing applicable
insurance coverage to the Company, of such facts and circumstances, or (ii) receiving notice of a Proceeding, whether from
the Indemnitee, or otherwise, the Company shall give prompt notice to its D&O Insurance carriers, and any other insurance carriers
providing applicable insurance coverage to the Company, in the case of (i) and (ii), in accordance with the requirements of the
respective insurance policies. The Company shall, thereafter, take all necessary or appropriate action to cause such insurance
carriers to pay, on behalf of the Indemnitee, all Expenses incurred or to be incurred, and liability


 




    	 	11	 



     

    

 


incurred, by the Indemnitee
with respect to such Proceeding, in accordance with the terms of the applicable insurance policies.


 


(f)          At
or prior to any Change in Control, the Company shall obtain a prepaid, fully-earned and non-cancellable “tail” directors’
and officers’ liability insurance policy in respect of acts or omissions occurring at or prior to the Change in Control with
a claims period of six (6) years from the Change in Control, covering the Indemnitee, to the extent that the Indemnitee is covered
by D&O Insurance immediately prior to the Change in Control, with the coverage and amounts and containing terms and conditions
that are not less advantageous to the directors and officers of the Company and its subsidiaries than those of the D&O Insurance
in effect immediately prior to such Change in Control; provided, however, that the aggregate premium therefor is not in
excess of 200% of the annual premium then paid by the Company for coverage for its then current policy year for such insurance,
and if the premium therefor would be in excess of such amount, the Company shall purchase such “tail” policy with the
greatest coverage available as to matters occurring prior to the Change in Control as is available for a cost not exceeding that
premium amount. Any such tail policy may not be amended, modified, cancelled or revoked after the Change in Control by the Company
or any successor thereto in any manner that is adverse to the Indemnitee. 


 


10.          Period
of Limitations. No legal action shall be brought and no cause of action shall be asserted by or in the right of the Company
(or any of its subsidiaries) against the Indemnitee, the Indemnitee’s spouse, heirs, executors or personal or legal representatives,
administrators or estate after the expiration of two years from the date of accrual of such cause of action, and any claim or cause
of action of the Company shall be extinguished and deemed released unless asserted by the timely filing of a legal action within
such two-year period; provided, however, that if any shorter period of limitations is otherwise applicable to any
such cause of action such shorter period shall govern.


 


11.          Amendments,
Waiver; More Favorable Indemnification Agreements. Except as provided in Section 8 with respect to changes in Delaware law
that broaden the right of Indemnitee to be indemnified by the Company and the last sentence of this Section 11 which provides for
the Indemnitee to be afforded the benefit of a more favorable term or terms included in other indemnification agreements, no supplement,
modification or amendment of this Agreement shall be binding unless executed in writing by both of the parties hereto. No waiver
of any of the provisions of this Agreement shall be binding unless in the form of a writing signed by the party against whom enforcement
of the waiver is sought, or shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar),
nor shall such waiver constitute a continuing waiver. In the event the Company or any of its subsidiaries enters into an indemnification
agreement with another director, officer, agent, fiduciary or manager of the Company or any of its subsidiaries containing a term
or terms more favorable to the indemnitee than the terms contained herein (as determined by the Indemnitee), the Indemnitee shall
be afforded the benefit of such more favorable term or terms and such more favorable term or terms shall be deemed incorporated
by reference herein as if set forth in full herein.


 




    	 	12	 



     

    

 


12.         Subrogation.
In the event of any payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights
of contribution or recovery of the Indemnitee against other persons, and the Indemnitee shall execute all papers reasonably required
and shall do everything that may be reasonably necessary to secure such rights, including the execution of such documents necessary
to enable the Company effectively to bring suit to enforce such rights.


 


13.         No
Duplication of Payments. The Company shall not be liable under this Agreement to make any payment in connection with any Claim
to the extent the Indemnitee has otherwise actually received payment (under any statute, insurance policy, any provision of the
Bylaws, vote, or otherwise) of the amounts otherwise indemnifiable hereunder. The Company’s obligation of indemnification
or Expense Advance hereunder to the Indemnitee who is or was serving at the request of the Company as a director, officer, trustee,
partner, managing member, fiduciary, board of directors’ committee member, employee or agent of any other Person shall be
reduced by any amount the Indemnitee has actually received as indemnification or advancement of Expenses from such Person.


 


14.         Defense
of Claims. The Company shall be entitled, at its option and expense, either to participate in the defense of any Claim relating
to an Indemnifiable Event or, upon written notice to the Indemnitee, to assume the defense thereof with counsel reasonably satisfactory
to the Indemnitee and after delivery of such notice, the Company shall not be liable to the Indemnitee under this Agreement for
any fees or expenses of counsel subsequently incurred by the Indemnitee with respect to such Claim; provided that (i) the
Indemnitee shall have the right to retain separate counsel in respect of such Claim at the Indemnitee’s expense or, if previously
authorized in writing by the Company, at the Company’s expense, and (ii) if the Indemnitee believes, after consultation with
counsel selected by the Indemnitee, that (A) the use of counsel chosen by the Company to represent the Indemnitee would present
such counsel with an actual or potential conflict of interest, (B) the named parties in any such Claim (including any impleaded
parties) include the Company or any subsidiary of the Company and the Indemnitee, and the Indemnitee concludes that there may be
one or more legal defenses available to him or her that are different from or in addition to those available to the Company or
any subsidiary of the Company, or (C) any such representation by such counsel would be precluded under the applicable standards
of professional conduct then prevailing, then the Indemnitee shall be entitled to retain separate counsel (but not more than one
law firm plus, if applicable, local counsel in respect of any particular Claim) at the Company’s expense. The Company shall
not be liable to the Indemnitee under this Agreement for any amounts paid in settlement of any Claim relating to an Indemnifiable
Event effected without the Company’s prior written consent. The Company shall not, without the prior written consent of the
Indemnitee, effect any settlement of any Claim relating to an Indemnifiable Event which the Indemnitee is or could have been a
party unless such settlement solely involves the payment of money and includes a complete and unconditional release of the Indemnitee
from all liability on all claims that are the subject matter of such Claim. Neither the Company nor the Indemnitee shall unreasonably
withhold its or his or her consent to any proposed settlement; provided that the Indemnitee may withhold consent to any
settlement that does not provide a complete and unconditional release of the Indemnitee.


 




    	 	13	 



     

    

 


15.         Contribution.
To the fullest extent permissible under applicable law, if the indemnification provided for in this Agreement is unavailable to
the Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying the Indemnitee, shall contribute to the amount incurred
by the Indemnitee, whether for Indemnifiable Liabilities and/or for Indemnifiable Expenses, in connection with any Claim relating
to an Indemnifiable Event under this Agreement, in such proportion as is deemed fair and reasonable in light of all of the circumstances
of such Claim in order to reflect (i) the relative benefits received by the Company and the Indemnitee as a result of such
Indemnifiable Event and/or (ii) the relative fault of the Company and the Indemnitee in connection with such Indemnifiable
Event.


 


16.         Services
of Indemnitee; Binding Effect, Etc. The Indemnitee hereby agrees to serve or continue to serve as a director of the Company,
for so long as the Indemnitee is duly elected or appointed or until the Indemnitee tenders his or her resignation or is removed.
This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and their respective
successors (including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially
all of the business and/or assets of the Company), assigns, spouses, heirs, executors and personal and legal representatives. The
Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation, or otherwise) to
all or a significant portion of the business and/or assets of the Company and/or its subsidiaries, by written agreement in form
and substance satisfactory to the Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to
the same extent that the Company would be required to perform if no such succession had taken place. This Agreement shall continue
in effect regardless of whether the Indemnitee continues to serve as an officer and/or director of the Company or any other Person
at the request of the Company. Except as otherwise provided in this Section 16, neither this Agreement nor any duties or responsibilities
pursuant hereto may be assigned by the Company to any other Person without the express prior written consent of the Indemnitee.


 


17.         Entire
Agreement, Severability. This Agreement and the documents referred to herein constitute the entire agreement between the parties
hereto with respect to the matters covered hereby, and any other prior or contemporaneous oral or written understandings or agreements
with respect to the matters covered hereby are superseded by this Agreement, provided that this Agreement is a supplement
to and in furtherance of the Bylaws and applicable law, and shall not be deemed a substitute therefor, nor to diminish or abrogate
any rights of the Indemnitee thereunder. If any provision or provisions of this Agreement shall be held to be invalid, illegal
or unenforceable for any reason whatsoever, (i) the validity, legality and enforceability of the remaining provisions of this Agreement
(including all portions of any paragraph of this Agreement containing any such provision held to be invalid, illegal or unenforceable,
that are not themselves invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and shall remain
enforceable to the fullest extent permitted by law, and (ii) to the fullest extent possible, the provisions of this Agreement (including
all portions of any paragraph of this Agreement containing any such provision held to be invalid, illegal or unenforceable) shall
be construed or deemed reformed so as to give the maximum effect to the intent of the parties hereto manifested by the provision
held invalid, illegal or unenforceable and to give the maximum effect to the terms of this Agreement.


 




    	 	14	 



     

    

 


18.          Specific
Performance, Etc. The parties recognize that if any provision of this Agreement is violated by the Company, the Indemnitee
may be without an adequate remedy at law. Accordingly, in the event of any such violation, the Indemnitee shall be entitled, if
the Indemnitee so elects, to institute proceedings, either in law or at equity, to obtain damages, to enforce specific performance,
to enjoin such violation, or to obtain any relief or any combination of the foregoing as the Indemnitee may elect to pursue.


 


19.          Notices.
All notices, requests, consents and other communications hereunder to any party shall be in writing and either delivered in person
or sent by U.S. mail, overnight courier or by e-mail or other electronic transmission, addressed to such party at the address set
forth below or such other address as may hereafter be designated on the signature pages of this Agreement or in writing by such
party to the other parties, and shall be effective only upon receipt by such party:


 


(a)          If
to the Company, to:


 


ABM Industries Incorporated

551 Fifth Avenue, Suite 300

New York, NY 10176

Attn: General Counsel


E-mail: [●]


 


(b)          If
to the Indemnitee, to the address set forth on Annex B hereto.


 


20.          Counterparts.
This Agreement may be executed in counterparts (including by PDF or facsimile), each of which shall for all purposes be deemed
to be an original but all of which together shall constitute one and the same agreement. Only one such counterpart signed by the
party against whom enforceability is sought needs to be produced to evidence the existence of this Agreement.


 


21.          Headings.
The headings of the sections and paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute
part of this Agreement or to affect the construction or interpretation thereof.


 


22.          Conflict
With Governing Documents. To the fullest extent permitted by applicable law, in the event of a conflict between the
terms of this Agreement and the terms of the Company’s Certificate of Incorporation or Bylaws, the terms of this Agreement
shall prevail.


 


23.          Cooperation
and Intent. The Company shall cooperate in good faith with the Indemnitee and use its best efforts to ensure that, to
the fullest extent permitted by applicable law, the Indemnitee is indemnified and/or reimbursed for Indemnifiable Expenses and
Indemnifiable Liabilities described herein and receives the Expense Advance.


 


24.          Noninterference.
The Company shall not seek or agree to any order of any court or other governmental authority that would prohibit or otherwise
interfere, and shall not take or fail to take any other action if such action or failure would reasonably be expected to have the
effect of prohibiting or otherwise interfering, with the performance of


 




    	 	15	 



     

    

 


the Company’s indemnification,
advancement of Expenses or other obligations under this Agreement.


 


25.         Governing
Law; Consent to Jurisdiction. This Agreement shall be governed by and construed and enforced in accordance with the laws of
the State of Delaware applicable to contracts made and to be performed in such state without giving effect to the principles of
conflicts of choice of laws of such state or any other jurisdiction. The Company and the Indemnitee hereby irrevocably and unconditionally
(i) agree that any action or proceeding arising out of or in connection with this Agreement shall be brought only in the Chancery
Court of the State of Delaware (the “Delaware Court”), and not in any other state or federal court in the United
States of America or any court in any other country, (ii) consent to submit to the exclusive jurisdiction of the Delaware Court
for purposes of any action or proceeding arising out of or in connection with this Agreement, (iii) waive any objection to the
laying of venue of any such action or proceeding in the Delaware Court, and (iv) waive, and agree not to plead or to make, any
claim that any such action or proceeding brought in the Delaware Court has been brought in an improper or inconvenient forum.


 


IN WITNESS WHEREOF, the
parties hereto have executed this Agreement as of the date first above written.


 


	 	ABM INDUSTRIES INCORPORATED
	 	 	 
	 	By:  	 
	 	Name:  
	 	Title:  
	 	 
	 	 
	 	[Indemnitee Name]


 




    	 	16	 



     

    

 


Annex A


 


INSURANCE POLICIES




    	 	17	 



     

    

 


Annex B


 


Name and Address






[●]


[●]


 




    	 	18