EX-10.14



 Exhibit 10.14 

Dated this [date] 
 B E T W E E N
: 
 MULTI PACKAGING SOLUTIONS INTERNATIONAL LIMITED 

and 
 [PARTY] 

 
  

INDEMNIFICATION AGREEMENT 
  

 
  







 TABLE OF CONTENTS 

 

							
	 1
	 	INTERPRETATION	  	 	3	  
			
	 2
	 	AGREEMENT TO SERVE	  	 	5	  
			
	 3
	 	INDEMNITY OF DIRECTOR/OFFICER	  	 	5	  
			
	 4
	 	INDEMNIFICATION FOR EXPENSE OF A WITNESS	  	 	6	  
			
	 5
	 	DETERMINATION OF ENTITLEMENT TO INDEMNIFICATION	  	 	6	  
			
	 6
	 	ADVANCEMENT OF EXPENSES	  	 	7	  
			
	 7
	 	 REMEDIES OF INDEMNITEE IN CASES OF DETERMINATION NOT TO INDEMNIFY OR TO ADVANCE EXPENSES
	  	 	8	  
			
	 8
	 	OTHER RIGHTS TO INDEMNIFICATION	  	 	8	  
			
	 9
	 	ATTORNEYS’ FEES AND OTHER EXPENSES TO ENFORCE AGREEMENT	  	 	9	  
			
	 10
	 	LIMITATION OF INDEMNIFICATION	  	 	9	  
			
	 11
	 	LIABILITY INSURANCE	  	 	9	  
			
	 12
	 	DURATION OF AGREEMENT	  	 	9	  
			
	 13
	 	NOTICE OF PROCEEDINGS BY INDEMNITEE	  	 	10	  
			
	 14
	 	MISCELLANEOUS	  	 	10	  
			
	 15
	 	NOTICES	  	 	11	  
			
	 16
	 	HEADINGS	  	 	13	  
			
	 17
	 	COUNTERPARTS	  	 	13	  
			
	 18
	 	GOVERNING LAW	  	 	13	  


  
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 INDEMNIFICATION AGREEMENT 

THIS AGREEMENT is made the [DATE] 
 BETWEEN: 

Multi Packaging Solutions International Limited, a company incorporated under the laws of Bermuda with its registered office located at Clarendon House, 2
Church Street, Hamilton 11, Bermuda (the “Company”); and 
 [NAME] of [ADDRESS] (the “Indemnitee”) 

WHEREAS the Indemnitee is a director of the Company, 
 WHEREAS
highly skilled and competent persons are becoming more reluctant to serve public companies as directors or officers unless they are provided with adequate protection through insurance and indemnification against inordinate risks of claims and
actions against them arising out of their service to and activities on behalf of such companies, 
 WHEREAS uncertainties relating to indemnification
increase the difficulty of attracting and retaining such persons, 
 WHEREAS the Board has determined that an inability to attract and retain such persons
is detrimental to the best interests of the Company and that the Company should act to assure such persons that there will be increased certainty of such protection in the future, 

WHEREAS, it is reasonable, prudent and necessary for the Company contractually to obligate itself to indemnify the Indemnitee to the fullest extent permitted
by Bermuda law so that the Indemnitee will serve or continue to serve the Company free from undue concern that the Indemnitee will not be so indemnified, 

WHEREAS, the Indemnitee is willing to serve, continue to serve and to take on additional service for or on behalf of the Company on the condition that the
Indemnitee be so indemnified, 

  
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 IT IS HEREBY AGREED as follows: 
  

	1	INTERPRETATION 

  

	1.1	In this Agreement unless the context otherwise requires, the following words and expressions shall have the following meanings: 


 

			
	this “Agreement”	  	means this Indemnification Agreement;
		
	the “Board”	  	means the board of directors of the Company;
		
	“Business Day”	  	means a day (other than a Saturday or Sunday) on which banks in New York, New York, USA and the City of London, UK are open for ordinary banking business;
		
	the “Companies Act”	  	means the Companies Act 1981;
		
	“Corporate Status”	  	means the status of a person who is or was a director, officer, employee, agent, or fiduciary of the Company or any other Group Company, or is or was serving at the request of the Company as a director, officer, employee, agent
or fiduciary of any other company, corporation, partnership, limited liability company, joint venture, trust, employee benefit plan or other entity or enterprise;
		
	“the Court”	  	means the Supreme Court of Bermuda;
		
	“Disinterested Director”	  	means a director of the Company who is not or was not a party to a Proceeding in respect of which indemnification is sought by the Indemnitee;



  
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	“Group Companies”	  	means the Company and each subsidiary of the Company (wherever incorporated or organized);
		
	“Independent Counsel”	  	means a law firm or a member of a law firm that neither is presently nor in the past five years has been retained to represent: (i) the Company or the Indemnitee in any matter material to either such party, or (ii) any other
party to the Proceeding giving rise to a claim for indemnification hereunder. 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 right to indemnification under this Agreement;
		
	the “Parties”	  	means the parties to this Agreement collectively, and “Party” means any one of them; and
		
	“Proceeding”	  	means any action, suit, arbitration, alternate dispute resolution mechanism, investigation, administrative hearing or any other proceeding whether civil, criminal, administrative or investigative and whether formal or
informal;


  

	1.2	In this Agreement unless the context otherwise requires: 

  

	 	(a)	references to statutory provisions shall be construed as references to those provisions as amended or re-enacted or as their application is modified by other provisions from time to time and shall include references to
any provisions of which they are re-enactments (whether with or without modification); 

  

	 	(b)	references to clauses and schedules are references to clauses hereof and schedules hereto; references to sub-clauses or paragraphs are, unless otherwise stated, references to sub-clauses of the clause or paragraphs of
the schedule in which the reference appears; 


  
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	 	(c)	references to the singular shall include the plural and vice versa and references to the masculine shall include the feminine and/or neuter and vice versa; and 


 

	 	(d)	references to persons shall include companies, partnerships, associations and bodies of persons, whether incorporated or unincorporated. 


 

	2	AGREEMENT TO SERVE 

 The Indemnitee agrees to continue to serve as a director/officer of
the Company. This Agreement does not create or otherwise establish any right on the part of the Indemnitee to be and continue to be elected or appointed a director/officer of the Company or any other Group Company and does not create an employment
contract between the Company and the Indemnitee. 
  

	3	INDEMNITY OF DIRECTOR/OFFICER 

  

	3.1	Subject to clause 10, the Company shall indemnify the Indemnitee if the Indemnitee is a party or is threatened to be made a party to any threatened, pending or completed Proceeding, including a Proceeding brought
by or in the right of the Company, by reason of the fact that the Indemnitee is or was a director, officer, employee, agent, or fiduciary of the Company or is or was serving at the request of the Company as a director, officer, employee, agent, or
fiduciary of any other company, corporation, partnership, limited liability company, joint venture, trust, employee benefit plan or other entity or enterprise or by reason of anything done or not done by the Indemnitee in any such capacity. Subject
to clause 10, pursuant to this sub-clause 3.1 the Indemnitee shall be indemnified against expenses (including attorneys’ fees and disbursements), judgments, penalties, fines and amounts paid in settlement actually and reasonably incurred by the
Indemnitee in connection with such Proceeding (including, but not limited to, the investigation, defense, settlement or appeal thereof). 

  

	3.2	Notwithstanding any other provision of this Agreement other than clause 10, the Indemnitee shall be indemnified against all expenses (including attorneys’ fees and disbursements) actually and reasonably
incurred by the Indemnitee or on the Indemnitee’s behalf in defending any Proceedings referred to in clause 3.1 in which judgement is given in his favour, in which he is acquitted, or in respect of which relief is granted to him by the Court
under section 281 of the Companies Act. 


  
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	3.3	Subject to clause 10, the Company shall indemnify the Indemnitee for such portion of the expenses (including attorneys’ fees), witness fees, damages, judgments, fines and amounts paid in settlement and any
other amounts that the Indemnitee becomes legally obligated to pay in connection with any Proceeding referred to in clause 3.1 in respect of which the Indemnitee is entitled to indemnification hereunder, even if the Indemnitee is not entitled to
indemnification hereunder for the total amount thereof. 

  

	3.4	Without limiting the scope of the indemnity provided under any other provision of this Agreement, if the Indemnitee has reason to apprehend that any claim will or might be made against him in respect of any
negligence, default, breach of duty or breach of trust, he may apply to the Court for relief pursuant to section 281 of the Companies Act and, to the extent that the Court relieves him, either wholly or partly, from his liability in accordance with
section 281 of the Companies Act, the Indemnitee shall be indemnified against any liability incurred by him in defending any Proceedings in accordance with paragraph 98(2)(b) of the Companies Act. 


 

	4	INDEMNIFICATION FOR EXPENSE OF A WITNESS 

 Subject to clause 10, to the extent that the
Indemnitee is, by reason of the Indemnitee’s Corporate Status, a witness in any proceeding, the Indemnitee shall be indemnified by the Company against all expenses actually and reasonably incurred by the Indemnitee or on the Indemnitee’s
behalf in connection therewith. 
  

	5	DETERMINATION OF ENTITLEMENT TO INDEMNIFICATION 

  

	5.1	The Indemnitee shall request indemnification pursuant to this Agreement by notice in writing to the secretary of the Company. The secretary shall, promptly upon receipt of the Indemnitee’s request for
indemnification, advise in writing the Board or such other person or persons empowered to make the determination as provided in sub-clause 5.2 that the Indemnitee has made such request for indemnification. Subject to clause 10, upon making such
request for indemnification, the Indemnitee shall be presumed to be entitled to indemnification hereunder and the Company shall have the burden of proof in the making of any determination contrary to such presumption. 


 

	5.2	Upon written request by the Indemnitee for indemnification pursuant to sub-clause 3.1, the entitlement of the Indemnitee to indemnification pursuant to the terms of this Agreement shall be determined by the
following person or persons who shall be empowered to make such determination: 

  

	 	(a)	the Board, by a majority vote of the Disinterested Directors; or 


  
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	 	(b)	if such vote is not obtainable or, even if obtainable, if such Disinterested Directors so direct by majority vote, by Independent Counsel in a written opinion to the Board, a copy of which shall be delivered to the
Indemnitee; or 

  

	 	(c)	by a majority vote of the shareholders. 

  

	5.3	For purposes of sub-clause 5.2, Independent Counsel shall be selected by the Board and approved by the Indemnitee. Upon failure of the Board to so select such Independent Counsel or upon failure of the Indemnitee
to so approve, such Independent Counsel shall be selected by a single arbitrator pursuant to the rules of the American Arbitration Association. Such determination of entitlement to indemnification shall be made not later than 60 days after receipt
by the Company of a written request for indemnification. Such request shall include documentation or information which is necessary for such determination and which is reasonably available to the Indemnitee. Subject to clause 10, any expenses
(including attorneys’ fees) incurred by the Indemnitee in connection with the Indemnitee’s request for indemnification hereunder shall be borne by the Company irrespective of the outcome of the determination of the Indemnitee’s
entitlement to indemnification. If the person or persons making such determination shall determine that the Indemnitee is entitled to indemnification as to part (but not all) of the application for indemnification, such persons may reasonably
prorate such partial indemnification among such claims, issues or matters in respect of which indemnification is requested. 

  

	6	ADVANCEMENT OF EXPENSES 

 All reasonable expenses incurred by the Indemnitee (including
attorneys’ fees, retainers and advances of disbursements required of the Indemnitee) shall be paid by the Company in advance of the final disposition of any Proceeding at the request of the Indemnitee as promptly as possible, and in any event
within twenty days after the receipt by the Company of a statement or statements from the Indemnitee requesting such advance or advances from time to time. The Indemnitee’s entitlement to such expenses shall include those incurred in connection
with any Proceeding by the Indemnitee seeking an adjudication or award in arbitration pursuant to this Agreement. Such statement or statements shall reasonably evidence the expenses incurred by the Indemnitee in connection therewith and shall
include or be accompanied by an undertaking by or on behalf of the Indemnitee to repay such amount if it is ultimately determined that the Indemnitee is not entitled to be otherwise. Subject to clause 10, the Company shall have the burden of proof
in any determination under this clause 6. No amounts advances hereunder shall be deemed an extension of credit by the Company to the Indemnitee. 

  
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	7	REMEDIES OF INDEMNITEE IN CASES OF DETERMINATION NOT TO INDEMNIFY OR TO ADVANCE EXPENSES 

  

	7.1	In the event that: (a) a determination is made that the Indemnitee is not entitled to indemnification hereunder; (b) payment has not been timely made following a determination of entitlement to
indemnification pursuant to clause 5; or (c) expenses are not advanced pursuant to clause 6, the Indemnitee shall be entitled to apply to the Court or any other court of competent jurisdiction for a determination of the Indemnitee’s
entitlement to such indemnification or advance. 

  

	7.2	Alternatively to sub-clause 7.1, the Indemnitee, at the Indemnitee’s option, may seek an award in arbitration to be conducted by a single arbitrator pursuant to the rules of the American Arbitration
Association, such award to be made within sixty days following the filing of the demand for arbitration. The Company shall not oppose the Indemnitee’s right to seek any such adjudication or award in arbitration or any other claim.


  

	7.3	A judicial proceeding or arbitration pursuant to this clause 7 shall be made de novo and the Indemnitee shall not be prejudiced by reason of a determination otherwise made hereunder (if so made) that the
Indemnitee is not entitled to indemnification. Subject to clause 10 if a determination is made pursuant to the terms of clause 5 that the Indemnitee is entitled to indemnification, the Company shall be bound by such determination and is precluded
from asserting that such determination has not been made or that the procedure by which such determination was made is not valid, binding and enforceable. If the court or arbitrator shall determine that the Indemnitee is entitled to any
indemnification hereunder, the Company shall pay all reasonable expenses (including attorneys’ fees and disbursements) actually incurred by the Indemnitee in connection with such adjudication or award in arbitration (including, but not limited
to, any appellate proceedings). 

  

	8	OTHER RIGHTS TO INDEMNIFICATION 

 The indemnification and advancement of expenses
(including attorneys’ fees) provided by this Agreement shall not be deemed exclusive of any other right to which the Indemnitee may now or in the future be entitled under any provision of the Company’s bye-laws, any agreement, vote of
shareholders, the Board or Disinterested Directors, provision of law, or otherwise; provided, however, that: (a) this Agreement supersedes any other agreement that has been entered into by the Company with the Indemnitee which has as its
principal purpose the indemnification of the Indemnitee and (b) where the Company may indemnify the Indemnitee pursuant to either this Agreement or the bye-laws of the Company, the Company may indemnify the Indemnitee under either this


  
 8 








 
Agreement or the bye-laws but the Indemnitee shall, in no case, be indemnified by the Company in respect of any expense, liability or cost of any type for which payment is or has been actually
made to the Indemnitee under any insurance policy, indemnity clause, bye-law or agreement, except in respect of any excess beyond such payment. 
  

	9	ATTORNEYS’ FEES AND OTHER EXPENSES TO ENFORCE AGREEMENT 

 In the event that the
Indemnitee is subject to or intervenes in any Proceeding in which the validity or enforceability of this Agreement is at issue or seeks an adjudication or award in arbitration to enforce the Indemnitee’s rights under, or to recover damages for
breach of, this Agreement the Indemnitee, if the Indemnitee prevails in whole or in part in such action, shall be entitled to recover from the Company and shall be indemnified by the Company against, any actual expenses for attorneys’ fees and
disbursements reasonably incurred by the Indemnitee, provided that in bringing such action, the Indemnitee acted in good faith. 
  

	10	LIMITATION OF INDEMNIFICATION 

 Notwithstanding any other terms of this Agreement,
nothing herein shall indemnify the Indemnitee against, or exempt the Indemnitee from, any liability in respect of the Indemnitee’s fraud or dishonesty. 
  

	11	LIABILITY INSURANCE 

 To the extent the Company maintains an insurance policy or policies
directors’ and officers’ liability insurance, the Indemnitee shall be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the coverage available for any Company director or officer. 

 

	12	DURATION OF AGREEMENT 

 This Agreement shall apply with respect to the Indemnitee’s
occupation of any of the position(s) described in sub-clause 3.1 of this Agreement prior to the date of this Agreement and with respect to all periods of such service after the date of this Agreement, even though the Indemnitee may have ceased to
occupy such position(s). 

  
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	13	NOTICE OF PROCEEDINGS BY INDEMNITEE 

  

	13.1	The Indemnitee agrees promptly to notify the Company in writing upon being served with any summons, citation, subpoena, complaint, indictment, information or other document relating to any Proceeding which may be
subject to indemnification hereunder, provided, however, that the failure to so notify the Company will not relieve the Company from any liability it may have to the Indemnitee except to the extent that such failure materially prejudices the
Company’s ability to defend such claim. With respect to any such Proceeding as to which the Indemnitee notifies the Company of the commencement thereof: 

  

	 	(a)	the Company will be entitled to participate therein at its own expense; and 

  

	 	(b)	except as otherwise provided below, to the extent that it may wish, the Company jointly with any other indemnifying party similarly notified will be entitled to assume the defense thereof, with counsel reasonably
satisfactory to the Indemnitee. After notice from the Company to the Indemnitee of its election so to assume the defense thereof, the Company will not be liable to the Indemnitee under this Agreement for any legal or other expenses subsequently
incurred by the Indemnitee in connection with the defense thereof other than reasonable costs of investigation or as otherwise provided below. The Indemnitee shall have the right to employ the Indemnitee’s own counsel in such Proceeding, but
the fees and expenses of such counsel incurred after notice from the Company of its assumption of the defense thereof shall be at the expense of the Indemnitee and not subject to indemnification hereunder unless (a) the employment of counsel by
the Indemnitee has been authorized by the Company; (b) in the reasonable opinion of counsel to the Indemnitee there is or may be a conflict of interest between the Company and the Indemnitee in the conduct of the defense of such Proceeding; or
(c) the Company shall not in fact have employed counsel to assume the defense of such action, in each of which cases, subject to clause 10, the fees and expenses of counsel shall be at the expense of the Company. 


 

	13.2	Neither the Company nor the Indemnitee shall settle any claim without the prior written consent of the other (which shall not be unreasonably withheld). 


 

	14	MISCELLANEOUS 

  

	14.1	Notwithstanding the expiration or termination of this Agreement howsoever arising, such expiration or termination shall not operate to affect such of the provisions hereof as are expressed or intended to remain
in full force and effect. 


  
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	14.2	If any of the clauses, conditions, covenants or restrictions of this Agreement or any deed or document emanating from it shall be found to be void but would be valid if some part thereof were deleted or modified,
then such clause, condition, covenant or restriction shall apply with such deletion or modification as may be necessary to make it valid and effective so as to give effect as nearly as possible to the intent manifested by such clause, condition,
covenant or restriction. 

  

	14.3	This Agreement shall be binding upon the Company and its successors and assigns (including any transferee of all or substantially all of its assets and any successor or resulting company by merger, amalgamation
or operation of law) and shall inure to the benefit of the Indemnitee and the Indemnitee’s spouse, assigns, heirs, estate, devises, executors, administrators or other legal representatives. 


 

	14.4	This Agreement contains the whole agreement between the Parties in respect of the subject matter of this Agreement and supersedes and replaces any prior indemnification arrangement between the Company and the
Indemnitee, and any prior written or oral agreements, representations or understandings between them relating to such subject matter. The Parties confirm that they have not entered into this Agreement on the basis of any representation that is not
expressly incorporated in this Agreement. Without limiting the generality of the foregoing, neither party shall have any remedy in respect of any untrue statement made to him upon which he may have relied in entering into this Agreement, and a
Party’s only remedy is for breach of contract. However, nothing in this Agreement purports to exclude liability for any fraudulent statement or act. 

  

	14.5	No provision in this Agreement may be amended unless such amendment is agreed to in writing, signed by the Indemnitee and by a duly authorised officer of the Company. No waiver by either Party of any breach by
the other Party of any condition or provision of this Agreement to be performed by such other Party shall be deemed a waiver of a similar or dissimilar condition or provision at the same or any prior or subsequent time. Any waiver must be in writing
and signed by the Indemnitee or a duly authorised officer of the Company, as the case may be. 

  

	15	NOTICES 

  

	15.1	Any notice or other communication given under this Agreement or in connection with the matters contemplated herein shall, except where otherwise specifically provided, be in writing in the English language,
addressed as provided in Clause 15.2 and served: 

  

	 	(a)	by leaving it at the relevant address in which case it shall be deemed to have been given upon delivery to that address; 


  
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	 	(b)	by air courier, in which case it shall be deemed to have been given two Business Days after its delivery to a representative of the courier; 


 

	 	(c)	by pre-paid airmail, in which case it shall be deemed to have been given five Business Days after the date of posting; or 

  

	 	(d)	by e-mail, in which case it shall be deemed to have been given when despatched subject to confirmation of delivery by a delivery receipt, 


provided that in the case of sub-Clause (d) above any notice despatched other than between the hours of 9:30 a.m. to 5:30 p.m. on a
Business Day (“Working Hours”) shall be deemed given at the start of the next period of Working Hours. 
  

	15.2	Notices under this Agreement shall be sent for the attention of the person and to the address or e-mail address, subject to Clause 15.3, as follows: 


 

	 	(a)	for the Company: 

  

			
	Name:	  	Multi Packaging Solutions International Limited
	For the attention of:	  	The Directors
	Address:	  	Millennium Way West, Phoenix Centre, Nottingham, Nottinghamshire NG8 6AW
		
	with copies to:	  	
		
	Name:	  	Ropes & Gray LLP
	For the attention of:	  	Matthew J. Richards
	Address:	  	191 North Wacker Drive, 32nd Floor, Chicago, IL 60606
	E-mail address:	  	matthew.richards@ropesgray.com and:
		
	and to:	  	
		
	Name:	  	Latham & Watkins (London) LLP
	For the attention of:	  	David Walker
	Address:	  	99 Bishopsgate, London EC2M 3XF
	E-mail address:	  	david.walker@lw.com



  
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	 	(b)	For the Indemnitee: 

  

			
	Name:	  	[            ]
	Address:	  	[            ]
	E-mail address:	  	[            ]


  

	15.3	Any party to this Agreement may notify the other parties of any change to its address or other details specified in Clause 15.2, provided that such notification shall only be effective on the date specified in
such notice or five Business Days after the notice is given, whichever is later. 

  

	16	HEADINGS 

 The headings in this Agreement are inserted for convenience only and shall not
affect the construction of this Agreement. 
  

	17	COUNTERPARTS 

 This Agreement may be executed in any number of counterparts, each of
which when executed shall be deemed an original but all such counterparts shall constitute one and the same instrument. Delivery of a counterpart signature page by facsimile transmission or by e-mail transmission of an Adobe Portable Format file (or
similar electronic record) shall be effective as delivery of an executed counterpart signature page. 
  

	18	GOVERNING LAW 

 The terms and conditions of this Agreement and the rights of the parties
hereunder shall be governed by and construed in all respects in accordance with the laws of the Islands of Bermuda. The parties to this Agreement hereby irrevocably agree that the courts of Bermuda shall have non-exclusive jurisdiction in respect of
any dispute, suit, action, arbitration or proceedings (“Agreement Proceedings”) which may arise out of or in connection with this Agreement and waive any objection to Agreement Proceedings in the courts of Bermuda on the grounds of venue
or on the basis that the Agreement Proceedings have been brought in an inconvenient forum. 

  
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 AGREED by the Parties through their authorised signatories on the date first written above: 

 

			
	COMPANY
	
	MULTI PACKAGING SOLUTIONS INTERNATIONAL LIMITED
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	INDEMNITEE
		
	By:	 	  

	Name:	 	



  
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