Exhibit 10.14(b)


EXECUTION COPY


This INDEMNIFICATION AGREEMENT, dated as of July 24,
2007 (the “Agreement”), is among ServiceMaster Global Holdings, Inc., a
Delaware corporation (the “Company”), The ServiceMaster Company, a
Delaware corporation (together with the Company, the “Company Entities”),
Banc of America Capital Investors V, L.P. (the “Investor”), BAS Capital
Funding Corporation, BACSVM, L.P., Banc of America Strategic Investments
Corporation, Banc of America Capital Management V, L.P., BACM I GP, LLC and BA
Equity Co-Invest GP LLC.  Capitalized
terms used herein without definition have the meanings set forth in Section 1
of this Agreement.


RECITALS


A.            The Company is an acquisition vehicle formed by Clayton,
Dubilier & Rice, Inc. (“CD&R”) that has executed an Agreement
and Plan of Merger, dated March 18, 2007 (as the same may be amended from time
to time in accordance with its terms and the Stockholders Agreement, the “Merger
Agreement”), to acquire via merger, on the terms and subject to the conditions
set forth in the Merger Agreement, all of the capital stock of The
ServiceMaster Company, a Delaware corporation (such acquisition, the “Merger”).


B.            The Company and certain of its stockholders have entered
into a Stockholders Agreement (as the same may be amended from time to time in
accordance with the terms thereof, the “Stockholders Agreement”), dated
as of the date hereof, setting forth certain agreements with respect to, among
other things, the management of the Company and transfers of its shares in
various circumstances.


C.            In connection with the Merger, each Committing Investor
(as defined in the Stockholders Agreement) entered into a Commitment Letter (as
defined in the Stockholders Agreement), pursuant to which such Committing
Investor has agreed, subject to the conditions set forth therein, to purchase
stock of the Company for an aggregate purchase price equal to its Commitment
(as defined in the Commitment Letter).


D.            Concurrently with the execution and delivery of this
Agreement, the Company and certain other parties have entered into a
Transaction Fee Agreement with the Investor (or one of its Affiliates), dated
as of the date hereof (as the same may be amended from time to time in
accordance with its terms and the Stockholders Agreement, the “Transaction
Fee Agreement”).


E.             In order to finance the Merger and related transactions,
the Company is selling shares of its common stock, par value US$0.01 per share
(“Shares”), to the Committing Investors, including the Investor, and to
certain co-investors and such other stockholders of the Company as are listed
in the signature pages of the Stockholders 













Agreement or as otherwise become stockholders of the
Company prior to the Merger pursuant to the terms thereof (the “Equity
Offering”).


F.             In order to finance the Merger, the Company and/or one
or more of its wholly-owned Subsidiaries intend to enter into the Debt
Financing (as defined in the Merger Agreement).


G.            Investor (or its Affiliates)  has
performed the Initial Services (as defined in the Transaction Fee Agreement)
for the Company.


H.            The Company or one or more of its Subsidiaries from time
to time in the future may (i) offer and sell or cause to be offered and
sold equity or debt securities (such offerings, collectively, the “Subsequent
Offerings”), including without limitation (a) offerings of
shares of capital stock of the Company or any of its Subsidiaries, and/or
options to purchase such shares to employees, directors, managers, dealers,
franchisees and consultants of and to the Company or any of its Subsidiaries
(any such offering, a “Management Offering”), and (b) one or more
offerings of debt securities for the purpose of refinancing any indebtedness of
the Company or any of its Subsidiaries or for other corporate purposes, and (ii)
repurchase, redeem or otherwise acquire certain securities of the Company or
any of its Subsidiaries or engage in recapitalization or structural
reorganization transactions relating thereto (any such repurchase, redemption,
acquisition, recapitalization or reorganization, a “Redemption”), in
each case subject to the terms and conditions of the Stockholders Agreement and
any other applicable agreement.


I.              The parties hereto recognize the possibility that
claims might be made against and liabilities incurred by the Investor, the
Other Investors, Investor  Associates, or
related Persons or Affiliates under applicable securities laws or otherwise in
connection with the Transactions (including the Initial Services) or the
Securities Offerings, or relating to other actions or omissions of or by
members of the Company Group, and the parties hereto accordingly wish to
provide for the Investor, the Other Investors, Investor Associates and related
Persons and Affiliates to be indemnified in respect of any such claims and
liabilities.


J.             The parties hereto recognize that claims might be made
against and liabilities incurred by directors and officers of any member of the
Company Group in connection with their acting in such capacity, and accordingly
wish to provide for such directors and officers to be indemnified to the
fullest extent permitted by law in respect of any such claims and liabilities.


NOW, THEREFORE, in consideration of the foregoing
premises, and the mutual agreements and covenants and provisions herein set forth,
the parties hereto hereby agree as follows:



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1.             Definitions.


(a)           “Affiliate”
means, with respect to any Person, (i) any other Person directly or
indirectly Controlling, Controlled by or under common Control with, such
Person, (ii) any Person directly or indirectly owning or
Controlling 10% or more of any class of outstanding voting securities of such
Person or (iii) any officer, director, general partner, special limited
partner or trustee of any such Person described in clause (i) or (ii).  “Control” of any Person shall consist
of the power to direct the management and policies of such Person (whether
through the ownership of voting securities, by contract, as trustee or
executor, or otherwise).


(b)           “Change in
Control” means the first to occur of the following events after the closing
date of the Merger:


(i)  the acquisition by any Person or “group” (as
defined in Section 13(d) of the Securities Exchange Act of 1934, as amended) of
50% or more of the combined voting power of the Company’s then outstanding
voting securities, other than any such acquisition by any member of the Company
Group, any Committing Investors or their Affiliate Co-Investors (as defined in
the Stockholders Agreement), any employee benefit plan of the Company or any of
its Subsidiaries, or any Affiliates of any of the foregoing;


(ii)  the merger, consolidation or other similar
transaction involving the Company, as a result of which Persons who were
stockholders of the Company immediately prior to such merger, consolidation, or
other similar transaction do not, immediately thereafter, own, directly or
indirectly, more than 50% of the combined voting power entitled to vote
generally in the election of directors of the merged or consolidated company;


(iii)  within any 24-month period, the persons who
were directors of the Company at the beginning of such period (the “Incumbent
Directors”) shall cease to constitute at least a majority of the votes of
the total authorized membership of the board of directors of the Company, provided
that any director elected or nominated for election to the board of directors
of the Company by a majority vote of the Incumbent Directors then still in
office shall be deemed to be an Incumbent Director for purposes of this clause
(iii); or


(iv)  the sale, transfer or other disposition of
all or substantially all of the assets of the Company to one or more 



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Persons that are not,
immediately prior to such sale, transfer or other disposition, Affiliates of
the Company.


Notwithstanding the foregoing, a Public Offering shall
not constitute a Change in Control.


(c)           “Claim”
means, with respect to any Indemnitee, any claim by or against such Indemnitee
involving any Obligation with respect to which such Indemnitee may be entitled
to be indemnified by any member of the Company Group under this Agreement.


(d)           “Commission”
means the United States Securities and Exchange Commission or any successor
entity thereto.


(e)           “Company Group”
means the Company and any of its Subsidiaries.


(f)            “Determination”
means a determination that either (i) there is a reasonable basis for
the conclusion that indemnification of an Indemnitee is proper in the
circumstances because such Indemnitee met a particular standard of conduct (a “Favorable
Determination”) or (ii) solely in the case of an Indemnitee making a
Claim in such Indemnitee’s capacity as director or officer of the Company
Group, there is no reasonable basis for the conclusion that indemnification of
an Indemnitee is proper in the circumstances because such Indemnitee met a
particular standard of conduct (an “Adverse Determination”).  Except as required by law, no Adverse
Determination shall be made in the case of any Indemnitee that is not a
director or officer of the Company or in connection with any Indemnitee Claim
not made in its capacity as a director or officer of the Company Group.  An Adverse Determination shall include the
decision that a Determination was required in connection with indemnification
and the decision as to the applicable standard of conduct.


(g)           “Exchange Act”
means the Securities Exchange Act of 1934, as amended, and the rules and
regulations promulgated thereunder.


(h)           “Expenses”
means all attorneys’ fees and expenses, retainers, court, arbitration and
mediation costs, transcript costs, fees of experts, bonds, witness fees, costs
of collecting and producing documents, travel expenses, duplicating costs,
printing and binding costs, telephone charges, postage, delivery service fees
and all other disbursements or expenses of the types customarily incurred in
connection with prosecuting, defending, preparing to prosecute or defend,
investigating, being or preparing to be a witness in, appealing or otherwise
participating in a Proceeding.


(i)            “Indemnitee”
means each of the Investor, the Other Investors, Investor  Associates, their respective Affiliates,
their respective successors and assigns, and the respective directors,
officers, partners, members, employees, agents, advisors, consultants,
representatives and controlling persons (within the meaning of the Securities 



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Act) of each
of them, or of their partners, members and controlling persons, and each other
person who is or becomes a director or an officer of any member of the Company
Group, in each case irrespective of the capacity in which such person acts.


(j)            “Independent
Legal Counsel” means an attorney or firm of attorneys competent to render
an opinion under the applicable law, selected in accordance with the provisions
of Section 4(e), who has not otherwise performed any services for any
member of the Company Group or for any Indemnitee within the last three years
(other than with respect to matters concerning the rights of an Indemnitee
under this Agreement or other indemnitees under indemnity agreements similar to
this Agreement).


(k)           “Investor
Associates” means, collectively, Banc of America Capital Management V,
L.P., BACM I GP, LLC and BA Equity Co-Invest GP LLC.


(l)            “Obligations”
means, collectively, any and all claims, obligations, liabilities, causes of
actions, Proceedings, investigations, judgments, decrees, losses, damages
(including punitive and exemplary damages), fees, fines, penalties, amounts
paid in settlement, costs and Expenses (including without limitation interest,
assessments and other charges in connection therewith and disbursements of attorneys,
accountants, investment bankers and other professional advisors), in each case
whether incurred, arising or existing with respect to third parties or
otherwise at any time or from time to time.


(m)          “Other Investors”
means, collectively, BAS Capital Funding Corporation, BACSVM, L.P and Banc of
America Strategic Investments Corporation.


(n)           “Person”
means an individual, corporation, limited liability company, limited or general
partnership, trust or other entity, including a governmental or political subdivision
or an agency or instrumentality thereof.


(o)           “Proceeding”
means a threatened, pending or completed action, suit or proceeding, whether
civil, criminal, administrative or investigative, including without limitation
a claim, demand, discovery request, formal or informal investigation, inquiry,
administrative hearing, arbitration or other form of alternative dispute
resolution, including an appeal from any of the foregoing.


(p)           “Public Offering”
means the first day as of which (i) sales of Shares are made to the
public in the United States pursuant to an underwritten public offering led by
one or more underwriters at least one of which is an underwriter of nationally
recognized standing or (ii) the board of directors of the Company has
determined that Shares otherwise have become publicly-traded for this purpose.


(q)           “Related Document”
means any agreement, certificate, instrument or other document to which any
member of the Company Group may be a party or by which it or 



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any of its
properties or assets may be bound or affected from time to time relating in any
way to the Transactions or any Securities Offering or any of the transactions
contemplated thereby, including without limitation, in each case as the same
may be amended from time to time, (i) any registration statement
filed by or on behalf of any member of the Company Group with the Commission in
connection with the Transactions or any Securities Offering, including all
exhibits, financial statements and schedules appended thereto, and any submissions
to the Commission in connection therewith, (ii) any prospectus,
preliminary, free-writing or otherwise, included in such registration
statements or otherwise filed by or on behalf of any member of the Company
Group in connection with the Transactions or any Securities Offering or used to
offer or confirm sales of their respective securities in any Securities
Offering, (iii) any private placement or offering memorandum or
circular, information statement or other information or materials distributed by
or on behalf of any member of the Company Group or any placement agent or
underwriter in connection with the Transactions or any Securities Offering, (iv) any
federal, state or foreign securities law or other governmental or regulatory
filings or applications made in connection with any Securities Offering, the
Transactions or any of the transactions contemplated thereby, (v) any
dealer-manager, underwriting, subscription, purchase, stockholders, option or
registration rights agreement or plan entered into or adopted by any member of
the Company Group in connection with any Securities Offering, (vi) any
purchase, repurchase, redemption, recapitalization or reorganization or other
agreement entered into by any member of the Company Group in connection with
any Redemption, or (vii) any quarterly, annual or current reports
or other filing filed, furnished or supplementally provided by any member of
the Company Group with or to the Commission or any securities exchange,
including all exhibits, financial statements and schedules appended thereto,
and any submission to the Commission or any securities exchange in connection
therewith.


(r)            “Securities Act”
means the Securities Act of 1933, as amended, and the rules and regulations
promulgated thereunder.


(s)           “Securities
Offerings” means the Equity Offering, the Notes Offering, any Management
Offering, any Redemption and any Subsequent Offering.


(t)            “Subsidiary”
means each corporation or other Person in which a Person owns or Controls,
directly or indirectly, capital stock or other equity interests representing
more than 50% of the outstanding voting stock or other equity interests.


(u)           “Transactions”
means the Merger, the Equity Offering and the Debt Financing.



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2.             Indemnification.


(a)           Each of the Company
Entities (each an “Indemnifying Party” and collectively the “Indemnifying
Parties”), jointly and severally, agrees to indemnify, defend and hold
harmless each Indemnitee:


(i)           from and against any and all
Obligations, whether incurred with respect to third parties or otherwise, in
any way resulting from, arising out of or in connection with, based upon or
relating to (A) the Securities Act, the Exchange Act or any other
applicable securities or other laws, in connection with any Securities
Offering, the Debt Financing, any other Transactions, any Related Document or
any of the transactions contemplated thereby, (B) any other action
or failure to act of any member of the Company Group or any of their
predecessors, whether such action or failure has occurred or is yet to occur or
(C) the performance by the Investor (or its Affiliates) of the
Initial Services pursuant to the Transaction Fee Agreement; and


(ii)          to the fullest extent permitted by the
law specified herein as governing this agreement, by the law of the place of
incorporation of an Indemnifying Party, or by any other applicable law in
effect as of the date hereof or as amended to increase the scope of permitted
indemnification, whichever is greater (except, with respect to any Indemnifying
Party, to the extent that such indemnification may be prohibited by the law of
the place of incorporation of such Indemnifying Party), from and against any
and all Obligations whether incurred with respect to third parties or
otherwise, in any way resulting from, arising out of or in connection with,
based upon or relating to (A) the fact that such Indemnitee is or
was a director or an officer of any member of the Company Group or is or was
serving at the request of such corporation as a director, officer, member,
employee or agent of or advisor or consultant to another corporation,
partnership, joint venture, trust or other enterprise, (B) any
breach or alleged breach by such Indemnitee of his or her fiduciary duty as a
director or an officer of any member of the Company Group or (C) any
payment by any of the Investor, an Other Investor, an Investor Associate or any
of their respective Affiliates  in
connection with any of the foregoing in this Section 2(a)(ii);


in each case including but not limited to any and all
fees, costs and Expenses (including without limitation fees and disbursements
of attorneys and other professional advisers) incurred by or on behalf of any
Indemnitee in asserting, exercising or enforcing any of its rights, powers,
privileges or remedies in respect of this Agreement or the  Transaction
Fee Agreement.


(b)           Without
in any way limiting the foregoing Section 2(a), each of the Indemnifying
Parties agrees, jointly and severally, to indemnify, defend and hold 



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harmless each Indemnitee from and against any and all Obligations
resulting from, arising out of or in connection with, based upon or relating to
liabilities under the Securities Act, the Exchange Act or any other applicable
securities or other laws, rules or regulations in connection with (i) the
inaccuracy or breach of or default under any representation, warranty, covenant
or agreement in any Related Document, (ii) any untrue statement or
alleged untrue statement of a material fact contained in any Related Document
or (iii) any omission or alleged omission to state in any Related
Document a material fact required to be stated therein or necessary to make the
statements therein not misleading. 
Notwithstanding the foregoing, the Indemnifying Parties shall not be
obligated to indemnify such Indemnitee from and against any such Obligation to
the extent that such Obligation arises out of or is based upon an untrue
statement or omission made in such Related Document in reliance upon and in
conformity with written information furnished to the Indemnifying Parties, as
the case may be, in an instrument duly executed by such Indemnitee and
specifically stating that it is for use in the preparation of such Related
Document.


(c)           Without
limiting the foregoing, in the event that any Proceeding is initiated by an
Indemnitee or any member of the Company Group to enforce or interpret this
Agreement or any rights of such Indemnitee to indemnification or advancement of
expenses (or related Obligations of such Indemnitee) under any member of the
Company Group’s certificate of incorporation or bylaws, any other agreement to
which Indemnitee and any member of the Company Group are party, any vote of
directors of any member of the Company Group, the Delaware General Corporate
Law, any other applicable law or any liability insurance policy, the
Indemnifying Parties shall indemnify such Indemnitee against all costs and
Expenses incurred by such Indemnitee or on such Indemnitee’s behalf (including
by any Investor Associates  or its
Affiliates for all costs and Expenses incurred by such Person) in connection
with such Proceeding, whether or not such Indemnitee is successful in such
Proceeding, except to the extent that the court presiding over such Proceeding
determines that material assertions made by such Indemnitee in such proceeding
were in bad faith or were frivolous.


3.             Contribution.


(a)           If
for any reason the indemnity provided for in Section 2(a) is unavailable or is
insufficient to hold harmless any Indemnitee from any of the Obligations
covered by such indemnity, then the Indemnifying Parties, jointly and
severally, shall contribute to the amount paid or payable by such Indemnitee as
a result of such Obligation in such proportion as is appropriate to reflect (i) the
relative fault of each member of the Company Group, on the one hand, and such
Indemnitee, on the other, in connection with the state of facts giving rise to
such Obligation, (ii) if such Obligation results from, arises out
of, is based upon or relates to the Transactions or any Securities Offering,
the relative benefits received by each member of the Company Group, on the one
hand, and such 



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Indemnitee, on the other, from such Transaction or Securities Offering
and (iii) if required by applicable law, any other relevant equitable
considerations.


(b)           If
for any reason the indemnity specifically provided for in Section 2(b) is
unavailable or is insufficient to hold harmless any Indemnitee from any of the
Obligations covered by such indemnity, then the Indemnifying Parties, jointly
and severally, shall contribute to the amount paid or payable by such
Indemnitee as a result of such Obligation in such proportion as is appropriate
to reflect (i) the relative fault of each of the members of the
Company Group, on the one hand, and such Indemnitee, on the other, in
connection with the information contained in or omitted from any Related
Document, which inclusion or omission resulted in the inaccuracy or breach of
or default under any representation, warranty, covenant or agreement therein,
or which information is or is alleged to be untrue, required to be stated
therein or necessary to make the statements therein not misleading, (ii) the
relative benefits received by the members of the Company Group, on the one
hand, and such Indemnitee, on the other, from such Transaction or Securities
Offering and (iii) if required by applicable law, any other
relevant equitable considerations.


(c)           For
purposes of Section 3(a), the relative fault of each member of the Company
Group, on the one hand, and of an Indemnitee, on the other, shall be determined
by reference to, among other things, their respective relative intent,
knowledge, access to information and opportunity to correct the state of facts
giving rise to such Obligation.  For
purposes of Section 3(b), the relative fault of each of the members of the
Company Group, on the one hand, and of an Indemnitee, on the other, shall be
determined by reference to, among other things, (i) whether the
included or omitted information relates to information supplied by the members
of the Company Group, on the one hand, or by such Indemnitee, on the other, (ii) their
respective relative intent, knowledge, access to information and opportunity to
correct such inaccuracy, breach, default, untrue or alleged untrue statement,
or omission or alleged omission, and (iii) applicable law.  For purposes of Section 3(a) or 3(b), the
relative benefits received by each member of the Company Group, on the one
hand, and an Indemnitee, on the other, shall be determined by weighing the direct
monetary proceeds to the Company Group, on the one hand, and such Indemnitee,
on the other, from such Transaction or Securities Offering.


(d)           The
parties hereto acknowledge and agree that it would not be just and equitable if
contributions pursuant to Section 3(a) or 3(b) were determined by pro rata
allocation or by any other method of allocation that does not take into account
the equitable considerations referred to in such respective Section.  No Indemnifying Party shall be liable under
Section 3(a) or 3(b), as applicable, for contribution to the amount paid or
payable by any Indemnitee except to the extent and under such circumstances
such Indemnifying Party would have been liable to indemnify, defend and hold
harmless such Indemnitee under the corresponding Section 2(a) or 2(b), as applicable,
if such 



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indemnity were enforceable under applicable law.  No Indemnitee shall be entitled to
contribution from any Indemnifying Party with respect to any Obligation covered
by the indemnity specifically provided for in Section 2(b) in the event that
such Indemnitee is finally determined to be guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Securities
Act) in connection with such Obligation and the Indemnifying Parties are not
guilty of such fraudulent misrepresentation.


4.             Indemnification Procedures.


(a)           Whenever
any Indemnitee shall have actual knowledge of the assertion of a Claim against
it, such Indemnitee shall notify the appropriate member of the Company Group in
writing of the Claim (the “Notice of Claim”) with reasonable promptness
after such Indemnitee has such knowledge relating to such Claim; provided
the failure or delay of such Indemnitee to give such Notice of Claim shall not
relieve any Indemnifying Party of its indemnification obligations under this
Agreement except to the extent that such omission results in a failure of
actual notice to it and it is materially injured as a result of the failure to
give such Notice of Claim.  The Notice of
Claim shall specify all material facts known to such Indemnitee relating to
such Claim and the monetary amount or an estimate of the monetary amount of the
Obligation involved if such Indemnitee has knowledge of such amount or a
reasonable basis for making such an estimate. 
The Indemnifying Parties shall, at their expense, undertake the defense
of such Claim with attorneys of their own choosing reasonably satisfactory in
all respects to such Indemnitee, subject to the right of such Indemnitee to
undertake such defense as hereinafter provided. 
An Indemnitee  may participate
in such defense with counsel of such Indemnitee’s choosing at the expense of
the Indemnifying Parties.  In the event
that the Indemnifying Parties do not undertake the defense of the Claim within
a reasonable time after such Indemnitee has given the Notice of Claim, or in
the event that such Indemnitee shall in good faith determine that the defense
of any claim by the Indemnifying Parties is inadequate or may conflict with the
interest of any Indemnitee (including without limitation, Claims brought by or
on behalf of any member of the Company Group), such Indemnitee may, at the
expense of the Indemnifying Parties and after giving notice to the Indemnifying
Parties of such action, undertake the defense of the Claim and compromise or
settle the Claim, all for the account of and at the risk of the Indemnifying
Parties.  In the defense of any Claim
against an Indemnitee, no Indemnifying Party shall, except with the prior
written consent of such Indemnitee, consent to entry of any judgment or enter
into any settlement that includes any injunctive or other non-monetary relief
or any payment of money by such Indemnitee, or that does not include as an
unconditional term thereof the giving by the Person or Persons asserting such
Claim to such Indemnitee of an unconditional release from all liability on any
of the matters that are the subject of such Claim and an acknowledgement that
Indemnitee denies all wrongdoing in connection with such matters.  The Indemnifying Parties shall not be
obligated to indemnify Indemnitee against amounts paid in settlement of a Claim
if such settlement is effected by such Indemnitee without the prior written
consent of the Company (on behalf of all 



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Indemnifying Parties), which shall not be unreasonably withheld.  In each case, each Indemnitee seeking
indemnification hereunder will cooperate with the Indemnifying Parties, so long
as an Indemnifying Party is conducting the defense of the Claim, in the
preparation for and the prosecution of the defense of such Claim, including making
available evidence within the control of such Indemnitee, as the case may be,
and persons needed as witnesses who are employed by such Indemnitee, as the
case may be, in each case as reasonably needed for such defense and at cost,
which cost, to the extent reasonably incurred, shall be paid by the
Indemnifying Parties.


(b)           An
Indemnitee shall notify the Indemnifying Parties in writing of the amount
requested for advances (“Notice of Advances”).  The Indemnifying Parties hereby agree to
advance reasonable costs and Expenses incurred by any Indemnitee in connection
with any Claim (but not for any Claim initiated or brought voluntarily by an
Indemnitee other than a Proceeding pursuant to Section 2(c)) in advance of the
final disposition of such Claim without regard to whether Indemnitee will
ultimately be entitled to be indemnified for such costs and expenses upon
receipt of an undertaking by or on behalf of such Indemnitee to repay amounts
so advanced if it shall ultimately be determined in a decision of a court of
competent jurisdiction from which no appeal can be taken that such Indemnitee
is not entitled to be indemnified by the Indemnifying Parties as authorized by
this Agreement.  The Indemnifying Parties
shall make payment of such advances no later than 10 days after the receipt of
the Notice of Advances.


(c)           An
Indemnitee shall notify the Indemnifying Parties in writing of the amount of
any Claim actually paid by such Indemnitee (the “Notice of Payment”).  The amount of any Claim actually paid by such
Indemnitee shall bear simple interest at the rate equal to the JPMorgan Chase
Bank, N.A. prime rate as of the date of such payment plus 2% per annum, from
the date the Indemnifying Parties receive the Notice of Payment to the date on
which any Indemnifying Party shall repay the amount of such Claim plus interest
thereon to such Indemnitee.  The
Indemnifying Parties shall make indemnification payments to such Indemnitee no
later than 30 days after receipt of the Notice of Payment.


(d)           Determination. 
The members of the Company Group intend that Indemnitee shall be
indemnified to the fullest extent permitted by law as provided in Section 2 and
that no Determination shall be required in connection with such
indemnification.  In no event shall a
Determination be required in connection with advancement of Expenses pursuant
to Section 4(b) or in connection with indemnification for expenses incurred as
a witness or incurred in connection with any Claim or portion thereof with
respect to which an Indemnitee has been successful on the merits or
otherwise.  Any decision that a
Determination is required by law in connection with any other indemnification
of an Indemnitee, and any such Determination, shall be made within 30 days after
receipt of a Notice of Claim, as follows:



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(i)            if no Change in
Control has occurred, (x) by a majority vote of the directors of the
Indemnifying Parties who are not parties to such Claim, even though less than a
quorum, or (y) by a committee of such directors designated by majority
vote of such directors, even though less than a quorum, or (z) if there
are no such directors, or if such directors so direct, by Independent Legal
Counsel in a written opinion to the Indemnifying Party and such Indemnitee; and


(ii)           if a Change in
Control has occurred, by Independent Legal Counsel in a written opinion to the
Indemnifying Parties (or their successors) and such Indemnitee.


The Indemnifying Parties shall pay all expenses
incurred by Indemnitee in connection with a Determination.


(e)           Independent
Legal Counsel.  If there has not been
a Change in Control, Independent Legal Counsel shall be selected by the
board of directors of the Company and approved by Indemnitee (which approval
shall not be unreasonably withheld or delayed). 
If there has been a Change in Control, Independent Legal Counsel
shall be selected by Indemnitee and approved by the Company (which approval
shall not be unreasonably withheld or delayed). 
The Indemnifying Parties shall pay the fees and expenses of Independent
Legal Counsel and indemnify Independent Legal Counsel against any and all
Expenses, claims, liabilities and damages arising out of or relating to its
engagement.


(f)            Consequences
of Determination; Remedies of Indemnitee. 
The Indemnifying Parties shall be bound by and shall have no right to
challenge a Favorable Determination.  If
an Adverse Determination is made, or if for any other reason the Indemnifying
Parties do not make timely indemnification payments or advances of expenses,
Indemnitee shall have the right to commence a Proceeding before a court of
competent jurisdiction to challenge such Adverse Determination and/or to
require the Indemnifying Parties to make such payments or advances.  An Indemnitee shall be entitled to be
indemnified for all Expenses incurred in connection with such a Proceeding in
accordance with Section 2 and to have such Expenses advanced by the Company in
accordance with Section 4(b).  If an
Indemnitee fails to timely challenge an Adverse Determination, or if an
Indemnitee challenges an Adverse Determination and such Adverse Determination
has been upheld by a final judgment of a court of competent jurisdiction from
which no appeal can be taken, then, to the extent and only to the extent
required by such Adverse Determination or final judgment, the Indemnifying
Parties shall not be obligated to indemnify or advance expenses to such
Indemnitee under this Agreement.



 12
 









(g)           Presumptions;
Burden and Standard of Proof.  In
connection with any Determination, or any review of any Determination, by any
person, including a court:


(i)           It shall be a
presumption that a Determination is not required.


(ii)          It shall be a
presumption that an Indemnitee has met the applicable standard of conduct and
that indemnification of such Indemnitee is proper in the circumstances.


(iii)         The burden of proof
shall be on the Indemnifying Parties to overcome the presumptions set forth in
the preceding clauses (i) and (ii), and each such presumption shall only be
overcome if the Indemnifying Parties establish that there is no reasonable basis
to support it.


(iv)         The termination of
any Proceeding by judgment, order, finding, 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 indemnification is not proper or that an
Indemnitee did not meet the applicable standard of conduct or that a court
has determined that indemnification is not permitted by this Agreement or
otherwise.


(v)          Neither the failure
of any person or persons to have made a Determination nor an Adverse
Determination by any person or persons shall be a defense to an Indemnitee’s
claim or create a presumption that an Indemnitee did not meet the applicable
standard of conduct, and any Proceeding commenced by an Indemnitee pursuant to
Section 4(f) shall be de novo
with respect to all determinations of fact and law.


5.             Certain Covenants.  The rights of each Indemnitee to be
indemnified under any other agreement, document, certificate or instrument or
applicable law are independent of and in addition to any rights of such
Indemnitee to be indemnified under this Agreement.  The rights of each Indemnitee and the
obligations of the Indemnifying Parties hereunder shall remain in full force
and effect regardless of any investigation made by or on behalf of such
Indemnitee.  Following the Transactions,
each of the Company Entities, and each of their corporate successors, shall
implement and maintain in full force and effect any and all corporate charter and
by-law provisions that may be necessary or appropriate to enable it to carry
out its obligations hereunder to the fullest extent permitted by applicable
law, including without limitation a provision of its certificate of
incorporation (or comparable organizational document under its jurisdiction of
incorporation) eliminating liability of a director for breach of fiduciary duty
to the fullest extent permitted by applicable law, as amended from time to
time.  So long as the Company or any
other member of the Company Group maintains liability insurance for 



 13
 









any directors, officers,
employees or agents of any such Person, the Indemnifying Parties shall ensure
that each Indemnitee serving in such capacity is covered by such insurance in
such a manner as to provide Indemnitee the same rights and benefits as are
accorded to the most favorably insured of the Company’s and the Company Group’s
then current directors and officers.  For
the avoidance of doubt, this Agreement shall not cover or apply with respect to
any Indemnitee in its or its Affiliates’ capacity as (i) a provider of Debt
Financing (or as agents for the lenders thereunder) or in the performance of
services pursuant to (x) the Engagement Letter, dated March 18, 2007, among
CDRSVM Acquisition Co., Inc., Citigroup Global Markets Inc., J.P. Morgan
Securities Inc. and Banc of America Securities LLC or (y) the Engagement
Letter, dated April 9, 2007, among CDRSVM Acquisition Co., Inc., Citigroup
Global Markets Inc., J.P. Morgan Securities Inc., Banc of America Securities
LLC, Goldman, Sachs & Co., and Morgan Stanley & Co., Incorporation, it
being understood that the performance of such services will be subject to the
separate indemnification provisions of the Debt Financing and/or those
engagement letters or (ii) a provider of financial advisory services to the
Company in connection with the Merger pursuant to  the
Engagement Letter, dated as of December 15, 2006, between the Company and Banc
of America Securities LLC, as supplemented June 28, 2007.


6.             Notices.  All notices and other communications hereunder
shall be in writing and shall be delivered by certified or registered mail
(first class postage prepaid and return receipt requested), telecopier,
overnight courier or hand delivery, as follows:


(a)   If to
any Company Entity, to:


ServiceMaster Global
Holdings, Inc.


c/o Clayton, Dubilier & Rice Fund VII, L.P.


1403 Foulk Road, Suite 106


Wilmington, Delaware 
19803


Attention: 
David H. Wasserman


Facsimile:  (302) 427-7398


with a copy to (which shall not constitute notice):


Clayton, Dubilier & Rice, Inc.

375 Park Avenue

18th Floor

New York, New York  10152

Attention:  Mr. David H. Wasserman

Facsimile:  (212) 893-7061



 14
 









with a copy to (which shall not constitute notice) each other
Committing Investor.


(b)   If to
any of the Investor, the Other Investors or Investor Associates, to it at:


100 N. Tryon

Charlotte, North Carolina 28255

Attention:  J. Chandler Martin


Scott R. Poole
(25th Floor)


Facsimile: 
(704) 386-6432


with a copy to (which shall not constitute
notice):


Kirkland &
Ellis LLP


Aon Center


200 East
Randolph Drive


Chicago,
Illinois 60601


Attention:  Christopher A. Ziebarth, Esq.


Facsimile:  (312) 861-2200


or to such other address or such other person as the
Company Entities, the Investor, the Other Investors or Investor Associates, as
the case may be, shall have designated by notice to the other parties
hereto.  All communications hereunder
shall be effective upon receipt by the party to which they are addressed.  A copy of any notice or other communication
given under this Agreement shall also be given to:


Debevoise & Plimpton LLP

919 Third Avenue

New York, New York  10022

Attention:  Franci J. Blassberg, Esq.

Facsimile:  (212) 909-6836


7.             Arbitration


(a)           Any
dispute, claim or controversy arising out of, relating to, or in connection
with this contract, or the breach, termination, enforcement, interpretation or
validity thereof, including the determination of the scope or applicability of
this agreement to arbitrate, shall be finally determined by arbitration.  The arbitration shall be administered by
JAMS.  If the disputed claim or
counterclaim exceeds $250,000, not including interest or attorneys’ fees, the
JAMS Comprehensive Arbitration Rules and Procedures (“JAMS Comprehensive
Rules”) in effect at the time of the arbitration shall govern the arbitration,
except as they may be modified herein or by mutual written 



 15
 









agreement of the parties.  If no
disputed claim or counterclaim exceeds $250,000, not including interest or
attorneys’ fees, the JAMS Streamlined Arbitration Rules and Procedures (“JAMS
Streamlined Rules”) in effect at the time of the arbitration shall govern
the arbitration, except as they may be modified herein or by mutual written
agreement of the parties.


(b)           The
seat of the arbitration shall be New York, New York.  The parties submit to jurisdiction in the
state and federal courts of the State of New York for the limited purpose of
enforcing this agreement to arbitrate.


(c)           The
arbitration shall be conducted by one neutral arbitrator unless the parties
agree otherwise.  The parties agree to
seek to reach agreement on the identity of the arbitrator within thirty (30)
days after the initiation of arbitration. 
If the parties are unable to reach agreement on the identity of the
arbitrator within such time, then the appointment of the arbitrator shall be
made in accordance with the process set forth in JAMS Comprehensive Rule 15.


(d)           The
arbitration award shall be in writing, state the reasons for the award, and be
final and binding on the parties.  The
arbitrator may, in the award, allocate all or part of the costs of the
arbitration, including the fees of the arbitrator and the attorneys’ fees of
the prevailing party.  Judgment on the
award may be entered by any court having jurisdiction thereof or having
jurisdiction over the relevant party or its assets.  Notwithstanding applicable state law, the
arbitration and this agreement to arbitrate shall be governed by the Federal
Arbitration Act, 9 U.S.C. § 1, et seq.


(e)           The
parties agree that the arbitration shall be kept confidential and that the
existence of the proceeding and any element of it (including but not limited to
any pleadings, briefs or other documents submitted or exchanged, any testimony
or other oral submissions, and any awards) shall not be disclosed beyond the
tribunal, JAMS, the parties, their counsel, accountants and auditors, insurers
and re-insurers, and any person necessary to the conduct of the
proceeding.  The confidentiality
obligations shall not apply (i) if disclosure is required by law, or in
judicial or administrative proceedings, or (ii) as far as disclosure is
necessary to enforce the rights arising out of the award.


8.             Governing Law; Jurisdiction,
Waiver of Jury Trial.  This Agreement
shall be governed in all respects, including validity, interpretation and
effect, by the law of the State of New York, regardless of the law that might
be applied under principles of conflict of laws to the extent such principles
would require or permit the application of the laws of another jurisdiction.


9.             Severability.  If any provision or provisions of this
Agreement shall be held to be invalid, illegal or unenforceable, the validity,
legality and enforceability of the remaining provisions hereof shall not in any
way be affected or impaired thereby.



 16
 









10.           Successors; Binding Effect.  Each Indemnifying Party will require any
successor (whether direct or indirect, by purchase, merger, consolidation,
reorganization or otherwise) to all or substantially all of the business and
assets of such Indemnifying Party, by agreement in form and substance
satisfactory to the Investor, the Other Investors and their counsel, expressly
to assume and agree to perform this Agreement in the same manner and to the
same extent that such Indemnifying Party would be required to perform if no
such succession had taken place.  This
Agreement shall be binding upon and inure to the benefit of each party hereto
and its successors and permitted assigns, and each other Indemnitee, but
neither this Agreement nor any right, interest or obligation hereunder shall be
assigned, whether by operation of law or otherwise, by the Company without the
prior written consent of the Investor and the Other Investors.


11.           Miscellaneous.  The headings contained in this Agreement are
for reference purposes only and shall not affect in any way the meaning or
interpretation of this Agreement.  This
Agreement is not intended to confer any right or remedy hereunder upon any
Person other than each of the parties hereto and their respective successors and
permitted assigns and each other Indemnitee. 
No amendment, modification, supplement or discharge of this Agreement,
and no waiver hereunder shall be valid and binding unless set forth in writing
and duly executed by the party or other Indemnitee against whom enforcement of
the amendment, modification, supplement or discharge is sought.  Neither the waiver by any of the parties
hereto or any other Indemnitee of a breach of or a default under any of the
provisions of this Agreement, nor the failure by any party hereto or any other
Indemnitee on one or more occasions, to enforce any of the provisions of this
Agreement or to exercise any right, powers or privilege hereunder, shall be
construed as a waiver of any other breach or default of a similar nature, or as
a waiver of any provisions hereof, or any rights, powers or privileges
hereunder.  The rights, indemnities and
remedies herein provided are cumulative and are not exclusive of any rights,
indemnities or remedies that any party or other Indemnitee may otherwise have
by contract, at law or in equity or otherwise. 
This Agreement may be executed in several counterparts, each of which
shall be deemed an original, and all of which together shall constitute one and
the same instrument.


[The remainder of this page has been left blank
intentionally.]



 17















IN WITNESS WHEREOF, the parties hereto have duly
executed this Agreement by their authorized representatives as of the date
first above written.


	
  

  	
   

  	
  BANC OF AMERICA CAPITAL 

  
	
   

  	
   

  	
  INVESTORS V, L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Banc of America
  Capital

  
	
   

  	
   

  	
  Management V, L.P., its General Partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By: 

  	
  BACM I GP, LLC,
  its General Partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ J. Travis
  Hain

  
	
   

  	
   

  	
   

  	
  Name: J. Travis Hain

  
	
   

  	
   

  	
   

  	
  Title: Managing Member

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  BAS CAPITAL FUNDING 

  
	
   

  	
   

  	
  CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ J. Travis
  Hain

  
	
   

  	
   

  	
   

  	
  Name: J. Travis Hain

  
	
   

  	
   

  	
   

  	
  Title: Managing Director

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  BACSVM, L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By: 

  	
  BA Equity
  Co-Invest GP, LLC, its

  
	
   

  	
   

  	
  General Partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ J. Travis
  Hain

  
	
   

  	
   

  	
   

  	
  Name: J. Travis Hain

  
	
   

  	
   

  	
   

  	
  Title: Authorized Person

  














 


	
  

  	
   

  	
  BANC OF AMERICA STRATEGIC

  INVESTMENTS CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ J. Travis
  Hain

  
	
   

  	
   

  	
   

  	
  Name: J. Travis Hain

  
	
   

  	
   

  	
   

  	
  Title: Managing Director

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  BANC OF AMERICA CAPITAL

  MANAGEMENT V, L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  BACM I GP, LLC, its General Partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ J. Travis
  Hain

  
	
   

  	
   

  	
   

  	
  Name: J. Travis Hain

  
	
   

  	
   

  	
   

  	
  Title: Managing Member

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  BACM I GP, LLC

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ J. Travis
  Hain

  
	
   

  	
   

  	
   

  	
  Name: J. Travis Hain

  
	
   

  	
   

  	
   

  	
  Title: Managing Member

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  BA EQUITY CO-INVEST GP LLC

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ J. Travis
  Hain

  
	
   

  	
   

  	
   

  	
  Name: J. Travis Hain

  
	
   

  	
   

  	
   

  	
  Title: Authorized Person

  














 


	
  

  	
   

  	
  SERVICEMASTER GLOBAL

  HOLDINGS, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Theresa A.
  Gore

  
	
   

  	
   

  	
   

  	
  Name: 

  	
  Theresa A. Gore

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Vice President, Treasurer and

  
	
   

  	
   

  	
   

  	
   

  	
  Assistant Secretary

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  THE SERVICEMASTER COMPANY

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Eric
  Zarnikow

  
	
   

  	
   

  	
   

  	
  Name: 

  	
  Eric Zarnikow

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Senior Vice President &

  
	
   

  	
   

  	
   

  	
   

  	
  Treasurer