**EXHIBIT 10(d)**

 

**INDEMNIFICATION AGREEMENT**

 

**THIS INDEMNIFICATION AGREEMENT** is entered into as of this          day of                , 2004, by and between United Rentals, Inc., a Delaware corporation (the “Company”), and                                             (“Indemnitee”). 

 

**RECITALS**

 

A. The Company is aware that because of the increasedexposure to litigation costs, talented and experienced persons are increasingly reluctant to serve or continue serving as directors and officers of corporations unless they are protected by comprehensive liability insurance and indemnification.

 

B. The statutes and judicial decisions regarding the duties ofdirectors and officers are often difficult to apply, ambiguous, or conflicting, and therefore fail to provide such directors and officers with adequate guidance regarding the proper course of action. 

 

C. The Board of Directors of the Company (the “Board”) hasconcluded that, in order to retain and attract talented and experienced individuals to serve as officers and directors of the Company and its subsidiaries and to encourage such individuals to take the business risks necessary for the success of theCompany and its subsidiaries, the Company should contractually indemnify its officers and directors, and the officers and directors of its subsidiaries, in connection with claims against such officers and directors in connection with their servicesto the Company and its subsidiaries, and has further concluded that the failure to provide such contractual indemnification could be detrimental to the Company, its subsidiaries and stockholders. 

 

**NOW, THEREFORE**, the parties, intending to be legally bound, herebyagree as follows: 

 

1. *Definitions.*

 

(a) *Agent.* “Agent” with respect to theCompany means any person who is or was a director, officer, employee or other agent of the Company or a Subsidiary of the Company; or is or was serving at the request of, for the convenience of, or to represent the interests of, the Company or aSubsidiary of the Company as a director, officer, employee or agent of another entity or enterprise; or was a director, officer, employee or agent of a predecessor corporation (or other predecessor entity or enterprise) of the Company or aSubsidiary of the Company, or was a director, officer, employee or agent of another enterprise at the request of, for the convenience of, or to represent the interests of such predecessor. 

 

(b) *Expenses*. “Expenses” means all directand indirect costs of any type or nature whatsoever (including, without limitation, all attorneys’ fees, costs of investigation and related disbursements) incurred by the Indemnitee in connection with the investigation, settlement, defense orappeal of a Proceeding covered hereby or the establishment or enforcement of a right to indemnification under this Agreement. 

 

(c) *Proceeding*. “Proceeding” means any threatened, pending, or completed claim, suit or action, whether civil, criminal,administrative, investigative or otherwise. 

 

(d) *Subsidiary*. “Subsidiary” means any corporation or other entity of which more than 10% of the outstanding voting securities or other voting interests is owned directly or indirectly by the Company, and one or more otherSubsidiaries, taken as a whole. 

 

2. *Maintenance of LiabilityInsurance.*

 

(a) The Company herebycovenants and agrees with Indemnitee that, subject to Section 2(b), the Company shall obtain and maintain in full force and effect directors’ and officers’ liability insurance (“D&O Insurance”) in reasonable amounts as theBoard of Directors shall determine from established and reputable insurers. In no event shall the terms of such D&O Insurance be less favorable to Indemnitee than the terms generally applicable to the Company’s executive officers anddirectors generally. 

(b) Notwithstanding the foregoing, the Company shall have no obligation to obtain ormaintain D&O Insurance if the Company determines in good faith that the premium costs for such insurance are (i) disproportionate to the amount of coverage provided after giving effect to exclusions, and (ii) substantially more burdensome to theCompany than the premiums charged to the Company for D&O Insurance currently in effect. 

 

3. *Mandatory Indemnification*. The Company shall defend, indemnify and hold harmless Indemnitee: 

 

(a) *Third Party Actions*. If Indemnitee is a person who was or is a party, or is threatened to be made a party, to any Proceeding(other than an action by or in the right of the Company) by reason of the fact that Indemnitee is or was or is claimed to be an Agent of the Company, or by reason of anything done or not done by Indemnitee in any such capacity, or by reason of thefact that Indemnitee personally guaranteed any obligation of the Company at any time, against any and all Expenses and liabilities or any type whatsoever (including, but not limited to, legal fees, judgments, fines, ERISA excise taxes or penalties,and amounts paid in settlement) incurred by such person in connection with the investigation, defense, settlement or appeal of such Proceeding, so long as the Indemnitee acted in good faith and in a manner the Indemnitee reasonably believed to be inor not opposed to the best interests of the Company, or, with respect to any criminal action or Proceeding, had no reasonable cause to believe such person’s conduct was unlawful. 

 

(b) *Derivative Actions*. If Indemnitee is a person who was or is a party, or is threatened to be madea party, to any Proceeding by or in the right of the Company by reason of the fact that he is or was an Agent of the Company, or by reason of anything done or not done by him in any such capacity, against any and all Expenses and liabilities of anytype whatsoever (including, but not limited to, legal fees, judgments, fines, ERISA excise taxes or penalties, and amounts paid in settlement) incurred by him in connection with the investigation, defense, settlement or appeal of such Proceeding, solong as the Indemnitee acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the Company; except that no indemnification under this subsection shall be made, and Indemnitee shall repay allamounts previously advanced by the Company, in respect of any claim, issue or matter for which such person is judged in a final, non-appealable decision to be liable to the Company by a court of competent jurisdiction due to willful misconduct inthe performance of his duties to the Company, unless and only to the extent that the court in which such Proceeding was brought or the Court of Chancery of Delaware shall determine that Indemnitee is fairly and reasonably entitled to indemnity.

 

(c) *Actions Where Indemnitee IsDeceased*. If Indemnitee is a person who was or is a party, or is threatened to be made a party, to any Proceeding by reason of the fact that he is or was an Agent of the Company, or by reason of anything done or not done by him in any suchcapacity, and prior to, during the pendency of, or after completion of, such Proceeding, the Indemnitee shall die, then the Company shall defend, indemnify and hold harmless the estate, heirs and legatees of the Indemnitee against any and allExpenses and liabilities incurred by or for such persons or entities in connection with the investigation, defense, settlement or appeal of such Proceeding on the same basis as provided for the Indemnitee in Sections 3(a) and 3(b) above. 

 

The Expenses and liabilities covered hereby shall be net of any paymentsby D&O Insurance carriers or others. 

 

4. *PartialIndemnification*. If Indemnitee is found under Section 3, 6 or 9 hereof not to be entitled to indemnification for all of the Expenses relating to a Proceeding, the Company shall indemnify the Indemnitee for any portion of such Expenses notspecifically precluded by the operation of such Section 3, 6 or 9. 

 

5. *Indemnification Procedures; Mandatory Advancement of Expenses.*

 

(a) Promptly after receipt by Indemnitee of notice to him or her of the commencement or threat of any Proceeding covered hereby,Indemnitee shall notify the Company of the commencement or threat thereof, provided that any failure to so notify shall not relieve the Company of any of its obligations hereunder. 

 

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(b) If, at the time of the receipt of a notice pursuant to Section 5(a) above, theCompany has D&O Insurance in effect, the Company shall give prompt notice of the Proceeding or claim to its insurers in accordance with the procedures set forth in the applicable policies. The Company shall thereafter take all necessary ordesirable action to cause such insurers to pay all amounts payable as a result of such Proceeding in accordance with the terms of such policies. 

 

(c) Indemnitee shall be entitled to retain one or more counsel from time to time selected by it in its sole discretion to act as itscounsel in and for the investigation, defense, settlement or appeal of each Proceeding. The Company shall not waive any privilege or right available to Indemnitee in any such Proceeding. 

 

(d) The Company shall bear all fees and Expenses (including invoices for advance retainers) of such counsel,and all fees and Expenses invoiced by other persons or entities, in connection with the investigation, defense, settlement or appeal of each such Proceeding. Such fees and Expenses are referred to herein as “Covered Expenses.” 

 

(e) Until a determination to the contrary under Section 6hereof is made, the Company shall advance all Covered Expenses in connection with each Proceeding. If required by law, as a condition to such advances, Indemnitee shall, at the request of the Company, agree to repay such amounts advanced if it shallultimately be determined by a final order of a court that Indemnitee is not entitled to be indemnified by the Company by the terms hereof or under applicable law. 

 

(f) Each advance to be made hereunder shall be paid by the Company to Indemnitee within 10 days followingdelivery of a written request therefor by Indemnitee to the Company. 

 

(g) The Company acknowledges the potentially severe damage to Indemnitee should the Company fail timely to make such advances to Indemnitee. 

 

6. *Determination of Right to Indemnification.*

 

(a) To the extent Indemnitee has been successful on the merits or otherwise in defense of any Proceeding,claim, issue or matter covered hereby, Indemnitee need not repay any of the Expenses advanced in connection with the investigation, defense or appeal of such Proceeding. 

 

(b) If Section 6(a) is inapplicable, the Company shall remain obligated to indemnify Indemnitee, andIndemnitee need not repay Expenses previously advanced, unless the Company, by motion before a court of competent jurisdiction, obtains an order for preliminary or permanent relief suspending or denying the obligation to advance or indemnify forExpenses. 

 

(c) Notwithstanding a determinationby a court that Indemnitee is not entitled to indemnification with respect to a specific Proceeding, Indemnitee shall have the right to apply to the Court of Chancery of Delaware for the purpose of enforcing Indemnitee’s right toindemnification pursuant to this Agreement. 

 

(d) Notwithstanding any other provision in this Agreement to the contrary, the Company shall indemnify Indemnitee against all Expenses incurred by Indemnitee in connection with any Proceeding under Section 6(b) or 6(c) and against allExpenses incurred by Indemnitee in connection with any other Proceeding between the Company and Indemnitee involving the interpretation or enforcement of the rights of Indemnitee under this Agreement unless a court of competent jurisdiction findsthat each of the material claims and/or defenses of Indemnitee in any such Proceeding were frivolous or made in bad faith. 

 

7. *Certificate of Incorporation and By-Laws*. The Company agrees that the Company’s Certificate of Incorporation and By-laws in effect on thedate hereof shall not be amended to reduce, limit, hinder or delay (i) the rights of Indemnitee granted hereby, or (ii) the ability of the Company to indemnify Indemnitee as required hereby. The Company further agrees that it shall exercise thepowers granted to it under its Certificate of Incorporation, its By-laws and by applicable law to indemnify Indemnitee to the fullest extent possible as required hereby. 

 

8. *Witness Expenses*. The Company agrees to compensate Indemnitee for the reasonable value of his or her time spent,and to reimburse Indemnitee for all Expenses (including attorneys’ fees and travel costs) incurred by 

 

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him or her, in connection with being a witness, or if Indemnitee is threatened to be made a witness, with respect to any Proceeding, by reason of his or herserving or having served as an Agent of the Company. 

 

9.*Exceptions*. Notwithstanding any other provision hereunder to the contrary, the Company shall not be obligated pursuant to the terms of this Agreement: 

 

(a) *Claims Initiated by Indemnitee*. To indemnify or advance Expenses to Indemnitee with respect to Proceedings or claimsinitiated or brought voluntarily by Indemnitee and not by way of defense (other than Proceedings under Section 6(b) or Section 6(c) or brought to establish or enforce a right to indemnification under this Agreement or the provisions of theCompany’s Certificate of Incorporation or By-laws unless a court of competent jurisdiction determines that each of the material assertions made by Indemnitee in such Proceeding were not made in good faith or were frivolous). 

 

(b) *Unauthorized Settlements*. To indemnify Indemniteeunder this Agreement for any amounts paid in settlement of a Proceeding covered hereby without the prior written consent of the Company to such settlement. 

 

10. *Non-exclusivity*. This Agreement is not the exclusive arrangement between the Company and Indemnitee regarding the subject matter hereof andshall not diminish or affect any other rights which Indemnitee may have under any provision of law, the Company’s Certificate of Incorporation or By-laws, under other agreements, or otherwise. 

 

11. *Continuation After Term*. Indemnitee’s rights hereunder shallcontinue after the Indemnitee has ceased acting as a director or Agent of the Company and the benefits hereof shall inure to the benefit of the heirs, executors and administrators of Indemnitee. 

 

12. *Interpretation of Agreement*. This Agreement shall be interpretedand enforced so as to provide indemnification to Indemnitee to the fullest extent now or hereafter permitted by law. 

 

13. *Severability.* If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable, provisions of theAgreement shall not in any way be affected or impaired thereby, and to the fullest extent possible, the provisions of this Agreement shall be construed or altered by the court so as to remain enforceable and to provide Indemnitee with as many of thebenefits contemplated hereby as are permitted under law. 

 

14.*Counterparts, Modification and Waiver*. This Agreement may be signed in counterparts. This Agreement constitutes a separate agreement between the Company and Indemnitee and may be supplemented or amended as to Indemnitee only by a writteninstrument signed by the Company and Indemnitee, with such amendment binding only the Company and Indemnitee. All waivers must be in a written document signed by the party to be charged. No waiver of any of the provisions of this Agreement shall beimplied by the conduct of the parties. A waiver of any right hereunder shall not constitute a waiver of any other right hereunder. 

 

15. *Notices*. All notices, demands, consents, requests, approvals and other communications required or permitted hereunder shall be in writing andshall be deemed to have been properly given if hand delivered (effective upon receipt or when refused), or if sent by a courier freight prepaid (effective upon receipt or when refused), in the case of the Company, at the addresses listed below, orto such other addresses as the parties may notify each other in writing. 

 

To Company:
  
United Rentals, Inc.
   
Five Greenwich Office Park
   
Greenwich, CT 06830
   
Attention: Legal Department

 

To Indemnitee: At theIndemnitee’s residence address and facsimile number on the records of the Company from time to time. 

 

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16. *Evidence of Coverage*. Upon request by Indemnitee, the Company shall provide evidence of theliability insurance coverage required by this Agreement. The Company shall promptly notify Indemnitee of any change in the Company’s D&O Insurance coverage. 

 

17. *Governing Law*. This Agreement shall be governed by and construed in accordance with the internal laws of theState of Delaware. 

 

IN WITNESS WHEREOF, the parties hereto haveentered into this Indemnification Agreement effective as of the date first above written. 

 

UNITED RENTALS, INC.

By
 
 

Name:
  
Title:
  
INDEMNITEE:

Name:
 
 
   
 

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