Document:

Exhibit 10.9

 

INSIGHT HEALTH SERVICES HOLDINGS
CORP.

INSIGHT HEALTH SERVICES CORP.

INDEMNIFICATION AGREEMENT

This INDEMNIFICATION AGREEMENT (this “Agreement”)
is made as of August 1, 2007, by and among InSight Health Services Holdings
Corp., a Delaware corporation (“Holdings”), and InSight Health Services Corp, a
Delaware corporation (“InSight,” and together with Holdings, the “Company”),
and                       
(the “Indemnitee”).

RECITALS:

A.            The Company recognizes that
competent and experienced persons are increasingly reluctant to serve or to
continue to serve as directors or officers of corporations unless they are
protected by comprehensive liability insurance or indemnification, or both, due
to increased exposure to litigation costs and risks resulting from their
service to such corporations, and due to the fact that the exposure frequently
bears no reasonable relationship to the compensation of such directors and
officers;

B.            The statutes and judicial decisions
regarding the duties of directors and officers are often difficult to apply,
ambiguous, or conflicting, and therefore fail to provide such directors and
officers with adequate, reliable knowledge of legal risks to which they are
exposed or information regarding the proper course of action to take;

C.            The Company and Indemnitee recognize
that plaintiffs often seek damages in such large amounts and the costs of
litigation may be so enormous (whether or not the case is meritorious), that
the defense and/or settlement of such litigation is often beyond the personal
resources of directors and officers;

D.            The Company believes that it is
unfair for its directors and officers to assume the risk of huge judgments and
other expenses which may occur in cases in which the director or officer
received no personal profit and in cases where the director or officer was not
culpable;

E.             The Company, after reasonable
investigation, has determined that the liability insurance coverage presently
available to the Company may be inadequate in certain circumstances to cover
all possible exposure for which Indemnitee should be protected.  The
Company believes that the interests of the Company and its stockholders would
best be served by a combination of such insurance and the indemnification by
the Company of the directors and officers of the Company;

F.             The certificates of incorporation
of each of Holdings and InSight require that Holdings and InSight indemnify
their directors and officers to the fullest extent permitted by the Delaware
General Corporation Law (the “DGCL”);

G.            Section 145 of the DGCL (“Section 145”),
under which Holdings and InSight are organized, empowers Holdings and InSight
to indemnify their officers, directors, employees and

agents by agreement and to indemnify persons who serve, at the request
of Holdings or InSight, as the directors, officers, employees or agents of
other corporations or enterprises, and expressly provides that the
indemnification provided by Section 145 is not exclusive;

 

H.            Section 102(b)(7) of the DGCL allows
a corporation to include in its certificate of incorporation a provision
limiting or eliminating the personal liability of a director for monetary
damages in respect of claims by stockholders and corporations for breach of
certain fiduciary duties, and Holdings and InSight have so provided in their
respective certificates of incorporation that each director shall be exculpated
from such liability to the maximum extent permitted by law;

I.              The Board of Directors has
determined that contractual indemnification as set forth herein is not only
reasonable and prudent but also promotes the best interests of the Company and
its stockholders; and

J.             The Company desires and has
requested Indemnitee to serve or continue to serve as a director or officer of
the Company free from undue concern for unwarranted claims for damages arising
out of or related to such services to the Company.

The Company and Indemnitee, intending to be legally
bound, hereby agree as follows:

1.             INDEMNIFICATION.

(a)           Third
Party Proceedings.  The Company shall
indemnify Indemnitee if Indemnitee was or is a party to or witness in or is
threatened to be made a party to or witness in any threatened, pending or
completed action, suit or proceeding, whether civil, criminal, administrative
or investigative (other than an action by or in the right of the Company) by
reason of the fact that Indemnitee is or was a director, officer, employee or
agent of the Company, or any subsidiary of the Company, or by reason of the
fact that Indemnitee is or was serving at the request of the Company as a
director, officer, employee or agent of another corporation, partnership, joint
venture, trust or other enterprise, against expenses (including attorneys’
fees), judgments, fines and amounts paid in settlement (if such settlement is
approved in advance by the Company, which approval shall not be unreasonably
withheld) actually and reasonably incurred by Indemnitee in connection with
such action, suit or proceeding if Indemnitee acted in good faith and in a
manner Indemnitee reasonably believed to be in or not opposed to the best
interests of the Company and, with respect to any criminal action or
proceeding, had no reasonable cause to believe Indemnitee’s conduct was
unlawful.  The termination of any action
or proceeding by judgment, order, settlement, conviction or upon a plea of nolo
contendere or its equivalent, shall not, of itself, create a presumption that
(i) Indemnitee did not act in good faith and in a manner which Indemnitee
reasonably believed to be in or not opposed to the best interests of the
Company, and (ii) with respect to any criminal action or proceeding, Indemnitee
had reasonable cause to believe that Indemnitee’s conduct was unlawful.

(b)           Proceedings
By or in the Right of the Company. 
The Company shall indemnify Indemnitee if Indemnitee was or is a party
to or witness in or is threatened to be made a party to or witness in any
threatened, pending or completed action or suit by or in the right of the
Company or any subsidiary of the Company to procure a judgment in its favor by
reason of the

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fact that Indemnitee is or was a director, officer, employee or agent
of the Company, or any subsidiary of the Company, or by reason of the fact that
Indemnitee is or was serving at the request of the Company as a director,
officer, employee or agent of another corporation, partnership, joint venture,
trust or other enterprise, against expenses (including attorneys’ fees)
actually and reasonably incurred by Indemnitee in connection with the defense
or settlement of such action or suit if Indemnitee acted in good faith and in a
manner Indemnitee reasonably believed to be in or not opposed to the best
interests of the Company, except that no indemnification shall be made in
respect of any claim, issue or matter as to which Indemnitee shall have been
adjudged to be liable to the Company, or any subsidiary of the Company, unless
and only to the extent that the Court of Chancery of the State of Delaware or
the court in which such action or suit is or was pending shall determine upon
application that, despite the adjudication of liability but in view of all the
circumstances of the case, Indemnitee is fairly and reasonably entitled to
indemnity for expenses and then only to the extent that the court shall deem
proper.

 

(c)           Successful
Defense.  To the extent Indemnitee
has been successful on the merits or otherwise in defense of any action, suit
or proceeding referred to in Section 1(a) or (b) hereof, Indemnitee shall be
indemnified against expenses (including attorney fees) actually and reasonably
incurred by Indemnitee in connection therewith.

2.             EXPENSES; INDEMNIFICATION PROCEDURE.

(a)           Advancement
of Expenses.  The Company shall
advance all expenses incurred by Indemnitee in connection with the
investigation, defense, settlement or appeal of any civil or criminal action or
proceeding referenced in Section 1(a) or (b) hereof (but not amounts actually
paid in settlement of any such action or proceeding).  Indemnitee hereby undertakes to repay such
amounts advanced only if, and to the extent that, it shall ultimately be
determined that Indemnitee is not entitled to be indemnified by the Company as
authorized hereby.  The advances to be
made hereunder shall be paid by the Company to Indemnitee within twenty (20)
days following delivery of a written request therefor by Indemnitee to the
Company, accompanied by such supporting documentation as may be reasonably
requested by the Company.

(b)           Notice/Cooperation
by Indemnitee.  Indemnitee shall, as
a condition precedent to his or her right to be indemnified under this
Agreement, give the Company notice in writing as soon as practicable of any
claim made against Indemnitee for which indemnification will or could be sought
under this Agreement.  In addition,
Indemnitee shall give the Company such information and cooperation as it may
reasonably require and as shall be within Indemnitee’s power.

(c)           Procedure.  Any indemnification provided for in Section 1
shall be made no later than forty-five (45) days after receipt of the written
request of Indemnitee made following final disposition of the action or
proceeding to which such indemnification relates.  If a claim by Indemnitee under this
Agreement, under any statute, or under any provision of the Company’s
Certificate of Incorporation or Bylaws providing for indemnification, is not
paid in full by the Company within forty-five (45) days after a written request
for payment thereof has first been

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received by the Company, Indemnitee may, but need not, at any time
thereafter bring an action against the Company to recover the unpaid amount of
the claim and, subject to Section 12 hereof, Indemnitee shall also be entitled
to be paid for the expenses (including reasonable attorneys’ fees) of bringing
such action.  It shall be a defense to
any such action (other than an action brought to enforce a claim for expenses
incurred in connection with any action or proceeding in advance of its final
disposition) that Indemnitee has not met the standards of conduct which make it
permissible under applicable law for the Company to indemnify Indemnitee for
the amount claimed, but the burden of proving such defense shall be on the
Company, and Indemnitee shall be entitled to receive interim payments of
expenses pursuant to Section 2(a) hereof unless and until such defense may be
finally adjudicated by court order or judgment from which no further right of
appeal exists.  It is the parties’
intention that if the Company contests Indemnitee’s right to indemnification,
the question of Indemnitee’s right to indemnification shall be for the court to
decide, and neither the failure of the Company (including its Board of
Directors, any committee or subgroup of the Board of Directors, independent
legal counsel or its stockholders) to have made a determination that
indemnification of Indemnitee is proper in the circumstances because Indemnitee
has met the applicable standard of conduct required by applicable law, nor an
actual determination by the Company (including its Board of Directors, any
committee or subgroup of the Board of Directors, independent legal counsel or
its stockholders) that Indemnitee has not met such applicable standard of
conduct, shall create a presumption that Indemnitee has or has not met the
applicable standard of conduct.

 

(d)           Notice
to Insurers.  If, at the time of the
receipt of a notice of a claim pursuant to Section 2(b) hereof, the Company has
director and officer liability insurance that may cover the claim in effect,
the Company shall give prompt notice of the commencement of such proceeding to
the insurers in accordance with the procedures set forth in the respective
policies.  The Company shall thereafter
take all necessary or desirable action to cause such insurers to pay, on behalf
of Indemnitee, all amounts payable as a result of such proceeding in accordance
with the terms of such policies in partial or complete satisfaction of the
Company’s obligations hereunder.

(e)           Selection
of Counsel.  In the event the Company
shall be obligated under Section 2(a) hereof to pay the expenses of any
proceeding against Indemnitee, the Company shall be entitled to assume the
defense of such proceeding, with counsel approved by Indemnitee, which approval
shall not be unreasonably withheld, upon the delivery to Indemnitee of written
notice of its election so to do.  After
delivery of such notice, approval of such counsel by Indemnitee and the
retention of such counsel by the Company, the Company will not be liable to
Indemnitee under this Agreement for any fees of counsel subsequently incurred
by Indemnitee with respect to the same proceeding, provided that (i) Indemnitee
shall have the right to employ his or her own counsel in any such proceeding at
Indemnitee’s expense; and (ii) if (A) the employment of counsel by Indemnitee
has been previously authorized by the Company, (B) Indemnitee shall have
reasonably concluded that there may be a conflict of interest between the
Company and Indemnitee in the conduct of any such defense or (C) the Company
shall not, in fact, have employed counsel to assume the defense of such
proceeding, then the fees and expenses of Indemnitee’s counsel shall be at the
expense of the Company.

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3.             ADDITIONAL INDEMNIFICATION RIGHTS;
NONEXCLUSIVITY.

 

(a)           Scope.  Notwithstanding any other provision of this
Agreement, the Company hereby agrees to indemnify the Indemnitee to the fullest
extent permitted by the Delaware General Corporation Law (other than Section
145(f) thereof or any successor non-exclusivity provision), notwithstanding
that such indemnification is not specifically authorized by the other provisions
of this Agreement, the Company’s Certificate of Incorporation, the Company’s
Bylaws or by statute.  In the event of
any change, after the date of this Agreement, in any applicable law, statute or
rule which expands the right of a Delaware corporation to indemnify a member of
its Board of Directors or an officer, such changes shall be, ipso facto, within the purview of Indemnitee’s rights and
the Company’s obligations, under this Agreement.  In the event of any change in any applicable
law, statute or rule which narrows the right of a Delaware corporation to
indemnify a member of its Board of Directors, such changes, to the extent not
otherwise required by such law, statute or rule to be applied to this Agreement
shall have no effect on this Agreement or the parties’ rights and obligations
hereunder.

(b)           Nonexclusivity.  The indemnification provided by this
Agreement shall not be deemed exclusive of any rights to which Indemnitee may
be entitled under the Company’s Certificate of Incorporation, its Bylaws, any
agreement, any vote of stockholders or disinterested directors, the Delaware
General Corporation Law or otherwise, both as to action in Indemnitee’s
official capacity and as to action in another capacity while holding such
office.  The indemnification provided
under this Agreement shall continue as to Indemnitee for any action taken or
not taken while serving in an indemnified capacity even though he or she may
have ceased to serve in such capacity at the time of any action or other
covered proceeding.

4.             PARTIAL INDEMNIFICATION.   If Indemnitee is entitled under any
provision of this Agreement to indemnification by the Company for some or a
portion of the expenses (including attorneys’ fees), judgments, fines and
amounts paid in settlement (if such settlement is approved in advance by the
Company, which approval shall not be unreasonably withheld) actually and
reasonably incurred by Indemnitee in connection with an action, suit or
proceeding described in Section 1(a), but not, however, for the total amount
thereof, the Company shall nevertheless indemnify Indemnitee for the portion of
such expenses (including attorneys’ fees), judgments, fines and amounts paid in
settlement to which Indemnitee is entitled.

5.             MUTUAL ACKNOWLEDGMENT. Both the
Company and Indemnitee acknowledge that in certain instances, Federal law or
applicable public policy may prohibit the Company from indemnifying its
directors and officers under this Agreement or otherwise.  Indemnitee understands and acknowledges that
the Company has undertaken or may be required in the future to undertake with
the Securities and Exchange Commission to submit the question of
indemnification to a court in certain circumstances for a determination of the
Company’s right under public policy to indemnify Indemnitee.

6.             SEVERABILITY.
Nothing in this Agreement is intended to require or shall be construed as
requiring the Company to do or fail to do any act in violation of applicable
law.  The Company’s inability, pursuant
to court order, to perform its obligations under this Agreement shall not
constitute a breach of this Agreement. The provisions of this Agreement

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shall be severable as provided in this Section 6.  If this Agreement or any portion hereof shall
be invalidated on any ground by any court of competent jurisdiction, then the
Company shall nevertheless indemnify Indemnitee to the full extent permitted by
any applicable portion of this Agreement that shall not have been invalidated,
and the balance of this Agreement not so invalidated shall be enforceable in
accordance with its terms.

 

7.             EXCEPTIONS.
Any other provision herein to the contrary notwithstanding, the Company shall
not be obligated pursuant to the terms of this Agreement:

(a)           Excluded
Acts.  To indemnify Indemnitee for
any acts or omissions or transactions from which a director may not be relieved
of liability under the Delaware General Corporation Law; or

(b)           Claims
Initiated by Indemnitee.  To
indemnify or advance expenses to Indemnitee with respect to proceedings or
claims initiated or brought voluntarily by Indemnitee and not by way of
defense, except with respect to proceedings brought to establish or enforce a
right to indemnification under this Agreement or any other statute or law or
otherwise as required under Section 145 of the Delaware General Corporation
Law, but such indemnification or advancement of expenses may be provided by the
Company in specific cases if the Board of Directors has approved the initiation
or bringing of such suit; or

(c)           Lack
of Good Faith.  To indemnify Indemnitee
for any expenses incurred by Indemnitee with respect to any proceeding
instituted by Indemnitee to enforce or interpret this Agreement, to the extent
that a court of competent jurisdiction determines that the material assertions
made by Indemnitee in such proceeding were not made in good faith or were
frivolous; or

(d)           Insured
Claims.  To indemnify Indemnitee for
expenses or liabilities of any type whatsoever (including, but not limited to,
judgments, fines, Employee Retirement Income Security Act of 1974 excise taxes
or penalties, and amounts paid in settlement) which have been paid directly to
Indemnitee by an insurance carrier under a policy of directors’ and officers’
liability insurance maintained by the Company or its affiliates; or

(e)           Claims
Under Section 16(b).  To indemnify
Indemnitee for expenses and the payment of profits arising from the purchase
and sale by Indemnitee of securities in violation of Section 16(b) of the
Securities Exchange Act of 1934, as amended, or any similar successor statute.

8.             EFFECTIVENESS OF AGREEMENT. To the
extent that the indemnification permitted under the terms of certain provisions
of this Agreement exceeds the scope of the indemnification provided for in the
Delaware General Corporation Law, such provisions shall not be effective unless
and until the Company’s Certificate of Incorporation authorizes such additional
rights of indemnification.  In all other
respects, the balance of this Agreement shall be effective as of the date set
forth on the first page hereof and may apply to acts or omissions of Indemnitee
which occurred prior to such date if Indemnitee was an officer, director,
employee or other agent of the Company, or was serving at the request of the
Company as a director, officer,

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employee or agent of another corporation, partnership, joint venture,
trust or other enterprise, at the time such act or omission occurred.

 

9.             CONSTRUCTION OF CERTAIN PHRASES.

(a)           Company.   For purposes of this Agreement, references to
the “Company” shall include, in addition to the resulting corporation, any
constituent corporation (including any constituent of a constituent) absorbed
in a consolidation or merger which, if its separate existence had continued,
would have had power and authority to indemnify its directors, officers,
employees or agents, so that if Indemnitee is or was a director, officer,
employee or agent of such constituent corporation, or is or was serving at the
request of such constituent corporation as a director, officer, employee or
agent of another corporation, partnership, joint venture, trust or other
enterprise, Indemnitee shall stand in the same position under the provisions of
this Agreement with respect to the resulting or surviving corporation as
Indemnitee would have with respect to such constituent corporation if its
separate existence had continued.

(b)           Other
Enterprise, etc.  For purposes of
this Agreement, references to “other enterprises” shall include employee
benefit plans; references to “fines” shall include any excise taxes assessed on
Indemnitee with respect to any employee benefit plan; and references to “serving
at the request of the Company” shall include any service as a director,
officer, employee or agent of the Company which imposes duties on, or involves
services by, such director, officer, employee or agent with respect to an
employee benefit plan, its participants or beneficiaries.

10.          COUNTERPARTS. This Agreement may be
executed in two (2) or more counterparts, each of which shall constitute an
original.

11.          SUCCESSORS AND ASSIGNS. This Agreement
shall be binding upon the Company and its successors and assigns, including any direct or indirect successor by
purchase, merger, consolidation or otherwise to all or substantially all of the
business and/or assets of the Company, and shall inure to the benefit of
Indemnitee and Indemnitee’s estate, heirs, legal representatives and
assigns.  The Company shall require and cause any successor (whether direct or
indirect by purchase, merger, consolidation or otherwise) to all, substantially
all or a substantial part of the business or assets of the Company, by written
agreement in form and substance reasonably satisfactory to Indemnitee,
expressly to assume and agree to perform this Agreement in the same manner and
to the same extent that the Company would be required to perform if no such
succession had taken place.

12.          ATTORNEYS’ FEES.  In the event that any action is instituted by
Indemnitee under this Agreement to enforce or interpret any of the terms
hereof, Indemnitee shall be entitled to be paid all court costs and expenses,
including reasonable attorneys’ fees, incurred by Indemnitee with respect to
such action, except to the extent that, as a part of such action, the court of
competent jurisdiction determines that the material assertions made by
Indemnitee as a basis for such action were not made in good faith or were
frivolous.  In the event of an action
instituted by or in the name of the Company under this Agreement or to enforce
or interpret any of the terms of this Agreement, Indemnitee shall be entitled
to be paid all court costs and expenses, including reasonable attorneys’ fees,
incurred by Indemnitee in defense of such action 

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(including with respect to Indemnitee’s counterclaims and cross claims
made in such action), except to the extent that, as a part of such action, the
court determines that Indemnitee’s material defenses to such action were made
in bad faith or were frivolous.

 

13.       NOTICES.  All
notices and other communications provided for or permitted hereunder shall be made
in writing by hand-delivery, first-class mail (registered or certified, return
receipt requested), facsimile, or air courier guaranteeing overnight delivery:

(i)                    if to the Indemnitee, at the address set forth on
the signature page of this Agreement, or as subsequently modified by written
notice; and

(ii)                 if to Holdings and InSight:

InSight Health Services Holdings
Corp.

InSight Health Services Corp.

26250 Enterprise Court

Suite 100

Lake Forest, CA 92630

Facsimile: (949) 462-3703

Attention: General Counsel

 

With a copy to:

 

 

Facsimile:

Attention:

All such notices and
communications shall be deemed to have been duly given: at the time delivered
by hand, if personally delivered; five (5) business days after being deposited
in the mail, postage prepaid, if mailed; when receipt acknowledged, if by
facsimile; and on the next business day, if timely delivered to an air courier
guaranteeing overnight delivery.

14.          CONSENT TO JURISDICTION.  The Company and Indemnitee each hereby
irrevocably consent to the jurisdiction of the courts of the State of Delaware
for all purposes in connection with any action or proceeding which arises out
of or relates to this Agreement and agree that any action instituted under this
Agreement shall be brought only in the state courts of the State of Delaware.

15.          CHOICE OF LAW.  This Agreement shall be governed by and its
provisions construed in accordance with the laws of the State of Delaware as
applied to contracts between Delaware residents entered into and to be
performed entirely within Delaware.

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

 

	
  

  	
  INSIGHT HEALTH SERVICES HOLDINGS

  CORP.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
  INSIGHT HEALTH SERVICES CORP.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  AGREED TO AND
  ACCEPTED:

  	
   

  	
   

  
	
  INDEMNITEE:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Name:

  	
   

  	
   

  
	
  Address:

  	
   

  	
   

  
						

 

 9Unassociated Document

     EXHIBIT
      4.1

    

    SPECIMEN
      OF COMMON STOCK CERTIFICATE

    

    CORPORATE
      EQUITY INVESTMENTS, INC.

    Incorporated
      Under the Law of the State of Florida

    

    100,000,000
      COMMON SHARES PAR VALUE $0.001 PER SHARE

    

    This
      certifies that _________________________________________________ is the
      registered holder of __________________________________ Shares transferable
      on
      the books of the Corporation by the holder hereof in person or by Attorney
      upon
      surrender of this Certificate properly endorsed.

    

    In
      Witness Whereof, the said Corporation has caused this Certificate to be signed
      by its duly authorized officers and its Corporate Seal to be hereunto affixed
      this ___ day of _________, A.D. 20__ .

    

    

    

    --------------------------                      -----------------------

    President                                       Secretary

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