Document:

W.Murphy Indemnification Agreement

    EXHIBIT
      10.39

     

    INDEMNIFICATION
      AGREEMENT

    

    

    

    AGREEMENT
      dated as of February 9, 2007, between NEW BRUNSWICK SCIENTIFIC CO., INC., a
      New
      Jersey corporation (the "Corporation") and William Murphy (the "Director").
      

     

    WHEREAS,
      the Director is a member of the board of directors of the Corporation;
      and

     

    WHEREAS,
      proceedings based upon the Director's performance of his duties may be brought
      from time to time against or involving him; and

     

    WHEREAS,
      the Corporation recognizes that the threat of such proceedings might inhibit
      the
      Director in his performance of his duties and/or cause the Director to cease
      serving as a director of the Corporation; and

     

    WHEREAS,
      to reduce any such inhibition, the Corporation wishes to indemnify the Director
      against liabilities he may incur as a result of certain proceedings, as well
      as
      expenses he may incur in his defense in    
such proceedings; and

     

    WHEREAS,
      in certain proceedings involving claims relating to the Employee Retirement
      Income Security Act of 1974, as amended, Federal law may apply to limit the
      permissible scope of indemnification; and

     

    NOW,
      THEREFORE, the parties hereto, for valuable consideration, incident to the
      Director's service to, and to induce the continued service of the Director
      to
      the Corporation, agree as follows:

    

    

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    ARTICLE
      I

    DEFINITIONS

    1.1 Proceeding.
      "Proceeding" shall mean any pending, threatened or completed civil, criminal,
      administrative or arbitrative action, suit or proceeding, any appeal from any
      such action, suit or proceeding, and any inquiry or investigation which could
      lead to any such action, suit or proceeding.

     

    1.2 Expenses. "Expenses"
      shall mean reasonable costs, disbursements and counsel fees.

     

    1.3 Liabilities.
      "Liabilities" shall mean amounts paid or incurred in satisfaction or
      settlements, judgments, fines and penalties.

     

    1.4 Derivative
      Suit.
      "Derivative Suit" shall mean a Proceeding against the Director brought by or
      in
      the right of the Corporation, which involves the Director by reason of his
      being
      or having been a director, officer or agent of the Corporation or a subsidiary
      thereof.

     

    1.5 Breach
      Of The Director's Duty of Loyalty.
      "Breach
      Of The Director's Duty Of Loyalty" shall mean an act or omission which that
      person knows or believes to be contrary to the best interests of the Corporation
      or its Shareholders in connection with a matter in which he has a material
      conflict of interest.

     

    1.6 ERISA
      Suit.
      "ERISA
      Suit" shall mean a proceeding against the Director brought by or on behalf
      of a
      participant(s) or beneficiary of any employee welfare or pension benefit plan
      by
      reason of his being or having been a Trustee or fiduciary of such plan, or
      by
      reason of his actions with respect to the plan which he has taken in his
      capacity as a Director. 

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    ARTICLE
      II

    INDEMNIFICATION

    2.1 Personal
      Liability.
      The
      Director shall not be personally liable to the Corporation or its stockholders
      for damages for breach of any duty owed to the Corporation or its stockholders
      unless such breach of duty is based upon an act or omission (a) in Breach Of
      The
      Director's Duty Of Loyalty to the Corporation or its stockholders; (b) not
      in
      good faith or involving a knowing violation of law; or (c) resulting in receipt
      by the Director of an improper personal benefit.

     

    2.2 Expenses.
      Unless
      otherwise expressly prohibited by law, the Corporation shall indemnify the
      Director against his Expenses and all Liabilities in connection with any
      Proceeding involving the Director, including a proceeding by or in the right
      of
      the Corporation, unless such breach of duty is based upon an act or omission
      (a)
      in Breach Of The Director's Duty Of Loyalty to the Corporation or its
      stockholders; (b) not in good faith or involving a knowing violation of law;
      or
      (c) resulting in receipt by the Director of an improper personal
      benefit.

     

    2.3 Advancement
      of Expenses.
      The
      Corporation shall advance or pay those Expenses incurred by the Director in
      a
      Proceeding as and when incurred, provided,
      however,
      that
      the Director shall, as a condition to receipt of such advances, undertake to
      repay all amounts advanced if it shall finally be adjudicated that the breach
      of
      duty by the Director was based on an act or omission (a) in Breach Of The
      Director's Duty Of Loyalty to the Corporation or its stockholders; (b) not
      in
      good faith or involving a knowing violation of the law; or (c) resulting in
      receipt of an improper personal benefit.

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    ARTICLE
      III

    INDEMNIFICATION
      FOR ERISA SUITS

    3.1 Indemnification.
      The
      Corporation shall, to the extent indemnification is not available to the
      Director under Article II of this Agreement, indemnify the Director against
      any
      and all Liabilities and Expenses which he may incur in connection with any
      ERISA
      Suit, if:

    (a) he
      acted
      in good faith, and

    (b) in
      a
      manner which did not constitute a breach of fiduciary obligations as defined
      by
      the Employee Retirement Income Security Act, 29 U.S.C. §1101-1114.

     

    3.2 No
      Presumption.
      The
      termination of any proceeding in connection with any ERISA Suit by judgment,
      order or settlement should not of itself create a presumption that the Director
      did not meet the applicable standards of conduct set forth in subparagraphs
      (a)
      and (b) above.

     

    3.3 Determination.
      Any
      determination concerning whether the Director met the standards of conduct
      set
      forth in subparagraphs 3.1(a) and (b) above shall be made:

    (a) by
      the
      Board of Directors of the Corporation or a committee thereof acting by a
      majority vote of a quorum consisting of directors who were not parties to or
      otherwise involved in the proceeding; or

    (b) by
      the
      Shareholders, if provided by the Certificate of Incorporation, the by-laws
      of
      the Corporation, or a resolution of either the Board of Directors or the
      Shareholders of the Corporation; or

    (c) by
      independent legal counsel in a written opinion, if a quorum of the Board of
      Directors cannot be obtained, or if a quorum of the Board of Directors or a
      committee thereof by a majority vote of the disinterested directors so directs.
      Such counsel shall be designated by the Board of Directors.

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    ARTICLE
      IV

    MISCELLANEOUS 

    4.1 Agreement
      Effective Despite Service Prior to Effective Date and After Termination of
      Director.
      This
      Agreement shall be effective without regard to the service of the Director
      as a
      Director of the Corporation prior to the date hereof and this Agreement shall
      remain effective notwithstanding the removal, resignation, death or other
      termination of the Director from any position with the Corporation.

     

    4.2 Binding
      Effect Upon Successors of Corporation.
      This
      Agreement shall bind the Corporation, its successors and assigns.

     

    4.3 Insurance.
      The
      Corporation, at its sole discretion, may purchase and maintain insurance on
      behalf of the Director.

     

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

    
      	
              ATTEST:

            	
              NEW
                BRUNSWICK SCIENTIFIC CO., INC.

            
	 	 
	 	 
	
              /s/
                Adele Lavender  

            	
              By:
                /s/
                David Freedman  

            
	
              Adele
                Lavender

            	
              David
                Freedman

            
	
              Secretary

            	
              Chairman

            
	 	 
	 	
              By:
                /s/
                William J. Murphy  

            
	 	
              William
                J. Murphy

            

    

    

    
      
         

      

      
        5<PAGE>                                              Exhibit 10.5

people's bank                                       People's Bank
                                                    People's Financial Plaza
                                                    350 Bedford Street
                                                    Stamford, Connecticut  06901

November 16, 2006

Ms. Angela Toppi
Chief Financial Officer
Trans-Lux Corporation
110 Richards Avenue
Norwalk, CT  06854

Dear Ms. Toppi:

Reference is made to the $21,150,000 Commercial Loan and Security dated December
23, 2004 between People's Bank and Trans-Lux Corporation and Amendment number 1
to amend and restate the commercial loan and security agreement dated May 9,
2006 between People's Bank and Trans-Lux Corporation.  Upon your acknowledgement
and effective the date of your acknowledgement and agreement below, the Bank
agrees to amend and modify the following terms and conditions under the Loan
Documents subject to the terms and conditions contained herein (the "Amendment
and Modification").  Note that this letter may be superseded by an Amendment and
Modification Agreement prepared by People's Bank counsel, subject to the sole
discretion of People's Bank.

Covenants:
---------
  * The following covenants will be modified for the rolling 4 quarters ended
    September 30, 2006 and the rolling 4 quarters ending December 31, 2006 and
    all rolling 4 quarter periods thereafter:

    (1) The definition of Fixed Charge Coverage shall mean:  Earnings before
        Interest Taxes Depreciation and Amortization minus total capital
        expenditures less $2,500,000, minus total dividends (the numerator),
        divided by total interest expense plus prior period current portion of
        long-term debt plus any provision for income taxes (the denominator).
        "Prior period current portion of long-term debt" shall mean current
        portion of long-term debt due during the 4 quarters then ended.

    (2) The Fixed Charge Coverage covenant shall be no less than 1.10x for the
        rolling 4 quarters ended September 30, 2006, the rolling 4 quarters
        ending December 31, 2006, and all quarters thereafter.

    (3) Tangible Net Work shall be no less than $18,500,000 at all times.

<PAGE>

Additional Conditions:
---------------------

  * All other terms and conditions will remain unchanged.

The undersigned agrees and acknowledges that the Amendment and Modification of
the Loan Agreement may be superseded by a formal Amendment and Modification
Agreement subject to the sole discretion of People's Bank to be prepared by
People's Bank counsel.  Failure to execute the formal Amendment and Modification
Agreement, if required by People's Bank, within 5 business days of receipt of
such agreement shall render the terms of this letter null and void.  All related
legal fees and closing costs in conjunction with the preparation of this letter
and the legal documents to follow will be paid by the Borrower.

Furthermore, the foregoing shall not be deemed a waiver of, or in prejudice to,
any other rights of the Bank under the Loan Documents or any other documents
executed in connection therewith.  This Amendment and Modification shall be
applicable only to the specific terms and conditions referred to herein and
shall not modify any other obligations of Trans-Lux Corporation to the Bank.

Upon your acceptance of the below, please sign and date and return a copy of
this agreement along with a check made payable to People's Bank on the amount of
$5,000.00 representing the "Amendment Fee" for this agreement.

People's Bank

By  /s/ Martin Anderson
    -------------------
     Martin H. Anderson
     Vice President

Agreed and Accepted to:

Trans-Lux Corporation
---------------------

By /s/ Angela D. Toppi          Date: 11/16/06
   -------------------               ----------
    Angela Toppi,
    Chief Financial Officer, duly authorized

<PAGE>
people's bank                                       People's Bank
                                                    People's Financial Plaza
                                                    350 Bedford Street
                                                    Stamford, Connecticut  06901

April 2, 2007

Ms. Angela Toppi
Chief Financial Officer
Trans-Lux Corporation
110 Richards Avenue
Norwalk, CT  06854

Dear Ms. Toppi:

Reference is made to the $21,150,000 Commercial Loan and Security dated December
23, 2004 between People's Bank and Trans-Lux Corporation, Amendment Number 1 to
Amend and Restate the Commercial Loan and Security Agreement dated May 9, 2006
and the Amendment & Waiver Agreement dated November 16, 2006 between People's
Bank and Trans-Lux Corporation.  Upon your acknowledgement and effective the
date of your acknowledgement and agreement below, the Bank hereby agrees to
Extend, Waive and Modify the following terms and conditions under the Loan
Documents subject to the terms and conditions contained herein (the "Extension,
Waiver and Modification").  Note that this letter will be superseded by an
Extension, Waiver and Modification Agreement prepared by People's Bank counsel,
subject to the sole discretion of People's Bank.

1.  The December 31, 2006 company-prepared compliance certificate reported
    capital expenditures of $1,681,000 for the 3-month period then ended.
    Amendment Number 1 to Amend and Restate the Commerical Loan and Security
    Agreement dated May 9, 2006 states that Capital Expenditures must not be
    more than $1,000,000 per quarter.

2.  The maturity date of the loan agreement will be hereby extended from January
    1, 2008 to April 1, 2008.  As part of this extension agreement, the
    "Forbearance and Amendment Fee" of $350,000 will be enforced if there is an
    "Additional Mandatory Prepayment Event" of the loans on or prior to April 1,
    2008.

Additional Conditions:

    *   All other terms and conditions will remain unchanged.

The undersigned agrees and acknowledges that the Extension, Waiver and
Modification of the Loan Agreement will be superseded by a formal Extension,
Waiver and Modification Agreement subject to the sole discretion of People's
Bank to be prepared by People's Bank counsel.  Failure to execute the formal
Amendment and Modification Agreement, if required by Peoples Bank, within 5
business days of receipt of such agreement shall render the terms of this letter
null and void.  All related legal fees and closing costs in conjunction with the
preparation of this letter and the legal documents to follow will be paid by the
Borrower.

Furthermore, the foregoing shall not be deemed a waiver of, or in prejudice to,
any other rights of the Bank under the Loan Documents or any other documents
executed in connection therewith.  This Extension, Waiver and Modification shall
be applicable only to the specific terms and conditions referred to herein and
shall not modify any other obligations of Trans-Lux Corporation to the Bank.

Upon your acceptance of the below, please sign and date and return a copy of
this agreement along with a check made payable to People's Bank in the amount of
$22,500.00 representing the "Extension Fee" for this agreement.  Upon executing
the Formal Extension, Waiver and Modification prepared by People's Bank counsel,
an additional $22,500.00 will be due and Payable to People's Bank.

People's Bank

By /s/ Martin H. Anderson
   ----------------------
    Martin H. Anderson
    Vice President

Agreed and Accepted to:

Trans-Lux Corporation
---------------------

By /s/ Angela Toppi                            Date: 04/02/07
   ----------------                                  --------------
    Angela Toppi,
    Chief Financial Officer, duly authorized

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