Document:

exv10w15

Exhibit 10.15

SPS COMMERCE, INC.

2002 MANAGEMENT INCENTIVE AGREEMENT

     THIS 2002 MANAGEMENT INCENTIVE AGREEMENT (this “Agreement”) is entered into effective as of
the 1st day of July, 2002, by and between SPS Commerce, Inc., a Delaware corporation
(the “Company”), and James Frome (“Employee”).

     WHEREAS, the Company has in the past considered the possible sale of the Company, and may
consider such a sale in the future; and

     WHEREAS, subject to the terms and under the conditions herein, the Company desires to provide
an additional inducement for Employee to assist the Company at such time (if any) during which the
Company considers pursuing such a sale.

     NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and conditions
contained herein, the parties hereto agree as follows:

     1. Sale Bonus. Subject to the conditions and limitations herein (including without
limitation Sections 1(b), 1(c), 1(d) and 1(e) below), if a Sale (as hereinafter defined) of the
Company occurs, the Company shall pay to Employee an amount equal to the Sale Bonus (as hereinafter
defined) as follows:

          (a) Calculation. If the Purchase Price (as hereinafter defined) to the Company in
respect of any Sale is at least $25,000,000, then the “Sale Bonus” shall be an amount equal
to .115% (the “Designated Percentage”) of the amount of the Purchase Price that (x) exceeds
$25,000,000 and (y) does not exceed $65,000,000, subject to adjustment and paid as follows:

          (i) The Company shall pay the Sale Bonus to Employee within 5 days after the closing
date of the Sale.

          (ii) If Employee’s employment with the Company terminates for any or no reason (whether
voluntary, involuntary, or with or without cause, by death or for any other reason), such
termination shall not affect the Company’s obligation to pay the Sale Bonus to Employee, or
Employee’s rights thereto, in the event of a Sale.

          (iii) The form of payment of any Sale Bonus due hereunder shall be in the sole
discretion of the Board of Directors of the Company, and may consist of cash, securities,
other property, or a combination of the foregoing, all as decided by the Board of Directors.

For the avoidance of doubt, the following example of the above calculation is set forth: If a Sale
occurs with a Purchase Price of $70,000,000, then the amount of the Sale Bonus (to the extent
otherwise due hereunder) would be $46,000, which is the amount equal to the Designated Percentage
of $40,000,000 (which $40,000,000 is in turn the amount of such Purchase Price that exceeds
$25,000,000 but does not exceed $65,000,000).

 

 

          (b) Minimum Purchase Price. If the Purchase Price to the Company in respect of any
Sale of the Company is less than $25,000,000, then Employee shall not be entitled to any Sale Bonus
or other payment pursuant to this Agreement, and all of the Company’s obligations to pay the Sale
Bonus shall be canceled and be of no effect.

          (c) Termination of Right to Receive Payments. Notwithstanding any other provision
herein, if a Sale does not occur by June 30, 2012, then the Company’s obligation to make any
payment to Employee pursuant to this Agreement, and all of Employee’s rights thereto, shall be
canceled and be of no effect.

          (d) Possible Reduction of Payments Pursuant to Section 280G of the Internal Revenue
Code. Notwithstanding any provision to the contrary contained herein, if the payments to which
Employee may become entitled under this Section 1, either alone or together with other payments (if
any) in the nature of compensation to Employee which are contingent on a change in the ownership or
effective control of the Company or in the ownership of a substantial portion of the assets of the
Company or otherwise, would constitute a “parachute payment” as defined in Section 280G of the
Internal Revenue Code of 1986, as amended (the “Code”) (or any successor provision thereto,
together “Section 280G”), such cash payments and/or such other benefits shall be reduced (but not
below zero) to the largest aggregate amount as will result in no portion thereof being subject to
the excise tax imposed under Section 4999 of the Code (or any successor provision thereto, together
“Section 4999”), or being non-deductible to the Company for federal income tax purposes pursuant to
Section 280G. Company shall determine the amount of any reduction to be made pursuant to this
Section 1(d) and shall select from among the foregoing benefits and payments those that shall be
reduced.

          (e) Company Right to Amend Agreement. Notwithstanding any provision to the contrary
contained herein, Employee acknowledges that an independent committee of the Company’s Board of
Directors (“independent” in that it does not contain representatives of the preferred stockholders
of the Company), in its sole discretion, may at any time (upon notice to Employee) amend this
Agreement to reflect an equitable (as determined by the such committee in its sole discretion)
adjustment as a result of any (i) merger or acquisition made by the Company, (ii) additional rounds
of financing or (iii) similar events that the Company enters into prior to the occurrence of a
Sale, but only to the extent such committee determines that such events independently increased the
Purchase Price and that an equitable adjustment is required as a result. Such an amendment may
include, without limitation, a reduction in the Designated Percentage or other revisions to the
calculation of the Sale Bonus. EMPLOYEE AGREES THAT ANY SUCH AMENDMENT SHALL BE IN THE SOLE
DISCRETION OF THE INDEPENDENT COMMITTEE OF THE COMPANY’S BOARD OF DIRECTORS AND SHALL BE BINDING
UPON EMPLOYEE. EMPLOYEE WAIVES ANY AND ALL RIGHTS EMPLOYEE MAY HAVE TO CHALLENGE SUCH AMENDMENT.

          (f) Certain Definitions. As used herein, the following terms shall have the following
respective meanings:

          (i) “Sale” shall mean the actual closing (if any) of (A) the sale of all or
substantially all of the assets of the Company, other than to one or more persons who

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are stockholders of, or employed by, the Company on the date of this letter, an entity
controlled by or affiliated with such persons, an entity controlled by, or under common
control with, the Company, or any of them, (B) the sale of more than 70% of the voting stock
of the Company (on an as-converted basis) in a single transaction or series of transactions
other than to one or more persons who are stockholders of, or employed by, the Company on
the date of this Agreement, an entity controlled by or affiliated with such persons, an
entity controlled by, or under common control with, the Company, or any of them, or (C) a
merger or consolidation of the Company resulting in more than 70% of the voting power of the
Company or of the surviving or resulting corporation being vested in persons other than one
or more persons who are stockholders of, or employed by, the Company on the date of this
Agreement, an entity controlled by or affiliated with such persons, an entity controlled by,
or under common control with, the Company, or any of them.

          (ii) “Purchase Price” shall mean the aggregate of (A) cash amounts payable to
the Company as consideration pursuant to the terms of the Sale (including any
non-competition payments payable to the Company, but excluding any amounts payable to any
employees in connection with the Sale); and (B) any bona fide debt (i.e., debt represented
by a written promissory note or similar instrument) of the Company assumed by the purchaser
as consideration pursuant to the terms of the Sale. Notwithstanding the foregoing, to the
extent any amount of the Purchase Price is (x) subject to a post-closing adjustment (for
example, to reflect actual inventory or accounts receivables), or (y) payable only as an
“earn-out” contingency upon certain performance thresholds being achieved (i.e., minimum
revenue or earnings thresholds), then the Company shall, in consultation with its certified
public accountant, have the right in its discretion to determine an appropriate amount (if
any) to reflect the probable amount (as of the date of closing of the Sale) payable (or
other adjustment to be made) as a result of such an adjustment or earn-out contingency, and
in such event Employee hereby waives to the fullest extent permitted by law, any and all
rights to challenge or question such determination by the Company, it being understood by
Employee that any such determination would be based upon assumptions and projections that
might well be proven inaccurate.

     2. Effect on Other Bonus or Severance Programs. Any payments made under Section 1(a)
above shall be in addition to, and not in lieu of, any payments (if any) that may become due to
Employee under any existing or future executive management bonus or severance program of the
Company or any agreements in respect thereof.

     3. Sale at Company’s Discretion; No Obligation to Inform. Employee hereby
acknowledges and agrees that any decision to consider or pursue a Sale (and to establish the amount
of any consideration related thereto) shall be in the Company’s sole discretion, and that the
Company has no obligation to Employee (including without limitation pursuant to this Agreement) to
(a) cause a Sale to occur, including without limitation to seek
or entertain offers from third parties relating to any such matter, (b) negotiate with any third party regarding any
such matter, (c) seek any alternative to any such matter, or (d) establish the amount of any
consideration relating to a Sale in a manner that would cause the Company to be obligated to pay

3

 

a Sale Bonus or maximize the amount of any Sale Bonus. Employee further acknowledges and agrees that
the Company shall have no obligation to disclose to Employee the status of the Company’s efforts in
pursuing a Sale.

     4. Certain Representations, Warranties and Covenants of Employee. Employee hereby
represents, warrants and covenants to the Company as follows:

          (a) While an employee of the Company, Employee shall assist the Company in preparation for,
and in the consummation of, a Sale if requested by the Company, through the performance of
Employee’s normal and customary employment duties, as well as those duties as may be reasonably
requested by the Company from time to time, including without limitation assisting in the
compilation and analysis of data relating to the Company.

          (b) Employee acknowledges and agrees that the Company’s entering into this Agreement, and its
contingent obligations to make payments pursuant to Section 1 hereof, constitute full and complete
consideration for each of Employee’s obligations hereunder.

     5. No Right to Employment or Benefits. This Agreement does not constitute or imply
(a) any obligation or undertaking to employ Employee for any period of time or in any position, or
(b) any limitation on the right of the Company to terminate Employee’s employment at any time with
or without notice or cause.

     6. Withholding/Reduction of Payments. All payments hereunder are subject to
withholding of all taxes and other amounts required by law to be withheld or paid to others. The
Company may, in its discretion and to the full extent permitted by law, apply a payment otherwise
due Employee to pay any amounts, debts or claims owed to the Company by Employee, until all such
amounts, debts and claims are paid in full.

     7. No Waiver. No delay or failure by any party hereto to insist, in any one or more
instances, upon performance of any of the terms and conditions of this Agreement or to exercise any
rights or remedies hereunder shall constitute a waiver or relinquishment of such rights or remedies
or any other rights or remedies hereunder.

     8. Successors and Assigns. This Agreement shall be binding upon and inure to the
benefit of the successors, legal representatives and assigns of the parties hereto;
provided, however, that Employee shall not have any right to assign, pledge or
otherwise dispose of or transfer any interest in this Agreement or any payment hereunder, whether
directly or indirectly or in whole or in part, without the prior written consent of the Company,
and any such attempted assignment, pledge or other disposition or transfer in contravention of the
foregoing shall be null and void. Notwithstanding the foregoing, in the event of Employee’s death,
the Employee’s estate and/or legal beneficiaries shall be entitled to the rights of Employee
hereunder in the event of a Sale occurring prior to June 30, 2012.

     9. Separate Representation. Employee hereby acknowledges that Employee has been
advised, and has had ample opportunity, to obtain independent advice and representation from
counsel of Employee’s own selection in connection with this Agreement and has not relied 

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to any extent on any officer, director or shareholder of, or counsel to, the Company in deciding to enter
into this Agreement.

     10. Amendment; Complete Agreement. No provision of this Agreement may be altered,
amended, modified, waived or discharged in any manner whatsoever except (i) by the independent
committee pursuant to Section 1(e) and (ii) by written agreement executed by both parties hereto.
This Agreement contains the entire understanding of the parties hereto with respect to the subject
matter hereof.

     11. Governing Law. This Agreement shall be construed under and governed by the laws
of the State of Minnesota, without giving effect to principles of conflicts of law.

     12. Severability. In the event that any portion of this Agreement is held to be
invalid or unenforceable for any reason, such invalidity or unenforceability shall not affect the
other portions of this Agreement, and the remaining covenants, terms and conditions or portions
hereof shall remain in full force and effect, and any court of competent jurisdiction may so modify
the objectionable provision so as to make it valid, enforceable and as close in meaning and
economic effect to the original provision as possible.

     13. Counterparts. This Agreement may be executed by facsimile signature and in
counterparts, each of which shall be deemed an original, and all of which taken together shall
constitute one and the same instrument.

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

	 	 	 	 	 	 	 
	SPS COMMERCE, INC.	 	 	 	EMPLOYEE
	 
	 	 	 	 	 	 
	By:

	 	/s/ Archie Black
	 	 	 	/s/ James Frome
	 

	 	 
	 	 	 	 
	Name: Archie Black	 	 	 	James Frome
	Its: CEO	 	 	 	 

5exv10w17

Exhibit 10.17

SPS COMMERCE, INC.

INDEMNIFICATION AGREEMENT

     This
Indemnification Agreement (the “Agreement”) is made
and entered into as of          , 2009
between SPS Commerce, Inc., a Delaware corporation (the “Company”), and             (“Indemnitee”).

     WITNESSETH THAT:

     WHEREAS, the Board has determined that the increased difficulty in attracting and retaining
directors is detrimental to the best interests of the Company’s stockholders and that the Company
should act to assure such persons that there will be increased certainty of such protection in the
future;

     WHEREAS, it is reasonable, prudent and necessary for the Company contractually to obligate
itself to indemnify, and to advance expenses on behalf of, directors to the fullest extent
permitted by applicable law so that they will serve or continue to serve the Company free from
undue concern that they will not be so indemnified;

     WHEREAS, this Agreement is intended to clarify Indemnitee’s entitlement to the maximum
indemnity afforded directors under the Delaware General Corporation Law (the “DGCL”) and is a
supplement to and in furtherance of the provision calling for indemnification of directors
contained in the By-laws or Certificate of Incorporation (collectively, the “Charter Documents”) of
the Company and any resolutions adopted pursuant thereto, and shall not be deemed a substitute
therefor, nor to diminish or abrogate any rights of Indemnitee thereunder;

     WHEREAS, Indemnitee is employed by, or has agreed to serve as a director at the direction of
          (the “Sponsor”); and

     WHEREAS, neither Indemnitee nor Sponsor regards the protection available under the Company’s
Charter Documents and insurance as adequate in the present circumstances, and Indemnitee is not
willing to serve, and Sponsor will not consent to Indemnitee’s service, as a director without
adequate protection, and the Company desires Indemnitee to serve in such capacity. Indemnitee is
willing to serve, continue to serve and to take on additional service for or on behalf of the
Company on the condition that Indemnitee be so indemnified and Sponsor is willing to consent to
such service on the condition that the Company acknowledge its primary obligation as indemnitor and
its obligation to reimburse Sponsor for any expenditure of Sponsor’s own funds in indemnifying
Indemnitee because of his or her Corporate Status.

     NOW, THEREFORE, in consideration of Indemnitee’s agreement to serve as a director from and
after the date hereof, the parties hereto agree as follows:

          1. Indemnity of Indemnitee. The Company hereby agrees to hold harmless and indemnify
Indemnitee to the fullest extent permitted by law, as such may be amended from time to time. In
furtherance of the foregoing indemnification, and without limiting the generality thereof:

               (a) Proceedings Other Than Proceedings by or in the Right of the Company. Indemnitee
shall be entitled to the rights of indemnification provided in this Section l(a) if, by
reason of his or her Corporate Status (as hereinafter defined), the Indemnitee is, or is threatened
to be made, a party to or participant in any Proceeding (as hereinafter defined) other than a
Proceeding by or in the right of the Company. Pursuant to this Section 1(a), Indemnitee
shall be indemnified against all Expenses (as hereinafter defined), judgments, penalties, fines and
amounts paid in settlement actually and reasonably incurred by Indemnitee, or on his or her behalf,
in connection with such Proceeding or any claim, issue or matter therein, if the Indemnitee acted
in good faith and in a manner the Indemnitee reasonably believed to be in or not opposed to the
best interests of the Company, and with respect to any criminal Proceeding, had no reasonable cause
to believe the Indemnitee’s conduct was unlawful.

			
	 	 	 
	SPS Commerce, Inc. Form of Director Indemnification Agreement [VC Director]
	 	Page 1

 

 

               (b) Proceedings by or in the Right of the Company. Indemnitee shall be entitled to
the rights of indemnification provided in this Section 1(b) if, by reason of his or her
Corporate Status, the Indemnitee is, or is threatened to be made, a party to or participant in any
Proceeding brought by or in the right of the Company. Pursuant to this Section 1(b),
Indemnitee shall be indemnified against all Expenses actually and reasonably incurred by the
Indemnitee, or on the Indemnitee’s behalf, in connection with such Proceeding if the Indemnitee
acted in good faith and in a manner the Indemnitee reasonably believed to be in or not opposed to
the best interests of the Company; provided, however, if applicable law so provides, no
indemnification against such Expenses shall be made in respect of any claim, issue or matter in
such Proceeding as to which Indemnitee shall have been adjudged to be liable to the Company unless
and to the extent that the Court of Chancery of the State of Delaware shall determine that such
indemnification may be made.

               (c) Indemnification for Expenses of a Party Who is Wholly or Partly Successful.
Notwithstanding any other provision of this Agreement, to the extent that Indemnitee is, by reason
of his or her Corporate Status, a party to and is successful, on the merits or otherwise, in any
Proceeding, Indemnitee shall be indemnified to the maximum extent permitted by law, as such may be
amended from time to time, against all Expenses actually and reasonably incurred by Indemnitee or
on Indemnitee’s behalf in connection therewith. If Indemnitee is not wholly successful in such
Proceeding but is successful, on the merits or otherwise, as to one or more but less than all
claims, issues or matters in such Proceeding, the Company shall indemnify Indemnitee against all
Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection
with each successfully resolved claim, issue or matter. For purposes of this Section and without
limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal, with
or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter.

          2. Additional Indemnity. In addition to, and without regard to any limitations on,
the indemnification provided for in Section 1 of this Agreement, the Company shall and
hereby does indemnify and hold harmless Indemnitee against all Expenses, judgments, penalties,
fines and amounts paid in settlement actually and reasonably incurred by Indemnitee or on
Indemnitee’s behalf if, by reason of his or her Corporate Status, Indemnitee is, or is threatened
to be made, a party to or participant in any Proceeding (including a Proceeding by or in the right
of the Company), including, without limitation, all liability arising out of the negligence or
active or passive wrongdoing of Indemnitee. The only limitation that shall exist upon the
Company’s obligations pursuant to this Agreement shall be that the Company shall not be obligated
to make any payment to Indemnitee that is finally determined (under the procedures, and subject to
the presumptions, set forth in Sections 6 and 7 hereof) to be unlawful.

          3. Contribution.

               (a) Whether or not the indemnification provided in Sections 1 and 2 hereof is
available, in respect of any threatened, pending or completed action, suit or proceeding in which
the Company is jointly liable with Indemnitee (or would be if joined in such action, suit or
proceeding), the Company shall pay, in the first instance, the entire amount of any judgment or
settlement of such action, suit or proceeding without requiring Indemnitee to contribute to such
payment and the Company hereby waives and relinquishes any right of contribution it may have
against Indemnitee. The Company shall not enter into any settlement of any action, suit or
proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such
action, suit or proceeding) unless such settlement provides for a full and final release of all
claims asserted against Indemnitee.

               (b) Without diminishing or impairing the obligations of the Company set forth in the preceding
subparagraph, if, for any reason, Indemnitee shall elect or be required to pay all or any portion
of any judgment or settlement in any threatened, pending or completed action, suit or proceeding in
which the Company is jointly liable with Indemnitee (or would be if joined in such action, suit or
proceeding), the Company shall contribute to the amount of Expenses, judgments, fines and amounts
paid in settlement actually and reasonably incurred and paid or payable by Indemnitee in proportion
to the relative benefits received by the Company and all officers, directors or employees of the

			
	 	 	 
	SPS Commerce, Inc. Form of Director Indemnification Agreement [VC Director]
	 	Page 2

 

 

Company, other than Indemnitee, who are jointly liable with Indemnitee (or would be if joined
in such action, suit or proceeding), on the one hand, and Indemnitee, on the other hand, from the
transaction from which such action, suit or proceeding arose; provided, however, that the
proportion determined on the basis of relative benefit may, to the extent necessary to conform to
law, be further adjusted by reference to the relative fault of the Company and all officers,
directors or employees of the Company other than Indemnitee who are jointly liable with Indemnitee
(or would be if joined in such action, suit or proceeding), on the one hand, and Indemnitee, on the
other hand, in connection with the events that resulted in such expenses, judgments, fines or
settlement amounts, as well as any other equitable considerations which the Law may require to be
considered. The relative fault of the Company and all officers, directors or employees of the
Company, other than Indemnitee, who are jointly liable with Indemnitee (or would be if joined in
such action, suit or proceeding), on the one hand, and Indemnitee, on the other hand, shall be
determined by reference to, among other things, the degree to which their actions were motivated by
intent to gain personal profit or advantage, the degree to which their liability is primary or
secondary and the degree to which their conduct is active or passive.

               (c) The Company hereby agrees to fully indemnify and hold Indemnitee harmless from any claims
of contribution which may be brought by officers, directors or employees of the Company, other than
Indemnitee, who may be jointly liable with Indemnitee.

               (d) To the fullest extent permissible under applicable law, if the indemnification provided
for in this Agreement is unavailable to Indemnitee for any reason whatsoever, the Company, in lieu
of indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee, whether for
judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or for
Expenses, in connection with any claim relating to an indemnifiable event under this Agreement, in
such proportion as is deemed fair and reasonable in light of all of the circumstances of such
Proceeding in order to reflect (i) the relative benefits received by the Company and Indemnitee as
a result of the event(s) and/or transaction(s) giving cause to such Proceeding; and/or (ii) the
relative fault of the Company (and its directors, officers, employees and agents) and Indemnitee in
connection with such event(s) and/or transaction(s).

          4. Indemnification for Expenses of a Witness. Notwithstanding any other provision of
this Agreement, to the extent that Indemnitee is, by reason of his or her Corporate Status, a
witness, or is made (or asked to) respond to discovery requests, in any Proceeding to which
Indemnitee is not a party, Indemnitee shall be indemnified against all Expenses actually and
reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection therewith.

          5. Advancement of Expenses. Notwithstanding any other provision of this Agreement,
the Company shall advance all Expenses incurred by or on behalf of Indemnitee in connection with
any Proceeding by reason of Indemnitee’s Corporate Status within thirty (30) days after the receipt
by the Company of a statement or statements from Indemnitee requesting such advance or advances
from time to time, whether prior to or after final disposition of such Proceeding. Such statement
or statements shall reasonably evidence the Expenses incurred by Indemnitee and shall include or be
preceded or accompanied by a written undertaking by or on behalf of Indemnitee to repay any
Expenses advanced if it shall ultimately be determined that Indemnitee is not entitled to be
indemnified against such Expenses. Any advances and undertakings to repay pursuant to this
Section 5 shall be unsecured and interest free.

          6. Procedures and Presumptions for Determination of Entitlement to Indemnification.
It is the intent of this Agreement to secure for Indemnitee rights of indemnity that are as
favorable as may be permitted under the DGCL and public policy of the State of Delaware.
Accordingly, the parties agree that the following procedures and presumptions shall apply in the
event of any question as to whether Indemnitee is entitled to indemnification under this Agreement:

               (a) To obtain indemnification under this Agreement, Indemnitee shall submit to the Company a
written request, including therein or therewith such documentation and information as is reasonably
available to Indemnitee and is reasonably necessary to determine whether

			
	 	 	 
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and to what extent Indemnitee is entitled to indemnification. The Secretary of the Company
shall, promptly upon receipt of such a request for indemnification, advise the Board of Directors
in writing that Indemnitee has requested indemnification. Notwithstanding the foregoing, any
failure of Indemnitee to provide such a request to the Company, or to provide such a request in a
timely fashion, shall not relieve the Company of any liability that it may have to Indemnitee
unless, and to the extent that, such failure actually and materially prejudices the interests of
the Company.

               (b) Upon written request by Indemnitee for indemnification pursuant to the first sentence of
Section 6(a) hereof, a determination with respect to Indemnitee’s entitlement thereto shall
be made in the specific case by one of the following four methods, which shall be at the election
of the board: (1) by a majority vote of the disinterested directors, even though less than a
quorum, (2) by a committee of disinterested directors designated by a majority vote of the
disinterested directors, even though less than a quorum, (3) if there are no disinterested
directors or if the disinterested directors so direct, by independent legal counsel in a written
opinion to the Board of Directors, a copy of which shall be delivered to the Indemnitee, or (4) if
so directed by the Board of Directors, by the stockholders of the Company. For purposes hereof,
disinterested directors are those members of the board of directors of the Company who are not
parties to the action, suit or proceeding in respect of which indemnification is sought by
Indemnitee.

               (c) If the determination of entitlement to indemnification is to be made by Independent
Counsel pursuant to Section 6(b) hereof, the Independent Counsel shall be selected as
provided in this Section 6(c). The Independent Counsel shall be selected by the Board of
Directors and Indemnitee shall be promptly notified of such selection. Indemnitee may, within ten
(10) days after such written notice of selection shall have been given, deliver to the Company a
written objection to such selection; provided, however, that such objection may be asserted only on
the ground that the Independent Counsel so selected does not meet the requirements of “Independent
Counsel” as defined in Section 13 of this Agreement, and the objection shall set forth with
particularity the factual basis of such assertion. Absent a proper and timely objection, the
person so selected shall act as Independent Counsel. If a written objection is made and
substantiated, the Independent Counsel selected may not serve as Independent Counsel unless and
until such objection is withdrawn or a court has determined that such objection is without merit.
If, within 20 days after submission by Indemnitee of a written request for indemnification pursuant
to Section 6(a) hereof, no Independent Counsel shall have been selected and not objected
to, either the Company or Indemnitee may petition the Court of Chancery of the State of Delaware or
other court of competent jurisdiction for resolution of any objection which shall have been made by
the Indemnitee to the Company’s selection of Independent Counsel and/or for the appointment as
Independent Counsel of a person selected by the court or by such other person as the court shall
designate, and the person with respect to whom all objections are so resolved or the person so
appointed shall act as Independent Counsel under Section 6(b) hereof. The Company shall
pay any and all reasonable fees and expenses of Independent Counsel incurred by such Independent
Counsel in connection with acting pursuant to Section 6(b) hereof, and the Company shall
pay all reasonable fees and expenses incident to the procedures of this Section 6(c),
regardless of the manner in which such Independent Counsel was selected or appointed.

               (d) In making a determination with respect to entitlement to indemnification hereunder, the
person or persons or entity making such determination shall presume that Indemnitee is entitled to
indemnification under this Agreement. Anyone seeking to overcome this presumption shall have the
burden of proof and the burden of persuasion by clear and convincing evidence. Neither the failure
of the Company (including by its directors or independent legal counsel) to have made a
determination prior to the commencement of any action pursuant to this Agreement that
indemnification is proper in the circumstances because Indemnitee has met the applicable standard
of conduct, nor an actual determination by the Company (including by its directors or independent
legal counsel) that Indemnitee has not met such applicable standard of conduct, shall be a defense
to the action or create a presumption that Indemnitee has not met the applicable standard of
conduct.

			
	 	 	 
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               (e) Indemnitee shall be deemed to have acted in good faith if Indemnitee’s action is based on
the records or books of account of the Enterprise, including financial statements, or on
information supplied to Indemnitee by the officers of the Enterprise (as hereinafter defined) in
the course of their duties, or on the advice of legal counsel for the Enterprise or on information
or records given or reports made to the Enterprise by an independent certified public accountant or
by an appraiser or other expert selected with reasonable care by the Enterprise. In addition, the
knowledge and/or actions, or failure to act, of any director, officer, agent or employee of the
Enterprise shall not be imputed to Indemnitee for purposes of determining the right to
indemnification under this Agreement. Whether or not the foregoing provisions of this Section
6(e) are satisfied, it shall in any event be presumed that Indemnitee has at all times acted in
good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best
interests of the Company. Anyone seeking to overcome this presumption shall have the burden of
proof and the burden of persuasion by clear and convincing evidence.

               (f) If the person, persons or entity empowered or selected under Section 6 to
determine whether Indemnitee is entitled to indemnification shall not have made a determination
within sixty (60) days after receipt by the Company of the request therefor, the requisite
determination of entitlement to indemnification shall be deemed to have been made and Indemnitee
shall be entitled to such indemnification absent (i) a misstatement by Indemnitee of a material
fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially
misleading, in connection with the request for indemnification, or (ii) a prohibition of such
indemnification under applicable law; provided, however, that such 60-day period may be extended
for a reasonable time, not to exceed an additional thirty (30) days, if the person, persons or
entity making such determination with respect to entitlement to indemnification in good faith
requires such additional time to obtain or evaluate documentation and/or information relating
thereto; and provided, further, that the foregoing provisions of this Section 6(f) shall
not apply if the determination of entitlement to indemnification is to be made by the stockholders
pursuant to Section 6(b) of this Agreement and if (A) within fifteen (15) days after
receipt by the Company of the request for such determination, the Board of Directors or the
Disinterested Directors, if appropriate, resolve to submit such determination to the stockholders
for their consideration at an annual meeting thereof to be held within seventy-five (75) days after
such receipt and such determination is made thereat, or (B) a special meeting of stockholders is
called within fifteen (15) days after such receipt for the purpose of making such determination,
such meeting is held for such purpose within sixty (60) days after having been so called and such
determination is made thereat.

               (g) Indemnitee shall cooperate with the person, persons or entity making such determination
with respect to Indemnitee’s entitlement to indemnification, including providing to such person,
persons or entity upon reasonable advance request any documentation or information which is not
privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee
and reasonably necessary to such determination. Any Independent Counsel, member of the Board of
Directors or stockholder of the Company shall act reasonably and in good faith in making a
determination regarding the Indemnitee’s entitlement to indemnification under this Agreement. Any
costs or expenses (including attorneys’ fees and disbursements) incurred by Indemnitee in so
cooperating with the person, persons or entity making such determination shall be borne by the
Company (irrespective of the determination as to Indemnitee’s entitlement to indemnification) and
the Company hereby indemnifies and agrees to hold Indemnitee harmless therefrom.

               (h) The Company acknowledges that a settlement or other disposition short of final judgment
may be successful if it permits a party to avoid expense, delay, distraction, disruption and
uncertainty. In the event that any action, claim or proceeding to which Indemnitee is a party is
resolved in any manner other than by adverse judgment against Indemnitee (including, without
limitation, settlement of such action, claim or proceeding with or without payment of money or
other consideration) it shall be presumed that Indemnitee has been successful on the merits or
otherwise in such action, suit or proceeding. Anyone seeking to overcome this presumption shall
have the burden of proof and the burden of persuasion by clear and convincing evidence.

			
	 	 	 
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	 	Page 5

 

 

               (i) The termination of any Proceeding or of any claim, issue or matter therein, by judgment,
order, settlement or conviction, or upon a plea of nolo contendere or its equivalent, shall not
(except as otherwise expressly provided in this Agreement) of itself adversely affect the right of
Indemnitee to indemnification or create a presumption that 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 or, with respect to any criminal Proceeding, that Indemnitee had reasonable cause to
believe that his or her conduct was unlawful.

          7. Remedies of Indemnitee.

               (a) In the event that (i) a determination is made pursuant to Section 6 of this
Agreement that Indemnitee is not entitled to indemnification under this Agreement, (ii) advancement
of Expenses is not timely made pursuant to Section 5 of this Agreement, (iii) no
determination of entitlement to indemnification is made pursuant to Section 6(b) of this
Agreement within 90 days after receipt by the Company of the request for indemnification, (iv)
payment of indemnification is not made pursuant to this Agreement within ten (10) days after
receipt by the Company of a written request therefor or (v) payment of indemnification is not made
within ten (10) days after a determination has been made that Indemnitee is entitled to
indemnification or such determination is deemed to have been made pursuant to Section 6 of
this Agreement, Indemnitee shall be entitled to an adjudication in an appropriate court of the
State of Delaware, or in any other court of competent jurisdiction, of Indemnitee’s entitlement to
such indemnification. Indemnitee shall commence such proceeding seeking an adjudication within 180
days following the date on which Indemnitee first has the right to commence such proceeding
pursuant to this Section 7(a). The Company shall not oppose Indemnitee’s right to seek any
such adjudication.

               (b) In the event that a determination shall have been made pursuant to Section 6(b) of
this Agreement that Indemnitee is not entitled to indemnification, any judicial proceeding
commenced pursuant to this Section 7 shall be conducted in all respects as a de novo trial
on the merits, and Indemnitee shall not be prejudiced by reason of the adverse determination under
Section 6(b).

               (c) If a determination shall have been made pursuant to Section 6(b) of this Agreement
that Indemnitee is entitled to indemnification, the Company shall be bound by such determination in
any judicial proceeding commenced pursuant to this Section 7, absent (i) a misstatement by
Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s
misstatement not materially misleading in connection with the application for indemnification, or
(ii) a prohibition of such indemnification under applicable law.

               (d) In the event that Indemnitee, pursuant to this Section 7, seeks a judicial
adjudication of Indemnitee’s rights under, or to recover damages for breach of, this Agreement, or
to recover under any directors’ and officers’ liability insurance policies maintained by the
Company, the Company shall pay on Indemnitee’s behalf, in advance, any and all expenses (of the
types described in the definition of Expenses in Section 13 of this Agreement) actually and
reasonably incurred by Indemnitee in such judicial adjudication, regardless of whether Indemnitee
ultimately is determined to be entitled to such indemnification, advancement of expenses or
insurance recovery.

               (e) The Company shall be precluded from asserting in any judicial proceeding commenced
pursuant to this Section 7 that the procedures and presumptions of this Agreement are not
valid, binding and enforceable and shall stipulate in any such court that the Company is bound by
all the provisions of this Agreement. The Company shall indemnify Indemnitee against any and all
Expenses and, if requested by Indemnitee, shall (within ten (10) days after receipt by the Company
of a written request therefore) advance, to the extent not prohibited by law, such expenses to
Indemnitee, which are incurred by Indemnitee in connection with any action brought by Indemnitee
for indemnification or advance of Expenses from the Company under this Agreement or under any
directors’ and officers’ liability insurance policies maintained by the Company, regardless of
whether Indemnitee ultimately is determined to be entitled to such indemnification, advancement of
Expenses or insurance recovery, as the case may be.

			
	 	 	 
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	 	Page 6

 

 

               (f) Notwithstanding anything in this Agreement to the contrary, no determination as to
entitlement to indemnification under this Agreement shall be required to be made prior to the final
disposition of the Proceeding.

          8. Non-Exclusivity; Survival of Rights; Insurance; Primacy of Indemnification;
Subrogation.

               (a) The rights of indemnification as provided by this Agreement shall not be deemed exclusive
of any other rights to which Indemnitee may at any time be entitled under applicable law, the
Charter Documents, any agreement, a vote of stockholders, a resolution of directors or otherwise,
of the Company. No amendment, alteration or repeal of this Agreement or of any provision hereof
shall limit or restrict any right of Indemnitee under this Agreement in respect of any action taken
or omitted by such Indemnitee in his or her Corporate Status prior to such amendment, alteration or
repeal. To the extent that a change in the DGCL, whether by statute or judicial decision, permits
greater indemnification than would be afforded currently under the Certificate of Incorporation,
By-laws and this Agreement, it is the intent of the parties hereto that Indemnitee shall enjoy by
this Agreement the greater benefits so afforded by such change. No right or remedy herein
conferred is intended to be exclusive of any other right or remedy, and every other right and
remedy shall be cumulative and in addition to every other right and remedy given hereunder or now
or hereafter existing at law or in equity or otherwise. The assertion or employment of any right
or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any
other right or remedy.

               (b) To the extent that the Company maintains an insurance policy or policies providing
liability insurance for directors, officers, employees, or agents or fiduciaries of the Company or
of any other corporation, partnership, joint venture, trust, employee benefit plan or other
enterprise that such person serves at the request of the Company, Indemnitee shall be covered by
such policy or policies in accordance with its or their terms to the maximum extent of the coverage
available for any director, officer, employee, agent or fiduciary under such policy or policies.
If, at the time of the receipt of a notice of a claim pursuant to the terms hereof, the Company has
director and officer liability insurance 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 the Indemnitee, all amounts payable as a result of such
proceeding in accordance with the terms of such policies.

               (c) The Company hereby acknowledges that Indemnitee has certain rights to indemnification,
advancement of expenses and/or insurance provided by the Sponsor and certain of its affiliates
(collectively, the “Sponsor Indemnitors”). The Company hereby agrees (i) that it is the indemnitor
of first resort (i.e., its obligations to Indemnitee are primary and any obligation of the Sponsor
Indemnitors to advance expenses or to provide indemnification for the same expenses or liabilities
incurred by Indemnitee are secondary), (ii) that it shall be required to advance the full amount of
expenses incurred by Indemnitee and shall be liable for the full amount of all Expenses, judgments,
penalties, fines and amounts paid in settlement to the extent legally permitted and as required by
the terms of this Agreement and the Charter Documents of the Company (or any other agreement
between the Company and Indemnitee), without regard to any rights Indemnitee may have against the
Sponsor Indemnitors, and, (iii) that it irrevocably waives, relinquishes and releases the Sponsor
Indemnitors from any and all claims against the Sponsor Indemnitors for contribution, subrogation
or any other recovery of any kind in respect thereof. The Company further agrees that (i) no
advancement or payment by the Sponsor Indemnitors on behalf of Indemnitee with respect to any claim
for which Indemnitee has sought indemnification from the Company shall affect the foregoing, (ii)
the Company will immediately reimburse the Sponsor Indemnitors for any such advancement of their
own funds to Indemnitee, or payment to Indemnitee by way of indemnification made by Sponsor
Indemnitors to Indemnitee for which Indemnitee would be entitled to indemnity (including
advancement of Expenses) under this Agreement, and (iii) the Sponsor Indemnitors shall have a right
of contribution and/or be subrogated to the extent of such advancement or payment to all of the
rights of recovery of Indemnitee against the Company. The Company and Indemnitee agree that the
Sponsor Indemnitors are express third party beneficiaries of the terms of this

			
	 	 	 
	SPS Commerce, Inc. Form of Director Indemnification Agreement [VC Director]
	 	Page 7

 

 

Section 8(c).

               (d) Except as provided in paragraph (c) above, in the event of any payment under this
Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of
recovery of Indemnitee (other than against the Sponsor Indemnitors), who shall execute all papers
required and take all action necessary to secure such rights, including execution of such documents
as are necessary to enable the Company to bring suit to enforce such rights.

               (e) Except as provided in paragraph (c) above, the Company shall not be liable under this
Agreement to make any payment of amounts otherwise indemnifiable hereunder if and to the extent
that Indemnitee has otherwise actually received such payment under any insurance policy, contract,
agreement or otherwise.

               (f) Except as provided in paragraph (c) above, the Company’s obligation to indemnify or
advance Expenses hereunder to Indemnitee who is or was serving at the request of the Company as a
director, officer, employee or agent of any other corporation, partnership, joint venture, trust,
employee benefit plan or other enterprise shall be reduced by any amount Indemnitee has actually
received as indemnification or advancement of expenses from such other corporation, partnership,
joint venture, trust, employee benefit plan or other enterprise.

          9. Exception to Right of Indemnification. Notwithstanding any provision in this
Agreement, the Company shall not be obligated under this Agreement to make any indemnity in
connection with any claim made against Indemnitee:

               (a) for which payment has actually been made to or on behalf of Indemnitee under any insurance
policy or other indemnity provision, except with respect to any excess beyond the amount paid under
any insurance policy or other indemnity provision, provided, that the foregoing shall not affect
the rights of Indemnitee or the Sponsor Indemnitors set forth in Section 8(c) above; or

               (b) for an accounting of profits made from the purchase and sale (or sale and purchase) by
Indemnitee of securities of the Company within the meaning of Section 16(b) of the
Securities Exchange Act of 1934, as amended, or similar provisions of state statutory law or common
law; or

               (c) except with respect to a Proceeding relating to enforcement of, or to indemnity under this
Agreement, or under the Charter Documents, the DGCL, or any insurance policy relating to
Indemnitee’s Corporate Status, in connection with any Proceeding (or any part of any Proceeding)
initiated by Indemnitee, including any Proceeding (or any part of any Proceeding) initiated by
Indemnitee against the Company or its directors, officers, employees or other indemnitees, unless
(i) the Board of Directors of the Company authorized the Proceeding (or any part of any Proceeding)
prior to its initiation or (ii) the Company provides the indemnification, in its sole discretion,
pursuant to the powers vested in the Company under applicable law.

          10. Duration of Agreement. All agreements and obligations of the Company contained
herein shall commence upon the execution of this Agreement, and shall continue thereafter so long
as Indemnitee could be subject to any Proceeding (or any proceeding commenced under Section
7 hereof) by reason of Indemnitee’s Corporate Status, whether or not Indemnitee is acting or
serving in any such capacity at the time any liability or expense is incurred for which
indemnification can be provided under this Agreement and regardless of any subsequent amendment to
the Charter Documents, the DGCL or any other agreement relating to indemnification of Indemnitee.
This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties
hereto and their respective successors (including any direct or indirect successor by purchase,
merger, consolidation or otherwise to all or substantially all of the business or assets of the
Company), assigns, spouses, heirs, executors and personal and legal representatives.

          11. Security. To the extent requested by Indemnitee and approved by the Board of
Directors of the Company, the Company may at any time and from time to time provide security to

			
	 	 	 
	SPS Commerce, Inc. Form of Director Indemnification Agreement [VC Director]
	 	Page 8

 

 

Indemnitee for the Company’s obligations hereunder through an irrevocable bank line of credit,
funded trust or other collateral. Any such security, once provided to Indemnitee, may not be
revoked or released without the prior written consent of the Indemnitee.

          12. Enforcement.

               (a) The Company expressly confirms and agrees that it has entered into this Agreement and
assumes the obligations imposed on it hereby in order to induce Indemnitee to serve as an officer
or director of the Company, and the Company acknowledges that Indemnitee is relying upon this
Agreement in serving as an officer or director of the Company.

               (b) This Agreement constitutes the entire agreement between the parties hereto with respect to
the subject matter hereof and supersedes all prior agreements and understandings, oral, written and
implied, between the parties hereto with respect to the subject matter hereof.

     13. Definitions. For purposes of this Agreement:

               (a) “Corporate Status” describes the status of a person who is or was a director of the
Company in his or her official capacity as such or as agent or fiduciary of the Company related to
such status as a director (but not as an officer or employee), or as a director, agent or fiduciary
of any other corporation, partnership, joint venture, trust, employee benefit plan or other
enterprise that such person is or was serving at the express written request of the Company.

               (b) “Disinterested Director” means a director of the Company who is not and was not a party to
the Proceeding in respect of which indemnification is sought by Indemnitee.

               (c) “Enterprise” shall mean the Company and any other corporation, partnership, joint venture,
trust, employee benefit plan or other enterprise that Indemnitee is or was serving at the express
written request of the Company as a director, officer, employee, agent or fiduciary.

               (d) “Expenses” shall include all reasonable attorneys’ fees, retainers, court costs,
transcript costs, fees of experts, witness fees, 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, participating, or being or preparing to be a witness in a
Proceeding, or responding to, or objecting to, a request to provide discovery in any Proceeding.
Expenses also shall include Expenses incurred in connection with any appeal resulting from any
Proceeding and any federal, state, local or foreign taxes imposed on the Indemnitee as a result of
the actual or deemed receipt of any payments under this Agreement, including without limitation the
premium, security for, and other costs relating to any cost bond, supersede as bond, or other
appeal bond or its equivalent. Expenses, however, shall not include amounts paid in settlement by
Indemnitee or the amount of judgments or fines against Indemnitee.

               (e) “Independent Counsel” means a law firm, or a member of a law firm, that is experienced in
matters of corporation law and neither presently is, nor in the past five (5) years has been,
retained to represent: (i) the Company or Indemnitee in any matter material to either such party
(other than with respect to matters concerning Indemnitee under this Agreement, or of other
indemnitees under similar indemnification agreements), or (ii) any other party to the Proceeding
giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term
“Independent Counsel” shall not include any person who, under the applicable standards of
professional conduct then prevailing, would have a conflict of interest in representing either the
Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement. The
Company agrees to pay the reasonable fees of the Independent Counsel referred to above and to fully
indemnify such counsel against any and all Expenses, claims, liabilities and damages arising out of
or relating to this Agreement or its engagement pursuant hereto.

               (f) “Proceeding” includes any threatened, pending or completed action, suit, arbitration,
alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or

			
	 	 	 
	SPS Commerce, Inc. Form of Director Indemnification Agreement [VC Director]
	 	Page 9

 

 

any other actual, threatened or completed proceeding, whether brought by or in the right of
the Company or otherwise and whether civil, criminal, administrative or investigative, in which
Indemnitee was, is or will be involved as a party or otherwise, by reason of the fact that
Indemnitee is or was an officer or director of the Company, by reason of any action taken by
Indemnitee or of any inaction on Indemnitee’s part while acting as an officer or director 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, agent or fiduciary of another corporation, partnership, joint
venture, trust or other Enterprise; in each case whether or not Indemnitee is acting or serving in
any such capacity at the time any liability or expense is incurred for which indemnification can be
provided under this Agreement; including one pending on or before the date of this Agreement, but
excluding one initiated by an Indemnitee pursuant to Section 7 of this Agreement to enforce
Indemnitee’s rights under this Agreement.

          14. Severability. The invalidity or unenforceability of any provision hereof shall in
no way affect the validity or enforceability of any other provision. Without limiting the
generality of the foregoing, this Agreement is intended to confer upon Indemnitee indemnification
rights to the fullest extent permitted by applicable laws and to ensure that indemnification rights
provided by the Sponsor are secondary to the primary obligation of the Company to indemnify
Indemnitee as provided in this Agreement. In the event any provision hereof conflicts with any
applicable law, such provision shall be deemed modified, consistent with the aforementioned intent,
to the extent necessary to resolve such conflict.

          15. Modification and Waiver. No supplement, modification, termination or amendment of
this Agreement shall be binding unless executed in writing by both of the parties hereto. No
waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of
any other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing
waiver.

          16. Notice By Indemnitee. Indemnitee agrees promptly to notify the Company in writing
upon being served with or otherwise receiving any summons, citation, subpoena, complaint,
indictment, information or other document relating to any Proceeding or matter which may be subject
to indemnification covered hereunder. The failure to so notify the Company shall not relieve the
Company of any obligation which it may have to Indemnitee under this Agreement or otherwise unless
and only to the extent that such failure or delay materially prejudices the Company.

          17. Notices. All notices and other communications given or made pursuant to this
Agreement shall be in writing and shall be deemed effectively given: (a) upon personal delivery to
the party to be notified, (b) when sent by confirmed electronic mail or facsimile if sent during
normal business hours of the recipient, and if not so confirmed, then on the next business day, (c)
five (5) days after having been sent by registered or certified mail, return receipt requested,
postage prepaid, or (d) one (1) day after deposit with a nationally recognized overnight courier,
specifying next day delivery, with written verification of receipt. All communications shall be
sent:

               (a) To Indemnitee at the address set forth below Indemnitee signature hereto.

               (b) To the Company at:

SPS Commerce, Inc.

Attention: Chief Executive Officer

Accenture Tower

333 South Seventh Street, Suite 1000

Minneapolis, MN 55402

Fax: 612-435-9402

or to such other address as may have been furnished to Indemnitee by the Company or to the Company
by Indemnitee, as the case may be.

			
	 	 	 
	SPS Commerce, Inc. Form of Director Indemnification Agreement [VC Director]
	 	Page 10

 

 

          18. Counterparts. This Agreement may be executed in two (2) or more counterparts,
each of which shall be deemed an original, but all of which together shall constitute one and the
same Agreement. This Agreement may also be executed and delivered by facsimile signature and in
two or more counterparts, each of which shall be deemed an original, but all of which together
shall constitute one and the same instrument.

          19. Headings. The headings of the paragraphs of this Agreement are inserted for
convenience only and shall not be deemed to constitute part of this Agreement or to affect the
construction thereof.

          20. Governing Law and Consent to Jurisdiction. This Agreement and the legal relations
among the parties shall be governed by, and construed and enforced in accordance with, the laws of
the State of Delaware, without regard to its conflict of laws rules. The Company and Indemnitee
hereby irrevocably and unconditionally (i) agree that any action or proceeding arising out of or in
connection with this Agreement shall be brought only in the Chancery Court of the State of Delaware
(the “Delaware Court”), and not in any other state or federal court in the United States of America
or any court in any other country, (ii) consent to submit to the exclusive jurisdiction of the
Delaware Court for purposes of any action or proceeding arising out of or in connection with this
Agreement, (iii) waive any objection to the laying of venue of any such action or proceeding in the
Delaware Court, and (iv) waive, and agree not to plead or to make, any claim that any such action
or proceeding brought in the Delaware Court has been brought in an improper or inconvenient forum.

          21. Amendment and Restatement of Prior Agreements. The parties hereby agree that this
Agreement supersedes any prior indemnification agreement between the parties in its entirety and
this Agreement is hereby determined to amend and restate such prior agreements, if any.

SIGNATURE PAGE TO FOLLOW

			
	 	 	 
	SPS Commerce, Inc. Form of Director Indemnification Agreement [VC Director]
	 	Page 11

 

 

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement on and as of the day and
year first above written.

	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	COMPANY	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Archie C. Black	 	 
	 

	 	 	 	Chief Executive Officer	 	 
	 
	 	 	 	 	 	 
	 	 	INDEMNITEE	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	Name:	 	 
	 
	 	 	 	 	 	 
	 	 	Address:	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 

			
	 	 	 
	SPS Commerce, Inc. Form of Director Indemnification Agreement [VC Director]
	 	Signature Page

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