Document:

AMENDMENT #6 TO CREDIT AGREEMENT

 EXHIBIT 10.14 
  
 AMENDMENT SIX TO CREDIT AGREEMENT 
  
 This Amendment Six to Credit Agreement (“Amendment”) is dated as of August 5, 2004 (“Effective Date”),
among MATRIX SERVICE COMPANY, as Borrower, the Lenders and BANK ONE, NA (as successor by merger to Bank One, Oklahoma, NA), with its main office in Chicago, Illinois, as a Lender, LC Issuer and as Agent for the Lenders. 
  
 RECITALS 
  
 A. Reference is made to the Credit Agreement dated as of March 7, 2003, among Borrower, Lenders and Agent, as amended by
Amendment One to Credit Agreement dated as of May 22, 2003, Amendment Two to Credit Agreement dated as of August 27, 2003, Amendment Three to Credit Agreement dated as of December 19, 2003, Amendment Four to Credit Agreement dated as of March 11,
2004, and Amendment Five to Credit Agreement dated as of May 6, 2004 (as amended, the “Credit Agreement”) pursuant to which each of the Lenders established their respective Commitments in favor of the Borrower. 
  
 B. Borrower has requested the Lenders to make certain modifications to the
Credit Agreement; and the Lenders and Agent have agreed thereto, as specifically set forth below. 
  
 C. Terms used herein shall have the meanings ascribed to them in the Credit Agreement, unless otherwise defined herein. 
  
 AGREEMENT 
  
 1. Amendment to Credit Agreement. 
  
 1.1. The pricing grid set forth in the Pricing Schedule is hereby replaced with the following: 
  
 “ 
  

											
	 	 	APPLICABLE MARGIN (BPS)

	 	LETTERS
OF CREDIT
FEE (bps)

	 	COMMITMENT
FEE (bps)

	LEVERAGE
RATIO

	 	EURODOLLAR
LOANS* (+)

	 	 ABR
 LOANS* (+)

	 	SWING LINE
LOANS (+)

	 	 
	£ 3.50x	 	325.0	 	100.0	 	100.0	 	325.0	 	62.5
	£ 3.25x	 	300.0	 	  75.0	 	  75.0	 	300.0	 	62.5
	£ 3.00x	 	275.0	 	  50.0	 	  50.0	 	275.0	 	62.5
	£ 2.75x	 	250.0	 	  25.0	 	  25.0	 	250.0	 	62.5
	£ 2.50x	 	225.0	 	  00.0	 	  00.0	 	225.0	 	50.0
	£ 2.00x	 	200.0	 	-25.0	 	-25.0	 	200.0	 	37.5
	£ 1.50x	 	175.0	 	-50.0	 	-50.0	 	175.0	 	32.5

  

	*	Term Loan pricing shall be 25.0 bps higher” 

 1.2. New Definitions. The following definitions are hereby added: 
  
 “Term Loan B” means the Loans made by each of the Lenders based
upon their respective Term Loan B Commitment, advanced in accordance with the provisions of Section 2.1.4, below. 
  
 “Term Loan B Commitment” means, as to each Lender, the amount designated as such opposite its signature below. 
  
 1.3. Loan. The term “Loan” is hereby amended to read as
follows: 
  
 “Loan” means a Term Loan, a Term Loan B, a
Revolving Loan or a Swing Line Loan.” 
  
 1.4. Revolving
Credit Commitment. Section 2.1.1 is hereby amended to add the following sentence to the end thereof: 
  
 “Notwithstanding anything to the contrary herein, the aggregate Revolving Credit Commitment is hereby permanently reduced by the aggregate principal
amount of Term Loan B; provided, that upon the full and complete payment of Term Loan B, together with all fees and expenses payable thereon, the original Revolving Credit Commitment shall be reinstated, to the extent of one-half (1/2) of
alternative capital (including equity or the principal amount of subordinated unsecured Debt in each case on such terms as is approved by the Required Lenders and which has been received in cash by the borrower) not to exceed $55,000,000.”

  
 1.5. Term Loan B Facility. The following new Section
2.1.4 is hereby added to the Credit Agreement: 
  
 “2.1.4 Term Loan B
Facility. Upon the Effective Date in accordance with section 2.1 as amended, the aggregate sum of $20,000,000 of the Revolving Loans then outstanding shall be restructured and become Term Loan B with respect to each Lender based upon their
respective Term Loan B Commitment, for which respective Notes shall be executed and delivered by Borrower to each Lender. Term Loan B shall be excluded from the calculation of the Leverage Ratio (Senior Debt) set forth in Section 6.27.4, but it
shall be included in the calculation of the Leverage Ratio (Total Debt) set forth in Section 6.27.2. Further, the principal of Term Loan B shall be excluded from the calculation of the Fixed Charge Coverage Ratio set forth in Section 6.27.1 through
August 31, 2005, but shall be included thereafter to the extent it has not been fully paid. 
  
 The Term Loan B shall be payable as follows: accrued and unpaid interest shall be payable on each Payment Date, commencing August 31, 2004; and principal shall be payable in full on August 31, 2005. Interest shall
accrue at a rate equal to the Eurodollar Base Rate plus three hundred twenty-five (325) basis points until November 30, 2004; whereupon, the interest rate shall increase to eighteen percent (18%) per annum fixed, and further increase by three
hundred (300) basis points on the last day of each fiscal quarter thereafter, commencing February 28, 2005, until the Term Loan B has been fully paid.” 
  

 2 

 1.6. Prepayment. Section 2.7.2 is hereby amended to evidence that following the phrases
“prepayment of Term Loans” in subsections (i) and (ii) and “prepayment of the Term Loan” in subsection (iii), the phrase “(and after payment thereof in full, to the prepayment of the Term Loan B)” is hereby added.

  
 1.7. Financial and Other Reporting. Section 6.1 is
hereby amended as follows: 
  
 1.7.1. Subsection
(xi) is hereby added to read in full as follows: 
  
 “(xi)
within twenty (20) days after the end of each calendar month through the Borrower’s second fiscal quarter ending November 30, 2005 a certification from the chief financial officer of the Borrower: (a) containing comments regarding any Accounts
in arrears of $1,000,000 that are ninety (90) days or more past due as of the end of such calendar month; and (b) comparing the Borrower’s cash budget for the sixteen (16) week period ending with such month to its actual results for such
period.” 
  
 1.7.2. Subsection (xiii) is
hereby amended to delete “thirty (30)” therefrom and replace it with “twenty (20).” 
  
 1.8. Dividends. Section 6.10 is hereby amended: (i) to delete the parenthetical “(other than dividends payable in its own common stock)”
and replace it with “(other than dividends payable in its own common stock and dividends and distributions by a Subsidiary to the Borrower”); and (ii) to evidence that the following sentence is hereby added to the end thereof: 

 
 “Notwithstanding the foregoing, in the event the Leverage Ratio
(Total Debt), as calculated under Section 6.27.2, is 2.50 or greater, neither Borrower nor any Subsidiary shall declare or pay any dividends or make any distributions on its capital stock (other than dividends payable in its own capital stock and
dividends and distributions by a Subsidiary to the Borrower) or redeem, repurchase or otherwise acquire or retire any of its capital stock, including treasury stock (other than the issuance of treasury stock upon the exercise of employee, officer or
director stock options).” 
  
 1.9. Investments and
Acquisitions. Section 6.14 is hereby amended to the extent that subsection (iii) thereof is deleted and replaced with the following: 
  
 “(iii) Acquisitions shall be permitted only with the express prior written consent of the Required Lenders.” 
  
 1.10. Fixed Charge Coverage Ratio. Section 6.27.1 is hereby amended to
evidence that the phrase “1.40 to 1.0 through February 28, 2005, and thereafter 1.50 to 1.0” is hereby deleted and replaced with “1.15 to 1.0 through August 31, 2004; thereafter 1.25 to 1.0 through May 31, 2005; and thereafter, 1.50
to 1.0.” 
  
 1.11. Section 6.27.2 is hereby deleted and
replaced with the following: 
  

 3 

 “6.27.2. Leverage Ratio (Total Debt). The Borrower will not permit the ratio, determined as
of the end of each of its fiscal quarters commencing the first fiscal quarter ending August 31, 2004, of (i) Consolidated Funded Indebtedness (including without limitation the face value of any deferred purchase price or holdback in connection with
the acquisition of the Hake Group, but excluding issued but unfunded Letters of Credit or outstanding but unfunded payment and performance bonds), to (ii) Consolidated EBITDA, to be greater than 3.25 to 1.0 through the first fiscal quarter ending
August 31, 2004, and thereafter 3.50 to 1.0.” 
  
 1.12.
Minimum Net Worth. Section 6.27.3 is hereby deleted and replaced with the following: 
  
 “6.27.3 Minimum Net Worth. The Borrower will at all times maintain a Consolidated Net Worth of not less than $60,000,000 plus fifty percent (50%) of quarterly positive net income on a
cumulative basis; provided that commencing August 31, 2004 and thereafter, the Borrower will at all times maintain a Consolidated Net Worth of not less than $75,000,000 plus one hundred percent (100%) of quarterly positive net income
less distributions for dividends or treasury stock purchases on a quarterly basis.” 
  
 1.13. Leverage Ratio. A new Section 6.27.4 is hereby added, as follows: 
  
 “6.27.4. Leverage Ratio (Senior Debt). The Borrower will not permit the ratio, determined as of the end of each
of its fiscal quarters, of (i) Consolidated Senior Indebtedness, to (ii) Consolidated EBITDA, to be greater than (a) 3.25 to 1.0 through August 31, 2004; and (b) thereafter, 2.25 to 1.0. For purposes hereof, the term Consolidated Senior Indebtedness
means the sum of (i) the outstanding principal amount of the Term Loan, plus (ii) the outstanding principal amount of the Revolving Loan plus, (iii) the outstanding principal amount of the Swing Loan, plus
(iv) the face value of any deferred purchase price or holdback in connection with the acquisition of the Hake Group; provided that, Consolidated Senior Indebtedness shall not include the face amount of any issued but unfunded Letters of Credit and
unfunded payment and performance bonds.” 
  
 2. Deliveries. Upon the
execution hereof, Borrower shall: (i) execute and deliver the Notes evidencing the Term Loan B to the Agent, in form and content as set forth on Schedule “2” hereto; (ii) deliver payment of the costs and fees described in Section 7,
below; and (iii) deliver such other documents reasonably required by Agent in connection herewith. 
  
 3. Mortgaged Properties Documents. The Agent reserves the right to require Borrower to amend each of the Mortgaged Properties Security Instruments, and to deliver any Mortgaged Property Documents required by
Agent at Borrower’s cost and expense, to further evidence that they secure payment of Term Loan B and each of the Notes executed and delivered in connection therewith. Borrower, however, does hereby agree that Term Loan B and such Notes are
intended to be secured by the Mortgages. 
  

 4 

 4. Representations. Borrower represents to Agent and Lenders that, after giving affect to the amendments to the
Credit Agreement contemplated hereby: (i) no Default or Unmatured Default exists; (ii) the representations and warranties contained in Article V of the Loan Agreement are true and correct as of the date hereof, except to the extent such
representation or warranty is stated to relate solely to an earlier date, in which case such representation or warranty shall have been true and correct on and as of such earlier date; and (iii) it is in compliance with the financial covenants as
set forth in Section 6.27 as amended by this Amendment. 
  
 5.
Ratifications. Borrower shall deliver to Agent fully executed originals of the Ratification of Security Agreements and Ratification of Guaranty Agreement, in the forms set forth on Schedules “3-A” and “3-B”,
respectively, attached hereto. 
  
 6. Release And Waiver Of Claims. In
consideration of each Lender’s agreement to enter into this Amendment, Borrower hereby agrees as follows: 
  
 A. General Release and Waiver of Claims: Borrower hereby releases and forever discharges Agent and each Lender and their respective successors,
assigns, partners, directors, officers, agents, attorneys, and employees from any and all claims, demands, cross-actions, controversies, causes of action, damages, rights, liabilities and obligations, at law or in equity whatsoever, known or
unknown, whether past, present or future, now held, owned or possessed by Borrower, or which Borrower may, as a result of any actions or inactions occurring on or prior to the Effective Date, hereafter hold or claim to hold under common law or
statutory right, arising, directly or indirectly out of the Loan or any of the Loan Documents or any of the documents, instruments or any other transactions relating thereto or the transactions contemplated thereby. 
  
 Borrower understands and agrees that this is a full, final and complete
release and agrees that this release may be pleaded as an absolute and final bar to any or all suit or suits pending or which may hereafter be filed or prosecuted by Borrower, or anyone claiming by, through or under Borrower, in respect of any of
the matters released hereby, and that no recovery on account of the matters described herein may hereafter be had from anyone whomsoever, and that the consideration given for this release is no admission of liability. 
  
 B. Releases Binding on Affiliates of Borrower. The provisions, waivers
and releases set forth are binding upon Borrower and its agents, employees, representatives, officers, directors, general partners, limited partners, joint shareholders, beneficiaries, trustees, administrators, subsidiaries, affiliates, employees,
servants and attorneys. 
  
 7. Costs and Fees. As inducement for the
Lenders and Agent to execute this Amendment, Borrower shall pay a fee equal to $308,550.39 in good funds, upon the execution hereof, to Agent for distribution to the Lenders in accordance with their Pro Rata Share and pay all other costs, expenses
and fees incurred by Agent in connection herewith including without limitation the fees of Riggs, Abney, Neal, Turpen, Orbison & Lewis. 
  
 8. Governing Law. This Amendment shall be construed and enforced in accordance with, and the rights of the parties shall be governed by, the laws of the State of
Oklahoma. 
  

 5 

 9. Reimbursement. Borrower agrees to reimburse Agent for any costs, expenses, and fees (including reasonable
attorney fees) incurred in connection with the preparation of this Amendment. 
  
 10. Counterparts. This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one agreement, and any of the parties hereto may execute this Agreement by signing any such counterpart.
This Agreement shall be effective when it has been executed by the Borrower, the Agent, the LC Issuer and the Lenders and each party has notified the Agent by facsimile transmission or telephone that it has taken such action. 
  
 IN WITNESS WHEREOF, the Borrower, the Lenders, the LC Issuer and the Agent
have executed this Amendment as of the date first above written. 
  

			
	MATRIX SERVICE COMPANY
		
	By:	 	 /s/    George L. Austin      

	 	 	 George L. Austin, Vice President

			
	Notice Address:	 	10701 East Ute Street
	 	 	 Tulsa, OK 74116

	 Attention:
	 	 George L. Austin,
 Vice President

	 Telephone:
	 	 (918) 838-8822

	 FAX:
	 	 (918) 838-8810

  

 6 

							
	 Commitments:
  
 Revolving Loan: $15,085,714.00*
 Term Loan: $8,914,286.00
 Term Loan
B: $5,486,000.00
	 	 	 	 BANK ONE, NA (as successor by merger
 to Bank One, Oklahoma, NA)
 Lender, LC Issuer and as Agent

	 	 	 	 	By:	 	 /s/    David G. Page

	 	 	 	 	 	 	 David G. Page, First Vice President

			
	Notice Address:	 	 4th Floor
OK2-6110
 15 East Fifth Street

	 	 	 Tulsa, OK 74103

	 Attention:
	 	 David G. Page,
 First Vice President

	 Telephone:
	 	 (918) 586-5430

	 FAX:
	 	 (918) 586-5474

  
 * The Revolving Loan Commitment
shall be reduced by the Term Loan B Commitment until the Term Loan B is fully paid, whereupon it shall be reinstated as provided in Section 2.1.1, as amended by this Amendment. 
  

 7 

							
	 Commitments:
  
 Revolving Loan: $9,428,571.00*
 Term Loan: $5,571,429.00
 Term Loan
B: $3,428,000.00
	 	 	 	 INTERNATIONAL BANK OF COMMERCE,
 successor in interest to LOCAL OKLAHOMA BANK, an Oklahoma Banking Corporation, formerly known as LOCAL OKLAHOMA BANK, NA

				
	 	 	 	 	By:	 	 /s/    Barry J. Woods

	 	 	 	 	 	 	 Barry J. Woods, Senior Vice President

			
	Notice Address:	 	 2250 East 73rd
Street
 Suite 200

	 	 	 Tulsa, OK 74136

	 Attention:
	 	 Barry J. Woods,
 Senior Vice President

	 Telephone:
	 	 (918) 497-2436

	 FAX:
	 	 (918) 497-2455

  
 * The Revolving Loan Commitment
shall be reduced by the Term Loan B Commitment until the Term Loan B is fully paid, whereupon it shall be reinstated as provided in Section 2.1.1, as amended by this Amendment. 
  

 8 

							
	 Commitments:
  
 Revolving Loan: $9,428,571.00*
 Term Loan: $5,571,429.00
 Term Loan
B: $3,428,000.00
	 	 	 	 WACHOVIA BANK,
 NATIONAL
ASSOCIATION

	 	 	 	 	By:	 	 /s/    Stephen T. Dorosh

	 	 	 	 	 	 	 Stephen T. Dorosh, Vice President

			
	Notice Address:	 	 123 South Broad Street
 14th Floor – PA1202

	 	 	 Philadelphia, PA 19109

	 Attention:
	 	 Stephen T. Dorosh,
 Vice President

	 Telephone:
	 	 (215) 670-6577

	 FAX:
	 	 (215) 670-6543

  
 * The Revolving Loan Commitment
shall be reduced by the Term Loan B Commitment until the Term Loan B is fully paid, whereupon it shall be reinstated as provided in Section 2.1.1, as amended by this Amendment. 
  

 9 

							
	 Commitments:
  
 Revolving Loan: $6,285,714.00*
	 	 	 	UMB BANK, N.A.
	 Term Loan: $3,714,286.00
	 	 	 	By:	 	 /s/    Richard J. Lehrter

	 Term Loan B: $2,286,000.00
	 	 	 	 	 	 Richard J. Lehrter, Community Bank President

			
	Notice Address:	 	 1437 South Boulder Avenue
 Suite 150

	 	 	 Tulsa, OK 74119

	 Attention:
	 	 Richard J. Lehrter,
 President

	 Telephone:
	 	 (918) 295-2000

	 FAX:
	 	 (918) 295-2020

  
 * The Revolving Loan Commitment
shall be reduced by the Term Loan B Commitment until the Term Loan B is fully paid, whereupon it shall be reinstated as provided in Section 2.1.1, as amended by this Amendment. 
  

 10 

							
	 Commitments:
  
 Revolving Loan: $14,771,430.00*
	 	 	 	 WELLS FARGO BANK, NA
 (formerly known as Wells Fargo Bank Texas, NA)

	 Term Loan: $8,728,570.00
	 	 	 	By:	 	 /s/    Brad S. Thompson

	 Term Loan B: $5,372,000.00
	 	 	 	 	 	 Brad S. Thompson, Vice President

			
	Notice Address:	 	 3rd Floor
MACT5303-031
 1445 Ross Avenue

	 	 	 Dallas, TX 75202

	 Attention:
	 	 Brad S. Thompson,
 Vice President

	 Telephone:
	 	 (214) 740-1545

	 FAX:
	 	 (214) 953-3982

  
 * The Revolving Loan Commitment
shall be reduced by the Term Loan B Commitment until the Term Loan B is fully paid, whereupon it shall be reinstated as provided in Section 2.1.1, as amended by this Amendment. 
  

 11 

 Schedule “3-A” 
  
 RATIFICATION OF SECURITY AGREEMENTS 
  
 As inducement for and in consideration of the Lenders and Agent to execute the Amendment Six to Credit Agreement of even
date herewith with respect to the Credit Agreement dated as of March 7, 2003, among Matrix Service Company, the Lenders, Bank One, NA, as Agent, Wells Fargo Bank Texas, N.A., as Co-Agent and JP Morgan (successors in interest to Banc One Capital
Markets, Inc.) as Lead Arranger and Sole Book Runner, the undersigned Borrower and Subsidiaries hereby ratify and confirm their respective Pledge and Security Agreements and agree that each remains in full force and effect, and that the Secured
Obligations shall additionally include the Term Loan B and the Notes executed and delivered in furtherance thereof. This Ratification may be executed in multiple counterparts. 
  
 Dated effective this 5th day of August 2004. 
  
 IN WITNESS WHEREOF, the Borrower and Subsidiaries hereby executed this Ratification of Security Agreements as of the date
first written above. 
  

			
	 MATRIX SERVICE COMPANY,
 a Delaware corporation

		
	By:	 	 /s/    George L. Austin

	 	 	 George L. Austin, Vice President

  
 IN WITNESS
WHEREOF, each of the Subsidiaries has caused this Agreement to be duly executed, under seal, by its authorized officer as of the day and year first above written. 
  

			
	MATRIX SERVICE INC., an Oklahoma corporation; MATRIX SERVICE INDUSTRIAL CONTRACTORS, INC. (f/k/a Matrix Service Mid-Continent, Inc.), an Oklahoma corporation; MATRIX
SERVICE, INC. CANADA, an Ontario, Canada corporation; HAKE GROUP, INC., a Delaware corporation **; BOGAN, INC. (including Fiberspec, a division), a Pennsylvania corporation; MATRIX SPECIALITY TRANSPORT, INC. (f/k/a Frank W.
Hake, Inc.), a Pennsylvania corporation; HOVER SYSTEMS, INC., a Pennsylvania corporation*; I & S, INC., a Pennsylvania corporation; MCBISH MANAGEMENT, INC., a Pennsylvania corporation; MECHANICAL CONSTRUCTION, INC., a
Delaware corporation; MID-ATLANTIC CONSTRUCTORS, INC., a Pennsylvania corporation; TALBOT REALTY, INC., a Pennsylvania corporation; BISH INVESTMENTS, INC., a Delaware corporation; I & S JOINT VENTURE, L.L.C., a
Pennsylvania limited liability company*
		
	By:	 	/s/    George L. Austin
	 	 	 George L. Austin, Vice President

  

	*	Indicates that the entity is in the process of being dissolved into Hake Group, Inc. 

	**Hake	Acquisition Corp. was dissolved into Hake Group, Inc. effective July 14, 2004. 

  

 12 

 Schedule “3-B” 
  
 RATIFICATION OF SUBSIDIARY GUARANTY 
  
 As inducement for and in consideration of the Lenders and Agent to execute the Amendment Six to Credit Agreement of even
date herewith with respect to the Credit Agreement dated as of March 7, 2003, among Matrix Service Company, the Lenders, Bank One, NA, as Agent, Wells Fargo Bank Texas, N.A., as Co-Agent and JP Morgan (successors in interest to Banc One Capital
Markets, Inc.) as Lead Arranger and Sole Book Runner, the undersigned Guarantors hereby ratify and confirm the Guaranty Agreement and agree that it remains in full force and effect, and that the Secured Obligations shall additionally include the
Term Loan B and the Notes executed and delivered in furtherance thereof. 
  
 Dated effective this 5th day of August 2004. 
  
 IN WITNESS WHEREOF, each of the Subsidiary Guarantors has caused Ratification of Subsidiary Guaranty to be duly executed, under seal, by its authorized officer as of the day and year first above written. 

 

			
	MATRIX SERVICE INC., an Oklahoma corporation; MATRIX SERVICE INDUSTRIAL CONTRACTORS, INC. (f/k/a Matrix Service Mid-Continent, Inc.), an Oklahoma corporation; MATRIX
SERVICE, INC. CANADA, an Ontario, Canada corporation; HAKE GROUP, INC., a Delaware corporation**; BOGAN, INC. (including Fiberspec, a division), a Pennsylvania corporation; MATRIX SPECIALITY TRANSPORT, INC. (f/k/a Frank W.
Hake, Inc.), a Pennsylvania corporation; HOVER SYSTEMS, INC., a Pennsylvania corporation*; I & S, INC., a Pennsylvania corporation; MCBISH MANAGEMENT, INC., a Pennsylvania corporation; MECHANICAL CONSTRUCTION, INC., a
Delaware corporation; MID-ATLANTIC CONSTRUCTORS, INC., a Pennsylvania corporation; TALBOT REALTY, INC., a Pennsylvania corporation; BISH INVESTMENTS, INC., a Delaware corporation; I & S JOINT VENTURE, L.L.C., a
Pennsylvania limited liability company*
		
	By:	 	 /s/    George L. Austin

	 	 	 George L. Austin, Vice President

  

	*	Indicates that the entity is in the process of being dissolved into Hake Group, Inc. 

	**Hake	Acquisition Corp. was dissolved into Hake Group, Inc. effective July 14, 2004. 

  

 13Prepared by R.R. Donnelley Financial -- Form of Indemnification Agreement for directors and executive officers

 Exhibit 10.1 
  
 FOXHOLLOW TECHNOLOGIES, INC. 
  
 INDEMNIFICATION AGREEMENT 
  
 This Indemnification Agreement (“Agreement”) is made as of this          day of
                    ,             , by and between FoxHollow Technologies,
Inc., a Delaware corporation (the “Company”), and                             
(“Indemnitee”). 
  
 WHEREAS, the
Company and Indemnitee recognize the significant cost of directors’ and officers’ liability insurance and the general reductions in the coverage of such insurance; 
  
 WHEREAS, the Company and Indemnitee further recognize the substantial increase in corporate litigation in
general, subjecting officers and directors to expensive litigation risks at the same time as the coverage of liability insurance has been severely limited; and 
  

WHEREAS, the Company desires to attract and retain the services of highly qualified individuals, such as Indemnitee, to serve as officers
and directors of the Company and to indemnify its officers and directors so as to provide them with the maximum protection permitted by law. 
  
 NOW, THEREFORE, in consideration for Indemnitee’s services as an officer or director of the Company, the Company and Indemnitee hereby
agree as follows: 
  
 1. Indemnification.

  
 (a) Third Party Proceedings. The Company shall
indemnify Indemnitee if Indemnitee is or was a party or is threatened to be made a party to any threatened, pending or completed action, suit, proceeding or any alternative dispute resolution mechanism, 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, suit 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 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, with respect to any criminal action or proceeding, 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 or is threatened to be made a party to 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 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) and, to the fullest extent permitted by law, amounts paid in settlement 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 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 was
brought 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 such expenses which the Court of Chancery of the
State of Delaware or such other court shall deem proper. 
  
 (c)
Mandatory Payment of Expenses. To the extent that Indemnitee has been successful on the merits or otherwise in defense of any action, suit or proceeding referred to in Subsections (a) and (b) of this Section 1, or in defense of any claim,
issue or matter therein, Indemnitee shall be indemnified against expenses (including attorneys’ 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, suit or proceeding referenced in Section 1(a) or (b) hereof (but not amounts actually paid in settlement of any such action, suit 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 thirty (30) days following delivery of a written request therefor by Indemnitee to the Company. 
  
 (b) Notice/Cooperation by Indemnitee. Indemnitee shall, as a condition precedent to his 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. Notice to the Company shall be directed to the President of the Company at the address
shown on the signature page of this Agreement (or such other address as the Company shall designate in writing to Indemnitee). Notice shall be deemed received three business days after the date postmarked if sent by domestic certified or registered
mail, properly addressed, five business days if sent by airmail to a country outside of North America; otherwise notice shall be deemed received when such notice shall actually be received by the Company. In addition, Indemnitee shall give the
Company such information and cooperation as it may reasonably require and as shall be within Indemnitee’s power. 
  

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 (c) Procedure. Any indemnification and advances provided for in Section 1 and this Section 2 shall
be made no later than thirty (30) days after receipt of the written request of Indemnitee. If a claim 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 thirty (30) days after a written request for payment thereof has first been 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 of this Agreement, Indemnitee shall also be entitled to be paid for the expenses (including 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, suit 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. However, Indemnitee shall be entitled to receive interim payments of expenses pursuant to Subsection 2(a) 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 it 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 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. 
  
 (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, if appropriate, shall be entitled to assume the defense of such proceeding, with counsel approved by Indemnitee, upon the
delivery to Indemnitee of written notice of its election to do so. 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 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 
  

 - 3 - 

 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. 
  
 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 law, 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 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 or an officer, 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
General Corporation Law of the State of Delaware, 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 may have ceased to serve in such capacity at the time of any action, suit 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, judgments, fines or penalties actually or reasonably incurred by him in the investigation, defense, appeal or settlement of any civil or criminal
action, suit or proceeding, but not, however, for the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion of such expenses, judgments, fines or penalties to which Indemnitee is entitled. 
  
 5. Mutual Acknowledgement. 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. Officer and Director Liability
Insurance. The Company shall, from time to time, make the good faith determination whether or not it is practicable for the Company to obtain and maintain 
  

 - 4 - 

 a policy or policies of insurance with reputable insurance companies providing the officers and directors of the Company
with coverage for losses from wrongful acts, or to ensure the Company’s performance of its indemnification obligations under this Agreement. Among other considerations, the Company will weigh the costs of obtaining such insurance coverage
against the protection afforded by such coverage. In all policies of director and officer liability insurance, Indemnitee shall be named as an insured in such a manner as to provide Indemnitee the same rights and benefits as are accorded to the most
favorably insured of the Company’s directors, if Indemnitee is a director; or of the Company’s officers, if Indemnitee is not a director of the Company but is an officer. Notwithstanding the foregoing, the Company shall have no obligation
to obtain or maintain such insurance if the Company determines in good faith that such insurance is not reasonably available, if the premium costs for such insurance are disproportionate to the amount of coverage provided, if the coverage provided
by such insurance is limited by exclusions so as to provide an insufficient benefit, or if Indemnitee is covered by similar insurance maintained by a subsidiary or parent of the Company. 
  
 7. 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 shall be severable as provided in this Section 7. 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. 
  
 8. Exceptions. Any other provision herein to the contrary
notwithstanding, the Company shall not be obligated pursuant to the terms of this Agreement: 
  
 (a) Claims Initiated by Indemnitee. To indemnify or advance expenses to Indemnitee with respect to proceedings or 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 
  
 (b) Lack of Good Faith. To indemnify Indemnitee for any expenses incurred by the Indemnitee with respect to any proceeding instituted by Indemnitee
to enforce or interpret this Agreement, if a court of competent jurisdiction determines that each of the material assertions made by the Indemnitee in such proceeding was not made in good faith or was frivolous; or 
  
 (c) Insured Claims. To indemnify Indemnitee for expenses or
liabilities of any type whatsoever (including, but not limited to, judgments, fines, ERISA excise taxes or penalties, and amounts paid in settlement) which have been paid directly to Indemnitee by an insurance carrier under a policy of
officers’ and directors’ liability insurance maintained by the Company. 
  

 - 5 - 

 (d) 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. 
  
 9. Construction of Certain Phrases. 
  
 (a) 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, and
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) 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 an 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; and if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in the interest of the participants and beneficiaries of an employee benefit
plan, Indemnitee shall be deemed to have acted in a manner “not opposed to the best interests of the Company” as referred to in this Agreement. 
  
 10. Counterparts. This Agreement may be executed in one 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, and shall inure to the benefit of Indemnitee and Indemnitee’s estate, heirs, legal representatives and assigns. 
  
 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, unless as a part of such action, the
court of competent jurisdiction determines that each of 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 attorneys’ fees, incurred by Indemnitee in defense of such action (including with
respect to Indemnitee’s counterclaims and cross-claims made in such action), unless as a part of such action the court determines that each of Indemnitee’s material defenses to such action were made in bad faith or were frivolous.

  

 - 6 - 

 13. Notice. All notices, requests, demands and other communications under this Agreement
shall be in writing and shall be deemed duly given (i) if delivered by hand and receipted for by the party addressee, on the date of such receipt, or (ii) if mailed by domestic certified or registered mail with postage prepaid, on the third business
day after the date postmarked. Addresses for notice to either party are as shown on the signature page of this Agreement, or as subsequently modified by written notice. 
  
 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 without regard to the
conflict of law principles thereof. 
  
 16. Period of
Limitations. No legal action shall be brought and no cause of action shall be asserted by or in the right of the Company against Indemnitee, Indemnitee’s estate, spouse, heirs, executors or personal or legal representatives after the
expiration of two years from the date of accrual of such cause of action, and any claim or cause of action of the Company shall be extinguished and deemed released unless asserted by the timely filing of a legal action within such two-year period;
provided, however, that if any shorter period of limitations is otherwise applicable to any such cause of action, such shorter period shall govern. 
  
 17. Subrogation. In the event of payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the
rights of recovery of Indemnitee, who shall execute all documents required and shall do all acts that may be necessary to secure such rights and to enable the Company effectively to bring suit to enforce such rights. 
  
 18. Amendment and Termination. No amendment, modification,
termination or cancellation of this Agreement shall be effective unless it is in writing signed by both 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. 
  
 19. Integration and Entire Agreement. This Agreement sets forth the entire understanding between the parties hereto and supersedes and merges all previous written and oral negotiations, commitments,
understandings and agreements relating to the subject matter hereof between the parties hereto. 
  

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

  

			
	 FOXHOLLOW TECHNOLOGIES, INC.

	  

	Signature of Authorized Signatory
	  

	Print Name and Title
		
	 Address:
	 	 740 Bay Road

	 	 	 Redwood City, CA 94063

  

	
	 AGREED TO AND ACCEPTED:

	
	 INDEMNITEE:
  

	
	

	Signature
	 
	
 Print Name and Title

	
	 Address:

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