Document:

exv10w24

Exhibit 10.24

FORM OF DIRECTOR’S INDEMNIFICATION AGREEMENT

     THIS AGREEMENT is made as of _______ between Xylem Inc., an Indiana corporation (the
“Corporation”), and __________________ (the “Indemnitee”).

WITNESSETH THAT:

     WHEREAS, it is in the Corporation’s best interest to attract and retain capable directors;

     WHEREAS, both the Corporation and the Indemnitee recognize the increased risk of litigation
and other claims being asserted against directors of public corporations in today’s environment;

     WHEREAS, it is now and has always been the policy of the Corporation to indemnify the members
of its Board of Directors so as to provide them with the maximum possible protection available in
accordance with applicable law;

     WHEREAS, Article 4 of the Corporation’s Amended and Restated By-laws (“By-laws”) and
applicable law expressly recognize that the right of indemnification provided therein shall not be
exclusive of any other rights to which any indemnified person may otherwise be entitled; and

     WHEREAS, the Corporation’s By-laws, its Amended and Restated Articles of Incorporation
(“Articles of Incorporation”) and applicable law permit contracts between the Corporation
and the members of its Board of Directors covering indemnification;

     NOW, THEREFORE, the parties hereto agree as follows:

     1. Indemnity. In consideration of the Indemnitee’s agreement to serve or continue to serve as a Director
of the Corporation, or, at the request of the Corporation, as a director, officer, employee,
fiduciary or agent of another corporation, partnership, limited liability company, joint venture,
trust or other enterprise, whether for profit or not, and including, without limitation, any
employee benefit plan (a “Designated Director”), if Indemnitee was or is made or is
threatened to be made a party to, or is otherwise involved in, as a witness or otherwise, any
threatened, pending or completed investigation, claim, action, suit, arbitration, alternate dispute
resolution mechanism or proceeding (brought in the right of the Corporation or otherwise), whether
civil, criminal, administrative or investigative (including, without limitation, any internal
corporate investigation), whether formal or informal, and including all appeals thereto (a
“Proceeding”), the Corporation hereby agrees to hold the Indemnitee harmless and to
indemnify the Indemnitee to the fullest extent now or hereafter permitted by applicable law from
and against any and all expenses (which term shall be broadly construed and include, without
limitation, all direct and indirect costs of any type or nature whatsoever (including, without
limitation, all attorneys’ fees and related disbursements, appeal bonds, other out-of-pocket costs)
(“Expenses”), judgments, fines, amounts paid in settlement (with such judgments, fines or
amounts including, without limitation, all direct and indirect payments of any type or nature
whatsoever, as well as any penalties or excise taxes assessed on a person with respect to an
employee benefit plan), liabilities or losses actually and reasonably incurred by the Indemnitee

 

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by reason of the fact such person is or was a Director of the Corporation or a Designated
Director, or by reason of any actual or alleged action or omission to act taken or omitted in any
such capacity.

     2. Maintenance of Insurance. (a) Subject only to the provisions of Section 2(c) hereof, the Corporation hereby agrees
that, so long as the Indemnitee shall continue to serve as a Director of the Corporation, and
thereafter so long as the Indemnitee shall be entitled to indemnification hereunder, the
Corporation will provide insurance coverage comparable to that presently provided and at least as
favorable to Indemnitee as the insurance coverage provided to any other director or officer of the
Corporation under the Corporation’s Directors’ and Officers’ Liability Insurance policies (the
“insurance policies”) in effect at the date hereof.

     (b) At the time the Corporation receives notice from Indemnitee, or is otherwise aware, of a
Proceeding, the Corporation shall give prompt notice to the insurers in accordance with the
procedures set forth in the insurance policies. The Corporation shall thereafter take all
necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee, all amounts
payable as a result of such proceeding in accordance with the terms of such insurance policy.

     (c) However, the Corporation shall not be required to maintain all or any of such insurance
policies or comparable insurance coverage if, in the business judgment of the Board of Directors of
the Corporation, (i) the premium cost for such insurance is substantially disproportionate to the
amount of coverage, or (ii) the coverage provided by such insurance is so limited by exclusions
that there is insufficient benefit from such insurance or (iii) such insurance is otherwise not
reasonably available.

     (d) In the event of any payment by the Corporation under this Agreement, the Corporation shall
be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee with
respect to any insurance policy. Indemnitee 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 Corporation to bring suit to enforce such rights in accordance with the terms of such insurance
policy. The Corporation shall pay or reimburse all expenses actually and reasonably incurred by
Indemnitee in connection with such subrogation.

     (e) The Corporation 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 this Agreement or any insurance policy, contract, agreement or
otherwise.

     3. Additional Indemnity. Subject only to the exclusions set forth in Section 4 hereof, the Corporation hereby
further agrees to hold harmless and indemnify the Indemnitee:

     (a) to the fullest extent provided under Article 4 of the Corporation’s By-laws as in effect
at the date hereof; and

     (b) in the event the Corporation does not maintain in effect the insurance coverage provided
under Section 2 hereof, to the fullest extent of the coverage which would

 

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otherwise have been provided for the benefit of the Indemnitee pursuant to the insurance
policies in effect at the date hereof.

     4. Limitations on Additional Indemnity. No indemnity pursuant to Section 3 hereof shall be paid by the Corporation:

     (a) except to the extent the aggregate of losses to be indemnified thereunder exceed the
amount of such losses for which the Indemnitee is indemnified or insured pursuant to either Section
1 or 2 hereof;

     (b) in respect of remuneration paid to, or indemnification of, the Indemnitee, if it shall be
determined by a final judgment or other final adjudication that such remuneration or
indemnification was or is prohibited by applicable law;

     (c) for any transaction from which the Indemnitee derived an improper personal benefit;

     (d) for any breach of the Indemnitee’s duty to act in good faith and (i) in the case of
conduct in the Indemnitee’s official capacity with the Corporation, in a manner he or she
reasonably believed to be in the best interests of the Corporation, (ii) in all other cases, that
the Indemnitee reasonably believed his or her conducts conduct was at least not opposed to the
Corporation’s best interests and (iii) in the case of any criminal proceeding, the Indemnitee had
reasonable cause to believe his or her conduct was lawful or had no reasonable cause to believe
that his or her conduct was unlawful; or

     (e) in respect of acts or omissions which involve intentional misconduct or a knowing
violation of law by the Indemnitee.

     5. Continuation of Indemnity. All agreements and obligations of the Corporation contained herein shall continue during
the period the Indemnitee is a Director of the Corporation and shall continue thereafter so long as
the Indemnitee may be made or threatened to be made a party to, or be otherwise involved in, as a
witness or otherwise, any Proceeding, by reason of the fact that the Indemnitee was a Director of
the Corporation or a Designated Director, or by reason of any action alleged to have been taken or
omitted in any such capacity.

     6. Notification and Defense of Claim.

     (a) Promptly after receipt by the Indemnitee of notice of the commencement of any Proceeding,
the Indemnitee shall, if a claim in respect thereof is to be made against the Corporation under
this Agreement, notify the Secretary of the Corporation in writing of the commencement thereof and
shall provide the Secretary with such documentation and information as is reasonably available to
Indemnitee and reasonably necessary to determine whether and to what extent the Indemnitee is
entitled to indemnification; but an omission to so promptly notify the Corporation will not relieve
it from any liability which it may have to the Indemnitee (i) under this Agreement, except to the
extent the Corporation is actually and materially prejudiced in its defense of such Proceeding or
(ii) otherwise than under this Agreement, including, without limitation, its liability to indemnify
the Indemnitee under the Corporation’s By-laws.

 

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     (b) With respect to any such Proceeding:

	 	(1)	 	the Corporation shall be entitled to participate therein at its
own expense;
	 
	 	(2)	 	except as otherwise provided below, to the extent that it may
wish, the Corporation jointly with any other indemnifying party shall be
entitled to assume the defense thereof, with counsel reasonably satisfactory to
the Indemnitee. After notice from the Corporation to the Indemnitee of its
election so to assume the defense thereof and approval by the Indemnitee of
such counsel (which approval shall not be unreasonably withheld), the
Corporation will not be liable to the Indemnitee under this Agreement for any
legal or other expenses subsequently incurred by the Indemnitee for separate
counsel in connection with the defense thereof other than reasonable costs of
investigation or as otherwise provided below. The Indemnitee shall have the
right to employ its counsel in such action, suit or proceeding but the fees and
expenses of such counsel incurred after notice from the Corporation of its
assumption of the defense thereof shall be at the expense of the Indemnitee
unless (i) the employment of such counsel by the Indemnitee has been authorized
by the Corporation, (ii) the Indemnitee shall have reasonably concluded (with
written notice to the Corporation setting forth the basis for such conclusion)
that there may be a conflict of interest between the Corporation and the
Indemnitee in the conduct of the defense of such Proceeding, or (iii) the
Corporation shall not in fact have employed counsel to assume the defense of
such Proceeding, in each of which cases the fees and expenses of counsel shall
be at the expense of the Corporation. The Corporation shall not be entitled to
assume the defense of any action, suit or proceeding brought by or on behalf of
the Corporation or as to which the Indemnitee shall have made the conclusion
provided for in (ii) above; and
	 
	 	(3)	 	the Corporation shall not be liable to indemnify the Indemnitee
under this Agreement for any amounts paid in settlement of any Proceeding
effected without the Corporation’s written consent. The Corporation shall not
settle any Proceeding in any manner that would impose any penalty, obligation
or limitation on the Indemnitee without the Indemnitee’s written consent.
Neither the Corporation nor the Indemnitee will unreasonably withhold their
consent to any proposed settlement.

     (c) Except as otherwise required by applicable law, the determination of the Indemnitee’s
entitlement to indemnification shall be made pursuant to and in accordance with the procedures set
forth in the By-Laws in effect as of the date hereof, or any such procedures that may be more
favorable to the Indemnitee that are set forth in the By-Laws in effect on the date Indemnitee
provides the Secretary notice of the request for indemnification.

     7. Advancement and Repayment of Expenses. Upon receipt by the Corporation of a statement from the Indemnitee requesting advancement
or repayment of any Expenses incurred in connection with any Proceeding involving the Indemnitee,
all such

 

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Expenses shall be paid promptly (and in any event within twenty (20) days of receipt of such
statement, which statement shall reasonably evidence the Expenses incurred or to be incurred) by
the Corporation in advance of the final disposition of such Proceeding. The Indemnitee agrees that
the Indemnitee will reimburse (without interest) the Corporation for all reasonable Expenses
advanced, paid or incurred by the Corporation on behalf of the Indemnitee in respect of a claim
against the Corporation under this Agreement in the event and only to the extent that it shall be
ultimately and finally determined that the Indemnitee is not entitled to be indemnified by the
Corporation for such Expenses under the provisions of applicable law, the Corporation’s Articles of
Incorporation or By-laws, this Agreement or otherwise. The Corporation’s obligations to advance
Expenses under this Section 7 shall not be subject to any conditions or requirements not contained
in this Section.

     8. Nonexclusivity. The provisions for indemnification and advancement and reimbursement of expenses set forth
in this Agreement shall not be deemed exclusive of any other rights which Indemnitee may have under
any provision of law, in any court in which a proceeding is brought, the Corporation’s Articles of
Incorporation or By-laws, other agreements or otherwise, and Indemnitee’s rights hereunder shall
inure to the benefit of the heirs, executors and administrators of Indemnitee. No amendment or
alteration of the Corporation’s Articles of Incorporation or By-laws or another agreement shall
adversely affect the rights provided to Indemnitee under this Agreement. To the extent that a
change in Indiana or other law, whether by statute or judicial decision, permits greater
indemnification or payment than would be afforded currently under the Corporation’s Articles of
Incorporation, By-laws or 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.

     9. Enforcement. If a claim under this Agreement is not paid in full by the Corporation within ninety days
after a written request has been received by the Corporation, the Indemnitee may at any time
thereafter bring suit against the Corporation to recover the unpaid amount of the claim and, if
successful in whole or in part, the Indemnitee shall also be entitled to be indemnified for all
expenses actually and reasonably incurred by the Indemnitee in connection with the prosecution of
such claim. Nothing in this Section 11 is intended to limit the Corporation’s obligations with
respect to the advancement or repayment of expenses to Indemnitee in connection with any such
action, suit or proceeding instituted by Indemnitee to enforce or interpret this Agreement.

     10. Severability. If any provision of this Agreement shall be held to be or shall, in fact, be invalid,
inoperative or unenforceable as applied to any particular case or in any particular jurisdiction,
for any reason, such circumstances shall not have the effect of rendering the provision in question
invalid, inoperative or unenforceable in any other distinguishable case or jurisdiction, or of
rendering any other provision or provisions herein contained invalid, inoperative or unenforceable
to any extent whatsoever. The invalidity, inoperability or unenforceability of any one or more
phrases, sentences, clauses or Sections contained in this Agreement shall not affect any other
remaining part of this Agreement.

     11. Governing Law; Binding Effect; Amendment or Termination (a) This Agreement shall be governed by and interpreted in accordance with the laws of the
State of Indiana.

 

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     (b) This Agreement shall be binding upon the Indemnitee and upon the Corporation and its
successors and assigns, and shall inure to the benefit of the Indemnitee and his or her heirs,
personal representatives, executors and administrators, and to the benefit of the Corporation and
its successors and assigns.

     (c) This Agreement constitutes the entire agreement between the parties hereto with respect to
the matters covered hereby, and any other prior oral or written understandings or agreements with
respect to the matters covered hereby are expressly superseded by this Agreement, except to the
extent any such prior agreement may be more favorable to the Indemnitee than the provisions
hereunder.

     (d) No amendment, modification, termination or cancellation of this Agreement shall be
effective unless in writing signed by both parties hereto.

[Signature Page Follows]

 

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

	 	 	 	 	 
	 	Exelis Inc.

 	 
	 	By:  	 	 
	 	Name: 	 	 	 
	 	Title: 	 	 	 
	 	 	 
	 	By  	
 	 
	 	Name:  	[Director’s Name]Exhibit 10.26

EXHIBIT 10.26

AMERIGAS PROPANE, INC.

DESCRIPTION OF COMPENSATION ARRANGEMENT

FOR

EUGENE V.N. BISSELL

Eugene V.N. Bissell is President and Chief Executive Officer of AmeriGas Propane, Inc., the general
partner of AmeriGas Partners, L.P. Mr. Bissell has an oral compensation arrangement with AmeriGas
Propane, Inc. which includes the following:

Mr. Bissell:

	 	1.	 	is entitled to an annual base salary, which for fiscal year 2011 is $502,268;

	 
	 	2.	 	participates in AmeriGas Propane, Inc.’s annual bonus plan, with bonus payable based on the
achievement of pre-approved financial and/or business performance objectives, which support
business plans and strategic goals;

	 
	 	3.	 	participates in AmeriGas Propane, Inc.’s long-term compensation plans, the 2010 Long-Term
Incentive Plan, with annual awards as determined by the Compensation/Pension Committee, and UGI
Corporation’s 2004 Omnibus Equity Compensation Plan, with annual awards as determined by the UGI
Corporation Compensation and Management Development Committee;

	 
	 	4.	 	will receive cash benefits upon termination of his employment without cause following a change
in control of AmeriGas Partners, L.P. or UGI Corporation; and

	 
	 	5.	 	participates in AmeriGas Propane, Inc.’s benefit plans, including the AmeriGas Propane, Inc.
Executive Employee Severance Pay Plan and the AmeriGas Propane, Inc. Supplemental Executive
Retirement Plan.

 

 

 

AMERIGAS PROPANE, INC.

DESCRIPTION OF COMPENSATION ARRANGEMENT

FOR

JOHN S. IANNARELLI

John S. Iannarelli is Vice President — Finance and Chief Financial Officer of AmeriGas Propane,
Inc., the general partner of AmeriGas Partners, L.P. Mr. Iannarelli has an oral compensation
arrangement with AmeriGas Propane, Inc. which includes the following:

Mr. Iannarelli:

	 	1.	 	is entitled to an annual base salary, which for fiscal year 2011 is $215,000 (reflects Mr.
Iannarelli’s promotion in May 2011);

	 
	 	2.	 	participates in AmeriGas Propane, Inc.’s annual bonus plan, with bonus payable based on the
achievement of pre-approved financial and/or business performance objectives, which support
business plans and strategic goals;

	 
	 	3.	 	participates in AmeriGas Propane, Inc.’s long-term compensation plans, the 2010 Long-Term
Incentive Plan, with annual awards as determined by the Compensation/Pension Committee, and UGI
Corporation’s 2004 Omnibus Equity Compensation Plan, with annual awards as determined by the UGI
Corporation Compensation and Management Development Committee;

	 
	 	4.	 	will receive cash benefits upon termination of his employment without cause following a change
in control of AmeriGas Partners, L.P. or UGI Corporation; and

	 
	 	5.	 	participates in AmeriGas Propane, Inc.’s benefit plans, including the AmeriGas Propane, Inc.
Executive Employee Severance Pay Plan and the AmeriGas Propane, Inc. Supplemental Executive
Retirement Plan.

 

 

 

AMERIGAS PROPANE, INC.

DESCRIPTION OF COMPENSATION ARRANGEMENT

FOR

WILLIAM D. KATZ

William D. Katz is Vice President — Human Resources of AmeriGas Propane, Inc., the general partner
of AmeriGas Partners, L.P. Mr. Katz has an oral compensation arrangement with AmeriGas Propane,
Inc. which includes the following:

Mr. Katz:

	 	1.	 	is entitled to an annual base salary, which for fiscal year 2011 is $264,784;

	 
	 	2.	 	participates in AmeriGas Propane, Inc.’s annual bonus plan, with bonus payable based on the
achievement of pre-approved financial and/or business performance objectives, which support
business plans and strategic goals;

	 
	 	3.	 	participates in AmeriGas Propane, Inc.’s long-term compensation plans, the 2010 Long-Term
Incentive Plan, with annual awards as determined by the Compensation/Pension Committee, and UGI
Corporation’s 2004 Omnibus Equity Compensation Plan, with annual awards as determined by the UGI
Corporation Compensation and Management Development Committee;

	 
	 	4.	 	will receive cash benefits upon termination of his employment without cause following a change
in control of AmeriGas Partners, L.P. or UGI Corporation; and

	 
	 	5.	 	participates in AmeriGas Propane, Inc.’s benefit plans, including the AmeriGas Propane, Inc.
Executive Employee Severance Pay Plan and the AmeriGas Propane, Inc. Supplemental Executive
Retirement Plan.

 

 

 

AMERIGAS PROPANE, INC.

DESCRIPTION OF COMPENSATION ARRANGEMENT

FOR

JERRY E. SHERIDAN

Jerry E. Sheridan is Vice President — Operations and Chief Operating Officer of AmeriGas Propane,
Inc., the general partner of AmeriGas Partners, L.P. Mr. Sheridan has an oral compensation
arrangement with AmeriGas Propane, Inc. which includes the following:

Mr. Sheridan:

	 	1.	 	is entitled to an annual base salary, which for fiscal year 2011 is $350,000 (reflects Mr.
Sheridan’s promotion in May 2011);

	 
	 	2.	 	participates in AmeriGas Propane, Inc.’s annual bonus plan, with bonus payable based on the
achievement of pre-approved financial and/or business performance objectives, which support
business plans and strategic goals;

	 
	 	3.	 	participates in AmeriGas Propane, Inc.’s long-term compensation plans, the 2010 Long-Term
Incentive Plan, with annual awards as determined by the Compensation/Pension Committee, and UGI
Corporation’s 2004 Omnibus Equity Compensation Plan, with annual awards as determined by the UGI
Corporation Compensation and Management Development Committee;

	 
	 	4.	 	will receive cash benefits upon termination of his employment without cause following a change
in control of AmeriGas Partners, L.P. or UGI Corporation; and

	 
	 	5.	 	participates in AmeriGas Propane, Inc.’s benefit plans, including the AmeriGas Propane, Inc.
Executive Employee Severance Pay Plan and the AmeriGas Propane, Inc. Supplemental Executive
Retirement Plan.

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