Document:

exv10w4

 

Exhibit 10.4

Equity Office Properties Trust

[1997 Share Option and Share Award Plan]

[2003 Share Option and Share Incentive Plan]

Participant Summary and

Restricted Share Agreement for Employees

     

    	 	 	 
	INTRODUCTION
          
	 	Equity Office Properties Trust (“Equity
          Office”) has established the Equity Office Properties
Trust [1997
          Share Option and Share Award Plan][2003 Share Option and Share Incentive Plan], as amended (the “Plan”).
          Under the Plan, certain employees, officers, trustees and consultants
          may receive various rights related to common shares of beneficial interest
          (“Shares”) of Equity Office.
	 
	 	 
	 
	 	This Summary and Agreement is intended as
          a guide to the terms and conditions of the grant of an award of restricted
          Shares pursuant to the Plan. In addition, this Summary and Agreement
          is intended to serve as an agreement between you (the “Grantee”)
          and Equity Office, governing the terms and conditions of the grant of
          restricted Shares (the “Share Award”) to you on ___.
	 
	 	 
	 
	 	This Summary and Agreement is subject to
          and governed by all the terms and conditions of the Plan, which are
          hereby incorporated by reference. In the event of any discrepancy between
          the terms and conditions of this Summary and Agreement and those of
          the Plan, the terms and conditions of the Plan (including amendments
          to the Plan) will control. Any other rights that may be granted to you
          under the Plan or rights that may be granted to other individuals will
          be described in separate documents for those individuals who are eligible
          to receive them.
	 	 	 
	 
          
	 	This Summary and Agreement includes a Glossary
          that defines certain words and phrases used in this Summary.

The effective date of the agreement reflected

in this document with respect to the Share Award is           .

     This Document Constitutes Part of a Prospectus Covering Securities that have been
Registered under the Securities Act of 1933

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The date of this Prospectus is ____________

     
  

    	

	 	 	 
	PLAN

            ADMINISTRATION 
	 	The Plan is administered by
          the Compensation Committee (the “Committee”) of Equity Office’s
          Board of Trustees (the “Board”), which consists of at least
          two non-employee members of the Board. The Board selects the Committee
          members and may remove Committee members at any time.
	 
	 	 
	 
	 	The Committee designates those individuals
          eligible to receive Share Awards under the Plan and determines the terms,
          conditions and restrictions governing the Share Awards.
	 
	 	 
	 
	 	The Committee has the power, in connection
          with the administration of the Plan, to interpret the terms, conditions
          and restrictions of the Plan and this Summary and Agreement and to take
          any actions it deems necessary to carry out the terms and purpose of
          the Plan. Any interpretation or action by the Committee with respect
          to the Plan is final and binding on each participant and his or her
          heirs and transferees. Members of the Committee can be reached at the
          address shown below.
	 	 	 
	

	 
	 	 
	ADDITIONAL

            INFORMATION 
	 	If you have any questions about the Plan
          or if you would like to receive a copy of the Plan, any additional information
          relating to the Plan or documents that have been filed by Equity Office
          with the Securities and Exchange Commission (including Equity Office’s
          latest annual report, the description of the Shares being registered
          and any other reports filed by Equity Office pursuant to the Securities
          Exchange Act of 1934, all of which are incorporated by reference herein),
          which are available without charge, upon written or oral request, you
          should contact Ms. Robin Mariella in the legal department at:

Equity Office Properties Trust

Two North Riverside Plaza

Suite 1600

Chicago, IL 60606

(312) 466-3646

robin_mariella@equityoffice.com

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	RESTRICTED

            SHARE AWARDS 
	 	Q 	 	What is a restricted Share Award?
	 
	 	 	 	 
	 
	 	A 	 	You were granted ___Shares as
          a restricted Share Award. A restricted Share Award is an issuance of
          Shares that you will forfeit (see page 6 of this Summary and Agreement)
          if you do not satisfy the vesting conditions established by the Committee
          (see page 5 of this Summary and Agreement). As of the “Grant Date”
          (as defined in the Glossary), you will have the right to vote the Shares
          and to receive an amount equal to dividends as and if declared. Your
          other rights as an Equity Office shareholder with respect to the awarded
          Shares will be restricted.

The Committee determines the terms, conditions
          and restrictions that apply to each Share Award granted under the Plan.
          In no event, however, may the terms, conditions and restrictions be
          inconsistent with those of the Plan. Further, the grant of a Share Award
          does not confer upon you the right to be retained in the “Service”
          of Equity Office. For purposes of the Plan, your Service ends when you
          no longer perform services as an employee, officer or trustee of Equity
          Office or any [“Extended Company”]
[“Subsidiary”] (as defined in the Plan).
	 
	 	 	 	 
	 
	 	Q 	 	Will share certificates be issued in
          my name at the time of grant?
	 
	 	 	 	 
	 
	 	A 	 	No. At the time of grant, Equity Office
          will reflect your ownership by book entry. For a fee, Fidelity will
          issue share certificates upon your request after you become vested in
          the Shares. Those employees who are eligible to participate in the Equity
          Office Supplemental Retirement Savings Plan (“SERP”) and have
          elected to defer receipt of their Shares by exchanging them for Phantom
          Share Units under the SERP also may be issued share certificates when
          Shares are distributed from the SERP in exchange for such Phantom Share
          Units.

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	 	Q
	 	Can I defer my Shares into the SERP?
	 
	 	 	 	 
	

	 	A
	 	If you are eligible to participate in the SERP, you will have until
December 31 of the year prior to the year in which the Share Award is made
to make an election to defer receipt of the Shares into the SERP by
exchanging them for Phantom Share Units under the SERP at the time the
Shares vest (see page 5 of this Summary and Agreement).

	 
	 	 	 	 
	

	 	Q
	 	Can I transfer my Share Award?
	 
	 	 	 	 
	

	 	A
	 	You may not sell, assign or otherwise transfer any non-vested Shares.
Any attempt to do so will be void and without effect. However, when you
become vested in the awarded Shares, you will have the right to transfer
the Shares. If you are eligible to elect to defer receipt of Shares under
the SERP, transferability of the Phantom Share Units credited to your
account under the SERP will be controlled by the SERP plan document.
	 
	 	 	 	 
	

	 	Q
	 	Are there times when I cannot transfer my vested Shares?
	 
	 	 	 	 
	

	 	A
	 	Yes. There may be times when Equity Office’s Chief Legal Counsel
imposes a “blackout period” because of the existence or potential
existence of significant non-public information, such as a large
acquisition or earnings that differ from stock market expectations, or if
Equity Office conducts an additional offering to sell more Shares. During
these times, you may have to temporarily wait to sell your vested Shares,
whether or not such information is communicated to you.

In addition, while an employee, if you are restricted to trading within
the window periods established under Equity Office’s insider trading
policy (as determined by the Chief Legal Counsel), you cannot sell any
vested Shares (or any other holdings of Equity Office shares) outside of
the window periods following the release of quarterly financial
information, or otherwise in violation of any trading policy established
by Equity Office’s Chief Legal Counsel and applicable to you.
	 
	 	 	 	 
	

	 	 	 	If you are an “affiliate” of Equity Office under the federal

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	 	 	 	securities laws, your sales of Shares must
          comply with Rule 144. You will be advised if you are subject to
          Rule 144.
	 	 	 	 	 
	

	 
	 	 	 	 
	VESTING
          
	 	Q 	 	When will I become vested in the awarded
          Shares?
	 
	 	 	 	 
	 
	 	A 	 	You will become vested in           
          percent (___%) of the awarded Shares on the ___anniversary
          of the Grant Date and will be vested in an additional           
          percent (___%) of the Shares on each of the           
          anniversaries of the Grant Date.
	 
	 	 	 	 
	 
	 	Q 	 	What if there are any fractional Shares
          at the time of vesting?
	 
	 	 	 	 
	 
	 	A 	 	Any fractional shares will be rounded down
          to the next whole Share. The fractional shares shall remain unvested
          until, when combined with other fractional shares that would otherwise
          be vested, they equal a whole share.
	 
	 	 	 	 
	 
	 	Q 	 	Are there any other circumstances under
          which I will vest in the awarded Shares?
	 
	 	 	 	 
	 
	 	A 	 	Yes. You will become fully vested in the
          Shares if your Service with Equity Office terminates:

	 	•  	because of your death or “Disability” (as defined in the Glossary);
	 
	 	•  	  in connection with your retirement at or after age 62;
	 
	 	•  	following a “Change in Control” (as defined in the Glossary) of Equity Office; or
	 
	 	•  	under circumstances that the “Plan Administrator” (as defined in the Glossary) deems to warrant full vesting.

    	 	 	 	 	 
	

	 	 	 	 	 
	FORFEITURE
          
	 	Q 	 	What happens if I leave Equity Office
          before I vest in the awarded Shares?
	 
	 	 	 	 
	 
	 	A 	 	Unless your Service terminates because of
          death, Disability or retirement or following a Change in Control of
          Equity Office or under circumstances the Plan Administrator deems to
          warrant vesting some or all of your non-vested Shares, you will forfeit
          to Equity Office any non-vested Shares upon your termination of Service
          with Equity Office and all [Extended Companies]
[Subsidiaries].

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	TAX
	 	Q 	 	When do I pay tax on the restricted Share
          Award?
	
            CONSEQUENCES
	 	 	 	 
	 
          
	 	A 	 	Normally you do not recognize compensation
          (ordinary) income at the time you receive a restricted Share Award.
          As your Shares vest, you will recognize ordinary income in an amount
          equal to the “Fair Market Value” (as defined in the Glossary)
          of the vested Shares and you will be subject to income taxes and FICA
          (Medicare and social security taxes) on that amount. Equity Office’s
          designated agent for the Plan Administrator (currently Fidelity Investments)
          will provide you with a calculation of the tax due.
	 
	 
	 	 	 	Alternatively, you may choose one of the
          following options which means that the amount of tax you pay and the
          time at which you pay it will differ as explained below:

  Option 1
  
Section 83(b)
    Election. Under Internal Revenue Service (“IRS”)
    rules, you may elect to recognize as ordinary income and pay tax on the Fair
    Market Value of your Shares as of the Grant Date, rather than as of the date(s)
    your Shares vest. To elect this method of recognizing income for purposes
    of tax treatment, you must complete and file an §83(b) Election (“83(b)
    Election”) form with the IRS within thirty (30) days of the restricted
    Share Grant Date and provide a copy to Equity Office’s human resources
    department. You will also need to attach a copy of your 83(b) Election form
    to your tax return when you file for the calendar year. You should note
    that an 83(b) Election is irrevocable upon submission.
  
If you choose to file an 83(b) Election, you will be required at that time
to pay the total applicable tax withholding due, which will include income
taxes and FICA, based on the ordinary income recognized under the
election. Equity Office will provide you with a calculation of the tax
due.

Please be advised: If, under the terms of the Restricted Share Agreement,
you fail to vest in your restricted shares, you will not be eligible to
claim any deduction or credit for the taxes paid pursuant to your
irrevocable

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83(b) Election regarding those shares.

  
Option 2
  
SERP Deferment.
    If you are eligible to participate in the SERP and you elect to defer
    receipt of your Shares by exchanging them for Phantom Share Units, you will
    be required to pay FICA when the Shares vest, and Equity Office or its agent
    will provide you with a calculation of the tax due. You will recognize ordinary
    income (and be subject to income taxes) in an amount equal to the Fair Market
    Value of the Shares when the Shares (or their proceeds) are distributed to
    you.
  

    	 	 	 	 	 
	 
	 	Q 	 	What is the tax treatment for dividends
          received under a restricted Share Award?
	 	 	 	 	 
	 
	 	A 	 	Any dividends received on non-vested Shares
          will be treated as compensation includable in your gross income reported
          on IRS Form W-2 (if you did not file an 83(b) Election for the
          Shares) or Form 1099-DIV (if you filed an 83(b) Election for the
          Shares) and in either case taxed as ordinary income.
	 	 	 	 	 
	 
	 	Q 	 	Is any income I recognize with respect
          to the awarded Shares subject to any withholding taxes and how will
          I pay my taxes?
	 	 	 	 	 
	 
	 	A 	 	Yes. Any income you recognize with respect
          to the awarded Shares is subject to all tax withholding requirements.
          Payment of part or all of the required withholding taxes may be satisfied
          as follows:

	 	•  	you may elect to sell unrestricted Shares through Equity Office’s
designated broker (currently Fidelity Investments) to satisfy all tax
withholding requirements provided that you are in compliance with Equity
Office’s insider trading policy. Executive officers of Equity Office
subject to Section 16 of Securities Exchange Act of 1934 must obtain prior
approval from the Chief Legal Counsel to sell Shares to satisfy tax
withholding requirements.
	 
	 	•  	Equity Office may withhold from any amounts payable to you as
compensation, or otherwise, an amount necessary to satisfy all tax
withholding requirements;

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	 	•  	you may elect to deliver to Equity Office’s designated broker
(currently Fidelity Investments) any unrestricted Shares having a Fair
Market Value determined as of the date of such delivery equal to the
amount required to be withheld;
	 
	 	•  	Equity Office may permit any delivery of unrestricted Shares to be
made by withholding Shares otherwise issuable pursuant to the Share Award
equal to the amount required to be withheld: or
	 
	 	•  	you may remit to Equity Office’s agent for the Plan Administrator
(currently Fidelity Investments) an amount sufficient to satisfy payment
of the taxes.

    	 	 	 	 	 
	

	 	 	 	 	 
	ELIGIBILITY
          
	 	Q 	 	Who is eligible to participate in the
          Plan?
	 	 	 	 	 
	 
	 	A 	 	Certain employees, officers, trustees and
          consultants of Equity Office and its [Related Companies] [Subsidiaries]
are eligible
          to receive a restricted Share Award. The Committee designates the individuals
          who receive awards under the Plan.
	 	 	 	 	 
	

	 	 	 	 	 
	SHARES
            SUBJECT TO

            THE PLAN 
	 	 	 	The maximum aggregate number of Shares of
          Equity Office for which awards may be granted under the Plan shall not
          exceed
[6.8% of the outstanding Shares, calculated on a fully diluted
          basis (but excluding Shares subject to options under the Equity Office
          Properties Trust 2003 Share Option and Share Incentive Plan) and determined
          annually on the first day of each calendar year. No more than one-half
          of the maximum aggregate number of Shares may be granted as Share Awards
          under the Plan][20,000,000 Shares. No more than 10,000,000 Shares may be available for issuance pursuant to Awards other than Awards of options]. To the extent that options granted under the Plan expire
          unexercised or are terminated, surrendered or canceled, the Shares allocated
          to such options shall again become available for future grants under
          the Plan, unless the Plan has terminated.

8

 

    	 	 	 	 	 
	 
	 	 	 	In the event of any change in the outstanding
          Shares due to a Share dividend, split, recapitalization, merger, consolidation,
          combination, exchange or similar change, the number of Shares reserved
          for issuance under the Plan and Shares subject to outstanding awards
          shall be proportionately adjusted by the Committee such that the value
          of the Shares available for awards under the Plan and the value of Shares
          subject to outstanding awards remains unchanged.
	 	 	 	 	 
	 
	 	 	 	The Committee may make this adjustment in
          any manner it deems equitable; however, in no event shall:

	 	•  	the exercise price of an option be adjusted below par value of the Shares; or

	 	•  	any fractional Shares be issued upon the exercise of an option.

If the adjustment results in fractional Shares, cash shall be issued upon the exercise of an option in lieu of
any fractional Shares.

If you receive cash or another security in exchange for a non-vested Share in connection with any of the
foregoing, any conditions and restrictions applicable to the Share will continue to apply to the cash or
property received until the Share would have vested.

    	 	 	 	 	 
	

	MORE
            INFORMATION

            ABOUT SHARES 
	 	 	Equity Office Properties Trust Shares are
          traded on the New York Stock Exchange under the symbol “EOP.”
          Like other publicly traded shares, the price for Shares will vary due
          to many factors, such as:

	 	•  	general economic and political conditions,

	 	•  	tax and interest rates,

	 	•  	actual and expected changes in our earnings as compared to past results,

	 	•  	comparisons with the earnings of other public companies, and

	 	•  	other factors over which Equity Office has no control.

9

 

    	 	 	 	 	 
	

	SECTION
            16

            TRUSTEES &

            OFFICERS OF

            EQUITY OFFICE 
	 	 	 	Rules promulgated under Section 16
          of the Securities Exchange Act of 1934 apply to Plan transactions by
          executive officers and trustees of Equity Office. Such individuals must
          consult Equity Office’s Chief Legal Counsel or his designee, prior
          to selling or transferring any Shares acquired under the Plan.
	 	 	 	 	 
	

	 	 	 	 	 
	DURATION,

            MODIFICATION & TERMINATION OF THE PLAN 
	 	 	 	Unless terminated earlier, the Plan will
          expire on June 30, 2007 and no awards may be granted under the
          Plan after that date. Notwithstanding the foregoing, Equity Office reserves
          the right to amend or terminate the Plan at any time, subject to the
          approval of Equity Office’s shareholders as may be required by
          law. Any amendment or termination of the Plan will not alter or impair
          any Share Award previously granted to you without your consent.
	 	 	 	 	 
	

	 	 	 	 	 
	APPLICABLE
            LAWS 
	 	 	 	The Plan is not subject to the Employee
          Retirement Income Security Act of 1974, as amended, and is not qualified
          under Section 401(a) of the Internal Revenue Code of 1986, as amended.
	 	 	 	 	 
	

	 
	 	 	 	 
	NOTICES
          
	 	 	 	All notices under the agreement incorporated
          in this Summary and Agreement shall be in writing and sent by certified
          mail or by a nationally recognized overnight delivery service, postage
          or charges prepaid. All notices to Equity Office should be addressed
          to the attention of the Chief Legal Counsel and sent to the address
          provided on page 2 of this Agreement. All notices to you will be sent
          to your last known address on the records of Equity Office.
	 
	 	 	 	 
	 
	 	 	 	Any such written notice or communication
          given by mail will be deemed to have been given two (2) business
          days after the date the notice or communication was mailed; or, if sent
          by an overnight delivery service, it shall be deemed to have been given
          one (1) business day after the date sent.

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	SIGNATURE
            ON

            AGREEMENT 
	 	 	 	Your electronic acceptance of this Agreement
          will serve as your execution of this Agreement. To electronically accept
          this Agreement you must log on to Fidelity Investments website, open
          your restricted share account and click on “agreement acceptance”.
          By electronically accepting this agreement, Equity Office and you agree
          that the Share Award shall be subject to the terms, conditions and restrictions
          of this Agreement and the Plan.

    	 	 	 
	 
	EQUITY OFFICE PROPERTIES TRUST
	 
	 	 
	 
	By:
	 
	 	

	 
	 	 
	 
	Its:
	 
	 	

	 
	 	 
	 
	GRANTEE
	 
	 	 
	 
	

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GLOSSARY OF TERMS

A Change in Control shall be deemed to occur upon:

	[•  	the acquisition by any entity, person or group of more than fifty
percent (50%) of the outstanding Shares of Equity Office from the
holders thereof;

	•  	a merger or consolidation of Equity Office with one (1) or more
other entities, as a result of which the holders of all
outstanding Shares immediately prior to such merger hold less than
fifty percent (50%) of the shares of beneficial ownership of the
surviving or resulting corporation; or

	•  	a direct or indirect transfer of substantially all of the property
of Equity Office other than to an entity of which Equity Office
directly or indirectly owns at least fifty percent (50%) of the
shares of beneficial ownership.]

	[•  	the acquisition by any entity, person or group of more than thirty percent (30%) of the combined
voting power of the outstanding voting securities of Equity Office;
	 
	•  	approval by shareholders of Equity Office of a merger, consolidation or reorganization of Equity
Office with one (1) or more other entities, as a result of which the holders of all outstanding
voting securities of Equity Office immediately prior to such transaction hold less than seventy
percent (70%) of the combined voting power of the outstanding voting securities of the surviving or
resulting corporation in substantially the same relative proportion as their ownership of the
outstanding voting securities of Equity Office immediately before the transaction and the incumbent
members of the Board of Trustees of Equity Office immediately before the transaction do not
constitute at least a majority of the members of the board of the resulting corporation; or
	 
	•  	approval by shareholders of Equity Office of a complete liquidation or dissolution of Equity
Office; or
	 
	•  	the rejection by the voting beneficial owners of the outstanding Shares of the entire slate of
trustees proposed by the Board at a single election of trustees; or
	 
	•  	the rejection by the voting beneficial owners of the outstanding Shares of one-half or more of the
trustees proposed by the Board over any two or more consecutive elections of trustees; or
	 
	•  	approval by shareholders of Equity Office of an agreement for the sale of substantially all of
the assets of Equity Office other than to an entity of which Equity Office directly or indirectly
owns at least seventy percent (70%) of the voting share.]

Committee means the Compensation Committee of the Board of Trustees of Equity Office.

Disability means a physical or mental condition that entitles a participant to benefits under the
employer-sponsored long-term disability plan in which he or she participates, as determined by the
Plan Administrator in its sole and absolute discretion.

Equity Office means Equity Office Properties Trust, the sponsor of the Plan.

The Fair Market Value of a Share means different things for different purposes. Please refer to
the Plan document for the applicable definition.

Grant Date means the date you receive a Share Award and, for purposes of this Summary, is
          .

Phantom Share Unit means a bookkeeping entry representing an obligation of the Company to pay the
value of Shares that vested and that you elected to defer receipt of by participating in the SERP.

Plan means the
Equity Office Properties Trust
[1997 Share Option and Share Award Plan][2003 Share Option and Share Incentive Plan], as amended
from time to time.

Plan Administrator means the President and Chief Executive Officer of the Company and any one
member of the Committee, or the full Committee. Notwithstanding the foregoing, where the affected
Grantee is a “covered employee” for purposes of Section 162(m) of the Code:

	•  	any authority of the Plan Administrator under the Plan may be exercised only if the
exercise of such authority would not cause the related Share Award, to fail to constitute
performance- based compensation on its Grant Date under Treasury Regulation Section 1.162-27;
and

12

 

	•  	“Plan Administrator” means the full Committee only if the exercise of such authority by the
President and Chief Executive Officer and any one member of the Committee would adversely
affect the grant’s status as performance-based compensation and its exercise by the full
Committee would not so affect such status.

Service means your performance of services as an employee, officer or trustee for Equity Office or
any [Extended Company][Subsidiary].

Share Award means the grant of an award of Shares reflected herein.

Shares means common shares of beneficial ownership of Equity Office, having a par value of $.01.

Vested means the Shares are no longer subject to any substantial restrictions, other than those
arising under federal securities laws.

13Ex-10.1 Indemnification Agreement

 

Exhibit 10.1

INDEMNIFICATION AGREEMENT

     This INDEMNIFICATION AGREEMENT (“Agreement”) is entered into and effective this 17th day of
February, 2005, by and between ABLEST INC., a Delaware corporation (the “Company”), and
___(“Indemnitee”).

     WHEREAS, highly competent persons are becoming more reluctant to serve publicly-held
corporations as directors or officers unless they are provided with adequate protection through
insurance and adequate indemnification against inordinate risks of claims and actions against them
arising out of their service to and activities on behalf of the corporation;

     WHEREAS, Indemnitee is a director or officer of the Company;

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

     WHEREAS, the current impracticability of obtaining adequate insurance and the uncertainties
relating to indemnification have increased the difficulty of attracting and retaining such persons;

     WHEREAS, the Board of Directors of the Company has determined that the inability to attract
and retain such persons would be detrimental to the best interests of the Company and its
stockholders and that the Company should act to assure such persons that there will be increased
certainty of such protection in the future;

     WHEREAS, the Certificate of Incorporation (the “Certificate”) of the Company requires the
Company to indemnify and advance expenses to its directors and officers to the fullest extent
permitted by Delaware law and the Indemnitee has been serving and continues to serve as a director
or officer of the company in part in reliance on such provisions of the Certificate; and

     WHEREAS, in recognition of Indemnitee’s need for substantial protection against personal
liability so that Indemnitee may continue to serve the Company free from undue concern for
litigation claims for damages arising out of or related to the performance of such service, the
increasing difficulty in obtaining satisfactory director and officer liability insurance and
Indemnitee’s reliance on the aforesaid Certificate, and in part to provide Indemnitee with specific
contractual assurance that the protection promised by such Certificate will be available to
Indemnitee (regardless of, among other things, any amendment to or revocation of such Certificate,
or any significant change in the composition of the Company’s Board of Directors, or any
acquisition transaction relating to the Company), it is reasonable, prudent and necessary for the
Company to provide in this Agreement for the indemnification of and the advancing of expenses to
Indemnitee to the fullest extent (whether partial or complete) permitted by law and as set forth in
this Agreement, and, to the extent insurance is maintained, for the continued coverage of
Indemnitee under the Company’s directors’ and officers’ liability insurance policies.

 

 

     NOW, THEREFORE, in consideration of the foregoing premises and of Indemnitee continuing to
serve the Company directly or, at its request, another enterprise, and intending to be legally
bound thereby, the parties hereto agree as follows:

ARTICLE I

DEFINITIONS

     For the purposes of this Agreement, the following terms shall have the meaning given here:

     1.1 “Board” shall mean the Board of Directors of the Company.

     1.2 “Change in Control” shall be deemed to have occurred if (i) any “person” (as such term is
used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended), other than
(x) a trustee or other fiduciary holding securities under an employee benefit plan of the Company,
(y) a corporation owned directly or indirectly by the stockholders of the Company in substantially
the same proportions as their ownership of stock of the Company or (z) any person (or group of
persons) beneficially owning, directly or indirectly, [15%] or more of the Company’s outstanding
Voting Securities as of the date of this Agreement, is or becomes the “beneficial owner” (as
defined in Rule 13d-3 under said Act), directly or indirectly, of securities of the Company
representing [15%] or more of the total voting power represented by the Company’s then outstanding
Voting Securities, or (ii) during any period of two consecutive years, individuals who at the
beginning of such period constitute the Board of Directors of the Company and any new director
whose election by the Board of Directors or nomination for election by the Company’s stockholders
was approved by a vote of at least two-thirds (2/3) of the directors then still in office who
either were directors at the beginning of the period or whose election or nomination for election
was previously so approved, cease for any reason to constitute a majority thereof, or (iii) the
stockholders of the Company approve a merger or consolidation of the Company with any other
corporation other than a merger of consolidation which would result in the Voting Securities of the
Company outstanding immediately prior thereto continuing to represent (either by remaining
outstanding or by being converted into Voting Securities of the surviving entity) at least [85%] of
the total voting power represented by the Voting Securities of the Company or such surviving entity
outstanding immediately after such merger or consolidation, or the stockholders of the Company
approve a plan of complete liquidation of the Company or an agreement for the sale or disposition
by the Company of (in one transaction or a series of transactions) all or substantially all the
Company’s assets.

     1.3 “Corporate Status” describes the status of a person who is or was a director, officer,
employee, trustee, agent or fiduciary of the Company or of any other corporation, partnership,
joint venture, trust, employee benefit plan or other enterprise which such person is or was serving
at the express written request of the Company.

     1.4 “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 the Indemnitee.

2

 

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

     1.6 “Expenses” shall include all 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, costs, expenses and
obligations paid or insured in connection with investigating, prosecuting, defending, being a
witness in, or participating in (including on appeal), or preparing to prosecute, defend, be a
witness in, or participate in, any Proceeding relating to any Indemnifiable Event.

     1.7 “Good Faith” shall mean Indemnitee having 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 Proceeding, having had no reasonable cause to believe Indemnitee’s conduct was
unlawful.

     1.8 “Indemnifiable Event” shall mean any event or occurrence (including events or occurrences
prior to the date hereof) related to the fact that Indemnitee is or was a director, officer,
employee, agent or fiduciary of the Company or another Enterprise, or by reason of anything done or
not done by Indemnitee in any such capacity.

     1.9 “Independent Legal Counsel” shall mean an attorney or firm of attorneys, selected in
accordance with the provisions of Section 7.1, who shall not have otherwise performed services for
the Company or Indemnitee within the last five years (other than with respect to matters concerning
the rights of Indemnitee under this Agreement, or of other indemnities under similar indemnity
agreements).

     1.10 “Potential Change in Control” shall be deemed to have occurred if: (i) the Company
enters into an agreement, the consummation of which would result in the occurrence of a Change in
Control; (ii) any person (including the Company) publicly announces an intention to take or to
consider taking actions which if consummated would constitute a Change in Control; or (iii) the
Board adopts a resolution to the effect that, for purposes of this Agreement, a Potential Change in
Control has occurred.

     1.11 “Proceeding” includes any action, suit, arbitration, alternate dispute resolution
mechanism, investigation, administrative hearing or any other actual, threatened or completed
proceeding, whether civil, criminal, administrative or investigative.

     1.12 “Voting Securities” shall mean any securities of the Company which vote generally in the
election of directors.

ARTICLE II

INDEMNIFICATION

     2.1 In General. The Company shall indemnify and advance Expenses to Indemnitee in
connection with any Proceeding by reason of (or arising in part out of) an

3

 

Indemnifiable Event as provided in this Agreement and to the fullest extent permitted by
applicable law in effect on the date hereof and to such greater extent as applicable law may
thereafter from time to time permit. Prior to a Change in Control, Indemnitee shall not be
entitled to indemnification (including any advancement of Expenses) pursuant to this Agreement in
connection with any Proceeding initiated by Indemnitee unless either (i) the Board of Directors has
authorized or consented to the initiation of such Proceeding, or (ii) such Proceeding seeks to
enforce Indemnitee’s rights under this Agreement.

     2.2 Basic Indemnification Arrangement. If Indemnitee was or is a party or is
threatened to be made a party to any Proceeding by reason of (or arising in part out of) an
Indemnifiable Event, the Company shall indemnify Indemnitee to the fullest extent permitted by law
as soon as practicable, but in any event no later than [thirty (30)] days after written demand is
presented to the Company, against any and all Expenses, judgments, fines, ERISA excise taxes or
penalties, and amounts paid in settlement (including all interest, assessments, and other charges
paid or payable in connection with or in respect of such Expenses) actually and reasonably incurred
by or for him or her in connection with the investigation, defense, settlement or appeal of such
Proceeding or any claim, issue or matter therein, provided that Indemnitee acted in Good Faith. If
so requested by Indemnitee, the Company shall advance (within [two (2) business] days of such
request) any and all such Expenses to Indemnitee (an “Expense Advance”). The obligation of the
Company to make an Expense Advance pursuant to this Section 2.2 shall be subject to the condition
that, if, when and to the extent that it is determined by the forum selected by Indemnitee pursuant
to Section 4.3 that Indemnitee would not be permitted to be so indemnified under applicable law,
the Company shall be entitled to be reimbursed by Indemnitee (who hereby agrees to reimburse the
Company) for all such amounts theretofore paid; provided that the Company’s obligation to make the
Expense Advances under this Section 2.2 or any advance of Expenses under Article III shall not be
qualified or conditioned in any manner by the Company on the Indemnitee’s ability to reimburse the
Company; and provided, further, that if Indemnitee has commenced or thereafter commences legal
proceedings in a court of competent jurisdiction to secure a determination that Indemnitee should
be indemnified under applicable law, any determination made by such forum that Indemnitee would not
be permitted to be indemnified under applicable law shall not be binding and Indemnitee shall not
be required to reimburse the Company for any Expense Advance until a final judicial determination
is made with respect thereto (as to which all rights of appeal therefrom have been exhausted or
lapsed).

     2.3 Indemnification 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 an
Indemnifiable Event, 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, against any and all
Expenses and liabilities of any type whatsoever (including, but not limited to, judgments, fines,
ERISA excise taxes or penalties, and amounts paid in settlement) actually and reasonably incurred
by or for him or her 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, to the
maximum extent permitted by law, against all Expenses and liabilities of any type whatsoever
(including, but not limited to, judgments, fines, ERISA taxes or penalties, and amounts paid in
settlement) actually and reasonably incurred by or for him in connection with

4

 

each successfully resolved claim, issue or matter. For purposes of this Section 2.3 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, so long as there has been no finding (either adjudicated or pursuant to Article
IV) that Indemnitee did not act in Good Faith.

ARTICLE III

INDEMNIFICATION AND ADVANCEMENT

FOR ADDITIONAL EXPENSES

     Notwithstanding any other provision in this Agreement to the contrary, the Company shall
indemnify Indemnitee against any and all Expenses (including attorney’s fees) actually and
reasonably incurred by Indemnitee and, if requested by Indemnitee, shall (within [two (2) business]
days of such request) advance such Expenses to Indemnitee, which are actually and reasonably
incurred by Indemnitee in connection with (i) any hearing or proceeding under Article IV involving
Indemnitee and against all Expenses actually and reasonably incurred by Indemnitee in connection
with any other action between the Company and Indemnitee involving the interpretation or
enforcement of the rights of Indemnitee under this Agreement, and/or (ii) any action brought by
Indemnitee for recovery 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, advance expense payment or insurance recovery, as the case may be. The obligation
of the Company to make the expense advance pursuant to this Article III shall be subject to the
condition that if, when and to the extent that a final judicial determination is made that
Indemnitee would not be permitted to be so indemnified under applicable law, the Company shall be
entitled to be reimbursed by Indemnitee (who hereby agrees to reimburse the Company) for all such
amounts theretofore paid.

ARTICLE IV

DETERMINATION OF RIGHT TO INDEMNIFICATION

     4.1 No Determination Necessary When Indemnitee Was Successful. To the extent
Indemnitee has been successful on the merits or otherwise in defense of any Proceeding referred to
in Section 2.2 of this Agreement or in the defense of any claim, issue or matter described therein,
the Company shall indemnify Indemnitee against Expenses actually and reasonably incurred by or for
Indemnitee in connection with the investigation, defense, or appeal of such Proceeding.

     4.2 Determination of Good Faith. In the event that Section 4.1 is inapplicable, the
Company shall also indemnify Indemnitee unless, and only to the extent that, the Company shall
prove by clear and convincing evidence to a forum listed in Section 4.3 below that Indemnitee did
not act in Good Faith.

     4.3 Forum for Determination. Indemnitee shall be entitled to select the forum in
which the validity of the Company’s claim under Section 4.2 hereof that Indemnitee is not entitled
to indemnification will be heard from among the following:

5

 

          (a) A committee of the Disinterested Directors, even though the Disinterested
Directors may be less than a quorum;

          (b) The stockholders of the Company;

          (c) Legal counsel selected by Indemnitee, and reasonably approved by the Board,
which counsel shall make such determination in a written opinion; or

          (d) A panel of three arbitrators, one of whom is selected by the Company,
another of whom is selected by Indemnitee and the last of whom is selected by the
first two arbitrators so selected.

As soon as practicable, and in no event later than thirty (30) days after written notice of
Indemnitee’s choice of forum pursuant to this Section 4.3, the Company shall, at its own expense,
submit to the selected forum in such manner as Indemnitee or Indemnitee’s counsel may reasonably
request, its claim that Indemnitee is not entitled to indemnification, and the Company shall act in
good faith to assure Indemnitee a complete opportunity to defend against such claim.

     4.4 Right to Appeal. In the case of a determination by any forum listed in Section
4.3 hereof that Indemnitee is not entitled to whole or partial indemnification with respect to a
specific Proceeding, or a failure by any such forum to make any determination, Indemnitee shall
have the right to apply to the court in which that Proceeding is or was pending for the purpose of
enforcing Indemnitee’s right to indemnification pursuant to this Agreement or to commence
litigation in any court in the State of [Florida] having subject matter jurisdiction thereof and in
which venue is proper seeking an initial determination by the court or challenging any such
determination by such forum or any aspect thereof, including the legal or factual basis therefore,
and the Company hereby consents to service of process and to appear in any such proceeding. Any
determination of such forum otherwise shall be conclusive and binding on the Company and
Indemnitee.

ARTICLE V

PRESUMPTIONS AND

EFFECT OF CERTAIN PROCEEDINGS

     5.1 Burden of Proof. 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 and the Company shall have the
burden of proof to overturn that presumption in connection with the making by any person, persons
or entity of any determination contrary to that presumption.

     5.2 Effect of Other Proceedings. 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 of itself adversely affect the right of Indemnitee to
indemnification or create a presumption that Indemnitee did not act in Good Faith. In addition,
neither the failure of any forum listed in Section 4.3 to have made a determination as to whether
Indemnitee has met any particular standard of conduct or had any particular belief, nor an actual

6

 

determination by any such forum that Indemnitee has not met such standard of conduct or did
not have such belief, prior to the commencement of legal proceedings by Indemnitee to secure a
judicial determination that Indemnitee should be indemnified under applicable law shall be a
defense to Indemnitee’s claim or create a presumption that Indemnitee has not met any particular
standard of conduct or did not have any particular belief.

     5.3 Reliance as Safe Harbor. To the extent permitted under applicable law, for
purposes of any determination of Good Faith, 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 Company, including
financial statements, or on information supplied to Indemnitee by the officers of the Company in
the course of their duties, or on the advice of legal counsel for the Company or on information or
records given or reports made to the Company by an independent registered public accounting firm or
by an appraiser or other expert selected with reasonable care by the Company. The provisions of
this Section 5.3 shall not be deemed to be exclusive or to limit in any way the other circumstances
in which the Indemnitee may be deemed to have met the applicable standard of conduct set forth in
this Agreement.

     5.4 Actions of Others. The knowledge and/or actions, or failure to act, of any
director, officer, agent or employee of the Company shall not be imputed to Indemnitee for purposes
of determining the right to indemnification under this Agreement.

ARTICLE VI

NON-EXCLUSIVITY, INSURANCE,

SUBROGATION, PERIOD OF LIMITATIONS

     6.1 Non-Exclusivity. The rights of indemnification and to receive advances of
Expenses 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 Certificate, the By-laws, any
agreement, a note of stockholders or a resolution of directors, or otherwise.

     6.2 Insurance. The Company may maintain an insurance policy or policies against
liability arising out of this Agreement or otherwise, and to the extent that the Company maintains
such a policy or policies, 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 Company director
or officer.

     6.3 Subrogation. 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, 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.

     6.4 No Duplicative Payment. The Company shall not be liable under this Agreement to
make any payment of amounts otherwise indemnifiable hereunder if and to the extent that the
Indemnitee has otherwise actually received such payment under the Certificate or any insurance
policy, By-law, contract, agreement or otherwise.

7

 

     6.5 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 spouse, heirs,
executors or personal or legal representatives after the expiration of [two years] from the date of
the facts which gave rise to 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.

ARTICLE VII

CHANGE IN CONTROL

     7.1 Change in Control. The Company agrees that if there is a Change in Control of the
Company, then with respect to all matters thereafter arising concerning the rights of Indemnitee to
indemnity payments and advances of any Expenses under this Agreement, or any other provision(s)
under any agreement or the Company’s Certificate or By-laws now or hereafter in effect relating to
Proceedings for Indemnifiable Events, the Company shall seek legal advice only from Independent
Legal Counsel selected by Indemnitee and approved by the Company (which approval shall not be
unreasonably withheld). Such counsel, among other things, shall render its written opinion to the
Company and Indemnitee as to whether and to what extent the Indemnitee would be permitted to be
indemnified under applicable law. The Company agrees to pay the reasonable fees of the Independent
Legal Counsel referred to above and to indemnify fully such counsel against any and all expenses
(including attorney’s fees), claims, liabilities and damages arising out of or relating to this
Agreement or its engagement pursuant hereto.

     7.2 Establishment of Trust. In the event of a Potential Change in Control, the
Company shall, upon written request by Indemnitee, create a trust for the benefit of Indemnitee and
from time to time upon written request of Indemnitee shall fund such trust in an amount sufficient
to satisfy any and all Expenses reasonably anticipated at the time of each such request to be
incurred in connection with investigating, preparing for and defending any Claim relating to an
Indemnifiable Event, and any and all judgments, fines, penalties and settlement amounts of any and
all Claims relating to an Indemnifiable Event from time to time actually paid or claimed,
reasonably anticipated or proposed to be paid. The amount or amounts to be deposited in the trust
pursuant to the foregoing funding obligation shall be determined by the Independent Legal Counsel
referred to in Section 7.1. The terms of the trust shall provide that upon a Change in Control (i)
the trust shall not be revoked or the principal thereof invaded, without the written consent of the
Indemnitee, (ii) the trustee shall advance, within [two (2) business] days of a request by the
Indemnitee, any and all Expenses to the Indemnitee (and the Indemnitee hereby agrees to reimburse
the trust under the circumstances under which the Indemnitee would be required to reimburse the
Company under Section 2.2 of this Agreement), (iii) the trust shall continue to be funded by the
Company in accordance with the funding obligation set forth above, (iv) the trustee shall promptly
pay to Indemnitee all amounts for which Indemnitee shall be entitled to indemnification pursuant to
this Agreement or otherwise, and (v) all unexpended funds in such trust shall revert to the Company
upon a final determination by any forum listed in Section 4.3 or a court of competent jurisdiction,
as the case may be, that Indemnitee has been

8

 

fully indemnified under the terms of this Agreement. The trustee shall be chosen by
Indemnitee. Northing in this Section 7.2 shall relieve the Company of any of its obligations under
this Agreement.

ARTICLE VIII

NOTICE TO COMPANY; DEFENSE OF CLAIMS

     The Indemnitee agrees to promptly notify the Company in writing upon being served with or
having actual knowledge of any citation, summons, complaint, indictment or any other similar
document relating to any Proceeding which may result in a claim of indemnification, contribution or
advancement of Expenses hereunder, but the omission so to notify the Company will not relieve the
Company from any liability which it may have to the Indemnitee under this Agreement unless the
Company shall have been [materially] [irreparably] prejudiced by such omission. With respect to
any such Proceeding as to which the Indemnitee notifies the Company of the commencement thereof,
(1) the Company shall be entitled to participate therein at its own expense and (2) except as
otherwise provided below, to the extent that it may wish, the Company (or any other indemnifying
party, including any insurance carrier, similarly notified by the Indemnitee and/or the Company)
shall be entitled to assume the defense thereof, with counsel selected by the Company (or such
other indemnifying party) and reasonably satisfactory to the Indemnitee. After notice from the
Company (or such other indemnifying party) to the Indemnitee of its election to assume the defense
of an Proceeding, the Company shall not be liable to the Indemnitee under this Agreement for any
Expenses subsequently incurred by the Indemnitee 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 his or her counsel in such Proceeding but the Expenses of such counsel incurred
after notice from the Company (or such other indemnifying party) of its assumption of the defense
thereof shall be at the expense of the Indemnitee unless: (i) the employment of counsel by the
Indemnitee has been authorized by the Company; (ii) the Indemnitee shall have reasonably concluded
that there may be a conflict of interest between the Company (or such other indemnifying party) and
the Indemnitee in the conduct of the defense of such Proceeding; or (iii) the Company (or such
other indemnifying party) shall not in fact have employed counsel to assume the defense of such
Proceeding, in each of which cases the reasonable Expenses of counsel shall be at the expense of
the Company. The Company shall not be entitled to assume the defense of any Proceeding as to which
the Indemnitee shall have made the conclusion provided for in clause (ii) above. The Company shall
not be obligated to indemnify Indemnitee under this Agreement for any amounts paid in settlement of
any Proceeding effected without its written consent, [which consent shall not be unreasonably
withheld]. The Company shall not settle any Proceeding in any manner which would impose any
penalty, limitation, liability or Expense on Indemnitee for which Indemnitee is not entitled to
indemnification hereunder, without Indemnitee’s written consent, [which consent shall not be
unreasonably withheld].

ARTICLE IX

GENERAL PROVISIONS

     9.1 Binding Effect, Etc. This Agreement shall be binding upon and inure to the
benefit of and be enforceable by the parties hereto and their respective permitted successors

9

 

and assigns, including any direct or indirect successor by purchase, merger, consolidation or
otherwise to all or substantially all of the business and/or assets of the Company, spouses, heirs,
executors and personal and legal representatives. This Agreement shall continue in effect
regardless of whether Indemnitee continues to serve as an officer or director of the Company or of
any other enterprise at the Company’s request.

     9.2 Severability. The provisions of this Agreement shall be severable in the event
that any of the provisions hereof (including any provision within a single section, paragraph or
sentence) are held by a court of competent jurisdiction to be invalid, void or otherwise
unenforceable in any respect, and the validity and enforceability of any such provision in every
other respect and of the remaining provisions hereof shall not be in any way impaired and shall
remain enforceable to the fullest extent permitted by law.

     9.3 No Adequate Remedy. The parties declare that it is impossible to measure in money
the damages which will accrue to either party by reason of a failure to perform any of the
obligations under this Agreement. Therefore, if either party shall institute any action or
proceeding to enforce the provisions hereof, such party against whom such action or proceeding is
brought hereby waives the claims or defense that such party has an adequate remedy at law, and such
party shall not urge in any such action or proceeding the claim or defense that the other party has
an adequate remedy at law.

     9.4 Identical Counterparts. This Agreement may be executed in one or more
counterparts, each of which shall, for all purposes, be deemed to be an original but all of which
together shall constitute one and the same Agreement. Only one such counterpart signed by the
party against whom enforceability is sought needs to be produced to evidence the existence of this
Agreement.

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

     9.6 Modification and Waiver. No supplement, modification 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.

     9.7 Assignment. This Agreement shall not be assigned by the Company or the Indemnitee
without the prior written consent of the other party hereto, except that the Company may freely
assign its rights and obligations under this Agreement to any affiliate for whom the Indemnitee is
serving as an executive or director thereof; provided, however, that no permitted assignment shall
release the Company from its obligations hereunder.

     9.8 Notices. All notices, requests, demands and other communications hereunder shall
be in writing and shall be deemed to have been duly given if (i) delivered by hand and receipted
for by the party to whom said notice or other communication shall have been

10

 

directed, or (ii) mailed by certified or registered mail with postage prepaid, on the third
business day after the date on which it is so mailed:

	 	 	 	 	 	 	 
	

	 	If to the Indemnitee to:
	 	 	 	 
	

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	

	 	 	 	 	 	 
	 
	 	 	 	 	 	 

	 	 	 	 	 	 	 
	 

	 	If to the Company to:
	 	Ablest Inc.

	

	 	 	 	1901 Ulmerton Rd.
	

	 	 	 	Suite 300
	

	 	 	 	Clearwater, FL 33762
	

	 	 	 	Attention: 	 
	

	 	 	 	
	 	 

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.

     9.9 Governing Law. The parties agree that this Agreement shall be governed by, and
construed and enforced in accordance with, the laws of the State of Delaware, without application
of the conflict of laws principles thereof.

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

	 	 	 	 	 
	 	THE COMPANY:

 	 
	 	By:  	 	 
	 	   	

	 	 	Name:    Kurt R. Moore
	 	 	Title:    President and Chief Executive Officer
	 

	 	 	 	 	 
	 	INDEMNITEE:

 	 
	 	By:  	 	 	 
	 	   	

	 	 	Name:  	 
	 	 	 	
 	 

11

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