Document:

EXHIBIT 4.10

 

Description of the Company’s Securities

 

The following description of our common stock and the provisions
of our Certificate of Incorporation, as amended, and Bylaws, as amended, are summaries of material terms and provisions and are
qualified by reference to our Certificate of Incorporation, as amended, and the Bylaws, as amended, copies of which have been filed
with the Securities and Exchange Commission as exhibits to Registrant’s Form 10K for the year ended June 30, 2020.

  

Our authorized capital stock consists of 40,000,000 shares of
common stock.

 

The Company is authorized to issue one class of common stock.  Holders
of common stock are entitled to one vote for each share of common stock held of record for the election of directors and on all
matters submitted to a vote of stockholders.  Holders of common stock do not have cumulative voting rights in the election
of directors.  Holders of common stock are entitled to receive dividends ratably, if any, as may be declared by our board
of directors out of legally available funds.  The Board of Directors is divided into three classes (which are as nearly equal
in number as possible).  Each class is elected for a term of office expiring at the third succeeding annual meeting of
stockholders after their respective elections.  Upon our dissolution, liquidation or winding up, holders of common
stock are entitled to share ratably in our net assets legally available after the payment of all our debts and other liabilities.  Holders
of common stock have no preemptive, subscription, redemption or conversion rights.  There are no sinking fund provisions
applicable to the common stock.  The outstanding shares of common stock are fully paid and non-assessable.  A
majority of total votes of the holders of common stock is generally required to take action under our Certificate of Incorporation,
as amended, and By-laws, as amended.

 

    E-17EXHIBIT 10.M

 

[COMPANY LETTERHEAD]

 

October 24, 2019

 

HAND-DELIVERED

 

Mr. Michael A. Carrieri

Senior Vice President of Engineering
Development

NAPCO Security Technologies, Inc.

333 Bayview Avenue

Amityville, New York 11701

 

Re: Employment Agreement

 

Dear Michael:

 

NAPCO is pleased to extend,
and desires to formalize, a two-year Employment Agreement (from August 16, 2020 through August 15, 2022 at your annual salary of
$333,798.89, but subject to discretionary salary increases during each of your annual performance evaluations.

 

All other terms and conditions
of your employment will remain the same as set forth in your Employment Agreement dated October 11, 2002 (with the obvious exception
that the monetary values set forth in Section III have been modified over the years). Please sign below to acknowledge your acceptance
of your extended two-year Employment Agreement.

 

Kindest personal regards.

 

	 	Sincerely
	 	 
	 	NAPCO
    SECURITY TECHNOLOGIES, INC.
	 	 
	 	/s/RICHARD
    SOLOWAY
	 	Richard
    L. Soloway
	 	Chairman
    of the Board

 

	Accepted
    by:	/s/MICHAEL
    CARRIERI	 
	 	Michael
    A. Carrieri	 

 

Dated:
   December 26, 2019 

 

    E-24EXHIBIT 10.N

 

FORM OF DIRECTOR AND OFFICER INDEMNIFICATION
AGREEMENT

 

THIS DIRECTOR AND OFFICER INDEMNIFICATION
AGREEMENT (this “Agreement”) is made as of this [     ] day of [     ] [     ], by and between NAPCO Security Technologies,
Inc., a Delaware corporation (the “Company”), and the indemnitee named on the signature page hereto (the “Indemnitee”).

 

WHEREAS, the Company desires to attract
and retain the services of highly qualified individuals to act as directors and officers;

 

WHEREAS, increased corporate litigation
and investigations have subjected directors and officers to litigation risks and expenses, and the limitations on the availability
and terms of director and officer liability insurance have made it increasingly difficult for the Company to attract and retain
such persons;

 

WHEREAS, the Company’s certificate
of incorporation authorizes the Company to provide indemnification and advancement rights to directors and officers through bylaw
provisions or through agreements with directors and officers, or otherwise, to the extent provided therein;

 

WHEREAS, the Company’s bylaws
require that the Company indemnify its directors and officers as authorized by the General Corporation Law of the State of Delaware
(“DGCL”), as amended, under which the Company is incorporated, and such bylaws expressly provide that the indemnification
provided therein is not exclusive and contemplate that the Company may enter into separate agreements with its directors, officers
and other persons to set forth specific indemnification provisions;

 

WHEREAS, in light of the fact that
the certificate of incorporation and bylaws of the Company are subject to change and do not contain all the provisions and protections
set forth in this Agreement, the Company has determined that the Indemnitee and other directors and officers of the Company may
not be willing to serve or continue to serve in such capacities without additional protection;

 

WHEREAS, the Company desires and
has requested the Indemnitee to serve or continue to serve as a director or officer of the Company, as the case may be, and has
proffered this Agreement to the Indemnitee as an additional inducement to serve in such capacity; and

 

WHEREAS, the Indemnitee is willing
to serve, or to continue to serve, as a director or officer of the Company, as the case may be, if the Indemnitee is furnished
the indemnity provided for herein by the Company.

 

NOW, THEREFORE, in consideration
of the promises and the covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, the Company and the Indemnitee do hereby covenant and agree as follows:

 

1.             
Definitions.

 

(a)           
“Change in Control” means, and shall be deemed to take place upon the occurrence
of any of the follow events: 

 

(i)            
The acquisition, directly or indirectly, by any person or related group of persons (as such
term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended), other than the Company or a person
that directly or indirectly controls, is controlled by, or is under, control with the Company or an employee benefit plan maintained
by the Company or such person, of beneficial ownership (as defined in Rule 13d-3 of the said Act) of securities of the Company
that results in such person or related group of persons beneficially owning securities representing 30% or more of the combined
voting power of the Company’s then-outstanding securities; 

 

    E-25

     

    

 

(ii)           
A merger, recapitalization, consolidation, or other similar transaction to which the Company
is a party, unless securities representing at least 50% of the combined voting power of the then-outstanding securities of the
surviving entity or a parent thereof are immediately thereafter beneficially owned, directly or indirectly and in substantially
the same proportion, by the persons who beneficially owned the Company’s outstanding voting securities immediately before
the transaction;

 

(iii)         
A merger, recapitalization, consolidation, or other similar transaction to which the Company
is a party, unless securities representing at least 50% of the combined voting power of the then-outstanding securities of the
surviving entity or a parent thereof are immediately thereafter beneficially owned, directly or indirectly and in substantially
the same proportion, by the persons who beneficially owned the Company’s outstanding voting securities immediately before
the transaction;

 

(iv)         
A merger, recapitalization, consolidation or other transaction to which the Company is a party
or the sale, transfer or other disposition of all or substantially all of the Company’s assets if, in either case, the members
of the Company’s Board of Directors immediately prior to consummation of the transaction do not, upon consummation of the
transaction, constitute at least a majority of the board of directors of the surviving entity or the entity acquiring the Company’s
assets, as the case may be, or a parent thereof (for this purpose, any change in the composition of the Company’s Board of
Directors that is anticipated or pursuant to an understanding or agreement in connection with a transaction will be deemed to have
occurred at the time of the transaction); or

 

(v)          
A change in the composition of the Company’s Board of Directors over a period of thirty-six
(36) consecutive months or less such that a majority of the Board members ceases, by reason of one or more contested elections
for Board membership, to be comprised of individuals who either (a) have been Board members since the beginning of such period
or (b) have been elected or nominated for election as Board members during such period by at least a majority of the Board members
who were described in clause (a) or who were previously so elected or approved and who were still in office at the time the Board
approved such election or nomination.

 

(b)         
 “Corporate Status” describes the status of a person who is serving or
has served (i) as a director or officer of the Company, (ii) as a Company employee in a fiduciary capacity with respect to an employee
benefit plan of the Company or (iii) as a director or officer of any other Entity at the request of the Company. For purposes of
subsection (iii) of this Section l(b), a director or officer of the Company who is serving or has served as a director
or officer of a Subsidiary shall be deemed to be serving at the request of the Company.

 

    

     

    

 

(c)          
“Disinterested Director” means a director of the Company who (i) is not
and was not a party to the Proceeding in respect of which indemnification is sought by the Indemnitee and (ii) is determined to
be “disinterested” under applicable Delaware state law. 

 

(d)          
“Entity” shall mean any corporation, partnership (general or limited),
limited liability company, joint venture, trust, employee benefit plan, company, foundation, association, organization or other
legal entity, other than the Company. 

 

(e)          
“Expenses” shall be construed broadly to mean all direct and indirect fees
of any type or nature whatsoever, costs and expenses incurred in connection with any Proceeding, including, without limitation,
all attorneys’ fees and costs, disbursements and retainers (including, without limitation, any fees, disbursements and retainers
incurred by the Indemnitee pursuant to Section 11 hereof), fees and disbursements of experts, witnesses, private investigators
and professional advisors (including, without limitation, accountants and investment bankers), court costs, filing fees, transcript
costs, fees of experts, travel expenses, duplicating, imaging, printing and binding costs, telephone and fax transmission charges,
computer legal research costs, postage, delivery service fees, secretarial services, fees and expenses of third party vendors;
the premium, security for, and other costs associated with any bond (including supersedes or appeal bonds, injunction bonds, cost
bonds, appraisal bonds or their equivalents), in each case incurred in connection with prosecuting, defending, preparing to prosecute
or defend, investigating, being or preparing to be a witness in, or otherwise participating in, a Proceeding (including, without
limitation, any judicial or arbitration Proceeding brought to enforce the Indemnitee’s rights under, or to recover damages
for breach of, this Agreement), as well as all other “expenses” within the meaning of that term as used in Section 145
of the DGCL, any federal, state, local or foreign taxes imposed on Indemnitee as a result of the actual or deemed receipt of any
payments under this Agreement, ERISA excise taxes and penalties, and all other disbursements or expenses of types customarily and
reasonably incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing
to be a witness in, or otherwise participating in, actions, suits, or proceedings similar to or of the same type as the Proceeding
with respect to which such disbursements or expenses were incurred. Expenses also shall include Expenses incurred in connection
with any appeal resulting from any Proceeding. 

 

(f)           
“Indemnifiable Expenses,” “Indemnifiable Liabilities”
and “Indemnifiable Amounts” shall have the meanings ascribed to those terms in Section 3(a) hereof.

 

(g)          
“Independent Counsel” means a law firm, or a person admitted to practice
law in any State of the United States, that is experienced in matters of corporation law and neither presently is, nor in the past
three years has been, retained to represent: (i) the Company or the Indemnitee in any matter material to either such party (other
than with respect to matters concerning the Indemnitee under this Agreement, or of other indemnities under similar indemnification
agreements), or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the
foregoing, the term “Independent Counsel” shall not include any law firm or person who, under the applicable standards
of professional conduct then prevailing, would have a conflict of interest in representing either the Company or the Indemnitee
in an action to determine the Indemnitee’s rights under this Agreement. 

 

(h)          
“Liabilities” shall be broadly construed to mean, without limitation, all
judgments, damages, liabilities, losses, penalties, taxes, fines and amounts paid in settlement, in each case, of any type whatsoever,
in connection with a Proceeding. References herein to “fines” shall include any excise tax assessed with respect to
any employee benefit plan. 

 

(i)           
“Proceeding” shall be construed broadly to mean, without limitation, any
threatened, pending or completed claim, government, regulatory and self-regulatory action, suit, arbitration, mediation, alternate
dispute resolution process, investigation (including any internal investigation), inquiry, administrative hearing, appeal, or any
other actual, threatened or completed proceeding, whether brought in the right of the Company or otherwise and whether of a civil
(including intentional or unintentional tort claims), criminal, administrative, arbitrative or investigative nature, whether formal
or informal, including a proceeding initiated by the Indemnitee pursuant to Section 11 of this Agreement to enforce
the Indemnitee’s rights hereunder. 

 

    

     

    

 

(j)           
“Subsidiary” shall mean any Entity of which the Company owns (either directly
or indirectly) either (i) a general partner, managing member or other similar interest or (ii) (A) 50% or more of the voting power
of the voting capital equity interests of such Entity, or (B) 50% or more of the outstanding voting capital stock or other voting
equity interests of such Entity. 

 

(k)          
References herein to a director of any other Entity shall include, in the case of any Entity
that is not managed by a board of directors, such other position, such as manager or trustee or member of the governing body of
such Entity, that entails responsibility for the management and direction of such Entity’s affairs, including, without limitation,
the general partner of any partnership (general or limited) and the manager or managing member of any limited liability company.

 

2.            
Services by the Indemnitee. In consideration of the Company’s covenants and commitments
hereunder, the Indemnitee agrees to serve or continue to serve as either a director on the board of directors of the Company or
as officer, as applicable, so long as the Indemnitee is duly elected or appointed and until such time as the Indemnitee is removed,
terminated, or tenders his or her resignation. 

 

3.            
Agreement to Indemnify. The Company agrees to indemnify the Indemnitee to the fullest
extent permitted, and in the manner permitted, by applicable law as in effect as of the date hereof or as such laws may, from time
to time, be amended (but only if amended in a way that broadens the right to indemnification and advancement of expenses) as follows:

 

(a)          
Indemnification for Third Party Proceedings. Subject to the exceptions contained in
Section 4(a) hereof, if the Indemnitee was or is a party to, threatened to be made a party to or otherwise involved
in any capacity in, any Proceeding (other than an action by or in the right of the Company) by reason of the Indemnitee’s
Corporate Status, the Indemnitee shall be indemnified by the Company to the fullest extent permitted by the DGCL, as the same may
be amended from time to time, against all Expenses and Liabilities actually and reasonably incurred or paid by the Indemnitee or
on the Indemnitee’s behalf in connection with such a Proceeding (such Expenses and Liabilities are referred to herein as
 “Indemnifiable Expenses” and “Indemnifiable Liabilities,” respectively, and collectively
as “Indemnifiable Amounts”). In addition, the Indemnitee’s Corporate Status may allow for indemnification
under certain agreements containing indemnity provisions with another Entity or protections under the organization documents of
such other Entity. In those instances, the Company shall remain wholly liable for making any indemnification payments for all Indemnifiable
Amounts notwithstanding the payment obligation of such amounts by a third party to the Indemnitee; provided, however,
that if and to the extent that the Indemnitee has otherwise actually received payment for Indemnifiable Amounts under any insurance
policy, contract, agreement, or otherwise, the Company shall not be liable under this Agreement to make any payment to the Indemnitee
with respect to any such paid Indemnifiable Amounts. Nothing hereunder is intended to affect any right of contribution of or against
the Company in the event the Company and any other person or persons have co-equal obligations to indemnify (or advance expenses
to) the Indemnitee. 

 

(b)          
Indemnification in Derivative Actions and Direct Actions by the Company. Subject to
the exceptions contained in Section 4(b) hereof, if the Indemnitee was or is a party to, threatened to be made a party
to or otherwise involved in any capacity in, any Proceeding by or in the right of the Company to procure a judgment in its favor
by reason of the Indemnitee’s Corporate Status, the Indemnitee shall be indemnified by the Company against all Indemnifiable
Expenses. In addition, the Indemnitee’s Corporate Status may allow for indemnification under certain agreements containing
indemnity provisions with another Entity or protections under the organization documents of such other Entity. In those instances,
the Company shall remain wholly liable for making any indemnification payments for all Indemnifiable Expenses notwithstanding the
payment obligation of such amounts by a third party to the Indemnitee; provided, however, that if and to the extent
that the Indemnitee has otherwise actually received payment for Indemnifiable Expenses under any insurance policy, contract, agreement,
or otherwise, the Company shall not be liable under this Agreement to make any payment to the Indemnitee with respect to any such
paid Indemnifiable Expenses. Nothing hereunder is intended to affect any right of contribution of or against the Company in the
event the Company and any other person or persons have co-equal obligations to indemnify (or advance expenses to) the Indemnitee.

 

    

     

    

 

4.            
Exceptions to Indemnification. The Indemnitee shall be entitled to indemnification
under Section 3(a) and Section 3(b) hereof in all circumstances other than the following:

 

(a)          
Exceptions to Indemnification for Third Party Proceedings. If indemnification is requested
under Section 3(a) and there has been a final non-appealable judgment by a court of competent jurisdiction that, in
connection with the subject of the Proceeding out of which the claim for indemnification has arisen, (i) the Indemnitee failed
to act (x) in good faith and (y) in a manner the Indemnitee reasonably believed to be in or not opposed to the best interests of
the Company, or, (ii) with respect to any criminal action or proceeding, the Indemnitee had reasonable cause to believe that the
Indemnitee’s conduct was unlawful, the Indemnitee shall not be entitled to payment of Indemnifiable Amounts hereunder. 

 

(b)          
Exceptions to Indemnification in Derivative Actions and Direct Actions by the Company.
If indemnification is requested under Section 3(b) and (i) there has been a final non-appealable judgment by a court of competent
jurisdiction that, in connection with the subject of the Proceeding out of which the claim for indemnification has arisen, the
Indemnitee failed to act (x) in good faith and (y) in a manner the Indemnitee believed to be in or not opposed to the best interests
of the Company, the Indemnitee shall not be entitled to payment of Indemnifiable Expenses hereunder; or (ii) there has been a final
non-appealable judgment by a court of competent jurisdiction that the Indemnitee is liable to the Company with respect to any claim,
issue or matter involved in the Proceeding out of which the claim for indemnification has arisen, then no Indemnifiable Expenses
shall be paid with respect to such claim, issue or matter unless, and only to the extent that, the court of competent jurisdiction
in which such Proceeding was brought shall determine upon application that, despite the adjudication of liability, but in view
of all the circumstances of the case, the Indemnitee is fairly and reasonably entitled to indemnity for such Indemnifiable Expenses
which such court shall deem proper. 

 

(c)          
For purposes of this Agreement, if the Indemnitee has acted in good faith and in a manner
the Indemnitee reasonably believed to be in the interest of the participants and beneficiaries of an employee benefit plan, the
Indemnitee shall be deemed to have acted in a manner not opposed to the best interests of the Company. 

 

5.            
Procedure for Payment of Indemnifiable Amounts. 

 

(a)          
Subject to Section 9, the Indemnitee shall submit to the Company a written request
specifying in reasonable detail the Indemnifiable Amounts for which the Indemnitee seeks payment under Section 3, Section 6,
or Section 7 hereof and a short description of the basis for the claim. The Company shall pay such Indemnifiable Amounts
to the Indemnitee within sixty (60) calendar days of receipt of the request, to the extent a determination with respect to the
Indemnitee’s entitlement to indemnification is not required to be made pursuant Sections 5(b) and 5(c) below. At the request
of the Company, the Indemnitee shall furnish such documentation and information as are reasonably available to the Indemnitee and
necessary to establish that the Indemnitee is entitled to indemnification hereunder. 

 

(b)          
Upon written request by the Indemnitee for indemnification pursuant to the first sentence
of Section 5(a) hereof, if required by applicable law and to the extent not otherwise provided pursuant to the terms
of this Agreement, a determination with respect to the Indemnitee’s entitlement to indemnification shall be made in the specific
case as follows: (i) if a Change in Control shall have occurred and if so requested in writing by the Indemnitee, by Independent
Counsel in a written opinion to the Board of Directors; or (ii) if a Change in Control shall not have occurred (or if a Change
in Control shall have occurred but the Indemnitee shall not have requested that indemnification be determined by Independent Counsel
as provided in subpart (i) of this Section 5(b)), (A) by a majority vote of the Disinterested Directors, even though
less than a quorum of the Board of Directors, or (B) by a committee of Disinterested Directors designated by majority vote of the
Disinterested Directors, even though less than a quorum of the Board of Directors, (C) if there are no such Disinterested Directors,
or if such Disinterested Directors so direct, by Independent Counsel in a written opinion to the Board of Directors, or (D) by
the Company’s stockholders in accordance with applicable law. Notice in writing of any determination as to the Indemnitee’s
entitlement to indemnification shall be delivered to the Indemnitee promptly after such determination is made, and if such determination
of entitlement to indemnification has been made by Independent Counsel in a written opinion to the Board of Directors, then such
notice shall be accompanied by a copy of such written opinion. If it is determined that the Indemnitee is entitled to indemnification,
then payment to the Indemnitee of all amounts to which the Indemnitee is determined to be entitled (other than sums that were already
advanced) shall be made within sixty (60) calendar days after such determination. If it is determined that the Indemnitee is not
entitled to indemnification, then the written notice to the Indemnitee (or, if such determination has been made by Independent
Counsel in a written opinion, the copy of such written opinion delivered to the Indemnitee) shall disclose the basis upon which
such determination is based. The Indemnitee shall cooperate with the person, persons, or entity making the determination with respect
to the Indemnitee’s entitlement to indemnification, including providing to such person, persons, or entity upon reasonable
advance request any documentation or information that is not privileged or otherwise protected from disclosure and that is reasonably
available to the Indemnitee and reasonably necessary to determine whether and to what extent the Indemnitee is entitled to indemnification.

 

    

     

    

 

(c)          
If the determination of entitlement to indemnification is to be made by Independent Counsel
pursuant to Section 5(b) hereof, the Independent Counsel shall be selected as provided in this Section 5(c).
The Independent Counsel shall be selected by the Indemnitee, unless the Indemnitee shall request that such selection be made by
the Board of Directors, in which case the Company shall give written notice to the Indemnitee advising the Indemnitee of the identity
of the Independent Counsel so selected. If the Indemnitee selects the Independent Counsel, the Indemnitee shall give written notice
to the Company advising it of the identity of the Independent Counsel so selected. In either case, the Indemnitee or the Company,
as the case may be, may, within thirty (30) calendar days after such written notice of selection has been given, deliver to the
Company or to the Indemnitee, as the case may be, a written objection to such selection; provided, however, that such objection
may be asserted only on the ground that the law firm or person so selected does not meet the requirements of “Independent
Counsel” as defined in Section 1 hereof, and the objection shall set forth the basis of such assertion. Absent
a proper and timely objection, the person so selected shall act as Independent Counsel. If such written objection is so made and
substantiated, the law firm or person so selected may not serve as Independent Counsel unless and until such objection is withdrawn
or the Court of Chancery of the State of Delaware or another court of competent jurisdiction in the State of Delaware has determined
that such objection is without merit. If the determination of entitlement to indemnification is to be made by Independent Counsel
pursuant to Section 5(b) hereof and, following the expiration of sixty (60) calendar days after submission by the Indemnitee
of a written request for indemnification pursuant to Section 5(a) hereof, Independent Counsel shall not have been selected,
or an objection thereto has been made and not withdrawn, then either the Company or the Indemnitee may petition the Court of Chancery
of the State of Delaware or other court of competent jurisdiction in the State of Delaware for resolution of any objection that
shall have been made by the Company or the Indemnitee to the other’s selection of Independent Counsel and/or for appointment
as Independent Counsel of a law firm or person selected by such court (or selected by such person as the court shall designate),
and the law firm or person with respect to whom all objections are so resolved or the law firm or person so appointed shall act
as Independent Counsel under Section 5(b) hereof. Upon the due commencement of any Proceeding pursuant to Section 11(e)
hereof, Independent Counsel shall be discharged and relieved of any further responsibility in such capacity (subject to the applicable
standards of professional conduct then prevailing). If the determination of entitlement to indemnification is to be made by Independent
Counsel pursuant to Section 5(b) hereof, then the Company agrees to pay the reasonable fees and expenses of such Independent
Counsel and to fully indemnify and hold harmless such Independent Counsel against any and all expenses, claims, liabilities, and
damages arising out of or relating to this Agreement or its engagement pursuant hereto. 

 

6.            
Indemnification for Expenses if the Indemnitee is Wholly or Partly Successful. Notwithstanding
anything contained in this Agreement to the contrary, to the extent that the Indemnitee is or was, or is or was threatened to be
made, by reason of the Indemnitee’s Corporate Status, a party to any Proceeding and the Indemnitee is successful (on the
merits or otherwise, including, without limitation, a settlement of a Proceeding, or claim, issue or matter therein, with or without
payment of money or other consideration) in defending all claims, issues and matters in such Proceeding, the Indemnitee shall be
indemnified against all Indemnifiable Expenses incurred by the Indemnitee or on the Indemnitee’s behalf in connection with
the defense of such Proceeding. If the Indemnitee is successful (on the merits or otherwise, including, without limitation, a settlement
of a Proceeding, or claim, issue or matter therein, with or without payment of money or other consideration) in defending one or
more but less than all claims, issues or matters in such Proceeding, the Company shall indemnify, hold harmless and exonerate the
Indemnitee for that portion of the Expenses reasonably incurred in connection with defending those claims, issues or matters with
respect to which the Indemnitee was successful in defending. For purposes of this Agreement, 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. Notwithstanding any of the foregoing, nothing herein shall be construed to limit the Indemnitee’s right
to indemnification which he or she would otherwise be entitled to in accordance with Section 3 and Section 4
hereof, regardless of the Indemnitee’s success in a Proceeding. 

 

    

     

    

 

7.            
Indemnification for Expenses as a Witness. Anything in this Agreement to the contrary
notwithstanding, to the fullest extent permitted by applicable law, to the extent that the Indemnitee, by reason of the Indemnitee’s
Corporate Status, is or was, or is or was threatened to be made, a witness in any Proceeding to which the Indemnitee is not a party,
the Indemnitee shall be indemnified against all Indemnifiable Expenses incurred by the Indemnitee or on the Indemnitee’s
behalf in connection therewith. To the extent permitted by applicable law, the Indemnitee shall be entitled to indemnification
for Expenses incurred in connection with being or threatened to be made a witness, as provided in this Section 7, regardless
of whether the Indemnitee met the standards of conduct set forth in Sections 4(a) and 4(b) hereof. 

 

8.            
Agreement to Advance Expenses; Conditions. The Company shall pay to the Indemnitee
all Indemnifiable Expenses incurred by or on behalf of the Indemnitee in connection with any Proceeding to which the Indemnitee
was or is a party or was or is otherwise involved or was or is threatened to be made a party to or was or is otherwise involved
in any capacity in any Proceeding by reason of the Indemnitee’s Corporate Status, including a Proceeding by or in the right
of the Company, in advance of the final disposition of such Proceeding. The Indemnitee hereby undertakes to repay the amount of
Indemnifiable Expenses paid to the Indemnitee if it shall ultimately be determined by final judicial decision of a court of competent
jurisdiction, from which decision there is no further right to appeal, that the Indemnitee is not entitled under this Agreement
to, or is prohibited by applicable law from, indemnification with respect to such Indemnifiable Expenses. Any advances and undertakings
to repay pursuant to this Section 8 shall be unsecured and interest free. The Indemnitee shall be entitled to advancement
of Indemnifiable Expenses as provided in this Section 8 regardless of any determination by or on behalf of the Company
that the Indemnitee has not met the standards of conduct set forth in Sections 4(a) and 4(b) hereof. 

 

9.            
Procedure for Advance Payment of Expenses. The Indemnitee shall submit to the Company
a written request specifying in reasonable detail the Indemnifiable Expenses for which the Indemnitee seeks an advancement under
Section 8 hereof, together with documentation reasonably evidencing that the Indemnitee has incurred such Indemnifiable
Expenses. Payment of Indemnifiable Expenses under Section 8 hereof shall be made no later than sixty (60) calendar
days after the Company’s receipt of such request. 

 

10.          
Burden of Proof; Defenses; and Presumptions. 

 

(a)          
In any Proceeding pursuant to Section 11 hereof brought by the Indemnitee to enforce
rights to indemnification or to an advancement of Indemnifiable Expenses hereunder, or in any Proceeding brought by the Company
to recover an advancement of Indemnifiable Expenses (whether pursuant to the terms of an undertaking or otherwise), the burden
shall be on the Company to prove that the Indemnitee is not entitled to be indemnified, or to such an advancement of Indemnifiable
Expenses, as the case may be. 

 

(b)          
It shall be a defense in any Proceeding pursuant to Section 11 hereof to enforce
rights to indemnification under Section 3(a) or Section 3(b) hereof (but not in any Proceeding pursuant
to Section 11 hereof to enforce a right to an advancement of Indemnifiable Expenses under Sections 8 and 9
hereof) that the Indemnitee has not met the standards of conduct set forth in Section 4(a) or Section 4(b)
hereof, as the case may be, but the burden of proving such defense shall be on the Company. With respect to any Proceeding pursuant
to Section 11 hereof brought by the Indemnitee to enforce a right to indemnification hereunder, or any Proceeding brought
by the Company to recover an advancement of Indemnifiable Expenses (whether pursuant to the terms of an undertaking or otherwise),
neither (i) the failure of the Company (including by its directors or independent legal counsel) to have made a determination prior
to the commencement of such Proceeding that indemnification is proper in the circumstances because the Indemnitee has met the applicable
standards of conduct, nor (ii) an actual determination by the Company (including by its directors or independent legal counsel)
that the Indemnitee has not met such applicable standards of conduct, shall create a presumption that the Indemnitee has not met
the applicable standards of conduct or, in the case of a Proceeding pursuant to Section 11 hereof brought by the Indemnitee
seeking to enforce a right to indemnification, be a defense to such Proceeding. 

 

    

     

    

 

(c)          
The termination of any Proceeding by judgment, order, settlement, conviction, or upon a plea
of nolo contendere or its equivalent, shall not, in and of itself, adversely affect the right of the Indemnitee to indemnification
hereunder or create a presumption that the Indemnitee did not act in good faith and in a manner the Indemnitee reasonably believed
to be in or not opposed to the best interests of the Company, and, with respect to any criminal Proceeding, shall not create a
presumption that the Indemnitee had reasonable cause to believe that his or her conduct was unlawful. 

 

(d)          
For purposes of any determination of good faith, the Indemnitee shall be deemed to have acted
in good faith if the Indemnitee’s action is reasonably based on the records or books of account of the Company or other Entity,
including financial statements, or on information supplied to the Indemnitee by the officers of the Company or other Entity in
the course of their duties, or on the advice of legal counsel for the Company or other Entity or on information or records given
or reports made to the Company or other Entity by an independent certified public accountant or by an appraiser or other expert
selected by the Company or other Entity. The provisions of this Section 10(d) shall not be deemed to be exclusive or
to limit in any way the other circumstances in which the Indemnitee may be deemed or found to have met the applicable standard
of conduct set forth in this Agreement. 

 

(e)           
The knowledge and/or actions, or failure to act, of any other director, officer, agent, or
employee of the Company or of another Entity shall not be imputed to the Indemnitee for purposes of determining the Indemnitee’s
right to indemnification or advancement of Indemnifiable Expenses under this Agreement. 

 

11.          
Remedies of the Indemnitees.

 

(a)          
Right to Petition Court. In the event that the Indemnitee makes a request for payment
of Indemnifiable Amounts under Section 3 or Section 5 hereof or a request for an advancement of Indemnifiable
Expenses under Sections 8 or Section 9 hereof and the Company fails to make such payment or advancement in a
timely manner in accordance with the terms of this Agreement, the Indemnitee may petition a court to enforce the Company’s
obligations under this Agreement. 

 

(b)          
Expenses. The Company agrees to reimburse the Indemnitee in full for any Expenses actually
and reasonably incurred by the Indemnitee in connection with investigating, preparing for, litigating, defending or settling any
action brought by the Indemnitee under Section 11(a) hereof; provided, however, that to the extent the
Indemnitee is unsuccessful on the merits in such action then the Company shall have no obligation to reimburse the Indemnitee under
this Section 11(b). 

 

(c)          
Validity of Agreement. The Company shall be precluded from asserting in any Proceeding,
including, without limitation, an action under Section 11(a) hereof, that the provisions of this Agreement are not
valid, binding and enforceable or that there is insufficient consideration for this Agreement and shall stipulate in court that
the Company is bound by all the provisions of this Agreement. 

 

(d)          
Failure to Act Not a Defense. The failure of the Company (including its Board of Directors
or any committee thereof, independent legal counsel, or stockholders) to make a determination concerning the permissibility of
the payment of Indemnifiable Amounts or the advancement of Indemnifiable Expenses under this Agreement shall not be a defense in
any action brought under Section 11(a) hereof, and shall not create a presumption that such payment or advancement
is not permissible. 

 

    

     

    

 

(e)          
Entitlement to Indemnification; Independent Counsel. In the event that (i) a determination
is made pursuant to Section 5 hereof that the Indemnitee is not entitled to indemnification under this Agreement, (ii)
if the determination of entitlement to indemnification is not to be made by Independent Counsel pursuant to Section 5(b)
hereof, no determination of entitlement to indemnification shall have been made pursuant to Section 5(b) hereof within
sixty (60) calendar days after receipt by the Company of the Indemnitee’s written request for indemnification, (iii) if the
determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 5(b) hereof,
no determination of entitlement to indemnification shall have been made pursuant to Section 5(b) hereof within eighty
(80) calendar days after receipt by the Company of the Indemnitee’s written request for indemnification, unless an objection
to the selection of such Independent Counsel has been made and substantiated and not withdrawn, in which case the applicable time
period shall be seventy (70) calendar days after the Court of Chancery of the State of Delaware or another court of competent jurisdiction
in the State of Delaware (or such person appointed by such court to make such determination) has determined or appointed the person
to act as Independent Counsel pursuant to Section 5(b) hereof, (iv) payment of Indemnified Amounts payable pursuant
to Section 6 or Section 7 hereof is not made within sixty (60) calendar days after receipt by the Company
of a written request therefor, or (v) payment of Indemnified Amounts payable pursuant to Section 6 or Section 7
hereof is not made within sixty (60) calendar days after a determination has been made pursuant to Section 5(b) hereof
that the Indemnitee is entitled to indemnification, then in each instance described in clauses (i) through (v), the Indemnitee
shall be entitled to seek an adjudication by the Court of Chancery of the State of Delaware of the Indemnitee’s entitlement
to such indemnification or advancement of Indemnifiable Expenses. 

 

(f)           
Not Prejudiced by Adverse Determination. In the event that a determination shall have
been made pursuant to Section 5(b) hereof that the Indemnitee is not entitled to indemnification, any Proceeding commenced
pursuant to this Section 11 shall be conducted in all respects as a de novo trial, or arbitration, on the merits and
the Indemnitee shall not be prejudiced by reason of that adverse determination. 

 

12.          
Settlement of Proceedings. 

 

(a)          
The Indemnitee agrees that it will not settle, compromise or consent to the entry of any judgment
as to the Indemnitee in any pending or threatened Proceeding (whether or not the Indemnitee is an actual or potential party to
such Proceeding) in which Indemnitee has sought indemnification hereunder without the Company’s prior written consent, which
consent will not be unreasonably withheld, unless such settlement, compromise or consent respecting such Proceeding includes an
unconditional release of the Company and does not (i) require or impose any injunctive or other non-monetary remedy on the Company
or its affiliates, (ii) require or impose an admission or consent as to any wrongdoing by the Company or its affiliates, or (iii)
otherwise result in a direct or indirect payment by or monetary cost to the Company or its affiliates. 

 

(b)          
The Company agrees that it will not settle, compromise or consent to the entry of any judgment
as to the Indemnitee in any pending or threatened Proceeding (whether or not the Indemnitee is an actual or potential party to
such Proceeding) in which the Indemnitee has sought indemnification hereunder without the Indemnitee’s prior written consent,
which consent shall not be unreasonably withheld, unless such settlement, compromise or consent includes an unconditional release
of the Indemnitee and does not (i) require or impose any injunctive or other non-monetary remedy on the Indemnitee, (ii) require
or impose an admission or consent as to any wrongdoing by the Indemnitee or (iii) otherwise result in a direct or indirect payment
by or monetary cost to the Indemnitee personally (as opposed to a payment to be made or cost to be paid by the Company on the Indemnitee’s
behalf). 

 

13.          
Notice by the Indemnitee. The Indemnitee agrees to notify the Company promptly upon
being served with any summons, citation, subpoena, complaint, indictment, information, or other document relating to any Proceeding
which could reasonably be expected to result in the payment of Indemnifiable Amounts or the advancement of Indemnifiable Expenses
hereunder; provided, however, that the failure to give any such notice shall not disqualify the Indemnitee from the
right to receive payments of Indemnifiable Amounts or advancements of Indemnifiable Expenses. 

 

14.          
Representations and Warranties of the Company. The Company hereby represents and warrants
to the Indemnitee as follows: 

 

(a)          
Authority. The Company has all necessary power and authority to enter into, and be
bound by the terms of, this Agreement, and the execution, delivery and performance of the undertakings contemplated by this Agreement
have been duly authorized by the Company. 

 

    

     

    

 

(b)          
Enforceability. This Agreement, when executed and delivered by the Company in accordance
with the provisions hereof, shall be a legal, valid and binding obligation of the Company, enforceable against the Company in accordance
with its terms, except as such enforceability may be limited by equitable principles and applicable bankruptcy, insolvency, moratorium,
reorganization or similar laws affecting the enforcement of creditors’ rights generally. 

 

(c)          
No Conflicts. This Agreement, when executed and delivered by the Company in accordance
with the provisions hereof, does not, and the Company’s performance of its obligations under the Agreement will not, violate
the Company’s certificate of incorporation, bylaws, other agreements to which the Company is a party to or applicable law.

 

(d)          
Insurance. The Company shall use commercially reasonable efforts to cause the Indemnitee,
at the Company’s expense, to be covered by such insurance policies or policies providing liability insurance for directors
or officers of the Company or of any Subsidiary, if any, in accordance with its or their terms to the same extent as provided to
any then-current director or officer of the Company or any Subsidiary under such policy or policies. 

 

15.          
Contract Rights Not Exclusive; Subrogation. The rights to payment of Indemnifiable
Amounts and advancement of Indemnifiable Expenses provided by this Agreement shall be in addition to, but not exclusive of, any
other rights that the Indemnitee may have at any time under applicable law, the Company’s bylaws or certificate of incorporation,
or any other agreement, vote of stockholders or directors (or a committee of directors), or otherwise, both as to action in the
Indemnitee’s official capacity and as to action in any other capacity as a result of the Indemnitee’s serving in a
Corporate Status. No right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other
right and remedy shall be cumulative and in addition to every other right and remedy, given hereunder or now or hereafter existing
at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent
the concurrent assertion or employment of any other right or remedy. In the event of any payment to or on behalf of the Indemnitee
under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of the 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. 

 

16.          
Successors. This Agreement shall be (a) binding upon all successors and assigns of
the Company (including any transferee of all or a substantial portion of the business, stock and/or assets of the Company and any
direct or indirect successor by merger or consolidation or otherwise by operation of law) and (b) binding on and shall inure to
the benefit of the heirs, personal representatives, executors and administrators of the Indemnitee. This Agreement shall continue
for the benefit of the Indemnitee and such heirs, personal representatives, executors and administrators after the Indemnitee has
ceased to have Corporate Status. 

 

17.           
Change in Law. To the extent that a change in Delaware law (whether by statute or judicial
decision) shall permit broader indemnification or advancement of expenses than is provided under the terms of the bylaws of the
Company and this Agreement, the Indemnitee shall be entitled to such broader indemnification and advancements, and this Agreement
shall be deemed to be amended to such extent, but only to the extent such amendment permits the Indemnitee to broader indemnification
and advancement rights other than Delaware law permitted prior to the adoption of such amendment. 

 

18.          
Severability. Whenever possible, each provision of this Agreement shall be interpreted
in such a manner as to be effective and valid under applicable law, but if any provision of this Agreement, or any clause thereof,
shall be determined by a court of competent jurisdiction to be illegal, invalid or unenforceable, in whole or in part, such provision
or clause shall be limited or modified in its application to the minimum extent necessary to make such provision or clause valid,
legal and enforceable, and the remaining provisions and clauses of this Agreement shall remain fully enforceable and binding on
the parties. 

 

    

     

    

 

19.          
Modifications and Waiver. Except as provided in Section 17 hereof with
respect to changes in Delaware law which broaden the right of the Indemnitee to be indemnified by the Company, no supplement, modification
or amendment of this Agreement shall be binding unless executed in writing by each 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 of this Agreement (whether or
not similar), nor shall such waiver constitute a continuing waiver. 

 

20.          
General Notices. All notices, requests, demands and other communications hereunder
shall be in writing and shall be deemed to have been duly given (a) when delivered by hand, (b) when transmitted by facsimile
and receipt is acknowledged, or (c) if mailed by certified or registered mail with postage prepaid, on the third business day after
the date on which it is so mailed: 

 

(i)           
If to the Indemnitee, to the address specified on the signature page hereto;

 

(ii)          
If to the Company, to:

 

NAPCO Security Technologies, Inc.

333 Bayview Avenue

Amityville, NY 11701

Attention: [General Counsel and Corporate Secretary]

 

 

or to such other address as may have been furnished in the same
manner by any party to the others.

 

21.           
Contribution. To the fullest extent permissible under applicable law, if the indemnification
provided for in this Agreement is unavailable to Indemnitee for any reason whatsoever other than any of those set forth in Section 4
hereof, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee, whether for judgments,
fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or for Expenses, in connection with any claim relating
to an indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in light of all of the circumstances
of such Proceeding in order to reflect (i) the relative benefits received by the Company and Indemnitee as a result of the event(s)
and/or transaction(s) giving cause to such Proceeding; and/or (ii) the relative fault of the Company (and its directors, officers,
employees and agents) and Indemnitee in connection with such event(s) and/or transaction(s). 

 

22.          
Governing Law. This Agreement shall be exclusively governed by and construed and enforced
under the laws of the State of Delaware without giving effect to the provisions thereof relating to conflicts of law of such state.

 

23.          
Consent to Jurisdiction. 

 

(a)           
Each of the Company and the Indemnitee hereby irrevocably and unconditionally (i) agrees and
consents to the jurisdiction of the courts of the State of Delaware for all purposes in connection with any action, suit, or proceeding
that arises out of or relates to this Agreement and agrees that any such action instituted under this Agreement shall be brought
only in the Court of Chancery of the State of Delaware (or in any other state court of the State of Delaware if the Court of Chancery
does not have subject matter jurisdiction over such action), and not in any other state or federal court in the United States of
America or any court or tribunal in any other country; (ii) consents to submit to the exclusive jurisdiction of the courts of the
State of Delaware for purposes of any action or proceeding arising out of or in connection with this Agreement; (iii) waives any
objection to the laying of venue of any such action or proceeding in the courts of the State of Delaware; and (iv) waives, and
agrees not to plead or to make, any claim that any such action or proceeding brought in the courts of the State of Delaware has
been brought in an improper or otherwise inconvenient forum. 

 

(b)          
Each of the Company and the Indemnitee hereby consents to service of any summons and complaint
and any other process that may be served in any action, suit, or proceeding arising out of or relating to this Agreement in any
court of the State of Delaware by mailing by certified or registered mail, with postage prepaid, copies of such process to such
party at its address for receiving notice pursuant to Section 20 hereof. Nothing herein shall preclude service of process
by any other means permitted by applicable law. 

 

    

     

    

 

24.          
Counterparts. This Agreement may be executed in one or more counterparts (including
by PDF or facsimile), each of which shall for all purposes be deemed to be an original but all of which together shall constitute
but one and the same Agreement. Only one such counterpart need be produced to evidence the existence of this Agreement. 

 

25.          
Headings. The headings of the sections of this Agreement are inserted for convenience
only and shall not be deemed to constitute part of this Agreement or to affect the construction hereof. 

 

26.           
Entire Agreement. This Agreement constitutes the entire agreement between the parties
with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, understandings and negotiations,
written and oral, between the parties with respect to the subject matter of this Agreement, including any indemnification agreement
that between the Company and the indemnitee entered into prior to the date hereof, provided, however, that this Agreement
is supplement to and in furtherance of the Company’s certificate of incorporation, bylaws, the DGCL and any other applicable
law, and shall not be deemed a substitute therefor, and does not diminish or abrogate any rights of the Indemnitee thereunder.

 

    

     

    

 

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

 

	 	COMPANY:
	 	 
	 	NAPCO
    SECURITY TECHNOLOGIES, INC.
	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title:	 
	 	 
	 	INDEMNITEE:
	 	 
	 	By:	 
	 	 	Name:
    	            
	 	 	Address for notices:

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