Document:

Anthony J. Van Zeeland Employment Agreement dated 07/01/2003

 Exhibit 10.1 
  
 EMPLOYMENT AGREEMENT 
  

Agreement made, effective as of July 1, 2003, by and between Duraswitch Industries, Inc., a corporation duly organized and existing under the laws of
the State of Nevada, with a place of business at 234 South Extension Rd., Section 103, Mesa, AZ 85210, hereinafter referred to as (“Employer”), and Anthony J. Van Zeeland, of Mesa, AZ 85202, hereinafter referred to as
(“Employee”). 
  
 RECITALS 
  
 The parties recite and declare: 
  

	 	A.	 	Employer desires to retain Employee because of Employee’s vast business experience and expertise as an inventor and developer of patented switch technology.

  

	 	B.	 	Employee desires to be employed by Employer in the executive capacity described below. 

  

	 	C.	 	This Agreement supercedes and replaces the employment agreement dated May 1, 1997 that has been in effect for the Employee and Employer (the “May 1997 Agreement”).

  
 For reasons set forth above, and in
consideration of the mutual covenants and promises of the parties set forth in this Agreement, Employer and Employee agree as follows: 
  
 AGREEMENT 
  
 SECTION ONE: 
  

	 	1.1	 	Employment. Employer employs Employee, and Employee hereby accepts such employment, as the Chief Technology Officer on the terms and conditions stated in this Agreement.

  
 SECTION TWO: 
  

	 	2.1	 	Term of Employment. The term of Employee’s employment shall be four and one-half (41⁄2) years commencing July 1, 2003 and terminating December 31, 2007.

  
 SECTION THREE: 
  

	 	3.1	 	Efforts of Employee. Employee shall devote a minimum of One Thousand Forty Hours (1,040) per annum to promote and assist Employer, 

  

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 and Employee shall render such services to Employer at such location(s) as Employer shall reasonably
request. 
  
 SECTION FOUR: 
  

	 	4.1	 	Compensation of Employee. For a period of fifty-four (54) months, starting July 1, 2003, Employer shall pay Employee, and Employee shall accept from Employer in full payment
for Employee’s services under this Agreement, compensation at the rate of $118,800.00 annually, subject to customary withholdings, payable twice a month on the 1st and 15th of each month or
biweekly as Employer may determine while this Agreement shall be in force. 

  
 SECTION FIVE: 
  

	 	5.1	 	Reimbursement for Expenses. Employer shall reimburse Employee for reasonable out of pocket expenses that Employee shall incur in connection with his services for Employer
contemplated by this Agreement, on presentation by Employee of appropriate vouches and receipts for such expenses to Employer. 

  
 SECTION SIX: 
  

	 	6.1	 	Use of Confidential Information. Employee agrees that, in addition to any other limitation contained in this Agreement, regardless of the circumstances of the termination of
employment, he will not communicate to any person, firm, corporation or other entity any information relating to customer lists, prices, secrets, advertising, nor any confidential knowledge or secrets that Employee might from time to time acquire
with respect to the business of the Employer or any of its affiliates or subsidiaries. 

  
 SECTION SEVEN: 
  

	 	7.1	 	Termination Under Certain Circumstances. Notwithstanding anything to the contrary herein contained: 

  

	 	(a)	 	Death. Employee’s employment shall be automatically terminated, without notice, effective upon the date of Employee’s death. 

  

	 	(b)	 	Disability. If Employee shall fail to perform any of Employee’s essential job duties under this Agreement as the result of illness or other incapacity, with or without
reasonable accommodation, for a period of more than 12 consecutive weeks, or for more than 12 weeks within any 12-month period, as determined by Employer for purposes of compliance with the Family and Medical Leave Act, Employer may, at its option,
and upon notice to Employee, 

  

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	 	  	 	terminate Employee’s employment effective on the date of that notice. 

  

	 	(c)	 	Unilateral Decision of Employer. Employer may, at its option, upon notice to Employee, terminate Employee’s employment effective on the date of that notice.

  

	 	(d)	 	Unilateral Decision by Employee. Employee may, at his option and upon notice to Employer, terminate Employee’s employment effective on the date of that notice.

  

	 	(e)	 	Change of Control. In the event of a Change of Control (as defined below), Employee may, at his option, upon notice to Employer, terminate Employee’s employment by
providing Employer with 30 days’ written notice after the effective date of the Change of Control. For the purposes of this Agreement, a “Change in Control” shall mean a change in control of Employer of a nature that would be required
to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A promulgated under the Securities Exchange Act of 1934, as amended, as in effect on the date of this Agreement, or if Item 6(e) is no longer in effect, any regulations issued
by the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934, as amended, which serve similar purposes; provided further that, without limitation, a Change in Control shall be deemed to have occurred if and when:

  

	 	(A)	 	Turnover of Board. The following individuals no longer constitute a majority of the members of the Board of Directors of Employer: (1) the individuals who, as of the date of
this Agreement, constitute the Board of Directors of Employer (the “Current Directors”); (2) the individuals who thereafter are elected to the Board of Directors of Employer and whose election, or nomination for election, to the Board of
Directors of Employer was approved by a vote of at least two-thirds ( 2/3) of the Current Directors then still in
office (such directors becoming “Additional Directors” immediately following their election); and (3) the individuals who are elected to the Board of Directors of Employer and whose election, or nomination for election, to the Board of
Directors of Employer was approved by a vote of at least two-thirds ( 2/3) of the Current Directors and
Additional Directors then still in office (such directors also becoming “Additional Directors” immediately following their election); 

  

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	 	(B)	 	Tender Offer. A tender offer or exchange offer is made whereby the effect of such offer is to take over and control Employer, and such offer is consummated for the equity
securities of Employer representing twenty percent (20%) or more of the combined voting power of Employer’s then outstanding voting securities; 

  

	 	(C)	 	Merger or Consolidation. The stockholders of Employer shall approve a merger, consolidation, recapitalization, or reorganization of Employer, a reverse stock split of
outstanding voting securities, or consummation of any such transaction if stockholder approval is not obtained, other than any such transaction that would result in at least seventy-five percent (75%) of the total voting power represented by the
voting securities of the surviving entity outstanding immediately after such transaction being beneficially owned by the holders of outstanding voting securities of Employer immediately prior to the transaction, with the voting power of each such
continuing holder relative to other such continuing holders not substantially altered in the transaction; or 

  

	 	(D)	 	Liquidation or Sale of Assets. The stockholders of Employer shall approve a plan of complete liquidation of Employer or an agreement for the sale or disposition by Employer
of all or a substantial portion of Employer’s assets to another person or entity, which is not a wholly owned subsidiary of Employer (i.e., fifty percent (50%) or more of the total assets of Employer). 

  

	 	(f)	 	Result of Termination. In the event of the termination of Employee’s employment pursuant to Section 7.1(d) above, Employee shall receive no further compensation
under this Agreement. In the event of the termination of Employee’s employment pursuant to Section 7.1(a), (b), (c), or (e) above, Employee or Employee’s personal representative or estate shall receive his compensation pursuant to
Section 4.1 and benefits represented in Section 14.1 during the remainder of the term of this Agreement. Employee shall continue to be bound by Sections 6, 8, 9, 10, 11, and 12 of this Agreement following termination of
Employee’s employment on any basis set forth in this Section 7. 

  
 SECTION EIGHT: 
  

	 	8.1	 	Trade Secrets. Employee shall not at any time or in any manner, either directly or indirectly, divulge, disclose or communicate to any person, firm, corporation or other
entity in any manner whatsoever, any 

  

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 information concerning any matters affecting or relating to the business of Employer, including without
limitation, any of its customers, the prices it obtains or has obtained from the sale of, or at which it sells or has sold, its products or any other information concerning the business of the Employer, its manner of operations, its plans,
processes, trade secrets, formulas, ideas, maskworks, source and object codes, programs, other works of authorship, designs and techniques, improvements, developments, or other data without regard to whether all of the above-stated matters will be
deemed confidential, material or important. 
  
 SECTION NINE: 
  

	 	9.1	 	Nondisclosure Of Confidential Information During Employment and After Termination. Employee agrees that for and during the entire term of this employment agreement, any
property, information, trade secrets, data, figures, sales figures, projections, estimates, customer lists, tax records, personnel history, accounting procedures, promotion, and the like, shall be considered and kept as the private and privileged
records of Employer and will not be divulged to any person, firm, corporation or other entity except on the direct authorization of Employer. On December 31, 2007, Employee agrees that he will continue to treat as private and privileged any
property, information, trade secrets, data, figures, projections, estimates, customer lists, tax records, personnel history, accounting procedures, and the like, and will not release any such information to any person, firm, corporation or other
entity, either by statement, deposition or as a witness, expect upon direct written authority of the Employer, and Employer shall be entitled to an injunction by any competent court to enjoin and restrain the unauthorized disclosure of such
information. 

  
 SECTION TEN: 
  

	 	10.1	 	Surrender of Records and Property on Termination of Employment. Employee agrees that on termination of his employment on December 31, 2007, Employee will surrender to
Employer in good condition any record or records kept by Employee containing the names, addresses and other information with regard to customers or potential customers of Employer served by Employee, and will surrender to Employer all property,
keys, access cards, and network passwords. 

  
 SECTION ELEVEN:

  

	 	11.1	 	Non-Solicitation of Employees or Customers. During the term and for a period of twelve (12) months immediately following termination of this Agreement, or, in the
alternative, in the event any reviewing court finds twelve (12) months to be overbroad or unenforceable, for a period of nine (9) months from the date of such termination, or, in the alternative, in the event any reviewing court finds nine (9)
months to be overbroad or 

  

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 unenforceable, for a period of six (6) months from the date of such termination, or, in the alternative,
in the event any reviewing court finds six (6) months to be overbroad or unenforceable, for a period of three (3) months from the date of such termination, Employee shall neither call on nor solicit, either for Employee or any other person, firm,
corporation, or other entity, any of the customers of Employer of whom Employee called, with whom Employee became acquainted, or of whom Employee learned during Employee’s employment under this Agreement, nor shall Employee make known to any
person, firm, corporation, or other entity, either directly or indirectly, the names or addresses of any such customers or any information relating in any manner to Employer’s trade or business relationship with such customers. 
  
 SECTION TWELVE: 
  

	 	12.1	 	Noncompetition with Employer. Employee agrees that for a period of twelve (12) months after termination of his employment with Employer, or, in the alternative, in the event
any reviewing court finds twelve (12) months to be overbroad or unenforceable, for a period of nine (9) months from the date of such termination, or, in the alternative, in the event any reviewing court finds nine (9) months to be overbroad or
unenforceable, for a period of six (6) months from the date of such termination, or, in the alternative, in the event any reviewing court finds six (6) months to be overbroad or unenforceable, for a period of three (3) months from the date of such
termination, Employee will not, within the United States, directly or indirectly engage in the business of switch development, manufacture, distribution or in any business competitive with Employer. Directly or indirectly engaging in business of
switches or in any competitive business shall include, but not be limited to, engaging in business as owner, partner, or agent, or as Employee of any person, firm, corporation or other entity engaged in such business, or in being interested directly
or indirectly in any such business conducted by any person, firm, corporation or other entity. 

  
 SECTION THIRTEEN: 
  

	 	13.1	 	Vacation. Employee will not earn vacation time under this Agreement and all accumulated vacation under the May 1997 Agreement shall be forfeited as of June 30, 2003.

  
 SECTION FOURTEEN: 
  

	 	14.1	 	Group Insurance Plans. The Employer will provide the Employee and his spouse, at no cost, with full coverage hospitalization, surgical, medical, major medical, dental and
vision insurance as made generally available to all employees of Employer. The Employer will also provide a life and 

  

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 disability policy for the Employee with standard coverage and deductibles as made generally available to
all employees of Employer. 
  
 SECTION FIFTEEN: 
  

	 	15.1	 	Professional Fees. The Employer will pay for all Employee’s professional subscriptions and other educational seminars related to his profession.

  
 SECTION SIXTEEN: 
  

	 	16.1	 	Performance Bonus. Employer agrees to pay Employee a bonus of $5,000 for each United States Patent issued in his name as inventor or co-inventor with a maximum of $20,000
during any fiscal year. A $1,000 bonus will be paid for Foreign Patents issued under the same terms and calendar. 

  

	 	16.2	 	Assignment. Employee hereby assigns to Employer the entire right, title, and interest in and to all inventions, discoveries, and improvements, whether patentable or not or
registrable under copyright or similar statutes, that Employee may conceive or make during the term of this Agreement, or within six months thereafter, and which relate to the business of Employer. Whenever requested to do so by Employer, whether
during the period of Employee’s employment or thereafter, Employee shall execute any and all applications, assignments, and other instruments that Employer shall deem necessary or appropriate to apply for, obtain, or maintain Letters Patent of
the United States or of any foreign country, or to protect otherwise the interest of Employer therein. 

  
 ARTICLE II 
  
 SECTION
ONE: 
  

	 	1.1	 	Survival Upon Change of Control. This Agreement shall survive any Change of Control of Employer, and Employee shall be entitled to the remaining payment(s) due hereunder.
Upon a Change in Control, Employee shall render such services to Employer at such location(s) and during such hours at Employee’s sole discretion. 

  

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 ARTICLE III 
  
 SECTION ONE: 
  

	 	1.1	 	Law To Govern Contract. This Agreement shall be governed by, construed and enforced in accordance with the laws of the State of Arizona. 

  
 SECTION TWO: 
  

	 	2.1	 	Entire Agreement. This Agreement shall constitute the entire agreement between the parties and any prior understanding or representation of any kind preceding the date of
this Agreement shall not be binding upon either party except to the extent incorporated in this Agreement. 

  

	 	2.2	 	Provisions Separable. The provisions of this Agreement are independent of and separable from each other, and no provision shall be affected or rendered invalid or
unenforceable by virtue of the fact that for any reason any other or others of them may be invalid or unenforceable in whole or in part. 

  
 SECTION THREE: 
  

	 	3.1	 	Modification of Agreement. Any modification of this Agreement or additional obligation assumed by either party in connection with this Agreement shall be binding only if
evidenced in writing signed by each party or an authorized representative of each party. 

  

	 	3.2	 	Binding Nature of Agreement; Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, personal
representatives, successors, and assigns; provided that because the obligations of Employee hereunder involve the performance of personal services, such obligations shall not be delegated by Employee. For purposes of this Agreement, successors and
assigns shall include, but not be limited to, any individual, corporation, trust, partnership, or other entity that acquires a majority of the stock or assets of Employer by sale, merger, consolidation, liquidation, or other form of transfer.
Employer will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of Employer to expressly assume and agree to perform this Agreement in the
same manner and to the same extent that Employer would be required to perform it if no such succession had taken place. 

  

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 SECTION FOUR: 
  

	 	4.1	 	Attorneys’ Fees. In the event that any action is filed in relation to this Agreement, the unsuccessful party in the action shall pay to the successful party, in addition
to all the sums that either party may be called on to pay, a reasonable sum for the successful party’s attorneys’ fees. 

  
 SECTION FIVE: 
  

	 	5.1	 	Notices. Any notice provided for or concerning this Agreement shall be in writing and shall be deemed sufficiently given when sent by certified or registered mail if sent to
the respective address of each party set forth at the beginning of this Agreement. 

  
 IN WITNESS WHEREOF, the undersigned have executed this Agreement to be effective on the first date hereinabove written. 
  

	 /s/ Anthony J. Van Zeeland

	 Anthony J. Van Zeeland

	
	 DURASWITCH INDUSTRIES, INC.,

	 A Nevada Corporation

		
	 By:
	 	 /s/ Robert J. Brilon

	 Name:
	 	 Robert J. Brilon

	 Title:
	 	 Chief Executive Officer

  

 9Indemnification Agreement

 EXHIBIT 10.1 
  
 INDEMNIFICATION AGREEMENT 
  
 THIS INDEMNIFICATION AGREEMENT (the “Agreement”) is made and entered into this
         day of                     , 200    , between Inet
Technologies, Inc., a Delaware corporation (the “Company”), and
                                    
(“Indemnitee”). 
  
 A. Indemnitee, as a member of
the Company’s Board of Directors and/or an officer, agent or employee of the Company, performs valuable services for the Company; 
  
 B. The Company and Indemnitee recognize the continued difficulty in obtaining liability insurance for corporate directors, officers, employees,
controlling persons, agents and fiduciaries, the significant increases in the cost of such insurance and the general reductions in the coverage of such insurance. 
  
 C. The Company and Indemnitee further recognize the substantial increase in corporate litigation in general, subjecting
directors, officers, employees, controlling persons, agents and fiduciaries to expensive litigation risks at the same time as the availability and coverage of liability insurance has been severely limited. 
  
 D. The stockholders of the Company have adopted Bylaws (the
“Bylaws”) providing for the indemnification of the officers, directors, agents and employees of the Company to the maximum extent authorized by Section 145 of the Delaware Corporations Code, as amended (“Code”).

  
 E. Indemnitee does not regard the current protection available
for the Company’s directors, officers, employees, controlling persons, agents and fiduciaries as adequate under the present circumstances, and Indemnitee and other directors, officers, employees, controlling persons, agents and fiduciaries of
the Company may not be willing to serve or continue to serve in such capacities without additional protection. 
  
 F. The Bylaws and the Code, by their non-exclusive nature, permit contracts between the Company and its directors, officers, employees, controlling
persons, agents or fiduciaries with respect to indemnification of such persons. 
  
 G. The Company (i) desires to attract and retain the involvement of highly qualified individuals, such as Indemnitee, to serve the Company and, in part, in order to induce Indemnitee to be involved with the Company,
and (ii) wishes to provide for the indemnification and advancing of expenses to Indemnitee to the maximum extent permitted by law. 
  
 H. In view of the considerations set forth above, the Company desires that Indemnitee be indemnified by the Company as set forth herein. 
  
 NOW, THEREFORE, in consideration of Indemnitee’s service to the
Company, the parties hereto agree as follows: 
  
 1.
Indemnity of Indemnitee. The Company hereby agrees to indemnify Indemnitee to the fullest extent permitted by law, even if such indemnification is not specifically authorized 

 
by the other provisions of this Agreement, the Company’s Certificate of Incorporation (the “Certificate”), the Company’s Bylaws or
by statute. In the event of any change after the date of this Agreement in any applicable law, statute or rule which expands the right of a Delaware corporation to indemnify a member of its Board of Directors or an officer, employee, controlling
person, agent or fiduciary, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits afforded by such change. In the event of any change in any applicable law, statute or rule which narrows the right
of a Delaware corporation to indemnify a member of its Board of Directors or an officer, employee, agent or fiduciary, such change, to the extent not otherwise required by such law, statute or rule to be applied to this Agreement, shall have no
effect on this Agreement or the parties’ rights and obligations hereunder. 
  
 2. Additional Indemnity. The Company hereby agrees to hold harmless and indemnify the Indemnitee: 
  
 (a) against any and all expenses incurred by Indemnitee, as set forth in Section 3(a) below; and 
  
 (b) otherwise to the fullest extent not prohibited by the Certificate, the
Bylaws or the Code. 
  
 3. Indemnification Rights.

  
 (a) Indemnification of Expenses. The Company shall
indemnify and hold harmless Indemnitee, together with Indemnitee’s partners, affiliates, employees, agents and spouse and each person who controls any of them or who may be liable within the meaning of Section 15 of the Securities Act of 1933,
as amended (the “Securities Act”), or Section 20 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), to the fullest extent permitted by law if Indemnitee was or is or becomes a party to or
witness or other participant in, or is threatened to be made a party to or witness or other participant in, any threatened, pending or completed action, suit, proceeding or alternative dispute resolution mechanism, or any hearing, inquiry or
investigation that Indemnitee and the Company believe might lead to the institution of any such action, suit, proceeding or alternative dispute resolution mechanism, whether civil, criminal, administrative, investigative or other (hereinafter a
“Claim”) against any and all expenses (including attorneys’ fees and all other costs, expenses and obligations incurred in connection with investigating, defending, being a witness in or participating in (including on appeal),
or preparing to defend, be a witness in or participate in, any such action, suit, proceeding, alternative dispute resolution mechanism, hearing, inquiry or investigation), judgments, fines, penalties and amounts paid in settlement (if such
settlement is approved in advance by the Company, which approval shall not be unreasonably withheld) of such Claim and 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 (collectively, hereinafter “Expenses”), including all interest, assessments and other charges paid or payable in connection with or in respect of such Expenses, incurred by Indemnitee by reason of (or arising in part
out of) any event or occurrence related to the fact that Indemnitee is or was a director, officer, employee, controlling person, agent or fiduciary of the Company or any subsidiary of the Company, or is or was serving at the request of the Company
as a director, officer, employee, controlling person, agent or fiduciary of another corporation, partnership, joint venture, trust or other enterprise, or 

  

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by reason of any action or inaction on the part of Indemnitee while serving in such capacity including, without limitation, any and all losses, claims,
damages, expenses and liabilities, joint or several (including any investigation, legal and other expenses incurred in connection with, and any amount paid in settlement of, any action, suit, proceeding or any claim asserted) under the Securities
Act, the Exchange Act or other federal or state statutory law or regulation, at common law or otherwise, which relate directly or indirectly to the registration, purchase, sale or ownership of any securities of the Company or to any fiduciary
obligation owed with respect thereto (hereinafter an “Indemnification Event”). Such payment of Expenses shall be made by the Company as soon as practicable but in any event no later than ten (10) business days after written demand
by Indemnitee therefor is presented to the Company. 
  
 (b)
Reviewing Party. Notwithstanding the foregoing, (i) the obligations of the Company under Section 2 shall be subject to the condition that the Reviewing Party (as described in Section 11(e) hereof) shall not have determined (in a written
opinion, in any case in which the Independent Legal Counsel as defined in Section 11(d) hereof is involved) that Indemnitee would not be permitted to be indemnified under applicable law, and (ii) Indemnitee acknowledges and agrees that the
obligation of the Company to make an advance payment of Expenses to Indemnitee pursuant to Section 4(a) (an “Expense Advance”) shall be subject to the condition that, if, when and to the extent that the Reviewing Party determines
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, however,
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 the Reviewing Party 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). Indemnitee’s obligation to reimburse the Company for any Expense Advance shall be unsecured and no interest shall be charged thereon. If there has not been a Change in
Control (as defined in Section 11(c) hereof) or if there has been a Change of Control which has been approved by a majority of the Company’s Board of Directors who were directors immediately prior to such Change in Control, the Reviewing Party
shall be selected by the Board of Directors, and if there has been a Change in Control which has not been approved by a majority of the Company’s Board of Directors who were directors immediately prior to such Change in Control, the Reviewing
Party shall be the Independent Legal Counsel referred to in Section 3(e) hereof. If there has been no determination by the Reviewing Party or if the Reviewing Party determines that Indemnitee substantively would not be permitted to be indemnified in
whole or in part under applicable law, Indemnitee shall have the right to commence litigation seeking an initial determination by the court or challenging any such determination by the Reviewing Party or any aspect thereof, including the legal or
factual bases therefor, and the Company hereby consents to service of process and to appear in any such proceeding. Any determination by the Reviewing Party otherwise shall be conclusive and binding on the Company and Indemnitee. 
  
 (c) Contribution. If the indemnification provided for in Section 3(a)
above for any reason is held by a court of competent jurisdiction to be unavailable to an Indemnitee in respect of any losses, claims, damages, expenses or liabilities referred to therein, then the 

  

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Company, in lieu of indemnifying Indemnitee thereunder, shall contribute to the amount paid or payable by Indemnitee as a result of such losses, claims,
damages, expenses or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Company and Indemnitee, or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such
proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Company and Indemnitee in connection with the action or inaction which resulted in such losses, claims,
damages, expenses or liabilities, as well as any other relevant equitable considerations. In connection with the registration of the Company’s securities, the relative benefits received by the Company and Indemnitee shall be deemed to be in the
same respective proportions that the net proceeds from the offering (before deducting expenses) received by the Company and the Indemnitee, in each case as set forth in the table on the cover page of the applicable prospectus, bear to the aggregate
public offering price of the securities so offered. The relative fault of the Company and Indemnitee shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or
alleged omission to state a material fact relates to information supplied by the Company or Indemnitee and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission.

  
 The Company and Indemnitee agree that it would not be just and
equitable if contribution pursuant to this Section 3(c) were determined by pro rata or per capita allocation or by any other method of allocation which does not take account of the equitable considerations referred to in the immediately preceding
paragraph. In connection with the registration of the Company’s securities, in no event shall an Indemnitee be required to contribute any amount under this Section 3(c) in excess of the lesser of (i) that proportion of the total of such losses,
claims, damages or liabilities indemnified against equal to the proportion of the total securities sold under such registration statement which is being sold by Indemnitee or (ii) the proceeds received by Indemnitee from its sale of securities under
such registration statement. No person found guilty of fraudulent misrepresentation (within the meaning of Section 10(f) of the Securities Act) shall be entitled to contribution from any person who was not found guilty of such fraudulent
misrepresentation. 
  
 (d) Survival Regardless of
Investigation. The indemnification and contribution provided for herein will remain in full force and effect regardless of any investigation made by or on behalf of Indemnitee or any officer, director, employee, agent or controlling person of
Indemnitee. 
  
 (e) Change in Control. After the date
hereof, the Company agrees that if there is a Change in Control of the Company (other than a Change in Control which has been approved by a majority of the Company’s Board of Directors who were directors immediately prior to such Change in
Control) then, with respect to all matters thereafter arising concerning the rights of Indemnitee to payments of Expenses under this Agreement or any other agreement or under the Company’s Certificate or Bylaws as now or hereafter in effect,
Independent Legal Counsel (as defined in Section 11(d) hereof) shall be 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 Indemnitee would be permitted to be indemnified under applicable law. The Company agrees to abide by such opinion and to pay the reasonable fees of the Independent Legal Counsel 

  

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referred to above and to fully indemnify such counsel against any and all reasonable expenses (including attorneys’ fees), claims, liabilities and
damages arising out of or relating to this Agreement or its engagement pursuant hereto. 
  
 (f) Mandatory Payment of Expenses. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee has been successful on the merits or otherwise, including, without limitation, the
dismissal of an action without prejudice, in the defense of any action, suit, proceeding, inquiry or investigation referred to in Section 3(a) hereof or in the defense of any claim, issue or matter therein, Indemnitee shall be indemnified against
all Expenses incurred by Indemnitee in connection herewith. 
  
 4. Expenses; Indemnification Procedure. 
  
 (a) Advancement of Expenses. The Company shall advance all Expenses incurred by Indemnitee. The advances to be made hereunder shall be paid by the Company to Indemnitee as soon as practicable but in any event no later than ten (10)
business days after written demand by Indemnitee therefor to the Company. 
  
 (b) Notice/Cooperation by Indemnitee. Indemnitee shall give the Company notice in writing in accordance with Section 15 of this Agreement as soon as practicable of any Claim made against Indemnitee for which
indemnification will or could be sought under this Agreement. 
  
 (c) No Presumptions; Burden of Proof. For purposes of this Agreement, the termination of any Claim by judgment, order, settlement (whether with or without court approval) or conviction, or upon a plea of nolo contendere, or its
equivalent, shall not create a presumption that Indemnitee did not meet any particular standard of conduct or have any particular belief or that a court has determined that indemnification is not permitted by applicable law. In addition, neither the
failure of the Reviewing Party to have made a determination as to whether Indemnitee has met any particular standard of conduct or had any particular belief, nor an actual determination by the Reviewing Party 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. In connection with any determination by the Reviewing Party or otherwise as to whether Indemnitee is entitled to be
indemnified hereunder, the burden of proof shall be on the Company to establish that Indemnitee is not so entitled. 
  
 (d) Notice to Insurers. If, at the time of the receipt by the Company of a notice of a Claim pursuant to Section 4(b) hereof, the Company has
liability insurance in effect which may cover such Claim, the Company shall give prompt notice of the commencement of such Claim to the insurers in accordance with the procedures set forth in each of the Company’s policies. The Company shall
thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such action, suit, proceeding, inquiry or investigation in accordance with the terms of such policies.

  

 5 

 (e) Selection of Counsel. In the event the Company shall be obligated hereunder to pay the
Expenses of any Claim, the Company shall be entitled to assume the defense of such Claim, with counsel approved by the Indemnitee (which approval shall not be unreasonably withheld) upon the delivery to Indemnitee of written notice of its election
to do so. After delivery of such notice, approval of such counsel by Indemnitee and the retention of such counsel by the Company, the Company will not be liable to Indemnitee under this Agreement for any fees of counsel subsequently incurred by
Indemnitee with respect to the same Claim; provided that (i) Indemnitee shall have the right to employ Indemnitee’s counsel in any such Claim at Indemnitee’s expense and (ii) if (A) the employment of counsel by Indemnitee has been
previously authorized by the Company, (B) Indemnitee shall have reasonably concluded that there is a conflict of interest between the Company and Indemnitee in the conduct of any such defense, or (C) the Company shall not continue to retain such
counsel to defend such Claim, then the fees and expenses of Indemnitee’s counsel shall be at the expense of the Company. 
  
 5. Nonexclusivity. The indemnification provided by this Agreement shall be in addition to any rights to which Indemnitee may be entitled
under the Company’s Certificate of Incorporation, its Bylaws, any agreement, any vote of stockholders or disinterested directors, the General Corporation Law of the State of Delaware, or otherwise. The indemnification provided under this
Agreement shall continue as to Indemnitee for any action Indemnitee took or did not take while serving in an indemnified capacity even though Indemnitee may have ceased to serve in such capacity. 
  
 6. No Duplication of Payments. The Company shall not be liable
under this Agreement to make any payment in connection with any Claim made against any Indemnitee to the extent Indemnitee has otherwise actually received payment (under any insurance policy, Certificate of Incorporation, Bylaw or otherwise) of the
amounts otherwise indemnifiable hereunder. 
  
 7. Partial
Indemnification. If any Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for any portion of Expenses incurred in connection with any Claim, but not, however, for all of the total amount thereof,
the Company shall nevertheless indemnify Indemnitee for the portion of such Expenses to which Indemnitee is entitled. 
  
 8. Mutual Acknowledgement. The Company and Indemnitee acknowledge that in certain instances, Federal law or applicable public policy may
prohibit the Company from indemnifying its directors, officers, employees, controlling persons, agents or fiduciaries under this Agreement or otherwise. Each Indemnitee understands and acknowledges that the Company has undertaken or may be required
in the future to undertake with the Securities and Exchange Commission to submit the question of indemnification to a court in certain circumstances for a determination of the Company’s rights under public policy to indemnify Indemnitee.

  
 9. Exceptions. Any other provision herein to the
contrary notwithstanding, the Company shall not be obligated pursuant to the terms of this Agreement: 
  
 (a) Claims Initiated by Indemnitee. To indemnify or advance expenses to any Indemnitee with respect to Claims initiated or brought voluntarily by
Indemnitee and not by way 

  

 6 

 
of defense, except (i) with respect to actions or proceedings to establish or enforce a right to indemnify under this Agreement or any other agreement or
insurance policy or under the Company’s Certificate of Incorporation or Bylaws now or hereafter in effect relating to Claims for Indemnifiable Events, (ii) in specific cases if the Board of Directors has approved the initiation or bringing of
such Claim, or (iii) as otherwise required under Section 145 of the Delaware General Corporation Law, regardless of whether Indemnitee ultimately is determined to be entitled to such indemnification, advance expense payment or insurance recovery, as
the case may be; or 
  
 (b) Claims Under Section 16(b). To
indemnify Indemnitee for expenses and the payment of profits arising from the purchase and sale by Indemnitee of securities in violation of Section 16(b) of the Exchange Act or any similar successor statute; or 
  
 (c) Claims Excluded Under Section 145 of the Delaware General Corporation
Law. To indemnify Indemnitee if (i) Indemnitee did not act in good faith or in a manner reasonably believed by such Indemnitee to be in or not opposed to the best interests of the Company, or (ii) with respect to any criminal action or
proceeding, Indemnitee had reasonable cause to believe Indemnitee’s conduct was unlawful, or (iii) Indemnitee shall have been adjudged to be liable to the Company unless and only to the extent the court in which such action was brought shall
permit indemnification as provided in Section 145(b) of the Delaware General Corporation Law. 
  
 10. 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 any Indemnitee, any Indemnitee’s estate, spouse, heirs,
executors or personal or legal representatives after the expiration of five years from the date of accrual of such cause of action, and any claim or cause of action of the Company shall be extinguished and deemed released unless asserted by the
timely filing of a legal action within such five-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. 
  
 11. Construction of Certain Phrases. 
  
 (a) For purposes of this Agreement, references to the
“Company” shall include, in addition to the resulting corporation, any constituent corporation (including any constituent of a constituent) absorbed in a consolidation or merger which, if its separate existence had continued, would
have had power and authority to indemnify its directors, officers, employees, agents or fiduciaries, so that if Indemnitee is or was a director, officer, employee, agent, control person, or fiduciary of such constituent corporation, or is or was
serving at the request of such constituent corporation as a director, officer, employee, control person, agent or fiduciary of another corporation, partnership, joint venture, employee benefit plan, trust or other enterprise, Indemnitee shall stand
in the same position under the provisions of this Agreement with respect to the resulting or surviving corporation as Indemnitee would have with respect to such constituent corporation if its separate existence had continued. 
  
 (b) For purposes of this Agreement, references to “other
enterprises” shall include employee benefit plans; references to “fines” shall include any excise taxes assessed on any Indemnitee with respect to an employee benefit plan; and references to “serving at the

  

 7 

 
request of the Company” shall include any service as a director, officer, employee, agent or fiduciary of the Company which imposes duties on, or
involves services by, such director, officer, employee, agent or fiduciary with respect to an employee benefit plan, its participants or its beneficiaries; and if any Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to
be in the interests of the participants and beneficiaries of an employee benefit plan, Indemnitee shall be deemed to have acted in a manner “not opposed to the best interests of the Company” as referred to in this Agreement. 
  
 (c) For purposes of this Agreement a “Change in Control”
shall be deemed to have occurred if (i) any “person” (as such term is used in Sections 13(d)(3) and 14(d)(2) of the Exchange Act), other than a trustee or other fiduciary holding securities under an employee benefit plan of the
Company or 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,(A) who is or becomes the beneficial owner, directly or indirectly, of
securities of the Company representing 10% or more of the combined voting power of the Company’s then outstanding Voting Securities, increases his or her beneficial ownership of such securities by 5% or more over the percentage so owned by such
person, or (B) becomes the “beneficial owner” (as defined in Rule 13d-3 under said Exchange Act), directly or indirectly, of securities of the Company representing more than 20% of the total voting power represented by the
Company’s then outstanding Voting Securities, (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 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 or 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 50% 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 of the Company’s assets. 
  

(d) For purposes of this Agreement, “Independent Legal Counsel” shall mean an attorney or firm of attorneys, selected in accordance
with the provisions of Section 3(b) hereof, who shall not have otherwise performed services for the Company or any Indemnitee within the last three years (other than with respect to matters concerning the right of any Indemnitee under this
Agreement, or of other indemnitees under similar indemnity agreements). 
  
 (e) For purposes of this Agreement, a “Reviewing Party” shall mean any appropriate person or body consisting of a member or members of the Company’s Board of Directors or any other person or body appointed by the Board
of Directors who is not a party to the particular Claim for which Indemnitee is seeking indemnification, or Independent Legal Counsel. 
  

 8 

 (f) For purposes of this Agreement, “Voting Securities” shall mean any securities of the
Company that vote generally in the election of directors. 
  
 12. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall constitute an original. 
  
 13. Binding Effect; Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the
parties hereto and their respective successors, including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business and/or assets of the Company, assigns, spouses, heirs, and
personal and legal representatives. The Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to all, substantially all, or a substantial part, of the business and/or assets of the
Company, by written agreement in form and substance satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession had
taken place. This Agreement shall continue in effect with respect to Claims relating to Indemnifiable Events regardless of whether any Indemnitee continues to serve as a director, officer, employee, agent, controlling person, or fiduciary of the
Company or of any other enterprise, including subsidiaries of the Company, at the Company’s request. 
  
 14. Attorneys’ Fees. In the event that any action is instituted by an Indemnitee under this Agreement or under any liability insurance
policies maintained by the Company to enforce or interpret any of the terms hereof or thereof, any Indemnitee shall be entitled to be paid all Expenses incurred by Indemnitee with respect to such action if Indemnitee is ultimately successful in such
action, and shall be entitled to the advancement of Expenses with respect to such action, unless, as a part of such action, a court of competent jurisdiction over such action determines that the material assertions made by Indemnitee as a basis for
such action were not made in good faith or were frivolous. In the event of an action instituted by or in the name of the Company under this Agreement to enforce or interpret any of the terms of this Agreement, Indemnitee shall be entitled to be paid
all Expenses incurred by Indemnitee in defense of such action (including costs and expenses incurred with respect to Indemnitee counterclaims and cross-claims made in such action), and shall be entitled to the advancement of Expenses with respect to
such action, unless, as a part of such action, a court having jurisdiction over such action determines that the Indemnitee’s material defenses to such action were made in bad faith or were frivolous. 
  
 15. Notice. All notices and other communications required or
permitted hereunder shall be in writing, shall be effective when given, and shall in any event be deemed to be given (a) five calendar days after deposit with the U.S. Postal Service or other applicable postal service, if delivered by first class
mail, postage prepaid, (b) upon delivery, if delivered by hand, (c) one business day after the business day of deposit with Federal Express or similar overnight courier, freight prepaid, or (d) one day after the business day of delivery by facsimile
transmission, if deliverable by facsimile transmission, with copy by first class mail, postage prepaid, and shall be addressed if to Indemnitee, at Indemnitee’s address as set forth beneath Indemnitee’s signature to this Agreement and if
to the Company at the address of its principal 

  

 9 

 
corporate offices (attention: Chief Executive Officer) or at such other address as such party may designate by ten calendar days’ advance written notice
to the other party hereto. 
  
 16. Consent to
Jurisdiction. The Company and Indemnitee each hereby irrevocably consent to the jurisdiction of the courts of the State of Delaware for all purposes in connection with any action or proceeding which arises out of or relates to this Agreement
and agree that any action instituted under this Agreement shall be commenced, prosecuted and continued only in the Court of Chancery of the State of Delaware in and for New Castle County, which shall be the exclusive and only proper forum for
adjudicating such a claim. 
  
 17. 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, and the remaining provisions shall remain enforceable to the fullest extent permitted by law. Furthermore, to the fullest extent possible, the provisions of this Agreement (including, without limitations, each portion of this
Agreement containing any provision held to be invalid, void or otherwise unenforceable, that is not itself invalid, void or unenforceable) shall be construed so as to give effect to the intent manifested by the provision held invalid, illegal or
unenforceable. 
  
 18. Choice of Law. This Agreement
shall be governed by and its provisions construed and enforced in accordance with the laws of the State of Delaware, as applied to contracts between Delaware residents, entered into and to be performed entirely within the State of Delaware, without
regard to the conflict of laws principles thereof. 
  
 19.
Subrogation. In the event of payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all documents required and shall do all acts that
may be necessary to secure such rights and to enable the Company effectively to bring suit to enforce such rights. 
  
 20. Amendment and Termination. No amendment, modification, termination or cancellation of this Agreement shall be effective unless it is in
writing signed by all 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.

  
 21. Integration and Entire Agreement. This
Agreement sets forth the entire understanding between the parties hereto and supersedes and merges all previous written and oral negotiations, commitments, understandings and agreements relating to the subject matter hereof between the parties
hereto. 
  
 22. No Construction as Employment
Agreement. Nothing contained in this Agreement shall be construed as giving the Indemnitee any right to be retained in the employ of the Company or any of its subsidiaries. 
  
 23. Corporate Authority. The Board of Directors of the Company has approved the terms of this Agreement.

  

 10 

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

	 COMPANY:
  
 Inet Technologies, Inc.,
 a Delaware corporation

		
	 By:
	 	  

	 	 	 Elie S. Akilian,
 President and Chief Executive Officer

  

	 Address:
	 	 1500 North Greenville Ave.
 Richardson, Texas, 75081

  

	INDEMNITEE:
	
	  

	  

		
	 Address:
	 	  

	 	 	  

  

 11

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