Document:

Exhibit 10.2f

 

FORM OF

 

GREEN BANCORP, INC.
 2014 OMNIBUS EQUITY INCENTIVE PLAN

 

RESTRICTED STOCK UNIT AWARD GRANT NOTICE

 

Green Bancorp, Inc. (the “Company”), pursuant to its 2014 Omnibus Equity Incentive Plan (the “Plan”), hereby grants to the individual listed below (the “Participant”), an Award of restricted stock units (“Restricted Stock Units” or “RSUs”).  Each vested Restricted Stock Unit represents the right to receive, in accordance with the Restricted Stock Unit Award Agreement attached hereto as Exhibit A (the “Agreement”), one share of the common stock of the Company (“Share”).  This Award of Restricted Stock Units is subject to all of the terms and conditions set forth herein and in the Agreement and the Plan, which are incorporated herein by reference.

 

Capitalized terms not specifically defined herein shall have the meanings specified in the Plan.

 

Participant:                                 [·]

 

Grant Date:                                [·]

 

Total Number of RSUs Subject to Grant:                    [·]

 

Vesting Schedule:  The RSUs will vest as follows: one-fourth (1/4) of the RSUs will vest on each of: (i) the second (2nd) anniversary of the Grant Date; (ii) the third (3rd) anniversary of the Grant Date; (iii) the fourth (4th) anniversary of the Grant Date; and (iv) the fifth (5th) anniversary of the Grant Date (each, a “Time-Based Vesting Date”); provided, that, the Participant continues to be in the employ or service of the Company on each Time-Based Vesting Date.

 

Termination:  Except to the extent paid in accordance with the above vesting schedule, the RSUs shall terminate, become forfeited or expire without settlement in accordance with the terms of the Agreement.

 

By his or her signature, the Participant agrees to be bound by the terms and conditions of the Plan, the Agreement and this Notice.  The Participant has reviewed the Agreement, the Plan and this Notice in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Notice and fully understands all provisions of this Notice, the Agreement and the Plan.  The Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions arising under the Plan or relating to the Award of RSUs.  [For employee awards only: In addition, by signing below, the Participant also agrees that the Company, in its sole discretion, may satisfy any withholding obligations in accordance with Section 2.6(b) of the Agreement by (i) withholding shares of Common Stock otherwise issuable to the Participant upon vesting of the RSUs, (ii) instructing a broker on the Participant’s behalf to sell shares of Common Stock otherwise issuable to the Participant upon  vesting of the RSUs and submit the proceeds of such sale to the Company, or (iii) using any other method permitted by Section 2.6(b) of the Agreement or Section 16 the Plan.]

 

 

	
GREEN BANCORP, INC.
    	
 
    	
PARTICIPANT
    
	
 
    	
 
    	
 
    
	
By:
    	
 
    	
 
    	
By:
    	
 
    
	
 
    	
 
    	
 
    
	
Print Name:
    	
 
    	
 
    	
Print Name:
    	
 
    
	
 
    	
 
    	
 
    
	
Title:
    	
 
    	
 
    	
 
    
								

 

 

Exhibit A

 

RESTRICTED STOCK UNIT AWARD AGREEMENT

 

Pursuant to the Restricted Stock Unit Award Grant Notice (the “Notice”) to which this Restricted Stock Unit Award Agreement (this “Agreement”) is attached, Green Bancorp, Inc. (the “Company”), has granted to the Participant an Award of restricted stock units (“Restricted Stock Units” or “RSUs”) under the Company’s 2014 Omnibus Equity Incentive Plan (the “Plan”).  Each vested Restricted Stock Unit represents the right to receive one share of the Common Stock of the Company (“Share”) to purchase the number of Shares indicated in the Notice.  Capitalized terms not specifically defined herein shall have the meanings specified in the Plan and Notice.

 

ARTICLE I

 

GENERAL

 

1.1                               Incorporation of Terms of Plan.  The RSUs are subject to the terms and conditions of the Plan, which are incorporated herein by reference.  In the event of any inconsistency between the Plan and this Agreement, the terms of the Plan shall control.

 

ARTICLE II

 

GRANT OF RESTRICTED STOCK UNITS

 

2.1                               Grant of RSUs.  In consideration of the Participant’s employment or service to the Company or any Affiliate and other good and valuable consideration, effective as of the Grant Date set forth in the Notice, the Company hereby grants to the Participant an Award of RSUs under the Plan, upon the terms and conditions set forth in the Plan and this Agreement.

 

2.2                               Unsecured Obligation.  Unless and until the RSUs have vested in the manner set forth in Article 2 hereof, the Participant will have no right to receive Common Stock with respect to any such RSUs.  Prior to actual payment of any vested RSUs, such RSUs will represent an unsecured obligation of the Company, payable (if at all) only from the general assets of the Company.

 

2.3                               Vesting Schedule.  Subject to Sections 2.5 and 3.1 hereof, the RSUs shall vest and become nonforfeitable with respect to the applicable portion thereof according to the vesting schedule set forth in the Notice (rounding down to the nearest whole Share).

 

2.4                               Consideration to the Company.  In consideration of the grant of the Award of RSUs pursuant hereto, the Participant agrees to render faithful and efficient employment or other service to the Company or any Affiliate.  Nothing in the Plan or this Agreement shall confer upon the Participant any right to continue in the employment or service of the Company or any Affiliate or shall interfere with or restrict in any way the rights of the Company and its Affiliates, which rights are hereby expressly reserved, to discharge or terminate the employment or service of the Participant at any time for any reason whatsoever, with or without Cause.

 

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2.5                               Forfeiture, Termination and Cancellation Upon Termination of Employment or Service.

 

(a)                                 Upon the Participant’s termination of employment or service with the Company and all Affiliates thereof, the RSUs shall be treated as follows, subject to Section 3.1 hereof and except as specifically provided in an employment or other agreement between the Company and the Participant:

 

(i)                                     Without Cause, For Good Reason.  In the event that the employment or service of the Participant with the Company and all Affiliates thereof (including by reason of the Participant’s employer ceasing to be an Affiliate of the Company) is terminated by the Company or any Affiliate thereof without Cause or by the Participant for Good Reason, as of the commencement of business on the date of such termination, (A) the RSUs granted to the Participant shall become vested in an amount equal to the product of (x) the number of unvested RSUs as of the date of such termination multiplied by (y) a fraction, the numerator of which is the number of days between the date of such termination and the Grant Date and the denominator of which is 1825 and(B) the restrictions, payment conditions and forfeiture conditions applicable to such vested RSUs shall lapse.

 

(ii)                                  With Cause.  In the event of the termination of the Participant’s employment or service by the Company or any Affiliate thereof for Cause, all outstanding RSUs (whether vested or not) granted to the Participant shall terminate at the commencement of business on the date of such termination.

 

(iii)                               Without Good Reason.  In the event of the termination of the Participant’s employment or service by the Participant without Good Reason, any then-unvested RSUs granted to the Participant shall terminate at the commencement of business on the date of such termination.

 

(iv)                              Death or Disability.  In the event of the termination of the Participant’s employment or service with the Company and all Affiliates thereof by reason of the Participant’s death or Disability, and provided that no event described in Sections 2.5(a)(ii) or 2.5(b) hereof has occurred, as of the commencement of business on the date of such termination, (A) all RSUs granted to the Participant shall become fully vested, (B) the restrictions, payment conditions and forfeiture conditions applicable to such RSUs shall lapse.

 

(b)                                 In the sole discretion of the Committee, RSUs may be affected, both with regard to vesting schedule and termination, by leaves of absence, including unpaid and un-protected leaves of absence, changes from full-time to part-time employment or other changes in the employment status of the Participant not described in Section 2.5(a) hereof.

 

2.6                               Issuance of Common Stock upon Vesting.

 

(a)                     The RSUs shall represent the right to receive, on the first business day following the Vesting Date, the number of Shares determined in accordance with the Vesting Schedule set forth on the Notice of Grant to have been earned to the extent determined by the Compensation Committee after the applicable year-end audit, and provided that the Participant remains employed by the Company or an Affiliate through the Vesting Date, subject to the

 

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provisions of Section 2.5 or Section 3.1.  Notwithstanding the above, earned Shares shall be treated as delivered on the first business day following the Vesting Date (the “Delivery Date”) provided that they are delivered on a date following the Delivery Date that is in the same calendar year as the Delivery Date.  On the Delivery Date, the Company shall deliver to the Participant (or any transferee permitted under Section 4.2 hereof) a number of Shares (either by delivering one or more certificates for such Shares or by entering such Shares in book entry form, as determined by the Company in its sole discretion) equal to the number of RSUs subject to this Agreement that vest on the Vesting Date, unless such RSUs terminate prior to the Vesting Date pursuant to Section 2.5 hereof.  Notwithstanding the foregoing, in the event Shares cannot be issued pursuant to Section 22 of the Plan, the Shares shall be issued pursuant to the preceding sentence as soon as administratively practicable after the Administrator determines that Shares can again be issued in accordance with such Section.

 

(b)                     [For employee awards only: As set forth in Section 16 of the Plan, the Company shall have the authority and the right to deduct or withhold, or to require the Participant to remit to the Company, an amount sufficient to satisfy all applicable federal, state and local taxes required by law to be withheld with respect to any taxable event arising in connection with the RSUs.  The Company shall not be obligated to deliver any new certificate representing Shares to the Participant or the Participant’s legal representative or enter such Shares in book entry form unless and until the Participant or the Participant’s legal representative shall have paid or otherwise satisfied in full the amount of all federal, state and local taxes applicable to the taxable income of the Participant resulting from the grant or vesting of the RSUs or the issuance of Shares.]

 

2.7                               Conditions to Delivery of Shares.  The Shares deliverable hereunder may be either previously authorized but unissued Shares, treasury Shares or issued Shares which have then been reacquired by the Company.  Such Shares shall be fully paid and nonassessable.  The Company shall not be required to issue or deliver any certificates or make any book entries evidencing Shares deliverable hereunder prior to fulfillment of the conditions set forth in Section 22 of the Plan.

 

ARTICLE III

 

CHANGE IN CONTROL

 

3.1                               Change in Control.  In the event of a Change in Control, the RSUs shall be treated in accordance with Section 13 of the Plan.

 

ARTICLE IV

 

OTHER PROVISIONS

 

4.1                               Administration.  The Administrator shall have the power and authority to interpret and construe the terms and provisions of this Agreement and to adopt such rules for the administration, interpretation and application of this Agreement as are consistent therewith and to interpret, amend or revoke any such rules.  All decisions made by the Administrator shall be final, conclusive and binding on all persons, including the Participant, the Company and all other interested persons.

 

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4.2                               Transferability of Grant.  Except as otherwise set forth in the Plan:

 

(a)                     The RSUs may not be sold, pledged, assigned or transferred in any manner other than by will or the laws of descent and distribution;

 

(b)                     Neither the RSUs nor any interest or right therein shall be liable for the debts, contracts or engagements of the Participant or his or her successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect, except to the extent that such disposition is permitted by Section 4.2(a).

 

4.3                               Voting and Other Rights.

 

(a)                                 The Participant shall have no rights of a stockholder with respect to any RSU (including the right to vote the underlying shares of Company Stock or to receive any distributions or dividends) unless and until a share of Company Stock is issued in respect of such RSU on the applicable Delivery Date.

 

(b)                                 Notwithstanding the foregoing or anything set forth in the Plan to the contrary, on each date that the Company pays a dividend to holders of Company Stock generally between the Grant Date and the applicable Delivery Date, the Company shall credit to the Grantee an additional number of RSUs (the “Additional RSUs”) equal to (i) the product of the total number of then-outstanding RSUs and Additional RSUs previously credited to the Grantee under this Agreement and the aggregate amount or value of the dividend paid per share of Company Stock by the Company on such date, (ii) divided by the Fair Market Value per share of Company Stock on the payment date for such dividend.  Any Additional RSUs shall be subject to same vesting and payment provisions as the underlying RSUs.

 

4.4                               Taxes.  The Participant represents that the Participant has consulted with any tax consultants the Participant deems advisable in connection with the grant of RSUs and the issuance of Shares with respect thereto and that the Participant is not relying on the Company for any tax advice.  The Company makes no warranties or representations whatsoever to the Participant regarding the tax consequences of the grant of RSUs or the receipt of Shares with respect thereto.  The Participant shall be solely responsible for any taxes in respect of the RSUs.

 

4.5                               Adjustments.  The Participant acknowledges that the RSUs are subject to modification and termination in certain events as provided in this Agreement and Section 5 of the Plan.

 

4.6                               Notices.  Any notice to be given under the terms of this Agreement to the Company shall be addressed to the Company in care of the Legal Department of the Company at the Company’s principal office, and any notice to be given to the Participant shall be addressed to the Participant at the Participant’s last address reflected on the Company’s records.

 

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4.7                               Participant’s Representations.  If the Shares issuable hereunder have not been registered under the Securities Act or any applicable state laws on an effective registration statement at the time of such issuance, the Participant shall, if required by the Company, concurrently with such issuance, make such written representations as are deemed necessary or appropriate by the Company and/or its counsel.

 

4.8                               Titles.  Titles are provided herein for convenience only and are not to serve as a basis for interpretation or construction of this Agreement.

 

4.9                               Governing Law.  The laws of the State of Texas shall govern the interpretation, validity, administration, enforcement and performance of the terms of this Agreement regardless of the law that might be applied under principles of conflicts of laws.

 

4.10                        Conformity to Securities Laws.  The Participant acknowledges that the Plan and this Agreement are intended to conform to the extent necessary with all provisions of the Securities Act and the Exchange Act and any and all regulations and rules promulgated by the Securities and Exchange Commission thereunder, and state securities laws and regulations.  Notwithstanding anything herein to the contrary, the Plan shall be administered, and the RSUs are granted and settled, only in such a manner as to conform to such laws, rules and regulations.  To the extent permitted by applicable law, the Plan and this Agreement shall be deemed amended to the extent necessary to conform to such laws, rules and regulations.

 

4.11                        Amendments and Termination.  To the extent permitted by the Plan, this Agreement may be wholly or partially amended, altered or terminated at any time or from time to time by the Administrator or the Board, but no amendment, alteration, or termination of this Agreement shall be made that would materially impair the rights of a Participant under the RSUs without such Participant’s consent.

 

4.12                        Successors and Assigns.  The Company may assign any of its rights under this Agreement to single or multiple assignees, and this Agreement shall inure to the benefit of the successors and assigns of the Company.  Subject to the restrictions on transfer herein set forth in Section 4.2 hereof, this Agreement shall be binding upon the Participant and his or her heirs, executors, administrators, successors and assigns.

 

4.13                        Limitations Applicable to Section 16 Persons.  Notwithstanding any other provision of the Plan or this Agreement, if the Participant is subject to Section 16 of the Exchange Act, then the Plan, the RSUs and this Agreement shall be subject to any additional limitations set forth in any applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule.  To the extent permitted by applicable law, this Agreement shall be deemed amended to the extent necessary to conform to such applicable exemptive rule.

 

4.14                        Entire Agreement.  The Plan, the Notice and this Agreement (including all Exhibits thereto, if any) [and any employment agreements between the Company and the Participant] constitute the entire agreement of the parties and supersede in their entirety all prior undertakings and agreements of the Company and the Participant with respect to the subject matter hereof.

 

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4.15                        Section 409A.  This Restricted Stock Unit Award is intended to comply with Code Section 409A to the extent subject thereto and shall be interpreted in accordance with Code Section 409A and Department of Treasury regulations and other interpretive guidance issued thereunder, including without limitation any such regulations or other guidance that may be issued after the Grant Date.  Notwithstanding any provision in the Plan or Agreement to the contrary, no payment or distribution under this Agreement that constitutes an item of deferred compensation under Code Section 409A and becomes payable by reason of the Participant’s termination of employment or service with the Company will be made to the Participant until the Participant’s termination of employment or service constitutes a “separation from service” (as defined in Code Section 409A).  For purposes of this Award Agreement, each amount to be paid or benefit to be provided shall be construed as a separate identified payment for purposes of Code Section 409A.  [For employee awards only: If a participant is a “specified employee” (as defined in Code Section 409A), then to the extent necessary to avoid the imposition of taxes under Code Section 409A, such Participant shall not be entitled to any payments upon a termination of his or her employment or service until the earlier of:  (i) the expiration of the six (6)-month period measured from the date of such Participant’s “separation from service” or (ii) the date of such Participant’s death.  Upon the expiration of the applicable waiting period set forth in the preceding sentence, all payments and benefits deferred pursuant to this Section 4.15 (whether they would have otherwise been payable in a single lump sum or in installments in the absence of such deferral) shall be paid to such Participant in a lump sum as soon as practicable, but in no event later than sixty (60) calendar days, following such expired period, and any remaining payments due under this Agreement will be paid in accordance with the normal payment dates specified for them herein.]  The Administrator may, in its discretion, adopt such amendments to the Plan, this Agreement or the Notice or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, as the Administrator determines are necessary or appropriate to comply with the requirements of Code Section 409A.

 

4.16                        Electronic Signature; Electronic Delivery and Acceptance.  The Participant’s electronic signature of this Agreement shall have the same validity and effect as a signature affixed by hand.  The Company may, in its sole discretion, decide to deliver any documents related to the Participant’s current or future participation in the Plan by electronic means.  The Participant hereby consents to receive such documents by electronic delivery and agrees to participate in the Plan through an on-line or electronic system established and maintained by the Company or a third party designated by the Company.

 

4.17                        Compensation Recovery Policy.  The RSUs and any payments or compensation associated therewith shall be subject to forfeiture or recovery by the Company or other action pursuant to any compensation recovery policy adopted by the Board or the Committee at any time, including in response to the requirements of Section 10D of the Exchange Act and any implementing rules and regulations thereunder, or as otherwise required by law.  This Agreement may be unilaterally amended by the Committee to comply with such compensation recovery policy.

 

4.18                        Waiver.  The Participant acknowledges that a waiver by the Company of a breach of any provision of this Agreement shall not operate or be construed as a waiver of any other provision of this Agreement, or of any subsequent breach by the Participant.

 

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4.19                        Severability.  The provisions of this Agreement are severable and if any one or more provisions are determined to be illegal or otherwise unenforceable, in whole or in part, the remaining provisions shall nevertheless be binding and enforceable.

 

4.20                        Tax Withholding.  Regardless of any action the Company and its Affiliates or, if Participant is an employee, the employer (the “Employer”) takes with respect to any or all income tax, social insurance, payroll tax, payment on account or other tax related items related to Participant’s participation in the Plan and legally applicable to Participant (“Tax-Related Items”), Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains Participant’s responsibility and may exceed the amount actually withheld by the Company or any Affiliate.  Participant further acknowledges that the Company, its Affiliates and/or the Employer (i) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the RSUs, including, but not limited to, the grant or vesting of the RSUs, the subsequent sale of Shares acquired pursuant to the RSUs and the receipt of any dividends; and (ii) do not commit to and are under no obligation to structure the terms of the grant or any aspect of the RSUs to reduce or eliminate Participant’s liability for Tax-Related Items or achieve any particular tax result.  Further, if Participant has become subject to tax in more than one jurisdiction between the Grant Date and the date of any relevant taxable or tax withholding event, as applicable, Participant acknowledges that the Company, its Affiliates and/or the Employer (or former Employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction.  If Participant is subject to Tax-Related Items in more than one jurisdiction between the Date of Grant and the date of any relevant taxable or tax withholding event, as applicable, Participant acknowledges that the Company and/or the Employer (or former Employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction.  If the obligation for Tax-Related Items is satisfied by withholding in Shares, for tax purposes, Participant is deemed to have been issued the full number of Shares subject to the RSUs, notwithstanding that a number of the Shares are held back solely for the purpose of paying the Tax-Related Items due as a result of any aspect of Participant’s participation in the Plan.

 

4.21                        Data Privacy.  Participant hereby explicitly and unambiguously consents to the collection, use and transfer, in electronic or other form, of Participant’s personal data as described in this Agreement and any other grant materials by and among, as applicable, the Company, the Employer and any Affiliate of the Company for the exclusive purpose of implementing, administering and managing Participant’s participation in the Plan.  Participant understands that the Company and the Employer may hold certain personal information about Participant, including, but not limited to, Participant’s name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, any Shares or directorships held in the Company, details of all RSUs or any other entitlement to Shares awarded, canceled, exercised, vested, unvested or outstanding in Participant’s favor (“Data”), for the exclusive purpose of implementing, administering and managing the Plan.  Participant understands that Data may be transferred to a stock plan transfer agent, trustee, broker or administrator designated by the Company or any such other stock plan service provider as may be designated by the Company in the future, which is assisting the Company with the implementation, administration and management of the Plan.  Participant understands that the recipients of the Data may be located in the United States or elsewhere, and that the recipient’s country (e.g., the United States) may have different data privacy laws and

 

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protections than Participant’s country.  Participant understands that if he or she resides outside the United States, he or she may request a list with the names and addresses of any potential recipients of the Data by contacting his or her local human resources representative.  Participant authorizes the Company, the Company’s designated transfer agent, trustee, stock plan broker or administrator and any other possible recipients which may assist the Company (presently or in the future) with implementing, administering and managing the Plan to receive, possess, use, retain and transfer the Data, in electronic or other form, for the sole purposes of implementing, administering and managing Participant’s participation in the Plan.  Participant understands that Data will be held only as long as is necessary to implement, administer and manage Participant’s participation in the Plan.  Participant understands that he or she may, at any time, view Data, request additional information about the storage and processing of Data, require any necessary amendments to Data or refuse or withdraw the consents herein, in any case without cost, by contacting in writing the Company.  Further, Participant understands that he or she is providing the consents herein on a purely voluntary basis.  If Participant does not consent, or if Participant later seeks to revoke his or her consent, his or her employment or service relationship with the Company, its Affiliates or Employer will not be adversely affected; the only adverse consequence of refusing or withdrawing Participant’s consent is that the Company would not be able to grant Participant RSUs or other equity awards or administer or maintain such awards.  Therefore, Participant understands that refusing or withdrawing his or her consent may affect Participant’s ability to participate in the Plan.  For more information on the consequences of Participant’s refusal to consent or withdrawal of consent, Participant understands that he or she may contact the Company.

 

A-8Exhibit 10.3

 

FORM OF INDEMNIFICATION AGREEMENT

 

This INDEMNIFICATION AGREEMENT, dated as of June 30, 2010, is by and between Green Bancorp, Inc., a Texas corporation (“Indemnitor”), and [   ] (the “Indemnitee”).

 

WHEREAS, it is essential to Indemnitor to retain and attract as directors the most capable persons available; and

 

WHEREAS, Indemnitee is a director of Indemnitor; and

 

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

 

WHEREAS, the Organizational Documents (as defined herein) require Indemnitor to indemnify and advance expenses to its directors to the extent provided therein, and Indemnitee serves as a director of Indemnitor, in part, in reliance on such provisions in the Organizational Documents; and

 

WHEREAS, Indemnitor has determined that its inability to retain and attract as directors the most capable persons available would be detrimental to the interests of Indemnitor, and that Indemnitor therefore should seek to assure such persons that indemnification and insurance coverage will be available in the future; and

 

WHEREAS, in recognition of Indemnitee’s need for substantial protection against personal liability in order to enhance Indemnitee’s continued service to Indemnitor in an effective manner, the increasing difficulty in obtaining satisfactory director and officer liability insurance coverage, and Indemnitee’s reliance on the Organizational Documents, and in part to provide Indemnitee with specific contractual assurance that the protection promised by the Organizational Documents will be available to Indemnitee (regardless of, among other things, any amendment to or revocation of the applicable provisions of the Organizational Documents or any change in the composition of the governing bodies of Indemnitor or acquisition transaction relating to Indemnitor), Indemnitor wishes to provide in this Agreement for the indemnification of and the advancing of expenses to Indemnitee to the fullest extent (whether partial or complete) permitted by law and as set forth in this Agreement, and, to the extent insurance is maintained, for the continued coverage of Indemnitee under the directors’ and officers’ liability insurance policy of Indemnitor;

 

NOW, THEREFORE, in consideration of the premises and of Indemnitee continuing to serve Indemnitor directly or, at its request, as an officer, director, manager, member, partner, tax matters partner, fiduciary or trustee of, or in any other capacity with, 

 

 

another Person (as defined below) or any employee benefit plan, and intending to be legally bound hereby, the parties hereto agree as follows:

 

1.             Certain Definitions.  In addition to terms defined elsewhere herein, the following terms have the following meanings when used in this Agreement:

 

(a)                                 Agreement:  shall mean this Indemnification Agreement, as amended from time to time hereafter.

 

(b)                                 Board of Directors:  shall mean the Board of Directors of Indemnitor.

 

(c)                                  Change in Control:  shall be deemed to have occurred if (i) any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended), other than a trustee or other fiduciary holding securities under an employee benefit plan of Indemnitor or a Person owned directly or indirectly by the shareholders of Indemnitor in substantially the same proportions as their ownership of stock of Indemnitor, is or becomes the “beneficial owner” (as defined in Rule 13d-3 under said Act), directly or indirectly, of securities of Indemnitor representing 50% or more of the total voting power represented by Indemnitor’s then outstanding Voting Securities, or (ii) during any period of two consecutive years, individuals who at the beginning of such period constitute the Board of Directors and any new director whose appointment by the Board of Directors or nomination for election by Indemnitor’s shareholders was approved by a vote of at least a majority of the directors then still in office who either were directors at the beginning of the period or whose appointment or nomination for election was previously so approved, cease for any reason to constitute a majority thereof, or (iii) the shareholders of Indemnitor approve a merger or consolidation of Indemnitor with any other Person, other than a merger or consolidation which would result in the Voting Securities of Indemnitor 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 Indemnitor or such surviving entity outstanding immediately after such merger or consolidation, or the shareholders of Indemnitor approve a plan of complete liquidation of Indemnitor or an agreement for the sale or disposition by Indemnitor of (in one transaction or a series of transactions) all or substantially all of Indemnitor’s assets.

 

(d)                                 Claim:  means any threatened, asserted, pending or completed civil, criminal, administrative, investigative or other action, suit or proceeding, or appeal thereof, or any inquiry or investigation, 

 

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whether instituted by (or in the right of) Indemnitor or any other Person, that Indemnitee in good faith believes might lead to the institution of any such action, suit or proceeding, whether civil, criminal, administrative, investigative or other, including any arbitration or other alternative dispute resolution mechanism, in which Indemnitee was, is, or may be or will be involved as a party, witness or otherwise.

 

(e)                                  Fund Entities:       means any Person or employee benefit plan (other than Indemnitor or any other Person or any employee benefit plan Indemnitee has agreed, on behalf of Indemnitor or at Indemnitor’s request, to serve as a director, officer, employee or agent and which service is covered by the indemnity described in this Agreement) from whom an Indemnitee may be entitled to indemnification or advancement of expenses with respect to which, in whole or in part, Indemnitor may also have an indemnification or advancement obligation.

 

(f)                                   Indemnifiable Expenses:  means (i) any and all direct and indirect liabilities, including judgments, damages, arbitration awards, fines, penalties, interest, appeal bonds and amounts paid in settlement with the approval of Indemnitor, (ii) all reasonable expenses and reasonable counsel fees and disbursements (including, without limitation, reasonable experts’ fees, court costs, retainers, transcript fees, duplicating, printing and binding costs, as well as telecommunications, postage and courier charges) paid or incurred in connection with investigating, defending, being a witness in or participating in (including on appeal), or preparing to investigate, defend, be a witness in or participate in, any Claim relating to any Indemnifiable Event, (iii) any liability pursuant to a loan guaranty or otherwise, for any indebtedness of Indemnitor or any subsidiary of Indemnitor, including, without limitation, any indebtedness which Indemnitor or any subsidiary of Indemnitor has assumed or taken subject to, and (iv) any liabilities which an Indemnitee incurs as a result of acting on behalf of Indemnitor (whether as a fiduciary or otherwise) in connection with the operation, administration or maintenance of an employee benefit plan or any related trust or funding mechanism (whether such liabilities are in the form of excise taxes assessed by the United States Internal Revenue Service, penalties assessed by the Department of Labor, restitutions to such a plan or trust or other funding mechanism or to a participant or beneficiary of such plan, trust or other funding mechanism, or otherwise), and shall include (without limitation) all reasonable expenses and reasonable counsel fees and disbursements paid or incurred by or on behalf of an Indemnitee in connection with preparing and submitting any requests or statements for indemnification, advancement or any other right 

 

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provided by this Agreement (including, without limitation, such reasonable fees or expenses incurred in connection with legal proceedings contemplated by Section 2(d) hereof).

 

(g)                                  Indemnifiable Event:  means any event, occurrence, act or omission, whether occurring before, on or after the date of this Agreement, arising from the performance of Indemnitee’s duties or obligations to Indemnitor or any of its subsidiaries or affiliates, including in connection with any civil, criminal, administrative, investigative or other action, suit or proceeding to which Indemnitee may hereafter be made a party or subject to by reason of being or having been an officer, director, manager, member, partner, tax matters partner, agent, fiduciary or trustee of, or having served in any other capacity with, another Person or any employee benefit plan at the request of Indemnitor.

 

(h)                                 Independent Legal Counsel:  means an attorney or firm of attorneys, selected in accordance with the provisions of Section 3, who shall not have otherwise performed services for Indemnitor or the Indemnitee within the last five years (other than with respect to matters concerning the rights of Indemnitee under this Agreement, or of other indemnitees under similar indemnity agreements).

 

(i)                                     Jointly Indemnifiable Claim:  means any Claim for which Indemnitee shall be entitled to indemnification from both the Fund Entities and Indemnitor pursuant to applicable law, any indemnification agreement or the certificate or articles of incorporation, by-laws, partnership agreement, operating agreement, certificate of formation, certificate of limited partnership or comparable organizational documents of Indemnitor and the Fund Entities.

 

(j)                                    Organizational Documents:  mean the certificate of formation and bylaws of Indemnitor, each as amended from time to time.

 

(k)                                 Person:  means any individual, corporation, firm, partnership, joint venture, limited liability company, estate, trust, business association, organization, governmental entity or other entity.

 

(l)                                     Reviewing Party:  means any appropriate person or body consisting of a member or members of the 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.

 

(m)                             Voting Securities:  means securities of Indemnitee which vote generally in the election of directors.

 

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2.             Basic Indemnification Arrangement; Advancement of Expenses.

 

(a)           In the event that Indemnitee was, 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 or was, is or becomes subject to or is threatened to be made subject to, a Claim by reason of (or arising in part out of) an Indemnifiable Event, Indemnitor shall indemnify and hold harmless Indemnitee, or cause such Indemnitee to be indemnified, to the fullest extent permitted by applicable law in effect on the date hereof and as amended from time to time; provided, however, that to the extent allowable under applicable law, no change in such law shall have the effect of reducing the benefits available to Indemnitee hereunder based on such law as in effect on the date hereof or as such benefits may improve as a result of amendments after the date hereof. The rights of Indemnitee provided in this Section 2 shall include, without limitation, the rights set forth in the other sections of this Agreement. Payments of Indemnifiable Expenses shall be made as soon as practicable but in any event no later than thirty (30) days after written demand is presented to Indemnitor, against any and all Indemnifiable Expenses.

 

(b)           If so requested by Indemnitee, Indemnitor shall advance, or cause to be advanced (within ten business days of such request), any and all Indemnifiable Expenses incurred by Indemnitee (an “Expense Advance”).  Indemnitor shall, in accordance with such request (but without duplication), either (i) pay, or cause to be paid, such Indemnifiable Expenses on behalf of Indemnitee, or (ii) reimburse, or cause the reimbursement of, Indemnitee for such Indemnifiable Expenses.  Subject to Section (c) below and the requirements of Section 8.104 of the Texas Business Organizations Code, Indemnitee’s right to an Expense Advance is absolute and shall not be subject to any condition that the Board of Directors shall not have determined that Indemnitee is not entitled to be indemnified under applicable law.  However, the obligation of Indemnitor to make an Expense Advance pursuant to this Section 2(b) shall be subject to the condition that, if, when and to the extent that a final judicial determination is made (as to which all rights of appeal therefrom have been exhausted or lapsed) that Indemnitee is not entitled to be so indemnified under applicable law, Indemnitor shall be entitled to be reimbursed by Indemnitee (who hereby agrees to reimburse Indemnitor within ten business days of such request) for all such amounts theretofore paid (it being understood and agreed that the foregoing agreement by Indemnitee shall be deemed to satisfy any requirement that Indemnitee provide Indemnitor with an undertaking to repay any Expense Advance if it is ultimately determined that Indemnitee is not entitled to indemnification under applicable law).  Indemnitee’s undertaking to repay such Expense Advances shall be unsecured and interest-free.

 

(c)           Notwithstanding anything in this Agreement to the contrary, Indemnitee shall not be entitled to indemnification or advancement of Indemnifiable Expenses pursuant to this Agreement in connection with any Claim initiated by Indemnitee unless (i) Indemnitor has joined in or the Board of Directors of Indemnitor has authorized or consented to the initiation of such Claim or (ii) the Claim is one to enforce Indemnitee’s rights under this Agreement (including an action pursued by Indemnitee to secure a determination that Indemnitee should be indemnified under applicable law).

 

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(d)           Notwithstanding the foregoing, the indemnification obligations of Indemnitor under Section 2(a) shall be subject to the condition that the Reviewing Party shall not have determined (in a written opinion, in any case in which the Independent Legal Counsel referred to in Section 3 is involved) that the indemnification of Indemnitee would not be proper under the circumstances because Indemnitee is not entitled to be indemnified under applicable law.  If there has not been a Change in Control, the Reviewing Party shall be selected by the Board of Directors, and if there has been such a Change in Control (other than a Change in Control which has been approved by a majority of the 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.  If there is no determination by the Reviewing Party or if the Reviewing Party determines that Indemnitee is not entitled to be indemnified in whole or in part under applicable law, Indemnitee shall have the right to commence litigation in any court in the State of Texas having subject matter jurisdiction thereof and in which venue is proper, 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 Indemnitor hereby consents to service of process and to appear in any such proceeding.  If Indemnitee 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, Indemnitee shall continue to be entitled to receive Expense Advances, and Indemnitee shall not be required to reimburse Indemnitor for any Expense Advance until a final judicial determination is made (as to which all rights of appeal therefrom have been exhausted or lapsed) that Indemnitee is not entitled to be so indemnified under applicable law.  Any determination by the Reviewing Party otherwise shall be conclusive and binding on Indemnitor and Indemnitee.

 

(e)           To the extent that Indemnitee has been successful on the merits or otherwise in defense of any or all Claims relating in whole or in part to an Indemnifiable Event or in defense of any issue or matter therein, including dismissal without prejudice, Indemnitee shall be indemnified against all Indemnifiable Expenses actually incurred in connection therewith, notwithstanding an earlier determination by the Reviewing Party that Indemnitee is not entitled to indemnification under applicable law.

 

3.             Change in Control.  Indemnitor agrees that if there is a Change in Control of Indemnitor (other than a Change in Control which has been approved by a majority of the 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 indemnity payments and Expense Advances under this Agreement or any other agreement or the Organizational Documents now or hereafter in effect relating to Claims for Indemnifiable Events, Indemnitor shall seek legal advice only from Independent Legal Counsel selected by Indemnitee and approved by Indemnitor (which approval shall not be unreasonably withheld).  Such counsel, among other things, shall render its written opinion to Indemnitor and Indemnitee as to whether and to what extent the Indemnitee would be permitted to be indemnified under applicable law.  Indemnitor agrees to pay the reasonable fees of the 

 

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Independent Legal Counsel referred to above and to indemnify fully such counsel against any and all reasonable expenses (including reasonable counsel fees and disbursements), claims, liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto.

 

4.             Indemnification for Additional Expenses.  Indemnitor shall indemnify, or cause the indemnification of, Indemnitee against any and all Indemnifiable Expenses and, if requested by Indemnitee, shall advance such Indemnifiable Expenses to Indemnitee subject to and in accordance with Sections 2(b) and 2(d), which are incurred by Indemnitee in connection with any action brought by Indemnitee for (a) indemnification or an Expense Advance by Indemnitor under this Agreement or any provision of the Organizational Documents and/or (b) recovery under any directors’ and officers’ liability insurance policies maintained by Indemnitor, regardless of whether Indemnitee ultimately is determined to be entitled to such indemnification, Expense Advance or insurance recovery, as the case may be, but only to the extent allowable under applicable law.

 

5.             Partial Indemnity, Etc.  If Indemnitee is entitled under any provision of this Agreement to indemnification by Indemnitor for some or a portion of the Indemnifiable Expenses in respect of a Claim but not, however, for all of the total amount thereof, Indemnitor shall nevertheless indemnify Indemnitee for the portion thereof to which Indemnitee is entitled.

 

6.             Burden of Proof.  In connection with any determination by the Reviewing Party, any court or tribunal or otherwise as to whether Indemnitee is entitled to be indemnified hereunder, the Reviewing Party, court or tribunal or otherwise shall presume that Indemnitee has satisfied the applicable standard of conduct and is entitled to indemnification, and the burden of proof shall be on Indemnitor (or any other Person disputing such conclusions) to establish, by clear and convincing evidence, that Indemnitee is not so entitled.

 

7.             Reliance as Safe Harbor.  Indemnitee shall be entitled to indemnification for any action or omission to act undertaken (a) in good faith reliance upon the records of Indemnitor, including its financial statements, or upon information, opinions, reports or statements furnished to Indemnitee by the officers or employees of Indemnitor or any of its subsidiaries or affiliates in the course of their duties, or by committees of the Board of Directors, or by any other Person as to matters Indemnitee reasonably believes are within such other Person’s professional or expert competence, or (b) on behalf of Indemnitor in furtherance of the interests of Indemnitor in good faith in reliance upon, and in accordance with, the advice of legal counsel or accountants, provided such legal counsel or accountants were selected with reasonable care by or on behalf of Indemnitor.  In addition, the knowledge and/or actions, or failures to act, of any director, officer, agent or employee of Indemnitor shall not be imputed to Indemnitee for purposes of determining the right to indemnity hereunder.

 

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8.             No Other Presumptions.  For purposes of this Agreement, the termination of any claim, action, suit or proceeding, 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.

 

9.             Nonexclusivity, Etc.  The rights of Indemnitee hereunder shall be in addition to any other rights Indemnitee may have under the Organizational Documents, applicable law, or otherwise.  To the extent that a change in applicable law or the interpretation thereof (whether by statute or judicial decision) permits greater indemnification by agreement than would be afforded currently under the Organizational Documents, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change.

 

10.          Liability Insurance.  To the extent Indemnitor maintains an insurance policy or policies providing directors’ and officers’ liability insurance, Indemnitee shall be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the coverage available for Indemnitor directors.

 

11.          Period of Limitations.  No legal action shall be brought and no cause of action shall be asserted by or in the right of Indemnitor against Indemnitee, Indemnitee’s spouse, heirs, executors or personal or legal representatives after the expiration of two years from the date of accrual of such cause of action, and any claim or cause of action of Indemnitor shall be extinguished and deemed released unless asserted by the timely filing of a legal action within such two-year period; provided, however, that if any shorter period of limitations is otherwise applicable to any such cause of action such shorter period shall govern.

 

12.          Amendments, Etc.  No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by both of the parties hereto.  No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver.

 

13.          Subrogation.  In the event of payment under this Agreement, Indemnitor shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all papers reasonably required and shall do everything that may be reasonably necessary to secure such rights, including the 

 

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execution of such documents necessary to enable Indemnitor effectively to bring suit to enforce such rights.  Indemnitor shall pay or reimburse all expenses actually and reasonably incurred by Indemnitee in connection with such subrogation.

 

14.          Jointly Indemnifiable Claims.  Given that certain Jointly Indemnifiable Claims may arise due to the relationship between the Fund Entities and Indemnitor and the service of Indemnitee as a director of Indemnitor at the request of the Fund Entities, Indemnitor acknowledges and agrees that Indemnitor shall be fully and primarily responsible for the indemnification and advancement of expenses of Indemnitee in connection with any such Jointly Indemnifiable Claim, pursuant to and in accordance with the terms of this Agreement, irrespective of any right of recovery Indemnitee may have from the Fund Entities or any of their respective affiliates.  Under no circumstance shall Indemnitor be entitled to any right of contribution by the Fund Entities or any of their affiliates and no right of recovery Indemnitee may have from the Fund Entities or any of their respective affiliates shall reduce or otherwise alter the rights of Indemnitee or the obligations of Indemnitor hereunder.  In the event that either of the Fund Entities or any of their respective affiliates shall make any payment to Indemnitee in respect of indemnification or advancement with respect to any Jointly Indemnifiable Claim, Indemnitor agrees that such payment or advancement shall not extinguish or affect in any way the rights of the Indemnitee under this Agreement and further agrees that the Fund Entity or affiliate making such payment shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee against Indemnitor, who shall execute all papers reasonably required and shall do all things that may be reasonably necessary to secure such rights, including the execution of such documents as may be necessary to enable the Fund Entities effectively to bring suit to enforce such rights.  Each of the Fund Entities and its respective affiliates shall be third-party beneficiaries with respect to this Section 14, entitled to enforce this Section 14 against Indemnitor as though each such Fund Entity or affiliate were a party to this Agreement.

 

15.          No Duplication of Payments.  Subject to Section 14 hereof, Indemnitor shall not be liable under this Agreement to make any payment in connection with any Claim made against Indemnitee to the extent Indemnitee has otherwise actually received payment (under any insurance policy, any provision of the Organizational Documents, or otherwise) of the amounts otherwise indemnifiable hereunder.

 

16.          Defense of Claims.  Indemnitor shall be entitled to participate in the defense of any Claim relating to an Indemnifiable Event or to assume the defense thereof, with counsel reasonably satisfactory to Indemnitee; provided that if Indemnitee believes, after consultation with counsel selected by Indemnitee, that (a) the use of counsel chosen by Indemnitor to represent Indemnitee would present such counsel with an actual or potential conflict of interest, (b) the named parties in any such Claim (including any impleaded parties) include Indemnitor or any subsidiary of Indemnitor and Indemnitee and Indemnitee concludes that there may be one or more legal defenses available to him or her that are different from or in addition to those available to Indemnitor or any subsidiary of Indemnitor or (c) any such representation by such counsel would be precluded under the applicable standards of professional 

 

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conduct then prevailing, then Indemnitee shall be entitled to retain separate counsel (but not more than one law firm plus, if applicable, local counsel in respect of any particular Claim) at Indemnitor’s expense.  Indemnitor shall not be liable to Indemnitee under this Agreement for any amounts paid in settlement of any Claim relating to an Indemnifiable Event effected without Indemnitor’s prior written consent.  Indemnitor shall not, without the prior written consent of Indemnitee, effect any settlement of any Claim relating to an Indemnifiable Event which Indemnitee is or could have been a party unless such settlement solely involves the payment of money and includes a complete and unconditional release of Indemnitee from all liability on all claims that are the subject matter of such Claim.  Neither Indemnitor nor Indemnitee shall unreasonably withhold, condition or delay its or his or her consent to any proposed settlement; provided that Indemnitee may withhold consent to any settlement that does not provide a complete and unconditional release of Indemnitee.  In no event shall Indemnitee be required to waive, prejudice or limit attorney client privilege or work product protection or other applicable privilege or protection.

 

17.          Binding Effect, Etc.  This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and their respective successors, (including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the capital stock or business and/or assets of Indemnitor), assigns, spouses, heirs, executors and personal and legal representatives.  Indemnitor shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation, or otherwise) to all or substantially all of the capital stock or business and/or assets of Indemnitor, by written agreement in form and substance satisfactory to Indemnitee and his or her counsel, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that Indemnitor would be required to perform if no such succession had taken place.  This Agreement shall cover acts or omissions by Indemnitee while serving as a director of Indemnitor or while serving in any other capacity with another Person at the request of Indemnitor, regardless of when a Claim is brought.

 

18.          Security.  To the extent requested by Indemnitee and approved by the Board of Directors, Indemnitor may at any time and from time to time provide security to Indemnitee for the obligations of Indemnitor hereunder through an irrevocable bank line of credit, funded trust or other collateral or by other means.  Any such security, once provided to Indemnitee, may not be revoked or released without the prior written consent of such Indemnitee.

 

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

 

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20.          Specific Performance, Etc.  The parties recognize that if any provision of this Agreement is violated by the parties hereto, Indemnitee may be without an adequate remedy at law.  Accordingly, in the event of any such violation, Indemnitee shall be entitled, if Indemnitee so elects, to institute proceedings, either in law or at equity, to obtain damages, to enforce specific performance, to enjoin such violation, or to obtain any relief or any combination of the foregoing as Indemnitee may elect to pursue.

 

21.          Notices.   All notices, requests, consents and other communications hereunder to any party shall be deemed to be sufficient if contained in a written document delivered in person or sent by telecopy, nationally recognized overnight courier or personal delivery, addressed to such party at the address set forth below or such other address as may hereafter be designated on the signature pages of this Agreement or in writing by such party to the other parties:

 

(a)                                 If to Indemnitor, to:

 

Green Bancorp, Inc.

4000 Greenbriar

Houston, TX 77098
 Attn:  Manuel J. Mehos
 Telephone:  (713) 275-8201
 Fax:  (713) 275-8228

 

with a copy (which shall not constitute notice) to:

 

Bracewell & Giuliani LLP
 1445 Ross Avenue 
 Suite 3800
 Dallas TX 75202 
 Attn:  Sanford M. Brown
 Telephone:  (214) 758-1093 
 Fax:  (214) 758-8300

 

(b)                                 If to Indemnitee, to the address set forth on the signature page hereto.

 

All such notices, requests, consents and other communications shall be deemed to have been given or made if and when received (including by overnight courier) by the parties at the above addresses or sent by electronic transmission, with confirmation received, to the telecopy numbers specified above (or at such other address or telecopy number for a party as shall be specified by like notice).  Any notice delivered by any party hereto to any other party hereto shall also be delivered to each other party hereto simultaneously with delivery to the first party receiving such notice.

 

22.          Counterparts.  This Agreement may be executed in counterparts, each of which shall for all purposes be deemed to be an original but all of which together 

 

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shall constitute one and the same agreement.  Only one such counterpart signed by the party against whom enforceability is sought needs to be produced to evidence the existence of this Agreement.

 

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

 

24.          Governing Law.  This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Texas applicable to contracts made and to be performed in such state without giving effect to the principles of conflicts of laws.

 

25.          Effect of 12 U.S.C. 1828(k). The obligations of Indemnitor and the rights of Indemnitee under this Agreement shall be subject to 12 U.S.C. 1828(k) and the rules and regulations promulgated thereunder.

 

[Signature Page Immediately Follows]

 

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

 

	
 
    	
GREEN BANCORP,   INC.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:  
    
	
 
    	
 
    	
Title:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
[Indemnitee]
    
	
 
    	
 
    	
 
    
	
 
    	
Name and Business   Address.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Attn:
    	
 
    
	
 
    	
Tel:
    	
 
    
	
 
    	
Fax:
    	
 
    

 

[Signature Page to Indemnification Agreement]

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