Document:

exv10w7

Exhibit
10.7

PHOENIX TECHNOLOGIES LTD.

SEVERANCE AND CHANGE OF CONTROL AGREEMENT

     This Severance and Change of Control Agreement (the “Agreement”) is entered into by and
between David Deasy (“Executive”) and Phoenix Technologies Ltd. (the “Company”), effective as of
November 16, 2009 (the “Effective Date”).

RECITALS

     1. It is possible that the Company could terminate Executive’s employment with the Company.
The Board of Directors of the Company (the “Board”) recognizes that such consideration can be a
distraction to Executive and can cause Executive to consider alternative employment opportunities.
The Compensation Committee of the Board (pursuant to its delegated authority) has determined that
it is in the best interests of the Company and its stockholders to assure that the Company will
have the continued dedication and objectivity of Executive, notwithstanding the possibility, threat
or occurrence of such a termination.

     2. The Compensation Committee of the Board believes that it is in the best interests of the
Company and its stockholders to provide Executive with an incentive to continue his employment and
to motivate Executive to maximize the value of the Company for the benefit of its stockholders.

     3. The Compensation Committee of the Board believes that it is imperative to provide Executive
with certain severance benefits upon certain terminations of Executive’s employment with the
Company. These benefits will provide Executive with enhanced financial security and incentive and
encouragement to remain with the Company.

     4. Certain capitalized terms used in the Agreement are defined in Section 6 below.

AGREEMENT

     NOW, THEREFORE, in consideration of the mutual covenants contained herein, the parties hereto
agree as follows:

     1. Term of Agreement. This Agreement will have a term of four (4) years commencing on
the Effective Date and shall automatically renew for an additional four (4) year term unless the
Company provides written notice to Executive at least sixty (60) days prior to the end of the first
term of its intention not to renew this Agreement. Notwithstanding the previous sentence, in the
event of a Change of Control within four (4) or, if applicable, eight (8) years of the Effective
Date, the term of this Agreement will extend through the one-year anniversary of such Change of
Control.

     2. At-Will Employment. The Company and Executive acknowledge that Executive’s
employment is and will continue to be at-will, as defined under applicable law. If Executive’s
employment terminates for any reason, Executive will not be entitled to any payments, benefits,
damages, awards or compensation other than as provided by this Agreement.

					
	 	 	 	 	 
	 
	 	 
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     3. Severance Benefits.

          (a) Involuntary Termination other than for Cause, Disability or Death. If the Company
(or any parent or subsidiary of the Company employing Executive) terminates Executive’s employment
with the Company (or any parent or subsidiary of the Company) for a reason other than Cause,
Executive’s Disability or Executive’s death, then, in addition to Executive’s accrued vacation,
expense reimbursements and any other benefits due to Executive through the date of termination of
employment in accordance with the Company’s then existing employee benefit plans, policies and
arrangements, and subject to Section 4, Executive will receive the following severance benefits
from the Company:

               (i) Severance Payments. Executive will be paid continuing payments of severance pay
for six (6) months from the date of such termination at a monthly rate equal to Executive’s monthly
base salary rate, as then in effect, unless the termination is for Good Reason following the
reduction of Executive’s base salary, in which case the severance amount will be based upon
Executive’s base salary rate as in effect prior to such reduction. Such payments shall be paid
periodically in accordance with the Company’s normal payroll policies. The period during which the
Company pays the Executive severance shall be referred to as the “Severance Period.”

               (ii) Continued Health Insurance Benefits. Executive will receive continuation of the
health, dental and vision insurance benefits provided to Executive and Executive’s eligible
dependents under the Company’s Benefit Plans at Company expense during the Severance Period.

               (iii) Option Exercisability. The vested portion of any stock options or other
outstanding rights to purchase or receive shares of the Company’s common stock (including, without
limitation, stock appreciation rights, restricted stock units or similar awards) held by Executive
as of the termination date will remain exercisable until the earlier of (A) the expiration of the
original term of the applicable option or right (notwithstanding any provisions in the equity
agreement providing for earlier expiration of vested rights upon termination of employment) or (B)
the date twelve (12) months from the termination date.

               (iv) Payments or Benefits Required by Law. Executive will receive such other
compensation or benefits from the Company as may be required by law.

          (b) Certain Terminations in Connection with a Change of Control. If Executive
terminates his employment with the Company (or any parent or subsidiary of the Company) for Good
Reason or the Company (or any parent or subsidiary of the Company employing Executive) terminates
Executive’s employment with the Company (or any parent or subsidiary of the Company) for a reason
other than Cause, Executive’s Disability or Executive’s death within two (2) months prior to or
twelve (12) months following a Change of Control, then (i) Executive shall receive the severance
and other benefits set forth in Section 3(a)(i)-(iv), and (ii) 50% of the unvested shares subject
to all of Executive’s outstanding rights to purchase or receive shares of the Company’s common
stock (including, without limitation, through awards of stock options, stock appreciation rights,
restricted stock units or similar awards) whether acquired by Executive before or after the date of
this Agreement and 50% of any of Executive’s shares of Company common stock subject to a Company
right of repurchase or forfeiture upon Executive’s termination

					
	 	 	 	 	 
	 
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of employment for any reason (whether acquired by Executive before or after the date of this
Agreement), will immediately vest and, if applicable, become exercisable upon such termination
pursuant to the provisions of Section 3(a)(iii) above. In all other respects, such awards will
continue to be subject to the terms and conditions of the plans, if any, under which they were
granted and any applicable agreements between the Company and Executive.

          (c) Other Terminations. If Executive voluntarily terminates Executive’s employment
with the Company or any parent or subsidiary of the Company (other than for Good Reason within two
(2) months prior to or twelve (12) months following a Change of Control) or if the Company (or any
parent or subsidiary of the Company employing Executive) terminates Executive’s employment with the
Company (or any parent or subsidiary of the Company) due to Executive’s death, Disability or for
Cause, then Executive will (i) receive his earned but unpaid base salary through the date of
termination of employment, (ii) receive all accrued vacation, expense reimbursements and any other
benefits due to Executive through the date of termination of employment in accordance with
established Company plans, policies and arrangements, and (iii) not be entitled to any other
compensation or benefits (including, by way of example but not limitation, accelerated vesting of
any equity awards) from the Company except to the extent provided under agreement(s) relating to
any equity awards or as may be required by law (for example, COBRA coverage under Section 4980B of
the Internal Revenue Code of 1986, as amended (the “Code”)); provided, that (1) Executive shall be
able to exercise any options and retain any restricted stock awards that are vested as of the date
of termination of Executive’s employment and (2) notwithstanding any other provision in this
Agreement to the contrary, if Executive’s employment with the Company (or any parent or subsidiary
of the Company employing Executive) is terminated as a result of Executive’s Disability or
Executive’s death, then Executive shall also receive continuation of the health, dental and vision
insurance benefits provided to Executive and Executive’s eligible dependents under the Company’s
Benefit Plans at Company expense for a period of six (6) months following Executive’s termination
date.

          (d) Exclusive Remedy. In the event of a termination of Executive’s employment with
the Company (or any parent or subsidiary of the Company), and whether separate or in connection
with a Change of Control, the provisions of this Section 3 are intended to be and are exclusive and
in lieu of any other rights or remedies to which Executive may otherwise be entitled, whether at
law, tort or contract, in equity, or under this Agreement. Executive will be entitled to no
benefits, compensation or other payments or rights upon termination of employment other than those
benefits expressly set forth in this Section 3.

     4. Conditions to Receipt of Severance.

     Separation Agreement and Release of Claims. The receipt of any severance pursuant to Section
3 will be subject to Executive signing and not revoking a separation agreement and release of
claims as attached hereto as Exhibit A on or before the sixtieth (60th) day following Executive’s
separation date. Subject to the foregoing, and any delay required under Section 4(c) below, on
the sixtieth (60th) day following Executive’s separation date the Company shall commence payment of
Executive’s severance benefits in accordance with the terms of Section 3 (the “Severance Payment
Date”).

					
	 	 	 	 	 
	 
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          (a) Nonsolicitation. The receipt of any severance benefits pursuant to Section 3 will
be subject to Executive not violating the provisions of Section 7. In the event Executive breaches
the provisions of Section 7, all continuing payments and benefits to which Executive would have
been entitled pursuant to Section 3 will immediately cease.

          (b) Section 409A. Notwithstanding any provision of this Agreement to the contrary,
if, at the time of Executive’s termination of employment with the Company, Executive is a
“specified employee” as defined in Code Section 409A, then any cash severance to be paid pursuant
to Section 3 will not be paid during the six-month period following Executive’s termination of
employment, unless the Company reasonably determines that paying all or a portion of such amounts
immediately following Executive’s termination of employment would not result in the imposition of
additional tax under Code Section 409A, in which case that portion of such amounts which may be
paid without imposition of additional tax under Code Section 409A shall be paid on the Severance
Payment Date. To the extent that payment of any cash severance to Executive upon termination of
his employment is postponed as a result of the previous sentence, such payments will accrue
(without interest) and will become payable to Executive in a lump-sum amount on the earlier to
occur of (i) the first business day following such six-month period and (ii) Executive’s death.
For these purposes, each installment of the payments and benefits provided for in this Agreement is
a separate “payment” for purposes of Treasury Regulation Section 1.409A-2(b)(2)(i).

     5. Limitation on Payments.

          (a) In the event that the severance and other benefits provided for in this Agreement or
otherwise payable to Executive (ix) constitute “parachute payments” within the meaning of Section
280G of the Code and (iiy) but for this Section 5, would be subject to the excise tax imposed by
Section 4999 of the Code, then Executive’s severance benefits under this Agreement shall be payable
either:

               (i) in full, or

               (ii) as to such lesser amount which would result in no portion of such severance benefits
being subject to excise tax under Section 4999 of the Code, whichever of the foregoing amounts,
taking into account the applicable federal, state and local income taxes and the excise tax imposed
by Section 4999, results in the receipt by Executive on an after-tax basis, of the greatest amount
of severance benefits under this Agreement, notwithstanding that all or some portion of such
severance benefits may be taxable under Section 4999 of the Code. Any determination required under
this Section 5 shall be made in writing by the Company’s independent public accountants (the
“Accountants”), whose determination shall be conclusive and binding upon the Executive and the
Company for all purposes. For purposes of making the calculations required by this Section 5, the
Accountants may make reasonable assumptions and approximations concerning applicable taxes and may
rely on reasonable, good faith interpretations concerning the application of Sections 280G and 4999
of the Code. The Company and Executive shall furnish to the Accountants such information and
documents as the Accountants may reasonably request in order to make a determination under this
Section 5. The Company shall bear all costs the Accountants may reasonably incur in connection
with any calculations contemplated by this Section 5. Any necessary reductions shall be
implemented by reduction of payments to Executive in the following order: (1) reduction of cash
payments; (2) cancellation of accelerated vesting of equity awards other than

					
	 	 	 	 	 
	 
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stock options; (3) cancellation of accelerated vesting of stock options; and (4) reduction of other
benefits paid to Executive. In the event that acceleration of vesting of equity award compensation
is to be reduced, such acceleration of vesting will be cancelled in the reverse order of the date
of grant of Executive’s equity awards.]

     6. Definition of Terms. The following terms referred to in this Agreement will have
the following meanings:

          (a) Benefit Plans. “Benefit Plans” means plans, policies or arrangements that the
Company sponsors (or participates in) and that immediately prior to Executive’s termination of
employment provide Executive and/or Executive’s eligible dependents with medical, dental, and/or
vision benefits. Benefit Plans do not include any other type of benefit (including, but not by way
of limitation, disability, life insurance or retirement benefits). A requirement that the Company
provide Executive and Executive’s eligible dependents with coverage under the Benefit Plans will
not be satisfied unless the coverage is no less favorable than that provided to Executive and
Executive’s eligible dependents immediately prior to Executive’s termination of employment.
Notwithstanding any contrary provision of this Section 6(a), but subject to the immediately
preceding sentence, the Company may, at its option, satisfy any requirement that the Company
provide coverage under any Benefit Plan by (i) reimbursing Executive’s premiums under COBRA after
Executive has properly elected continuation coverage under COBRA (in which case Executive will be
solely responsible for electing such coverage for Executive and Executive’s eligible dependents),
or (ii) providing Executive and Executive’s eligible dependents with equivalent coverage that is
no less favorable under (or reimbursing Executive’s actual premiums pursuant to) a third party
plan.

          (b) Cause. “Cause” means a failure by Executive to substantially perform Executive’s
duties as an employee, other than a failure resulting from the Executive’s complete or partial
incapacity due to physical or mental illness or impairment, (ii) a willful act by Executive that
constitutes misconduct, (iii) circumstances where Executive intentionally or negligently imparts
material confidential information relating to the Company or its business to competitors or to
other third parties other than in the course of carrying out Executive’s duties, (iv) a material
violation by Executive of a federal or state law or regulation applicable to the business of the
Company, (v) a willful violation of a material Company employment policy or the Company’s insider
trading policy, (vi) any act or omission by Executive constituting dishonesty (other than a good
faith expense account dispute) or fraud, with respect to the Company or any of its affiliates,
which is injurious to the financial condition of the Company or any of its affiliates or is
injurious to the business reputation of the Company or any of its affiliates, (vii) Executive’s
failure to cooperate with the Company in connection with any actions, suits, claims, disputes or
grievances against the Company or any of its officers, directors, employees, stockholders,
affiliates, divisions, subsidiaries, predecessor and successor corporations, and assigns, whether
or not such cooperation would be adverse to Executive’s own interest, or (viii) Executive’s
conviction or plea of guilty or no contest to a felony.

          (c) Change of Control. “Change of Control” means the occurrence of any of the
following:

					
	 	 	 	 	 
	 
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               (i) the sale, lease, conveyance or other disposition of all or substantially all of the
Company’s assets to any “person” (as such term is used in Section 13(d) of the Securities Exchange
Act of 1934, as amended), entity or group of persons acting in concert;

               (ii) any person or group of persons becoming the “beneficial owner” (as defined in Rule 13d-3
under said Act), directly or indirectly, of securities of the Company representing 50% or more of
the total voting power represented by the Company’s then outstanding voting securities;

               (iii) a merger or consolidation of the Company with any other corporation, other than a merger
or consolidation that 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 or its controlling entity) more than 50% of the total
voting power represented by the voting securities of the Company or such surviving entity (or its
controlling entity) outstanding immediately after such merger or consolidation; or

               (iv) a contest for the election or removal of members of the Board that results in the
replacement during any 12-month period of at least 50% of the incumbent members of the Board, whose
appointment is not endorsed by the majority of the incumbent members of the Board prior to such
contest. .

          (d) Confidential Information. “Confidential Information” means any proprietary
information, technical data, trade secrets or know-how of the Company or any of its affiliates,
including, but not limited to, research, product plans, source code, products, services, suppliers,
customer lists and customers. Confidential Information does not include any of the foregoing items
which has become publicly and widely known and made generally available through no wrongful act of
Executive or of others who were under confidentiality obligations as to the item or items involved.

          (e) Disability. “Disability” means that Executive has been unable to perform the
principal functions of his duties due to a physical or mental impairment, but only if such
inability has lasted or is reasonably expected to last for at least six (6) months. Whether
Executive has a Disability will be determined by the Board based on evidence provided by one or
more physicians selected or approved by the Board.

          (f) Good Reason. “Good Reason” means that, without Executive’s express written
consent, any one of the following events occurs: (i) a material reduction in Executive’s title,
authority, status, or responsibilities, unless the Executive is provided with a comparable position
(i.e., a position of equal or greater organizational level, duties, authority, compensation and
status); provided, however, that a reduction in duties, position or responsibilities solely by
virtue of the Company being acquired and made part of a larger entity shall not constitute “Good
Reason”; (ii) the reduction of Executive’s aggregate base salary or target bonus opportunity as in
effect immediately prior to such reduction (other than a reduction applicable to executives
generally); or (iii) a relocation of Executive’s principal place of employment by more than fifty
(50) miles; provided, however (x) Executive provides written notice to the Company within the
thirty (30) day period immediately following such event; (y) such event is not remedied by the
Company within thirty (30)

					
	 	 	 	 	 
	 
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days following the Company’s receipt of such written notice; and (z) Executive’s resignation
is effective not later than thirty (30) days after the expiration of such thirty (30) day cure
period.

     7. Restrictive Covenant.

          (a) Nonsolicit. For a period beginning on the Effective Date and ending twelve (12)
months after Executive ceases to be employed by the Company (or any parent or subsidiary of the
Company), Executive, directly or indirectly, whether as employee, owner, sole proprietor, partner,
director, member, consultant, agent, founder, co-venturer or otherwise, will not: (i) solicit,
induce or influence any person to leave employment with the Company (or any parent or subsidiary of
the Company); or (ii) use any Confidential Information of the Company (or any parent or subsidiary
of the Company) to attempt to negatively influence any of the clients or customers of the Company
(or any parent or subsidiary of the Company) from purchasing Company products or services or to
solicit or influence or attempt to influence any client, customer or other person either directly
or indirectly, to direct his or its purchase of products and/or services to any person, firm,
corporation, institution or other entity in competition with the business of the Company (including
any parent or subsidiary of the Company).

          (b) Understanding of Covenant. Executive represents that he (i) is familiar with the
foregoing covenant not to solicit, and (ii) is fully aware of his obligations hereunder, including,
without limitation, the reasonableness of the length of time, scope and geographic coverage of this
covenant.

     8. Litigation. Executive agrees to cooperate with the Company beginning on the
Effective Date and thereafter (including following Executive’s termination of employment for any
reason), by making himself reasonably available to testify on behalf of the Company or any of its
affiliates in any action, suit, or proceeding, whether civil, criminal, administrative, or
investigative, and to assist the Company, or any affiliate, in any such action, suit, or
proceeding, by providing information and meeting and consulting with the Board or its
representatives or counsel, or representatives or counsel to the Company, or any affiliate as
reasonably requested. The Company agrees to reimburse Executive for all expenses actually incurred
in connection with his provision of testimony or assistance.

     9. Successors.

          (a) The Company’s Successors. Any successor to the Company (whether direct or
indirect and whether by purchase, merger, consolidation, liquidation or otherwise) to all or
substantially all of the Company’s business and/or assets will assume the obligations under this
Agreement and agree expressly to perform the obligations under this Agreement in the same manner
and to the same extent as the Company would be required to perform such obligations in the absence
of a succession. For all purposes under this Agreement, the term “Company” will include any
successor to the Company’s business and/or assets which executes and delivers the assumption
agreement described in this Section 9(a) or which becomes bound by the terms of this Agreement by
operation of law.

					
	 	 	 	 	 
	 
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          (b) The Executive’s Successors. The terms of this Agreement and all rights of
Executive hereunder will inure to the benefit of, and be enforceable by, Executive’s personal or
legal representatives, executors, administrators, successors, heirs, distributees, devisees and
legatees.

     10. Notice.

          (a) General. Notices and all other communications contemplated by this Agreement will
be in writing and will be deemed to have been duly given when personally delivered or when mailed
by U.S. registered or certified mail, return receipt requested and postage prepaid. In the case of
Executive, mailed notices will be addressed to him at the home address which he most recently
communicated to the Company in writing. In the case of the Company, mailed notices will be
addressed to its corporate headquarters, and all notices will be directed to the attention of its
General Counsel.

          (b) Notice of Termination. Any termination by the Company for Cause or by Executive
for Good Reason or as a result of a voluntary resignation will be communicated by a notice of
termination to the other party hereto given in accordance with Section 10(a) of this Agreement.
Such notice will indicate the specific termination provision in this Agreement relied upon, will
set forth in reasonable detail the facts and circumstances claimed to provide a basis for
termination under the provision so indicated, and, in the case of termination by the Company for
Cause or as a result of a voluntary resignation by Executive, will specify the termination date
(which will be not more than thirty (30) days after the giving of such notice).

     11. Miscellaneous Provisions.

          (a) No Duty to Mitigate. Executive will not be required to mitigate the amount of any
payment contemplated by this Agreement, nor will any such payment be reduced by any earnings that
Executive may receive from any other source.

          (b) Relinquishment of Titles and Positions. Upon the Executive agrees to promptly
relinquish all titles and positions then held by Executive with the Company and any subsidiary or
affiliate of the Company following any termination of Executive’s employment with the Company (or
any parent or subsidiary of the Company).

          (c) Waiver. No provision of this Agreement will be modified, waived or discharged
unless the modification, waiver or discharge is agreed to in writing and signed by Executive and by
an authorized officer of the Company (other than Executive). No waiver by either party of any
breach of, or of compliance with, any condition or provision of this Agreement by the other party
will be considered a waiver of any other condition or provision or of the same condition or
provision at another time.

          (d) Headings. All captions and section headings used in this Agreement are for
convenient reference only and do not form a part of this Agreement.

          (e) Entire Agreement. This Agreement, together with any indemnification agreement
between the Company and Executive and the terms of Executive’s equity award agreements (as modified
by this Agreement), constitutes the entire agreement of the parties hereto

					
	 	 	 	 	 
	 
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and supersedes in their entirety all prior representations, understandings, undertakings or
agreements (whether oral or written and whether expressed or implied) of the parties with respect
to the subject matter hereof, including without limitation, any formal offer letter or employment
agreement by and between the Company and Executive. No future agreements between the Company and
Executive may supersede this Agreement, unless they are in writing and specifically mention this
Agreement.

          (f) Choice of Law. The laws of the State of California (without reference to its
choice of laws provisions) will govern the validity, interpretation, construction and performance
of this Agreement.

          (g) Severability. The invalidity or unenforceability of any provision or provisions
of this Agreement will not affect the validity or enforceability of any other provision hereof,
which will remain in full force and effect.

          (h) Income and Employment Taxes. Executive agrees that Executive shall be responsible
for any employee-side (but not employer-side) applicable taxes of any nature (including any
penalties or interest that may apply to such taxes) that the Company reasonably determines apply to
any payment made hereunder, that Executive’s receipt of any benefit hereunder is conditioned on
Executive’s satisfaction of any applicable withholding or similar obligations that apply to such
benefit, and that any cash payment owed hereunder will be reduced to satisfy any such withholding
or similar obligations that may apply.

          (i) Counterparts. This Agreement may be executed in counterparts, each of which will
be deemed an original, but all of which together will constitute one and the same instrument.

[Remainder of Page Intentionally Left Blank]

					
	 	 	 	 	 
	 
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     IN WITNESS WHEREOF, each of the parties has executed this amended and restated Agreement, in
the case of the Company by its duly authorized officer, as of the day and year set forth above.

	 	 	 	 	 
	COMPANY 	PHOENIX TECHNOLOGIES LTD.

 	 
	 	By:  	/s/ Timothy C. Chu
 	 
	 	 	Name:  	Timothy C. Chu 	 
	 	 	Title:  	Vice President, General Counsel and Secretary 	 
	 
	EXECUTIVE 	DAVID DEASY

 	 
	 	By:  	/s/ David Deasy
 	 
	 	 	Title:             Senior VP, Direct Sales and Marketing 	 

					
	 	 	 	 	 
	 	 	 	 	 
	 
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Exhibit a

Release Agreement

     I understand that my position with Phoenix Technologies, Ltd. (the “Company”)
terminated effective                     , 20___ (the “Separation Date”). The Company has agreed that if I
choose to sign this Release, the Company will extend to me certain benefits (minus the standard
withholdings and deductions, if applicable) pursuant to the terms of the Severance and Change of
Control Agreement (the “Agreement”) entered into as of September ___, 2006, between me and the
Company, as amended and restated on                     , 2009, and any agreements incorporated therein by
reference. I understand that I am not entitled to such severance benefits unless I sign this
Release. I understand that, regardless of whether I sign this Release, the Company will pay me all
of my accrued salary and vacation through the Separation Date and any unreimbursed business
expenses, to which I am entitled by law.

     In consideration for the severance benefits I am receiving under the Agreement, I hereby
release the Company and its officers, directors, agents, attorneys, employees, shareholders,
parents, subsidiaries, and affiliates from any and all claims, liabilities, demands, causes of
action, attorneys’ fees, damages, or obligations of every kind and nature, whether they are now
known or unknown, arising at any time prior to the date I sign this Release. This general release
includes, but is not limited to: all federal and state statutory and common law claims, claims
related to my employment or the termination of my employment or related to breach of contract,
tort, wrongful termination, discrimination, wages or benefits, or claims for any form of equity or
compensation. Notwithstanding the release in the preceding sentence, I am not releasing any right
of indemnification or any right to payments under any Company insurance policy I may have for any
liabilities arising from my actions within the course and scope of my employment with the Company
or within the course and scope of my role as a member of the Board of Directors and/or officer of
the Company, nor am I releasing my right to receive any severance benefits pursuant to the
Agreement.

     I UNDERSTAND THAT THIS AGREEMENT INCLUDES A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS. In
giving this release, which includes claims which may be unknown to me at present, I hereby waive
the benefit of any provision of California law, and of any other jurisdiction, which is similar to
the following: “A general release does not extend to claims which the creditor does not know or
suspect to exist in his favor at the time of executing the release, which if known by him must have
materially affected his settlement with the debtor.”

     I acknowledge that I am knowingly and voluntarily waiving and releasing any rights I may have
under the federal Age Discrimination in Employment Act of 1967, as amended (“ADEA”). I also
acknowledge that the consideration given for the waiver in the above paragraph is in addition to
anything of value to which I was already entitled. I have been advised by this writing, as
required by the ADEA that: (a) my waiver and release do not apply to any claims that may arise
after my signing of this Release; (b) I should consult with an attorney prior to executing this
Release; (c) I have twenty-one (21) days within which to consider this Release (although I may
choose to voluntarily execute this Release earlier); (d) I have seven (7) days following the
execution of this release to revoke the Release; and (e) this Release will not be effective until
the eighth day after this Release has been signed by me.

					
	 	 	 	 	 
	 
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     I UNDERSTAND THAT THIS AGREEMENT INCLUDES A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS.

	 	 	 	 	 
	 	 	 
	 	By:  	      	 
	 	 	 	 
	 	 	 	 
	 	Date: 	 	 

					
	 	 	 	 	 
	 	 	 	 	 
	 
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Exhibit 10.20

FORM OF INDEMNIFICATION AGREEMENT

     This Agreement is made as of the                      day of                      2009, by and between Accretive
Health, Inc., a Delaware corporation (the “Corporation”), and                      (the “Indemnitee”), a
director or officer of the Corporation[, and a                      of                      (the “Fund”)].

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

     WHEREAS, the increase in corporate litigation subjects directors and officers to expensive
litigation risks, and

     WHEREAS, it is now and has always been the express policy of the Corporation to indemnify its
directors and officers, and

     [WHEREAS, Indemnitee is affiliated with the Fund and has certain rights to indemnification
and/or insurance provided by the Fund and/or the Fund’s affiliates which Indemnitee and the Fund
intend to be secondary to the primary obligation of the Corporation to indemnify Indemnitee as
provided herein, with the Corporation’s acknowledgment and agreement to the foregoing being a
material condition to Indemnitee’s willingness to serve on the Board.]

     WHEREAS, the Corporation desires the Indemnitee to serve, or continue to serve, as a director
or officer of the Corporation.

     NOW THEREFORE, the Corporation and the Indemnitee do hereby agree as follows:

     1. Agreement to Serve. The Indemnitee agrees to serve or continue to serve as a
director or officer of the Corporation for so long as the Indemnitee is duly elected or appointed
or until such time as the Indemnitee tenders a resignation in writing.

     2. Definitions. As used in this Agreement:

          (a) The term “Proceeding” shall include any threatened, pending or completed action, suit,
arbitration, alternative dispute resolution proceeding, administrative hearing or other proceeding,
whether brought by or in the right of the Corporation or otherwise and whether of a civil,
criminal, administrative or investigative nature, and any appeal therefrom.

          (b) The term “Corporate Status” shall mean the status of a person who is or was, or has agreed
to become, a director or officer of the Corporation, or is or was serving, or has agreed to serve,
at the request of the Corporation, as a director, officer, fiduciary, partner, trustee, member,
employee or agent of, or in a similar capacity with, another corporation, partnership, joint
venture, trust, limited liability company or other enterprise.

          (c) The term “Expenses” shall include, without limitation, attorneys’ fees, retainers, court
costs, transcript costs, fees and expenses of experts, travel expenses, duplicating

 

 

costs, printing and binding costs, telephone charges, postage, delivery service fees and other
disbursements or expenses of the types customarily incurred in connection with investigations,
judicial or administrative proceedings or appeals, but shall not include the amount of judgments,
fines or penalties against Indemnitee or amounts paid in settlement in connection with such
matters.

          (d) References to “other enterprise” shall include employee benefit plans; references to
“fines” shall include any excise tax assessed with respect to any employee benefit plan; references
to “serving at the request of the Corporation” shall include any service as a director, officer,
employee or agent of the Corporation which imposes duties on, or involves services by, such
director, officer, employee, or agent with respect to an employee benefit plan, its participants,
or beneficiaries; and a person who acted in good faith and in a manner such person reasonably
believed to be in the interests of the participants and beneficiaries of an employee benefit plan
shall be deemed to have acted in a manner “not opposed to the best interests of the Corporation” as
referred to in this Agreement.

     3. Indemnity of Indemnitee. Subject to Sections 6, 8 and 10, the Corporation shall
indemnify the Indemnitee in connection with any Proceeding as to which the Indemnitee is, was or is
threatened to be made a party (or is otherwise involved) by reason of the Indemnitee’s Corporate
Status, to the fullest extent permitted by law (as such may be amended from time to time). In
furtherance of the foregoing and without limiting the generality thereof:

          (a) Indemnification in Third-Party Proceedings. The Corporation shall indemnify the
Indemnitee in accordance with the provisions of this Section 3(a) if the Indemnitee was or is a
party to or threatened to be made a party to or otherwise involved in any Proceeding (other than a
Proceeding by or in the right of the Corporation to procure a judgment in its favor or a Proceeding
referred to in Section 6 below) by reason of the Indemnitee’s Corporate Status or by reason of any
action alleged to have been taken or omitted in connection therewith, against all Expenses,
judgments, fines, penalties and amounts paid in settlement actually and reasonably incurred by or
on behalf of the Indemnitee in connection with such Proceeding, if the Indemnitee acted in good
faith and in a manner which the Indemnitee reasonably believed to be in, or not opposed to, the
best interests of the Corporation (which may be negligent acts) and, with respect to any criminal
Proceeding, had no reasonable cause to believe that his or her conduct was unlawful.

          (b) Indemnification in Proceedings by or in the Right of the Corporation. The
Corporation shall indemnify the Indemnitee in accordance with the provisions of this Section 3(b)
if the Indemnitee was or is a party to or threatened to be made a party to or otherwise involved in
any Proceeding by or in the right of the Corporation to procure a judgment in its favor by reason
of the Indemnitee’s Corporate Status or by reason of any action alleged to have been taken or
omitted in connection therewith, against all Expenses and, to the extent permitted by law, amounts
paid in settlement actually and reasonably incurred by or on behalf of the Indemnitee in connection
with such Proceeding, if the Indemnitee acted in good faith and in a manner which the Indemnitee
reasonably believed to be in, or not opposed to, the best interests of the Corporation, except
that, if applicable law so provides, no indemnification shall be made under this Section 3(b) in
respect of any claim, issue, or matter as to which the Indemnitee shall have been adjudged to be
liable to the Corporation, unless, and only to the extent, that the Court

2

 

of Chancery of Delaware or the court in which such action or suit was brought shall determine
upon application that, despite the adjudication of such liability but in view of all the
circumstances of the case, the Indemnitee is fairly and reasonably entitled to indemnity for such
Expenses as the Court of Chancery or such other court shall deem proper.

     4. Indemnification of Expenses of Successful Party. Notwithstanding any other
provision of this Agreement, to the extent that the Indemnitee has been successful, on the merits
or otherwise, in defense of any Proceeding or in defense of any claim, issue or matter therein
(other than a Proceeding referred to in Section 6), the Indemnitee shall be indemnified against all
Expenses actually and reasonably incurred by or on behalf of the Indemnitee in connection
therewith. Without limiting the foregoing, if any Proceeding or any claim, issue or matter therein
is disposed of, on the merits or otherwise (including a disposition without prejudice), without (i)
the disposition being adverse to the Indemnitee, (ii) an adjudication that the Indemnitee was
liable to the Corporation, (iii) a plea of guilty or nolo contendere by the Indemnitee, (iv) an
adjudication that the Indemnitee did not act in good faith and in a manner the Indemnitee
reasonably believed to be in or not opposed to the best interests of the Corporation, and (v) with
respect to any criminal proceeding, an adjudication that the Indemnitee had reasonable cause to
believe his or her conduct was unlawful, the Indemnitee shall be considered for the purposes hereof
to have been wholly successful with respect thereto.

     5. Indemnification for Expenses of a Witness. To the extent that the Indemnitee is,
by reason of the Indemnitee’s Corporate Status, a witness in any Proceeding to which the Indemnitee
is not a party, the Indemnitee shall be indemnified against all Expenses actually and reasonably
incurred by or on behalf of the Indemnitee in connection therewith.

     6. Exceptions to Right of Indemnification. Notwithstanding anything to the contrary
in this Agreement, except as set forth in Section 11, the Corporation shall not indemnify the
Indemnitee in connection with a Proceeding (or part thereof) initiated by the Indemnitee unless the
initiation thereof was approved by the Board of Directors of the Corporation. Notwithstanding
anything to the contrary in this Agreement, the Corporation shall not indemnify the Indemnitee to
the extent the Indemnitee is reimbursed from the proceeds of insurance, and in the event the
Corporation makes any indemnification payments to the Indemnitee and the Indemnitee is subsequently
reimbursed from the proceeds of insurance, the Indemnitee shall promptly refund such
indemnification payments to the Corporation to the extent of such insurance reimbursement.

     7. Contribution in the Event of Joint Liability. If the indemnification provided for
in this Agreement for any reason other than the statutory limitations of applicable law or as
provided for in this Agreement, is held by a court of competent jurisdiction to be unavailable to
an Indemnitee in respect of any losses, claims, damages, expenses or liabilities in which the
Corporation is jointly liable with such Indemnitee, as the case may be (or would be jointly liable
if joined), then the Corporation, in lieu of indemnifying the Indemnitee thereunder, shall
contribute to the amount actually and reasonably incurred and paid or payable by the Indemnitee as
a result of such losses, claims, damages, expenses or liabilities in such proportion as is
appropriate to reflect (a) the relative benefits received by the Corporation and the Indemnitee,
and (b) the relative fault of the Corporation and such Indemnitee in connection with the action or
inaction that resulted in such losses, claims, damages, expenses or liabilities, as well as any
other

3

 

relevant equitable considerations. The relative fault of the Corporation and the Indemnitee
shall be determined by reference to, among other things, (i) whether an untrue or alleged untrue
statement of a material fact or an omission or alleged omission to state a material fact relates to
information supplied by the Corporation or the Indemnitee, (ii) the parties’ relative intent,
knowledge, access to information and opportunity to correct or prevent the circumstances resulting
in such losses, claims, damages, expenses or liabilities, (iii) the degree to which the parties’
actions were motivated by intent to gain personal profit or advantage, (iv) the degree to which the
parties’ liability is primary or secondary, and (v) the degree to which the parties’ conduct is
active or passive. The Corporation and the Indemnitee agree that it would not be just and equitable
if contribution pursuant to this Section 7 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 this paragraph. No person found guilty of fraudulent misrepresentation (within the
meaning of Section 11(f) of the Securities Act of 1933, as amended) shall be entitled to
contribution from any person who was not found guilty of such fraudulent misrepresentation.

     8. Notification and Defense of Claim. As a condition precedent to the Indemnitee’s
right to be indemnified, the Indemnitee must notify the Corporation in writing as soon as
practicable of any Proceeding for which indemnity will or could be sought; provided that
failure or delay to provide such notice shall not limit the Indemnitee’s right to indemnification
hereunder except to the extent the Corporation is prejudiced by such failure or delay. With
respect to any Proceeding of which the Corporation is so notified, the Corporation will be entitled
to participate therein at its own expense and/or to assume the defense thereof at its own expense,
with legal counsel reasonably acceptable to the Indemnitee. After notice from the Corporation to
the Indemnitee of its election so to assume such defense, the Corporation shall not be liable to
the Indemnitee for any legal or other expenses subsequently incurred by the Indemnitee in
connection with such Proceeding, other than as provided below in this Section 8. The Indemnitee
shall have the right to employ his or her own counsel in connection with such Proceeding, but the
fees and expenses of such counsel incurred after notice from the Corporation of its assumption of
the defense thereof shall be at the expense of the Indemnitee unless (i) the employment of counsel
by the Indemnitee has been authorized by the Corporation, (ii) counsel to the Indemnitee shall have
reasonably concluded that there may be a conflict of interest or position on any significant issue
between the Corporation and the Indemnitee in the conduct of the defense of such Proceeding or
(iii) the Corporation shall not in fact have employed counsel to assume the defense of such
Proceeding, in each of which cases the fees and expenses of counsel for the Indemnitee shall be at
the expense of the Corporation, except as otherwise expressly provided by this Agreement, and
provided that Indemnitee’s counsel shall cooperate reasonably with the Corporation’s
counsel to minimize the cost of defending claims against the Corporation and the Indemnitee. The
Corporation shall not be entitled, without the consent of the Indemnitee, to assume the defense of
any claim brought by or in the right of the Corporation or as to which counsel for the Indemnitee
shall have reasonably made the conclusion provided for in clause (ii) above. The Corporation shall
not be required to indemnify the Indemnitee under this Agreement for any amounts paid in settlement
of any Proceeding effected without its written consent. The Corporation shall not settle any
Proceeding in any manner that would impose any penalty or limitation on the Indemnitee without the
Indemnitee’s written consent. Neither the Corporation nor the Indemnitee will unreasonably
withhold or delay their consent to any proposed settlement.

4

 

     9. Advancement of Expenses. Subject to the provisions of Section 10, in the event
that the Corporation does not assume the defense pursuant to Section 8 of any Proceeding of which
the Corporation receives notice under this Agreement, any Expenses actually and reasonably incurred
by or on behalf of the Indemnitee in defending such Proceeding shall be paid by the Corporation in
advance of the final disposition of such Proceeding; provided, however, that the payment of
such Expenses incurred by or on behalf of the Indemnitee in advance of the final disposition of
such Proceeding shall be made only upon receipt of an undertaking by or on behalf of the Indemnitee
to repay all amounts so advanced in the event that it shall ultimately be determined that the
Indemnitee is not entitled to be indemnified by the Corporation as authorized in this Agreement.
Such undertaking shall be accepted without reference to the financial ability of the Indemnitee to
make repayment. Any advances and undertakings to repay pursuant to this Section 9 shall be
unsecured and interest-free.

     10. Procedures.

          (a) In order to obtain indemnification or advancement of Expenses pursuant to this Agreement,
the Indemnitee shall submit to the Corporation a written request, including in such request such
documentation and information as is reasonably available to the Indemnitee and is reasonably
necessary to determine whether and to what extent the Indemnitee is entitled to indemnification or
advancement of Expenses. Any such indemnification or advancement of Expenses shall be made
promptly, and in any event within 30 days after receipt by the Corporation of the written request
of the Indemnitee, unless the Corporation determines within such 30-day period that the Indemnitee
did not meet the applicable standard of conduct. Such determination, and any determination that
advanced Expenses must be repaid to the Corporation, shall be made in each instance (a) by a
majority vote of the directors of the Corporation consisting of persons who are not at that time
parties to the Proceeding (“disinterested directors”), whether or not a quorum, (b) by a committee
of disinterested directors designated by a majority vote of disinterested directors, whether or not
a quorum, (c) if there are no disinterested directors, or if the disinterested directors so direct,
by independent legal counsel (who may, to the extent permitted by applicable law, be regular legal
counsel to the Corporation) in a written opinion, or (d) by the stockholders of the Corporation.

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

          (c) The Indemnitee shall cooperate with the person, persons or entity making such
determination with respect to the Indemnitee’s entitlement to indemnification, including providing
to such person, persons or entity upon reasonable advance request any documentation or information
which is not privileged or otherwise protected from disclosure and which is reasonably available to
the Indemnitee and reasonably necessary to such determination. Any Expenses actually and
reasonably incurred by the Indemnitee in so cooperating shall be borne by the Corporation
(irrespective of the determination as to the Indemnitee’s entitlement to indemnification) and the
Corporation hereby indemnifies the Indemnitee therefrom.

5

 

     11. Remedies. The right to indemnification or advancement of Expenses as provided by
this Agreement shall be enforceable by the Indemnitee in any court of competent jurisdiction if the
Corporation denies such request, in whole or in part, or if no disposition thereof is made within
the applicable period referred to in Section 10. Unless otherwise required by law, the burden of
proving that indemnification or advancement of Expenses is not appropriate shall be on the
Corporation. Neither the failure of the Corporation to have made a determination prior to the
commencement of such action that indemnification is proper in the circumstances because the
Indemnitee has met the applicable standard of conduct, nor an actual determination by the
Corporation that the Indemnitee has not met such applicable standard of conduct, shall be a defense
to the action or create a presumption that the Indemnitee has not met the applicable standard of
conduct. The Indemnitee’s Expenses actually and reasonably incurred in connection with
successfully establishing the Indemnitee’s right to indemnification, in whole or in part, in any
such Proceeding shall also be indemnified by the Corporation.

     12. Partial Indemnification. If the Indemnitee is entitled under any provision of
this Agreement to indemnification by the Corporation for some or a portion of the Expenses,
judgments, fines, penalties or amounts paid in settlement actually and reasonably incurred by or on
behalf of the Indemnitee in connection with any Proceeding but not, however, for the total amount
thereof, the Corporation shall nevertheless indemnify the Indemnitee for the portion of such
Expenses, judgments, fines, penalties or amounts paid in settlement to which the Indemnitee is
entitled.

     13. Subrogation. In the event of any payment under this Agreement, the Corporation
shall be subrogated to the extent of such payment to all of the rights of recovery of the
Indemnitee, who shall execute all papers required and take all action necessary to secure such
rights, including execution of such documents as are necessary to enable the Corporation to bring
suit to enforce such rights.

     14. Term of Agreement. This Agreement shall be applicable to Proceedings commenced or
continued after execution of this Agreement, whether arising from acts or omissions occurring
before or after such execution, and this Agreement shall continue until and terminate upon the
later of (a) the date when Indemnitee is no longer be subject to any possible Proceeding subject to
indemnification by reason of Indemnitee’s Corporate Status and (b) the final termination of all
Proceedings pending on the date of execution of this Agreement in respect of which the Indemnitee
is granted rights of indemnification or advancement of Expenses hereunder and of any proceeding
commenced by the Indemnitee pursuant to Section 11 of this Agreement relating thereto.

     15. Indemnification Hereunder Not Exclusive.

          (a) The indemnification and advancement of Expenses provided by this Agreement shall not be
deemed exclusive of any other rights to which the Indemnitee may be entitled under the
Certification of Incorporation, the By-Laws, any other agreement, any vote of stockholders or
disinterested directors, the General Corporation Law of Delaware, any other law (common or
statutory), or otherwise, both as to action in the Indemnitee’s official capacity and as to action
in another capacity while holding office for the Corporation. Nothing contained in this Agreement
shall be deemed to prohibit the Corporation from purchasing and maintaining

6

 

insurance, at its expense, to protect itself or the Indemnitee against any expense, liability
or loss incurred by it or the Indemnitee in any such capacity, or arising out of the Indemnitee’s
status as such, whether or not the Indemnitee would be indemnified against such expense, liability
or loss under this Agreement; provided that the Corporation shall not be liable under this
Agreement to make any payment of amounts otherwise indemnifiable hereunder if and to the extent
that the Indemnitee has otherwise actually received such payment under any insurance policy,
contract, agreement or otherwise.

          (b) [The Corporation hereby acknowledges that Indemnitee has certain rights to
indemnification, advancement of expenses and/or insurance provided by the Fund and certain of its
affiliates (the “Fund Indemnitors”). The Corporation hereby agrees (i) that it is the indemnitor of
first resort (i.e., its obligations to Indemnitee are primary and any obligations of the Fund
Indemnitors to advance expenses or to provide indemnification for the same expenses or liabilities
incurred by Indemnitee are secondary), (ii) that, to the extent the Corporation is otherwise
required hereunder, the Corporation shall be required to advance the full amount of expenses
incurred by Indemnitee and shall be liable for the full amount of all Expenses, judgments,
penalties, fines and amounts paid in settlement to the extent legally permitted and as required by
the Certificate of Incorporation or Bylaws of the Corporation (or any agreement between the
Corporation and the Indemnitee), without regard to any rights Indemnitee may have against the Fund
Indemnitors, and, (iii) that the Corporation irrevocably waives, relinquishes and releases the Fund
Indemnitors from any and all claims against the Fund Indemnitors for contribution, subrogation or
any other recovery of any kind in respect of amounts paid by the Corporation to the Indemnitee as
required hereunder. The Corporation further agrees that no advancement or payment by the Fund
Indemnitors on behalf of the Indemnitee shall affect the foregoing and the Fund Indemnitors shall
have a right of contribution and/or be subrogated to the extent of such advancement or payment to
all of the rights of recovery of Indemnitee hereunder against the Corporation. The Corporation and
Indemnitee agree that the Fund Indemnitors are express third party beneficiaries of the terms
hereof.]

     16. No Special Rights. Nothing herein shall confer upon the Indemnitee any right to
continue to serve as an officer or director of the Corporation for any period of time or at any
particular rate of compensation.

     17. Savings Clause. If this Agreement or any portion thereof shall be invalidated on
any ground by any court of competent jurisdiction, then the Corporation shall nevertheless
indemnify the Indemnitee as to Expenses, judgments, fines, penalties and amounts paid in settlement
with respect to any Proceeding to the full extent permitted by any applicable portion of this
Agreement that shall not have been invalidated and to the fullest extent permitted by applicable
law.

     18. Counterparts. This Agreement may be executed in any number of counterparts, each
of which shall constitute the original.

     19. Successors and Assigns. This Agreement shall be binding upon the Corporation and
its successors and assigns and shall inure to the benefit of the estate, heirs, executors,
administrators and personal representatives of the Indemnitee.

7

 

     20. Headings. The headings of the 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 thereof.

     21. Modification and Waiver. This Agreement may be amended from time to time to
reflect changes in Delaware law or for other reasons. 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 provision hereof nor shall any such waiver constitute a continuing waiver.

     22. Notices. All notices, requests, demands and other communications hereunder shall
be in writing and shall be deemed to have been given (i) when delivered by hand or (ii) if mailed
by certified or registered mail with postage prepaid, on the third day after the date on which it
is so mailed:

	 	(a)	 	if to the Indemnitee, to:
	 
	 	 	 	                    

                    

                    

                    

	 
	 	(b)	 	if to the Corporation, to:
	 
	 	 	 	Accretive Health, Inc.

401 North Michigan Avenue

Suite 2700

Chicago, IL 60611

Attention: General Counsel

or to such other address as may have been furnished to the Indemnitee by the Corporation or to the
Corporation by the Indemnitee, as the case may be.

     23. Applicable Law. This Agreement shall be governed by, and construed and enforced
in accordance with, the laws of the State of Delaware. The Indemnitee may elect to have the right
to indemnification or reimbursement or advancement of Expenses interpreted on the basis of the
applicable law in effect at the time of the occurrence of the event or events giving rise to the
applicable Proceeding, to the extent permitted by law, or on the basis of the applicable law in
effect at the time such indemnification or reimbursement or advancement of Expenses is sought.
Such election shall be made, by a notice in writing to the Corporation, at the time indemnification
or reimbursement or advancement of Expenses is sought; provided, however, that if
no such notice is given, and if the General Corporation Law of Delaware is amended, or other
Delaware law is enacted, to permit further indemnification of the directors and officers, then the
Indemnitee shall be indemnified to the fullest extent permitted under the General Corporation Law,
as so amended, or by such other Delaware law, as so enacted.

8

 

     24. Enforcement. The Corporation expressly confirms and agrees that it has entered
into this Agreement in order to induce the Indemnitee to continue to serve as an officer or
director of the Corporation, and acknowledges that the Indemnitee is relying upon this Agreement in
continuing in such capacity.

     25. Entire Agreement. This Agreement sets forth the entire agreement of the parties
hereto in respect of the subject matter contained herein and supersedes all prior agreements,
whether oral or written, by any officer, employee or representative of any party hereto in respect
of the subject matter contained herein; and any prior agreement of the parties hereto in respect of
the subject matter contained herein is hereby terminated and cancelled. For avoidance of doubt,
the parties confirm that the foregoing does not apply to or limit the Indemnitee’s rights under
Delaware law or the Corporation’s Certificate of Incorporation or By-Laws.

     26. Consent to Suit. In the case of any dispute under or in connection with this
Agreement, the Indemnitee may only bring suit against the Corporation in the Court of Chancery of
the State of Delaware. The Indemnitee hereby consents to the exclusive jurisdiction and venue of
the courts of the State of Delaware, and the Indemnitee hereby waives any claim the Indemnitee may
have at any time as to forum non conveniens with respect to such venue. The Corporation shall have
the right to institute any legal action arising out of or relating to this Agreement in any court
of competent jurisdiction. Any judgment entered against either of the parties in any proceeding
hereunder may be entered and enforced by any court of competent jurisdiction.

[signature page follows]

9

 

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

	 	 	 	 	 	 	 	 	 	 	 
	Attest:	 	 	 	ACCRETIVE HEALTH, INC.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	 
	 	 
	 	By:
	 	 
	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	Name:

	 	 	 	 	 	Name:	 	 	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	INDEMNITEE:	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 

10

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