Document:

Management Services Agreement

    MANAGEMENT
      SERVICES AGREEMENT

    

     

    THIS
      MANAGEMENT SERVICES AGREEMENT ("Agreement") is made and entered into effective
      as of the 1st day of March, 2007 (the "Effective Date"), by and between
      Bedminster Financial Corp., a Nevada corporation (the "Company"), and Apogee
      Holdings Inc., a New Jersey company (“Apogee").

    

    In
      consideration of the promises herein made and on the terms and subject to the
      conditions herein contained, the Company and Apogee hereby agree as
      follows:

    

        1.
      Engagement. The Company hereby retains Apogee for the period commencing on
      the
      Effective Date and continuing through December 31, 2017, subject to termination
      as provided under Section 4 below. Apogee accepts such engagement.

    

        2.
      Duties.

    

            (a)
      Apogee will
      provide Paul Patrizio ("Executive") to act as the Chief Executive Officer of
      the
      Company and cause Executive to report directly to the Company's Board of
      Directors ("Board"). Executive will have the day-to-day responsibility for
      the
      management and direction of the Company as well as such other duties and
      responsibilities commensurate with a chief executive officer .

    

            (b)
      Executive will
      perform his duties in conformity with the reasonable and appropriate directions
      of the Board. Executive will devote such time as Apogee deems necessary to
      the
      business and affairs of the Company.

     

        3.
      Compensation.

    

            (a)
      Fee. The Company
      will pay to Apogee (or such other entity designated by Apogee) a fee (the "Fee")
      at the monthly rate of Twenty Thousand Dollars ($20,000) per month, payable
      monthly in cash on the 1st day of each month; which Fee shall be increased
      by 5
      % of such amount at each January 1 during the term of this Agreement. The
      Company will not withhold any taxes from such Fee. Such Fee shall be increased
      by $5,000 when and if the Company’s revenues, based on the trailing twelve
      months on a pro forma basis, exceed $5,000,000 and thereafter increased by
      an
      additional $2,000 for each such pro forma revenue increase of
      $5,000,000.

    

            (b)
      Benefits. Apogee
      will be responsible for payment of Executive's withholding obligations and
      health benefits.

    

    (c)
      Bonus. Apogee will earn an annual bonus as follows: ten percent (10%) of the
      annual adjusted EBITDA ( earnings before interest, taxes, depreciation,
      amortization, and less any unrealized capital gains) based on the audited
      consolidated results of the Company. 

    
      
         

      

      
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    This
      bonus shall be payable within thirty days (30) after the audit has been
      completed as follows: 40% of such bonus shall be paid in cash and the remaining
      60% shall be paid in shares of Class A Common Stock of the Company based on
      an
      amount equal to 120% of the Annual Average Stock Price. The Annual Average
      Stock
      Price for each fiscal year shall be determined by adding the closing price
      for a
      share of Class A Common Stock of the Company for each trading day of such year(
      adjusted for any recapitalizations) and dividing the sum by the number of such
      trading days; provided, however, that in no event shall the Annual Average
      Stock
      Price be less than the par value per share . Such Shares shall be restricted
      from sale for a period of three years from the date the Apogee receives such
      bonus shares. Apogee will also be entitled to an additional bonus of $100,000
      in
      cash if and when the Company becomes a separate publicly traded entity; provided
      that the Board shall determine that the Company has sufficient funds to pay
      such
      bonus or any portion of such bonus from time to time so that a portion of such
      bonus shall be paid if and only when the funds for payment of any such amounts
      is available to the Company and an equal amount of operating funds remain after
      any such payment .

     

            (d)
      Directors and
      Officers Insurance; Indemnity. The Company will maintain appropriate amounts
      of
      directors and officers insurance coverage and of liability insurance. The
      Company will name Apogee and Executive as an additional insured. The Company
      will indemnify, defend and hold Executive and Apogee harmless against any
      claims, costs (including legal fees) or liabilities respecting Executive's
      or
      Apogee's actions on behalf of the Company.

    

            (e)
      Reimbursement.
      The Company will reimburse Apogee for its reasonable Company-related expenses
      including office expense if an office is not provided by the
      Company.

    

        4.
      Termination of Employment.

    

            (a)
      Termination at
      Will by Either Party. Subject to the payment to Apogee of the applicable
      termination payment as provided in Section 4(e) below, if any, either party
      may
      terminate this Agreement, for any reason, with or without Cause (as defined
      at
      Section 4(c) and (d) below), upon written notice to the other.

    

            (b)
      Death or
      Permanent Disability of Executive. This Agreement will terminate automatically
      upon the death or permanent disability of Executive. Executive will be deemed
      permanently disabled for the purpose of this Agreement if in the good faith
      determination of the Board, Executive has become physically or mentally
      incapable of performing his duties hereunder for a continuous period of 90
      days,
      in which event Executive will be deemed permanently disabled upon the expiration
      of such 90-day period. In the event of a termination of this Agreement due
      to
      the death or permanent disability of Executive, Apogee will be entitled only
      to
      the Fee earned through the date of such death or permanent disability in
      accordance with Section 3, but to no other termination payment.

    
      
         

      

      
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            (c)
      Executive's
      Termination for Cause. The Company will have the right to terminate this
      Agreement for "Cause" at any time effective upon its giving written notice
      to
      Apogee specifying with particularity the facts and circumstances constituting
      such Cause. For such purposes, "CAUSE" means the occurrence of one or more
      of
      the following: (i) conviction of Executive of any crime constituting either
      a
      felony or embezzlement, fraud or theft with respect to the property of the
      Company; (ii) habitual alcohol or drug abuse by Executive which adversely
      affects his job performance; (iii) the intentional breach of fiduciary duty
      to
      the Company; (iv) gross neglect or bad faith misconduct in the performance
      of
      Executive's duties hereunder which causes material loss, damage or injury to
      or
      otherwise materially endangers the property, reputation or employees of the
      Company; or (v) the breach of any material provision of this Agreement by
      Apogee.

    

            (d)
      Apogee's
      Resignation . Apogee will have the right to terminate this Agreement at any
      time
      effective upon ninety (90) days written notice to the Company .

    

            (e)
      Compensation Upon
      Termination.

    

                (i)
      In the event the
      Company terminates this Agreement for Cause or Apogee voluntarily terminates
      this Agreement , Apogee will be entitled to only: (A) the compensation provided
      for in Section 3(a) hereof for the period of time ending with the date of
      termination; and (B) reimbursement for such expenses as Apogee may have properly
      incurred on behalf of the Company as provided in Section 3(e) above prior to
      the
      date of

    termination.

    

                (ii)
      In the event the
      Company terminates this Agreement without Cause , Company further will pay
      Apogee the Fee for each month or partial month remaining in the term of this
      Agreement up to a maximum termination payment of Two Hundred Fifty Thousand
      Dollars ($250,000).

    

        5.
      Assignment
      and Transfer.

    

            (a)
      Company. This
      Agreement may not be assigned by the Company to any purchaser of all or
      substantially all of the Company's business or assets without the written
      consent of Apogee.

    

            (b)
      Apogee. Apogee's
      rights and obligations under this Agreement will not be transferable by Apogee
      by assignment or otherwise, except to any entity controlled by either Executive
      or Apogee. Any other purported assignment, transfer or delegation thereof will
      be void.

    
      
         

      

      
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        6.
      Confidentiality. Apogee agrees that all trade secrets, confidential or
      proprietary information with respect to the activities and businesses of the
      Company including, without limitation, personnel information, business plans,
      marketing plans, forecasts, strategies and information which have been or are
      learned by Executive in the course of its employment by the Company
      (collectively, "PROPRIETARY INFORMATION") will be kept and held in confidence
      and trust by Apogee . Apogee will not use or disclose Proprietary Information
      except as necessary in the normal course of the business of the Company for
      its
      sole and exclusive benefit, unless Apogee is compelled so to disclose under
      process of law, in which case Apogee will first notify the Company promptly
      after receipt of a demand to so disclose. Apogee agrees and acknowledges that
      it
      will cause Executive to comply with the terms of Section 6 of this
      Agreement.

     

        7.
      Independent Contractor. It is the express intention of the parties that Apogee
      is an independent contractor and neither it nor Executive are employees of
      the
      Company. Apogee reserves the right to determine the method, manner and means
      by
      which the services will be performed. Apogee shall not be entitled to employ
      anyone other than Executive to perform the services provided by this Agreement,
      without the express written consent of the Company. Unless specifically
      requested by the Company, Apogee is not required to perform the services during
      a fixed hourly or daily time.

    

        8.
      Miscellaneous.

    

            (a)
      Governing Law;
      Interpretation. This Agreement will be governed by the substantive laws of
      the
      State of New Jersey applicable to contracts entered into and fully performed
      in
      such jurisdiction. The headings and captions of the Sections of this Agreement
      are for convenience only and in no way define, limit or extend the scope or
      intent of this Agreement or any provision hereof. This Agreement will be
      construed as a whole, according to its fair meaning, and not in favor of or
      against any party, regardless of which party may have initially drafted certain
      provisions set forth herein.

    

            (b)
      Notices. Any
      notice, request, claim or other communication required or permitted hereunder
      will be in writing and will be deemed to have been duly given if delivered
      by
      hand or if sent by Federal Express to Apogee or to the Company at its corporate
      address.

    

            (c)
      Entire Agreement;
      Amendments. This Agreement constitutes the final and complete expression of
      all
      of the terms of the understanding and agreement between the parties hereto
      with
      respect to the subject matter hereof, and this Agreement replaces and supersedes
      any and all prior or contemporaneous negotiations, communications,
      understandings, obligations, commitments, agreements or contracts, whether
      written or oral, between the parties respecting the subject matter hereof.
      This
      Agreement may not be modified, amended, altered or supplemented except by means
      of the execution and delivery of a written instrument mutually executed by
      both
      parties.

    

     

    
      
         

      

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

     

    

      
        	
                BEDMINSTER
                  FINANCIAL CORP. 

              	
                APOGEE
                  HOLDINGS INC.

              
	 	 
	 	 
	
                By:
                  /s/                                

              	
                By:
                  /s/                            

              

      

    

     

     

     

     

     

    5Forum of Directors and Officers: Indemnity Agreement

     

    Exhibit
      10.17

    
 

    INDEMNITY
      AGREEMENT

     

    This
      Indemnity Agreement, dated as of July 11, 2006, is made by and between
      PureDepth, Inc., a Delaware corporation (the “Company”),
      and
      _________________________ (the “Indemnitee”).

     

    RECITALS

     

    A. The
      Company is aware that competent and experienced persons are increasingly
      reluctant to serve as directors, officers or agents of corporations unless
      they
      are protected by comprehensive liability insurance or indemnification, due
      to
      increased exposure to litigation costs and risks resulting from their service
      to
      such corporations, and due to the fact that the exposure frequently bears no
      reasonable relationship to the compensation of such directors, officers and
      other agents.

     

    B. The
      statutes and judicial decisions regarding the duties of directors and officers
      are often difficult to apply, ambiguous, or conflicting, and therefore fail
      to
      provide such directors, officers and agents with adequate, reliable knowledge
      of
      legal risks to which they are exposed or information regarding the proper course
      of action to take.

     

    C. Plaintiffs
      often seek damages in such large amounts and the costs of litigation may be
      so
      enormous (whether or not the case is meritorious), that the defense and/or
      settlement of such litigation is often beyond the personal resources of
      directors, officers and other agents.

     

    D. The
      Company believes that it is unfair for its directors, officers and agents and
      the directors, officers and agents of its subsidiaries to assume the risk of
      huge judgments and other expenses which may occur in cases in which the
      director, officer or agent received no personal profit and in cases where the
      director, officer or agent was not culpable.

     

    E. The
      Company recognizes that the issues in controversy in litigation against a
      director, officer or agent of a corporation such as the Company or its
      subsidiaries are often related to the knowledge, motives and intent of such
      director, officer or agent, that he is usually the only witness with knowledge
      of the essential facts and exculpating circumstances regarding such matters,
      and
      that the long period of time which usually elapses before the trial or other
      disposition of such litigation often extends beyond the time that the director,
      officer or agent can reasonably recall such matters and may extend beyond the
      normal time for retirement for such director, officer or agent with the result
      that he, after retirement or in the event of his death, his spouse, heirs,
      executors or administrators, may be faced with limited ability and undue
      hardship in maintaining an adequate defense, which may discourage such a
      director, officer or agent from serving in that position.

     

    F. Based
      upon their experience as business managers, the Board of Directors of the
      Company (the “Board”)
      has
      concluded that, to retain and attract talented and experienced individuals
      to
      serve as directors, officers and agents of the Company and its subsidiaries
      and
      to encourage such individuals to take the business risks necessary for the
      success of the Company and its subsidiaries, it is necessary for the Company
      to
      contractually indemnify its directors, officers and agents and the directors,
      officers and agents of its subsidiaries, and to assume for itself maximum
      liability for expenses and damages in connection with claims against such
      directors, officers and agents in connection with their service to the Company
      and its subsidiaries, and has further concluded that the failure to provide
      such
      contractual indemnification could result in great harm to the Company and its
      subsidiaries and the Company’s stockholders.

     

    
      
        
        

      

      
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    G. Section 145
      of the General Corporation Law of Delaware, under which the Company is organized
      (“Section 145”),
      empowers the Company to indemnify its directors, officers, employees and agents
      by agreement and to indemnify persons who serve, at the request of the Company,
      as the directors, officers, employees or agents of other corporations or
      enterprises, and expressly provides that the indemnification provided by
      Section 145 is not exclusive.

     

    H. The
      Company desires and has requested the Indemnitee to serve or continue to serve
      as a director, officer or agent of the Company and/or one or more subsidiaries
      of the Company free from undue concern for claims for damages arising out of
      or
      related to such services to the Company and/or one or more subsidiaries of
      the
      Company.

     

    I. Indemnitee
      is willing to serve, or to continue to serve, the Company and/or one or more
      subsidiaries of the Company, provided that he is furnished the indemnity
      provided for herein.

     

    AGREEMENT

     

    NOW,
      THEREFORE, the parties hereto, intending to be legally bound, hereby agree
      as
      follows:

     

    1.     Definitions.

     

    (a) Agent.
      For the
      purposes of this Agreement, “agent” of the Company means any person who is or
      was a director, officer, employee or other agent of the Company or a subsidiary
      of the Company; or is or was serving at the request of, for the convenience
      of,
      or to represent the interests of the Company or a subsidiary of the Company
      as a
      director, officer, employee or agent of another foreign or domestic corporation,
      partnership, joint venture, trust or other enterprise; or was a director,
      officer, employee or agent of a foreign or domestic corporation which was a
      predecessor corporation of the Company or a subsidiary of the Company, or was
      a
      director, officer, employee or agent of another enterprise at the request of,
      for the convenience of, or to represent the interests of such predecessor
      corporation.

     

    (b) Expenses.
      For
      purposes of this Agreement, “expenses” include all out-of-pocket costs of any
      type or nature whatsoever (including, without limitation, all attorneys’ fees
      and related disbursements), actually and reasonably incurred by the Indemnitee
      in connection with either the investigation, defense or appeal of a proceeding
      or establishing or enforcing a right to indemnification under this Agreement
      or
      Section 145 or otherwise; provided, however, that “expenses” shall not
      include any judgments, fines, ERISA excise taxes or penalties, or amounts paid
      in settlement of a proceeding.

     

    
      
        
        

      

      
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    (c) Proceeding.
      For the
      purposes of this Agreement, “proceeding” means any threatened, pending, or
      completed action, suit or other proceeding, whether civil, criminal,
      administrative, or investigative.

     

    (d) Subsidiary.
      For
      purposes of this Agreement, “subsidiary” means any corporation of which more
      than 50% of the outstanding voting securities is owned directly or indirectly
      by
      the Company, by the Company and one or more other subsidiaries, or by one or
      more other subsidiaries.

     

    2.     Agreement
      to Serve.
      The
      Indemnitee agrees to serve and/or continue to serve as agent of the Company,
      at
      its will (or under separate agreement, if such agreement exists), in the
      capacity Indemnitee currently serves as an agent of the Company, so long as
      he
      is duly appointed or elected and qualified in accordance with the applicable
      provisions of the Bylaws of the Company or any subsidiary of the Company or
      until such time as he tenders his resignation in writing; provided, however,
      that nothing contained in this Agreement is intended to create any right to
      continued employment by Indemnitee.

     

    3.     Liability
      Insurance.

     

    (a) Maintenance
      of D&O Insurance.
      The
      Company hereby covenants and agrees that, so long as the Indemnitee shall
      continue to serve as an agent of the Company and thereafter so long as the
      Indemnitee shall be subject to any possible proceeding by reason of the fact
      that the Indemnitee was an agent of the Company, the Company, subject to
      Section 3(c), shall promptly obtain and maintain in full force and effect
      directors’ and officers’ liability insurance (“D&O
      Insurance”)
      in
      reasonable amounts from established and reputable insurers.

     

    (b) Rights
      and Benefits.
      In all
      policies of D&O Insurance, the Indemnitee shall be named as an insured in
      such a manner as to provide the Indemnitee the same rights and benefits as
      are
      accorded to the most favorably insured of the Company’s directors, if the
      Indemnitee is a director; or of the Company’s officers, if the Indemnitee is not
      a director of the Company but is an officer; or of the Company’s key employees,
      if the Indemnitee is not a director or officer but is a key
      employee.

     

    (c) Limitation
      on Required Maintenance of D&O Insurance.
      Notwithstanding the foregoing, the Company shall have no obligation to obtain
      or
      maintain D&O Insurance if the Company determines in good faith that such
      insurance is not reasonably available, the premium costs for such insurance
      are
      disproportionate to the amount of coverage provided, the coverage provided
      by
      such insurance is limited by exclusions so as to provide an insufficient
      benefit, or the Indemnitee is covered by similar insurance maintained by a
      subsidiary of the Company.

     

    4.     Mandatory
      Indemnification.
      Subject
      to Section 9 below, the Company shall indemnify the Indemnitee as
      follows:

     

    (a) Third
      Party Actions.
      If the
      Indemnitee is a person who was or is a party or is threatened to be made a
      party
      to any proceeding (other than an action by or in the right of the Company)
      by
      reason of the fact that he is or was an agent of the Company, or by reason
      of
      anything done or not done by him in any such capacity, the Company shall
      indemnify the Indemnitee against any and all expenses and liabilities of any
      type whatsoever (including, but not limited to, judgments, fines, ERISA excise
      taxes and penalties, and amounts paid in settlement) actually and reasonably
      incurred by him in connection with the investigation, defense, settlement or
      appeal of such proceeding, provided the Indemnitee acted in good faith and
      in a
      manner he reasonably believed to be in or not opposed to the best interests
      of
      the Company and its stockholders, and, with respect to any criminal action
      or
      proceeding, had no reasonable cause to believe his conduct was
      unlawful.

     

    
      
        
        

      

      
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    (b) Derivative
      Actions.
      If the
      Indemnitee is a person who was or is a party or is threatened to be made a
      party
      to any proceeding by or in the right of the Company by reason of the fact that
      he is or was an agent of the Company, or by reason of anything done or not
      done
      by him in any such capacity, the Company shall indemnify the Indemnitee against
      all expenses actually and reasonably incurred by him in connection with the
      investigation, defense, settlement, or appeal of such proceeding, provided
      the
      Indemnitee acted in good faith and in a manner he reasonably believed to be
      in
      or not opposed to the best interests of the Company and its stockholders; except
      that no indemnification under this subsection 4(b) shall be made in respect
      to any claim, issue or matter as to which such person shall have been finally
      adjudged to be liable to the Company by a court of competent jurisdiction unless
      and only to the extent that the court in which such proceeding was brought
      shall
      determine upon application that, despite the adjudication of liability but
      in
      view of all the circumstances of the case, such person is fairly and reasonably
      entitled to indemnity for such amounts which the court shall deem
      proper.

     

    (c) Actions
      where Indemnitee is Deceased.
      If the
      Indemnitee is a person who was or is a party or is threatened to be made a
      party
      to any proceeding by reason of the fact that he is or was an agent of the
      Company, or by reason of anything done or not done by him in any such capacity,
      and if prior to, during the pendency of after completion of such proceeding
      Indemnitee becomes deceased, the Company shall indemnify the Indemnitee’s heirs,
      executors and administrators against any and all expenses and liabilities of
      any
      type whatsoever (including, but not limited to, judgments, fines, ERISA excise
      taxes and penalties, and amounts paid in settlement) actually and reasonably
      incurred to the extent Indemnitee would have been entitled to indemnification
      pursuant to Sections 4(a) or 4(b) above were Indemnitee still
      alive.

     

    (d) Limitations.
      Notwithstanding the foregoing, the Company shall not be obligated to indemnify
      the Indemnitee for expenses or liabilities of any type whatsoever (including,
      but not limited to, judgments, fines, ERISA excise taxes and penalties, and
      amounts paid in settlement) for which payment is actually made to or on behalf
      of Indemnitee under a valid and collectible insurance policy of D&O
      Insurance, or under a valid and enforceable indemnity clause, by-law or
      agreement.

     

    5.     Partial
      Indemnification.
      If the
      Indemnitee is entitled under any provision of this Agreement to indemnification
      by the Company for some or a portion of any expenses or liabilities of any
      type
      whatsoever (including, but not limited to, judgments, fines, ERISA excise taxes
      and penalties, and amounts paid in settlement) incurred by him in the
      investigation, defense, settlement or appeal of a proceeding, but not entitled,
      however, to indemnification for all of the total amount hereof, the Company
      shall nevertheless indemnify the Indemnitee for such total amount except as
      to
      the portion hereof to which the Indemnitee is not entitled.

     

    
      
        
        

      

      
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    6.     Mandatory
      Advancement of Expenses.
      Subject
      to Section 9(a) below, the Company shall advance all expenses incurred by
      the Indemnitee in connection with the investigation, defense, settlement or
      appeal of any proceeding to which the Indemnitee is a party or is threatened
      to
      be made a party by reason of the fact that the Indemnitee is or was an agent
      of
      the Company. Indemnitee hereby undertakes to repay such amounts advanced only
      if, and to the extent that, it shall be determined ultimately that the
      Indemnitee is not entitled to be indemnified by the Company as authorized
      hereby. The advances to be made hereunder shall be paid by the Company to the
      Indemnitee within twenty (20) days following delivery of a written request
      therefor by the Indemnitee to the Company. [In the event that the Company fails
      to pay expenses as incurred by the Indemnitee as required by this paragraph,
      Indemnitee may seek mandatory injunctive relief from any court having
      jurisdiction to require the Company to pay expenses as set forth in this
      paragraph. If Indemnitee seeks mandatory injunctive relief pursuant to this
      paragraph, it shall not be a defense to enforcement of the Company’s obligations
      set forth in this paragraph that Indemnitee has an adequate remedy at law for
      damages.

     

    7.     Notice
      and Other Indemnification Procedures.

     

    (a) Notice
      by Indemnitee.
      Promptly after receipt by the Indemnitee of notice of the commencement of or
      the
      threat of commencement of any proceeding, the Indemnitee shall, if the
      Indemnitee believes that indemnification with respect thereto may be sought
      from
      the Company under this Agreement, notify the Company of the commencement or
      threat of commencement thereof.

     

    (b) Notice
      by Company.
      If, at
      the time of the receipt of a notice of the commencement of a proceeding pursuant
      to Section 7(a) hereof, the Company has D&O Insurance in effect, the
      Company shall give prompt notice of the commencement of such proceeding to
      the
      insurers in accordance with the procedures set forth in the respective policies.
      The Company shall thereafter take all necessary or desirable action to cause
      such insurers to pay, on behalf of the Indemnitee, all amounts payable as a
      result of such proceeding in accordance with the terms of such
      policies.

     

    (c) Defense.
      In the
      event the Company shall be obligated to pay the expenses of any proceeding
      against the Indemnitee, the Company, if appropriate, shall be entitled to assume
      the defense of such proceeding, with counsel approved by the Indemnitee, upon
      the delivery to the Indemnitee of written notice of its election so to do.
      After
      delivery of such notice, approval of such counsel by the Indemnitee and the
      retention of such counsel by the Company, the Company will not be liable to
      the
      Indemnitee under this Agreement for any fees of counsel subsequently incurred
      by
      the Indemnitee with respect to the same proceeding, provided that (i) the
      Indemnitee shall have the right to employ his counsel in any such proceeding
      at
      the Indemnitee’s expense; and (ii) if (A) the employment of counsel by
      the Indemnitee has been previously authorized by the Company, (B) the
      Indemnitee shall have reasonably concluded that there may be a conflict of
      interest between the Company and the Indemnitee in the conduct of any such
      defense, or (C) the Company shall not, in fact, have employed counsel to
      assume the defense of such proceeding, then the fees and expenses of
      Indemnitee’s counsel shall be at the expense of the Company.

     

    
      
        
        

      

      
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    8.     Determination
      of Right to Indemnification.

     

    (a) Successful
      Defense.
      To the
      extent the Indemnitee has been successful on the merits or otherwise in defense
      of any proceeding (including, without limitation, an action by or in the right
      of the Company) to which the Indemnitee was a party by reason of the fact that
      he is or was an agent of the Company at any time, the Company shall indemnify
      the Indemnitee against all expenses of any type whatsoever actually and
      reasonably incurred by him in connection with the investigation, defense or
      appeal of such proceeding.

     

    (b) Other
      Situations.
      In the
      event that Section 8(a) is inapplicable, the Company shall also indemnify
      the Indemnitee unless, and except to the extent that, the Company shall prove
      by
      clear and convincing evidence in a forum listed in Section 8(c) below that
      the Indemnitee has not met the applicable standard of conduct required to
      entitle the Indemnitee to such indemnification.

     

    (c) Selection
      of Forum.
      The
      Indemnitee shall be entitled to select the forum in which the validity of the
      Company’s claim under Section 8(b) hereof that the Indemnitee is not
      entitled to indemnification will be heard from among the following:

     

    (i) A
      quorum
      of the Board consisting of directors who are not parties to the proceeding
      for
      which indemnification is being sought;

     

    (ii) The
      stockholders of the Company;

     

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

     

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

     

    (d) Submission
      to Forum.
      As soon
      as practicable, and in no event later than thirty (30) days after written notice
      of the Indemnitee’s choice of forum pursuant to Section 8(c) above, the
      Company shall, at its own expense, submit to the selected forum in such manner
      as the Indemnitee or the Indemnitee’s counsel may reasonably request, its claim
      that the Indemnitee is not entitled to indemnification; and the Company shall
      act in the utmost good faith to assure the Indemnitee a complete opportunity
      to
      defend against such claim.

     

    (e) Application
      to Court of Chancery.
      Notwithstanding a determination by any forum listed in Section 8(c) hereof
      that Indemnitee is not entitled to indemnification with respect to a specific
      proceeding, the Indemnitee shall have the right to apply to the Court of
      Chancery of Delaware, the court in which that proceeding is or was pending
      or
      any other court of competent jurisdiction, for the purpose of enforcing the
      Indemnitee’s right to indemnification pursuant to this Agreement.

     

    (f) Expenses
      Related to this Agreement.
      Notwithstanding any other provision in this Agreement to the contrary, the
      Company shall indemnify the Indemnitee against all expenses incurred by the
      Indemnitee in connection with any hearing or proceeding under this
      Section 8 involving the Indemnitee and against all expenses incurred by the
      Indemnitee in connection with any other proceeding between the Company and
      the
      Indemnitee involving the interpretation or enforcement of the rights of the
      Indemnitee under this Agreement unless a court of competent jurisdiction finds
      that each of the claims and/or defenses of the Indemnitee in any such proceeding
      was frivolous or made in bad faith.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    9.     Exceptions.
      Any
      other provision herein to the contrary notwithstanding, the Company shall not
      be
      obligated pursuant to the terms of this Agreement:

     

    (a) Claims
      Initiated by Indemnitee.
      To
      indemnify or advance expenses to the Indemnitee with respect to proceedings
      or
      claims initiated or brought voluntarily by the Indemnitee and not by way of
      defense, unless (i) such indemnification is expressly required to be made
      by law, (ii) the proceeding was authorized by the Board, (iii) such
      indemnification is provided by the Company, in its sole discretion, pursuant
      to
      the powers vested in the Company under the General Corporation Law of Delaware
      or (iv) the proceeding is brought to establish or enforce a right to
      indemnification under this Agreement or any other statute or law or otherwise
      as
      required under Section 145;

     

    (b) Lack
      of Good Faith.
      To
      indemnify the Indemnitee for any expenses incurred by the Indemnitee with
      respect to any proceeding instituted by the Indemnitee to enforce or interpret
      this Agreement, if a court of competent jurisdiction determines that each of
      the
      material assertions made by the Indemnitee in such proceeding was not made
      in
      good faith or was frivolous; or

     

    (c) Unauthorized
      Settlements.
      To
      indemnify the Indemnitee under this Agreement for any amounts paid in settlement
      of a proceeding unless the Company consents to such settlement, which consent
      shall not be unreasonably withheld.

     

    10.     Non-exclusivity.
      The
      provisions for indemnification and advancement of expenses set forth in this
      Agreement shall not be deemed exclusive of any other rights which the Indemnitee
      may have under any provision of law, the Company’s Certificate of Incorporation
      or Bylaws, the vote of the Company’s stockholders or disinterested directors,
      other agreements, or otherwise, both as to action in his official capacity
      and
      to action in another capacity while occupying his position as an agent of the
      Company, and the Indemnitee’s rights hereunder shall continue after the
      Indemnitee has ceased acting as an agent of the Company and shall inure to
      the
      benefit of the heirs, executors and administrators of the
      Indemnitee.

     

    11.     Enforcement.
      Any
      right to indemnification or advances granted by this Agreement to Indemnitee
      shall be enforceable by or on behalf of Indemnitee in any court of competent
      jurisdiction if (i) the claim for indemnification or advances is denied, in
      whole or in part, or (ii) no disposition of such claim is made within
      ninety (90) days of request therefor. Indemnitee, in such enforcement action,
      if
      successful in whole or in part, shall be entitled to be paid also the expense
      of
      prosecuting his claim. It shall be a defense to any action for which a claim
      for
      indemnification is made under this Agreement (other than an action brought
      to
      enforce a claim for expenses pursuant to Section 6 hereof, provided that
      the required undertaking has been tendered to the Company) that Indemnitee
      is
      not entitled to indemnification because of the limitations set forth in
      Sections 4 and 9 hereof. Neither the failure of the Company (including its
      Board of Directors or its stockholders) to have made a determination prior
      to
      the commencement of such enforcement action that indemnification of Indemnitee
      is proper in the circumstances, nor an actual determination by the Company
      (including its Board of Directors or its stockholders) that such indemnification
      is improper, shall be a defense to the action or create a presumption that
      Indemnitee is not entitled to indemnification under this Agreement or
      otherwise.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    12.     Subrogation.
      In the
      event the Company is obligated to make a payment under this Agreement, the
      Company shall be subrogated to the extent of such payment to all of the rights
      of recovery under an insurance policy or any other indemnity agreement covering
      the Indemnitee, who shall execute all documents required and shall do all acts
      that may be necessary to secure such rights and to enable the Company
      effectively to bring suit to enforce such rights.

     

    13.     Survival
      of Rights.

     

    (a) All
      agreements and obligations of the Company contained herein shall continue during
      the period Indemnitee is an agent of the Company and shall continue thereafter
      so long as Indemnitee shall be subject to any possible claim or threatened,
      pending or completed action, suit or proceeding, whether civil, criminal,
      arbitrational, administrative or investigative, by reason of the fact that
      Indemnitee was serving in the capacity referred to herein.

     

    (b) The
      Company shall require any successor to the Company (whether direct or indirect,
      by purchase, merger, consolidation or otherwise) to all or substantially all
      of
      the business or assets of the Company, expressly to assume and agree to perform
      this Agreement in the same manner and to the same extent that the Company would
      be required to perform if no such succession had taken place.

     

    14.     Interpretation
      of Agreement.
      It is
      understood that the parties hereto intend this Agreement to be interpreted
      and
      enforced so as to provide indemnification to the Indemnitee to the fullest
      extent permitted by law including those circumstances in which indemnification
      would otherwise be discretionary.

     

    15.     Severability.
      If any
      provision or provisions of this Agreement shall be held to be invalid, illegal
      or unenforceable for any reason whatsoever, (i) the validity, legality and
      enforceability of the remaining provisions of the Agreement (including without
      limitation, all portions of any paragraphs of this Agreement containing any
      such
      provision held to be invalid, illegal or unenforceable, that are not themselves
      invalid, illegal or unenforceable) shall not in any way be affected or impaired
      thereby, and (ii) to the fullest extent possible, the provisions of this
      Agreement (including, without limitation, all portions of any paragraph of
      this
      Agreement containing any such provision held to be invalid, illegal or
      unenforceable, that are not themselves invalid, illegal or unenforceable) shall
      be construed so as to give effect to the intent manifested by the provision
      held
      invalid, illegal or unenforceable and to give effect to Section 14
      hereof.

     

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

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    17.     Notice.
      All
      notices, requests, demands and other communications under this Agreement shall
      be in writing and shall be deemed duly given (i) if delivered by hand and
      receipted for by the party addressee or (ii) if mailed by certified or
      registered mail with postage prepaid, on the third business day after the
      mailing date. Addresses for notice to either party are as shown on the signature
      page of this Agreement, or as subsequently modified by written
      notice.

     

    18.     Governing
      Law.
      This
      Agreement shall be governed exclusively by and construed according to the laws
      of the State of Delaware as applied to contracts between Delaware residents
      entered into and to be performed entirely within Delaware.

     

    The
      parties hereto have entered into this Indemnity Agreement effective as of the
      date first above written.

     

    
      	 	
              THE
                COMPANY:

            
	 	 
	 	
              PUREDEPTH,
                INC.

            
	 	 	 
	 	
              By

            	 
	 	 	 
	 	
              Title

            	 
	 	 	 
	 	
              Address

            	 
	 	 	 
	 	 	 
	 	 	 
	 	
              INDEMNITEE:

            
	 	 	 
	 	 	 
	 	
              [Name]

            	 
	 	 	 
	 	
              Address 

            	
            
	 	 	 
	 	 	 

    

    
 

    9

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