Document:

Indemnification Agreement

 Exhibit 10.3 
  
 INDEMNIFICATION AGREEMENT 
  
 This Indemnification Agreement made and entered into this 5th day of July, 2005 (“Agreement”), by and between Invitrogen Corporation, a Delaware
corporation (together with any successor or successors and predecessor or predecessors thereto, the “Company”) and Peter M. Leddy (“Indemnitee”). 
  
 WHEREAS, it is essential to the Company that it be able to retain and attract as directors, officers, employees and agents
the most capable persons available; 
  
 WHEREAS, increased
corporate litigation has subjected directors, officers, employees and agents of corporations to litigation risks and expenses and the limitations on the availability of directors and officers liability insurance have made it increasingly difficult
for the Company to attract and retain such persons; 
  
 WHEREAS,
its by-laws permit the Company to enter into indemnification arrangements and agreements; 
  
 WHEREAS, the Company desires to provide Indemnitee with specific contractual assurance of Indemnitee’s rights to full indemnification against litigation risks and expenses (regardless, among other things, of any
amendment to or revocation of the Company’s by-laws or any change in the ownership of the Company or the composition of its Board of Directors), which indemnification is intended to be greater than that which is afforded by the Company’s
certificate of incorporation, by-laws and, to the extent insurance is available, the coverage of Indemnitee under the Company’ directors and officers liability insurance policies; and 
  
 WHEREAS, Indemnitee is relying upon the rights afforded under this Agreement
in continuing in Indemnitee’s position as an agent of the Company. 
  
 NOW, THEREFORE, in consideration of the premises and the covenants contained herein, the Company and Indemnitee do hereby covenant and agree as follows: 
  
 1. Definitions. 
  
 (a) “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) “Corporate Status” describes the status of a person who is serving or has served (i) as an
agent of the Company, (ii) in any capacity with respect to any employee benefit plan of the Company, or (iii) as a director, partner, trustee, officer, employee, or agent of any other Entity as defined below at the request of the Company.

  
 (c) “Entity” shall mean any corporation,
partnership, joint venture, trust, foundation, association, organization or other legal entity and any group or division of the Company or any of its subsidiaries. 
  
 (d) “Expenses” shall mean all reasonable fee, costs and expenses incurred in connection with any Proceeding (as
defined below), including, without limitation, attorney’s fees, disbursements and retainers (including, without limitation, any such fees, disbursements and retainers incurred by Indemnitee pursuant to Section 12 of this Agreement), fees and
disbursements of expert witnesses, private investigators and professional advisors (including, without limitation, accountants and investment bankers), court costs, transcript costs, fees of experts, travel expenses, duplicating, printing and
binding costs, telephone and fax transmission charges, postage, delivery services, secretarial services, and other disbursements and expenses. 
  
 (e) “Indemnifiable Expenses,” “Indemnifiable Liabilities” and “Indemnifiable Amounts” shall have the meanings ascribed to
those terms in Section 3(a) below. 
  
 (f)
“Liabilities” shall mean judgments, damages, liabilities, losses, penalties, excise taxes, fines and amounts paid in settlement. 
  
 (g) “Proceeding” shall mean any threatened, pending or completed claim, action, suit, arbitration, alternate dispute resolution process,
investigation, administrative hearing, appeal, or any other proceeding, whether civil, criminal, administrative or investigative, whether formal or informal, including a proceeding initiated by Indemnitee pursuant to Section 12 of this Agreement to
enforce Indemnitee’s rights hereunder. 
  
 2. Services of
Indemnitee. In consideration of the Company’s covenants and commitments hereunder, Indemnitee agrees to serve or continue to serve as an agent of the Company. However, this Agreement shall not impose any obligation on Indemnitee or the
Company to continue Indemnitee’s service to the Company beyond any period otherwise required by law or by other agreements or commitments of the parties, if any. 
  
 3. Agreement to Indemnify. The Company agrees to indemnify Indemnitee as follows: 
  
 (a) Subject to the exceptions contained in Section 4(a) below, if Indemnitee
was or is a party or is threatened to be made a party to any 

  

 -2- 

 
Proceeding (other than an action by or in the right of the Company) by reason of Indemnitee’s Corporate Status, Indemnitee shall be indemnified by the
Company against all Expenses and Liabilities incurred or paid by Indemnitee in connection with such Proceeding (referred to herein as “Indemnifiable Expenses” and “Indemnifiable Liabilities,” respectively, and collectively as
“Indemnifiable Amounts”). 
  
 (b) Subject to the
exceptions contained in Section 4(b) below, if Indemnitee was or is a party or is threatened to be made a party to any Proceeding by or in the right of the Company to procure a judgment in its favor by reason of Indemnitee’s Corporate Status,
Indemnitee shall be indemnified by the Company against all Indemnifiable Expenses. 
  
 4. Exceptions to Indemnification. Indemnitee shall be entitled to indemnification under Section 3(a) and 3(b) above in all circumstances other than the following: 
  
 (a) If indemnification is requested under Section 3(a) and it has been
adjudicated finally by a court of competent jurisdiction that, in connection with the subject of the Proceeding out of which the claim for indemnification has arisen, Indemnitee failed to act in good faith and in a manner Indemnitee reasonably
believed to be in or not opposed to the best interests of the Company or, with respect to any criminal action or proceeding, Indemnitee had reasonable cause to believe that Indemnitee’s conduct was unlawful, Indemnitee shall not be entitled to
payment of Indemnifiable Amounts hereunder. 
  
 (b) If
indemnification is requested under Section 3(b) and 
  
 (i) It
has been adjudicated finally by a court of competent jurisdiction that, in connection with the subject of the Proceeding out of which the claim for indemnification has arisen, Indemnitee failed to act in good faith and in a manner Indemnitee
reasonably believed to be in or not opposed to the best interests of the Company, Indemnitee shall not be entitled to payment of Indemnifiable Expenses hereunder; or 
  
 (ii) It has been adjudicated finally by a court of competent jurisdiction that Indemnitee is liable to the Company with
respect to any claim, issue or matter involved in the Proceeding out of which the claim for indemnification has arisen, including, without limitation, a claim that Indemnitee received an improper personal benefit, no Indemnifiable Expenses shall be
paid with respect to such claim, issue or matter unless the Court of Chancery or another 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, Indemnitee is fairly and reasonably entitled to indemnity for such Indemnifiable Expenses which such court shall deem proper. 
  

 -3- 

 (c) 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. Notice Procedure. 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. 
  
 6. Procedure for Company to Assume the 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. 
  
 7. Procedure for Payment of Indemnifiable Amounts. Indemnitee shall submit to the Company a written request specifying the Indemnifiable Amounts
for which Indemnitee seeks payment under Section 3 of this Agreement and the basis for the claim. The Company shall pay such Indemnifiable Amounts to Indemnitee within twenty (20) calendar days of receipt of the request. At the request of the
Company, Indemnitee shall furnish such documentation and information as are reasonably available to Indemnitee and necessary to establish that Indemnitee is entitled to indemnification hereunder. 
  
 8. Indemnification for Expenses of a Party Who is Wholly or Partly
Successful. Notwithstanding any other provision of this Agreement, and without limiting any such provision, to the extent that Indemnitee is, by reason of Indemnitee’s Corporate Status, a party to and is successful, on the merits or
otherwise, in any Proceeding, Indemnitee shall be indemnified against all Expenses reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection therewith. If Indemnitee is not wholly successful in such Proceeding but is successful,
on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Company shall indemnify Indemnitee against all Expenses reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection
with each successfully resolved claim, 

  

 -4- 

 
issue or matter. For purposes of this Agreement, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice,
shall be deemed to be a successful result as to such claim, issue or matter. 
  
 9. Effect of Certain Resolutions. Neither the settlement or termination of any Proceeding nor the failure of the Company to award indemnification or to determine that indemnification is payable shall create an
adverse presumption that Indemnitee is not entitled to indemnification hereunder. In addition, the termination of any proceeding by judgment, order, settlement, conviction, or upon a plea of nolo contendere or its equivalent shall not create a
presumption that Indemnitee did not act in good faith and in a manner which Indemnitee reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal action or proceeding, had reasonable cause to
believe that Indemnitee’s action was unlawful. 
  
 10.
Agreement to Advance Interim Expenses; Conditions. The Company shall pay to Indemnitee all Indemnifiable Expenses incurred by Indemnitee in connection with any Proceeding, including a Proceeding by or in the right of the Company, in advance
of the final disposition of such Proceeding, if Indemnitee furnishes the Company with a written undertaking to repay the amount of such Indemnifiable Expenses advanced to Indemnitee if it is finally determined by a court of competent jurisdiction
that Indemnitee is not entitled under this Agreement to indemnification with respect to such Expenses. Such undertaking shall be an unlimited general obligation of Indemnitee, shall be accepted by the Company without regard to the financial ability
of Indemnitee to make repayment, and in no event shall be required to be secured. 
  
 11. Procedure for Payment of Interim Expenses. Indemnitee shall submit to the Company a written request specifying the Indemnifiable Expenses for which Indemnitee seeks an advancement under Section 10 of this
Agreement, together with documentation evidencing that Indemnitee has incurred such Indemnifiable Expenses. Payment of Indemnifiable Expenses under Section 10 shall be made no later than twenty (20) calendar days after the Company’s receipt of
such request and the undertaking required by Section 10. 
  
 12.
Remedies of Indemnitee. 
  
 (a) Right to Petition
Court. In the event that Indemnitee makes a request for payment of Indemnifiable Amounts under Sections 3 and 7 above or a request for an advancement of Indemnifiable Expenses under Sections 10 and 11 above and the Company fails to make such
payment or advancement in a timely manner pursuant to the terms of this Agreement, Indemnitee may petition the appropriate judicial authority to enforce the Company’s obligations under this Agreement. 
  
 (b) Burden of Proof. In any judicial proceeding brought under Section
12(a) above, the Company shall have the burden of proving that Indemnitee is not entitled to payment of Indemnifiable Amounts hereunder. 
  

 -5- 

 (c) Expenses. The Company agrees to reimburse Indemnitee in full for any Expenses incurred by
Indemnitee in connection with investigating, preparing for, litigating, defending or settling any action brought by Indemnitee under Section 12(a) above, or in connection with any claim or counterclaim brought by the Company in connection therewith.

  
 (d) Validity of Agreement. The Company shall be
precluded from asserting in any Proceeding, including, without limitation, an action under Section 12(a) above, that the provisions of this Agreement are not valid, binding and enforceable or that there is insufficient consideration for this
Agreement and shall stipulate in court that the Company is bound by all the provisions of this Agreement. 
  
 (e) Failure to Act Not a Defense. The failure of the Company (including its Board of Directors or any committee thereof, independent legal counsel,
or stockholders) to make a determination concerning the permissibility of the payment of Indemnifiable Amounts or the advancement of Indemnifiable Expenses under this Agreement shall not be a defense in any action brought under Section 12(a) above,
and shall not create a presumption that such payment or advancement is not permissible. 
  
 13. Representations and Warranties of the Company. The Company hereby represents and warrants to Indemnitee as follows: 
  

(a) Authority. The Company has all necessary power and authority to enter into, and be bound by the terms of, this Agreement, and the execution,
delivery and performance of the undertakings contemplated by this Agreement have been duly authorized by the Company. 
  
 (b) Enforceability. This Agreement, when executed and delivered by the Company in accordance with the provisions hereof, shall be a legal, valid
and binding obligation of the Company, enforceable against the Company in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, moratorium, reorganization or similar laws affecting the
enforcement of creditors’ rights generally. 
  
 14.
Insurance. The Company hereby covenants and agrees that, so long as 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 will use its commercially reasonable efforts to obtain and maintain a policy or policies of insurance with reputable insurance companies providing the Indemnitee with coverage for losses from
wrongful acts, and to ensure the Company’s performance of its indemnification obligations under this Agreement. In all policies of director and officer liability insurance, Indemnitee shall be named as an insured in such a manner as to provide
Indemnitee at least the same rights and benefits as are accorded to the most favorably insured of the Company’s directors if Indemnitee is a director; or of the Company’s 

  

 -6- 

 
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. Notwithstanding the foregoing, if the Company, after employing commercially reasonable efforts as provided in this section, determines in good faith that such insurance is not reasonably available, if the premium
costs for such insurance are disproportionate to the amount of coverage provided, or if the coverage provided by such insurance is limited by exclusions so as to provide an insufficient benefit the Company shall use its commercially reasonable
efforts to obtain and maintain a policy or policies of insurance with coverage having features as similar as practicable to those described above. 
  
 15. Contract Rights Not Exclusive. The rights to payment of Indemnifiable Amounts and advancement of Indemnifiable Expenses provided by this
Agreement shall be in addition to, but not exclusive of, any other rights which Indemnitee may have at any time under applicable law, the Company’s by-laws or certificate of incorporation, or any other agreement, vote of stockholders or
directors, or otherwise, both as to action in Indemnitee’s official capacity and as to action in any other capacity as a result of Indemnitee’s serving as a director, officer or agent of the Company. 
  
 16. Successors. This Agreement shall be (a) binding upon all
successors and assigns of the Company (including any transferee of all or a substantial portion of the business, stock and/or assets of the Company and any direct or indirect successor by merger or consolidation or otherwise by operation of law) and
(b) binding on and shall inure to the benefit of the heirs, personal representatives, executors and administrators of Indemnitee. This Agreement shall continue for the benefit of Indemnitee and such heirs, personal representatives, executors and
administrators after Indemnitee has ceased to have Corporate Status. 
  
 17. Subrogation. In the event of any payment of Indemnifiable Amounts under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of contribution or recovery of Indemnitee against other
persons, and Indemnitee shall take, at the request of the Company, all reasonable action necessary to secure such rights, including the execution of such documents as are necessary to enable the Company to bring suit to enforce such rights.

  
 18. Change in Law. To the extent that a change in
applicable law (whether by statute or judicial decision) shall permit broader indemnification than is provided under the terms of the by-laws of the Company and this Agreement, Indemnitee shall be entitled to such broader indemnification and this
Agreement shall be deemed to be amended to such extent. 
  
 19.
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. 
  
 20. Severability. Whenever possible, each provision of this Agreement shall be interpreted in such a manner as to be effective and valid under applicable law, but if any provision of this Agreement, or any
clause thereof, shall be determined by a court of competent 

  

 -7- 

 
jurisdiction to be illegal, invalid or unenforceable, in whole or in part, such provision or clause shall be limited or modified in its application to the
minimum extent necessary to make such provision or clause valid, legal and enforceable, and the remaining provisions and clauses of this Agreement shall remain fully enforceable and binding on the parties. 
  
 21. Indemnitee as Plaintiff. Except as provided in Section 12((c)) of
this Agreement and in this Section 21, Indemnitee shall not be entitled to payment of Indemnifiable Amounts or advancement of Indemnifiable Expenses with respect to any Proceeding brought by Indemnitee against the Company, any Entity which it
controls, any director, officer or agent thereof, or any third party. This Section shall not apply (i) to counterclaims or affirmative defenses asserted by Indemnitee in an action brought against Indemnitee, (ii) if the Company has consented to the
initiation of such Proceeding, (iii) if such indemnification is expressly regarded to be made by law or (iv) if such indemnification is provided by the Company, in its sole discretion, pursuant to the powers vested in the Company under the General
Corporation Laws of Delaware. In addition to the foregoing, the Company shall not be obligated pursuant to the terms of this Agreement to indemnify the Indemnitee (i) 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 by good faith or was frivolous; or (ii)
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. 
  
 22. Modifications and Waiver. Except as provided in Section 18 above with respect to changes in applicable law which
broaden the right of Indemnitee to be indemnified by the Company, no supplement, modification or amendment of this Agreement shall be binding unless executed in writing by each of the parties hereto. No waiver or any of the provisions of this
Agreement shall be deemed or shall constitute a waiver of any other provisions of this Agreement (whether or not similar), nor shall such waiver constitute a continuing waiver. 
  
 23. General Notices. All notices, requests, demands and other communications hereunder shall be in writing and shall
be deemed to have been duly given (a) when delivered by hand, (b) when transmitted by facsimile and receipt is acknowledged, or (c) if mailed by certified or registered mail with postage prepaid, on the third business day after the date on which it
is so mailed: 
  

	 	(i)	If to Indemnitee, to: 

  
 Peter M. Leddy 
 1600 Faraday Avenue 
 Carlsbad, CA 92008 
  

 -8- 

	 	(ii)	If to the Company, to 

  
 General Counsel 
 Invitrogen Corporation 
 1600 Faraday Avenue 
 Carlsbad, CA 92008 
  
 or to such other address as may have been furnished in the same manner by any party to the others. 
  
 24. Governing Law. This Agreement shall be governed by and construed and enforced under the laws of the State of
Delaware without giving effect to the provisions thereof relating to conflicts of law. 
  
 25. Consent to Jurisdiction. The Company hereby irrevocably and unconditionally consents to the jurisdiction of the courts of Delaware and the United States District Court in Delaware. The Company hereby
irrevocably and unconditionally waives any objection to the laying of venue of any Proceeding arising out of or relating to this Agreement in the courts of Delaware or the United States District Court in Delaware, and hereby irrevocably and
unconditionally waives and agrees not to plead or claim that any such Proceeding brought in any such court has been brought in an inconvenient forum. 
  
 26. Agreement Governs. This Agreement is to be deemed consistent wherever possible with relevant provisions of the Company’s by-laws and
certificate of incorporation; however, in the event of a conflict between this Agreement and such provisions, the provisions of this Agreement shall control. 
  
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
  

 -9- 

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

			
	INVITROGEN CORPORATION
		
	By:	 	 /s/ John A. Cottingha

	 	 	John A. Cottingham
	 	 	Sr. Vice President, General Counsel and Secretary
	
	INDEMNITEE
		
	 	 	 /s/ Peter M. Leddy

  

 -10-Summary Description of Compensation - Jeff  Wilkinson.

 Exhibit 10.1 
  
 Summary Description of Compensation – Jeff Wilkinson 
  
 The following sets forth a summary of the compensation provided for Jeff Wilkinson, Executive
Vice President and Chief Financial Officer of Texas United Bancshares, Inc. (the “Company”). Mr. Wilkinson’s employment arrangement as Executive Vice President and Chief Financial Officer with the Company is on at at-will basis. Mr.
Wilkinson’s initial base annual salary is $175,000. Beginning as of January 1, 2006, Mr. Wilkinson’s base annual salary will be increased to approximately $200,000. Mr. Wilkinson will be eligible to receive annual incentive bonuses based
upon Company performance at the discretion of the Board of Directors of the Company and available to other executive officers in similar positions with the Company. 
  
 The Company has agreed to grant Mr. Wilkinson 3,000 shares of restricted stock pursuant to the Company’s 2004 Stock Incentive Plan 90
days after Mr. Wilkinson’s start date of July 5, 2005. The vesting of such shares of restricted stock will be contingent upon Mr. Wilkinson’s continued employment with the Company for a period of five years. 
  
 Mr. Wilkinson is also eligible to receive vacation, paid time off, free account services and
other employee benefits generally available to other executive officers in similar positions with the Company, including medical and dental coverage and participation in the Company’s 401(k), Flex, Vision, Long Term Disability, Tuition
Reimbursement, Optional Life Insurance and 529 College Savings Plans and other similar arrangements. In addition, the Company has agreed to reimburse Mr. Wilkinson for life insurance and COBRA expenses up to $300 per month through November 1, 2005.
The Company has also agreed to reimburse Mr. Wilkinson for certain expenses incurred in his relocation to Texas. 
  
 In addition to the compensation arrangements described above, the Company has agreed to enter into an employment and change in control agreement with Mr. Wilkinson
pursuant to which Mr. Wilkinson will receive payment of two years base salary and bonus based on his prior two-year average upon a change in control of the Company and payment of one year base salary upon termination by the Company without cause.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00087-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00087-of-00352.parquet"}]]