Document:

Exhibit 10.7

 

ACCURIDE
CORPORATION

EMPLOYEE STOCK PURCHASE PLAN

 

ARTICLE I

PURPOSE, SCOPE AND ADMINISTRATION OF THE PLAN

 

1.1                                 Purpose and Scope. 
The purpose of the Accuride Corporation Employee Stock Purchase Plan the
(“Plan”) is to assist employees of Accuride
Corporation and its Designated Subsidiaries in acquiring a stock ownership
interest in the Company pursuant to a plan which is intended to qualify as an “employee
stock purchase plan” under Section 423 of the Internal Revenue Code of
1986, as amended.

 

1.2                                 Administration of Plan. 
The Plan shall be administered by the Committee.  The Committee shall have the power to make,
amend and repeal rules and regulations for the interpretation and
administration of the Plan consistent with the qualification of the Plan under Section 423
of the Code, and the Committee also is authorized to change the Offering
Periods, Offering Dates and Exercise Dates under the Plan by providing written
notice to all Employees prior to the date following which such changes will take
effect.  The Committee may delegate
administrative tasks under the Plan to one or more Officers of the
Company.  The Committee’s interpretation
and decisions with respect to the Plan shall be final and conclusive.

 

ARTICLE II

DEFINITIONS

 

Whenever the following
terms are used in this Plan, they shall have the meaning specified below unless
the context clearly indicates to the contrary. 
The singular pronoun shall include the plural where the context so
indicates.

 

2.1                                 “Board” shall mean the Board
of Directors of the Company.

 

2.2                                 “Code” shall mean the
Internal Revenue Code of 1986, as amended.

 

2.3                                 “Committee” shall mean the
Compensation Committee of the Board, which Committee shall administer the Plan
as provided in Section 1.2 above.

 

2.4                                 “Common Stock” shall mean
shares of common stock par value $0.01 per share of the Company.

 

2.5                                 “Company” shall mean Accuride
Corporation, a Delaware corporation.

 

2.6                                 “Designated Subsidiary” shall
mean a Subsidiary, the Employees of which are designated by the Board from time
to time as eligible to participate in the Plan.

 

 

2.7                                 “Effective Date” shall mean
the date on which a Registration Statement on Form S-8 becomes effective with
respect to the Plan.

 

2.8                                 “Eligible Employee” shall
mean an Employee who (a) is customarily scheduled to work at least 20 hours per
week and (b) whose customary employment is more than five (5) months in a
calendar year.  An Employee who is member
of a collective bargaining unit represented by a labor organization shall be an
Eligible Employee, unless the labor organization fails to accept coverage under
the Plan, in which case such Employee will not be an Eligible Employee.

 

2.9                                 “Employee” shall mean any
employee of the Company or a Designated Subsidiary.

 

2.10                           “Exercise Date” except for the
Initial Offering Period or as provided in Section 5.3, shall mean the last
Trading Day of each calendar quarter. 
For the Initial Offering Period, Exercise Date shall mean the last
Trading Day of the first full calendar quarter following the Effective Date.

 

2.11                           “Exchange Act” shall mean the
Securities Exchange Act of 1934, as amended.

 

2.12                           “Fair Market Value” of a
share of Common Stock as of a given date shall mean (i) the closing price of
the sale of Common Stock on the New York Stock Exchange (“NYSE”)
as of 4:00 P.M., New York time on such date or on the immediately preceding Trading
Day, or (ii) if the Common Stock is not traded on the NYSE, the fair market
value of a share of Common Stock as established by the Committee acting in good
faith.

 

2.13                           “Initial Offering Period”
shall mean the Offering Period commencing on the Effective Date and ending on
the last Trading Day of the first full calendar quarter after the Effective
Date.

 

2.14                           “Offering Date” shall mean
the first day of each calendar quarter; provided, however, that the Offering
Date for the Initial Offering Period shall be the Effective Date.

 

2.15                           “Offering Period” shall mean
the period beginning on an Offering Date and ending on the next succeeding
Exercise Date.

 

2.16                           “Officer” shall mean an
Employee of the Company who is either an executive officer or a member of the
management of the Company.

 

2.17                           “Option Price” shall mean the
purchase price of a share of Common Stock hereunder as provided in Section 4.1
below.

 

2.18                           “Participant” shall mean any
Eligible Employee who either is enrolled in the Plan pursuant to Section 3.2(a)
or elects to participate in the Plan.

 

2.19                           “Plan” shall mean this Accuride
Corporation 2001 Employee Stock Purchase Plan, as it may be amended from time
to time.

 

2

 

2.20                           “Plan Account” shall mean a
bookkeeping account established and maintained by the Company in the name of
each Participant.

 

2.21                           “Retirement” shall mean the
termination of employment of a Participant on or after attaining age 65.

 

2.22                           “Subsidiary” shall mean any
corporation of which the Company or a Subsidiary owns stock possessing 50% or
more of the total combined voting power of all classes of stock in the
corporation.  In addition “subsidiary” shall
mean any partnership or limited liability company (i) of
which the Company owns at least 50% of the equity interests and which has
elected to be taxed as a corporation for federal income tax purposes, or (ii)
which is a “disregarded entity” for federal income tax purposes.

 

2.23                           “Trading
Day” shall mean a day on which national stock exchanges and the Nasdaq system are open for trading.

 

ARTICLE III

PARTICIPATION

 

3.1                                 Eligibility. 
An Eligible Employee may participate in the Plan if immediately after the
applicable Offering Date, that Employee would not be deemed for purposes of Section 423(b)(3)
of the Code to possess 5% or more of the total combined voting power or value
of all classes of stock of the Company or any Subsidiary.  For purposes of this Section, the rules of Section 424(d)
of the Code with regard to the attribution of stock ownership shall apply in
determining the stock ownership of an individual, and stock which an Eligible
Employee may purchase under outstanding options shall be treated as stock owned
by the Eligible Employee.  An Employee
who becomes an Eligible Employee during an Offering Period shall not be
permitted to participate in that Offering Period, but shall be allowed to
participate commencing with the next following Offering Period.

 

3.2                                 Election to Participate; Payroll
Deductions

 

(a)                                  Except as provided in Section 3.3,
an Eligible Employee may participate in the Plan only by means of payroll
deduction.  An Eligible Employee may
elect to participate in the Plan by delivering to the Company, at such time as
the Committee or the Company shall designate prior to the Offering Date on
which such Eligible Employee’s participation is to commence, a written payroll
deduction authorization on a form prescribed by the Company such as the Subscription
Agreement attached hereto as Exhibit A.  A Participant’s participation in the Plan shall
continue in effect for all subsequent Offering Periods until otherwise modified
or revoked by the Participant in accordance with Section 6.1.

 

(b)                                 Notwithstanding Sections 3.2(a) or
6.1, all Eligible Employees on the Effective Date shall be Participants in the
Plan and will be deemed to have elected for the Initial Offering Period a
payroll deduction in the minimum amount authorized by Section 3.2(c).  However, if a Participant does not return a
Subscription Agreement to the Company by the tenth business day following the
Effective Date, then such Participant will automatically be deemed to have
elected to cease all payroll deductions for the Initial Offering Period and to
withdraw from the Plan pursuant to Section 6.1(b) and (c).

 

3

 

(c)                                  Payroll deductions must equal at
least five dollars ($5) per week or ten dollars ($10.00) per semi-monthly pay
period and must be expressed as a fixed dollar amount, subject to the
provisions of Sections 4.2 and 4.3 below. 
Amounts deducted from a Participant’s compensation pursuant to this Section 3.2
shall be credited to the Participant’s Plan Account.

 

3.3                                 Leave of Absence. 
During leaves of absence approved by the Company meeting the
requirements of Regulation Section 1.421-7(h)(2) under the Code, a
Participant may continue participation in the Plan by making cash payments to
the Company on his or her normal payday equal to his or her authorized payroll
deduction.

 

ARTICLE IV

OPTION GRANT AND PURCHASE OF SHARES

 

4.1                                 Grant of Option. 
Subject to the limitations to Section 4.4, each Participant
participating in such Offering Period shall be granted an option to purchase on
the Exercise Date for such Offering Period (at the applicable Option Price) up
to a number of shares of Common Stock determined by dividing such Participant’s
payroll deductions accumulated prior to such Exercise Date and retained in the
Participant’s Plan Account on such Exercise Date by the applicable Purchase
Price.  The option shall expire on the
last day of the Offering Period.

 

4.2                                 Option Price. 
The Option Price per share of the Common Stock sold to Participants
hereunder shall be 85% of the Fair Market Value of such share on either the
Offering Date or the Exercise Date of the Offering Period, whichever is lower,
but in no event shall the Option Price per share be less than the par value per
share ($0.01) of the Common Stock.

 

4.3                                 Purchase of Shares

 

(a)                                  On each Exercise Date on which he or
she is employed, each Participant will automatically and without any action on
his or her part be deemed to have exercised his or her option to purchase at
the Option Price the largest number of whole shares (and fractional shares, if
available for purchase) of Common Stock which can be purchased with the amount
in the Participant’s Plan Account.  The
balance, if any, remaining in the Participant’s Plan Account (after exercise of
his or her option) as of an Exercise Date shall be carried forward to the next
Offering Period, unless the Participant has elected to withdraw from the Plan
pursuant to Section 6.1 below.

 

(b)                                 As soon as practicable following
each Exercise Date, the number of shares purchased by such Participant pursuant
to subsection (a) above will be delivered, in the Company’s sole
discretion, to either (i) the Participant, or (ii) an account established in
the Participant’s name at a stock brokerage or other financial services firm
designated by the Company.  If the
Company is required to obtain from any commission or agency authority to issue
any such shares of Common Stock, the Company will seek to obtain such
authority.  Inability of the Company to
obtain from any such commission or agency authority which counsel for the
Company deems necessary for the lawful issuance of any such shares shall
relieve the Company from liability to any Participant except to refund to him
or her the amount withheld.

 

4

 

(c)                                  A Participant shall have the right
at any time to request in writing a certificate or certificates for all or a
portion of the whole shares of Common Stock purchased hereunder.  Upon receipt of a Participant’s written
request for any such certificate, the Company shall (or shall cause its agent
to), deliver any such certificate to the Participant as soon as practicable
thereafter.

 

4.4                                 Limitations on Purchase. 
No Employee shall be granted an option under the Plan which permits his
or her rights to purchase Common Stock under the Plan or any other employee
stock purchase plan of the Company or any of its Subsidiaries to accrue at a
rate which exceeds $25,000 (as measured by the Fair Market Value of such Common
Stock at the time the option is granted) for each calendar year such option is
outstanding.  For purposes of this Section 4.4,
the right to purchase Common Stock under an option accrues when the option (or
any portion thereof) becomes exercisable, and the right to purchase Common
Stock which has accrued under one option under the
Plan may not be carried over to any other option.  This limitation shall be applied in
accordance with Section 423(b)(8) of the Code and
the Treasury Regulations issued thereunder.

 

4.5                                 Transferability of Rights. 
An option granted under the Plan shall not be transferable and is
exercisable only by the Participant.  No option or interest or right to the option
shall be available to pay off any debts, contracts or engagements of the
Participant or his or her successors in interest or shall be subject to
disposition by pledge, encumbrance, assignment or any other means whether such
disposition be voluntary or involuntary or by operation of law by judgment,
levy, attachment, garnishment or any other legal or equitable proceedings
(including bankruptcy), and any attempt at disposition of the option shall have
no effect.

 

ARTICLE V

PROVISIONS RELATING TO COMMON STOCK

 

5.1                                 Common Stock Reserved. 
Subject to adjustment as provided in Section 5.2, the maximum
number of shares of Common Stock that shall be made available for sale under
this Plan shall be six hundred fifty three thousand five hundred ninety-five (653,595).  Shares of Common Stock made available
for sale under this Plan may be authorized but unissued or reacquired shares
reserved for issuance under this Plan.

 

5.2                                 Adjustment for Changes in Common
Stock.  If adjustments are made in the number of
outstanding shares of Common Stock or the shares are exchanged for a different
class of stock of the Company by reason of stock dividend, stock split or other
subdivision, the Committee shall make appropriate adjustments in (a) the number
and class of shares or other securities that may be reserved for purchase
hereunder, and (b) the Option Price of outstanding options.

 

5.3                                 Merger, Acquisition or Liquidation. 
In the event of the merger or consolidation of the Company into another
corporation, the acquisition by another corporation of all or substantially all
of the Company’s assets or 50% or more of the Company’s then outstanding voting
stock or the liquidation or dissolution of the Company, the Exercise Date with
respect to outstanding options shall be the business day immediately preceding
the effective date of such merger, consolidation, acquisition, liquidation or
dissolution unless the Committee shall,

 

5

 

in its sole discretion, provide for
the assumption or substitution of such options in a manner complying with Section 424(a)
of the Code.

 

5.4                                 Insufficient Shares. 
If the aggregate funds available for the purchase of Common Stock on any
Exercise Date would cause an issuance of shares in excess of the number
provided for in Section 5.1 above, (a) the Committee shall
proportionately reduce the number of shares that would otherwise be purchased by
each Participant in order to eliminate such excess, and (b) the Plan shall
automatically terminate immediately after such Exercise Date.

 

5.5                                 Rights as Stockholders. 
Except as required by Section 3.1, with respect to shares of Common
Stock subject to an option, a Participant shall not be deemed to be a
stockholder and shall not have any of the rights or privileges of a
stockholder.  A Participant shall have
the rights and privileges of a stockholder when, but not until, a certificate
has been issued to him or her following exercise of his or her option.

 

ARTICLE VI

TERMINATION OF PARTICIPATION

 

6.1                                 Alteration or Cessation of
Contributions; Voluntary Withdrawal

 

(a)                                  A Participant may cease payroll
deductions or may increase or decrease the rate of his or her payroll
deductions during the Offering Period by delivering written notice of such
change in payroll deduction rate to the Company using the form attached hereto
as Exhibit B.  A payroll
deduction rate change election shall not be permitted more than once per
Offering Period.

 

(b)                                 If a Participant ceases payroll
deductions, no additional purchases of Common Stock shall be made on his or her
behalf unless he or she elects that payroll deductions resume.  A Participant who
ceases contributions to the Plan during any Offering Period shall not be
permitted to resume contributions to the Plan during that Offering Period.  Upon any cessation of payroll deductions, the
Participant may elect to withdraw from the Plan pursuant to subsection (c)
below.  Notwithstanding the foregoing, to
the extent necessary to comply with Section 423(b)(8) of the Code and Section 4.4
of the Plan, a Participant’s payroll deductions may be decreased to zero
percent (0%) at any time during an Offering Period.

 

(c)                                  A Participant may withdraw from the
Plan at any time by written notice to the Secretary of the Company prior to the
close of business on an Exercise Date, using the form attached hereto as Exhibit
B.  As soon as administratively
practicable after the notice of withdrawal is delivered, the Company shall
refund the entire amount, if any, in a Participant’s Plan Account to him or
her, at which time the Participant’s interest in the Plan will terminate.  Upon receipt of a notice of withdrawal from
the Plan, the Participant’s payroll deduction authorization and his or her
option to purchase under the Plan shall terminate.  Any Eligible Employee who withdraws from the
Plan may again become a Participant in accordance with Section 3.2 above.

 

6.2                                 Termination of Eligibility

 

(a)                                  If a Participant ceases to be
eligible under Section 3.1 above for any reason or no longer qualifies as
an “Eligible Employee,” the Participant’s payroll deduction

 

6

 

authorization
and his or her option to purchase under the Plan will automatically terminate
and the amount in such Participant’s Plan Account will be refunded to the
Participant or his or her designated beneficiary or estate as soon as
administratively practicable following of his or her termination of employment
or other cessation of eligibility. 
Notwithstanding the foregoing, a Participant terminating employment due
to Retirement shall be permitted to elect the purchase of Common Stock on the
Exercise Date coincident with or next following the Participant’s date of
Retirement.

 

(b)                                 Upon payment by the Company to the
Participant or his or her beneficiary or estate of the remaining balance, if
any, in Participant’s Plan Account, the Participant’s interest in the Plan
shall terminate.

 

ARTICLE VII

GENERAL PROVISIONS

 

7.1                                 Condition of Employment. 
Neither the creation of the Plan nor an Employee’s participation therein
shall be deemed to create a contract of employment, any right of continued
employment or in any way affect the right of the Company or a Subsidiary to
terminate an Employee at any time with or without cause.

 

7.2                                 Amendment of the Plan

 

(a)                                  The Board may, in its sole
discretion, amend, suspend or terminate the Plan at any time and from time to
time; provided, however, that without approval of the Company’s stockholders
given within 12 months before or after action by the Board, the Plan may not be
amended to increase the maximum number of shares subject to the Plan or change
the designation or class of Eligible Employees.

 

(b)                                 Upon termination of the Plan, the
balance in each Participant’s Plan Account shall be refunded as soon as
administratively practicable following such termination.

 

7.3                                 Use of Funds; No Interest Paid. 
All funds received by the Company by reason of purchase of Common Stock
under this Plan will be included in the general funds of the Company free of
any trust or other restriction and may be used for any corporate purpose.  No interest will be paid to any Participant
or credited under the Plan.

 

7.4                                 Term; Approval by Stockholders. 
The Plan shall terminate on the tenth anniversary of the date of its
initial approval by the stockholders of the Company, unless earlier terminated
by action of the Board.  No option may be
granted during any period of suspension of the Plan or after termination of the
Plan.  The Plan will be submitted for the
approval of the Company’s stockholders within 12 months after the date of the
Board’s initial adoption of the Plan. 
Options may be granted prior to such stockholder approval; provided,
however, that such options shall not be exercisable prior to the time when the
Plan is approved by the stockholders; provided further that if such approval
has not been obtained by the end of said 12-month period, all options
previously granted under the Plan shall thereupon be canceled and become null
and void.

 

7

 

7.5                                 Effect Upon
Other Plans.  The adoption of the Plan shall not affect any
other compensation or incentive plans in effect for the Company or any Subsidiary.  Nothing in this Plan shall be construed to
limit the right of the Company or any Subsidiary (a) to establish any other
forms of incentives or compensation for Employees of the Company or any
Subsidiary, or (b) to grant or assume options otherwise than under this Plan in
connection with any proper corporate purpose, including, but not by way of
limitation, the grant or assumption of options in connection with the
acquisition, by purchase, lease, merger, consolidation or otherwise, of the
business, stock or assets of any corporation, firm or association.

 

7.6                                 Conformity to Securities Laws. 
Notwithstanding any other provision of this Plan, this Plan and the
participation in this Plan by any individual who is then subject to Section 16
of the Exchange Act shall be subject to any additional limitations set forth in
any applicable exemption rule under Section 16 of the Exchange Act
(including any amendment to Rule 16b-3 of the Exchange Act) that are
requirements for the application of such exemptive rule.  To the extent permitted by applicable law,
the Plan shall be deemed amended to the extent necessary to conform to such
applicable exemptive rule.

 

7.7                                 Tax Withholding. 
The Company shall be entitled to require payment in cash or deduction
from other compensation payable to each Participant of any sums required by
federal, state or local tax law to be withheld with respect to any purchase of
shares of Common Stock under the Plan or any sale of such shares.

 

7.8                                 Information Statement. 
The Company shall provide each Participant whose Option is exercised an
information statement in accordance with Section 6039(a) of the Code and
the Regulations thereunder.

 

7.9                                 Governing Law. 
The Plan and all rights and obligations thereunder shall be construed
and enforced in accordance with the laws of the State of Delaware.

 

* * * * * *

 

I hereby certify that the
foregoing Accuride Corporation Employee Stock Purchase Plan was duly adopted
and approved by the Board of Directors of Accuride Corporation on                         
      , 2005.

 

I hereby certify that the foregoing Accuride
Corporation Employee Stock Purchase Plan was duly approved by the stockholders
of Accuride Corporation on                         
      , 2005.

 

Executed on this        
day of                         
, 2005.

 

 

	
   

  	
   

  
	
   

  	
  Secretary

  

 

8

 

EXHIBIT
A

 

ACCURIDE
CORPORATION

EMPLOYEE STOCK PURCHASE PLAN

SUBSCRIPTION AGREEMENT

 

	
  New Election                
  

  
	
  Change of Election                

  

 

1.                                       I,                                 ,
hereby elect to participate in the Accuride Corporation Employee Stock Purchase
Plan (the “Plan”) commencing for the Offering
Period                           
       , 2005 to                                  ,
2005, and for each Offering Period thereafter until this election is revoked
and subscribe to purchase shares of the Company’s Common Stock in accordance
with this Subscription Agreement and the Plan.

 

2.                                       I
elect to have payroll deductions in the amount of $                                 
applied to this purchase.  I understand
that this amount must not be less than ten dollars ($10.00).

 

3.                                       I
hereby authorize payroll deductions from each paycheck during the Offering
Period at the rate stated in Item 2 of this Subscription Agreement.  I understand that all payroll deductions made
by me shall be credited to my account under the Plan, and that I may not make
any additional payments into such account. 
I understand that all payments made by me shall be accumulated for the
purchase of shares of Common Stock at the applicable purchase price determined
in accordance with the Plan.  I further
understand that, except as otherwise set forth in the Plan, shares will be
purchased for me automatically on the Exercise Date of each Offering Period
unless I otherwise withdraw from the Plan by giving written notice to the
Company for such purpose.

 

4.                                       I
understand that I may discontinue at any time prior to an Exercise Date my
participation in the Plan as provided in Section 6.1 of the Plan.  Further, I may change the rate of deductions
for payroll periods during an Offering Period by filing a new Subscription
Agreement, and any such change will be permitted only once per Offering
Period.  In addition, I acknowledge that,
unless I discontinue my participation in the Plan as provided in Section 6.1
of the Plan, my election will continue to be effective for each successive
Offering Period.

 

5.                                       I
have received a copy of the Company’s most recent description of the Plan and a
copy of the complete “Accuride Corporation Employee Stock Purchase Plan.”  I understand that my participation in the Plan
is in all respects subject to the terms of the Plan.

 

6.                                       Shares
purchased for me under the Plan should be issued in the name(s) of (name of
employee or employee and spouse only):

 

 

 

7.                                       I
hereby agree to be bound by the terms of the Plan.  The effectiveness of this Subscription
Agreement is dependent upon my eligibility to participate in the Plan.

 

	
   

  	
   

  
	
  Dated:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Signature of
  Employee

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Social Security
  Number

  
					

 

 

EXHIBIT
B

 

ACCURIDE
CORPORATION

 

EMPLOYEE
STOCK PURCHASE PLAN

 

NOTICE
OF WITHDRAWAL

 

I,                                  ,
hereby elect to cease contributions to the Accuride Corporation Employee Stock
Purchase Plan (the “Plan”) for the Offering
Period that began on                                  ,
              .  I hereby elect to:

 

o                                    withdraw from participation in the Plan and have all
contributions credited to my Plan Account paid to me within [       ] days of receipt by the Company of this Notice of
Withdrawal.  In addition, I understand
that my option for the current period will automatically terminate, and that no
further contributions for the purchase of shares can be made by me during the
Offering Period; or

 

o                                    withdraw from participation in the Plan and have the balance
of my Plan Account held in the Plan for the purchase of Common Stock on the
Exercise Date next following my resumption of participation, and to have any
then remaining balance paid to me.

 

The undersigned further
understands and agrees that he or she shall be eligible to participate in
succeeding offering periods only by delivering to the Company a new
Subscription Agreement.

 

	
   

  	
   

  
	
  Dated:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Signature of
  Employee

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Social Security
  NumberExhibit 10.36

 

ACCURIDE
CORPORATION

 

INDEMNIFICATION
AGREEMENT

 

This Indemnification Agreement (the “Agreement”)
is made as of                        ,
200     by and between Accuride Corporation, a Delaware
corporation (the “Company”), and                                  
(the “Indemnitee”).

 

RECITALS

 

The Company and Indemnitee recognize the increasing
difficulty in obtaining liability insurance for directors, officers and key
employees, the significant increases in the cost of such insurance and the general
reductions in the coverage of such insurance. 
The Company and Indemnitee further recognize the substantial increase in
corporate litigation in general, subjecting directors, officers and key
employees to expensive litigation risks at the same time as the availability
and coverage of liability insurance has been severely limited.  Indemnitee does not regard the current
protection available as adequate under the present circumstances, and
Indemnitee and agents of the Company may not be willing to continue to serve as
agents of the Company without additional protection.  The Company desires to attract and retain the
services of highly qualified individuals, such as Indemnitee, and to indemnify
its directors, officers and key employees so as to provide them with the
maximum protection permitted by law.

 

AGREEMENT

 

In consideration of the mutual promises made in this
Agreement, and for other good and valuable consideration, receipt of which is
hereby acknowledged, the Company and Indemnitee hereby agree as follows:

 

1.                                       Indemnification.

 

(a)                                  Third Party Proceedings.  The Company shall indemnify Indemnitee if
Indemnitee is or was a party or is threatened to be made a party to any
threatened, pending or completed action, suit or proceeding, whether civil,
criminal, administrative or investigative (other than an action by or in the
right of the Company) by reason of the fact that Indemnitee is or was a
director, officer, employee or agent of the Company, or any subsidiary of the
Company, by reason of any action or inaction on the part of Indemnitee while an
officer or director or by reason of the fact that Indemnitee is or was serving
at the request of the Company as a director, officer, employee or agent of
another corporation, partnership, joint venture, trust or other enterprise,
against expenses (including attorneys’ fees), judgments, fines and amounts paid
in settlement (if such settlement is approved in advance by the Company, which
approval shall not be unreasonably withheld) actually and reasonably incurred by
Indemnitee in connection with

 

 

such action, suit or
proceeding if Indemnitee acted in good faith and in a manner Indemnitee
reasonably believed to be in or not opposed to the best interests of the
Company, and, with respect to any criminal action or proceeding, had no
reasonable cause to believe Indemnitee’s conduct was unlawful.  The termination of any action, suit or
proceeding by judgment, order, settlement, conviction, or upon a plea of nolo
contendere or its equivalent, shall not, of itself, 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, that Indemnitee
had reasonable cause to believe that Indemnitee’s conduct was unlawful.

 

(b)                                 Proceedings By or in the Right of the Company.  The Company shall indemnify Indemnitee if
Indemnitee was or is a party or is threatened to be made a party to any
threatened, pending or completed action or proceeding by or in the right of the
Company or any subsidiary of the Company to procure a judgment in its favor by
reason of the fact that Indemnitee is or was a director, officer, employee or
agent of the Company, or any subsidiary of the Company, by reason of any action
or inaction on the part of Indemnitee while an officer or director or by reason
of the fact that Indemnitee is or was serving at the request of the Company as
a director, officer, employee or agent of another corporation, partnership,
joint venture, trust or other enterprise, against expenses (including attorneys’
fees) and, to the fullest extent permitted by law, amounts paid in settlement
(if such settlement is approved in advance by the Company, which approval shall
not be unreasonably withheld), in each case to the extent actually and
reasonably incurred by Indemnitee in connection with the defense or settlement
of such action or suit if Indemnitee acted in good faith and in a manner
Indemnitee reasonably believed to be in or not opposed to the best interests of
the Company and its stockholders, except that no indemnification shall be made
in respect of any claim, issue or matter as to which Indemnitee shall have been
finally adjudicated by court order or judgment to be liable to the Company in
the performance of Indemnitee’s duty to the Company and its stockholders unless
and only to the extent that the court in which such action or proceeding is or
was pending shall determine upon application that, in view of all the circumstances
of the case, Indemnitee is fairly and reasonably entitled to indemnity for such
expenses which such court shall deem proper.

 

(c)                                  Mandatory Payment of Expenses.  To the extent that Indemnitee has been
successful on the merits or otherwise in defense of any action, suit or
proceeding referred to in Section 1(a) or Section 1(b) or the defense
of any claim, issue or matter therein, Indemnitee shall be indemnified against
expenses (including attorneys’ fees) actually and reasonably incurred by
Indemnitee in connection therewith.

 

2.                                       No Employment Rights.  Nothing contained in this Agreement is
intended to create in Indemnitee any right to continued employment.

 

3.                                       Expenses; Indemnification Procedure.

 

(a)                                  Advancement of Expenses.  The Company shall advance all expenses
incurred by Indemnitee in connection with the investigation, defense,
settlement or appeal of any civil or criminal action, suit or proceeding
referred to in Section l(a) or Section 1(b) hereof (including amounts
actually paid in settlement of any such action, suit or proceeding).  Indemnitee hereby undertakes to repay such
amounts advanced only if, and to the extent that, it shall

 

2

 

ultimately be determined
that Indemnitee is not entitled to be indemnified by the Company as authorized
hereby.

 

(b)                                 Notice/Cooperation by Indemnitee.  Indemnitee shall, as a condition precedent to
his or her right to be indemnified under this Agreement, give the Company
notice in writing as soon as practicable of any claim made against Indemnitee
for which indemnification will or could be sought under this Agreement.  Notice to the Company shall be directed to
the Chief Executive Officer of the Company and shall be given in accordance
with the provisions of Section 12(d) below.  In addition, Indemnitee shall give the
Company such information and cooperation as it may reasonably require and as
shall be within Indemnitee’s power.

 

(c)                                  Procedure.  Any indemnification and advances provided for
in Section 1 and this Section 3 shall be made no later than twenty
(20) days after receipt of the written request of Indemnitee.  If a claim under this Agreement, under any
statute, or under any provision of the Company’s Certificate of Incorporation
or Bylaws providing for indemnification, is not paid in full by the Company
within twenty (20) days after a written request for payment thereof has first
been received by the Company, Indemnitee may, but need not, at any time
thereafter bring an action against the Company to recover the unpaid amount of
the claim and, subject to Section 11 of this Agreement, Indemnitee shall
also be entitled to be paid for the expenses (including attorneys’ fees) of
bringing such action.  It shall be a
defense to any such action (other than an action brought to enforce a claim for
expenses incurred in connection with any action, suit or proceeding in advance
of its final disposition) that Indemnitee has not met the standards of conduct
which make it permissible under applicable law for the Company to indemnify
Indemnitee for the amount claimed, but the burden of proving such defense shall
be on the Company and Indemnitee shall be entitled to receive interim payments
of expenses pursuant to Section 3(a) unless and until such defense may be
finally adjudicated by court order or judgment from which no further right of
appeal exists.  It is the parties’
intention that if the Company contests Indemnitee’s right to indemnification,
the question of Indemnitee’s right to indemnification shall be for the court to
decide, and neither the failure of the Company (including its Board of
Directors, any committee or subgroup of the Board of Directors, independent
legal counsel, or its stockholders) to have made a determination that
indemnification of Indemnitee is proper in the circumstances because Indemnitee
has met the applicable standard of conduct required by applicable law, nor an
actual determination by the Company (including its Board of Directors, any
committee or subgroup of the Board of Directors, independent legal counsel, or
its stockholders) that Indemnitee has not met such applicable standard of
conduct, shall create a presumption that Indemnitee has or has not met the
applicable standard of conduct.

 

(d)                                 Notice to Insurers.  If, at the time of the receipt of a notice of
a claim pursuant to Section 3(b) hereof, the Company has director and
officer liability 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.

 

(e)                                  Selection of Counsel.  In the event the Company shall be obligated
under Section 3(a) hereof to pay the expenses of any proceeding against
Indemnitee, the Company, if

 

3

 

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

 

4.                                       Additional Indemnification Rights; Nonexclusivity.

 

(a)                                  Scope.  Notwithstanding any other provision of this
Agreement, the Company hereby agrees to indemnify the Indemnitee to the fullest
extent permitted by law, notwithstanding that such indemnification is not
specifically authorized by the other provisions of this Agreement, the Company’s
Certificate of Incorporation, the Company’s Bylaws or by statute.  In the event of any change, after the date of
this Agreement, in any applicable law, statute, or rule which expands the right
of a Delaware corporation to indemnify a member of its board of directors or an
officer, such changes shall be deemed to be within the purview of Indemnitee’s
rights and the Company’s obligations under this Agreement.  In the event of any change in any applicable
law, statute or rule which narrows the right of a Delaware corporation to
indemnify a member of its board of directors or an officer, such changes, to
the extent not otherwise required by such law, statute or rule to be applied to
this Agreement shall have no effect on this Agreement or the parties’ rights
and obligations hereunder.

 

(b)                                 Nonexclusivity.  The indemnification provided by this
Agreement shall not be deemed exclusive of any rights to which Indemnitee may
be entitled under the Company’s Certificate of Incorporation, its Bylaws, any
agreement, any vote of stockholders or disinterested members of the Company’s
Board of Directors, the General Corporation Law of the State of Delaware, or
otherwise, both as to action in Indemnitee’s official capacity and as to action
in another capacity while holding such office. 
The indemnification provided under this Agreement shall continue as to
Indemnitee for any action taken or not taken while serving in an indemnified
capacity even though he or she may have ceased to serve in any such capacity at
the time of any action, suit or other covered proceeding.

 

5.                                       Partial Indemnification.  If Indemnitee is entitled under any provision
of this Agreement to indemnification by the Company for some or a portion of
the expenses, judgments, fines or penalties actually or reasonably incurred in
the investigation, defense, appeal or settlement of any civil or criminal
action, suit or proceeding, but not, however, for the total amount thereof, the
Company shall nevertheless indemnify Indemnitee for the portion of such
expenses, judgments,  fines or penalties
to which Indemnitee is entitled.

 

6.                                       Mutual Acknowledgment.  Both the Company and Indemnitee acknowledge
that in certain instances, Federal law or public policy may override applicable
state law and prohibit

 

4

 

the Company from
indemnifying its directors and officers under this Agreement or otherwise.  For example, the Company and Indemnitee
acknowledge that the Securities and Exchange Commission (the “SEC”) has
taken the position that indemnification is not permissible for liabilities
arising under certain federal securities laws, and federal legislation
prohibits indemnification for certain ERISA violations. Indemnitee understands
and acknowledges that the Company has undertaken or may be required in the
future to undertake with the SEC to submit the question of indemnification to a
court in certain circumstances for a determination of the Company’s right under
public policy to indemnify Indemnitee.

 

7.                                       Officer and Director Liability Insurance.  The Company shall, from time to time, make
the good faith determination whether or not it is practicable for the Company
to obtain and maintain a policy or policies of insurance with reputable
insurance companies providing the officers and directors of the Company with
coverage for losses from wrongful acts, or to ensure the Company’s performance
of its indemnification obligations under this Agreement. Among other
considerations, the Company will weigh the costs of obtaining such insurance
coverage against the protection afforded by such coverage.  In all policies of director and officer
liability insurance, Indemnitee shall be named as an insured in such a manner
as to provide Indemnitee 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 officers, if Indemnitee is not a director of the Company
but is an officer; or of the Company’s key employees, if Indemnitee is not an
officer or director but is a key employee. 
Notwithstanding the foregoing, the Company shall have no obligation to
obtain or maintain such insurance if the Company 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, if the
coverage provided by such insurance is limited by exclusions so as to provide
an insufficient benefit, or if Indemnitee is covered by similar insurance
maintained by a parent or subsidiary of the Company.

 

8.                                       Severability.  Nothing in this Agreement is intended to
require or shall be construed as requiring the Company to do or fail to do any
act in violation of applicable law.  The
Company’s inability, pursuant to court order, to perform its obligations under
this Agreement shall not constitute a breach of this Agreement.  The provisions of this Agreement shall be severable
as provided in this Section 8.  If
this Agreement or any portion hereof shall be invalidated on any ground by any
court of competent jurisdiction, then the Company shall nevertheless indemnify
Indemnitee to the full extent permitted by any applicable portion of this
Agreement that shall not have been invalidated, and the balance of this
Agreement not so invalidated shall be enforceable in accordance with its terms.

 

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
Indemnitee with respect to proceedings or claims initiated or brought
voluntarily by Indemnitee and not by way of defense, except with respect to
proceedings 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
of the Delaware General Corporation Law, but such indemnification or
advancement of expenses may be provided by the Company in specific cases if the
Board of Directors finds it to be appropriate;

 

5

 

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

 

(c)                                  Insured Claims.  To indemnify Indemnitee for expenses or
liabilities of any type whatsoever (including, but not limited to, judgments,
fines, ERISA excise taxes or penalties, and amounts paid in settlement) to the
extent such expenses or liabilities have been paid directly to Indemnitee by an
insurance carrier under a policy of officers’ and directors’ liability
insurance maintained by the Company; or

 

(d)                                 Claims under Section 16(b).  To indemnify Indemnitee for expenses or the
payment of profits arising from the purchase and sale by Indemnitee of
securities in violation of Section 16(b) of the Securities Exchange Act of
1934, as amended, or any similar successor statute.

 

10.                                 Construction of Certain Phrases.

 

(a)                                  For
purposes of this Agreement, references to the “Company” shall include,
in addition to the resulting corporation, any constituent corporation
(including any constituent of a constituent) absorbed in a consolidation or
merger which, if its separate existence had continued, would have had power and
authority to indemnify its directors, officers, and employees or agents, so
that if Indemnitee is or was a director, officer, employee or agent of such
constituent corporation, or is or was serving at the request of such constituent
corporation as a director, officer, employee or agent of another corporation,
partnership, joint venture, trust or other enterprise, Indemnitee shall stand
in the same position under the provisions of this Agreement with respect to the
resulting or surviving corporation as Indemnitee would have with respect to
such constituent corporation if its separate existence had continued.

 

(b)                                 For
purposes of this Agreement, references to “other enterprises” shall
include employee benefit plans; references to “fines” shall include any
excise taxes assessed on Indemnitee with respect to an employee benefit plan;
and references to “serving at the request of the Company” shall include
any service as a director, officer, employee or agent of the Company 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 if Indemnitee acted in good faith and in a manner Indemnitee reasonably
believed to be in the interest of the participants and beneficiaries of an
employee benefit plan, Indemnitee shall be deemed to have acted in a manner “not
opposed to the best interests of the Company” as referred to in this
Agreement.

 

11.                                 Attorneys’ Fees.  In the event that any action is instituted by
Indemnitee under this Agreement to enforce or interpret any of the terms
hereof, Indemnitee shall be entitled to be paid all court costs and expenses,
including reasonable attorneys’ fees, incurred by Indemnitee with respect to
such action, unless as a part of such action, the court of competent
jurisdiction determines that each of the material assertions made by Indemnitee
as a basis for such action were not made in good faith or were frivolous.  In the event of an action instituted by or in
the name of the Company under this Agreement or to enforce or interpret any of
the terms of this

 

6

 

Agreement, Indemnitee
shall be entitled to be paid all court costs and expenses, including attorneys’
fees, incurred by Indemnitee in defense of such action (including with respect
to Indemnitee’s counterclaims and cross-claims made in such action), unless as
a part of such action the court determines that each of Indemnitee’s material
defenses to such action were made in bad faith or were frivolous.

 

12.                                 Miscellaneous.

 

(a)                                  Governing Law.  This Agreement and all acts and transactions
pursuant hereto and the rights and obligations of the parties hereto shall be
governed, construed and interpreted in accordance with the laws of the State of
Delaware, without giving effect to principles of conflict of law.

 

(b)                                 Entire Agreement; Enforcement of Rights.  This Agreement sets forth the entire
agreement and understanding of the parties relating to the subject matter
herein and merges all prior discussions between them.  No modification of or amendment to this
Agreement, nor any waiver of any rights under this Agreement, shall be
effective unless in writing signed by the parties to this Agreement.  The failure by either party to enforce any
rights under this Agreement shall not be construed as a waiver of any rights of
such party.

 

(c)                                  Construction.  This Agreement is the result of negotiations
between and has been reviewed by each of the parties hereto and their
respective counsel, if any;  accordingly,
this Agreement shall be deemed to be the product of all of the parties hereto,
and no ambiguity shall be construed in favor of or against any one of the
parties hereto.

 

(d)                                 Notices.  Any notice, demand or request required or
permitted to be given under this Agreement shall be in writing and shall be
deemed sufficient when delivered personally or sent by telegram or forty-eight
(48) hours after being deposited in the U.S. mail, as certified or registered mail,
with postage prepaid, and addressed to the party to be notified at such party’s
address as set forth below or as subsequently modified by written notice.

 

(e)                                  Counterparts.  This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original and all of which
together shall constitute one instrument.

 

(f)                                    Successors and Assigns.  This Agreement shall be binding upon the
Company and its successors and assigns, and inure to the benefit of Indemnitee
and Indemnitee’s heirs, legal representatives and assigns.

 

(g)                                 Subrogation.  In the event of payment under this Agreement,
the Company shall be subrogated to the extent of such payment to all of the
rights of recovery of Indemnitee, who shall execute all documents required and
shall do all acts that may be necessary to secure such rights and to enable the
Company to effectively bring suit to enforce such rights.

 

[Signature Page Follows]

 

7

 

The parties hereto have executed this Agreement as of
the day and year set forth on the first page of this Agreement.

 

	
   

  	
  ACCURIDE CORPORATION

  
	
   

  	
   

  
	
   

  	
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  AGREED TO AND ACCEPTED:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
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