Document:

Exhibit 4.3

 

 

 

Genworth Life and Annuity Insurance Company

 

Funding Agreement

 

POLICYHOLDER:  Genworth Global Funding Trust 2008-14, its successors and permitted
assignees

 

POLICY NUMBER: GS-R6030

 

EFFECTIVE DATE: April 10,
2008

 

ISSUE STATE: 
Virginia

 

Genworth Life and Annuity
Insurance Company (“GLAIC”) (which term includes its successors and permitted
assignees) and the Policyholder hereby agree to the terms of this funding
agreement (this “Policy”).  This Policy,
including the attached Accumulation Fund Schedule, and any amendments thereto,
constitutes the entire contract between GLAIC and the Policyholder.   This Policy is delivered in the Issue State
and governed by the laws of that state.

 

In witness whereof, GLAIC and the Policyholder
have agreed to this Policy as of the Effective Date and caused the same to be
in full force and effect.

 

 

	
   

  	
  /s/ Thomas E. Duffy

  	
   

  	
  /s/Pamela S. Schutz

  
	
   

  	
  Secretary

  	
   

  	
  President

  

 

Genworth Life and Annuity
Insurance Company

6610 West Broad Street

Richmond, VA  23230

1-800-635-8056

 

 

Table
of Contents

 

Section 1 –
Accumulation Fund – Establishment and Operation

 

Section 2 –
Payments From the Accumulation Fund

 

Section 3 –
Termination of Agreement

 

Section 4 –
General Provisions

 

Section 5 –
Definitions

 

 

SECTION 1 –
ACCUMULATION FUND – ESTABLISHMENT AND OPERATION

 

1.1                         POLICY PAYMENTS. 
The Policyholder agrees to pay to GLAIC in the currency specified in the
Accumulation Fund Schedule (the “Specified Currency”), and by wire transfer,
the Net Deposit Amount on the Deposit Date. 
Regardless of the Effective Date of the Policy or the Deposit Date
specified in the Accumulation Fund Schedule, this Policy shall become effective
only upon the receipt by GLAIC, or its designee, of the Net Deposit Amount.

 

1.2                         ESTABLISHMENT OF THE ACCUMULATION
FUND.  Upon the receipt by GLAIC of
the Net Deposit Amount, GLAIC will establish an Accumulation Fund.  The Accumulation Fund is a general account
record that reflects the Fund Balance under this Policy.  GLAIC is neither a trustee nor a fiduciary with
respect to the Accumulation Fund.  The
Net Deposit Amount is allocated to GLAIC’s general account for investment but
all funds received under this Policy will become the exclusive property of
GLAIC without any duty or requirement for segregation or separate
investment.  The Fund Balance is not
affected by the investment results of the assets held in the general account.

 

1.3                         INTEREST ON THE ACCUMULATION FUND.  The Guaranteed Rate for the Accumulation Fund
is effective until the Fund Balance is paid in full to the Policyholder.  Interest is credited based upon the
methodology specified in the Accumulation Fund Schedule.

 

1.4                         VALUE OF THE ACCUMULATION FUND.  The Fund Balance on any given day equals the Deposit
Amount plus interest, if any, credited thereon at the Guaranteed Rate, less any
payments made under Section 2 of the Policy.

 

SECTION 2 –
PAYMENTS FROM THE ACCUMULATION FUND

 

2.1                         PERIODIC PAYMENTS.  GLAIC will pay the
Policyholder the amounts specified in the 
Accumulation Fund Schedule as Periodic Payouts, including the Maturity
Payout, on the dates  specified (subject
to Section 4.7).  Such payment
amounts are adjusted to reflect any other payment  payable under this Section of the
Policy.  The interest factor used in
making such adjustments is the  Guaranteed
Rate. 

 

2.2                         OPTIONAL REPAYMENT.  If so indicated in
the Accumulation Fund Schedule, GLAIC shall pay to the Policyholder the amount
the Policyholder needs to redeem or repay any notes or other  instruments issued by the Policyholder and
backed by this Policy, pursuant to any limited right of  redemption or repayment contained in such
note or instrument.  GLAIC may require
reasonable  evidence that the redemption
or repayment request satisfies all the terms and conditions described in  the prospectus, prospectus supplement and/or
pricing supplement applicable to such note or other  instrument. 
Additional restrictions, if any, on the Policyholder’s reimbursement
rights under this Section may be included in the Accumulation Fund
Schedule. 

 

1

 

2.3                         OPTIONAL REDEMPTION.  If so indicated in
the Accumulation Fund Schedule, GLAIC may elect
to pay the Policyholder all or any part of the Fund Balance on the Call Dates
specified in the Accumulation Fund Schedule. 
Unless otherwise provided in the Accumulation Fund Schedule, GLAIC will
give the Policyholder at least thirty-five (35) calendar days and no more than
seventy-five (75) calendar days notice of its intent to make such
pre-payment.  No adjustment will be made
to the amount of such payment, unless such adjustment is specifically provided
for in the Accumulation Fund Schedule.

 

2.4                         MATURITY PAYMENTS.  GLAIC shall pay the
Policyholder the Fund Balance on the Maturity Date.

 

2.5                         FORM OF PAYMENT.  All payments GLAIC
makes to the Policyholder will be made in the 
Specified Currency, by wire transfer, unless otherwise agreed in writing
by the parties hereto.  Unless otherwise
stated in the Accumulation Fund Schedule, all payments GLAIC makes will be  net of any applicable withholding or
deduction for or on account of any present or future taxes,  duties, levies, assessments or other
governmental charges of whatever nature imposed or levied by or on behalf of
any governmental authority having the power to tax.  Unless otherwise specified in the
Accumulation Fund Schedule, such net payments fully satisfy GLAIC’s obligation
to the  Policyholder with respect to the
full amount due. 

 

SECTION 3 – TERMINATION OF AGREEMENT

 

3.1                         AUTOMATIC TERMINATION/ACCELERATION.  This Policy
terminates with respect to the  Accumulation
Fund when the Fund Balance is zero and GLAIC’s obligations hereunder shall  automatically accelerate upon the occurrence
of an Event of Default described in Section 3.3(a). 

 

3.2                       EARLY TERMINATION/ACCELERATION.  The Policyholder may
accelerate this Policy by giving GLAIC not less than two (2) Business Days’
written notice upon the occurrence of an Event of Default specified in Section 3.3
b., c. or d. below.  GLAIC may accelerate
this Policy, in whole but not in part, by giving the Policyholder not less than
forty-five (45) days’, but no more than seventy-five (75) days’, prior written
notice of the occurrence of a Tax Event as described in Section 3.4,
provided, however that this Policy shall not be terminated until the Fund
Balance has been paid to the Policyholder in full.

 

3.3                       EVENTS OF DEFAULT.  An Event of Default occurs if:

 

a.           GLAIC is dissolved or a resolution is passed or proceeding is
instituted for the winding-up,  liquidation
or similar arrangement of GLAIC (other than pursuant to a consolidation,  amalgamation or merger); 

b.          GLAIC breaches any material obligation, representation or
certification contained herein,  provided
that there is no bona fide dispute as to whether such breach has occurred and
that such  breach continues for fifteen
(15) Business Days following the Policyholder’s written notice to GLAIC of such
breach; 

 

2

 

c.           GLAIC fails to make any
required Periodic Payout (other than the Maturity Payout) described  in the Accumulation Fund Schedule or any
other payment described in Sections 2.2 or 2.3 of this  Policy or any other funding agreement GLAIC
issues in connection with the Program, and 
such failure continues for seven (7) Business Days after the due
date thereof;

d.          GLAIC fails to make the
Maturity Payout described in the Accumulation Fund Schedule or in any other
funding agreement GLAIC issues in connection with the Program and such failure
is continuing as of the end of the Business Day following the due date thereof.

 

3.4                       TAX EVENT.  A “Tax Event” occurs
if GLAIC has received an opinion of independent legal counsel stating in effect
that there is more than an insubstantial risk that as a result of any amendment
to, or change (including any announced prospective change) in, the laws (or
regulations thereunder) of the United States or any political subdivision or
taxing authority thereof or therein or any amendment to, or change in, an
interpretation or application of any such laws or regulations by any
governmental authority in the United States, which amendment or change is
enacted, promulgated, issued or announced on or after the Deposit Date, the
Policyholder is or will be within ninety (90) days of the date thereof, (1) subject
to an entity level U.S. federal income tax with respect to interest accrued or
received on this Policy or (2) subject to more than a de minimis amount of
taxes, duties or other governmental charges.

 

Notwithstanding
anything to the contrary in this Section 3, if GLAIC shall comply in all
respects  with the requirements of this Section 3,
but an event of default has occurred with respect to the notes  backed by the Policy and as a result payments
with respect to the notes have been accelerated,  otherwise than by reason of any default under
this Policy by GLAIC, no Event of Default (as 
defined above) under this Policy shall be deemed to have occurred, no
payments with respect to this  Policy
shall be accelerated and GLAIC will remain obligated to make payments under
this Policy  as if no Event of Default
had occurred with respect to the notes. 

 

SECTION 4 – GENERAL PROVISIONS

 

4.1                       PAYMENT UPON TERMINATION.  Unless otherwise
specified in the Accumulation Fund  Schedule,
GLAIC shall pay the Policyholder the Fund Balance on the Maturity Date.  Such  payment
fully discharges GLAIC’s obligation to the Policyholder under this Policy.

 

4.2                       DISCLAIMER OF RESPONSIBILITY.  GLAIC’s only liability
is as set out in this Policy,  including
the Accumulation Fund Schedule attached hereto. 
In performing its obligations under 
this Policy, GLAIC is not acting as a fiduciary or agent for the
Policyholder or anyone else  regardless
of whether or not they are directly or indirectly associated with the
Policyholder.

 

4.3                       NOTICES.  All agreements, notices, directions,
consents, elections or other communication 
(“Notices”) required by this Policy must be in writing, directed to the
applicable address  designated on the
face page.  Any such Notices may be given
by facsimile transmission or other  acceptable
electronic means.  All Notices are
effective when received.

 

3

 

4.4                         AMENDMENTS.  This Policy may be
amended only by mutual written agreement between the parties hereto.

 

4.5                         CONFLICT.  To the extent that
there is a conflict in terms between the Policy and the Accumulation Fund
Schedule, the Accumulation Fund Schedule will control the conduct of the parties.

 

4.6                         TRANSFERABILITY/ASSIGNMENT.  This Policy and the
Accumulation Fund established pursuant to it may solely be sold, assigned,
transferred or pledged in accordance with, and for the purposes contemplated
by, the documents and agreements governing the establishment and operation of
the Program.  GLAIC will maintain a
record of ownership of this Policy on its books and records.

 

4.7                         PAYMENTS BY GLAIC.  When this Policy provides that GLAIC will
make a payment to the  Policyholder, such
payment shall be made to the Policyholder or to the agent the Policyholder  designates. 
Unless otherwise specified in the Accumulation Fund Schedule, if a
payment date is  not a Business Day,
GLAIC will pay such amount on the next Business Day.

 

4.8                         WAIVER BY GLAIC.  At the Policyholder’s
request, GLAIC may waive any terms,  conditions
or adjustments provided for in this Policy. 
Any such waiver is subject to any 
limitations GLAIC specifies in making the waiver and does not require
GLAIC to grant similar  future waivers to
the Policyholder or anyone else.  A
failure or delay in exercising a right under 
this Policy does not waive GLAIC’s right or ability to assert such right
in the future.

 

4.9                         MUTUAL REPRESENTATIONS.  The parties mutually
represent and warrant, each to the other, that:

 

a.           This Policy is its
legal, valid and binding obligation, enforceable in accordance with its terms,
subject to applicable bankruptcy, insolvency, reorganization, moratorium or
other laws affecting creditor’s rights, and subject, as to enforceability, to
general principals of equity, regardless of whether enforcement is sought in
proceeding in equity or law;

b.          It has the power to
enter into this Policy and to consummate the transactions contemplated hereby;

c.           All information
provided in connection with this Policy is, to the best of its knowledge and
belief, true, correct and complete;

d.          The execution and the
delivery of this Policy and the performance of obligations hereunder do not and
will not constitute or result in a default, breach or violation, of the terms
or provisions of its certificate, articles or charter of incorporation,
declaration of trust, by-laws or any agreement, instrument, mortgage, judgment,
injunction or order applicable to it or any of its property.

 

4

 

4.10                  TAX PROVISIONS.  The Policyholder and
each transferee and assignee of this Policy, to the  extent required by law, agree to provide
GLAIC with any properly completed tax forms that are  needed for GLAIC to satisfy its tax reporting
obligations with respect to amounts held under this  Policy. 
This Policy is intended to be ignored for U.S. federal, state and local
income and franchise tax purposes. To the extent it cannot be ignored, GLAIC
and the Policyholder and each transferee and assignee of this Policy agree to
treat this Policy as GLAIC’s debt obligation for U.S. federal, state and local
income and franchise tax purposes.

 

SECTION 5 – DEFINITIONS

 

5.1          POLICY DEFINITIONS.  The following terms have the meanings
indicated:

 

“Accumulation
Fund” is the accounting record GLAIC will establish under
this Policy as described in Section 1.2.

 

“Accumulation
Fund Schedule” is attached to this Policy and establishes the
terms of the Accumulation Fund.

 

“Business
Day” is any day, other than Saturday or Sunday, that is
neither a legal holiday nor a day on which commercial banks are authorized or
required by law, regulation or executive order to close, or are otherwise
closed, in each Business Day City specified in the Accumulation Fund Schedule.

 

“Call
Date” is the day or days prior to the Stated Maturity Date,
if any, specified in the Accumulation Fund Schedule attached to this Policy, on
which GLAIC may elect to pay the Policyholder all or any part of the Fund
Balance.  If no Call Date is indicated in
an Accumulation Fund Schedule, GLAIC will pay to the Policyholder the Fund
Balance prior to the Stated Maturity Date only to the extent provided in Section 3.2.

 

“Deposit
Amount” is the amount GLAIC credits to the Accumulation Fund
on the Deposit Date as set forth in the Accumulation Fund Schedule.

 

“Deposit
Date” is the date, specified in the Accumulation Fund
Schedule, on which GLAIC receives the Net Deposit Amount.

 

“Event
of Default” has the meaning described in Section 3.3.

 

“Fund
Balance” is the value of the Accumulation Fund, determined
pursuant to Section 1.4.

 

“Guaranteed
Rate” is the interest rate, if any, applied to the
Accumulation Fund, as stated in the Accumulation Fund Schedule.

 

“Indenture”
is that certain indenture agreement, made between the Policyholder and the
Indenture Trustee related to the notes to be supported by this Policy as such
agreement may be amended, supplemented or replaced from time to time.

 

5

 

“Indenture
Trustee” is the party specified as trustee under the
Indenture, or its successor.

 

“Maturity
Date” is the earlier of (i) the Stated Maturity Date and
(ii) each date on which the Fund Balance is payable in full to the
Policyholder pursuant to an Event of Default, Optional Repayment, Optional
Redemption or otherwise.  Unless
otherwise indicated in the Accumulation Fund Schedule, if any of the foregoing
dates is not a Business Day, the Maturity Date is the next following Business
Day.  Interest accrues during such delay
only if specified in the Accumulation Fund Schedule.

 

“Net
Deposit Amount” is the amount GLAIC receives from the
Policyholder on the Deposit Date as set forth in the Accumulation Fund
Schedule.

 

“Program”
is the Genworth Global Funding program, as described in the prospectus relating
thereto, including the applicable prospectus supplement or pricing supplement
or in any amendment thereto.

 

“Stated
Maturity Date” is the date, as set forth on the Accumulation
Fund Schedule, when the Fund Balance is originally due and payable to the
Policyholder.

 

“Tax
Event” has the meaning described in Section 3.4.

 

5.2                   OTHER DEFINITIONS.  Other capitalized terms appearing in this
Policy have the meanings indicated on the Policy’s face page or in the
Accumulation Fund Schedule.

 

6

 

GLAIC

Accumulation
Fund Schedule – Fixed Rate

 

Policy
Number: GS-R6030

 

	
  Deposit
  Date:

  	
   

  	
  April 10, 2008 or
  the date the deposit is actually received by GLAIC

  
	
   

  	
   

  	
   

  
	
  Specified
  Currency:

  	
   

  	
  United
  States Dollars

  
	
   

  	
   

  	
   

  
	
  Deposit
  Amount:

  	
   

  	
  $9,357,000.00

  
	
   

  	
   

  	
   

  
	
  Net
  Deposit Amount:

  	
   

  	
  $9,123,075.00

  
	
   

  	
   

  	
   

  
	
  Stated
  Maturity Date:

  	
   

  	
  April 15, 2033

  
	
   

  	
   

  	
   

  
	
  Guaranteed
  Rate:

  	
   

  	
  6.00%

  
	
   

  	
   

  	
   

  
	
  Crediting
  Period:

  	
   

  	
  The
  first Crediting Period shall be a long period commencing on the Deposit Date
  to but excluding October 15, 2008. Each subsequent Crediting Period
  shall be the semi-annual period occurring between the 15th of each
  April and October thereafter. The final Crediting Period will be
  the period from and including October 15, 2032, to but excluding
  April 15, 2033.

  
	
   

  	
   

  	
   

  
	
  Interest
  Crediting:

  	
   

  	
  Interest
  is credited based upon a 30/360 basis,
  applied to the Fund Balance each day.

  
	
   

  	
   

  	
   

  
	
  Periodic
  Payouts:

  	
   

  	
  On
  the 15th of each April and
  October, GLAIC will pay the Policyholder all accrued and unpaid interest (if
  such date is not a Business Day, the Periodic Payout will be made on the next
  following Business Day, and in such cases the amount of interest shall not be
  adjusted for non-Business Days) (each, an “Interest Payment Date”); provided, however, that
  the final Periodic Payout shall be on the Maturity Date, on which date all
  accrued and unpaid interest will be paid.

  
	
   

  	
   

  	
   

  
	
  Optional
  Repayment:

  	
   

  	
  Optional
  Repayments under Section 2.2 of the Policy may be made solely with
  respect to the “Survivor’s Option” described in Pricing Supplement
  No. 019 dated March 31, 2008 to the Prospectus Supplement dated
  December 9, 2005 related to the Program.

  
	
   

  	
   

  	
   

  
	
  Call
  Terms:

  	
   

  	
  Under
  Section 2.3 of the Policy, GLAIC may elect to pay the Policyholder all
  of the Fund Balance on April 15, 2013, or as of any date thereafter when
  a Periodic Payout is due (the “Call Dates”).

  
	
   

  	
   

  	
   

  
	
  Maturity
  Payout:

  	
   

  	
  On
  the Maturity Date, GLAIC will pay to the Policyholder the Fund Balance. If
  such date is not a Business Day, the Maturity Payout will be made on the next
  following Business Day; provided, however, that interest shall not accrue beyond the
  Maturity Date.

  

 

 

	
  Business
  Day City(s):

  	
   

  	
  New
  York, New York

  
	
   

  	
   

  	
   

  
	
  Other
  Terms:

  	
   

  	
  None

  
	
   

  	
   

  	
   

  

*********************

 

The calculation of the Guaranteed Rate and all
other payment terms of this Policy will be determined in the manner described
in the “Description of the Notes” section in the Prospectus Supplement.

 

*********************

 

	
  GENWORTH LIFE AND
  ANNUITY 
 INSURANCE COMPANY

  	
   

  	
  GENWORTH GLOBAL FUNDING
  TRUST 2008-14

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By: 

  	
   /s/ Pamela C. Asbury

  	
   

  	
  By*:

  	
   /s/ Patricia M. Child

  
	
   

  	
  Pamela C. Asbury

  	
   

  	
   

  	
  Patricia M. Child

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Official Title: 

  	
  Vice President

  	
   

  	
  Official Title: 

  	
  Vice President

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Date:

  	
  April 8,
  2008

  	
   

  	
  Date:

  	
  April 8, 2008

  
											

 

* It is expressly
understood and agreed that (a) this Policy is executed and delivered by
U.S. Bank National Association (“USB”) not individually or personally, but
solely as Trustee of the Genworth Global Funding Trust 2008-14 in the exercise
of powers and authority conferred and vested in it (b) each of the
representations, undertakings and agreements herein made on the part of the
Trust is made and intended not as personal representations, undertakings and
agreements by USB but is made and intended for the purpose of binding only the
Trust, (c) nothing herein contained shall be construed as creating any
liability on USB individually or personally, to perform any covenant either
express or implied contained herein, all such liability, if any being expressly
waived by the parties hereto and by any person claiming by, through or under
the parties hereto and (d) under no circumstances shall USB be personally
liable for the payment of any indebtedness or expenses of the Trust or be
liable for the breach or failure of any obligation, representation, warrant or
covenant made or undertaken by the Trust under this Policy or any other related
documents.

 

*********************EXHIBIT 10.1
 
[FORM OF]
AGILENT TECHNOLOGIES, INC.
AMENDED AND RESTATED
INDEMNIFICATION AGREEMENT
 
This Indemnification Agreement (“Agreement”) is entered into as of April       , 2008 by and between Agilent Technologies, Inc., a Delaware corporation (the “Company”) and                                   (“Indemnitee”).
 
RECITALS
 

A.    The Company and Indemnitee
recognize the continued difficulty in obtaining liability insurance for its
directors, officers, employees, agents and fiduciaries, the significant increases
in the cost of such insurance and the general reductions in the coverage of
such insurance.

 

B.    The Company and Indemnitee
further recognize the substantial increase in corporate litigation in general,
subjecting directors, officers, employees, agents and fiduciaries to expensive
litigation risks at the same time as the availability and coverage of liability
insurance has been severely limited.

 

C.    Indemnitee does not regard
the current protection available as adequate under the present circumstances,
and Indemnitee and other directors, officers, employees, agents and fiduciaries
of the Company may not be willing to continue to serve in such capacities
without additional protection.

 

D.    The Company desires to
attract and retain the services of highly qualified individuals, such as
Indemnitee, to serve the Company and, in part, in order to induce Indemnitee to
continue to provide services to the Company, wishes to provide for the
indemnification and advancing of expenses to Indemnitee to the maximum extent
permitted by law.

 

E.     In view of the
considerations set forth above, the Company desires that Indemnitee be
indemnified by the Company as set forth herein.

 

NOW, THEREFORE, the Company and Indemnitee hereby agree as follows:
 
1.               Indemnification.
 
(a)       Indemnification of Expenses.  The Company shall indemnify Indemnitee to the fullest extent permitted by law if Indemnitee was or is or becomes a party to or witness or other participant in, or is threatened to be made a party to or witness or other participant in, any threatened, pending or completed action, suit, proceeding or alternative dispute resolution mechanism, or any hearing, inquiry or investigation that 
 
1

 
Indemnitee in good faith believes might lead to the institution of any such action, suit, proceeding or alternative dispute resolution mechanism, whether civil, criminal, administrative, investigative or other (hereinafter a “Claim”) by reason of (or arising in part out of) any event or occurrence related to the fact that Indemnitee is or was a director, officer, employee, agent or fiduciary of the Company, or any subsidiary of the Company, or is or was serving at the request of the Company as a director, officer, employee, agent or fiduciary of another corporation, limited liability company, partnership, joint venture, trust or other enterprise, or by reason of any action or inaction on the part of Indemnitee while serving in such capacity (hereinafter an “Indemnifiable Event”) against any and all expenses (including attorneys’ fees and all other costs, expenses and obligations actually and reasonably incurred by Indemnitee on his behalf in connection with investigating, defending, being a witness in or participating in (including on appeal), or preparing to defend, be a witness in or participate in, any such action, suit, proceeding, alternative dispute resolution mechanism, hearing, inquiry or investigation), judgments, fines, penalties and amounts paid in settlement (if such settlement is approved in advance by the Company, which approval shall not be unreasonably withheld) of such Claim and any federal, state, local or foreign taxes imposed on Indemnitee as a result of the actual or deemed receipt of any payments under this Agreement (collectively, hereinafter “Expenses”), including all interest, assessments and other charges paid or payable in connection with or in respect of such Expenses. Such payment of Expenses shall be made by the Company as soon as practicable but in any event no later than five days after written demand by Indemnitee therefore is presented to the Company.
 
(b)   Reviewing Party.  Notwithstanding the foregoing, (i) the obligations of the Company under Section 1(a) shall be subject to the condition that the Reviewing Party (as described in Section 10(e) hereof) shall not have determined (in a written opinion, in any case in which the Independent Legal Counsel referred to in Section 1(c) hereof is involved) that Indemnitee would not be permitted to be indemnified under applicable law, and (ii) the obligation of the Company to make an advance payment of Expenses to Indemnitee pursuant to Section 2(a) (an “Expense Advance”) shall be subject to the Company’s  receipt of an undertaking by or on behalf of the Indemnitee to repay such amount advanced, if, when and to the extent that the Reviewing Party determines that Indemnitee would not be permitted to be so indemnified under applicable law, the Company shall be entitled to be reimbursed by Indemnitee (who hereby agrees to reimburse the Company) for all such amounts theretofore paid; provided, however, that if Indemnitee has commenced or thereafter commences legal proceedings in a court of competent jurisdiction to secure a determination that Indemnitee should be indemnified under applicable law, any determination made by the Reviewing Party that Indemnitee would not be permitted to be indemnified under applicable law shall not be binding and Indemnitee shall not be required to reimburse the Company for any Expense Advance until a final judicial determination is made with respect thereto (as to which all rights of appeal therefrom have been exhausted or lapsed).  Indemnitees’ obligation to reimburse the Company for any Expense Advance shall be unsecured and no interest shall be charged thereon.  If there has not been a Change in Control (as defined in Section 10(c) hereof), the Reviewing Party shall be selected by the Board of Directors, and if there has been such a Change in Control (other than a Change in Control which has been approved 
 
2

 
by a majority of the Company’s Board of Directors who were directors immediately prior to such Change in Control), the Reviewing Party shall be the Independent Legal Counsel referred to in Section 1(c) hereof. If there has been no determination by the Reviewing Party or if the Reviewing Party determines that Indemnitee substantively would not be permitted to be indemnified in whole or in part under applicable law, Indemnitee shall have the right to commence litigation seeking an initial determination by the court or challenging any such determination by the Reviewing Party or any aspect thereof, including the legal or factual bases therefor, and the Company hereby consents to service of process and to appear in any such proceeding. Any determination by the Reviewing Party otherwise shall be conclusive and binding on the Company and Indemnitee.
 
(c)   Change in Control.  The Company agrees that if there is a Change in Control of the Company (other than a Change in Control which has been approved by a majority of the Company’s Board of Directors who were directors immediately prior to such Change in Control) then, with respect to all matters thereafter arising concerning the rights of Indemnitees to payments of Expenses and Expense Advances under this Agreement or any other agreement or under the Company’s Certificate of Incorporation or Bylaws as now or hereafter in effect, Independent Legal Counsel (as defined in Section 10(d) hereof) shall be selected  by Indemnitee and approved by the Company (which approval shall not beunreasonably withheld).  Such counsel, among other things, shall render its written opinion to the Company and Indemnitee as to whether and to what extent Indemnitee would be permitted to be indemnified under applicable law and the Company agrees to abide by such opinion.  The Company agrees to pay the reasonable fees of the Independent Legal Counsel referred to above and to fully indemnify such counsel against any and all expenses (including attorneys’ fees), claims, liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto.
 
(d)   Mandatory Payment of Expenses.  Notwithstanding any other provision of this Agreement other than Section 9 hereof, to the extent that Indemnitee has been successful on the merits or otherwise, including, without limitation, the dismissal of an action without prejudice, in defense of any action, suit, proceeding, inquiry or investigation referred to in Section (1)(a) hereof or in the defense of any claim, issue or matter therein, in whole or in part, Indemnitee shall be indemnified against all Expenses actually and reasonably incurred by Indemnitee in connection therewith.
 
2.               Expenses; Indemnification Procedure.
 
(a)   Advancement of Expenses.  The Company shall advance all Expenses incurred by Indemnitee upon receipt of an undertaking by or on behalf of the Indemnitee to repay such amounts advanced to the extent required by applicable law.  The advances to be made hereunder shall be paid by the Company to Indemnitee as soon as practicable but in any event no later than five days after written demand by Indemnitee therefor to the Company.
 
(b)   Notice/Cooperation by Indemnitee.  Indemnitee shall, as a condition precedent to Indemnitees’ right to be indemnified under this Agreement, give the 
 
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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 at the address shown on the signature page of this Agreement (or such other address as the Company shall designate in writing to Indemnitee). In addition, Indemnitee shall give the Company such information and cooperation as it may reasonably require and as shall be within Indemnitees’ power.
 
(c)   No Presumptions; Burden of Proof.  For purposes of this Agreement,  to the fullest extent permitted by applicable law, the termination of any Claim by judgment, order, settlement (whether with or without court approval) or conviction, or upon a plea of nolo contendere, or its equivalent, shall not create a presumption that Indemnitee did not meet any particular standard of conduct or have any particular belief or that a court has determined that indemnification is not permitted by applicable law.  In addition, neither the failure of the Reviewing Party to have made a determination as to whether Indemnitee has met any particular standard of conduct or had any particular belief, nor an actual determination by the Reviewing Party that Indemnitee has not met such standard of conduct or did not have such belief, prior to the commencement of legal proceedings by Indemnitee to secure a judicial determination that Indemnitee should be indemnified under applicable law, shall be a defense to Indemnitee’s claim or create a presumption that Indemnitee has not met any particular standard of conduct or did not have any particular belief.  In connection with any determination by the Reviewing Party or otherwise as to whether Indemnitee is entitled to be indemnified hereunder, the burden of proof shall be on the Company to establish that Indemnitee is not so entitled.
 
(d)   Notice to Insurers.  If, at the time of the receipt by the Company of a notice of a Claim pursuant to Section 2(b) hereof, the Company has liability insurance in effect which may cover such Claim, the Company shall give prompt notice of the commencement of such Claim 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 Indemnitee, all amounts payable as a result of such action, suit, proceeding, inquiry or investigation in accordance with the terms of such policies.
 
(e)   Selection of Counsel.  In the event the Company shall be obligated hereunder to pay the Expenses of any Claim, the Company shall be entitled to assume the defense of such Claim 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 Claim; provided that, (i) Indemnitee shall have the right to employ Indemnitees’ counsel in any such Claim at Indemnitee 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 is a conflict of interest between the Company and Indemnitee in the conduct of any such defense, or (C) the 
 
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Company shall not continue to retain such counsel to defend such Claim, then the fees and expenses of Indemnitee counsel shall be at the expense of the Company. The Company shall have the right to conduct such defense as it sees fit in its sole discretion, including the right to settle any claim against Indemnitee without the consent of the Indemnitee.
 
3.               Additional Indemnification Rights; Nonexclusivity.
 
(a)   Scope.  The Company hereby agrees to indemnify 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, employee, agent or fiduciary, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits afforded by such change.  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, employee, agent or fiduciary, such change, 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 except as set forth in Section 8(a) hereof.
 
(b)   Nonexclusivity.  The indemnification provided by this Agreement shall be in addition to 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 directors, the General Corporation Law of the State of Delaware, or otherwise.  The indemnification provided under this Agreement shall continue as to Indemnitee for any action Indemnitee took or did not take while serving in an indemnified capacity even though Indemnitee may have ceased to serve in such capacity.
 
4.     No Duplication of Payments.  The Company shall not be liable under this Agreement to make any payment in connection with any Claim made against Indemnitee to the extent Indemnitee has otherwise actually received payment (under any insurance policy, Certificate of Incorporation, Bylaw or otherwise) of the amounts otherwise indemnifiable or subject to a claim for advancement hereunder.
 
5.     Partial Indemnification.  If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some or a portion of Expenses incurred in connection with any Claim, but not, however, for all of the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion of such Expenses to which Indemnitee are entitled.
 
6.     Mutual Acknowledgement.  Both the Company and Indemnitee acknowledge that in certain instances, Federal law or applicable public policy may prohibit the Company from indemnifying its directors, officers, employees, agents or fiduciaries 
 
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under this Agreement or otherwise.  Indemnitee understands and acknowledges that the Company has undertaken or may be required in the future to undertake with the Securities and Exchange Commission 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.     Liability Insurance.  To the extent the Company maintains liability insurance applicable to directors, officers, employees, agents or fiduciaries, Indemnitee shall be covered by such policies 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, agents or fiduciaries, if Indemnitee is not an officer or director but is a key employee, agent or fiduciary.
 
8.     Exceptions.  Any other provision herein to the contrary notwithstanding, the Company shall not be obligated pursuant to the terms of this Agreement :
 
(a)   Excluded Action or Omissions. (i) To indemnify Indemnitee for Indemnitee’s acts, omissions or transactions from which Indemnitee or the Indemnitee may not be indemnified under applicable law; or (ii) to indemnify Indemnity for Indemnity’s intentional acts or transactions in violation of the Company’s policies;
 
(b)   Claims Initiated by Indemnitee. To indemnify or advance expenses to Indemnitee with respect to Claims initiated or brought voluntarily by Indemnitee and not by way of defense, except (i) with respect to actions or proceedings brought to establish or enforce a right to indemnification under this Agreement or any other agreement or insurance policy or under the Company’s Certificate of Incorporation or Bylaws now or hereafter in effect relating to Claims for Indemnifiable Events, but only to the event Indemnitee is successful on the underlying claim for such indemnification, advance expense payment or insurance recovery, as the case may be, (ii) in specific cases if the Board of Directors has approved the initiation or bringing of such Claim, or (iii) as otherwise required under Section 145 of the Delaware General Corporation Law,
 
(c)   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; or
 
(d)   Claims Under Section 16(b). To indemnify Indemnitee for expenses and 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.
 
9.     Period of Limitations.  No legal action shall be brought and no cause of action shall be asserted by or in the right of the Company against Indemnitee, Indemnitee’s 
 
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estate, spouse, heirs, executors or personal or legal representatives after the expiration of two years from the date of accrual of such cause of action, and any claim or cause of action of the Company shall be extinguished and deemed released unless asserted by the timely filing of a legal action within such two-year period; provided, however, that if any shorter period of limitations is otherwise applicable to any such cause of action, such shorter period shall govern.
 
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, employees, agents or fiduciaries, so that if Indemnitee is or was a director, officer, employee, agent or fiduciary of such constituent corporation, or is or was serving at the request of such constituent corporation as a director, officer, employee, agent or fiduciary of another corporation, partnership, joint venture, employee benefit plan, 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, agent or fiduciary of the Company which imposes duties on, or involves services by, such director, officer, employee, agent or fiduciary with respect to an employee benefit plan, its participants or its 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.
 
(c)   For purposes of this Agreement a “Change in Control” shall be deemed to have occurred if (i) any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended), other than a trustee or other fiduciary holding securities under an employee benefit plan of the Company or a corporation owned directly or indirectly by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company, (A) who is or becomes the beneficial owner, directly or indirectly, of securities of the Company representing 10% or more of the combined voting power of the Company’s then outstanding Voting Securities, increases his beneficial ownership of such securities by 5% or more over the percentage so owned by such person, or (B) becomes the “beneficial owner” (as defined in Rule 13d-3 under said Act), directly or indirectly, of securities of the Company representing more than 20% of the total voting power represented by the Company’s then outstanding 
 
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Voting Securities, (ii) during any period of two consecutive years, individuals who at the beginning of such period constitute the Board of Directors of the Company and any new director whose election by the Board of Directors or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds of the directors then still in office who either were directors at the beginning of the period or whose election or nomination for election was previously so approved, cease for any reason to constitute a majority thereof, or (iii) the stockholders of the Company approve a merger or consolidation of the Company with any other corporation other than a merger or consolidation which would result in the Voting Securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into Voting Securities of the surviving entity) at least 80% of the total voting power represented by the Voting Securities of the Company or such surviving entity outstanding immediately after such merger or consolidation, or the stockholders of the Company approve a plan of complete liquidation of the Company or an agreement for the sale or disposition by the Company of (in one transaction or a series of transactions) all or substantially all of the Company’s assets.
 
(d)   For purposes of this Agreement, “Independent Legal Counsel” shall mean an attorney or firm of attorneys, selected in accordance with the provisions of Section 1(c) hereof, who shall not have otherwise performed services for the Company or Indemnitee within the last three years (other than with respect to matters concerning the rights of Indemnitee under this Agreement, or of other indemnitees under similar indemnity agreements).
 
(e)   For purposes of this Agreement, a “Reviewing Party” shall mean, subject to the requirements of applicable law any appropriate person or body consisting of a member or members of the Company’s Board of Directors or any other person or body appointed by the Board of Directors who is not a party to the particular Claim for which Indemnitee are seeking indemnification, or Independent Legal Counsel.
 
(f)    For purposes of this Agreement, “Voting Securities” shall mean any securities of the Company that vote generally in the election of directors.
 
11.   Counterparts.  This Agreement may be executed in one or more counterparts, each of which shall constitute an original.
 
12.   Binding Effect; Successors and Assigns.  This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties  hereto and their respective successors, assigns, including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business and/or assets of the Company, spouses, heirs, and personal and legal representatives. The Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to all, substantially all, or a substantial part, of the business and/or assets of the Company, by written agreement in form and substance satisfactory to Indemnitee, 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 
 
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succession had taken place. This Agreement shall continue in effect with respect to Claims relating to Indemnifiable Events regardless of whether Indemnitee continues to serve as a director, officer, employee, agent or fiduciary of the Company or of any other enterprise at the Company’s request.
 
13.   Attorneys’ Fees.  In the event that any action is instituted by Indemnitee under this Agreement or under any liability insurance policies maintained by the Company to enforce or interpret any of the terms hereof or thereof, Indemnitee shall be entitled to be paid all Expenses incurred by Indemnitee with respect to such action, , and shall be entitled to the advancement of Expenses with respect to such action to the extent Indemnitee is successful on the underlying claim for such indemnification, advance expense payment or insurance recovery, as the  case may be; unless, as a part of such action, a court of competent jurisdiction over such action determines that each of the material assertions made by Indemnitee as a basis for such action was not made in good faith or was frivolous. In the event of an action instituted by or in the name of the Company under this Agreement to enforce or interpret any of the terms of this Agreement, Indemnitee shall be entitled to be paid all Expenses incurred by Indemnitee in defense of such action (including costs and expenses incurred with respect to Indemnitee counterclaims and cross-claims made in such action), and shall be entitled to the advancement of Expenses with respect to such action, unless, as a part of such action, a court having jurisdiction over such action determines that each of Indemnitee material defenses to such action was made in bad faith or was frivolous.
 
14.   Notice.  All notices and other communications required or permitted hereunder shall be in writing, shall be effective when given, and shall in any event be deemed to be given (a) five (5) days after deposit with the U.S. Postal Service or other applicable postal service, if delivered by first class mail, postage prepaid, (b) upon delivery, if delivered by hand, (c) one business day after the business day of deposit with Federal Express or similar overnight courier, freight prepaid, or (d) one day after the business day of delivery by facsimile transmission, if delivered by facsimile transmission, with copy by first class mail, postage prepaid, and shall be addressed if to Indemnitee, at the Indemnitee address as set forth beneath Indemnitee signatures to this Agreement and if to the Company at the address of its principal corporate offices (attention: Secretary) or at such other address as such party may designate by ten days’ advance written notice to the other party hereto.
 
15.   Consent to Jurisdiction.  The Company and Indemnitee each hereby irrevocably consent to the jurisdiction of the courts of the State of Delaware for all purposes in connection with any action or proceeding which arises out of or relates to this Agreement and agree that any action instituted under this  Agreement shall be commenced, prosecuted and continued only in the Court of Chancery of the State of Delaware in and for New Castle County, which shall be the exclusive and only proper forum for adjudicating such a claim.
 
16.   Severability.  The provisions of this Agreement shall be severable in the event that any of the provisions hereof (including any provision within a single section, paragraph or sentence) are held by a court of competent jurisdiction to be invalid, void or 
 
9

 
otherwise unenforceable, and the remaining provisions shall remain enforceable to the fullest extent permitted by law.  Furthermore, to the fullest extent possible, the provisions of this Agreement (including, without limitations, each portion of this Agreement containing any provision held to be invalid, void or otherwise unenforceable, that is not itself invalid, void or unenforceable) shall be construed so as to give effect to the intent manifested by the provision held invalid, illegal or unenforceable.
 
17.   Choice of Law.  This Agreement shall be governed by and its provisions construed and enforced in accordance with the laws of the State of Delaware, as applied to contracts between Delaware residents, entered into and to be performed entirely within the State of Delaware, without regard to the conflict of laws principles thereof.
 
18.   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 effectively to bring suit to enforce such rights.
 
19.   Amendment and Termination.  No amendment, modification, termination or cancellation of this Agreement shall be effective unless it is in writing signed by both 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.
 
20.   Integration and Entire Agreement.  This Agreement sets forth the  entire understanding between the parties hereto and supersedes and merges all previous written and oral negotiations, commitments, understandings and agreements relating to the subject matter hereof between the parties hereto.
 
21.   No Construction as Employment Agreement.  Nothing contained in this Agreement shall be construed as giving Indemnitee any right to be retained in the employ of the Company or any of its subsidiaries.
 
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IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.
 
 

	 
	AGILENT TECHNOLOGIES, INC.

	 
	 
	 

	 
	 
	 

	 
	 
	 

	 
	By:
	 

	 
	Title:
	 

 
 

	AGREED TO AND ACCEPTED BY:
	 

	 
	 

	 
	 

	Signature:
	 
	 

	 
	Name
	 

	 
	 
	 

	Address:
	 
	 

	 
	 
	 

 

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