Document:

EXHIBIT 10.200 

 

EMPLOYMENT AGREEMENT

 

NATURALNANO, INC

 

This EMPLOYMENT AGREEMENT
(this Agreement) is entered into effective as of January 1st, 2017 (the Effective Date) by and between Naturalnano, Inc. a Nevada
corporation (the “Company”) and LINDA GIAMPIETRO (the “Executive”) under the following terms and conditions:

 

RECITALS:

 

WHEREAS, the Company
and Executive desire to set forth the terms and conditions on which (i) the Company shall employ Executive, (ii) Executive shall
render services to the Company, and (iii) the Company shall compensate Executive for such services; and

 

WHEREAS, in connection
with the employment of Executive by the Company, the Company desires to restrict Executive's rights to compete with the business
of the Company;

 

WHEREAS, the parties
acknowledge that the Executive's abilities and services are unique and essential to the prospects of the Company; and

 

WHEREAS, in light
of the foregoing, the Company desires to employ the Executive as Vice President, and the Executive desires to accept such employment.

 

NOW, THEREFORE,
in consideration of the mutual promises, covenants and agreements hereinafter set forth, the parties hereto agree as follows:

 

1.             EMPLOYMENT.

 

The Company hereby employs
Executive and Executive hereby accepts employment with the Company upon the terms and conditions hereinafter set forth.

 

2.             TERM.

 

2.1           The
term of this Agreement (the Term) shall be for a period commencing on the Effective Date of this Agreement and shall continue for
a period of twenty-four (24) months from the date thereof, unless sooner terminated as provided in Paragraph 6. This two (2) year
period, as the same may be extended or terminated pursuant hereto, is hereinafter referred to as the Term.

 

2.2           For
purposes of extending the Term of the relationship between the Company and Executive, the parties agree to enter into good faith
negotiations within sixty (60) days prior to the end of the Term.

 

    	 	1	 

     

    

 

3.            COMPENSATION.

 

3.1          For all services
rendered by Executive under this Agreement, the Company shall pay Executive a base salary of One Hundred Twenty Thousand and 00/100
Dollars ($120,000.00) per annum in equal bi-monthly installments or 26 pay periods per year. (the Base Salary). The amount of the
Base Salary shall be reviewed on an annual basis by the Compensation Committee of the Company. No such change shall in any way
abrogate, alter, terminate or otherwise effect the other terms of this Agreement.

 

3.2           In
addition to the Base Salary, Executive shall be entitled to all other benefits of employment provided to the other employees of
the Company holding comparable positions within the Company, including but not limited to paid vacation, paid health insurance
for the Executive, spouse and dependents, paid life insurance to a maximum of base salary, paid mobile telephone in the Amount
of Two Thousand Four Hundred and 00/100 Dollars ($2,400.00),per annum paid car allowance in the Amount of Seven Thousand Two Hundred
and 00/100 Dollars ($7,200.00) per annum and participation in executive retirement and investment programs as instituted by the
Company.

 

3.3           Executive
shall be reimbursed for all reasonable "out-of-pocket" business expenses for business travel and business entertainment
incurred in connection with the performance of his or her duties under this Agreement (i) so long as such expenses constitute business
deductions from taxable income for the Company and are excludable from taxable income to the Executive under the governing laws
and regulations of the Internal Revenue Code and (ii) to the extent such expenses do not exceed the amounts allocable for such
expenses in budgets that are approved from time to time by the Company. The reimbursement of Executive's business expenses shall
be upon monthly presentation to and approval by the Company of valid receipts and other appropriate documentation for such expenses.

 

3.4           All
compensation shall be subject to customary withholding tax and other employment taxes as are required with respect to compensation
paid by a corporation to an employee.

 

4.             DUTIES
AND RESPONSIBILITIES.

 

4.1           Executive
shall, during the Term of this Agreement, devote his attention and expend his best efforts, energies, and skills, on a full-time
basis, to the business of the Company and any corporation controlled by or affiliated with the Company. For purposes of this Agreement,
the term the "Company" shall mean the Company and all Subsidiaries.

 

    	 	2	 

     

    

 

4.2           During
the Term of this Agreement, Executive shall serve as the Vice President of the Company and in such other capacity as determined
by the Board of Directors. In the performance of all of his responsibilities hereunder, Executive shall be subject to all of the
Company’s policies, rules, and regulations applicable to its employees of comparable status and shall report directly to,
and shall be subject to, the direction and control of the Board of Directors and shall perform such duties as shall be assigned
to him by the Board of Directors. In performing such duties, Executive will be subject to and abide by, and will use his best efforts
to cause other employees of the Company to be subject to and abide by, all policies and procedures developed by the Company’s
Executive Officers, Board of Directors or its Executive Committee.

 

4.3           Executive
hereby agrees to promote and develop all business opportunities that come to his attention relating to current or anticipated future
business of the Company, in a manner consistent with the best interests of the Company and with his duties under this Agreement.

 

4.4           During
each year, Executive in the performance of his duties under this Agreement shall comply or cause compliance with the applicable
Annual Plan and shall not (except for emergency expenditures or special circumstances requiring an unanticipated expenditure) deviate
materially from any budget category set forth in the Annual Plan, incur any material additional expense or change materially the
manner of operation of the Company without the approval of the Board of Directors.

 

5.             RESTRICTIVE
COVENANTS.

 

5.1           Executive
acknowledges that (i) he has a major responsibility for the operation, administration, development and growth of the Company's
business, (ii) his work for the Company has brought him and will continue to bring him into close contact with confidential information
of the Company and its customers, and (iii) the agreements and covenants contained in this Paragraph 5 are essential to protect
the business interests of the Company and that the Company will not enter into this Agreement but for such agreements and covenants.
Accordingly, the Executive covenants and agrees as follows:

 

5.1(a)          During
the Term of this Agreement and for a period of two years thereafter , (the “Termination Period”), if applicable, the
Executive shall not other than in the performance of his duties disclose to anyone any information about the affairs of the Company,
including, without limitation, trade secrets, trade "know-how", inventions, customer lists, business plans, operational
methods, pricing policies, marketing plans, sales plans, identity of suppliers or customers, sales, profits or other financial
information, which is confidential to the Company or is not generally known in the relevant trade, nor shall the Executive make
use of any such information for his own benefit. Any technique, method, process or technology used by the Company shall be considered
a "trade secret" for the purposes of this Agreement.

 

5.1(b)          Executive
hereby agrees that all know-how, documents, reports, plans, proposals, marketing and sales plans, client lists, client files and
materials made by him or by the Company are the property of the Company and shall not be used by him in any way adverse to the
Company's interests. Executive shall not deliver, reproduce or in any way allow such documents or things to be delivered or used
by any third party without specific direction or consent of the Board of Directors of the Company. Executive hereby assigns to
the Company any rights which he may have in any such trade secret or proprietary information.

 

    	 	3	 

     

    

 

5.1(c)          Executive hereby agrees , that in light
of the unique nature and geographic reach of the Company’s activities that During the Term of this Agreement and for
a period of two years thereafter , (the “Termination Period”), if applicable, the Executive shall not compete with
the Company whether directly, or by stock interest or otherwise in any way in any business in which it is then engaged any place
in the United States.

 

5.2           If
any of the Restrictive Covenants, or any part thereof, is held to be invalid or unenforceable, the same shall not affect the remainder
of the covenant or covenants, which shall be given full effect, without regard to the invalid or unenforceable portions. Without
limiting the generality of the foregoing, if any of the Restrictive Covenants, or any part thereof, is held to be unenforceable
because of the duration of such provision or the area covered thereby, the parties hereto agree that the court making such termination
shall have the power to reduce the duration and/or area of such provision and, in its reduced form, such provision shall then be
enforceable.

 

5.3           The parties hereto
intend to and hereby confer jurisdiction to enforce the Restrictive Covenants upon the courts of any jurisdiction within the geographical
scope of such Restrictive Covenants. In the event that the courts of any one or more of such jurisdictions shall hold such Restrictive
Covenants wholly unenforceable by reason of the breadth of such scope or otherwise, it is the intention of the parties hereto that
such determination not bar or in any way affect the Company's right to the relief provided above in the courts of any other jurisdictions
within the geographical scope of such Restrictive Covenants, as to breaches of such covenants in such other respective jurisdictions,
the above covenants as they relate to each jurisdiction being, for this purpose, severable into diverse and independent covenants.

 

6.             TERMINATION.

 

6.1           The
Company may terminate the Executive's employment under this Agreement at any time for Cause. "Cause" shall exist for
such termination if Executive (i) is adjudicated guilty of a felony by a court of competent jurisdiction, (ii) commits any act
of fraud or intentional misrepresentation in connection with his employment by the Company, (iii) has, in the reasonable judgment
of, and after a good faith investigation by, the Company, (a) engaged in serious and willful misconduct, which conduct has, or
would if generally known, materially adversely affect the goodwill or reputation of the Company and which conduct the Executive
has not cured or altered to the satisfaction of the Board of Directors within ten (10) days following written notice by the Company
to the Executive regarding such conduct, or (b) willfully and intentionally failed to perform his duties as specified to him by
the Board of Directors, which failure the Executive has not cured or rectified to the satisfaction of the Board of Directors within
ten (10) days following written notice by the Company, or (iv) has made any material misrepresentation to the Company under Paragraphs
4 and 5 hereof.

 

6.2           If
the Company terminates the Executive's employment under this Agreement pursuant to the provisions of Paragraph 6.1 hereof, the
Executive shall not be entitled to receive any compensation following the date of such termination.

 

    	 	4	 

     

    

 

6.3           If
Executive’s employment is terminated for any reason (whether by Executive or the Company) within thirty (30) days following
a change in Control of the Company (as defined below), Executive shall be entitled to the benefits provided in Section 6.5 below.
For purposes of this Agreement, a change in Control of the Company’
shall mean, , a cumulative change in the identity of a majority of the
members of the Company’s Board of Directors (provided, however, that the appointment of a new director upon the death or
resignation of a director by the remaining directors then in office shall not constitute a change in identity with respect to such
departed director).

 

6.5           Executive's
employment may be terminated by the Company "without cause" (for any reason or no reason at all) at any time by giving
Executive sixty (60) days prior written notice of termination, which termination shall be effective on the 60th day following such
notice. If Executive's employment under this Agreement is so terminated, the Company shall make a lump sum cash payment to Executive
on the date of termination of an amount equal to the remaining Base Salary payable through the remaining term. (i) a pro rata portion
of any Incentive Compensation, if any, earned for the year in which termination occurs prorated to the date of termination, plus
(ii) any unreimbursed expenses accruing to the date of termination. The Company shall also continue Executive’s benefits
through the remainder of the Term.

 

6.6           This Agreement shall
automatically terminate on the last day of the month in which Executive dies or becomes permanently incapacitated. "Permanent
incapacity" as used herein shall mean mental or physical incapacity, or both, reasonably determined by the Company's Board
of Directors based upon a certification of such incapacity by, in the discretion of the Company's Board of Directors, either Executive's
regularly attending physician or a duly licensed physician selected by the Company's Board of Directors, rendering Executive unable
to perform substantially all of his or her duties hereunder and which appears reasonably certain to continue for at least six consecutive
months without substantial improvement. Executive shall be deemed to have "become permanently incapacitated" on the date
the Company's Board of Directors has determined that Executive is permanently incapacitated and so notifies Executive. In the event
of a Termination under this Section 6.6, the provisions of Section 6.5 shall apply and the Company shall continue Executive’s
benefits, to the extent applicable, for members of Executive’s immediate family for the remainder of the Term.

 

6.7           Executive
may terminate his or her employment hereunder by giving the Company ten (10) days prior written notice, which termination shall
be effective on the 60th day following such notice. Voluntary termination shall not entitle the Executive to receive any compensation
following the date of termination.

 

6.8           At
the Company's option, Executive shall immediately leave the Company's premises on the date notice of termination is given by either
Executive or the Company. If the Company requests Executive to leave the Company following notice under Paragraph 6.6, it shall
fully compensate Executive (salary and benefits) through the 10th day following the date of Executive’s notice.

 

    	 	5	 

     

    

 

7.             MISCELLANEOUS.

 

7.1           The
Company may, from time to time, apply for and take out, in its own name and at its own expense, life, health, accident, disability
or other insurance upon the Executive in any sum or sums that it may deem necessary to protect its interests, and the Executive
agrees to aid and cooperate in all reasonable respects with the Company in procuring any and all such insurance, including without
limitation, submitting to the usual and customary medical examinations, and by filling out, executing and delivering such applications
and other instruments in writing as may be reasonably required by an insurance company or companies to which an application or
applications for such insurance may be made by or for the Company. In order to induce the Company to enter this Agreement, the
Executive represents and warrants to the Company that to the best of his knowledge the Executive is insurable at standard (non-rated)
premiums.

 

7.2           This
Agreement is a personal contract, and the rights and interests of the Executive hereunder may not be sold, transferred, assigned,
pledged or hypothecated except as otherwise expressly permitted by the provisions of this Agreement. The Executive shall not under
any circumstances have any option or right to require payment hereunder otherwise than in accordance with the terms hereof. Except
as otherwise expressly provided herein, the Executive shall not have any power of anticipation, alienation or assignment of payments
contemplated hereunder, and all rights and benefits of the Executive shall be for the sole personal benefit of the Executive, and
no other person shall acquire any right, title or interest hereunder by reason of any sale, assignment, transfer, claim or judgment
or bankruptcy proceedings against the Executive; provided, however, that in the event of the Executive's death, the Executive's
estate, legal representative or beneficiaries (as the case may be) shall have the right to receive all of the benefit that accrued
to the Executive pursuant to, and in accordance with, the terms of this Agreement.

 

7.3           The
Company shall have the right to assign this Agreement to any successor of substantially all of its business or assets, and any
such successor shall be bound by all of the provisions hereof.

 

8.            NOTICES.

 

All notices, requests, demands
and other communications provided for by this Agreement shall be in writing and (unless otherwise specifically provided herein)
shall be deemed to have been given at the time when mailed in any general or branch United States Post Office, enclosed in a registered
or certified postpaid envelope, addressed to the parties stated below or to such changed address as such party may have fixed by
notice:

 

	To the COMPANY:	Naturalnano, Inc.
	 	Attn:  Board of Directors
	 	13613 Gulf Boulevard
	 	Madeira Beach, Florida 33738

 

    	 	6	 

     

    

 

	Executive:	Linda Giampietro
	 	 
	 	______________
	 	 
	 	______________

 

9.            ENTIRE
AGREEMENT.

 

This Agreement supersedes
any and all Agreements, whether oral or written, between the parties hereto, with respect to the employment of Executive by the
Company and contains all of the covenants and Agreements between the parties with respect to the rendering of such services in
any manner whatsoever. Each party to this Agreement acknowledges that no representations, inducements, promises or agreements,
orally or otherwise, have been made by any party, or anyone acting on behalf of any party, which are not embodied herein, and that
no other agreement, statement or promise with respect to such employment not contained in this Agreement shall be valid or binding.
Any modification of this Agreement will be effective only if it is in writing and signed by the parties hereto.

 

10.          PARTIAL
INVALIDITY.

 

If any provision in this
Agreement is held by a court of competent jurisdiction to be invalid, void, or unenforceable, the remaining provisions shall nevertheless
continue in full force and effect without being impaired or invalidated in any way.

 

11.          ATTORNEYS'
FEES.

 

Should any litigation or
arbitration be commenced between the parties hereto or their personal representatives concerning any provision of this Agreement
or the rights and duties of any person in relation thereto, the party prevailing in such litigation or arbitration shall be entitled,
in addition to such other relief as may be granted, to a reasonable sum as and for its or their attorneys' fees in such litigation
or arbitration which shall be determined by the court or arbitration board.

 

12.          ARBITRATION.

 

The parties agree that any
disputes arising under this Agreement shall be resolved in as expeditious a manner as possible through binding arbitration administered
by JAMS in New York City, or such other place which is mutually agreed upon by the parties. Further, the parties hereby waive any
objection based on personal jurisdiction, venue or forum non conveniens in any arbitration or action brought under this paragraph.
The decision and award rendered by the arbitrators shall be final and binding. Judgment upon the award may be entered in any court
having jurisdiction thereof.

 

    	 	7	 

     

    

 

13.          GOVERNING
LAW.

 

This Agreement will be governed
by and construed in accordance with the laws of the State of Florida.

 

14.          BINDING
NATURE.

 

This Agreement shall be binding
upon and inure to the benefit of the parties hereto and their respective representatives, heirs, successors and assigns.

 

15.          WAIVER.

 

No waiver of any of the provisions
of this Agreement shall be deemed, or shall constitute a waiver of any other provision, whether or not similar, nor shall any waiver
constitute a continuing waiver. No waiver shall be binding unless executed in writing by the party making the waiver.

 

16.          CORPORATE
APPROVALS.

 

The Company represents and
warrants that the execution of this Agreement by its corporate officer named below has been duly authorized by the Board of Directors
of the Company, is not in conflict with any Bylaw or other agreement and will be a binding obligation of the Company, enforceable
in accordance with its terms.

 

IN WITNESS WHEREOF,
the parties hereto have executed this Agreement the 16th day of February, 2017.

 

	THE COMPANY:	NATURALNANO, INC.	 
	 	 	 	 
	 	By:	/s/	 
	 	Name:	Colm Wrynn	 
	 	Its:	President	 
	 	 	 	 
	 	/s/	 
	 	LINDA GIAMPIETRO	 

 

    	 	8Exhibit

Exhibit 10.2
INDEMNIFICATION AGREEMENT (“Agreement”)
 between
FEDERAL NATIONAL MORTGAGE ASSOCIATION
("Fannie Mae"), and (“Indemnitee")
WHEREAS, the inability to attract and retain qualified persons as directors and officers is detrimental to the best interests of Fannie Mae’s stockholders and Fannie Mae should act to assure such persons that there will be adequate certainty of protection through insurance and indemnification against risks of claims and actions against them arising out of their service to and activities on behalf of Fannie Mae; and
WHEREAS, Fannie Mae has adopted provisions in its By-laws providing for indemnification of its officers and directors to the fullest extent permitted by applicable law, and Fannie Mae wishes to clarify and enhance the rights and obligations of Fannie Mae and Indemnitee with respect to indemnification; and
WHEREAS, Fannie Mae has elected to follow the corporate governance practices and procedures of the Delaware General Corporation Law, as the same may be amended from time to time; and 
WHEREAS, in order to induce and encourage highly experienced and capable persons such as Indemnitee to serve and continue to serve as directors and officers of Fannie Mae and in any other capacity with respect to Fannie Mae, and to otherwise promote the desirable end that such persons will resist what they consider unjustified lawsuits and claims made against them in connection with the good faith performance of their duties to Fannie Mae, with the knowledge that certain costs, judgments, penalties, fines, liabilities and expenses incurred by them in their defense of such litigation are to be borne by Fannie Mae and they will receive the maximum protection against such risks and liabilities as may be afforded by law; and
WHEREAS, Fannie Mae desires to have Indemnitee continue to serve as a director or officer of Fannie Mae and in such other capacity with respect to Fannie Mae as Fannie Mae may request, as the case may be, free from undue concern for unpredictable, inappropriate or unreasonable legal risks and personal liabilities by reason of Indemnitee acting in good faith in the performance of Indemnitee's duty to Fannie Mae; and Indemnitee desires to continue so to serve Fannie Mae, provided, and on the express condition, that he or she is furnished with the indemnity set forth hereinafter;
WHEREAS, the Federal Housing Finance Agency (“FHFA”) was appointed conservator of Fannie Mae on September 6, 2008;
Now, therefore, in consideration of Indemnitee's continued service as a director or officer of Fannie Mae, the parties hereto agree as follows: 

 1

1.    Service by Indemnitee.  Indemnitee will serve and/or continue to serve as a director or officer of Fannie Mae faithfully and to the best of Indemnitee's ability so long as Indemnitee is duly elected or appointed and until such time as Indemnitee is removed as permitted by law or tenders a resignation in writing.  
2.    Indemnification.  Fannie Mae shall indemnify Indemnitee to the fullest extent permitted by the Delaware General Corporation Law in effect on the date hereof or as such law may from time to time be amended (but, in the case of any such amendment, only to the extent that such amendment permits Fannie Mae to provide broader indemnification rights than said law permitted Fannie Mae to provide prior to such amendment).  Without diminishing the scope of the indemnification provided by this Section, the rights of indemnification of Indemnitee provided hereunder shall include but shall not be limited to those rights hereinafter set forth, except that no indemnification shall be paid to Indemnitee:
(a)    to the extent expressly prohibited by Delaware law;
(b)    for which payment is actually made to Indemnitee or for Indemnitee’s benefit under a valid and collectible insurance policy or under a valid and enforceable indemnity clause, by-law or agreement of Fannie Mae or any other company or organization on whose board Indemnitee serves at the request of Fannie Mae, except in respect of any indemnity exceeding the payment under such insurance, clause, by-law or agreement;
(c)    in connection with an action, suit or proceeding, or part thereof (including claims and counterclaims) initiated by Indemnitee, except a judicial proceeding or arbitration pursuant to Section 10 to enforce rights under this Agreement, unless the action, suit or proceeding (or part thereof) was authorized by the Board of Directors of Fannie Mae or, if there is no functioning Board of Directors, authorized by the CEO pursuant to a written opinion provided by Independent Counsel (defined below);
(d)    with respect to any action, suit or proceeding brought by or on behalf of Fannie Mae against Indemnitee that is authorized by the Board of Directors of Fannie Mae or, if there is no functioning Board of Directors, authorized by the CEO pursuant to a written opinion provided by Independent Counsel (defined below) except as provided in Sections 4, 5 and 6 below.
3.    Action or Proceedings Other than an Action by or in the Right of Fannie Mae.  Except as limited by Section 2 above, Indemnitee shall be entitled to the indemnification rights provided in this Section if Indemnitee is a party or is threatened to be made a party to any Proceeding (other than an action by or in the name of Fannie Mae) by reason of the fact that Indemnitee is or was a director, officer, employee or agent of Fannie Mae, or is or was serving at the request of Fannie Mae as a director, officer, employee or agent or fiduciary of any other entity (including, but not limited to, another corporation, partnership, joint venture or trust); or by reason of anything done or not done by Indemnitee in any such capacity.  Pursuant to this Section, Indemnitee shall be indemnified against all costs, judgments, penalties, fines, liabilities, amounts paid in settlement by or on behalf of Indemnitee, and Expenses (defined below) actually and reasonably incurred by Indemnitee in connection with such Proceeding, if Indemnitee acted 

 2

in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of Fannie Mae, and with respect to any criminal Proceeding, had no reasonable cause to believe his or her conduct was unlawful.
4.    Indemnity in Proceedings by or in the Name of Fannie Mae.  Except as limited by Section 2 above, Indemnitee shall be entitled to the indemnification rights provided in this Section if Indemnitee was or is a party or is threatened to be made a party to any Proceeding brought by or in the name of Fannie Mae to procure a judgment in its favor by reason of the fact that Indemnitee is or was a director, officer, employee or agent or fiduciary of Fannie Mae, or by reason of anything done or not done by Indemnitee in any such capacity.  Pursuant to this Section, Indemnitee shall be indemnified against all costs, judgments, penalties, fines, liabilities, amounts paid in settlement by or on behalf of Indemnitee, and Expenses actually and reasonably incurred by Indemnitee in connection with such 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 Fannie Mae; provided, however, that no such indemnification shall be made in respect of any claim, issue, or matter as to which Delaware law expressly prohibits such indemnification by reason of any adjudication of liability of Indemnitee to Fannie Mae, unless and only to the extent that the Court of Chancery of the State of Delaware or the court in which such action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, Indemnitee is entitled to indemnification for such costs, judgments, penalties, fines, liabilities and Expenses as such court shall deem proper.
5.    Indemnification for Costs, Charges and Expenses of Successful Party.  Notwithstanding the limitations of Section 2(d), 3 and 4 above, to the extent that Indemnitee has been successful, on the merits or otherwise, in whole or in part, in defense of any action, suit or proceeding (including an action, suit or proceeding brought by or on behalf of Fannie Mae) or in defense of any claim, issue or matter therein, including, without limitation, the dismissal of any action without prejudice, or if it is ultimately determined that Indemnitee is otherwise entitled to be indemnified against Expenses, Indemnitee shall be indemnified against all Expenses actually and reasonably incurred in connection therewith.
6.    Partial Indemnification.  If Indemnitee is entitled under any provision of this Agreement to indemnification by Fannie Mae for some or a portion of the costs, judgments, penalties, fines, liabilities or Expenses actually and reasonably incurred in connection with any action, suit or proceeding (including an action, suit or proceeding brought by or on behalf of Fannie Mae), but not, however, for all of the total amount thereof, Fannie Mae shall nevertheless indemnify Indemnitee for the portion of such costs, judgments, penalties, fines, liabilities and Expenses actually and reasonably incurred to which Indemnitee is entitled.
7.    Indemnification for Expenses of a Witness.  Notwithstanding any other provision of this Agreement, to the maximum extent permitted by applicable law, Indemnitee shall be entitled to indemnification against all Expenses actually and reasonably incurred or suffered by Indemnitee or on Indemnitee's behalf if Indemnitee appears as a witness or otherwise incurs legal expenses as a result of or related to Indemnitee's service as a director or officer of 

 3

Fannie Mae, in any threatened, pending or completed legal, administrative, investigative or other proceeding or matter to which Indemnitee neither is, nor is threatened to be made, a party.
8.    Determination of Entitlement to Indemnification.  Upon written request by Indemnitee for indemnification pursuant to Sections 3, 4, 5,  6 or  7 the entitlement of Indemnitee to indemnification, to the extent not provided pursuant to the terms of this Agreement, shall be determined by the following person or persons who shall be empowered to make such determination:  (a) the Board of Directors of Fannie Mae by a majority vote of Disinterested Directors (defined below), whether or not such majority constitutes a quorum; (b) a committee of Disinterested Directors designated by a majority vote of such directors, whether or not such majority constitutes a quorum; (c) if there are no Disinterested Directors, or if the Disinterested Directors so direct, by Independent Counsel (defined below) in a written opinion to the Board of Directors, a copy of which shall be delivered to Indemnitee; or (d) if there is no functioning Board of Directors, by Independent Counsel (defined below) pursuant to a written opinion provided to the CEO or, if it is the CEO that is seeking indemnification, to the Chief Compliance Officer.  Such Independent Counsel shall be selected by the Board of Directors or, if there is no functioning Board of Directors, by the CEO or, if it is the CEO that is seeking indemnification, by the Chief Compliance Officer, and approved by Indemnitee.  Upon failure of the Board, CEO, or Chief Compliance Officer, as applicable, so to select such Independent Counsel, or upon failure of Indemnitee so to approve, such Independent Counsel shall be selected upon application to a court of competent jurisdiction.  Such determination of entitlement to indemnification shall be made not later than 30 calendar days after receipt by Fannie Mae of a written request for indemnification.  Such request shall include documentation or information which is necessary for such determination and which is reasonably available to Indemnitee.  Any Expenses incurred by Indemnitee in connection with a request for indemnification or payment of Expenses hereunder, under any other agreement, any provision of Fannie Mae's By-laws or any directors' and officers' liability insurance, shall be borne by Fannie Mae.  Fannie Mae hereby indemnifies Indemnitee for any such Expense and agrees to hold Indemnitee harmless therefrom irrespective of the outcome of the determination of Indemnitee’s entitlement to indemnification.  If the person making such determination shall determine that Indemnitee is entitled to indemnification as to part (but not all) of the application for indemnification, such person shall reasonably prorate such partial indemnification among the claims, issues or matters at issue at the time of the determination.
9.    Presumptions and Effect of Certain Proceedings.  The Secretary of Fannie Mae shall, promptly upon receipt of Indemnitee’s request for indemnification, advise in writing the Board of Directors or such other person or persons empowered to make the determination as provided in Section 8 that Indemnitee has made such request for indemnification.  The Secretary of Fannie Mae shall also promptly notify the Conservator that such a request has been made.  Upon making such request for indemnification, Indemnitee shall be presumed to be entitled to indemnification hereunder and Fannie Mae shall have the burden of proof in making any determination contrary to such presumption.  If the person or persons so empowered to make such determination shall have failed to make the requested determination with respect to indemnification within 30 calendar days after receipt by Fannie Mae of such request, a requisite determination of entitlement to indemnification shall be deemed to have been made and 

 4

Indemnitee shall be absolutely entitled to such indemnification, absent actual and material fraud in the request for indemnification.  The termination of any Proceeding described in Sections 3 or 4 by judgment, order, settlement or conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself:  (a) 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 Fannie Mae, or, with respect to any criminal Proceeding, that Indemnitee had reasonable cause to believe that Indemnitee's conduct was unlawful; or (b) otherwise adversely affect the rights of Indemnitee to indemnification except as may be provided herein.
10.    Remedies of Indemnitee in Cases of Determination not to Indemnify or to Pay Expenses.  In the event that a determination is made that Indemnitee is not entitled to indemnification hereunder or if payment has not been timely made following a determination of entitlement to indemnification pursuant to Sections 8 and 9, or if Expenses are not paid pursuant to Section 15, Indemnitee shall be entitled to final adjudication in a court of competent jurisdiction of entitlement to such indemnification or payment from Fannie Mae.  Alternatively, Indemnitee at Indemnitee's option may seek an award in an arbitration to be conducted by a single arbitrator pursuant to the rules of the American Arbitration Association, such award to be made within sixty days following the filing of the demand for arbitration.  Fannie Mae shall not oppose Indemnitee’s right to seek any such adjudication or award in arbitration or any other claim.  The determination in any such judicial proceeding or arbitration shall be made de novo and Indemnitee shall not be prejudiced by reason of a determination (if so made) pursuant to Sections 8 or 9 that Indemnitee is not entitled to indemnification.  If a determination is made or deemed to have been made pursuant to the terms of Section 8 or 9 that Indemnitee is entitled to indemnification, Fannie Mae shall be bound by such determination and is precluded from asserting that such determination has not been made or that the procedure by which such determination was made is not valid, binding and enforceable.  Fannie Mae further agrees to stipulate in any such court or before any such arbitrator that Fannie Mae is bound by all the provisions of this Agreement and is precluded from making any assertions to the contrary.  If the court or arbitrator shall determine that Indemnitee is entitled to any indemnification or payment of Expenses hereunder, Fannie Mae shall pay all Expenses actually and reasonably incurred by Indemnitee in connection with such adjudication or award in arbitration (including, but not limited to, any appellate Proceedings).
11.    Other Rights to Indemnification.  Indemnification and payment of Expenses provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee may now or in the future be entitled under any provision of the By-laws or other organizational documents of Fannie Mae, vote of stockholders or Disinterested Directors, provision of law, agreement or otherwise.
12.    Expenses to Enforce Agreement.  In the event that Indemnitee is subject to or intervenes in any Proceeding in which the validity or enforceability of this Agreement is at issue or seeks an adjudication or award in arbitration to enforce Indemnitee's rights under, or to recover damages for breach of, this Agreement, Indemnitee, if Indemnitee prevails in whole or in part in such action, shall be entitled to recover from Fannie Mae and shall be indemnified by Fannie Mae against any actual Expenses incurred by Indemnitee.

 5

13.    Effective Date and Continuation of Indemnity.  This agreement shall be retroactive to and effective as of _____.  All agreements and obligations of Fannie Mae contained herein shall continue during the period Indemnitee is a director, officer, employee or agent of Fannie Mae or is serving at the request of Fannie Mae as a director, officer, employee or agent or fiduciary of any other entity (including, but not limited to, another corporation, partnership, joint venture or trust) of Fannie Mae and shall continue thereafter with respect to any possible claims based on the fact that Indemnitee was a director, officer employee or agent of Fannie Mae or was serving at the request of Fannie Mae as a director, officer, employee or agent or fiduciary of any other entity (including, but not limited to, another corporation, partnership, joint venture or trust).  This Agreement shall be binding upon all successors and assigns of Fannie Mae (including any transferee of all or substantially all of its assets and any successor by merger or operation of law) and shall inure to the benefit of the heirs, personal representatives and estate of Indemnitee.
14.    Notification and Defense of Claim.  Promptly after receipt by Indemnitee of notice of any Proceeding, Indemnitee will, if a claim in respect thereof is to be made against Fannie Mae under this Agreement, notify Fannie Mae in writing of the commencement thereof; but the omission so to notify Fannie Mae will not relieve it from any liability that it may have to Indemnitee.  Notwithstanding any other provision of this Agreement, with respect to any such Proceeding of which Indemnitee notifies Fannie Mae:
(a)    Fannie Mae shall be entitled to participate therein at its own expense; and
(b)    Except as otherwise provided in this Section 14(b), to the extent that it may wish, Fannie Mae, jointly with any other indemnifying party similarly notified, shall be entitled to assume the defense thereof, with counsel satisfactory to Indemnitee.  After notice from Fannie Mae to Indemnitee of its election so to assume the defense thereof, Fannie Mae shall not be liable to Indemnitee under this Agreement for any expenses of counsel subsequently incurred by Indemnitee in connection with the defense thereof except as otherwise provided below.  Indemnitee shall have the right to employ Indemnitee's own counsel in such Proceeding, but the fees and expenses of such counsel incurred after notice from Fannie Mae of its assumption of the defense thereof shall be at the expense of Indemnitee unless (i) the employment of counsel by Indemnitee has been authorized by Fannie Mae, (ii) Indemnitee shall have reasonably concluded that there may be a conflict of interest between Fannie Mae and Indemnitee in the conduct of the defense of such action or (iii) Fannie Mae shall not within 60 calendar days of receipt of notice from Indemnitee in fact have employed counsel to assume the defense of the action, in each of which cases the fees and expenses of Indemnitee's counsel shall be at the expense of Fannie Mae.  Fannie Mae shall not be entitled to assume the defense of any Proceeding brought by or on behalf of Fannie Mae or as to which Indemnitee shall have made the conclusion provided for in (ii) above; and
(c)    If Fannie Mae has assumed the defense of a Proceeding, Fannie Mae shall not be liable to indemnify Indemnitee under this Agreement for any amounts paid in settlement of any Proceeding effected without Fannie Mae's written consent.  Fannie Mae shall not 

 6

settle any Proceeding in any manner that would impose any penalty or limitation on or disclosure obligation with respect to Indemnitee without Indemnitee’s written consent.  Neither Fannie Mae nor Indemnitee will unreasonably withhold its consent to any proposed settlement.
15.    Payment of Expenses.  All Expenses incurred by Indemnitee in advance of the final disposition of any Proceeding shall be paid by Fannie Mae at the request of Indemnitee, each such payment to be made within twenty calendar days after the receipt by Fannie Mae of a statement or statements from Indemnitee requesting such payment or payments from time to time.  Indemnitee’s entitlement to such Expenses shall include those incurred in connection with any Proceeding by Indemnitee seeking a judgment in court or an adjudication or award in arbitration pursuant to this Agreement (including the enforcement of this provision).  Such statement or statements shall reasonably evidence the expenses and costs incurred by Indemnitee in connection therewith and shall include or be accompanied by an undertaking, in substantially the form attached as Exhibit 2, by or on behalf of Indemnitee to reimburse such amount if it is finally determined, after all appeals by a court of competent jurisdiction that Indemnitee is not entitled to be indemnified against such Expenses by Fannie Mae as provided by this Agreement or otherwise.  Indemnitee's undertaking to reimburse any such amounts is not required to be secured.  
16.    Separability; Prior Indemnification Agreements.  If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including without limitation, all portions of any paragraphs of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that are not by themselves invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby, and (b) to the fullest extent possible, the provisions of this Agreement (including, without limitation, all portions of any paragraph of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that are not themselves invalid, illegal or unenforceable) shall be construed so as to give effect to the intent of the parties that Fannie Mae provide protection to Indemnitee to the fullest enforceable extent.  This Agreement shall supersede and replace any prior indemnification agreements entered into by and between Fannie Mae and Indemnitee and any such prior agreements shall be terminated upon execution of this Agreement.
17.    Headings; References; Pronouns.  The headings of the sections of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the construction thereof.  References herein to section numbers are to sections of this Agreement.  All pronouns and any variations thereof shall be deemed to refer to the masculine, feminine, neuter, singular or plural as appropriate.
18.    Definitions.  For purposes of this Agreement:
(a)    “Disinterested Director” means an individual director of Fannie Mae who is (i) not or was not a party to the Proceeding in respect of which indemnification is being sought by Indemnitee and (ii) during a period of conservatorship, was a director of 

 7

Fannie Mae as of the effective date of the FHFA’s delegation of authority to the Board of Directors of Fannie Mae pursuant to the FHFA’s Order dated November 24, 2008, or was elected or approved by a majority of such directors in accordance with such Order.
(b)    "Expenses" includes, without limitation, expenses incurred in connection with the defense or settlement of any and all investigations, judicial or administrative proceedings or appeals, attorneys' fees, witness fees and expenses, fees and expenses of accountants and other advisors, retainers and disbursements and advances thereon, the premium, security for, and other costs relating to any bond (including cost bonds, appraisal bonds or their equivalents), and any expenses of establishing a right to indemnification under Sections 8, 10 and 12 above but shall not include the amount of judgments, fines or penalties actually levied against Indemnitee.
(c)    “Independent Counsel” means a law firm or a member of a law firm that neither is presently nor in the past five years has been retained to represent:  (i) Fannie Mae or Indemnitee in any matter material to either such party, or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder.  Notwithstanding the foregoing, the term “Independent Counsel” shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either Fannie Mae or Indemnitee in an action to determine Indemnitee’s right to indemnification under this Agreement.
(d)    "Proceeding" includes any threatened, pending or completed investigation (other than internal investigations of the conduct of Fannie Mae employees), action, suit or other proceeding, whether brought in the name of Fannie Mae or otherwise, against Indemnitee, for which indemnification is not prohibited under Sections 2(a)-(c) above and whether of a civil, criminal, administrative or investigative nature, including, but not limited to, actions, suits or proceedings in which Indemnitee may be or may have been involved as a party or otherwise, by reason of the fact that Indemnitee is or was a director, officer, employee or agent of Fannie Mae, or is or was serving, at the request of Fannie Mae, as a director, officer, employee or agent or fiduciary of any other entity, including, but not limited to, another corporation, partnership, joint venture or trust, or by reason of anything done or not done by Indemnitee in any such capacity, whether or not Indemnitee is serving in such capacity at the time any liability or expense is incurred for which indemnification or reimbursement can be provided under this Agreement.
19.    Other Provisions.
(a)    This Agreement shall be interpreted and enforced in accordance with the laws of Delaware.
(b)    This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute one and the same Agreement.  Only one such counterpart signed by the party against whom enforceability is sought needs to be produced as evidence of the existence of this Agreement.

 8

(c)    This agreement shall not be deemed an employment contract between Fannie Mae and any Indemnitee who is an officer of Fannie Mae, and, if Indemnitee is an officer of Fannie Mae, Indemnitee specifically acknowledges that Indemnitee may be discharged at any time for any reason, with or without cause, and with or without severance compensation, except as may be otherwise provided in a separate written contract between Indemnitee and Fannie Mae.
(d)    Upon a payment to Indemnitee under this Agreement, Fannie Mae shall be subrogated to the extent of such payment to all of the rights of Indemnitee to recover against any person for such liability, and Indemnitee shall execute all documents and instruments required and shall take such other actions as may be necessary to secure such rights, including the execution of such documents as may be necessary for Fannie Mae to bring suit to enforce such rights. 
(e)    No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by both 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.
(f)    Nothing in this Agreement shall be construed to permit indemnification expressly prohibited by 12 U.S.C. 4636.  
(g)    Notwithstanding any provision to the contrary in this Agreement, indemnification for actions instituted by the Agency will be governed by the standards set forth in the Agency’s Notice of Proposed Rulemaking, transmitted to the Federal Register on November 6, 2008, implementing 12 USC 4518.      
(h)    Nothing in this Agreement is intended to, or shall be construed to, create in any way any liability or obligation on the part of the United States or any department or agency thereof under or in any provision of this Agreement, it being the intention of Fannie Mae and Indemnitee that the obligations undertaken by Fannie Mae hereunder are the sole and exclusive responsibility of Fannie Mae.
(i)    In the event conservatorship is terminated, this Agreement shall remain in full force and effect.

 9

IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the day and year written below.

FEDERAL NATIONAL MORTGAGE ASSOCIATION

By ________________________________
Chairman of the Board                
                    
                    

                                                                        
Indemnitee

____________________________________
Date    

 10

EXHIBIT 1
THE FOLLOWING IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE LEGAL ADVICE

Delaware General Corporation Law
Title 8, § 145 (December 2002) 

§ 145. Indemnification of officers, directors, employees and agents; insurance. 
(a) A corporation shall have power to indemnify any person who was or is 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 corporation) by reason of the fact that the person is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation 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 actually and reasonably incurred by the person in connection with such action, suit or proceeding if the person acted in good faith and in a manner the person reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe the person'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 the person did not act in good faith and in a manner which the person reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal action or proceeding, had reasonable cause to believe that the person's conduct was unlawful.
(b) A corporation shall have power to indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the corporation to procure a judgment in its favor by reason of the fact that the person is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against expenses (including attorneys' fees) actually and reasonably incurred by the person in connection with the defense or settlement of such action or suit if the person acted in good faith and in a manner the person reasonably believed to be in or not opposed to the best interests of the corporation and except that no indemnification shall be made in respect of any claim, issue or matter as to which such person shall have been adjudged to be liable to the corporation unless and only to the extent that the Court of Chancery or the court in which such action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such person is 

1

fairly and reasonably entitled to indemnity for such expenses which the Court of Chancery or such other court shall deem proper.
(c) To the extent that a present or former director or officer of a corporation has been successful on the merits or otherwise in defense of any action, suit or proceeding referred to in subsections (a) and (b) of this section, or in defense of any claim, issue or matter therein, such person shall be indemnified against expenses (including attorneys' fees) actually and reasonably incurred by such person in connection therewith. 
(d) Any indemnification under subsections (a) and (b) of this section (unless ordered by a court) shall be made by the corporation only as authorized in the specific case upon a determination that indemnification of the present or former director, officer, employee or agent is proper in the circumstances because the person has met the applicable standard of conduct set forth in subsections (a) and (b) of this section. Such determination shall be made, with respect to a person who is a director or officer at the time of such determination, (1) by a majority vote of the directors who are not parties to such action, suit or proceeding, even though less than a quorum, or (2) by a committee of such directors designated by majority vote of such directors, even though less than a quorum, or (3) if there are no such directors, or if such directors so direct, by independent legal counsel in a written opinion, or (4) by the stockholders. 
(e) Expenses (including attorneys' fees) incurred by an officer or director in defending any civil, criminal, administrative or investigative action, suit or proceeding may be paid by the corporation in advance of the final disposition of such action, suit or proceeding upon receipt of an undertaking by or on behalf of such director or officer to repay such amount if it shall ultimately be determined that such person is not entitled to be indemnified by the corporation as authorized in this section. Such expenses (including attorneys' fees) incurred by former directors and officers or other employees and agents may be so paid upon such terms and conditions, if any, as the corporation deems appropriate. 
(f) The indemnification and advancement of expenses provided by, or granted pursuant to, the other subsections of this section shall not be deemed exclusive of any other rights to which those seeking indemnification or advancement of expenses may be entitled under any bylaw, agreement, vote of stockholders or disinterested directors or otherwise, both as to action in such person's official capacity and as to action in another capacity while holding such office. 
(g) A corporation shall have power to purchase and maintain insurance on behalf of any person who is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against any liability asserted against such person and incurred by such person in any such capacity, or arising out of such person's status as such, whether or not the corporation would have the power to indemnify such person against such liability under this section. 

2

(h) For purposes of this section, references to "the corporation" 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 any person who 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, shall stand in the same position under this section with respect to the resulting or surviving corporation as such person would have with respect to such constituent corporation if its separate existence had continued. 
(i) For purposes of this section, references to "other enterprises" shall include employee benefit plans; references to "fines" shall include any excise taxes assessed on a person with respect to any employee benefit plan; and references to "serving at the request of the corporation" shall include any service as a director, officer, employee or agent of the corporation which imposes duties on, or involves services by, such director, officer, employee or agent with respect to an employee benefit plan, its participants or beneficiaries; and a person who acted in good faith and in a manner such person reasonably believed to be in the interest of the participants and beneficiaries of an employee benefit plan shall be deemed to have acted in a manner "not opposed to the best interests of the corporation" as referred to in this section. 
(j) The indemnification and advancement of expenses provided by, or granted pursuant to, this section shall, unless otherwise provided when authorized or ratified, continue as to a person who has ceased to be a director, officer, employee or agent and shall inure to the benefit of the heirs, executors and administrators of such a person. 
(k) The Court of Chancery is hereby vested with exclusive jurisdiction to hear and determine all actions for advancement of expenses or indemnification brought under this section or under any bylaw, agreement, vote of stockholders or disinterested directors, or otherwise. The Court of Chancery may summarily determine a corporation's obligation to advance expenses (including attorneys' fees).  
 
HISTORY: 8 Del. C. 1953, § 145; 56 Del. Laws, c. 50; 56 Del. Laws, c. 186, § 6; 57 Del. Laws, c. 421, § 2; 59 Del. Laws, c. 437, § 7; 63 Del. Laws, c. 25, § 1; 64 Del. Laws, c. 112, § 7; 65 Del. Laws, c. 289, §§ 3-6; 67 Del. Laws, c. 376, § 3; 69 Del. Laws, c. 261, §§ 1, 2; 70 Del. Laws, c. 186, § 1; 71 Del. Laws, c. 120, §§ 3-11.  

3

EXHIBIT 2—VERSION 1
UNDERTAKING TO REPAY INDEMNIFICATION EXPENSES

I ___________________________________________________, agree to reimburse Federal National Mortgage Association ("Fannie Mae") for all expenses paid to me by Fannie Mae for my defense in any civil or criminal action, suit, or proceeding, in the event, and to the extent that it shall ultimately be determined that I am not entitled to be indemnified by Fannie Mae for such expenses. 

Signature _____________________________

Typed Name __________________________

Office _______________________________

DISTRICT OF COLUMBIA ) ss:

Before me ______________________, on this day personally appeared ___________________, known to me to be the person whose name is subscribed to the foregoing instrument, and who, after being duly sworn, stated that the contents of said instrument is to the best of his/her knowledge and belief true and correct and who acknowledged that he/she executed the same for the purpose and consideration therein expressed.

GIVEN under my hand and official seal at Washington, D.C., this _______ day of ___________, 20__. 

________________________________
Notary Public

My commission expires:

EXHIBIT 2—VERSION 2

UNDERTAKING TO REPAY INDEMNIFICATION EXPENSES

I, ___________________________________________________, agree to reimburse Federal National Mortgage Association ("Fannie Mae") for all expenses advanced by Fannie Mae for my defense in any administrative, civil or criminal action, suit, proceeding or investigation, in the event, and to the extent that it shall ultimately be determined that I am not entitled to be indemnified by Fannie Mae for such expenses. 

Signature _____________________________

Typed Name __________________________

Office _______________________________

STATE OF                     )
) ss.
CITY OR COUNTY OF             )

Before me _______________________________________, on this day personally appeared _________________________, known to me to be the person whose name is subscribed to the foregoing instrument, and who, after being duly sworn, stated that the contents of said instrument is to the best of his/her knowledge and belief true and correct and who acknowledged that he/she executed the same for the purpose and consideration therein expressed.

GIVEN under my hand and official seal at ______________________, this _______ day of ______________, 20____. 

________________________________
Notary Public

My commission expires:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00266-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00266-of-00352.parquet"}]]