Document:

Exhibit 4.9

 

CERTIFICATE OF
AMENDMENT

OF

RESTATED CERTIFICATE OF INCORPORATION

OF

SOUTHERN PERU COPPER CORPORATION

 

Southern Peru Copper Corporation (the “Corporation”), a
corporation organized and existing under and by virtue of the General
Corporation Law of the State of Delaware (“DGCL”), DOES HEREBY CERTIFY:

 

1.  The name of the corporation is Southern Peru Copper
Corporation.

 

2.  The Restated Certificate of Incorporation (the “Charter”)
of the Corporation is hereby amended by striking out the first sentence of Section 4.1
of Article FOUR of the Charter and by substituting in lieu of said Section of
Article FOUR the following new Section:

 

“4.1 Authorized Shares.  The total
number of shares of capital stock which the Corporation shall have authority to
issue is 167,207,640 shares, par value one cent ($0.01) per share.”

 

3.  The Charter is hereby amended by striking out the first
sentence of Section 4.2 of Article FOUR of the Charter and by
substituting in lieu of said Section of Article FOUR the following
new Section:

 

“4.2 Designation and Amounts.  (a) The
two series of capital stock of the Corporation shall consist of 65,900,833
shares of Class A Common Stock, par value one cent ($0.01) per share (the “Class A
Common Stock”), and 101,306,807 shares of Common Stock, par value one cent
($0.01) per share (the “Common Stock”).”

 

4.  The Charter is hereby amended by adding a new Article EIGHT
and Article NINE to read as follows:

 

“ARTICLE EIGHT

 

SPECIAL NOMINATING
COMMITTEE

 

8.1 Definitions.  As used in this ARTICLE EIGHT
and ARTICLE NINE, the following terms have the following meanings:

 

(a) “Effective Time” shall having the
meaning ascribed to it in the Agreement and Plan of Merger by and among
Southern Peru Copper Corporation, SPCC Merger Sub, Inc., Americas Sales
Company, Inc., Americas Mining Corporation and Minera México, S.A. de
C.V., dated as of October 21, 2004.

 

 

(b) “Founding Stockholder” shall have
the meaning ascribed to it in Section 4.9(a).

 

(c) “Independent Director” means a
director who satisfies the independence requirements of the New York Stock
Exchange Listed Company Manual, or, if the principal United States listing of
the Common Shares is on another United States securities exchange or
inter-dealer quotation system of a registered national securities association,
the equivalent requirements of the applicable rules and regulations of
that exchange or association.

 

(d) “Public Stockholders” shall mean all
holders of Common Shares, other than Grupo México, S.A. de C.V. (“Grupo México”)
and its affiliates.

 

(e) “Special Independent Director” means
a director who (a) is an Independent Director, and (b) has been
nominated by the Special Nominating Committee of the Corporation in accordance
with the provisions of this ARTICLE EIGHT; provided, however,
that any director nominated by a Founding Stockholder other than Grupo México
in accordance with the provisions of the Stockholders Agreement shall be deemed
a Special Independent Director (any such director, a “Stockholder Designee”).

 

(f) “Stockholders Agreement” means that
certain Agreement Among Certain Stockholders of Southern Peru Copper
Corporation, dated as of January 2, 1996, as amended by the First
Amendment to the Agreement Among Certain Stockholders of Southern Peru Copper
Corporation, dated January 11, 2001, as such agreement may be amended from
time to time.

 

8.2 Board of Directors.  The Board of Directors shall at
all times include a number of Special Independent Directors that is equal to or
greater than the Minimum Number of Special Independent Directors (as defined in
Paragraph 8.4). Special Independent Directors may only be removed from the
Board of Directors for cause, by resolution passed at any meeting of the Board
of Directors in the manner provided in the Bylaws.

 

8.3 Powers.  Effective as of the Effective
Time, the Corporation shall have a special nominating committee (the “Special
Nominating Committee”). Subject to Paragraph 8.6 and in accordance with Section 141(a) of
the Delaware General Corporation Law (“DGCL”), the Special Nominating Committee
shall have the exclusive power and authority otherwise conferred upon the Board
of Directors to: (i) nominate persons to stand for election as Special
Independent Directors (other than the Stockholder Designees) at the next annual
meeting of stockholders (or special meeting

 

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of stockholders at which directors are to be elected) and to evaluate
candidates for such nominations; and (ii) fill any vacancy created by the
removal, resignation or retirement from the Board of Directors or the death of
any Special Independent Director (other than the Stockholder
Designees). The Special Nominating Committee shall, in accordance with Section 141(a) of
the DGCL, have the exclusive power and authority otherwise conferred upon the
Board of Directors to determine its own policies and procedures with regard to
the matters set forth in this ARTICLE EIGHT and to set forth such policies
and procedures in a committee charter.

 

8.4 Special Independent Directors.  The Special Nominating Committee
shall have the right to nominate the number of Special Independent Directors
(the “Minimum Number of Special Independent Directors”) that equals (a) a
number equal to the number of directors which shall constitute the entire Board
of Directors multiplied by (b) the percentage of Common Shares owned by
the Public Stockholders out of the aggregate Common Shares owned by all holders
of Common Shares as of the last day of the fiscal quarter immediately preceding
the date on which the Special Nominating Committee acts, rounded up to the
nearest whole number. At no time shall the aggregate number of persons
nominated as Special Independent Directors in accordance with Paragraph 8.3 and
Paragraph 8.4 and the number of
Stockholder Designees be less than two or greater than six.

 

8.5 Membership and Manner of Acting.

(a) The Special Nominating Committee
shall consist of three (3) directors of the Corporation, two (2) of
whom shall be Luis Miguel Palomino and Carlos Ruiz Sacristan (each of such two
directors, an “Initial Member” and together with their successors, “Special
Designees”) and such other director, who shall initially be Oscar Gonzalez
Rocha, as may be appointed by the Board of Directors (the “Board Designee”).
The Board of Directors shall designate annually the Board Designee, immediately
following the election of directors at the annual meeting of the Board of
Directors. The members of the Board of Directors who are Special Independent
Directors or Initial Members shall designate annually the Special Designees,
immediately following the election of directors at the annual meeting of the
Board of Directors. Any vacancy on the Special Nominating Committee resulting
from the removal, resignation, retirement or death of either an Initial Member
or a Special Independent Director shall be filled only by a Special Independent
Director. Any Designee may be removed at any time for cause, by resolution
passed at any meeting of the Board of Directors in the manner provided in the Bylaws.

 

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(b) At all meetings of the Special
Nominating Committee the presence of all members shall be necessary and
sufficient to constitute a quorum for the transaction of business, and the
unanimous vote of all members of the Special Nominating Committee shall be
necessary for the adoption of any resolution or the taking of any action.

 

8.6 Alternative Nominating
Procedures.  Notwithstanding
the foregoing provisions of this ARTICLE EIGHT, the power and authority of
the Special Nominating Committee to nominate persons to stand for election as
Special Independent Directors shall be subject to:

 

(a) the rights
of the stockholders of the Corporation to make nominations in compliance with
the procedures set forth in the Bylaws; and

 

(b) the rights
of the Founding Stockholders to nominate Stockholders Designees.

 

8.7 Amendment of ARTICLE EIGHT.  The provisions of this ARTICLE EIGHT
may only be amended by the affirmative vote of a majority of the Public
Stockholders (calculated without giving effect to any super majority voting
rights of the holders of the Class A Common Stock
pursuant to Paragraph 4.7(a)).”

 

“ARTICLE NINE

 

AFFILIATE TRANSACTION
REVIEW

 

The Corporation shall not engage in any
Material Affiliate Transaction unless it has been the subject of prior review
by a committee of the Board of Directors with at least three members, each of
whom is an Independent Director (any such committee, an “Affiliate Transactions
Committee”). For purposes of this ARTICLE NINE, a “Material Affiliate
Transaction” shall mean any transaction, business dealing or material financial
interest in any transaction, or any series of related transactions, between
Grupo México or one of its affiliates (other than the Corporation or any of the
Corporation’s subsidiaries), on the one hand, and the Corporation or one of the
Corporation’s subsidiaries, on the other hand, that involves consideration of
more than $10,000,000 in the aggregate.”

 

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5.  At the special meeting of stockholders of the Corporation
held on March 28, 2005, pursuant to resolution of the Board of Directors,
the above specified amendments to the Charter were duly adopted in accordance
with the provisions of Section 242 of the General Corporation Law of the
State of Delaware.

 

6.  The amendments to the Charter specified herein shall
become effective at 11:59 p.m. on March 31, 2005.

 

 

[Signature Page Follows]

 

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Executed on this 28th day of March, 2005.

 

 

	
   

  	
  SOUTHERN PERU COPPER
  CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ OSCAR GONZÁLEZ ROCHA

  	
   

  
	
   

  	
  Name: Oscar González Rocha

  
	
   

  	
  Title: President/CEO

  

 

6Exhibit 10.16

 

INDEMNIFICATION AGREEMENT

 

THIS
INDEMNIFICATION AGREEMENT is made and entered into
this 15th day of March, 2005 (“Agreement”), by and between VeriFone Holdings,
Inc., a Delaware corporation (the “Company”), and [             ]
(“Indemnitee”).

 

WHEREAS,
at the request of the Company, Indemnitee currently serves or has been asked to
serve as a director of the Company and may, therefore, be subjected to claims,
suits or proceedings arising as a result of his service; and

 

WHEREAS,
as an inducement to Indemnitee to serve or to continue to serve as a director,
the Company has agreed to indemnify and to advance expenses and costs incurred
by Indemnitee in connection with any such claims, suits or proceedings, to the
maximum extent permitted by law; and

 

WHEREAS,
the parties by this Agreement desire to set forth their agreement regarding
indemnification and advance of expenses;

 

NOW,
THEREFORE, in consideration of the premises and the
covenants contained herein, the Company and Indemnitee do hereby covenant and
agree as follows:

 

Section 1.               Definitions.  For purposes of this Agreement:

 

(a) “Change in Control” means a change in
control of the Company occurring after the Effective Date of a nature that
would be required to be reported in response to Item 6(e) of Schedule 14A
of Regulation 14A (or in response to any similar item on any similar schedule or
form) promulgated under the Securities Exchange Act of 1934, as amended (the “Act”),
whether or not the Company is then subject to such reporting requirement;
provided, however, that, without limitation, such a Change in Control shall be
deemed to have occurred if after the Effective Date (i) any “person” (as such
term is used in Sections 13(d) and 14(d) of the Act) is or becomes the “beneficial
owner” (as defined in Rule 13d-3 under the Act), directly or indirectly, of
securities of the Company representing 15% or more of the combined voting power
of the Company’s then outstanding securities without the prior approval of at
least two-thirds of the members of the Board of Directors in office immediately
prior to such person attaining such percentage interest; (ii) there occurs a
proxy contest, or the Company is a party to a merger, consolidation, sale of
assets, plan of liquidation or other reorganization not approved by at least
two-thirds of the members of the Board of Directors then in office, as a
consequence of which members of the Board of Directors in office immediately
prior to such transaction or event constitute less than a majority of the Board
of Directors thereafter; or (iii) during any period of two consecutive years,
other than as a result of an event described in clause (a)(ii) of this Section 1,
individuals who at the beginning of such period constituted the Board of
Directors (including for this purpose any new director whose election 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 were directors at
the beginning of such period) cease for any reason to constitute at least a
majority of the Board of Directors.

 

 

(b) “Corporate Status” means the status of a
person who is or was a director, trustee, officer, employee or agent of the
Company or of any other corporation, partnership, joint venture, trust,
employee benefit plan or other enterprise (each, an “Enterprise”) for which
such person is or was serving at the request of the Company.

 

(c) “Disinterested Director” means a
director of the Company who is not and was not a party to the Proceeding in respect
of which indemnification or advance of Expenses is sought by Indemnitee.

 

(d) “Effective Date” means the date set
forth in the first paragraph of this Agreement.

 

(e) “Expenses” shall include all reasonable
and out-of-pocket attorneys’ fees, retainers, court costs, transcript costs,
fees of experts, witness fees, travel expenses, duplicating costs, printing and
binding costs, telephone charges, postage, delivery service fees, and all other
disbursements or expenses of the types customarily incurred in connection with
prosecuting, defending, preparing to prosecute or defend, investigating, or
being or preparing to be a witness in a Proceeding.  Expenses shall also include Expenses incurred
in connection with any appeal resulting from any Proceeding, including without
limitation the premiums, security for, and other costs relating to any cost
bond, supersedeas bond or other appeal bond or its equivalent.

 

(f) “Independent Counsel” means a law firm,
or a member of a law firm, that is experienced in matters of corporation law
and neither is, nor in the past five years has been, retained to
represent:  (i) the Company or Indemnitee
in any matter material to either such party (other than with respect to matters
concerning Indemnitee under this Agreement or of other indemnitees under
similar agreements), or (ii) any other party to or witness in 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 the Company or Indemnitee in an
action to determine Indemnitee’s rights under this Agreement.  If a Change of Control has not occurred,
Independent Counsel shall be selected by the Board of Directors, with the
approval of Indemnitee, which approval will not be unreasonably withheld.  If a Change of Control has occurred,
Independent Counsel shall be selected by Indemnitee.

 

(g) “Proceeding” includes any threatened,
pending or completed action, suit, arbitration, alternate dispute resolution
mechanism, investigation, administrative hearing or any other proceeding,
whether civil, criminal, administrative or investigative (including on appeal),
except one pending or completed on or before the Effective Date, unless
otherwise specifically agreed in writing by the Company and Indemnitee.

 

(h) Reference to “fines” shall include any excise tax
assessed with respect to any employee benefit plan; references to “serving at
the request of the Company” shall include any service as an officer, director,
committee member or official which imposes duties on, or involves services by,
such officer, with respect to an employee benefit plan, its participants or
beneficiaries; and action taken or omitted to be taken by Indemnitee with
respect to an employer benefit plan in the performance of Indemnitee’s duties
for a purpose reasonably believed to be in the best interests of the
participants and

 

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beneficiaries of an employee benefit plan
shall be deemed to be a purpose that is” “not opposed to the best interests of
the Company” as referred to in this Agreement.

 

Section 2.               Services by
Indemnitee.  Indemnitee will serve as a director of the
Company; however, this Agreement shall not impose any obligation on Indemnitee
or the Company to continue Indemnitee’s service to the Company beyond any
period otherwise required by law or by other agreements or commitments of the
parties, if any, provided that this Agreement shall continue in force after
such time as Indemnitee has ceased to serve as a director of the Company and
Indemnitee will retain all rights provided under this Agreement after such
time.

 

Section 3.               Indemnification
- General.  The Company shall indemnify, and advance
Expenses to, Indemnitee (a) as provided in this Agreement and (b) otherwise to
the maximum extent permitted by Delaware law in effect on the date hereof and
as amended from time to time; provided, however, that no change in Delaware law
shall have the effect of reducing the benefits available to Indemnitee
hereunder based on Delaware law as in effect on the date hereof.  The rights of Indemnitee provided in this Section 3
shall include, without limitation, the rights set forth in the other sections
of this Agreement, including any additional indemnification permitted by Section 145
of the Delaware General Corporation Law (“DGCL”), the charter or bylaws of the
Company, a resolution of stockholders or directors, another agreement or
otherwise.

 

Section 4.               Proceedings
Other Than Proceedings by or in the Right of the Company.  Indemnitee shall be entitled to the rights of
indemnification provided in this Section 4 if, by reason of his Corporate Status,
he is, or is threatened to be, made a party to or a witness in any threatened,
pending, or completed Proceeding, other than a Proceeding by or in the right of
the Company.  Pursuant to this Section 4,
Indemnitee shall be indemnified against all judgments, penalties, fines and
amounts paid in settlement and all Expenses actually and reasonably incurred by
him or on his behalf in connection with a Proceeding by reason of his Corporate
Status unless it is established that (i) the act or omission of Indemnitee was
material to the matter giving rise to the Proceeding, was committed in bad
faith and in a manner in which the indemnitee did not reasonably believe was in
(or not opposed to) the best interests of the Company, or (ii) in the case of
any criminal Proceeding, Indemnitee had reasonable cause to believe that his
conduct was unlawful.

 

Section 5.               Proceedings by
or in the Right of the Company.  Indemnitee shall be
entitled to the rights of indemnification provided in this Section 5 if,
by reason of his Corporate Status, he is, or is threatened to be, made a party
to or a witness in any threatened, pending or completed Proceeding brought by
or in the right of the Company to procure a judgment in its favor.  Pursuant to this Section 5, Indemnitee
shall be indemnified against all amounts paid in settlement and all Expenses
actually and reasonably incurred by him or on his behalf in connection with
such Proceeding unless it is established that the act or omission of Indemnitee
was material to the matter giving rise to such a Proceeding, was committed in
bad faith and in a manner in which the indemnitee did not reasonably believe
was in (or not opposed to) the best interests of the Company.

 

Section 6.               Court-Ordered
Indemnification.  Notwithstanding any other provision of this
Agreement, a court of appropriate jurisdiction, upon application of Indemnitee
and such notice as the court shall require, may order indemnification in the
following circumstances:

 

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(a) if it determines
Indemnitee is entitled to reimbursement under Section 145 of the DGCL, the
court shall order indemnification, in which case Indemnitee shall be entitled
to recover the expenses of securing such reimbursement; or

 

(b) if it determines
that Indemnitee is fairly and reasonably entitled to indemnification in view of
all the relevant circumstances, whether or not Indemnitee has met the standards
of conduct set forth in Section 145 of the DGCL, the court may order such
indemnification as the court shall deem proper. 
However, indemnification with respect to any Proceeding by or in the
right of the Company or in which liability shall have been adjudged in the
circumstances described in Section 145 of the DGCL shall be limited to
Expenses incurred by him or on his behalf in connection with a Proceeding.

 

Section 7.               Indemnification
for Expenses of a Party Who is Wholly or Partly Successful.  Notwithstanding any other provision of this
Agreement, and without limiting any such provision, to the extent that
Indemnitee is, by reason of his Corporate Status, made a party to and is
successful, on the merits or otherwise, in the defense of any Proceeding, he
shall be indemnified for all Expenses incurred by him or on his behalf in
connection therewith.  If Indemnitee is
not wholly successful in such Proceeding but is successful, on the merits or
otherwise, as to one or more but less than all claims, issues or matters in
such Proceeding, the Company shall indemnify Indemnitee under this Section 7
for all Expenses incurred by him or on his behalf in connection with each
successfully resolved claim, issue or matter, allocated on a reasonable and
proportionate basis.  For purposes of
this Section and without limitation, the termination of any claim, issue
or matter in such a Proceeding by dismissal, with or without prejudice, shall
be deemed to be a successful result as to such claim, issue or matter.

 

Section 8.               Advance of
Expenses.  Notwithstanding any provision herein to the
contrary, the Company shall advance all Expenses incurred by or on behalf of
Indemnitee in connection with any Proceeding (other than a Proceeding brought
to enforce indemnification under this Agreement, applicable law, the Charter or
Bylaws of the Company, any agreement or a resolution of the stockholders
entitled to vote generally in the election of directors or of the Board of
Directors) to which Indemnitee is, or is threatened to be, made a party or a
witness, within ten days after the receipt by the Company of a statement or
statements from Indemnitee requesting such advance or advances from time to
time, whether prior to or after final disposition of such Proceeding.  Such statement or statements shall reasonably
evidence the Expenses incurred by Indemnitee and shall include or be preceded
or accompanied by a written affirmation by Indemnitee of Indemnitee’s good
faith belief that the standard of conduct necessary for indemnification by the
Company as authorized by law and by this Agreement has been met and a written
undertaking by or on behalf of Indemnitee, in such form as the Company may from
time to time reasonably require or as may be required under applicable law as
in effect at the time of the execution thereof, to reimburse the portion of any
Expenses advanced to Indemnitee relating to claims, issues or matters in the
Proceeding as to which it shall ultimately be established that the standard of
conduct has not been met.  To the extent
that Expenses advanced to Indemnitee do not relate to a specific claim, issue
or matter in the Proceeding, such Expenses shall be allocated on a reasonable
and proportionate basis.  The undertaking
to reimburse Expenses required by this Section 8 shall be an unlimited
general obligation by or on behalf of Indemnitee and shall be accepted without
reference to Indemnitee’s financial ability to repay such advanced Expenses and
without any requirement to post security therefor.  Advances shall be unsecured and interest
free.

 

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Section 9.               Procedure for
Determination of Entitlement to Indemnification.

 

(a) To obtain
indemnification and payment of Expenses under this Agreement, Indemnitee shall
submit to the Company a written request, including therein or therewith such
documentation and information as is reasonably available to Indemnitee and is
reasonably necessary to determine whether and to what extent Indemnitee is
entitled to indemnification.  The
omission to notify the Company will not relieve the Company from any liability
that it may have to Indemnitee other than under this Agreement.  The Secretary of the Company shall, promptly
upon receipt of such a request for indemnification, advise the Board of
Directors in writing that Indemnitee has requested indemnification.

 

(b) Upon written
request by Indemnitee for indemnification pursuant to the first sentence of Section 9(a)
hereof, a determination, if required by applicable law, with respect to
Indemnitee’s entitlement thereto shall promptly be made in the specific case:
(i) if a Change in Control shall have occurred, by Independent Counsel in a
written opinion to the Board of Directors, a copy of which shall be delivered
to Indemnitee; or (ii) if a Change of Control shall not have occurred, (A) by
the Board of Directors (or a duly authorized committee thereof) by a majority
vote of a quorum consisting of Disinterested Directors (as herein defined), or
(B) if a quorum of the Board of Directors consisting of Disinterested Directors
is not obtainable or, even if obtainable, such quorum of Disinterested
Directors so directs, by Independent Counsel in a written opinion to the Board
of Directors, a copy of which shall be delivered to Indemnitee, or (C) if so
directed by a majority of the members of the Board of Directors, by the
stockholders of the Company.  If it is so
determined that Indemnitee is entitled to indemnification, payment to
Indemnitee shall be made within ten days after such determination.  Indemnitee shall cooperate with the person,
persons or entity making such determination with respect to Indemnitee’s
entitlement to indemnification, including providing to such person, persons or
entity upon reasonable advance request any documentation or information which
is not privileged or otherwise protected from disclosure and which is
reasonably available to Indemnitee and reasonably necessary to such
determination in the discretion of the Board of Directors or Independent
Counsel if retained pursuant to clause (ii)(B) of this Section 9.  Any Expenses incurred by Indemnitee in so
cooperating with the person, persons or entity making such determination shall
be borne by the Company (irrespective of the determination as to Indemnitee’s
entitlement to indemnification) and the Company shall indemnify and hold
Indemnitee harmless therefrom.

 

Section 10.             Presumptions and Effect of Certain Proceedings.

 

(a) In making a
determination with respect to entitlement to indemnification hereunder, the
person or persons or entity making such determination shall presume that
Indemnitee is entitled to indemnification under this Agreement if Indemnitee
has submitted a request for indemnification in accordance with Section 9(a)
of this Agreement, and the Company shall have the burden of proof to overcome
that presumption in connection with the making of any determination contrary to
that presumption.  Neither the failure of
the Company (including by its directors or independent legal counsel) to have
made a determination prior to the commencement of any action pursuant to this
Agreement that indemnification is proper in the circumstances because
Indemnitee has met the applicable standard of conduct, nor an actual
determination by the Company (including by its directors or independent legal
counsel)

 

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that Indemnitee has not met such applicable
standard of conduct, shall be a defense to the action or create a presumption
that Indemnitee has not met the applicable standard of conduct.

 

(b) The termination
of any Proceeding by judgment, order, settlement, conviction, a plea of nolo
contendere or its equivalent, or an entry of an order of probation prior
to judgment, does not create a presumption that Indemnitee did not meet the
requisite standard of conduct described herein for indemnification.

 

(c) Unless
Indemnitee has reason to believe otherwise, for purposes of any determination
of good faith, Indemnitee shall be deemed to have acted in good faith if
Indemnitee’s action is based on the records or books of account of the
Enterprise, including financial statements, or on information supplied to
Indemnitee by the officers of the Enterprise in the course of their duties, or
on the advice of legal counsel for the Enterprise or on information or records
given or reports made to the Enterprise by an independent certified public
accountant or by an appraiser or other expert selected with reasonable care by
the Enterprise.  The provisions of this Section 10(d)
shall not be deemed to be exclusive or to limit in any way the other
circumstances in which the Indemnitee may be deemed to have met the applicable
standard of conduct set forth in this Agreement.

 

(d) The knowledge
and/or actions, or failure to act, of any director, officer, agent or employee
of the Enterprise, excluding the Indemnitee, shall not be imputed to Indemnitee
for purposes of determining the right to indemnification under this Agreement.

 

Section 11.             Remedies of
Indemnitee.

 

(a) If (i) a
determination is made pursuant to Section 9 of this Agreement that
Indemnitee is not entitled to indemnification under this Agreement, (ii)
advance of Expenses is not timely made pursuant to Section 8 of this
Agreement, (iii) no determination of entitlement to indemnification shall have
been made pursuant to Section 9(b) of this Agreement within 20 days after
receipt by the Company of the request for indemnification, (iv) payment of
indemnification is not made pursuant to Section 7 of this Agreement within
ten days after receipt by the Company of a written request therefor, or (v)
payment of indemnification is not made within ten days after a determination
has been made that Indemnitee is entitled to indemnification, Indemnitee shall
be entitled to an adjudication in an appropriate court located in  the State of Delaware, or in any other court
of competent jurisdiction, of his entitlement to such indemnification or
advance of Expenses.  Alternatively,
Indemnitee, at his option, may seek an award in arbitration to be conducted by
a single arbitrator pursuant to the commercial Arbitration Rules of the
American Arbitration Association. 
Indemnitee shall commence such proceeding seeking an adjudication or an
award in arbitration within 180 days following the date on which Indemnitee
first has the right to commence such proceeding pursuant to this Section 11(a);
provided, however, that the foregoing clause shall not apply to a proceeding
brought by Indemnitee to enforce his rights under Section 7 of this
Agreement.

 

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(b)           In
any judicial proceeding or arbitration commenced pursuant to this Section 11
the Company shall have the burden of proving that Indemnitee is not entitled to
indemnification or advance of Expenses, as the case may be.

 

(c)           If
a determination shall have been made pursuant to Section 9(b) of this
Agreement that Indemnitee is entitled to indemnification, the Company shall be
bound by such determination in any judicial proceeding or arbitration commenced
pursuant to this Section 11, absent a misstatement by Indemnitee of a
material fact, or an omission of a material fact necessary to make Indemnitee’s
statement not materially misleading, in connection with the request for
indemnification.

 

(d) In the event
that Indemnitee, pursuant to this Section 11, seeks a judicial
adjudication of or an award in arbitration to enforce his rights under, or to
recover damages for breach of, this Agreement, Indemnitee shall be entitled to
recover from the Company, and shall be indemnified by the Company for, any and
all Expenses incurred by him in such judicial adjudication or arbitration.  If it shall be determined in such judicial
adjudication or arbitration that Indemnitee is entitled to receive part but not
all of the indemnification or advance of Expenses sought, the Expenses incurred
by Indemnitee in connection with such judicial adjudication or arbitration
shall be appropriately prorated.

 

Section 12.             Defense of the
Underlying Proceeding.

 

(a) Indemnitee shall
notify the Company promptly upon being served with or receiving any summons,
citation, subpoena, complaint, indictment, information, notice, request or
other document relating to any Proceeding which may result in the right to
indemnification or the advance of Expenses hereunder; provided, however, that
the failure to give any such notice shall not disqualify Indemnitee from the
right, or otherwise affect in any manner any right of Indemnitee, to
indemnification or the advance of Expenses under this Agreement unless the
Company’s ability to defend in such Proceeding or to obtain proceeds under any
insurance policy is materially and adversely prejudiced thereby, and then only
to the extent the Company is thereby actually so prejudiced.

 

(b) Subject to the
provisions of the last sentence of this Section 12(b) and of Section 12(c)
below, the Company shall have the right to defend Indemnitee in any Proceeding
which may give rise to indemnification hereunder; provided, however, that the
Company shall notify Indemnitee of any such decision to defend within 15
calendar days following receipt of notice of any such Proceeding under Section 12(a)
above.  The Company shall not, without
the prior written consent of Indemnitee, consent to the entry of any judgment
against Indemnitee or enter into any settlement or compromise which (i)
includes an admission of fault of Indemnitee or (ii) does not include, as an
unconditional term thereof, the full release of Indemnitee from all liability
in respect of such Proceeding, which release shall be in form and substance
reasonably satisfactory to Indemnitee. 
This Section 12(b) shall not apply to a Proceeding brought by
Indemnitee under Section 11 above or Section 18 below.

 

7

 

(c) Notwithstanding
the provisions of Section 12(b) above, if in a Proceeding to which
Indemnitee is a party by reason of Indemnitee’s Corporate Status, (i) Indemnitee
reasonably concludes, based upon an opinion of counsel to Indemnitee, that he
may have separate defenses or counterclaims to assert with respect to any issue
which may not be consistent with other defendants in such Proceeding, (ii)
Indemnitee reasonably concludes, based upon an opinion of counsel to
Indemnitee, that an actual or apparent conflict of interest or potential
conflict of interest exists between Indemnitee and the Company, or (iii) if the
Company fails to assume the defense of such Proceeding in a timely manner,
Indemnitee shall be entitled to be represented by separate legal counsel of
Indemnitee’s choice,  at the expense of
the Company.  In addition, if the Company
fails to comply with any of its obligations under this Agreement or in the event
that the Company or any other person takes any action to declare this Agreement
void or unenforceable, or institutes any Proceeding to deny or to recover from
Indemnitee the benefits intended to be provided to Indemnitee hereunder,
Indemnitee shall have the right to retain counsel of Indemnitee’s choice, at
the expense of the Company (subject to Section 11(d)), to represent
Indemnitee in connection with any such matter.

 

Section 13.             Non-Exclusivity;
Survival of Rights; Subrogation; Insurance.

 

(a) The rights of
indemnification and advance of Expenses as provided by this Agreement shall not
be deemed exclusive of any other rights to which Indemnitee may at any time be
entitled under applicable law, the Charter or Bylaws of the Company, any
agreement or a resolution of the stockholders entitled to vote generally in the
election of directors or of the Board of Directors, or otherwise.  No amendment, alteration or repeal of this
Agreement or of any provision hereof shall limit or restrict any right of
Indemnitee under this Agreement in respect of any action taken or omitted by
such Indemnitee in his Corporate Status prior to such amendment, alteration or
repeal.  To the extent that a change in
Delaware law, whether by statute or judicial decision, permits greater
indemnification or advancement of Expenses than would be afforded currently
under the Company’s charter or bylaws or this Agreement, except with respect to
suits against the Company relating to this Agreement, it is the intent of the
parties hereto that Indemnitee shall enjoy by this Agreement the greater
benefits so afforded by such change.  No
right or remedy herein conferred is intended to be exclusive of any other right
or remedy, and every other right and remedy shall be cumulative and in addition
to every other right and remedy given hereunder or now or hereafter existing at
law or in equity or otherwise.  The
assertion or employment of any right or remedy hereunder, or otherwise, shall
not prevent the concurrent assertion or employment of any other right or
remedy.

 

(b) In the event of
any 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 papers required and take all action necessary to secure such
rights, including execution of such documents as are necessary to enable the
Company to bring suit to enforce such rights.

 

(c) The Company
shall not be liable under this Agreement to make any payment of amounts
otherwise indemnifiable or payable or reimbursable as Expenses hereunder if and
to the extent that Indemnitee has otherwise actually received such payment
under any insurance policy, contract, agreement or otherwise.

 

8

 

(d)           Notwithstanding
any other provision of this Agreement to the contrary, the Company shall not be
liable for indemnification or advance of Expenses in connection with any
settlement or judgment for insider trading or for disgorgement of profits
pursuant to Section 16(b) of the Securities Exchange Act of 1934.

 

Section 14.             Insurance.  The Company will use its reasonable best
efforts to acquire directors and officers liability insurance, on terms and
conditions deemed appropriate by the Board of Directors of the Company, with the
advice of counsel, covering Indemnitee or any claim made against Indemnitee for
service as a director or officer of the Company and covering the Company for
any indemnification or advance of Expenses made by the Company to Indemnitee
for any claims made against Indemnitee for service as a director or officer of
the Company.  Without in any way limiting
any other obligation under this Agreement, the Company shall indemnify
Indemnitee for any payment by Indemnitee arising out of the amount of any
deductible or retention and the amount of any excess of the aggregate of all
judgments, penalties, fines, settlements and Expenses incurred by Indemnitee in
connection with a Proceeding over the coverage of any insurance referred to in
the previous sentence.

 

Section 15.             Indemnification for Expenses of a Witness.  Notwithstanding any other provision of this
Agreement, to the extent that Indemnitee is or may be, by reason of his
Corporate Status, a witness in any Proceeding, whether instituted by the
Company or any other party, and to which Indemnitee is not a party but in which
the Indemnitee receives a subpoena to testify, he shall be advanced all
Expenses and indemnified against all Expenses incurred by him or on his behalf
in connection therewith.

 

Section 16.             Duration of
Agreement; Binding Effect.

 

(a) This Agreement
shall continue until and terminate ten years after the date that Indemnitee’s
Corporate Status shall have ceased; provided, that the rights of Indemnitee
hereunder shall continue until the final termination of any Proceeding then
pending in respect of which Indemnitee is granted rights of indemnification or
advance of Expenses hereunder and of any proceeding commenced by Indemnitee
pursuant to Section 11 of this Agreement relating thereto.

 

(b) The indemnification
and advance of Expenses provided by, or granted pursuant to, this Agreement
shall be binding upon and be enforceable by the parties hereto and their
respective successors and assigns (including any direct or indirect successor
by purchase, merger, consolidation or otherwise to all or substantially all of
the business or assets of the Company), shall continue as to an Indemnitee who
has ceased to be a director, trustee, officer, employee or agent of the Company
or of any other corporation, partnership, joint venture, trust, employee
benefit plan or other enterprise which such person is or was serving at the
written request of the Company, and shall inure to the benefit of Indemnitee
and his spouse, assigns, heirs, devisees, executors and administrators and
other legal representatives.

 

(c) 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

 

9

 

this Agreement in the same manner and to the
same extent that the Company would be required to perform if no such succession
had taken place.

 

Section 17.             Severability.  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, each portion of
any section of this Agreement containing any such provision held to be
invalid, illegal or unenforceable that is not itself 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, each portion of any section of this Agreement
containing any such provision held to be invalid, illegal or unenforceable,
that is not itself invalid, illegal or unenforceable) shall be construed so as
to give effect to the intent manifested thereby.

 

Section 18.             Exception to
Right of Indemnification or Advance of Expenses.  Notwithstanding any other provision of this
Agreement, Indemnitee shall not be entitled to indemnification or advance of
Expenses under this Agreement with respect to any Proceeding brought by
Indemnitee, unless (a) the Proceeding is brought to enforce indemnification
under this Agreement, and then only to the extent in accordance with and as
authorized by Sections 8 and 11 of this Agreement, or (b) the Company’s Bylaws,
as amended, the Charter, a resolution of the stockholders entitled to vote
generally in the election of directors or of the Board of Directors or an
agreement approved by the Board of Directors to which the Company is a party
expressly provide otherwise.

 

Section 19.             Identical
Counterparts.  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.  One such counterpart signed by the party
against whom enforceability is sought shall be sufficient to evidence the
existence of this Agreement.

 

Section 20.             Headings.  The headings of the paragraphs 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.

 

Section 21.             Modification
and Waiver.  No supplement, modification or amendment of
this Agreement shall be binding unless executed in writing by both of the
parties hereto.  No waiver of any of the
provisions of this Agreement shall be deemed or shall constitute a waiver of
any other provisions hereof (whether or not similar) nor shall such waiver
constitute a continuing waiver.

 

Section 22.             Notices.  All notices, requests, demands and other
communications hereunder shall be in writing and shall be deemed to have been
duly given if (i) delivered by hand and receipted for by the party to whom said
notice or other communication shall have been directed, or (ii) mailed by
certified or registered mail with postage prepaid, on the third business day
after the date on which it is so mailed:

 

(a) If to
Indemnitee, to:  The address set forth on
the signature page hereto.

 

10

 

(b) If to the
Company, to:

 

	
   

  	
  VeriFone, Inc.

  
	
   

  	
  2099 Gateway Place

  
	
   

  	
  San Jose, California 95110

  
	
   

  	
  Telephone:

  	
  408-232-7800

  
	
   

  	
  Telecopy:

  	
  408-232-7889

  
	
   

  	
  Attention:

  	
  Barry Zwarenstein, Chief Financial Officer

  
	
   

  	
   

  
	
   

  	
  With a copy to:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Sullivan & Cromwell LLP

  
	
   

  	
  1870 Embarcadero Road

  
	
   

  	
  Palo Alto, California 94303

  
	
   

  	
  Telephone:

  	
  650-461-5600

  
	
   

  	
  Telecopy:

  	
  650-461-5700

  
	
   

  	
  Attention: 

  	
  Scott D. Miller

  
					

 

or to such other address as may have been furnished to Indemnitee by
the Company or to the Company by Indemnitee, as the case may be.

 

Section 23.             Governing Law.  The parties agree that this Agreement shall
be governed by, and construed and enforced in accordance with, the laws of the
State of Delaware, without regard to its conflicts of laws rules.

 

Section 24.             Miscellaneous.  Use of the masculine pronoun shall be deemed
to include usage of the feminine pronoun where appropriate.

 

[SIGNATURE PAGE FOLLOWS]

 

11

 

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

 

	
   

  	
  VERIFONE HOLDINGS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  [INDEMNITEE]

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Address:

  
	
   

  	
  Telephone:

  
	
   

  	
  Facsimile:

  
					

 

12

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