Document:

EXHIBIT 4.1

 

EXECUTION COPY

AMENDMENT NO. 2 TO

RIGHTS AGREEMENT

     AMENDMENT NO. 2 (the “Amendment”), dated as of June 5, 2005, to the Rights Agreement, dated as
of June 1, 1997 (as amended on February 17, 1999, the “Rights Agreement”), between
Providian Financial Corporation, a Delaware corporation (the “Company”), and EquiServe,
Inc. and EquiServe Trust Company, N.A. as successors-in-interest to First Chicago Trust Company of
New York, as Rights Agent (the “Rights Agent”).

RECITALS

     WHEREAS, the Company and the Rights Agent have heretofore executed and entered into the Rights
Agreement.

     WHEREAS, Washington Mutual, Inc., a Washington corporation (“Purchaser”) and the
Company contemplate entering into an Agreement and Plan of Merger (the “Plan”) pursuant to
which the Company will merge with and into Purchaser (including the subsequent Subsidiary Merger,
as such term is defined in the Plan, the “Merger”). The Board of Directors of the Company
has approved the Plan.

     WHEREAS, pursuant to Section 27 of the Rights Agreement, prior to such time as any Person
becomes an Acquiring Person (as defined in the Rights Agreement) the Company may, and the Rights
Agent shall if the Company so directs, from time to time supplement and amend the Rights Agreement.

     WHEREAS, the Board of Directors of the Company has determined that an amendment to the Rights
Agreement as set forth herein is necessary and desirable in connection with the foregoing and the
Company and the Rights Agent desire to evidence such amendment in writing.

     WHEREAS, all acts and things necessary to make this Amendment a valid agreement, enforceable
according to its terms, have been done and performed, and the execution and delivery of this
Amendment by the Company and the Rights Agent have been in all respects duly authorized by the
Company and the Rights Agent.

     Accordingly, the parties agree as follows:

     A. Amendment of Section 1. Section 1 of the Rights Agreement is hereby amended and
supplemented to add the following definitions in the appropriate locations:

(e) “Purchaser” means Washington Mutual, Inc., a Washington corporation.

(o) “Merger” shall mean, collectively, the “Merger” and the “Subsidiary Merger” as
such terms are defined in the Plan.

 

 

(r) “Plan” shall mean the Agreement and Plan of Merger, dated as of June 5, 2005, by
and between the Company and Purchaser, as it may be amended from time to time.

     B. Amendment of the definition of “Acquiring Person”. The definition of “Acquiring
Person” in Section 1(a) of the Rights Agreement is hereby amended and supplemented by adding the
following sentence at the end thereof:

     “Notwithstanding anything in this Rights Agreement to the contrary, Purchaser shall not
be deemed to be an Acquiring Person solely by virtue of (i) the execution of the Plan, (ii)
the consummation of the Merger or (iii) the consummation of any other transaction
contemplated in the Plan, including without limitation the consummation thereof.”

     C. Amendment of the definition of “Shares Acquisition Date”. The definition of
“Shares Acquisition Date” in Section 1(x) of the Rights Agreement is hereby amended and
supplemented by adding the following sentence at the end thereof:

     “Notwithstanding anything in this Rights Agreement to the contrary, a Shares
Acquisition Date shall not be deemed to have occurred solely as the result of (i) the
execution of the Plan, (ii) the consummation of the Merger, or (iii) the consummation of any
other transaction contemplated in the Plan, including without limitation the consummation
thereof.”

     D. Amendment of the definition of “Distribution Date”. The definition of
“Distribution Date” in Section 3(a) of the Rights Agreement is hereby amended and supplemented by
adding the following proviso immediately following the words “...the earlier of such dates being
herein referred to as the ‘Distribution Date’” in the fourth parenthetical in subsection 3(a)(ii) :

     “; provided however, that notwithstanding anything in this Rights Agreement to the
contrary, a Distribution Date shall not be deemed to have occurred solely as the result of
(i) the execution of the Plan, (ii) the consummation of the Merger, or (iii) the
consummation of any other transaction contemplated in the Plan, including without limitation
the consummation thereof.”

     E. Amendment of Section 3. Section 3 of the Rights Agreement is hereby amended and
supplemented to add the following sentence at the end thereof as Section 3(d):

     “Nothing in this Rights Agreement shall be construed to give any holder of Rights or
any other Person any legal or equitable rights, remedies or claims under this Rights
Agreement by virtue of the execution of the Plan or by virtue of any of the transactions
contemplated by the Plan, including without limitation the consummation thereof.”

     F. Amendment of the definition of “Final Expiration Date”. Clause (i) of Section 7(a)
of the Rights Agreement is hereby amended and restated in its entirety as follows:

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“(i) the earlier of (a) the Close of Business on June 30, 2007 and (b) the
consummation of the Merger (such earlier date the “Final Expiration Date”),”

     G. Amendment of Section 26. Section 26 of the Rights Agreement is hereby amended by
replacing the reference to “First Chicago Trust Company of New York” with “EquiServe Trust Company,
N.A.” and replacing the reference to “Tenders and Exchanges Administration” in the Attention field
with “Client Administration”.

     H. Effectiveness. This Amendment shall be deemed effective as of the date first
written above, as if executed on such date. Except as amended hereby, the Rights Agreement shall
remain in full force and effect and shall be otherwise unaffected hereby.

     I. Miscellaneous. This Amendment shall be deemed to be a contract made under the laws
of the State of Delaware and for all purposes shall be governed by and construed in accordance with
the laws of such state applicable to contracts to be made and performed entirely within such state.
This Amendment may be executed in any number of counterparts, each of such counterparts shall for
all purposes be deemed to be an original, and all such counterparts shall together constitute but
one and the same instrument. If any provision, covenant or restriction of this Amendment is held
by a court of competent jurisdiction or other authority to be invalid, illegal or unenforceable,
the remainder of the terms, provisions, covenants and restrictions of this Amendment shall remain
in full force and effect and shall in no way be effected, impaired or invalidated. Except as
otherwise expressly provided herein, or unless the context otherwise requires, all terms used
herein have the meanings assigned to them in the Rights Agreement. The Rights Agent and the
Company hereby waive any notice requirement under the Rights Agreement pertaining to the matters
covered by this Amendment.

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     IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and
attested, all as of the date and year first above written.

	 	 	 	 	 	 	 
	 	 	 	 	PROVIDIAN FINANCIAL CORPORATION
	Attest:	 	 	 	 
	 
	 	 	 	 	 	 
	By:

	 	/s/ Robert Rowe	 	By:	 	/s/ Joseph W. Saunders
	

	 	 
	 	 	 	 
	

	 	Name: Robert Rowe
	 	 	 	Name: Joseph W. Saunders
	

	 	Title: Executive Vice President
&
Co-General Counsel
	 	 	 	Title: Chairman, President &
Chief Executive Officer
	 
	 	 	 	 	 	 
	 	 	 	 	EQUISERVE, INC. AND EQUISERVE TRUST COMPANY, N.A., on behalf of both companies
	Attest:	 	 	 	 
	 
	 	 	 	 	 	 
	By:

	 	/s/ Suzanne Oliver	 	By:	 	/s/ Stephen Cesso
	

	 	 
	 	 	 	 
	

	 	Name: Suzanne Oliver
	 	 	 	Name: Stephen Cesso
	

	 	Title: Assistant Counsel
	 	 	 	Title: General Counsel

-4-EXHIBIT 10.6

 

Exhibit 10.6

INDEMNITY AGREEMENT

     This Indemnity Agreement, dated as of March 29, 2005 (the “Agreement”) is made by and
between Coinmach Service Corp., a Delaware corporation (the “Company”) and Woody McGee,
(the “Indemnitee”).

RECITALS

     A. The Company is aware that competent and experienced persons are increasingly reluctant to
serve as directors or officers of corporations unless they are protected by adequate
indemnification, due to increased exposure to litigation costs and risk resulting from their
service to such corporations, and due to the fact that the exposure may bear no reasonable
relationship to the compensation of such directors and officers;

     B. The statutes and judicial decisions regarding the duties of directors and officers are
often difficult to apply, ambiguous, or conflicting, and therefore fail to provide such directors
and officers with adequate, reliable knowledge of legal risks to which they are exposed or
information regarding the proper course of action to take;

     C. Plaintiffs often seek damages in such large amounts and the costs of litigation may be so
great (whether or not the case is meritorious), that the defense and/or settlement of such
litigation may be beyond the personal resources of directors and officers;

     D. The Board of Directors of the Company (the “Board”) has concluded that, to retain
and attract talented and experienced individuals to serve as officers and directors of the Company
and to encourage such individuals to make the business decisions necessary or appropriate for the
success of the Company and its Subsidiaries (as defined in Section 1 below), it is
necessary for the Company to contractually indemnify its directors and certain of its officers, and
certain of the directors and officers of its Subsidiaries, and to assume for itself maximum
permissible liability for Expenses, losses, liabilities and damages in connection with claims
against such officers and directors relating to their service in such capacities, and has further
concluded that the failure to provide such contractual indemnification could result in significant
harm to the Company and its Subsidiaries and the Company’s stockholders;

     E. The provisions of the Amended and Restated Certificate of Incorporation of the Company (the
“Certificate of Incorporation”) specifically state that the rights to indemnification and
payment of expenses described therein are not exclusive, and thereby contemplate that contracts
with respect to indemnification and payment of Expenses by the Company and similar obligations of
the Company may be entered into by and between the Company and persons entitled to such rights
described in the Certificate of Incorporation; and

     F. The Company desires the Indemnitee to serve or continue to serve as a director or officer
of the Company and/or one or more of its Subsidiaries without undue concern for claims for damages
arising out of or related to such services to the Company and/or one or more of its Subsidiaries.

 

 

     NOW, THEREFORE, the parties hereto, intending to be legally bound, hereby agree as follows:

     1. Definitions. For the purposes of this Agreement, the following terms shall have
the meanings set forth below:

     (a) Agent. “Agent” means any person who (i) is or was a director, officer,
employee, or other agent of the Company or a Subsidiary of the Company, (ii) is or was
serving at the request of, for the convenience of, or to represent the “interest of the
Company” or a Subsidiary of the Company as a director, officer, trustee, partner, employee,
fiduciary or agent of another foreign or domestic corporation, partnership, limited
liability company, joint venture, trust, foundation, association, organization or other
legal entity or enterprise or (iii) is or was serving in any capacity with respect to any
employee, fiduciary benefits plans of the Company or any Subsidiary. For purposes of
subsection (ii) of this Section 1(a), if Indemnitee is serving or has served as a
director, officer, trustee, partner, employee, fiduciary or agent of a Subsidiary,
Indemnitee shall be deemed to be serving at the request of the Company.

     (b) Controlled. “Controlled” means subject to the power to exercise a
controlling influence over the management or policies of a corporation, partnership, joint
venture, trust or other entity.

     (c) Expenses. “Expenses” includes all direct and indirect costs, fees and
expenses of any type or nature whatsoever (including, without limitation, attorneys’ fees
and related disbursements and retainers, other out-of-pocket costs such as fees and
disbursements of expert witnesses, private investigators and professional advisors, court
costs, transcript costs, fees of experts, duplicating, printing and binding costs, telephone
and fax transmission charges, postage, delivery services, secretarial services and other
disbursements and Expenses and reasonable compensation for time spent by the Indemnitee for
which he is not otherwise compensated by the Company or any third party) actually and
reasonably incurred by the Indemnitee in connection with either the investigation, defense,
settlement or appeal of, or otherwise related to a Proceeding or establishing or enforcing a
right to indemnification under this Agreement or otherwise.

     (d) Proceeding. “Proceeding” means any threatened, pending, or completed
claim, action, suit, arbitration, alternate dispute resolution process, investigation,
administrative hearing, appeal or any other proceeding, whether civil, criminal,
administrative, investigative or any other type whatsoever, whether formal or informal,
including a proceeding initiated by Indemnitee pursuant to Section 6 of this
Agreement to enforce Indemnitee’s rights hereunder.

     (e) Subsidiary. “Subsidiary” means (i) any corporation of which 50% or more of
the outstanding voting securities are owned directly or indirectly by the Company, or which
is otherwise controlled by the Company, (ii) any partnership, joint venture, limited
liability company, trust or other entity of which 50% or more of the equity interest is
owned directly or indirectly by the Company, or which is otherwise controlled by the

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Company or (iii) the Company owns a general partner or managing member or similar
interest.

     2. Agreement To Serve. The Indemnitee agrees to serve and/or continue to serve as an
Agent of the Company, at its will (or under separate agreement, if such agreement exists), in the
capacity Indemnitee currently serves as an Agent of the Company; provided, however,
that nothing contained in this Agreement is intended to or shall (i) restrict the ability of the
Indemnitee to resign at any time and for any reason from any current or future position or
positions, (ii) create any right to continued employment of the Indemnitee in any current or future
position or positions, or (iii) restrict the ability of the Company to terminate the employment or
agency of Indemnitee at any time and for any reason (subject to compliance with the terms of any
employment or other applicable agreement to which the Company (or any of its Subsidiaries) and the
Indemnitee are parties).

     3. Indemnification as Agent.

     (a) Third Party Actions. If the Indemnitee was or is a party or is threatened to be
made a party to any Proceeding (other than an action by or in the right of the Company) by reason
of the fact that he is or was an Agent of the Company, or by reason of anything done or not done by
him in any such capacity or otherwise at the request of the Company or any of its officers,
directors, or stockholders, the Company shall indemnify and hold harmless the Indemnitee against
any and all Expenses, losses and liabilities of any type whatsoever (including, but not limited to,
judgments, damages, liabilities, losses, fines, excise taxes, penalties and amounts paid in
settlement) actually and reasonably incurred by him in connection with the investigation, defense,
settlement or appeal of, or otherwise related to such Proceeding, if he acted in good faith and in
a manner he reasonably believed to be in, or not opposed to, the best interests of the Company,
and, with respect to any criminal action or Proceeding, if he had no reasonable cause to believe
his conduct was unlawful. The termination of any Proceeding, or any claim, issue or matter in such
a Proceeding by reason of settlement, judgment, order or otherwise, shall be deemed to be a
successful result as to such Proceeding, claim, issue or matter, so long as there has been no
finding (either adjudicated or pursuant to Section 6(c) below) that Indemnitee (i) did not
act in good faith, or (ii) did not act in a manner reasonably believed to be in, or not opposed to,
the best interests of the Company, or (iii) with respect to any criminal Proceeding, had reasonable
cause to believe his conduct was unlawful.

     (b) Derivative Actions. If the Indemnitee was or is a party or is threatened to be
made a party to any Proceeding by or in the right of the Company to procure a judgment in its favor
by reason of the fact that he is or was an Agent of the Company, or by reason of anything done or
not done by him in any such capacity, the Company shall indemnify and hold harmless the Indemnitee
against any amounts paid in settlement of any such Proceeding and any and all Expenses, losses and
liabilities of any type whatsoever (including, but not limited to, judgments, damages, liabilities,
losses, fines, excise taxes, penalties and amounts paid in settlement) actually and reasonably
incurred by him in connection with the investigation, defense, settlement, or appeal of, or
otherwise related to such Proceeding, if he acted in good faith and in a manner he reasonably
believed to be in or not opposed to the best interests of the Company; except that no
indemnification under this subsection shall be made with respect to any claim, issue or matter as
to which such person has been finally adjudged to have been liable to the Company, unless and

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only to the extent that the Court of Chancery of the State of Delaware or the court in which
such Proceeding was brought shall determine upon application that, despite the adjudication of
liability but in view of all the circumstances of the case, such person is fairly and reasonably
entitled to indemnity for such Expenses as the court shall deem proper.

     (c) Scope of Indemnification. If the General
Corporation Law of the State of Delaware (the “Delaware Law”) or any other applicable law
is amended after the date hereof to permit the Company to indemnify Indemnitee for Expenses or
liabilities, or to indemnify Indemnitee with respect to any action or Proceeding, not contemplated
by this Agreement, then this Agreement (without any further action be either party hereto) shall
automatically be deemed to be amended to require that the Company indemnify Indemnitee to the
fullest extent permitted by the Delaware Law.

     4. Advancement of Expenses. Subject to Sections 7(a) and (b) below,
the Company shall advance all Expenses actually and reasonably incurred by the Indemnitee in
connection with the investigation, defense, settlement or appeal of, or otherwise related to any
Proceeding to which the Indemnitee is a party or is threatened to be made a party by reason of the
fact that the Indemnitee is or was an Agent of the Company. Indemnitee hereby agrees to repay such
amounts advanced if it shall ultimately be determined pursuant to Section 6 below that the
Indemnitee is not entitled to be indemnified by the Company.

     5. Indemnification Procedures.

     (a) Notice by Indemnitee. Promptly after receipt
by the Indemnitee of notice of the commencement of or the threat of commencement of any Proceeding,
the Indemnitee shall, if the Indemnitee believes that indemnification with respect thereto may be
sought from the Company under this Agreement, provide written notice to the Company of the
commencement or threat of commencement thereof; provided that the failure to give such
notice shall not impair Indemnitee’s rights under this Agreement.

     (b) Notice to Insurer. If, at the time of the receipt of a notice of the commencement
of a Proceeding pursuant to Section 5(a) above, the Company has in effect an insurance
policy or policies providing directors’ and officers’ liability insurance, the Company shall give
prompt notice of the commencement of such Proceeding to the insurers in accordance with the
procedures set forth in the respective policies. The Company shall thereafter take all necessary
or desirable action to cause such insurers to pay, on behalf of the Indemnitee, all amounts payable
as a result of such Proceeding in accordance with the terms of such policies.

     (c) Assumption of Defense. In the event the Company shall be obligated to pay the
Expenses of the Indemnitee with respect to any Proceeding, the Company shall be entitled to assume
the defense of such Proceeding, with counsel of its choosing, upon the delivery to the Indemnitee
of written notice of its election to do so, which written notice shall be delivered within ten (10)
calendar days after receipt of written notice of the Proceeding pursuant to Section 5(a)
above. After delivery of such notice, the Company will not be liable to the Indemnitee under this
Agreement for any fees and Expenses of counsel which are subsequently incurred by the Indemnitee
with respect to the same Proceeding; provided, however, that the Indemnitee shall
have the right to employ his counsel in any such Proceeding at the Indemnitee’s

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expense; and provided further, that if (i) the employment of counsel by the
Indemnitee has been previously authorized by the Company, or (ii) the Indemnitee shall have
reasonably concluded that there may be a conflict of interest between the Company and the
Indemnitee in the conduct of any such defense or that Indemnitee may have separate defenses or
counterclaims to assert with respect to any issue which may not be consistent with the position of
other defendants in such Proceeding, or (iii) the Company shall not, in fact, have employed counsel
to assume the defense of such Proceeding in a timely manner, then, in any such case, the fees and
Expenses of Indemnitee’s counsel shall be 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 action, suit or 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, to represent Indemnitee in connection with
any such matter. 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
5(c) shall not apply to a Proceeding brought by Indemnitee under Section 6 below or
pursuant to Section 7(a) or (b) below.

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

     (e) Cooperation by Indemnitee. Indemnitee shall
give the Company such information and cooperation as it may reasonably require and as shall be
within Indemnitee’s power.

     6. Determination of Right to Indemnification.

     (a) Successful Proceeding. To the extent the Indemnitee has been successful, on the
merits or otherwise, in the defense of any Proceeding referred to in Section 3 above, the
Company shall indemnify the Indemnitee against any and all Expenses actually and reasonably
incurred by him in connection therewith. If Indemnitee is not wholly successful in such Proceeding
but is successful, on the merits or otherwise, as to one or more but less than all claims, issues
or matters in such Proceeding, the Company shall indemnify Indemnitee against any and all Expenses
actually and reasonably incurred by or for him in connection with each successfully resolved claim,
issue or matter.

     (b) Other Proceeding. In the event that Section 6(a) above is inapplicable,
or applicable only in part, the Company shall nevertheless indemnify the Indemnitee unless it is
determined in a form described below that the Indemnitee has not met the applicable standard of
conduct set forth in Section 3 above, if any, which entitles Indemnitee to such
indemnification.

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     (c) Forum in Event of Dispute. The Indemnitee shall be entitled to select the forum
in which the validity of the Company’s claim under Section 6(b) hereof that the Indemnitee
is not entitled to indemnification will be heard, from among the following (subject to provisions
of applicable law):

     (i) by a majority vote of the directors of the Board who are not parties to such
Proceeding, even though less than a quorum; or

     (ii) by a committee of such directors designated by majority vote of such directors,
even though less than a quorum; or

     (iii) if there are no such directors, or if such directors so direct, by independent
legal counsel in a written opinion; or

     (iv) by the stockholders.

     (d) Submission of Company’s Claim. As soon as practicable, and in no event later than
thirty (30) days after written notice of the Indemnitee’s choice of forum pursuant to Section
6(c) above, the Company shall, at its own expense, submit to the selected forum in such manner
as the Indemnitee or the Indemnitee’s counsel may reasonably request, its claim that the Indemnitee
is not entitled to indemnification. The Company shall act in the utmost good faith to assure the
Indemnitee a complete opportunity to defend against such claim.

     (e) Appeal to Court. Notwithstanding a determination by any forum listed in
Section 6(c) above that Indemnitee is not entitled to indemnification with respect to a
specific Proceeding, the Indemnitee shall have the right to apply to the court in which that
Proceeding is or was pending or any other court of competent jurisdiction, for the purpose of
enforcing the Indemnitee’s right to indemnification pursuant to this Agreement.

     (f) Indemnity for Expenses in Enforcement of Agreement.
Notwithstanding any other provision in this Agreement to the contrary, the Company shall indemnify
the Indemnitee against all Expenses incurred by the Indemnitee in connection with any hearing or
Proceeding under this Section 6 involving the Indemnitee and against all Expenses incurred
by the Indemnitee in connection with any other Proceeding between the Company and the Indemnitee
involving the interpretation or enforcement of the rights of the Indemnitee under this Agreement
unless a court of competent jurisdiction finds that the claims and/or defenses of the Indemnitee in
any such Proceeding was frivolous or made in bad faith.

     (g) Effect of Certain Resolutions. Neither the settlement or termination of any
Proceeding nor the failure of the Company to award indemnification or to determine that
indemnification is payable shall create a presumption that Indemnitee is not entitled to
indemnification hereunder. In addition, the termination of any Proceeding by judgment, order,
settlement, conviction, or upon a plea of nolo contendere or its equivalent shall
not create a presumption that Indemnitee did not act in good faith and in a manner which Indemnitee
reasonably believed to be in or not opposed to the best interests of the Company or, with respect
to any criminal Proceeding, had reasonable cause to believe that Indemnitee’s action was unlawful.

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     (h) Failure To Act Not a Defense. The failure of the Company (including its Board of
Directors or any committee thereof, independent legal counsel, or stockholders) to make a
determination concerning the permissibility of indemnification hereunder or the advancement of
Expenses under this Agreement shall not be a defense in any action brought under Section 6
above, and shall not create a presumption that such indemnification or advancement is not
permissible.

     7. Exceptions.

     (a) Excluded Action or Omissions. Any other provision herein to the contrary
notwithstanding, the Company shall not be obligated to indemnify or advance Expenses to Indemnitee
with respect to Proceedings or claims arising out of acts, omissions or transactions for which
Indemnitee is prohibited from receiving indemnification under applicable law.

     (b) Claims Initiated by Indemnitee. Any other
provision herein to the contrary notwithstanding, the Company shall not be obligated pursuant to
the terms of this Agreement to indemnify or advance Expenses to the Indemnitee with respect to
Proceedings or claims initiated or brought voluntarily by the Indemnitee and not by way of defense
or counterclaims asserted by Indemnitee in any Proceeding brought against Indemnitee, except with
respect to Proceedings brought to establish or enforce a right to indemnification under this
Agreement or any other statute or law or otherwise as required under the General Corporation Law of
the State of Delaware, but such indemnification or advancement of Expenses may be provided by the
Company in specific cases if the Board finds it to be appropriate.

     (c) Lack of Good Faith. Any other provision herein to the contrary notwithstanding,
the Company shall not be obligated pursuant to the terms of this Agreement to indemnify the
Indemnitee for any Expenses incurred by the Indemnitee with respect to any Proceeding instituted by
the Indemnitee to enforce or interpret this Agreement, if a court of competent jurisdiction
determines that each of the material assertions made by the Indemnitee in such Proceeding was
frivolous or made in bad faith.

     (d) Unauthorized Settlements. Any other provision herein to the contrary
notwithstanding, the Company shall not be obligated pursuant to the terms of this Agreement to
indemnify the Indemnitee for any amount paid in settlement of a Proceeding effected without the
prior written consent of the Company. The Company agrees not to unreasonably withhold its consent
to any settlement.

     (e) No Duplicative Payment. The Company shall not be liable under this Agreement to
make any payment of amounts otherwise indemnifiable hereunder if and to the extent that Indemnitee
has otherwise actually received such payment under any insurance policy, contract, agreement or
otherwise.

     8. Non-exclusivity. The provisions for indemnification and advancement of Expenses
set forth in this Agreement shall not be deemed exclusive of any other rights which the Indemnitee
may have under any provision of law, the Certificate of Incorporation or Amended and Restated
Bylaws, the vote of the Company’s stockholders or disinterested directors, other agreements, or
otherwise, both as to action in his official

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capacity and as to action in another capacity while occupying a position as an Agent of the
Company.

     9. Interpretation of Agreement; Scope. It is understood that the parties hereto
intend this Agreement to be interpreted and enforced so as to provide indemnification to the
Indemnitee to the fullest extent now or hereafter permitted by applicable law. The benefits of
this Agreement shall inure to the Indemnitee both with respect to acts done or not done by him both
before and after this date.

     10. Burden of Proof. 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, and the Company shall have the
burden of proof to overcome that presumption in connection with the making by any person, persons
or entity of any determination contrary to that presumption.

     11. Severability. If any provision or provisions of this Agreement shall be held to
be invalid, illegal or unenforceable for any reason whatsoever, (i) the validity, legality and
enforceability of the remaining provisions of the 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 themselves invalid, illegal or unenforceable) shall not in
any way be affected or impaired thereby, and (ii) 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 manifested
by the provision held invalid, illegal or unenforceable and to give effect to Section 9
hereof.

     12. Modification and Waiver. Except as contemplated by Section 3(c), no
supplement, modification or amendment of this Agreement shall be binding unless executed in writing
by all 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.

     13. Survival, Successors and Assigns. The Indemnitee’s rights under this Agreement
shall continue after the Indemnitee has ceased acting as an Agent of the Company. The terms of
this Agreement shall be binding on and inure to the benefit of the Company and its successors and
assigns and shall be binding on and inure to the benefit of Indemnitee and Indemnitee’s heirs,
executors and administrators.

     14. Gender. The masculine, feminine or neuter pronouns used herein shall be
interpreted without regard to gender, and the use of the singular or plural shall be deemed to
include the other whenever the context so requires.

     15. Notice. All notices, requests, demands and other communications under this
Agreement shall be in writing and shall be deemed duly given (i) if delivered by hand and received
by the party addressee or (ii) if mailed by certified or registered mail with postage prepaid, on
the third business day after the mailing date. All notice to either party will be sent to the
applicable address below, or as subsequently modified by written notice.

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     If to the Company:

Coinmach Service Corp.

303 Sunnyside Blvd., Suite 70

Plainview, NY 11803

Attention: Robert M. Doyle

     If to Indemnitee, at such Indemnitee’s primary address listed in the records of the Company.

     16. Governing Law. This Agreement, and all rights, remedies, liabilities, powers and
duties of the parties to this Agreement, shall be governed exclusively by and construed according
to the laws of the State of Delaware without regard to principles of conflicts of laws.

     17. Consent to Jurisdiction. The Company and the Indemnitee each hereby irrevocably
consent to the jurisdiction of the courts of the State of Delaware for all purposes in connection
with any action or Proceeding which arises out of or relates to this Agreement and agree that any
action instituted under this Agreement shall be brought only in the state courts of the State of
Delaware.

     18. Counterparts. This Agreement may be executed in any number of counterparts, each
of which shall be deemed an original, but all such counterparts shall together constitute one and
the same instrument.

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     The parties hereto have entered into this Indemnity Agreement effective as of the date first
above written.

	 	 	 	 	 	 	 
	 	 	COINMACH SERVICE CORP.
	 
	 	 	 	 	 	 
	 	 	By:	 	/s/ Robert M. Doyle
	 	 	 	 	 
	 	 	Title:	 	 Chief Financial Officer
	 
	 	 	 	 	 	 
	 	 	INDEMNITEE:	 	/s/ Woody McGee
	

	 	 	 	 	 	 

-10-

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