Document:

EX-10.37

 

EXHIBIT
10.37

MILACRON INC.

DIRECTOR DEFERRED COMPENSATION PLAN

As Amended November 2, 2006

     Milacron Inc. (the “Company”) hereby establishes, effective as of May 4, 2005, the Milacron
Inc. Director Deferred Compensation Plan (the “Plan”) on the terms and conditions hereinafter set
forth. Such Plan provides certain members of the Company’s Board of Directors the opportunity to
receive deferred compensation in accordance with the provisions of the Plan.

     1. Definitions. For the purposes hereof, the following words and phrases shall have
the meanings set forth below, unless their context clearly requires a different meaning:

     “Account” means the bookkeeping account maintained by the Company on behalf of each
Participant as provided herein. The sum of each Participant’s Deferral Sub-Account and Restricted
Sub-Account, in the aggregate, shall constitute his Account.

     “Beneficiary” means the Participant’s estate.

     “Board” means the board of directors of the Company.

     “Code” means the Internal Revenue Code of 1986, as amended.

     “Company” means Milacron Inc. and its successors, including, without limitation, the surviving
corporation resulting from any merger or consolidation of Milacron Inc. with any other corporation,
limited liability company, joint venture, partnership or other entity or entities.

     “Common Stock” means the common stock of the Company or any security into which such Common
Stock may be changed by reason of any transaction or event of the type referred to in Section 5
hereof.

     “Deferral Sub-Account” means the bookkeeping sub-account maintained by the Company on behalf
of each Participant pursuant to Section 2 hereof.

     “Exchange Act” means the Securities Exchange Act of 1934 and the rules and regulations
thereunder, as such law, rules and regulations may be amended from time to time.

     “Fair Market Value per Share” means, as of any particular date, (i) the closing sale price per
share of Common Stock as reported on the principal exchange on which Common Stock of the Company is
then trading, if any, or if there are no sales on such day, on the next preceding trading day
during which a sale occurred, or (ii) if clause (i) does not apply, the fair market value of a
share of Common Stock as determined by the Board.

     “Participant” means any member of the Board who is not an employee of the Company or any of
its subsidiaries or affiliates.

     “Plan” means this Milacron Inc. Director Deferred Compensation Plan.

 

 

     “Restricted Sub-Account” means the bookkeeping sub-account maintained by the Company on behalf
of each Participant pursuant to Section 2 hereof.

     2. Accounts. The Company shall establish a Deferral Sub-Account and Restricted
Sub-Account for each Participant. The Balance in each such sub-account shall reflect the shares of
Common Stock, if any, credited by the Company under Section 3 hereof, and adjustments thereto,
including dividend equivalents, in accordance with Section 5 hereof. The Company may, in its sole
discretion, establish and name such additional sub-accounts as may be appropriate or necessary to
facilitate proper recordkeeping, provided that the terms of such additional sub-accounts are
consistent with the Plan.

     3. Credits of Common Stock

     (a) On May 4, 2005, each Participant serving on the Board as of the preceding day shall
receive a credit to his Deferral Sub-Account of a number of shares of Common Stock equal to (i)
$10,000 divided by (ii) the Fair Market Value per Share as of January 1, 2005. Each Participant
joining the Board during 2005 but after May 3 shall receive, on the fifth business day after such
Participant becomes a member of the Board, a number of credits to his Deferral Sub-Account
calculated in accordance with the prior sentence, but prorated for the amount of the calendar year
2005 during which the Participant is expected to be a member of the Board. On January 5, 2006, and
on each January 5th thereafter (unless such day is not a business day, in which event on the next
succeeding business day), each Participant serving on the Board as of such date shall receive a
credit to his Deferral Sub-Account of a number of shares of Common Stock equal to (i) $10,000
divided by (ii) the Fair Market Value per Share as of the immediately preceding January 1. Each
Participant joining the Board after January 1 of 2006 or after the first day of any subsequent
calendar year shall receive, on the fifth business day after such Participant becomes a member of
the Board, a number of credits to his Deferral Sub-Account calculated in accordance with the prior
sentence, but prorated for the amount of such calendar year during which the Participant is
expected to be a member of the Board.

     (b) The Company may from time to time, in its discretion, credit shares of Common Stock to the
Restricted Sub-Account of one or more Participants. The amount of such credits, if any, shall be
determined by the Board in its sole discretion.

     4. Vesting. Credits to a Participant’s Deferral Sub-Account shall vest daily in equal
increments during the period beginning on January 1 of the calendar year in which such credits are
made pursuant to Section 3 and ending on December 31 of such year. Notwithstanding the previous
sentence, for those Participants joining the Board after January 1 of a given calendar year, daily
vesting shall begin the day the Participant joins the Board, and for those Participants who cease
to be members of the Board prior to December 31 of a given calendar year, daily vesting shall end
on the date the Participant ceases to be a member of the Board. Thus, if a Participant joins the
Board after January 1 or ceases to be a member of the Board prior to December 31 of a given year,
the amount payable from Participant’s Deferral Sub-Account during such calendar year shall be
prorated for the number of days during the calendar year in which the Participant served as a
member of the Board. Credits, if any, to a Participant’s

2

 

Restricted Sub-Account shall be subject to such vesting schedule as may be determined by the
Board at the time such credits are approved.

     5. Adjustments. The amount credited to the Accounts in accordance with Section 3
hereof, plus dividend equivalents thereon, shall be deemed to be invested at all times in shares of
Common Stock, in accordance with procedures established from time to time by the Board.
Notwithstanding the preceding sentence, the Company is not and shall not be required to make any
investment in shares of Common Stock in connection with this Plan. The Board may make or provide
for such adjustments in the number of shares of Common Stock credited to the Accounts as the Board,
in its sole discretion exercised in good faith, may determine is equitably required in order to
prevent dilution or enlargement of a Participant’s rights that otherwise would result from (i) any
stock dividend, stock split, combination of shares, recapitalization, or other change in the
capital structure of the Company, (ii) any merger, consolidation, spin-off, split-off, spin-out,
split-up, reorganization, partial or complete liquidation, or other distribution of assets or
issuance of rights or warrants to purchase securities, or (iii) any other corporate transaction or
event having an effect similar to any of the foregoing. In the event of any such transaction or
event, the Board, in its sole discretion exercised in good faith, may provide, in substitution for
the shares of Common Stock credited to the Accounts, such alternative consideration as it may
determine to be equitable in the circumstances.

     6. Distribution of Accounts

     (a) The vested amounts then-credited to a Participant’s Deferral Sub-Account and Restricted
Sub-Account shall be distributed to him or his Beneficiary within 20 days following the date on
which the Participant ceases to be a member of the Board. Such distribution shall discharge all
obligations of the Company (and any affiliates) to the Participant or Beneficiary under this Plan
with respect to such sub-accounts. Notwithstanding the preceding sentence, the Board may, at the
time that an amount is credited to a Participant’s Restricted Sub-Account, provide that such amount
shall be distributed to him or his Beneficiary within 20 days following the date on which such
amount becomes vested.

     (b) Subject to Section 14 hereof, a Participant may elect, on a form provided by the Company,
to receive distributions from his Deferral Sub-Account or Restricted Sub-Account in cash, shares of
Common Stock, or a combination of the foregoing. Notice of the election shall be delivered to the
Secretary of the Company no less than 10 days prior to the distribution. To the extent that an
amount is to be distributed in the form of cash, the amount of cash shall be calculated based on
the Fair Market Value per Share as of the date of the event that gave rise to the distribution.
Any shares of Common Stock distributed under the Plan may be shares of original issuance, treasury
shares or a combination of the foregoing. The Company shall not be required to issue any
fractional shares of Common Stock pursuant to this Plan and may provide for the elimination of
fractions. In the event that a Participant does not file a distribution election as provided in
this Section 6(b), the distribution shall be made in the form of cash. Any distribution shall be
made in a single lump sum.

     (c) Notwithstanding anything in this Section 6 to the contrary, (i) the date on which a
Participant ceases to be a member of the Board shall be deemed to have not occurred for purposes of
this Plan unless such cessation constitutes a “separation from service” within the

3

 

meaning of Section 409A of the Code, and (ii) if a Participant is a “specified employee”
within the meaning of Section 409A of the Code, then any distribution on account of his separation
from service may not commence before the date that is 6 months after the date of such separation
from service (or, if earlier, the date of death).

     7. Administration

     (a) This Plan shall be administered by the Board, which may from time to time delegate all or
any part of its authority under this Plan to a committee of the Board (or subcommittee thereof),
consisting of not less than two directors appointed by the Board, each of whom shall be a
“non-employee director” as defined in Rule 16b-3 of the Exchange Act. To the extent of any such
delegation, references in this Plan to the Board shall be deemed to be references to any such
committee or subcommittee. A majority of the committee (or subcommittee) shall constitute a
quorum, and the action of the members of the committee (or subcommittee) present at any meeting at
which a quorum is present, or acts unanimously approved in writing, shall be the acts of the
committee (or subcommittee).

     (b) The Board shall have all such powers as may be necessary to carry out the provisions of
the Plan, including the power to (i) resolve all questions pertaining to claims for benefits and
procedures for claim review, (ii) resolve all other questions arising under the Plan, including
any factual questions and questions of construction, and (iii) take such further action as the
Company shall deem advisable in the administration of the Plan. The actions taken and the
decisions made by the Board hereunder shall be final and binding upon all interested parties.

     (c) Notwithstanding any other provision herein, it is intended that the Plan comply with the
provisions of Section 409A of the Code, so as to prevent the inclusion in gross income of any
amounts deferred hereunder in a taxable year that is prior to the taxable year or years in which
such amounts would otherwise actually be distributed or made available to Participants or
Beneficiaries. This Plan shall be construed, administered, and governed in a manner that effects
such intent, and the Board shall not take any action that would be inconsistent with such intent.
Any provisions that would cause any amount deferred or payable under the Plan to be includible in
the gross income of any Participant or Beneficiary under Section 409A(a)(1) of the Code shall have
no force and effect unless and until amended to cause such amount to not be so includible (which
amendment may be retroactive to the extent permitted by Section 409A of the Code and may be made by
the Board without the consent of the Participant or Beneficiary).

     8. Interest of Participants. The obligation of the Company under the Plan to make
payment of amounts reflected in an Account merely constitutes the unsecured promise of the Company
to make payments from its general assets and no Participant or Beneficiary shall have any interest
in, or a lien or prior claim upon, any property of the Company. This Plan shall not confer upon
any Participant any right with respect to continuance of service with the Company or any
affiliate, nor shall it interfere in any way with any right the Company or any affiliate would
otherwise have to terminate such Participant’s service at any time.

     9. Nonassignment of Benefits. No right or interest under the Plan of any Participant
or Beneficiary shall, without the written consent of the Company, be (i) assignable or
transferable in any manner, (ii) subject to alienation, anticipation, sale, pledge, encumbrance,

4

 

attachment, garnishment or other legal process or (iii) in any manner liable for or subject
to the debts or liabilities of the Participant or Beneficiary. Notwithstanding the foregoing, to
the extent permitted by Section 409A of the Code, the Board shall honor a judgment, order or
decree from a state domestic relations court which requires the payment of part or all of a
Participants’ or Beneficiary’s interest under this Plan to an “alternate payee” as defined in
Section 414(p) of the Code.

     10. Amendment and Termination. The Company reserves the right to amend or terminate
the Plan at any time by action of the Board, except that no such action shall reduce the Account
balance of any Participant or his Beneficiary who has an Account, without the consent of the
Participant or Beneficiary. Notwithstanding the foregoing, in the event that the Plan is
terminated, the vested amounts allocated to a Participant’s Account shall be distributed to the
Participant or his Beneficiary on the dates on which the Participant or his Beneficiary would
otherwise receive benefits hereunder without regard to the termination of the Plan;
provided, however, that to the extent permitted by Section 409A of the Code, the
Board may direct that the Participant or his Beneficiary receive an immediate lump sum payment
equal to the vested amount credited to his Account.

     11. Governing Law. Except to the extent preempted by federal law, the provisions of
the Plan shall be governed and construed in accordance with the laws of the State of Delaware.

     12. Successors. This Plan shall be binding upon and inure to the benefit of the
Company and any successor of or to the Company, including without limitation any persons acquiring
directly or indirectly all or substantially all of the business and/or assets of the Company
whether by sale, merger, consolidation, reorganization or otherwise (and such successor shall
thereafter be deemed the “Company” for the purposes of this Plan), and the heirs, beneficiaries,
executors and administrators of each Participant.

     13. No Funding Required. The Company may create a trust to hold funds to be used in
payment of its obligations under the Plan, and may fund such trust; provided,
however, that any funds contained therein shall remain liable for the claims of the
Company’s general creditors.

     14. Compliance with Law. The Company shall make reasonable efforts to comply with all
applicable federal and state securities laws in connection with the Plan; provided,
however, notwithstanding any other provision of this Plan, the Company shall not be
obligated to issue any Common Stock pursuant to this Plan if the issuance thereof would result in a
violation of any such law, in which case the Company shall satisfy its obligations under Section 6
hereof in cash rather than shares of Common Stock.

     15. Headings; Interpretation

     (a) Headings in this Plan are inserted for convenience of reference only and are not to be
considered in the construction of the provisions hereof. Unless the context clearly requires

5

 

otherwise, the masculine pronoun wherever used herein shall be construed to include the feminine
pronoun.

     (b) Any reference in this Plan to Section 409A of the Code will also include any proposed,
temporary or final regulations, or any other guidance, promulgated with respect to such Section
409A by the U.S. Department of Treasury or the Internal Revenue Service.

     (c) For purposes of the Plan, the phrase “permitted by Section 409A of the Code,” or words or
phrases of similar import, shall mean that the event or circumstance shall only be permitted to the
extent it would not cause an amount deferred or payable under the Plan to be includible in the
gross income of a Participant or Beneficiary under Section 409A(a)(1) of the Code.

[END OF DOCUMENT]

6exv10w1

 

Exhibit 10.1

READY MIX, INC.

OFFICER/DIRECTOR INDEMNIFICATION AGREEMENT

     THIS AGREEMENT (“Agreement”) is entered into and effective this ___ day of                                         ,
2007 (“Effective Date”), by and between Ready Mix, Inc., a Nevada corporation (“Corporation”), and
                                         (the “Indemnified Party”).

     WHEREAS, the Board of Directors of the Corporation has determined that it is in the best
interest of the Corporation and its shareholders to agree to indemnify the Indemnified Party (who
is a director and/or officer of the Corporation) from and against certain liabilities for actions
taken by him during the performance of his tasks for the Corporation.

     NOW, THEREFORE, in consideration of the premises and for other good and valuable
consideration, the receipt, adequacy and sufficiency of which is hereby acknowledged, the parties
hereto agree as follows:

     1. Indemnification. The Corporation shall indemnify and hold harmless, to the fullest
extent permitted by applicable law as it presently exists or may hereafter be amended, the
Indemnified Party, if the Indemnified Party was or is made or is threatened to be made a party or a
witness or is otherwise involved in any action, suit, arbitration, alternative dispute resolution
mechanism or proceeding, whether civil, criminal, administrative or investigative (any of the
foregoing being referred to as a “Proceeding”), by reason of the fact that the Indemnified Party,
or a person for whom the Indemnified Party is the legal representative, is or was a director or
officer of the Corporation or, while a director or officer of the Corporation, is or was serving at
the request of the Corporation as a director, officer, employee or agent (a director, officer,
employee or agent is referred to as an “Indemnified Position”) of another corporate entity or of a
partnership, joint venture, trust, limited liability company enterprise or any other type of entity
(an “Other Entity”), including service with respect to employee benefit plans, against all claims,
demands, debts, duties, liabilities, judgments, fines and amounts paid in settlement and expenses
(including attorneys’ fees and expenses) actually and reasonably incurred by the Indemnified Party
in connection with the investigation, defense, negotiation and settlement of any such Proceeding
(including an action by or in the right of the Corporation) to which the Indemnified Party is or
becomes a party, or is threatened to be made a party, by reason of the fact that the Indemnified
Party is in an Indemnified Position with the Corporation or of any Other Entity. Nothwithstanding
the foregoing, no change in Nevada law shall have the effect of reducing the benefits available to
the Indemnified Party hereunder based on Nevada law as in effect on the Effective Date. For the
avoidance of doubt, this Agreement shall apply to the entire period of the Indemnified Party’s
service in an Indemnified Position, including, without limitation, the Indemnified Party’s service
as a director of the Company prior to the Effective Date.

     2. Limitations on Indemnity. No indemnity pursuant to this Agreement shall be made by
the Corporation:

 

 

	 	(a)	 	For the amount of such losses for which the Indemnified Party is indemnified
pursuant to any insurance purchased and maintained by the Corporation; or
	 
	 	(b)	 	If the Indemnified Party is liable pursuant to NRS 78.138; or
	 
	 	(c)	 	On account of any suit in which judgment is rendered against the Indemnified
Party for an accounting of profits made (i) for an improper personal profit without
full and fair disclosure to the Corporation of all material conflicts of interest and
not approved thereof by a majority of the disinterested members of the Board of
Directors of the Corporation; or (ii) from the purchase or sale by the Indemnified
Party of securities of the Corporation pursuant to the provisions of Section 16(b) of
the Securities Exchange Act of 1934 and amendments thereto or similar provisions of
any federal, state or local law; or
	 
	 	(d)	 	If it is established by clear and convincing evidence that the Indemnified
Party did not act in good faith and in a manner in which the Indemnified Party
reasonably believed to be in or not opposed to the best interests of the Corporation
or the Other Entity, as the case may be, and, with respect to any criminal action or
Proceeding, in which the Indemnified Party had no reasonable cause to believe the
Indemnified Party’s conduct was unlawful; or
	 
	 	(e)	 	If a final decision by a court having jurisdiction in the matter shall
determine that such indemnification is not lawful; or
	 
	 	(f)	 	In connection with a Proceeding (or part thereof) commenced by the
Indemnified Party if the commencement of the Proceeding (or part thereof) by the
Indemnified Person was not authorized by the Board of Directors of the Corporation.

     The termination of any action, suit or Proceeding by judgment, order, settlement, conviction
or upon a plea of nolo contendere or its equivalent, does not, of itself, create a presumption that
the person is liable pursuant to NRS 78.138 or did not act in good faith and in a manner which he
reasonably believed to be in or not opposed to the best interests of the corporation, or that, with
respect to any criminal action or Proceeding, he had reasonable cause to believe that his conduct
was unlawful.

     3. Court-Ordered Indemnification. Nothwithstanding any other provision of this
Agreement, a court of appropriate jurisdiction, upon application of the Indemnified Party and such
notice as the court shall require, may order indemnification if it determines that the Indemnified
Party is fairly and reasonably entitled to indemnification in view of all the relevant
circumstances, whether or not the Indemnified Party (i) has met the standards of conduct set forth
under Nevada law or (ii) has been adjudged liable for receipt of an improper personal benefit under
Nevada law, in which case the court may order such indemnification as the court shall deem proper.

     4. Continuation of Indemnity. All obligations of the Corporation contained in this
Agreement shall continue during the period the Indemnified Party is in an Indemnified Position and
thereafter so long as the Indemnified Party shall be subject to

2

 

any possible claim or threatened,
pending or completed Proceeding, by reason of the
fact that the Indemnified Party was in an Indemnified Position for the Corporation or any Other
Entity.

     5. Notification and Defense of Claim. Promptly after receipt by the Indemnified Party
of notice of any claim or any threatened, pending or completed Proceeding, in which the Indemnified
Party has a right to indemnification hereunder, the Indemnified Party will notify the Corporation
of the commencement thereof; provided, however, that the failure to give any such notice shall not
disqualify the Indemnified Party from the right, or otherwise affect in any manner any right of the
Indemnified Party, to indemnification or the advance of expenses under this Agreement unless the
Corporation’s ability to defend in such claim or action or to obtain proceeds under any insurance
policy is materially and adversely prejudiced thereby, and then only to the extent the Corporation
is thereby actually so prejudiced. With respect to any such Proceeding as to which the Indemnified
Party notifies the Corporation of the commencement thereof:

	 	(a)	 	The Corporation will be entitled to participate therein at its own expense;
and
	 
	 	(b)	 	Except as otherwise provided below, to the extent that it may wish, the
Corporation jointly with any other indemnifying party will be entitled to assume the
defense thereof, with counsel satisfactory to the Indemnified Party. After notice
from the Corporation to the Indemnified Party of its election to assume the defense
thereof, the Corporation will not be liable to the Indemnified Party under this
Agreement for any legal or other expenses subsequently incurred by the Indemnified
Party in connection with the defense thereof other than reasonable costs of
investigation or as otherwise provided below. The Indemnified Party shall have the
right to employ counsel in such Proceeding, but the fees and expenses of such counsel
incurred after notice from the Corporation of its assumption of the defense thereof
shall be at the expense of the Indemnified Party , unless (i) the employment of
counsel by the Indemnified Party has been authorized by the Corporation, (ii) the
Indemnified Party shall have reasonably concluded that there may be a conflict of
interest between the Corporation and the Indemnified Party in the conduct of the
defense of such action, (iii) the Corporation shall not in fact have employed counsel
to assume the defense of such action, in each of which cases the fees and expenses of
counsel shall be at the expense of the Corporation, or (iv) unless the Indemnified
Party reasonably and in good faith asserts defenses and theories of defense not
asserted by the Corporation. The Corporation shall not be entitled to assume the
defense of any Proceeding brought by or on behalf of the Corporation or as to which
the Indemnified Party shall have made the conclusion provided for in (ii) or (iv)
above.
	 
	 	(c)	 	The Corporation shall not be liable to indemnify the Indemnified Party under
this Agreement for any amounts paid in settlement of any action or claim effected
without the Corporation’s written consent. The Corporation

3

 

	 	 	 	shall not settle any
action or claim without the Indemnified Party’s written consent, unless the settlement
includes a full release of the
Indemnified Party from all liability in respect of such action or claim. Neither
the Corporation or the Indemnified Party will unreasonably withhold their consent
to any proposed settlement.

     6. Payment of Expenses. The Corporation shall pay the expenses (including attorneys’
fees) incurred by the Indemnified Party in defending any Proceeding in advance of its final
disposition, provided, however, that, to the extent required by applicable law, such payment of
expenses in advance of the final disposition of the Proceeding shall be made only upon receipt of
an undertaking by the Indemnified Party to repay all amounts advanced if it should be ultimately
determined that the Indemnified Party is not entitled to be indemnified under this Agreement or
otherwise.

     7. Enforcement.

	 	(a)	 	The Corporation expressly confirms and agrees that it has entered into this
Agreement and assumed the obligations imposed on the Corporation hereby in order to
induce the Indemnified Party to serve in an Indemnified Position for the Corporation
or an Other Entity, and acknowledges that the Indemnified Party is relying upon this
Agreement as part of the consideration for so acting.
	 
	 	(b)	 	In the event the Indemnified Party is required to bring any action to enforce
rights or to collect moneys due under this Agreement and is successful in such action,
the Corporation shall reimburse the Indemnified Party for all of the Indemnified
Party’s reasonable attorneys’ and other fees and expenses in bringing and pursuing
such action.
	 
	 	(c)	 	If a claim for indemnification or advancement of expenses under this
Agreement is not paid in full within 10 days after a written claim therefor by the
Indemnified Party has been received by the Corporation, the Indemnified Party may file
suit to recover the unpaid amount of such claim and, if successful in whole or in
part, shall be entitled to be paid the expense of prosecuting such claim. In any such
action the Corporation shall have the burden of proving that the Indemnified Party is
not entitled to the requested indemnification or advancement of expenses under
applicable law.
	 
	 	(d)	 	The Corporation’s obligation, if any, to indemnify or to advance expenses to
the Indemnified Party who was or is serving at its request as in an Indemnified
Position for an Other Entity shall be reduced by any amount such Indemnified Party may
collect as indemnification or advancement of expenses from such Other Entity.

     8. Severability. Each of the provisions of this Agreement is a separate and distinct
provision and independent of the others, so that if any provision hereof shall be held to be
invalid or unenforceable for any reason, such invalidity or unenforceability shall not affect the
validity or enforceability of the other provisions hereof.

4

 

     9. Governing Law; Binding Effect; Amendment and Termination.

	 	(a)	 	This Agreement shall be interpreted and enforced in accordance with the laws
of the State of Nevada.
	 
	 	(b)	 	This Agreement shall be binding upon the Indemnified Party and upon the
Corporation, its successors and assigns, and shall inure to the benefit of the
Indemnified Party, the Indemnified Party’s heirs, personal representatives and assigns
and to the benefit of the Corporation, its successors and assigns. The Corporation
shall require and cause any successor (whether direct or indirect by purchase, merger,
consolidation or otherwise) to all or a substantial part, of the business and/or
assets of the Corporation, by written agreement in form and substance satisfactory to
the Indemnified Party, expressly to assume and agree to perform this Agreement in the
same manner and to the same extent that the Corporation would be required to perform
if no such succession had taken place.
	 
	 	(c)	 	No amendment, modification, termination or change of this Agreement shall be
effective unless it is signed by both parties hereto. Any amendment, modification,
termination or change of this Agreement shall not adversely affect any right or
protection hereunder of any Indemnified Party in respect of any act or omission
occurring prior to the time of such repeal or modification.

     10. Additional Rights. The rights conferred on the Indemnified Party by this
Agreement shall not be exclusive of any other rights that the Indemnified Party may have or
hereafter acquire under any statute, provision of the Corporation’s Articles of Incorporation, its
bylaws, contract, vote of stockholders or disinterested directors or otherwise.

     11. Insurance. The Corporation will use its reasonable best efforts to acquire and
maintain directors and officers liability insurance, on terms and conditions deemed appropriate by
the Board of Directors of the Corporation, with the advice of counsel, covering the Indemnified
Party or any claim made against the Indemnified Party for service as a director or officer of the
Corporation and covering the Corporation for any indemnification or advance of expenses made by the
Corporation to the Indemnified Party for any claims made against the Indemnified Party for service
as a director or officer of the Corporation. Without in any way limiting any other obligation
under this Agreement, the Corporation shall indemnify the Indemnified Party for any payment by the
Indemnified Party 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 reasonable expenses
actually and reasonably incurred by the Indemnified Party in connection with a claim or action over
the coverage of any insuance referred to in the previous sentence.

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

5

 

	 	 	 	 	 
	 	READY MIX, INC.

 	 
	 	By:  	 	 
	 	Bradley E. Larson, Chief Executive Officer 	 
	 	 	 	 
	 	The Indemnified Party: 	 
	 
	 	 	 

6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00119-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00119-of-00352.parquet"}]]