Document:

EX-10.5

 Exhibit 10.5 
 RESTRICTED STOCK AWARD AGREEMENT 
 THIS RESTRICTED STOCK AWARD
AGREEMENT (this “Agreement”) is made and entered into as of the      day of         ,         (the “Date of Grant”), between
First Acceptance Corporation, a Delaware corporation (the “Company”), and                     (the “Participant”). Capitalized
terms not otherwise defined herein shall have the meaning ascribed to such terms in the First Acceptance Corporation 2002 Long Term Incentive Plan, as amended (the “Plan”). 

WHEREAS, the Company has adopted the Plan, which permits the issuance of restricted shares of the Company’s common stock, par value
$0.01 per share (the “Common Stock”); and 
 WHEREAS, pursuant to the Plan, the Board has granted an award of
restricted stock to the Participant as provided herein; 
 NOW, THEREFORE, in consideration of the mutual covenants hereinafter
set forth and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows: 

1. Grant of Restricted Stock. 
 (a) The Company hereby grants to the Participant an award (the “Award”) of                  shares of Common Stock
of the Company (the “Stock” or the “Restricted Stock”) on the terms and conditions set forth in this Agreement and as otherwise provided in the Plan. 
 (b) The Participant’s rights with respect to the Award shall remain forfeitable at all times prior to the date on which the restrictions shall lapse in accordance with Section 3 hereof.

 2. Terms and Rights as a Stockholder. 
 (a) Except as provided herein and subject to such other exceptions as may be determined by the Committee in its discretion, the “Restriction Period” for Restricted Shares granted herein shall
expire on the date that is six (6) months after the Date of Grant (as may be adjusted in accordance with Section 7 hereof.) 
 (b) The Participant shall have all rights of a stockholder with respect to the Restricted Stock, including the right to receive dividends and the right to vote such Stock, subject to the following
restrictions: 
  

	 	(i)	the Participant shall not be entitled to delivery of the stock certificate for any Stock until the expiration of the Restriction Period as to such Stock;

  

	 	(ii)	none of the Restricted Stock may be sold, assigned, transferred, pledged, hypothecated or otherwise encumbered or disposed of during the Restriction Period as to such
Stock; and 

  

	 	(iii)	except as otherwise determined by the Committee at or after the grant of the Award hereunder, all of the Restricted Stock shall be forfeited, and all rights of the
Participant to such Stock shall terminate, without further obligation on the part of the Company, unless the Participant remains in the continuous service as a director of the Company for the entire Restriction Period. 

 Any Stock, any other securities of the Company and any other property (except for cash dividends)
distributed with respect to the Restricted Stock shall be subject to the same restrictions, terms and conditions as such Restricted Stock. 
 (c) Notwithstanding the foregoing, the Restriction Period shall automatically terminate as to all Restricted Stock awarded hereunder (as to which such Restriction Period has not previously terminated)
upon the occurrence of the following events: 
  

	 	(i)	termination of the Participant’s service as a director with the Company which results from the Participant’s death, Retirement (as defined in the Plan) or
Total and Permanent Disability (as defined in the Plan); or 

  

	 	(ii)	the occurrence of a Change in Control. 

 3.
Termination of Restrictions. At the end of the Restriction Period as to any portion of the Restricted Stock, or at such earlier time as may be determined by the Committee, all restrictions set forth in this Agreement or in the Plan relating
to such portion of the Restricted Stock shall lapse as to such portion of the Restricted Stock, and a stock certificate for the appropriate number of shares of such Stock, free of the restrictions and restrictive stock legend, shall be delivered to
the Participant or the Participant’s beneficiary or estate, as the case may be, pursuant to the terms of this Agreement. 
 4. Delivery
of Stock. 
 (a) As of the date hereof, certificates representing the Restricted Stock shall be registered in the name of the
Participant and held by the Company or transferred to a custodian appointed by the Company for the account of the Participant subject to the terms and conditions of the Plan and shall remain in the custody of the Company or such custodian until
their delivery to the Participant or Participant’s beneficiary or estate as set forth in Sections 4(b) and (c) hereof or their reversion to the Company as set forth in Sections 2(b) and 4(d) hereof. 

(b) Certificates representing Restricted Stock in respect of which the Restriction Period has lapsed pursuant to this Agreement shall be
delivered to the Participant as soon as practicable following the date on which the restrictions on such Restricted Stock lapse. 
 (c) Certificates representing Restricted Stock in respect of which the Restriction Period lapsed upon the Participant’s death shall be delivered to the executors or administrators of the
Participant’s estate as soon as practicable following the receipt of proof of the Participant’s death satisfactory to the Company. 
 (d) By accepting the grant of Restricted Stock under this Agreement, Participant shall irrevocably grant to the Company a power of attorney to transfer any shares forfeited to the Company and agrees to
execute any documents requested by the Company in connection with such forfeiture and transfer. Participant hereby acknowledges that any breach by it of its obligations under this Section 4(d) would cause substantial and irreparable damage to
the Company, and that money damages would be an inadequate remedy therefore, and, accordingly, acknowledges and agrees that the Company shall be entitled to specific performance to remedy the breach of such obligations (in addition to the other
rights and remedies provided for herein). 

  
 2 

 (e) The face of each certificate representing Restricted Stock shall bear a legend in
substantially the following form: 
 TRANSFER OF THIS STOCK IS RESTRICTED IN ACCORDANCE WITH CONDITIONS PRINTED ON THE REVERSE OF
THIS CERTIFICATE. 
 (f) The reverse of each certificate representing Restricted Stock shall bear a legend in substantially the
following form: 
 THE SHARES OF STOCK EVIDENCED BY THIS CERTIFICATE ARE SUBJECT TO AND TRANSFERABLE ONLY IN ACCORDANCE WITH THAT
CERTAIN FIRST ACCEPTANCE CORPORATION LONG TERM INCENTIVE PLAN (THE “PLAN”), A COPY OF WHICH IS ON FILE AT THE PRINCIPAL OFFICE OF THE COMPANY IN NASHVILLE, TENNESSEE. NO TRANSFER OR PLEDGE OF THE SHARES EVIDENCED HEREBY MAY BE MADE EXCEPT
IN ACCORDANCE WITH AND SUBJECT TO THE PROVISIONS OF SAID PLAN. BY ACCEPTANCE OF THIS CERTIFICATE, ANY HOLDER, TRANSFEREE OR PLEDGEE HEREOF AGREES TO BE BOUND BY ALL OF THE PROVISIONS OF SAID PLAN. 

5. Effect of Lapse of Restrictions. To the extent that the Restriction Period applicable to any Restricted Stock shall have lapsed, the
Participant may receive, hold, sell or otherwise dispose of such Stock free and clear of the restrictions imposed under the Plan and this Agreement. 
 6. No Right to Continued Service. This Agreement shall not be construed as giving Participant the right to be retained as a director of the Company or any Subsidiary or Affiliate. 

7. Adjustments. The Committee shall make equitable and proportionate adjustments in the terms and conditions of, and the criteria included in,
this Award in recognition of unusual or nonrecurring events (including, without limitation, the events described in Article 11 of the Plan) affecting the Company, any Subsidiary or Affiliate, or the financial statements of the Company or any
Subsidiary or Affiliate, or of changes in applicable laws, regulations, or accounting principals in accordance with the Plan. 
 8. Amendment
to Award. Subject to the restrictions contained in Section 9 of the Plan, the Committee may waive any conditions or rights under, amend any terms of, or alter, suspend, discontinue, cancel or terminate, the Award, prospectively or
retroactively; provided that any such waiver, amendment, alteration, suspension, discontinuance, cancellation or termination that would adversely affect the rights of the Participant or any holder or beneficiary of the Award shall not to that extent
be effective without the consent of the Participant, holder or beneficiary affected. 
 9. Withholding of Taxes. If the Participant makes
an election under section 83(b) of the Code with respect to the Award, the Award made pursuant to this Agreement shall be conditioned upon the prompt payment to the Company of any applicable withholding obligations or withholding taxes by the
Participant (“Withholding Taxes”). Failure by the Participant to pay such Withholding Taxes will render this Agreement and the Award granted hereunder null and void ab initio and the Restricted Stock granted hereunder will be immediately
cancelled. If the Participant does not make an election under section 83(b) of the Code with respect to the Award, upon the lapse of the Restriction Period with respect to any portion of Restricted Stock (or property distributed with respect
thereto), the Company shall satisfy the required Withholding Taxes as set forth by Internal Revenue Service guidelines for the employer’s minimum statutory withholding with respect to Participant and issue vested shares to the Participant
without Restriction. 

  
 3 

 10. Plan Governs. The Participant hereby acknowledges receipt of a copy of the Plan and agrees to be
bound by all the terms and provisions thereof. The terms of this Agreement are governed by the terms of the Plan, and in the case of any inconsistency between the terms of this Agreement and the terms of the Plan, the terms of the Plan shall govern.

 11. Severability. If any provision of this Agreement is, or becomes, or is deemed to be invalid, illegal, or unenforceable in any
jurisdiction or as to any Person or the Award, or would disqualify the Plan or Award under any laws deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to the applicable laws, or if it cannot be
construed or deemed amended without, in the determination of the Committee, materially altering the intent of the Plan or the Award, such provision shall be stricken as to such jurisdiction, Person or Award, and the remainder of the Plan and Award
shall remain in full force and effect. 
 12. Notices. All notices required to be given under this Grant shall be deemed to be received
if delivered or mailed as provided for herein, to the parties at the following addresses, or to such other address as either party may provide in writing from time to time. 

 

			
	To the Company:	  	 First Acceptance Corporation

3813 Green Hills Village Drive
 Nashville,
Tennessee 37215
 Attn: Secretary

Facsimile: (615) 844-2898

		
	To the Participant:	  	The address then maintained with respect to the Participant in the Company’s records.

 13. Governing Law. The validity, construction and effect of this Agreement shall be determined in accordance with
the laws of the State of Delaware without giving effect to conflicts of laws principles. 
 14. Successors in Interest. This Agreement
shall inure to the benefit of and be binding upon any successor to the Company. This Agreement shall inure to the benefit of the Participant’s legal representatives. All obligations imposed upon the Participant and all rights granted to the
Company under this Agreement shall be binding upon the Participant’s heirs, executors, administrators and successors. 
 15. Resolution
of Disputes. Any dispute or disagreement which may arise under, or as a result of, or in any way related to, the interpretation, construction or application of this Agreement shall be determined by the Committee. Any determination made hereunder
shall be final, binding and conclusive on the Participant and the Company for all purposes. 

  
 4 

 IN WITNESS WHEREOF, the parties have caused this Restricted Stock Award Agreement to be duly
executed effective as of the day and year first above written. 
  

			
	FIRST ACCEPTANCE CORPORATION:
		
	By:	 	  

	Its:	 	  

			
	
	PARTICIPANT:
		
	Name:	 	  

	Address:	 	  

		 	  

 Signature Page to Restricted Stock Award Agreement 

  
 5EX-10.6

 Exhibit 10.6 
 INDEMNIFICATION AGREEMENT  
 This INDEMNIFICATION AGREEMENT (the
“AGREEMENT”) is made and entered into as of the      day of         ,         , by and between First Acceptance Corporation, a Delaware
corporation (including any successors thereto, the “COMPANY”), and                     (“INDEMNITEE”). 

RECITALS: 
 A.
Competent and experienced persons are reluctant to serve or to continue to serve corporations as directors, officers, or in other capacities unless they are provided with adequate protection through insurance or indemnification (or both) against
claims and actions against them arising out of their service to and activities on behalf of those corporations. 
 B. The
current uncertainties relating to the availability of adequate insurance for directors and officers have increased the difficulty for corporations to attract and retain competent and experienced persons. 

C. The Board of Directors of the Company (the “BOARD”) has determined that the continuation of present trends in litigation
will make it more difficult to attract and retain competent and experienced persons, that this situation is detrimental to the best interests of the Company’s stockholders, and that the Company should act to assure its directors and officers
that there will be increased certainty of adequate protection in the future. 
 D. It is reasonable, prudent, and necessary for
the Company to obligate itself contractually to indemnify its directors and officers to the fullest extent permitted by applicable law in order to induce them to serve or continue to serve the Company. 

E. Indemnitee is willing to serve and continue to serve the Company on the condition that he be indemnified to the fullest extent
permitted by law. 
 F. Concurrently with the execution of this Agreement, Indemnitee is agreeing to serve or to continue to
serve as a director or officer of the Company. 
 AGREEMENTS: 

NOW, THEREFORE, in consideration of the foregoing premises, Indemnitee’s agreement to serve or continue to serve as a director or
officer of the Company, and the covenants contained in this Agreement, the Company and Indemnitee hereby covenant and agree as follows: 
 1. Certain Definitions: 
 For purposes of this Agreement: 

(a) Change of Control: shall mean the occurrence of any of the following events: 

 (i) The acquisition by any individual, entity, or group (within the meaning of
Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “EXCHANGE ACT”))(a “PERSON”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 20% or more
of either (x) the then outstanding shares of common stock of the Company (the “OUTSTANDING COMPANY COMMON STOCK”) or (y) the combined voting power of the then outstanding voting securities of the Company entitled to vote
generally in the election of directors (the “OUTSTANDING COMPANY VOTING SECURITIES”); provided, however, that for purposes of this paragraph (i), the following acquisitions shall not constitute a Change of Control: (A) any acquisition
directly from the Company or any Subsidiary thereof, (B) any acquisition by the Company or any Subsidiary thereof, (C) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any Subsidiary
of the Company, or (D) any acquisition by any entity or its security holders pursuant to a transaction which complies with clauses (A) and (B) of paragraph (iii) below; or 

(ii) Individuals who, as of the date of this Agreement, constitute the Board (the “INCUMBENT BOARD”) cease for any reason to
constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the date of this Agreement whose election, or nomination for election by the Company’s stockholders, was approved by a vote of
at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office
occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; or 

(iii) Consummation of a reorganization, merger, or consolidation or sale or other disposition of all or substantially all of the assets
of the Company or an acquisition of assets of another entity (a “BUSINESS COMBINATION”), in each case, unless, immediately following such Business Combination, (A) the individuals and entities who were the beneficial owners,
respectively, of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of, respectively, the then outstanding shares of
common stock or other equity interests and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors (or similar governing body), as the case may be, of the entity resulting from such
Business Combination (including, without limitation, an entity which as a result of such transaction owns the Company or all or substantially all of the Company’s assets either directly or through one or more Subsidiaries) in proportions not
materially different from their ownership, immediately prior to such Business Combination, of the Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be, and (B) at least a majority of the members of the
board of directors (or similar governing body) of the entity resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, providing for such
Business Combination, or 
 (iv) Approval by the stockholders of the Company of a complete liquidation or dissolution of the
Company. 
 (b) Claim: shall mean any threatened, pending, or completed action, suit, or proceeding (including, without
limitation, securities laws actions, suits, and proceedings and also any cross claim or counterclaim in any action, suit, or proceeding), whether civil, criminal, arbitral, administrative, or investigative in nature, or any inquiry or investigation
(including discovery), whether conducted by the Company or any other Person. 

  
 2 

 (c) Expenses: shall mean all costs, fees and expenses (including, without limitation,
attorneys’ and expert witnesses’ fees and disbursements, fees of private investigators and professional advisors, court costs, transcript costs and travel expenses), and obligations paid or incurred in connection with investigating,
defending (including affirmative defenses and counterclaims), being a witness in, or participating in (including on appeal), or preparing to defend, be a witness in, or participate in, any Claim relating to any Indemnifiable Event. 

(d) Indemnifiable Event: shall mean any actual or alleged act, omission, statement, misstatement, event, or occurrence related to
the fact that Indemnitee is or was a director, officer, agent, or fiduciary of the Company, or is or was serving at the request of the Company as a director, officer, trustee, agent, or fiduciary of another corporation, partnership, joint venture,
employee benefit plan, trust, or other enterprise, or by reason of any actual or alleged thing done or not done by Indemnitee in any such capacity. For purposes of this Agreement, the Company agrees that Indemnitee’s service on behalf of or
with respect to any Subsidiary or employee benefits plan of the Company or any Subsidiary of the Company shall be deemed to be at the request of the Company. 
 (e) Indemnifiable Liabilities: shall mean all Expenses and all other liabilities, damages (including, without limitation, punitive, exemplary, and the multiplied portion of any damages), judgments,
payments, fines, penalties, amounts paid in settlement, and awards paid or incurred that arise out of, or in any way relate to, any Indemnifiable Event. 
 (f) Potential Change of Control: shall be deemed to have occurred if (i) the Company enters into an agreement, the consummation of which would result in the occurrence of a Change of Control;
(ii) any Person (including the Company) publicly announces an intention to take or to consider taking actions that, if consummated, would constitute a Change in Control; or (iii) the Board adopts a resolution to the effect that, for
purposes of this Agreement, a Potential Change of Control has occurred. 
 (g) Reviewing Party: shall mean (i) a
member or members of the Board who are not parties to the particular Claim for which Indemnitee is seeking indemnification or (ii) if a Change of Control has occurred and Indemnitee so requests, or if the members of the Board so elect, or if
all of the members of the Board are parties to such Claim, Special Counsel. 
 (h) Special Counsel: shall mean special,
independent legal counsel selected by Indemnitee and approved by the Company (which approval shall not be unreasonably withheld), and who has not otherwise performed material services for the Company or for Indemnitee within the last three years
(other than as Special Counsel under this Agreement or similar agreement). 
 (i) Subsidiary: shall mean, with respect to
any Person, any corporation or other entity of which a majority of the voting power of the voting equity securities or equity interest is owned, directly or indirectly, by that Person. 

2. Indemnification and Expense Advancement. 
 (a) The Company shall indemnify Indemnitee and hold Indemnitee harmless to the fullest extent permitted by law, as soon as practicable but in any event no later than 30 days after written demand is
presented to the Company, from and against any and all Indemnifiable Liabilities. In connection with the foregoing obligation, the Company agrees that the Reviewing Party shall make a determination (in a written opinion, in any case in which Special
Counsel is involved) as to Indemnitee’s entitlement to indemnification under Section 145 of the Delaware General Corporation Law, as amended from time to time (“APPLICABLE LAW”). Notwithstanding the foregoing, nothing contained
in this Agreement shall require any determination under this Section 2(a) to be made by the Reviewing Party prior to the disposition or conclusion of the Claim against the Indemnitee. If there has been a Change of Control, the Reviewing Party
shall be Special Counsel, if Indemnitee so requests, in accordance with the terms of Section 3 hereof. 

  
 3 

 (b) If so requested by Indemnitee, the Company shall advance to Indemnitee all reasonable
Expenses incurred by Indemnitee to the fullest extent permitted by law (or, if applicable, reimburse Indemnitee for any and all reasonable Expenses incurred by Indemnitee and previously paid by Indemnitee) within ten business days after such request
(an “EXPENSE ADVANCE”). The Company shall be obligated from time to time at the request of Indemnitee to make or pay an Expense Advance in advance of the final disposition or conclusion of any Claim and in advance of any determination by
the Reviewing Party as to Indemnitee’s entitlement to indemnification hereunder. 
 (c) If, when, and to the extent that
the Reviewing Party determines that Indemnitee would not permitted to be indemnified with respect to a Claim under Applicable Law, the Company shall be entitled to be reimbursed by Indemnitee and Indemnitee hereby agrees to reimburse the Company
without interest (which agreement shall be an unsecured obligation of Indemnitee) for all related Expense Advances theretofore made or paid by the Company in the event that it is determined that indemnification would not be permitted under
Applicable Law, if and only to the extent such reimbursement is required by Applicable Law; provided, however, that if Indemnitee commences legal proceedings in a court of competent jurisdiction to secure a determination that Indemnitee could be
indemnified under Applicable Law, any determination made by the Reviewing Party that Indemnitee would not be permitted to be indemnified under Applicable Law shall not be binding, and the Company shall be obligated to continue to make Expense
Advances until a final judicial determination is made with respect thereto (as to which all rights of appeal therefrom have been exhausted or lapsed), which determination shall be conclusive and binding. If there has been no determination by the
Reviewing Party or if the Reviewing Party determines that Indemnitee substantively is not permitted to be indemnified in whole or part under Applicable Law, Indemnitee shall have the right to commence litigation in the Delaware Court of Chancery to
enforce the Company’s obligations and the Indemnitee’s rights under this Agreement or to challenge any adverse determination made by the Reviewing Party or any aspect thereof, and the Company hereby consents to service of process and to
appear in any such proceeding. 
 (d) Nothing in this Agreement, however, shall require the Company to indemnify Indemnitee with
respect to any Claim initiated by Indemnitee, other than a Claim solely seeking enforcement of the Company’s indemnification obligations to Indemnitee or the Indemnitee’s rights under this Agreement, any counterclaims or affirmative
defenses asserted by Indemnitee in an action brought against Indemnitee, or a Claim authorized by the Board. 
 3. Change of
Control. The Company agrees that if there is a Change of Control and if Indemnitee requests in writing that Special Counsel be the Reviewing Party, then Special Counsel shall be the Reviewing Party. In such a case, the Company agrees not to
request or seek reimbursement from Indemnitee of any indemnification payment or Expense Advances unless Special Counsel has rendered its written opinion to the Company and Indemnitee that the Company was not or is not permitted under Applicable Law
to indemnify Indemnitee. However, if Indemnitee has commenced legal proceedings in a court of competent jurisdiction to secure a determination that Indemnitee could be indemnified under Applicable Law, any determination made by Special Counsel that
Indemnitee would not be permitted to be indemnified under Applicable Law shall not be binding, and the Company shall be obligated to continue to make Expense Advances, until a final judicial determination is made with respect thereto (as to which
all rights of appeal therefore have been exhausted or lapsed), which determination shall be conclusive and binding. The Company agrees to pay the fees of Special Counsel and to indemnify Special Counsel against any and all expenses (including
attorneys’ fees), claims, liabilities, and damages arising out of or relating to this Agreement or Special Counsel’s engagement pursuant hereto. 

  
 4 

 4. Establishment of Trust. In the event of a Potential Change of Control or a Change
of Control, the Company shall, upon written request by Indemnitee, create a trust for the benefit of Indemnitee (the “TRUST”) and from time to time upon written request of Indemnitee shall fund the Trust in an amount equal to all
Indemnifiable Liabilities reasonably anticipated at the time to be incurred in connection with any Claim. The amount to be deposited in the Trust pursuant to the foregoing funding obligation shall be determined by the Reviewing Party. The terms of
the Trust shall provide that, upon a Change of Control, (i) the Trust shall not be revoked or the principal thereof invaded, without the written consent of Indemnitee; (ii) the trustee of the Trust shall advance, within ten business days
of a request by Indemnitee, any and all reasonable Expenses to Indemnitee (and Indemnitee hereby agrees to reimburse the Trust under the circumstances in which Indemnitee would be required to reimburse the Company for Expense Advances under this
Agreement), (iii) the Trust shall continue to be funded by the Company in accordance with the funding obligation set forth above; (iv) the trustee of the Trust shall promptly pay to Indemnitee all amounts for which Indemnitee shall be
entitled to indemnification pursuant to this Agreement; and (v) all unexpended funds in the Trust shall revert to the Company upon a final determination by the Reviewing Party or a court of competent jurisdiction, as the case may be, that
Indemnitee has been fully indemnified under the terms of this Agreement. The trustee of the Trust shall be chosen by Indemnitee, and shall be an institution that is not affiliated with Indemnitee. Nothing in this Section 4 shall relieve the
Company of any of its obligation under this Agreement. 
 5. Indemnification for Additional Expenses. The Company shall
indemnify Indemnitee against any and all costs and expenses (including attorneys’ and expert witnesses’ fees) and, if requested by Indemnitee, shall (within two business days of that request) advance those costs and expenses to Indemnitee,
that are incurred by Indemnitee if Indemnitee, whether by formal proceedings or through demand and negotiation without formal proceedings: (a) seeks to enforce Indemnitee’s rights under this Agreement, (b) seeks to enforce
Indemnitee’s rights to expense advancement or indemnification under any other agreement or provision of the Company’s Certificate of Incorporation (the “CERTIFICATE OF INCORPORATION”) or Bylaws (the “BYLAWS”) now or
hereafter in effect relating to Claims for Indemnifiable Events, or (c) seeks recovery under any directors’ and officers’ liability insurance policies maintained by the Company, in each case regardless of whether Indemnitee ultimately
prevails; provided that a court of competent jurisdiction has not found Indemnitee’s claim for indemnification or expense advancements under the foregoing clauses (a), (b) or (c) to be frivolous, presented for an improper purpose,
without evidentiary support, or otherwise sanctionable under Federal Rule of Civil Procedure No. 11 or an analogous rule or law, and provided further, that if a court makes such a finding, Indemnitee shall reimburse the Company for all amounts
previously advanced to Indemnitee pursuant to this Section 5. Subject to the provisos contained in the preceding sentence, to the fullest extent permitted by law, the Company waives any and all rights that it may have to recover its costs and
expenses from Indemnitee. 
 6. Partial Indemnity. If Indemnitee is entitled under any provision of this Agreement to
indemnification by the Company for some, but not all, of Indemnitee’s Indemnifiable Liabilities, the Company shall indemnify Indemnitee for the portion thereof to which Indemnitee is entitled. 

7. Contribution. 
 (a) Contribution Payment. To the extent the indemnification provided for under any provision of this Agreement is determined (in the manner hereinabove provided) not to be permitted under
applicable law, the Company, in lieu of indemnifying Indemnitee, shall, to the extent permitted by law, contribute to the amount of any and all Indemnifiable Liabilities incurred or paid by Indemnitee for which such indemnification is not permitted.
The amount the Company contributes shall be in such proportion as is appropriate to reflect the relative fault of Indemnitee, on the one hand, and of the Company and any and all other parties (including officers and directors of the Company other
than Indemnitee) who may be at fault (collectively, including the Company, the “THIRD PARTIES”), on the other hand. 

  
 5 

 (b) Relative Fault. The relative fault of the Third Parties and the Indemnitee shall
be determined (i) by reference to the relative fault of Indemnitee as determined by the court or other governmental agency or (ii) to the extent such court or other governmental agency does not apportion relative fault, by the Reviewing
Party after giving effect to, among other things, the relative intent, knowledge, access to information, and opportunity to prevent or correct the relevant events, of each party, and other relevant equitable considerations. The Company and
Indemnitee agree that it would not be just and equitable if contribution were determined by pro rata allocation or by any other method of allocation that does take account of the equitable considerations referred to in this Section 7(b).

 8. Burden of Proof. In connection with any determination by the Reviewing Party or in any judicial proceeding to
determine whether Indemnitee is entitled to be indemnified under any provisions of this Agreement or to receive contribution pursuant to Section 7 of this Agreement, to the extent permitted by law the burden of proof shall be on the Company to
establish that Indemnitee is not so entitled. 
 9. No Presumption. For purposes of this Agreement, the termination of
any Claim by judgment, order, settlement (whether with or without court approval), or conviction, or upon a plea on nolo contendere, or its equivalent, or an entry of an order of probation prior to judgment shall not create a presumption (other than
any presumption arising as a matter of law that the parties may not contractually agree to disregard) that Indemnitee did not meet any particular standard of conduct or have any particular belief or that a court has determined that indemnification
is not permitted by applicable law. 
 10. Non-exclusivity; Changes in Law. The rights of Indemnitee hereunder shall be
in addition to any other rights Indemnitee may have under the Bylaws or Certificate of Incorporation or the Delaware General Corporation Law or otherwise. To the extent that a change in the Delaware General Corporation Law (whether by statute or
judicial decision) permits greater indemnification or advancement of expenses by agreement than would be afforded currently under this Agreement, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater
benefits so afforded by that change, and this Agreement shall be deemed to be amended to such extent. Indemnitee’s rights under this Agreement shall not be diminished by any amendment to the Certificate of Incorporation or Bylaws, or of any
other agreement or instrument to which Indemnitee is not a party, and shall not diminish any other rights that Indemnitee now or in the future has against the Company. 
 11. Liability Insurance. The Company shall use commercially reasonable efforts to obtain and maintain in effect an insurance policy or policies with a reputable insurer providing directors’
and officers’ liability insurance coverage to Indemnitee in an amount which is not less than the greater of (i) $10 million, or (ii) the maximum amount of coverage available for the most favorably insured of the Company’s
officers and directors, which policy or policies shall name the Indemnitee as an insured in such a manner as to provide Indemnitee the same rights and benefits as are accorded to the most favorably insured of the Company’s officers and
directors. 
 12. Period of Limitations. No action, lawsuit, or proceeding may be brought against Indemnitee or
Indemnitee’s spouse, heirs, executors, or personal or legal representatives, nor may any cause of action be asserted in any such action, lawsuit, or proceeding, by or on behalf of the Company, after the expiration of two years after the statute
of limitations commences with respect to Indemnitee’s act or omission that gave rise to the action, lawsuit, proceeding, or cause of action; provided, however, that, if any shorter period of limitations is otherwise applicable to any such
action, lawsuit, proceeding, or cause of action, the shorter period shall govern. 

  
 6 

 13. Amendments. 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 provision of this Agreement shall be effective unless in a writing signed by the party granting the waiver. 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 that waiver constitute a continuing waiver. 
 14. Other Sources. Indemnitee shall not be required to exercise any rights that Indemnitee may have against any other Person (for example, under an insurance policy) before Indemnitee enforces his
rights under this Agreement. However, to the extent the Company actually indemnifies Indemnitee or advances him Expenses, the Company shall be subrogated to the rights of Indemnitee and shall be entitled to enforce any such rights which Indemnitee
may have against third parties. Indemnitee shall assist the Company in enforcing those rights if it pays his costs and expenses of doing so. If Indemnitee is actually indemnified or advanced Expenses by any third party, then, for so long as
Indemnitee is not required to disgorge the amounts so received, to that extent the Company shall be relieved of its obligation to indemnify Indemnitee or advance Indemnitee Expenses. 

15. Binding Effect. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and
their respective successors, assigns (including any direct or indirect successor by merger or consolidation), spouses, heirs, and personal and legal representatives. This Agreement shall continue in effect regardless of whether Indemnitee continues
to service as an officer or director of the Company or another enterprise at the Company’s request. 
 16.
Severability. If any provision of this Agreement is held to be illegal, invalid, or unenforceable under present or future laws effective during the term hereof, that provision shall be fully severable; this Agreement shall be construed and
enforced as if that illegal, invalid, or unenforceable provision had never comprised a part hereof; and the remaining provisions shall remain in full force and effect and shall not be affected by the illegal, invalid, or unenforceable provision or
by its severance from this Agreement. Furthermore, in lieu of that illegal, invalid, or unenforceable provision, there shall be added automatically as a part of this Agreement a provision as similar in terms to the illegal, invalid, or unenforceable
provision as may be possible and be legal, valid, and enforceable. 
 17. Governing Law; Consent to Jurisdiction; Service of
Process. This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Delaware applicable to contracts made and to be performed in that state without giving effect to the principles of conflicts of
laws. Each of the Company and the Indemnitee hereby irrevocably and unconditionally consents to submit to the exclusive jurisdiction of the Court of Chancery of the State of Delaware and the courts of the United States of America located in the
State of Delaware (the “DELAWARE COURTS”) for any litigation arising out of or relating to this Agreement and the transactions contemplated hereby (and agrees not to commence any litigation relating thereto except in such courts), waives
any objection to the laying of venue of any such litigation in the Delaware Courts and agrees not to plead or claim in any Delaware Court that such litigation brought therein has been brought in an inconvenient forum. Each of the parties hereto
agrees (a) to the extent such party is not otherwise subject to service of process in the State of Delaware, to appoint and maintain an agent in the State of Delaware as such party’s agent for acceptance of legal process, and (b) that
service of process may also be made on such party by prepaid certified mail with a proof of mailing receipt validated by the United States Postal Service constituting evidence of valid service. Service made pursuant to (a) or (b) above
shall have the same legal force and effect as if served upon such party personally within the State of Delaware. 

  
 7 

 18. Headings. The headings contained in this Agreement are for reference purposes
only and shall not affect in any way the meaning or interpretation of this Agreement. 
 19. Notices. Whenever this
Agreement requires or permits notice to be given by one party to the other, such notice shall be in writing and shall be deemed to have been duly given (a) when delivered by hand, (b) when transmitted by facsimile and receipt is
acknowledged, or (c) if mailed by certified or registered mail with postage prepaid, on the third business day after the date on which it is so mailed, to the address of the respective party as listed on the signature page hereto, or to such
other address as may have been furnished in the same manner by any party to the other. Receipt of a notice by the Secretary of the Company shall be deemed receipt of such notice by the Company. 

20. Complete Agreement. This Agreement and the other agreements entered into concurrently herewith by the Company and the
Indemnitee constitute the complete understanding and agreement among the parties with respect to the subject matter hereof and supersedes all prior agreements and understandings between the parties with respect to the subject matter hereof, other
than any indemnification rights that Indemnitee may enjoy under the Certificate of Incorporation, the Bylaws, or the Delaware General Corporation Law. 
 21. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original, but in making proof hereof it shall not be necessary to produce or account
for more than one such counterpart. 
 * * * * * 

  
 8 

 EXECUTED as of the date first written above. 

 

			
	FIRST ACCEPTANCE CORPORATION
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	INDEMNITEE
	
	  

	Name	 	

  
 9

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00213-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00213-of-00352.parquet"}]]