Document:

exv10w20

 

Exhibit 10.20

EMPLOYMENT AGREEMENT

     This EMPLOYMENT AGREEMENT (the “Agreement”) is entered into on July 27, 2006 (“the
Commencement Date”) by and between Synthesis Energy Systems, Inc., a Delaware corporation
(the “Corporation”), and Carol Pearson, an individual residing at 5 Robin Trail, Conroe,
Texas (the “Executive”) under the terms and conditions set forth in this Agreement.

RECITALS:

     WHEREAS, the Corporation desires to employ the Executive in the capacity hereinafter stated,
and the Executive desires to enter into the employ of the Corporation in such capacity for the
period and on the terms and conditions set forth herein;

     NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth below, it is
hereby covenanted and agreed by the Corporation and the Executive as follows:

     1. Employment Period. The Corporation hereby agrees to employ the Executive as its
Corporate Controller, and the Executive, in such capacities, agrees to provide services to the
Corporation for the period beginning on the Commencement Date and ending on July 27, 2010 (the
“Employment Period”).

     2. Performance of Duties. The Executive agrees that during the Employment Period,
while she is employed by the Corporation, she shall devote her full time, energies and talents
exclusively to serving in the capacities as the Corporation’s Corporate Controller, and in the best
interests of the Corporation, and to perform the duties assigned to her by the Chief Executive
Officer or Chief Financial Officer of the Corporation faithfully, efficiently and in a professional
manner. The Executive shall not, without prior written consent from the Chief Executive Officer
(which consent shall not be unreasonably withheld):

          (a) serve as or be a consultant to or employee, officer, agent or director of any corporation,
partnership or other entity other than (A) the Corporation, or (B) civic, charitable, or other
public service organizations; or

          (b) have more than a five percent (5%) ownership interest in any enterprise other than the
Corporation if such ownership interest would have a material adverse effect upon the ability of the
Executive to perform her duties hereunder; provided, however, the Executive shall
(i) disclose to the Board of Directors of the Corporation (the “Board”) any 5% ownership
interest in any enterprise, (ii) disclose any financial relationship or ownership (regardless of
such percentage), with any supplier, customer or partner of the Corporation or any of its
subsidiaries, and (iii) not cause a conflict of interest between the Corporation or any of its
subsidiaries on the one hand and any supplier, customer or partner of the Corporation or any of its
subsidiaries on the other hand.

 

 

     3. Compensation. Subject to the terms and conditions of this Employment Agreement,
during the Employment Period, while she is employed by the Corporation, the Executive shall be
compensated by the Corporation for her services as follows:

          (a) Beginning on the Commencement Date, the Executive shall be entitled to an initial base
salary of $10,833.33 per month, payable at the end of each month during the Employment Period
(except that the salary to be paid during the first and last month of the Employment Period shall
be on a pro rata basis determined by a fraction the numerator of which is the number of business
days the Executive worked during such month and the denominator of which is the number of business
days in such month) and subject to normal tax withholding.

          (b) The Executive shall be entitled to an annual performance-based bonus up to 20% of the
annual base salary set forth in paragraph 3(a) as determined by the Chief Executive Officer.

          (c) The Executive shall be entitled during the Employment Period, upon satisfaction of all
eligibility requirements, if any, to participate in all health, dental, disability, life insurance
and other benefit programs now or hereafter established by the Corporation which cover
substantially all other of the Corporation’s employees located in the United States and shall
receive such other benefits as may be approved from time to time by the Corporation.

          (d) The Executive shall be entitled to an annual paid vacation equal to two (2) weeks per year
(as prorated for partial years), which vacation may be taken at such times as the Executive elects
with due regard to the needs of the Corporation.

          (e) The Executive shall be reimbursed by the Corporation for all reasonable business,
promotional, travel and entertainment expenses incurred or paid by the Executive during the
Employment Period in the performance of her services under this Agreement: (i) provided that such
expenses constitute business deductions from taxable income for the Corporation and are excludable
from taxable income to the Executive under the governing laws and regulations of the Internal
Revenue Code; (ii) to the extent that such expenses do not exceed the amounts allocable for such
expenses in budgets that are approved from time to time by the Corporation and are not in violation
of the Corporation’s expense reimbursement policies; and (iii) provided that the Executive provides
the Corporation with the corresponding expense reports in a timely manner consistent with the
Corporation’s policies. Notwithstanding the foregoing, in the event of extraordinary or unusual
expenses, the Executive shall first obtain the Chief Executive Officer’s prior written approval
prior to incurring such expenses. In order that the Corporation reimburse the Executive for such
allowable expenses, the Executive shall furnish to the Corporation, in a timely fashion, the
appropriate documentation required by the Internal Revenue Code in connection with such expenses
and shall furnish such other documentation and accounting as the Corporation may from time to time
reasonably request.

          (f) The Executive shall be entitled to participate in the Corporation’s

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2005 Incentive Plan (the “Plan”) pursuant to the terms and conditions set forth
therein and the discretion of the Board. In connection with the Plan, the Executive shall be
granted options to purchase up to 30,000 shares of the Corporation’s capital stock at an exercise
price equal to $6.25 per share, which options shall vest as follows: 6,000 shares shall vest as of
the date which is thirty-one (31) days after the Commencement Date, and the remainder of such
options shall vest on the following four (4) annual anniversary dates of the Commencement Date in
equal installments of 6,000 shares. Such options shall also be subject to such other requirements
set forth in a Stock Option Agreement to be entered into by and between the Corporation and the
Executive.

     4. Restrictive Covenants. The Executive acknowledges and agrees that: (i) the
Executive has a major responsibility for the operation, development and growth of the Corporation’s
business; (ii) the Executive’s work for the Corporation has brought her and will continue to bring
her into close contact with confidential information of the Corporation and its customers; and
(iii) the agreements and covenants contained in this paragraph 4 are essential to protect the
business interests of the Corporation and that the Corporation will not enter into the Employment
Agreement but for such agreements and covenants. Accordingly, the Executive covenants and agrees
to the following:

          (a) Confidential Information. Except as may be required by the lawful order of a
court or agency of competent jurisdiction, the Executive agrees to keep secret and confidential,
both during the Employment Period and for five (5) years after the Executive’s employment with the
Corporation terminates, all non-public information concerning the Corporation and its affiliates
that was acquired by, or disclosed to, the Executive during the course of her employment by the
Corporation or any of its affiliates, including information relating to customers (including,
without limitation, credit history, repayment history, financial information and financial
statements), costs, and operations, financial data and plans, whether past, current or planned and
not to disclose the same, either directly or indirectly, to any other person, firm or business
entity, or to use it in any way; provided, however, that the provisions of this
paragraph 4(a) shall not apply to information that: (a) was, is now, or becomes generally available
to the public (but not as a result of a breach of any duty of confidentiality by which the
Executive is bound); (b) was disclosed to the Executive by a third party not subject to any duty of
confidentiality to the Corporation prior to its disclosure to the Executive; or (c) is disclosed by
the Executive in the ordinary course of the Corporation’s business as a proper part of her
employment in connection with communications with customers, vendors and other proper parties,
provided that it is for a proper purpose solely for the benefit of the Corporation. The Executive
further agrees that she shall not make any statement or disclosure that (i) would be prohibited by
applicable Federal or state laws, or (ii) is intended or reasonably likely to be detrimental to the
Corporation or any of its subsidiaries or affiliates.

          (b) Non-Competition. The Executive agrees that for the period commencing on the
Commencement Date and ending on (x) the eighteen (18) month anniversary if the Executive is
terminated for cause or voluntarily resigns, or (y) on the first (1st) anniversary if
the Executive is terminated without cause or resigns for good reason, of the date on which the
Executive’s employment with the Corporation is

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terminated (the “Non-Competition Period”), the Executive shall not directly or
indirectly, alone or as a partner, officer, director, employee, consultant, agent, independent
contractor, member or stockholder of any person or entity (“Person”), engage in any
business activity in the People’s Republic of China, the Republic of India, the United States of
America or any other country in which the Corporation or any of its subsidiaries is then doing
business, which is directly or indirectly in competition with the Business of the Corporation or
which is directly or indirectly detrimental to the Business or business plans of the Corporation or
its affiliates; provided, however, that the record or beneficial ownership by the
Executive of five percent (5%) or less of the outstanding publicly traded capital stock of any
company for investment purposes shall not be deemed to be in violation of this paragraph 4(b) so
long as the Executive is not an officer, director, employee or consultant of such Person. The
“Business” of the Corporation shall mean the actual or intended business of the Corporation
during the Employment Period and as of the date the Executive leaves the employment of the
Corporation, including, but not limited to, poly-generation and syngas production. As of the date
hereof, the Business of the Corporation is to provide distributed power, utility services and coal
gasification plant development, operations and maintenance based on coal gasification technology.
The restrictions set forth in this paragraph
4(b) are note applicable to large scale public
utilities that may have gasification operations, provided that these utilities do not utilize U-Gas
or other low-Btu coal gasification technologies or the downstream products derived from these
technologies. The Executive further agrees that during the Non-Competition Period, she shall not
in any capacity, either separately or in association with others: (i) employ or solicit for
employment or endeavor in any way to entice away from employment with the Corporation or its
affiliates any employee of the Corporation or its affiliates; (ii) solicit, induce or influence any
supplier, customer, agent, consultant or other person or entity that has a business relationship
with the Corporation to discontinue, reduce or modify such relationship with the Corporation; nor
(iii) solicit any of the Corporation’s identified potential acquisition candidates.

          (c) Remedies. If the Executive breaches, or threatens to commit a breach of any of
the provisions contained in paragraphs 4(a) or 4(b) (the “Restrictive Covenants”), the
Executive acknowledges and agrees that the Corporation shall have no adequate remedy at law and
shall therefore be entitled to enforce each such provision by temporary or permanent injunction or
mandatory relief obtained in any court of competent jurisdiction without the necessity of proving
damages, posting any bond or other security, and without prejudice to any other rights and remedies
that may be available at law or in equity.

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

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

     5. Termination and Compensation Due Upon Termination. The Executive’s right to
compensation for periods after the date the Executive’s employment with the Corporation terminates
shall be determined in accordance with the following:

          (a) Termination Without Cause. In the event the Corporation terminates the
Executive’s employment under this Agreement without cause during the first twelve (12) months of
the Employment Period, the Corporation shall pay the Executive any compensation and benefits the
Corporation owes to the Executive through July 27, 2007. Additionally, and conditioned upon the
Executive’s voluntary execution of a written release (to be drafted and provided by the
Corporation) of any and all claims, including without limitation any claims for lost wages or
benefits, stock options, compensatory damages, punitive damages, attorneys’ fees, equitable relief,
or any other form of damages or relief the Executive may assert against the Corporation, the
Executive shall be entitled to receive any unvested stock options described in paragraph 3(f) shall
automatically vest as of the date of such termination.

          (a) Voluntary Resignation. The Executive may terminate her employment with the
Corporation for any reason (or no reason at all) at any time by giving the Corporation sixty (60)
days prior written notice of voluntary resignation; provided, however, that the
Corporation may decide that the Executive’s voluntary resignation be effective (i) immediately upon
notice of such resignation, or (ii) or such period that is less than the 60-day period set forth in
the Executive’s notice of resignation. The Corporation shall have no obligation to make payments
to the Executive in accordance with the provisions of paragraph 3 for periods after the date on
which the Executive’s employment with the Corporation terminates due to the Executive’s voluntary
resignation. However, for purposes of this paragraph 5, the Executive’s termination of employment
with the Corporation shall not be construed as a voluntary resignation and shall be construed as
“good reason” if the Executive resigns following the occurrence of one of the following events:

          (i) the relocation of the Executive’s office outside of the greater Houston, Texas
metropolitan area; or

          (ii) a material breach of any of the provisions of paragraph 3.

If the Executive terminates her employment with the Corporation for “good reason”, then the
Executive shall be entitled to receive:

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          (x) all payment of her Base Salary (as of the date of termination date) in accordance
with the provisions of paragraph 3(a) for the remainder of the Employment Period;
provided, however, that any such payments shall not be for more than twelve
(12) months; and

          (y) any unvested stock options described in paragraph 3(i) shall automatically vest as
of the date of such termination.

          (b) Termination for Cause. The Executive may be terminated for cause. The
Corporation shall have no obligation to make payments to the Executive in accordance with the
provisions of paragraph 3 or otherwise for periods after the Executive’s employment with the
Corporation is terminated on account of the Executive’s discharge for cause. For purposes of this
Agreement, the Executive shall be considered terminated for “cause” if she is discharged by
the Corporation on account of the occurrence of one or more of the following events:

          (i) the Executive becomes habitually addicted to drugs or alcohol;

          (ii) the Executive discloses confidential information in violation of paragraph 4(a)
and such disclosure has a material adverse effect on the Corporation, or engages in
competition in violation of paragraph 4(b);

          (iii) the Corporation is directed by regulatory or governmental authorities to
terminate the employment of the Executive or the Executive engages in activities that cause
actions to be taken by regulatory or governmental authorities that have a material adverse
effect on the Corporation;

          (iv) the Executive is indicted of a felony crime (other than a felony resulting from a
minor traffic violation);

          (v) the Executive flagrantly disregards her duties under this Agreement after (A)
written notice has been given to the Executive by the Board that it views the Executive to
be flagrantly disregarding her duties under this Agreement and (B) the Executive has been
given a period of ten (10) days after such notice to cure such misconduct;

          (vi) any event of egregious misconduct involving serious moral turpitude to the extent
that, in the reasonable judgment of the Board, the Executive’s credibility and reputation no
longer conform to the standard of the Corporation’s executives; or

          (vii) the Executive commits an act of fraud against the Corporation.

          (c) Disability. The Corporation shall have no obligation to make payments to the
Executive in accordance with the provisions of paragraph 3 for periods after the date the
Executive’s employment with the Corporation terminates on account of

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disability, except payments due and owing through the effective date of termination (provided,
however, that if such disability occurs during the first 12 months of the Employment Period, the
$26,000 bonus described in Section 3(b) shall be deemed due and owing as of the effective date of
termination). The Executive, however, shall be entitled to retain all shares of stock that have
vested as of such date. For purposes of this paragraph 5(d), determination of whether the
Executive is disabled shall be determined in accordance with the Corporation’s long term disability
plan (if any) and applicable law.

          (d) Death. The Corporation shall have no obligation to make payments to the Executive
in accordance with the provisions of paragraph 3 for periods after the date of the Executive’s
death, except payments due and owing as of such date (provided, however, that if the death occurs
during the first 12 months of the Employment Period, the $26,000 bonus described in Section 3(b)
shall be deemed due and owing as of the date of death). The Executive’s estate, however, shall be
entitled to retain all shares of stock that have vested as of such date.

          (e) Stock Options. In the event of the termination of this Agreement (regardless of
reason), and notwithstanding anything to the contrary contained herein, the Executive must exercise
all vested stock options issued to the Executive pursuant to this Agreement within six (6) months
after the effective termination date of this Agreement.

          (f) Specified Employee. If the Executive is a “specified employee” as such term is
defined under Section 409A of the Code on the date of such Executive’s termination of employment
and if the benefit to be provided under this Section 5 is subject to Section 409A of the Code and
is payable on account of a termination of employment for reasons other than death or disability (as
defined in such Section 409A), payment in respect of such benefit shall not commence until the
181st day following the Executive’s termination date.

     6. Change in Control. A “Change in Control” shall be deemed to have occurred
if in the context of a single event or series of related events, more than 50% of the voting power
of the Corporation’s outstanding securities shall be acquired by any person (as such term is used
in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended) other than the
shareholders of the Corporation as of August 1, 2006. If a Change in Control and any Change in
Control Qualifying Event (as defined below) shall occur, the Executive shall be permitted to
terminate her employment within sixty (60) days of such Change in Control Qualifying Event (to the
extent that such Change in Control Qualifying Event is not the termination of this Agreement by the
Corporation as provided below). For purposes hereof, a “Change in Control Qualifying
Event” shall include the occurrence of any of the following within one hundred eighty (180)
days following the occurrence of the Change in Control: (i) a termination of this Agreement by the
Corporation other than for Cause, (ii) a significant diminution, without mutual agreement of the
parties, in the nature and scope of the Executive’s authority, power, functions or duties, (iii)
the Corporation assigns to the Executive, without mutual agreement of the parties, substantial
additional duties or responsibilities which are inconsistent with the duties of the Executive under
this Agreement, or (iv) the Corporation’s requirement, without the Executive’s prior written
consent, that the

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Executive perform the duties required of her under this Agreement at a home office location
other than the greater Houston, Texas metropolitan area. Upon the occurrence of a Change of
Control or a Change of Control Qualifying Event, all unvested stock options held by the Executive
shall automatically vest on the effective date of the Change of Control, regardless of whether the
Executive terminates her employment with the Corporation.

     7. Successors and Assignment. This Agreement shall be binding on, and inure to the
benefit of the Corporation and its successors and assigns and any person acquiring, whether by
merger, consolidation, purchase of all or substantially all of the Corporation’s assets and
business, or otherwise without further action by the Executive; provided however, that Executive
hereby agrees to execute an acknowledgement of assignment if requested to do so by the successor,
assign or acquiring person. The Corporation may assign this agreement to any of its direct and
indirect subsidiaries.

     8. Nonalienation. The interests of the Executive under this Agreement are not subject
to the claims of his or her creditors, other than the Corporation, and may not otherwise be
voluntarily or involuntarily assigned, alienated or encumbered except to the Executive’s estate
upon his or her death.

     9. Waiver of Breach. The waiver by either the Corporation or the Executive of a
breach of any provision of this Agreement shall not operate as, or be deemed a waiver of, any
subsequent breach by either the Corporation or the Executive.

     10. Notice. Any notice to be given hereunder by a party hereto shall be in writing
and shall be deemed to have been given when received or, when deposited in the U.S. mail, certified
or registered mail, postage prepaid:

	 	(a)	 	to the Executive addressed as follows:

Ms. Carol Pearson

5 Robin Trail

Conroe, Texas

Tel: 281-782-8735

	 	(b)	 	to the Corporation addressed as follows:

Synthesis Energy Holdings, Inc.

6330 West Loop South, Suite 300

Houston, Texas 77401

Attn: Timothy E. Vail

Tel: (713) 898 - 0444

     11. Amendment. This Agreement may be amended or canceled by mutual agreement of the
parties in writing without the consent of any other person and no person, other than the parties
hereto (and the Executive’s estate upon her death), shall have any

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rights under or interest in this Agreement or the subject matter hereof. The parties hereby
agree that no oral conversations shall be deemed to be a modification of this Agreement and neither
party shall assert the same.

     12. Applicable Law; Jurisdiction. The provisions of this Agreement shall be construed
in accordance with the internal laws of the State of Delaware. Harris County district courts shall
have jurisdiction with regard to all matters relating to the interpretation and enforcement of this
Agreement.

     13. WAIVER OF JURY TRIAL AND COSTS. THE EXECUTIVE AND THE CORPORATION EXPRESSLY WAIVE
ANY RIGHT EITHER MAY HAVE TO A JURY TRIAL CONCERNING ANY CIVIL ACTION THAT MAY ARISE FROM THIS
AGREEMENT, OR THE RELATIONSHIP OF THE PARTIES HERETO AND THE PREVAILING PARTY IN SUCH ACTION SHALL
BE ENTITLED TO RECOVER ITS ATTORNEYS’ FEES AND COSTS INCURRED TO ENFORCE ANY OF ITS RIGHTS
HEREUNDER; PROVIDED, HOWEVER, THAT A PARTY SHALL NOT BE DEEMED A PREVAILING PARTY IN THE EVENT A
TEMPORARY RESTRAINING ORDER OR A TEMPORARY INJUNCTION IS ISSUED IN FAVOR OF SUCH PARTY.

     14. Termination. All of the provisions of this Agreement shall terminate after the
expiration of the Employment Period, except that paragraph 4(a) shall survive for five (5) years
after the expiration of this Agreement and paragraph 4(b) shall terminate upon the expiration of
the Non-Competition Period.

     15. Publicity. Except as required by law, until the Commencement Date, neither the
Corporation nor the Executive shall issue any press release or make any public statement regarding
this Agreement.

*          *          *

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     IN WITNESS WHEREOF, the Executive and the Corporation have executed this Employment Agreement
as of the day and year first above written.

	 	 	 	 	 
	 	 	 
	 	                                              /s/ Carol Pearson
 	 
	 	CAROL PEARSON 	 
	 	 	 
	 
	 	SYNTHESIS ENERGY SYSTEMS, INC.

 	 
	 	/s/ David A. Eichinger
 	 
	 	David A. Eichinger 	 
	 	Chief Financial Officer 	 
	 

10exv10w1

 

EXHIBIT 10.1

INDEMNIFICATION AGREEMENT

     THIS INDEMNIFICATION AGREEMENT (the “Agreement”) is made as of this
                    day
of         
           , 200  
    , by and between UCBH Holdings, Inc., a Delaware corporation (the
“Corporation”), and      
           
          
           
          
           
  , an individual (“Indemnitee”).

RECITALS

     A. The Corporation and Indemnitee recognize that unforeseen litigation may subject directors,
officers and agents to costs and expenses.

     B. The Corporation desires to attract and retain the services of highly qualified individuals,
such as Indemnitee, to serve as directors, officers and agents of the Corporation and to indemnify
its directors, officers and agents so as to provide them with the maximum protection permitted by
law.

     In consideration of the Recitals set forth above and the mutual covenants and agreements set
forth below, the Corporation and Indemnitee do hereby agree as follows:

AGREEMENT

     1. Indemnification and Expense Advancement.

          (a) Proceedings Other than by Right of the Corporation. The Corporation shall
indemnify Indemnitee if 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 Corporation to procure a judgment in its
favor) by reason of the fact that Indemnitee is or was an Agent (as defined in Section 1(i) below)
of the Corporation, against costs, expenses, judgments, fines, settlements and other amounts
actually and reasonably incurred in connection with such proceeding if Indemnitee acted in good
faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests
of the Corporation and, in the case of a criminal proceeding, has no reasonable cause to believe
the conduct of Indemnitee was unlawful. The termination of any proceeding by judgment, order,
settlement, conviction or upon a plea of nolo contendere or its equivalent shall not, of itself,
create a presumption that Indemnitee did not act in good faith and in a manner which Indemnitee
reasonably believed to be in the best interests of the Corporation or that Indemnitee had
reasonable cause to believe that Indemnitee’s conduct was unlawful.

          (b) Proceedings By or in the Right of the Corporation. The Corporation shall
indemnify Indemnitee if Indemnitee was or is a party or is threatened to be made a party to any
threatened, pending or completed action by or in the right of the Corporation to procure a judgment
in its favor by reason of the fact that Indemnitee is or was an Agent of the Corporation, against
expenses actually and reasonably incurred by Indemnitee in connection with the defense

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or settlement of such action if Indemnitee acted in good faith, in a manner Indemnitee believed to
be in or not opposed to the best interests of the Corporation and its stockholders; except that no
indemnification shall be made under this Section 1(b) for any of the following:

               (i) In respect of any claim, issue or matter as to which Indemnitee shall have been adjudged
to be liable to the Corporation in the performance of Indemnitee’s duty to the Corporation and its
stockholders, unless and only to the extent that the court in which such proceeding is or was
pending or the Delaware Court of Chancery shall determine upon application that, in view of all the
circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnity for the
expenses which such court shall determine;

               (ii) Of amounts paid in settling or otherwise disposing of a pending action without court
approval; or

               (iii) Of expenses incurred in defending a pending action which is settled or otherwise
disposed of without court approval.

          (c) Determination of Right of Indemnification. Any indemnification under Sections
1(a) and (b) shall be made by the Corporation only if authorized in the specific case, upon a
determination that indemnification of Indemnitee is proper in the circumstances because Indemnitee
has met the applicable standard of conduct set forth above in Sections 1(a) and (b) by any of the
following:

               (i) A majority vote of a quorum of the Corporation’s board of directors consisting of
directors who are not parties to such proceeding; or

               (ii ) If such a quorum of directors is not obtainable, by independent legal counsel in a
written opinion; or

               (iii) Approval of the stockholders by the affirmative vote of a majority of the shares
entitled to vote represented at a duly held meeting at which a quorum is present or by the written
consent of stockholders as provided in the Bylaws, with the shares owned by the person to be
indemnified not being entitled to vote thereon; or

               (iv) By the court in which such proceeding is or was pending upon application made by the
Corporation or its Agent or attorney or other person rendering services in connection with the
defense, whether or not such application by the Agent, attorney or other person is opposed by the
Corporation.

          (d) Advances of Expenses. Expenses (including reasonable attorneys’ and experts’
fees), costs, and charges incurred in defending any proceeding shall be advanced promptly by the
Corporation prior to the final disposition of such proceeding upon receipt of a written undertaking
by or on behalf of Indemnitee to repay such amount unless it shall be determined ultimately that
Indemnitee is entitled to be indemnified as authorized in this Section 1. The form of such
undertaking shall be substantially similar to Exhibit A hereto.

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          (e) Indemnification Against Expenses of Successful Party. Notwithstanding the other
provisions of this Section 1, to the extent that Indemnitee has been successful on the merits in a
defense of any proceeding, claim, issue or matter referred to in Sections 1(a) and (b), Indemnitee
shall be indemnified against all expenses actually and reasonably incurred by Indemnitee in
connection therewith.

          (f) Right of Indemnitee to Indemnification Upon Application; Procedure Upon
Application. Any indemnification provided for in Sections 1(a), (b) or (e) shall be made no
later than ninety (90) days after the Corporation is given notice of request by Indemnitee,
provided that any indemnification under Sections 1(a) and (b) is authorized pursuant to Section
1(c). Any such request for indemnification must be made within ninety (90) days of the final
adjudication, dismissal, or settlement of the matter for which Indemnitee seeks indemnification,
unless an appeal is filed, in which case the request may be made within ninety (90) days after the
appeal is resolved (hereafter referred to as “Final Disposition”). Upon such notice, if a quorum
of directors who were not parties to the action, suit, or proceeding giving rise to indemnification
is obtainable, the Corporation shall within two (2) weeks call a Board of Directors meeting to be
held within four (4) weeks of such notice, to make a determination as to whether Indemnitee has met
the applicable standard of conduct. Otherwise, if a quorum consisting of directors who were not
parties in the relevant action, suit, or proceeding is not obtainable, the Corporation shall retain
(at the Corporation’s expense) independent legal counsel chosen either jointly by the Corporation
and Indemnitee or else by the Corporation’s counsel within two (2) weeks to make such
determination.

               If notice of a request for payment of a claim under any statute, under this Agreement, or
under the Corporation’s Certificate of Incorporation or Bylaws providing for indemnification or
advance of expenses has been given to the Corporation by Indemnitee, and such claim is not paid in
full by the Corporation within ninety (90) days of the later occurring of the giving of such notice
and Final Disposition in case of indemnification and ten (10) days of the giving of such notice in
case of advance of expenses, Indemnitee may, but need not, at any time thereafter bring an action
against the Corporation to receive the unpaid amount of the claim or the expense advance and, if
successful, Indemnitee shall also be paid for the expenses (including reasonable attorneys’ and
experts’ fees) of bringing such action. It shall be a defense to any such action (other than an
action brought to enforce a claim for expenses incurred in connection with any action, suit, or
proceeding in advance of its Final Disposition) that Indemnitee has not met the standards of
conduct which make it permissible under applicable law for the Corporation to indemnify Indemnitee
for the amount claimed, and Indemnitee shall be entitled to receive interim payment of expenses
pursuant to Section 1(d) unless and until such defense may be finally adjudicated by court order or
judgment from which no further right of appeal exists. Neither the failure of the Corporation
(including its Board of Directors, independent legal counsel, or its stockholders) to have made a
determination that indemnification of Indemnitee is proper in the circumstances because Indemnitee
has met the applicable standard of conduct required by applicable law, nor an actual determination
by the Corporation (including its Board of Directors or independent legal counsel) that Indemnitee
has not met such applicable standard of conduct, shall create a presumption that Indemnitee has or
has not met the applicable standard of conduct.

3

 

          (g) Insurance. The Corporation may purchase and maintain insurance on behalf of any
person who is or was an Agent against any liability asserted against such person and incurred by
him or her in any such capacity, or arising out of his or her status as such, whether or not the
Corporation would have the power to indemnify such person against such liability under the
provisions of this Section 1.

          (h) Optional Means of Assuring Payment. Upon request by an Indemnitee certifying that
Indemnitee has reasonable grounds to believe Indemnitee may be made a party to a proceeding for
which Indemnitee may be entitled to be indemnified under this Section 1, the Corporation may, but
is not required to, create a trust fund, grant a security interest or use other means (including,
without limitation, a letter of credit) to ensure the payment of such sums as may become necessary
to effect indemnification as provided herein.

          (i) Definition of Agent. For the purposes of this Agreement, “Agent” means any person
who is or was a director, officer, employee or other agent of the Corporation, or is or was serving
at the request of the Corporation as a director, officer, employee or agent of another foreign or
domestic corporation, partnership, joint venture, trust or other enterprise, or was a director,
officer, employee or agent of a foreign or domestic corporation which was a predecessor corporation
of the corporation or of another enterprise at the request of such predecessor corporation;
“proceeding” means any threatened, pending or completed action or proceeding, whether civil,
criminal, administrative or investigative; and “expenses” includes without limitation reasonable
attorneys’ and experts’ fees and any expenses of establishing a right to indemnification.

          (j) Indemnification under Section 145 of the Delaware General Corporation Law.
Subject to the provisions of Delaware Corporation Law Section 145 and any other applicable law,
notwithstanding any other provisions of this Section 1, the following shall apply to the
indemnification of Indemnitee:

               (i) There shall be a presumption that Indemnitee met the applicable standard of conduct
required to be met in Section 1(c) for indemnification, rebuttable by clear and convincing evidence
to the contrary;

               (ii) The Corporation shall have the burden of proving that Indemnitee did not meet the
applicable standard of conduct in Section 1(c);

               (iii) In addition to the methods provided for in Section 1(c), a determination that
indemnification is proper in the circumstances because that Indemnitee met the applicable standard
of conduct may also be made by the arbitrator in any arbitration proceeding in which such matter is
or was pending; and

               (iv) Unless otherwise agreed to in writing between an Indemnitee and the Corporation in any
specific case, indemnification may be made under Section 1(b) for amounts paid in settling or
otherwise disposing of a pending action without court approval.

4

 

     2. Changes.

          In the event of any change, after the date of this Agreement, in any applicable law, statute,
or rule which expands the right of a Delaware corporation to indemnify a member of its board of
directors, its officers or its Agents, such changes shall automatically expand, without further
action of the parties, Indemnitee’s rights and the Corporation’s obligations under this Agreement.
In the event of any change in any applicable law, statute or rule which narrows a Delaware
corporation’s right to indemnify a member of its board of directors, its officers or its Agents,
such changes, to the extent not otherwise required by such law, statute or rule to be applied to
this Agreement, shall have no effect on this Agreement or the parties’ rights and obligations
hereunder. In the event of an amendment to the Corporation’s Bylaws which expands the right to
indemnify a member of its board of directors, its officers or its Agents, such change shall
automatically expand, without further action of the parties, Indemnitee’s rights and the
Corporation’s obligations under this Agreement. In the event of any amendment to the Corporation’s
Bylaws which narrows such right of a Delaware corporation to indemnify a member of its board of
directors, its officers or its Agents, such change shall only apply to the indemnification of
Indemnitee for acts committed, or lack of action, by Indemnitee after such amendment. The
Corporation agrees to give Indemnitee prompt written notice of amendments to the Corporation’s
Bylaws which concern indemnification.

     3. Nonexclusivity.

          The indemnification provided by this Agreement shall not be deemed exclusive of any rights to
which Indemnitee may be entitled under the Corporation’s Certificate of Incorporation, its Bylaws,
any agreement, any vote of stockholders or disinterested Directors, the Delaware General
Corporation Law, or otherwise, both as to action in Indemnitee’s official capacity and as to action
in any other capacity while holding such office (an “Indemnified Capacity”). The indemnification
provided under this Agreement shall continue as to Indemnitee for any action taken or not taken
while serving in an Indemnified Capacity even though such Indemnitee may have ceased to serve in an
Indemnified Capacity at the time of any action, suit or other covered proceeding, and shall inure
to the benefit of the heirs, executors, and administrators of Indemnitee.

     4. Partial Indemnification.

          If Indemnitee is entitled under any provision of this Agreement to indemnification by the
Corporation for some or a portion of the expenses, judgment, fines or penalties actually or
reasonably incurred by Indemnitee in the investigation, defense, appeal or settlement of any civil
or criminal action, suit or proceeding, but not, however, for the total amount thereof, the
Corporation shall nevertheless indemnify Indemnitee for the portion of such expenses, judgments,
fines or penalties to which Indemnitee is entitled pursuant to this Agreement.

     5. Potential Limitations.

          Both the Corporation and Indemnitee acknowledge that in certain instances, Delaware state law
and federal banking laws and regulations, federal law or public policy may

5

 

override applicable state law and prohibit the Corporation from indemnifying its directors and
officers under this Agreement or otherwise. For example, the Corporation and Indemnitee
acknowledge that the federal regulators have taken the position that indemnification is not
permissible for liabilities arising under certain federal securities laws, and federal legislation
prohibits indemnification for certain ERISA violations. Indemnitee understands and acknowledges
that the Corporation has undertaken or may be required in the future to undertake with federal
regulators to submit questions of indemnification to a court in certain circumstances for a
determination of the Corporation’s right under public policy to indemnify Indemnitee. Furthermore,
Indemnitee and Corporation acknowledge that the extent of (i) indemnification permissible under
Section 145 of the Delaware General Corporation Law has not been judicially determined; therefore,
the enforceability of Indemnitee’s rights under Section 1(l) is uncertain; and (ii) advancement of
expenses and indemnification of Indemnitee in the event of a proceeding or action described in
Section 7(a) below, is also uncertain and may not be permissible or may be subject to applicable
regulatory restrictions.

     6. Severability.

          Nothing in this Agreement is intended to require or shall be construed as requiring the
Corporation to do or fail to do any act in violation of applicable law. The Corporation’s
inability, pursuant to court order, to perform its obligations under this Agreement shall not
constitute a breach of the Agreement. If the application of any provision or provisions of the
Agreement to any particular facts or circumstances shall be held to be invalid or unenforceable by
any court of competent jurisdiction, then (i) the validity and enforceability of such provision or
provisions as applied to any other particular facts or circumstances and the validity of other
provisions of this Agreement shall not in any way be affected or impaired thereby and (ii) such
provision(s) shall be reformed without further action by the parties to make such provision(s)
valid and enforceable when applied to such facts and circumstances with a view toward requiring the
Corporation to indemnify Indemnitee to the fullest extent permissible by law.

     7. Exceptions.

          Notwithstanding any other provision herein to the contrary, the Corporation shall not be
obligated pursuant to the terms of this Agreement:

          (a) Regulatory Agency Proceedings. To indemnify Indemnitee for expenses, penalties or
other payments incurred in an administrative proceeding or action threatened or instituted by a
bank regulatory agency, which proceeding or action results in a final order imposing, injunctive or
similar relief or assessing civil money penalties or in any other resolution requiring or
preventing action by the Indemnitee; or

          (b) Claims Initiated by Indemnitee. To indemnify or advance expenses to Indemnitee
with respect to proceedings or claims (except counter-claims or cross-claims) initiated or brought
voluntarily by Indemnitee and not by way of defense, 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 by the Delaware General Corporation Law, but such indemnification or advancement of expenses may be provided by the Corporation in specific
cases if the Board of Directors finds it to be appropriate; or

6

 

          (c) Lack of Good Faith. To indemnify Indemnitee for any expenses incurred by
Indemnitee with respect to any proceeding instituted by Indemnitee to enforce or interpret this
Agreement, if a majority of the Corporation’s directors or a court of competent jurisdiction
determines that the material assertions made by Indemnitee in such proceeding were not made in good
faith or was frivolous; or

          (d) Insured Claims. To indemnify Indemnitee for expenses or liabilities of any type
whatsoever (including, but not limited to, judgments, fines, ERISA excise taxes or penalties, and
amounts paid in settlement) which have been paid directly to Indemnitee by an insurance carrier
under a policy of officers’ and directors’ liability or other insurance maintained by the
Corporation; or

          (e) Claims under Section 16(b). To indemnify Indemnitee for expenses or the payment
of profits arising from the purchase and sale by Indemnitee of securities in violation of Section
16(b) of the Securities Exchange Act of 1934, as amended, or any similar successor statute.

     8. Counterparts.

          This Agreement may be executed in one or more counterparts, each of which shall constitute an
original.

     9. Successors and Assigns.

          This Agreement shall be binding upon the Corporation and its successors and assigns, and shall
inure to the benefit of Indemnitee and Indemnitee’s estate, heirs, and legal representatives and
permitted assigns. Indemnitee may not assign this Agreement without the prior written consent of
the Corporation.

     10. Attorneys’ Fees.

          In the event that any action is instituted by Indemnitee under this Agreement to enforce or
interpret any of the terms hereof, Indemnitee shall be entitled to be paid all court costs and
expenses, including reasonable attorneys’ and experts’ fees, incurred by Indemnitee with respect to
such action, unless as a part of such action, the court of competent jurisdiction determines that
each of the material assertions made by Indemnitee as a basis for such action were not made in good
faith or were frivolous. In the event of an action instituted by or in the name of the Corporation
under this Agreement or to enforce or interpret any of the terms of this Agreement, Indemnitee
shall be entitled to be paid all court costs and expenses, including attorneys’ fees, incurred by
Indemnitee in defense of such action (including with respect to Indemnitee’s counterclaims and
cross-claims made in such action), unless as a part of such action the court determines that each
of Indemnitee’s material defenses to such action were made in bad faith or were frivolous.

7

 

     11. 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 signed for by the party
addressee, on the date of such receipt, or (ii) if mailed by certified or registered mail with
postage prepaid, on the third business day after the date postmarked. Addresses for notice to
either party are as shown on the signature page of this Agreement, or as subsequently modified by
written notice.

     12. Section Headings.

          The Section headings in this Agreement are solely for convenience and shall not be considered
in its interpretation.

     13. Waiver.

          A waiver by either party of any term or condition of the Agreement or any breach thereof, in
any one instance, shall not be deemed or construed to be a waiver of such term or condition or of
any subsequent breach thereof.

     14. Entire Agreement; Amendment.

          This instrument contains the entire integrated Agreement between the parties hereto and
supersedes all prior negotiations, representations or agreements, whether written or oral except
for the Corporation’s Certificate of Incorporation and Bylaws. It may be amended only by a written
instrument signed by a duly authorized officer of Corporation and by Indemnitee.

     15. Choice of Law.

          Except for that body of law governing choice of law, this Agreement shall be governed by, and
construed in accordance with, substantive laws of the State of Delaware which govern transactions
between Delaware residents.

     16. Mediation/Arbitration.

          (a) All disputes, claims or controversies arising out of or relating to this Agreement
(collectively, “Disputes”) shall be submitted to non-binding mediation by either party to an
impartial mediator, as agreed to by the parties, and appointed through JAMS in San Francisco,
California, for a good faith effort at resolution. The mediator shall review the Dispute within
thirty (30) days of submission or at such other time provided the parties so agree. Any mediation
fee shall be paid equally among the parties. Any Dispute which is not resolved through such
mandatory mediation shall be settled by final and binding arbitration before a single neutral
arbitrator of JAMS in accordance with the then current Commercial Arbitration Rules of the American
Arbitration Association in San Francisco, California. Judgment on the award rendered by the
arbitrator may be entered in any court in California. In the event that any

8

 

Dispute between Indemnitee and the Corporation should result in arbitration, the prevailing
party in the Dispute shall be entitled to recover from the other party all reasonable fees, costs
and expenses of enforcing any right of the prevailing party, including, without limitation,
reasonable attorneys’ fees, experts’ fees, and expenses. Each party agrees that the Dispute as
mediated and/or arbitrated and the final resolution of such Dispute shall be considered to be
confidential information, and shall be kept confidential by each party.

          (b) Indemnitee specifically acknowledges and understands that by agreeing to this provision,
Indemnitee is waiving all rights to have his or her claims brought, investigated, and/or
adjudicated by an administrative agency, or heard before a judge or jury. Indemnitee also
understands that Indemnitee’s rights to discovery may be lesser or narrower in arbitration, that
there may be fees and costs associated with mediation and/or arbitration that Indemnitee may not
otherwise have, and that Indemnitee is waiving substantial time that Indemnitee might otherwise
have to make a claim, prepare his or her case, or investigate his or her claims. The claims
include claims of any kind relating to Indemnitee’s relationship with the Corporation, including
claims relating to compensation, discrimination, any benefits, status as an officer, director or
Agent of the Corporation, conflict of interest, or any other claim or dispute relating to or
arising out of Indemnitee’s relationship with the Corporation. The underlying Disputes shall be
fully and finally resolved through arbitration, including any right to permanent injunctive relief.

     17. Consideration.

          Part of the consideration the Corporation is receiving from Indemnitee to enter into this
Agreement is Indemnitee’s agreement to serve or to continue to serve, as applicable, for the
present as an officer, director or Agent of the Corporation. Nothing in this Agreement shall
preclude Indemnitee from resigning as an officer, director or Agent of the Corporation nor the
Corporation, by action of its stockholders, board of directors, or officers, as the case may be,
from terminating Indemnitee’s services as an officer, director or Agent, as the case may be, with
or without cause.

[Remainder of page intentionally blank]

9

 

          IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first above
written.

	 	 	 	 	 
	INDEMNITEE:	 	UCBH HOLDINGS, INC.
	 
	 	 	 	 
	 
	 	 	 	 
	 

	 	By	 	 
	 

	 	 	 	 
	Signature
	 	 	 	 
	 
	 	 	 	 
	 	 	 
	 	 	Printed Name and Title
	 

Printed Name

	 	 	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	 	 	 
	(address)	 	(address)

10

 

EXHIBIT A

UNDERTAKING TO REPAY ADVANCEMENT

OF EXPENSES

     A. Indemnitee is or has been a director, officer, employee or other agent of UCBH HOLDINGS,
INC., a Delaware corporation (the “Corporation”); and

     B. On account of such fact, Indemnitee was or is or is threatened to be made a party to the
proceeding described and designated hereinafter (the “Proceeding”); and

     C. Indemnitee has requested that the Corporation advance to Indemnitee, prior to final
disposition of the Proceeding, Indemnitee’s costs and expenses incurred in defense of the
Proceeding; and

     D. As a condition to advancement of such expenses, the Corporation has required that the
present undertaking be made by or on behalf of Indemnitee.

The undersigned herein undertakes as follows:

(1) This undertaking is executed in accordance with and is subject to Section 145 of the Delaware
General Corporation Law, and that certain Indemnification Agreement between Indemnitee and the
Corporation dated                     , and is subject to all provisions, including definitions of terms,
thereof.

(2) Indemnitee was or is or is threatened to be made a party to the following proceeding:

	 	 	 	 	 	 	 
	 

	 	Name of Claimant or Title	 	 	 	 
	 

	 	of Action or Proceeding:	 	 	 	 
	 

	 	 	 	 

	 	 

1

 

	 	 	 	 	 	 	 
	 

	 	Court or Agency	 	 	 	 
	 

	 	(if any):	 	 	 	 
	 

	 	 	 	 

	 	 

	 	 	 	 	 	 	 
	 

	 	Date Filed Or Presented:	 	 	 	 
	 

	 	 	 	 

	 	 

	 	 	 	 	 	 	 
	 

	 	Status:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 

	 	 

	 	 	 	 	 	 	 
	 

	 	Indemnitee’s Counsel:	 	 	 	 
	 

	 	 	 	 

	 	 

	 	 	 	 	 
	 

	 	Nature and Amount	 	 

	 	 	 	 	 	 	 
	 

	 	of Claim:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 

	 	 

(3) In consideration of the advancement by the Corporation of Indemnitee’s expenses incurred or to
be incurred in defense of the Proceeding, the undersigned hereby undertakes to repay all amounts
advanced by the Corporation on account of Indemnitee’s defense of the Proceeding, unless it shall
be determined ultimately that Indemnitee is entitled to be indemnified with respect to the
Proceeding in accordance with Section 145 of the Delaware General Corporation Law.

	 	 	 	 	 	 	 
	Date:
	 	 	 	 	 	 
	 

	 	 
	 	 	 	 
	 

	 	 	 	 	 	(Signature of Indemnitee)
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	(Printed Name of Indemnitee)

2

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