Document:

exhibit1027

                                                                                                               Exhibit 10.27                                                                                                                Australia     1096 Toorak Road   Hartwell, Victoria 3124    Dear David:    We have the pleasure to confirm with you the terms and the conditions of your employment with the Company:                                                             EMPLOYEE DATA SHEET      Employer:  Pacific Brands Ltd or its successor (the “Company”)    Employee: David Bortolussi of 24 Kent Road, Surrey Hills, Victoria 3127 (the "Employee")    Employment Commencement Date:  9 June 2009    Probation Period:      Not Applicable                                                                                                        If temporary, expiration date:    Position:  President and Managing Director, Hanes Australasia (the               Temporary                                                                    Permanent         ☒    "Position")                                                                      ☐                                                                                                                  [Insert date]     Normal Place of Work (for information purposes):   1096 Toorak Road, Hartwell, Victoria 3124 (see also Special Terms, Clause 8 - Mobility)     Notice period:  Six months’ prior written notice of termination to be given by either party (see also Special Terms, Clause 14 – Termination with Notice).  In    2017 and 2018 only, pay during any notice period associated with voluntary or involuntary termination, or any pay in lieu of such notice, will include the    monthly Cash Transition Payment.    Holidays/Leave Entitlement: You are entitled to all public holidays that are proclaimed in the location of your employment and all other leave (paid and    unpaid) in accordance with applicable minimum legislative standards, including at least 4 weeks’ paid vacation.       Base Gross Annual Salary:    Effective 1 January 2017, your base gross annual salary is AUD $800,000.      Variable and Discretionary Remuneration:         •    Annual Incentive Plan: effective 1 January 2017, any annual incentive will be paid at the discretion of the Company and will be governed by the terms             of the Hanesbrands Inc. Annual Incentive Plan (as amended at Hanesbrands Inc.'s discretion and restated by it from time-to-time).  Your Target Award             Opportunity (as defined by the Plan) and maximum award opportunity are currently 65% and 130% respectively of Base Gross Annual Salary.       •    Omnibus Incentive Plan: any equity grants will be awarded at the discretion of the Company and will be governed by the terms of the Hanesbrands            Inc. Omnibus Incentive Plan (as amended at Hanesbrands Inc.'s discretion and restated by it from time-to-time) and related equity grant notices.  In             December 2016, you will be granted a one-time Transition Equity Award in the form of Restricted Stock Units (RSUs) in the amount of AUD$1,000,000             to vest 33%, 33% and 34% on the first, second and third anniversaries of the grant date.   Special Conditions:         •    Cash Transition Payment - Upon execution of this Agreement, and in consideration of entry into this Agreement, you will receive a cash transition            payment of AUD $330,000 in each of 2017 and 2018, provided you remain actively employed by the Company and have not given notice of voluntary            termination at the time payment is due to you.   Payment for each year will be distributed in equal installments on a monthly basis.  In the event of            voluntary termination, the monthly instalment of the Cash Transition Payment will only be paid during the notice period.       •    Superannuation Contribution – AUD $25,000 annually  (see also Special Terms, Clause 6)        •    Total Direct Compensation (TDC) at Target – provided you remain actively employed by the Company and are not under voluntary or involuntary            notice of termination of employment, the value of your TDC at Target in 2017, 2018 and 2019 shall be no less than AUD $2,070,000.        •    Severance Payment – In the event of involuntary termination with notice for reasons other than specified in Special Terms, Clause 15 - Summary             Termination, and subject to Clause 14 - Termination of Notice, the Company will pay you AUD $600,000 (AUD$765,000 if the termination occurs in            2017 or 2018) (payable in equal instalments over a six-month period in the same manner and at the same time as your base salary payments would             have been paid had your employment not been terminated), provided you (a) execute a deed containing full releases of all claims against the Company             and its related  bodies corporate (the terms of which will be determined by the Company at its discretion, but acting reasonably) and (b) abide by any             post-termination conditions or restrictions set forth in this Agreement.  This severance payment will be paid in addition to any accrued and untaken            annual and long service leave entitlements and any amount of pay in lieu of notice.  If the Company terminates your employment by reason of             redundancy, this severance payment will be paid in satisfaction of any entitlement to severance/redundancy pay under applicable legislation and/or            any Company or Hanesbrands Group policy, arrangement, or practice.    Non-Competition/Non-Solicitation:     See Special Terms, Clause 11     Normal Working Hours:   38 hours per week, on a full-time basis.        Company Car or Car Allowance:    Annual car allowance = AUD $45,000  (to be included in income amounts for    purposes of calculating the Company’s superannuation contribution to Employee)                ☒     N/A             ☐  .14   1 of 10 pages 

 

                                                                                                                                                                                                           Australia                                               GENERAL TERMS AND CONDITIONS OF EMPLOYMENT      Clause 1.    Recitals      In this Contract, words in the masculine gender shall include the feminine gender.      Clause 2.    Employment Relationship      The relationship between the Company and the Employee is governed by this Contract (including the Employee Data Sheet, the     General Terms and Conditions of Employment and the Special Terms and Conditions of Employment).      Copies of the Company's and the Hanesbrands Group's policies (together "the Hanesbrands Group Policies) applicable to the     Employee are, or will be made, available to the Employee on the Company's intranet site. The terms of the Hanesbrands Group     Policies to the extent they require the Employee to do anything constitute lawful and reasonable directions from the Company, with     which the Employee is required to comply.  The terms of the Hanesbrands Group Policies will not form part of this Contract and the     Company and/or Hanesbrands Inc. may vary the terms of any of these policies at their discretion from time to time.       There are no collective agreements or awards in force in respect of this employment.      Clause 3.    Duties      The Company may require the Employee to perform any duties and work commensurate with his role, education, professional     expertise and skills and such other duties as may be reasonably assigned to him from time to time.       Unless otherwise replaced or varied by written agreement between the Company and the Employee, the terms of this Contract     will apply to the Employee's employment with respect to all future positions and duties performed by the Employee.      The Employee commits to use all necessary care and diligence to accomplish his duties and shall obey the reasonable directions     of the Company.      Clause 4.    Professional Expenses      The Company shall reimburse the Employee, against documented proof/receipts, for reasonable professional expenses that he     incurs in connection with his work in accordance with the applicable expense policies.       Clause 5.    Confidentiality Obligations      The Employee agrees that he is prohibited from disclosing to third parties and, except as is necessary to carry out his duties,     other employees of the Hanesbrands Group (regardless of whether they have individual access to the same information in their     own positions) all non-publicly available information, knowledge and techniques relating to the activities of the Company (and     the Hanesbrands Group and/or its customers) that he may have access to as a result of exercising his duties.       Under this clause, information considered to be confidential includes (but is not limited to) non-publicly available information     about the Company’s inventions, products, processes, methods, techniques, formulae, compositions, projects, developments,     plans, research data, financial data, personal data, computer programs, customer and supplier lists and contracts, including non-    publicly  available information  relating  to customers  or potential  customers  of  the  Company  and information  related  to the     Hanesbrands Group. The same provisions also apply to computers and information that may be stored or processed by them.      The Employee also agrees not to disclose the terms of this Contract and, in particular, its remuneration terms other than to his     spouse, domestic partner, legal counsel, or tax or financial advisor, or if legally required.      The Employee acknowledges that any breach of the confidentiality obligation referred to herein constitutes gross misconduct.     In addition, any breach of this confidentiality clause may result in the Company bringing proceedings against the Employee to     obtain compensation for any loss suffered and to obtain an order that disclosure of the confidential information must cease.      These provisions shall remain in effect after termination of this Contract.        .14                                                                                                         2 of 10 pages 

 

                                                                                                                                                                                                           Australia                 Clause 6.    Obligation of Restitution      The  Employee  agrees to preserve,  in accordance with  the Hanesbrands Group’s document retention  policy, any  technical,     commercial, or financial document, note, file, study, software and, more generally, any file the Employee may hold that belongs     to the Hanesbrands Group companies.     On termination of employment, or at any time upon the Company’s specific request, the Employee must immediately return all     Company documents and equipment in his possession. The Company may, as required, demand a written confirmation that the     Employee has met this obligation.      Clause 7.    Personal Situation      The  Employee  agrees  to  inform  the  Company  of  any  change  in  his  personal  information  to  the  extent  relevant  for  the     employment relationship, as reported at the time of his employment, including but not limited to any change of address or any     other matter relevant to the Employee's ability to lawfully perform the duties of the Position.      If the Employee requires immigration permission to work in the assigned country, he warrants and undertakes that he is entitled     to work in the assigned country and that he will:          (a)     On request, provide the Company with such documentary evidence on or around 1 January of each year and as it                  requires from time to time, to prove that the Employee has immigration permission to work for the Company in                  the role set out in this Agreement and in order for it to check his immigration status.             (b)     Notify the Company immediately of any change to his immigration status.             (c)     Keep  the  Company  notified  of  any  changes  to  his  home  address  and  phone  number  (including  mobile  phone                  number, if you have one). For these purposes, the Employee should be aware that the Company needs to maintain                  a history of his contact details, not just his current details.                (d)     Notify the Company of any change in circumstances which may affect his right to work for the Company or to live                  in the assigned country.      Clause 8.    Effective Date & Entire Agreement      This  Contract is  effective  as  of  the  date  of the  parties’ signatures and  supersedes  and  replaces  any  previous  letters  of     appointment, agreements, or arrangements, whether written, oral, or implied, relating to the Employee’s employment with the     Company or any related entity or any predecessor employer.                                                   .14                                                                                                         3 of 10 pages 

 

                                                                                                                                                                                                           Australia                                               SPECIAL TERMS & CONDITIONS OF EMPLOYMENT – AUSTRALIA      Clause 1.    Commencement & Probation Period     The Company will recognise the Employee's past service with the Company from the date stated in the Employee Data Sheet for     the purposes of calculating any service related entitlements.         Where  applicable,  during  the probation period identified  in  the  Summary  Terms  and  Conditions (if  any), either  Party  may     terminate this Contract at any time by giving one week's prior written notice.      Clause 2.    Working Time                       The Employee will devote his full time and attention to his duties.  The Employee’s normal working hours are as stated in the     Employee Data Sheet. The requirements of the Position call for some flexibility and the Employee may therefore be required to     work reasonable additional hours from time to time, without additional pay or time off in lieu.     The Employee acknowledges that his base salary and remuneration have been calculated to compensate him for any reasonable     additional hours that he is required to work to fulfil the duties of the Position.      Clause 3.     Salary     The Employee's salary, as stated in the Employee Data Sheet, shall accrue daily and be payable monthly in arrears by direct credit     to his bank account on or before the 24th of each calendar month.      If at any time the Company makes overpayments to the Employee or if there are any amounts outstanding from him to the     Company, the Employee will enter into any agreement or provide any necessary consent to repay any amounts owing to the     Company.       Clause 4.    Annual Leave      The Employee is entitled to the annual leave stated in the Employee Data Sheet. All leave taken must be approved in advance by     the relevant manager via a completed leave application form with copy to the Human Resources representative.     The Employee's annual leave entitlement will be deemed to accrue from day to day.       In the event that the Employee is sick, injured or caring for a member of their immediate family or household during a period of     annual leave, the Employee will only be entitled to treat that day as personal/carer's leave if the Employee provides a certificate     from a medical practitioner for each such day of personal/carer's leave, if required by the Company's policies and practices, as     amended from time to time.            Clause 5.    Personal/Carer's Leave     If the Employee cannot attend work due to his own injury or illness or if he is required to care for a member of his immediate     family or household with an injury or illness, he should telephone the Company or arrange for someone to telephone or otherwise     deliver a message on his behalf on the first day of absence and indicate when he expects to return to work. If his return to work     is delayed, the Employee should contact the Company again.     The Employee’s entitlement to personal/carer's leave is provided in the Employee Data Sheet. Personal/Carer's leave accrues     progressively throughout the year, in accordance with the Fair Work Act 2009 (Cth).          Clause 6.    Superannuation     The Company will make superannuation contributions into the Employee's nominated complying superannuation fund of the     amount stated in the Employee Data Sheet or as otherwise to the extent required by the superannuation guarantee legislation to     avoid imposition of a superannuation guarantee charge.       The  Employee  reserves  the  right  to  increase  his  superannuation  contribution  to  the  maximum  level  allowed  by  the     superannuation guarantee legislation with a commensurate offset to base salary.        .14                                                                                                         4 of 10 pages 

 

                                                                                                                                                                                                           Australia                      Clause 7.    Company Car or Car Allowance          The Company will pay the Employee the car allowance set out in the Employee Data Sheet in the same manner and at the same     time as his Base Salary payments.           Clause 8.    Mobility     The Employee will normally be based at the Company’s principal office as stated in the Employee Data Sheet, but he may be     required to work on a temporary or permanent basis at another location specified by the Company if required for operational     reasons.      The Employee also will be required to travel on the Company’s and/or Group’s client business in Australia and abroad and the     Employee agrees that this travel will form part of his normal duties.     If by mutual agreement the Employee is assigned to work abroad for a continuous period of more than 1 month, the Company     will provide him with details of any changes to his terms and conditions of employment that will apply during such period.          Clause 9.    Exclusivity      Throughout the duration of the Contract, the Employee shall be bound to an obligation of loyalty and good faith with regard to     the Company.     The Employee undertakes to devote all of his working time and efforts exclusively to the Company and cannot, therefore, exercise     any other professional activity throughout the duration of this Contract, unless specific and prior written consent is given by a     lawfully appointed representative of the Company.             Clause 10.   Intellectual Property and Inventions     "Intellectual  Property Rights"  means  copyrights,  patents,  utility  models,  trademarks,  service  marks,  design  rights  (whether     registered or unregistered), database rights, semiconductor topography rights, proprietary information rights and all other similar     proprietary  rights  and applications  for  such  rights  as  may  exist  anywhere  in  the  world  and  any  applications,  extensions  and     renewals in relation to any of these rights; and     "Inventions"  means  all  inventions,  improvements,  modifications,  processes,  formulae,  models,  prototypes  and  sketches,     drawings, plans or specifications for them or other matters which the Employee alone or with one or more others may make,     devise or discover during the employment and which pertain or are actually or potentially useful to the commercial or industrial     activities from time to time of the Company or any Group Company or the processes or machinery of the Company or any Group     Company for providing the services or making the products of the Company or Group Company or which pertain to, result from     or are suggested by any work which the Employee or any employee has done or may do during the employment.     The Employee will promptly disclose and deliver to the Company for the exclusive use and benefit of the Company or any other     Group Company full details of any Inventions upon the making, devising or discovering of the same during the employment,     irrespective of whether they were so made, devised or discovered during normal working hours or using the facilities of the     Company or other Group Company.  The Employee will, irrespective of the termination of the employment, give all information     and data in his possession as to the exact mode of working, producing and using the same and will also at the expense of the     Company give all such explanations, demonstrations and instructions to the Company as it may deem appropriate to enable the     full and effectual working, production or use of the same.       The Employee will, without additional payment to him, whether or not during the continuance of the employment, at the expense     of the Company, promptly execute and do all acts, matters, documents and things necessary to enable the Company, any other     Group Company or any nominee to apply for and obtain any or all applicable Intellectual Property Rights in any or all countries     relating to any Inventions or other materials produced by the Employee during the employment.        The Employee:         •   will do anything necessary to confirm vesting of title to any or all applicable Intellectual Property Rights (except only to            the extent that such Intellectual Property Rights fail to vest in the Company or any Group Company) in any or all countries            relating to any Inventions or other materials produced by the Employee during the employment in the Company, any   .14                                                                                                         5 of 10 pages 

 

                                                                                                                                                                                                           Australia                        other Group Company or any nominee absolutely;                    •   with  full  title  guarantee  hereby  assigns  (insofar  as  title  to  them  does  not  automatically  vest  in  the  Company  as  a            consequence of the employment) to the Company by way of future assignment all copyrights arising in any original            material (including without limitation source code and object code for software) produced by the Employee during the            employment, whether during the normal hours of work of the Company or otherwise or at the premises or using the            facilities of the Company or otherwise, being the exclusive right to do and to authorise others to do any and all acts            restricted by relevant legislation, as in force or amended from time to time, t in relation to such material in the Australia            together with copyright in all other countries of the world (and/or any similar rights in countries where such rights exist)            for the whole term of such copyright including any extensions or renewals thereof and including the right to sue for            damages and other remedies in respect of any infringements of the copyrights in such material or conversion of infringing            copies of the material prior to the date of this Agreement to hold unto the Company absolutely; and                    •   waives all moral rights arising from any such original material so far as the Employee may lawfully do so in favour of the            Company and for the avoidance of doubt this waiver shall extend to the licensees and successors in title to the copyright            in the said material.     Without prejudice to the generality of the above, the Employee hereby irrevocably and by way of security appoints the Company     as his attorney in his stead to do all such things and execute all such documents as may be necessary for or incidental to grant to     the Company the full benefit of this Clause.       The Employee will do nothing (whether by omission or commission) during the Employment or at any times thereafter to affect     or imperil the validity of any Intellectual Property Rights obtained, applied for or to be applied for by the Company or its nominee.     In particular without limitation the Employee shall not disclose the subject matter of any Inventions which may be patentable     before the Company has had the opportunity to apply for any patent or patents.  The Employee will at the direction and expense     of the Company promptly render all assistance within his power to obtain and maintain such Intellectual Property Rights or any     application for any extension of them.      Nothing in this Agreement obliges the Company or any other Group Company to seek patent or other protection for any Invention     or to exploit any Invention.           Clause 11.   Restrictions     The Employee must not in a Relevant Capacity except with the prior written consent of the Company (save as the beneficial owner     of shares or other securities of a body corporate whose shares are quoted on a recognised stock exchange and which total no     more than 3% of any single class of shares or securities in such body corporate) do the following within the Restricted Area:        •   for a  period  of  6  months  after the  date  of  the  termination  of  the  Employee’s  employment with  the  Company            (“Termination Date”) with the Company, undertake, carry on or be employed, engaged or interested in any capacity in            either any business which as at the Termination Date is competitive with a Relevant Business within the Restricted Area            or any business, which as at the Termination Date is reasonably considered to be planning to compete or has taken any            active steps to compete with a Relevant Business within the Restricted Area;                     •   for a period of 12 months after the Termination Date, entice, induce or encourage a Customer to transfer or remove            custom from the Company or any other Group Company;                  •   for  a  period  of  12  months after  the  Termination  Date, solicit  or  accept  business  from  or  deal  with  a  Customer  in            connection with the supply of services in competition with the Relevant Business;                  •   for  a  period  of  12  months after  the  Termination  Date, for  a  business  competing  with  any  Relevant  Business  solicit,            interfere with or endeavour to entice away from employment or engagement with the Company or any other Group            Company (or procure or assist the solicitation, interference with or enticement of) any Key Employee, or do any act            whereby such Employee is encouraged to terminate their employment or engagement, with the Company or any other            Group Company, whether or not such person would by reason of terminating their service with the Company or any            other Group Company commit a breach of his contract or employment or engagement;                    •   for a period of 12 months after the Termination Date, for a business competing with any Relevant Business engage or   .14                                                                                                         6 of 10 pages 

 

                                                                                                                                                                                                           Australia                        employ or offer employment to (or procure or assist in the engagement or employment of or in offering employment)            to any Key Employee whether or not such person would by reason of terminating their service with the Company or any            other Group Company commit a breach of his contract of employment or engagement.         For the purpose of this clause         •   "Customer" means any person:                            o   who at any time during the Relevant Period was a customer of the Company or any other Group Company                    (whether or not goods or services were actually provided during such period) or to whom at the expiry of the                    Relevant Period the Company or any other Group Company was actively and directly seeking to supply goods                    or services, in either case for the purposes of a Relevant Business; and                                    o   with  whom  the  Employee had  dealings  at  any  time  during  the  Relevant  Period  or in  respect  of  whom  the                    Employee came into possession of confidential information in the performance of his duties for the Company                    or any other Group Company.                            •   "Key Employee" means any employee, director, consultant or independent contractor of the Company or any other            Group Company at the Termination Date or who was such an employee, director, consultant or independent contractor            at any time in the Relevant Period and in each case who worked or provided services in a senior executive, managerial,            sales, marketing, technical, support or engineering capacity or has confidential information relating to the business of            the Company or any other Group Company or contact with any Customer and with whom the Employee had contact in            the performance of his duties;                    •   "Group Company" means the Company and any of its Related Bodies Corporate (as defined by the Corporations Act 2001            (Cth)) and any company designated by the Company as an associated company from time to time or any combination or            single one of these as the context requires;                  •   "Relevant Business" means any business, product or services of the Company or any other Group Company in which,            pursuant to the Employee's duties, he was materially involved at any time during the Relevant Period;                  •   "Relevant  Capacity"  means  either  alone  or  jointly  with  another  or  others,  whether  as  principal,  agent,  consultant,            director, partner, shareholder, independent contractor, employee or in any other capacity, whether directly or indirectly,            through any other person, firm or company, and whether for the Employee's own benefit or that of others;                  •   "Relevant Period" means the period of 12 months prior to the Termination Date and ending on the Termination Date (or            the period of the Employee's employment if shorter than 12 months); and                     •   "Restricted Area" means Australia.                         The Employee hereby agrees and acknowledges that this Clause 11 is entered into by the Company for itself and in trust for each     Group Company with the intention that each Group Company will be entitled to enforce its terms directly against the Employee.      Further,  the  Employee agrees and  undertakes  that  he will,  at  the  request  and  expense  of  the  Company,  enter  into  a  direct     agreement or undertaking with any Group Company by which he will accept the restrictions contained in this Clause (or such of     them as are, in the opinion of the Company, appropriate).     The Employee acknowledges that the restraints contained in this Clause 11 are reasonable and go no further than is necessary to     protect the legitimate business interests of the Company and each Group Company.       The Employee hereby agrees and undertakes to provide to all future prospective employers with a copy of this Clause 11.     Each of the restrictions contained in Clause 11 constitutes an entirely separate and independent restriction and is considered by     the parties to be reasonable and necessary for the protection of its legitimate business interests.  If Clause 11, or part of it, is     found to be void, invalid, illegal or unenforceable by any court of competent jurisdiction but would be valid if some words were     deleted from it, or the period of it reduced, or area covered or range of activities reduced, such restriction shall apply with such     modification as may be necessary to make it valid and effective.   .14                                                                                                         7 of 10 pages 

 

                                                                                                                                                                                                           Australia                 In the event of any Clause or part of a Clause contained in this Agreement being declared invalid or unenforceable by any court     of competent jurisdiction, all other Clauses or parts of Clauses contained in this Agreement shall remain in full force and effect     and shall not be affected thereby.          Clause 12.   Personal Data     The Employee consents to the Company holding and processing both personal data and sensitive personal data for all purposes     relating to his employment.  In particular the Employee agrees that the Company can hold and process personal and sensitive     personal data to pay and review his remuneration and other benefits; provide and administer any such benefits; determine his     fitness to work for the Company or his entitlement to personal/carer's leave pay,  parental leave pay or other leave of absence;     provide information to the taxation authorities, the police, other regulatory bodies as required by law, the Company's legal advisers     and potential purchasers of the Company or any business area in which he works; administer and maintain personnel records     (including sickness and other absence records); carry out performance reviews, disciplinary or grievance procedures, and give     references to future employers; as well as transfer personal and sensitive personal data concerning him to a country outside of     Australia.             Clause 13.   Use of Company Email and Internet      The private use of Company telephones and computer resources, including the internet and e-mail, is allowed within reasonable     limits that do not impact the work and the proper operation of the Company.     The Employee is otherwise prohibited, in principle and except in the case of emergency, from using Company equipment for     additional personal use.      This prohibition covers the following resources and equipment: land line and mobile phone, email, consulting web sites, access     outside the network, etc.      All communications, whether by telephone, email, fax or any other means, which are transmitted, undertaken or received using     Company property or on Company premises, or which relate to the Company's affairs, will be treated by the Company as work-    related and are subject to ongoing and regular interception, recording and monitoring without further notice.  The Employee     should not regard any such communications as private. To avoid any difficulties about the personal or private character of the     messages/documents, the Employee should delete such personal messages after reading them, or save them in a folder named     “Private” or “Personal” that he should create. Any messages/documents not correctly identified as personal or private or not saved     in the Employee’s “Private” or “Personal” folder will be presumed professional and therefore may be accessed by the Company.      In any event, the Company shall be entitled to monitor:      •  The number of messages sent or received by the employee;     •  The origin and recipient of messages;     •  The web sites viewed;     •  The amount of time spent on these activities.      The Company may restrict access to web sites that are inappropriate for the workplace.     By  transmitting,  undertaking  or  receiving  communication  using  Company  property  or  on  Company  premises,  the  Employee     consents to the above terms.            Clause 14.   Termination with Notice      Subject to Clause 15 below, either party may terminate the employment by giving the other party notice in writing in the amount     specified in the Employee Data Sheet.  The Company may pay you in lieu for some or all of this notice period.     During any period of notice, the Employee may be required by the Company, in its absolute discretion, not to attend at his place     of work at any time and not to perform any duties for the Company or to perform only such duties, specific projects or tasks as are     assigned to him expressly by the Company, for such period and at such place or places (including, without limitation, his home) as     the Company deems necessary, provided that the Employee will be entitled to receive full pay during such period.  During any such   .14                                                                                                         8 of 10 pages 

 

                                                                                                                                                                                                           Australia                 period, the Employee will remain employed by the Company and subject to all of his express and implied duties towards the     Company.  In particular, the Employee agrees that he may not carry out work of any kind for a third party.     In the event payments or other benefits to be provided to the Employee on termination under this Contract or Hanesbrands Group     Policy exceed the amount which is permitted by the Corporations Act without the need to obtain shareholder approval, then the     Company will, in good faith,  take all reasonable  steps to obtain shareholder approval  for those payments and benefits to be     provided to the Employee in full.     If the employment is terminated for any reason:         (a) the  Employee  must  return  all  property,  including  intellectual  property,  confidential  information  and  trade  secrets,            belonging to the Company on termination, including all written or machine readable material, software, documents,            computers, credit cards, keys and vehicles if owned or leased by the Company;         (b) the  Employee  must  not  take,  delete,  alter,  record,  copy,  summarise  or  disclose  to  any  third  party  any  confidential            information, trade secrets or intellectual property belonging to the Company, in any form; and         (c) if required by the Company, the Employee must provide confirmation in writing that he has returned all confidential            information,  intellectual  property  and  trade  secrets  belonging  to  the  Company  and  any  copies  thereof,  and  has  not            retained any copies thereof or distributed any such originals or copies to any third party.             Clause 15.   Summary Termination     If the Employee:        o   commits any material breach of this Contract;        o   is guilty of any serious misconduct or willful neglect or any act of dishonesty in the discharge of his duties hereunder;        o   becomes bankrupt or make any arrangement or composition with his/her creditors; or        o   is convicted of any criminal offence other than an offence which in the Company’s reasonable opinion does not affect            his/her position or cast doubt upon his/her future ability or fitness to perform his/her duties hereunder; or         o   any other reason that would justify summary dismissal at common law,      the Company will be entitled to terminate the employment summarily and without notice.             Clause 16.   Governing Law      This Contract is governed by the laws of Victoria and the parties consent to the non-exclusive jurisdiction of the Courts of Victoria.                                                                 [Signature page to follow]    .14                                                                                                         9 of 10 pages 

 

                                                                                                                                                                                                           Australia               Signed for and on behalf of                                 Pacific Brands Ltd                                                                                                                                                                                          /s/ Joia M. Johnson                             /s/ Donald F. Cook   Signature of Director                           Signature of Director/Secretary                                                                                                         Joia M. Johnson                                 Donald F. Cook   Name of Director (please print)                 Name of Director/Secretary                                                    (please print)                                                            Signed by   David Bortolussi                                      in the presence of:                                                                                                                                         /s/ Jenny Cox                                   /s/ David Bortolussi   Signature of Witness                            Signature of David Bortolussi                                                                                                            Jenny Cox                                    Name of Witness (please print)                                      .14                                                                                                         10 of 10 pagesExhibit 10.1

    

    

    ONEWATER MARINE INC.

     

    INDEMNIFICATION AGREEMENT

     

    This Indemnification Agreement (“Agreement”) is made as of February 6, 2020 by and between OneWater Marine Inc., a Delaware corporation (the “Company”), and Philip Austin Singleton, Jr.
      (“Indemnitee”).  This Agreement supersedes and replaces any and all previous Agreements between the Company and Indemnitee covering the subject matter of this Agreement.

     

    RECITALS

     

    WHEREAS, the Board of Directors of the Company (the “Board”) believes that highly competent persons have become more reluctant to serve publicly-held corporations as directors or officers or in other
      capacities unless they are provided with adequate protection through insurance or adequate indemnification against inordinate risks of claims and actions against them arising out of their service to and activities on behalf of the corporation;

     

    WHEREAS, the Board has determined that, in order to attract and retain qualified individuals, the Company will attempt to maintain on an ongoing basis, at its sole expense, liability insurance to
      protect persons serving the Company and its subsidiaries from certain liabilities. Although the furnishing of such insurance has been a customary and widespread practice among United States-based corporations and other business enterprises, the
      Company believes that, given current market conditions and trends, such insurance may be available to it in the future only at higher premiums and with more exclusions. At the same time, directors, officers, and other persons in service to
      corporations or business enterprises are being increasingly subjected to expensive and time-consuming litigation relating to, among other things, matters that traditionally would have been brought only against the Company or business enterprise
      itself. The Amended and Restated Certificate of Incorporation of the Company (as may be amended, the “Certificate of Incorporation”) and the Amended and Restated Bylaws of the Company (as may be amended, the “Bylaws”) provide for indemnification of
      the officers and directors of the Company to the fullest extent permitted by law. Indemnitee may also be entitled to indemnification pursuant to the General Corporation Law of the State of Delaware (the “DGCL”).  The Certificate of Incorporation, the
      Bylaws and the DGCL expressly provide that the indemnification provisions set forth therein are not exclusive, and thereby contemplate that contracts may be entered into between the Company and members of the board of directors, officers and other
      persons with respect to indemnification;

     

    WHEREAS, the uncertainties relating to such insurance and to indemnification may increase the difficulty of attracting and retaining such persons;

     

    WHEREAS, the Board has determined that the increased difficulty in attracting and retaining such persons is detrimental to the best interests of the Company and its stockholders and that the Company
      should act to assure such persons that there will be increased certainty of such protection in the future;

     

    WHEREAS, it is reasonable, prudent and necessary for the Company contractually to obligate itself to indemnify, and to advance expenses on behalf of, such persons to the fullest extent permitted by
      applicable law so that they will serve or continue to serve the Company free from undue concern that they will not be so indemnified;

     

    
      
        
 

    

    
    WHEREAS, this Agreement is a supplement to and in furtherance of the Certificate of Incorporation and the Bylaws, and any resolutions adopted pursuant thereto, as well as any rights of Indemnitees
      under any directors’ and officers’ liability insurance policy, and this Agreement and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder; and

     

    WHEREAS, Indemnitee does not regard the protection available under the Certificate of Incorporation, the Bylaws and insurance as adequate in the present circumstances, and may not be willing to serve
      or continue to serve as an officer or director without adequate protection, and the Company desires Indemnitee to serve or continue to serve in such capacity. Indemnitee is willing to serve, continue to serve and to take on additional service for or
      on behalf of the Company on the condition that Indemnitee be so indemnified.

     

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

     

    Section 1.            Services to the Company.  Indemnitee agrees to serve as a director or officer of the Company or, by mutual agreement of the Company and Indemnitee, as a director or
      officer of another Enterprise (as defined below), as applicable. Indemnitee may at any time and for any reason resign from such position (subject to any other contractual obligation or any obligation imposed by operation of law), in which event the
      Company shall have no obligation under this Agreement to continue Indemnitee in such position. This Agreement shall not be deemed an employment contract between the Company (or any of its subsidiaries or any Enterprise) and Indemnitee. Indemnitee
      specifically acknowledges that Indemnitee’s employment with the Company (or any of its subsidiaries or any Enterprise), if any, is at will, and the Indemnitee may be discharged at any time for any reason, with or without cause, except as may be
      otherwise provided in any written employment contract between Indemnitee and the Company (or any of its subsidiaries or any Enterprise), other applicable formal severance policies duly adopted by the Board or, with respect to service as a director or
      officer of the Company, by the Certificate of Incorporation, the Bylaws, and the DGCL. The foregoing notwithstanding, this Agreement shall continue in force after Indemnitee has ceased to serve as a director or officer of the Company or any
      Enterprise, as applicable, as provided in Section 16 hereof.

     

    Section 2.             Definitions.  As used in this Agreement:

     

    (a)          References to “agent” shall mean any person who is or was a director, officer, or employee of the Company or a subsidiary of the Company or other person authorized by the Company to act
      for the Company, to include such person serving in such capacity as a director, officer, employee, fiduciary or other official of another corporation, partnership, limited liability company, joint venture, trust or other enterprise at the request of,
      for the convenience of, or to represent the interests of the Company or a subsidiary of the Company.

     

    (b)          A “Change in Control” shall be deemed to occur upon the earliest to occur after the date of this Agreement of any of the following events:

     

    i.             Acquisition of Stock by Third Party.  Any Person (as defined below) is or becomes the Beneficial Owner (as defined below), directly or indirectly, of securities of the Company
      representing fifteen percent (15%) or more of the combined voting power of the 

    

    

    
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    Company’s then outstanding securities unless the change in relative Beneficial Ownership of the Company’s securities by any Person results solely from a reduction in the aggregate number of outstanding shares of
      securities entitled to vote generally in the election of directors;

     

    ii.            Change in Board of Directors.  During any period of two (2) consecutive years (not including any period prior to the execution of this Agreement), individuals who at the beginning of
      such period constitute the Board, and any new director (other than a director designated by a person who has entered into an agreement with the Company to effect a transaction described in Sections 2(b)(i), 2(b)(iii) or 2(b)(iv)) whose election by
      the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds of the directors then still in office who either were directors at the beginning of the period or whose election or nomination for
      election was previously so approved, cease for any reason to constitute at least a majority of the members of the Board;

     

    iii.           Corporate Transactions.  The effective date of a merger or consolidation of the Company with any other entity, other than a merger or consolidation which would result in the voting
      securities of the Company outstanding immediately prior to such merger or consolidation continuing to represent (either by remaining outstanding or by being converted into voting securities of the Surviving Entity) more than 50% of the combined
      voting power of the voting securities of the Surviving Entity outstanding immediately after such merger or consolidation and with the power to elect at least a majority of the board of directors or other governing body of such Surviving Entity;

     

    iv.           Liquidation.  The approval by the stockholders of the Company of a complete liquidation of the Company or an agreement for the sale or disposition by the Company of all or substantially
      all of the Company’s assets; and

     

    v.            Other Events.  There occurs any other event of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A (or a response to any similar
      item on any similar schedule or form) promulgated under the Exchange Act (as defined below), whether or not the Company is then subject to such reporting requirement.

     

    For purposes of this Section 2(b), the following terms shall have the following meanings:

     

    (A)          “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended from time to time.

     

    (B)          “Person” shall have the meaning as set forth in Sections 13(d) and 14(d) of the Exchange Act; provided, however, that Person shall exclude (i) the
      Company, (ii) any trustee or other fiduciary holding securities under an employee benefit plan of the Company, and (iii) any entity owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their
      ownership of stock of the Company.

     

    (C)          “Beneficial Owner” shall have the meaning given to such term in Rule 13d-3 under the Exchange Act; provided, however, that Beneficial Owner shall
      exclude any Person otherwise 

    

    

    
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    becoming a Beneficial Owner by reason of the stockholders of the Company approving a merger of the Company with another entity.

     

    (D)          “Surviving Entity” shall mean the surviving entity in a merger or consolidation or any entity that controls, directly or indirectly, such surviving
      entity.

     

    (c)          “Corporate Status” describes the status of a person who is or was a director, trustee, partner, managing member, manager, officer, employee, agent or fiduciary of the Company or of any
      other corporation, limited liability company, partnership or joint venture, trust or other enterprise which such person is or was serving at the request of the Company.

     

    (d)          “Disinterested Director” shall mean a director of the Company who is not and was not a party to the Proceeding in respect of which indemnification is sought by Indemnitee.

     

    (e)          “Enterprise” shall mean the Company and any other corporation, limited liability company, partnership, joint venture, trust or other enterprise of which Indemnitee is or was serving at
      the request of the Company as a director, officer, trustee, partner, managing member, manager, employee, agent or fiduciary.

     

    (f)          “Expenses” shall include all reasonable attorneys’ fees, retainers, court costs, transcript costs, fees and other costs of experts and other professionals, witness fees, travel expenses,
      duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, any federal, state, local or foreign taxes imposed on Indemnitee as a result of the actual or deemed receipt of any payments under this Agreement, ERISA
      excise taxes and penalties, and all other disbursements, obligations or expenses of the types customarily incurred in connection with, or as a result of, prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing to
      be a deponent or witness in, or otherwise participating in, a Proceeding.  Expenses also shall include (i) Expenses incurred in connection with any appeal resulting from any Proceeding, including without
      limitation the premium, security for, and other costs relating to any cost bond, supersedeas bond, or other appeal bond or its equivalent, (ii) expenses incurred in connection with recovery under any directors’ and officers’ liability insurance
      policies maintained by the Company, regardless of whether Indemnitee is ultimately determined to be entitled to such indemnification, advancement or Expenses or insurance recovery, as the case may be, and (iii) for purposes of Section 14(d) only,
      Expenses incurred by or on behalf of Indemnitee in connection with the interpretation, enforcement or defense of Indemnitee’s rights under this Agreement, the Certificate of Incorporation, the Bylaws or under any directors’ and officers’ liability
      insurance policies maintained by the Company, by litigation or otherwise.  The parties agree that for the purposes of any advancement of Expenses for which Indemnitee has made written demand to the Company in accordance with this Agreement, all
      Expenses included in such demand that are certified by affidavit of Indemnitee’s counsel as being reasonable in the good faith judgment of such counsel shall be presumed conclusively to be reasonable.  Expenses, however, shall not include amounts
      paid in settlement by Indemnitee or the amount of judgments or fines against Indemnitee.

     

    (g)          “Independent Counsel” shall mean a law firm, or a member of a law firm, that is experienced in matters of corporation law and neither presently is, nor in the past five years has been,
      retained to represent:  (i) the Company or Indemnitee in any matter material to either 

    

    

    
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    such party (other than with respect to matters concerning the Indemnitee under this Agreement, or of other indemnitees under similar indemnification agreements), or (ii) any other party to the Proceeding giving rise to
      a claim for indemnification hereunder.  Notwithstanding the foregoing, the term “Independent Counsel” shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in
      representing either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement.  The Company agrees to pay the reasonable fees and expenses of the Independent Counsel referred to above and to fully indemnify such
      counsel against any and all Expenses, claims, liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto.

     

    (h)          The term “Proceeding” shall include any threatened, pending or completed action, suit, claim, counterclaim, cross claim, arbitration, mediation, alternate dispute resolution mechanism,
      investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding, whether brought in the right of the Company or otherwise and whether of a civil, criminal, administrative, legislative, regulatory or
      investigative (formal or informal) nature, including any appeal therefrom, in which Indemnitee was, is or will be involved as a party, potential party, non-party witness or otherwise by reason of Indemnitee’s Corporate Status, by reason of any action
      taken by Indemnitee (or a failure to take action by Indemnitee) or of any action (or failure to act) on Indemnitee’s part while acting pursuant to Indemnitee’s Corporate Status, in each case whether or not serving in such capacity at the time any
      liability or Expense is incurred for which indemnification, reimbursement, or advancement of Expenses can be provided under this Agreement.  If the Indemnitee believes in good faith that a given situation may lead to or culminate in the institution
      of a Proceeding, this shall be considered a Proceeding under this paragraph.

     

    (i)          Reference to “other enterprise” shall include employee benefit plans; references to “fines” shall include any excise tax assessed with respect to any employee benefit plan; references to
      “serving at the request of the Company” shall include any service as a director, officer, employee or agent of the Company which imposes duties on, or involves services by, such director, officer, employee or agent with respect to an employee benefit
      plan, its participants or beneficiaries; and a person who acted in good faith and in a manner Indemnitee  reasonably believed to be in the best interests of the participants and beneficiaries of an employee benefit plan shall be deemed to have acted
      in a manner “not opposed to the best interests of the Company” as referred to in this Agreement.

     

    Section 3.            Indemnity in Third-Party Proceedings.  The Company shall indemnify Indemnitee in accordance with the provisions of this Section 3 if Indemnitee is, or is threatened to be
      made, a party to or a participant in any Proceeding, other than a Proceeding by or in the right of the Company to procure a judgment in its favor.  Pursuant to this Section 3, Indemnitee shall be indemnified to the fullest extent permitted by
      applicable law against all Expenses, judgments, liabilities, fines, penalties and amounts paid in settlement (including all interest, assessments and other charges paid or payable in connection with or in respect of such Expenses, judgments,
      liabilities, fines, penalties and amounts paid in settlement) actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with such Proceeding or any claim, issue or matter therein, 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 Company and, in the case of a criminal Proceeding had no reasonable cause to believe that Indemnitee’s conduct was unlawful. The parties hereto intend that
      this Agreement shall provide to the fullest extent permitted by law for 

    

    

    
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    indemnification in excess of that expressly permitted by statute, including, without limitation, any indemnification provided by the Certificate of Incorporation, the Bylaws, vote of the Company’s stockholders or
      disinterested directors or applicable law.

     

    Section 4.            Indemnity in Proceedings by or in the Right of the Company.  The Company shall indemnify Indemnitee in accordance with the provisions of this Section 4 if Indemnitee is,
      or is threatened to be made, a party to or a participant in any Proceeding by or in the right of the Company to procure a judgment in its favor.  Pursuant to this Section 4, Indemnitee shall be indemnified to the fullest extent permitted by
      applicable law against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with such Proceeding or any claim, issue or matter therein, 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 Company.  If applicable law so provides, no indemnification for Expenses shall be made under this Section 4 in respect of any claim, issue or matter as to which Indemnitee shall
      have been finally adjudged by a court of competent jurisdiction (after the time for an appeal has expired) to be liable to the Company, unless and only to the extent that the Delaware Court (as hereinafter defined) or any court in which the
      Proceeding was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnification.

     

    Section 5.            Indemnification for Expenses of a Party Who is Wholly or Partly Successful. Notwithstanding any other provisions of this Agreement, to the fullest extent permitted by
      applicable law and to the extent that Indemnitee is a party to (or a participant in) and is successful, on the merits or otherwise, in any Proceeding or in defense of any claim, issue or matter therein, in whole or in part, the Company shall
      indemnify Indemnitee against all Expenses actually and reasonably incurred by or on behalf of Indemnitee in connection therewith.  If Indemnitee is not wholly successful in such Proceeding but is successful, on the merits or otherwise, as to one or
      more but less than all claims, issues or matters in such Proceeding, the Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with or related to each
      successfully resolved claim, issue or matter to the fullest extent permitted by law.  For purposes of this Section and without limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice,
      shall be deemed to be a successful result as to such claim, issue or matter.

     

    Section 6.            Indemnification For Expenses of a Witness.  Notwithstanding any other provision of this Agreement, to the fullest extent permitted by applicable law and to the extent that
      Indemnitee is, by reason of Indemnitee’s Corporate Status, a witness, is or was made (or asked) to respond to discovery requests in any Proceeding or otherwise asked to participate in any Proceeding to which Indemnitee is not a party, Indemnitee
      shall be indemnified against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection therewith.

     

    Section 7.            Partial Indemnification.  If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some or a portion of Expenses, but not,
      however, for the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion thereof to which Indemnitee is entitled.

     

    Section 8.             Additional Indemnification.

     

    
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    (a)          Notwithstanding any limitation in Sections 3, 4, or 5, the Company shall indemnify Indemnitee to the fullest extent permitted by applicable law if Indemnitee, by reason of his or her
      Corporate Status is, or is threatened to be made, a party to or a participant in any Proceeding (including a Proceeding by or in the right of the Company to procure a judgment in its favor) by reason of Indemnitee’s Corporate Status.

     

    (b)          For purposes of Section 8(a), the meaning of the phrase “to the fullest extent permitted by applicable law” shall include, but not be limited to:

     

    i.          to the fullest extent permitted by the provision of the DGCL that authorizes or contemplates additional indemnification by agreement, or the corresponding provision of any amendment to or
      replacement of the DGCL, and

     

    ii.          to the fullest extent authorized or permitted by any amendments to or replacements of the DGCL adopted after the date of this Agreement that increase the extent to which a corporation
      may indemnify its officers and directors.

     

    Section 9.            Exclusions.  Notwithstanding any provision in this Agreement, the Company shall not be obligated under this Agreement to make any indemnification payment in connection
      with any claim made against Indemnitee:

     

    (a)          for which payment has actually been made to or on behalf of Indemnitee under any insurance policy or other indemnity provision, except with respect to any excess beyond the amount paid
      under any insurance policy or other indemnity provision; or

     

    (b)          for (i) an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company within the meaning of Section 16(b) of the Exchange Act
      (as defined in Section 2(b) hereof) or similar provisions of state statutory law or common law; provided that the Company shall advance Expenses in connection with Indemnitee’s defense of a claim under Section 16(b), which advances shall be repaid to
      the Company if it is ultimately determined that Indemnitee is not entitled to indemnification; or (ii) any reimbursement of the Company by the Indemnitee of any bonus or other incentive-based or equity-based compensation or of any profits realized by
      the Indemnitee from the sale of securities of the Company, as required in each case under the Exchange Act (including any such reimbursements that arise from an accounting restatement of the Company pursuant to Section 304 of the Sarbanes-Oxley Act
      of 2002 (the “Sarbanes-Oxley Act”), or the payment to the Company of profits arising from the purchase and sale by Indemnitee of securities in violation of Section 306 of the Sarbanes-Oxley Act), if Indemnitee is held liable therefor (including
      pursuant to any settlement arrangements); or (iii) any reimbursement of the Company by Indemnitee of any compensation pursuant to any compensation recoupment or clawback policy adopted by the Board or the compensation committee of the Board,
      including but not limited to any such policy adopted to comply with stock exchange listing requirements implementing Section 10D of the Exchange Act; or

     

    (c)          except as provided in Section 14(d) of this Agreement, in connection with any Proceeding (or any part of any Proceeding) initiated by Indemnitee, including any Proceeding (or any part of
      any Proceeding) initiated by Indemnitee against the Company or its directors, officers, employees or other indemnitees, unless (i) the Board authorized the Proceeding (or any 

    

    

    
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    part of any Proceeding) prior to its initiation, (ii) such payment arises in connection with any mandatory counterclaim or cross claim or affirmative defense brought or raised by Indemnitee in any Proceeding (or any
      part of any Proceeding), or (iii) the Company provides the indemnification, in its sole discretion, pursuant to the powers vested in the Company under applicable law.

     

    Section 10.          Advances of Expenses.  Notwithstanding any provision of this Agreement to the contrary (other than Section 14(d)), the Company shall advance, to the extent not prohibited
      by law, the Expenses incurred by or on behalf of Indemnitee in connection with any Proceeding (or any part of any Proceeding) not initiated by Indemnitee or any Proceeding initiated by Indemnitee with the prior approval of the Board as provided in
      Section 9(c), and such advancement shall be made as soon as reasonably practicable, but in any event no later than within thirty (30) days after the receipt by the Company of a statement or statements requesting such advances from time to time,
      whether prior to or after final disposition of any Proceeding.  Advances shall be unsecured and interest free.  Advances shall be made without regard to Indemnitee’s ability to repay the Expenses and without regard to Indemnitee’s ultimate
      entitlement to indemnification under the other provisions of this Agreement.  In accordance with Section 14(d), advances shall include any and all reasonable Expenses incurred pursuing an action to enforce this right of advancement, including
      Expenses incurred preparing and forwarding statements to the Company to support the advances claimed.  The Indemnitee shall qualify for advances upon the execution and delivery to the Company of this Agreement, which shall constitute an undertaking
      providing that the Indemnitee undertakes to repay the amounts advanced (without interest) by the Company pursuant to this Section 10, if and only to the extent that it is ultimately determined by final non-appealable judgment or other final
      non-appealable adjudication under the provisions of any applicable law (as to which all rights of appeal therefrom have been exhausted or lapsed) that Indemnitee is not entitled to be indemnified by the Company.  No other form of undertaking shall be
      required other than the execution of this Agreement.  This Section 10 shall not apply to any claim made by Indemnitee for which indemnity is excluded pursuant to Section 9.

     

    Section 11.          Procedure for Notification and Defense of Claim.

     

    (a)          Indemnitee shall notify the Company in writing of any matter with respect to which Indemnitee intends to seek indemnification or advancement of Expenses hereunder as soon as reasonably
      practicable following the receipt by Indemnitee of written notice thereof.  The written notification to the Company shall include a description of the nature of the Proceeding and the facts underlying the Proceeding, in each case, to the extent known
      to Indemnitee.  To obtain indemnification under this Agreement, Indemnitee shall submit to the Company a written request, including therein or therewith such documentation and information as is reasonably available to Indemnitee and is reasonably
      necessary to determine whether and to what extent Indemnitee is entitled to indemnification following the final disposition of such Proceeding.  The omission by Indemnitee to notify the Company hereunder will not relieve the Company from any
      liability which it may have to Indemnitee hereunder or otherwise than under this Agreement, and any delay in so notifying the Company shall not constitute a waiver by Indemnitee of any rights under this Agreement.  The Secretary of the Company shall,
      promptly upon receipt of such a request for indemnification, advise the Board in writing that Indemnitee has requested indemnification.

     

    (b)          The Company will be entitled to participate in the Proceeding at its own expense.

     

    
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    (c)          The Company shall not settle any Proceeding (in whole or in part) if such settlement would impose any Expense, judgment, liability, fine, penalty or limitation on Indemnitee which
      Indemnitee is not entitled to be indemnified hereunder without Indemnitee’s prior written consent, which shall not be unreasonably withheld.

     

    Section 12.          Procedure Upon Application for Indemnification.

     

    (a)          Upon written request by Indemnitee for indemnification pursuant to Section 11(a), a determination, if required by applicable law, with respect to Indemnitee’s entitlement thereto shall be
      made in the specific case:  (i) if a Change in Control shall have occurred, by Independent Counsel in a written opinion to the Board, a copy of which shall be delivered to Indemnitee; or (ii) if a Change in Control shall not have occurred, (A) by a
      majority vote of the Disinterested Directors, even though less than a quorum of the Board, (B) by a committee of Disinterested Directors designated by a majority vote of the Disinterested Directors, even though less than a quorum of the Board, (C) if
      there are no such Disinterested Directors or, if such Disinterested Directors so direct, by Independent Counsel in a written opinion to the Board, a copy of which shall be delivered to Indemnitee or (D) if so directed by the Board, by the
      stockholders of the Company; and, if it is so determined that Indemnitee is entitled to indemnification, payment to Indemnitee shall be made within ten (10) days after such determination.  Indemnitee shall cooperate with the person, persons or entity
      making such determination with respect to Indemnitee’s entitlement to indemnification, including providing to such person, persons or entity upon reasonable advance request any documentation or information which is not privileged or otherwise
      protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary to such determination.  Any costs or Expenses (including attorneys’ fees and disbursements) incurred by or on behalf of Indemnitee in so cooperating
      with the person, persons or entity making such determination shall be borne by the Company (irrespective of the determination as to Indemnitee’s entitlement to indemnification) and the Company hereby indemnifies and agrees to hold Indemnitee harmless
      therefrom.  The Company promptly will advise Indemnitee in writing with respect to any determination that Indemnitee is or is not entitled to indemnification, including a description of any reason or basis for which indemnification has been denied.

     

    (b)          In the event the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 12(a) hereof, the Independent Counsel shall be selected as
      provided in this Section 12(b).  If a Change in Control shall not have occurred, the Independent Counsel shall be selected by the Board, and the Company shall give written notice to Indemnitee advising Indemnitee of the identity of the Independent
      Counsel so selected.  If a Change in Control shall have occurred, the Independent Counsel shall be selected by Indemnitee (unless Indemnitee shall request that such selection be made by the Board, in which event the preceding sentence shall apply),
      and Indemnitee shall give written notice to the Company advising it of the identity of the Independent Counsel so selected.  In either event, Indemnitee or the Company, as the case may be, may, within ten (10) days after such written notice of
      selection shall have been given, deliver to the Company or to Indemnitee, as the case may be, a written objection to such selection; provided, however, that such objection may be asserted only on the ground that the Independent
      Counsel so selected does not meet the requirements of “Independent Counsel” as defined in Section 2 of this Agreement, and the objection shall set forth with particularity the factual basis of such assertion.  Absent a proper and timely objection,
      the person so selected shall 

    
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    act as Independent Counsel.  If such written objection is so made and substantiated, the Independent Counsel so selected may not serve as Independent Counsel unless and until such objection is withdrawn or the Delaware
      Court has determined that such objection is without merit.  If, within twenty (20) days after the later of submission by Indemnitee of a written request for indemnification pursuant to Section 11(a) hereof and the final disposition of the Proceeding,
      no Independent Counsel shall have been selected and not objected to, either the Company or Indemnitee may petition the Delaware Court for resolution of any objection which shall have been made by the Company or Indemnitee to the other’s selection of
      Independent Counsel and/or for the appointment as Independent Counsel of a person selected by such court or by such other person as such court shall designate, and the person with respect to whom all objections are so resolved or the person so
      appointed shall act as Independent Counsel under Section 12(a) hereof.  Upon the due commencement of any judicial proceeding or arbitration pursuant to Section 14(a) of this Agreement, Independent Counsel shall be discharged and relieved of any
      further responsibility in such capacity (subject to the applicable standards of professional conduct then prevailing).

     

    (c)          If the Company disputes a portion of the amounts for which indemnification is requested, the undisputed portion shall be paid and only the disputed portion withheld pending resolution of
      any such dispute.

     

    Section 13.          Presumptions and Effect of Certain Proceedings.

     

    (a)          In making a determination with respect to entitlement to indemnification hereunder, the person or persons or entity making such determination shall, to the fullest extent not prohibited
      by law, presume that Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted a request for indemnification in accordance with Section 11(a) of this Agreement, and the Company shall, to the fullest extent not
      prohibited by law, have the burden of proof to overcome that presumption in connection with the making by any person, persons or entity of any determination contrary to that presumption.  Neither the failure of the Company (including by its directors
      or Independent Counsel) to have made a determination prior to the commencement of any action pursuant to this Agreement that indemnification is proper in the circumstances because Indemnitee has met the applicable standard of conduct, nor an actual
      determination by the Company (including by its directors or Independent Counsel) that Indemnitee has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that Indemnitee has not met the applicable
      standard of conduct.

     

    (b)          Subject to Section 14(e), if the person, persons or entity empowered or selected under Section 12 of this Agreement to determine whether Indemnitee is entitled to indemnification shall
      not have made a determination within sixty (60) days after receipt by the Company of the request therefor, the requisite determination of entitlement to indemnification shall, to the fullest extent not prohibited by law, be deemed to have been made
      and Indemnitee shall be entitled to such indemnification, absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading, in connection with the request
      for indemnification, or (ii) a prohibition of such indemnification under applicable law; provided, however, that such 60-day period may be extended for a reasonable time, not to exceed an additional thirty (30) days, if the person, persons or entity
      making the determination with respect to entitlement to indemnification in good faith requires such additional time for the obtaining or evaluating of documentation and/or information relating thereto; and provided, further, that the foregoing
      provisions of this Section 13(b) shall not 

    
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    apply (i) if the determination of entitlement to indemnification is to be made by the stockholders pursuant to Section 12(a) of this Agreement and if (A) within fifteen (15) days after receipt by the Company of the
      request for such determination the Board has resolved to submit such determination to the stockholders for their consideration at an annual meeting thereof to be held within seventy-five (75) days after such receipt and such determination is made
      thereat, or (B) a special meeting of stockholders is called within fifteen (15) days after such receipt for the purpose of making such determination, such meeting is held for such purpose within sixty (60) days after having been so called and such
      determination is made thereat, or (ii) if the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 12(a) of this Agreement.

     

    (c)          The termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon a plea of nolo contendere or its
      equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself adversely affect the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and in a manner which Indemnitee
      reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal Proceeding, that Indemnitee had reasonable cause to believe that Indemnitee’s conduct was unlawful.

     

    (d)          For purposes of any determination of good faith, Indemnitee shall be deemed to have acted in good faith if Indemnitee’s action is based on the records or books of account of the
      Enterprise, including financial statements, or on information supplied to Indemnitee by the directors or officers of the Enterprise in the course of their duties, or on the advice of legal counsel for the Enterprise or on information or records given
      or reports made to the Enterprise by an independent certified public accountant or by an appraiser, financial advisor or other expert selected with reasonable care by or on behalf of the Enterprise.  The provisions of this Section 13(d) shall not be
      deemed to be exclusive or to limit in any way the other circumstances in which the Indemnitee may be deemed to have met the applicable standard of conduct set forth in this Agreement. Whether or not the foregoing provisions of this Section 13(d) are
      satisfied, it shall in any event be presumed that Indemnitee has at all times acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the Company.

     

    (e)          The knowledge and/or actions, or failure to act, of any director, officer, trustee, partner, managing member, manager, fiduciary, agent or employee of the Enterprise shall not be imputed
      to Indemnitee for purposes of determining the right to indemnification under this Agreement.

     

    Section 14.          Remedies of Indemnitee.

     

    (a)          Subject to Section 14(e), in the event that (i) a determination is made pursuant to Section 12 of this Agreement that Indemnitee is not entitled to indemnification under this Agreement,
      (ii) advancement of Expenses is not timely made pursuant to Section 10 of this Agreement, (iii) no determination of entitlement to indemnification shall have been made pursuant to Section 12(a) of this Agreement within ninety (90) days after receipt
      by the Company of the request for indemnification, (iv) payment of indemnification is not made pursuant to Section 5, 6 or 7 or the second to last sentence of Section 12(a) of this Agreement within ten (10) days after receipt by the Company of a
      written request therefor, (v) payment of indemnification pursuant to Section 3, 4 or 8 of this Agreement is not made within ten (10) days after a determination has been 

    
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    made that Indemnitee is entitled to indemnification, or (vi) the Company or any other person takes or threatens to take any action to declare this Agreement void or unenforceable, or institutes any litigation or other
      action or Proceeding designed to deny, or to recover from, the Indemnitee the benefits provided or intended to be provided to the Indemnitee hereunder, Indemnitee shall be entitled to an adjudication by a court of Indemnitee’s entitlement to such
      indemnification or advancement of Expenses.  Alternatively, Indemnitee, at Indemnitee’s option, may seek an award in arbitration to be conducted by a single arbitrator pursuant to the Commercial Arbitration Rules of the American Arbitration
      Association.  Indemnitee shall commence such proceeding seeking an adjudication or an award in arbitration within 180 days following the date on which Indemnitee first has the right to commence such proceeding pursuant to this Section 14(a);
      provided, however, that the foregoing clause shall not apply in respect of a proceeding brought by Indemnitee to enforce his rights under Section 5 of this Agreement.  The Company shall not oppose Indemnitee’s right to seek any such adjudication or
      award in arbitration.

     

    (b)          In the event that a determination shall have been made pursuant to Section 12(a) of this Agreement that Indemnitee is not entitled to indemnification, any judicial proceeding or
      arbitration commenced pursuant to this Section 14 shall be conducted in all respects as a de novo trial, or arbitration, on the merits and Indemnitee shall not be prejudiced by reason of that adverse determination.  In any judicial
      proceeding or arbitration commenced pursuant to this Section 14 the Company shall have the burden of proving Indemnitee is not entitled to indemnification or advancement of Expenses, as the case may be.

     

    (c)          If a determination shall have been made pursuant to Section 12(a) of this Agreement that Indemnitee is entitled to indemnification, the Company shall be bound by such determination in any
      judicial proceeding or arbitration commenced pursuant to this Section 14, absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading, in connection
      with the request for indemnification, or (ii) a prohibition of such indemnification under applicable law.

     

    (d)          The Company shall, to the fullest extent not prohibited by law, be precluded from asserting in any judicial proceeding or arbitration commenced pursuant to this Section 14 that the
      procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court or before any such arbitrator that the Company is bound by all the provisions of this Agreement.  It is the intent of the
      Company that, to the fullest extent permitted by law, the Indemnitee not be required to incur legal fees or other Expenses associated with the interpretation, enforcement or defense of Indemnitee’s rights under this Agreement by litigation or
      otherwise because the cost and expense thereof would substantially detract from the benefits intended to be extended to the Indemnitee hereunder.  The Company shall, to the fullest extent permitted by law, indemnify Indemnitee against any and all
      Expenses and, if requested by Indemnitee, shall (within ten (10) days after receipt by the Company of a written request therefor) advance, to the extent not prohibited by law, such Expenses to Indemnitee, which are incurred by or on behalf of
      Indemnitee in connection with any action brought by Indemnitee for indemnification or advancement of Expenses from the Company under this Agreement or under any directors’ and officers’ liability insurance policies maintained by the Company if, in
      the case of indemnification, Indemnitee is wholly successful on the underlying claims; if Indemnitee is not wholly successful on the underlying claims, then such indemnification shall be only to the extent Indemnitee is successful on such underlying
      claims or otherwise as permitted by law, whichever is greater.

     

    
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    (e)          Notwithstanding anything in this Agreement to the contrary, no determination as to entitlement of Indemnitee to indemnification under this Agreement shall be required to be made prior to
      the final disposition of the Proceeding.

     

    Section 15.          Non-exclusivity; Survival of Rights; Insurance; Subrogation.

     

    (a)          The rights of indemnification and to receive advancement of Expenses as provided by this Agreement (i) shall not be deemed exclusive of any other rights to which Indemnitee may at any
      time be entitled under applicable law, the Certificate of Incorporation, the Bylaws, any agreement, a vote of stockholders or a resolution of directors, or otherwise and (ii) shall be interpreted independently of, and without reference to, any other
      such rights to which Indemnitee may at any time be entitled.  No amendment, alteration or repeal of this Agreement or of any provision hereof, the Certificate of Incorporation or the Bylaws shall limit or restrict any right of Indemnitee under this
      Agreement in respect of any action taken or omitted by Indemnitee in Indemnitee’s Corporate Status prior to such amendment, alteration or repeal. To the extent that a change in Delaware law, whether by statute or judicial decision, permits greater
      indemnification or advancement of Expenses than would be afforded currently under the Bylaws, the Certificate of Incorporation and this Agreement, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater
      benefits so afforded by such change.  No right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition to every other right and remedy given hereunder
      or now or hereafter existing at law or in equity or otherwise.  The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other right or remedy.

     

    (b)          To the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers, employees, or agents of the Enterprise, Indemnitee shall be
      covered by such policy or policies in accordance with its or their terms to the maximum extent of the coverage available for any such director, officer, employee or agent under such policy or policies.  If, at the time of the receipt of a notice of a
      claim pursuant to the terms hereof, the Company has director and officer liability insurance in effect, the Company shall give prompt notice of such claim or of the commencement of a Proceeding, as the case may be, to the insurers in accordance with
      the procedures set forth in the respective policies.  The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such Proceeding in accordance
      with the terms of such policies.

     

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

     

    (d)          The Company hereby acknowledges that Indemnitee may have certain rights to indemnification, advancement and insurance provided by one or more Persons with whom or which Indemnitee may be
      associated. The Company hereby acknowledges and agrees that (i) the Company shall be the indemnitor of first resort with respect to any Proceeding, Expense, liability or matter that is the subject of the Indemnity Obligations (as defined below), (ii)
      the 

    

    
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    Company shall be primarily liable for all Indemnity Obligations and any indemnification afforded to Indemnitee in respect of any Proceeding, Expense, liability or matter that is the subject of Indemnity Obligations,
      whether created by applicable law, organizational or constituent documents, contract (including this Agreement) or otherwise, (iii) any obligation of any other Persons with whom or which Indemnitee may be associated to indemnify Indemnitee or advance
      Expenses or liabilities to Indemnitee in respect of any Proceeding shall be secondary to the obligations of the Company hereunder, (iv) the Company shall be required to indemnify Indemnitee and advance Expenses or liabilities to Indemnitee hereunder
      to the fullest extent provided herein without regard to any rights Indemnitee may have against any other Person with whom or which Indemnitee may be associated or insurer of any such Person and (v) the Company irrevocably waives, relinquishes and
      releases any other Person with whom or which Indemnitee may be associated from any claim of contribution, subrogation or any other recovery of any kind in respect of amounts paid by the Company hereunder. In the event any other Person with whom or
      which Indemnitee may be associated or their insurers advances or extinguishes any liability or loss which is the subject of any Indemnity Obligation owed by the Company or payable under any Company insurance policy, the payor shall have a right of
      subrogation against the Company or its insurer or insurers for all amounts so paid which would otherwise be payable by the Company or its insurer or insurers under this Agreement. In no event will payment of an Indemnity Obligation by any other
      Person with whom or which Indemnitee may be associated or their insurers affect the obligations of the Company hereunder or shift primary liability for any Indemnity Obligation to any other Person with whom or which Indemnitee may be associated. Any
      indemnification, insurance or advancement provided by any other Person with whom or which Indemnitee may be associated with respect to any liability arising as a result of Indemnitee’s status as director, officer, employee or agent of the Company or
      capacity as an officer or director of any Person is specifically in excess over any Indemnity Obligation of the Company or valid and any collectible insurance (including but not limited to any malpractice insurance or professional errors and
      omissions insurance) provided by the Company under this Agreement. As used herein, the term “Indemnity Obligations” shall mean all obligations of the Company to Indemnitee under the Certificate of Incorporation, the Bylaws, this Agreement or
      otherwise, including the Company’s obligations to provide indemnification to Indemnitee and advance Expenses to Indemnitee under this Agreement.

     

    Section 16.          Duration of Agreement.  This Agreement shall continue until and terminate upon the later of: (a) ten (10) years after the date that Indemnitee shall have ceased to serve as
      a director or officer of the Company or any other Enterprise, as applicable, or (b) one (1) year after the final termination of any Proceeding then pending in respect of which Indemnitee is granted rights of indemnification or advancement of Expenses
      hereunder and of any proceeding (including any appeal thereof) commenced by Indemnitee pursuant to Section 14 of this Agreement relating thereto.  The indemnification and advancement of expenses rights provided by or granted pursuant to this
      Agreement shall be binding upon and be enforceable by the parties hereto and their respective successors and assigns (including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the
      business or assets of the Company), shall continue as to an Indemnitee who has ceased to be a director, officer, employee or agent of the Company or of any other Enterprise, and shall inure to the benefit of Indemnitee and Indemnitee’s spouse,
      assigns, heirs, devisees, executors and administrators and other legal representatives. The Company shall require and shall cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to all or substantially all
      of the business or assets of the Company to, by written agreement, expressly assume and agree to perform this 

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

    

    

    Section 17.          Severability.  Nothing in this Agreement is intended to require or shall be construed as requiring the Company to do or fail to do any act in violation of applicable law.
      The Company’s inability, pursuant to court order or other applicable law, to perform its obligations hereunder shall not constitute a breach of this Agreement. If any provision or provisions of this Agreement shall be held to be invalid, illegal or
      unenforceable for any reason whatsoever: (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including without limitation, each portion of any Section of this Agreement containing any such provision held to be
      invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and shall remain enforceable to the fullest extent permitted by law; (b) such provision or provisions shall
      be deemed reformed to the extent necessary to conform to applicable law and to give the maximum effect to the intent of the parties hereto; and (c) to the fullest extent possible, the provisions of this Agreement (including, without limitation, each
      portion of any Section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested thereby.

     

    Section 18.          Enforcement.

     

    (a)          The Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on it hereby in order to induce Indemnitee to serve or continue to
      serve as a director or officer of the Company, and the Company acknowledges that Indemnitee is relying upon this Agreement in serving or continuing to serve as a director or officer of the Company.

     

    (b)          This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes all prior agreements and understandings, oral, written
      and implied, between the parties hereto with respect to the subject matter hereof; provided, however, that this Agreement is a supplement to and in furtherance of the Certificate of Incorporation, the Bylaws, any directors’ and officers’ insurance
      maintained by the Company and applicable law, and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder.

     

    Section 19.          Modification and Waiver.  No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by the parties hereto.  No waiver of any of
      the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions of this Agreement nor shall any waiver constitute a continuing waiver.

     

    Section 20.          Notice by Indemnitee.  Indemnitee agrees promptly to notify the Company in writing upon being served with any summons, citation, subpoena, complaint, indictment,
      information or other document relating to any Proceeding or matter which may be subject to indemnification or advancement of Expenses covered hereunder.  The failure of Indemnitee to so notify the Company shall not relieve the Company of any
      obligation which it may have to the Indemnitee under this Agreement or otherwise.

     

    
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    Section 21.          Notices.  All notices, requests, demands and other communications under this Agreement shall be in writing and shall be deemed to have been duly given if (a) delivered by
      hand and receipted for by the party to whom said notice or other communication shall have been directed, (b) mailed by certified or registered mail with postage prepaid, on the third business day after the date on which it is so mailed, (c) mailed by
      reputable overnight courier and receipted for by the party to whom said notice or other communication shall have been directed or (d) sent by facsimile transmission, with receipt of oral confirmation that such transmission has been received:

     

    (a)          If to Indemnitee, at the address indicated on the signature page of this Agreement, or such other address as Indemnitee shall provide to the Company.

     

    (b)          If to the Company to

     

    OneWater Marine Inc.

    6275 Lanier Islands Parkway

    Buford, Georgia 30518

    Attn: Jack Ezzell

    

    

    or to any other address as may have been furnished to Indemnitee by the Company.

     

    Section 22.          Contribution.  To the fullest extent permissible under applicable law, if the indemnification provided for in this Agreement is unavailable to Indemnitee for any reason
      whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee, whether for judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or for Expenses, in connection
      with any claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in light of all of the circumstances of such Proceeding in order to reflect (i) the relative benefits received by the Company
      and Indemnitee as a result of the event(s) and/or transaction(s) giving cause to such Proceeding; and/or (ii) the relative fault of the Company (and its directors, officers, employees and agents) and Indemnitee in connection with such event(s) and/or
      transaction(s).

     

    Section 23.          Applicable Law and Consent to Jurisdiction.  This Agreement and the legal relations among the parties shall be governed by, and construed and enforced in accordance with,
      the laws of the State of Delaware, without regard to its conflict of laws rules.  Except with respect to any arbitration commenced by Indemnitee pursuant to Section 14(a) of this Agreement, the Company and Indemnitee hereby irrevocably and
      unconditionally (i) agree that any action or proceeding arising out of or in connection with this Agreement shall be brought only in the Court of Chancery of the State of Delaware (the “Delaware Court”), and not in any other state or federal court in
      the United States of America or any court in any other country, (ii) consent to submit to the exclusive jurisdiction of the Delaware Court for purposes of any action or proceeding arising out of or in connection with this Agreement, (iii) waive any
      objection to the laying of venue of any such action or proceeding in the Delaware Court, and (iv) waive, and agree not to plead or to make, any claim that any such action or proceeding brought in the Delaware Court has been brought in an improper or
      inconvenient forum.

     

    Section 24.          Identical Counterparts.  This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but all of which
      together shall constitute one and the same Agreement.  Only one such counterpart signed by the party against whom enforceability is sought needs to be produced to evidence the existence of this Agreement.
       

      Section 25.          Miscellaneous.  Use of the masculine pronoun shall be deemed to include usage of the feminine pronoun where appropriate.  The headings of this Agreement are inserted for convenience only and
        shall not be deemed to constitute part of this Agreement or to affect the construction thereof.

    

    
      -16-

      
        
 

    

     
    IN WITNESS WHEREOF, the parties have caused this Agreement to be signed as of the day and year first above written.

    
      	 	 	 	 	 	 
	
              ONEWATER MARINE INC.

            	 	
              INDEMNITEE

            
	 	 	 	 	 	 
	
              By:

            	/s/ Jack Ezzell	 	
              By:

            	/s/ Philip Austin Singleton, Jr.
	
              Name: Jack Ezzell

            	 	
              Name: Philip Austin Singleton, Jr.

            
	
              Title: Chief Financial Officer

            	 	
              Address: 

            	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 

    

     

    

    Signature Page to

      Indemnification Agreement

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