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                                                                 EXHIBIT 10.33

                 DIRECTOR AND OFFICER INDEMNIFICATION AGREEMENT

         This Director and Officer Indemnification Agreement, dated as of
___________, 2005 (this "AGREEMENT"), is made by and between Alon USA Energy,
Inc., a Delaware corporation (the "COMPANY"), and _______________________
("INDEMNITEE").

                                    RECITALS:

         A. Section 141 of the Delaware General Corporation Law provides that
the business and affairs of a corporation shall be managed by or under the
direction of its board of directors.

         B. Pursuant to Sections 141 and 142 of the Delaware General Corporation
Law, significant authority with respect to the management of the Company has
been delegated to the officers of the Company.

         C. By virtue of the managerial prerogatives vested in the directors and
officers of a Delaware corporation, directors and officers act as fiduciaries of
the corporation and its stockholders.

         D. Thus, it is critically important to the Company and its stockholders
that the Company be able to attract and retain the most capable persons
reasonably available to serve as directors and officers of the Company.

         E. In recognition of the need for corporations to be able to induce
capable and responsible persons to accept positions in corporate management,
Delaware law authorizes (and in some instances requires) corporations to
indemnify their directors and officers, and further authorizes corporations to
purchase and maintain insurance for the benefit of their directors and officers.

         F. The Delaware courts have recognized that indemnification by a
corporation serves the dual policies of (1) allowing corporate officials to
resist unjustified lawsuits, secure in the knowledge that, if vindicated, the
corporation will bear the expense of litigation and (2) encouraging capable
women and men to serve as corporate directors and officers, secure in the
knowledge that the corporation will absorb the costs of defending their honesty
and integrity.

         G. The number of lawsuits challenging the judgment and actions of
directors and officers of Delaware corporations, the costs of defending those
lawsuits, and the threat to directors' and officers' personal assets have all
materially increased over the past several years, chilling the willingness of
capable women and men to undertake the responsibilities imposed on corporate
directors and officers.

         H. Recent federal legislation and rules adopted by the Securities and
Exchange Commission and the national securities exchanges have imposed
additional disclosure and corporate governance obligations on directors and
officers of public companies and have exposed such directors and officers to new
and substantially broadened civil liabilities.

         I. These legislative and regulatory initiatives have also exposed
directors and officers of public companies to a significantly greater risk of
criminal proceedings, with attendant defense costs and potential criminal fines
and penalties.

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         J. Under Delaware law, a director's and an officer's right to be
reimbursed for the costs of defense of criminal actions, whether such claims are
asserted under state or federal law, does not depend upon the merits of the
claims asserted against the director or officer and is separate and distinct
from any right to indemnification the director or officer may be able to
establish, and indemnification of the director or officer against criminal fines
and penalties is permitted if the director or officer satisfies the applicable
standard of conduct.

         K. Indemnitee is a director and officer of the Company and his/her
willingness to serve in such capacity is predicated, in substantial part, upon
the Company's willingness to indemnify him/her in accordance with the principles
reflected above, to the fullest extent permitted by the laws of the state of
Delaware, and upon the other undertakings set forth in this Agreement.

         L. Therefore, in recognition of the need to provide Indemnitee with
substantial protection against personal liability, in order to procure
Indemnitee's continued service as a director and officer of the Company and to
enhance Indemnitee's ability to serve the Company in an effective manner, and in
order to provide such protection pursuant to express contract rights (intended
to be enforceable irrespective of, among other things, any amendment to the
Company's certificate of incorporation or bylaws (collectively, the "CONSTITUENT
DOCUMENTS"), any change in the composition of the Company's Board of Directors
(the "BOARD") or any change-in-control or business combination transaction
relating to the Company), the Company wishes to provide in this Agreement for
the indemnification of and the advancement of Expenses (as defined in Section
1(e)) to Indemnitee as set forth in this Agreement and for the continued
coverage of Indemnitee under the Company's directors' and officers' liability
insurance policies.

         M. In light of the considerations referred to in the preceding
recitals, it is the Company's intention and desire that the provisions of this
Agreement be construed liberally, subject to their express terms, to maximize
the protections to be provided to Indemnitee hereunder.

                                   AGREEMENT:

         NOW, THEREFORE, the parties hereby agree as follows:

         1. CERTAIN DEFINITIONS. In addition to terms defined elsewhere herein,
the following terms have the following meanings when used in this Agreement with
initial capital letters:

                  (a) "CHANGE IN CONTROL" means the occurrence after the date of
this Agreement of any of the following events:

                           (i) the acquisition by any individual, entity or
group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act)
(a "PERSON") of beneficial ownership (within the meaning of Rule 13d-3
promulgated under the Exchange Act) of 20% or more of the combined voting power
of the then-outstanding Voting Stock of the Company; provided, however, that:

                                    (A) for purposes of this Section 1(a)(i),
the following acquisitions shall not constitute a Change in Control: (1) any
acquisition of Voting Stock of the Company directly from the Company that is
approved by a majority of the Incumbent Directors,

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(2) any acquisition of Voting Stock of the Company by the Company or any
Subsidiary, (3) any acquisition of Voting Stock of the Company by any employee
benefit plan (or related trust) sponsored or maintained by the Company or any
Subsidiary, and (4) any acquisition of Voting Stock of the Company by any Person
pursuant to a Business Combination that complies with clauses (A), (B) and (C)
of Section 1(a)(iii) below;

                                    (B) if any Person acquires beneficial
ownership of 20% or more of combined voting power of the then-outstanding Voting
Stock of the Company as a result of a transaction described in clause (A)(1) of
Section 1(a)(i) and such Person thereafter becomes the beneficial owner of any
additional shares of Voting Stock of the Company representing 1% or more of the
then-outstanding Voting Stock of the Company, other than in an acquisition
directly from the Company that is approved by a majority of the Incumbent
Directors or other than as a result of a stock dividend, stock split or similar
transaction effected by the Company in which all holders of Voting Stock are
treated equally, such subsequent acquisition shall be deemed to constitute a
Change in Control;

                                    (C) a Change in Control will not be deemed
to have occurred if a Person acquires beneficial ownership of 20% or more of the
Voting Stock of the Company as a result of a reduction in the number of shares
of Voting Stock of the Company outstanding unless and until such Person
thereafter becomes the beneficial owner of any additional shares of Voting Stock
of the Company representing 1% or more of the then-outstanding Voting Stock of
the Company, other than in an acquisition directly from the Company that is
approved by a majority of the Incumbent Directors or other than as a result of a
stock dividend, stock split or similar transaction effected by the Company in
which all holders of Voting Stock are treated equally; and

                                    (D) if at least a majority of the Incumbent
Directors determines in good faith that a Person has acquired beneficial
ownership of 20% or more of the Voting Stock of the Company inadvertently, and
such Person divests as promptly as practicable a sufficient number of shares so
that such Person beneficially owns less than 20% of the Voting Stock of the
Company, then no Change in Control shall have occurred as a result of such
Person's acquisition; or

                           (ii) a majority of the Directors are not Incumbent
Directors; or

                           (iii) the consummation of a reorganization, merger or
consolidation, or sale or other disposition of all or substantially all of the
assets of the Company or the acquisition of assets of another corporation, or
other transaction (each, a "BUSINESS COMBINATION"), unless, in each case,
immediately following such Business Combination (A) all or substantially all of
the individuals and entities who were the beneficial owners of Voting Stock of
the Company immediately prior to such Business Combination beneficially own,
directly or indirectly, more than 60% of the combined voting power of the then
outstanding shares of Voting Stock of the entity resulting from such Business
Combination (including an entity which as a result of such transaction owns the
Company or all or substantially all of the Company's assets either directly or
through one or more subsidiaries), (B) no Person (other than the Company, such
entity resulting from such Business Combination, or any employee benefit plan
(or related trust) sponsored or maintained by the Company, any Subsidiary or
such entity resulting from such Business Combination) beneficially owns,
directly or indirectly, 20% or

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more of the combined voting power of the then outstanding shares of Voting Stock
of the entity resulting from such Business Combination, and (C) at least a
majority of the members of the Board of Directors of the entity resulting from
such Business Combination were Incumbent Directors at the time of the execution
of the initial agreement or of the action of the Board providing for such
Business Combination; or

                           (iv) approval by the stockholders of the Company of a
complete liquidation or dissolution of the Company, except pursuant to a
Business Combination that complies with clauses (A), (B) and (C) of Section
1(a)(iii).

                           (v) For purposes of this Section 1(a) and as used
elsewhere in this Agreement, the following terms shall have the following
meanings:

                                    (A) "EXCHANGE ACT" shall mean the Securities
Exchange Act of 1934, as amended.

                                    (B) "INCUMBENT DIRECTORS" means the
individuals who, as of the date hereof, are Directors of the Company and any
individual becoming a Director subsequent to the date hereof whose election,
nomination for election by the Company's stockholders, or appointment, was
approved by a vote of at least two-thirds of the then Incumbent Directors
(either by a specific vote or by approval of the proxy statement of the Company
in which such person is named as a nominee for director, without objection to
such nomination); provided, however, that an individual shall not be an
Incumbent Director if such individual's election or appointment to the Board
occurs as a result of an actual or threatened election contest (as described in
Rule 14a-12(c) of the Exchange Act) with respect to the election or removal of
Directors or other actual or threatened solicitation of proxies or consents by
or on behalf of a Person other than the Board.

                                    (C) "SUBSIDIARY" means an entity in which
the Company directly or indirectly beneficially owns 50% or more of the
outstanding Voting Stock.

                                    (D) "VOTING STOCK" means securities entitled
to vote generally in the election of directors (or similar governing bodies).

                  (b) "CLAIM" means (i) any threatened, asserted, pending or
completed claim, demand, action, suit or proceeding, whether civil, criminal,
administrative, arbitrative, investigative or other, and whether made pursuant
to federal, state or other law; and (ii) any threatened, pending or completed
inquiry or investigation, whether made, instituted or conducted by the Company
or any other person, including any federal, state or other governmental entity,
that Indemnitee determines might lead to the institution of any such claim,
demand, action, suit or proceeding.

                  (c) "CONTROLLED AFFILIATE" means any corporation, limited
liability company, partnership, joint venture, trust or other entity or
enterprise, whether or not for profit, that is directly or indirectly controlled
by the Company. For purposes of this definition, "control" means the possession,
directly or indirectly, of the power to direct or cause the direction of the
management or policies of an entity or enterprise, whether through the ownership
of voting securities, through other voting rights, by contract or otherwise;
provided that direct or indirect beneficial ownership of capital stock or other
interests in an entity or enterprise entitling the

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holder to cast 20% or more of the total number of votes generally entitled to be
cast in the election of directors (or persons performing comparable functions)
of such entity or enterprise shall be deemed to constitute control for purposes
of this definition.

                  (d) "DISINTERESTED DIRECTOR" means a director of the Company
who is not and was not a party to the Claim in respect of which indemnification
is sought by Indemnitee.

                  (e) "EXPENSES" means attorneys' and experts' fees and expenses
and all other costs and expenses paid or payable in connection with
investigating, defending, being a witness in or participating in (including on
appeal), or preparing to investigate, defend, be a witness in or participate in
(including on appeal), any Claim.

                  (f) "INDEMNIFIABLE CLAIM" means any Claim based upon, arising
out of or resulting from (i) any actual, alleged or suspected act or failure to
act by Indemnitee in his or her capacity as a director, officer, employee or
agent of the Company or as a director, officer, employee, member, manager,
trustee or agent of any other corporation, limited liability company,
partnership, joint venture, trust or other entity or enterprise, whether or not
for profit, as to which Indemnitee is or was serving at the request of the
Company as a director, officer, employee, member, manager, trustee or agent,
(ii) any actual, alleged or suspected act or failure to act by Indemnitee in
respect of any business, transaction, communication, filing, disclosure or other
activity of the Company or any other entity or enterprise referred to in clause
(i) of this sentence, or (iii) Indemnitee's status as a current or former
director, officer, employee or agent of the Company or as a current or former
director, officer, employee, member, manager, trustee or agent of the Company or
any other entity or enterprise referred to in clause (i) of this sentence or any
actual, alleged or suspected act or failure to act by Indemnitee in connection
with any obligation or restriction imposed upon Indemnitee by reason of such
status. In addition to any service at the actual request of the Company, for
purposes of this Agreement, Indemnitee shall be deemed to be serving or to have
served at the request of the Company as a director, officer, employee, member,
manager, trustee or agent of another entity or enterprise if Indemnitee is or
was serving as a director, officer, employee, member, manager, trustee or agent
of such entity or enterprise and (i) such entity or enterprise is or at the time
of such service was a Controlled Affiliate, (ii) such entity or enterprise is or
at the time of such service was an employee benefit plan (or related trust)
sponsored or maintained by the Company or a Controlled Affiliate, or (iii) the
Company or a Controlled Affiliate directly or indirectly caused or authorized
Indemnitee to be nominated, elected, appointed, designated, employed, engaged or
selected to serve in such capacity.

                  (g) "INDEMNIFIABLE LOSSES" means any and all Losses relating
to, arising out of or resulting from any Indemnifiable Claim.

                  (h) "INDEPENDENT COUNSEL" means 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 any Subsidiary) or Indemnitee in any matter material to either
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 named (or, as to a threatened matter, reasonably
likely to be named) party to the Indemnifiable Claim giving rise to a claim for
indemnification hereunder. Notwithstanding the foregoing, the term "Independent
Counsel" shall not include any person who, under the

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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.

                  (i) "LOSSES" means any and all Expenses, damages, losses,
liabilities, judgments, fines, penalties (whether civil, criminal or other) and
amounts paid in settlement, including all interest, assessments and other
charges paid or payable in connection with or in respect of any of the
foregoing.

         2. INDEMNIFICATION OBLIGATION. Subject to Section 7, the Company shall
indemnify, defend and hold harmless Indemnitee, to the fullest extent permitted
or required by the laws of the State of Delaware in effect on the date hereof or
as such laws may from time to time hereafter be amended to increase the scope of
such permitted indemnification, against any and all Indemnifiable Claims and
Indemnifiable Losses; provided, however, that, except as provided in Sections 4
and 20, Indemnitee shall not be entitled to indemnification pursuant to this
Agreement in connection with any Claim initiated by Indemnitee against the
Company or any director or officer of the Company unless the Company has joined
in or consented to the initiation of such Claim.

         3. ADVANCEMENT OF EXPENSES. Indemnitee shall have the right to
advancement by the Company prior to the final disposition of any Indemnifiable
Claim of any and all Expenses relating to, arising out of or resulting from any
Indemnifiable Claim paid or incurred by Indemnitee or which Indemnitee
determines are reasonably likely to be paid or incurred by Indemnitee.
Indemnitee's right to such advancement is not subject to the satisfaction of any
standard of conduct. Without limiting the generality or effect of the foregoing,
within five business days after any request by Indemnitee, the Company shall, in
accordance with such request (but without duplication), (a) pay such Expenses on
behalf of Indemnitee, (b) advance to Indemnitee funds in an amount sufficient to
pay such Expenses, or (c) reimburse Indemnitee for such Expenses; provided that
Indemnitee shall repay, without interest any amounts actually advanced to
Indemnitee that, at the final disposition of the Indemnifiable Claim to which
the advance related, were in excess of amounts paid or payable by Indemnitee in
respect of Expenses relating to, arising out of or resulting from such
Indemnifiable Claim. In connection with any such payment, advancement or
reimbursement, Indemnitee shall execute and deliver to the Company an
undertaking, which need not be secured and shall be accepted without reference
to Indemnitee's ability to repay the Expenses, by or on behalf of the
Indemnitee, to repay any amounts paid, advanced or reimbursed by the Company in
respect of Expenses relating to, arising out of or resulting from any
Indemnifiable Claim in respect of which it shall have been determined, following
the final disposition of such Indemnifiable Claim and in accordance with Section
7, that Indemnitee is not entitled to indemnification hereunder.

         4. INDEMNIFICATION FOR ADDITIONAL EXPENSES. Without limiting the
generality or effect of the foregoing, the Company shall indemnify and hold
harmless Indemnitee against and, if requested by Indemnitee, shall reimburse
Indemnitee for, or advance to Indemnitee, within five business days of such
request, any and all Expenses paid or incurred by Indemnitee or which Indemnitee
determines are reasonably likely to be paid or incurred by Indemnitee in
connection with any Claim made, instituted or conducted by Indemnitee for (a)
indemnification or reimbursement or advance payment of Expenses by the Company
under any provision of this Agreement, or under any other agreement or provision
of the Constituent Documents now or

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hereafter in effect relating to Indemnifiable Claims, and/or (b) recovery under
any directors' and officers' liability insurance policies maintained by the
Company, regardless in each case of whether Indemnitee ultimately is determined
to be entitled to such indemnification, reimbursement, advance or insurance
recovery, as the case may be; provided, however, that Indemnitee shall return,
without interest, any such advance of Expenses (or portion thereof) which
remains unspent at the final disposition of the Claim to which the advance
related.

         5. PARTIAL INDEMNITY. If Indemnitee is entitled under any provision of
this Agreement to indemnification by the Company for some or a portion of any
Indemnifiable Loss, but not for all of the total amount thereof, the Company
shall nevertheless indemnify Indemnitee for the portion thereof to which
Indemnitee is entitled.

         6. PROCEDURE FOR NOTIFICATION. To obtain indemnification under this
Agreement in respect of an Indemnifiable Claim or Indemnifiable Loss, Indemnitee
shall submit to the Company a written request therefor, including a brief
description (based upon information then available to Indemnitee) of such
Indemnifiable Claim or Indemnifiable Loss. If, at the time of the receipt of
such request, the Company has directors' and officers' liability insurance in
effect under which coverage for such Indemnifiable Claim or Indemnifiable Loss
is potentially available, the Company shall give prompt written notice of such
Indemnifiable Claim or Indemnifiable Loss to the applicable insurers in
accordance with the procedures set forth in the applicable policies. The Company
shall provide to Indemnitee a copy of such notice delivered to the applicable
insurers, and copies of all subsequent correspondence between the Company and
such insurers regarding the Indemnifiable Claim or Indemnifiable Loss, in each
case substantially concurrently with the delivery or receipt thereof by the
Company. The failure by Indemnitee to timely notify the Company of any
Indemnifiable Claim or Indemnifiable Loss shall not relieve the Company from any
liability hereunder unless, and only to the extent that, the Company did not
otherwise learn of such Indemnifiable Claim or Indemnifiable Loss and such
failure results in forfeiture by the Company of substantial defenses, rights or
insurance coverage.

         7. DETERMINATION OF RIGHT TO INDEMNIFICATION.

                  (a) To the extent that Indemnitee shall have been successful
on the merits or otherwise in defense of any Indemnifiable Claim or any portion
thereof or in defense of any issue or matter therein, including dismissal
without prejudice, Indemnitee shall be indemnified against all Indemnifiable
Losses relating to, arising out of or resulting from such Indemnifiable Claim in
accordance with Section 2 and no Standard of Conduct Determination (as defined
in Section 7(b)) shall be required.

                  (b) To the extent that the provisions of Section 7(a) are
inapplicable to an Indemnifiable Claim that shall have been finally disposed of,
any determination of whether Indemnitee has satisfied any applicable standard of
conduct under Delaware law that is a legally required condition precedent to
indemnification of Indemnitee hereunder against Indemnifiable Losses relating
to, arising out of or resulting from such Indemnifiable Claim (a "STANDARD OF
CONDUCT DETERMINATION") shall be made as follows: (i) if a Change in Control
shall not have occurred, or if a Change in Control shall have occurred but
Indemnitee shall have requested that the Standard of Conduct Determination be
made pursuant to this clause (i), (A) by a majority vote of the Disinterested
Directors, even if less than a quorum of the Board, (B) if such Disinterested
Directors so direct, by a majority vote of a committee of Disinterested
Directors

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designated by a majority vote of all Disinterested Directors, or (C) if there
are no such Disinterested Directors, by Independent Counsel in a written opinion
addressed to the Board, a copy of which shall be delivered to Indemnitee; and
(ii) if a Change in Control shall have occurred and Indemnitee shall not have
requested that the Standard of Conduct Determination be made pursuant to clause
(i), by Independent Counsel in a written opinion addressed to the Board, a copy
of which shall be delivered to Indemnitee. Indemnitee will cooperate with the
person or persons making such Standard of Conduct Determination, including
providing to such person or persons, 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. The Company shall indemnify and hold harmless
Indemnitee against and, if requested by Indemnitee, shall reimburse Indemnitee
for, or advance to Indemnitee, within five business days of such request, any
and all costs and expenses (including attorneys' and experts' fees and expenses)
incurred by Indemnitee in so cooperating with the person or persons making such
Standard of Conduct Determination.

                  (c) The Company shall use its reasonable best efforts to cause
any Standard of Conduct Determination required under Section 7(b) to be made as
promptly as practicable. If (i) the person or persons empowered or selected
under Section 7 to make the Standard of Conduct Determination shall not have
made a determination within 30 days after the later of (A) receipt by the
Company of written notice from Indemnitee advising the Company of the final
disposition of the applicable Indemnifiable Claim (the date of such receipt
being the "NOTIFICATION DATE") and (B) the selection of an Independent Counsel,
if such determination is to be made by Independent Counsel, that is permitted
under the provisions of Section 7(e) to make such determination and (ii)
Indemnitee shall have fulfilled his/her obligations set forth in the second
sentence of Section 7(b), then Indemnitee shall be deemed to have satisfied the
applicable standard of conduct; provided that such 30-day period may be extended
for a reasonable time, not to exceed an additional 30 days, if the person or
persons making such determination in good faith requires such additional time
for the obtaining or evaluation or documentation and/or information relating
thereto.

                  (d) If (i) Indemnitee shall be entitled to indemnification
hereunder against any Indemnifiable Losses pursuant to Section 7(a), (ii) no
determination of whether Indemnitee has satisfied any applicable standard of
conduct under Delaware law is a legally required condition precedent to
indemnification of Indemnitee hereunder against any Indemnifiable Losses, or
(iii) Indemnitee has been determined or deemed pursuant to Section 7(b) or (c)
to have satisfied any applicable standard of conduct under Delaware law which is
a legally required condition precedent to indemnification of Indemnitee
hereunder against any Indemnifiable Losses, then the Company shall pay to
Indemnitee, within five business days after the later of (x) the Notification
Date in respect of the Indemnifiable Claim or portion thereof to which such
Indemnifiable Losses are related, out of which such Indemnifiable Losses arose
or from which such Indemnifiable Losses resulted and (y) the earliest date on
which the applicable criterion specified in clause (i), (ii) or (iii) above
shall have been satisfied, an amount equal to the amount of such Indemnifiable
Losses.

                  (e) If a Standard of Conduct Determination is to be made by
Independent Counsel pursuant to Section 7(b)(i), the Independent Counsel shall
be selected by the Board of Directors, and the Company shall give written notice
to Indemnitee advising him or her of the identity of the Independent Counsel so
selected. If a Standard of Conduct Determination is to be

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made by Independent Counsel pursuant to Section 7(b)(ii), the Independent
Counsel shall be selected by Indemnitee, and Indemnitee shall give written
notice to the Company advising it of the identity of the Independent Counsel so
selected. In either case, Indemnitee or the Company, as applicable, may, within
five business days after receiving written notice of selection from the other,
deliver to the other 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 satisfy the criteria set forth in the definition of
"Independent Counsel" in Section 1(h), and the objection shall set forth with
particularity the factual basis of such assertion. Absent a proper and timely
objection, the person or firm so selected shall act as Independent Counsel. If
such written objection is properly and timely made and substantiated, (i) the
Independent Counsel so selected may not serve as Independent Counsel unless and
until such objection is withdrawn or a court has determined that such objection
is without merit and (ii) the non-objecting party may, at its option, select an
alternative Independent Counsel and give written notice to the other party
advising such other party of the identity of the alternative Independent Counsel
so selected, in which case the provisions of the two immediately preceding
sentences and clause (i) of this sentence shall apply to such subsequent
selection and notice. If applicable, the provisions of clause (ii) of the
immediately preceding sentence shall apply to successive alternative selections.
If no Independent Counsel that is permitted under the foregoing provisions of
this Section 7(e) to make the Standard of Conduct Determination shall have been
selected within 30 days after the Company gives its initial notice pursuant to
the first sentence of this Section 7(e) or Indemnitee gives its initial notice
pursuant to the second sentence of this Section 7(e), as the case may be, either
the Company or Indemnitee may petition the Court of Chancery of the State of
Delaware 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 or firm selected by the Court
or by such other person as the Court shall designate, and the person or firm
with respect to whom all objections are so resolved or the person or firm so
appointed will act as Independent Counsel. In all events, the Company shall pay
all of the reasonable fees and expenses of the Independent Counsel incurred in
connection with the Independent Counsel's determination pursuant to Section
7(b).

         8. PRESUMPTION OF ENTITLEMENT. In making any Standard of Conduct
Determination, the person or persons making such determination shall presume
that Indemnitee has satisfied the applicable standard of conduct, and the
Company may overcome such presumption only by its adducing clear and convincing
evidence to the contrary. Any Standard of Conduct Determination that is adverse
to Indemnitee may be challenged by the Indemnitee in the Court of Chancery of
the State of Delaware. No determination by the Company (including by its
directors or any Independent Counsel) that Indemnitee has not satisfied any
applicable standard of conduct shall be a defense to any Claim by Indemnitee for
indemnification or reimbursement or advance payment of Expenses by the Company
hereunder or create a presumption that Indemnitee has not met any applicable
standard of conduct.

         9. NO OTHER PRESUMPTION. For purposes of this Agreement, the
termination of any Claim by judgment, order, settlement (whether with or without
court approval) or conviction, or upon a plea of nolo contendere or its
equivalent, will not create a presumption that Indemnitee did not meet any
applicable standard of conduct or that indemnification hereunder is otherwise
not permitted.

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         10. NON-EXCLUSIVITY. The rights of Indemnitee hereunder will be in
addition to any other rights Indemnitee may have under the Constituent
Documents, or the substantive laws of the Company's jurisdiction of
incorporation, any other contract or otherwise (collectively, "OTHER INDEMNITY
PROVISIONS"); provided, however, that (a) to the extent that Indemnitee
otherwise would have any greater right to indemnification under any Other
Indemnity Provision, Indemnitee will be deemed to have such greater right
hereunder and (b) to the extent that any change is made to any Other Indemnity
Provision which permits any greater right to indemnification than that provided
under this Agreement as of the date hereof, Indemnitee will be deemed to have
such greater right hereunder. The Company will not adopt any amendment to any of
the Constituent Documents the effect of which would be to deny, diminish or
encumber Indemnitee's right to indemnification under this Agreement or any Other
Indemnity Provision.

         11. LIABILITY INSURANCE AND FUNDING. For the duration of Indemnitee's
service as a director and/or officer of the Company, and thereafter for so long
as Indemnitee shall be subject to any pending or possible Indemnifiable Claim,
the Company shall use commercially reasonable efforts (taking into account the
scope and amount of coverage available relative to the cost thereof) to cause to
be maintained in effect policies of directors' and officers' liability insurance
providing coverage for directors and/or officers of the Company that is at least
substantially comparable in scope and amount to that provided by the Company's
current policies of directors' and officers' liability insurance. The Company
shall provide Indemnitee with a copy of all directors' and officers' liability
insurance applications, binders, policies, declarations, endorsements and other
related materials, and shall provide Indemnitee with a reasonable opportunity to
review and comment on the same. Without limiting the generality or effect of the
two immediately preceding sentences, the Company shall not discontinue or
significantly reduce the scope or amount of coverage from one policy period to
the next (i) without the prior approval thereof by a majority vote of the
Incumbent Directors, even if less than a quorum, or (ii) if at the time that any
such discontinuation or significant reduction in the scope or amount of coverage
is proposed there are no Incumbent Directors, without the prior written consent
of Indemnitee (which consent shall not be unreasonably withheld or delayed). In
all policies of directors' and officers' liability insurance obtained by the
Company, Indemnitee shall be named as an insured in such a manner as to provide
Indemnitee the same rights and benefits, subject to the same limitations, as are
accorded to the Company's directors and officers most favorably insured by such
policy. The Company may, but shall not be required to, create a trust fund,
grant a security interest or use other means, including without limitation a
letter of credit, to ensure the payment of such amounts as may be necessary to
satisfy its obligations to indemnify and advance expenses pursuant to this
Agreement.

         12. SUBROGATION. In the event of payment under this Agreement, the
Company shall be subrogated to the extent of such payment to all of the related
rights of recovery of Indemnitee against other persons or entities (other than
Indemnitee's successors), including any entity or enterprise referred to in
clause (i) of the definition of "Indemnifiable Claim" in Section 1(f).
Indemnitee shall execute all papers reasonably required to evidence such rights
(all of Indemnitee's reasonable Expenses, including attorneys' fees and charges,
related thereto to be reimbursed by or, at the option of Indemnitee, advanced by
the Company).

         13. NO DUPLICATION OF PAYMENTS. The Company shall not be liable under
this Agreement to make any payment to Indemnitee in respect of any Indemnifiable
Losses to the extent Indemnitee has otherwise actually received payment (net of
any unreimbursed Expenses

                                       10
<PAGE>

of the Indemnitee incurred in connection therewith) under any insurance policy,
the Constituent Documents and Other Indemnity Provisions or otherwise (including
from any entity or enterprise referred to in clause (i) of the definition of
"Indemnifiable Claim" in Section 1(f)) in respect of such Indemnifiable Losses
otherwise indemnifiable hereunder.

         14. DEFENSE OF CLAIMS. The Company shall be entitled to participate in
the defense of any Indemnifiable Claim or to assume the defense thereof, with
counsel reasonably satisfactory to the Indemnitee; provided that if Indemnitee
believes, after consultation with counsel selected by Indemnitee, that (a) the
use of counsel chosen by the Company to represent Indemnitee would present such
counsel with an actual or potential conflict, (b) the named parties in any such
Indemnifiable Claim (including any impleaded parties) include both the Company
and Indemnitee and Indemnitee shall conclude that there may be one or more legal
defenses available to him or her that are different from or in addition to those
available to the Company, or (c) any such representation by such counsel would
be precluded under the applicable standards of professional conduct then
prevailing, then Indemnitee shall be entitled to retain separate counsel (but
not more than one law firm plus, if applicable, local counsel in respect of any
particular Indemnifiable Claim) at the Company's expense. The Company shall not
be liable to Indemnitee under this Agreement for any amounts paid in settlement
of any threatened or pending Indemnifiable Claim effected without the Company's
prior written consent. The Company shall not, without the prior written consent
of the Indemnitee, effect any settlement of any threatened or pending
Indemnifiable Claim to which the Indemnitee is, or could have been, a party
unless such settlement solely involves the payment of money and includes a
complete and unconditional release of the Indemnitee from all liability on any
claims that are the subject matter of such Indemnifiable Claim. Neither the
Company nor Indemnitee shall unreasonably withhold its consent to any proposed
settlement; provided that Indemnitee may withhold consent to any settlement that
does not provide a complete and unconditional release of Indemnitee.

         15. SUCCESSORS AND BINDING AGREEMENT. (a) The Company shall require any
successor (whether direct or indirect, by purchase, merger, consolidation,
reorganization or otherwise) to all or substantially all of the business or
assets of the Company, by agreement in form and substance satisfactory to
Indemnitee and his or her counsel, expressly to assume and agree to perform this
Agreement in the same manner and to the same extent the Company would be
required to perform if no such succession had taken place. This Agreement shall
be binding upon and inure to the benefit of the Company and any successor to the
Company, including without limitation any person acquiring directly or
indirectly all or substantially all of the business or assets of the Company
whether by purchase, merger, consolidation, reorganization or otherwise (and
such successor will thereafter be deemed the "COMPANY" for purposes of this
Agreement), but shall not otherwise be assignable or delegatable by the Company.

                  (b) This Agreement shall inure to the benefit of and be
enforceable by the Indemnitee's personal or legal representatives, executors,
administrators, heirs, distributees, legatees and other successors.

                  (c) This Agreement is personal in nature and neither of the
parties hereto shall, without the consent 9 of the other, assign or delegate
this Agreement or any rights or obligations hereunder except as expressly
provided in Sections 15(a) and 15(b). Without limiting the generality or effect
of the foregoing, Indemnitee's right to receive payments hereunder shall not be
assignable, whether by pledge, creation of a security interest or otherwise,

                                       11
<PAGE>

other than by a transfer by the Indemnitee's will or by the laws of descent and
distribution, and, in the event of any attempted assignment or transfer contrary
to this Section 15(c), the Company shall have no liability to pay any amount so
attempted to be assigned or transferred.

         16. NOTICES. For all purposes of this Agreement, all communications,
including without limitation notices, consents, requests or approvals, required
or permitted to be given hereunder shall be in writing and shall be deemed to
have been duly given when hand delivered or dispatched by electronic facsimile
transmission (with receipt thereof orally confirmed), or five business days
after having been mailed by United States registered or certified mail, return
receipt requested, postage prepaid or one business day after having been sent
for next-day delivery by a nationally recognized overnight courier service,
addressed to the Company (to the attention of the Secretary of the Company) and
to Indemnitee at the applicable address shown on the signature page hereto, or
to such other address as any party may have furnished to the other in writing
and in accordance herewith, except that notices of changes of address will be
effective only upon receipt.

         17. GOVERNING LAW. The validity, interpretation, construction and
performance of this Agreement shall be governed by and construed in accordance
with the substantive laws of the State of Delaware, without giving effect to the
principles of conflict of laws of such State. The Company and Indemnitee each
hereby irrevocably consent to the jurisdiction of the Chancery Court of the
State of Delaware for all purposes in connection with any action or proceeding
which arises out of or relates to this Agreement and agree that any action
instituted under this Agreement shall be brought only in the Chancery Court of
the State of Delaware.

         18. VALIDITY. If any provision of this Agreement or the application of
any provision hereof to any person or circumstance is held invalid,
unenforceable or otherwise illegal, the remainder of this Agreement and the
application of such provision to any other person or circumstance shall not be
affected, and the provision so held to be invalid, unenforceable or otherwise
illegal shall be reformed to the extent, and only to the extent, necessary to
make it enforceable, valid or legal. In the event that any court or other
adjudicative body shall decline to reform any provision of this Agreement held
to be invalid, unenforceable or otherwise illegal as contemplated by the
immediately preceding sentence, the parties hereto shall take all such action as
may be necessary or appropriate to replace the provision so held to be invalid,
unenforceable or otherwise illegal with one or more alternative provisions that
effectuate the purpose and intent of the original provisions of this Agreement
as fully as possible without being invalid, unenforceable or otherwise illegal.

         19. MISCELLANEOUS. No provision of this Agreement may be waived,
modified or discharged unless such waiver, modification or discharge is agreed
to in writing signed by Indemnitee and the Company. No waiver by either party
hereto at any time of any breach by the other party hereto or compliance with
any condition or provision of this Agreement to be performed by such other party
shall be deemed a waiver of similar or dissimilar provisions or conditions at
the same or at any prior or subsequent time. No agreements or representations,
oral or otherwise, expressed or implied with respect to the subject matter
hereof have been made by either party that are not set forth expressly in this
Agreement.

         20. LEGAL FEES AND EXPENSES. It is the intent of the Company that
Indemnitee not be required to incur legal fees and or other Expenses associated
with the interpretation, exercise,

                                       12
<PAGE>

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 Indemnitee hereunder. Accordingly,
without limiting the generality or effect of any other provision hereof, the
Company irrevocably authorizes the Indemnitee from time to time to retain
counsel of Indemnitee's choice, at the expense of the Company as hereafter
provided, to advise and represent Indemnitee in connection with any such
interpretation, exercise, enforcement or defense, including without limitation
the initiation or defense of any litigation or other legal action, whether by or
against the Company or any director, officer, stockholder or other person
affiliated with the Company. Notwithstanding any existing or prior
attorney-client relationship between the Company and such counsel, the Company
irrevocably consents to Indemnitee's entering into an attorney-client
relationship with such counsel, and in that connection the Company and
Indemnitee agree that a confidential relationship shall exist between Indemnitee
and such counsel. Without respect to whether Indemnitee prevails, in whole or in
part, in connection with any of the foregoing, the Company will pay and be
solely financially responsible for any and all attorneys' and related fees and
expenses incurred by Indemnitee in connection with any of the foregoing.

         21. CERTAIN INTERPRETIVE MATTERS. Unless the context of this Agreement
otherwise requires, (a) "it" or "its" or words of any gender include each other
gender, (b) words using the singular or plural number also include the plural or
singular number, respectively, (c) the terms "hereof," "herein," "hereby" and
derivative or similar words refer to this entire Agreement, (d) references to
"Sections" are references to "Sections" of this Agreement, (e) the terms
"include," "includes" and "including" will be deemed to be followed by the words
"without limitation" (whether or not so expressed), and (f) the word "or" is
disjunctive but not exclusive. Whenever this Agreement refers to a number of
days, such number will refer to calendar days unless business days are specified
and whenever action must be taken (including the giving of notice or the
delivery of documents) under this Agreement during a certain period of time or
by a particular date that ends or occurs on a non-business day, then such period
or date will be extended until the immediately following business day. As used
herein, "business day" means any day other than Saturday, Sunday or a United
States federal holiday.

         22. COUNTERPARTS. This Agreement may be executed in one or more
counterparts, each of which will be deemed to be an original but all of which
together shall constitute one and the same agreement.

                      [SIGNATURES APPEAR ON FOLLOWING PAGE]

                                       13
<PAGE>

         IN WITNESS WHEREOF, Indemnitee has executed and the Company has caused
its duly authorized representative to execute this Agreement as of the date
first above written.

                                        ALON USA ENERGY, INC.
                                        7616 LBJ Freeway, Suite 300
                                        Dallas, Texas 75251

                                        By:
                                            ------------------------------------

                                            Name:

                                            Title:

                                        ----------------------------------------
                                        Name:

                                        Address:

                                       14exv10w01

 

EXHIBIT 10.01

	 
	

P.O. Box 7850

Mountain View CA 94039-7850

May 10, 2005

Robert B. Henske

Employment Agreement

Dear Brad:

          On behalf of Intuit Inc. (“Intuit” or the “Company”), congratulations on your promotion to the
position of Senior Vice President/General Manager, Consumer Tax Group. The terms of your
employment are as follows:

          1. Position. Beginning May 5, 2005 (the “Commencement Date”) you assumed the title
and role of Intuit’s Senior Vice President/General Manager, Consumer Tax Group and continuing
thereafter until termination pursuant to Section 8. You currently serve Intuit as its Senior Vice
President, Chief Financial Officer and its principal financial officer, and will continue to hold
this title and role until your replacement for this position has commenced service with the
Company. You will continue to report to the President and Chief Executive Officer of Intuit. In
connection with this promotion, you will begin to work from Intuit’s San Diego office. You will
continue to be expected to devote your full working time and attention to the business of Intuit,
and you will not render services to any other business without the prior approval of the Board of
Directors or, directly or indirectly, engage or participate in any business that is competitive in
any manner with the business of Intuit. You will also be expected to comply with and be bound by
the Company’s operating policies, procedures and practices that are from time to time in effect
during the term of your employment.

          2. Base Salary. Your base salary will be increased to $560,000 per year, payable in
accordance with Intuit’s normal payroll practices with such payroll deductions and withholdings as
are required by law. Your base salary will be reviewed on a fiscal year basis and increased from
time to time, but such compensation shall not be reduced below $560,000 during your term of
employment.

          3. Bonus.

               You will continue to be eligible to participate in Intuit’s Performance Incentive Plan (the “IPI”). Your target for your annual IPI bonus will continue to be set at 60% of your annual base
salary (the “Target Bonus”).

          4. Deferred Compensation Plan Contributions.

               (a) If you are employed by Intuit on January 3, 2006, Intuit will make a fully vested employer
contribution of $350,000 on your behalf to the Intuit Inc. 2005 Executive Deferred Compensation
Plan (the “NQDCP”) within thirty days thereafter.

 

 

You will not be entitled to this contribution if your Intuit employment terminates prior to
January 3, 2006.

               (b) In accordance with the terms and conditions of the NQDCP, you will be able to elect to
have these contributions credited with earnings pursuant to the investment alternatives offered
under the NQDCP and elect when to take distribution of these contributions and any earnings
credited thereon.

          5. Stock Awards.

               (a) You remain eligible to be granted stock options and other equity-based awards from time to
time as determined by the Compensation and Organizational Development Committee of the Board of
Directors.

               (b) You were granted a nonqualified stock option for 400,000 shares on January 3, 2003 (the
“Option”) under the Intuit Inc. 2002 Equity Incentive Plan (the “2002 Plan”) with Intuit’s standard
three year vesting schedule which provides that 33-1/3% of the shares subject to the Option vested
and became exercisable on January 3, 2004, and 2.778% of the shares subject to the Option vest and
become exercisable on each January 3rd thereafter. Notwithstanding the foregoing
vesting schedule for the Option, in the event of your Termination Following a Change in Control, an
Involuntary Termination or Termination without Cause and in accordance with Sections 10(b) and
10(c) below, you will have immediate acceleration of the vesting and exercisability of the Option
by that portion of the shares subject to the Option that would have vested and become exercisable
in the eighteen (18) full calendar months following the effective date of such termination. In the
event that your employment terminates, the unvested portion of the Option will terminate and you
will have six months following the date of your termination of employment in which to exercise the
then vested portion of your Option. At the end of the six months any vested portion of the Option
that you have not yet exercised will terminate. As provided in the 2002 Plan, that
post-termination exercise period for the Option will be twelve months in the event your employment
terminates due to your disability and eighteen months if your employment terminates due to your
death. You should consult a tax advisor concerning your income tax consequences before exercising
any of the Option. Intuit has registered the shares issuable under options granted under the 2002
Plan on a Form S-8 registration statement and shall keep such registration statement in effect for
the entire period the Option remains outstanding.

          6. Relocation Benefits. You will receive a monthly relocation stipend of $5,000, net
of federal, state and local income and employment taxes, for twelve months (or earlier termination
of your employment). At the end of the twelve month period, Intuit will in good faith review this
monthly relocation stipend for the following twelve months.

          7. Other Benefits. Your eligibility for health insurance, 401(k), employee stock
purchase plan, vacation accrual and for other benefits generally offered to all Intuit senior
executives of similar rank and status remains unchanged.

          8. Employment and Termination. Your employment with Intuit will be at-will and may be
terminated at any time for any reason as follows:

2

 

               (a) You may terminate your employment upon written notice to the President and Chief Executive
Officer of Intuit at any time for “Good Reason,” as defined below (an “Involuntary Termination”);

               (b) You may terminate your employment upon written notice to the President and Chief Executive
Officer of Intuit at any time in your discretion without Good Reason (“Voluntary Termination”);

               (c) Intuit may terminate your employment upon written notice to you at any time following a
determination by two-thirds (2/3) vote of the entire Board of Directors that there is “Cause,” as
defined below, for such termination (“Termination for Cause”);

               (d) Intuit may terminate your employment upon written notice to you at any time in the sole
discretion of two-thirds (2/3) of the entire Board of Directors without a determination that there
is Cause for such termination (“Termination without Cause”);

               (e) Your employment will automatically terminate upon your death or upon your disability as
determined by the Board of Directors (“Termination for Death or Total Disability”); provided that
“total disability” shall mean that for a period of one hundred eighty (180) days (A)(i) for so long
as such definition is used for purposes of Intuit’s group life insurance and accidental death and
dismemberment plan or group or long term disability plan, that you are unable to perform each of
the material duties of any gainful occupation for which you are or become reasonably fitted by
training, education or experience and which total disability is in fact preventing you from
engaging in any employment or occupation for wage or profit; or (ii) if such definition has
changed, such other definition of “total disability” as determined under Intuit’s group life
insurance and accidental death and dismemberment plan or group long term disability plan; and (B)
Intuit shall have received from your primary care physician a certificate that your total
disability is likely to be permanent.

               (f) During the one year following a Change in Control, (i) if you are not a Section 16
Officer of the surviving entity or acquirer that results from any Change in Control or (2) your
employment terminates other than for a Voluntary Termination, Termination for Death or Total
Disability, or Termination for Cause (a “Termination Following a Change in Control”).

          9. Definitions. As used in this agreement, the following terms have the following
meanings:

               (a) “Good Reason” means (i) a reduction in your title or a material reduction in your duties
or responsibilities that is inconsistent with your position as Senior Vice President or a change in
your relationship such that you no longer report directly to the Chief Executive Officer; (ii) any
reduction in your base annual salary or target bonus opportunity (other than in connection with a
general decrease in the salary or target bonuses for all officers of Intuit) without your consent
or material breach by Intuit of any of its obligations hereunder after providing Intuit with
written notice within seven

3

 

days of such breach and an opportunity to cure; (iii) failure of any successor to assume this
agreement pursuant to Section 15(d) below; or (iv) a requirement by Intuit that you relocate your
principal office to a facility more than 50 miles from Intuit’s current headquarters or its San
Diego office.

               (b) “Cause” means (i) gross negligence or willful misconduct in the performance of your duties
to Intuit (other than as a result of a disability) that has resulted or is likely to result in
substantial and material damage to Intuit, after a demand for substantial performance is delivered
to you by the Chief Executive Officer which specifically identifies the manner in which you have
not substantially performed your duties and you have been provided with a reasonable opportunity to
cure any alleged gross negligence or willful misconduct; (ii) commission of any act of fraud with
respect to Intuit; or (iii) conviction of a felony or a crime involving moral turpitude causing
material harm to the business and affairs of Intuit. No act or failure to act by you shall be
considered “willful” if done or omitted by you in good faith with reasonable belief that your
action or omission was in the best interests of Intuit.

               (c) “Change in Control” means (i) any person or entity becoming the beneficial owner, directly
or indirectly, of securities of Intuit representing fifty (50%) percent of the total voting power
of all its then outstanding voting securities, (ii) a merger or consolidation of Intuit in which
its voting securities immediately prior to the merger or consolidation do not represent, or are not
converted into securities that represent, a majority of the voting power of all voting securities
of the surviving entity immediately after the merger or consolidation, (iii) a sale of
substantially all of the assets of Intuit or a liquidation or dissolution of Intuit, or (iv)
individuals who, as of the Commencement Date, constitute the Board of Directors (the “Incumbent
Board”) cease for any reason to constitute at least a majority of such Board; provided that any
individual who becomes a director of Intuit subsequent to the Commencement Date, whose election, or
nomination for election by Intuit stockholders, was approved by the vote of at least a majority of
the directors then in office shall be deemed a member of the Incumbent Board.

          10. Separation Benefits. Upon termination of your employment with Intuit for any
reason, you will receive payment for all unpaid salary and vacation accrued to the date of your
termination of employment; and your benefits will be continued under Intuit’s then existing benefit
plans and policies for so long as provided under the terms of such plans and policies and as
required by applicable law. Under certain circumstances and conditioned upon your execution of a
release and waiver of claims against the Company, its officers and directors, you will also be
entitled to receive severance benefits as set forth below, but you will not be entitled to any
other compensation, award or damages with respect to your employment or termination.

               (a) In the event of your Voluntary Termination or Termination for Cause, you will not be
entitled to any severance benefits.

               (b) In the event of your Involuntary Termination or Termination without Cause, conditioned
upon your execution of a release and waiver of claims against the Company, its officers and
directors in a form acceptable to the Company, you will be entitled to (i) a single lump sum
severance payment equal to eighteen (18) months of

4

 

your current annual base salary and one and one-half times your Target Bonus for the then
current fiscal year (less applicable deductions and withholdings) payable within 30 days after the
effective date of your termination (or six months after the effective date of your termination if
required to avoid the additional tax and interest of Section 409A of the Internal Revenue Code of
1986, as amended (“Section 409A”)); and (ii) immediate acceleration of the vesting and
exercisability of the option granted to you on January 3, 2003 (the “Option”) by that portion of
the shares subject to the Option that would have vested and become exercisable in the eighteen (18)
full calendar months following the effective date of such termination.

               (c) In the event of your Termination Following a Change in Control, conditioned upon your
execution of a release and waiver of claims against the Company, its officers and directors in a
form acceptable to the Company, you will be entitled to (i) a single lump sum severance payment
equal to eighteen (18) months of your current annual base salary and one and one-half times your
Target Bonus for the then current fiscal year (less applicable deductions and withholdings) payable
within thirty (30) days after the effective date of your termination (or six months after the
effective date of your termination if required to avoid the additional tax and interest of Section
409A); and (ii) immediate acceleration of the vesting and exercisability of the Option by that
portion of the shares subject to the Option that would have vested and become exercisable in the
eighteen (18) full calendar months following the effective date of such termination.

               (d) If your severance benefits provided for in this Section 10 constitute “parachute payments”
within the meaning of Section 280G of the Code and, but for this subsection, would be subject to
the excise tax imposed by Section 4999 of the Internal Revenue Code, then your severance benefits
under this Section 10 will be payable, at your election, either in full or in such lesser amount as
would result, after taking into account the applicable federal, state and local income taxes and
the excise tax imposed by Section 4999, in your receipt on an after-tax basis of the greatest
amount of severance and other benefits.

               (e) No payments due you hereunder shall be subject to mitigation or offset.

          11. Indemnification Agreement. Intuit remains subject to its standard form of
indemnification agreement for officers and directors which was entered into with you effective
January 6, 2003 to indemnify you against certain liabilities you may incur as an officer or
director of Intuit.

          12. Confidential Information and Invention Assignment Agreement. You remain subject
to the Employee Invention Assignment and Confidentiality Agreement which you signed when you
commenced employment with Intuit.

          13. Nonsolicitation. During the term of your employment with Intuit and for one year
thereafter, you will not, on behalf of yourself or any third party, solicit or attempt to induce
any employee of Intuit to terminate his or her employment with Intuit.

5

 

          14. Arbitration. The parties agree that any dispute regarding the interpretation or
enforcement of this agreement shall be decided by confidential, final and binding arbitration
conducted by Judicial Arbitration and Mediation Services (“JAMS”) under the then existing JAMS
rules rather than by litigation in court, trial by jury, administrative proceeding or in any other
forum.

          15. Miscellaneous.

               (a) Authority to Enter into Agreement. Intuit represents that its President and Chief
Executive Officer has due authority to execute and deliver this agreement on behalf of Intuit.

               (b) Absence of Conflicts. You represent that on the Commencement Date your
performance of your duties under this agreement will not breach any other agreement as to which you
are a party.

               (c) Attorneys Fees. If a legal action or other proceeding is brought for enforcement
of this agreement because of an alleged dispute, breach, default, or misrepresentation in
connection with any of the provisions of this agreement, the successful or prevailing party shall
be entitled to recover reasonable attorneys’ fees and costs incurred, both before and after
judgment, in addition to any other relief to which they may be entitled.

               (d) Successors. This agreement is binding on and may be enforced by Intuit and its
successors and assigns and is binding on and may be enforced by you and your heirs and legal
representatives. Any successor to Intuit or substantially all of its business (whether by
purchase, merger, consolidation or otherwise) will in advance assume in writing and be bound by all
of Intuit’s obligations under this agreement.

               (e) Notices. Notices under this agreement must be in writing and will be deemed to
have been given when personally delivered or two days after mailed by U.S. registered or certified
mail, return receipt requested and postage prepaid. Mailed notices to you will be addressed to you
at the home address which you have most recently communicated to Intuit in writing, with a copy to
legal counsel you designate. Notices to Intuit will be addressed to its General Counsel at
Intuit’s corporate headquarters.

               (f) Waiver. No provision of this agreement will be modified or waived except in
writing signed by you and an officer of Intuit duly authorized by its Board of Directors. No
waiver by either party of any breach of this agreement by the other party will be considered a
waiver of any other breach of this agreement.

               (g) Entire Agreement. This agreement, including the Employee Invention Assignment and
Confidentiality Agreement and your indemnification agreement with Intuit, represents the entire
agreement between us concerning the subject matter of your employment by Intuit and entirely
supersedes, except to the extent expressly noted elsewhere herein, the terms and conditions of that
certain Employment Agreement (the “2002 Agreement”) between you and Intuit that was accepted by you
on December 30, 2002. By executing this Agreement you specifically agree that these

6

 

changes in title and responsibilities do not constitute an event constituting Good Reason (as
defined in the 2002 Agreement) and therefore, there has been no Involuntary Termination (as defined
in the 2002 Agreement), nor a Termination without Cause (as defined in the 2002 Agreement) and you
have no right to any of the benefits provided under the 2002 Agreement.

               (h) Governing Law. This agreement will be governed by the laws of the State of
California without reference to conflict of laws provisions.

          Brad, we look forward to your continuing success with Intuit in this new capacity. Please
indicate your acceptance of the terms of this agreement by signing in the place indicated below.

Very truly yours,

	 	 	 	 	 
	/s/ STEVE BENNETT

	 	 	 	/s/ ROBERT HENSKE
	 

	 	 	 	 
	Steve Bennett

	 	 	 	Robert “Brad” Henske
	President and Chief Executive Officer,
	 	 	 	 
	Intuit Inc.
	 	 	 	 
	 
	 	 	 	 
	

	 	 	 	Accepted May 10, 2005

7

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