Document:

exv10w09

 

Exhibit 10.09

ORACLE CORPORATION

DIRECTORS STOCK OPTION GRANT

	 	 	 
	Optionee:

	 	Number of Shares:
	Address:

	 	Exercise Price per Share:
	 
	 	 
	Grant Date:

	 	Grant No:
	Expiration Date:

	 	ID No:

     Oracle Corporation, a Delaware corporation (the “Company”), hereby grants
to the optionee named above (“Optionee”) a non-qualified stock option (this
“Option”) to purchase the total number of shares of common stock of the Company
set forth above (the “Shares”) at the exercise price per share set forth above
(the “Exercise Price”), subject to all of the terms and conditions attached
hereto and incorporated herein by reference (which, together with this page,
shall constitute the “Grant”), and subject to the terms and conditions of the
Company’s Amended and Restated 1993 Directors’ Stock Plan (the “Plan”). Unless
otherwise defined herein, capitalized terms shall have the meanings ascribed to
them in the Plan.

     Subject to the terms and conditions of the Plan and this Grant, this
Option shall become exercisable as to portions of the Shares as follows:

      

					
	On or after (“Vest Date”):
	 	But before:
	 	Number of Shares
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

     The Company and Optionee hereby agree to the terms of this Grant.

	 	 	 
	ORACLE CORPORATION

	 	OPTIONEE
	 
	 	 
	 
	 	 
	

	 	

	(Authorized Signature)

	 	(Optionee’s Signature)
	Name:

	 	Name:
	Title:
	 	 

 

 

DIRECTORS STOCK OPTION GRANT

Terms and Conditions

	1.	 	Restrictions on Exercise. This Option may not be exercised (i) unless
such exercise is in compliance with the Securities Act of 1933, as amended
(the “Act”), and all applicable state securities laws as they are in
effect on the date of exercise, and the requirements of any stock exchange
or national market system on which the Company’s common stock may be
listed at the time of exercise, and (ii) until the Plan, or any required
increase in the number of Shares authorized under the Plan, is approved by
the Stockholders of the Company. Notwithstanding anything else in this
Grant or the Plan, this Option shall expire on the Expiration Date set
forth on the first page of this Grant and must be exercised, if at all, on
or before the Expiration Date. In addition, no part of this Option will
become exercisable prior to six (6) months following the Date of Grant.
	 
	2.	 	Termination of Option. Except as provided below in this Section, this
Option shall terminate and may not be exercised if Optionee ceases to be a
member of the Board of the Company (a “Board Member”). The Committee
shall have discretion to determine whether Optionee has ceased
to serve as
a Board Member and the effective date on which such service terminated
(the “Termination Date”).

a) Termination of Status as a Director. If an Optionee ceases to serve
as a Board Member, he or she may, but only within three (3) months after
the date he or she ceases to be a Board Member of the Company, exercise
his or her Option to the extent that he or she was entitled to exercise
it at the date of such termination. Notwithstanding the foregoing, in no
event may the Option be exercised after the Expiration Date. To the
extent that Optionee is not entitled to exercise an Option at the date of
such termination, or does not exercise such Option (which he or she is
entitled to exercise) within the time specified herein, the Option shall
terminate.

b) Disability of Board Member. Notwithstanding the provisions of
Section 2(a) above, in the event Optionee is unable to continue his or
her service as a Board Member with the Company as a result of his or her
total and permanent disability (as defined in Section 22(e)(3) of the
Internal Revenue Code of 1986, as amended (the “Code”)), Optionee may,
within six (6) months from the date of such termination, exercise his of
her Option to the extent such Optionee was entitled to exercise it at the
date of such termination. Notwithstanding the foregoing, in no event may
the Option be exercised after the Expiration Date. To the extent that
Optionee is not entitled to exercise the Option at the date of
termination, or if Optionee does not exercise such Option (which he is
entitled to exercise) within the time specified herein, the Option shall
terminate.

c) Death of Optionee. In the event of the death of Optionee:

          (i) If Optionee dies during the term of the Option, is a Board
Member at the time of death and has been in Continuous Status as a
Director (as defined in the Plan) since the date of grant of the Option,
the Option may be exercised at any time within six (6) months following
the date of death by the Optionee’s estate or by a person who acquired
the right to exercise the Option by bequest or inheritance, but only to
the extent the Optionee is entitled to exercise the Option at the time of
death. Notwithstanding the foregoing, in no event may the Option be
exercised after the Expiration Date.

          (ii) If Optionee dies within three (3) months after the termination
of Continuous Status as a Director, the Option may be exercised at any
time within six (6) months following the date

 

 

of death by the Optionee’s estate or by a person who acquired the right
to exercise the Option by bequest or inheritance, but only to the extent
the Optionee is entitled to exercise the Option at the date of
termination. Notwithstanding the foregoing, in no event may the Option
be exercised after the Expiration Date.

	3.	 	Manner of Exercise.

	 	a)	 	Exercise Agreement. This Option shall be exercisable by
delivery to the Company of an executed written Directors Stock
Option Exercise Agreement (the “Exercise Agreement”) in the form
attached hereto as Exhibit A, or in such other form as may be
approved by the Committee, which shall set forth Optionee’s election
to exercise some or all of the Option, the number of Shares being
purchased, any restrictions imposed on the Shares and such other
representations and agreements regarding Optionee’s investment
intent and access to information as may be required by the Company
to comply with applicable securities laws.
	 
	 	b)	 	Payment. Payment of the exercise price upon exercise of any
Option shall be made (i) by cash or check; (ii) provided that a
public market for the Company’s stock exists, through a “same day
sale” commitment from the Optionee and a broker-dealer that is a
member of the National Association of Securities Dealers (an “NASD
Dealer”) whereby Optionee irrevocably elects to exercise the Option
and to sell a portion of the Shares so purchased to pay for the
exercise price and whereby the NASD Dealer irrevocably commits upon
receipt of such Shares to forward the exercise price directly to the
Company; (iii) provided that a public market for the Company’s Stock
exists, through a “margin” commitment from the Optionee and an NASD
Dealer whereby the Optionee irrevocably elects to exercise the
Option and to pledge the Shares so purchased to the NASD Dealer in a
margin account as security for a loan from the NASD Dealer in the
amount of the exercise price, and whereby the NASD Dealer
irrevocably commits upon receipt of such Shares to forward the
exercise price directly to the Company; (iv) where permitted by
applicable law, by tender of a full recourse promissory note secured
by collateral other than the Shares having such terms as may be
approved by the Committee and bearing interest at a rate sufficient
to avoid imputation of income under Section 484 and 1274 of the
Code, provided that the portion of the exercise price equal to the
par value of the Shares must be paid in cash or other legal
consideration; or (v) in any combination of the foregoing.
	 
	 	c)	 	Withholding Taxes. Prior to the issuance of the Shares upon
exercise of this Option, the Optionee shall pay in cash any
applicable federal, state or local income and employment tax
withholding obligations of the Company, if applicable.
	 
	 	d)	 	Issuance of Shares. Provided that such notice and payment
are in form and substance satisfactory to counsel for the Company,
the Company shall issue the Shares registered in the name of
Optionee or Optionee’s legal representative.

	4.	 	Transferability of Option. This Option may not be transferred in any
manner other than (i) by will, or (ii) by the laws of descent and
distribution, provided however, a U.S. Optionee may transfer a vested
portion of the Option for no consideration to or for the benefit of one or
more members of the Optionee’s Immediate Family (including, without
limitation, to a trust for the benefit of the Optionee’s Immediate Family)
(a “Transferee”), subject to such limits as the Committee may establish,
and such Transferee shall remain subject to all the terms and conditions
applicable to the Option prior to such transfer. The Optionee will
continue to be treated as the holder of the Option for purposes of the
Company’s record keeping and for other purposes deemed appropriate by the
Company, including the right to consent to amendments to this Grant
Notice; notwithstanding that the economic benefits and dispositive control
has been transferred to the Transferee. Optionee

 

 

	 	 	agrees, on behalf of each Transferee, to exercise the Option upon the
direction and arrangement of payment by such transferee and further agrees
to forward all information provided by the Company (including but not
limited to those required under the U.S. securities laws) with respect to
the Option to the Transferee. In the discretion of the Committee, the
foregoing right to transfer shall apply to the right to transfer ancillary
rights associated with the Option. The term “Immediate Family” shall mean
the Optionee’s spouse, qualified same-sex domestic partner, parents,
children, stepchildren, adoptive relationships, sisters, brothers and
grandchildren (and, for this purpose, shall also include the Optionee).
Optionee acknowledges that the Optionee will continue to be liable for any
taxes incurred in connection with the exercise of the Option.
	 
	5.	 	Interpretation. Any dispute regarding the interpretation of this Grant
shall be submitted by Optionee or the Company forthwith to the Board or
the committee thereof that administers the Plan, which shall review such
dispute at its next regular meeting. The resolution of such a dispute by
the Board or committee shall be final and binding on the Company and on
Optionee.
	 
	6.	 	Optionee Acknowledgments. Optionee hereby acknowledges receipt of a copy
of the Plan, represents that Optionee has read and understands the terms
and conditions thereof, and accepts this Option subject to all the terms
and provisions of the Plan and this Grant. Optionee acknowledges that
there may be adverse tax consequences upon exercise of this Option or
disposition of the Shares and that Optionee should consult a tax advisor
prior to such exercise or disposition.
	 
	7.	 	Entire Agreement. The Plan and the Notice and Exercise Agreement are
incorporated herein by reference. This Grant, the Plan and the Exercise
Agreement constitute the entire agreement of the parties and supersede all
prior undertakings and agreements with respect to the subject matter
hereof.

 

 

EXHIBIT A

ORACLE CORPORATION

STOCK OPTION EXERCISE NOTICE AND AGREEMENT

	1.	 	Exercise of Option. I, the undersigned “Optionee,” hereby elect to
exercise my option to purchase                                shares of Common Stock
(“Shares”) of Oracle Corporation (the “Company”) under and pursuant to the
Company’s Amended and Restated 1993 Directors’ Stock Plan (the “Plan”),
and the Stock Option Grant dated                                (the “Grant”).
Exercise Price per Share:                     .
	 
	2.	 	Representation of the Optionee. I acknowledge that I have received, read
and understood the Plan, the Grant and the prospectus relating to the Plan
and agree to abide by and be bound by their terms and conditions.
	 
	3.	 	Compliance with Securities Laws. I understand and acknowledge that the
exercise of any rights to purchase Shares is expressly conditioned upon
compliance with the Securities Act of 1933, as amended, and all applicable
state securities laws. I agree to cooperate with the Company to ensure
compliance with such laws.
	 
	4.	 	Tax Consequences. I understand that I may suffer adverse tax
consequences as a result of my purchase or disposition of the Shares. I
represent that I have consulted with any tax consultant(s) that I deem
advisable in connection with the purchase or disposition of the Shares and
that I am not relying on the Company for any tax advice.
	 
	5.	 	Delivery and Payment. I herewith deliver to the Company the aggregate
purchase price of the Shares that are specified in the accompanying Oracle
Corporation Stock Option Exercise Form, and I have made provision for the
payment of any federal and state withholding taxes required to be paid or
withheld by the Company.
	 
	6.	 	Insider Trading. I acknowledge that I have received, read and understood
the Company’s policy against trading in Company stock while in the
possession of inside information (i.e., material nonpublic information).
I agree to sell or otherwise dispose of the Shares strictly in compliance
with this Company policy and all related securities laws.
	 
	7.	 	Proceeds. I understand that it is my responsibility to instruct the
broker where/how my proceeds should be distributed.
	 
	8.	 	Certificates. I understand that any certificate(s) representing shares
sold must be delivered directly to the broker.
	 
	9.	 	Entire Agreement. I acknowledge the following: The Plan and the Grant
are incorporated herein by reference; this Agreement, the Plan and the
Grant constitute my entire agreement with the Company and supersede all
prior undertaking and agreements between us with respect to the subject
matter hereof; this Agreement is governed by California law except for
that body of law pertaining to conflict of laws. Optionee agrees to
institute any legal action or legal proceeding relating to the Grant, the
Plan or this Agreement in state court in San Mateo County, California or
in federal court in San Francisco, California. Optionee agrees to submit
to the jurisdiction of and agrees that venue is proper in the aforesaid
courts in any such action or proceeding.

 

 

	 	 	 
	Optionee’s Name (please print):
	 	 
	

	 	

	 	 	 	 	 	 	 
	Optionee’s Signature:

	 	 	 	Date:exv10w10

 

Exhibit 10.10

INDEMNITY AGREEMENT

This Indemnity Agreement, effective as of                     , is made by and between
Oracle Corporation, a Delaware corporation with executive offices located at
500 Oracle Parkway, Redwood Shores, California, 94065 (the “Company”), and
                              , an [Title] of the Company residing at                                          (the
“Indemnitee”).

RECITALS

          A. The Company is aware that competent and experienced persons are
increasingly reluctant to serve as directors or officers of corporations unless
they are protected by comprehensive liability insurance or indemnification, due
to increased exposure to litigation costs and risks resulting from their
service to such corporations, and due to the fact that the exposure frequently
bears no reasonable relationship to the compensation of such directors and
officers;

          B. The statutes and judicial decisions regarding the duties of directors
and officers are often difficult to apply, ambiguous, or conflicting, and
therefore fail to provide such directors and officers with adequate, reliable
knowledge of legal risks to which they are exposed or information regarding the
proper course of action to take;

          C. Plaintiffs often seek damages in such large amounts and the costs of
litigation may be so substantial (whether or not the case is meritorious), that
the defense and/or settlement of such litigation is often beyond the personal
resources of officers and directors;

          D. The Company believes that it is unfair for its directors and officers
and the directors and officers of its subsidiaries to assume the risk of large
judgments and other expense that may be incurred in cases in which the director
or officer received no personal profit and in cases where the director or
officer was not culpable;

          E. The Company recognizes that the issues in controversy in litigation
against a director or officer of a corporation such as the Company or a
subsidiary of the Company are often related to the knowledge, motives and
intent of such director or officer, that he or she is usually the only witness
with knowledge of the essential facts and exculpating circumstances regarding
such matters and that the long period of time which usually elapses before the
trial or other disposition of which litigation often extends beyond the time
that the director or officer can reasonably recall such matters; and may extend
beyond the normal time for retirement or in the event of his or her death, his
or her spouse, heirs, executors or administrators, may be faced with limited
ability and undue hardship in maintaining an adequate defense, which may
discourage such a director or officer from serving in that position;

          F. Based upon their experience as business managers, the Board of
Directors of the Company (the “Board”) has concluded that, to retain and
attract talented and experienced individuals to serve as officers and directors
of the Company and its subsidiaries and to encourage such individuals to take
the business risks necessary for the success of the Company and its
subsidiaries, it is necessary for the Company to contractually indemnify its
officers and directors and the officers and directors of its subsidiaries, and
to assume for itself maximum liability for expenses and damages in connection
with claims against such officers and directors in connection with their
service to the Company and its subsidiaries, and has further concluded that the
failure to provide such contractual indemnification could result in great harm
to the Company and its subsidiaries and the Company’s stockholders;

          G. Section 145 of the General Corporation Law of Delaware, under which
the Company is organized (“Section 145”), empowers the Company to indemnify by
agreement its officers, directors, employees and agents, and persons who serve,
at the request of the Company, as directors, officers, employees or agents of
other corporations or enterprises, and expressly provides that the
indemnification provided by Section 145 is not exclusive;

          H. The Company, after reasonable investigation prior to the date hereof,
has determined that the liability insurance coverage available to the Company
and its subsidiaries as of the date hereof is inadequate and/or unreasonably
expensive. The Company believes, therefore, that the interest of the Company’s
stockholders would best be served by a combination of such insurance as the
Company may obtain, or request a subsidiary to obtain,

 

 

pursuant to the
Company’s obligations hereunder, and the indemnification by the Company of the
directors and officers of the Company and its subsidiaries;

          I. The Company desires and has requested the Indemnitee to serve or
continue to serve as a director or officer of the Company and/or the
subsidiaries of the Company free from undue concern for claims for damages
arising out of or related to such services to the Company and/or a subsidiary
of the Company; and

          J. The Indemnitee is willing to serve, or to continue to serve, the
Company and/or the subsidiaries of the Company, provided that he or she is
furnished the indemnity provided for herein.

AGREEMENT

NOW, THEREFORE, the parties hereto, intending to be legally bound,
hereby agree as follows:

1. Definitions.

(a) Agent. For the purposes of this Agreement, “agent” of the Company
means any person who is or was a director, officer, employee or other
agent of the Company or a subsidiary of the Company; or is or was
serving at the request of, for the convenience of or to represent the
interest of the Company or a subsidiary of the Company as a director,
officer, employee or agent of another foreign or domestic corporation,
partnership, joint venture, trust or other enterprise; or was a
director, officer, employee or agent of a foreign or domestic
corporation which was a predecessor corporation of the Company or a
subsidiary of the Company, or was a director, officer, employee or
agent of another enterprise at the request of, for the convenience of
or to represent the interests of such predecessor corporation.

(b) Expenses. For purposes of this Agreement, “expenses” includes all
direct and indirect costs of any type or nature whatsoever (including,
without limitation, all attorneys’ fees and related disbursements, and
other out-of-pocket costs) actually and reasonably incurred by the
Indemnitee in connection with either the investigation, defense or
appeal of a proceeding or establishing or enforcing a right to
indemnification under this Agreement, Section 145 or otherwise;
provided, however, that expenses shall not include any judgments,
fines, ERISA excise taxes or penalties or amounts paid in settlement
of a proceeding.

(c) Proceeding. For the purposes of this Agreement, “proceeding”
means any threatened, pending, or completed action, suit or other
proceeding, whether civil, criminal, administrative, investigative or
any other type whatsoever.

(d) Subsidiary. For purposes of this Agreement, “subsidiary” means any
corporation of which more than 50% of the outstanding voting
securities is owned directly or indirectly by the Company, by the
Company and one or more other subsidiaries, or by one or more other
subsidiaries.

2. Agreement to Serve. The Indemnitee agrees to serve and/or continue
to serve as an agent of the Company, at its will (or under separate
agreement, if such agreement exists), in the capacity the Indemnitee
currently serves as an agent of the Company, so long as he or she is
duly appointed or elected and qualified in accordance with the
applicable provisions of the Bylaws of the Company or any subsidiary
of the Company or until such time as he or she tenders his resignation
in writing or he or she is removed from such position, provided,
however, that nothing contained in this Agreement is intended to
create any right to continued employment by the Indemnitee.

 

 

3. Maintenance of Liability Insurance.

(a) The Company hereby covenants and agrees that, so long as the
Indemnitee shall continue to serve as an agent of the Company and
thereafter so long as the Indemnitee shall be subject to any possible
proceeding by reason of the fact that the Indemnitee was an agent of
the Company, the Company, subject to Section 3(b), shall use
reasonable efforts to obtain and maintain in full force and effect
directors’ and officers’ liability insurance (“D&O Insurance”) in
reasonable amounts from established and reputable insurers.

(b) Notwithstanding the foregoing, the Company shall have no
obligation to obtain or maintain D&O Insurance if the Company
determines in good faith that such insurance is not reasonably
available, the premium costs for such insurance are disproportionate
to the amount of coverage provided, the coverage is reduced by
exclusions so as to provide an insufficient benefit, or the Indemnitee
is covered by similar insurance maintained by a subsidiary of the
Company.

4. Mandatory Indemnification. The Company shall indemnify the
Indemnitee from:

(a) Third Party Actions. If the Indemnitee is a person who was or is a
party or is threatened to be made a party to any proceeding (other
than an action by or in the right of the Company) by reason of the
fact that he or she is or was an agent of the Company, or by reason of
anything done or not done by him or her in any such capacity, against
any and all expenses and liabilities of any type whatsoever
(including, but not limited to, judgments, fines, ERISA excise taxes
or penalties, and amounts paid in settlement) actually and reasonably
incurred by him or her in connection with the investigation, defense,
settlement or appeal of such proceeding if he or she 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, and, with respect to any
criminal action or proceeding, had no reasonable cause to believe his
or her conduct was unlawful; and

(b) Derivative Actions. If the Indemnitee is a person who was or is a
party or is threatened to be made a party to any proceeding by or in
the right of the Company to procure a judgment in its favor by reason
of the fact that he or she is or was an agent of the Company, or by
reason of anything done or not done by him or her in any such
capacity, against any amounts paid in settlement of any such
proceeding and all expenses actually and reasonably incurred by him or
her in connection with the investigation, defense, settlement, or
appeal of such proceeding if he or she 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; except that no indemnification under
this subsection shall be made in respect of any claim, issue or matter
as to which such person shall have been finally adjudged to be liable
to the Company after the time for an appeal has expired by a court of
competent jurisdiction due to willful misconduct of a culpable nature
in the performance of his or her duty to the Company unless and only
to the extent that the Court of Chancery or the court in which such
proceeding was brought shall determine upon application that, despite
the adjudication of liability but in view of all the circumstances of
the case, such person is fairly and reasonably entitled to indemnity
for such amounts which the Court of Chancery or such other court shall
deem proper; and

(c) Actions Where Indemnitee is Deceased. If the Indemnitee is a
person who was or is a party or is threatened to be made a party to
any proceeding by reason of the fact that he or she is or was an agent
of the Company, or by reason of anything done or not done by him or
her in any such capacity, against any and all expenses and liabilities
of any type whatsoever (including, but not limited to, judgments,
fines, ERISA excise taxes or penalties, and amounts paid in
settlement) actually and reasonably incurred by him or her in
connection with the investigation, defense, settlement or appeal of
such proceeding if he or she 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, and prior to, during the pendency or after completion
of such proceeding the Indemnitee is deceased, except that in a
proceeding by or in the right of the Company no indemnification shall
be due under the provisions of this subsection in respect of any
claim, issue or matter as to which such person shall have been finally
adjudged to be liable to the Company after the time for an appeal has
expired, by a court of competent jurisdiction due to willful

 

 

misconduct of a culpable nature in the performance of his or her duty
to the Company, unless and only to the extent that the Court of
Chancery or the court in which such proceeding was brought shall
determine upon application that, despite the adjudication of liability
but in view of all the
circumstances of the case, such person is fairly and reasonably
entitled to indemnity for such amounts which the Court of Chancery or
such other court shall deem proper; and

(d) Exception for Amounts Covered by Insurance. Notwithstanding the
foregoing, the Company shall not be obligated to indemnify the
Indemnitee for expenses or liabilities of any type whatsoever
(including, but not limited to, judgments, fees, ERISA excise taxes or
penalties, and amounts paid in settlement) which have been paid
directly to Indemnitee under D&O Insurance.

5. Partial Indemnification. If the Indemnitee is entitled under any
provision of this Agreement to indemnification by the Company for some
or a portion of any expenses or liabilities of any type whatsoever
(including, but not limited to, judgments, fines, ERISA excise taxes
or penalties, and amounts paid in settlement) incurred by him or her
in the investigation, defense, settlement or appeal of a proceeding
but not entitled, however, to indemnification for all of the total
amount thereof, the Company shall nevertheless indemnify the
Indemnitee for such total amount except as to the portion thereof to
which the Indemnitee is not entitled.

6. Mandatory Advancement of Expenses. Subject to Section 10 below,
the Company shall advance all expenses incurred by the Indemnitee in
connection with the investigation, defense, settlement or appeal of
any proceeding to which the Indemnitee is a party or is threatened to
be made a party by reason of the fact that the Indemnitee is or was an
agent of the Company or by reason of anything done or not done by him
or her in any such capacity. Indemnitee hereby undertakes to repay
such amounts advanced only if, and to the extent that, it shall
ultimately be determined that the Indemnitee is not entitled to be
indemnified by the Company as authorized hereby. The advances to be
made hereunder shall be paid by the Company to the Indemnitee within
twenty (20) days following delivery of a written request therefor by
the Indemnitee to the Company.

7. Notice and Other Indemnification Procedures.

(a) Promptly after receipt by the Indemnitee of notice of the
commencement of or the threat of commencement of any proceeding, the
Indemnitee shall, if the Indemnitee believes that indemnification with
respect thereto may be sought from the Company under this Agreement,
notify the Company of the commencement or threat of commencement
thereof.

(b) If, at the time of the receipt of a notice of the commencement of
a proceeding pursuant to Section 7(a) hereof, the Company has D&O
Insurance in effect, the Company shall give prompt notice of the
commencement of such proceeding 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) In the event the Company shall be obligated to advance the
expenses for any proceeding against the Indemnitee, the Company, if
appropriate, shall be entitled to assume the defense of such
proceeding, with counsel approved by the Indemnitee, upon the delivery
to the Indemnitee of written notice of its election so to do. After
delivery of such notice, approval of such counsel by the Indemnitee
and the retention of such counsel by the Company, the Company will not
be liable to the Indemnitee under this Agreement for any fees of
counsel subsequently incurred by the Indemnitee with respect to the
same proceeding, provided that (i) the Indemnitee shall have the right
to employ his or her counsel in any such proceeding at the
Indemnitee’s expense; and (ii) if (A) the employment of counsel by the
Indemnitee has been previously authorized by the Company, (B) the
Indemnitee shall have reasonably concluded that there may be a
conflict of interest between the Company and the Indemnitee in the
conduct of any such defense or (C) the Company shall not, in fact,
have employed counsel to assume

 

 

the defense of such proceeding, the
fees and expenses of the Indemnitee’s counsel shall be at the expense
of the Company.

8. Determination of Right to Indemnification.

(a) To the extent the Indemnitee has been successful on the merits or
otherwise in defense of any proceeding referred to in Section 4(a),
4(b) or 4(c) of this Agreement or in the defense of any claim,
issue or matter described therein, the Company shall indemnify the
Indemnitee against expenses actually and reasonably incurred by him or
her in connection therewith.

(b) In the event that Section 8(a) is inapplicable, the Company shall
also indemnify the Indemnitee unless, and only to the extent that, the
Company shall prove by clear and convincing evidence to a forum listed
in Section 8(c) below that the Indemnitee has not met the applicable
standard of conduct required to entitle the Indemnitee to such
indemnification.

(c) The Indemnitee shall be entitled to select the forum in which the
validity of the Company’s claim under Section 8(b) hereof that the
Indemnitee is not entitled to indemnification will be heard from among
the following:

(1) A quorum of the Board consisting of directors who are not parties
to the proceeding for which indemnification is being sought;

(2) The stockholders of the Company;

(3) Legal counsel selected by the Indemnitee and reasonably
approved by the Board, which counsel shall make such
determination in a written opinion;

(4) A panel of three arbitrators, one of whom is selected by the
Company, another of whom is selected by the Indemnitee and the
last of whom is selected by the first two arbitrators so
selected.

(d) As soon as practicable, and in no event later than 30 days after
written notice of the Indemnitee’s choice of forum pursuant to Section
8(c) above, the Company shall, at its own expense, submit to the
selected forum in such manner as the Indemnitee or the Indemnitee’s
counsel may reasonably request, its claim that the Indemnitee is not
entitled to indemnification; and the Company shall act in the utmost
good faith to assure the Indemnitee a complete opportunity to defend
against such claim.

(e) Notwithstanding a determination by any forum listed in Section
8(c) hereof that the Indemnitee is not entitled to indemnification
with respect to a specific proceeding, the Indemnitee shall have the
right to apply to the Court of Chancery of Delaware, the court in
which that proceeding is or was pending or any other court of
competent jurisdiction, for the purpose of enforcing the Indemnitee’s
right to indemnification pursuant to the Agreement.

(f) The Company shall indemnify the Indemnitee against all expenses
incurred by the Indemnitee in connection with any hearing or
proceeding under this Section 8 involving the Indemnitee and against
all expenses incurred by the Indemnitee in connection with any other
proceeding between the Company and the Indemnitee involving the
interpretation or enforcement of the rights of the Indemnitee under
this Agreement unless a court of competent jurisdiction finds that
each of the material claims and/or defenses of the Indemnitee in any
such proceeding was frivolous or not made in good faith.

9. Limitation of Actions and Release of Claims. No proceeding shall
be brought and no cause of action shall be asserted by or on behalf of
the Company or any subsidiary against the Indemnitee, his or her
spouse, heirs, estate, executors or administrators after the
expiration of one year from the act or omission of the Indemnitee upon
which such proceeding is based; however, in a case where the
Indemnitee fraudulently conceals the facts underlying such cause of
action, no proceeding shall be

 

 

brought and no cause of action shall be
asserted after the expiration of one year from the earlier of (i) the
date the Company or any subsidiary of the Company discovers such
facts, or (ii) the date the Company or any subsidiary of the Company
could have discovered such facts by the exercise of reasonable
diligence. Any claim or cause of action of the Company or any
subsidiary of the Company, including claims predicated upon the
negligent act or omission of the Indemnitee, shall be extinguished and
deemed released unless asserted by filing of a legal action within
such period. This Section 9 shall not apply to any cause of action
which has accrued on the date hereof and of which the Indemnitee is
aware on the date hereof, but as to which the Company has no actual
knowledge apart from the Indemnitee’s knowledge.

10. Exceptions. Any other provision herein to the contrary
notwithstanding, the Company shall not be obligated pursuant to the
terms of this Agreement:

(a) Claims Initiated by Indemnitee. To indemnify or advance expenses
to the Indemnitee with respect to proceedings or claims initiated or
brought voluntarily by the Indemnitee and not by way of defense,
except with respect to proceedings brought to establish or enforce a
right to indemnification under this Agreement or any other statute or
law or otherwise as required under Section 145, but such
indemnification or advancement of expenses may be provided by the
Company in specific cases if the Board of Directors finds it to be
appropriate; or

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

(c) Unauthorized Settlements. To indemnify the Indemnitee under this
Agreement for any amounts paid in settlement of a proceeding unless
the Company consents to such settlement; or

(d) Claims by the Company for Willful Misconduct. To indemnify or
advance expenses to the Indemnitee under this Agreement for any
expenses incurred by the Indemnitee with respect to any proceeding or
claim brought by the Company against the Indemnitee for willful
misconduct, unless a court of competent jurisdiction determines that
each of such claims was not made in good faith or was frivolous; or

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

(f) Willful Misconduct. To indemnify the Indemnitee on account of the
Indemnitee’s conduct which is finally adjudged to have been knowingly
fraudulent or deliberately dishonest, or to constitute willful
misconduct; or

(g) Unlawful Indemnification. To indemnify the Indemnitee if a final
decision by a court having jurisdiction in the matter shall determine
that such indemnification is not lawful; or

(h) Forfeiture of Certain Bonuses and Profits. To indemnify
Indemnitee for the payment of amounts required to be reimbursed to the
Company pursuant to Section 304 of the Sarbanes-Oxley Act of 2002, as
amended, or any similar successor statute.

11. Nonexclusivity. The provisions for indemnification and
advancement of expenses set forth in this Agreement shall not be
deemed exclusive of any other rights which the Indemnitee may have
under any provision of law, the Company’s Certificate of Incorporation
or Bylaws, the vote of the Company’s stockholders or disinterested
directors, other agreements, or otherwise, both as to actions in his
or her official capacity and to actions in another capacity while
occupying his or her position as an agent of the Company, and the
Indemnitee’s rights hereunder shall continue after the Indemnitee has ceased

 

 

acting as an agent of the Company and shall inure to the
benefit of the heirs, executors and administrators of the Indemnitee.

12. Interpretation of Agreement. It is understood that the parties
hereto intend this Agreement to be interpreted and enforced so as to
provide indemnification to the Indemnitee to the fullest extent now or
hereafter permitted by law.

13. Severability. If any provision or provisions of this Agreement
shall be held to be invalid, illegal or unenforceable for any reason
whatsoever, (i) the validity, legality and enforceability of the
remaining provisions of the Agreement (including, without limitation,
all portions of any paragraphs of this Agreement containing any such
provision held to be invalid, illegal or unenforceable, that are not
themselves invalid, illegal or unenforceable) shall not in any way be
affected or impaired thereby, and (ii) to the fullest extent possible,
the provisions of this Agreement (including, without limitation, all
portions of any paragraphs of this Agreement containing any such
provision held to be invalid, illegal or unenforceable, that are not
themselves invalid, illegal or unenforceable) shall be construed so as
to give effect to the intent manifested by the provision held invalid,
illegal or unenforceable and to give effect to Section 12 hereof.

14. Modification and Waiver. No supplement, modification or amendment
of this Agreement shall be binding unless executed in writing by both
of the parties hereto. No waiver of any of the provisions of this
Agreement shall be deemed or shall constitute a waiver of any other
provision hereof (whether or not similar) nor shall such waiver
constitute a continuing waiver.

15. Successors and Assigns. The terms of this Agreement shall bind,
and shall inure to the benefit of, the successors, heirs, executors,
and administrators and assigns of the parties hereto.

16. Notice. All notices, requests, demands and other communications
under this Agreement shall be in writing and shall be deemed duly
given (i) if delivered by hand and receipted for by the party
addressee or (ii) if mailed by certified or registered mail with
postage prepaid, on the third business day after the mailing date.
Addresses for notice to either party are as shown on the signature
page of this Agreement, or as subsequently modified by written notice.

17. Governing Law. This Agreement shall be governed exclusively by
and construed according to the laws of the State of Delaware, as
applied to contracts between Delaware residents entered into and to be
performed entirely within Delaware.

18. Consent to Jurisdiction. The Company and the Indemnitee each
hereby irrevocably consent to the jurisdiction of the courts of the
State of Delaware for all purposes in connection with any action or
proceeding which arises out of or relates to this Agreement.

 

 

          The parties hereto have entered into this Indemnity Agreement effective as
of the date first above written.

	 	 	 	 	 
	 	 	ORACLE CORPORATION
	 
	 	 	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	

	 	By:	 	 
	

	 	 	 	

	

	 	 	 	Daniel Cooperman
	 
	 	 	 	 
	

	 	Its:
	 	Senior Vice President,

General Counsel & Secretary
	 
	 	 	 	 
	 
	 	 	 	 
	 	 	INDEMNITEE:

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