Document:

Page 5 of 12

                                                                   Exhibit 10(a)

                           AMENDMENT TO LOAN DOCUMENTS

         THIS AMENDMENT TO LOAN DOCUMENTS (the  "Amendment")  made this 11th day
of January,  2006,  by and among RONSON  CONSUMER  PRODUCTS  CORPORATION,  a New
Jersey corporation ("Products"), RONSON AVIATION, INC., a New Jersey corporation
("Aviation"),  RONSON CORPORATION, a New Jersey corporation ("Parent"), and BANK
OF AMERICA, N.A., successor to Summit Bank ("Bank").

                                   BACKGROUND

         A. On or about  January 6, 1995,  Products and Bank entered into a loan
and  security  agreement  (as  amended,  the  "Products  Loan  Agreement").  The
obligations  of Products  under the Products Loan  Agreement  are  guaranteed by
Parent and Aviation and are secured by a perfected  security  interest in all of
the assets  (except to the extent  limited by the Products  Loan  Agreement)  of
Products  and  Aviation,  as  well  as  a  subordinate  mortgage  from  Products
encumbering  the property  located at 3-6 Ronson Drive,  Woodbridge,  New Jersey
(the "Mortgaged Property")

         B. On or about  December  1,  1995,  Products  and  Parent  executed  a
mortgage note in favor of Bank in the principal sum of $1,300,000.  (as amended,
the  "Mortgage  Note").  Products'  obligations  under  the  Mortgage  Note  are
guaranteed by Aviation and are secured by a mortgage and security agreement (the
"Mortgage")  and an assignment of rents and leases (the  "Assignment  of Rents")
encumbering the Mortgaged Property.

         C. On or about August 28,  1997,  Aviation and Bank entered into a loan
and  security  agreement  (as  amended,  the  "Aviation  Loan  Agreement").  The
obligations  of Aviation  under the Aviation Loan  Agreement  are  guaranteed by
Parent and Products and are secured by a perfected  security  interest in all of
the  assets  of  Aviation  and  Products,  as well as the  subordinate  mortgage
identified in Paragraph A above.

         D. The Products Loan  Agreement,  the Mortgage  Note,  and the Aviation
Loan Agreement,  together with all promissory notes, guaranties,  mortgages, all
documents relating to any collateral,  together with all documents collateral to
any of the  foregoing,  all  as  the  same  may  have  been  modified,  revised,
supplemented, replaced, and/or amended from time to time, are referred to herein
as the "Loan Documents".

         E. The parties'  obligations  under the Products  Loan  Agreement,  the
Mortgage Note, and the Aviation Loan Agreement were modified pursuant to several
amendments.  Pursuant to the most recent amendments, the maturity date under the
Products Loan  Agreement  and the Aviation Loan  Agreement is December 31, 2005.
The  parties  desire  to  modify  the  terms of the Loan  Documents  so that all
obligations of Products,  Aviation,  and Parent to the Bank will be satisfied no
later than January 31, 2007.

         NOW  THEREFORE,  for good and valuable  consideration,  the receipt and
sufficiency of which is hereby acknowledged, the parties hereto, intending to be
legally bound, hereby agree as follows:

<PAGE>
                                                                    Page 6 of 12

         1.  Confirmation  of  Background.  The  statements  set  forth  in  the
             ----------------------------
Background section to this Amendment are herein incorporated by reference,  made
a part hereof,  and acknowledged by the parties hereto to be true and correct as
of the date of this Amendment.

         2.   Confirmation   of  Existing   Indebtedness.   The  parties  hereto
              ------------------------------------------
acknowledge  that as of  December  19, 2005 the  amounts  outstanding  under the
Products Loan Agreement,  the Mortgage Note, and the Aviation Loan Agreement are
as follows,  and said amounts are owed without defense,  set off,  counterclaim,
discount or charge:

PRODUCTS LOAN AGREEMENT:

              -----------------------------------------------------------
              Principal                                     $1,500,000.00
              -----------------------------------------------------------
              Interest                                          $5,687.50
              -----------------------------------------------------------
              TOTAL                                         $1,505,687.50
              -----------------------------------------------------------

              -----------------------------------------------------------
              There is an outstanding letter of credit
              in the sum of $150,000.00 which expires
              June 30, 2006
              -----------------------------------------------------------

MORTGAGE NOTE:

              -----------------------------------------------------------
              Principal                                     $1,240,343.62
              -----------------------------------------------------------
              Interest                                          $4,702.97
              -----------------------------------------------------------
              TOTAL                                         $1,245,046.59
              -----------------------------------------------------------

AVIATION LOAN AGREEMENT:

              -----------------------------------------------------------
              Principal                                                $0
              -----------------------------------------------------------
              Interest                                                 $0
              -----------------------------------------------------------
              TOTAL                                                    $0
              -----------------------------------------------------------

              -----------------------------------------------------------
              There is an outstanding letter of credit
              in the sum of $60,000.00 which expires
              June 30, 2006
              -----------------------------------------------------------

<PAGE>
                                                                    Page 7 of 12

         3. Ratification, Reaffirmation and Confirmation.
            --------------------------------------------

            3.1  Products,  Aviation,  and Parent  hereby  ratify,  confirm  and
reaffirm in all respects and without  condition  all the terms,  covenants,  and
conditions  set forth in the Loan  Documents,  and hereby  agree that  Products,
Aviation,  and Parent  remain  unconditionally  liable to the Bank in accordance
with the respective  terms,  covenants,  and  conditions of the Loan  Documents.
Products, Aviation, and Parent further hereby ratify, confirm, and reaffirm that
all  collateral,  liens,  assignments,  security  interest,  and pledges created
pursuant to the Loan Documents and/or referred to herein continue unimpaired and
in full force and affect, except as expressly modified hereby, and do secure and
shall  continue  to secure all of the debts,  liabilities,  and  obligations  of
Products, Aviation, and Parent to the Bank.

            3.2 Neither  this  Amendment  nor any other  agreement  entered into
connection herewith or pursuant to the terms hereof shall be deemed or construed
to  be a  compromise,  satisfaction,  reinstatement,  accord  and  satisfaction,
novation or release of any of the Loan  Documents,  or any rights or obligations
thereunder, or a waiver by Bank of any of its rights under the Loan Documents or
at law or in equity.

         4.  Representations  and  Warranties.  Products,  Aviation,  and Parent
             --------------------------------
jointly and severally represent and warrant to the Bank as follows:

            4.1 Products,  Aviation, and Parent are corporations duly formed and
validly existing under the laws of the State of New Jersey.

            4.2 The  execution,  delivery and  performance  of this Amendment by
Products,  Aviation, and Parent has been duly authorized by Products,  Aviation,
and  Products  and the persons who have  executed  this  Amendment  on behalf of
Products, Aviation, and Parent have been duly authorized to do so. The execution
of this  Amendment by Products,  Aviation,  and Parent  constitutes  a valid and
binding obligation of Products, Aviation, and Parent.

            4.3  No   consent,   approval  or   authorization   of,  or  filing,
registration  or  qualification  with,  any person or entity is  required  to be
obtained by Products,  Aviation,  or Parent in connection with the execution and
delivery of this Amendment or the  undertaking or performance of any obligations
hereunder.

         5. Amendments to Loan Documents.
            ----------------------------

            5.1  Commencing  on January  1,  2006,  and on the first day of each
month  thereafter,  Products,  Aviation,  and Parent  shall pay to Bank  monthly
payments of interest on the principal balance due on the Products Loan Agreement
at a rate of prime plus one half percent.

            5.2  Commencing  on January  1,  2006,  and on the first day of each
month  thereafter,  Aviation,  Products,  and Parent  shall pay to Bank  monthly
payments of interest on the principal balance due on the Aviation Loan Agreement
at a rate of prime plus 1 percent.

            5.3 On or before January 31, 2007,  Products,  Aviation,  and Parent
shall pay in full the  outstanding  principal  balance due on the Products  Loan
Agreement, the Mortgage Note, and the Aviation Loan Agreement, together with all
accrued interest.

<PAGE>
                                                                    Page 8 of 12

            5.4 Until such time as the  Products  Loan  Agreement,  the Mortgage
Note,  and the Aviation Loan Agreement  shall have been paid in full,  Products,
Aviation, and Parent shall pay to the Bank the following fees:

                  Date                        Amount
                  ----                        ------

                  February 28, 2006         $10,000.00

                  March 31, 2006            $10,000.00

                  April 30, 2006            $10,000.00

                  May 31, 2006              $10,000.00

                  June 30, 2006             $50,000.00

                  July 31, 2006             $20,000.00

                  August 31, 2006           $20,000.00

                  September 30, 2006        $20,000.00

                  October 31, 2006          $20,000.00

                  November 30, 2006         $20,000.00

                  December 31, 2006         $20,000.00

                  January 31, 2007          $20,000.00

            5.5 Products, Aviation, and Parent shall pay all of the Bank's legal
fees and expenses  incurred in  connection  with the  preparation,  negotiation,
modification  or enforcement of this Amendment and the instruments and documents
referred to herein.

            5.6 Until such time as the  Products  Loan  Agreement,  the Mortgage
Note, and the Aviation Loan Agreement shall have been paid in full, Parent, on a
consolidated  basis,  shall  maintain a minimum  EBITDA for each  quarter as set
forth herein.  As used herein,  "EBITDA" means net income plus interest  expense
plus income tax expense plus  depreciation  plus  amortization.  For the quarter
ending December 31, 2005, Parent have EBITDA of not less than $250,000.  For the
quarter  ending  March  31,  2006,  Parent  shall  have  EBITDA of not less than
$280,000.  For the quarter ending June 30, 2006, Parent shall have EBITDA of not
less than $175,000. For the quarter ending September 30, 2006, Parent shall have
EBITDA of not less than $450,000.

         6. Financial Information.
            ---------------------

            6.1 Products and Aviation  shall  provide to the Bank,  on a monthly
basis,  no later than 30 days after the last day of each month,  copies of their
balance sheets,  profit and loss  statements,  accounts  receivable and accounts
payable aging reports for that month.

            6.2 Upon the Bank's request,  Products,  Aviation,  and Parent shall
provide access and produce any  information and  documentation  requested by the
Bank,  to confirm the financial

<PAGE>
                                                                    Page 9 of 12

condition  of  Products  and  Aviation.  Products,  Aviation,  and Parent  shall
reimburse  the Bank for the cost of any such field  examinations.  If  Products,
Aviation, and Parent provide to Bank a fully executed commitment letter no later
than May 1, 2006 which will provide  sufficient funds to satisfy the balance due
under the Products  Loan  Agreement,  the Mortgage  Note,  and the Aviation Loan
Agreement no later than June 30, 2006, and the loan closes by June 30, 2006, the
Bank will not require a field examination.

            6.3 Upon the  Bank's  request,  Products  shall  provide  access and
produce any information and documentation requested by the Bank so that the Bank
can obtain an appraisal  of the  Mortgaged  Property.  Products,  Aviation,  and
Parent shall reimburse the Bank for the cost of any such appraisal. If Products,
Aviation, and Parent provide to Bank a fully executed commitment letter no later
than May 1, 2006 which will provide  sufficient funds to satisfy the balance due
under the Products  Loan  Agreement,  the Mortgage  Note,  and the Aviation Loan
Agreement no later than June 30, 2006, and the loan closes by June 30, 2006, the
Bank will not require an appraisal.

            6.4  Products,  Aviation,  and Parent shall provide to Bank when due
all  documentation  and  information as required by the Products Loan Agreement,
the Mortgage Note, and the Aviation Loan Agreement.

         7.  Consent  of  Guarantors.  Each  Guarantor  hereby  consents  to the
             -----------------------
provisions of this Amendment and confirms and agrees that: (a) such  Guarantor's
obligations  under its Guaranty shall be unimpaired by this Amendment;  (b) such
Guarantor has no defenses, set offs, counterclaims,  discounts or charges of any
kind against the Bank, its officers,  directors,  employees, agents or attorneys
with respect to the Guaranty; and (c) all of the terms, conditions and covenants
in the  Guaranty  remain  unaltered  and in full force and effect and are hereby
ratified and confirmed and apply to all obligations of the Borrower to the Bank,
as modified by the Amendment.  Each Guarantor certifies that all representations
and  warranties  made in its  Guaranty  are true  and  correct.  Each  Guarantor
ratifies and confirms the  indemnification  and waiver of jury trial  provisions
contained in its Guaranty.

         8. Forbearance.
            -----------

            8.1 Bank agrees to forbear from  exercising  its rights and remedies
under the Loan Documents  during the period  commencing on the date of execution
of this Amendment and ending on the earlier of (i) January 31, 2007, or (ii) the
date of an Event of Default as defined herein occurs (the "Forbearance Period").
For purposes of this Amendment, an Event of Default shall mean the occurrence of
any of the  following:  (a) the  occurrence  of an Event of  Default  after  the
expiration of any applicable  cure period under any of the Loan  Documents;  (b)
failure to make any payment due under this  Amendment;  (c) breach any warranty,
representation or other  non-monetary  obligation under this Amendment;  and (d)
failure  to  provide  Bank  with  the  financial  information  required  by this
Amendment.

            8.2 Products,  Aviation, and Parent expressly understand and further
agree that upon an  occurrence  and  continuation  of an Event of  Default,  the
Forbearance  Period may be  terminated  by the Bank without  notice or demand to
Products,  Aviation, and Parent, in which event all sums due and owing under the
Loan Documents shall be immediately due and payable in full. The Bank is relying
upon all terms and conditions of this Amendment,  including, without limitation,
the Bank's right to terminate the Forbearance  Period as aforesaid as a material
inducement to the Bank to enter into this Amendment.

<PAGE>
                                                                   Page 10 of 12

            8.3 The  termination  of the  Forbearance  Period in this  Amendment
shall not affect the  ratifications,  reaffirmations,  and confirmations made by
Products, Aviation, and Parent in Section 3 of this Amendment.

         9. Default. An Event of Default by Products,  Aviation, or Parent under
            -------
this  Amendment  shall be considered an Event of Default under the Products Loan
Agreement, the Mortgage Note, and the Aviation Loan Agreement.

         10. No Defenses. Products, Aviation, and Parent hereby confirm that, as
             -----------
of the date hereof,  there are no existing  defenses,  claims,  counterclaims or
rights of recoupment or set-off against the Bank in connection with the loans or
the  negotiation,  preparation,  execution,  performance  or any  other  matters
relating to this Amendment or the Loan Documents. Products, Aviation, and Parent
further acknowledge and agree that, notwithstanding anything to the contrary set
forth in this  Amendment,  the Bank has no  obligation to further amend the Loan
Documents,  or  enter  into  any  other  instruments,  agreements  or  documents
regarding any of the same with Products,  Aviation, or Parent, and that the Bank
and its  representatives  have not made any  agreements  with, or commitments or
representations  or warranties  to,  Products,  Aviation,  and Parent (either in
writing or orally) other than as expressly  stated in this Amendment.  Products,
Aviation, and Parent further acknowledge and agree that, except as expressly set
forth in this  Amendment,  upon the occurrence of an Event of Default,  the Bank
has no  obligation  to forbear  from the  exercise of its rights and remedies to
collect the indebtedness described in this Amendment.

         11. No Modification. Except as amended hereby, all terms and conditions
             ---------------
of the Loan  Documents,  are and shall remain  unmodified  and in full force and
effect. No right,  remedy,  privilege or power of Bank mentioned herein shall be
construed in derogation of any right, remedy, privilege or power of Bank granted
in the Loan Documents. Nothing herein contained, and no transaction entered into
in  connection  herewith,  shall  alter,  impair or diminish  the  validity  and
efficacy of any lien,  security interest,  right, power or privilege now held by
Bank in  connection  with  the  Loan  Documents  or the  indebtedness  evidenced
thereby.

         12.  Release of Bank. To induce the Bank to enter into this  Amendment,
              ---------------
Products,  Aviation,  and Parent hereby waive and release and forever  discharge
the Bank and its officers, directors,  attorneys, agents, and employees from any
liability, damage, claim, loss or expense of any kind that they may have against
the Bank or any of them. Products,  Aviation, and Parent hereby further agree to
indemnify and hold the Bank and its officers,  directors,  attorneys, agents and
employees  harmless  from any  loss,  damage,  judgment,  liability  or  expense
(including  attorneys'  fees) suffered by or rendered against the Bank or any of
them on account of any claims arising out of or relating to the Loan.  Products,
Aviation,  and Parent  further state that they have carefully read the foregoing
release,  know the contents thereof and grant the same as their own free act and
deed. This release does not extend to any ongoing obligations of the Bank or its
affiliates to Products, Aviation, and Parent.

         13. Additional Documents and Future Actions.  Products,  Aviation,  and
             ---------------------------------------
Parent shall take such actions and deliver to Bank such additional  documents as
the Bank may reasonably require.

         14.  Amendment  and  Waiver.  This  Amendment  may be  amended  and any
              ----------------------
provision  hereof  waived only in a writing  executed by the parties  hereto.  A
waiver  by  Bank of any  breach  or  failure  to  enforce  any of the  terms  or
conditions of this Amendment shall not in any way affect,  limit or waive Bank's
rights  hereunder at any time to enforce strict  compliance  thereafter with any
term or condition

<PAGE>
                                                                   Page 11 of 12

of this  Amendment.  No  partial  or single  exercise  of any right  under  this
Amendment shall constitute a waiver of that or any other right, unless expressly
provided herein.

         15.  Governing  Law.  The   interpretation  and  construction  of  this
              --------------
Amendment,  and all matters relating hereto,  shall be governed by and construed
in accordance with the laws of the State of New Jersey.

         16. Binding  Effect.  This Amendment  shall inure to the benefit of and
             ---------------
shall  be  binding  upon  the  parties   hereto  and  their  heirs,   executors,
administrators,  successors and assigns.  This Amendment  constitutes the entire
agreement  between the parties  with  respect to the  subject  matter  contained
herein,  and  supersedes  all  prior  and   contemporaneous   oral  and  written
communications and agreements with respect thereto.

         17.  Headings.  Headings of sections shall be deemed to be included for
              --------
purposes of  convenience  only and shall not affect the  interpretation  of this
Amendment.

         18. Waiver of Right to Trial by Jury. PRODUCTS,  AVIATION,  PARENT, AND
             --------------------------------
BANK WAIVE ANY RIGHT TO TRIAL BY JURY ON ANY CLAIM, DEMAND,  ACTION, OR CAUSE OF
ACTION ARISING UNDER THIS AMENDMENT OR ANY OTHER DOCUMENT OR INSTRUMENT REFERRED
TO HEREIN OR DELIVERED IN CONNECTION  HEREWITH OR IN ANY WAY  CONNECTED  WITH OR
RELATED OR  INCIDENTAL  TO THE  DEALINGS OF PRODUCTS,  AVIATION,  OR PARENT WITH
RESPECT TO THIS AMENDMENT OR ANY OTHER DOCUMENT OR INSTRUMENT REFERRED TO HEREIN
OR DELIVERED IN  CONNECTION  HEREWITH,  OR THE  TRANSACTIONS  RELATED  HERETO OR
THERETO,  IN EACH  CASE  WHETHER  SOUNDING  IN  CONTRACT  OR TORT OR  OTHERWISE.
PRODUCTS,  AVIATION,  PARENT,  AND BANK AGREE AND  CONSENT  THAT ANY SUCH CLAIM,
DEMAND,  ACTION,  OR CAUSE OF ACTION  SHALL BE DECIDED BY COURT TRIAL  WITHOUT A
JURY, AND THAT ANY PARTY TO THIS AGREEMENT MAY FILE AN ORIGINAL COUNTERPART OR A
COPY OF THIS  SECTION  WITH ANY COURT AS WRITTEN  EVIDENCE OF THE CONSENT OF THE
PARTIES TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY. PRODUCTS,  AVIATION,  AND
PARENT  ACKNOWLEDGE  THAT THEY HAVE HAD AN  OPPORTUNITY  TO CONSULT WITH COUNSEL
REGARDING THIS SECTION, THAT THEY FULLY UNDERSTAND ITS TERMS, CONTENT AND EFFECT
AND THAT THEY VOLUNTARILY AND KNOWINGLY AGREE TO THE TERMS OF THIS SECTION.

<PAGE>
                                                                   Page 12 of 12

         IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed by their duly authorized representatives,  under seal, the day and year
first above written.

                                            RONSON CONSUMER PRODUCTS
                                            CORPORATION

Attest: /s/ Daryl Holcomb                   By: /s/ Louis V. Aronson II
                                            Title:  President

                                            RONSON AVIATION, INC.

Attest: /s/ Daryl Holcomb                   By: /s/ Louis V. Aronson II
                                            Title:  President

                                            RONSON CORPORATION

Attest: /s/ Daryl Holcomb                   By:  Louis V. Aronson II
                                            Title:  President

                                            BANK OF AMERICA, N.A.

Attest: /s/ Michael S. Haines               By: /s/ Andrew Maidman
                                            Title: Senior Vice PresidentExhibit 10.1

HEALTH BENEFITS DIRECT CORPORATION

DIRECTOR AND OFFICER INDEMNIFICATION AGREEMENT

This Director and Officer Indemnification Agreement, dated as of _________ (this “Agreement”), is made by and between Health Benefits Direct Corporation, a Delaware corporation (the “Company”), and __________ (the “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.         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.

C.         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.

D.         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.

E.         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.

F.        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 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.

G.         Recent federal legislation and rules adopted by the Securities and Exchange Commission and the national securities exchanges have exposed such directors and officers to new and substantially broadened civil liabilities.

H.         Under Delaware law, a director’s or 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 may be able to establish.

 

 

 

 

 

I.              Indemnitee is, or will be, a director and/or officer of the Company and his or her willingness to serve in such capacity is predicated, in substantial part, upon the Company’s willingness to indemnify him or 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.

J.              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/or 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 and advancement of Expenses to Indemnitee on the terms, and subject to the conditions, set forth in this Agreement.

K.            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” shall have occurred at such time, if any, as Incumbent Directors cease for any reason to constitute a majority of Directors.  For purposes of this Section 1(a), “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 a majority 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 Securities Exchange Act of 1934, as amended) 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.

(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 

 

 

2

 

 

inquiry or investigation, whether made, instituted or conducted by the Company or any other Person, including, without limitation, any federal, state or other governmental entity, that Indemnitee reasonably determines might lead to the institution of any such claim, demand, action, suit or proceeding.  For the avoidance of doubt, the Company intends indemnity to be provided hereunder in respect of acts or failure to act prior to, on or after the date hereof. 

(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 holder to cast 15% 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, (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, agent, trustee or other fiduciary 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 (by action of the Board, any committee thereof or the Company’s Chief 

 

 

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Executive Officer (“CEO”) (other than as the CEO him or herself)) 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; provided, however, that Indemnifiable Losses shall not include Losses incurred by Indemnitee in respect of any Indemnifiable Claim (or any matter or issue therein) as to which Indemnitee shall have been adjudged liable to the Company, unless and only to the extent that the Delaware Court of Chancery or the court in which such Indemnifiable Claim was brought shall have determined upon application that, despite the adjudication of liability but in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnification
for such Expenses as the court shall deem proper. 

(h)               “Independent Counsel” means a nationally recognized law firm, or a member of a nationally recognized law firm, that is experienced in matters of Delaware corporate 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 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 or payable in settlement, including, without limitation, all interest, assessments and other charges paid or payable in connection with or in respect of any of the foregoing. 

(j)                “Person” means any individual, entity or group, within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended. 

(k)               “Standard of Conduct” means the standard for conduct by Indemnitee that is a condition precedent to indemnification of Indemnitee hereunder against Indemnifiable Losses relating to, arising out of or resulting from an Indemnifiable Claim.  The Standard of Conduct is (i) good faith and a reasonable belief by Indemnitee that his action was in or not opposed to the best interests of the Company and, with respect to any criminal action or proceeding, that Indemnitee had no reasonable cause to believe that his conduct was unlawful, or (ii) any other applicable standard of conduct that may hereafter be substituted under Section 145(a) or (b) of the Delaware General Corporation Law or any successor to such provision(s).

2.                 Indemnification Obligation.  Subject only to Section 7 and to the proviso in this Section, 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, 

 

 

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however, that, except as provided in Section 5, Indemnitee shall not be entitled to indemnification pursuant to this Agreement in connection with (i) 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, or (ii) the purchase and sale by Indemnitee of securities in violation of Section 16(b) of the Securities Exchange Act of 1934, as amended.  The Company acknowledges that the foregoing obligation may be broader than that now provided by applicable law and the Company’s Constituent Documents and intends that it be interpreted consistently with this Section and the recitals to this Agreement. 

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 actual and reasonable Expenses relating to, arising out of or resulting from any Indemnifiable Claim paid or incurred by Indemnitee.  Without limiting the generality or effect of any other provision hereof, 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 that is accompanied by supporting documentation for specific reasonable Expenses to be
reimbursed or advanced, 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, at the request of the Company, 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 accompanied by supporting documentation for specific Expenses to be reimbursed or advanced, any and all actual and reasonable Expenses 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 hereafter in effect relating to Indemnifiable Claims, and/or (b) recovery under any directors’ and officers’ liability insurance policies maintained by the Company; provided, however, if it is ultimately determined that the Indemnitee is not entitled to such indemnification, reimbursement, advance or insurance recovery, as the case may be, then the Indemnitee shall be obligated to repay any such Expenses to the Company; provided further, that, 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, Indemnitee shall return, 

 

 

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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 therefore, 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 thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of the Indemnitee, all Indemnifiable Claims and Indemnifiable Losses in accordance with the terms of such policies.  The Company shall provide to Indemnitee a copy of such notice delivered to the applicable insurers, substantially concurrently with the delivery 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 to the extent that 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, without limitation, 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 the applicable Standard of Conduct (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 designated by a majority vote of all Disinterested Directors, or (C) if there are no such Disinterested Directors, or if a majority of the Disinterested Directors so direct, 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 

 

 

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Conduct Determination be made pursuant to clause (i) above, by Independent Counsel in a written opinion addressed to the Board, a copy of which shall be delivered to Indemnitee.

(c)               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) to have satisfied the applicable Standard of Conduct, 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.  Nothing herein is intended to mean or imply that the Company is intending to use Section 145(f) of the Delaware General Corporation Law to dispense with a requirement that Indemnitee meet the applicable Standard of Conduct where it is otherwise required by such statute.

(d)               If a Standard of Conduct Determination is required to be, but has not been, made by Independent Counsel pursuant to Section 7(b)(i), the Independent Counsel shall be selected by the Board or a committee of the Board, 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 required to be, or to have been, 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 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(d) to make the Standard of Conduct Determination shall have been selected within 30 calendar days after the Company gives its initial notice pursuant to the first sentence of this Section 7(d) or Indemnitee gives its initial notice pursuant to the second sentence of this Section 7(d), 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 

 

 

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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 actual and reasonable fees and expenses of the Independent Counsel incurred in connection with the Independent Counsel’s determination pursuant to Section 7(b).

8.                 Cooperation.  Indemnitee shall cooperate with reasonable requests of the Company in connection with any Indemnifiable Claim and any individual or firm making such Standard of Conduct Determination, including providing to such Person documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary to defend the Indemnifiable Claim or make any Standard of Conduct Determination without incurring any unreimbursed cost in connection therewith.  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 accompanied by supporting documentation for specific costs and expenses to be reimbursed or advanced, any and all costs and expenses (including attorneys’ and experts’ fees and expenses) actually and reasonably incurred by Indemnitee in so cooperating with the Person defending the Indemnifiable Claim or making such Standard of Conduct Determination. 

9.                 Presumption of Entitlement.  Notwithstanding any other provision hereof, in making any Standard of Conduct Determination, the Person making such determination shall presume that Indemnitee has satisfied the applicable Standard of Conduct.

10.              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.

11.              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 without further action 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 may not, without the consent of Indemnitee, 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.

12.               Liability Insurance and Funding.  For the duration of Indemnitee’s service as a director and/or officer of the Company and for a reasonable period of time thereafter, which such period shall be determined by the Company in its sole discretion, the Company shall use 

 

 

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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, and, if applicable, that is substantially comparable in scope and amount to that provided by the Company’s current policies of directors’ and officers’ liability insurance.  Upon reasonable request, the Company shall provide Indemnitee or his or her counsel with a copy of all directors’ and officers’ liability insurance applications, binders, policies, declarations, endorsements and other related materials.  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.  Notwithstanding the foregoing, (i) 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 and (ii) in renewing or seeking to renew any insurance hereunder, the Company will not be required to expend more than 2.0 times the premium amount of the immediately preceding policy period (equitably adjusted if necessary to reflect differences in policy periods).

13.              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 (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).

14.              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 already actually received payment (net of Expenses 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.

15.               Defense of Claims.  Subject to the provisions of applicable policies of directors’ and officers’ liability insurance, if any, the Company shall be entitled to participate in the defense of any Indemnifiable Claim or to assume or lead the defense thereof with counsel reasonably satisfactory to the Indemnitee; provided that if Indemnitee determines, 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, (c) any such representation by such counsel would be precluded under the applicable standards of professional conduct then prevailing, or (d) Indemnitee has 

 

 

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interests in the claim or underlying subject matter that are different from or in addition to those of other Persons against whom the Claim has been made or might reasonably be expected to be made, 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 for all indemnitees in Indemnitee’s circumstances) 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 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.

16.              Mutual Acknowledgment.  Both the Company and the Indemnitee acknowledge that in certain instances, Federal law or applicable public policy may prohibit the Company from indemnifying its directors and officers under this Agreement or otherwise.  Indemnitee understands and acknowledges that the Company may be required in the future to undertake to the Securities and Exchange Commission to submit the question of indemnification to a court in certain circumstances for a determination of the Company’s right under public policy to indemnify Indemnitee and, in that event, the Indemnitee’s rights and the Company’s obligations hereunder shall be subject to that determination.

	
            17.
 	
            Successors and Binding Agreement.
 

(a)               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 of the other, assign or delegate this Agreement or any rights or obligations hereunder except as expressly provided in Sections 17(a) and 17(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, 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 17(c), the Company shall have no liability to pay any amount so attempted to be assigned or transferred.

 

 

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18.              Notices.  For all purposes of this Agreement, all communications, including without limitation notices, consents, requests or approvals, required or permitted to be given hereunder must 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 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.

19.              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, waive all procedural objections to suit in that jurisdiction, including, without limitation, objections as to venue or inconvenience, agree that service in any such action may be made by
notice given in accordance with Section 18 and also agree that any action instituted under this Agreement shall be brought only in the Chancery Court of the State of Delaware.

20.               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 thereto
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.

21.              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.

22.              Certain Interpretive Matters.  Unless the context of this Agreement otherwise requires, (1) “it” or “its” or words of any gender include each other gender, (2) words using the singular or plural number also include the plural or singular number, respectively, (3) the terms “hereof,” “herein,” “hereby” and derivative or similar words refer to this entire Agreement, (4) 

 

 

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the terms “Article,” “Section,” “Annex” or “Exhibit” refer to the specified Article, Section, Annex or Exhibit of or to this Agreement, (5) the terms “include,” “includes” and “including” will be deemed to be followed by the words “without limitation” (whether or not so expressed), and (6) 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.

23.              Entire Agreement.  This Agreement constitutes the entire agreement and supersedes all prior agreements and understandings, both written and oral, between the parties hereto with respect to the subject matter of this Agreement.  Any prior agreements or understandings between the parties hereto with respect to indemnification are hereby terminated and of no further force or effect.  This Agreement is not the exclusive means of securing indemnification rights of Indemnitee and is in addition to any rights Indemnitee may have under any Constituent Documents.

24.               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.

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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.

	
            HEALTH BENEFITS DIRECT CORPORATION
 
	
             
 	
             
 
	
             
 	
             
 
	
            By:
 	
             
 
	
             
 	
            Name:
 
	
             
 	
            Title: 
 
	
             
 	
             
 
	
             
 	
             
 
	
            INDEMNITEE:
 	
             
 
	
             
 	
             
 
	
             
 	
             
 
	
             
 
	
            Name:
 	
             
 
	
             
 	
             
 
	
            Address:
 	
             
 
	
             
 	
             
 
	
             
 
	
             
 	
             
 
	
             
 
				

 

 

 

Signature Page to Director and Officer Indemnification Agreement

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