Document:

exv10w23

Exhibit 10.23

AMH Investment Holdings Corp.

Stock Grant Notice

2010 Stock Incentive Plan

AMH Investment Holdings Corp. (the “Company”), pursuant to the AMH Investment Holdings
Corp. 2010 Stock Incentive Plan (the “Plan”), hereby grants to the “Participant” identified
below an award (the “Award”) of that number of shares of the Company’s Common Stock set
forth below (the “Shares”). This Award is subject to all of the terms and conditions set
forth herein and in the Restricted Stock Agreement attached hereto, the Plan, the form of
Assignment Separate from Certificate, the form of Joint Escrow Instructions and the Stockholders
Agreement (collectively, the “Award Documents”), all of which are attached hereto and
incorporated herein in their entirety. All capitalized terms not defined in this grant notice
shall have the meanings ascribed thereto in the Restricted Stock Agreement or the Plan, as the case
may be.

	 	 	 

	Participant:
	 	 
	 

	 	 
	Grant Date:
	 	 
	 

	 	 
	Number of Shares:
	 	 
	 

	 	 
	Fair Market Value on Grant Date (Per Share):
	 	 
	 

	 	 
	Fair Market Value on Grant Date (In Aggregate)
	 	 
	 

	 	 

	 	 	 

	Vesting Schedule:

	 	Subject to Participant’s continuous service with the
Company on such date, the Shares shall vest in full on
____________________________. Notwithstanding the
foregoing, in the event of a Change in Control, the
Participant shall become one hundred percent (100%)
vested in the Shares that are outstanding on the date of
the Change in Control, so long as the Participant
remains in continuous service with the Company on such
date.
	 
	 	 
	Consideration:

	 	No payment is required for the Shares, although payment
may be required for the amount of any withholding taxes
due as a result of the award of, or vesting of, the
Shares, as described in the Restricted Stock Agreement.

Additional Terms/Acknowledgements: The undersigned Participant acknowledges receipt of the Award
Documents, and understands and agrees to the terms set forth in the Award Documents. Participant
further acknowledges that as of the Grant Date, the Award Documents set forth the entire
understanding between Participant and the Company regarding the acquisition of shares of the
Company’s Common Stock and supersede all prior oral and written agreements on that subject.

	 	 	 	 	 	 	 	 	 

	AMH Investment Holdings Corp.	 	 	 	Participant
	 
	 	 	 	 	 	 	 	 
	By:
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	Signature
	 	 	 	Signature	 	 
	 
	 	 	 	 	 	 	 	 
	Title:
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Name:

	 	 	 	 	 	Name:	 	 
	 

	 	 
	 	 	 	 	 	 

Attachments:

I. Restricted Stock Agreement

II. 2010 Stock Incentive Plan

III. Form of Assignment Separate from Certificate

IV. Form of Joint Escrow Instructions

V. Stockholders Agreement

VI. Consent of Spouse

 

 

Attachment I

Restricted Stock Agreement

 

 

AMH Investment Holdings Corp.

2010 Stock Incentive Plan

Restricted Stock Agreement

     Pursuant to the provisions of the AMH Investment Holdings Corp. 2010 Stock Incentive Plan
(“Plan”), the terms of the Grant Notice (“Grant Notice”) to which this Restricted
Stock Agreement (hereinafter “Restricted Stock Agreement” or “Agreement”) is
attached and this Restricted Stock Agreement, AMH Investment Holdings Corp. (formerly known as
Carey Investment Holdings Corp.) (the “Company”) grants you that number of shares of Common
Stock indicated in the Grant Notice. Capitalized terms not defined in this Agreement or Grant
Notice but defined in the Plan shall have the same definitions as in the Plan.

     The details of your Award are as follows:

     1. The Award. The Company hereby awards to you the aggregate number of Shares of
Common Stock specified in your Grant Notice. The Shares are awarded to you in consideration for
your service to the Company as an employee, director or consultant to the Company or any of its
Affiliates.

     2. Documentation. As a condition to the award of the Shares, and prior to the
receipt of share certificates by you (if such certificates are issued by the Company), you agree to
execute the Grant Notice, three (3) copies of the Assignment Separate From Certificate (with date
and number of shares blank) and the Spousal Consent substantially in the form attached to the Grant
Notice as Attachments III and VI, respectively, two (2) copies of the Joint Escrow Instructions,
substantially in the form attached to the Grant Notice as Attachment IV, and one (1) copy of the
Shareholders Agreement in the form attached to the Grant Notice as Attachment V, and to deliver the
same to the Company, along with such additional documents as the Company may require.

     3. Consideration For The Award. No cash payment is required for the Shares, although
you may be required to tender payment in cash or other acceptable form of consideration for the
amount of any withholding taxes due as a result of the award of, or vesting of, the Shares.

     4. Vesting. Subject to the limitations contained in this Agreement and the Plan, the
Shares will vest as provided in the Grant Notice. Vesting is contingent upon your continuous
service with the Company or any of its Affiliates as an employee, director or consultant. If your
continuous service with the Company or an Affiliate terminates prior to the vesting of all or any
number of Shares for any reason, then (i) you shall automatically forfeit any unvested Shares to
the Company as of the date of termination without any further action by the Company, and (ii) if
dividends have been credited with respect to any unvested Shares and such Shares are forfeited, all
dividends credited in connection with such forfeited Shares shall also be forfeited to the Company.

     5. Number of Shares. The number of Shares subject to your Award may be adjusted from
time to time pursuant to the provisions of Section 9 of the Plan and any and all new,

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substituted or additional securities to which you may be entitled under the terms of the Award
shall likewise be subject to the terms of the Plan and this Agreement.

     6. Certificates. Certificates evidencing the Shares may be issued by the Company
and, if so issued, shall be registered in your name promptly after the date hereof, but shall
remain in the physical custody of the Company or its designee at all times prior to the vesting of
such Shares pursuant to Section 4. Alternatively, the Company, in its sole discretion, may elect
to issue the Shares in uncertificated form, in which case such Shares shall be recorded in your
name in the books and records of the Company’s transfer agent.

     7. Transfer Restrictions. Shares that are received under your Award are subject to
the transfer restrictions set forth in the Plan, the Stockholders Agreement and any transfer
restrictions that may be described in the Company’s bylaws or charter in effect at the time of the
contemplated transfer. No Share may, at any time prior to becoming vested, be assigned, alienated,
pledged, attached, sold or otherwise transferred or encumbered by you (including, without
limitation, by operation of law) and any such purported assignment, alienation, pledge, attachment,
sale, transfer or encumbrance shall be void and unenforceable against the Company; provided
that the designation of a beneficiary shall not constitute an assignment, alienation,
pledge, attachment, sale, transfer or encumbrance.

     8. Rights as a Stockholder. You shall be the record owner of the Shares until or
unless such Shares are forfeited pursuant to Section 4 hereof or sold or otherwise disposed of, and
as record owner shall be entitled to all rights of a common stockholder of the Company, including,
without limitation, voting rights with respect to the Shares and you shall receive, when paid, any
dividends on all of the Shares granted hereunder as to which you are the record holder on the
applicable record date; provided that (i) any cash or in-kind dividends paid with respect
to the Shares which have not previously vested shall be withheld by the Company without interest
and shall be paid to you only when, and if, such Shares shall become fully vested pursuant to
Section 4, and (ii) the Shares shall be subject to the limitations on transfer and encumbrance set
forth herein. As soon as practicable following the vesting of any Shares pursuant to Section 4,
certificates for the Shares which shall have vested shall be delivered to you or your legal
guardian or representative unless the Company elects to issue the Shares in uncertificated form.

     9. Securities Laws. You hereby make the following certifications and representations
with respect to the Shares:

     You are aware that your investment in the Company is a speculative investment that has limited
liquidity and is subject to the risk of complete loss. You are able, without impairing your
financial condition, to hold the Shares for an indefinite period and to suffer a complete loss of
your investment in the Shares.

     You represent and warrant to the Company that you are acquiring and will hold the Shares for
investment for your account only, and not with a view to, or for resale in connection with, any
“distribution” of the Shares within the meaning of the Securities Act or the similar laws of any
state or foreign jurisdiction.

     You understand that the Shares have not been registered under the Securities Act, the Exchange
Act, or under the similar laws of any state or foreign jurisdiction (collectively, “Applicable
Securities Laws”) by reason of a specific exemption therefrom and that the Shares

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must be held indefinitely, unless they are subsequently registered under the Applicable
Securities Laws or you obtain an opinion of counsel (in form and substance satisfactory to the
Company and its counsel) that registration is not required.

     You acknowledge that the Company is under no obligation to register the Shares under
Applicable Securities Laws.

     You are aware of the adoption of Rule 144 by the Securities and Exchange Commission under the
Securities Act, which permits limited public resales of securities acquired in a non-public
offering, subject to the satisfaction of certain conditions. These conditions may include (without
limitation) that certain current public information about the issuer is available, that the resale
occurs only after the holding period required by Rule 144 has been satisfied, that the sale occurs
through an unsolicited “broker’s transaction” and that the amount of securities being sold during
any three-month period does not exceed specified limitations. You understand that the conditions
for resale set forth in Rule 144 have not been satisfied and that the Company has no plans to
satisfy these conditions in the foreseeable future.

     You will not sell, transfer or otherwise dispose of the Shares in violation of the Plan, the
agreement under which your right to acquire the Shares was granted, Applicable Securities Laws, or
the rules promulgated thereunder, including Rule 144 under the Securities Act.

     You acknowledge that you have received and had access to such information as you consider
necessary or appropriate for deciding whether to invest in the Shares and that you had an
opportunity to ask questions and receive answers from the Company regarding the terms and
conditions of the issuance of the Shares.

     You acknowledge that the Shares will be subject to certain encumbrances, including, but not
limited to, drag along rights in favor of certain stockholders of the Company, repurchase rights in
favor of the Company, limitations on transfer, and other encumbrances set forth in the Plan, the
Restricted Stock Agreement, the Stockholders Agreement, other applicable agreements and/or
described in the Company’s bylaws or certificate of incorporation in effect at such time as the
Company or such other person elects to exercise its or his right.

     You acknowledge that you are acquiring the Shares subject to all other terms of the Plan, the
Grant Notice, the Restricted Stock Agreement and the Stockholders Agreement.

     You agree that prior to the effectiveness of the first underwritten registration of the
Company’s or its Affiliate’s equity securities under the Securities Act, you will not transfer any
or all of the Shares unless pursuant to an exception provided in the Plan, the Restricted Stock
Agreement or the Stockholders Agreement.

     You further agree to make or enter into such other written representations, warranties and
agreements as the Committee may reasonably request in order to comply with Applicable Securities
Laws or with this Agreement.

     10. Market Standoff. You agree that the Company (or a representative of the
underwriters) may, in connection with the first underwritten registration of the offering of any
securities of the Company under the Securities Act, require that you not sell, dispose of,
transfer, make any short sale of, grant any option for the purchase of, or enter into any hedging
or similar transaction with the same economic effect as a sale, any shares of Common Stock or other

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securities of the Company held by you under the Award, for a period of time specified by the
underwriter(s) (not to exceed approximately two hundred fourteen (214) days) following the
effective date of the registration statement of the Company filed under the Securities Act. You
further agree to execute and deliver such other agreements as may be reasonably requested by the
Company and/or the underwriter(s) that are consistent with the foregoing or that are necessary to
give further effect thereto. In order to enforce the foregoing covenant, the Company may impose
stop-transfer instructions with respect to the Shares until the end of such period. In addition,
Shares that are received under your Award are subject to the transfer restrictions set forth in the
Plan and any transfer restrictions that may be described in the Company’s bylaws or charter in
effect at the time of the contemplated transfer.

     11. Legends on Certificates. The certificates representing the vested Shares
delivered to you or registered in your name, as the case may be, as contemplated by Section 8 above
shall be subject to such stop transfer orders and other restrictions as the Committee may deem
advisable under the Plan or the rules, regulations, and other requirements of the Securities and
Exchange Commission, any stock exchange upon which such Shares are listed, and any applicable
Federal or state laws, and the Committee may cause a legend or legends to be put on any such
certificates to make appropriate reference to such restrictions. All certificates representing the
Award shall have affixed thereto a legend in substantially the following form, or such other form
as approved by the Committee, in addition to any other legends that may be required under federal
or state securities laws:

THE SHARES OF STOCK REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON
TRANSFER SET FORTH IN THE AMH INVESTMENT HOLDINGS CORP. 2010 STOCK INCENTIVE PLAN, A
CERTAIN RESTRICTED STOCK AWARD AGREEMENT BETWEEN AMH INVESTMENT HOLDINGS CORP. (THE
“COMPANY”) AND THE REGISTERED OWNER OF THIS CERTIFICATE (OR HIS PREDECESSOR
IN INTEREST), AND THE COMPANY’S STOCKHOLDERS AGREEMENT, AS AMENDED FROM TIME TO
TIME, WHICH PLAN AND AGREEMENTS ARE BINDING UPON ANY AND ALL OWNERS OF ANY INTEREST
IN SAID SHARES. SAID PLAN AND AGREEMENTS ARE AVAILABLE FOR INSPECTION WITHOUT
CHARGE AT THE PRINCIPAL OFFICE OF AMH INVESTMENT HOLDINGS CORP. AND COPIES THEREOF
WILL BE FURNISHED WITHOUT CHARGE TO ANY OWNER OF SAID SHARES UPON REQUEST.

     12. Award Not A Service Contract. Your Award is not an employment or service
contract, and nothing in your Award shall be deemed to create in any way whatsoever any obligation
on your part to continue to serve as an employee, director or consultant to the Company or any of
its Affiliates. In addition, nothing in your Award shall obligate the Company or any Affiliate,
their respective stockholders, boards of directors, officers or employees to continue any
relationship that you might have as an employee, director or consultant or as any other type of
service provider for the Company or any Affiliate. Neither you nor any other person shall have any
claim to be granted any additional Award and there is no obligation under the Plan for uniformity
of treatment of holders or beneficiaries of Awards. The terms and conditions of the Award granted
hereunder or any other Award granted under the Plan (or otherwise) and the Committee’s
determinations and interpretations with respect thereto and/or

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with respect to you and any recipient of an Award under the Plan need not be the same (whether
or not you and any such other recipient are similarly situated).

     13. Withholding Obligations.

          (a) At the time your Award is made, or at any time thereafter as requested by the Company, you
hereby authorize the Company to satisfy its withholding obligations, if any, from payroll or any
other amounts payable to you, and you further agree to make adequate provision for any sums
required to satisfy the federal, state, local and foreign tax withholding obligations of the
Company, if any, which arise in connection with your Award, to the maximum extent permitted by law.
The Committee, in its sole discretion and pursuant to such procedures as it may specify from time
to time, may satisfy such tax withholding obligations, in whole or in part, by withholding
otherwise deliverable Shares having an aggregate Fair Market Value equal to (but not exceeding) the
minimum amount required to be withhold and/or by the sale of Shares to generate sufficient cash
proceeds to satisfy any such tax withholding obligation. You hereby authorize the Committee to
take any steps as may be necessary to effect any such sale and agree to pay any costs associated
therewith, including without limitation any applicable broker’s fees.

          (b) Unless the tax withholding obligations of the Company, if any, are satisfied, the Company
shall have no obligation to issue a certificate for such Shares or release such Shares from any
escrow provided for herein.

     14. Tax Consequences. You acknowledge that you have had the opportunity to review
with your own tax advisors the federal, state, local and/or foreign tax consequences of the
transactions contemplated by this Agreement. You further acknowledge that you are relying solely
on such advisors and not on any statements of the Company or any of its agents. You understand
that you (and not the Company) shall be responsible for your personal tax liability that may arise
as a result of the transactions contemplated by this Agreement. You further understand that it may
be beneficial in certain circumstances to elect to be taxed as of the Grant Date rather than when
the Shares vest by filing an election under Section 83(b) of the Internal Revenue Code of 1986, as
amended (the “Code”) with the Internal Revenue Service within 30 days from the Grant Date.
YOU ACKNOWLEDGE THAT IT IS YOUR RESPONSIBILITY AND NOT THE COMPANY’S TO TIMELY FILE THE ELECTION
UNDER SECTION 83(b) OF THE CODE, EVEN IF YOU REQUEST THE COMPANY OR ITS REPRESENTATIVES TO MAKE
THIS FILING ON YOUR BEHALF. You acknowledge that nothing in this Agreement constitutes tax advice.

     15. Notices. Any notices provided for in your Award or the Plan shall be given in
writing and shall be delivered by hand or sent by Federal Express, certified or registered mail,
return receipt requested, postage prepaid, and shall be deemed effectively given upon receipt or,
in the case of notices delivered by the Company to you, five (5) days after deposit in the United
States mail, postage prepaid, addressed to you at the last address you provided to the Company.

     16. Miscellaneous.

          (a) You agree upon request to execute any further documents or instruments necessary or
desirable in the sole determination of the Company to carry out the purposes or intent of this
Award.

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          (b) You may file with the Committee a written designation of a beneficiary on such form as may
be prescribed by the Committee and may, from time-to-time, amend or revoke such designation. If no
designated beneficiary survives you, your estate shall be deemed to be your beneficiary.

          (c) You acknowledge and agree that you have reviewed your Award in its entirety, have had an
opportunity to obtain the advice of counsel prior to executing and accepting your Award and fully
understand all provisions of your Award.

          (d) The waiver by either party of compliance with any provision of the Award by the other
party shall not operate or be construed as a waiver of any other provision of the Award, or of any
subsequent breach by such party of a provision of the Award.

          (e) The terms of this Agreement shall be binding upon and inure to the benefit of the Company
and its successors and assigns, and shall be binding on you and your beneficiaries, executors,
administrators, heirs and successors.

          (f) The invalidity or unenforceability of any provision of this Agreement shall not affect the
validity or enforceability of any other provision of this Agreement, and each other provision of
this Agreement shall be severable and enforceable to the extent permitted by law.

          (g) This Agreement shall be governed in all respects by the laws of the State of Delaware,
without regard to conflicts of laws principles thereof.

          (h) This Agreement may be signed in counterparts, each of which shall be an original, with the
same effect as if the signatures thereto and hereto were upon the same instrument.

     17. Governing Plan Document and Entire Agreement. Your Award is subject to all
interpretations, amendments, rules and regulations that may from time to time be promulgated and
adopted pursuant to the Plan. In the event of any conflict between the provisions of the Plan and
any other document, the provisions of the Plan shall control. This Agreement, the Plan and the
Stockholders Agreement contain the entire agreement and understanding of the parties hereto with
respect to the subject matter contained herein and supersede all prior communications,
representations and negotiations in respect thereto. No change, modification or waiver of any
provision of this Agreement shall be valid unless the same be in writing and signed by the parties
hereto.

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Attachment II

AMH Investment Holdings Corp.

2010 Stock Incentive Plan

 

 

Attachment III

Form of Assignment Separate from Certificate

 

 

ASSIGNMENT SEPARATE FROM CERTIFICATE

     For Value Received and pursuant to that certain Grant Notice and Restricted Stock
Agreement dated ___________________, between AMH Investment Holdings Corp., a Delaware corporation
(formerly known as Carey Investment Holdings Corp.) and the undersigned, __________________, hereby
sells, assigns and transfers unto AMH Investment Holdings Corp., a Delaware corporation
(“Assignee”), ____________________ (___________) shares of the Common Stock of AMH
Investment Holdings Corp. (“Shares”), standing in the undersigned’s name on the books of
said corporation represented by Certificate No. _______ herewith and do hereby irrevocably
constitute and appoint __________________________ as attorney-in-fact to transfer the said stock on
the books of the within named issuer with full power of substitution in the premises. This
Assignment may be used only in accordance with and subject to the terms and conditions of the
Restricted Stock Agreement, the Plan and the Stockholders Agreement, in connection with the
reacquisition or transfer of the Shares issued to the undersigned pursuant to the Restricted Stock
Agreement, and only to the extent that such Shares remain subject to the Assignee’s rights to
acquire the Shares and other restrictions applicable under the Restricted Stock Agreement, the Plan
and the Stockholders Agreement. Capitalized terms not defined herein shall have the meanings
assigned thereto pursuant to such Restricted Stock Agreement.

Dated:                                         

Signature:                                                             

Print Name:                                                             

     [Instruction: Please do not fill in any blanks other than signing on the signature line and
printing your name beneath it. The purpose of this Assignment is to enable the Company to
administer its rights set forth in the Restricted Stock Agreement, the Plan and the Stockholders
Agreement without requiring additional signatures on your part.]

 

 

Attachment IV

Joint Escrow Instructions

 

 

Joint Escrow Instructions

[Date]

AMH Investment Holdings Corp.

c/o Associated Materials, LLC

3773 State Road

Cuyahoga Falls, Ohio 44223

Dear Sir/Madam:

     As Escrow Agent for both AMH Investment Holdings Corp. (the “Company”), and the
undersigned recipient of stock of the Company (“Recipient”), you are hereby authorized and
directed to hold the documents delivered to you pursuant to the terms of the “Plan” and “Restricted
Stock Agreement” (as referenced in the Grant Notice which this document is attached), in accordance
with the following instructions:

     1. In the event Recipient ceases to render services as an employee, director or consultant to
the Company or an Affiliate during the vesting period(s) set forth in the Grant Notice to which
this document is attached, the Company or its assignee will give to Recipient and you a written
notice specifying that the Shares of stock that are unvested at the time of such termination of
service shall be forfeited by Recipient and transferred to the Company, including any unpaid
dividends (whether in the form of cash or stock) relating to such unvested Shares. Recipient and
the Company hereby irrevocably authorize and direct you to close the transaction contemplated by
such notice in accordance with the terms of said notice.

     At the closing, you are directed (a) to date any stock assignments necessary for the transfer
in question, (b) to fill in the number of Shares being transferred, and (c) to deliver same,
together with the certificate evidencing the Shares of stock to be transferred, to the Company.

     2. In the event that all applicable restrictions lapse, and when certain requirements are
satisfied, the Company or its assignee will give to Recipient and you a written notice specifying
that the appropriate number of Shares shall be transferred to the Recipient along with any cash or
in-kind dividends declared subsequent to the date hereof and which relate to such Shares.
Recipient and the Company hereby irrevocably authorize and direct you to close the transaction
contemplated by such notice in accordance with the terms of said notice.

     At the closing, you are directed to deliver a certificate evidencing the appropriate number of
Shares, together with any cash or in-kind dividends declared subsequent to the date hereof and
which relate to such Shares, to the Recipient.

     3. In the event that (i) certain stockholders of the Company exercise their drag-along rights,
(ii) the Company exercises its repurchase rights, (iii) the Company exercises its rights to require
that the Shares be contributed to a trust, or (iv) the Company or any other person exercises other
contractual rights applicable to the Shares and in effect as of the date hereof, the Company or its
assignee will give to Recipient and you a written notice specifying that the Shares of stock shall
be transferred as described in the Plan, the number of Shares that shall be transferred, the
Recipient’s Restricted Stock Agreement or other applicable governing documents. Recipient and the
Company hereby irrevocably authorize and direct you to close the transaction contemplated by such
notice in accordance with the terms of said notice.

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     At the closing, you are directed (a) to date any stock assignments necessary for the transfer
in question, (b) to fill in the number of Shares being transferred and (c) to deliver same,
together with the certificate evidencing the Shares of stock to be transferred, to the Company or
other proper transferee.

     4. Recipient irrevocably authorizes the Company to deposit with you any certificates
evidencing Shares of stock to be held by you hereunder and any additions and substitutions to said
Shares as specified in the Grant Notice or the Restricted Stock Agreement. Recipient does hereby
irrevocably constitute and appoint you as Recipient’s attorney-in-fact and agent for the term of
this escrow to execute with respect to such securities and other property all documents of
assignment and/or transfer and all stock certificates necessary or appropriate to make all
securities negotiable and to complete any transaction herein contemplated.

     5. This escrow shall terminate upon the date on which all contractual restrictions or
requirements set forth in the Plan or in the documents evidencing the restrictions applicable to
the Shares lapse or are satisfied as determined by the Company.

     6. If at the time of termination of this escrow you should have in your possession any
documents, securities, or other property belonging to Recipient, you shall deliver all of same to
any pledge entitled thereto (if any) or, if none, to Recipient and shall be discharged of all
further obligations hereunder.

     7. Your duties hereunder may be altered, amended, modified or revoked only by a writing signed
by all of the parties hereto.

     8. You shall be obligated only for the performance of such duties as are specifically set
forth herein and may rely and shall be protected in relying or refraining from acting on any
instrument reasonably believed by you to be genuine and to have been signed or presented by the
proper party or parties or their assignees. You shall not be personally liable for any act you may
do or omit to do hereunder as Escrow Agent or as attorney-in-fact for Recipient while acting in
good faith and any act done or omitted by you pursuant to the advice of your own attorneys shall be
conclusive evidence of such good faith.

     9. You are hereby expressly authorized to disregard any and all warnings given by any of the
parties hereto or by any other person or corporation, excepting only orders or process of courts of
law, and are hereby expressly authorized to comply with and obey orders, judgments or decrees of
any court. In case you obey or comply with any such order, judgment or decree of any court, you
shall not be liable to any of the parties hereto or to any other person, firm or corporation by
reason of such compliance, notwithstanding any such order, judgment or decree being subsequently
reversed, modified, annulled, set aside, vacated or found to have been entered without
jurisdiction.

     10. You shall not be liable in any respect on account of the identity, authority or rights of
the parties executing or delivering or purporting to execute or deliver the Grant Notice or any
documents or papers deposited or called for hereunder.

     11. You shall not be liable for the outlawing of any rights under any statute of limitations
with respect to these Joint Escrow Instructions or any documents deposited with you.

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     12. You shall be entitled to employ such legal counsel, including but not limited to Simpson
Thacher & Bartlett LLP, and other experts as you may deem necessary to advise you in connection
with your obligations hereunder, and you may rely upon the advice of such counsel, and may pay such
counsel reasonable compensation for such advice.

     13. Your responsibilities as Escrow Agent hereunder shall terminate if you shall cease to be
Escrow Agent of the Company or if you shall resign by written notice to each party. In the event
of any such termination, the Company may appoint any officer or assistant officer of the Company as
successor Escrow Agent and Recipient hereby confirms the appointment of such successor or
successors as his attorney-in-fact and agent to the full extent of your appointment.

     14. If you reasonably require other or further instruments in connection with these Joint
Escrow Instructions or obligations in respect hereto, the necessary parties hereto shall join in
furnishing such instruments.

     15. It is understood and agreed that should any dispute arise with respect to the delivery
and/or ownership or right of possession of the documents, securities or other property held by you
hereunder you may (but are not obligated to) retain in your possession without liability to anyone
all or any part of said documents, securities or other property until such dispute shall have been
settled either by mutual written agreement of the parties concerned or by a final order, decree or
judgment of a court of competent jurisdiction after the time for appeal has expired and no appeal
has been perfected, but you shall be under no duty whatsoever to institute or defend any such
proceedings.

     16. Any notice required or permitted hereunder shall be given in writing and shall be deemed
effectively given upon personal delivery or upon deposit in the United States mail (or upon deposit
with another delivery service), with postage and fees prepaid, addressed to each of the other
parties hereunto entitled at the following addresses, or at such other addresses as a party may
designate by ten (10) days’ written notice to each of the other parties hereto:

	 	 	 	 

	 

	THE COMPANY:
	 	AMH Investment Holdings Corp.
	 

	 	 	3773 State Rd.
	 

	 	 	Cuyahoga Falls, Ohio 44223
	 

	 	 	Attn: Ms. Cyndi Sobe
	 
	 	 	 
	 

	RECIPIENT:
	 	_________________ 
	 
	 	 	 
	 

	 	 	_________________ 
	 
	 	 	 
	 

	 	 	_________________ 
	 
	 	 	 
	 

	ESCROW AGENT:
	 	AMH Investment Holdings Corp.
	 

	 	 	3773 State Rd.
	 

	 	 	Cuyahoga Falls, Ohio 44223
	 

	 	 	Attn: Ms. Cyndi Sobe

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     17. By signing these Joint Escrow Instructions you become a party hereto only for the purpose
of said Joint Escrow Instructions; you do not become a party to the Notice of Exercise.

     18. This instrument shall be binding upon and inure to the benefit of the parties hereto, and
their respective successors and permitted assigns. It is understood and agreed that references to
“you” or “your” herein refer to the original Escrow Agent and to any and all successor Escrow
Agents. It is understood and agreed that the Company may at any time or from time to time assign
its rights under the Restricted Stock Agreement, the Notice of Exercise and these Joint Escrow
Instructions in whole or in part.

	 	 	 	 	 	 	 

	 	 	Very truly yours,	 	 
	 
	 	 	 	 	 	 
	 	 	AMH Investment Holdings Corp.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 

	 	 

Escrow Agent:

	 	 	 	 	 

	By:
	 	 	 	 
	 

	 	 

	 	 
	Name:
	 	 	 	 
	 

	 	 

	 	 

[Recipient’s signature page to follow.]

4

 

	 	 	 	 	 

	 

	 	 

Recipient
	 	 
	 
	 	 	 	 
	 

	 	 

[signature]
	 	 
	 
	 	 	 	 
	 

	 	 

[print name]
	 	 

	 	 	 

	STATE OF

	 	) 
	 
	 	 
	 

	 	 ss.: 
	 
	 	 
	COUNTY OF

	 	) 

     On the _____ day of _____________ before me personally came to me known and know to me to be
the individual described in, and who executed the foregoing instrument, and (s)he acknowledged to
me that (s)he executed the same.

	 	 	 

	 

	 	 
	 

	 	Notary Public

My term expires:                                         

5

 

Attachment V

Stockholders Agreement

 

 

Attachment VI

Consent of Spouse

 

 

Consent of Spouse

     I, ___________________, spouse of ____________, have read and approve the foregoing Grant
Notice (the “Notice”), and all documents attached thereto. In consideration of the
issuance to my spouse of shares of AMH Investment Holdings Corp., pursuant to the terms and
conditions set forth in the Notice, I hereby appoint my spouse as my attorney-in-fact in respect to
the exercise of any rights under the Notice and agree to be bound by the provisions of the Notice
insofar as I may have any rights in said Notice and any shares granted pursuant thereto under the
community property laws or similar laws relating to marital property in effect in the state of our
residence as of the date of the signing of the foregoing Notice. I have signed this consent
outside of the State of New York.

	 	 	 	 	 

	Dated:                                         

	 	 

[signature]
	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	 

	 	[print name]	 	 

	 	 	 

	STATE OF

	 	) 
	 
	 	 
	 

	 	 ss.: 
	 
	 	 
	COUNTY OF

	 	) 

     On the _____ day of _____________ before me personally came to me known and know to me to be
the individual described in, and who executed the foregoing instrument, and (s)he acknowledged to
me that (s)he executed the same.

	 	 	 

	 

	 	 

Notary Public

My term expires:exv10w1

Exhibit 10.1

INDEMNIFICATION AGREEMENT

     This INDEMNIFICATION AGREEMENT (this “Agreement”) is made this       day
of                                         , 20                    , by and between PROLOGIS, INC., a Maryland
corporation (the “Company”), and                                                              (“Indemnitee”).

RECITALS

      WHEREAS, at the request of the Company, the Indemnitee currently serves as a
director and/or officer of the Company and/or one or more affiliates of the Company and renders
valuable services to, or for the benefit of, the Company; and

     WHEREAS, the Company desires to attract and retain the services of highly qualified
individuals, such as Indemnitee, to serve as directors and officers of the Company and its
affiliates; and

     WHEREAS, both the Company and the Indemnitee recognize the increased legal risks and potential
liabilities to which directors and officers of corporations are subject in connection with their
positions and that liability insurance for directors and officers and statutory indemnification
provisions may be inadequate to provide proper protection to individuals requested to serve as
directors and officers of the Company; and

     WHEREAS, in order to induce Indemnitee to continue to provide services to the Company as an
officer and/or director, the Company desires to provide for the indemnification of, and the
advancement of expenses to, Indemnitee as set forth in this Agreement.

     NOW THEREFORE, in consideration of the foregoing premises, the covenants and agreements
contained herein, and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the Company and the Indemnitee do hereby agree as follows:

	1.	 	Certain Definitions. For purposes of this Agreement the following terms should have
the following meanings:

	 	(a)	 	“Beneficial Ownership” shall have the meaning assigned to such term under Rule
13d-3 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).
“Beneficially Own”, “Beneficial Owner” and other variants thereof shall have
correlative meanings.
	 
	 	(b)	 	“Board of Directors” means the Board of Directors of the Company.
	 
	 	(c)	 	“Bylaws” means the bylaws of the Company, as the same may be amended from time
to time.
	 
	 	(d)	 	“Change in Control” means any of the following events:

 

 

	 	(i)	 	An acquisition of any voting securities of the Company (the
“Voting Securities”) by any “Person” (as the term person is used for purposes
of Section 13(d) or 14(d) of the Exchange Act) immediately after which such
Person has “Beneficial Ownership” of 20% or more of the combined voting power
of the Company’s then outstanding Voting Securities; provided, however, that in
determining whether a Change in Control has occurred, Voting Securities which
are acquired by any Person in a Non-Control Acquisition (as hereinafter
defined) shall not constitute an acquisition which would cause a Change in
Control. A “Non-Control Acquisition” shall mean an acquisition by (1) an
employee benefit plan (or a trust forming a part thereof) maintained by (x) the
Company or (y) any corporation or other Person of which a majority of its
voting power or its equity securities or equity interest is owned directly or
indirectly by the Company (a “Subsidiary”), (2) the Company or any Subsidiary,
or (3) any Person in connection with a Non-Control Transaction (as hereinafter
defined);
	 
	 	(ii)	 	The individuals who, as of the date hereof, are members of the
Board of Directors (the “Incumbent Board”), cease for any reason to constitute
at least two-thirds of the Board of Directors; provided, however, that if the
election, or nomination for election by the Company’s stockholders, of any new
director was approved by a vote of at least two-thirds of the Incumbent Board,
such new director shall, for purposes of this Agreement, be considered a member
of the Incumbent Board; provided further, however, that no individual shall be
considered a member of the Incumbent Board if such individual initially assumed
office as a result of either an actual or threatened “Election Contest” (as
described in Rule 14a-12(c) promulgated under the Exchange Act) or other actual
or threatened solicitation of proxies or consents by or on behalf of a Person
other than the Board of Directors (a “Proxy Contest”) including by reason of
any agreement intended to avoid or settle any Election Contest or Proxy
Contest; or
	 
	 	(iii)	 	Approval by stockholders of the Company of:

	 	(A)	 	A merger, consolidation or reorganization
involving the Company, unless the stockholders of the Company,
immediately before such merger, consolidation or reorganization, own,
directly or indirectly immediately following such merger, consolidation
or reorganization, at least 70% of the combined voting power of the
outstanding voting securities of the corporation resulting from such
merger or consolidation or reorganization (the “Surviving Corporation”)
in substantially the same proportion as their ownership of the Voting
Securities immediately before such merger, consolidation or
reorganization, (ii) the individuals who were members of the Incumbent
Board immediately prior to the execution of the agreement providing for
such merger, consolidation or reorganization constitute at least
two-thirds of the members of the board of directors of the Surviving
Corporation, and (iii) no Person (other than the

2

 

	 	 	 	Company, any Subsidiary, any employee benefit plan (or any trust
forming a part thereof) maintained by the Company, the Surviving
Corporation or any Subsidiary, or any Person who, immediately prior
to such merger, consolidation or reorganization, had Beneficial
Ownership of 15% or more of the then outstanding Voting Securities)
has Beneficial Ownership of 15% or more of the combined voting power
of the Surviving Corporation’s then outstanding voting securities (a
transaction described in clauses (i) through (iii) above shall herein
be referred to as a “Non-Control Transaction”);
	 
	 	(B)	 	A complete liquidation or dissolution of the
Company; or
	 
	 	(C)	 	An agreement for the sale or other disposition
of all or substantially all of the assets of the Company to any Person
(other than a transfer to a Subsidiary).

	 	(iv)	 	Notwithstanding the foregoing, a Change in Control shall not be
deemed to occur solely because any Person (the “Subject Person”) acquired
Beneficial Ownership of more than the permitted amount of the outstanding
Voting Securities as a result of the acquisition of Voting Securities by the
Company which, by reducing the number of Voting Securities outstanding,
increases the proportional number of shares Beneficially Owned by the Subject
Person; provided that if a Change in Control would occur (but for the operation
of this sentence) as a result of the acquisition of Voting Securities by the
Company, and after such share acquisition by the Company, the Subject Person
becomes the Beneficial Owner of any additional Voting Securities which
increases the percentage of the then outstanding Voting Securities beneficially
owned by the Subject Person, then a Change in Control shall occur.

	 	(e)	 	“Charter” means the corporate charter of the Company, as the same may be
amended from time to time.
	 
	 	(f)	 	“Disinterested Director” means a director of the Company who is not and was not
a party to the Proceeding in respect of which indemnification or advance of Expenses is
sought by Indemnitee.
	 
	 	(g)	 	“Expenses” shall mean any and all reasonable expenses, including, without
limitation, reasonable attorneys fees, disbursements and retainers, accounting and
witness fees, travel and deposition costs, transcript costs, fees of experts, expenses
of investigations and court costs, customarily incurred in connection with
investigating, prosecuting, defending, being a witness in or participating in
(including on appeal), or preparing to prosecute or defend, to be a witness or other
participant, in a Proceeding.

3

 

	 	(h)	 	“Indemnifiable Event” shall mean any actual or asserted event or occurrence
related to the fact that Indemnitee is or was a director, officer, employee, agent or
fiduciary of the Company, or is or was serving at the request of the Company as a
director, officer, partner, employee, trustee, manager, member, agent or fiduciary of
another corporation, partnership, limited liability company, association, joint
venture, trust, employee benefit plan or other entity or enterprise, or by reason of
any action or inaction on the part of Indemnitee while serving in such capacity, in
each case whether before or after the date of this Agreement.
	 
	 	(i)	 	“Independent Counsel” means a law firm, or a member of a law firm, that is
experienced in matters of corporation law and neither presently is, nor in the past
five years has been, retained to represent: (i) the Company or Indemnitee in any matter
material to either such party, or (ii) any other party to the Proceeding giving rise to
a claim for indemnification hereunder. Notwithstanding the foregoing, the term
“Independent Counsel” shall not include any person who, under the applicable standards
of professional conduct then prevailing, would have a conflict of interest in
representing either the Company or Indemnitee in an action to determine Indemnitee’s
rights under this Agreement. If a Change of Control has not occurred, Independent
Counsel shall be selected by the Board of Directors, with the approval of Indemnitee,
which approval will not be unreasonably withheld. If a Change of Control has occurred,
Independent Counsel shall be selected by Indemnitee, with the approval of the Board of
Directors, which approval will not be unreasonably withheld, and by such approval, the
Board of Directors shall be deemed to have joined in such selection.
	 
	 	(j)	 	“Proceeding” includes any threatened, pending or completed action, suit,
arbitration, alternate dispute resolution mechanism, investigation, administrative
hearing or any other proceeding (including any appeals in any of the foregoing),
whether civil, criminal, administrative or investigative, except one initiated by an
Indemnitee pursuant to Section 6 of this Agreement to enforce Indemnitee’s rights under
this Agreement.
	 
	 	(k)	 	References herein to “fines” shall include, without limitation, excise taxes
assessed on Indemnitee with respect to any employee benefit plan.

	2.	 	Indemnification.

	 	(a)	 	Indemnification with Respect to Proceedings Other Than Proceedings by or in
the Right of the Company. In the event that Indemnitee was, is or becomes a party
to or witness or other participant in, or is threatened to be made a party to, or
witness or other participant in, any Proceeding (other than a Proceeding by or in the
right of the Company) by reason of (or arising in whole or in part from) an
Indemnifiable Event, the Company shall indemnify the Indemnitee, to the fullest extent
permitted by applicable law, from and against all Expenses, judgments, penalties, fines
and amounts paid in settlement actually and reasonably incurred by Indemnitee, or on
behalf of Indemnitee, in connection with such Proceeding, provided that, in the case of
amounts paid in settlement, any settlement of such Proceeding

4

 

	 	 	 	is approved in advance by the Company in writing, which approval shall not be
unreasonably withheld, delayed or applied in an inconsistent manner.
	 
	 	(b)	 	Indemnification with Respect to Proceedings by or in the Right of the
Company. In the event that Indemnitee was, is or becomes a party to, or witness or
other participant in, any Proceeding brought by or in the right of the Company to
procure a judgment in favor of the Company by reason of (or arising in whole or in part
from) an Indemnifiable Event, the Company shall indemnify Indemnitee, to the fullest
extent permitted by applicable law, from and against all Expenses and amounts paid in
settlement actually and reasonably incurred by Indemnitee, or on behalf of Indemnitee,
in connection with such Proceeding.
	 
	 	(c)	 	Partial Indemnification. If Indemnitee is entitled under any provision
of this Agreement to indemnification by the Company for some portion of the Expenses,
judgments, penalties, fines and amounts paid in settlement of a Proceeding which
Indemnitee was, is or becomes a party to, or witness or other participant in, or is
threatened to be made a party to, or witness or other participant in, by reason of an
Indemnifiable Event, but not, however, for all of the total amount of such Expenses,
judgments, fines, penalties and amounts paid in settlement, the Company will
nevertheless indemnify Indemnitee for the portion thereof to which Indemnitee is
entitled.
	 
	 	(d)	 	Indemnification for Expenses of a Party Who is Wholly or Partly
Successful. Notwithstanding any other provision of this Agreement, to the extent
that Indemnitee is, by reason of an Indemnifiable Event, made a party to and is
successful, on the merits or otherwise, in the defense of, any Proceeding, Indemnitee
shall be indemnified against all Expenses actually and reasonably incurred by
Indemnitee, or on behalf of Indemnitee, in connection therewith. Without limiting any
other rights of Indemnitee in this Agreement, if Indemnitee is not wholly successful in
such Proceeding but is successful, on the merits or otherwise, as to one or more but
less than all claims, issues or matters in such Proceeding, the Company shall indemnify
Indemnitee against all Expenses actually and reasonably incurred by him or on his
behalf in connection with each successfully resolved claim, issue or matter. For
purposes of this Section and without limitation, the termination of any claim, issue or
matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed to
be a successful result as to such claim, issue or matter.

	3.	 	Advance of Expenses. The Company shall advance all Expenses reasonably incurred by or
on behalf of Indemnitee in connection with any Proceeding to which Indemnitee is, or is
threatened to be made, a party or with respect to which Indemnitee is, or is threatened to be
made, a witness or other participant, by reason of (or arising in whole or in part from) an
Indemnifiable Event, whether prior to or after final disposition of such Proceeding, to the
fullest extent permitted by applicable law and without requiring a preliminary determination
as to Indemnitee’s ultimate entitlement to indemnification, within ten days after the receipt
by the Company of a statement or statements from Indemnitee requesting such advance or
advances from time to time. Such statement or statements shall reasonably evidence the
Expenses incurred by Indemnitee and, if required by applicable law,

5

 

	 	 	shall include or be preceded or accompanied by (a) a written affirmation by the Indemnitee
of the Indemnitee’s good faith belief that the standard of conduct necessary for
indemnification by the Company as authorized by law and by this Agreement has been met and
(b) a written undertaking by or on behalf of Indemnitee to repay any Expenses advanced if it
shall ultimately be determined that such standard of conduct has not been met. Any such
undertaking which may be required under this Section 3 shall be an unlimited general
obligation by or on behalf of Indemnitee and shall be accepted without reference to
Indemnitee’s financial ability to make the repayment, need not be secured, and shall not
require the payment of interest on any such advances.

	4.	 	Procedure for Determination of Entitlement to Indemnification.

	 	(a)	 	Request for Indemnification. To obtain indemnification under this
Agreement, Indemnitee shall submit to the Company a written request, including therein
or therewith such documentation and information as is reasonably available to
Indemnitee and is reasonably necessary to determine whether and to what extent
Indemnitee is entitled to indemnification. Promptly upon receipt of such a request for
indemnification, the Company shall cause its Board of Directors to be so advised in
writing that Indemnitee has requested indemnification.
	 
	 	(b)	 	Determination of Right to Indemnification. Upon written request by
Indemnitee for indemnification pursuant to the first sentence of Section 4(a) hereof, a
determination, if required by applicable law, with respect to Indemnitee’s entitlement
thereto shall promptly be made in the specific case: (i) if a Change in Control shall
have occurred, by Independent Counsel in a written opinion to the Board of Directors, a
copy of which shall be delivered to Indemnitee; or (ii) if a Change in Control shall
not have occurred, (A) by the Board of Directors by a majority vote of a quorum
consisting of Disinterested Directors, or (B) if a quorum of the Board of Directors
consisting of Disinterested Directors is not obtainable or, even if obtainable, such
quorum of Disinterested Directors so directs, by Independent Counsel in a written
opinion to the Board of Directors, a copy of which shall be delivered to Indemnitee or
(C) if so directed by a majority of the members of the Board of Directors, by the
stockholders of the Company. If it is determined that Indemnitee is entitled to
indemnification, payment to Indemnitee shall be made within ten days after such
determination. Indemnitee shall cooperate with the person making such determination
with respect to Indemnitee’s entitlement to indemnification, including providing to
such person upon reasonable advance request any documentation or information which is
not privileged or otherwise protected from disclosure and which is reasonably available
to Indemnitee and reasonably necessary to such determination. Any costs or expenses
(including reasonable attorneys’ fees and disbursements) incurred by Indemnitee in so
cooperating with the person making such determination, in response to a request by such
person, shall be borne by the Company (irrespective of the determination as to
Indemnitee’s entitlement to indemnification).

	5.	 	Presumptions and Effect of Certain Proceedings.

6

 

	 	(a)	 	In making a determination with respect to entitlement to indemnification
hereunder, (i) the person making such determination shall presume that Indemnitee is
entitled to indemnification under this Agreement if Indemnitee has submitted a request
for indemnification in accordance with Section 4(a) of this Agreement, and (ii) the
Company shall have the burden of proof to overcome that presumption in connection with
the making of any determination contrary to that presumption.
	 
	 	(b)	 	The termination of any proceeding by judgment, order, settlement, conviction, a
plea of nolo contendere or its equivalent, or an entry of an order of probation prior
to judgment, does not create a presumption that the Indemnitee did not meet the
requisite standard of conduct required under applicable law for indemnification.

	6.	 	Remedies of Indemnitee.

	 	(a)	 	In the event that (i) a determination is made pursuant to Section 4(b) that
Indemnitee is not entitled to indemnification under this Agreement, (ii) advancement of
Expenses is not timely made pursuant to Section 3, (iii) no determination of
entitlement to indemnification shall have been made pursuant to Section 4(b) within
sixty days after receipt by the Company of the request for indemnification, (iv)
payment of indemnification is not made pursuant to Section 2(d) within ten days after
receipt by the Company of a written request therefor, or (v) payment of indemnification
is not made within ten days after a determination has been made that Indemnitee is
entitled to indemnification, Indemnitee shall be entitled to an adjudication in an
appropriate court of the State of Maryland, or in any other court of competent
jurisdiction, of his entitlement to such indemnification or advancement of Expenses.
Neither the failure of the Board of Directors or a committee thereof, or the
stockholders of the Company, or Independent Counsel to have made a determination
pursuant to Section 4(b) that Indemnitee is entitled to indemnification, nor an actual
determination by the Board of Directors or a committee thereof, or the stockholders, of
the Company, or Independent Counsel, that Indemnitee is not entitled to indemnification
shall be a defense to any judicial adjudication sought by Indemnitee or create a
presumption that the Indemnitee is not entitled to indemnification or advancement of
Expenses.
	 
	 	(b)	 	In any judicial proceeding commenced pursuant to this Section 6, the Company
shall have the burden of proving that Indemnitee is not entitled to indemnification or
advancement of Expenses, as the case may be.
	 
	 	(c)	 	If a determination shall have been made pursuant to Section 4(b) of this
Agreement that Indemnitee is entitled to indemnification, the Company shall be bound by
such determination in any judicial proceeding commenced pursuant to this Section 6,
absent (i) a misstatement by Indemnitee of a material fact, or an omission of a
material fact necessary to make Indemnitee’s statement not materially misleading, in
connection with the request for indemnification, or (ii) a prohibition of such
indemnification under applicable law.

7

 

	 	(d)	 	In the event that Indemnitee, pursuant to this Section 6, seeks a judicial
adjudication to establish or enforce Indemnitee’s rights under, or to recover damages
for breach of, this Agreement, Indemnitee shall be entitled to recover from the
Company, and shall be indemnified by the Company against, any and all expenses (of the
types described in the definition of Expenses in Section 1) actually and reasonably
incurred by Indemnitee in connection with such judicial adjudication, regardless of the
outcome of such judicial adjudication unless the court in such judicial adjudication
determines that the material assertions made by Indemnitee in such judicial
adjudication were not made in good faith or were frivolous.

	7.	 	Indemnification Hereunder Not Exclusive. The indemnification provided by this
Agreement shall not be deemed exclusive of, and shall be in addition to, any indemnification
or other rights to which the Indemnitee may be entitled under the Charter, the Bylaws, any
vote of stockholders or Disinterested Directors, applicable law, or otherwise, both as to
action in his official capacity and as to action in another capacity on behalf of the Company
while holding office; provided, however, that to the extent that the Indemnitee otherwise
would have any greater right to indemnification under any provision of the Charter or Bylaws
as in effect on the date hereof, the Indemnitee shall be deemed to have such greater right
hereunder; and provided, further, that to the extent that any change is made to the Charter
and/or Bylaws which permits any greater right to indemnification than that provided under this
Agreement, the Indemnitee shall be entitled to have such greater right hereunder. No
modification or amendment of this Agreement or of any provision hereof shall limit or restrict
any right of Indemnitee under this Agreement in respect of any Indemnifiable Event prior to
such modification or amendment.
	 
	8.	 	Liability Insurance. To the extent that the Company maintains liability insurance for
directors, officers, employees, or agents of the Company or of any other corporation,
partnership, joint venture, trust, employee benefit plan or other entity or enterprise which
such person serves at the request of the Company, Indemnitee shall be covered by such policy
or policies in accordance with its or their terms to the maximum extent of the coverage
available for any such director, officer, employee or agent under such policy or policies.
	 
	9.	 	Subrogation. In the event of any payment under this Agreement, the Company shall be
subrogated to the extent of such payment to all of the related rights of recovery of
Indemnitee against other persons or entities, and Indemnitee shall execute all papers required
and take all action necessary to secure such rights, including execution of such documents as
are necessary to enable the Company to bring suit to enforce such rights.
	 
	10.	 	No Duplication of Payment. The Company shall not be liable under this Agreement to
make any payment of amounts otherwise indemnifiable hereunder if and to the extent that
Indemnitee has otherwise actually received payment of such amount under any insurance policy,
contract, agreement, any provision of the Charter or Bylaws, or otherwise.
	 
	11.	 	Exclusions. Notwithstanding any other provision of this Agreement to the contrary,
the Company shall not be liable for, and the Indemnitee shall not be entitled to,
indemnification or advance of Expenses under this Agreement with respect to: (i) any
settlement or

8

 

	 	 	judgment for insider trading or for disgorgement of profits pursuant to Section 16(b) of the
Exchange Act; or (ii) any Proceeding initiated or brought by Indemnitee, and not by way of
defense (other than an action or proceeding under Section 6 of this Agreement), unless the
bringing of such Proceeding has been approved by the Board of Directors.
	 
	12.	 	Duration of Agreement. This Agreement shall continue until and terminate ten years
after the date that Indemnitee shall have ceased to serve as a director, officer, employee, or
agent of the Company or of any other corporation, partnership, limited liability company,
association, joint venture, trust, employee benefit plan or other entity or enterprise which
Indemnitee served at the request of the Company; provided, that the rights of Indemnitee
hereunder shall continue until the final termination of any Proceeding then pending in respect
of which Indemnitee is granted rights of indemnification or advancement of Expenses hereunder
and of any proceeding commenced by Indemnitee pursuant to Section 6 relating thereto.
	 
	13.	 	Successors and Assigns. This Agreement shall be binding upon the Company and its
successors and assigns and shall inure to the benefit of Indemnitee and his or her spouse,
assigns, heirs, executors, administrators and other legal representatives. The Company shall
require any successor (whether direct or indirect, by purchase, merger, consolidation or
otherwise) to all or substantially all of the business and assets of the Company, by written
agreement, expressly to assume and agree to perform this Agreement in the same manner and to
the same extent that the Company would be required to perform if no such succession had taken
place.
	 
	14.	 	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 this Agreement (including, without limitation,
each portion of any section of this Agreement containing any such provision held to be
invalid, illegal or unenforceable that is not itself invalid, illegal or unenforceable) shall
not in any way be affected or impaired thereby; and (ii) to the fullest extent possible, the
provisions of this Agreement (including, without limitation, each portion of any section of
this Agreement containing any such provision held to be invalid, illegal or unenforceable that
is not itself invalid, illegal or unenforceable) shall be construed so as to give effect to
the intent manifested thereby.
	 
	15.	 	Counterparts. This Agreement may be executed in one or more counterparts, each of
which shall for all purposes be deemed to be an original but all of which together shall
constitute one and the same Agreement. Only one such counterpart signed by the party against
whom enforceability is sought needs to be produced to evidence the existence of this
Agreement.
	 
	16.	 	Headings. The headings of the paragraphs of this Agreement are inserted for
convenience only and shall not be deemed to constitute part of this Agreement or to affect the
construction thereof.
	 
	17.	 	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

9

 

	 	 	any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any
other provisions hereof (whether or not similar) nor shall such waiver constitute a
continuing waiver.
	 
	18.	 	Notice by Indemnitee; Company Participation.

	 	(a)	 	Indemnitee shall promptly notify the Company in writing upon being served with
any summons, citation, subpoena, complaint, indictment, information or other document
relating to any Proceeding or matter which may be subject to indemnification or advance
of Expenses covered hereunder.
	 
	 	(b)	 	With respect to any Proceeding which may be subject to indemnification or
advance of Expenses under this Agreement, unless Indemnitee waives its indemnification
rights under this Agreement with respect to such Proceeding, the Company will be
entitled to participate in the Proceeding at its own expense and, except as otherwise
provided below, if it so elects, the Company may assume the defense of the Proceeding,
with counsel satisfactory to the Indemnitee. After notice from the Company to the
Indemnitee of its election to assume the defense of a Proceeding, during the Company’s
good faith active defense, the Company will not be liable to the Indemnitee under this
Agreement for any Expenses subsequently incurred by the Indemnitee in connection with
the defense of the Proceeding, other than reasonable costs of investigation or as
otherwise provided below. The Company shall not settle any such Proceeding in any
manner which would impose any penalty or limitation on the Indemnitee without the
Indemnitee’s written consent. The Indemnitee shall have the right to employ separate
counsel in any such Proceeding, but the fees the expenses of such counsel incurred
after notice from the Company of its assumption of the defense of the Proceeding shall
be at the expense of the Indemnitee, unless (i) the employment of counsel by Indemnitee
has been authorized by the Company, (ii) the Indemnitee shall have reasonably concluded
that there may be conflict of interest between the Company and the Indemnitee in the
conduct of the defense of the Proceeding, or (iii) the Company shall not in fact have
employed counsel to assume the defense of a Proceeding, in each of which cases the fees
and expenses of Indemnitee’s counsel shall be Expenses for which Indemnitee may receive
indemnification or advances under this Agreement. The Company shall not be entitled to
assume the defense of any Proceeding bought by or on behalf of the Company or as to
which the Indemnitee has reasonably concluded there may be a conflict of interest
between the Company and the Indemnitee.

	19.	 	Notices. All notices, requests, demands and other communications hereunder shall be
in writing and shall be deemed to have been duly given when hand-delivered or dispatched by
electronic mail or facsimile transmission (with receipt thereof orally confirmed) or three
calendar days after having been mailed by United States registered or certified mail, return
receipt requested, postage prepaid or one business day after having been sent for next day
delivery by a nationally recognized courier service, addressed as follows:

	 	(a)	 	If to Indemnitee, to:

10

 

	 	(b)	 	If to the Company, to:

	 	 	 	ProLogis, Inc.

505 Montgomery Street, Fifth Floor

San Francisco, California 94111

Attention: General Counsel

Facsimile: (415) 394-9001

	 	 	or to such other address as may have been furnished to Indemnitee by the Company or to the
Company by Indemnitee, as the case may be.

	20.	 	Affiliated Entities. If Indemnitee is or was serving as a director, officer, partner,
employee, trustee, manager, member, agent or fiduciary of any entity or enterprise (including
any employee benefit plan) affiliated with or related to the Company, he or she will be deemed
to have done so, or be doing so, at the request of the Company.
	 
	21.	 	Services to the Company. Indemnitee will serve, or continue to serve, at the will of
the Company, as an officer or director of the Company and/or one or more affiliates of the
Company for so long as Indemnitee is duly elected or appointed or until Indemnitee tenders his
or her resignation; however, this Agreement shall not impose any obligations on Indemnitee or
the Company to continue Indemnitee’s service to or on behalf of the Company beyond any period
otherwise required by law or by other agreements or commitments of the parties, if any.
	 
	22.	 	Governing Law. This Agreement shall be governed by, and construed and enforced in
accordance with, the laws of the State of Maryland.
	 
	23.	 	Entire Agreement. This Agreement constitutes the entire understanding and agreement
of the parties with respect to the subject matter hereof and supersedes all prior written or
oral negotiations, understandings or agreements between the parties with respect to the
subject matter hereof; provided however that this Agreement is not intended to, and does not,
supersede any indemnification or other rights to which the Indemnitee may be entitled under
the Charter, the Bylaws or applicable law, or pursuant to any employment agreement between
Indemnitee and the Company.

11

 

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the day and year first
above written.

	 	 	 	 	 	 	 

	PROLOGIS, INC.	 	INDEMNITEE	 	 
	 
	 	 	 	 	 	 
	By:
	 	 	 	 	 	 
	Name:

	 	 

	 	 

Name:
	 	 
	Title:
	 	 	 	 	 	 

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