Document:

Tripp Indemnification Agreement

Exhibit
10(aaaa)

INDEMNIFICATION
AGREEMENT

This
Indemnification Agreement (the “Agreement”), made as of December 28, 2004, by
and between FPIC
INSURANCE GROUP, INC., a
Florida corporation (the “Company”), and PAMELA
E. TRIPP, a
director and/or officer of the Company (the “Indemnitee”).

W I T N E S S E T H  
T H A T:

WHEREAS,
the Company desires to retain and attract as directors and officers the most
capable persons available; and

WHEREAS,
the Company and Indemnitee recognize that Indemnitee is unable to acquire
adequate or reliable advance knowledge or guidance with respect to the legal
risks and potential civil liabilities to which she may become personally exposed
as a result of performing her duties in good faith for the Company;
and

WHEREAS,
the Company and Indemnitee recognize that the cost of defending against such
lawsuits, whether or not meritorious, is typically beyond the financial
resources of most individuals; and

WHEREAS,
the Articles of Incorporation and Bylaws of the Company permit the Company to
indemnify its officers and directors to the fullest extent permitted by law;
and

WHEREAS,
Section 607.0850 of the Florida Statutes sets forth certain provisions relating
to the indemnification of officers and directors of a Florida corporation by
such corporation; and

WHEREAS,
the Company desires to have Indemnitee continue to serve as an officer and/or
director of the Company free from any undue concern, from unpredictable,
inappropriate or unreasonable civil risks and personal civil liabilities, by
reason of acting in good faith in the performance of her duties to the Company
and Indemnitee desires to continue to serve as an officer and/or director of the
Company; provided, on the express condition, that she is furnished with the
indemnity set forth herein;

NOW,
THEREFORE, in consideration of the mutual covenants and agreements below and
based on the premises set forth above, the Company and Indemnitee do hereby
agree as follows:

1.    Definitions.
 As
used in the Agreement:

(a)    The term
“Proceeding” shall include any threatened, pending or completed action, suit or
proceeding, whether brought in the name of the Company or otherwise and whether
of civil, administrative or investigative nature, including, but not limited to,
actions, suits, or proceedings brought under and/or predicated upon the
Securities Act of 1933, as amended, and/or the Securities Exchange Act of 1934,
as amended, and/or their respective state counterparts and/or any rule or
regulation promulgated thereunder, in which Indemnitee may be or may have been
involved as a party or otherwise, by reason of any action taken by her or any
inaction on her part while acting as such director and/or officer or by reason
of the fact that she is or was serving at the request of the Company as a
director, officer, employee or agent of another corporation, partnership, joint
venture, trust or other enterprise, whether or not she is serving in such
capacity at the time any liability or expense is incurred for which
indemnification or reimbursement can be provided under this Agreement. The term
“Proceeding” shall not include any criminal action or proceeding.

(b)    The term
“Expenses” includes, without limitation thereto, expenses of investigations,
judicial or administrative proceedings or appeals, amounts paid in settlement by
or on behalf of Indemnitee, attorneys’ fees and disbursements and any expenses
of establishing a right to indemnification under Paragraph 7 of this Agreement,
but shall not include the amount of judgments, fines or penalties actually
levied against Indemnitee and shall not include any Expenses incurred in
connection with any criminal Proceeding.

	 
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(c)    References
to “other enterprise” shall include employee benefit plans; references to
“fines” shall include an excise tax assessed with respect to any employee
benefit plan; references to “serving at the request of the Company” shall
include any service as a director, officer, employee or agent of the Company
which imposes duties on, or involves services by, such director, officer,
employee, or agent with respect to an employee benefit plan, its participants,
or beneficiaries; references to “employee benefit plans” shall include, and not
be limited to, stock option plans, stock award plans, stock purchase plans,
401(k) plans, pension plans, health and welfare plans, and retirement plans; and
a person who acts in good faith and in a manner she reasonably believes to be in
the interest of the participants and beneficiaries of an employee benefit plan
shall be deemed to have acted in a manner “not opposed to the best interests of
the Company” as referred to in this Agreement.

 

2.    Agreement
to Serve. 
Indemnitee agrees to serve or continue to serve as a director and/or officer of
the Company at the will of the Company or under separate contract, as the case
may be, for so long as she is duly elected or appointed or until such time as
she tenders her resignation in writing.

3.    Indemnity
in Third Party Proceedings. The
Company shall indemnify Indemnitee in accordance with the provisions of this
section if Indemnitee is a party to or threatened to be made a party to or
otherwise involved in any Proceeding (other than a Proceeding by or in the name
of the Company to procure a judgment in its favor), by reason of the fact that
Indemnitee is or was a director and/or officer of the Company or is or was
serving at the request of the Company as a director, officer, employee or agent
of another corporation, partnership, joint venture, trust or other enterprise,
against all Expenses, judgments, fines and penalties, actually and reasonably
incurred by Indemnitee in connection with the defense or settlement of such
Proceeding, provided it is determined pursuant to Paragraph 7 of this Agreement
or by the court before which such action was brought, that Indemnitee acted in
good faith and in a manner which she reasonably believed to be in good faith and
in a manner she believed to be in or not opposed to the best interests of the
Company.

4.    Indemnity
in Proceedings By or in the Name of the Company. 
The Company shall indemnify Indemnitee in accordance with the provisions of this
section if Indemnitee is a party to or threatened to be made a party to or
otherwise involved in any Proceeding by or in the name of the Company to procure
a judgment in its favor by reason of the fact that Indemnitee was or is a
director and/or officer of the Company or is or was serving at the request of
the Company as a director, officer, employee or agent of another corporation,
partnership, joint venture, trust or other enterprise against all Expenses
actually and reasonably incurred by Indemnitee in connection with the defense or
settlement of such Proceeding, but only if she acted in good faith and in a
manner which she reasonably believed to be in or not opposed to the best
interests of the Company, except that no indemnification for Expenses shall be
made under this Paragraph 4 in respect of any claim, issue or matter as to which
Indemnitee shall have been adjudged to be liable to the Company, unless and only
to the extent that any court in which such Proceeding is brought shall determine
upon application that, despite the adjudication of liability but in view of all
the circumstances of the case, Indemnitee is fairly and reasonably entitled to
indemnity for such expenses as such court shall deem proper.

5.    Indemnification
of Expenses of Successful Party. 
Notwithstanding any other provisions of this Agreement, to the extent that
Indemnitee has been successful on the merits or otherwise, in defense of any
Proceeding or in defense of any claim, issue or matter therein, including the
dismissal of an action without prejudice, Indemnitee shall be indemnified
against all Expenses incurred in connection therewith.

6.    Advances
of Expenses. 
The Expenses incurred by Indemnitee pursuant to Paragraphs 3 and 4 in any
Proceeding shall be paid by the Company in advance at the written request of
Indemnitee, if Indemnitee shall undertake to repay such amount to the extent
that it is ultimately determined that Indemnitee is not entitled to
indemnification.

7.    Right
of Indemnitee to Indemnification Upon Application; Procedure Upon
Application. 
Any indemnification or advance under Paragraphs 3, 4, and/or 6 hereof shall be
made no later than 45 days after receipt of the written request of Indemnitee,
unless a determination is made within such 45 day period by (a) the Board of
Directors of the Company by a majority vote of a quorum thereof consisting of
directors who were not parties to such Proceedings, or (b) independent legal
counsel in a written opinion (which counsel shall be appointed if such a quorum
is not obtainable), that Indemnitee has not met the relevant standards for
indemnification set forth in Paragraphs 3 and 4.

	 
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The right
to indemnification or advances as provided by this Agreement shall be
enforceable by Indemnitee in any court of competent jurisdiction. The burden of
proving that indemnification or advances are not appropriate shall be on the
Company. Neither the failure of the Company (including its Board of Directors or
independent legal counsel) to have made a determination prior to the
commencement of such action that indemnification or advances are proper in the
circumstances because Indemnitee has met the applicable standard of conduct, nor
an actual determination by the Company (including its Board of Directors or
independent legal counsel) that Indemnitee has met such applicable standard of
conduct, shall be a defense to the action or create a presumption that
Indemnitee has not met the applicable standard of conduct. Indemnitee’s Expenses
incurred in connection with successfully establishing her right to
indemnification or advances, in whole or in part, in any such Proceeding shall
also be indemnified by the Company.

 

8.    Indemnification
Hereunder Not Exclusive. 
The indemnification provided by this Agreement shall not be deemed exclusive of
any other rights to which Indemnitee may be entitled under the Company’s
Articles of Incorporation, Bylaws, or another capacity while holding such
office. The indemnification under this Agreement shall continue as to Indemnitee
even though she may have ceased to be a director and/or officer of the Company
and shall inure to the benefit of the heirs and personal representatives of
Indemnitee.

 

9.    Partial
Indemnification.  If
Indemnitee is entitled under any provision of this Agreement to indemnification
by the Company for some or a portion of the Expenses, judgments, fines or
penalties actually and reasonably incurred by her in the investigation, defense,
appeal or settlement of any Proceeding but not, however, for the total amount
thereof, the Company shall nevertheless indemnify Indemnitee for the portion of
such Expenses, judgments, fines or penalties to which Indemnitee is
entitled.

 

10.    Presumption
of Indemnification. 
For purposes of this Agreement, determination of any Proceeding, suit or
proceeding by any means shall not create a presumption that Indemnitee did not
meet any particular standard of conduct; act in the best interests of the
Company; have any particular belief; or that a court has determined that
indemnification is not permitted by applicable law.

11.    Liability
Insurance.  To
the extent that Company maintains an insurance policy or policies providing
directors’ and officers’ liability insurance, 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 director and/or officer of the
Company.

IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as
of the date first above written.

	 	 	 
	 	FPIC INSURANCE GROUP, INC.
	 
 	 
 	 
 
		By:  	/s/ John
      R. Byers
	 	
      

      John R. Byers, President and Chief Executive Officer
	 	

	 	 	 
	 	INDEMNITEE:
	 
 	 
 	 
 
		By:  	/s/ Pamela
      E. Tripp
	 	
      

      Pamela E. Tripp
	 	

	
      

      

       

      3Form of Stock Option Agreement

Exhibit 10(bbbb)

FPIC
INSURANCE GROUP, INC.

OMNIBUS
INCENTIVE PLAN STOCK OPTION AGREEMENT

THIS
AGREEMENT, made as of______, ____ is by and between FPIC Insurance Group, Inc.,
a Florida corporation (the “Company”), and ________ (the
“Optionee”).

WITNESSETH:

WHEREAS,
the Company maintains the Omnibus Incentive Plan (the “Plan”) for the benefit of
its officers and key employees and the officers and key employees of the
Subsidiaries; and

WHEREAS,
the Company wishes to grant to the Optionee Options under the Plan, on the terms
and conditions set forth in the Plan and as hereinafter provided;

NOW,
THEREFORE, in consideration of the premises, it is agreed as
follows:

	 	
      1.
	
      Definitions

Terms
used in this Agreement that are defined in the Plan shall have the same meaning
as set forth in the Plan.

	 	
      2.
	
      Grant
      of Options

The
Company hereby grants to Optionee _____ Options to purchase _____ Shares at an
Option Price per Share of $_____. Of these Options, _____ will be Incentive
Stock Options pursuant to Section 422 of the Code, and _____ will be
Nonqualified Stock Options.

	 	
      3.
	
      Stock
      Option Terms and Exercise Period

a.  Options
awarded under this Agreement may not be exercised by the Optionee at any time
until such Options are vested as provided in paragraph 4 of this
Agreement.

b.  This
Agreement and the Options issued pursuant thereto shall terminate on the earlier
of (i) the tenth anniversary of the date of this Agreement, (ii) the date such
Options are fully exercised, or (iii) the date determined pursuant to Section 5
hereof following the Optionee's termination of employment.

1

	 	
      4.
	
      Vesting

Subject
to Section 10 hereof and the other provisions of this Section 4, one-third
(rounded up to a whole number) of the Options set forth in paragraph 2 shall
vest on the one year anniversary of the date of this Agreement, with an
additional one-third of the Options vesting on each of the next two
anniversaries of this Agreement, provided the Optionee has remained in the
employ of the Company or a Parent or Subsidiary thereof through the applicable
vesting date, such vesting maximizing Incentive Stock Options pursuant to
Section 422 of the Code, as follows:

	 	 	 	
      Options
      Exercisable

       

	Grant
      Date

       
	Grant
      Type
	Options
      Granted
	Number
      Exercisable
	Date
      Exercisable

	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

The
Optionee shall be 100% vested in all Options awarded under this Agreement (i) if
the Optionee’s termination of employment from the Company is as a result of the
death, Permanent and Total Disability (as that term is defined in Code §
22(e)(3)), or retirement at or after age 65 of the Optionee and/or (ii) as
provided in the Optionee’s employment, severance or other agreement (if
applicable). The Optionee shall forfeit any unvested Options (i) upon
termination of employment for any reason other than the death, Permanent and
Total Disability (as that term is defined in Code § 22(e)(3)) or retirement at
or after age 65 of the Optionee or (ii) except as otherwise provided in the
Optionee’s employment, severance or other agreement (if
applicable).

	 	
      5.
	
      Termination
      of Employment

a.  In the
event the employment of the Optionee is terminated, the Nonqualified Stock
Options hereunder that are vested as of the date of termination of employment
will terminate upon the earlier of (i) the full exercise of the Option, (ii) the
tenth anniversary of the date of this Agreement, or (iii) three years following
the date of termination of employment, and the Incentive Stock Options hereunder
that are vested as of the date of termination of employment will terminate upon
the earlier of (i) the full exercise of the Option, (ii) the tenth anniversary
of the date of this Agreement, or (iii) three months following the date of
termination of employment. 

b.     Notwithstanding
the above, in the event the employment of the Optionee is terminated as a result
of death or Permanent and Total Disability (as that term is defined in Code § 22
(e)(3)) prior to the termination of an Option, such Option may be exercised to
the extent permitted under Section 7.4(c) of the Plan.

c.     Any
portion of the Options hereunder that is unvested on the date of termination of
employment (and that do not become vested on the date of termination of
employment pursuant to Section 4 hereof), shall expire as of the date of
termination of employment.

	 	
      6.
	
      Transferability
      of Options

Except as
provided in the following sentence, this Agreement and the Options granted
hereunder shall not be transferable otherwise than by will or by the laws of
descent and distribution, and shall be exercised, during the lifetime of the
Optionee, only by the Optionee. Notwithstanding the preceding sentence, the
Nonqualified Stock Options granted hereunder may be transferred by the Optionee
during his or her lifetime to any member of his or her immediate family or a
trust established for the exclusive benefit of one or more members of his or her
immediate family or to a former spouse pursuant to a domestic relations order.
For purposes of this Section, the term “immediate family” is defined as the
Optionee’s spouse, children, stepchildren, grandchildren (including
relationships arising from legal adoption), and parents.

2

	 	
      7.
	
      Exercise
      of Options

a.  Options
shall become exercisable at such time as may be provided herein and shall be
exercisable by written notice of such exercise, in the form prescribed by the
Committee, to the Secretary or President of the Company, at its principal
office. The notice shall specify the number of Options that are being
exercised.

b.  Shares
purchased pursuant to this Agreement shall be paid for in full at the time of
such purchase in cash, in Shares, including Shares acquired pursuant to the
Plan, or part in cash and part in Shares. Shares transferred in payment of the
Option Price shall be valued as of the date of transfer based on Fair Market
Value. Subject to prior approval of the Company, and subject to such
restrictions or conditions as the Company may prescribe, Options may also be
exercised with the assistance of a broker.

c.  The
Committee may establish rules regarding the types of Shares the Optionee may
transfer in payment of the Option Price in order to avoid adverse accounting
treatment.

 

		
      8.
	
      Regulation
      by the Committee

This
Agreement and the Options granted hereunder shall be subject to the
administrative procedures and rules as the Committee may adopt. All decisions of
the Committee upon any question arising under the Plan or under this Agreement
shall be conclusive and binding upon the Optionee and any person or persons to
whom Options hereunder have been transferred by will or by laws of descent and
distribution.

	 	
      9.
	
      Rights
      as a Shareholder

The
Optionee shall have no rights as a Shareholder with respect to Options granted
hereunder until certificates for Shares of common stock are issued to the
Optionee.

	 	
      10.
	
      Change
      in Control

a.  Upon a
Change in Control, all Options granted hereunder shall automatically vest as of
the date of such Change in Control and all restrictions or contingencies will be
deemed to have been satisfied.

b.  Upon a
Change in Control, the Options shall remain exercisable until the tenth
anniversary of this Agreement, notwithstanding any termination of employment
occurring prior thereto. 

3

	 	
      11.
	
      Plan
      Terms

The terms
of the Plan are incorporated herein by reference.

	 	
      12.
	
      Governing
      Law and Severability.
      

To the
extent not preempted by Federal law, this Agreement will be governed by and
construed in accordance with the laws of the State of Florida, without regard to
conflicts of law provisions. In the event any provision of this Agreement shall
be held illegal or invalid for any reason, the illegality or invalidity shall
not affect the remaining part of the Agreement, and the Agreement shall be
construed and enforced as if the illegal or invalid provision had not been
included.

	 	
      13.
	
      Effective
      Date of Grant

Each
Option granted under this Agreement shall be effective as of the date of this
Agreement written above.

	
      ATTEST:
	
      FPIC
      INSURANCE GROUP, INC.

	 	 
	 	 
	 	 
	
      _________________________________
	
      By:
      _________________________________

	 	
      Roberta
      Goes Cown

	 	
      Senior
      Vice President and Corporate

	 	
      Counsel

	 	 
	 	 
	
      WITNESS:
	 
	 	 
	 	 
	
      _________________________________
	
      _________________________________

	 	
      ,
      Optionee

 

4

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