Document:

EX-10.39

 Exhibit 10.39 
 EXECUTION VERSION 
 THIS AGREEMENT SHALL ONLY CONSTITUTE A BINDING
AGREEMENT WHEN 
 FULLY SIGNED BY ALL PARTIES AND EXCHANGED BETWEEN THEM. 

STRATEGIC COLLABORATION AGREEMENT 

This Strategic Collaboration Agreement (this “Agreement”) is entered into this 18th day of October, 2015,
and is by and among, on the one hand, Weight Watchers International Inc., a Virginia corporation, having an address at 675 Avenue of the Americas, 6TH Floor, New York, New York 10010 (“WW”); and Oprah Winfrey, an individual having a mailing address at c/o
Harpo, Inc. 1041 North Formosa Avenue, West Hollywood, CA 90046 (“OW”)”. Each of WW and OW is referred to herein as a “Party” and, collectively, as the “Parties”. 

Statement 

WHEREAS, WW is a worldwide business offering services and products to help individuals safely lose weight and maintain a healthy weight;

 WHEREAS, WW is the worldwide owner of the trademarks and service marks listed in Exhibit A, annexed hereto and made a
part hereof, for diet, weight loss and weight maintenance programs, products and services (the “WW Marks”); 

WHEREAS, OW is an internationally well-known media proprietor, talk show host, actress, producer, and philanthropist, the owner of the OW
Image (as defined herein), 
 WHEREAS, Harpo, Inc., an entity wholly owned by OW, is the owner of the trademarks and service
marks listed in Exhibit B, annexed hereto and made a part hereof and OW Licensing Company, LLC, an entity wholly owned by OW, is the owner of rights of publicity associated with OW (collectively, said trademarks, service marks and rights of
publicity are collectively referred to as the “Oprah Marks”), and OW hereunder acts on behalf of Harpo. Inc. and OW Licensing Company, LLC for all matters related to the Oprah Marks; 

WHEREAS, immediately prior hereto or simultaneously herewith, the Parties have entered into or are entering into that certain Term Sheet
for Consulting Stock Option Awards and that certain Share Purchase Agreement, among other related agreements (collectively, the “Other Agreements”), as the case may be, all on the terms and conditions set forth in greater detail in the
Other Agreements; 
 WHEREAS, incident to the Other Agreements, the Parties are entering into this Agreement, pursuant to which
(i) WW will grant to OW the right to use one or more of the WW Marks, (ii) OW will grant to WW the right to use one or more of the Oprah Marks and the OW Image, and (iii) OW will provide to WW (and its designees, including direct and
indirect subsidiaries) certain services, and the Parties will collaborate with each other; in each case, all on the terms, conditions and limitations specifically set forth herein; 

 NOW THEREFORE, in consideration of the mutual promises and covenants set forth herein, and
in the Other Agreements, and for other good and valuable consideration, the exchange and sufficiency of which is hereby acknowledged, the Parties agree as follows: 
  

	1.	Certain Definitions. 

  

	 	1.1	“Advertising Channels” means all media, now known or hereinafter devised, including but not limited to, television, radio, print, outdoor, b-roll video,
Internet, interaction with the press and media, stores and meeting rooms, WW’s websites, third party websites, and public and investor relations, social media platforms (including Facebook, Twitter, Instagram, YouTube, Pinterest, and similar
media now known or hereinafter developed), in flight, direct to consumer, jumbotrons, sales films, internal, corporate and industrial uses, meetings or events sponsored and/or attended by WW, electronic, digital, mobile, including personal handheld
devices (e.g., tablets, iPads and similar devices), and consumer and trade print. 

  

	 	1.2	“Losses” means losses, claims, causes of action, demands, damages, obligations, penalties, fines, suits, assessments, judgments, liabilities, costs or
expenses whatsoever (including reasonable attorneys’ fees, including any incurred in enforcement of any provision of this Agreement). 

  

	 	1.3	“Marks” means, as used in each instance, either the WW Marks or the Oprah Marks. 

 

	 	1.4	“Materials” means all tangible materials disseminated by or through any one or more of the Advertising Channels, including, without limitation, programs,
program materials, press materials, printed materials, press kits, news releases, filmed or recorded interviews, books, recipes, newsletters/columns, web site content, software applications, b-roll footage, scripts, story boards, advertising,
promotional materials, commercials, videos, photographs, catalogs, packages, point of sale displays, posters, sound recordings, voice-overs, artwork, coloration, packaging, designs, graphics, labels, boxes, bags, tags, wrappers, cartons, containers,
wrapping, and any and all other visual and oral content, created hereunder. 

  

	 	1.5	“OW Image” means OW’s name (in whole or in part), image, photograph, likeness, statement, persona, voice, signature, endorsement, and biography.

  

	 	1.6	“Oprah Marks” shall have the meaning set forth in the preamble. 

  

	 	1.7	“Permitted Uses” means the right to use, publish, transmit, license, disseminate, distribute and otherwise exploit the WW Marks, the Oprah Marks, and the OW
Image, on or in connection with Materials disseminated in and through the Advertising Channels, in each case, on the terms, conditions and limitations set forth herein. 

 

	 	1.8	“Weight Management Products” means any business, program, products, services or endeavor related to diet, weight loss or weight management activities.

  
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	 	1.9	“Weight Watchers Programs” means the Weight Management Products and other similar or related programs, products, services and regimes designed, defined,
marketed or adopted by WW, as may be developed, modified, and amended by WW, in its sole discretion, from time to time. 

  

	 	1.10	“WW Marks” shall have the meaning set forth in the preamble. 

  

	2.	Grants. 

  

	 	2.1	Reciprocal Grant of Rights. 

  

	 	2.1.1.	OW hereby grants to WW the right and license to make all Permitted Uses of the Oprah Marks (pursuant to a royalty-free license to OW from Harpo, Inc. and OW Licensing
Company, LLC) for and in connection with the Weight Watchers Programs, collaborating with OW in the enhancement of the Weight Watchers Programs and in connection with supporting and promoting WW, in each case, subject to OW’s prior review and
approval, as set forth herein. 

  

	 	2.1.2.	OW hereby grants to WW the right and license to make all Permitted Uses of the OW Image (pursuant to a royalty-free license to OW from Harpo, Inc. and OW Licensing
Company, LLC) for and in connection with the Weight Watchers Programs, collaborating with OW in the enhancement of the Weight Watchers Programs, and in connection with supporting and promoting WW, in each case, subject to OW’s prior review and
approval, as set forth herein. 

  

	 	2.1.3.	WW hereby grants to OW the right and license to make all Permitted Uses of the WW Marks for and in connection with promoting the Weight Watchers Programs, collaborating
with WW in the enhancement of the Weight Watchers Programs, in connection with performing any or all of the services (as set forth herein), and in connection with supporting and promoting WW, in each case, subject to WW’s prior review and
approval, as set forth herein. 

  

	 	2.1.4.	All Permitted Uses in Materials of each and all of the Oprah Marks and the OW Image shall be submitted to OW (or her specified designee, who shall act on her behalf and
be subject to all obligations of confidentiality with respect to the Confidential Information (as defined herein)) for prior review and approval. Either approval or disapproval (which must include all reasons for disapproval and the means to address
them) shall be provided in writing as soon as commercially practicable. All re-submissions shall likewise be addressed as soon as commercially practicable. All Materials not approved in writing shall be deemed disapproved. 

 

	 	2.1.5.	 All Permitted Uses in Materials of the WW Marks shall be submitted to WW for prior review and approval. Either approval or disapproval (which

  
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must include all reasons for disapproval and the means to address them) shall be provided in writing as soon as commercially practicable. All re-submissions shall likewise be addressed as soon as
commercially practicable. All Materials not approved in writing shall be deemed disapproved. 

  

	 	2.1.6.	For the avoidance of doubt, WW shall have the right to use and refer, without OW’s prior approval under this Agreement, to any one or more of the Oprah Marks and
the OW Image in connection with discharging any of WW’s responsibilities for making any public disclosures, public or governmental filings, and otherwise to comply with any law, rule, regulation or requirement applicable to WW, as WW deems
reasonably necessary in its public company reporting. Notwithstanding the foregoing, WW shall exercise all reasonable efforts to consult in advance with OW with respect to the use of the Oprah Marks and the OW Image for such public company
reporting, and to consider in good faith OW’s comments with respect thereto. 

  

	 	2.2	Collaboration and Consulting Services. 

  

	 	2.2.1.	OW and WW will collaborate with each other towards the mutual objective of advancing and promoting the Weight Watchers Programs and WW, and in connection therewith, OW
shall consult with WW and provide the services described herein (including making appearances, as described below), and shall consult with WW and participate in developing, planning, executing and enhancing the Weight Watchers Programs and related
initiatives. In connection therewith, OW (and her designated staff, which shall act on her behalf and subject to all obligations of confidentiality with respect to the Confidential Information hereunder) shall consult and participate in the design,
creation, planning, execution of creative strategy, development of the Materials and Advertising Channels, and the related execution of the consumer experience in connection with the Weight Watchers Programs. 

 

	 	2.2.2.	In connection with such collaboration, OW shall participate in the development and execution of the 2016 Weight Watchers Program (including Materials); provided,
however, that the Parties acknowledge that such collaboration is already ongoing with respect to the 2016 Weight Watchers Program, which is intended to launch in December 2015. 

 

	 	2.2.3.	At OW’s request, the CEO of WW shall be available to make any in-person presentation and “top to bottom” review and presentation of WW’s activities
and results no less frequently than quarterly in each annual period. 

  

	 	2.2.4.	 OW shall be a member of the Weight Watchers Programs and shall be available to make personal appearances on behalf of WW, and participate in activities

  
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such as appearing in advertisements and promotions, as OW determines appropriate and as the Parties may mutually agree, subject to OW’s availability, as applicable. 

 

	 	2.2.5.	In the event that OW (or OW’s designee if such designee shall have been requested by WW) is required to travel in connection with providing the services under this
Agreement, the Parties will discuss and agree upon, in advance, all travel and accommodations required by OW (or, as applicable, her designee), and the amount of any costs or fees, if any, to be borne by WW in connection therewith. Any and all
travel plans, costs, fees and responsibilities shall be only as mutually agreed between the Parties. For the avoidance of doubt, any such travel obligations, costs or fees for the same for OW shall be separate and apart from any such travel required
for participation on WW’s Board. 

  

	 	2.2.6.	OW shall use all reasonable efforts, in her discretion, to make reference to and be publicly supportive of WW and the Weight Watchers Programs. Any public statements by
OW regarding diet, weight loss or weight management shall be consistent with any of the Weight Watchers Programs. 

  

	3.	Term. 

  

	 	3.1	Initial Term. The term of this Agreement shall commence upon the full execution and exchange of this Agreement, and shall continue for an initial term of five
(5) years, (the “Initial Term”), unless sooner terminated as provided herein. 

  

	 	3.2	Renewal Term. This Agreement shall be automatically renewed and extended, for successive additional periods of one (1) year, each commencing upon the
expiration of the Initial Term (each a “Renewal Term”, and together, the “Renewal Terms”), until such time as (i) either WW or OW provides the other Party with no less than six (6) months written notice of its intent
not to extend this Agreement for the next Renewal Term, in which case, this Agreement shall terminate and expire at the end of the Initial Term or the then-current Renewal Term, or (ii) this Agreement is not otherwise sooner terminated in
accordance with its terms. All terms and conditions of this Agreement shall remain in full force and effect for the Renewal Terms, if any, unless OW and WW mutually agree otherwise in writing signed by or on behalf of all such Parties and exchanged
between them. The Initial Term, together with any Renewal Terms, shall constitute the “Term.” 

  

	 	3.3	 No Usage after the Term; Run-Off. Upon expiration or termination of this Agreement, it is understood that WW shall have no further right to
continue to create, use or disseminate Materials incorporating the Oprah Marks or the OW Image; provided, however, that (i) in the event of the expiration of this Agreement pursuant to Section 3.2 hereof, WW shall have the right to
continue to use and disseminate printed Materials incorporating the Oprah Marks or the OW Image 

  
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existing as of such date through all Advertising Channels for the remainder of the then-current calendar year, and (ii) in the event of other termination of this Agreement, WW shall have the
right to continue to use and disseminate printed Materials incorporating the Oprah Marks or the OW Image existing as of such date through all Advertising Channels for a period that shall be the longer of (a) six (6) months from the date of
written notice, and (b) from the date of such written notice through the remainder of the then-current calendar year (in each case, the “Run-Off Period”). WW will not create any new printed Materials using the Oprah Marks or the OW
Image during the Run-Off Period. The Parties confirm that after the expiration or termination of this Agreement, any continued use by third parties of any such Materials that were already disseminated by or on behalf of WW in accordance with this
Agreement shall not constitute a breach by WW hereunder, however WW shall use good faith efforts to remove and destroy such Materials, subject to any applicable Run-Off Period. Notwithstanding anything to the contrary contained herein, WW may
continue to retain in its archival files any materials incorporating one or more of the Oprah Marks and the OW Image, including the Materials, but no further use may be made thereafter without OW’s written approval. Nothing herein shall prevent
WW from using or re-using, in perpetuity and without limitation, any Materials where the Oprah Marks and OW Image, as applicable, have been removed. 

  

	 	3.4	Notwithstanding anything to the contrary contained herein, this Agreement shall automatically terminate and expire in the event of the failure of the Closing Date (as
such term is defined in the Other Agreements) to occur prior to November 18, 2015. 

  

	4.	Non-Competition. 

  

	 	4.1	Other Products. During the Term of this Agreement, OW agrees not to provide to any person or entity other than WW any right or license to use or otherwise
exploit the Oprah Marks and the OW Image for or in connection with any weight loss programs or weight maintenance programs other than the Weight Watchers Programs. For purposes of clarity, and as examples only and without limitation, OW shall have
no restriction of any kind with respect to speeches, seminars, tours, books, television programs, digital information, endorsements, social media, or any other media offerings, activities, or endeavors of any kind, now or hereafter known, which are
authored or created by OW or under OW’s authority, or which utilize Oprah Marks or the OW Image, with respect to diet, healthy living, spirituality, faith, recipes, cooking, lifestyle, foods and food products provided however that to the extent
weight loss or weight management is relevant to any such activities, OW may freely address issues of weight loss and weight maintenance, so long as OW does not endorse or advocate for weight loss or weight maintenance approaches other than Weight
Watchers Programs. 

  

	 	4.2	 Competitive Restrictions. During the Term of this Agreement, and one (1) year after the expiration or termination of this Agreement,
neither OW nor its designees, directly or indirectly, (whether individually or as an owner, partner, 

  
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joint venture, stockholder, employee, broker, agent, principal, trustee, corporate officer, director, licensor, or in any other capacity whatsoever), shall engage in (or induce or solicit any
third party to engage in), any Weight Management Products other than the Weight Watchers Programs. 

  

	5.	Non-Disparagement; Ownership. 

  

	 	5.1	Non-Disparagement. Each Party acknowledges the value and goodwill associated with the other Party’s Marks and agrees that it will use and refer to the other
Party’s Marks in a manner designed to protect and enhance the reputation and integrity of such Marks and, as applicable, the OW Image. Each Party shall not exercise the rights granted under this Agreement in any manner that would dilute,
denigrate or otherwise diminish the value, the goodwill or the reputation associated with the other Party’s Marks or, as applicable, the OW Image. No Party will make any statements or comments of a defamatory or disparaging nature to third
parties regarding the other Party or its officers, directors, personnel, shareholders, services or products. To the extent any rights in and to the either Party’s Marks are deemed to accrue to the other Party, as a matter of law or otherwise,
each Party hereby assigns any and all such rights in and to the other Party’s Marks, at such time as they may be deemed to accrue, including all related goodwill, to the other Party, as applicable. 

 

	 	5.2	Ownership of the WW Marks. OW acknowledges and agrees that WW owns exclusively all of the intellectual property rights and all other right, title and interest in
and to the WW Marks and the goodwill pertaining thereto, and that all rights, including any ownership interests, accruing from use by OW (or any of its designees) accrues exclusively to WW. OW agrees that it shall not, at any time during the Term of
this Agreement or after its expiration or termination, contest the validity of WW’s ownership of or ability to control the WW Marks. OW acknowledges and agrees that its right to use the WW Marks derives solely from this Agreement and is limited
to the uses expressly permitted hereunder, all solely pursuant to and in compliance with this Agreement, and that OW will not obtain any additional right, title or interest in or to any of the WW Marks by reason of its licensed use.

  

	 	5.3	Ownership of the Oprah Marks. WW acknowledges and agrees that OW ( or its related entities) owns exclusively all of the intellectual property rights and all
other right, title and interest in and to the Oprah Marks and the goodwill pertaining thereto, and that all rights, including any ownership interests, accruing from use by WW (or any of its designees, including direct and indirect subsidiaries)
accrues exclusively to OW ( or its related entities). WW agrees that it shall not, at any time during the Term of this Agreement or after its expiration or termination, contest the validity of OW’s or its related entities’ ownership of or
ability to control the Oprah Marks. WW acknowledges and agrees that its right to use the Oprah Marks derives solely from this Agreement and is limited to the uses expressly permitted hereunder, all solely pursuant to and in compliance with this
Agreement, and that WW will not obtain any additional right, title or interest in or to any of the Oprah Marks by reason of its licensed use. 

  
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	 	5.4	Ownership of Newly Developed Names or Marks. In the event that, as part of the collaboration among the Parties described herein, one or more new names or marks
is developed (whether or not actually used) (the “New Names”), such New Names shall be owned by and shall be the sole and exclusive property of WW (or its designees, including direct and indirect subsidiaries); and WW shall have the right
to register and claim the New Names in any manner, in any form and in any country, in its own name; provided, however, that any New Names shall thereupon be added to and included within the definition of WW Marks hereunder (and subject to the
license to OW hereunder) during the Term. Notwithstanding the foregoing, unless OW shall provide written approval, no use of the Oprah Marks or OW Image, nor any reference to OW indirectly without use of the Oprah Marks or OW Image, may be included
in any New Names. 

  

	 	5.5	Ownership of New Programs. In the event that, as part of the collaboration among the Parties described herein, enhancements are made, new features are added, or
new plans introduced as Weight Watchers Programs (the “New Programs”), such New Programs shall be owned by and be the sole and exclusive property of WW (or its designees, including direct and indirect subsidiaries); and WW shall have the
right to register and claim any proprietary protection (including patents, trademarks, copyrights and trade secrets) in the New Programs in its own name (or in the name of its designees, including direct and indirect subsidiaries); provided,
however, that any New Programs shall be added to and included in the definition of the Weight Watchers Programs hereunder. Notwithstanding the foregoing, unless OW shall provide written approval, no use of the Oprah Marks or OW Image, nor any
reference to OW indirectly without use of the Oprah Marks or OW Image, may be included in any New Programs. 

  

	 	5.6	 Ownership of Materials. Any trademarks, service marks, trade secrets, trade names, copyrights, design rights, patents or similar proprietary
right that may be created in or in connection with any Materials (including in connection with any New Names or New Programs), or otherwise under this Agreement, shall be the sole property of WW. OW shall do any and all acts reasonably required by
WW to confirm such ownership by WW and to preserve, maintain, protect and enforce said rights, at WW’s cost. WW shall own, from inception, all Materials, and OW agrees to provide any and all confirmation in writing as reasonably requested by or
on behalf of WW to confirm such ownership by WW. All Materials that qualify for treatment as “works made for hire” within the meaning of 17 U.S.C. Section 101, shall be treated as such for the benefit of WW. To the extent that any
portion of such Materials is not a work made for hire, OW hereby completely, irrevocably and without reservation assigns to WW, all right, title and interest in and to such portion of the Materials, as well as all related copyright, patent, trade
secret and other proprietary rights therein. WW shall have the full and unfettered right to secure copyright and trademark registrations in its own name for the Materials and any versions or revisions thereof. Notwithstanding the foregoing,

  
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in the event such Materials, with OW’s written approval, include the Oprah Marks or OW Image, WW shall not hereby claim any right or ownership in any of the Oprah Marks or the OW Image, and
OW (or its designee) shall own all right, title and interest in the Oprah Marks and the OW Image. 

  

	 	5.7	OW shall execute and deliver and any all written instruments reasonably requested by or on behalf of WW to confirm the ownership of any New Names and New Programs by WW
(or its designees, including direct and indirect subsidiaries). 

  

	6.	Effect of Expiration. 

  

	 	6.1.1.	Upon expiration or termination, each Party shall immediately discontinue all use of the other Party’s Marks and any variation or simulation thereof, subject to
Section 3.3 hereof. 

  

	 	6.1.2.	OW (or its designee) shall either (i) deliver to WW (or its designee) free of charge, all materials supplied to OW from WW, (ii) all Materials bearing or
incorporating any WW Marks, (iii) all of WW’s Confidential Information, and (iv) at WW’s option, destroy all such materials and deliver written confirmation of such destruction. 

 

	 	6.1.3.	WW (or its designee) shall either (i) deliver to OW (or its designee) free of charge, all materials supplied to WW from OW, (ii) all Materials bearing or
incorporating any Oprah Marks, (iii) all of Oprah’s Confidential Information, and (iv) at OW’s option, destroy all such materials and deliver written confirmation of such destruction, in each case, subject only to
Section 3.3. hereof. 

  

	7.	Representation and Warranties. 

  

	 	7.1	Representations of OW. OW represents and warrants that (a) OW is not nor will she be subject to any obligation, legal disability or restriction which will
or might prevent OW from fully complying with their respective obligations hereunder or which will create any liability on the part of WW; (b) the performance by each of OW of her obligations hereunder will not violate any agreement nor be
inconsistent with any other obligation of OW, or infringe upon or violate the rights of any third parties; (c) OW will ensure that Harpo, Inc. and OW Licensing Company, LLC will not act in any manner that compromises or is inconsistent with
OW’s obligations with respect to the use of the Oprah Marks and the OW Image under this Agreement, and (d) OW shall not make any public statement regarding, or endorsement of, WW, the WW Marks or the Weight Watchers Programs in a manner
where such statement or endorsement (i) is false or misleading, (ii) fails to properly disclose (as required by law and using substantially the terms provided by WW, if any) OW’s relationship to WW, the WW Marks, or the Weight
Watchers Programs, as applicable, or (iii) is otherwise in violation of applicable law, regulation or regulatory guidelines, including without limitation, the FTC Guides Concerning the Use of Endorsements and Testimonials in Advertising.

  
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	 	7.2	Representations of WW. WW represents and warrants that (a) WW is not nor will WW be subject to any obligation, legal disability or restriction which will or
might prevent WW from fully complying with its obligations hereunder or which will create any liability on the part of OW; (b) the performance by WW of its obligations hereunder will not violate any agreement nor be inconsistent with any other
obligation of WW, or infringe upon or violate the rights of any third parties; and (c) WW shall not make any public statement regarding, or endorsement of, OW, the Oprah Marks or the OW Image in a manner where such statement or endorsement
(i) is false or misleading, (ii) fails to properly disclose (as required by law and using substantially the terms provided by WW, if any) WW’s relationship to OW, the Oprah Marks or the OW Image, as applicable, or (iii) is
otherwise in violation of applicable law, regulation or regulatory guidelines, including without limitation, the FTC Guides Concerning the Use of Endorsements and Testimonials in Advertising. 

 

	 	7.3	Commissions. OW represents and warrants that WW shall not be under any obligation for the payment of any commissions to any agents or brokers on account of this
Agreement or the services to be rendered by OW hereunder. 

  

	8.	Indemnification. 

  

	 	8.1	WW shall indemnify, defend and hold harmless OW and its past, current and future parents, subsidiaries, affiliates, officers, directors, principals, employees,
attorneys, agents and representatives, and their respective predecessors, successors and assigns individually and in the aggregate, from and against and in respect of any and all Losses, to the fullest extent permitted by law for which they or any
of them may become liable, arising out of or resulting from (i) the falsity or inaccuracy of any material representation or warranty made by WW herein, (ii) the use of any of the WW Marks in accordance with the terms herein, (iii) the
negligence or willful misconduct of WW or (iv) any use, advertising or promotion of the Weight Watchers Programs. 

  

	 	8.2	OW shall indemnify, defend and hold harmless WW and its past, current and future parents, subsidiaries, affiliates, officers, directors, principals, employees,
attorneys, agents and representatives, and their respective predecessors, successors and assigns individually and in the aggregate, from and against and in respect of any and all Losses, to the fullest extent permitted by law for which they or any
of them may become liable, arising out of or resulting from (i) the falsity or inaccuracy of any material representation or warranty made by OW herein, (ii) the use of the Oprah Marks in accordance with the terms herein, (iii) the use
of the OW Image in accordance with the terms herein, and (iv) the negligence or willful misconduct of OW. 

  
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	 	8.3	If any person or entity asserts any notice, claim, proceeding, or brings any suit or action for which WW, on the one hand, and OW, on the other hand (each an
“Indemnifying Party”) may be required to indemnify the other such Party (including their current and future parents, affiliates, and subsidiary companies) (the “Indemnified Party”) under Section 8.1 or 8.2, the Indemnified
Party promptly shall notify the Indemnifying Party of such claim or suit. The Indemnifying Party, upon receipt of such notice, shall undertake in conjunction with the Indemnified Party (if the Indemnified Party desires) the defense of such suit or
the settlement of any such claim at the Indemnifying Party’s own cost and expense. The Indemnifying Party shall have the right to control at any time on its own behalf, the settlement or defense of any such notice, claim, proceeding, suit or
action with its own counsel and at its own expense; provided however, that nothing shall preclude the Indemnified Party from also retaining counsel of its choice at its sole expense. Under no circumstances shall the Indemnifying Party settle,
compromise, or otherwise enter into any agreement regarding the disposition of any such claims without the prior written consent and approval of the Indemnified Party, which shall not be unreasonably withheld or delayed. 

 

	9.	Jurisdiction, Governing Law. 

  

	 	9.1	Governing Law. This Agreement and all claims (including without limitation claims based in contract, statute or tort) arising out of or relating to this
Agreement, its interpretation, validity and enforcement shall be governed by, and construed and interpreted in accordance with, the law of the State of New York applicable to contracts made, and to be performed wholly, in the State of New York.
All disputes between OW, on the one hand, and WW, on the other, shall be addressed and adjudicated in federal district court for the Southern District of New York in New York City (New York County) and the Parties hereby waive any objection either
could raise with respect to convenience, suitability or appropriateness of such forum. 

  

	10.	Miscellaneous. 

  

	 	10.1	Notices. All notices, requests, consent, demands (including service of process), approvals and other communications hereunder shall be deemed to have been duly
given, made or served if in writing and delivered personally or sent by overnight carrier or by e-mail transmission with receipt confirmed, to the respective parties to this Agreement as follows: 

 

	 	  	If to OW: 

 c/o Harpo, Inc.

 1041 North Formosa Avenue 
 West Hollywood, CA 90046 
  

	 	  	with a copy to: 

  
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 Loeb & Loeb LLP 

345 Park Avenue 

New York, NY 10154 
 (212) 407-4000 
 Attn: Marc Chamlin, Esq. 

mchamlin@loeb.com 
  

	 	  	If to WW: 

 Weight Watchers
International, Inc. 
 675 Avenue of the Americas,
6TH Floor 

New York NY 10010 
 Telephone: (212) 817-4277 
 Attn: General Counsel 

E-Mail: michael.colosi@weightwatchers.com 
  

	 	  	with a copy to: 

 Katten Muchin
Rosenman LLP 
 575 Madison Avenue 
 New York, NY 10022 
 Telephone: (212) 940-8800 

Attn: Karen Artz Ash, Esq. 
 E-Mail: karen.ash@kattenlaw.com 
  

	 	10.2	Relationship of Parties. Nothing herein contained shall be deemed to create under this Agreement an agency, joint venture, partnership or franchise relationship
between WW, on the one hand, and OW, on the other hand. OW acknowledges that OW (including each of her designees) are independent contractors, and are not agents or employees of WW, are not entitled to any WW employment rights or benefits and are
not authorized to act on behalf of WW. OW shall be solely responsible for any and all tax obligations of OW, including but not limited to, all city, state and federal income taxes, social security tax and other self-employment taxes incurred by OW,
and WW shall not be responsible for withholding any such taxes. 

  

	 	10.3	Assignability. This Agreement is of a personal nature with respect to OW, and therefore, neither this Agreement nor any of the rights, obligations, and
commitments of OW hereunder may be sublicensed, granted, assigned, transferred or encumbered. Nothing herein, however, shall affect WW’s rights to assign, transfer, or otherwise encumber this Agreement or any of its rights hereunder in its sole
discretion, provided that WW’s obligations shall continue to remain in full force hereunder and no such assignment shall grant or permit the right to use the Oprah Marks and OW Image except in accordance with the terms hereof and only with
respect to the Weight Watchers Programs as approved hereunder by OW. Except as otherwise provided herein, this Agreement shall inure to the benefit of and shall be binding upon OW and WW, respectively, and their permitted successors, assigns and
heirs. 

  
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	 	10.4	Public Announcements Concerning this Agreement. All press releases or other written public communications of any sort relating to this Agreement and the
consummation of the transactions contemplated hereby, or any transactions arising therefrom, will be subject to the prior written mutual approval of the Parties; provided, however, that nothing herein will prevent WW (including its designees,
including direct and indirect subsidiaries) from making public announcements, releases or disclosures to the extent required to comply with the requirements of any law, rule, regulation or any listing agreement with any securities exchange or, as WW
may otherwise deem necessary as a publicly traded company. 

  

	 	10.5	Confidential Information. OW acknowledges that all information relating to the business and operations of WW which is disclosed to one or both of them, or which
one or both of them acquires, during the Term of this Agreement, including without limitation, any data, programs, campaigns, materials, records, papers, documents, questions, guides, transcripts, findings, studies, databases, surveys, results,
presentations, reports, analyses, customer, client or user information, experience, formulae, methods, processes, techniques, strategies and business plans are valuable, proprietary information of WW (“Confidential Information”). For
purposes of this Section, all recipes, formulations, specifications, costs, expenses, projected and actual sales, communications, advertising and promotional strategies and business plans for marketing the Weight Watchers Programs developed by WW or
in collaboration with OW in contemplation of and during the continuance of this Agreement shall be considered Confidential Information owned by WW. OW acknowledges the need to preserve the secrecy and confidentiality of the Confidential Information,
during and after the termination or expiration of this Agreement and neither shall disclose or use, directly or indirectly, the Confidential Information for any purpose other than the performance of its obligations under this Agreement. OW (and her
designees) shall handle and protect Confidential Information with the same degree of care that it applies to its own Confidential Information, but in no event less than reasonable care. OW agrees to restrict the disclosure of Confidential
Information to those of her representatives having a need to know and to ensure that any such representative who has access to the Confidential Information comply with the terms and conditions of this Agreement in the same manner as they are bound
hereby, or by a separate written agreement with terms at least as protective of the Confidential Information as this Agreement. The obligation of confidentiality set forth herein shall not apply to information which (a) was publicly available
at the time of the disclosure to the receiving Party; (b) subsequently becomes publicly available through no fault of the receiving Party; (c) is rightfully acquired by the receiving Party from a third party who is not in breach of a
confidential obligation with regard to such information; (d) is independently known by the receiving party whether prior to or during the Term of this Agreement; or (e) is disclosed with the written consent of WW. 

 

	 	10.6	 Entire Agreement. This Agreement (including the preamble statements and exhibits annexed hereto, all of which constitute operative provisions of
this 

  
 13 

	 	
Agreement) constitutes the entire understanding and agreement between the Parties hereto with respect to the subject matter hereof, and supersedes all prior oral and written understandings and
agreements relating thereto; and may not be modified, discharged or terminated, nor may any of the provisions hereof be waived, except in a writing signed by all Parties hereto and exchanged between them. There are no other representations,
undertakings, warranties, promises or consideration made by any Party hereto to the other with respect to the subject matter of this Agreement, except as expressly specified herein. Any discrepancy between this Agreement and any of the Other
Agreements with respect to the subject matter of this Agreement shall be governed and controlled by this Agreement; provided, however, that any right relating to OW’s position as a member of the Board of WW shall be governed and controlled by
the Other Agreements and nothing in this Agreement shall prevent OW from enforcing her rights under the Other Agreements as they relate to this Agreement. 

  

	 	10.7	Severability. If any provision or any portion of any provision of this Agreement or the application thereof to any person or entity or circumstance shall be held
void, invalid, illegal or unenforceable to any extent, the remainder of this Agreement and the application thereof shall not be affected and shall continue in full force and effect. 

 

	 	10.8	Interpretation. In this Agreement, unless otherwise specified or where the context otherwise requires: 

 

	 	10.8.1.	the headings in this Agreement are inserted for convenience only and are in no way intended to describe, interpret, define, or limit the scope, extent or intent of this
Agreement or any provision hereof; 

  

	 	10.8.2.	the words “include,” “includes” or “including” shall be deemed to be followed by the words “without limitation”;

  

	 	10.8.3.	the words “hereof,” “herein,” “hereunder” and “herewith” and words of similar import shall, unless otherwise stated, be
construed to refer to this Agreement as a whole and not to any particular provision of this Agreement; and 

  

	 	10.8.4.	as between OW and WW, the Parties hereto have participated jointly in the negotiation and drafting of this Agreement, and, in the event an ambiguity or question of
intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the Parties hereto, and no presumption or burden of proof shall arise favoring or disfavoring any party hereto by virtue of the authorship of any provisions
of this Agreement. 

  

	 	10.9	No Third Party Beneficiaries. Except as specifically provided herein, there are no third party beneficiaries to this Agreement. 

  
 14 

	 	10.10	All Approvals In Writing by OW and WW. Notwithstanding anything to the contrary contained herein, all approvals to be given by OW and WW, respectively, hereunder
shall only be deemed given if given in writing, irrespective of whether so expressly stated as required hereunder. 

  

	 	10.11	No Election of Remedies. As between OW and WW, either Party’s failure in any one or more instances to insist upon strict performance of any of the terms and
conditions of this Agreement or to exercise any right herein conferred shall not be construed as a waiver or relinquishment of that right or of that party’s right to assert or rely upon the terms and conditions of this Agreement, nor an
election of available remedies. Any express waiver of a term of this Agreement shall not be binding and effective unless made in writing and properly executed by the waiving party. As between OW and WW, each Party reserves the right to seek all
remedies, in law or equity, available to it as a result of the material uncured breach of this Agreement by the other Party. 

  

	 	10.12	Survival. All provisions herein, which by their nature, would address matters that might arise at a date subsequent to the expiration or termination of this
Agreement, shall survive such expiration or termination. 

  

	 	10.13	Non-Solicitation. Each of WW, on the one hand, and OW, on the other hand, agree that during the Term and for a period of one (1) year thereafter, it will
not directly or indirectly, for itself or for the benefit of others, solicit any key employee of the other to terminate his or her employment or hire any key employee of the other for a period of one (1) year following the termination of said
employee’s employment. 

  

	 	10.14	Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be regarded for all purposes as an original, and such counterparts
shall constitute a single document. The parties may also exchange signatures (in counterparts) by facsimile or e-mail transmission, which signatures are deemed to be original, valid and binding (once fully executed and exchanged).

 [Signature Page Follows] 

  
 15 

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

			
	WEIGHT WATCHERS INTERNATIONAL INC.
		
	By:	 	 /s/ James R. Chambers

	 Name: James R. Chambers
 Title: Chief Executive Officer

	
	OPRAH WINFREY
		
	By:	 	 /s/ Oprah Winfrey

	Name: Oprah Winfrey

  
 16 

 Exhibit A 

WW Marks 
 WEIGHT WATCHERS and such other related trademarks and service marks as may be authorized by WW. 

  
 17 

 Exhibit B 

Oprah Marks 
 OPRAH, OPRAH WINFREY and such other related trademarks and service marks as may be authorized by OW. 

  
 18ahh_Ex10_4

		
			Exhibit 10.4
		

		
			INDEMNIFICATION AGREEMENT
		

		
			THIS INDEMNIFICATION AGREEMENT (“Agreement”) is made and entered into as of the          day of                      , 20__, by and between Armada Hoffler Properties, Inc., a Maryland corporation (the “Company”), and                      (“Indemnitee”). See Schedule A for a list of officers and directors who have entered into this Indemnification Agreement with the Company.
		

		
			WHEREAS, at the request of the Company, Indemnitee currently serves as [a director] [and] [an officer] of the Company and  may, therefore, be subjected to claims, suits or proceedings arising as a result of Indemnitee’s service; and
		

		
			WHEREAS, as an inducement to Indemnitee to serve or continue to serve in such capacity, the Company has agreed to indemnify and to advance expenses and costs incurred by Indemnitee in connection with any such claims, suits or proceedings, to the maximum extent permitted by law; and
		

		
			WHEREAS, the parties by this Agreement desire to set forth their agreement regarding indemnification and advance of expenses;
		

		
			NOW, THEREFORE, in consideration of the premises and the covenants contained herein, the Company and Indemnitee do hereby covenant and agree as follows:
		

		
			Section 1. Definitions . For purposes of this Agreement:
		

		
			(a) “Change in Control” means a change in control of the Company occurring after the Effective Date of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A (or in response to any similar item on any similar schedule or form) promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), whether or not the Company is then subject to such reporting requirement; provided, however, that, without limitation, such a Change in Control shall be deemed to have occurred if, after the Effective Date (i) any “person” (as such term is used in Sections 3(a)(9), 13(d) and 14(d) of the Exchange Act) is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 15% or more of the combined voting power of all of the Company’s then-outstanding securities entitled to vote generally in the election of directors without the prior approval of at least two-thirds of the members of the Board of Directors in office immediately prior to such person’s attaining such percentage interest; (ii) the Company is a party to a merger, consolidation, sale of assets, plan of liquidation or other reorganization not approved by at least two-thirds of the members of the Board of Directors then in office, as a consequence of which members of the Board of Directors in office immediately prior to such transaction or event constitute less than a majority of the Board of Directors thereafter; or (iii) at any time, a majority of the members of the Board of Directors are not individuals (A) who were directors as of the Effective Date or (B) whose election by the Board of Directors or nomination for election by the Company’s stockholders was approved by the affirmative vote of at least two-thirds of the directors then in office who were directors as of the Effective Date or whose election or nomination for election was previously so approved.
		

		
			 
		

		
			 
		

		
			
		

		
			

		 

 

(b) “Corporate Status” means the status of a person as a present or former director, officer, employee or agent of the Company or as a director, trustee, officer, partner, manager, managing member, fiduciary, employee or agent of any other foreign or domestic corporation, partnership, limited liability company, joint venture, trust, employee benefit plan or other enterprise that such person is or was serving in such capacity at the request of the Company. As a clarification and without limiting the circumstances in which Indemnitee may be serving at the request of the Company, service by Indemnitee shall be deemed to be at the request of the Company: (i) if Indemnitee serves or served as a director, trustee, officer, partner, manager, managing member, fiduciary, employee or agent of any corporation, partnership, limited liability company, joint venture, trust or other enterprise (1) of which a majority of the voting power or equity interest is owned directly or indirectly by the Company or (2) the management of which is controlled directly or indirectly by the Company and (ii) if, as a result of Indemnitee’s service to the Company or any of its affiliated entities, Indemnitee is subject to duties by, or required to perform services for, an employee benefit plan or its participants or beneficiaries, including as deemed fiduciary thereof.
		

		
			(c) “Disinterested Director” means a director of the Company who is not and was not a party to the Proceeding in respect of which indemnification and/or advance of Expenses is sought by Indemnitee.
		

		
			(d) “Effective Date” means the date set forth in the first paragraph of this Agreement.
		

		
			(e) “Expenses” means any and all reasonable and out-of-pocket attorneys’ fees and costs, retainers, court costs, transcript costs, fees of experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, federal, state, local or foreign taxes imposed on Indemnitee as a result of the actual or deemed receipt of any payments under this Agreement, ERISA excise taxes and penalties and any other disbursements or expenses incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing to be a witness in or otherwise participating in a Proceeding. Expenses shall also include Expenses incurred in connection with any appeal resulting from any Proceeding including, without limitation, the premium, security for and other costs relating to any cost bond, supersedeas bond or other appeal bond or its equivalent.
		

		
			(f) “Independent Counsel” means a law firm, or a member of a law firm, that is experienced in matters of corporation law and neither 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 (other than with respect to matters concerning Indemnitee under this Agreement or of other indemnitees under similar indemnification agreements), or (ii) any other party to or participant or witness in the Proceeding giving rise to a claim for indemnification or advance of Expenses 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.
		

		
			(g) “Proceeding” means any threatened, pending or completed action, suit, arbitration, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing
		

		
			 
		

		
			
		

		
			

		 

		

			2

		

 

or any other actual, threatened or completed proceeding, whether brought by or in the right of the Company or otherwise and whether of a civil (including intentional or unintentional tort claims), criminal, administrative or investigative (formal or informal) nature, including any appeal therefrom, except one pending or completed on or before the Effective Date, unless otherwise specifically agreed in writing by the Company and Indemnitee. If Indemnitee reasonably believes that a given situation may lead to or culminate in the institution of a Proceeding, such situation shall also be considered a Proceeding.
		

		
			Section 2. Services by Indemnitee . Indemnitee [will serve][serves] in the capacity or capacities set forth in the first WHEREAS clause above. However, this Agreement shall not impose any obligation on Indemnitee or the Company to continue Indemnitee’s service to the Company. This Agreement shall not be deemed an employment contract between the Company (or any other entity) and Indemnitee.
		

		
			Section 3. General . The Company shall indemnify, and advance Expenses to, Indemnitee (a) as provided in this Agreement and (b) otherwise to the maximum extent permitted by Maryland law in effect on the Effective Date and as amended from time to time; provided, however, that no change in Maryland law shall have the effect of reducing the benefits available to Indemnitee hereunder based on Maryland law as in effect on the Effective Date. The rights of Indemnitee provided in this Section 3 shall include, without limitation, the rights set forth in the other sections of this Agreement, including any additional indemnification permitted by the Maryland General Corporation Law (the “MGCL”), including, without limitation, Section 2-418(g) of the MGCL.
		

		
			Section 4. Standard for Indemnification . If, by reason of Indemnitee’s Corporate Status, Indemnitee is, or is threatened to be, made a party to any Proceeding, the Company shall indemnify Indemnitee against all judgments, penalties, fines and amounts paid in settlement and all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with any such Proceeding unless it is established that (a) the act or omission of Indemnitee was material to the matter giving rise to the Proceeding and (i) was committed in bad faith or (ii) was the result of active and deliberate dishonesty, (b) Indemnitee actually received an improper personal benefit in money, property or services or (c) in the case of any criminal Proceeding, Indemnitee had reasonable cause to believe that Indemnitee’s conduct was unlawful.
		

		
			Section 5. Certain Limits on Indemnification . Notwithstanding any other provision of this Agreement (other than Section 6), Indemnitee shall not be entitled to:
		

		
			(a) indemnification hereunder if the Proceeding was one by or in the right of the Company and Indemnitee is adjudged, in a final adjudication of the Proceeding not subject to further appeal, to be liable to the Company;
		

		
			(b) indemnification hereunder if Indemnitee is adjudged, in a final adjudication of the Proceeding not subject to further appeal, to be liable on the basis that personal benefit was improperly received in any Proceeding charging improper personal benefit to Indemnitee, whether or not involving action in the Indemnitee’s Corporate Status; or
		

		
			 
		

		
			
		

		
			

		 

		

			3

		

 

(c) indemnification or advance of Expenses hereunder if the Proceeding was brought by Indemnitee, unless: (i) the Proceeding was brought to enforce indemnification under this Agreement, and then only to the extent in accordance with and as authorized by Section 12 of this Agreement, or (ii) the Company’s charter or Bylaws, a resolution of the stockholders entitled to vote generally in the election of directors or of the Board of Directors or an agreement approved by the Board of Directors to which the Company is a party expressly provide otherwise.
		

		
			Section 6. Court-Ordered Indemnification . Notwithstanding any other provision of this Agreement, a court of appropriate jurisdiction, upon application of Indemnitee and such notice as the court shall require, may order indemnification of Indemnitee by the Company in the following circumstances:
		

		
			(a) if such court determines that Indemnitee is entitled to reimbursement under Section 2-418(d)(1) of the MGCL, the court shall order indemnification, in which case Indemnitee shall be entitled to recover the Expenses of securing such reimbursement; or
		

		
			(b) if such court determines that Indemnitee is fairly and reasonably entitled to indemnification in view of all the relevant circumstances, whether or not Indemnitee (i) has met the standards of conduct set forth in Section 2-418(b) of the MGCL or (ii) has been adjudged liable for receipt of an improper personal benefit under Section 2-418(c) of the MGCL, the court may order such indemnification as the court shall deem proper without regard to any limitation on such court-ordered indemnification contemplated by Section 2-418(d)(2)(ii) of the MGCL.
		

		
			Section 7. Indemnification for Expenses of an Indemnitee Who is Wholly or Partially Successful . Notwithstanding any other provision of this Agreement, and without limiting any such provision, to the extent that Indemnitee was or is, by reason of Indemnitee’s Corporate Status, made a party to (or otherwise becomes a participant in) any Proceeding and is successful, on the merits or otherwise, in the defense of such Proceeding, the Company shall indemnify Indemnitee for all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection therewith. 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 under this Section 7 for all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with each such claim, issue or matter, allocated on a reasonable and proportionate basis. For purposes of this Section 7 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.
		

		
			Section 8. Advance of Expenses for Indemnitee . If, by reason of Indemnitee’s Corporate Status, Indemnitee is, or is threatened to be, made a party to any Proceeding, the Company shall, without requiring a preliminary determination of Indemnitee’s ultimate entitlement to indemnification hereunder, advance all Expenses incurred by or on behalf of Indemnitee in connection with such Proceeding. The Company shall make such advance within ten days after the receipt by the Company of a statement or statements requesting such advance from time to time, whether prior to or after final disposition of such Proceeding and may be in the form of, in the reasonable discretion of the Indemnitee (but without duplication), (a) payment
		

		
			 
		

		
			
		

		
			

		 

		

			4

		

 

of such Expenses directly to third parties on behalf of Indemnitee, (b) advance of funds to Indemnitee in an amount sufficient to pay such Expenses or (c) reimbursement to Indemnitee for Indemnitee’s payment of such Expenses. Such statement or statements shall reasonably evidence the Expenses incurred by Indemnitee and shall include or be preceded or accompanied by a written affirmation by Indemnitee and a written undertaking by or on behalf of Indemnitee, in substantially the form attached hereto as Exhibit A or in such form as may be required under applicable law as in effect at the time of the execution thereof. To the extent that Expenses advanced to Indemnitee do not relate to a specific claim, issue or matter in the Proceeding, such Expenses shall be allocated on a reasonable and proportionate basis. The undertaking required by this Section 8 shall be an unlimited general obligation by or on behalf of Indemnitee and shall be accepted without reference to Indemnitee’s financial ability to repay such advanced Expenses and without any requirement to post security therefor.
		

		
			Section 9. Indemnification and Advance of Expenses as a Witness or Other Participant . Notwithstanding any other provision of this Agreement, to the extent that Indemnitee is or may be, by reason of Indemnitee’s Corporate Status, made a witness or otherwise asked to participate in any Proceeding, whether instituted by the Company or any other person, and to which Indemnitee is not a party, Indemnitee shall be advanced and indemnified against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection therewith within ten days after the receipt by the Company of a statement or statements requesting any such advance or indemnification from time to time, whether prior to or after final disposition of such Proceeding. Such statement or statements shall reasonably evidence the Expenses incurred by Indemnitee. In connection with any such advance of Expenses, the Company may require Indemnitee to provide an undertaking and affirmation substantially in the form attached hereto as Exhibit A  .
		

		
			Section 10. Procedure for Determination of Entitlement to Indemnification  .
		

		
			(a) 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. Indemnitee may submit one or more such requests from time to time and at such time(s) as Indemnitee deems appropriate in Indemnitee’s sole discretion. The officer of the Company receiving any such request from Indemnitee shall, promptly upon receipt of such a request for indemnification, advise the Board of Directors in writing that Indemnitee has requested indemnification.
		

		
			(b) Upon written request by Indemnitee for indemnification pursuant to Section 10(a) above, 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 has occurred, by Independent Counsel, in a written opinion to the Board of Directors, a copy of which shall be delivered to Indemnitee, which Independent Counsel shall be selected by the Indemnitee and approved by the Board of Directors in accordance with Section 2-418(e)(2)(ii) of the MGCL, which approval shall not be unreasonably withheld; or (ii) if a Change in Control has not occurred, (A) by a majority vote of the Disinterested Directors or, by the majority vote of a group of Disinterested Directors designated by the Disinterested Directors to make the determination, (B) if Independent Counsel has been selected by the Board of Directors in
		

		
			 
		

		
			
		

		
			

		 

		

			5

		

 

accordance with Section 2-418(e)(2)(ii) of the MGCL and approved by the Indemnitee, which approval shall not be unreasonably withheld or delayed, 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 the Board of Directors, by the stockholders of the Company other than directors or officers who are parties to the Proceeding. If it is so determined that Indemnitee is entitled to indemnification, the Company shall make payment to Indemnitee within ten days after such determination. Indemnitee shall cooperate with the person, persons or entity making such determination with respect to Indemnitee’s entitlement to indemnification, including providing to such person, persons or entity 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 or appropriate to such determination in the discretion of the Board of Directors or Independent Counsel if retained pursuant to clause (ii)(B) of this Section 10(b). Any Expenses incurred by Indemnitee in so cooperating with the person, persons or entity making such determination shall be borne by the Company (irrespective of the determination as to Indemnitee’s entitlement to indemnification) and the Company shall indemnify and hold Indemnitee harmless therefrom.
		

		
			(c) The Company shall pay the reasonable fees and expenses of Independent Counsel, if one is appointed.
		

		
			Section 11. Presumptions and Effect of Certain Proceedings  .
		

		
			(a) In making any determination with respect to entitlement to indemnification hereunder, the person or persons or entity 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 10(a) of this Agreement, and the Company shall have the burden of overcoming that presumption in connection with the making of any determination contrary to that presumption.
		

		
			(b) The termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, upon a plea of nolo contendere or its equivalent, or entry of an order of probation prior to judgment, does not create a presumption that Indemnitee did not meet the requisite standard of conduct described herein for indemnification.
		

		
			(c) The knowledge and/or actions, or failure to act, of any other director, officer, employee or agent of the Company or any other director, trustee, officer, partner, manager, managing member, fiduciary, employee or agent of any other foreign or domestic corporation, partnership, limited liability company, joint venture, trust, employee benefit plan or other enterprise shall not be imputed to Indemnitee for purposes of determining any other right to indemnification under this Agreement.
		

		
			Section 12. Remedies of Indemnitee  .
		

		
			(a) If (i) a determination is made pursuant to Section 10(b) of this Agreement that Indemnitee is not entitled to indemnification under this Agreement, (ii) advance of Expenses is not timely made pursuant to Sections 8 or 9 of this Agreement, (iii) no determination of entitlement to indemnification shall have been made pursuant to Section 10(b) of this Agreement
		

		
			 
		

		
			
		

		
			

		 

		

			6

		

 

within 60 days after receipt by the Company of the request for indemnification, (iv) payment of indemnification is not made pursuant to Sections 7 or 9 of this Agreement within ten days after receipt by the Company of a written request therefor, or (v) payment of indemnification pursuant to any other section of this Agreement or the charter or Bylaws of the Company 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 located in the State of Maryland, or in any other court of competent jurisdiction, or to arbitration conducted by a single arbitrator pursuant to the Commercial Arbitration Rules of the American Arbitration Association, of Indemnitee’s entitlement to indemnification or advance of Expenses. Indemnitee shall commence a proceeding seeking an adjudication or an award in arbitration within 180 days following the date on which Indemnitee first has the right to commence such proceeding pursuant to this Section 12(a); provided, however, that the foregoing clause shall not apply to a proceeding brought by Indemnitee to enforce Indemnitee’s rights under Section 7 of this Agreement. Except as set forth herein, the provisions of Maryland law (without regard to its conflicts of laws rules) shall apply to any such arbitration. The Company shall not oppose Indemnitee’s right to seek any such adjudication or award in arbitration.
		

		
			(b) In any judicial proceeding or arbitration commenced pursuant to this Section 12, Indemnitee shall be presumed to be entitled to indemnification or advance of Expenses, as the case may be, under this Agreement and the Company shall have the burden of proving that Indemnitee is not entitled to indemnification or advance of Expenses, as the case may be. If Indemnitee commences a judicial proceeding or arbitration pursuant to this Section 12, Indemnitee shall not be required to reimburse the Company for any advances pursuant to Section 8 of this Agreement until a final determination is made with respect to Indemnitee’s entitlement to indemnification (as to which all rights of appeal have been exhausted or lapsed). The Company shall, to the fullest extent not prohibited by law, be precluded from asserting in any judicial proceeding or arbitration commenced pursuant to this Section 12 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court or before any such arbitrator that the Company is bound by all of the provisions of this Agreement.
		

		
			(c) If a determination shall have been made pursuant to Section 10(b) of this Agreement that Indemnitee is entitled to indemnification, the Company shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 12, absent 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 that was not introduced into evidence in connection with the determination.
		

		
			(d) In the event that Indemnitee is successful in seeking, pursuant to this Section 12, a judicial adjudication of or an award in arbitration to 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 for, any and all Expenses actually and reasonably incurred by Indemnitee in such judicial adjudication or arbitration. If it shall be determined in such judicial adjudication or arbitration that Indemnitee is entitled to receive part but not all of the indemnification or advance of Expenses sought, the Expenses incurred by
		

		
			 
		

		
			
		

		
			

		 

		

			7

		

 

Indemnitee in connection with such judicial adjudication or arbitration shall be appropriately prorated.
		

		
			(e) Interest shall be paid by the Company to Indemnitee at the maximum rate allowed to be charged for judgments under the Courts and Judicial Proceedings Article of the Annotated Code of Maryland for amounts which the Company pays or is obligated to pay for the period (i) commencing with either the tenth day after the date on which the Company was requested to advance Expenses in accordance with Sections 8 or 9 of this Agreement or the 60 th day after the date on which the Company was requested to make the determination of entitlement to indemnification under Section 10(b) of this Agreement, as applicable, and (ii) ending on the date such payment is made to Indemnitee by the Company.
		

		
			Section 13. Defense of the Underlying Proceeding  .
		

		
			(a) Indemnitee shall notify the Company promptly in writing upon being served with any summons, citation, subpoena, complaint, indictment, request or other document relating to any Proceeding which may result in the right to indemnification or the advance of Expenses hereunder and shall include with such notice a description of the nature of the Proceeding and a summary of the facts underlying the Proceeding. The failure to give any such notice shall not disqualify Indemnitee from the right, or otherwise affect in any manner any right of Indemnitee, to indemnification or the advance of Expenses under this Agreement unless the Company’s ability to defend in such Proceeding or to obtain proceeds under any insurance policy is materially and adversely prejudiced thereby, and then only to the extent the Company is thereby actually so prejudiced.
		

		
			(b) Subject to the provisions of the last sentence of this Section 13(b) and of Section 13(c) below, the Company shall have the right to defend Indemnitee in any Proceeding which may give rise to indemnification hereunder; provided, however, that the Company shall notify Indemnitee of any such decision to defend within 15 calendar days following receipt of notice of any such Proceeding under Section 13(a) above. The Company shall not, without the prior written consent of Indemnitee, which shall not be unreasonably withheld or delayed, consent to the entry of any judgment against Indemnitee or enter into any settlement or compromise which (i) includes an admission of fault of Indemnitee, (ii) does not include, as an unconditional term thereof, the full release of Indemnitee from all liability in respect of such Proceeding, which release shall be in form and substance reasonably satisfactory to Indemnitee or (iii) would impose any Expense, judgment, fine, penalty or limitation on Indemnitee. This Section 13(b) shall not apply to a Proceeding brought by Indemnitee under Section 12 of this Agreement.
		

		
			(c) Notwithstanding the provisions of Section 13(b) above, if in a Proceeding to which Indemnitee is a party by reason of Indemnitee’s Corporate Status, (i) Indemnitee reasonably concludes, based upon an opinion of counsel approved by the Company, which approval shall not be unreasonably withheld or delayed, that Indemnitee may have separate defenses or counterclaims to assert with respect to any issue which may not be consistent with other defendants in such Proceeding, (ii) Indemnitee reasonably concludes, based upon an opinion of counsel approved by the Company, which approval shall not be unreasonably withheld or delayed, that an actual or apparent conflict of interest or potential conflict of interest
		

		
			 
		

		
			
		

		
			

		 

		

			8

		

 

exists between Indemnitee and the Company, or (iii) if the Company fails to assume the defense of such Proceeding in a timely manner, Indemnitee shall be entitled to be represented by separate legal counsel of Indemnitee’s choice, subject to the prior approval of the Company, which approval shall not be unreasonably withheld or delayed, at the expense of the Company. In addition, if the Company fails to comply with any of its obligations under this Agreement or in the event that the Company or any other person takes any action to declare this Agreement void or unenforceable, or institutes any Proceeding to deny or to recover from Indemnitee the benefits intended to be provided to Indemnitee hereunder, Indemnitee shall have the right to retain counsel of Indemnitee’s choice, subject to the prior approval of the Company, which approval shall not be unreasonably withheld or delayed, at the expense of the Company (subject to Section 12(d) of this Agreement), to represent Indemnitee in connection with any such matter.
		

		
			Section 14. Non-Exclusivity; Survival of Rights; Subrogation  .
		

		
			(a) The rights of indemnification and advance of Expenses as provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee may at any time be entitled under applicable law, the charter or Bylaws of the Company, any agreement or a resolution of the stockholders entitled to vote generally in the election of directors or of the Board of Directors, or otherwise. Unless consented to in writing by Indemnitee, no amendment, alteration or repeal of the charter or Bylaws of the Company, this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under this Agreement in respect of any action taken or omitted by such Indemnitee in Indemnitee’s Corporate Status prior to such amendment, alteration or repeal, regardless of whether a claim with respect to such action or inaction is raised prior or subsequent to such amendment, alteration or repeal. No right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right or remedy shall be cumulative and in addition to every other right or remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion of any right or remedy hereunder, or otherwise, shall not prohibit the concurrent assertion or employment of any other right or remedy.
		

		
			(b) In the event of any payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who 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.
		

		
			Section 15. Insurance  .
		

		
			(a) The Company will use its reasonable best efforts to acquire directors and officers liability insurance, on terms and conditions deemed appropriate by the Board of Directors, with the advice of counsel, covering Indemnitee or any claim made against Indemnitee by reason of Indemnitee’s Corporate Status and covering the Company for any indemnification or advance of Expenses made by the Company to Indemnitee for any claims made against Indemnitee by reason of Indemnitee’s Corporate Status. In the event of a Change in Control, the Company shall maintain in force any and all directors and officers liability insurance policies that were maintained by the Company immediately prior to the Change in Control for a period of 6 years with the insurance carrier or carriers and through the insurance broker in place at the time of the
		

		
			 
		

		
			
		

		
			

		 

		

			9

		

 

Change in Control; provided, however, (i) if the carriers will not offer the same policy and an expiring policy needs to be replaced, a policy substantially comparable in scope and amount shall be obtained and (ii) if any replacement insurance carrier is necessary to obtain a policy substantially comparable in scope and amount, such insurance carrier shall have an AM Best rating that is the same or better than the AM Best rating of the existing insurance carrier; provided, further, however, in no event shall the Company be required to expend in the aggregate in excess of 300% of the annual premium or premiums paid by the Company for directors and officer liability insurance in effect on the date of the Change in Control. In the event that 300% of the annual premiums paid by the Company for such existing directors and officers liability insurance is insufficient for such coverage, the Company shall spend up to that amount to purchase such lesser coverage as may be obtained with such amount.
		

		
			(b) Without in any way limiting any other obligation under this Agreement, the Company shall indemnify Indemnitee for any payment by Indemnitee which would otherwise be indemnifiable hereunder arising out of the amount of any deductible or retention and the amount of any excess of the aggregate of all judgments, penalties, fines, settlements and Expenses incurred by Indemnitee in connection with a Proceeding over the coverage of any insurance referred to Section 15(a). The purchase, establishment and maintenance of any such insurance shall not in any way limit or affect the rights or obligations of the Company or Indemnitee under this Agreement except as expressly provided herein, and the execution and delivery of this Agreement by the Company and the Indemnitee shall not in any way limit or affect the rights or obligations of the Company under any such insurance policies. If, at the time the Company receives notice from any source of a Proceeding to which Indemnitee is a party or a participant (as a witness or otherwise), the Company has director and officer liability insurance in effect, the Company shall give prompt notice of such Proceeding to the insurers in accordance with the procedures set forth in the respective policies.
		

		
			(c) The Indemnitee shall cooperate with the Company or any insurance carrier of the Company with respect to any Proceeding.
		

		
			Section 16. Coordination of Payments . The Company shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable or payable or reimbursable as Expenses hereunder if and to the extent that Indemnitee has otherwise actually received such payment under any insurance policy, contract, agreement or otherwise.
		

		
			Section 17. Contribution . If the indemnification provided in this Agreement is unavailable in whole or in part and may not be paid to Indemnitee for any reason, other than for failure to satisfy the standard of conduct set forth in Section 4 or due to the provisions of Section 5, then, in respect to any Proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such Proceeding), to the fullest extent permissible under applicable law, the Company, in lieu of indemnifying and holding harmless Indemnitee, shall pay, in the first instance, the entire amount incurred by Indemnitee, whether for Expenses, judgments, penalties, and/or amounts paid or to be paid in settlement, in connection with any Proceeding without requiring Indemnitee to contribute to such payment, and the Company hereby waives and relinquishes any right of contribution it may have at any time against Indemnitee.
		

		
			 
		

		
			
		

		
			

		 

		

			10

		

 

Section 18. Reports to Stockholders . To the extent required by the MGCL, the Company shall report in writing to its stockholders the payment of any amounts for indemnification of, or advance of Expenses to, Indemnitee under this Agreement arising out of a Proceeding by or in the right of the Company with the notice of the meeting of stockholders of the Company next following the date of the payment of any such indemnification or advance of Expenses or prior to such meeting.
		

		
			Section 19. Duration of Agreement; Binding Effect  .
		

		
			(a) This Agreement shall continue until and terminate on the later of (i) the date that Indemnitee shall have ceased to serve as a director, officer, employee or agent of the Company or as a director, trustee, officer, partner, manager, managing member, fiduciary, employee or agent of any other foreign or domestic corporation, real estate investment trust, partnership, limited liability company, joint venture, trust, employee benefit plan or other enterprise that such person is or was serving in such capacity at the request of the Company and (ii) the date that Indemnitee is no longer subject to any actual or possible Proceeding (including any rights of appeal thereto and any Proceeding commenced by Indemnitee pursuant to Section 12 of this Agreement).
		

		
			(b) The indemnification and advance of Expenses provided by, or granted pursuant to, this Agreement shall be binding upon and be enforceable by the parties hereto and their respective successors and assigns (including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business or assets of the Company), shall continue as to an Indemnitee who has ceased to be a director, officer, employee or agent of the Company or a director, trustee, officer, partner, manager, managing member, fiduciary, employee or agent of any other foreign or domestic corporation, partnership, limited liability company, joint venture, trust, employee benefit plan or other enterprise that such person is or was serving in such capacity at the request of the Company, and shall inure to the benefit of Indemnitee and Indemnitee’s spouse, assigns, heirs, devisees, executors and administrators and other legal representatives.
		

		
			(c) The Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to all, substantially all or a substantial part, of the business and/or assets of the Company, by written agreement in form and substance satisfactory to Indemnitee, 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.
		

		
			(d) The Company and Indemnitee agree that a monetary remedy for breach of this Agreement, at some later date, may be inadequate, impracticable and difficult of proof, and further agree that such breach may cause Indemnitee irreparable harm. Accordingly, the parties hereto agree that Indemnitee may enforce this Agreement by seeking injunctive relief and/or specific performance hereof, without any necessity of showing actual damage or irreparable harm and that by seeking injunctive relief and/or specific performance, Indemnitee shall not be precluded from seeking or obtaining any other relief to which Indemnitee may be entitled. Indemnitee shall further be entitled to such specific performance and injunctive relief, including temporary restraining orders, preliminary injunctions and permanent injunctions, without the
		

		
			 
		

		
			
		

		
			

		 

		

			11

		

 

necessity of posting bonds or other undertakings in connection therewith. The Company acknowledges that, in the absence of a waiver, a bond or undertaking may be required of Indemnitee by a court, and the Company hereby waives any such requirement of such a bond or undertaking.
		

		
			Section 20. Severability . If any provision or provisions of this Agreement shall be held to be invalid, void, illegal or otherwise unenforceable for any reason whatsoever: (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including, without limitation, each portion of any Section, paragraph or sentence 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 shall remain enforceable to the fullest extent permitted by law; (b) such provision or provisions shall be deemed reformed to the extent necessary to conform to applicable law and to give the maximum effect to the intent of the parties hereto; and (c) to the fullest extent possible, the provisions of this Agreement (including, without limitation, each portion of any Section, paragraph or sentence 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.
		

		
			Section 21. Identical Counterparts . This Agreement may be executed in one or more counterparts (delivery of which may be by facsimile, or via email as a portable document format (.pdf.)), 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. One such counterpart signed by the party against whom enforceability is sought shall be sufficient to evidence the existence of this Agreement.
		

		
			Section 22. 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.
		

		
			Section 23. Modification and Waiver . No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar) nor, unless otherwise expressly stated, shall such waiver constitute a continuing waiver.
		

		
			Section 24. Notices . All notices, requests, demands and other communications hereunder shall be in writing and shall be deemed to have been duly given if (i) delivered by hand and receipted for by the party to whom said notice or other communication shall have been directed, on the day of such delivery, or (ii) mailed by certified or registered mail with postage prepaid, on the third business day after the date on which it is so mailed:
		

		
			(a) If to Indemnitee, to the address set forth on the signature page hereto.
		

		
			 
		

		
			
		

		
			

		 

		

			12

		

 

 
		

			
					
						(b)

					
					
						If to the Company, to:

				

		
			Armada Hoffler Properties, Inc.
		

		
			Attn: Corporate Secretary
		

		
			222 Central Park Avenue
		

		
			Suite 2100
		

		
			Virginia Beach, Virginia 23462
		

		
			with a copy to (which shall not constitute notice):
		

		
			Hunton & Williams LLP
		

		
			Riverfront Plaza, East Tower
		

		
			951 East Byrd Street
		

		
			Richmond, VA 23219
		

		
			Attention: David C. Wright, Esq.
		

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

		
			Section 25. Governing Law . This Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State of Maryland, without regard to its conflicts of laws rules.
		

		
			[SIGNATURE PAGE FOLLOWS]
		

		
			 
		

		
			 
		

		
			 
		

		
			

		 

		

			13

		

 

		

			 

		

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

		
			 
		

			
					
						 

					
					
						COMPANY:

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						ARMADA HOFFLER PROPERTIES, INC.

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						 

				
	
					
						 

					
					
						Name:

				
	
					
						 

					
					
						Title:

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						INDEMNITEE

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						Name:

				
	
					
						 

					
					
						Address:

				

		
			 
		

		
			
		

		
			

		 

 

EXHIBIT A
		

		
			AFFIRMATION AND UNDERTAKING TO REPAY EXPENSES ADVANCED
		

		
			To: The Board of Directors of Armada Hoffler Properties, Inc.
		

		
			Re: Affirmation and Undertaking
		

		
			Ladies and Gentlemen:
		

		
			This Affirmation and Undertaking is being provided pursuant to that certain Indemnification Agreement dated the      day of                      , 20      , by and between Armada Hoffler Properties, Inc., a Maryland corporation (the “Company”), and the undersigned Indemnitee (the “Indemnification Agreement”), pursuant to which I am entitled to advance of Expenses in connection with [Description of Proceeding] (the “Proceeding”).
		

		
			Terms used herein and not otherwise defined shall have the meanings specified in the Indemnification Agreement.
		

		
			I am subject to the Proceeding by reason of my Corporate Status or by reason of alleged actions or omissions by me in such capacity. I hereby affirm my good faith belief that at all times, insofar as I was involved as [a director] [ and ] [an officer] of the Company, in any of the facts or events giving rise to the Proceeding, I (1) did not act with bad faith or active or deliberate dishonesty, (2) did not receive any improper personal benefit in money, property or services and (3) in the case of any criminal proceeding, had no reasonable cause to believe that any act or omission by me was unlawful.
		

		
			In consideration of the advance by the Company for Expenses incurred by me in connection with the Proceeding (the “Advanced Expenses”), I hereby agree that if, in connection with the Proceeding, it is established that (1) an act or omission by me was material to the matter giving rise to the Proceeding and (a) was committed in bad faith or (b) was the result of active and deliberate dishonesty, or (2) I actually received an improper personal benefit in money, property or services or (3) in the case of any criminal proceeding, I had reasonable cause to believe that the act or omission was unlawful, then I shall promptly reimburse the portion of the Advanced Expenses relating to the claims, issues or matters in the Proceeding as to which the foregoing findings have been established.
		

		
			IN WITNESS WHEREOF, I have executed this Affirmation and Undertaking on this          day of                      , 20       .
		

		
			
		

		
			 
		

			
					
						 

					
					
						 

					
					
						Name:                                                      

				

		
			 
		

		
			
		

		
			

		 

		

			 

		

 

Schedule A
		

		
			 
		

			
					
						Indemnitee

					
					
						    

					
					
						Date

				
	
					
						Daniel A. Hoffler

					
					
						 

					
					
						May 13, 2013

				
	
					
						A. Russell Kirk

					
					
						 

					
					
						May 13, 2013

				
	
					
						John W. Snow

					
					
						 

					
					
						May 13, 2013

				
	
					
						George F. Allen

					
					
						 

					
					
						May 13, 2013

				
	
					
						James A. Carroll

					
					
						 

					
					
						May 13, 2013

				
	
					
						James C. Cherry

					
					
						 

					
					
						May 13, 2013

				
	
					
						Louis S. Haddad

					
					
						 

					
					
						May 13, 2013

				
	
					
						Eva S. Hardy

					
					
						 

					
					
						March 25, 2015

				
	
					
						Joseph W. Prueher

					
					
						 

					
					
						October 24, 2013

				
	
					
						Anthony P. Nero

					
					
						 

					
					
						May 13, 2013

				
	
					
						Eric E. Apperson

					
					
						 

					
					
						May 13, 2013

				
	
					
						Shelly R. Hampton

					
					
						 

					
					
						May 13, 2013

				
	
					
						Michael P. O’Hara

					
					
						 

					
					
						May 13, 2013

				
	
					
						Eric L. Smith

					
					
						 

					
					
						May 13, 2013

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00255-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00255-of-00352.parquet"}]]