Document:

<PAGE>   1
                                                                   Exhibit 10(b)

                            KOCH INDEMNITY AGREEMENT

                  This indemnity agreement (the "KOCH INDEMNITY AGREEMENT"),
dated as of ________, 2000, by and among Purina Mills, Inc. ("PMI"), its Debtor
affiliates signatory hereto (the "DEBTOR AFFILIATES" and collectively with PMI,
"PURINA") and Koch Industries, Inc. ("KOCH INDUSTRIES") and Koch Agriculture
("KOCH AGRICULTURE", and, collectively with Koch Industries, "Koch").

                                    RECITALS

A.       Prior to ________________________, 2000, Purina was known as PM
         HOLDINGS Corporation ("PM HOLDINGS") and owned one-hundred percent
         (100%) of the capital stock of the Delaware corporation known as Purina
         Mills, Inc. ("OLD PMI").

B.       On October 28, 1999, PM Holdings, Old PMI and certain of Old PMI's
         subsidiaries (collectively, the "DEBTORS") filed voluntary petitions
         for relief under Chapter 11 of the United States Bankruptcy Code.

C.       On January 18, 2000, the Debtors filed a Joint Plan of Reorganization,
         a copy of which is attached hereto as EXHIBIT A (as the same may be
         amended in accordance with the terms thereof, the "PLAN") with the
         United States Bankruptcy Court for the District of Delaware (the
         "BANKRUPTCY COURT").(1)

D.       Pursuant to the Plan, the Debtors, Koch and the Official Committee of
         Unsecured Creditors of the Debtors have agreed to the terms and
         conditions for indemnification set forth herein.

                                    AGREEMENT
                                    ---------

                  In consideration of the foregoing and the mutual covenants and
agreements contained herein, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto,
intending to be legally bound hereby, agree as follows:

--------

(1)      Capitalized terms not otherwise defined herein shall have the meaning
         ascribed to them in the Plan.

<PAGE>   2

         1.       GENERAL INDEMNIFICATION.

                  As of the Effective Date, each of the Reorganized Debtors,
jointly and severally, hereby agrees to protect, indemnify and hold harmless
each of the Koch Entities and each of their respective stockholders and present
or former officers, directors, employees, accountants, attorneys, investment
bankers, financial advisors and agents (collectively, the "Koch Indemnified
Parties"), from and against all liabilities, costs or expenses (including
without limitation reasonable attorneys' fees and disbursements) related to any
claims, obligations, suits, judgments, damages, demands, debts, rights, causes
of action and liabilities, asserted by any third parties against any of the Koch
Indemnified Parties arising out of (A) the initiation by any of the Debtors, the
Reorganized Debtors or any other PMI Entity of litigation against such third
party in any way relating to a Koch Entity's ownership or operation of the
Debtors, the Koch Purchase Transaction, the Old Senior Subordinated Notes, the
Prepetition Indenture or any Claim or Interest; (B) any Services (as defined
under the Transition Services Agreement) or any Additional Transition Items (as
defined in the Supplemental Transition Agreement) or any other services or
benefits provided by any Koch Entity to or for the benefit of any PMI Entity
after the Petition Date; or (C) a drawing of bonds under bond program Services
within the meaning of para graph A.4 of Exhibit 2.1(a)(iii) of the Transition
Services Agreement, whether such bond program services were provided before or
after the Petition Date. Notwithstanding the foregoing, the Koch Entities will
not be indemnified for (X) any portion of the compensation of the directors of
PMI paid by any Koch Entity prior to the Effective Date or (Y) any claims in
respect of any guarantee by any Koch Entity of any employment contract of a PMI
employee. All amounts payable hereunder shall be due upon written demand.

         2.       CAP PLAN INDEMNIFICATION.

                  As of the Effective Date, each of the Reorganized Debtors,
jointly and severally, hereby agrees to protect, indemnify and hold harmless
each of the Koch Indemnified Parties from any and all liabilities, claims,
obligations, suits, judgments, damages, demands, penalties, debts, losses, costs
or expenses (including without limitation reasonable attorneys' fees and
disbursements) asserted by any participant under the CAP Plan against any of the
Koch Indemnified Parties and arising solely from the failure by the Reorganized
Debtor to pay the Reinstated Claims of such participant in accordance with the
terms of the CAP Plan. All amounts payable hereunder shall be due upon written
demand.

         3.       INDEMNIFICATION RELATED TO PENSION PLANS.

                  For purposes of this Section 3, (a) the term "Koch Controlled
Group Member" shall mean the Koch Entities and any other corporation, trade or
business (whether or not incorporated), the employees of which, together with
the employees of any Koch Entity, are required by the rules contained in Section
414 of the Internal

                                        2

<PAGE>   3

Revenue Code of 1986, as amended (the "Code") or the provisions of the Employee
Retirement Income Security Act of 1974, as amended ("ERISA") to be treated as if
they were employed by a single employer, other than the PMI Entities, and (b)
the term "PMI Controlled Group Member" shall mean any of the PMI Entities.

                  Certain of the Koch Controlled Group Members may now or in the
past be (or have been) sponsors of, or contributors to (i) a "defined benefit
plan" as defined in Section 3(35) of ERISA, (ii) a pension plan that is subject
to the funding standards of Section 302 of ERISA or Section 412 of the Code,
(iii) a "multi-em ployer plan" as defined in Section 3(37) of ERISA or Section
414(f) of the Code or (iv) a "multiple employer plan" within the meaning of
Section 210 of ERISA or Section 413(c) of the Code (collectively, a "Koch
Defined Benefit Plan"). Certain of the PMI Controlled Group Members may now or
in the past be (or have been) sponsors of, or contributors to (i) a "defined
benefit plan" as defined in Section 3(35) of ERISA, (ii) a pension plan that is
subject to the funding standards of Section 302 of ERISA or Section 412 of the
Code, (iii) a "multi-employer plan" as defined in Section 3(37) of ERISA or
Section 414(f) of the Code or (iv) a "multiple employer plan" within the meaning
of Section 210 of ERISA or Section 413(c) of the Code (collectively, a "PMI
Defined Benefit Plan").

                  Koch Industries and Koch Agriculture, jointly and severally,
hereby agree to protect, indemnify and hold harmless each Reorganized Debtor and
each other wholly-owned PMI Entity from and against all liabilities, claims,
obligations, suits, judgments, damages, demands, penalties, debts, causes of
action, losses, costs or expenses (including, without limitation reasonable
attorneys' fees and disbursements), imposed upon, incurred by or asserted
against any PMI Entity or Reorganized Debtor arising out of or resulting from
(1) any unpaid Pension Benefit Guaranty Corporation premiums (as described in
Sections 4006 and 4007 of ERISA), (2) any withdrawal liability under a
multiemployer plan imposed by Subtitle E of Title IV of ERISA, (3) any
withdrawal liability under a multiple employer plan imposed by Section 4063 or
Section 4064 of ERISA, (4) any "accumulated funding deficiency" (as defined in
Section 412 of the Code and Section 302 of ERISA), (5) any unfunded benefit
liabilities under Section 4062 of ERISA, (6) any other liability under Title IV
of ERISA with respect to any Koch Defined Benefit Plan or (7) any guaranty
provided by any PMI Controlled Group Member in favor of the Pension Benefit
Guaranty Corporation in respect of any Koch Defined Benefit Plan. Each
Reorganized Debtor and each other wholly-owned PMI Entity jointly and severally,
hereby agree to protect, indemnify and hold harmless each Koch Controlled Group
Member from and against all liabilities, claims, obligations, suits, judgments,
damages, demands, penalties, debts, causes of action, losses, costs or expenses
(including, without limitation reasonable attorneys' fees and disbursements),
imposed upon, incurred by or asserted against any Koch Controlled Group Member
arising out of or resulting from (1) any unpaid Pension Benefit Guaranty
Corporation premiums (as described in Sections 4006 and 4007 of ERISA), (2) any
withdrawal liability under a multiemployer plan imposed by Subtitle E of Title
IV of ERISA, (3) any withdrawal liability under a multiple employer plan imposed
by Section 4063 or

                                        3

<PAGE>   4

Section 4064 of ERISA, (4) any "accumulated funding deficiency" (as defined in
Section 412 of the Code and Section 302 of ERISA), (5) any unfunded benefit
liabilities under Section 4062 of ERISA, (6) any other liability under Title IV
of ERISA with respect to any PMI Defined Benefit Plan or (7) any guaranty
provided by any Koch Controlled Group Member in favor of the Pension Benefit
Guaranty Corporation in respect of any PMI Defined Benefit Plan. All amounts
payable hereunder shall be due upon written demand.

         4.       NON-RELEASING PMI ENTITY CLAIMS

                  Pursuant to Section IV.E.2.b.i of the Plan, the Koch
Indemnified Parties and certain other parties were granted releases by each
Debtor, Reorganized Debtor and certain other PMI Entities listed on Exhibit
IV.E.2.b.i of the Plan (collectively, the "Releasing PMI Entities"), as set
forth therein. Certain non-Debtor PMI Entities listed on Exhibit B hereto did
not grant the releases contained in Section IV.E.2.b.i of the Plan (the
"Non-Releasing PMI Entities"). Each of the Releasing PMI Entities hereby agrees
and covenants, jointly and severally, that it shall, upon demand, remit and pay
to Koch Industries an amount equal to 100% of the economic benefit (including
without limitation, the proceeds of any claim or cause of action) that any
Releasing PMI Entity receives or obtains as the result of the commencement or
prosecution of any claim or cause of action by a Non-Releasing PMI Entity
against any Koch Indemnified Party to the extent such claim or cause of action
would have been released under Section IV.E.2.b.i of the Plan had such
Non-Releasing PMI Entity been a Releasing PMI Entity (a "Non-Releasing PMI
Entity Claim").

         5.       NO LITIGATION.

                  Koch shall not, and shall not permit any other Koch Entity to,
initiate any litigation against any former officer, director or employee of any
PMI Entity with respect to the subject matter of the releases set forth in
Section IV.E.2.b.iii of the Plan; provided, however, that a Koch Entity may
pursue any and all claims against any such person if such person has initiated
litigation against such Koch Entity.

         6.       MISCELLANEOUS.

                  (a) All notices, consents, requests, claims, demands,
instructions or other communications to be given hereunder by any party shall be
in writing. All such notices, consents, requests, claims, demands, instructions
or other communications may be given personally, by registered or certified
mail (with proof of receipt, postage and expenses prepaid, return receipt
requested), express package service or facsimile. All such notices shall be
deemed to be received as follows: (i) if delivered personally, when received,
(ii) if mailed, three (3) days after being mailed, (iii) if sent by express
package service, when signed for and (iv) if sent by facsimile, when the
facsimile has been transmitted over the telephone lines, as evidenced by a

                                        4

<PAGE>   5

facsimile confirmation report generated by the transmitting machine. Notices
will be addressed as follows:

                       (i)      if to Koch, to:

                                4111 East 37th Street North
                                Wichita, Kansas 67220
                                facsimile: (316) 828-3133
                                attention: Tye Darland, Esq.

                                with a copy to:

                                Skadden, Arps, Slate, Meagher & Flom (Illinois)
                                333 West Wacker Drive
                                Suite 2100
                                Chicago, Illinois 60606
                                facsimile: (312) 407-0411
                                attention:  David S. Kurtz, Esq.

                       (ii)     if to Purina, to:

                                Purina Mills, Inc.
                                1401 South Hanley Road
                                St. Louis, Missouri 63144
                                facsimile:  (314) 768-4470
                                attention:  David G. Kabbes, General Counsel

                                with a copy to:

                                Jones, Day, Reavis & Pogue
                                North Point
                                911 Lakeside Avenue
                                Cleveland, Ohio  44114
                                facsimile:  (216) 579-0212
                                attention:   Richard M. Cieri, Esq.

or such other addresses as the parties may have furnished to each other pursuant
to the provisions of this Section.

                  (b) This Agreement shall be binding on all parties hereto and
their respective successors and assigns. This Agreement may be executed in one
or more counterparts, all of which taken together will constitute one
instrument.

                  (c) The laws of the State of Delaware will govern the validity
and interpretation of this Agreement and the performance of the parties of their
respective duties and obligations with out regard to conflict of laws
principles.

                                        5

<PAGE>   6

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

                                                 PURINA MILLS, INC.

                                                 By:____________________________
                                                 Name:__________________________
                                                 Title:_________________________

                                                 CAROLINA AGRI-PRODUCTS, INC.

                                                 By:____________________________
                                                 Name:__________________________
                                                 Title:_________________________

                                                 COASTAL AG-DEVELOPMENT, INC.

                                                 By:____________________________
                                                 Name:__________________________
                                                 Title:_________________________

                                                 COLE GRAIN COMPANY, INC.

                                                 By:____________________________
                                                 Name:__________________________
                                                 Title:_________________________

                                                 DAIRY MANAGEMENT SERVICES,
                                                 L.L.P.

                                        6

<PAGE>   7

                                                 By:____________________________
                                                 Name:__________________________
                                                 Title:_________________________

                                                 PM HOLDINGS CORPORATION

                                                 By:____________________________
                                                 Name:__________________________
                                                 Title:_________________________

                                                 PM NUTRITION COMPANY, INC.

                                                 By:____________________________
                                                 Name:__________________________
                                                 Title:_________________________

                                                 PMI AGRICULTURE L.L.C.

                                                 By:____________________________
                                                 Name:__________________________
                                                 Title:_________________________

                                                 PMI NUTRITION, INC.,

                                                 By:____________________________
                                                 Name:__________________________
                                                 Title:_________________________

                                        7

<PAGE>   8

                                                 PMI NUTRITION INTERNATIONAL,
                                                 INC.

                                                 By:____________________________
                                                 Name:__________________________
                                                 Title:_________________________

                                                 PURINA LIVESTOCK MANAGEMENT
                                                 SERVICES, INC.

                                                 By:____________________________
                                                 Name:__________________________
                                                 Title:_________________________

                                                 KOCH INDUSTRIES, INC.

                                                 By:____________________________
                                                 Name:__________________________
                                                 Title:_________________________

                                                 KOCH AGRICULTURE COMPANY

                                                 By:____________________________
                                                 Name:__________________________
                                                 Title:_________________________

                                        8

<PAGE>   9

                                    EXHIBIT A
                                    ---------

                                      Plan

<PAGE>   10

                                    EXHIBIT B
                                    ---------

                           Non-Releasing PMI Entities

                           Alliance Milk Products, LLC
                             Conroe ACS Company, LLC
                              Deer Stone Ag., Inc.
                           Eastern Block, Incorporated
                           Eastgate Feed & Grain, LLC
                                  ESSV, LLC
                              Fil-Am Foods, Inc.
                             Filagri Holdings, Inc.
                            GEC/P.M.I. Joint Venture
                              Hejlik Pig Co., L.C.
                              Lexington Acres, LLC
                                MBA Poultry, LLC
                  Northern Colorado Feed Limited Liability Co.
                                 Oceanview, LLC
                            Synergy Pork Systems LLC
                              T-PM Holding Company
                                    YNOT, LLC<PAGE>   1
                                                                   Exhibit 10(c)

                          D&O INDEMNIFICATION AGREEMENT

         THIS INDEMNIFICATION AGREEMENT, dated as of ___________ ___, _____
(this "Agreement"), is made by and between Purina Mills, Inc., a Delaware
corporation (the "Company"), and __________________ ("Indemnitee").

                                    RECITALS

         A. It is important to the Company to attract and retain as directors
and officers the most capable persons reasonably available.

         B. Indemnitee is a director and/or officer of the Company.

         C. Both the Company and Indemnitee recognize the increased risk of
litigation and other claims being asserted against directors and officers of
companies in today's environment.

         D. The Company's Certificate of Incorporation and/or By-laws (the
"Constituent Documents") provide that the Company shall indemnify its directors
and officers and shall advance expenses in connection therewith, and
Indemnitee's willingness to serve as a director and/or officer of the Company is
based in part on Indemnitee's reliance on such provisions.

         E. In recognition of Indemnitee's need for substantial protection
against personal liability in order to enhance Indemnitee's continued service to
the Company in an effective manner, and Indemnitee's reliance on the aforesaid
provisions of the Constituent Documents, and to provide Indemnitee with express
contractual indemnification (regardless of, among other things, any amendment to
or revocation of such provisions or any change in the composition of the
Company's Board of Directors (the "Board") or any acquisition or business
combination transaction relating to the Company), the Company wishes to provide
in this Agreement for the indemnification of and the advancement of Expenses (as
defined in Section 1(c)) to Indemnitee as set forth in this Agreement and, to
the extent insurance is maintained, for the continued coverage of Indemnitee
under the Company's directors' and officers' liability insurance policies.

         NOW, THEREFORE, the parties hereby agree as follows:

         1. CERTAIN DEFINITIONS. In addition to terms defined elsewhere herein,
the following terms have the following meanings when used in this Agreement with
initial capital letters:

               (a) "AFFILIATE" has the meaning given to that term in Rule 405
under the Securities Act of 1933, provided, however, that for purposes of this
Agreement the Company and its subsidiaries will not be deemed to constitute
Affiliates of Indemnitee or the Indemnitee.

               (b) "CLAIM" means any threatened, pending or completed action,
suit or proceeding, or any inquiry or investigation, whether instituted, made or
conducted by the Company or any other party, including without limitation any
governmental entity, that

<PAGE>   2

Indemnitee determines might lead to the institution of any such action, suit or
proceeding, whether civil, criminal, administrative, arbitrative, investigative
or other.

               (c) "EXPENSES" includes attorney's and experts' fees, expenses
and charges and all other costs, expenses and obligations paid or incurred in
connection with investigating, defending, being a witness in or participating in
(including on appeal), or preparing to defend, be a witness in or participate
in, any Claim.

               (d) "INDEMNIFIABLE LOSSES" means any and all Expenses, damages,
losses, liabilities, judgments, fines, penalties and amounts paid in settlement
(including without limitation all interest, assessments and other charges paid
or payable in connection with or in respect of any of the foregoing)
(collectively, "Losses") relating to, resulting from or arising out of any act
or failure to act by the Indemnitee, or his or her status as any person referred
to in clause (i) of this sentence, (i) in his or her capacity as a director,
officer, employee or agent of the Company, any of its Affiliates or any other
entity as to which the indemnitee is or was serving at the request of the
Company as a director, officer, employee, member, manager, trustee or agent of
another corporation, limited liability company, partnership, joint venture,
trust or other entity or enterprise, whether or not for profit and (ii) in
respect of any business, transaction or other activity of any entity referred to
in clause (i) of this sentence.

         2. BASIC INDEMNIFICATION ARRANGEMENT. The Company will indemnify and
hold harmless Indemnitee, to the fullest extent permitted by the laws of the
State of Delaware in effect on the date hereof or as such laws may from time to
time hereafter be amended to increase the scope of such permitted
indemnification, against all Indemnifiable Losses relating to, resulting from or
arising out of any Claim. The failure by Indemnitee to notify the Company of
such Claim will not relieve the Company from any liability hereunder unless, and
only to the extent that, the Company did not otherwise learn of the Claim and
such failure results in forfeiture by the Company of substantial defenses,
rights or insurance coverage. Except as provided in Section 17, however,
Indemnitee will not be entitled to indemnification pursuant to this Agreement in
connection with any Claim initiated by Indemnitee against the Company or any
director or officer of the Company unless the Company has joined in or consented
to the initiation of such Claim. If so requested by Indemnitee, the Company will
advance within two business days of such request any and all Expenses to
Indemnitee which Indemnitee determines reasonably likely to be payable,
provided, however, that Indemnitee will return, without interest, any such
advance which remains unspent at the final conclusion of the Claim to which the
advance related.

         3. INDEMNIFICATION FOR ADDITIONAL EXPENSES. Without limiting the
generality or effect of the foregoing, the Company will indemnify Indemnitee
against and, if requested by Indemnitee, will within two business days of such
request advance to Indemnitee, any and all attorneys' fees and other Expenses
paid or incurred by Indemnitee in connection with any Claim asserted or brought
by Indemnitee for (i) indemnification or advance payment of Expenses by the
Company under this Agreement or any other agreement or under any provision of
the Company's Constituent Documents now or hereafter in effect relating to
Claims for Indemnifiable Losses and/or (ii) recovery under any directors' and
officers' liability insurance policies maintained by

<PAGE>   3

the Company, regardless of whether Indemnitee ultimately is determined to be
entitled to such indemnification, advance expense payment or insurance recovery,
as the case may be.

         4. PARTIAL INDEMNITY, ETC. If Indemnitee is entitled under any
provision of this Agreement to indemnification by the Company for some or a
portion of any Indemnifiable Loss but not for all of the total amount thereof,
the Company will nevertheless indemnify Indemnitee for the portion thereof to
which Indemnitee is entitled. Moreover, notwithstanding any other provision of
this Agreement, to the extent that Indemnitee has been successful on the merits
or otherwise in defense of any or all Claims relating in whole or in part to an
Indemnifiable Loss or in defense of any issue or matter therein, including
without limitation dismissal without prejudice, Indemnitee will be indemnified
against all Expenses incurred in connection therewith. In connection with any
determination as to whether Indemnitee is entitled to be indemnified hereunder,
there will be a presumption that Indemnitee is so entitled, which presumption
the Company may overcome only by its adducing clear and convincing evidence to
the contrary.

         5. NO OTHER PRESUMPTION. For purposes of this Agreement, the
termination of any Claim by judgment, order, settlement (whether with or without
court approval) or conviction, or upon a plea of nolo contendere or its
equivalent, will not create a presumption that Indemnitee did not meet any
particular standard of conduct or have any particular belief or that a court has
determined that indemnification is not permitted by applicable law.

         6. NON-EXCLUSIVITY, ETC. The rights of Indemnitee hereunder will be in
addition to any other rights Indemnitee may have under the Constituent
Documents, or the substantive laws of the Company's jurisdiction of
incorporation, any other contract or otherwise (collectively, "Other Indemnity
Provisions"); PROVIDED, HOWEVER, that (i) to the extent that Indemnitee
otherwise would have any greater right to indemnification under any Other
Indemnity Provision, Indemnitee will be deemed to have such greater right
hereunder and (ii) to the extent that any change is made to any Other Indemnity
Provision which permits any greater right to indemnification than that provided
under this Agreement as of the date hereof, Indemnitee will be deemed to have
such greater right hereunder. The Company will not adopt any amendment to any of
the Constituent Documents the effect of which would be to deny, diminish or
encumber Indemnitee's right to indemnification under this Agreement or any Other
Indemnity Provision.

         7. LIABILITY INSURANCE AND FUNDING. To the extent the Company maintains
an insurance policy or policies providing directors' and officers' liability
insurance, Indemnitee will be covered by such policy or policies, in accordance
with its or their terms, to the maximum extent of the coverage available for any
director or officer of the Company. The Company may, but will not be required
to, create a trust fund, grant a security interest or use other means, including
without limitation a letter of credit, to ensure the payment of such amounts as
may be necessary to satisfy its obligations to indemnify and advance expenses
pursuant to this Agreement.

         8. SUBROGATION. In the event of payment under this Agreement, the
Company will be subrogated to the extent of such payment to all of the related
rights of recovery of Indemnitee against other persons or entities (other than
Indemnitee's successors). The Indemnitee will execute all papers reasonably
required to evidence such rights (all of Indemnitee's reasonable

<PAGE>   4

Expenses, including attorneys' fees and charges, related thereto to be
reimbursed by or, at the option of Indemnitee, advanced by the Company).

         9. NO DUPLICATION OF PAYMENTS. The Company will not be liable under
this Agreement to make any payment in connection with any Indemnifiable Loss
made against Indemnitee to the extent Indemnitee has otherwise actually received
payment (net of Expenses incurred in connection therewith) under any insurance
policy, the Constituent Documents and Other Indemnity Provisions or otherwise of
the amounts otherwise indemnifiable hereunder.

         10. DEFENSE OF CLAIMS. The Company will be entitled to participate in
the defense of any Claim or to assume the defense thereof, with counsel
reasonably satisfactory to the Indemnitee, PROVIDED that in the event that (i)
the use of counsel chosen by the Company to represent Indemnitee would prevent
such counsel with an actual or potential conflict, (ii) the named parties in any
such Claim (including any impleaded parties) include both the Company and
Indemnitee and Indemnitee shall conclude that there may be one or more legal
defenses available to him or her that are different from or in addition to those
available to the Company, or (iii) any such representation by the Company would
be precluded under the applicable standards of professional conduct then
prevailing, then Indemnitee will be entitled to retain separate counsel (but not
more than one law firm plus, if applicable, local counsel in respect of any
particular Claim) at the Company's expense. The Company will not, without the
prior written consent of the Indemnitee, effect any settlement of any threatened
or pending Claim which the Indemnitee is or could have been a party unless such
settlement solely involves the payment of money and includes an unconditional
release of the Indemnitee from all liability on any claims that are the subject
matter of such Claim.

         11. SUCCESSORS AND BINDING AGREEMENT. (a) The Company will require any
successor (whether direct or indirect, by purchase, merger, consolidation,
reorganization or otherwise) to all or substantially all of the business or
assets of the Company, by agreement in form and substance satisfactory to
Indemnitee and his or her counsel, expressly to assume and agree to perform this
Agreement in the same manner and to the same extent the Company would be
required to perform if no such succession had taken place. This Agreement will
be binding upon and inure to the benefit of the Company and any successor to the
Company, including without limitation any person acquiring directly or
indirectly all or substantially all of the business or assets of the Company
whether by purchase, merger, consolidation, reorganization or otherwise (and
such successor will thereafter be deemed the "Company" for purposes of this
Agreement), but will not otherwise be assignable or delegatable by the Company.

         (b) This Agreement will inure to the benefit of and be enforceable by
the Indemnitee's personal or legal representatives, executors, administrators,
successors, heirs, distributees, legatees and other successors.

         (c) This Agreement is personal in nature and neither of the parties
hereto will, without the consent of the other, assign or delegate this Agreement
or any rights or obligations hereunder except as expressly provided in Sections
11(a) and 11(b). Without limiting the generality or effect of the foregoing,
Indemnitee's right to receive payments hereunder will not be assignable, whether
by pledge, creation of a security interest or otherwise, other than by a
transfer by the

<PAGE>   5

Indemnitee's will or by the laws of descent and distribution, and, in the event
of any attempted assignment or transfer contrary to this Section 11(c), the
Company will have no liability to pay any amount so attempted to be assigned or
transferred.

         12. NOTICES. For all purposes of this Agreement, all communications,
including without limitation notices, consents, requests or approvals, required
or permitted to be given hereunder will be in writing and will be deemed to have
been duly given when hand delivered or dispatched by electronic facsimile
transmission (with receipt thereof orally confirmed), or five business days
after having been mailed by United States registered or certified mail, return
receipt requested, postage prepaid or one business day after having been sent
for next-day delivery by a nationally recognized overnight courier service,
addressed to the Company (to the attention of the Secretary of the Company) and
to the Indemnitee at the addresses shown on the signature page hereto, or to
such other address as any party may have furnished to the other in writing and
in accordance herewith, except that notices of changes of address will be
effective only upon receipt.

         13. GOVERNING LAW. The validity, interpretation, construction and
performance of this Agreement will be governed by and construed in accordance
with the substantive laws of the State of Delaware, without giving effect to the
principles of conflict of laws of such State. Each party consents to
non-exclusive jurisdiction of any Delaware state or federal court or any court
in any other jurisdiction in which a Claim is commenced by a third person for
purposes of any action, suit or proceeding hereunder, waives any objection to
venue therein or any defense based on forum non conveniens or similar theories
and agrees that service of process may be effected in any such action, suit or
proceeding by notice given in accordance with Section 12.

         14. VALIDITY. If any provision of this Agreement or the application of
any provision hereof to any person or circumstance is held invalid,
unenforceable or otherwise illegal, the remainder of this Agreement and the
application of such provision to any other person or circumstance will not be
affected, and the provision so held to be invalid, unenforceable or otherwise
illegal will be reformed to the extent, and only to the extent, necessary to
make it enforceable, valid or legal.

         15. MISCELLANEOUS. No provision of this Agreement may be waived,
modified or discharged unless such waiver, modification or discharge is agreed
to in writing signed by Indemnitee and the Company. No waiver by either party
hereto at any time of any breach by the other party hereto or compliance with
any condition or provision of this Agreement to be performed by such other party
will be deemed a waiver of similar or dissimilar provisions or conditions at the
same or at any prior or subsequent time. No agreements or representations, oral
or otherwise, expressed or implied with respect to the subject matter hereof
have been made by either party that are not set forth expressly in this
Agreement. References to Sections are to references to Sections of this
Agreement.

         16. COUNTERPARTS. This Agreement may be executed in one or more
counterparts, each of which will be deemed to be an original but all of which
together will constitute one and the same agreement.

<PAGE>   6

         17. LEGAL FEES AND EXPENSES. It is the intent of the Company that the
Indemnitee not be required to incur legal fees and or other Expenses associated
with the interpretation, enforcement or defense of Indemnitee's rights under
this Agreement by litigation or otherwise because the cost and expense thereof
would substantially detract from the benefits intended to be extended to the
Indemnitee hereunder. Accordingly, without limiting the generality or effect of
any other provision hereof, if it should appear to the Indemnitee that the
Company has failed to comply with any of its obligations under this Agreement or
in the event that the Company or any other person takes or threatens to take any
action to declare this Agreement void or unenforceable, or institutes any
litigation or other action or proceeding designed to deny, or to recover from,
the Indemnitee the benefits provided or intended to be provided to the
Indemnitee hereunder, the Company irrevocably authorizes the Indemnitee from
time to time to retain counsel of Indemnitee's choice, at the expense of the
Company as hereafter provided, to advise and represent the Indemnitee in
connection with any such interpretation, enforcement or defense, including
without limitation the initiation or defense of any litigation or other legal
action, whether by or against the Company or any director, officer, stockholder
or other person affiliated with the Company, in any jurisdiction.
Notwithstanding any existing or prior attorney-client relationship between the
Company and such counsel, the Company irrevocably consents to the Indemnitee's
entering into an attorney-client relationship with such counsel, and in that
connection the Company and the Indemnitee agree that a confidential relationship
shall exist between the Indemnitee and such counsel. Without respect to whether
the Indemnitee prevails, in whole or in part, in connection with any of the
foregoing, the Company will pay and be solely financially responsible for any
and all attorneys' and related fees and expenses incurred by the Indemnitee in
connection with any of the foregoing.

         18. CERTAIN INTERPRETIVE MATTERS. No provision of this Agreement will
be interpreted in favor of, or against, either of the parties hereto by reason
of the extent to which any such party or its counsel participated in the
drafting thereof or by reason of the extent to which any such provision is
inconsistent with any prior draft hereof or thereof.

<PAGE>   7

         IN WITNESS WHEREOF, Indemnitee has executed and the Company has caused
its duly authorized representative to execute this Agreement as of the date
first above written.

                                    PURINA MILLS, INC.
                                    1401 South Hanley Road
                                    St. Louis, Missouri  63144

                                    By:    _______________________________
                                           Name:  ________________________
                                           Title:  _________________________

                                    [INDEMNITEE]
                                    [Address]

                                           -------------------------------
                                                    [Indemnitee]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00004-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00004-of-00352.parquet"}]]