Document:

Consulting Agreement with SFL3 LLC

Exhibit 10.1

CONSULTING AGREEMENT

THIS CONSULTING AGREEMENT (the “Agreement”) is entered into effective as of December
15th, 2009 (the “Effective Date”), by and between GENESIS FLUID SOLUTIONS HOLDINGS, INC., a
Delaware corporation (the “Company”), and SFL3 LLC, a Nevada limited liability company. (the
“Consultant”).

RECITALS

A. Consultant has expertise in the area of the Company’s business and is willing to provide
consulting services to the Company.

B. The Company is willing to engage Consultant as an independent contractor, and not as an
employee, on the terms and conditions set forth herein.

AGREEMENT

In consideration of the foregoing and of the mutual promises set forth herein, and intending
to be legally bound, the parties hereto agree as follows:

1. Engagement. The Company hereby engages Consultant to render, as an independent
contractor, the consulting services described in Appendix A hereto and such other services
as may be agreed to in writing by the Company and Consultant from time to time on the terms and
conditions set forth herein. Consultant hereby accepts the engagement to provide consulting
services to the Company on the terms and conditions set forth herein. During the term of this
Agreement, Selby F. Little, III, the President of Consultant (“Mr. Little”), shall perform the
services on behalf of Consultant and shall serve as “Chief Financial Officer” of the Company; and
he shall devote such time, attention and energy to the business and affairs of the Company as shall
be necessary to perform the services specified in Appendix A hereto. Consultant shall
report to Mr. Martin Hedley, the Company’s Chief Executive Officer (the “CEO”). From time to time
during the term of this Agreement, Consultant and Company may agree that Consultant provide
additional personnel under this Agreement. Any such agreement shall be made a part of this
Agreement as evidenced by an Appendix hereto, signed by the Company and Consultant, substantially
similar in form to Appendix A hereof.

2. Term. This Agreement will commence on the date first written above, and unless
earlier terminated in accordance with the provisions of Section 9, shall continue for a
period of two (2) months; provided however, that Mr. Little shall have the right to negotiate with
the Board of Directors and the CEO of the Company for full-time employment status at any time
during the currency of this contract, and provided that the current contract may be extended in
writing upon the mutual agreement of the Company and Consultant pending agreement on the full-time
employment status of Mr. Little.

3. Compensation.

3.1 Compensation. In consideration of the services to be performed by Consultant, the Company
agrees to pay Consultant in the manner and at the rates set forth in Appendix A.

3.2 Expenses. Reasonable out-of-pocket expenses incurred by Consultant shall be reimbursed by
Company to Consultant, including but not limited to travel and living expenses incurred by
Consultant related to Mr. Little’s travel to the Company’s Colorado Springs office or other
locations
designated by the Company. Such reimbursement shall be made in accordance with policies
adopted by the Company from time to time, copies of which shall be provided to Consultant,
including, without limitation, the submission of expense reports with original receipts for such
expenses.

 

 

 

4. Confidential Information.

4.1 Definitions. For purposes of this Agreement, “Proprietary Information” means all
information and any idea in whatever form, tangible or intangible, pertaining in any manner to the
business of the Company, or any of its affiliates, or its employees, clients, consultants, or
business associates, which was produced by any employee or consultant of the Company in the course
of his, her or its employment or consulting relationship, or otherwise produced or acquired by or
on behalf of the Company. All Proprietary Information not generally known outside of the Company’s
organization, and all Proprietary Information so known only through improper means, shall be deemed
“Confidential Information.” By way of example and without limiting the foregoing definition,
Proprietary and Confidential Information shall include, but not be limited to:

(a) formulas, research and development techniques, processes, trade secrets,
copyrights, copyright applications, computer programs, software, electronic codes, mask
works, inventions, innovations, patents, patent applications, patent licenses, discoveries,
improvements, data, know-how, formats, test results, and research projects;

(b) information about costs, profits, markets, sales, contracts and lists of customers,
and distributors;

(c) business, marketing, and strategic plans;

(d) forecasts, unpublished financial information, budgets, projections, and customer
identities, characteristics and agreements; and

(e) employee personnel files and compensation information.

Confidential Information is to be broadly defined, and includes all information that has or
could have commercial value or other utility in the business in which the Company is engaged or
contemplates engaging, and all information of which the unauthorized disclosure could be
detrimental to the interests of the Company, whether or not such information is identified as
Confidential Information by the Company.

4.2 Existence of Confidential Information. The Company owns and has developed and compiled,
and will develop and compile, certain trade secrets, proprietary techniques and other Confidential
Information which have great value to its business. This Confidential Information includes not
only information disclosed by the Company to Consultant, but also information developed or learned
by Consultant and/or Mr. Little during the course of its relationship with the Company.

4.3 Protection of Confidential Information. Neither Consultant nor Mr. Little will, directly
or indirectly, use, make available, sell, disclose or otherwise communicate to any third party,
other than in Mr. Little’s role as the CFO (where he will be routinely required to disclose such
information in the ordinary course of performing his duties in such capacity), or other than
connection with Consultant’s and/or Mr. Little’s assigned duties and for the benefit of the
Company, any of the Company’s Confidential Information, either during or after its relationship
with the Company.
  Consultant and Mr. Little acknowledge that they are aware that the unauthorized disclosure of
Confidential Information of the Company may be highly prejudicial to its interests, an invasion of
privacy, and an improper disclosure of trade secrets.

 

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4.4 Delivery of Confidential Information. Upon the written request of the Company or when
Consultant’s and/or Mr. Little’s relationship with the Company terminates, Consultant and/or Mr.
Little will, at the Company’s sole expense, immediately deliver to the Company all copies of any
and all materials and writings received from, created for, or belonging to the Company including,
but not limited to, those which relate to or contain Confidential Information.

4.5 Location and Reproduction. Consultant and/or Mr. Little shall maintain at its workplace
only such Confidential Information as Consultant and/or Mr. Little has a current “need to know.”
Consultant and/or Mr. Little shall, at the Company’s sole expense, return to the appropriate person
and location specified in Section 10 hereof or otherwise properly dispose of Confidential
Information once that need to know no longer exists. Consultant and/or Mr. Little shall not make
copies of or otherwise reproduce Confidential Information unless there is a legitimate business
need of the Company for reproduction.

4.6 Prior Actions and Knowledge. Consultant and Mr. Little represent and warrant that from
the time of its first contact with the Company, Consultant and Mr. Little have held in strict
confidence all Confidential Information and have not disclosed any Confidential Information,
directly or indirectly, to anyone outside the Company, or used, copied, published, or summarized
any Confidential information, except to the extent otherwise permitted in this Agreement.

4.7 Third-Party Information. Consultant and Mr. Little acknowledge that the Company has
received and in the future will receive from third parties their confidential information subject
to a duty on the Company’s part to maintain the confidentiality of such information and to use it
only for certain limited purposes. Consultant and Mr. Little agree that they will at all times
hold all such confidential information in the strictest confidence and will not disclose or use it,
except as necessary to perform its obligations hereunder and in a manner consistent with their
obligations to protect Confidential Information under this Agreement.

4.8 Third Parties. Consultant and Mr. Little represent that their relationship with the
Company does not and will not breach any agreements with or duties to a former employer or any
other third party. Consultant and/or Mr. Little will not disclose to the Company or use on its
behalf any confidential information belonging to others and Consultant and/or Mr. Little will not
bring onto the premises of the Company any confidential information belonging to any such party
unless consented to in writing by such party.

4.9 Acknowledgment. Consultant and Mr. Little acknowledge that there are no currently
existing ideas, processes, inventions, discoveries, marketing or business ideas or improvements
which Consultant and/or Mr. Little desires to exclude from the operation of this Agreement, other
than Consultant’s Proprietary Management Techniques. To the best of Consultant’s and Mr. Little’s
knowledge, there is no other contract to assign inventions, trademarks, copyrights, ideas,
processes, discoveries or other intellectual property that is now in effect between Consultant
and/or Mr. Little, on the one hand, and any other person (including any business or governmental
entity).

 

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5. No Use of Name. Consultant and Mr. Little agree that they shall not at any time
use the Company’s name or any the Company trademark(s) or trade name(s) in any advertising or
publicity without the prior written consent of the Company.

6. Injunctive Relief. Consultant and Mr. Little acknowledge that a breach by
Consultant and/or Mr. Little of any provision of Sections 4, 5 or 9 herein, will constitute
immediate and irreparable damage to the Company, which cannot be fully and adequately compensated
in money damages and which will warrant preliminary and other injunctive relief, an order for
specific performance, and other equitable relief. Consultant and Mr. Little further agree that no
bond or other security shall be required in obtaining such equitable relief and Consultant and Mr.
Little hereby consent to the issuance of such injunction and to the ordering of specific
performance. Consultant and Mr. Little also understand that, in the event of a breach by
Consultant and/or Mr. Little of any provision herein, other action may be taken and remedies
enforced against Consultant and Mr. Little.

7. Indemnification. Concurrent with the execution of this Agreement, the Company and
Mr. Little have entered into that certain Director and Officer Indemnification Agreement of equal
date, a signed copy of which is attached hereto as Exhibit A (the “Indemnification Agreement”).

8. Representations and Warranties. Consultant and Mr. Little represent and warrant
(i) that Consultant and/or Mr. Little have no obligations, legal or otherwise, inconsistent with
the terms of this Agreement or with Consultant’s and/or Mr. Little’s undertaking this relationship
with the Company, (ii) that the performance of the services called for by this Agreement do not and
will not violate any applicable law, rule or regulation or any proprietary or other right of any
third party, and (iii) that Consultant and Mr. Little have not entered into or will not enter into
any agreement (whether oral or written) in conflict with this Agreement.

9. Termination.

9.1 Termination. The Consultant’s engagement with the Company pursuant to this Agreement
shall terminate:

	 	(a)	 	automatically upon notice for Cause (as defined
below);

	 
	 	(b)	 	automatically upon the death of Mr.
Little; or

	 
	 	(c)	 	upon expiration of the term of this
Agreement.

9.2 Definition. For Purposes of this Agreement, “Cause” shall include (i) the conviction by a
court of competent jurisdiction of the Consultant for a fraudulent act or felony, (ii) willful
misfeasance, illegal, dishonest or grossly negligent conduct which constitutes a breach of the
Consultant’s covenants and obligations under this Agreement, or which involve funds or other assets
of the Company, (iii) any conduct which is likely to have a material adverse effect upon the
goodwill or business position of the Company other than as required by public policy, (iv) the
Consultant’s failure to carry out its duties to the Company hereunder, or (v) unsatisfactory work
as determined by the Board of Directors of the Company.

 

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9.3 Termination Obligations.

(a) Except as specifically provided otherwise in this Agreement, upon termination of this
Agreement, neither the Consultant nor the Company shall have any further obligations under this
Agreement, except as to liabilities accrued through the date of termination.

(b) Upon the termination of this Agreement or promptly upon the Company’s written request,
Consultant shall, at the Company’s sole expense, surrender to the Company all equipment, tangible
Proprietary Information, documents, books, notebooks, records, reports, notes, memoranda, drawings,
sketches, models, maps, contracts, lists, computer-generated files and data, any other data and
records of any kind, and copies thereof (collectively, “Company Records”), created on any medium
and furnished to, obtained by, or prepared by Consultant in the course of or incident to its
relationship with the Company, that are in Consultant’s possession or under its control.

(c) Consultant’s and the Company’s representations, warranties, covenants and obligations
contained in this Agreement shall survive the termination of Consultant’s relationship with the
Company.

(d) Following any termination of this Agreement, Consultant will fully cooperate with the
Company, at the Company’s sole expense, in all matters relating to Consultant’s continuing
obligations under this Agreement.

(e) Consultant agrees and acknowledges that (i) the Confidential Information that the
Consultant has already received and will receive is valuable to the Company and that its protection
and maintenance constitutes a legitimate business interest of the Company, to be protected by the
non-competition restrictions set forth herein, (ii) the non-competition restrictions set forth
herein are reasonable and necessary and do not impose undue hardship or burdens on the Consultant,
(iii) the products and services developed or provided by the Company, its affiliates and/or its
clients or customers are or are intended to be sold, provided, licensed and/or distributed to
customers and clients in and throughout the United States (the “Territory”) (to the extent
the Company comes to operate, either directly or through the engagement of a distributor or joint
or co-venturer, or sell a significant amount of its products and services to customers located in
areas other than the United States during the term of this Agreement, the definition of Territory
shall be automatically expanded to cover such other areas), and (iv) the Territory, scope of
prohibited competition, and time duration set forth in the non-competition restrictions set forth
below are reasonable and necessary to maintain the value of the Confidential Information of, and to
protect the goodwill and other legitimate business interests of, the Company, its affiliates and/or
its clients or customers.

(f) Consultant hereby agrees and covenants that it shall not, without the prior written
consent of the Company, directly or indirectly, in any capacity whatsoever, including, without
limitation, as an employee, employer, consultant, principal, partner, shareholder, officer,
director or any other individual or representative capacity (other than a holder of less than two
percent (2%) of the outstanding voting shares of any publicly held company), or whether on
Consultant’s own behalf or on behalf of any other person or entity or otherwise howsoever, during
the term of this Agreement and thereafter to the extent described below, within the Territory:

(i) For a period of five (5) years from the date of termination, engage, own, manage,
operate, control, be employed by, consult for, participate in, or be connected in any manner
with the ownership, management, operation or control of any business in competition
with the business conducted by the the Company as of the date of termination; provided
however, that any business which derives less than five percent (5%) of its revenue from
dewatering products and services shall be excluded;

 

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(ii) For a period of three (3) years from the date of termination, recruit, solicit or
hire, or attempt to recruit or solicit any employee, or independent contractor of the
Company to leave the employment (or independent contractor relationship) thereof, whether or
not any such employee or independent contractor is party to an employment agreement,
provided that the foregoing shall not preclude Consultant from hiring any person who
responds to an add placed in any generally available employment listing;

(iii) For a period of three (3) years from the date of termination, attempt in any
manner to solicit or accept from any customer of the Company, with whom the Company had
significant contact during Consultant’s employment by the Company (whether under this
Agreement or otherwise), business of the kind or competitive with the business done by the
Company with such customer or to persuade or attempt to persuade any such customer to cease
to do business or to reduce the amount of business which such customer has customarily done
or might do with the Company, or if any such customer elects to move its business to a
person other than the Company, provide any services (of the kind or competitive with the
business of the Company) for such customer, or have any discussions regarding any such
service with such customer, on behalf of such other person; or

(iv) For a period of three (3) years from the date of termination, interfere with any
relationship, contractual or otherwise, between the Company and any other party, including,
without limitation, any supplier, distributor, co-venturer or joint venturer of the Company
to discontinue or reduce its business with the Company or otherwise interfere in any way
with the business of the Company.

(g) For purposes of Section 9.2 and 9.3, the term “Consultant” includes Mr. Little
personally.

10. Notices. Any notice or other communication which is required or permitted hereunder shall
be deemed to have been delivered and received on the day of (or, if not a business day, the first
business day after) its having been personally delivered or telecopied to the following address or
telecopy number, on the first business day after its having been sent by overnight delivery service
to the following address, or if sent by regular, registered or certified mail, when actually
received at the following address:

If to Company:

Genesis Fluid Solutions Holdings, Inc.

6660 Delmonico Drive, Suite 242-D

Colorado Springs, CO 80919

Attention: Martin Hedley, CEO

If to Consultant:

SFL3 LLC

PO Box 17037

Reno, NV 89511

Attention: Selby F. Little, III, President

 

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11. Attorney’s Fees. Should any party hereto, or any heir, personal representative, successor
or assign of any party hereto, resort to litigation to enforce this Agreement, the party or parties
prevailing in such litigation shall be entitled, in addition to such other relief as may be
granted, to recover its or their reasonable attorneys’ fees and costs in such litigation from the
non-prevailing party or parties.

12. Entire Agreement. This Agreement, Appendix A attached hereto, and the
Indemnification Agreement attached hereto as Exhibit A set forth the parties’ mutual rights and
obligations with respect to the subject matter hereof. It is intended to be the final, complete,
and exclusive statement of the terms of the parties’ agreements regarding these subjects. This
Agreement supersedes all other prior and contemporaneous agreements and statements on these
subjects, and it may not be contradicted by evidence of any prior or contemporaneous statements or
agreements. To the extent that the practices, policies, or procedures of the Company, now or
during the term of this Agreement, apply to Consultant, have been communicated in writing to
Consultant and/or Mr. Little and are inconsistent with the terms of this Agreement, the provisions
of this Agreement shall control unless changed in writing by the Company and Consultant.

13. Amendment. This Agreement may be amended only by a writing signed by Consultant and by
the CEO.

14. Severability. If any term, provision, covenant or condition of this Agreement, or the
application thereof to any person, place or circumstance, shall be held by a court of competent
jurisdiction to be invalid, unenforceable or void, the remainder of this Agreement and such term,
provision, covenant or condition as applied to other persons, places and circumstances shall remain
in full force and effect.

15. Rights Cumulative. The rights and remedies provided by this Agreement are cumulative, and
the exercise of any right or remedy by any party hereto (or by its successors), whether pursuant to
this Agreement, to any other agreement, or to law, shall not preclude or waive its right to
exercise any or all other rights and remedies.

16. Nonwaiver. No failure or neglect of any party hereto in any instance to exercise any
right, power or privilege hereunder or under law shall constitute a waiver of any other right,
power or privilege or of the same right, power or privilege in any other instance. All waivers by
any party hereto must be contained in a written instrument signed by the party granting such
waivers and, in the case of the Company, by an executive officer of the Company or other person
duly authorized by the Company.

17. Assignment. This Agreement may not be assigned by Consultant without the Company’s prior
written consent. This Agreement may be assigned by the Company in connection with a merger or sale
of all or substantially all of its assets, and in other instances with the Consultant’s consent
which consent shall not be unreasonably withheld or delayed.

18. Compliance with Law. In connection with its services rendered hereunder, Consultant and
Mr. Little agree to abide by all federal, state, and local laws, ordinances and regulations;
provided however, the parties acknowledge that neither Consultant nor Mr. Little has represented
that it or he provide, have provided or will provide any services requiring licensing by any
federal, state or local government, agency, board or other quasi-governmental or regulatory body.

 

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19. Independent Contractor. The relationship between Consultant and the Company is that of
independent contractor under a “work for hire” arrangement. All work product developed by
Consultant shall be deemed owned and assigned to Company, other than Consultant’s Proprietary
Management Techniques. This Agreement is not authority for Consultant to act for the Company as
its agent or make commitments for the Company; provided however, it is acknowledged that Mr.
Little, in his role as Chief Financial Officer, will have the authority to make commitments for and
to bind the Company to contracts, leases and other agreements. Consultant will not be eligible for
any employee benefits, nor will the Company make deductions from fees or expenses paid to
Consultant for taxes, insurance, bonds or the like. Consultant retains the discretion in
performing the tasks assigned, within the scope of work specified.

20. Taxes. Consultant agrees to pay all appropriate local, state and federal taxes relating
to its capacity as a Nevada domestic limited liability company with a principal place of business
in Reno, Nevada.

21. Governing Law. This Agreement shall be governed by and construed in accordance with the
laws of the State of Delaware, without regard to its conflicts of laws principles. Any claim,
action, suit or other proceeding initiated by any of the parties under or in connection with this
Agreement shall exclusively be asserted, brought, prosecuted and maintained in any federal or state
court in the State of Colorado as the party bringing such action, suit or proceeding shall elect,
having jurisdiction over the subject matter thereof, and each of the parties hereby irrevocably (i)
submits to the jurisdiction of such courts, (ii) waives any and all rights to object to the laying
of venue in any such court, (iii) waives any and all rights to claim that such court may be an
inconvenient forum, and (iv) agrees that service of process on them in any such action, suit or
proceeding may be effected by the means by which notices may be given to it under this Agreement.

22. Counterparts. This Agreement may be executed in any number of counterparts, each of which
as so executed shall be deemed to be an original, but all of which together shall constitute one
and the same agreement.

23. Acknowledgment. Consultant acknowledges that it has had the opportunity to consult legal
counsel in regard to this Agreement, that Consultant has read and understands this Agreement, that
Consultant is fully aware of its legal effect, and that Consultant has entered into it freely and
voluntarily and based on Consultant’s own judgment and not on any representations or promises other
than those contained in this Agreement.

 

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In Witness Whereof, the parties hereto have caused this Consulting Agreement to be executed as
of the date first above written.

	 	 	 	 	 
	COMPANY:	 GENESIS FLUID SOLUTIONS HOLDINGS, INC.

 	 
	 	By:  	                             /s/ Martin Hedley
 	 
	 	 	Martin Hedley, Chief Executive Officer
 	 
		Date Signed: December 22, 2009	 

	 	 	 	 	 
	CONSULTANT: 	 SFL3 LLC

 	 
	 	By:  	Shelby F. Little
 	 
	 	 	Selby F. Little, III, President 
 	 
	 	Date Signed: December 22, 2009	 
	 
	 
	 	ACCEPTED AND AGREED this 22nd day of December, 2009

 	 
	 	/s/ Selby F. Little
 	 
	 	Selby F. Little, III, in his individual capacity 	 

 

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APPENDIX A

	1.	 	Description of Services to be Rendered:
On behalf of Consultant, Mr. Little will serve as “Chief Financial Officer” of the
Company. In such capacity, Consultant, acting through Mr. Little, shall have the
following responsibilities and duties:

	 	•	 	Strategic Plan: To assist the Company in strategic planning, in
developing its approach to the target customer base, and by meeting with senior
executives at targeted entities or potential suppliers with the intent to develop
business agreements. The deliverables must contain the key financial methods and
targets necessary to achieve the overall strategic plan.

	 
	 	•	 	Financial Model: To establish an appropriate chart of accounts for
the business of the Company; working with the Company’s independent accountants
and legal counsel to establish financial policies and controls commensurate with
a public company’s needs; to establish the methods by which projects and
equipment sales are costed, priced and delivered.

	 
	 	•	 	Investor Relations: To assist the Company in managing the day-to-day
finances and, working with the Company’s independent accountants and legal
counsel, the periodic reporting to shareholders, the SEC and any other duly
authorized entity in any and all issues related to current or future investment
in the Company and to assist the CEO in preparation of all reports and
presentations necessary to support the investor community.

	2.	 	Time Devoted to Duties: Full Time.

	 
	3.	 	Compensation and Expense Reimbursement:

	 	•	 	Per Diem: For the term of this Agreement, the Company will pay
Consultant fees in the amount of $650 per calendar day worked.

	 
	 	•	 	Expense Reimbursement: Consultant’s expenses shall be reimbursed by
the Company in accordance with the provisions of Section 3.2 of this
Agreement.

	 
	 	•	 	Invoices: Invoices for fees and expenses shall be submitted by
Consultant no more than bi-weekly, and payment by the Company will be made no
more than ten (10) days from receipt of invoice.

 

 

 

EXHIBIT A

TO

CONSULTING AGREEMENT

BETWEEN

GENESIS FLUID SOLUTIONS HOLDINGS, INC.

AND

SFL3 LLC

DATED DECEMBER 15, 2009

DIRECTOR AND OFFICER INDEMNIFICATION AGREEMENT

BETWEEN

GENESIS FLUID SOLUTIONS HOLDINGS, INC.

AND

SELBY F. LITTLE, III

DATED DECEMBER 15, 2009Indemnification Agreement with Bud Little

Exhibit 10.2

GENESIS FLUID SOLUTIONS HOLDINGS, INC.

DIRECTOR AND OFFICER INDEMNIFICATION AGREEMENT

This Director and Officer Indemnification Agreement, dated as of December 15, 2009 (this
“Agreement”), is made by and between Genesis Fluid Solutions Holdings, Inc., a Delaware corporation
(the “Company”), and Selby F. Little, III (the “Indemnitee”).

RECITALS:

A. Section 141 of the Delaware General Corporation Law provides that the business and affairs
of a corporation shall be managed by or under the direction of its board of directors.

B. By virtue of the managerial prerogatives vested in the directors and officers of a Delaware
corporation, directors and officers act as fiduciaries of the corporation and its stockholders.

C. Thus, it is critically important to the Company and its stockholders that the Company be
able to attract and retain the most capable persons reasonably available to serve as directors and
officers of the Company.

D. In recognition of the need for corporations to be able to induce capable and responsible
persons to accept positions in corporate management, Delaware law authorizes (and in some instances
requires) corporations to indemnify their directors and officers, and further authorizes
corporations to purchase and maintain insurance for the benefit of their directors and officers.

E. The Delaware courts have recognized that indemnification by a corporation serves the dual
policies of (1) allowing corporate officials to resist unjustified lawsuits, secure in the
knowledge that, if vindicated, the corporation will bear the expense of litigation, and (2)
encouraging capable women and men to serve as corporate directors and officers, secure in the
knowledge that the corporation will absorb the costs of defending their honesty and integrity.

F. The number of lawsuits challenging the judgment and actions of directors and officers of
Delaware corporations, the costs of defending those lawsuits and the threat to personal assets have
all materially increased over the past several years, chilling the willingness of capable women and
men to undertake the responsibilities imposed on corporate directors and officers.

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

H. Under Delaware law, a director’s or officer’s right to be reimbursed for the costs of
defense of criminal actions, whether such claims are asserted under state or federal law, does not
depend upon the merits of the claims asserted against the director or officer and is separate and
distinct from any right to indemnification the director may be able to establish.

 

 

 

I. Indemnitee is, or will be, a director and/or officer of the Company and his or her
willingness to serve in such capacity is predicated, in substantial part, upon the Company’s
willingness to indemnify him or her in accordance with the principles reflected above, to the
fullest extent permitted by the laws of the State of Delaware, and upon the other undertakings set
forth in this Agreement.

J. Therefore, in recognition of the need to provide Indemnitee with substantial protection
against personal liability, in order to procure Indemnitee’s continued service as a director and/or
officer of the Company and to enhance Indemnitee’s ability to serve the Company in an effective
manner, and in order to provide such protection pursuant to express contract rights (intended to be
enforceable irrespective of, among other things, any amendment to the Company’s certificate of
incorporation or bylaws (collectively, the “Constituent Documents”), any change in the composition
of the Company’s Board of Directors (the “Board”) or any change-in-control or business combination
transaction relating to the Company), the Company wishes to provide in this Agreement for the
indemnification and advancement of Expenses to Indemnitee on the terms, and subject to the
conditions, set forth in this Agreement.

K. In light of the considerations referred to in the preceding recitals, it is the Company’s
intention and desire that the provisions of this Agreement be construed liberally, subject to their
express terms, to maximize the protections to be provided to Indemnitee hereunder.

AGREEMENT:

NOW, THEREFORE, the parties hereby agree as follows:

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

(a) “Change in Control” shall have occurred at such time, if any, as Incumbent Directors cease
for any reason to constitute a majority of Directors. For purposes of this Section 1(a),
“Incumbent Directors” means the individuals who, as of the date hereof, are Directors of the
Company and any individual becoming a Director subsequent to the date hereof whose election,
nomination for election by the Company’s stockholders, or appointment, was approved by a vote of at
least a majority of the then Incumbent Directors (either by a specific vote or by approval of the
proxy statement of the Company in which such person is named as a nominee for director, without
objection to such nomination); provided, however, that an individual shall not be an Incumbent
Director if such individual’s election or appointment to the Board occurs as a result of an actual
or threatened election contest (as described in Rule 14a-12(c) of the Securities Exchange Act of
1934, as amended) with respect to the election or removal of directors or other actual or
threatened solicitation of proxies or consents by or on behalf of a Person other than the Board.

(b) “Claim” means (i) any threatened, asserted, pending or completed claim, demand, action,
suit or proceeding, whether civil, criminal, administrative, arbitrative, investigative or other,
and whether made pursuant to federal, state or other law; and (ii) any
inquiry or investigation, whether made, instituted or conducted by the Company or any other
Person, including, without limitation, any federal, state or other governmental entity, that
Indemnitee reasonably determines might lead to the institution of any such claim, demand, action,
suit or proceeding. For the avoidance of doubt, the Company intends indemnity to be provided
hereunder in respect of acts or failure to act prior to, on or after the date hereof.

 

2

 

(c) “Controlled Affiliate” means any corporation, limited liability company, partnership,
joint venture, trust or other entity or enterprise, whether or not for profit, that is directly or
indirectly controlled by the Company. For purposes of this definition, “control” means the
possession, directly or indirectly, of the power to direct or cause the direction of the management
or policies of an entity or enterprise, whether through the ownership of voting securities, through
other voting rights, by contract or otherwise; provided that direct or indirect beneficial
ownership of capital stock or other interests in an entity or enterprise entitling the holder to
cast 15% or more of the total number of votes generally entitled to be cast in the election of
directors (or persons performing comparable functions) of such entity or enterprise shall be deemed
to constitute control for purposes of this definition.

(d) “Disinterested Director” means a director of the Company who is not and was not a party to
the Claim in respect of which indemnification is sought by Indemnitee.

(e) “Expenses” means attorneys’ and experts’ fees and expenses and all other costs and
expenses paid or payable in connection with investigating, defending, being a witness in or
participating in (including on appeal), or preparing to investigate, defend, be a witness in or
participate in (including on appeal), any Claim.

(f) “Indemnifiable Claim” means any Claim based upon, arising out of or resulting from (i) any
actual, alleged or suspected act or failure to act by Indemnitee in his or her capacity as a
director, officer, employee or agent of the Company or as a director, officer, employee, member,
manager, trustee or agent of any other corporation, limited liability company, partnership, joint
venture, trust or other entity or enterprise, whether or not for profit, as to which Indemnitee is
or was serving at the request of the Company, (ii) any actual, alleged or suspected act or failure
to act by Indemnitee in respect of any business, transaction, communication, filing, disclosure or
other activity of the Company or any other entity or enterprise referred to in clause (i) of this
sentence, or (iii) Indemnitee’s status as a current or former director, officer, employee or agent
of the Company or as a current or former director, officer, employee, member, manager, trustee or
agent of the Company or any other entity or enterprise referred to in clause (i) of this sentence
or any actual, alleged or suspected act or failure to act by Indemnitee in connection with any
obligation or restriction imposed upon Indemnitee by reason of such status. In addition to any
service at the actual request of the Company, for purposes of this Agreement, Indemnitee shall be
deemed to be serving or to have served at the request of the Company as a director, officer,
employee, member, manager, trustee or agent of another entity or enterprise if Indemnitee is or was
serving as a director, officer, employee, member, manager, agent, trustee or other fiduciary of
such entity or enterprise and (i) such entity or enterprise is or at the time of such service was a
Controlled Affiliate, (ii) such entity or enterprise is or at the time of such service was an
employee benefit plan (or related trust) sponsored or maintained by the Company or a Controlled
Affiliate, or (iii) the Company or a Controlled Affiliate (by action of the Board, any committee
thereof or the Company’s Chief
Executive Officer (“CEO”) (other than as the CEO him or herself)) caused or authorized
Indemnitee to be nominated, elected, appointed, designated, employed, engaged or selected to serve
in such capacity.

 

3

 

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

(h) “Independent Counsel” means a nationally recognized law firm, or a member of a nationally
recognized law firm, that is experienced in matters of Delaware corporate law and neither presently
is, nor in the past five years has been, retained to represent: (i) the Company (or any
subsidiary) or Indemnitee in any matter material to either such party (other than with respect to
matters concerning the Indemnitee under this Agreement, or of other indemnitees under similar
indemnification agreements) or (ii) any other named (or, as to a threatened matter, reasonably
likely to be named) party to the Indemnifiable Claim giving rise to a claim for indemnification
hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not include any
person who, under the applicable standards of professional conduct then prevailing, would have a
conflict of interest in representing either the Company or Indemnitee in an action to determine
Indemnitee’s rights under this Agreement.

(i) “Losses” means any and all Expenses, damages, losses, liabilities, judgments, fines,
penalties (whether civil, criminal or other) and amounts paid or payable in settlement, including,
without limitation, all interest, assessments and other charges paid or payable in connection with
or in respect of any of the foregoing.

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

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

 

4

 

2. Indemnification Obligation. Subject only to Section 7 and to the proviso in this
Section, the Company shall indemnify, defend and hold harmless Indemnitee, to the fullest extent
permitted or required by the laws of the State of Delaware in effect on the date hereof or as such
laws may from time to time hereafter be amended to increase the scope of such permitted
indemnification, against any and all Indemnifiable Claims and Indemnifiable Losses; provided,
however, that, except as provided in Section 5, Indemnitee shall not be entitled to
indemnification pursuant to this Agreement in connection with (i) any Claim initiated by Indemnitee
against the Company or any director or officer of the Company unless the Company has joined in or
consented to the initiation of such Claim, or (ii) the purchase and sale by Indemnitee of
securities in violation of Section 16(b) of the Securities Exchange Act of 1934, as amended. The
Company acknowledges that the foregoing obligation may be broader than that now provided by
applicable law and the Company’s Constituent Documents and intends that it be interpreted
consistently with this Section and the recitals to this Agreement.

3. Advancement of Expenses. Indemnitee shall have the right to advancement by the
Company prior to the final disposition of any Indemnifiable Claim of any and all actual and
reasonable Expenses relating to, arising out of or resulting from any Indemnifiable Claim paid or
incurred by Indemnitee. Without limiting the generality or effect of any other provision hereof,
Indemnitee’s right to such advancement is not subject to the satisfaction of any Standard of
Conduct. Without limiting the generality or effect of the foregoing, within five business days
after any request by Indemnitee that is accompanied by supporting documentation for specific
reasonable Expenses to be reimbursed or advanced, the Company shall, in accordance with such
request (but without duplication), (a) pay such Expenses on behalf of Indemnitee, (b) advance to
Indemnitee funds in an amount sufficient to pay such Expenses, or (c) reimburse Indemnitee for such
Expenses; provided that Indemnitee shall repay, without interest, any amounts actually advanced to
Indemnitee that, at the final disposition of the Indemnifiable Claim to which the advance related,
were in excess of amounts paid or payable by Indemnitee in respect of Expenses relating to, arising
out of or resulting from such Indemnifiable Claim. In connection with any such payment,
advancement or reimbursement, at the request of the Company, Indemnitee shall execute and deliver
to the Company an undertaking, which need not be secured and shall be accepted without reference to
Indemnitee’s ability to repay the Expenses, by or on behalf of the Indemnitee, to repay any amounts
paid, advanced or reimbursed by the Company in respect of Expenses relating to, arising out of or
resulting from any Indemnifiable Claim in respect of which it shall have been determined, following
the final disposition of such Indemnifiable Claim and in accordance with Section 7, that Indemnitee
is not entitled to indemnification hereunder.

4. Indemnification for Additional Expenses. Without limiting the generality or effect
of the foregoing, the Company shall indemnify and hold harmless Indemnitee against and, if
requested by Indemnitee, shall reimburse Indemnitee for, or advance to Indemnitee, within five
business days of such request accompanied by supporting documentation for specific Expenses to be
reimbursed or advanced, any and all actual and reasonable Expenses paid or incurred by Indemnitee
in connection with any Claim made, instituted or conducted by Indemnitee for (a) indemnification or
reimbursement or advance payment of Expenses by the Company under any provision of this Agreement,
or under any other agreement or provision of the Constituent Documents now or hereafter in effect
relating to Indemnifiable Claims, and/or (b) recovery under any directors’ and officers’ liability
insurance policies maintained by the Company; provided, however, if it is ultimately determined
that the Indemnitee is not entitled to such indemnification, reimbursement, advance or insurance
recovery, as the case may be, then the Indemnitee shall be obligated to repay any such Expenses to
the Company; provided further, that, regardless in each case of whether Indemnitee ultimately is
determined to be entitled to such indemnification, reimbursement, advance or insurance recovery, as
the case may be, Indemnitee shall return,
without interest, any such advance of Expenses (or portion thereof) which remains unspent at
the final disposition of the Claim to which the advance related.

 

5

 

5. Partial Indemnity. If Indemnitee is entitled under any provision of this Agreement
to indemnification by the Company for some or a portion of any Indemnifiable Loss but not for all
of the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion
thereof to which Indemnitee is entitled.

6. Procedure for Notification. To obtain indemnification under this Agreement in
respect of an Indemnifiable Claim or Indemnifiable Loss, Indemnitee shall submit to the Company a
written request therefore, including a brief description (based upon information then available to
Indemnitee) of such Indemnifiable Claim or Indemnifiable Loss. If, at the time of the receipt of
such request, the Company has directors’ and officers’ liability insurance in effect under which
coverage for such Indemnifiable Claim or Indemnifiable Loss is potentially available, the Company
shall give prompt written notice of such Indemnifiable Claim or Indemnifiable Loss to the
applicable insurers in accordance with the procedures set forth in the applicable policies. The
Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on
behalf of the Indemnitee, all Indemnifiable Claims and Indemnifiable Losses in accordance with the
terms of such policies. The Company shall provide to Indemnitee a copy of such notice delivered to
the applicable insurers, substantially concurrently with the delivery thereof by the Company. The
failure by Indemnitee to timely notify the Company of any Indemnifiable Claim or Indemnifiable Loss
shall not relieve the Company from any liability hereunder unless, and only to the extent that, the
Company did not otherwise learn of such Indemnifiable Claim or Indemnifiable Loss and to the extent
that such failure results in forfeiture by the Company of substantial defenses, rights or insurance
coverage.

7.  Determination of Right to Indemnification.

(a) To the extent that Indemnitee shall have been successful on the merits or otherwise in
defense of any Indemnifiable Claim or any portion thereof or in defense of any issue or matter
therein, including, without limitation, dismissal without prejudice, Indemnitee shall be
indemnified against all Indemnifiable Losses relating to, arising out of or resulting from such
Indemnifiable Claim in accordance with Section 2 and no Standard of Conduct Determination (as
defined in Section 7(b)) shall be required.

(b) To the extent that the provisions of Section 7(a) are inapplicable to an Indemnifiable
Claim that shall have been finally disposed of, any determination of whether Indemnitee has
satisfied the applicable Standard of Conduct (a “Standard of Conduct Determination”) shall be made
as follows: (i) if a Change in Control shall not have occurred, or if a Change in Control shall
have occurred but Indemnitee shall have requested that the Standard of Conduct Determination be
made pursuant to this clause (i), (A) by a majority vote of the Disinterested Directors, even if
less than a quorum of the Board, (B) if such Disinterested Directors so direct, by a majority vote
of a committee of Disinterested Directors designated by a majority vote of all Disinterested
Directors, or (C) if there are no such Disinterested Directors, or if a majority of the
Disinterested Directors so direct, by Independent Counsel in a written opinion addressed to the
Board, a copy of which shall be delivered to Indemnitee; and (ii) if a Change in Control shall have
occurred and Indemnitee shall not have requested that the Standard of
Conduct Determination be made pursuant to clause (i) above, by Independent Counsel in a
written opinion addressed to the Board, a copy of which shall be delivered to Indemnitee.

 

6

 

(c) If (i) Indemnitee shall be entitled to indemnification hereunder against any Indemnifiable
Losses pursuant to Section 7(a), (ii) no determination of whether Indemnitee has satisfied any
applicable standard of conduct under Delaware law is a legally required condition precedent to
indemnification of Indemnitee hereunder against any Indemnifiable Losses, or (iii) Indemnitee has
been determined or deemed pursuant to Section 7(b) to have satisfied the applicable Standard of
Conduct, then the Company shall pay to Indemnitee, within five business days after the later of (x)
the Notification Date in respect of the Indemnifiable Claim or portion thereof to which such
Indemnifiable Losses are related, out of which such Indemnifiable Losses arose or from which such
Indemnifiable Losses resulted, and (y) the earliest date on which the applicable criterion
specified in clause (i), (ii) or (iii) above shall have been satisfied, an amount equal to the
amount of such Indemnifiable Losses. Nothing herein is intended to mean or imply that the Company
is intending to use Section 145(f) of the Delaware General Corporation Law to dispense with a
requirement that Indemnitee meet the applicable Standard of Conduct where it is otherwise required
by such statute.

(d) If a Standard of Conduct Determination is required to be, but has not been, made by
Independent Counsel pursuant to Section 7(b)(i), the Independent Counsel shall be selected by the
Board or a committee of the Board, and the Company shall give written notice to Indemnitee advising
him or her of the identity of the Independent Counsel so selected. If a Standard of Conduct
Determination is required to be, or to have been, made by Independent Counsel pursuant to Section
7(b)(ii), the Independent Counsel shall be selected by Indemnitee, and Indemnitee shall give
written notice to the Company advising it of the identity of the Independent Counsel so selected.
In either case, Indemnitee or the Company, as applicable, may, within five business days after
receiving written notice of selection from the other, deliver to the other a written objection to
such selection; provided, however, that such objection may be asserted only on the ground that the
Independent Counsel so selected does not satisfy the criteria set forth in the definition of
“Independent Counsel” in Section 1(h), and the objection shall set forth with particularity the
factual basis of such assertion. Absent a proper and timely objection, the Person so selected
shall act as Independent Counsel. If such written objection is properly and timely made and
substantiated, (i) the Independent Counsel so selected may not serve as Independent Counsel unless
and until such objection is withdrawn or a court has determined that such objection is without
merit and (ii) the non-objecting party may, at its option, select an alternative Independent
Counsel and give written notice to the other party advising such other party of the identity of the
alternative Independent Counsel so selected, in which case the provisions of the two immediately
preceding sentences and clause (i) of this sentence shall apply to such subsequent selection and
notice. If applicable, the provisions of clause (ii) of the immediately preceding sentence shall
apply to successive alternative selections. If no Independent Counsel that is permitted under the
foregoing provisions of this Section 7(d) to make the Standard of Conduct Determination shall have
been selected within 30 calendar days after the Company gives its initial notice pursuant to the
first sentence of this Section 7(d) or Indemnitee gives its initial notice pursuant to the second
sentence of this Section 7(d), as the case may be, either the Company or Indemnitee may petition
the Court of Chancery of the State of Delaware for resolution of any objection which shall have
been made by the Company or Indemnitee to the other’s selection of Independent Counsel and/or for
the appointment as
Independent Counsel of a person or firm selected by the Court or by such other person as the
Court shall designate, and the person or firm with respect to whom all objections are so resolved
or the person or firm so appointed will act as Independent Counsel. In all events, the Company
shall pay all of the actual and reasonable fees and expenses of the Independent Counsel incurred in
connection with the Independent Counsel’s determination pursuant to Section 7(b).

 

7

 

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

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

10. No Other Presumption. For purposes of this Agreement, the termination of any
Claim by judgment, order, settlement (whether with or without court approval) or conviction, or
upon a plea of nolo contendere or its equivalent, will not create a presumption that Indemnitee did
not meet any applicable Standard of Conduct or that indemnification hereunder is otherwise not
permitted.

11. Non-Exclusivity. The rights of Indemnitee hereunder will be in addition to any
other rights Indemnitee may have under the Constituent Documents, or the substantive laws of the
Company’s jurisdiction of incorporation, any other contract or otherwise (collectively, “Other
Indemnity Provisions”); provided, however, that (a) to the extent that Indemnitee otherwise would
have any greater right to indemnification under any Other Indemnity Provision, Indemnitee will
without further action be deemed to have such greater right hereunder, and (b) to the extent that
any change is made to any Other Indemnity Provision which permits any greater right to
indemnification than that provided under this Agreement as of the date hereof, Indemnitee will be
deemed to have such greater right hereunder. The Company may not, without the consent of
Indemnitee, adopt any amendment to any of the Constituent Documents the effect of which would be to
deny, diminish or encumber Indemnitee’s right to indemnification under this Agreement.

 

8

 

12. Liability Insurance and Funding. For the duration of Indemnitee’s service as a
director and/or officer of the Company and for a reasonable period of time thereafter, which such
period shall be determined by the Company in its sole discretion, the Company shall use
commercially reasonable efforts (taking into account the scope and amount of coverage available
relative to the cost thereof) to cause to be maintained in effect policies of directors’ and
officers’ liability insurance providing coverage for directors and/or officers of the Company, and,
if applicable, that is substantially comparable in scope and amount to that provided by the
Company’s current policies of directors’ and officers’ liability insurance. Upon reasonable
request, the Company shall provide Indemnitee or his or her counsel with a copy of all directors’
and officers’ liability insurance applications, binders, policies, declarations, endorsements and
other related materials. In all policies of directors’ and officers’ liability insurance obtained
by the Company, Indemnitee shall be named as an insured in such a manner as to provide Indemnitee
the same rights and benefits, subject to the same limitations, as are accorded to the Company’s
directors and officers most favorably insured by such policy. Notwithstanding the foregoing, (i)
the Company may, but shall not be required to, create a trust fund, grant a security interest or
use other means, including, without limitation, a letter of credit, to ensure the payment of such
amounts as may be necessary to satisfy its obligations to indemnify and advance expenses pursuant
to this Agreement and (ii) in renewing or seeking to renew any insurance hereunder, the Company
will not be required to expend more than 2.0 times the premium amount of the immediately preceding
policy period (equitably adjusted if necessary to reflect differences in policy periods).

13. Subrogation. In the event of payment under this Agreement, the Company shall be
subrogated to the extent of such payment to all of the related rights of recovery of Indemnitee
against other Persons (other than Indemnitee’s successors), including any entity or enterprise
referred to in clause (i) of the definition of “Indemnifiable Claim” in Section 1(f). Indemnitee
shall execute all papers reasonably required to evidence such rights (all of Indemnitee’s
reasonable Expenses, including attorneys’ fees and charges, related thereto to be reimbursed by or,
at the option of Indemnitee, advanced by the Company).

14. No Duplication of Payments. The Company shall not be liable under this Agreement
to make any payment to Indemnitee in respect of any Indemnifiable Losses to the extent Indemnitee
has otherwise already actually received payment (net of Expenses incurred in connection therewith)
under any insurance policy, the Constituent Documents and Other Indemnity Provisions or otherwise
(including from any entity or enterprise referred to in clause (i) of the definition of
“Indemnifiable Claim” in Section 1(f)) in respect of such Indemnifiable Losses otherwise
indemnifiable hereunder.

15. Defense of Claims. Subject to the provisions of applicable policies of directors’
and officers’ liability insurance, if any, the Company shall be entitled to participate in the
defense of any Indemnifiable Claim or to assume or lead the defense thereof with counsel reasonably
satisfactory to the Indemnitee; provided that if Indemnitee determines, after consultation with
counsel selected by Indemnitee, that (a) the use of counsel chosen by the Company to represent
Indemnitee would present such counsel with an actual or potential conflict, (b) the named parties
in any such Indemnifiable Claim (including any impleaded parties) include both the Company and
Indemnitee and Indemnitee shall conclude that there may be one or more legal defenses available to
him or her that are different from or in addition to those available to the Company, (c) any such
representation by such counsel would be precluded under the applicable standards of professional
conduct then prevailing, or (d) Indemnitee has interests in the claim or underlying subject matter
that are different from or in addition to those of other Persons against whom the Claim has

 

9

 

been
made or might reasonably be expected to be made, then Indemnitee shall be entitled to retain separate counsel (but not more than one law
firm plus, if applicable, local counsel in respect of any particular Indemnifiable Claim for all
indemnitees in Indemnitee’s circumstances) at the Company’s expense. The Company shall not be
liable to Indemnitee under this Agreement for any amounts paid in settlement of any threatened or
pending Indemnifiable Claim effected without the Company’s prior written consent. The Company
shall not, without the prior written consent of the Indemnitee, effect any settlement of any
threatened or pending Indemnifiable Claim which the Indemnitee is or could have been a party unless
such settlement solely involves the payment of money and includes a complete and unconditional
release of the Indemnitee from all liability on any claims that are the subject matter of such
Indemnifiable Claim. Neither the Company nor Indemnitee shall unreasonably withhold its consent to
any proposed settlement; provided that Indemnitee may withhold consent to any settlement that does
not provide a complete and unconditional release of Indemnitee.

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

17. Successors and Binding Agreement.

(a) This Agreement shall be binding upon and inure to the benefit of the Company and any
successor to the Company, including, without limitation, any Person acquiring directly or
indirectly all or substantially all of the business or assets of the Company whether by purchase,
merger, consolidation, reorganization or otherwise (and such successor will thereafter be deemed
the “Company” for purposes of this Agreement), but shall not otherwise be assignable or delegatable
by the Company.

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

(c) This Agreement is personal in nature and neither of the parties hereto shall, without the
consent of the other, assign or delegate this Agreement or any rights or obligations hereunder
except as expressly provided in Sections 17(a) and 17(b). Without limiting the generality or
effect of the foregoing, Indemnitee’s right to receive payments hereunder shall not be assignable,
whether by pledge, creation of a security interest or otherwise, other than by a transfer by the
Indemnitee’s will or by the laws of descent and distribution, and, in the event of any attempted
assignment or transfer contrary to this Section 17(c), the Company shall have no liability to pay
any amount so attempted to be assigned or transferred.

 

10

 

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

19. Governing Law. The validity, interpretation, construction and performance of this
Agreement shall be governed by and construed in accordance with the substantive laws of the State
of Delaware, without giving effect to the principles of conflict of laws of such State. The
Company and Indemnitee each hereby irrevocably consent to the jurisdiction of the Chancery Court of
the State of Delaware for all purposes in connection with any action or proceeding which arises out
of or relates to this Agreement, waive all procedural objections to suit in that jurisdiction,
including, without limitation, objections as to venue or inconvenience, agree that service in any
such action may be made by notice given in accordance with Section 18 and also agree that any
action instituted under this Agreement shall be brought only in the Chancery Court of the State of
Delaware.

20. Validity. If any provision of this Agreement or the application of any provision
hereof to any Person or circumstance is held invalid, unenforceable or otherwise illegal, the
remainder of this Agreement and the application of such provision to any other Person or
circumstance shall not be affected, and the provision so held to be invalid, unenforceable or
otherwise illegal shall be reformed to the extent, and only to the extent, necessary to make it
enforceable, valid or legal. In the event that any court or other adjudicative body shall decline
to reform any provision of this Agreement held to be invalid, unenforceable or otherwise illegal as
contemplated by the immediately preceding sentence, the parties thereto shall take all such action
as may be necessary or appropriate to replace the provision so held to be invalid, unenforceable or
otherwise illegal with one or more alternative provisions that effectuate the purpose and intent of
the original provisions of this Agreement as fully as possible without being invalid, unenforceable
or otherwise illegal.

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

 

11

 

22. Certain Interpretive Matters. Unless the context of this Agreement otherwise
requires, (1) “it” or “its” or words of any gender include each other gender, (2) words using the
singular or plural number also include the plural or singular number, respectively, (3) the terms
“hereof,” “herein,” “hereby” and derivative or similar words refer to this entire Agreement, (4)
the terms “Article,” “Section,” “Annex” or “Exhibit” refer to the specified Article, Section, Annex
or Exhibit of or to this Agreement, (5) the terms “include,” “includes” and “including”
will be deemed to be followed by the words “without limitation” (whether or not so expressed),
and (6) the word “or” is disjunctive but not exclusive. Whenever this Agreement refers to a number
of days, such number will refer to calendar days unless business days are specified and whenever
action must be taken (including the giving of notice or the delivery of documents) under this
Agreement during a certain period of time or by a particular date that ends or occurs on a
non-business day, then such period or date will be extended until the immediately following
business day. As used herein, “business day” means any day other than Saturday, Sunday or a United
States federal holiday.

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

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

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

	 	 	 	 	 
	 	GENESIS FLUID SOLUTIONS HOLDINGS, INC.

 	 
	 	By:  	/s/ Martin Hedley
 	 
	 	 	Name:  	Martin Hedley 	 
	 	 	Title:  	Chief Executive Officer 	 
	 
	 	INDEMNITEE:

 	 
	 	/s/ Selby F. Little
 	 
	 	Name:  	Selby F. Little, III 	 
	 	 	 
	 

	Address:
	 P.O. Box 17037	 
	 

	 	 Reno, NV 89511	 

Signature Page to Director and Officer Indemnification Agreement

 

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