Document:

exv4w15

 

EXHIBIT 4.15

     THESE SECURITIES HAVE NOT BEEN REGISTERED WITH THE UNITED STATES SECURITIES AND EXCHANGE
COMMISSION BECAUSE THEY ARE BELIEVED TO BE EXEMPT FROM REGISTRATION UNDER SECTION 4(2) OF THE
SECURITIES ACT OF 1933 AND RULE 506 PROMULGATED THEREUNDER.

     THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND EXCHANGE
COMMISSION. NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY OTHER AUTHORITY HAS PASSED UPON
OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION PROVIDED TO
THE INVESTORS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. INVESTORS MUST RELY ON
THEIR OWN EXAMINATION OF THE COMPANY, AND THE RISKS, MERITS AND TERMS OF THIS OFFERING IN MAKING AN
INVESTMENT DECISION.

COMMON STOCK PURCHASE WARRANT

Caneum, Inc.

(A NEVADA CORPORATION)

Dated:                     

	 	 	 	 	 
	CERTIFICATE NUMBER: ____
	 	                     WARRANTS

     THIS CERTIFIES THAT                      (hereinafter called the “Holder”) will in the future during
the period hereinafter specified, upon fulfillment of the conditions and subject to the terms
hereinafter set forth, be entitled to purchase from Caneum, Inc., a Nevada corporation (the
“Company”),                      shares (the “Shares”) of the Company’s common stock, par value $.001 per
share (“Common Stock”), at an exercise price of $0.75 per Share (the “Exercise Price”), on the
basis of one share for each warrant (the “Warrant”) indicated on the face hereof.

     Commencing immediately and ending on                     , unless extended by the Company in its sole
discretion (“Expiration Date”), the Holder shall have the right to purchase the Shares hereunder at
the Exercise Price. After the Expiration Date, the Holder shall have no right to purchase any
Shares hereunder and this Warrant shall expire thereon effective at 5:00 p.m., Pacific Time.

     By acceptance of this Warrant Certificate, the Holder agrees to the following terms and
conditions:

 

 

     1. Method of Exercise.

          a. This Warrant may be exercised by delivery of this Warrant Certificate and the duly
completed and executed form of election to purchase attached hereto setting forth the number of
Warrants to be exercised, together with either:

          i. A certified check or bank check payable to the order of, or bank wire transfer to,
the Company in the amount of the full Exercise Price of the Common Stock being purchased;

          ii. Shares of Common Stock of the Company already owned by the Holder equal to the
exercise price with the Common Stock valued at its fair market value based on the average
closing price of the stock on the ten trading days immediately preceding the exercise of the
warrants;

          iii. Warrants or other rights to purchase Common Stock valued at the amount by which
the closing bid quotations (as determined in accordance with subparagraph (ii) above) of the
Common Stock subject to warrants or other rights exceeds the exercise or purchase price
provided on such warrants or rights; or

          iv. Cancellation of debt owed by the Company to the Holder, including debt incurred for
professional services rendered, employment relationships, or otherwise, upon presentation of
an invoice for services provided to the Company.

          b. Upon receipt of this Warrant Certificate with the exercise form duly executed, together
with payment in full of the aggregate Exercise Price of the shares of Common Stock to be purchased,
the Company shall make deliver of certificates evidencing the total number of shares of Common
Stock issuable upon such exercise, in such names and denominations as are required for delivery to,
or in accordance with the instructions of the Holder. Such Common Stock certificates shall be
deemed to be issued, and the person to whom such shares of Common Stock are issued of record shall
be deemed to have become a holder of record of such shares of Common Stock, as of the date of the
surrender of such Warrant Certificate and payment of the Exercise Price, whichever shall last
occur; provided, that if the books of the Company with respect to the transfer of Common Stock are
then closed, such shares shall be deemed to be issued, and the person to whom such shares of Common
Stock are issued of record shall be deemed to have become a record holder of such shares, as of the
date on which such transfer books of the company shall next be open (whether before, on, or after
the expiration of these Warrants). If this Warrant Certificate shall be surrendered for exercise
within any period during which the transfer books for the Company’s common stock or other
securities purchasable upon the exercise of Warrants are closed for any reason, the Company shall
not be required to make deliver of certificates for the securities purchasable upon such exercise
until the date of the reopening of said transfer books.

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          c. Subject to subsection 1(b), if less than all the Warrants evidenced by this Warrant
Certificate are exercised upon a single occasion, a new Warrant Certificate for the
balance of the Warrants not so exercised shall be issued and delivered to, or in accordance
with transfer instructions properly given by, the Holder, until the expiration of the applicable
Warrant Exercise Period.

          d. All Warrant Certificates surrendered upon exercise of Warrants shall be canceled.

     2. Expiration of Warrant. At the Expiration Date, each Warrant will, respectively,
expire and become void and of no value.

     3. Registration Rights. The Company hereby grants to the Holder the following
registration rights pertaining to the shares underlying the warrants (the “Shares”):

          a. Whenever the Company shall propose to file a registration statement under the Securities
Act on a form which permits the inclusion of the Shares for resale (the “Registration Statement”),
including a registration on Form S-8, if applicable, it will give written notice to the Holder at
least thirty (30) calendar days prior to the anticipated filing thereof, specifying the approximate
date on which the Company proposes to file the Registration Statement and the intended method of
distribution in connection therewith, and advising the Holder of his right to have any or all of
the Shares then held by him included among the securities to be covered by such registration
statement (the “Piggy-Back Rights”). The Holder shall have the right to include the Shares in one
or more Registration Statements until all of the Shares have been sold, or until all of the Shares
are eligible for sale under Rule 144 promulgated by the SEC, whichever shall first occur.

          b. Subject to Section (d) and Section (e) of this Paragraph 3, in the event that the Holder
has and shall elect to utilize the Piggy-Back Rights, the Company shall include in the Registration
Statement the number of the Shares identified by the Holder in a written request (the “Piggy-Back
Request”) given to the Company not later than ten (10) Business Days prior to the proposed filing
date of the Registration Statement. The Shares identified in the Piggy-Back Request shall be
included in the Registration Statement on the same terms and conditions as the other shares of
Common Stock included in the Registration Statement.

          c. Notwithstanding anything in this Agreement to the contrary, the Holder shall not have
Piggy-Back Rights with respect to (i) a registration statement on Form S-4 or any successor forms
thereto, (ii) a registration statement filed in connection with an exchange offer or an offering of
securities solely to existing stockholders or employees of the Company, (iii) a registration
statement filed in connection with an offering by the Company of securities convertible into or
exchangeable for Common Stock, and (iv) a registration statement filed in connection with private
placement of securities of the Company (whether for cash or in connection with an acquisition by
the Company or one of its subsidiaries).

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          d. If the lead managing underwriter selected by the Company for an underwritten offering for
which Piggy-Back Rights are requested determines that marketing or other factors require a
limitation on the number of shares of Common Stock to be offered and
sold in such offering, then (i) such underwriter shall provide written notice thereof to each
of the Company and the Holder, and (ii) there shall be included in the offering, first, all shares
of Common Stock proposed by the Company to be sold for its account (or such lesser amount as shall
equal the maximum number determined by the lead managing underwriter as aforesaid) and, second,
only that number of Shares requested to be included in the Registration Statement by the Holder
that such lead managing underwriter reasonably and in good faith believes will not substantially
interfere with (including, without limitation, adversely affect the pricing of) the offering of all
the shares of Common Stock that the Company desires to sell for its own account.

          e. Nothing contained in this Paragraph 3 shall create any liability on the part of the Company
to the Holder if the Company for any reason should decide not to file a Registration Statement for
which Piggy-Back Rights are available or to withdraw such Registration Statement subsequent to its
filing, regardless of any action whatsoever that the Holder may have taken, whether as a result of
the issuance by the Company of any notice hereunder or otherwise.

          f. As a condition to providing Piggy-Back Rights, the Company may require the Holder to
furnish to the Company in writing such information regarding the proposed distribution by the
Holder as the Company may from time to time reasonably request.

          g. Except as set forth below, the Company shall bear all expenses of the Registration
Statement. The Holder will be individually responsible for payment of his own legal fees (if he
holder retains legal counsel separate from that of the Company), underwriting fees and brokerage
discounts, commissions and other sales expenses incident to any registration hereunder.

     4. Taxes. The Holder shall pay all documentary, stamp or similar taxes and other
government charges that may be imposed with respect to the issuance or transfer of the Warrants, or
the issuance, transfer or delivery of any shares of Common Stock upon the exercise of the Warrants.

     5. Mutilated or Missing Warrant Certificates. If this Warrant Certificate is
mutilated, lost, stolen, or destroyed, the Company may, on such terms as to indemnity or otherwise
as it may in its discretion impose (which shall, in the case of a mutilated Warrant Certificate,
include the surrender thereof), and upon receipt of evidence satisfactory to the Company of such
mutilation, loss, theft, or destruction, issue a substitute Warrant Certificate. Applicants for
substitute Warrant Certificates shall comply with any reasonable regulations (and pay any
reasonable charges) prescribed by the Company.

     6. Reservation of Shares. For the purpose of enabling the Company to satisfy its
obligation to issue Common Stock upon the exercise the Warrants represented by this Warrant

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Certificate, the Company shall at all times reserve and keep available, free from preemptive
rights, out of the aggregate of its authorized but unissued Common Stock, the full number of shares
which may be issued upon the exercise of these Warrants; such shares of Common Stock
shall upon issuance be fully paid, nonassessable, and free from all taxes, liens, charges, and
security interests with respect to the issuance thereof.

     7. Adjustments. If, prior to the exercise of these Warrants, the Company shall have
effected one or more stock split-ups, stock dividends or other increases or reductions of the
number of shares of its Common Stock outstanding without receiving reasonable compensation therefor
in money, services, or property, the number of shares of Common Stock subject to the Warrants
shall, (i) if a net increase shall have been effected in the number of outstanding shares of Common
Stock, be proportionately increased, and the cash consideration payable per share shall be
proportionately reduced, and, (ii) if a net reduction shall have been effected in the number of
outstanding shares of Common Stock, be proportionately reduced and the cash consideration payable
per share be proportionately increased.

     8. Notice to Holders.

          a. Upon any adjustment as described in Paragraph 7 hereof, the Company shall, within twenty
(20) days thereafter, cause written notice setting forth the details of such adjustment, the method
of calculation, and the facts upon which such calculation is based, to be given to the Holder as of
the record date applicable thereto.

          b. If the Company proposes to enter into any reorganization, reclassification, sale of all or
substantially all of its assets, consolidation, merger, dissolution, liquidation, or winding up,
the Company shall give notice of such fact at least thirty (30) days prior to such action to the
Holder, which notice shall set forth such facts and indicate the effect of such action (to the
extent such effect may be known at the date of such notice) on the Exercise Price and the kind and
amount of the shares or other securities and property deliverable upon exercise of the Warrants.
Failure of the Company to give notice shall not invalidate any corporate action taken by the
Company.

     9. No Fractional Warrants or Shares. The Company shall not be required to issue
fractions of Warrants upon the reissue of Warrants, any adjustments as described in Paragraph 7
hereof, or otherwise; but the Company in lieu of issuing any such fractional interest, shall round
up or down to the nearest full Warrant. If the total Warrants surrendered for exercise would
result in the issuance of a fractional share of Common Stock, the Company shall not be required to
issue a fractional share but rather the aggregate number of shares issuable shall be rounded up or
down to the nearest full share.

     10. Rights of Holder. The Holder, as such, shall not have any rights of a shareholder
of the company, either at law or equity, and the rights of the Holder, as such, are limited to
those rights expressly provided in this Warrant Certificate. The Company may treat the Holder in

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respect of any Warrant Certificate as the absolute owner thereof for all purposes notwithstanding
any notice to the contrary.

     11. Transfer and Assignment. This Warrant Certificate, and the rights of the Holder
hereunder, shall not be transferable and assignable, in whole or in part, without the prior written
consent of the Company, which consent shall not be unreasonably withheld. Any permitted transfer
or assignment shall be effected by the Holder (i) completing and executing a form of assignment
furnished by the Company and (ii) surrendering this Warrant Certificate with such duly completed
and executed assignment form for cancellation, accompanied by funds sufficient to pay any transfer
tax, at the principal executive office of the Company; whereupon the Company shall issue, in the
name or names specified by the Holder (including the Holder) a new Warrant Certificate or
Certificates of like tenor with appropriate legends restricting transfer under the Securities Act
of 1933, as amended (the “Act”) and representing in the aggregate rights to purchase the same
number of Shares as are purchasable hereunder. Prior to due presentment for transfer or assignment
hereof, the Company may treat the Holder as the absolute owner hereof and of each Warrant
represented hereby (notwithstanding any notations of ownership or writing hereon made by anyone
other than a duly authorized officer of the Company) for all purposes and shall not be affected by
any notice to the contrary.

     13. Compliance with Securities Laws. This Warrant may not be exercised or sold,
transferred, assigned, or otherwise disposed of at any time by the Holder unless the transaction is
registered under the Act or, in the opinion of the Company (which may in its discretion require the
Holder to furnish it with an opinion of counsel in form and substance satisfactory to it), such
exercise, sale, transfer, assignment, or other disposition does not require registration under the
Act and a valid exemption is available under applicable federal and state securities laws.

     IN WITNESS WHEREOF, Caneum, Inc. has caused this Warrant to be signed by its duly authorized
officer.

	 	 	 	 	 
	 	Caneum, Inc.

 	 
	 	By  	 	 
	 	 	_____________, Chairman 	 
	 	 	Compensation Committee 	 

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PURCHASE FORM

(To be signed only upon exercise of Warrant)

     The undersigned, the Holder of the foregoing Warrant Certificate, hereby irrevocably elects to
exercise the purchase rights represented by such Warrants for, and to purchase thereunder, Shares
of the Common Stock of Caneum, Inc., and herewith makes payment of $                     therefore, or
tenders other consideration as provided above, and requests that the share certificates be issued
in the name(s) of, and delivered to the following name and address:

	 	 	 	 	 
	Name:

	 	 	 	 
	 

	 	 	 	 
	Address:
	 	 	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	 	 	 

Dated:                     , 200     

 
Signature

7exv10w1

 

Exhibit 10.1

INDEMNIFICATION AGREEMENT

     This Indemnification Agreement (the “Agreement”) is made as of the 7th day of May 2006, by and
between NEWPARK RESOURCES, INC. a Delaware corporation (the “Company”), and PAUL L. HOWES
(“Indemnitee”), with reference to the following:

     A. Indemnitee is currently serving as a director and chief executive officer of the Company,
and the Company wishes Indemnitee to continue to serve in such capacity.

     B. The Certificate of Incorporation, as amended, and the Bylaws, as amended, of the Company
provide that the Company shall indemnify its “agents” (as defined herein), including directors and
officers, against specified expenses and losses arising as a result of their services as such
agents, to the fullest extent permitted by the Delaware General Corporation Law (the “GCL”).

     C. Section 145(f) of the GCL provides that the indemnification provisions of the GCL are not
exclusive of any rights to which a person seeking indemnification may be entitled under the
Certificate of Incorporation or Bylaws of a corporation or under an agreement providing for
indemnification.

     D. Indemnitee has indicated that he may not be willing to serve or to continue to serve as a
director or officer of the Company in the absence of indemnification in addition to that provided
by the Company’s Certificate of Incorporation and Bylaws.

     E. It is the intention of this Agreement to provide to Indemnitee certain indemnification
rights which are in addition to those rights described in the Company’s Certificate of
Incorporation and Bylaws.

     NOW, THEREFORE, as an inducement to Indemnitee to serve or to continue to serve as a director
or officer of the Company, the Company agrees with Indemnitee as follows:

     1. Indemnification. The Company shall indemnify Indemnitee if Indemnitee was or is a
party or is threatened to be made a party to any proceeding (including but not limited to a
proceeding by or in the right of the Company to procure a judgment in its favor) by reason of the
fact that Indemnitee is or was an agent of the Company or of any other entity for which Indemnitee
served at the request of the Company, against all expenses (including without limitation attorneys’
fees and litigation costs), judgments, fines, settlements and other amounts actually and reasonably
incurred in connection with such proceeding if Indemnitee acted in good faith and in a manner
Indemnitee reasonably believed to be in the best interests of the Company, and, in the case of a
criminal proceeding, had no reasonable cause to believe that Indemnitee’s conduct was unlawful.
The termination of any proceeding by judgment, order, settlement, conviction or upon a plea of
nolo contendere or its equivalent shall not, of itself, create a presumption that

 

 

Indemnitee did not act in good faith and in a manner which Indemnitee reasonably believed to
be in the best interests of the Company or that the Indemnitee had reasonable cause to believe that
the Indemnitee’s conduct was unlawful.

     2. Personal Liability Policy. The Company also agrees to pay for a personal liability
insurance policy providing coverage reasonably acceptable to Indemnitee for his actions or
inactions as a director, officer, employee, or agent of the Company or of any other entity for
which Indemnitee so served at the request of the Company. Such insurance policy shall cover
liability exposure not covered by the Company’s general directors and officers liability policy,
and shall cover director, officer, employee, and agent liability risks directly if there is no
underlying coverage. Such policy shall have an aggregate claims limit of no less than $10 million
for claims arising from actions prior to as well as during Indemnitee’s tenure at the Company. In
the event the insurance policy so provided is written on a claims-made basis (where only claims
made against the insured during the policy period are covered), the Company shall pay for and
provide tail coverage for Indemnitee with the same $10 million policy limits for a period of six
years beyond the end of each policy term or in lieu of tail coverage, keep such policy in place for
a period not less than six years after Indemnitee ceases to be a director, officer, or employee of
the Company.

     3. Letter of Credit. If, for events that have occurred prior to the date hereof (i)
the Company is unable to obtain or maintain the personal liability insurance policy required in
Section 2, or (ii) the Company determines in good faith that such insurance policy is not
reasonably available, or that the premium costs for such insurance policy are disproportionate to
the amount of coverage provided, or that the coverage provided by such insurance policy is limited
by exclusions so as to provide insufficient benefits, and if Indemnitee does not object to such
determination by the Company, then the Company shall obtain a letter of credit naming Indemnitee as
payee, from an insured U.S. bank, providing for the payment of any and all claims by Indemnitee
under this Agreement without requiring that Indemnitee first seek payment from the Company,
permitting one or more draws totaling up to $3,000,000. Such letter of credit shall be evergreen
(which may be drawn upon if not renewed prior to two weeks before its expiration date), and
continue to be in effect for a period of six years after Indemnitee ceases to be a director,
officer, or employee of the Company.

     4. Expenses; Indemnification Procedure.

          4.1 Advance of Expenses. At the times specified in Section 4.4(a) hereof, the Company
shall advance all expenses incurred by Indemnitee in defending any proceeding prior to the final
disposition of such proceeding. Indemnitee hereby undertakes to repay such amounts advanced if it
shall be determined ultimately that Indemnitee is not entitled to be indemnified by the Company.

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          4.2 Notice/Cooperation by Indemnitee. As a condition precedent to Indemnitee’s right
to be indemnified under this Agreement, Indemnitee shall give the Company notice in writing as soon
as practicable of any claim made against Indemnitee for which indemnification will or could be
sought under this Agreement. Notice to the Company shall be directed to the Secretary of the
Company at the address shown on the signature page of this Agreement (or such other address as the
Company shall designate in writing to Indemnitee). Delay in providing notice shall not preclude
Indemnitee from asserting his rights under this Agreement, unless and only to the extent such delay
causes actual loss to the Company. Indemnitee shall give the Company such information and
cooperation as it may reasonably require and as shall be within Indemnitee’s reasonable ability to
provide.

          4.3 Determination of Standard of Conduct. It shall be a defense to any claim by
Indemnitee for indemnification hereunder and to any action brought by Indemnitee pursuant to
Section 4.4(a) (other than a claim or action to enforce a claim for expenses incurred in connection
with any proceeding in advance of its final disposition) that Indemnitee has not met the standard
of conduct which makes it permissible for the Company to indemnify Indemnitee for the amount
claimed, but the burden of proving such defense (by clear and convincing evidence) shall be on the
Company, and Indemnitee shall be entitled to receive interim payments of expenses pursuant to
Section 4.1 unless and until such defense is finally adjudicated by court order or judgment from
which no further right of appeal exists. It is the parties’ intention that, if the Company
contests Indemnitee’s right to indemnification, the question of Indemnitee’s right to
indemnification shall be for the court to decide, and neither the failure of the Company (including
its Board of Directors, any committee or subgroup of the Board of Directors, independent legal
counsel, or its stockholders) to have made a determination that indemnification is proper in the
circumstances because Indemnitee has met the applicable standard of conduct, nor an actual
determination by the Company (including its Board of Directors, any committee or subgroup of the
Board of Directors, independent legal counsel, or its stockholders) that Indemnitee has not met
such standard of conduct, shall create a presumption that Indemnitee has or has not met the
applicable standard of conduct. Except as provided in Section 4.1, Indemnitee shall be indemnified
by the Company under this Agreement unless it shall be determined by a court of competent
jurisdiction that indemnification of Indemnitee is improper under the circumstances of the
particular proceeding because the Indemnitee has not met the applicable standard of conduct set
forth in Section 1.

          4.4 Certain Procedural Matters.

               (a) Any indemnification and advances provided for in this Agreement shall be made no later
than thirty (30) days after receipt of the written request of Indemnitee. If a claim under this
Agreement, under any statute, or under any provision of the Company’s Certificate of Incorporation
or Bylaws providing for indemnification is not paid in full by the Company within thirty (30) days
after a written request for payment thereof has first been received by the Company, Indemnitee may,
but need not, at any time thereafter bring an action against the Company to recover the unpaid
amount

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of the claim, and, subject to Section 15 of this Agreement, Indemnitee shall also be entitled
to be paid for the expenses of bringing such action.

               (b) Notice to Insurers. If, at the time of the receipt of a notice of a claim
pursuant to Section 4.2 hereof, the Company has director and officer liability insurance in effect,
the Company shall give prompt notice of the commencement of such proceeding to the insurers in
accordance with the procedures set forth in the respective policies. The Company shall thereafter
take all necessary or desirable action to cause such insurers to pay, on behalf of the Indemnitee,
all amounts payable as a result of such proceeding in accordance with the terms of such policies.
If the Company fails to take such action on Indemnitee’s behalf, Indemnitee may do so, whereupon
the Company shall indemnify Indemnitee against all expenses incurred by Indemnitee in connection
with any proceeding brought by Indemnitee against the insurers for recovery under any such
insurance.

               (c) Selection of Counsel. The Company shall be entitled to assume the defense of any
proceeding with respect to which it is obligated to advance expenses pursuant to Section 4.1, with
counsel satisfactory to Indemnitee, upon the delivery to Indemnitee of written notice of its
election to do so. After delivery of such notice, approval of such counsel by Indemnitee and the
retention of such counsel by the Company, the Company will not be liable to advance counsel fees to
Indemnitee with respect to the same proceeding, provided that (i) Indemnitee shall have the right
to employ his or her counsel in any such proceeding at Indemnitee’s expense for amounts due or paid
to such counsel in excess of 20 percent of the amount due or paid to the counsel engaged by the
Company; and (ii) if (A) the employment of counsel by Indemnitee has been previously authorized by
the Company, (B) Indemnitee shall have reasonably concluded that there may be a conflict of
interest between the Company and Indemnitee in the conduct of any such defense, or (C) the Company
shall not, in fact, have employed counsel to assume the defense of such proceeding, then all of the
fees and expenses of Indemnitee’s counsel shall be at the expense of the Company.

     5. Additional Indemnification Rights; Non-exclusivity.

          5.1 Scope. Notwithstanding any other provision of this Agreement, the Company hereby
agrees to indemnify the Indemnitee to the fullest extent permitted by law (in effect at any time
between the date the Indemnitee became an agent of the Company and the date the claim is resolved)
notwithstanding that such indemnification is not specifically authorized by the other provisions of
this Agreement, the Company’s Certificate of Incorporation, Bylaws or by statute. In the event of
any change in any applicable law, statute or rule which narrows the right of a Delaware corporation
to indemnify a member of its Board of Directors or an officer, such changes, to the extent not
otherwise required by such law, statute or rule to be applied to this Agreement, shall have no
effect on this Agreement or the parties’ rights and obligations hereunder.

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          5.2 Other Rights Authorized. The indemnification provided by this Agreement shall not
be exclusive of (a) any additional rights to indemnification for breach of duty to the Company and
its stockholders while acting in the capacity of a director, officer, employee, or agent of the
Company or of any other entity for which Indemnitee served at the request of the Company or (b) any
other rights to which Indemnitee may be entitled under any Bylaw, agreement, vote of stockholders
or disinterested directors, or otherwise, both as to action in Indemnitee’s official capacity and
as to action in another capacity while holding such office, in each case, to the extent such
additional rights to indemnification are authorized in the Company’s Certificate of Incorporation.
The indemnification provided under this Agreement shall continue as to Indemnitee for any action
taken or not taken while serving in an indemnified capacity even though Indemnitee may have ceased
to serve in such capacity at the time of any covered proceeding.

     6. Partial Indemnification. If Indemnitee is entitled under any provision of this
Agreement to indemnification by the Company for some or a portion of the expense, judgments, fines
or penalties actually or reasonably incurred by him or her in the investigation, defense, appeal or
settlement of any civil or criminal action, suit or proceeding, but not for the total amount
thereof, the Company shall nevertheless indemnify Indemnitee for the portion of such expenses,
judgments, fines or penalties to which Indemnitee is entitled.

     7. Mutual Acknowledgement. Both the Company and Indemnitee acknowledge that in
certain instances, Federal law or applicable public policy may prohibit the Company from
indemnifying its directors, officers, employees, and/or agents under this Agreement or otherwise.
Indemnitee understands and acknowledges that the Company has undertaken or may be required in the
future to undertake with 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.

     8. Charter Provisions. The Company at all times shall have and maintain in its
Certificate of Incorporation or Bylaws, or both, as necessary in order to be effective under the
GCL, provisions for exculpating directors from liability and for indemnifying officers, directors,
employees and agents, in each case to the fullest extent permitted under the GCL, which provisions
shall not be amended except as required by applicable law or except to make changes, permitted by
law, that would enlarge Indemnitee’ s right of indemnification.

     9. Officer and Director Liability Insurance. The Board of Directors of the Company
shall, from time to time, make the good faith determination whether or not it is practicable for
the Company to obtain and maintain a policy or policies of insurance with reputable insurance
companies providing the officers and directors of the Company with coverage for losses from
wrongful acts, or to ensure the Company’s performance of its

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indemnification obligations under this Agreement. Among other considerations, the Company
will weigh the costs of obtaining such insurance coverage against the protection afforded by such
coverage.

     10. Severability. Nothing in this Agreement is intended to require or shall be
construed as requiring the Company to do or fail to do any act in violation of applicable law. The
Company’s inability, pursuant to court order, to perform its obligations under this Agreement shall
not constitute a breach of this Agreement. The provisions of this Agreement shall be severable as
provided in this Section 10. If this Agreement or any portion hereof shall be invalidated on any
ground by any court of competent jurisdiction, then the Company shall nevertheless indemnify
Indemnitee to the full extent permitted by any applicable portion of this Agreement that shall not
have been invalidated, and the balance of this Agreement not so invalidated shall be enforceable in
accordance with its terms.

     11. Exceptions. Any other provision herein to the contrary notwithstanding, the
Company shall not be obligated pursuant to the terms of this Agreement:

          11.1 To indemnify or advance expenses to Indemnitee with respect to proceedings or claims
initiated or brought voluntarily by Indemnitee and not by way of defense, except with respect to
proceedings brought to establish or enforce a right to indemnification under this Agreement, the
Company’s Certificate of Incorporation or Bylaws, or any other statute or law or otherwise as
required or permitted under Section 145 of the GCL, but such indemnification or advancement of
expenses may be provided by the Company in specific cases if the Board of Directors has approved
the initiation or bringing of such suit; or

          11.2 To indemnify Indemnitee for any expenses incurred by the Indemnitee with respect to any
proceeding instituted by Indemnitee to enforce or interpret this Agreement, if a court of competent
jurisdiction determines that each of the material assertions made by the Indemnitee in such
proceeding was not made in good faith or was frivolous; or

          11.3 To indemnify Indemnitee for expenses or liabilities of any type whatsoever (including,
but not limited to, judgments, fines, ERISA excise taxes or penalties, and amounts paid in
settlement) which have been paid directly to Indemnitee by an insurance carrier under a policy of
officers’ and directors’ liability insurance maintained by the Company; or

          11.4 To indemnify Indemnitee for expenses and the payment of profits arising from the purchase
and sale by Indemnitee of securities in violation of Section 16(b) of the Securities Exchange Act
of 1934, as amended, or any similar successor statute; or

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          11.5 To indemnify Indemnitee for any act, omission or transaction listed in the exceptions to
waiver of personal liability of a director set forth in Section 102(b)(7) of the GCL.

     12. Construction of Certain Phrases.

          12.1 For purposes of this Agreement, “agent” means any person who is or was a director,
officer, employee or other agent of the Company, or is or was serving at the request of the Company
as a director, member of a committee of the Board of Directors, officer, employee or agent of
another foreign or domestic corporation which was a predecessor corporation of the Company or of
another enterprise at the request of such predecessor corporation; “proceeding” means any
threatened, pending or completed action or proceeding, whether civil, criminal, administrative or
investigative; and “expenses” includes, without limitation, attorney’s fees and any expenses of
establishing a right to indemnification or any other right under this Agreement.

          12.2 For purposes of this Agreement, “person” means any individual, and any domestic or
foreign corporation, partnership, association, trust or other entity or organization, including a
government or political subdivision or any agency or instrumentality thereof; and “predecessor or
acquired person” means a person which was a predecessor of the Company or a majority of whose
equity interests or assets is or was acquired by the Company.

          12.3 For purposes of this Agreement, references to the “Company” shall include any subsidiary
of the Company and, in addition to the resulting corporation, any constituent corporation
(including any constituent of a constituent) absorbed in a consolidation or merger which, if its
separate existence had continued, would have had power and authority to indemnify its directors,
officers, and employees or agents, so that if Indemnitee is or was a director, officer, employee or
agent of such constituent corporation, or is or was serving at the request of such constituent
corporation as a director, officer, employee or agent of another corporation, partnership, joint
venture, trust or other enterprise, Indemnitee shall stand in the same position under the
provisions of this Agreement with respect to the resulting or surviving corporation as Indemnitee
would have with respect to such constituent corporation if its separate existence had continued.

          12.4 For purposes of this Agreement, references to “other enterprises” shall include employee
benefit plans; references to “fines” shall include any excise taxes assessed on Indemnitee with
respect to an employee benefit plan; and references to “serving at the request of the Company”
shall include any service as a director, member of a committee of the Board of Directors officer,
employee or agent of the Company which imposes duties on, or involves services by, such director,
officer, employee or agent with respect to any employee benefit plan, its participants, or
beneficiaries; and if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed
to be in

7

 

the best interests of the participants and beneficiaries of an employee benefit plan,
Indemnitee shall be deemed to have acted in a manner “not opposed to the best interests of the
Company” as referred to in this Agreement.

     13. Counterparts. This Agreement may be executed in one or more counterparts, each of
which shall constitute an original.

     14. Successors and Assigns. This Agreement shall be binding upon the Company and its
successors and assigns, and shall inure to the benefit of Indemnitee and the heirs, executors, and
administrators of the Indemnitee.

     15. Attorneys’ Fees. In the event that any action is instituted by Indemnitee under
this Agreement to enforce or interpret any of the terms hereof, Indemnitee shall be entitled to be
paid all court costs and expenses, including reasonable attorneys’ fees, incurred by Indemnitee
with respect to such action, unless as a part of such action, the court of competent jurisdiction
determines that each of the material assertions made by Indemnitee as a basis for such action was
not made in good faith or was frivolous. In the event of an action instituted by or in the name of
the Company under this Agreement, or to enforce or interpret any of the terms of this Agreement,
Indemnitee shall be entitled to be paid all court costs and expenses, including attorneys’ fees,
incurred by Indemnitee in defense of such action (including with respect to Indemnitee’s
counterclaims and cross-claims made in such action), unless as a part of such action the court
determines that each of Indemnitee’s material defenses to such action was not made in good faith or
was frivolous.

     16. Notice. All notices, requests, demands and other communications under this
Agreement shall be in writing and shall be deemed duly given (a) if delivered by hand and receipted
for by the party addressed, on the date of such receipt, or (b) if mailed by domestic certified or
registered mail with postage prepaid, on the third business day after the date postmarked.
Addresses for notice to either party are as shown on the signature page of this Agreement, or as
subsequently modified by written notice.

     17. Choice of Law. This Agreement shall be governed by and its provisions construed
in accordance with the laws of the State of Delaware, as applied to contracts between Delaware
residents entered into and to be performed entirely within Delaware.

     18. Authorization. By executing this Agreement on behalf of the Company, the
undersigned Company representative certifies that this Agreement has been duly authorized and
approved by the Board of Directors of the Company.

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

	 	 	 	 	 	 	 	 	 
	 	 	NEWPARK RESOURCES, INC. (the “Company”)  	 	 
	 	 	3850 North Causeway Boulevard, #1770	 	 
	 	 	Metairie, LA 70002-1752	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	     /s/ Eric Wingerter
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:          Vice President	 	 	 	 

AGREED TO AND ACCEPTED:

/s/ Paul L. Howes      (“Indemnitee”)

Paul L. Howes

456 Shetland Valley Court

Chesterfield, Missouri 63005

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