SEC Contract Filing

Filing Date: 2023-04-03

Document Content:
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>8
<FILENAME>tm2311100d1_ex10-4.htm
<DESCRIPTION>EXHIBIT 10.4
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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin: 0"><B>Exhibit 10.4</B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>INDEMNIFICATION
AGREEMENT</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>THIS
INDEMNIFICATION AGREEMENT</B> (the &ldquo;<B>Agreement</B>&rdquo;) is made and entered into as of March&#8239;28, 2023, between Trailblazer
Merger Corporation I, a Delaware corporation (the &ldquo;<B>Company</B>&rdquo;), and Trailblazer Sponsor Group, LLC, Barak Avitbul, Scott
Burell, Olga Castells, Patrick M. Donovan, Yosef Eichorn, Joseph Hammer and Arie Rabinowitz (&ldquo;<B>Indemnitee</B>&rdquo; or &ldquo;<B>Indemnitees</B>&rdquo;).</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WITNESSETH
THAT:</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WHEREAS</B>,
highly competent persons have become more reluctant to serve corporations as directors or in other capacities unless they are provided
with adequate protection through insurance or adequate indemnification against inordinate risks of claims and actions against them arising
out of their service to and activities on behalf of the corporation;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WHEREAS</B>,
the Board of Directors of the Company (the &ldquo;<B>Board</B>&rdquo;) has determined that, in order to attract and retain qualified
individuals, the Company will attempt to maintain on an ongoing basis, at its sole expense, liability insurance to protect persons serving
the Company and its subsidiaries from certain liabilities. Although the furnishing of such insurance has been a customary and widespread
practice among United States-based corporations and other business enterprises, the Company believes that, given current market conditions
and trends, such insurance may be available to it in the future only at higher premiums and with more exclusions. At the same time, directors,
officers, and other persons in service to corporations or business enterprises are being increasingly subjected to expensive and time-consuming
litigation relating to, among other things, matters that traditionally would have been brought only against the Company or business enterprise
itself. The Bylaws and Certificate of Incorporation of the Company contemplate indemnification of the officers and directors of the Company.
Indemnitee may also be entitled to indemnification pursuant to the General Corporation Law of the State of Delaware (&ldquo;<B>DGCL</B>&rdquo;).
The Bylaws, Certificate of Incorporation and the DGCL expressly provide that the indemnification provisions set forth therein are not
exclusive, and thereby contemplate that contracts may be entered into between the Company and members of the board of directors, officers
and other persons with respect to indemnification;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WHEREAS</B>,
the uncertainties relating to such insurance and to indemnification have increased the difficulty of attracting and retaining such persons;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WHEREAS</B>,
the Board has determined that the increased difficulty in attracting and retaining such persons is detrimental to the best interests
of the Company&rsquo;s stockholders and that the Company should act to assure such persons that there will be increased certainty of
such protection in the future;</FONT></P>

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