SEC Contract Filing

Filing Date: 2022-03-29

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>4
<FILENAME>ex_346224.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<html><head>
	<title>ex_346224.htm</title>

	<!-- Generated by ThunderDome Portal - 3/16/2022 4:18:53 AM --><meta charset="utf-8"><meta name="format-detection" content="telephone=no">
</head>
<body style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; padding: 0in 0.1in; cursor: auto;">
<p style="margin-bottom: 0px; text-align: right; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 10.1</b></font></p>

<p style="margin-bottom: 0px; text-align: left; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>INDEMNITY AGREEMENT</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify; text-indent: 36pt;"><font style="font-variant:small-caps;"><b>This Indemnity Agreement</b>&nbsp;</font>(this &#8220;<b>Agreement</b>&#8221;) dated as of ___________, 201_, is made by and between&nbsp;<font style="font-variant:small-caps;"><b>NovaBay Pharmaceuticals, Inc.</b></font>,&nbsp;a Delaware corporation (together with its successors and assigns, the &#8220;<b>Company</b>&#8221;), and&nbsp;<b>_________________</b>&nbsp;(&#8220;<b>Indemnitee</b>&#8221;).</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:small-caps;text-align:center;margin:0pt;"><b>Recitals</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:Times New Roman;font-size:10pt;">

 <tr>
 <td style="width:18pt;">&nbsp;</td>
 <td style="vertical-align:top;width:18pt;">
 <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>A.</b></p>
 </td>
 <td style="vertical-align:top;">
 <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">The Company desires to attract and retain highly qualified individuals to serve as Company directors and officers.</p>
 </td>
 </tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:Times New Roman;font-size:10pt;">

 <tr>
 <td style="width:18pt;">&nbsp;</td>
 <td style="vertical-align:top;width:18pt;">
 <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>B.</b></p>
 </td>
 <td style="vertical-align:top;">
 <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">The Company&#8217;s Board of Directors ("Board") has determined that, in order to attract and retain qualified individuals as directors and officers, the Company will attempt to maintain on an ongoing basis, at its sole expense, liability insurance to protect persons serving the Company from certain liabilities. Although the furnishing of such insurance has been a customary and widespread practice among United States-based 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 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.</p>
 </td>
 </tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:Times New Roman;font-size:10pt;">

 <tr>
 <td style="width:18pt;">&nbsp;</td>
 <td style="vertical-align:top;width:18pt;">
 <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>C.</b></p>
 </td>
 <td style="vertical-align:top;">
 <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">As authorized by the Delaware General Corporation Law, as amended (the &#8220;<b>Code</b>&#8221;), the Company&#8217;s bylaws (the &#8220;<b>Bylaws</b>&#8221;) require that the Company indemnify its directors and officers&nbsp;to the extent not prohibited by the Code, and permit the Company to indemnify its&nbsp;employees and agents. The Bylaws expressly provide that the indemnification provided therein is not exclusive and contemplate that the Company may enter into separate indemnification agreements with its directors, officers and other persons.</p>
 </td>
 </tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:Times New Roman;font-size:10pt;">

 <tr>
 <td style="width:18pt;">&nbsp;</td>
 <td style="vertical-align:top;width:18pt;">
 <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>D.</b></p>
 </td>
 <td style="vertical-align:top;">
 <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">This Agreement is a supplement to any liability insurance obtained by the Company for the benefit of directors and officers and in furtherance of the Bylaws and the Company&#8217;s Certificate of Incorporation ("<b>Certificate</b>"), and shall not be deemed a substitute therefor, nor diminish or abrogate any rights of Indemnitee thereunder.</p>
 </td>
 </tr>

</table>

<p style="font-family:'Ti