SEC Contract Filing

Filing Date: 2018-02-08

Document Content:
<DOCUMENT>
<TYPE>EX-10.9
<SEQUENCE>14
<FILENAME>f8k0218ex10-9_purpleinnova.htm
<DESCRIPTION>FORM OF INDEMNIFICATION AGREEMENT
<TEXT>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit
10.9</FONT></P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
Indemnification Agreement (&ldquo;<B>Agreement</B>&rdquo;), dated as of February 2, 2018, is by and between Purple Innovation,
Inc., a Delaware corporation (the &ldquo;<B>Company</B>&rdquo;) and [NAME OF DIRECTOR/OFFICER] (the &ldquo;<B>Indemnitee</B>&rdquo;).</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHEREAS,
Indemnitee is a director and/or officer of the Company;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHEREAS,
both the Company and Indemnitee recognize the increased risk of litigation and other claims being asserted against directors and
officers of public companies;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHEREAS,
the board of directors of the Company (the &ldquo;<B>Board</B>&rdquo;) has determined that enhancing the ability of the Company
to retain and attract as directors and officers the most capable persons is in the best interests of the Company and that the
Company therefore should seek to assure such persons that indemnification and insurance coverage is available; and</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHEREAS,
in recognition of the need to provide Indemnitee with substantial protection against personal liability, in order to procure Indemnitee&rsquo;s
continued service as a director and/or officer of the Company and to enhance Indemnitee&rsquo;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&rsquo;s certificate of incorporation or bylaws (collectively, the &ldquo;<B>Constituent
Documents</B>&rdquo;), any change in the composition of 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 of, and the advancement of Expenses
(as defined in Section 1(f) below) to, Indemnitee as set forth in this Agreement and for the coverage of Indemnitee under the
Company&rsquo;s directors&rsquo; and officers&rsquo; liability insurance policies.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOW,
THEREFORE, in consideration of the foregoing and the Indemnitee&rsquo;s agreement to continue to provide services to the Company,
the parties agree as follows:</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal; vertical-align: baseline">1.&nbsp;&nbsp;<U>Definitions</U></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">.
For purposes of this Agreement, the following terms shall have the following meanings:</FONT></P>

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