SEC Contract Filing

Filing Date: 2021-02-16

Document Content:
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<TYPE>EX-10.1
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<FILENAME>d120319dex101.htm
<DESCRIPTION>EX-10.1
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<TITLE>EX-10.1</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>INDEMNIFICATION AGREEMENT </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">THIS INDEMNIFICATION AGREEMENT (&#147;Agreement&#148;) is made and entered into as of the ___ day of __________, 20__, by and between Life
Storage, Inc., a Maryland corporation (the &#147;Company&#148;), and ________________________ (&#147;Indemnitee&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, at the
request of the Company, Indemnitee currently serves as a director<B> </B>of the Company and may, therefore, be subjected to claims, suits or proceedings arising as a result of such service; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, as an inducement to Indemnitee to serve or continue to serve in such capacity, the Company has agreed to indemnify Indemnitee and to
advance expenses and costs incurred by Indemnitee in connection with any such claims, suits or proceedings, to the maximum extent permitted by law; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the parties by this Agreement desire to set forth their agreement regarding indemnification and advance of expenses; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, in consideration of the premises and the covenants contained herein, the Company and Indemnitee do hereby covenant and agree
as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;1. <U>Definitions</U>. For purposes of this Agreement: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) &#147;Change in Control&#148; means a change in control of the Company occurring after the Effective Date of a nature that would be
required to be reported in response to Item 6(e) of Schedule&nbsp;14A of Regulation&nbsp;14A (or in response to any similar item on any similar schedule or form) promulgated under the Securities Exchange Act of 1934, as amended (the &#147;Exchange
Act&#148;), whether or not the Company is then subject to such reporting requirement; provided, however, that, without limitation, such a Change in Control shall be deemed to have occurred if, after the Effective Date (i)&nbsp;any &#147;person&#148;
(as such term is used in Sections 13(d) and 14(d) of the Exchange Act) is or becomes the &#147;beneficial owner&#148; (as defined in Rule <FONT STYLE="white-space:nowrap">13d-3</FONT> under the Exchange Act), directly or indirectly, of securities of
the Company representing 20% or more of the combined voting power of all of the Company&#146;s then-outstanding securities entitled to vote generally in the election of directors without the prior approval of at least
<FONT STYLE="white-space:nowrap">two-thirds</FONT> of the members of the Board of Directors in office immediately prior to such person&#146;s attaining such percentage interest; (ii)&nbsp;the Company is a party to a merger, consolidation, sale of
assets, plan of liquidation or other reorganization not approved by at least <FONT STYLE="white-space:nowrap">two-thirds</FONT> of the members of the Board of Directors then in office, as a consequence of which members of the Board of Directors in
office immediately prior to such transaction or event constitute less than a majority of the Board of Directors thereafter; or (iii)&nbsp;at any time, a majority of the members of the Board of Directors are not individuals (A)&nbsp;who were
directors as of the Effective Date or (B)&nbsp;whose election by the Board of Directors or nomination for election by the Company&#146;s stockholders was approved by the affirmative vote of at least <FONT STYLE="white-space:nowrap">two-thirds</FONT>
of the directors then in office who were directors as of the Effective Date or whose election or nomination for election was previously so approved. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) &#147;Corporate Status&#148; means the status of a person as a present or former
director, officer, employee or agent of the Company or as a director, trustee, officer, partner, manager, managing member, fiduciary, employee or agent of any other foreign or domestic corporation, real estate investment trust, partnership, limited
liability company, joint venture, trust, employee benefit plan or other enterprise that such person is or was serving in such capacity at the request of the Company. As a clarification and without limiting the circumstances in which Indemnitee may
be serving at the request of the Company, service by Indemnitee shall be deemed to be at the request of the Company: (i)&nbsp;if Indemnitee serves or served as a director, trustee, officer, partner, manager, managing member, fiduciary, employee or
agent of any corporation, partnership, limited liability company, joint venture, trust or other enterprise (1)&nbsp;of which a majority of the voting power or equity interest is or was owned directly or indirectly by the Company or (2)&nbsp;the
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