SEC Contract Filing

Filing Date: 2022-12-15

Document Content:
<DOCUMENT>
<TYPE>EX-10.12
<SEQUENCE>2
<FILENAME>brhc10044478_ex10-12.htm
<DESCRIPTION>EXHIBIT 10.12
<TEXT>
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 <div style="text-align: right; font-weight: bold;">Exhibit 10.12</div>
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 <div style="text-align: right; font-style: italic; font-weight: bold;">Execution Version</div>
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 <div style="text-align: center; font-weight: bold;">ONEWATER MARINE INC.</div>
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 <div style="text-align: center; font-weight: bold;">INDEMNIFICATION AGREEMENT</div>
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 <div style="text-align: justify; text-indent: 36pt;">This Indemnification Agreement (&#8220;Agreement&#8221;) is made as of August 12, 2022 by and between OneWater Marine Inc., a Delaware corporation (the &#8220;Company&#8221;), and J. Steven Roy (&#8220;Indemnitee&#8221;).&#160; This
 Agreement supersedes and replaces any and all previous Agreements between the Company and Indemnitee covering the subject matter of this Agreement.</div>
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 <div style="text-align: center; font-weight: bold;">RECITALS</div>
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 <div style="text-align: justify; text-indent: 36pt;">WHEREAS, the Board of Directors of the Company (the &#8220;Board&#8221;) believes that highly competent persons have become more reluctant to serve publicly-held corporations as directors or officers 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;</div>
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 <div style="text-align: justify; text-indent: 36pt;">WHEREAS, the Board 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 Amended and Restated Certificate of Incorporation of the Company (as may be amended, the &#8220;Certificate of Incorporation&#8221;) and the Amended and Restated Bylaws of the Company (as may be amended, the &#8220;Bylaws&#8221;) provide for indemnification of
 the officers and directors of the Company to the fullest extent permitted by law. Indemnitee may also be entitled to indemnification pursuant to the General Corporation Law of the State of Delaware (the &#8220;DGCL&#8221;).&#160; The Certificate of Incorporation, the
 Bylaws 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;</div>
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 <div style="text-align: justify; text-indent: 36pt;">WHEREAS, the uncertainties relating to such insurance and to indemnification may increase the difficulty of attracting and retaining such persons;</div>
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 <div style="text-align: justify; text-indent: 36pt;">WHEREAS, the Board has determined that the increased difficulty in attracting and retaining such persons is detrimental to the best interests of the Company and its stockholders and that the Company
 should act to assure such persons that there will be increased certainty of such protection in the future;</div>
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 <div style="text-align: justify; text-indent: 36pt;">WHEREAS, it is reasonable, prudent and necessary for the Company contractually to obligate itself to indemnify, and to advance expenses on behalf of, such persons to the fullest extent permitted by
 applicable law so that they will serve or continue to serve the Company free from undue concern that they will not be so indemnified;</div>
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 <div style="text-align: justify; text-indent: 36pt;">WHEREAS, this Agreement is a supplement to and in furtherance of the Certificate of Incorporation and the Bylaws, and any resolutions adopted pursuant thereto, as well as any rights of Indemnitees
 under any directors&#8217; and officers&#8217; liability insurance policy, and this Agreement and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder; and</div>
 <div>&#160;</div>
 <div style="text-align: justify; text-indent: 36pt;">WHEREAS, Indemnitee does not regard the protection available under the Certificate of Incorporation, the Bylaws and insurance as adequate in th