SEC Contract Filing

Filing Date: 2023-10-12

Document Content:
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>9
<FILENAME>eh230409100_ex1005.htm
<DESCRIPTION>EXHIBIT 10.5
<TEXT>
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<TITLE></TITLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>EXHIBIT
10.5</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">This Indemnification Agreement (&#8220;<U>Agreement</U>&#8221;)
is made and entered into as of this __________________ by and among Party City Holdco Inc. (the &#8220;<U>Company</U>&#8221;), a Delaware
corporation, Party City Holdings Inc., a Delaware corporation (&#8220;<U>Opco</U>&#8221;, and together with the Company, the &#8220;<U>Party
City Companies</U>&#8221; and each a &#8220;<U>Party City Company</U>&#8221;), and [________] (&#8220;<U>Indemnitee</U>&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">WHEREAS, in light of the litigation costs and risks
to directors and officers resulting from their service to companies, and the desire of the Party City Companies to attract and retain
qualified individuals to serve as directors, it is reasonable, prudent and necessary for each of the Party City Companies to indemnify
and advance expenses on behalf of its directors and/or officers to the extent permitted by applicable law so that they will serve or continue
to serve the Party City Companies free from undue concern regarding such risks;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">WHEREAS, the Party City Companies have requested that
Indemnitee serve or continue to serve as a director and/or officer of one or more of the Party City Companies and may have requested or
may in the future request that Indemnitee serve one or more Party City Entities (as hereinafter defined) as a director or officer or in
other capacities;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">WHEREAS, Indemnitee is willing to serve as a director
and/or officer of one or more of the Party City Companies on the condition that Indemnitee be so indemnified; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">WHEREAS, Indemnitee may have certain rights to indemnification,
advancement of expenses and/or insurance provided by the Designating Stockholders (as hereinafter defined) (or their affiliates), which
Indemnitee, the Party City Companies and the Designating Stockholders (or their affiliates) intend to be secondary to the primary obligation
of the Party City Companies to indemnify Indemnitee as provided herein, with the Party City Companies&#8217; acknowledgement of and agreement
to the foregoing being a material condition to Indemnitee&#8217;s willingness to serve as a director and/or officer of one or more of
the Party City Companies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">NOW, THEREFORE, in consideration of the premises and
the covenants contained herein, the Party City Companies and Indemnitee do hereby covenant and agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Services by Indemnitee</U>. Indemnitee agrees to serve as a director and/or officer of one or more of the Party City Companies.
Indemnitee may at any time and for any reason resign from such position (subject to any contractual obligation under any other agreement
or any obligation imposed by operation of law).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Indemnification - General</U>. On the terms and subject to the conditions of this Agreement and the Stockholders Agreement,
the Party City Companies shall, to the fullest extent permitted by law, indemnify Indemnitee with respect to, and hold Indemnitee harmless
from and against, all losses, liabilities, judgments, fines, penalties, costs, amounts paid in settlement, Expenses (as hereinafter defined)
and other amounts that Indemnitee reasonably incurs and that result from, arise in connection with or are by reason of Indemnitee&#8217;s
Corporate Status (as hereinafter defined) (collectively, the &#8220;<U>Indemnified Losses</U>&#8221;) and shall advance Expenses to</P>

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