SEC Contract Filing

Filing Date: 2018-02-12

Document Content:
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<TYPE>EX-10.16
<SEQUENCE>22
<FILENAME>a17-7305_14ex10d16.htm
<DESCRIPTION>EX-10.16
<TEXT>

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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 10.16<a name="Exhibit10_16_112922"></a></font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">INDEMNIFICATION AGREEMENT</font></b></p>
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<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Indemnification Agreement (&#147;<u>Agreement</u>&#148;) is made effective as of February&nbsp;12, 2018, by and between Cactus,&nbsp;Inc., a Delaware corporation (the &#147;<u>Corporation</u>&#148;), and Gary Rosenthal, an individual resident of the State of Texas (&#147;<u>Indemnitee</u>&#148;).</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">RECITALS:</font></u></p>
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<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, directors, officers and other persons in service to corporations or business enterprises are subjected to expensive and time-consuming litigation relating to, among other things, matters that traditionally would have been brought only against the business enterprise itself;</font></p>
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<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, highly competent persons have become more reluctant to serve as directors, officers or in other capacities unless they are provided with adequate protection through insurance and adequate indemnification against inordinate risks of claims and actions against them arising out of their service to and activities on behalf of the entity at which they serve;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, the Board of Directors of the Corporation (the &#147;<u>Board</u>&#148;) has determined that the increased difficulty in attracting and retaining such persons is detrimental to the best interests of the Corporation and its stockholders and that the Corporation should act to assure such persons that there will be increased certainty of such protection in the future;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, (i)&nbsp;the Amended and Restated Bylaws of the Corporation (as may be amended, the &#147;<u>Bylaws</u>&#148;) require indemnification of the officers and directors of the Corporation, (ii)&nbsp;Indemnitee may also be entitled to indemnification pursuant to the General Corporation Law of the State of Delaware (&#147;<u>DGCL</u>&#148;) and (iii)&nbsp;the Bylaws and the DGCL each expressly provide that the indemnification provisions set forth therein are not exclusive and thereby contemplate that contracts may be entered into between the Corporation and members of the Board, officers and other persons with respect to indemnification;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, this Agreement is a supplement to the Bylaws and the Amended and Restated Certificate of Incorporation of the Corporation (as may be amended, the &#147;<u>Certificate of Incorporation</u>&#148;) and any resolutions adopted pursuant thereto, and shall not diminish or abrogate any rights of Indemnitee thereunder; and</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, (i)&nbsp;Indemnitee does not regard the protection available under the Bylaws and insurance as adequate in the present circumstances, (ii)&nbsp;Indemnitee may not be willing to serve or continue to serve as a director or officer of the Corporation without adequate protection, (iii)&nbsp;the Corporation desires Indemnitee to serve in such capacity, and (iv)&nbsp;Indemnitee is willing to serve, continue to serve and to take on additional service for or on behalf of the Corporation on the condition that he or she be so indemnified.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">AGREEMENT:</font></u></p>
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<p style="margin:0in 0in .0001pt;text-indent:.5in;"><f