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Director and Officer Indemnification Agreement

 

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Title:

Director and Officer Indemnification Agreement

Entities:

Albertson’s, Inc.; New Albertsons Inc

Date:

2006

Size:

Preview shows 5KB of 22KB total

Price:

$37

ID:

#2531852

 

 

► Legal ► Indemnification ► Director & Officer Indemnification Agreements
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                 DIRECTOR AND OFFICER INDEMNIFICATION AGREEMENT


THIS DIRECTOR AND OFFICER INDEMNIFICATION AGREEMENT, dated as of _________
(this "Agreement"), is made by and between Albertson's, Inc., a Delaware
corporation (the "Company"), and ______________ ("Indemnitee").

RECITALS

A. It is important to the Company to attract and retain as directors and
officers the most capable persons reasonably available.

B. Indemnitee is a director and officer of the Company.

C. Both the Company and Indemnitee recognize the increased risk of
litigation and other claims being asserted against directors and officers of
companies in today's environment.

D. The Company's Restated Certificate of Incorporation and By-laws (the
"Constituent Documents") provide that the Company will indemnify its directors
and officers and the Company's By-laws provide that the Company will advance
expenses in connection therewith, and Indemnitee's willingness to serve as a
director and officer of the Company is based in part on Indemnitee's reliance on
such provisions.

E. In recognition of Indemnitee's need for substantial protection against
personal liability in order to enhance Indemnitee's continued service to the
Company in an effective manner, and Indemnitee's reliance on the aforesaid
provisions of the Constituent Documents, and to provide Indemnitee with express
contractual indemnification (regardless of, among other things, any amendment to
or revocation of such provisions or any change in the composition of the
Company's Board of Directors (the "Board") or any acquisition 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(c)) to Indemnitee as set forth in this Agreement and, to
the extent insurance is maintained, for the continued coverage of Indemnitee
under the Company's directors' and officers' liability insurance policies.

NOW, THEREFORE, the parties hereby agree as follows:

1. CERTAIN DEFINITIONS. In addition to terms defined elsewhere herein, the
following terms have the following meanings when used in this Agreement with
initial capital letters:

() "AFFILIATE" has the meaning given to that term in Rule 405 under
the Securities Act of 1933, provided, however, that for purposes of this
Agreement the Company and its subsidiaries will not be deemed to constitute
Affiliates of Indemnitee or the Indemnitee.

() "CLAIM" means any threatened, pending or completed action, suit or
proceeding, or any inquiry or investigation, whether instituted, made or
conducted by the Company or any other party, including without limitation any
governmental entity, that Indemnitee determines might lead to the institution of
any such action, suit or proceeding, whether civil, criminal, administrative,
arbitrative, investigative or other.

{PAGE}

() "EXPENSES" includes attorneys' and experts' fees, expenses and
charges and all other costs, expenses and obligations paid or incurred in
connection with investigating, defending, being a witness in or participating in
(including on appeal), or preparing to defend, be a witness in or participate
in, any Claim.

() "INDEMNIFIABLE LOSSES" means any and all Expenses, damages,
losses, liabilities, judgments, fines, penalties and amounts paid in settlement
(including without limitation all interest, assessments and other charges paid
or payable in connection with or in respect of any of the foregoing)
(collectively, "Losses") relating to, resulting from or arising out of any act
or failure to act by the Indemnitee, or his or her status as any person referred
to in clause (i) of this sentence, (i) in his or her capacity as a director,
officer, employee or agent of the Company, any of its Affiliates or any other
entity as to which the indemnitee is or was serving at the request of the
Company as a director, officer, employee, member, manager, trustee or agent of
another corporation, limited liability company, partnership, joint venture,
trust or other entity or enterprise, whether or not for profit and (ii) in
respect of any business, transaction or other activity of any entity referred to
in clause (i) of this sentence.

2. BASIC INDEMNIFICATION ARRANGEMENT. The Company will indemnify and hold
harmless Indemnitee, to the fullest extent permitted by the laws of the State of
Delaware in effect on the date hereof or as such laws may from time to time
hereafter be amended to increase the scope of such permitted indemnification,
against all Indemnifiable Losses relating to, resulting from or arising out of
any Claim. The failure by Indemnitee to notify the Company of such Claim will
not relieve the Company from any liability hereunder unless, and only to the
extent that, the Company did not otherwise learn of the Claim and such failure

 

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