Exhibit 10.55
INDEMNIFICATION AGREEMENT
This INDEMNIFICATION AGREEMENT (the "Agreement") is made and entered
into as of this 31st day of August, 2000, by and between D and W Holdings, Inc.,
Delaware corporation and each entity listed on SCHEDULE A hereto, as the same
may be amended, modified or supplemented from time to time or at any time, (each
a "Company" and, collectively, including any successors thereto, the
"Companies"), and Xxxxxxx Xxxxxxxxxx ("Indemnitee").
RECITALS:
A. Competent and experienced persons are reluctant to serve or to
continue to serve corporations as directors, officers or in other capacities
unless they are provided with adequate protection through insurance or
indemnification (or both) against claims and actions against them arising out of
their service to and activities on behalf of those corporations.
B. The current uncertainties relating to the availability of adequate
insurance for directors and officers have increased the difficulty for
corporations to attract and retain competent and experienced persons.
C. The Boards of Directors of each of the Companies (the "Boards") have
determined that the continuation of present trends in litigation will make it
more difficult to attract and retain competent and experienced persons, that
this situation is detrimental to the best interests of the Companies'
stockholders, and that the Companies should act to assure their directors and
officers that there will be increased certainty of adequate protection in the
future.
D. It is reasonable, prudent and necessary for the Companies to
obligate themselves contractually to indemnify their directors and officers to
the fullest extent permitted by applicable law in order to induce them to serve
or continue to serve the Companies.
E. Indemnitee is willing to serve and continue to serve the Companies
on the condition that he be indemnified to the fullest extent permitted by law.
F. Concurrently with the execution of this Agreement, Indemnitee is
agreeing to serve or to continue to serve as a director or officer of the
Companies.
AGREEMENTS:
NOW, THEREFORE, in consideration of the foregoing premises,
Indemnitee's agreement to serve or continue to serve as a director or officer
of the Companies, and the covenants contained in this Agreement, the
Companies and Indemnitee hereby covenant and agree as follows:
1. Certain Definitions:
For purposes of this Agreement:
a. Affiliate: shall mean any Person that directly, or
indirectly, through one or more intermediaries,
controls, is controlled by, or is under common
control with the Person specified.
b. Change of Control: shall mean the occurrence of any
of the following events:
(i) The acquisition after the date of this
Agreement by any individual, entity, or
group (within the meaning of Section
13(d)(3) or 14(d)(2) of the Securities
Exchange Act of 1934, as amended (the
"Exchange Act")) (a "Person") of beneficial
ownership (within the meaning of Rule 13d-3
promulgated under the Exchange Act) of 50%
or more of either (x) the then outstanding
shares of common stock of the relevant
Company (the "Outstanding Company Common
Stock") or (y) the combined voting power of
the then outstanding voting securities of
the relevant Company entitled to vote
generally in the election of directors (the
"Outstanding Company Voting Securities");
provided, however, that for purposes of this
paragraph (i), the following acquisitions
shall not constitute a Change of Control:
(A) any acquisition directly from the
relevant Company or any Subsidiary thereof,
(B) any acquisition by the relevant Company
or any Subsidiary thereof, (C) any
acquisition by any employee benefit plan (or
related trust) sponsored or maintained by
the relevant Company or any Subsidiary of
the relevant Company, (D) any acquisition by
one or more members of the Investor Group,
or (E) any acquisition by any entity or its
security holders pursuant to a transaction
which complies with clauses (A), (B), and
(C) of paragraph (iii) below; or
(ii) Individuals who, as of the date of this
Agreement, constitute the Boards (the
"Incumbent Boards") cease for any reason to
constitute at least a majority of the
relevant Board; provided, however,
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that any individual becoming a director
subsequent to the date of this Agreement (A)
who is appointed by a member of the Investor
Group, or (B) whose election, or nomination
for election by the relevant Company's
stockholders, was approved by a vote of at
least a majority of the directors then
comprising the relevant Incumbent Board,
shall be considered as though such
individual were a member of the relevant
Incumbent Board, but excluding, for this
purpose, any such individual whose initial
assumption of office occurs as a result of
an actual or threatened election contest
with respect to the election or removal of
directors or other actual or threatened
solicitation of proxies or consents by or on
behalf of a Person other than the relevant
Board; or
(iii) Consummation of a reorganization, merger, or
consolidation or sale or other disposition
of all or substantially all of the assets of
the relevant Company or an acquisition of
assets of another entity (a "Business
Combination"), other than a Business
Combination with one or more members of the
Investor Group, in each case, unless,
immediately following such Business
Combination, (A) all or substantially all of
the individuals and entities who were the
beneficial owners, respectively, of the
Outstanding Company Common Stock and
Outstanding Company Voting Securities
immediately prior to such Business
Combination beneficially own, directly or
indirectly, more than 50% of, respectively,
the then outstanding shares of common stock
or other equity interests and the combined
voting power of the then outstanding voting
securities entitled to vote generally in the
election of directors (or similar governing
body), as the case may be, of the entity
resulting from such Business Combination
(including, without limitation, an entity
which as a result of such transaction owns
the relevant Company or all or substantially
all of the relevant Company's assets either
directly or through one or more
Subsidiaries) in proportions not materially
different from their ownership, immediately
prior to such Business Combination, of the
Outstanding Company Common Stock and
Outstanding Company Voting Securities, as
the case may be, (B) no Person (excluding
any entity resulting from such Business
Combination or any employee benefit plan (or
related trust) of the relevant Company or
such entity resulting from such Business
Combination or any Subsidiary of either of
them) beneficially owns, directly or
indirectly, 20% or more of, respectively,
the then outstanding
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shares of common stock of the entity
resulting from such Business Combination
or the combined voting power of the then
outstanding voting securities of such
entity except to the extent that such
ownership existed prior to the Business
Combination, and (C) at least a majority
of the members of the board of directors
(or similar governing body) of the entity
resulting from such Business Combination
were members of the Incumbent Board at
the time of the execution of the initial
agreement, or of the action of the Board,
providing for such Business Combination;
or
(iv) Approval by the stockholders of the relevant
Company of a complete liquidation or
dissolution of such Company.
c. Claim: shall mean any threatened, pending, or
completed action, suit or proceeding (including,
without limitation, securities laws actions, suits
and proceedings and also any cross claim or
counterclaim in any action, suit or proceeding),
whether civil, criminal, arbitral, administrative or
investigative in nature, or any inquiry or
investigation (including discovery), whether
conducted by the Companies or any other Person, that
Indemnitee in good faith believes might lead to the
institution of any action, suit or proceeding.
d. Expenses: shall mean all costs, expenses (including
attorneys' and expert witnesses' fees), and
obligations paid or incurred in connection with
investigating, defending (including affirmative
defenses and counterclaims), being a witness in, or
participating in (including on appeal), or preparing
to defend, be a witness in, or participate in, any
Claim relating to any Indemnifiable Event.
e. Indemnifiable Event: shall mean any actual or alleged
act, omission, statement, misstatement, event or
occurrence related to the fact that Indemnitee is or
was a director, officer, agent or fiduciary of any of
the Companies, or is or was serving at the request of
any of the Companies as a director, officer, trustee,
agent or fiduciary of another corporation,
partnership, joint venture, employee benefit plan,
trust, or other enterprise, or by reason of any
actual or alleged thing done or not done by
Indemnitee in any such capacity. For purposes of this
Agreement, the Companies agrees that Indemnitee's
service on behalf of or with respect to any
Subsidiary or employee benefits plan of any of the
Companies or any Subsidiary of any of the Companies
shall be deemed to be at the request of such Company.
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f. Indemnifiable Liabilities: shall mean all Expenses
and all other liabilities, damages (including,
without limitation, punitive, exemplary, and the
multiplied portion of any damages), judgments,
payments, fines, penalties, amounts paid by
Indemnitee in settlement solely with the Companies'
consent (such consent not to be unreasonably
withheld), and awards paid or incurred that arise out
of, or in any way relate to, any Indemnifiable Event.
g. Investor Group: shall include Ardshiel, Inc.,
Ardatrium L.L.C., Arddoor L.L.C., Ardwing X.XX.,Wing
Partners L.L.C., GE Investment Private Placement
Partners II, a Limited Partnership and each of their
respective affiliates.
h. Potential Change of Control: shall be deemed to have
occurred if (i) any of the Companies enters into an
agreement, the consummation of which would result in
the occurrence of a Change of Control of any of the
Companies; (ii) any Person (including any of the
Companies) commences a tender offer that, if
consummated, would constitute a Change of Control of
any of the Companies; or (iii) any of the Board
adopts a resolution to the effect that, for purposes
of this Agreement, a Potential Change of Control of
any of the Companies has occurred.
i. Reviewing Party: shall mean (i) a member or members
of the Board who are not parties to the particular
Claim for which Indemnitee is seeking indemnification
or (ii) if a Change of Control of any of the
Companies has occurred and Indemnitee so requests, or
if the members of the Board so elect, or if all of
the members of the Board are parties to such Claim,
Special Counsel.
j. Special Counsel: shall mean special, independent
legal counsel selected by Indemnitee and approved by
the Companies (which approval shall not be
unreasonably withheld), and who has not otherwise
performed material services for any of the Companies
or for Indemnitee within the last three years (other
than as Special Counsel under this Agreement or
similar agreements).
k. Subsidiary: shall mean, with respect to any Person,
any corporation or other entity of which a majority
of the voting power of the voting equity securities
or equity interest is owned, directly or indirectly,
by that Person.
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2. Indemnification and Expense Advancement.
a. The Companies shall, jointly and severally, indemnify
Indemnitee and hold Indemnitee harmless to the
fullest extent permitted by Section 145 of the
Delaware General Corporation Law, as soon as
practicable but in any event no later than 30 days
after written demand is presented to the Companies,
from and against any and all Indemnifiable
Liabilities.
Notwithstanding the foregoing, the obligations of the
Companies under Section 2(a) shall be subject to the
condition that the Reviewing Party shall not have
determined (in a written opinion, in any case in
which Special Counsel is involved) that Indemnitee is
not permitted to be indemnified under applicable law.
Nothing contained in this Agreement shall require any
determination under this Section 2(a) to be made by
the Reviewing Party prior to the disposition or
conclusion of the Claim against the Indemnitee.
b. If so requested by Indemnitee, the Companies shall
advance to Indemnitee all reasonable Expenses
incurred by Indemnitee to the fullest extent
permitted by law (or, if applicable, reimburse
Indemnitee for any and all reasonable Expenses
incurred by Indemnitee and previously paid by
Indemnitee) within ten business days after such
request (an "Expense Advance"). The Companies shall
be obligated from time to time at the request of
Indemnitee to make or pay an Expense Advance in
advance of the final disposition or conclusion of any
Claim. In connection with any request for an Expense
Advance, if requested by the Companies, Indemnitee or
Indemnitee's counsel shall submit an affidavit
stating that the Expenses to which the Expense
Advances relate are reasonable. Any dispute as to the
reasonableness of any Expense shall not delay an
Expense Advance by the Companies. If, when, and to
the extent that the Reviewing Party determines that
(i) Indemnitee would not be permitted to be
indemnified with respect to a Claim under applicable
law or (ii) the amount of the Expense Advance was not
reasonable, the Companies shall be entitled to be
reimbursed by Indemnitee and Indemnitee hereby agrees
to reimburse the Companies without interest (which
agreement shall be an unsecured obligation of
Indemnitee) for (x) all related Expense Advances
theretofore made or paid by the Companies in the
event that it is determined that indemnification
would not be permitted or (y) the excessive portion
of any Expense Advances in the event that it is
determined that such Expenses Advances were
unreasonable; provided, however, that if Indemnitee
has commenced legal proceedings in a court of
competent jurisdiction to secure a determination that
Indemnitee could be
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indemnified under applicable law, or that the
Expense Advances were reasonable, any
determination made by the Reviewing Party that
Indemnitee would not be permitted to be
indemnified under applicable law or that the
Expense Advances were unreasonable; shall not be
binding, and the Companies shall be obligated to
continue to make Expense Advances, until a final
judicial determination is made with respect
thereto (as to which all rights of appeal
therefrom have been exhausted or lapsed), which
determination shall be conclusive and binding. If
there has been a Change of Control of any of the
Companies, the Reviewing Party shall be Special
Counsel, if Indemnitee so requests. If there has
been no determination by the Reviewing Party or if
the Reviewing Party determines that Indemnitee
substantively is not permitted to be indemnified
in whole or part under applicable law or that any
Expense Advances were unreasonable, Indemnitee
shall have the right to commence litigation in any
court in the states of Texas, New York or Delaware
having subject matter jurisdiction thereof and in
which venue is proper seeking an initial
determination by the court or challenging any such
determination by the Reviewing Party or any aspect
thereof, and the Companies hereby consent to
service of process and to appear in any such
proceeding. Any determination by the Reviewing
Party otherwise shall be conclusive and binding on
the Companies and Indemnitee.
c. Nothing in this Agreement, however, shall require the
Companies to indemnify Indemnitee with respect to any
Claim initiated by Indemnitee, other than a Claim
solely seeking enforcement of the Companies'
indemnification obligations to Indemnitee or a Claim
authorized by the Board.
3. Change of Control. The Companies agree that, if there is a Potential
Change of Control or a Change of Control of any of the Companies and if
Indemnitee requests in writing that Special Counsel be the Reviewing Party, then
Special Counsel shall be the Reviewing Party. In such a case, the Companies
agree not to request or seek reimbursement from Indemnitee of any
indemnification payment or Expense Advances unless Special Counsel has rendered
its written opinion to the Companies and Indemnitee that the Companies were not
or are not permitted under applicable law to indemnify Indemnitee or that such
Expense Advances were unreasonable. However, if Indemnitee has commenced legal
proceedings in a court of competent jurisdiction to secure a determination that
Indemnitee could be indemnified under applicable law or that the Expense
Advances were reasonable, any determination made by Special Counsel that
Indemnitee would not be permitted to be indemnified under applicable law or that
the Expense Advances were unreasonable shall not be binding, and the Companies
shall be obligated to continue to make Expense Advances, until a final judicial
determination is made with respect
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thereto (as to which all rights of appeal therefore have been exhausted or
lapsed), which determination shall be conclusive and binding. The Companies
agree to pay the reasonable fees of Special Counsel and to indemnify Special
Counsel against any and all expenses (including attorneys' fees), claims,
liabilities, and damages arising out of or relating to this Agreement or
Special Counsel's engagement pursuant hereto.
4. Establishment of Trust. In the event of a Potential Change of
Control or a Change of Control of any of the Companies, the Companies shall,
upon written request by Indemnitee, create a trust for the benefit of
Indemnitee (the "Trust") and from time to time upon written request of
Indemnitee shall fund the Trust in an amount equal to all Indemnifiable
Liabilities reasonably anticipated at the time to be incurred in connection
with any Claim. The amount to be deposited in the Trust pursuant to the
foregoing funding obligation shall be determined by the Reviewing Party. The
terms of the Trust shall provide that, upon a Change of Control of any of the
Companies, (i) the Trust shall not be revoked or the principal thereof
invaded, without the written consent of Indemnitee; (ii) the trustee of the
Trust shall advance, within ten business days of a request by Indemnitee, any
and all reasonable Expenses (any determination concerning the reasonableness
of the Expenses shall be made by the Reviewing Party) to Indemnitee (and
Indemnitee hereby agrees to reimburse the Trust under the circumstances in
which Indemnitee would be required to reimburse the Companies for Expense
Advances under this Agreement), (iii) the Trust shall continue to be funded
by the Company in accordance with the funding obligation set forth above;
(iv) the trustee of the Trust shall promptly pay to Indemnitee all amounts
for which Indemnitee shall be entitled to indemnification pursuant to this
Agreement; and (v) all unexpended funds in the Trust shall revert to the
Companies upon a final determination by the Reviewing Party or a court of
competent jurisdiction, as the case may be, that Indemnitee has been fully
indemnified under the terms of this Agreement. The trustee of the Trust shall
be chosen by Indemnitee, and shall be a financial institution that is not
affiliated with Indemnitee. Nothing in this Section 4 shall relieve the
Companies of any of their obligations under this Agreement.
5. Indemnification for Additional Expenses. The Companies shall
indemnify Indemnitee against any and all costs and expenses (including
attorneys' and expert witnesses' fees) and, if requested by Indemnitee, shall
(within two business days of that request) advance those costs and expenses to
Indemnitee that are incurred by Indemnitee if Indemnitee, whether by formal
proceedings or through demand and negotiation without formal proceedings: (a)
seeks to enforce Indemnitee's rights wider this Agreement, (b) seeks to enforce
Indemnitee's rights to expense advancement or indemnification under any other
agreement or provision of any of the Companies' Certificate of Incorporation
(the "Certificate of Incorporation") or Bylaws (the "Bylaws") now or hereafter
in effect relating to Claims for Indemnifiable Events, or (c) seeks recovery
under any directors' and officers' liability insurance policies maintained by
the Companies, in each case regardless of whether Indemnitee ultimately
prevails; provided that a court of competent jurisdiction has not found
Indemnitee's claim for indemnification or expense
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advancements under the foregoing clauses (a), (b) or (c) to be frivolous,
presented for an improper purpose, without evidentiary support, or otherwise
sanctionable under Federal Rule of Civil Procedure No. 11 or an analogous
rule or law, and provided further, that if a court makes such a finding,
Indemnitee shall reimburse the Companies for all amounts previously advanced
to Indemnitee pursuant to this Section 5. Subject to the provisos contained
in the preceding sentence, to the fullest extent permitted by law, the
Companies waive any and all rights that they may have to recover its costs
and expenses from Indemnitee.
6. Partial Indemnity. If Indemnitee is entitled under any provision of
this Agreement to indemnification by the Companies for some, but not all, of
Indemnitee's Indemnifiable Liabilities, the Companies shall indemnify Indemnitee
for the portion thereof to which Indemnitee is entitled.
7. Contribution.
a. Contribution Payment. To the extent the
indemnification provided for under any provision of
this Agreement is determined (in the manner herein
above provided) not to be permitted under applicable
law, the Companies, in lieu of indemnifying
Indemnitee, shall, to the extent permitted by law,
contribute to the amount of any and all Indemnifiable
Liabilities incurred or paid by Indemnitee for which
such indemnification is not permitted. The amount the
Companies contribute shall be in such proportion as
is appropriate to reflect the relative fault of
Indemnitee, on the one hand, and of the Companies and
any and all other parties (including officers and
directors of the Companies other than Indemnitee) who
may be at fault (collectively, including the
Companies, the "Third Parties"), on the other hand.
b. Relative Fault. The relative fault of the Third
Parties and the Indemnitee shall be determined (i) by
reference to the relative fault of Indemnitee as
determined by the court or other governmental agency
or (ii) to the extent such court or other
governmental agency does not apportion relative
fault, by the Reviewing Party after giving effect to,
among other things, the relative intent, knowledge,
access to information, and opportunity to prevent or
correct the relevant events, of each party, and other
relevant equitable considerations.
c. The Companies and Indemnitee agree that it would not
be just and equitable if contribution were determined
by pro rata allocation or by any other method of
allocation that does take account of the equitable
considerations referred to in this Section 7(b).
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8. Assumption of Defense by the Companies. Except as otherwise
provided below, any of the Companies, jointly with any other indemnifying
party similarly notified, will be entitled to assume the defense of any
Claim, with counsel reasonably satisfactory to Indemnitee. Indemnitee shall
have the right to employ his own counsel in connection with such Claim but
the fees and expenses of such counsel incurred after notice from any of the
Companies of its assumption of the defense thereof shall be at the expense of
Indemnitee unless (i) the employment of counsel by Indemnitee has been
authorized by the Companies, (ii) Indemnitee shall have reasonably concluded
that there may be a conflict of interest between the Companies and Indemnitee
in the conduct of such defense or (iii) the Companies shall not in fact have
employed counsel to assume the defense of such action, in each of which cases
the fees and expenses of Indemnitee's counsel shall be subject to
reimbursement in accordance with the terms of this Agreement. The Companies
shall not be entitled to assume Indemnitee's defense of any Claim brought by
the Companies or as to which Indemnitee shall have reached the conclusion
provided for in clause (ii) above.
9. Burden of Proof. In connection with any determination by the
Reviewing Party or otherwise as to whether Indemnitee is entitled to be
indemnified under any provision of this Agreement or to receive contribution
pursuant to Section 7 of this Agreement, to the extent permitted by law the
burden of proof shall be on the Companies to establish that Indemnitee is not so
entitled.
10. No Presumption. For purposes of this Agreement, the termination of
any Claim by judgment, order, settlement (whether with or without court
approval), or conviction, or upon a plea of nolo contendere, or its equivalent,
or an entry of an order of probation prior to judgment shall not create a
presumption (other than any presumption arising as a matter of law that the
parties may not contractually agree to disregard) that Indemnitee did not meet
any particular standard of conduct or have any particular belief or that a court
has determined that indemnification is not permitted by applicable law.
11. Non-exclusivity. The rights of Indemnitee hereunder shall be in
addition to any other rights Indemnitee may have under the Bylaws or Certificate
of Incorporation or the Delaware General Corporation Law or otherwise. To the
extent that a change in the Delaware General Corporation Law (whether by statute
or judicial decision) permits greater indemnification by agreement than would be
afforded currently under this Agreement, it is the intent of the parties hereto
that Indemnitee shall enjoy by this Agreement the greater benefits so afforded
by that change. Indemnitee's rights under this Agreement shall not be diminished
by any amendment to the Certificate of Incorporation or Bylaws, or of any other
agreement or instrument to which Indemnitee is not a party, and shall not
diminish any other rights that Indemnitee now or in the future has against the
Companies.
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12. Liability Insurance. Except as otherwise agreed to by the Companies
and Indemnitee in a written agreement, to the extent the Companies maintains an
insurance policy or policies providing directors' and officers' liability
insurance, Indemnitee shall be covered by that policy or those policies, in
accordance with its or their terms, to the maximum extent of the coverage
available for any Company director or officer.
13. Period of Limitations. No action, lawsuit, or proceeding may be
brought against Indemnitee or Indemnitee's spouse, heirs, executors, or personal
or legal representatives, nor may any cause of action be asserted in any such
action, lawsuit or proceeding, by or on behalf of the Companies, after the
expiration of two years after the statute of limitations commences with respect
to Indemnitee's act or omission that gave rise to the action, lawsuit,
proceeding or cause of action; provided, however, that, if any shorter period of
limitations is otherwise applicable to any such action, lawsuit, proceeding or
cause of action, the shorter period shall govern.
14. Amendments. No supplement, modification or amendment of this
Agreement shall be binding unless executed in writing by both of the parties
hereto. No waiver of any provision of this Agreement shall be effective
unless in a writing signed by the party granting the waiver. No waiver of any
of the provisions of this Agreement shall be deemed or shall constitute a
waiver of any other provisions hereof (whether or not similar) nor shall that
waiver constitute a continuing waiver.
15. Other Sources. Indemnitee shall not be required to exercise any
rights that Indemnitee may have against any other Person (for example, under an
insurance policy) before Indemnitee enforces his rights under this Agreement.
However, to the extent the Companies actually indemnify Indemnitee or advances
him Expenses, the Companies shall be subrogated to the rights of Indemnitee and
shall be entitled to enforce any such rights which Indemnitee may have against
third parties. Indemnitee shall assist the Companies in enforcing those rights
if it pays his costs and expenses of doing so. If Indemnitee is actually
indemnified or advanced Expenses by any third party, then, for so long as
Indemnitee is not required to disgorge the amounts so received, to that extent
the Companies shall be relieved of their obligation to indemnify Indemnitee or
advance Indemnitee Expenses.
16. Binding Effect. This Agreement shall be binding upon and inure to
the benefit of and be enforceable by the parties hereto and their respective
successors, assigns (including any direct or indirect successor by merger or
consolidation), spouses, heirs and personal and legal representatives. This
Agreement shall continue in effect regardless of whether Indemnitee continues to
serve as an officer or director of the Companies or another enterprise at the
Companies' request.
17. Severability. If any provision of this Agreement is held to be
illegal, invalid, or unenforceable under present or future laws effective during
the term hereof, that provision shall
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be fully severable; this Agreement shall be construed and enforced as if that
illegal, invalid, or unenforceable provision had never comprised a part hereof;
and the remaining provisions shall remain in full force and effect and shall not
be affected by the illegal, invalid or unenforceable provision or by its
severance from this Agreement. Furthermore, in lieu of that illegal, invalid, or
unenforceable provision, there shall be added automatically as a part of this
Agreement a provision as similar in terms to the illegal, invalid, or
unenforceable provision as may be possible and be legal, valid, and enforceable.
18. Governing Law. This Agreement shall be governed by and construed
and enforced in accordance with the laws of the State of Delaware applicable to
contracts made and to be performed in that state without giving effect to the
principles of conflicts of laws.
19. Headings. The headings contained in this Agreement are for
reference purposes only and shall not affect in any way the meaning or
interpretation of this Agreement.
20. Notices. Whenever this Agreement requires or permits notice to be
given by one party to the other, such notice must be in writing to be effective
and shall be deemed delivered and received by the party to whom it is sent upon
actual receipt (by any means) of such notice. Receipt of a notice by the
Secretary of a Company shall be deemed receipt of such notice by such Company.
21. Complete Agreement. This Agreement constitutes the complete
understanding and agreement among the parties with respect to the subject matter
hereof and supersedes all prior agreements and understandings between the
parties with respect to the subject matter hereof, other than any
indemnification rights that Indemnitee may enjoy under the Certificate of
Incorporation, the Bylaws or the Delaware General Corporation Law.
22. Effective Date. This Agreement shall be effective as of October 2,
1998.
23. Counterparts. This Agreement may be executed in two or more
counterparts, all of which were taken together shall be deemed one and the same
instrument.
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EXECUTED as of the date first written above.
D AND W HOLDINGS, INC.
By:
----------------------------
ATRIUM CORPORATION
By:
----------------------------
ATRIUM COMPANIES, INC.
By:
----------------------------
ATRIUM DOOR AND WINDOW
COMPANY - WEST COAST
By:
----------------------------
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ATRIUM DOOR AND WINDOW
COMPANY OF THE NORTHEAST
By:
----------------------------
ATRIUM DOOR AND WINDOW
COMPANY OF NEW YORK
By:
----------------------------
ATRIUM DOOR AND WINDOW
COMPANY OF ARIZONA
By:
----------------------------
ATRIUM DOOR AND WINDOW
COMPANY OF NEW ENGLAND
By:
----------------------------
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HEAT, INC.
By:
----------------------------
THERMAL INDUSTRIES, INC.
By:
----------------------------
BEST BUILT, INC.
By:
----------------------------
CHAMPAGNE INDUSTRIES, INC.
By:
----------------------------
INDEMNITEE
_________________________________
SCHEDULE A
Atrium Corporation, a Delaware corporation
Atrium Companies, Inc., a Delaware corporation
Atrium Door and Window Company West Coast, a Texas corporation
Atrium Door and Window Company of the Northeast, a Connecticut corporation
Atrium Door and Window Company of New York, a Connecticut corporation
Atrium Door and Window Company of Arizona, a Delaware corporation
Atrium Door and Window Company of New England, a Connecticut corporation
Heat, Inc., a Delaware corporation
Thermal Industries, Inc., a Delaware corporation
Best Built, Inc., a Delaware corporation
Champagne Industries, Inc., a Colorado corporation
