EXHIBIT 10.34 (b)
Exhibit B
Indemnification Agreement
QUANTUM CORPORATION, a Delaware corporation, with its
primary business location at 000 XxXxxxxx Xxxxxxxxx,
Xxxxxxxx, Xxxxxxxxxx 00000 and Quantum Storage Malaysia
("QSM") (M) Sdn. Bhd. Malaysia (collectively "Quantum") and
IOMEGA CORPORATION, a Delaware Corporation with its primary
business location at 0000 Xxxx Xxxxxx Xxx, Xxx, XX 00000
and any future Malaysian subsidiary (collectively "Iomega")
execute the following indemnification agreement
("Agreement").
Agreement
Whereas, Quantum has agreed to cause its wholly owned
subsidiary, QSM to sell its facility located at Xxxx 00,
Xxxxx XX, Xxxxx Xxxx Xxxxx Xxxx, Xxxxxx, Xxxxxxxx ("the
Facility") and Iomgea has agreed to purchase the Facility,
and
Whereas, Iomega intends to operate the Facility but has not
received the necessary business permits ("Permits") from the
Malaysian government to do so,
and
Whereas, Quantum is in the process of shutting down the
Facility, and had scheduled the termination of the
employment of the majority of its employees,
and
Whereas, Iomega has issued offers of employment to
approximately 350 of Quantum's employees who were originally
scheduled for termination effective July 15, 1996 ("the
Iomega Employees"), and
Whereas, Iomega has requested Quantum to continue employment
of the Iomega employees until such time as Iomega has
received the Permits to allow it to employ the Iomega
Employees.
Whereas, Quantum has agreed to so act, provided that Iomega
indemnifies Quantum for any adverse consequence it might
suffer as a result of so acting.
Now therefore,
The parties hereby agree that Iomega will release, indemnify
and hold harmless Quantum, and all of its officers,
directors, employees, agents or successors in interests from
any and all expenses and/or costs, including but not limited
to, any legal expenses, claims, proceedings, and/or other
adverse monetary consequences associated with, or arising
out of, Quantum's continued employment of the Iomega
employees and/or the enforcement of this Agreement.
Quantum Corporation Iomega Corporation
By: /s/ Xxxx Xxxxxx By: /s/ Xxxxxx X. Xxxxxxxx
Xxxx Xxxxxx Xxxxxx X. Xxxxxxxx
Title: V.P., General Counsel Title:
Date: 7/12/96 Date: 7/15/96
