INDEMNIFICATION AGREEMENT Dated as of December 15, 2004 between DOWNEY FINANCIAL CORP. ("DFC"), and ____________________________ ("Indemnitee")Indemnification Agreement • February 18th, 2005 • Downey Financial Corp • Savings institution, federally chartered • Delaware
WHEREAS, the Board of Directors has determined that the ability to attract and retain qualified persons as directors is important to the best interests of DFC’s stockholders and that DFC should act to protect such persons against risks of claims and actions against them arising out of their service to and activities on behalf of DFC; and
INDEMNIFICATION AGREEMENT Dated as of December 15, 2004 between DOWNEY SAVINGS AND LOAN ASSOCIATION, F.A. ("Downey Savings"), and ____________________________ ("Indemnitee")Indemnification Agreement • February 18th, 2005 • Downey Financial Corp • Savings institution, federally chartered
WHEREAS, the Board of Directors has determined that the ability to attract and retain qualified persons as directors is essential to the best interests of Downey Savings and that Downey Savings should act to assure such persons that there will be adequate certainty of protection through insurance and indemnification against risks of claims and actions against them arising out of their service to and activities on behalf of Downey Savings;
