FORM OF INDEMNITY AGREEMENTIndemnification & Liability • December 19th, 2006 • Gastar Exploration LTD • Crude petroleum & natural gas • Alberta
WHEREAS Section 124(1) of the Business Corporations Act (Alberta) (the “Act”), under which the Corporation is subsisting, provides that a corporation may indemnify a director or officer of the Corporation, a former director or officer of the Corporation or a person who acts or acted at the Corporation’s request as a director or officer of a body corporate of which the Corporation is or was a shareholder or creditor, against all costs, charges and expenses, including an amount paid to settle an action or satisfy a judgment, reasonably incurred by the director or officer in respect of any civil, criminal or administrative action or proceeding to which the director or officer is made a party by reason of being or having been a director or officer of that corporation or body corporate, if (a) the director or officer acted honestly and in good faith with a view to the best interests of the Corporation and (b) in the case of a criminal or administrative action or proceeding that is enforced
