Exhibit 10.7
INDEMNIFICATION AGREEMENT
THIS AGREEMENT, made and entered into as of day of between Cisco Systems, Inc., a California corporation (" Corporation" ), and (" Officer" ),
WITNESSETH THAT:
WHEREAS, Officer is an executive officer of Corporation, and in such capacity performs a valuable service for Corporation; and
WHEREAS, in accordance with the authorization provided by Section 204(a)(11) of the California General Corporation Code, as amended (" Code" ), Article V of the Restated Articles of Incorporation, as amended (the " Articles" ), authorizes Corporation to provide indemnification to its officers through agreements with such officers in excess of the indemnification otherwise permitted by Section 317 of the Code; and
WHEREAS, Corporation recognizes that the indemnification provided by this Agreement is of great importance in attracting highly qualified individuals, such as Officer, to serve as executive officers of Corporation; and
WHEREAS, in order to induce Officer to continue to serve as an executive officer of Corporation, Corporation has determined and agreed to enter into this Agreement with Officer for the purpose of fully implementing the provisions of Sections 204(a)(11) and 317 of the Code and Article V of the Articles;
NOW, THEREFORE, in consideration of Officer' s continued service as a Officer after the date hereof, the parties hereto agree as follows:
1. Indemnity of Officer . Corporation hereby agrees to hold harmless and indemnify Officer to the fullest extent authorized by the provisions of Section 317 of the Code, as it may be amended from time to time.
2. Additional Indemnity . Subject only to the limitations set forth in Section 3 hereof, Corporation hereby further agrees to hold harmless and indemnify Officer:
(a) against any and all expenses (including attorneys' fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by Officer in connection with any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (including an action by or in the right of Corporation) to which Officer is, was or at any time becomes a party, or is threatened to be made a party, by reason of the fact that Officer is, was or at any time becomes an officer, employee or agent of Corporation, or is or was serving or at any time serves at the request of Corporation as an officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise; and
(b) otherwise to the fullest extent as indemnification may be provided to Officer by Corporation under the provisions of Article V of the Articles and Sections 204(a)(11) and 317 of the Code.
3. Limitations on Additional Indemnity .
(a) No indemnification pursuant to Section 2 hereof shall be paid by Corporation for any of the following:
(i) to the extent that Officer is or has been indemnified or reimbursed pursuant to Section 1 hereof or any Directors and Officers Liability Insurance (" D & O Insurance" ) purchased and maintained by Corporation;
(ii) with respect to remuneration paid to Officer if it shall be determined by a final judgment or other final adjudication that such remuneration was in violation of law;
(iii) on account of any suit pursuant to the provisions of Section 16(b) of the Securities Exchange Act of 1934, as amended, and amendments thereto or similar provisions of any federal, state or local statutory law in which judgment is rendered against Officer for an accounting of profits made from the purchase or sale by Officer of securities of Corporation;
(iv) if a final decision by a court having jurisdiction in the matter shall determine that such indemnification is not lawful; or
(v) on account of any action, suit or proceeding (other than a proceeding referred to in Section 8(b) hereof) commenced by the Officer against Corporation or against any director, officer or shareholder of Corporation unless authorized in the specific case by action of the Board of Directors;
(b) In addition to those limitations set forth above in paragraph (a) of this Section 3, no indemnification pursuant to Section 2 hereof in an action brought by or in the right of Corporation for breach of the Officer' s duties to Corporation and its shareholders shall be paid by Corporation for any of the following:
(i) on account of Officer' s acts or omissions that involve intentional misconduct or a knowing and culpable violation of law;
(ii ...
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