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This excerpt taken from the SBH DEF 14A filed Mar 7, 2007. Executive
Officer Indemnification Agreement
On January 12, 2007, the Compensation Committee of the
Board approved and authorized the Corporation to enter into an
indemnification agreement with David L. Rea, our Senior Vice
President, Chief Financial Officer and Treasurer. The
indemnification agreement is intended to provide Mr. Rea
with the maximum protection available under applicable law in
connection with his services to the Corporation.
The indemnification agreement is substantially similar to the
Form of Director Indemnification Agreement between the
Corporation and each of its directors. The indemnification
agreement provides, among other things, that subject to the
procedures set forth therein, the Corporation will, to the
fullest extent permitted by applicable law, indemnify
Mr. Rea if, by reason of his corporate status as an
officer, he incurs any losses, liabilities, judgments, fines,
penalties or amounts paid in settlement in connection with any
threatened, pending or completed proceeding, whether of a civil,
criminal administrative or investigative nature. In addition,
the indemnification agreement provides for the advancement of
expenses incurred by Mr. Rea, subject to certain
exceptions, in connection with any proceeding covered by the
indemnification agreement. The indemnification agreement also
requires that the Corporation cover Mr. Rea under liability
insurance available to any of the Corporation’s directors,
officers or employees.
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