INDEMNIFICATION AGREEMENTIndemnification Agreement • May 15th, 2007 • Usa Technologies Inc • Calculating & accounting machines (no electronic computers) • Pennsylvania
THIS INDEMNIFICATION AGREEMENT is made as of this __ day of May, 2007, by and between USA TECHNOLOGIES, INC., a Pennsylvania corporation (the “Company”), and _____________________________ (“Indemnitee”). WHEREAS, highly competent persons have become more reluctant to serve corporations as directors or officers unless they are provided with adequate protection through insurance or adequate indemnification against risks of claims and actions against them arising out of their service to and activities on behalf of the corporation; and WHEREAS, the Board of Directors of the Company has determined that the difficulty in attracting and retaining such persons is detrimental to the best interests of the Company’s shareholders and that the Company should act to assure such persons that there will be increased certainty of such protection in the future; and WHEREAS, the Company desires to attract and retain the services of highly qualified individuals, such as
