SCOTT’S LIQUID GOLD-INC.
This Agreement is made and entered into as of May 6, 1987 between Scott’s Liquid Gold-Inc., a Colorado corporation (the
“Corporation”), and Mark E. Goldstein, of Denver, Colorado (“Director”).
A. At the request of the Corporation, Director currently serves as e director of the Corporation (as defined below), as well
as an officer of the Corporation. As such, Director may be subjected to claims, suits or proceedings.
B. Director has indicated that it is a condition to Director’s continuing in such service that, among other things, the
Corporation agrees to indemnify Director against liabilities, expenses and costs incurred in connection with any such claims,
suits or proceedings, in accordance with, and to the fullest extent permitted by, the Colorado Corporation Code; and
C. The Company’s Articles of Incorporation and the Colorado Corporation Code contemplate that contracts may be made
between the Corporation and members of its Board of Directors and officers with respect to indemnification.
Now, therefore, in consideration of Director’s continued service as a director and officer after the date of this Agreement,
and in consideration of the mutual covenants stated herein, the parties agree as follows:
1. Definitions . As used in this Agreement, the following terms have the following meanings:
(a) Code . The term “Code” means the Colorado Corporation Code as it exists on the date of this Agreement and as it may
be hereafter amended from time to time, but in the case of any amendment, only to the extent that the amendment permits the
Corporation to provide broader indemnification rights than the Colorado Corporation Code permitted the Corporation to provide
at the date of this Agreement and prior to the amendment.
(b) Director . As used in reference to a position of Director, the term “director” means a director of the Corporation and,
while a director or officer of the Corporation, Director’s ser