HON INDUSTRIES INC.
This Indemnity Agreement, effective as of ___________, 20___ (this "Agreement"), between HON
INDUSTRIES Inc., an Iowa corporation ("Corporation"), and ______________ ("Indemnitee").
WHEREAS, Indemnitee is or will become a director or an officer of the Corporation and, as such, is or will be
performing valuable services for or on behalf of the Corporation; and
WHEREAS, Indemnitee is willing to perform or continue to perform such services, and may from time to time
perform additional services, for or on behalf of the Corporation on the condition that Indemnitee is indemnified as
provided in this Agreement; and
WHEREAS, it is intended that Indemnitee shall be paid promptly by the Corporation all amounts necessary to
fully effectuate the indemnity provided in this Agreement; and
WHEREAS, all capitalized terms used in this Agreement are used herein as defined in Section 15 hereof;
NOW THEREFORE, in order to induce Indemnitee to serve or continue to serve the Corporation as a director
or an officer and in consideration of the mutual promises set forth herein and other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the Corporation and the Indemnitee
hereby agree as follows:
1. SERVICES BY INDEMNITEE. Indemnitee agrees to serve as a director or an officer of the Corporation for
so long as Indemnitee is duly appointed or elected and qualified in accordance with the applicable provisions of
the Articles of Incorporation, as amended ("Articles of Incorporation"), and By-laws, as amended ("By-laws"), of
the Corporation or until such time as Indemnitee resigns or otherwise ceases to be a director or an officer.
Indemnitee may from time to time also perform other services at the request or for the convenience of the
Corporation. Following the termination of Indemnitee's service as a director or an officer of the Corporation by
reason of resignation or otherwise, the Corporation sha