8-KMaterial AgreementsExhibits & Filings

QUANTA SERVICES, INC. 8-K Report, Material Agreement (Jan 31, 2012)

Filed January 31, 2012For Securities:PWR

Summary

Quanta Services, Inc. (PWR) filed a Form 8-K on January 30, 2012, reporting on a material definitive agreement. Specifically, on January 26, 2012, the company entered into Amended and Restated Indemnity Agreements with each of its directors and executive officers. These new agreements supersede all prior indemnity agreements and are designed to provide comprehensive protection to these individuals. The core of these agreements is Quanta's commitment to indemnify and hold harmless its directors and officers against a wide range of expenses, judgments, fines, penalties, and settlement amounts that may be incurred as a result of their service to the company. This includes proceedings brought by third parties, as well as those brought by or in the right of Quanta itself. Furthermore, the agreements stipulate the advancement of expenses and waive any right of contribution the company might have against these indemnified individuals, ensuring robust support for its leadership.

Key Highlights

  • 1Quanta Services entered into new Amended and Restated Indemnity Agreements with directors and executive officers on January 26, 2012.
  • 2These agreements replace all previous indemnity agreements.
  • 3The new agreements offer broad indemnification for expenses, judgments, fines, penalties, and settlement amounts.
  • 4Indemnification covers civil, criminal, administrative, and investigative proceedings.
  • 5The company will advance expenses incurred by directors and officers in covered proceedings.
  • 6Quanta waives any right of contribution it may have against indemnified individuals.
  • 7The Indemnity Agreements provide rights in addition to those available under law, company charter, or bylaws.

Frequently Asked Questions

The primary purpose is to provide comprehensive indemnification and advancement of expenses to Quanta Services' directors and executive officers for liabilities and costs they may incur due to their service with the company, ensuring they are protected against various legal and investigative proceedings.

Yes, these are 'Amended and Restated' agreements, meaning they supersede and replace all prior indemnity agreements. They are designed to offer potentially broader or more clearly defined protections to directors and officers.

The agreements cover a wide range of costs, including expenses, judgments, fines, penalties, and amounts paid in settlement, incurred in connection with any civil, criminal, administrative, or investigative proceeding.

No, the agreements state that Quanta waives and relinquishes any right of contribution it may have against the indemnified director or officer. This means the company generally cannot seek to recover these costs from its leadership.