Document:

EX-10.2 LETTER RE: COMPENSATION ARRANGEMENTS

 

Exhibit 10.2

	 	 	 
	 

	 	EMS Technologies, Inc.
	 

	 	660 Engineering Drive
	 

	 	PO Box 7700
	 

	 	Norcross, GA 30091-7700
	 

	 	Tel: (770)263-9200
	 

	 	www.ems-t.com

March 19, 2007

Dr. Neilson A. Mackay

Dear Neil:

EMS Technologies, Inc. is pleased confirm the terms of the offer to you for the position President,
EMS Technologies Canada, President, EMS SATCOM, and Vice President, Corporate Development at a
salary of US$24,000 per month. In this position you will be reporting to Paul Domorski, President
and CEO. This new position will be effective today, March 19, 2007. Please note your starting
salary is based on our 2007 Compensation program. You will continue with Canadian Benefits and
perquisites until relocation to Atlanta.

Incentive Compensation: This position participates in our Executive Annual Incentive Compensation
Plan. Your position is scheduled for a 50% award of base pay upon achievement of individual,
divisional and company performance targets. Your performance weighting is 50% SATCOM profit, 25%
business objectives, and 25% corporate profit. In 2007 we will calculate incentive payouts based on
this allocation and the allocation for your SATCOM GM role and pay the higher amount. Awards are
granted in cash and/or stock in the first quarter of each year based on individual and Company
performance during the preceding calendar year. Your participation will be subject to the terms of
the Plan, which is available for your review.

The Company may modify the Plan at any time. Relevant participation levels and targets are
reviewed annually and revised by the Company, in its discretion. The incentive payments are based
on Company performance against specified targets, and the Company’s evaluation of your
contributions, performance and level of responsibility. Amounts paid are expected to vary from
year to year.

Retirement Benefit Program: As a US employee you will be eligible to participate in the EMS
Technologies Inc. Retirement Program. This comprehensive program includes the Company funded
Retirement Benefits Program (RBP) in addition to the 401k Savings and Investment Plan which is
described in your Employee Benefits Summary.

The RBP is 100% Company-funded, and is provided to U.S.-based employees at no cost to assist in
planning for retirement. Each year the Board of Directors determines an amount that the Company
will contribute to the RBP. Allocation of the RBP is based on base salary and age with larger
contributions based on higher base salary and/or higher age.

Under the terms of the Retirement Program, you will not receive service credit for your EMS service
in Canada for Retirement Plan purposes. You will be able to participate in the 401k plan 30 days
after your transfer. However, you will be subject to the standard 6 month, 1000 hour waiting period
for the RBP and only your U.S. based compensation will be eligible for consideration under the
Retirement plan. You will be 100% vested in all contributions made to this plan on your behalf.

 

 

Page Two

Dr. Neil Mackay

March 19, 2007

Benefit Programs: Enclosed is a summary of our benefit plans (medical, dental, life insurance,
etc.). You will also be eligible for a supplemental medical insurance plan which will pay up to
$10,000 per year of expenses not covered by the standard company plan. The eligible maximum for
2007 will be prorated based on your date of transfer. In particular, most non-reimbursed medical
expenses, as well as, items relating to dental and vision are covered by the supplemental plan.
This information will be covered in more detail during Orientation. The company will purchase a
supplemental Group Term Life insurance to off set the reduced coverage due to your age of 65. You
will be eligible for the normal company Long Term Disability coverage. However, there is a reduced
level of benefit due to your age. We have not been able to find Supplemental coverage for LTD.
We will continue to search for supplemental LTD coverage and if it is available, EMS will assume
responsibility for premiums through age 70 or you terminate employment, whichever comes first.
Also, if your current Canadian coverage can be continued in the U.S., we will continue to pay for
that coverage instead of securing new coverage.

Income Tax Assistance – The Company will retain Ernst & Young to prepare your income tax returns
and provide tax advice in both the U.S. and Canada related to your relocation. Contact information
for the appropriate tax representative will be provided by the Finance department. You will be
responsible for both Canadian and U.S. taxes, for the period you reside in each country.

Should you incur a foreign tax on your employment income as a result of working in a foreign
country (ie, a country other than the United States) for EMS, EMS agrees to reimburse you for your
foreign tax to the extent that you do not receive a full credit of this tax on your United States
tax return. This reimbursement will be grossed up for taxes. We will retain the services of Jeff
Hunter from Deloitte to make this calculation to ensure that you receive the proper reimbursement.

Termination Situations: We do not provide any employees with guaranteed periods of
employment. However, should your employment be terminated involuntarily without cause, EMS agrees
to provide a termination package based on the normal Canadian / Ontario precedent for someone of
your tenure and position.

EMS Technologies, Inc. agrees to pay for the following expenses associated with your relocation to
the Atlanta area:

Relocation Allowance: To assist you with inevitable miscellaneous expenses in connection with your
relocation, EMS will provide you a payment of $35,000. This will be considered as taxable income
and appropriate taxes will be withheld.

Household Goods: Covers cost of packing, crating, handling, and moving household effects, but does
not include the storage or shipment of automobiles or pets. Moving company costs should be
submitted by the mover directly to EMS. An employee expense report is not required. In the event
you have to terminate your automobile lease early, the company will cover the termination cost.

En Route Expenses: Travel is reimbursed for one private automobile, at the rate of $0.44 per mile
via the most direct route. You are responsible for maintaining automobile liability and property
damage insurance; EMS assumes no responsibility for losses or damage to the automobile or contents.
You will also be reimbursed for reasonable motel and food expenses en route.

 

 

Page Three

Dr. Neil Mackay

March 19, 2007

Interim Housing: The Company will make reservations for temporary lodging for the time you are
relocating. We will work out the particulars of the housing when the details of your relocation are
finalized.

Automobile lease Provisions: Should you need to terminate the lease on your automobiles as a
result of this relocation, EMS agrees to reimburse you for early termination fees. You will
continue to receive your auto allowance for the reminder of 2007.

Sale of your current home: We agree to reimburse you up to 7% of the sale price of your current
home for your realtor’s and associated fee. Since this reimbursement, is considered income by the
IRS, we will gross up any amounts paid to you as a result of this reimbursement agreement at a
28.5% rate.

Reimbursement for en route and interim housing expenses is made following submission of a completed
expense report. Supporting documentation to be attached to the expense report should include a
copy of airlines tickets, or mileage calculation, a copy of motel bills, and receipts for food or
other expenses.

Should you leave within the first year of your new assignment through voluntary resignation or for
cause, you are expected to reimburse the Company for the cost of the move. In the event of your
death or disability during this period, reimbursement is not expected.

Immigration: The Company will handle all the necessary documents and costs associated with
obtaining a green card for you.

This offer is also contingent upon your signing and returning the employee agreement dealing with
inventions and non-disclosure, also enclosed, and is subject in all respects to the Terms of
Employment which you previously signed. Any legal issues relating to your employment will be
governed by and determined in accordance with the laws of the State of Georgia.

Please indicate your acceptance of this conditional offer by signing, dating, and returning one of
the enclosed copies of this letter to Michael Robertson in the Human Resources Department. The
other copy is for your own records.

Neil, I look forward to working with you in this new role. If you have any questions, please feel
free to call me directly.

Sincerely,

EMS Technologies, Inc.

Michael R. Robertson

Director, Human Resources

Enclosures

Accepted By:                                                             Date:EX-10.1 NON-COMPETITION AGREEMENT

 

Exhibit 10.1

THOMAS H. LOWDER

NONCOMPETITION AGREEMENT

          THIS NONCOMPETITION AGREEMENT (this “Agreement”) is entered into as of May 4, 2007
by and among Colonial Realty Limited Partnership, a Delaware limited partnership (the
“Operating Partnership”), Colonial Properties Trust, an Alabama real estate investment trust and
the general partner of the Operating Partnership (the “Trust”; the Operating Partnership and the
Trust are sometimes hereinafter referred to collectively as the “Companies”), and Thomas H. Lowder
(“Mr. Lowder”).

          WHEREAS, Mr. Lowder entered into that certain Employment Agreement dated as of September 29,
1993, with the Trust, the Operating Partnership and certain other entities named therein (the
Trust, together with the Operating Partnership and its other direct and indirect subsidiaries, and
its or their successors, is referred to herein as the “Company”) pursuant to which, among other
things, the Companies agreed to employ Mr. Lowder, and Mr. Lowder agreed to be employed by the
Companies, in accordance with the terms thereof, including the title, duties and compensation set
forth therein (the “Employment Agreement”);

          WHEREAS, on April 26, 2006, in connection with certain management changes approved by the
Board of Trustees of the Trust, including certain changes in the title, duties and compensation of
Mr. Lowder, the Company and Mr. Lowder mutually agreed (i) to certain modifications to the
Employment Agreement to reflect the changes in title, duties and compensation approved by the Board
of Trustees of the Trust on April 26, 2006, and (ii) to terminate the Employment Agreement, as so
modified, effective upon the Trust and Mr. Lowder entering into a non-competition agreement; and

          WHEREAS, the Trust and Mr. Lowder agreed, at the time and in consideration of the changes in
the title, duties and compensation of Mr. Lowder described above, that Mr. Lowder would enter into
this agreement not to engage in competition with the Company and to refrain from taking certain
other actions pursuant to the terms and conditions hereof in an effort to protect the Company’s
legitimate business interests and goodwill and for other business purposes.

          NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration,
the receipt and sufficiency of which hereby are acknowledged, the parties hereto agree as follows:

     1. Term. Mr. Lowder agrees with the Company that during the period in which Mr.
Lowder serves as Chairman of the Board of the Trust (or otherwise as an employee of the Company),
and for two years thereafter (the “Restricted Period”), Mr. Lowder shall not engage in any way,
directly or indirectly, in the acquisition, operation, development, management, leasing or
disposition of any real property or any improvements thereon, other than in his capacity as a
director, trustee, officer or equity owner of the Company, except with the express written consent
of the Company, which consent shall be considered upon the request of Mr. Lowder if the Mr.
Lowder’s engagement in the proposed activity would present no adverse impact on the operations or
plans of the Company; provided, however, that this Section 1 shall not apply to:

	 	i.	 	Mr. Lowder’s activities with respect to any property listed in Appendix A attached
hereto to the extent that such activities are similar to or consistent with those currently
conducted by Mr. Lowder on behalf of such property, or are reasonably necessary to avoid a
breach by Mr. Lowder of his fiduciary duty to the owner or other owners of such property or
to restore, rebuild or maintain the value of such property.
	 
	 	ii.	 	Mr. Lowder’s residence or any other property intended for personal use.
	 
	 	iii.	 	Mr. Lowder’s activities with respect to any property owned, developed, constructed,
operated, managed or leased, now or in the future, by The Colonial Company, or any of its
subsidiaries, other than as provided in paragraph 2 of this Agreement. The parties
recognize that Mr. Lowder has been a substantial owner and director of The Colonial Company
and certain of its subsidiaries, since before the formation of the Companies, that Mr.
Lowder will continue to perform those roles in the future, and that The Colonial Company
and its subsidiaries may be or become involved in the ownership, development, construction,
operation, management or leasing of real properties in competition with the Companies.
This Agreement shall not prohibit any activities of The Colonial Company or any of its
subsidiaries. Nor shall this Agreement prohibit the activities of Mr. Lowder in his
capacity as an owner, director, officer or employee of The Colonial Company and its
subsidiaries, other than as provided in paragraph 2 of this Agreement.

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	 	iv.	 	The acquisition, operation, development, construction, management, leasing or
disposition of real property by any entity in which Mr. Lowder owns or acquires an equity
interest (including an interest as a general partner) as a passive investor having no
managerial or similar role with respect to such property.
	 
	 	v.	 	Mr. Lowder’s acquisition of any property or any interest in property by gift or
inheritance.
	 
	 	vi.	 	The direct or indirect ownership by Mr. Lowder of up to five percent of the outstanding
equity interests of any public company.
	 
	 	vii.	 	During the two-year “tail” period included in the Restricted Period (the “Tail
Period”), the restrictions set forth in this Section 1 shall apply only within those
Metropolitan Statistical Areas (“MSA’s”) within certain “States” (defined hereafter) which
are ranked in the top quartile of MSA’s nationally by population and in which the Company
also owns or leases at least ten (10) Properties as of the date of Mr. Lowder’s termination
of employment with the Company (the “Restricted Areas”) and then only to those real estate
market sectors in which the Company owns or leases within the MSA at least ten (10)
Properties as of the date of Mr. Lowder’s termination of employment with the Company. An
“MSA” shall be an area defined as a Metropolitan Statistical Area by the Office of
Management and Budget of the United States in its promulgations issued and published in the
Federal Register and in effect at the relevant point in time. A “Property” shall
mean any parcel or group of related parcels of real estate (whether or not contiguous) that
is recognized by the Company in its reports to its shareholders as being an individual and
functionally discrete property owned or managed by the Company. A “sector” shall mean a
category of commercial real estate identified by the Company in SEC reports as a category
in which the Company owns, operates, develops, leases or manages property, including but
not limited to the retail, multifamily, office, and industrial sectors. For purposes of
this Agreement, any Property that includes parcels within more than one sector shall be
deemed to be a Property within each such sector. The “States” shall include
Alabama, Arizona, Florida, Georgia, Maryland, Mississippi, Nevada, New Mexico, North
Carolina, South Carolina, Tennessee, Texas and Virginia, and any other state containing an
MSA in which the Company owned or leased at least 10 properties as of the date of Mr.
Lowder’s termination of employment with the Company.

     2. Nonsolicitation. During the Restricted Period, Mr. Lowder

	 	i.	 	shall not directly induce or attempt to induce any employee or independent contractor
of the Company to leave the employ of the Company or cease rendering services to the
Company, and
	 
	 	ii.	 	shall not directly solicit any tenant of any property in which the Company has at least
a fifty percent (50%) equity interest, directly or indirectly, to lease or purchase real
property located in the Restricted Areas from any person or entity other than the Company
nor directly engage any other person or entity to provide construction management, property
management or leasing services to such tenant in the Restricted Areas.
	 
	 	iii.	 	The prohibitions on Mr. Lowder’s “direct” inducement, solicitation or engagement in
this paragraph 2 shall not apply to any actions by or on behalf of The Colonial Company, or
any of its subsidiaries, unless Mr. Lowder personally participates in the particular
inducement, solicitation or engagement.

     3. Compensation. As consideration for Mr. Lowder’s compliance with the terms and
conditions contained in Sections 1 and 2 hereof during the Tail Period, the Company shall pay to
Mr. Lowder during the Tail Period an amount equal to two (2) times Mr. Lowder’s aggregate annual
salary (at the time Mr. Lowder ceases to serve as Chairman of the Board of the Trust (or otherwise
as an employee of the Company)), payable in substantially equal monthly installments over the
entire term of the Tail Period in accordance with the Company’s general policies and procedures for
payment of salaries to its executive personnel, subject to withholding for applicable federal,
state, and local taxes.

     4. Reasonable and Necessary Restrictions. Mr. Lowder acknowledges that the
restrictions, prohibitions and other provisions of this Agreement, including the Restricted Area
and Restricted Period, are reasonable, fair and equitable in scope, terms and duration, are
necessary to protect the legitimate business interests of the Company, and are a material
inducement to the Company to enter into this Agreement.

     5. Specific Performance. Mr. Lowder acknowledges that the Company likely will have no
adequate remedy at law if Mr. Lowder shall fail to perform any of his obligations hereunder, and
Mr. Lowder therefore confirms that the right of the Company to specific performance of the terms of
this Agreement is essential to protect the rights and interests of the Company. Accordingly, in
addition to any other remedies that the Company may have at law or in equity (which shall not
include any right to punitive damages), the Company shall have the right to have all obligations,
agreements and other provisions of this Agreement specifically performed by Mr. Lowder, and the
Company shall have the right to obtain

38

 

preliminary and permanent injunctive relief to secure specific performance and to prevent a breach
or contemplated breach of this Agreement by Mr. Lowder.

     6. Termination of the Employment Agreement. The Company and Mr. Lowder mutually agree
that the Employment Agreement, as modified, is hereby terminated effective as of the date first set
forth above, and that such Employment Agreement is no longer in force nor in effect.

     7. Miscellaneous Provisions.

          (a) Termination of this Agreement. Mr. Lowder shall be entitled to terminate this
Agreement unilaterally by notice to the Company, whereupon it shall be of no further force and
effect, on or after any date on which (i) there is a change in the composition of the Board of
Trustees of the Trust during any two year period such that “Continuing Trustees” cease to
constitute a majority of the Board of Trustees or (ii) any person (or group of associated persons
acting in concert), without the advance written consent of the Companies, acquires, directly or
indirectly, more than twenty percent (20%) of the voting shares of the Trust. For purposes of this
Section 7(a), “Continuing Trustees” means those members of the Board of Trustees of the Trust who
either were trustees at the beginning of such two year period, or were elected by, or upon the
nomination or recommendation of, a majority of the then existing Board of Trustees.

          (b) Assignment; Binding Effect. The Companies may assign this Agreement
to any successor or purchaser of the Companies. Mr. Lowder may not assign this Agreement or
any right or interest therein, whether by operation of law or otherwise, without the prior written
consent of the Companies. Subject to the foregoing provisions restricting assignment, all
covenants and agreements in this Agreement by or on behalf of any of the parties hereto shall bind
and inure to the benefit of the respective successors, assigns, heirs, and personal
representatives.

          (c) Entire Agreement. This Agreement constitutes the entire agreement between the
parties hereto with respect to the matters set forth herein and supersedes and renders of no force
and effect all prior oral or written agreements, commitments and understandings among the parties
with respect to the matters set forth herein. This Section 7(c) shall not be used to limit or
restrict the rights or remedies, whether express or implied, of any noncompetition or
nonsolicitation policies of the Company applicable to Mr. Lowder.

          (d) Amendment. Except as otherwise expressly provided in this Agreement, no
amendment, modification or discharge of this Agreement shall be valid or binding unless set forth
in writing and duly executed by each of the parties hereto.

          (e) Waivers. No waiver by a party hereto shall be effective unless made in a written
instrument duly executed by the party against whom such waiver is sought to be enforced, and only
to the extent set forth in such instrument. Neither the waiver by either of the parties hereto of
a breach or a default under any of the provisions of this Agreement, nor the failure of either of
the parties, on one or more occasions, to enforce any of the provisions of this Agreement or to
exercise any right or privilege hereunder shall thereafter be construed as a waiver of any
subsequent breach or default of a similar nature, or as a waiver of any such provisions, rights or
privileges hereunder.

          (f) Severability. If fulfillment of any provision of this Agreement, at the time such
fulfillment shall be due, shall transcend the limit of validity prescribed by law, then the
obligation to be fulfilled shall be reduced to the limit of such validity; and if any clause or
provision contained in this Agreement operates or would operate to invalidate this Agreement, in
whole or in part, then such clause or provision only shall be held ineffective, as though not
herein contained, and the remainder of this Agreement shall remain operative and in full force and
effect. Notwithstanding the foregoing, in the event that the restrictions against engaging in
competitive activity contained in this Agreement shall be determined by any court of competent
jurisdiction to be unenforceable by reason of their extending for too great a period of time or
over too great a geographical area or by reason of their being too extensive or unreasonable in any
other respect, the Agreement shall be interpreted to extend only over the maximum period of time
for which it may be enforceable and over the maximum geographical area as to which it may be
enforceable and to the maximum extent in all other respects as to which it may be enforceable, all
as determined by such court in such action and the court may limit the application of any other
provision or covenant, or modify any such term, provision or covenant and proceed to enforce this
Agreement as so limited or modified. To the extent necessary, the parties shall revise the
Agreement and enter into an appropriate amendment to the extent necessary to implement any of the
foregoing.

          (g) Governing Law; Jurisdiction. This Agreement, the rights and obligations of the
parties hereto, and any claims or disputes relating thereto, shall be governed by and construed in
accordance with the laws of the State of Alabama, but not including the choice-of-law rules
thereof.

39

 

          (h) Headings. Section and subsection headings contained in this Agreement are
inserted for convenience of reference only, shall not be deemed to be a part of this Agreement for
any purpose, and shall not in any way define or affect the meaning, construction or scope of any of
the provisions hereof.

          (i) Mr. Lowder’s Acknowledgement. Mr. Lowder acknowledges (i) that he has had the
opportunity to consult with independent counsel of his own choice concerning this Agreement, and
(ii) that he has read and understands this Agreement, is fully aware of its legal effect, and has
entered into it freely based on his own judgment.

          (j) Notices. All notices, requests, demands, and other communications hereunder shall
be in writing and shall be deemed to have been delivered (i) when physically received by personal
delivery (which shall include the confirmed receipt of a telecopied facsimile transmission), or
(ii) three business days after being deposited in the United States certified or registered mail,
return receipt requested, postage prepaid or (iii) one business day after being deposited with a
nationally known commercial courier service providing next day delivery service (such as Federal
Express), to the following addresses:

	 	(i)	 	if to Mr. Lowder, to the current
address set forth in the records of the Company, or, if different,
to the most recent address provided in writing, from time to time,
by Mr. Lowder;
	 
	 	 	 	With a copy (which shall not constitute notice) to:

Sirote & Permutt, P.C.

2311 Highland Avenue South, Ste 500

Birmingham, Alabama 35205

Attn: David M. Wooldridge

Telephone (205) 930-5219
	 
	 	(ii)	 	if to the Companies
	 
	 	 	 	c/o Colonial Properties Trust

2101 Sixth Avenue North

Suite 750

Birmingham, Alabama 35202

Attn: Chief Executive Officer

Telephone (205) 250-8700
	 
	 	 	 	With a copy (which shall not constitute notice) to:
	 
	 	 	 	Hogan & Hartson LLP

555 13th Street, NW

Washington, DC 20004

Attn: Alan Dye, Esq.

Telephone (202) 637-5737

          (k) Execution in Counterparts. To facilitate execution, this Agreement may be
executed in as many counterparts as may be required. It shall not be necessary that the signature
of or on behalf of each party appears on each counterpart, but it shall be sufficient that the
signature of or on behalf of each party appears on one or more of the counterparts. All
counterparts shall collectively constitute a single agreement.

[Signatures appear on next page]

40

 

	 	 	IN WITNESS WHEREOF, each of the undersigned has executed and delivered this Agreement, or
caused this Agreement to be duly executed on its behalf, as of the date first set forth above.

	 	 	 	 	 	 	 
	 	 	/s/ Thomas H. Lowder	 	 
	 	 	 	 	 
	 	 	Thomas H. Lowder	 	 
	 
	 	 	 	 	 	 
	 	 	THE COMPANIES:	 	 
	 
	 	 	 	 	 	 
	 	 	COLONIAL PROPERTIES TRUST	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ John P. Rigrish	 	 
	 

	 	Name:
	 	 

John P. Rigrish
	 	 
	 

	 	Title:
	 	Chief Administrative Officer	 	 
	 
	 	 	 	 	 	 
	 	 	COLONIAL REALTY LIMITED PARTNERSHIP	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	COLONIAL PROPERTIES TRUST,	 	 
	 

	 	 	 	its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ John P. Rigrish	 	 
	 

	 	Name:
	 	 

John P. Rigrish
	 	 
	 

	 	Title:
	 	Chief Administrative Officer	 	 

41

 

Appendix A

Properties to which paragraph 1(i) applies:

	 	•	 	Eastdale Mall
	 
	 	•	 	Holman Ranch, Monterey, California

42

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