Document:

Exhibit 10.2

EXHIBIT 10.2

SECOND AMENDMENT TO EMPLOYMENT AGREEMENT

THIS SECOND AMENDMENT TO EMPLOYMENT AGREEMENT (the “Second Amendment”) is made and entered into as
of the 7th day of April, 2008, by and between Continental Casualty Company, an Illinois insurance
company (the “Company”) and Michael Fusco (“Executive”), as an amendment to that certain employment
agreement between Executive and the Company dated as of April 1, 2004, as amended by that certain
amendment to employment agreement (the “First Amendment”) between the parties hereto dated February
7, 2007 (said employment agreement as amended by the First Amendment the “Employment Agreement”):

WITNESSETH:

WHEREAS, the parties wish to further amend the Employment Agreement in certain respects to reflect
certain changes in the terms and conditions of Executive’s employment as further provided
hereinbelow;

NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth below, it is
covenanted and agreed by the Executive and the Company as follows:

	 	1.	 	Section 1 of the Employment Agreement is hereby amended to read as follows:
	 
	 	 	 	“Employment Term. The Company and Executive agree that the Company shall employ Executive
to perform the duties of an Executive Vice President of the CNA insurance companies for the
period commencing on the Effective Date and ending at close of business on June 30, 2008
(the “Term”). The covenants set forth in Sections 7, 8, 10, 11, 12, 13, and 14 shall
survive the employment term of this Agreement.”
	 
	 	2.	 	Section 2 of the Employment Agreement is hereby amended to read as follows:
	 
	 	 	 	“Duties of Executive. (a) Through April 30, 2008, Executive shall continue to perform the
duties and responsibilities of an Executive Vice President and Chief Actuary Officer of the
CNA insurance companies as defined and directed by the Company’s Chief Executive Officer
(hereinafter “CEO”). From May 1, 2008 through June 30, 2008 Executive shall perform the
duties and responsibilities of an Executive Vice President of the CNA insurance companies
as defined and directed by the Company’s CEO. Executive shall report to the CEO. Executive
may be elected to and shall serve as a member of the Board of Directors of one or more of
the CNA insurance companies, and if so elected Executive agrees to serve on such boards in
such capacity without additional compensation and Executive further agrees to resign any
such position on such Boards upon the termination of his employment with the Company for
any reason; provided that nothing in this Agreement shall require that the shareholders of
any company elect Executive to its board of directors. After April 30, 2008, Executive
shall no longer be a named executive officer of the Company.
	 
	 	 	 	(b) Executive shall diligently and to the best of his abilities assume, perform, and
discharge the duties and responsibilities of Executive Vice President and, as provided for
in Subsection (a) of this Section 2, Chief Actuary Officer, as well as such other specific
duties and responsibilities as the CEO shall assign or designate to Executive from time to
time not inconsistent with Executive’s status. Executive shall devote substantially all of
his working time to the performance of his duties as set forth herein and shall not,
without the prior written consent of the CEO, accept other employment or render or perform
other services, nor shall he have any direct or indirect ownership interest in any other
business which is in competition with the business of the Company or the CNA insurance
companies, other than in the form of publicly traded securities constituting less than five
percent (5%) of the outstanding securities of a corporation (determined by vote or value)
or limited partnership interests constituting less than five percent (5%) of the value of
any such partnership. The foregoing shall not preclude Executive from engaging in
charitable, professional, and personal investment activities, provided that, in the
judgment of the CEO, such activities do not materially interfere with his performance of
his duties and responsibilities hereunder. In addition, the foregoing shall not preclude
Executive from spending a portion of his working time performing his duties from
Executive’s office in New York during the term of this Agreement.”

 

 

	 	3.	 	For purposes of the Employment Agreement, the expiration of Executive’s employment at
close of business on June 30, 2008 as provided for in Section 1 of the Employment
Agreement as amended hereby shall be treated as a termination by the Company without cause
as provided for in Section 6.3 of the Employment Agreement as of close of business on said
date of June 30, 2008 (the “Termination Date”). Accordingly, upon such Termination Date
Executive shall be entitled to all severance and other benefits as provided for in subset
(a) of said Section 6.3. The Company shall not terminate Executive’s employment pursuant
to Section 6.3 of the Employment Agreement prior to close of business on June 30, 2008.
The Company shall have no further obligations to Executive under this Agreement except as
provided for in said Section 6.3(a) and in this Second Amendment.
	 
	 	4.	 	Any term or provision of the Employment Agreement to the contrary notwithstanding:
(i) Executive shall not be subject to the terms and provisions of Section 9 of the
Employment Agreement after June 30, 2008; (ii) Executive’s employment of Denise DeAngelis
as his assistant after June 30, 2008 shall not constitute a breach of the terms and
provisions of Section 10 of the Employment Agreement; (iii) Executive shall have no
obligation to mitigate any loss or damages he might sustain as a result of the terms and
provisions of this Second Amendment in order to receive all severance and other benefits
provided for in subset (a) of Section 6.3 of the Employment Agreement, and there shall be
no reduction or abridgement of such severance and other benefits as a result of
Executive’s failure to so mitigate such loss or damages or of Executive’s receipt of
payment from any person other than the Company or its affiliates for services rendered to
such person by Executive after June 30, 2008; (iv) after June 30, 2008 Executive shall be
entitled to receive outplacement services at the Company’s expense, commensurate with such
services as are generally provided to senior executives pursuant to current Company
policy; (v) the Company shall pay reasonable attorneys’ fees incurred by Executive in
negotiating the terms of this Second Amendment; (vi) the Company shall provide preparation
service for the Executive’s federal and state personal income tax returns for the calendar
year 2008; and (vii) any unvested options granted to Executive under the Employment
Agreement that are scheduled to vest on or prior to June 30, 2009, shall vest as
scheduled, and any outstanding options for the Company’s common stock or for stock
appreciation rights paid in the Company’s common stock (“SARs”) granted pursuant to the
Employment Agreement which are vested as of June 30, 2008 and any outstanding options
which vest after June 30, 2008, but on or prior to June 30, 2009, may be exercised by
Executive on or before June 30, 2009.
	 
	 	5.	 	Except as otherwise expressly provided in this Second Amendment, all terms and
provisions of the Employment Agreement remain in full force and effect.

IN WITNESS WHEREOF, the parties have entered into this Second Amendment effective as of the date
set forth hereinabove.

	 	 	 	 	 	 	 	 
	CONTINENTAL CASUALTY COMPANY	 	 	 	MICHAEL FUSCO	 
	 
	By:

	 	/s/ Thomas Pontarelli
 

	 	 	 	 	 
	 
	 	 	 	 	 	 	 
	Title:

	 	Executive Vice President
	 	 	/s/ Michael FuscoEX-10.12 SECOND AMENDMENT TO PROPERTY AND LEASING

Exhibit 10.12

SECOND AMENDMENT TO THE

AMENDED AND RESTATED
PROPERTY MANAGEMENT AND LEASING AGREEMENT

BY AND AMONG

COLE CREDIT PROPERTY TRUST II, INC.,

COLE OPERATING PARTNERSHIP II, L.P.

COLE REALTY ADVISORS, INC.

     This SECOND AMENDMENT to the AMENDED AND RESTATED PROPERTY MANAGEMENT AND LEASING AGREEMENT
(this “Second Amendment”) is made this 1stday of June, 2008, and is effective
as of May 9, 2007, by and among COLE CREDIT PROPERTY TRUST II, INC., a Maryland corporation (the
“Company”), COLE OPERATING PARTNERSHIP II, LP., a Delaware limited partnership (“Cole
OP”) and COLE REALTY ADVISORS, INC. (f/k/a Fund Realty Advisors, Inc.), an Arizona corporation
(the “Manager”). This Second Amendment amends that certain Amended and Restated Property
Management and Leasing Agreement dated as of September 16, 2005, by and among the Company, Cole OP
and the Manager (the “Property Management Agreement”) and supersedes that certain First
Amendment to the Property Management Agreement dated May 9, 2007 (the “First Amendment”).
All capitalized terms not defined herein shall have the meanings given to each in the Property
Management Agreement.

     WHEREAS, the Independent Directors previously approved a revised property management fee
payable to the Manager for managing multi-tenant properties;

     WHEREAS, the Property Management Agreement was amended by the First Amendment in order to
revise the management fee payable to the Manager for managing multi-tenant properties as approved
by the Independent Directors;

     WHEREAS, the First Amendment contains a scrivener’s error which the parties hereto desire to
correct; and

     WHEREAS, Section 8.7 of the Property Management Agreement provides that the agreement may be
amended only by an instrument in writing signed by the party against whom enforcement of the
amendment is sought;

     NOW, THEREFORE, in consideration of the mutual promises, covenants and agreements herein
contained, and other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereby agree as follows:

     1. Section 5.1, “Management Fees,” is hereby deleted and replaced with the following:

     “5.1 Management Fees. Commencing on the date the Company’s registration statement,
Securities and Exchange Commission No. 333-138444, is declared effective, Owner shall
pay Manager property management and leasing fees in an amount equal to (i) up to two percent (2.0%)
of Gross Revenues of single-tenant properties and (ii) up to four percent (4.0%) of Gross Revenues
of multi-tenant properties, less all payments to third-party property management subcontractors
(the “Management Fees”) on a monthly basis from the rental income

 

 

received from the Properties over the term of this Management Agreement. Manager’s compensation
under this Section 5.1 shall apply to all renewals, extensions or expansions of Leases that
Manager has originally negotiated. In the event Manager assists with planning and coordinating the
construction of any tenant-paid finish-out or improvements, Manager shall be entitled to receive
from the Owner for any such tenant improvement an amount equal to not greater than five percent
(5.0%) of the cost of such tenant improvements.

     2. This
Second Amendment may be executed in any number of counterparts, each of
which shall be deemed to be an original as against any party whose signature appears thereon,
and all of such counterparts shall together constitute one and the same instrument. This
Second Amendment shall become binding when one or more counterparts hereof, individually or taken
together, shall bear the signatures of all of the parties reflected hereon as the signatories.
This Second Amendment may be executed and delivered by fax
(telecopier); any original signatures
that are initially delivered by fax shall be physically delivered with reasonable promptness
thereafter. Any term used herein not otherwise defined shall have the definition ascribed to
such term in the Property Management Agreement.

     3. Except
as specifically amended hereby and as previously amended, the Property
Management Agreement shall remain in full force and effect.

[SIGNATURES APPEAR ON THE FOLLOWING PAGES]

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     IN WITNESS WHEREOF, the undersigned have set their hands and seals as of the date first above
written.

	 	 	 	 	 
	 	COLE CREDIT PROPERTY TRUST II,
INC.

 	 
	 	By:  	/s/ D. Kirk McAllaster, Jr.
 	 
	 	 	D. Kirk McAllaster, Jr. 	 
	 	 	Executive Vice President and
Chief Financial
Officer 	 
	 

	 	 	 	 	 
	 	COLE OPERATING PARTNERSHIP II, LP

 	 
	 	By:  	Cole Credit Property Trust II,
Inc.
General Partner
 	 

	 	 	 	 	 
	 	 	 
	 	By:  	/s/  John M. Pons
 	 
	 	 	John M. Pons 	 
	 	 	Secretary 	 
	 

	 	 	 	 	 
	 	COLE REALTY ADVISORS, INC.

 	 
	 	By:  	/s/  John M. Pons
 	 
	 	 	John M. Pons 	 
	 	 	Executive Vice President and Secretary 	 
	 

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