Document:

Letter Agreement with Jeffrey A. Blade

 Exhibit 10.2 

 

 

 May 2, 2010 
 Jeffrey Blade

 [home address] 
 Dear Jeff: 

As a follow-up to our conversation, I am delighted to offer you the CAO/CFO position reporting to our CEO, Mike Ray. I am pleased to offer you this exempt position
at a bi-weekly salary of $12,116 which equates to $315,016 annually. 
 In addition to your base salary, you will be eligible for participation in the
Vera Bradley discretionary incentive plan which identifies payout opportunities for obtaining specific corporate and individual performance objectives as well as a long term incentive plan which will identify company equity potential. Your annual
target incentive opportunity is 50% of your YTD earnings. LTI plan design to be finalized within next 60 days. 
 To assist with your transition from
Indianapolis to Fort Wayne Bradley will provide you with the following relocation benefits: 
  

	 	•	 	 Directly pay costs associated with moving your household goods and personal effects from your current residence to your new permanent residence up to a maximum
of $12,000 

  

	 	•	 	 Reimbursement of costs associated with closing costs on existing home sale and purchase of new home, including realtor fees and other traditional closing costs
not to exceed $48,000. 

  

	 	•	 	 Reimbursement of interim living expenses up to $2,500 per month for a period not to exceed 3 months 

 

	 	•	 	 Reimbursement of expenses relating to two (2) pre-move house hunting trips for you and your family 

 

	 	•	 	 Lump sum not to exceed $60,000 to assist you with expenses relating to your current home sale (loss of equity, realtor’s fees, closing costs, etc.). This
lump sum amount will be taxable income to you. 

 Your relocation reimbursement amounts will be subject to prorated repayment to Vera
Bradley should you voluntarily separate from employment with the company within the next twelve (12) months. 
 You will be eligible for
participation in Vera Bradley’s benefit plans as outlined in the supplemental summary of benefits. You will also be eligible for 20 days of paid managed time off (MTO) per calendar year. 

In the event your employment is terminated by Vera Bradley (the “Company”) for any reason except for your death, your “disability” (as defined
below) or for “just cause” (as defined below), you will be entitled to a severance payment equal to the sum of your annual base salary (paid in a lump sum within 30 days following your termination by the Company subject to the Release
requirement below) plus a pro-rata portion (based on the number of days in the fiscal year during which you were employed) of the annual cash incentive to which you would have been entitled had you satisfied the requirements for being a participant
in the annual incentive plan during the year of your termination. Such annual cash incentive payment shall be paid in a lump sum at the same time such payments are made to similarly situated executives but in all evens within the two and one-half
month period following the year in which your termination occurs and will be calculated, for the Company performance portion, based on actual Company performance and, for the individual performance portion, based on individual performance at
“target” level. You shall not be entitled to the severance set forth in this paragraph unless you execute, return and do not revoke a general release of claims in a form and manner satisfactory to the Company (the “Release”)
within 30 days (or such longer period to the extent required by law) of your termination of employment provided that the Company shall provide you the Release within 35 days of your termination of employment. 

 Jeff Blade – Page 2 

For purposes of this letter, “disability” has the meaning set forth in the long-term disability policy or plan maintained by the Company for its senior
executives (or if none, in the long-term disability policy or plan maintained for its employees generally) then in effect. In the absence of such a policy or plan, “disability” has the meaning given to such term under Section 409A of
the Internal Revenue Code 1986, as amended (the “Code”) and the regulations and guidance promulgated thereunder. 
 For purposes of this letter,
“just cause” shall mean, as determined by Vera Bradley’s board of directors, (i) your conviction of a crime under U.S. federal, state or local laws or any applicable foreign laws (including any pleas of nolo contendere) involving
the property or affairs of Vera Bradley, (ii) your serious misconduct in connection with or affecting the business of Vera Bradley, (ii) your serious neglect or gross negligence in performing services to Vera Bradley, (iii) your
failure to perform the duties of your position after Vera Bradley’s delivery to you of written notice identifying the duties not being performed by you, (iv) your violation, or your aiding and abetting any violation by another, as
reasonably determined by Vera Bradley’s board of directors, of any law, order, rule or regulation pertaining to you or to Vera Bradley, or (v) your abuse of illegal drugs or other controlled substances. 

This letter is intended to comply with Code Section 409A, including the exceptions for short-term deferrals, separation pay arrangements, reimbursements, and
in-kind distributions, and shall be administered, construed and interpreted in accordance with such intent. Each payment under this letter or any Company benefit plan is intended to be treated as one of a series of separate payments for purposes of
Code Section 409A. To the extent any reimbursements or in-kind benefit payments under this letter are subject to Code Section 409A, such reimbursements and in-kind benefit payments will be made in accordance with Treasury Regulation
§1.409A-3(i)(1)(iv) (or any similar or successor provisions). 
 Notwithstanding anything in this letter to the contrary, to the extent you are
considered a “specified employee” (as defined in Code Section 409A) and would be entitled to a payment during the six-month period beginning on the date your employment with the Company is terminated that is not otherwise excluded
under Code Section 409A under the exception for short-term deferrals, separation pay arrangements, reimbursements, in-kind distributions, or any otherwise applicable exemption, the payment will not be made until the earlier of the six-month
anniversary of your date of termination or your death and will be accumulated and paid on the first day of the seventh month following the date of termination. 

The Company may amend this letter to the minimum extent necessary to satisfy the applicable provisions of Code Section 409A. The Company does not, however,
guarantee that the benefits (including the severance benefits) provided under this letter will satisfy all applicable provisions of Code Section 409A. 

As a reminder, this offer is contingent upon the successful completion of your background check, employment references and pre-employment drug screen. 

Jeff, we are very excited about your joining Vera Bradley! We feel your experience and qualifications will be an excellent addition to our executive leadership
team! Please contact me should you have any questions regarding this offer. 
 Sincerely, 

Julie North 
 Sr. Director, Human Resources 

This letter merely memorializes our offer to you and does not constitute a written employment contract for any specific term. Your employment with Vera
Bradley will be on an “at will” basis, which means that either party may end the employment relationship at any time without notice, for any reason. 
  

 

							
	 /s/ Jeffrey A. Blade
	  	    	  	May 2, 2010	  	
	Accepted by Jeffrey A. Blade	  		  	DateLease dated February 8, 1996 between Vera Bradley Designs, Inc. and Milburn, LLC

 Exhibit 10.12 

LEASE 
 This
lease is entered into this 8 day of February, 1996, by and between MILBURN, LLC (“Landlord”) and VERA BRADLEY DESIGNS, INC. (“Tenant”). 

WITNESSETH: 

ARTICLE I 

Premises 

Landlord hereby leases to Tenant and Tenant hereby leases from Landlord the real estate (including all improvements now or hereafter
located thereon) located at the northeast corner of Production Road and Investment Drive, Fort Wayne, Allen County, Indiana (“Premises”) as described on Exhibit “A” attached. 

ARTICLE II 
 Term

 The term of this lease shall commence on March 1, 1996 and shall extend for a period of fifteen (15) years unless
sooner terminated as herein provided. 
 ARTICLE III 

Rent 
 3.01
Rent. Tenant shall pay to Landlord base rent in the sum of $168,000.00 per annum payable in equal monthly installments of $14,000.00 in advance on the first day of each calendar month of the term at 2208 Production Road, Fort Wayne,
IN 46808, or such other place as Landlord may from time to time designate in writing. 
 3.02 Rent Adjustment. Although
this is a triple net lease, the parties agree that the fixed monthly rent to be received by the Landlord shall be protected against inflationary conditions and changes in the cost of mortgage financing. Accordingly, on the first day of February
every third year (2/1/99, 2/1/02, 2/1/05, etc.), or sooner if required by a change in mortgage financing rates, the parties shall adjust the rent consistent with changes in business conditions . The adjusted rent shall not be less than the Rent
provided in Section 3.1. The rent as adjusted shall be paid in equal monthly installments on the first day of each month. 

ARTICLE IV 

Taxes, Assessments and Utilities 

4.01 Taxes and Assessments. Tenant shall pay all taxes and assessments upon the Premises which are (1) due and payable during
the lease term, and (2) the first installment of taxes due after the expiration of the lease term. 

 4.02 Utilities. Landlord shall not be required to furnish to Tenant any utility or
communication services. Tenant shall pay all charges for communication and utility services supplied to the Premises during the term of this lease. 

ARTICLE V 

Repairs and Maintenance 

5.01 Repairs. Throughout the term hereof, Tenant, at is expense, shall make all necessary repairs to the Premises, regardless of
whether interior or exterior, structural or nonstructural, ordinary or extraordinary, or foreseen or unforeseen. As used in this Article, “repairs” include all necessary replacements, renewals, alterations, additions, and betterments. All
repairs made by the Tenant shall be at lease equal in quality and class to the original work. 
 5.02 Maintenance. Tenant
shall maintain all portions of the Premises in a clean and orderly condition, free of dirt, rubbish, snow, ice, and unlawful obstructions. 

5.03 Sole Responsibility. Tenant shall assume sole responsibility for the condition, repair, maintenance, alteration and
restoration of the Premises. 
 VI 

Alterations 

Tenant shall not make any additions, alterations or improvements in or to the Premises without the Landlord’s written consent, which
consent shall not be unreasonably withheld. All additions, alterations and improvements made in or to the Premises shall become the property of Landlord at the termination of this lease. Tenant may remove or replace its movable trade fixtures, it if
repairs any damage caused by such removal. 
 VII 

Risk of Loss and Restoration 

7.01 If the Premises are damaged or destroyed by fire or other casualty, Tenant, at its expense, shall promptly restore the Premises are
nearly as possible to its prior condition. All insurance proceeds received by Landlord under the provisions of this lease, less any cost of such recovery, shall be held in trust and applied by Landlord to the payment of such restoration as it
progresses. 
  

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 7.02 If the proceeds of insurance are insufficient to pay the full cost of repair or
restoration, Tenant shall pay the deficiency. If the insurance proceeds exceed such cost, the excess shall be paid to Tenant. 

7.03 The fact that all or part of the Premises is destroyed or damaged shall not affect the provisions of this lease, notwithstanding any
contrary law, rule, or regulation, and Tenant’s obligations under this lease shall continue without abatement. 
 ARTICLE
VIII 
 Insurance 

8.01. Tenant to Provide Insurance. During the term of this lease Tenant shall maintain, at its expense, the insurance
described in Section 8.02, 8.03 and 8.04 in companies approved by Landlord. Both Landlord and Tenant shall be named insureds under each policy. Each insurance policy shall require the insurer to give the insured at
least ten days’ notice of cancellation, non-renewal or reduction in coverage. 
 8.02 Fire and Extended Coverage
Insurance. Tenant shall obtain full replacement cost fire and extended coverage insurance on the Premises and the property of Tenant plus loss of rent / income or loss of use coverage at least sufficient to pay the monthly rent. 

8.03 Liability Insurance. Tenant shall obtain liability insurance with benefits of at least $1,000,000.00 single limits for all
injuries and deaths arising per occurrence, and $500,000.00 for property damage per occurrence. Tenant shall obtain an umbrella liability policy with limits of at least $1,000,000.00. 

8.04 Insurance Required by Mortgage. Tenant shall maintain such other insurance that may be required by the holder of a mortgage
on the Premises. 
 8.05 Waiver of Subrogation. Any insurance policy obtained under this Article VIII shall contain a
clause whereby the insurer waives its rights of subrogation against Landlord, Tenant and their respective partners, members and shareholders. 

ARTICLE IX 

Condemnation 

If the entire or a substantial part of the Premises is taken by eminent domain proceedings or sold under threat of such proceedings the
net award received therefore shall be distributed as follows: 
 (1) First, the holder of any mortgage on the Premises to which
this lease is subordinated shall be paid an amount necessary to discharge the mortgage. 
 (2) Second, any sum remaining after
payment of the mortgage in paragraph (1) shall be paid to Landlord. 
  

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 If the condemnation award is not sufficient to discharge the mortgage the Tenant shall pay
the mortgageholder an amount sufficient to discharge the mortgage. Thereupon, this lease shall terminate. 
 ARTICLE X

 Environmental Law 

The parties acknowledge that certain federal, state, and local laws, regulations and guidelines are now in effect, and that additional
laws, regulations and guidelines may hereafter be enacted, relating to or affecting the Premises and the business conducted by Tenant. Tenant will not cause, or permit to be caused, any act or practice, by negligence, omission, or otherwise, that
would adversely affect the environment or do anything or permit anything to be done that would violate any of said laws, regulations, or guidelines. Any violation of this covenant shall be an event of default under this lease. Tenant shall make all
repairs, changes, alterations and additions to the Premises required to be in compliance with any environmental laws, orders or regulations. 

ARTICLE XI 
 Use
and Occupancy 
 11.01. Use and Occupancy. Tenant shall use and occupy the Premises for office, sales and warehouse
purposes and for no other purposes except with the prior written consent of Landlord. Tenant shall use the Premises for no unlawful purpose or act; shall commit or permit no waste or damage to the Premises, normal wear and tear excepted; shall
comply with and obey all laws, regulations, or orders of any governmental authority or agency, directions of the Landlord, all of which are and will be a part of this Lease. 

11.02. Condition of Premises. Tenant agrees to accept the Premises in their present condition. 

ARTICLE XII 

Liens 
 Tenant
shall keep the Premises demised hereunder free from any liens, including, but not limited to, mechanic’s liens. In the event any lien attached to the Premises by virtue of an act or failure to act on the part of Tenant, Landlord shall have the
right, but not obligation, to pay the amount of such lien to cause its release, and such amount shall be considered additional rent to be paid to it by Tenant on demand with interest at twelve percent (12%) per year from the date Landlord paid
the lien. 
  

 4 

 ARTICLE XIII 

Assignment and Subletting 

Tenant shall not assign this Lease nor sublet the Premises in whole or in part without the Landlord’s written consent
which shall not be unreasonably withheld. No such assignment or subletting shall operate so as to relieve Tenant of its duties, liabilities and obligations under the terms of this Lease. Consent of Landlord to subletting of the Premises shall not
constitute a waiver of Landlord’s rights hereunder. 
 ARTICLE XIV 

Holding Over 

If Tenant shall retain possession of the Premises with the written consent of Landlord after the expiration of this Lease and rent is
accepted from Tenant, such occupancy and payment shall be construed as an extension of this Lease for a period from month to month only from the date of such expiration. In such event, if either Landlord or Tenant desires to terminate the Lease at
the end of any month, the party desiring to terminate the same shall give the other party at least thirty (30) days written notice to that effect. Failure on the part of the Tenant to give such notice shall obligate it to pay rent for an
additional calendar month, following the month in which Tenant vacates the Premises. 
 ARTICLE XV 

Rights Reserved to Landlord 

Landlord reserves and shall at all times have the right to reenter the Premises in any emergency, to inspect the same, to show the
Premises to prospective buyers, and to alter, improve, remodel or repair the Premises if required by the reason of an emergency without abatement of rent and without incurring any liability to Tenant therefor. Tenant hereby waives as against
Landlord any claim for damages for any injury of inconvenience to or interference with Tenant’s business, any loss of occupancy or quiet enjoyment of the Premises, and any other loss occasioned thereby. 

ARTICLE XVI 

Insolvency or Bankruptcy 

The appointment of a receiver to take possession of all or substantially all of the assets of Tenant, or an assignment by Tenant for the
benefit of creditors or any action taken or suffered by Tenant under any insolvency, bankruptcy, or reorganization act, shall constitute a breach of this Lease by Tenant. In no event shall this Lease be assigned or assignable by operation of law or
by voluntary 
  

 5 

 
or involuntary bankruptcy proceedings or otherwise and in no event shall this Lease or any right or privileges hereunder be an asset of Tenant under any bankruptcy, insolvency, or reorganization
proceedings. 
 ARTICLE XVII 

Default 
 In the
event of any breach of this Lease by Tenant after ten days’ written notice (except there shall be no requirement for notice for failure to pay rent), Landlord, besides any other rights or remedies it may have by law or otherwise, shall have the
immediate right of re-entry and may remove all persons and property from the Premises. Such property may be removed, and stored at the cost of and for the account of Tenant. Should Landlord elect to re-enter as herein provided, or should Landlord
take possession pursuant to legal proceedings or pursuant to any notice provided for by law, Landlord may either terminate this Lease or may, from time to time, without terminating this Lease, relet said Premises or any part thereof for such term or
terms (which may be for a term extending beyond the term of this Lease) and at such rental or rentals and upon such other terms and conditions as Landlord in the exercise of Landlord’s sole discretion may deem advisable with the right to make
alterations and repairs to said Premises. Upon each such reletting (a) Tenant shall be immediately liable to pay to Landlord, in addition to any indebtedness other than rent due hereunder, the cost and expense of such reletting and of such
alterations and repairs incurred by Landlord, and the amount, if any, by which the rent reserved in this Lease for the period of such reletting (up to but not beyond the term of this Lease) exceeds the amount agreed to be paid as rent for the
Premises for such period of reletting; or (b) at the option of the Landlord, rents received by Landlord from such reletting shall be applied first to the payment of any indebtedness, other than rent due hereunder from Tenant to Landlord;
second, to the payment of any costs and expenses of such reletting and of such alterations and repairs; third, to the payment of rent due and unpaid hereunder; and the residue, if any, shall be held by Landlord and applied in payment of future rent
as the same may become due and payable hereunder. 
 If Tenant should breach this lease, in addition to any other remedy
Landlord may have, Landlord may recover from Tenant all damages Landlord may incur by reason of such breach, including the cost of recovering the Premises and including the rent reserved and charged in this Lease for the remainder of the stated
term, all of which amount shall be immediately due and payable along with attorney’s fees from Tenant to Landlord, and Landlord shall have no obligation to relet. 

Tenant shall have a ten (10) day grace period in the payment of monthly rent without penalty. 

 

 6 

 In the event of default the defaulting party shall pay the reasonable expenses and fees,
including attorney fees resulting from the default and the enforcement of rights under this lease. 
 ARTICLE XVIII 

Surrender of Premises 

At the end of the term or any renewal thereof or other sooner termination of this Lease, the Tenant will peaceably deliver up to the
Landlord possession of the Premises together with all improvements or additions upon or belonging to the same, by whomsoever made, in the same condition as received or first installed, ordinary wear and tear and damage by fire, earthquake, Act of
God or the elements alone excepted. Upon the termination of this Lease, Tenant shall at Tenant’s sole cost remove all counter, trade fixtures, office furniture and equipment installed by Tenant, unless otherwise agreed to in writing by
Landlord. Property not so removed shall be deemed abandoned at the termination this Lease by the Tenant and title to the same shall thereupon pass to Landlord. Tenant shall indemnify the Landlord against any loss or liability resulting from delay by
Tenant in so surrendering the Premises including, without limitation, any loss of rental as a result thereof. 
 ARTICLE XIX

 Subordination to Mortgage 

The rights and interests of Tenant under this Lease shall be subject and subordinate to any mortgages that may now or hereafter be placed
upon the Premises and to any and all advances to be made thereunder, and to the interest thereon, and all renewals, replacements and extensions thereof, if the mortgagee named in said mortgage shall elect to subject and subordinate the rights and
interests of Tenant under this Lease to the lien of its mortgage, regardless of whether this Lease is dated prior to or subsequent to the date of said mortgage provided said mortgage shall recognize the rights of Tenant under this Lease in the event
of foreclosure if Tenant is not then in default. 
 ARTICLE XX 

Waiver 
 The
waiver of Landlord of any term, covenant, or condition herein contained shall not be deemed to be a waiver of any other term, covenant, or condition or any subsequent breach of the same or any other term, covenant, or condition herein contained. The
subsequent acceptance of rent herein by Landlord shall not be deemed to be a waiver of any preceding breach by Tenant of any term, covenant, or condition of this Lease, other than the failure of Tenant to pay the particular rental so accepted,
regardless of Landlord’s knowledge of such preceding breach at the time of acceptance of such rent. 
  

 7 

 ARTICLE XXI 

Notices 
 All
notices and demands which mayor are required to be given by either party to the other hereunder shall be in writing and shall either be personally delivered to an officer or partner of a party or sent by United States certified or registered mail,
postage prepaid to the parties at the following addresses, or such other address designated by a party: 
  

			
	Landlord:	  	 2208 Production Road
 Fort
Wayne, IN 46808

		
	Tenant:    	  	 2208 Production Road
 Fort
Wayne, IN 46808

 A copy of any notice shall be mailed or faxed to P. Michael Miller, 803 South Calhoun Street, 3rd Floor,
Fort Wayne, Indiana 46802. 
 ARTICLE XXII 

Abandonment 
 If
Tenant shall abandon or vacate the Premises before the end of the term or any other event shall happen entitling Landlord to take possession thereof, Landlord may take possession of said Premises, relet the same without such action being deemed an
acceptance of a surrender of this Lease or in any way terminating the Tenant’s liability hereunder and Tenant shall remain liable to pay the rent herein reserved less the net amount actually realized from such reletting after deduction of any
expenses incident to such repossession and reletting. 
 ARTICLE XXIII 

Performance Temporarily Excused 

Anything in this Lease to the contrary notwithstanding, other than the payment of money and the willful act or neglect of the party with
the duty to perform, delays caused by or resulting from an Act of God, war, civil disturbance, fire or other casualty, labor difficulties, shortages of labor, materials, or equipment, or other causes beyond such party’s reasonable control shall
be excused for a reasonable period of time. 
  

 8 

 ARTICLE XXIV 

Miscellaneous Provisions 

24.01. Governing Law. This Lease shall be governed by the laws of the State of Indiana. 

24.02. Writing Controls. It is agreed that Landlord has not made any statement, promise, or agreement or taken upon itself any
engagement whatever verbally or in writing in conflict with the terms of this Lease or that in any way modifies, varies, alters, enlarges, or invalidates any of its provisions and that no obligations of Landlord shall be implied in addition to the
obligations herein stated. 
 24.03. Quiet Possession. Landlord covenants that Tenant, upon paying the rent herein
provided and performing all the covenants of this Lease by it to be performed, shall have quiet possession of the Premises during the term hereof. 

24.04. Memorandum of Lease. At the request of either party, the parties agree to execute and record a memorandum of this Lease.

 IN WITNESS WHEREOF, the parties have executed this Lease this 8 day of February, 1996. 

 

							
		  	MILBURN, LLC	  		  	VERA BRADLEY DESIGNS, INC.
				
	 By:
	  	
 

	  	By:	  	
 

		  	 Patricia R. Miller
	  		  	Patricia R. Miller
		  	 An Operating Manager
	  		  	A President
				
		  	“Landlord”	  		  	“Tenant”

  

 9 

 EXHIBIT “A” 

A part of the Southwest Quarter of Section 22, Township 31 North, Range 12 East, Allen County, Indiana, described as follows: 

Commencing at the Northeast corner of said Southwest Quarter; thence South 1232.3 feet; thence West 1899.4 feet to the Northeastern Boundary of
Production Road and the true point of beginning; thence Northwesterly 263.61 feet along an arc to the left and having a radius of 507.5 feet and subtended by a long chord having a bearing of North 75 degrees 59 minutes West a distance of 260.66
feet; thence South 89 degrees 08 minutes West a distance of 6.4 feet; thence North 0 degrees 52 minutes West a distance of 348.0 feet to the Southern boundary of a railroad spur right-of way; thence South 82 degrees 06 minutes East a distance
of 16.1 feet along said boundary; thence along said boundary Southeasterly a distance of 284.31 feet along an arc to the right and having a radius of 362.0 feet and subtended by a long chord having a bearing of South 59 degrees 36 minutes East and a
distance of 277.06 feet; thence South 37 degrees 06 minutes East a distance of 109.3 feet along said boundary; thence along said boundary Southeasterly a distance of 47.93 feet along an arc to the left and having a radius of 402.0 feet and subtended
by a long chord having a bearing of South 39 degrees 16 minutes East and a distance of 47.90 feet; thence South 30 degrees 58 minutes West a distance of 168.3 feet to the true point of beginning, containing 2.146 acres of land.

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