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Exhibit 10.2    
  

August 13,
2002 

Tanning
Technology Corporation

4600 S. Syracuse Street

Suite 1200

Denver, CO 80237

Attention: Gregory A. Conley 

Re:
Sale of Tanning Shares; Loan Repayment

I,
Larry G. Tanning, on behalf of myself and Tanning Family Partnership, L.L.L.P. (the "Seller"), hereby agree to sell to Tanning Technology Corporation ("Tanning"), that number of shares of Tanning
common stock, par value $.01 (the "Shares") determined by dividing the Repayment Amount (as hereinafter defined) by the closing market price of the Shares (the "Share Price") on August 23, 2002
(the "Determination Date") for a per Share purchase price equal to the Share Price. The "Repayment Amount" shall equal all amounts outstanding, together with accrued interest, as of the Determination
Date, under my Promissory Note (the "Note") to the Company dated August 2, 1999, as amended August 2, 2001. I further agree to apply all proceeds from the sale of Shares to fully
repay all amounts outstanding, together with accrued interest under the Note. The sale of Shares and repayment referred to herein (the "Transaction") shall be consummated as promptly as practicable
following the Determination Date. 

In
contemplation of the foregoing, I represent, on behalf of myself and the Seller, as follows: 

	1.
	Seller
is duly organized, validly existing and in good standing under the laws of the jurisdiction in which it is organized and has full corporate power and authority to consummate the
Transaction.

	2.
	The
consummation of the Transaction will not violate any law or regulation applicable to me or to Seller.

	3.
	I
have full power and authority to consummate the Transaction on behalf of the Seller, and Seller has taken all necessary action, corporate or otherwise, to authorize and consummate
the Transaction.

	4.
	Seller
has good and valid title to the Shares, free and clear of any liens or encumbrances of any kind.

	5.
	Upon
payment for and delivery of the Shares, Tanning will have good and valid title to the Shares, free and clear of any liens or encumbrances of any kind. 

 

I
understand that Tanning will rely on the above representations in consummating the Transaction. 

	

 	
 	

Very truly yours,
	

 	
 	

 Larry G. Tanning,

individually and on behalf of

Tanning Family Partnership,

L.L.L.P. as its

	

Agreed and Accepted:	
 	

 	
 	

 
	

Tanning Technology Corporation
 By: Gregory A. Conley

Its: President and Chief Operating Officer	

 	

 	

 	

 

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Exhibit 10.3    
  

September 3,
2002 

Fred
Fogel

140 Riverside Drive

Apt. 14G

New York, NY 10024 

Dear
Fred, 

This
letter will confirm your separation from employment with Tanning, the terms of the separation, and our agreements relating to the separation. The effective date of your separation is
September 4, 2002. 

	I.
	Separation Terms

The
following terms apply to your separation. No other compensation or benefits will be provided to you, except as described in this letter. 

	A.
	Tanning
will pay you at your regular semi-monthly salary rate of $7,916.67 through September 4, 2002, less applicable deductions and withholding.

	B.
	Tanning
will continue to provide group medical, dental and vision insurance benefits to you and your covered dependents, if any, through September 30, 2002. In order to exercise
your right to continue
COBRA benefit coverage after September 30, 2002, you must submit back to us the completed election forms enclosed with this letter within 60 days. If you elect continued coverage, for a
period of twelve (12) months after September 30, 2002 (the "Coverage Period"), we will pay the monthly premiums due under our standard COBRA policies for your individual coverage.
Tanning will not be obligated under this paragraph to pay for COBRA coverage during any period in which you are eligible to participate in a subsequent employer's plan. If, during the Coverage Period,
you cease for any reason to be eligible for such participation under another employer's plan and become eligible for COBRA coverage under that plan, Tanning will reimburse you for your COBRA payments
under that plan for the remainder of the Coverage Period, not to exceed the amount of your COBRA premiums under Tanning's plan.

	C.
	On
September 4, 2002, Tanning will pay you $10,845.12 for your hours of unused, accrued vacation, less applicable deductions and withholding.

	D.
	Your
participation, if any, in the Employee Stock Purchase Plan (ESPP) will end on September 4, 2002. You will be refunded any payroll deductions made from July 1, 2002
through September 4, 2002 in your final paycheck on September 4, 2002.

	E.
	Tanning
provided benefit coverage other than the group medical, dental and vision coverage outlined above, will end on September 4, 2002. This includes Tanning provided life
insurance, disability coverage (long-term disability and short-term disability) and 401(k) plan participation. In lieu of actual continuation of life insurance and
disability coverages, Tanning will pay you a lump sum payment of $1,030.00 on September 4, 2002.

	F.
	If
you have participated in the Denver Reserve Flex FY 2002 plan (health care and/or dependent care reimbursement accounts), you have until March 31, 2003 to submit for
reimbursement any qualified health care or dependent care expenses that have been incurred by you from January 1, 2002 through September 4, 2002.

	G.
	In
accordance with your relevant stock option agreements, all of your unvested stock options will accelerate to full vesting effective September 4, 2002, other than the options
(the "Unvested Options") remaining unvested under the grant of 32,739 options made on July 22, 1999. The Unvested Options will continue to vest in accordance with the vesting schedule set forth
in the applicable option agreement while you remain a Director of Tanning. Your vested options will 

  
remain exercisable during your service as a Director. After your service as Director is completed, you will have three years in which to exercise any vested options, such exercise to be
effected in accordance with the terms of your stock option agreements and the relevant stock option plans. 

	H.
	If
you have outstanding business expenses that you have not yet submitted for reimbursement, you may submit your expenses by sending copies of your receipts and a signed itemized list
of expenses to Mary Cockshoot in Accounts Payable. You will be reimbursed in accordance with Tanning's standard expense policy.

	I.
	You
will be paid applicable severance as part of your written employment agreement with Tanning of twelve months of base salary continuation, less applicable deductions and
withholding.

	J.
	As
soon as possible, but no later than September 7, 2002, you must make arrangements to return your company issued credit card, access cards, any Tanning files, and any and all
other Tanning property in your possession, except as necessary or appropriate in connection with your ongoing relationship with Tanning. You will be allowed to retain your computer equipment and
continue email access (and use of your Tanning email address) while you are a Director of Tanning. A box and shipping instructions will be mailed to you for use to ship, at Tanning's expense, your
equipment, etc. to Tanning's Denver office.

	K.
	To
the extent you currently have an outstanding balance on your corporate American Express Card, please make arrangements with American Express to pay off this balance.

	L.
	It
is expressly understood and agreed that you are entitled to continued indemnification rights pursuant to Tanning's certificate of incorporation and by-laws, and its
directors' and officers' insurance policies (in each case subject to the limitations contained therein) both in connection with your employment as an officer of Tanning and your ongoing service as a
Director of Tanning.

	II.
	Severance

In
exchange for the severance benefits identified below, which are in addition to those benefits to which you are otherwise entitled, you agree to execute, no later than 45 days after you
receive this letter, this letter agreement and the Release attached as Exhibit A. Moreover, the Release must be executed after September 4, 2002. 

Upon
the eighth day after execution of the Release and letter agreement (and assuming that you do not revoke execution of the Release or letter agreement pursuant to its terms), the return of all
Tanning equipment and property required to be returned pursuant hereto, and proof that you have
paid off in full any outstanding corporate American Express Card balance, you will qualify for the following: 

A
lump sum payment of $190,000, to replace the contractual severance payment obligation under section I(I), less applicable deductions and withholding. 

In
addition, you agree not to disclose the existence or contents of this letter agreement, or the events which led to your separation, other than to your attorney, your immediate family or as required
by law, and in the case of the financial terms of your separation, to your accountant and/or tax advisor as necessary to secure the benefits to which this letter agreement entitles you. In addition,
you will refrain from making statements, publicly or otherwise, orally or in writing, which are disparaging or adverse to the interests of Tanning. Tanning hereby agrees to comparable
non-disparagement and (except as required by law) confidentiality restrictions with respect to you and the contents of this letter agreement and the events that led to your separation. 

You
acknowledge that in the course of your employment with Tanning you received, and may continue to receive, confidential information regarding Tanning and its business. You agree to keep such
information confidential and to not disclose such information to third parties without the prior written

  
consent of Tanning. Upon your separation from Tanning, you agree to return all confidential information in your possession and to not take or retain any such information in any form, whether printed,
electronic, or otherwise, except as necessary or appropriate in connection with your ongoing relationship with Tanning. You acknowledge that the surviving provisions set forth in your employment
agreement that you signed at the time of your hire, a form of which is attached hereto as Exhibit B, including sections 5, 6, 7, 8, 10 and 14, remain in effect and will continue to be
binding on you. 

You
acknowledge that after receiving the amounts described in this letter, you will have been paid in full for all salary, bonuses, vacation pay, and all other compensation of any kind that you were
or will be owed by Tanning. 

You
agree that the provision of the benefits described in this letter will not be construed to be an admission by Tanning of any liability whatsoever in connection with your employment by Tanning or
any other transaction between us, and you understand that Tanning expressly denies any liability. You agree that the benefits described in this letter agreement are reasonable and fair for the Release
and the other agreements set forth in this letter agreement. 

This
letter agreement will be governed by and interpreted in accordance with the laws of the State of Colorado. This letter agreement, the Release, and the surviving provisions of the employment
agreement between you and Tanning set forth above, collectively represent the entire agreement between you (or anyone who has or obtains any legal rights or claims through you) and Tanning with
respect to the subject matter covered herein and therein. They replace any other oral or written agreements, representations, promises or discussions between us. In the event of a conflict between the
provisions of this letter agreement and the surviving provisions of the employment agreement, the provisions of this letter agreement will control. This letter agreement and the Release may only be
amended by a writing that is executed by both parties. 

If
this letter agreement is acceptable, please sign below and sign the attached Release within 45 days after receipt, and return the letter agreement and Release to the Director of Human
Resources, Tanning Technology Corp., 4600 South Syracuse Street, Suite 1200, Denver, CO 80237. You may revoke the letter agreement or the Release within seven days after you sign it by
delivering written notice to the Director of Human Resources. We recommend that you seek the advice of an attorney before signing any agreement. 

	

 	
 	

Very truly yours,

Tanning Technology Corporation
	

 	
 	

By:	
 	

	

 	
 	

Its:	
 	

This letter agreement voluntarily agreed to and accepted. 

	

 Fred Fogel	
 	

 
	

Date:	
 	

	
 	

 

 

EXHIBIT A  

 RELEASE  

        I, Fred Fogel, hereby release and discharge Tanning Technology Corporation and its successors, predecessors, affiliates, officers, directors, shareholders,
employees, agents, and representatives (collectively, "Tanning") from any and all liability or claims of whatever nature, whether known or unknown (collectively, "Claims"), based on conduct prior to
the date hereof, which could be asserted against Tanning arising out of or relating to my employment with Tanning Technology Corporation, my separation of employment from Tanning Technology
Corporation, including all matters relating to the subject matter of this Release, the letter agreement to which it is attached (the "Letter Agreement"), or the events leading to their execution
(collectively, the "Released Claims"). This Release specifically includes, among other things, any and all claims under the federal Age Discrimination in Employment Act, 29
U.S.C. § 621, et seq. I agree not to file suit, or file any complaint or charge with any federal, state, or local
agency, against Tanning arising out of the Released Claims. Notwithstanding anything contained in the foregoing to the contrary, the Released Claims shall not include, and this release shall not waive
any Claims I may have: (i) relating to any indemnification or other rights pursuant to the Company's charter, certificate of incorporation, by-laws or directors' and officers'
insurance policies or otherwise; (ii) for accrued employee benefits under Tanning's benefit plans and accrued and unpaid salary and expense reimbursement, in each case as of the date of this
Agreement; or (iii) pursuant to the Letter Agreement. 

        I
acknowledge that: (1) I have been given up to 45 days to consider this Release and the Letter Agreement before signing it, and agree that any changes to the Release or
Letter Agreement, material or immaterial, did not restart the 45 day period; (2) I have been encouraged by Tanning to seek the advice of legal counsel before signing this Release or the
Letter Agreement; (3) the Release and Letter Agreement were freely and voluntarily signed; and (4) I have received the Reduction in Force information included in Schedule 1 as
required by the Old Workers' Benefit Protection Act, including an identification of the group of individuals covered by the Reduction in Force, and a list of all job titles and ages of employees
affected by the Reduction in Force. I understand that I may revoke this Release and the Letter Agreement within seven days after I sign them by delivering written notice to the Director of
Human Resources, Tanning Technology Corporation, at 4600 South Syracuse Street, Suite 1200, Denver, Colorado 80237. 

	

Date:	
 	

	
 	

 Fred Fogel

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Exhibit 10.3

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