Document:

exv10w1

Exhibit 10.1

FIRST AMENDMENT TO
FIRST AMENDED AND RESTATED
EMPLOYMENT AGREEMENT

     THIS FIRST AMENDMENT TO FIRST AMENDED AND RESTATED EMPLOYMENT AGREEMENT (the “Amendment”),
dated as of the 15th day of October, 2009, is by and between Corrections Corporation of
America, a Maryland corporation with its principal place of business at 10 Burton Hills Boulevard,
Nashville, Tennessee (the “Company”), and Damon T. Hininger, a resident of Brentwood, Tennessee
(the “Executive”). All capitalized terms used herein but otherwise not defined shall have the
meaning as set forth in the Employment Agreement, as herein defined.

     WHEREAS, the Company and the Executive are parties to that certain First Amended and Restated
Employment Agreement, dated as of August 21, 2008 (the “Employment Agreement”), pursuant to which
Executive serves as the President and Chief Operating Officer of the Company;

     WHEREAS, the Executive has been promoted by the Company to the position of Chief Executive
Officer; and

     WHEREAS, the Company and the Executive now desire to amend certain terms and provisions of the
Employment Agreement pursuant to the terms hereof.

     NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein and
other good and valuable consideration, the receipt, sufficiency and mutuality of which are hereby
acknowledged, the Company and the Executive hereby agree as follows.

     1. Amendments.

               (a) Section 1 is deleted in its entirety and replaced with the
following:

               “1. Employment; Election to the Board of Directors.

               (i) The Executive shall serve as President and Chief Executive Officer of the
Company and such other office or offices to which the Executive may be appointed or
elected by the Board of Directors. Subject to the direction and supervision of the
Board of Directors of the Company, the Executive shall perform such duties as are
customarily associated with the office of Chief Executive Officer and such other
offices to which the Executive may be appointed or elected by the Board of
Directors. The Executive’s principal base of operations for the performance of his
duties and responsibilities under this Agreement shall be the offices of the Company
located in Nashville, Tennessee. The Executive agrees to abide by the Company’s
Charter and Bylaws as in effect from time to time and the direction of its Board of
Directors except to the extent such direction would be inconsistent with applicable
law or the terms of this Agreement.

 

 

               (ii) For so long as the Executive remains employed by the Company as Chief
Executive Officer, the Company shall use its reasonable best efforts to cause the
Board of Directors to nominate the Executive for election to the Board of Directors
in accordance with the Company’s governance policies and applicable law; provided,
that, the Executive’s continuing service as a member of the Board of Directors shall
remain subject to election by the Company’s stockholders in accordance with the
Company’s governance policies and applicable law. In the event the Executive’s
employment with the Company shall terminate for any reason whatsoever (including
without limitation, at the expiration of this Agreement), the Executive agrees that
he shall immediately resign his position as a member of the Board, and each other
position that he then holds with the Company or any of its affiliates. If the
Executive shall fail to so resign, then such failure shall constitute Cause, and the
Board of Directors shall thereupon have the right to remove the Executive from all
such positions without further action, deed or notice.

               (b) Section 4.1 is deleted in its entirety and replaced with the
following:

               “4.1 Base Salary. The Company shall pay the Executive an annual salary (“Base
Salary”) of $600,000, which shall be payable to the Executive hereunder in accordance with
the Company’s normal payroll practices, but in no event less often than bi-weekly.
Commencing at such time during 2010 when annual compensation for 2010 is reviewed and
considered and following each year of the Executive’s employment with the Company
thereafter, the Executive’s compensation will be reviewed by the Board of Directors of the
Company, or a committee or subcommittee thereof to which compensation matters have been
delegated, and after taking into consideration both the performance of the Company and the
personal performance of the Executive, the Board of Directors of the Company, or any such
committee or subcommittee, in their sole discretion, may increase the Executive’s
compensation to any amount it may deem appropriate.

	2.	 	Effect of Amendment. Except as expressly modified by the terms of this
Amendment, the provisions of the Employment Agreement shall continue in full force and
effect.
	 
	3.	 	Counterparts. This Agreement may be executed in counterparts, each of
which shall be deemed to be an original, and all of which, taken together, shall be
deemed to be one and the same instrument.
	 
	4.	 	Headings. The sections, subjects and headings in this Amendment are
inserted for convenience only and shall not affect in any way the meaning or
interpretation of this Amendment.
	 
	5.	 	Governing Law. The validity, interpretation and effect of this
Amendment shall be governed exclusively by the laws of the State of Tennessee without
regard to the choice of law principals thereof.

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	6.	 	Severability. Should any part of this Amendment be invalid or
unenforceable, such invalidity or unenforceability shall not affect the validity and
enforceability of the remaining portion.
	 
	7.	 	Successors. This Amendment shall be biding upon and inure to the
benefit of the respective parties and their permitted assigns and successors in
interest.
	 
	8.	 	Waivers. No waivers of any breach of any of the terms or conditions of
this Amendment shall be held to be a waiver of any other or subsequent breach; nor
shall any waiver be valid or binding unless the same shall be in writing and signed by
the party alleged to have granted the waiver.

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     IN WITNESS WHEREOF, the parties have executed this Amendment as of the day and year first
written above.

	 	 	 	 	 
	 	THE EXECUTIVE:

DAMON T. HININGER

 	 
	 	/s/ Damon T. Hininger
 	 
	 	 	 
	 	THE COMPANY:

CORRECTIONS CORPORATION OF AMERICA

 	 
	 	 	/s/ John D. Ferguson
 	 
	 	 	By:   John D. Ferguson 	 
	 	 	Title:  	Chairman of the Board of Directors 	 

4exv10w2

Exhibit 10.2

October 15, 2009

John D. Ferguson

Corrections Corporation of America

10 Burton Hills Boulevard

Nashville, TN 37215

     Re: Non-Competition, Non-Solicitation and Confidentiality and Non-Disclosure during your
“at-will” employment and term as a member and the Chairman of the Board of Directors of Corrections
Corporation of America (the “Company”)

Mr. Ferguson:

     As previously discussed, your position as Chief Executive Officer of the Company comes to an
end effective October 15, 2009 and you have elected not to extend the Employment Agreement, dated
as of August 15, 2007, as amended (the “Agreement”). Notwithstanding, you intend to continue as a
member and the Chairman of the Board of Directors of the Company, subject to election by the
stockholders and the Board of Directors, respectively, in accordance with the Company’s bylaws.
You will also remain employed by the Company as an “at will” employee on terms and conditions to be
established by the Compensation Committee of the Board of Directors.

     This letter is to establish and clarify that while you are a member of the Board of Directors
and an “at will” employee of the Company, the provisions of Exhibit A hereto regarding
non-competition, non-solicitation and confidentiality and non-disclosure will be valid and
enforceable. Once your positions (as described above) with the Company come to an end, you will
remain bound by the provisions in Exhibit A for the periods of time set forth therein.

     Please confirm your acknowledgement of and agreement with the foregoing by reviewing and
signing in the space provided below.

	 	 	 	 	 
	 	Very truly yours,

CORRECTIONS CORPORATION OF AMERICA

 	 
	 	By:  	/s/ Damon T. Hininger
 	 
	 	 	Damon T. Hininger 	 
	 	 	 	 
	 

Confirmed and Agreed as

of the date written above:

	 	 	 
	/s/ John D. Ferguson
 

John D. Ferguson
	 	 

 

 

Exhibit A

Non-Competition, Non-Solicitation and Confidentiality and Non-Disclosure.

     Non-Competition, Non-Solicitation. Ferguson hereby covenants and agrees that during
term of Ferguson’s employment by the Company or service as a member of the Company’s Board of
Directors and for a period of one (1) year thereafter, Ferguson shall not, directly or indirectly:
(i) own any interest in, operate, join, control or participate as a partner, director, principal,
officer or agent of, enter into the employment of act as a consultant to, or perform any services
for any entity (each a “Competing Entity”) which has material operations which compete with any
business in which the Company is then engaged; (ii) solicit any customer or client of the Company
with respect to any business in which the Company is then engaged (other than on behalf of the
Company); or (iii) induce or encourage any employee of the Company to leave the employ of the
Company; provided, that Ferguson may, solely as an investment, hold not more than five percent (5%)
of the combined voting securities of any publicly-traded corporation or other business entity. The
foregoing covenants and agreements of Ferguson are referred to herein as the “Restrictive
Covenant.” Ferguson acknowledges that he has carefully read and considered the provisions of the
Restrictive Covenant and, having done so, agrees that the restrictions set forth in this Exhibit A,
including without limitation the time period of restriction set forth above, are fair and
reasonable and are reasonably required for the protection of the legitimate business and economic
interests of the Company.

     In the event that, notwithstanding the foregoing, any of the provisions of this Exhibit A or
any parts hereof shall beheld to be invalid or unenforceable, the remaining provisions or parts
hereof shall nevertheless continue to be valid and enforceable as though the invalid or
unenforceable portions or parts had not been included herein. In the event that any provision of
this Exhibit A relating to the time period and/or the area of restriction and/or related aspects
shall be declared by a court of competent jurisdiction to exceed the maximum restrictiveness such
court deems reasonable and enforceable, the time period and/or area of restriction and/or related
aspects deemed reasonable and enforceable by such court shall become and thereafter be the maximum
restrictions in such regard, and the provisions of the Restrictive Covenant shall remain
enforceable to the fullest extent deemed reasonable by such court.

     Confidentiality and Non-Disclosure. Ferguson hereby agrees that during the term of his
employment or service as a Director and for a period of one (1) year thereafter to hold in
confidence all information concerning the Company or its business, including, but not limited to
contract terms, financial information, operating data, or business plans or models, whether for
existing, new or developing businesses, and any other proprietary information (hereinafter,
collectively referred to as the “Proprietary Information”), whether communicated orally or in
documentary or other tangible form. The parties to this Agreement recognize that the Company has
invested considerable amounts of time and money in attaining and developing all of the information
described above, and any unauthorized disclosure or release of such Proprietary Information in any
form would irreparably harm the Company.

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