Document:

Exhibit 10.2

    

     

      

    
      EXECUTED VERSION

      

      

      INTERNAP CORPORATION

      RESTRICTED STOCK INDUCEMENT AWARD AGREEMENT

       

      1.          Award of Restricted Stock. Effective with your commencement of employment on October 1, 2019,
        Internap Corporation (the “Company”) hereby awards to the employee or director (“Recipient”) named in the Notice of Grant of Restricted Stock (“Notice”), a grant of Restricted Stock (“Stock”) for the total number of shares set forth on the Notice (the “Award”), subject to the
        terms, definitions and provisions of the Internap Corporation 2017 Stock Incentive Plan, as amended from time to time (the “Plan”), which is incorporated herein by reference, and the terms of this Restricted
        Stock Inducement Award Agreement (the “Agreement”), although this Award is issued as an inducement award pursuant to NASDAQ Listing Rule 5635(c)(4), is
          not issued under the Plan and the shares of Stock issued pursuant to this Award shall not be considered as issued under the Plan. Unless otherwise defined herein, terms not defined in this Agreement shall have the meanings ascribed to them
        in the Plan. In the event of a conflict between the terms and conditions of the Plan and those of this Agreement, the terms and conditions of this Agreement shall prevail.

       

      
        
          
            2.           Terms of Award.

          

        

      

       

      2.1           Lapsing of Restrictions. Subject to the limitations contained herein, the restrictions on the
        Award shall lapse, and the Award shall vest, as provided in the Notice, provided that vesting shall cease upon the termination of Recipient’s status as an Eligible Employee or a Director, except to the extent expressly provided in the Notice. The
        period during which the Stock is subject to restrictions imposed by the Plan and this Agreement shall be known as the “Restricted Period.”

       

      2.2            Forfeiture. Simultaneously with termination of Recipient’s status as an Eligible Employee or a
        Director, Recipient shall automatically forfeit any remaining unvested shares of Stock, except to the extent expressly provided in the Notice.

      

      

      2.3            Number of Shares of Stock. The number of shares of Stock subject to the Award may be adjusted
        from time-to-time as provided in Section 11 of the Plan.

       

      2.3            Restrictive Legends. The shares issued under the Award shall be endorsed with appropriate
        legends determined by the Company.

       

      3.           [Reserved]

      

      

      4.           Reacquisition of Unvested Shares. The Company shall automatically reacquire (“Reacquisition
          Right”) all or any part of the shares of Stock received pursuant to Recipient’s Award that have not as yet vested in accordance with the vesting schedule on the Notice (“Unvested Shares”) on the
        following terms and conditions:

       

      4.1            Escrow of Shares. The Company will hold each share of Stock issued under the Award in escrow on
        Recipient’s behalf until such time as the share of Stock vests, at which time such share of Stock shall be released to the Recipient’s account.

      

      

      4.2           Termination of Status. Except to the extent expressly provided in the Notice, the Company shall,
        simultaneously with termination of Recipient’s status as an Eligible Employee or a Director, automatically reacquire for no consideration all of the Unvested Shares, and Recipient shall automatically forfeit the Unvested Shares to the Company and
        relinquish any rights in the Unvested Shares to the Company.

       

      4.3           Adjustment of Shares. If, from time-to-time, there is any stock dividend, stock split or other
        change in the character or amount of any of the outstanding Stock of the Company the Stock of which is subject to the provisions of the Award, then in such event any and all new, substituted or additional securities to which Recipient is entitled
        by reason of ownership of the shares acquired under the Award will be immediately subject to the Reacquisition Right with the same force and effect as the shares subject to this Reacquisition Right immediately before such event.

       

      
        
          

      

      5.           Rights as a Stockholder. During the Restricted Period, Recipient shall have all voting,
        dividend, liquidation and other rights with respect to the Stock held of record by Recipient as if Recipient held unrestricted Stock; provided, however, that the Unvested Shares shall be subject to any
        restrictions on transferability or risks of forfeiture imposed pursuant to the Plan, the Notice or this Agreement. Any noncash dividends or distributions paid with respect to Unvested Shares shall be subject to the same restrictions as those
        relating to the Stock awarded under this Agreement. After the restrictions applicable to the Stock lapse, Recipient shall have all stockholder rights, including the right to transfer the shares, subject to such conditions as the Company may
        reasonably specify to ensure compliance with federal and state securities laws.

      

      

      6.           No Obligation to Employ. Nothing in this Agreement or the Plan shall confer on Recipient any
        right to continue in the employ of, or other relationship with, the Company, or limit in any way the right of the Company to terminate Recipient’s employment or other relationship at any time, with or without cause. By accepting this Award,
        Participant acknowledges and agrees that Participant’s acceptance of this Award is voluntary.

      

      

      7.           Withholding. The Company shall be entitled to (a) withhold and deduct from Recipient’s future
        wages (or from other amounts that may be due and owing to Recipient from the Company), or make other arrangement for the collection of, all legally required amounts necessary to satisfy any and all federal, state and local withholding and
        employment-related tax requirements attributable to the Stock awarded under this Agreement, including, without limitation, the award or vesting of, or payments of dividends with respect to, the Stock. Recipient may promptly remit the amount of such
        withholding to the Company or direct the Company to satisfy Recipient’s withholding requirements by withholding common stock to be received or by the delivery by Recipient to the Company of common stock of the Company. Unless the tax withholding
        obligations of the Company are satisfied, the Company shall have no obligation to issue a certificate for such shares or release such shares from any escrow provided for herein.

      

      

      8.           Transferability. Until the restrictions lapse as set forth herein, the Stock granted under this
        Agreement may not be transferred in any manner otherwise than by will or by the laws of descent and distribution. All rights with respect to the Stock are exercisable during Recipient’s lifetime only by Recipient.

      

      

      9.           Interpretation.  Any dispute regarding the interpretation of this Agreement shall be submitted by Recipient
        or the Company to the Compensation Committee for review. The resolution of such a dispute by the Compensation Committee shall be final and binding on the Company and Recipient.

      

      

      10.          Governing Law. This Agreement shall be governed by and construed according to the laws of the State
        of Delaware without regard to its principles of conflict of laws.

      

      

      11.          Entire Agreement. The Plan and the Notice are hereby incorporated by reference and made a part
        hereof. This Agreement, the Plan and the Notice constitute the entire agreement of the parties and supersede all prior undertakings and agreements with respect to the subject matter hereof.

      

      

      12.         Successors and Assigns. The Company may assign any of its rights under this Agreement. This
        Agreement shall be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement shall be binding upon Recipient and Recipient’s heirs, executors,
        administrators, legal representatives, successors and assigns.

       

      
        
          

      

      13.          Amendments. This Agreement may be amended or modified at any time only by an instrument in writing
        signed by each of the parties hereto.

      

      

      14.         Acceptance. By executing the Notice, Recipient acknowledges
          receipt of a copy of the Plan and the Notice and this Agreement and that Recipient has read and understands the terms and provisions hereof and thereof, that the Recipient accepts the Award subject to all the terms, definitions, provisions and
          conditions of the Plan the Notice and this Agreement, and that the Recipient understands and acknowledges that, notwithstanding the foregoing, the Award is not being issued under the Plan. Recipient acknowledges that there may be adverse tax consequences upon acceptance of the Award and that Recipient should consult a tax
          advisor prior to such exercise or disposition.

      

      

      IN WITNESS WHEREOF, this Agreement is made this 26th day of August 2019, and is effective for all purposes as the commencement of Recipient’s employment with the Company on October 1, 2019.

       

      
        	 	
                INTERNAP CORPORATION

              
	 	 
	

              	
                By: /s/ Peter D. Aquino

              
	
                

                

              	
                
                  Name: Peter D. Aquino

                

              
	
                

                

              	
                Title: Chief Executive Officer

              
	 	 
	 	
                /s/ Michael T. Sicoli

              
	 	
                Michael T. SicoliExhibit 10.3

      

       

      

      
        EXECUTION VERSION

      

       

      

      	
              Notice of Grant of Restricted Stock

            	
              Internap Corporation

            
	 	
              Employer ID: XXXXX

            
	 	
              12120 Sunset Hills Road, Suite 330

            
	 	
              Reston, VA 20190

            

      

      

      	 	 	 	 	 
	 	
              Participant: Michael T. Sicoli

            	 	
              Employee ID:

            	 
	 	
              [Address]

            	 	
              [INSERT]

            	 
	 	 	 	 	 

      

      

      You have been granted an Award of Internap Corporation (the “Corporation”) restricted Common Stock (the “Award”) as
        follows. The Award is granted as an inducement award pursuant to NASDAQ Listing Rule 5635(c)(4):

      

      

      	
              Type of Award:

            	
              Restricted Stock

            
	
              Grant No.:

            	
              [INSERT]

            
	
              Date of Award:

            	
              October 1, 2019

            
	
              Total Number of Shares Awarded:

            	
              150,000

            

      

      

      	 	
              Vesting Dates and Restrictions

            	 	
              Shares Vesting

            
	 	
              Hybrid Award:

            	 	 
	 	
              First Anniversary of the Date of Award, provided that the Performance Goal has been attained and You have remained in the employment of the Corporation through such
                date.

            	 	
              25,000

            
	 	
              Second Anniversary of the Date of Award, provided that the Performance Goal has been attained and You have remained in the employment of the Corporation through such
                date.

            	 	
              25,000

            
	 	
              Third Anniversary of the Date of Award, provided that the Performance Goal has been attained and You have remained in the employment of the Corporation through such
                date.

            	 	
              25,000

            
	 	
              Time Based Award:

            	 	 
	 	
              First Anniversary of the Date of Award, if You have remained in the employment of the Corporation through such date.

            	 	
              25,000

            
	 	
              Second Anniversary of the Date of Award, if You have remained in the employment of the Corporation through such date.

            	 	
              25,000

            
	 	
              Third Anniversary of the Date of Award, if You have remained in the employment of the Corporation through such date.

            	 	
              25,000

            

      

      

      Performance Goal:  The Performance Goal is the Corporation (on a consolidated basis) achieving earnings before interest, taxes, depreciation and
        amortization (EBITDA) less capital expenditures (CapEx) for the 2019 calendar year, measured as of December 31, 2019, of $68 million or more.  Whether the Performance Goal is achieved shall be determined by the Corporation’s Compensation Committee
        in its sole discretion.

       

      

      Forfeiture of Award Shares: If the Performance Goal is not achieved, the Hybrid Award shares shall be forfeited as of December 31, 2019.  Any shares of the
        Hybrid Award and the Time Based Award that are restricted as of your date of termination shall be immediately forfeited as of such date, subject to the “Acceleration” provisions set forth below.

       

      

      COC Acceleration:  In the event you have remained employed through the date of a Change of Control, all restrictions
        on unvested shares of the Time Based Award, and all restrictions on unvested shares of the Hybrid Award shall immediately lapse for all such shares, and all such shares shall immediately vest, unless the Compensation Committee has previously
        determined that the Performance Goal was not achieved, in which case the shares of the Hybrid Award shall be forfeited. If you are entitled to benefits in accordance with this paragraph, the Corporation may, in its sole and absolute discretion, in
        lieu of lapsing the restrictions on shares of this Award as described in the preceding sentence, pay you an amount equal to the number of shares whose restrictions were to lapse in accordance with the preceding sentence multiplied by the fair
        market value of such shares at the time of the Change of Control.

       

      

      Non-COC Acceleration: If you incur a Qualifying Termination, then as of such Qualifying Termination, all restrictions on unvested shares of the Time-Based
        Award, and to the extent the Performance Goal has been achieved, all restrictions on unvested shares of the Hybrid Award, in each case, shall immediately lapse for all such shares, and all such shares shall immediately vest.

       

      Non-Renewal Acceleration:  A termination of your employment because the Corporation elects not to renew the Employment Period shall be treated as a
        Qualifying Termination, and in the event of such election not to renew, all restrictions on unvested shares of the Time Based Award and to the extent the Performance Goal has been achieved, all restrictions on unvested shares of the Hybrid Award
        shall immediately lapse for all such shares, and all such shares shall vest.

      

      

      
        
          

      

      Termination Upon Death Acceleration: In the event your employment terminates because of your death, (i) the restrictions on the unvested shares of the Time
        Based Award, and to the extent the Performance Goal has been achieved, the restrictions on the unvested shares of the Hybrid Award, in each case, shall lapse and such unrestricted shares shall immediately vest on a pro rata basis, calculated by
        multiplying 75,000 (or 150,000 if the Performance Goal has already been achieved) by a fraction, the numerator of which is the number of days that you were employed by the Corporation, and the denominator of which is 1095, rounded to the nearest
        whole number, and then reduced by the number of shares of the Time Based Award that have already vested.

       

      

      For all purposes of this Notice, the terms “Change of Control,” “Employment Period,” and “Qualifying Termination” shall be as defined in your Employment Agreement dated August 26, 2019 (the “Employment Agreement”).

       

      

      This Award is intended to be an inducement material to your entering into employment with the Corporation under NASDAQ Marketplace Rules.

       

      

      By your acceptance of this Award through the E*Trade website, You agree that this Award is subject to all the terms, definitions and conditions of the Internap Corporation 2017 Stock Incentive Plan (as amended from
        time to time) (the “ Plan ”), and by the terms and conditions of the Restricted Stock Inducement Award Agreement. However, you also agree that this
          Award has not been granted under the Plan and any shares of the Corporation’s Common Stock issued to you pursuant to this Award shall not be
          considered to be granted under the Plan

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00299-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00299-of-00352.parquet"}]]