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exhibit102.htm

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         

 

	 Exhibit 10.2

 

March 16, 2011

Michael Byron

Dear Michael,

NVIDIA Corporation is pleased to confirm our offer of employment for the position of Vice President of Finance, reporting to Jensen Huang or the CFO position, based out of the US, CA, Santa Clara office. Subject to approval of the Board of Directors of NVIDIA Corporation (the “Board”) of our recommendation, your position and title will also include Principal Accounting Officer. The salary for this position will be at a starting rate of $28,333.33 per month, $340,000.00 annually, less payroll deductions and all required withholdings. You will be paid semi-monthly and you will be eligible for the following company benefits in accordance with the terms of those plans or policies: health insurance, paid time off, holidays, Employee Stock Purchase Plan and a 401(k) Plan.  NVIDIA can change your duties, compensation, and benefits at its discretion.

As incentive to your accepting our offer, and in recognition of certain repayment obligations to your current employer, if, as a result of your acceptance of this offer, your current employer requires you to repay, on or before December 31, 2011, the signing bonus they paid to you in 2010, the Company will pay you a lump sum cash bonus equal to $115,000, less the value of any tax deduction you may be able to claim in respect of that repayment, with such bonus subject to applicable tax withholdings.  This bonus will be paid on the first full payroll cycle after your repayment, but in no event later than March 15, 2012.

Subject to approval by the Board, and to the terms of NVIDIA Corporation’s Equity Incentive Plan, you will receive a new hire grant of 20,000 Restricted Stock Units (RSUs).  The units will vest and be issued approximately over a four (4) year period, with 25% of the shares subject to the RSU becoming on the first vesting date, and 12.5% of the shares subject to the RSU becoming vested every six months thereafter, provided in each case you remain employed with NVIDIA on each such date.  If your start date is in the first six months of the calendar year (January to June), your first vesting date and expected issuance of shares will occur on the third Wednesday in March of the next calendar year.  If your start date is in the last six months of the calendar year (July to December), your first vesting date and expected issuance of shares will occur on the third Wednesday in September of the next calendar year.

Subject to approval by the Board, you will also receive an option to purchase 50,000 shares of NVIDIA Corporation’s Common Stock at an exercise prices per share that is equal to the fair market value of a share of NVIDIA Corporation’s Common Stock on the date of grant (the “Option”).  The shares subject to the Option will vest over a four (4) year period, with 25% vesting on the anniversary of your start date, and 6.25% vesting at the end of each quarterly period thereafter, provided you remain employed with NVIDIA on each such date.

 

  

 

Your employment is also contingent upon NVIDIA's standard background check conducted by HireRight. NVIDIA reserves the right to withdraw its job offer or terminate employment based on information discovered in the background check process. Please do not resign from your current employment until your suitability for employment has been confirmed through a successful background check and that has been communicated to you by NVIDIA.

In connection with your employment with NVIDIA, you will be working with and have access to certain confidential and proprietary information relating to NVIDIA’s business, its employees, and third parties.  Attached is a copy of a Proprietary Information Agreement, which you must read and sign prior to beginning your employment. If you have questions regarding the agreement, please contact your Recruiter, Josh Hasten.

You may terminate your employment with the Company at any time simply by notifying the Company.  Likewise, the Company may terminate your employment at any time, with or without cause or advance notice.

As required by law, this offer is subject to satisfactory proof of your right to work in the United States.  You should bring the appropriate document(s) with you (see attached list of acceptable documents) when you report to work.

If applicable, your employment at NVIDIA is contingent on NVIDIA successfully obtaining an export license or other approval for you in accordance with U.S. Commerce Department export license regulations.

I'm sending along an extra copy of this letter.  If you wish to accept employment at NVIDIA under the terms described above, please indicate by signing this letter below and returning it immediately to the Employment Specialist, Erin Strong.  Please also take time to review and sign the Proprietary Information Agreement and return to the Employment Specialist, Erin Strong on or before your start date.  If you accept our offer, we would like you to start no later than March 31, 2011.   This offer is valid until March 18, 2011.

This letter, together with the attached Proprietary Information Agreement contains the entire agreement between you and NVIDIA concerning your employment relationship.  It cannot be modified except in a signed agreement and it supersedes any other representations or promises made to you by anyone, whether oral or written.

We are excited about having you join us.  We look forward to your favorable reply and to a productive and enjoyable work relationship.  You will be contacted prior to your start date regarding orientation details.  Please report to work at 8:45AM on your start date to the lobby of building E.

Sincerely,

 

/s/ Scott Sullivan                                           

Scott Sullivan

SVP of Human Resources

NVIDIA Corporation

/s/ Michael J. Byron                                                      3/16/2011                                ______________________

         Accepted                                                                                    Date                                                                   Starting DateQuickLinks
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  Exhibit 10.52    
    

March 22,
2011 

Behringer
Harvard Multifamily REIT I, Inc.

15601 Dallas Parkway, Suite 600

Addison, Texas 75001  

	Re:
	Deferral
and Waiver of Certain Fees and Reimbursements

under the Fourth Amended and Restated Advisory Management Agreement 

Ladies
and Gentlemen: 

        Reference
is made to that certain Fourth Amended and Restated Advisory Management Agreement, dated June 14, 2010 (the "Advisory
Agreement"), by and between Behringer Harvard Multifamily REIT I, Inc., a Maryland corporation (the "Company"), and
Behringer Harvard Multifamily Advisors I, LLC, a Texas limited liability company (the "Advisor"). Capitalized terms used herein but not defined
herein shall have the meanings set forth in the Advisory Agreement. 

        In
consideration of the mutual agreements and covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the
Company and the Advisor hereby agree as follows: 

        1.    Waiver of Certain Asset Management Fees under the Advisory Agreement.    Pursuant to the Advisory Agreement, the
Advisor is entitled to receive a monthly Asset Management Fee, subject to certain restrictions, in an amount equal to a percentage of the sum of, for each and every Asset, the higher of the Cost of
Investment or the Value of Investment. In addition, pursuant to the Advisory Agreement, the Advisor, in its sole discretion, may waive, reduce or defer all or any portion of the Asset Management Fee
to which it would otherwise be entitled. Pursuant to the Advisory Agreement, with respect to the Asset Management Fees earned by the Advisor during the fiscal year ended December 31, 2010, the
Advisor, on behalf of itself and its Affiliates, and its and their respective successors and assigns, hereby waives the Company's obligation to pay Asset Management Fees calculated upon the Value of
Investment with respect to Assets for which the Value of Investment is or was higher than the Cost of Investment. Accordingly, the Asset Management Fees payable to the Advisor for the fiscal year
ended December 31, 2010 will only be calculated using the Cost of Investment, resulting in a waiver by the Advisor of approximately $43,300. 

        2.    Waiver of Certain Financing Fees.    Pursuant to the Advisory Agreement, for any debt financing obtained by or
for the Company, the Advisor is entitled to receive a Debt Financing Fee in an amount equal to a percentage of the amount available under the financing. During the fourth quarter of 2010, the Company
modified the senior loan related to a restructuring of its investment in a multifamily community known as Skye 2905. Pursuant to the Advisory Agreement, with respect to the Debt Financing Fee earned
by the Advisor in connection with such bridge loan, the Advisor, on behalf of itself and its Affiliates, and its and their respective successors and assigns, hereby waives the Company's obligations to
pay the Advisor the Debt Financing Fee in the amount of approximately $258,500 which would otherwise be due and payable under the Advisory Agreement. 

        3.    Deferral of Certain Expense Reimbursements.    Through December 31, 2010, approximately $3,289,708 is due
and payable from the Company to the Advisor for reimbursement of Organization and Offering Expenses under the Advisory Agreement. Notwithstanding anything to the contrary contained in the Advisory
Agreement, the Advisor, on behalf of itself and its Affiliates, and its and their respective successors and assigns, hereby defers the Company's obligations to reimburse such Organization and Offering
Expenses and any other reimbursements of Organization and Offering Expenses which would otherwise subsequently become due and payable under the Advisory Agreement. The Company and the Advisor will
determine by June 30, 2011 whether reimbursement of all or part of such Organization and Offering Expenses should continue to be deferred. If no additional agreement between the Advisor and the
Company is made, the Advisor shall prepare a statement documenting the unreimbursed Organization and Offering Expenses paid or incurred by the Advisor through June 30, 2011, the Advisor shall
deliver the statement to the Company within 45 days after June 30, 2011, and 

 

all
such Organization and Offering Expenses shall be reimbursed by the Company within 60 days of June 30, 2011. 

        4.    Ratification; Effect on Advisory Agreement.    

        (a)    Ratification.    The Advisory Agreement, as amended by this letter agreement, shall remain in full force and
effect and is hereby ratified and confirmed in all respects. 

        (b)    Effect on the Advisory Agreement.    On and after the date hereof, each reference in the Advisory Agreement to
"this Agreement," "herein," "hereof," "hereunder," or words of similar import shall mean and be a reference to the Advisory Agreement as amended hereby. 

        5.    Miscellaneous.    

        (a)    Governing Law; Venue.    This letter agreement and the legal relations between the parties hereto shall be
construed and interpreted in accordance with the internal laws of the State of Texas without giving effect to its conflicts of law principles, and venue for any action brought with respect to any
claims arising out of this letter agreement shall be brought exclusively in Dallas County, Texas. 

        (b)    Modification.    This letter agreement shall not be changed, modified, or amended, in whole or in part, except
by an instrument in writing signed by both parties hereto, or their respective successors or assignees. 

        (c)    Headings.    The titles and headings of the sections and subsections contained in this letter agreement are for
convenience only, and they neither form a part of this letter agreement nor are they to be used in the construction or interpretation hereof. 

        (d)    Severability.    The provisions of this letter agreement are independent of and severable from each other, and
no provision shall be affected or rendered invalid or unenforceable by virtue of the fact that for any reason any other or others of them may be invalid or unenforceable in whole or in part. 

        (e)    Counterparts.    This letter agreement may be executed in multiple counterparts, each of which shall be deemed
to be an original as against any party whose signature appears thereon, and all of which shall together constitute one and the same instrument. This letter agreement 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 letter agreement, to the extent signed and
delivered by means of electronic mail or a facsimile machine, shall be treated in all manner and respects as an original agreement or instrument and shall be considered to have the same binding legal
effect as if it were an original signed version thereof delivered in person. No party hereto shall raise the use of electronic mail or a facsimile machine to deliver a signature or the fact that any
signature was transmitted or communicated through the use of electronic mail or a facsimile machine as a defense to the formation or enforceability of a contract and each party hereto forever waives
any such defense. 

[The remainder of this page intentionally blank] 

2

  
        If the foregoing meets with your approval, please indicate your acceptance of this letter agreement by countersigning a copy of this letter agreement in the space indicated below. 

 

 

							
	 	 	 	 	Very truly yours,
	

 	
 	

 	
 	
BEHRINGER HARVARD MULTIFAMILY ADVISORS I, LLC
	

 	
 	

 	
 	
By:	
 	
 /s/ GERALD J. REIHSEN, III

 
	 	 	 	 	Name:	 	 Gerald J. Reihsen, III
	 	 	 	 	Its:	 	 Executive Vice President
	

Acknowledged and agreed, as of the date first written above:
	

BEHRINGER HARVARD MULTIFAMILY REIT I, INC.
	
By:	
 	
 /s/ HOWARD S. GARFIELD

 	
 	

 	
 	

 
	Name:	 	 Howard S. Garfield	 	 	 	 
	Its:	 	 Chief Financial Officer	 	 	 	 

 

 

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Exhibit 10.52

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