Document:

Exhibit

EXHIBIT 10.29

JOINDER AGREEMENT
This JOINDER AGREEMENT is made and entered into as of August 11, 2015, by and among GRIFFIN CAPITAL ESSENTIAL ASSET OPERATING PARTNERSHIP II, L.P, as Borrower (“Borrower”), KEYBANK, NATIONAL ASSOCIATION, as Administrative Agent for the Lenders (in such capacity, “Administrative Agent”) and the Subsequent Lender (as defined below).
A.    Pursuant to that certain Credit Agreement dated as of December 12, 2014 by and among the Borrower, the financial institutions parties thereto, as lenders (collectively, the “Lenders”), and Administrative Agent (the “Credit Agreement”), the Lenders have provided the Borrower with a revolving credit facility;
B.    The Borrower has requested an increase in the aggregate Commitments of the Lenders to $410,000,000.00 (the “Facility Increase”), to be effected by, among other things, the admission of ASSOCIATED BANK, NATIONAL ASSOCIATION (the “Subsequent Lender”) as a Lender under the Credit Agreement with a Commitment of $25,000,000.00.  Such Facility Increase shall be effective on or about the Effective Date (as defined below).
NOW, THEREFORE, in consideration of the mutual promises herein contained, and for other valuable consideration, the receipt and sufficiency of which are acknowledged, the parties hereto agree as follows:
1.DEFINED TERMS; REFERENCES.  Unless otherwise specifically defined herein, each term used herein that is defined in the Credit Agreement shall have the meaning assigned to such term in the Credit Agreement.  As used herein, the term “Effective Date” shall mean the date on which the conditions set forth in Section 4 hereof shall have been satisfied
2.JOINDER OF SUBSEQUENT LENDER.  The Subsequent Lender hereby (a) acknowledges, agrees and confirms that, by its execution of this Joinder Agreement, it will be deemed to be a party to the Credit Agreement and a Lender for all purposes of the Credit Agreement and the other Loan Documents, and shall have all of the rights and obligations of a Lender thereunder as if it had executed the Credit Agreement and the other Loan Documents; (b) ratifies, as of the date hereof, and agrees to be bound by, all of the terms, provisions and conditions contained in the Loan Documents applicable to a Lender; (c) confirms that it has received a copy of the Credit Agreement and the other Loan Documents, together with such other documents and information as it has deemed appropriate to make its own credit analysis and decision to become a Lender under the Credit Agreement; (d) confirms that all approvals and authorizations required to permit the execution, delivery, performance and consummation by the Subsequent Lender of this Joinder Agreement, and the performance by the Subsequent Lender as a Lender under the Credit Agreement, have been obtained; (e) represents and warrants that, upon the Effective Date, each of the Credit Agreement and the Loan Documents will constitute the Subsequent Lender’s duly authorized, legal, valid, binding and enforceable obligation; (f) agrees that it will, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement or any other Loan Document; (g) appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers under the Credit Agreement and the other Loan Documents as are delegated to the Administrative Agent by the terms thereof together with such powers as are reasonably incidental thereto; and (h) if the Subsequent Lender is organized under the laws of a jurisdiction outside the United States, has delivered to the Administrative Agent completed and signed copies of any forms that may be required by the United States Internal Revenue Service in order to certify the Subsequent Lender’s exemption from United States withholding taxes with respect to any payments or distributions made or to be made to it in respect of the Loans or under the Credit Agreement or such other documents as are necessary to indicate that all such payments or distributions are subject to such taxes at a rate reduced by an applicable tax treaty.  As of the Effective Date, the Subsequent Lender shall be a party to the Credit Agreement and the other Loan Documents and, to the extent provided in this Section 2, shall have the rights and obligations of a Lender thereunder.  From and after the Effective Date, the Administrative Agent shall, to the extent received from the Borrowers, make all payments under the Credit Agreement in respect of the interest of the Subsequent Lender acquired pursuant to this Section 2 (including, without limitation, all payments of principal and interest with respect thereto) to the Subsequent Lender as a Lender under the Credit Agreement.
3.SUBSTITUTION OF LENDER COMMITMENTS SCHEDULE. The Credit Agreement is hereby deemed amended to reflect the increase in the Commitments evidenced hereby and the addition of the Subsequent Lender as a Lender under the Credit Agreement, and Schedule 2.01 attached hereto is hereby substituted in lieu of the pre-existing Schedule 2.01 to the Credit Agreement, to reflect the joinder of the Subsequent Lender.
4.EFFECTIVENESS OF JOINDER.  The effectiveness of this Joinder Agreement and the transactions contemplated hereunder is subject to receipt by Administrative Agent of the following documents:
a.Joinder Agreement.  This Joinder Agreement, duly executed and delivered by the Borrowers, Administrative Agent and the Subsequent Lender;
b.Note.  A duly executed Note payable to the order of Subsequent Lender; and

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c.Miscellaneous.  Delivery of such other information and documents as may reasonably be required by Administrative Agent and its counsel.
5.REPRESENTATIONS AND WARRANTIES.  Each Borrower hereby represents and warrants to Lenders that:
a.Due Authorization and Enforceability.  Each Borrower has the authority to execute this Joinder Agreement, this Joinder Agreement has been duly authorized, executed and delivered by such Borrower, and this Joinder Agreement constitutes the legal, valid and binding obligation of such Borrower, enforceable against such Borrower in accordance with its terms.
b.Representations and Warranties in Credit Agreement.  The representations and warranties contained in Article III of the Credit Agreement are true and correct in all material respects on and as of the date hereof, with the same force and effect as if made on and as of the date hereof (except for any representations and warranties that expressly refer to another date, which shall be true and correct in all material respects as of such date).
c.No Event of Default.  No Event of Default or Default under the Credit Agreement has occurred and is continuing on the date hereof.
6.MISCELLANEOUS.
a.Limitation on Agreements.  The agreements set forth herein are limited precisely as written and shall not be deemed: (i) to be a consent under or waiver of any term or condition in the Credit Agreement or any of the other Loan Documents; or (ii) to prejudice any right or rights which Administrative Agent and Lenders now have or may have in the future under, or in connection with the Credit Agreement, the Notes, the other Loan Documents or any of the other documents referred to herein or therein.  From and after the date of this Joinder Agreement, all references in the Loan Documents to the Credit Agreement shall be deemed to be references to the Credit Agreement after giving effect to this Joinder Agreement, each reference to “Lender” shall include the Subsequent Lender, and each reference to “hereof,” “hereunder,” “herein” or “hereby” and each other similar reference and each reference to “this Agreement” and each other similar reference contained in the Credit Agreement shall from and after the date hereof refer to the Credit Agreement as supplemented by this Joinder Agreement.
b.Ratification. Each Borrower hereby ratifies, confirms and agrees that, following the effectiveness of this Joinder Agreement: (i) the Credit Agreement, the Notes and the other Loan Documents shall remain in full force and effect; and (ii) the Notes shall continue to evidence and secure, in the manner and to the extent provided therein, the performance of the Obligations of the Borrowers under the Credit Agreement.
c.Counterparts.  This Joinder Agreement may be executed in two or more counterparts, each of which shall constitute an original but all of which when taken together shall constitute but one contract.  Delivery of an executed counterpart of a signature page to this Joinder Agreement by telecopier, electronic mail or other electronic delivery shall be effective as delivery of a manually executed counterpart of this Joinder Agreement.
d.GOVERNING LAW.  THIS JOINDER AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.
REMAINDER OF PAGE INTENTIONALLY LEFT BLANK;
SIGNATURE PAGES FOLLOW.

    

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IN WITNESS WHEREOF, the parties hereto have caused this Joinder Agreement to be duly executed as of the day and year first above written.
	
				
	BORROWER:

	 

	GRIFFIN CAPITAL ESSENTIAL ASSET OPERATING PARTNERSHIP, L.P., a Delaware limited partnership

	 

	By: 
	GRIFFIN CAPITAL ESSENTIAL ASSET REIT, INC., a Maryland corporation, its General Partner

	 
	 
	 
	 

	 
	 
	By: 
	/s/ Joseph E. Miller

	 
	 
	Name: 
	Joseph E. Miller

	 
	 
	Title: 
	Chief Financial Officer

Signature Page to Joinder Agreement

	
				
	ADMINISTRATIVE AGENT:

	 

	KEYBANK, NATIONAL ASSOCIATION as Administrative Agent on behalf of Lenders

	 

	 
	 
	By: 
	/s/ Christopher T. Neil

	 
	 
	Name: 
	Christopher T. Neil

	 
	 
	Title: 
	Vice President

Signature Page to Joinder Agreement

	
				
	SUBSEQUENT LENDER:

	 

	ASSOCIATED BANK, NATIONAL ASSOCIATION, as Subsequent Lender

	 

	 
	 
	By: 
	/s/ Greg Conner

	 
	 
	Name: 
	Greg Conner

	 
	 
	Title: 
	Vice President

Signature Page to Joinder Agreement

Schedule  2.01
LENDER COMMITMENTS

	
			
	Name
	Commitment
	Applicable Percentage

	KEYBANK, NATIONAL ASSOCIATION
	$75,000,000.00
	%18.30

	JPMORGAN CHASE BANK, N.A.
	$75,000,000.00
	%18.30

	CAPITAL ONE, N.A.
	$50,000,000.00
	%12.20

	FIFTH THIRD BANK
	$50,000,000.00
	%12.20

	SUNTRUST BANK
	$50,000,000.00
	%12.20

	WELLS FARGO BANK, NATIONAL ASSOCIATION
	$35,000,000.00
	%8.50

	BANK OF AMERICA, N.A.
	$50,000,000.00
	%12.20

	ASSOCIATED BANK
	$25,000,000.00
	%6.10

	TOTAL
	$410,000,000.00
	%100.00

Schedule 2.01

GUARANTOR CONFIRMATION

Each of the undersigned hereby acknowledges and consents to the foregoing Joinder Agreement and acknowledges and agrees that it remains obligated for all obligations and liabilities of the Borrower to the Administrative Agent and the Lenders under the Credit Agreement as provided for under the respective Guaranty provided by the undersigned dated December 12, 2014, including, without limitation, repayment of the principal sum of Four Hundred Ten Million and 00/100 Dollars ($410,000,000.00) (subject to increase to an aggregate principal sum of up to One Billion Two Hundred Fifty Million and 00/100 Dollars ($1,250,000,000.00) in accordance with Section 2.08 of the Credit Agreement) or so much thereof as may be due and owing under any Note or any of the other Loan Documents, together with interest and any other sums payable under any Note or any of the other Loan Documents.

	
				
	GRIFFIN CAPITAL ESSENTIAL ASSET REIT, INC., a Maryland corporation

	 

	 
	 
	By: 
	/s/ Joseph E. Miller

	 
	 
	 
	Joseph E. Miller

	 
	 
	 
	Chief Financial Officer

GRIFFIN (HOUSTON WESTGATE II) ESSENTIAL ASSET REIT II, LLC
GRIFFIN (CONCORD) ESSENTIAL ASSET REIT II, LLC
GRIFFIN (MECHANICSBURG) ESSENTIAL ASSET REIT II, LLC 
GRIFFIN (PHOENIX BEARDSLEY IPC) ESSENTIAL ASSET REIT II, LLC
GRIFFIN (PHOENIX BEARDSLEY TRCW) ESSENTIAL ASSET REIT II, LLC
GRIFFIN (LAS VEGAS GRIER) ESSENTIAL ASSET REIT II, LLC
GRIFFIN (COLUMBUS) ESSENTIAL ASSET REIT II, LLC
GRIFFIN (HAMPTON 300) ESSENTIAL ASSET REIT II, LLC 
GRIFFIN (HAMPTON 500) ESSENTIAL ASSET REIT II, LLC 
GRIFFIN (PARSIPPANY 14) ESSENTIAL ASSET REIT II, LLC 
GRIFFIN (GROVEPORT) ESSENTIAL ASSET REIT II, LLC 
GRIFFIN (ANDOVER) ESSENTIAL ASSET REIT II, LLC
GRIFFIN (WEST JEFFERSON) ESSENTIAL ASSET REIT II, LLC
GRIFFIN (TUCSON) ESSENTIAL ASSET REIT II, LLC
    	
					
	By:
	GRIFFIN CAPITAL ESSENTIAL ASSET OPERATING PARTNERSHIP, L.P., a Delaware limited partnership

	 
	By: 
	GRIFFIN CAPITAL ESSENTIAL ASSET REIT, INC., a Maryland corporation, its General Partner

	 
	 
	 
	By: 
	/s/ Joseph E. Miller

	 
	 
	 
	Name: 
	Joseph E. Miller

	 
	 
	 
	Title: 
	Chief Financial Officer

Guarantor ConfirmationExhibit 10.1

 

 

COCA-COLA PLAZA

ATLANTA, GEORGIA

 

	
MUHTAR KENT
    	
 
    	
ADDRESS   REPLY TO:
    
	
CHAIRMAN   AND CHIEF EXECUTIVE OFFICER
    	
 
    	
P.O. BOX   1734
    
	
THE   COCA-COLA COMPANY
    	
 
    	
ATLANTA,   GA 30301
    
	
 
    	
 
    	    

 

 
    
	
 
    	
 
    	
404   676-4082
    
	
 
    	
 
    	
FAX:   404 676-7721
    

 

August 12, 2015

 

James Quincey

London, England

 

Dear James,

 

We are delighted to confirm your new position as President and Chief Operating Officer, job grade 24, effective immediately.  You will report to me.  The information contained in this letter provides details of your position.

 

·                  Your principal place of assignment will be Atlanta, Georgia.  You will be employed by The Coca-Cola Company upon receipt of required work permits.  You will cease to be employed by Beverage Services Limited at that time with no further obligations on the part of either party.

 

·                  Your annual base salary for your new position will be $900,000.

 

·                  You will continue to be eligible to participate in the annual Performance Incentive Plan.  The target annual incentive for a job grade 24 is 175% of annual base salary.  The actual amount of an incentive award may vary and is based on individual performance and the financial performance of the Company. Awards are made at the discretion of the Compensation Committee of the Board of Directors.  The plan may be modified from time to time.

 

·                  You will continue to be eligible to participate in The Coca-Cola Company’s Long-Term Incentive program.  Awards are made at the discretion of the Compensation Committee of the Board of Directors based upon recommendations by Senior Management.  You will be eligible to receive long-term incentive awards within guidelines for the job grade assigned to your position and based upon your personal performance, Company performance, and leadership potential to add value to the Company in the future.  As a discretionary program, the award timing, frequency, size and mix of award vehicles are variable.

 

·                  The Compensation Committee of the Board of Directors has approved a special one-time restricted stock unit grant with an estimated value of $3,000,000.  The restrictions will lapse and the award will be released to you 50% three years from 

 

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today and 50% four years from today, contingent on your continued employment.  The award will be governed solely by the terms of the Company’s 2014 Equity Plan and the Agreement that will be provided to you at the time the award is made.  The actual number of units awarded will be determined using the target value and the average of the closing prices of The Coca-Cola Company’s common stock on the thirty days preceding the grant date.

 

·                  You will be expected to acquire and maintain share ownership at a level equal to five times your base salary.  As part of the Company’s ownership expectations, you will have two additional years, or until December 31, 2017 to achieve this level of ownership.  You will be asked to provide information in December each year on your progress toward your ownership goal, and that information will be reviewed with the Compensation Committee of the Board of Directors the following February.

 

·                  You will be eligible for the Company’s Financial Planning and Counseling program which provides reimbursement of certain financial planning and counseling services, up to $10,000 annually, subject to taxes and withholding.

 

·                  You will be eligible for the Emory Executive Health benefit which includes a comprehensive physical exam and one-on-one medical and lifestyle management consultation.

 

·                  You are required to enter into the Agreement on Confidentiality, Non-Competition, and Non-Solicitation, effective immediately (enclosed).

 

·                  To support your transition to Atlanta, for the first two years of your assignment, you will participate in the Global Mobility Policy and be provided the standard benefits of that program. The duration and type of assignment are contingent upon the business needs of the Company provided suitable performance standards are maintained.  The Code of Business Conduct, Confidentiality Agreements, or any other document related to knowledge you acquire of Company business or conducting business remain in effect during international assignment.  Effective September 1, 2017, you will be considered a local employee in the United States, you will no longer receive any benefits under the Global Mobility Policy, and any applicable localization benefits under that policy will not apply.

 

·                  This letter is provided as information and does not constitute an employment contract.

 

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Congratulations, James.  I feel certain that you will find challenge, satisfaction and opportunity in this new role and as we continue our journey toward the 2020 Vision.

 

 

	
Sincerely,
    	
 
    
	
 
    	
 
    
	
/s/ Muhtar Kent
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
Muhtar Kent
    	
 
    

 

c:                                      Ceree Eberly

Shane Smith

Executive Compensation

GBS Executive Services

 

Enclosures:    Agreement on Confidentiality, Non-Competition, and Non-Solicitation

 

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