Document:

Exhibit 10.2

 

 

April 20, 20154

 

Steve Smith

 

Dear Steve,

 

On behalf of CoreSite, L.L.C. (the “Company”), I am very pleased to offer you the full-time position of Senior Vice President, Sales & Sales Enablement. As discussed, this position reports to Jarrett Appleby, Chief Operating Officer.  You will be expected to perform duties commensurate with your position, as well as other duties assigned by the Company from time to time.  Your work location will be the Denver corporate office, but you will be expected to travel for your role.

 

This letter sets forth the terms of your employment with the Company beginning no later than January 27, 2014.  Please indicate your acceptance by signing and returning this letter no later than January 9, 2014.  If you do not sign and return this letter by such date, this offer will be deemed withdrawn.

 

1.              Compensation.  Your base salary will be $300,000 annually, payable on a bi-weekly basis and subject to applicable withholding. Your salary may be adjusted annually, in the Company’s sole discretion.  CoreSite’s regular business hours are 8:00 a.m. to 5:00 p.m., Monday through Friday.  You are expected to be available during business hours.   Your position may require that you work beyond regular business hours from time to time. As an overtime-exempt employee, you are not eligible for overtime compensation

 

2.              Annual Year-End Bonus and Commission.

 

a.              You will be eligible for an annual target bonus estimated to total $ 75,000 (the “Annual Target Bonus”), prorated to reflect the number of days actually worked during your first year of employment.  The Annual Target Bonus will be determined based partially upon your contributions to the defined company objectives and your individual performance, as determined in the discretion of the Company, and may be less than, equal to, or greater than $75,000.

 

b.              You will also be eligible for a quarterly performance-based bonus of $43,750 ($175,000 annual) based upon sales and revenue metrics to be determined as reasonably practicable hereafter and revised from time to time as determined by the Company (the “Quarterly Sales Bonus). The Quarterly Sales Bonus also will be prorated for the percentage of your first quarter employed by the Company.

 

3.              On-Boarding Compensation

 

a.              LTIP Grant.  Not later than the first regularly scheduled Board meeting of CoreSite Realty Corporation (“CoreSite Realty”) following commencement of your employment with the Company and subject to CoreSite Realty Board approval, you will receive a time-vested restricted stock grant valued at $300,000 granted pursuant to CoreSite Realty’s 2010 Equity Incentive Award Plan. The number of shares will be determined utilizing the closing stock price on the date of grant. The grant will vest ratably over three years from the date of your commencement of employment with the Company.

 

b.              Ongoing LTIP. Beginning in the 2015 grant cycle and subject to CoreSite Realty Board approval, you will be eligible to receive an ongoing stock grant valued at $100,000 granted pursuant to CoreSite Realty’s 2010 Equity Incentive Award Plan (“Ongoing LTIP Grant”). A portion of your Ongoing LTIP Grant

 

1050 17th Street, Suite 800 | Denver, CO 80265 USA | T +1 866.777.CORE | F +1 877.233.3607 | www.CoreSite.com

 

STRONG DATA CENTERS.  LASTING RELATIONSHIPS.

 

 

(approximately 40% of grant-date value) is anticipated to be granted in the form of shares with vesting tied to Company performance metrics.

 

c.               2014 Guaranteed Cash Compensation: Your total 2014 cash compensation, including base salary, the Annual Target Bonus and all Quarterly Sales Bonuses, will be no less than $650,000 based on a full calendar year of employment (the “2014 Guaranteed Cash Compensation”).  This $650,000 2014 Guaranteed Cash Compensation will be prorated based on your actual days of employment with the Company during 2014.

 

d.              Signing Bonus.  Upon acceptance of this offer of employment with the Company and provided you do not receive your final year-end commissions/bonus from SAP, you will receive a one-time cash payment of $150,000.  This amount will be paid with your first paycheck. This $150,000 cash payment is subject to required withholdings and deductions for applicable taxes and will not be used for calculating benefits.  You will be required to repay this signing bonus if you leave the Company voluntarily within twelve (12) months following commencement of your employment.

 

4.              Benefits.  You will be eligible to participate in the Company’s health insurance, life insurance, and disability plans on the first day of the month following your start date, subject to the regular eligibility requirements with respect to such benefit plans, which may be amended from time to time.  Should you elect to participate in these programs, you must submit your benefit elections through our Employee Portal.  Remember — benefit enrollment is your responsibility. If you have questions about the benefits, please contact Human Resources by calling 303-405-1038.  If you do not enroll at the time of your initial eligibility, you will have to wait for the next annual enrollment period or qualifying event.

 

You will earn 3 weeks of paid time off annually pursuant to the Company’s policy.

 

5.              Paid Parking.  The Company provides on-site parking for all employees.  Alternatively, employees who commute to work via public transportation are eligible for reimbursement of up to $180.00 per month.

 

6.              Compliance with Law and Company Policies and Procedures.  You agree that you will at all times comply with the Company’s policies and procedures, and any law governing the Company or your employment.  You understand and agree that the Company policies and procedures do not create any contractual relationship between you and the Company, and the policies and procedures may be changed at any time, for any reason, at the sole discretion of the Company.  You represent that to your knowledge, no investigation, claim or litigation is currently pending or threatened against you at this time relating to or arising out of your activities as an employee with another employer.  You further represent that to your knowledge, you are not subject to a non-competition or other agreement that would preclude you from working for the Company.  You understand that throughout your employment with the Company and upon termination, you are required to fully disclose to the Company any instances of actual or possible regulatory violations by the Company or its affiliates of which you are or become aware.

 

7.              Company Property.  During your employment with the Company, you may be given access to Company Property.  “Company Property” means all property, whether intangible or tangible, that belongs to the Company or any of its affiliates (including, but not limited to, CoreSite Realty Corporation and CoreSite, L.P.), including, but not limited to, trade secrets, work product, drawings, blueprints, reports, computer programs, customer lists, prospect lists, forms, manuals, records, correspondence, contracts, notes, memoranda, notebooks and other documents of the Company, software media, equipment, and all other materials relating in any way to the Company’s business.  By signing below and accepting this offer of employment, you agree that, during your employment and after its termination, you will not use any Company Property for any purpose other than for the benefit of the Company.  Except for business uses related to the performance of your job, you will not remove from Company premises any Company Property without the prior written consent of your supervisor. You further agree that you will not during,

 

 

or at any time after the termination of your employment with the Company, disclose or divulge to others, including future employers, any trade secrets, confidential information, or other proprietary information of the Company, in whatever form.

 

You also agree that upon the termination of your employment with the Company, you will return to the Company all Company Property obtained by you during the course of your employment with the Company.  You agree that you will not keep any Company Property, including, but not limited to, any electronic copies or notes related in any way to such Company Property.

 

8.              Name & Likeness Rights, etc.  By signing this letter, you authorize the Company to use, reuse, and to grant others the right to use and reuse your name, photograph, likeness (including caricature), voice, and biographical information, and any reproduction or simulation thereof, in any media now known or hereafter developed (including but not limited to film, video, and digital, or other electronic media), both during and after your employment, for whatever purposes the Company deems necessary.

 

9.              Background Verification and Drug Screen.  The Company utilizes the services of Sterling Infosystems for background verification services.  Background verification may include review of your criminal and credit history.  While criminal background and/or poor credit history are not an automatic bar to employment, the Company reserves the right to withdraw this offer of employment or discontinue your employment, in its sole discretion, contingent upon the final background check results and in accordance with applicable law.

 

In addition, the Company requires that you undergo a drug screen.  Failure to pass this drug screen will result in withdrawal of this offer of employment in accordance with applicable law.

 

10.                               Severance and Change in Control Program.   You will be entitled to receive the benefits of, and will be subject to the obligations set forth under, the CoreSite Realty Corporation and CoreSite, L.P. Senior Management Severance and Change in Control Program, a copy of which is provided herewith (the “Severance and Change in Control Program”).  Execution of the Participation Letter Agreement attached as Exhibit A to the Severance and Change in Control Program acknowledging your participation is a condition of your employment.

 

11.                               Entire Agreement.  This letter (including the Severance and Change of Control Program and an Indemnification Agreement) contains all agreements, understandings, and arrangements between you and the Company and no other agreements, understandings or arrangements exists.  All previous agreements, understandings, and arrangements, if any, between you and the Company relating to your employment are terminated by this letter and are hereby null and void.  This letter may be amended, waived, changed, modified, extended or rescinded only by a writing signed by both you and the Company.

 

12.                               At-Will Employment: The Company is an at-will employer, which means that your employment with the Company may be terminated by you or the Company at any time and for any reason, with or without notice or cause. This “at will” employment relationship may not be modified by any oral or implied agreement.

 

13.                               Immigration Reform and Control Act of 1986. The Company complies with the Immigration Reform and Control Act of 1986, as well as applicable state law, and therefore will need you to verify your eligibility for employment.  A list of acceptable documents can be found in your new hire paperwork.  If you do not provide the required documentation, by law, the Company cannot permit you to begin work.  Therefore, please be prepared to provide any documents required to verify your identity and eligibility to work in the United States.

 

Please indicate your acceptance of this offer by signing on the appropriate space indicated below, and faxing or e-mailing your signed letter to 877.296.8110 or Veena.Bricker@coresite.com, no later than January 8, 2014.

 

Please do not hesitate to reach out to me or Jarrett if you have any questions. Welcome to the CoreSite team!

 

 

Sincerely,

 

Veena Bricker

 

Veena Bricker

Vice President of Human Resources, CoreSite

 

I accept employment with the Company subject to the terms set forth in this letter.  I understand that my employment with the Company is at-will, and may be terminated by me or the Company at any time for any reason, with or without notice:

 

 

	
 
    	
 
    	
 
    
	
Steven   J Smith
    	
 
    	
Date
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Approved by CoreSite (Following receipt of signed   acceptance by employee)
    
	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Veena   Bricker
    	
 
    	
DateEX-4.1

 Exhibit 4.1 
  

 
 . ZQ|CERT#|COY|CLS|RGSTRY|ACCT#|TRANSTYPE|RUN#|TRANS# 8.75% SERIES D CUMULATIVE 8.75% SERIES D CUMULATIVE
REDEEMABLE PERPETUAL REDEEMABLE PERPETUAL MRPO ADD ADD ADD ADD PREFERRED SHARES PREFERRED SHARES 432 1 A THIS CERTIFICATE IS TRANSFERABLE IN BOX PAR VALUE $1.00 CANTON, MA, NEW YORK, NY AND TSAKOS Certificate This Certificate and the shares
represented hereby are issued and shall be held COLLEGE STATION, TX Shares DESIGNATION SAMPLE 43004, subject to all the provisions of the Memorandum of Association and * * 000000 ****************** (IF Number Bye-laws of the Corporation and the
Certificate of Designation related to the * * * 000000 ***************** ANY) ZQ00000000 8.75% Cumulative Redeemable Perpetual Preferred Shares -- Series D and the amendments from time to time made thereto. **** 000000 **************** Providence,
ENERGY TSAKOS ENERGY NAVIGATION LIMITED ***** 000000 *************** RI ****** 000000 ************** INCORPORATED UNDER THE LAWS OF BERMUDA ** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr.
Alexander David Sample **** Mr. Alexander David Sample 02940 **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David - THIS CERTIFIES THAT Sample ****
Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. MR. Alexander David SAMPLE Sample **** Mr. Alexander David &Sample MRS. **** Mr.
Alexander SAMPLE David Sample **** Mr. Alexander & David Sample **** Mr. 3004 Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr Alexander David Sample **** Mr. Alexander David Sample **** CUSIP G9108L
14 0 Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David
Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander MR. David Sample SAMPLE **** Mr. Alexander David Sample **** &Mr. Alexander MRS. David Sample SAMPLE **** Mr. Alexander David Sample **** Mr. Alexander SEE
REVERSE FOR CERTAIN DEFINITIONS NAVIGATION David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample
**** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Sample **** Mr.
Sample is the owner of **000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares***
*000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****
000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****0
00000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****00 ***ZERO HUNDRED THOUSAND
0000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000
000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****0000
00**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****00000
0**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000 ZERO HUNDRED AND ZERO***
**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000*
*Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**
Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**S FULLY-PAID AND NON-ASSESSABLE SHARES OF 8.75% SERIES D CUMULATIVE REDEEMABLE PERPETUAL PREFERRED SHARES
OF Total DTC TSAKOS ENERGY NAVIGATION LIMITED (hereinafter called the “Company”), transferable on the books of the Company by the holder hereof in person or by duly authorized attorney, upon surrender of this Certificate properly Holder
CUSIP Number Certificateof Insurance ID endorsed. This Certificate is not valid unless countersigned and registered by the Transfer Agent and Registrar. Value Witness the facsimile seal of the Company and the facsimile signatures of its duly
authorized officers. Transaction 1234567890/1234567890 1234567890/1234567890 1234567890/1234567890 1234567890/1234567890 1234567890/1234567890 1234567890/1234567890 Numbers Shares DATED DD-MMM-YYYY NERGY N COUNTERSIGNED AND REGISTERED: E AV I Num/No
12345678901234512345678 President & Chief Executive Officer O S GA COMPUTERSHARE TRUST COMPANY, N.A. Denom. A K T I TRANSFER AGENT AND REGISTRAR, S O N 666 555 444 333 222 111 T XXXXXX BERMUDA Total. 7 00.1,000,000 XX 123456 XXXXXXXXXX X By
Chairman of the Board AUTHORIZED SIGNATURE 1234567 

 

 
 TSAKOS ENERGY NAVIGATION LIMITED TSAKOS ENERGY NAVIGATION LIMITED WILL FURNISH WITHOUT CHARGE TO EACH SHAREHOLDER WHO SO REQUESTS, A
SUMMARY OF THE POWERS, DESIGNATIONS, PREFERENCES AND RELATIVE, PARTICIPATING, OPTIONAL OR OTHER SPECIAL RIGHTS OF EACH CLASS OF SHARES OF THE COMPANY AND THE QUALIFICATIONS, LIMITATIONS OR RESTRICTIONS OF SUCH PREFERENCES AND RIGHTS, AND THE
VARIATIONS IN RIGHTS, PREFERENCES AND LIMITATIONS DETERMINED FOR EACH SERIES, WHICH ARE FIXED BY THE MEMORANDUM OF ASSOCIATION AND BYELAWS OF TSAKOS ENERGY NAVIGATION LIMITED, AND THE RESOLUTIONS OF THE BOARD OF DIRECTORS OF TSAKOS ENERGY NAVIGATION
LIMITED, THE CERTIFICATE OF DESIGNATIONS FOR CERTAIN SERIES AND THE AUTHORITY OF THE BOARD OF DIRECTORS TO DETERMINE VARIATIONS FOR FUTURE SERIES. SUCH REQUEST MAY BE MADE TO THE OFFICE OF THE SECRETARY OF TSAKOS ENERGY NAVIGATION LIMITED OR TO THE
TRANSFER AGENT. THE BOARD OF DIRECTORS MAY REQUIRE THE OWNER OF A LOST OR DESTROYED SHARE CERTIFICATE, OR HIS LEGAL REPRESENTATIVES, TO GIVE TSAKOS ENERGY NAVIGATION LIMITED A BOND TO INDEMNIFY IT AND ITS TRANSFER AGENTS AND REGISTRARS AGAINST ANY
CLAIM THAT MAY BE MADE AGAINST THEM ON ACCOUNT OF THE ALLEGED LOSS OR DESTRUCTION OF ANY SUCH CERTIFICATE. The following abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they were written out
in full according to applicable laws or regulations: TEN COM - as tenants in common UNIF GIFT MIN ACT -............................................Custodian (Cust) (Minor) TEN ENT - as tenants by the entireties under Uniform Gifts to Minors Act
(State) JT TEN - as joint tenants with right of survivorship UNIFTRF MIN ACT -............................................Custodian (until age ................................) and not as tenants in common (Cust) .............................under
Uniform Transfers to Minors Act (Minor) (State) Additional abbreviations may also be used though not in the above list. PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE For value received, ____________________________hereby
sell, assign and transfer unto ________________________________________________________________________________________________________________________________ (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING POSTAL ZIP CODE, OF ASSIGNEE)
________________________________________________________________________________________________________________________________
________________________________________________________________________________________________________________________________ _______________________________________________________________________________________________________________________
Shares of the capital stock represented by the within Certificate, and do hereby irrevocably constitute and appoint _______________________________________________________________________________________________________________________ Attorney to
transfer the said stock on the books of the within-named Company with full power of substitution in the premises. Dated: __________________________________________20__________________ Signature(s) Guaranteed: Medallion Guarantee Stamp THE
SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (Banks, Stockbrokers, Savings and Loan Associations and Credit Unions) WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15.
Signature: ____________________________________________________________ Signature: ____________________________________________________________ Notice: The signature to this assignment must correspond with the name as written upon the face of the
certificate, in every particular, without alteration or enlargement, or any change whatever. The IRS requires that we report the cost basis of certain shares acquired after January 1, 2011. If your shares were covered by the legislation and you have
sold or transferred the shares and requested a specific cost basis calculation method, we have processed as requested. If you did not specify a cost basis calculation method, we have defaulted to the first in, first out (FIFO) method. Please visit
our website or consult your tax advisor if you need additional information about cost basis. If you do not keep in contact with us or do not have any activity in your account for the time periods specified by state law, your property could become
subject to state unclaimed property laws and transferred to the appropriate state. 1234567

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