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	900 Main Campus Drive 
Suite 100
Raleigh, NC 27606
919-297-1100  (tel)  
919-882-1438 (fax)      

January 18, 2021

Chris Matton
[***]
Dear Chris:
I reluctantly accepted your prior resignation as General Counsel and Secretary of Bandwidth Inc. (“Bandwidth”), effective as of March 31, 2021.  Thank you for your extraordinary service to Bandwidth as General Counsel and Secretary.  Bandwidth would not have achieved what we have achieved together without your sage advice, energy, and leadership.  
This letter, upon your signature, will be the agreement (the “Letter Agreement”) between you and Bandwidth Inc. on the terms of your transition from Bandwidth:
1.Your Last Date of Employment And Related Matters.  Your last day of employment with the Company will be March 31, 2021 (the “Last Date of Employment”). Upon your Last Date of Employment, the Company will pay you for accrued, unused paid time off (vacation), less customary and applicable deductions, and no other forms of non-working paid time off benefits will be owed to you.  You will work with Bandwidth and Bandwidth’s executive team to transition your duties to appropriate Bandwidth team members through and until March 31, 2021; any assistance that you may provide after your Last Date of Employment will be entirely voluntary and will not affect Bandwidth’s obligations to you pursuant to this Letter Agreement. 
2.Payments to You.
Cash Payments.  In consideration of your acceptance of this Letter Agreement, Bandwidth agrees to pay you an aggregate of $317,680.08, representing twelve (12) months of your base pay, payable on a semi-monthly basis in the amount of $13,236.67, less customary and applicable deductions, in accordance with Bandwidth’s customary payroll practices, commencing on the period immediately following the Last Date of Employment.  
    In addition, Bandwidth will pay you an amount calculated to be equal to your anticipated 2020 bonus pursuant to Bandwidth’s 2020 “management by objective” (“MBO”) bonus plan, which will be an aggregate of $158,840.04.  This amount will be paid to you on or before February 28, 2021, less customary and applicable deductions.  
    In addition, Bandwidth will pay you an amount equal to twenty-five percent (25%) of your anticipated 2021 bonus pursuant to Bandwidth’s anticipated 2021 “management by 

Chris Matton
January 18, 2021
Page 2

objective” (“MBO”) bonus plan, which will be an aggregate of $39,710.01.  This amount will be paid to you on or before March 31, 2021, less customary and applicable deductions.  
    Healthcare Stipend.      Subject to the terms and conditions included herein, we will pay you a healthcare stipend in the amount of $1,975.00 per month to facilitate your purchase of healthcare coverage of your choice (including COBRA, as described below), payable on the last business day of each month.  These payments will begin on the last day of the month after your Last Date of Employment and conclude on the earlier of: (1) the last day of the calendar month one (1) year after your Last Date of Employment; or (2) your eligibility for healthcare benefits through the coverage of a new employer.  Bandwidth’s obligations to you pursuant to this paragraph will not exceed $23,700, however.  You must elect COBRA in a timely fashion to obtain the continuation of existing health insurance benefits coverage under Bandwidth’s existing plan(s).  You will be responsible for paying the COBRA benefits, if timely elected.
    Restricted Stock Units.  The Restricted Stock Units (as defined in Bandwidth’s 2017 Incentive Award Plan) previously granted to you on or about February 21, 2018, will be fully vested in their entirety as of your Last Date of Employment.  All other Restricted Stock Units previously granted to you will continue to vest through and until March 31, 2021; any Restricted Stock Units previously granted to you that would by their terms vest on or after April 1, 2021, will not vest and will be forfeited by their terms.
3.    Indemnification.  The Indemnification and Advancement Agreement entered into as of November 2017 will survive your Last Date of Employment in accordance with its terms.
Bandwidth and I thank you for everything that you have meant to Bandwidth’s success.  Neither Bandwidth nor I could have done it without you.
Sincerely,

/s/ David A. Morken
David A. Morken
Chief Executive Officer

ACKNOWLEDGED AND AGREED:

  /s/ Chris Matton     
Chris Mattonex101q12021

1  DM3\7373558.4  AMENDMENT NO. 1 TO EQUITY DISTRIBUTION AGREEMENTS  This Amendment No. 1 to Equity Distribution Agreements (this “Amendment”) is entered  into as of March 31, 2021, among:  (i) BRT Apartments Corp, Inc., a Maryland corporation (the “Company”); (ii) B. Riley Securities, Inc. (formerly B. Riley FBR, Inc.) (“B. Riley”); (iii) JMP Securities LLC (“JMP”); and (iv) D.A. Davidson & Co. (“DAD”; each of B. Riley, JMP and DAD, an “Agent” and together the “Agents”). RECITALS   WHEREAS, the Company and each Agent are parties those certain Equity Distribution  Agreements, each dated November 26, 2019 (each an “Original Agreement” and together the  “Original Agreements”);  WHEREAS, the Company appointed Ernst & Young, LLP as its auditor, effective June  18, 2020;  WHEREAS, all capitalized terms not defined herein shall have the meanings ascribed to  them in the Original Agreements;  NOW, THEREFORE, in consideration of the premises and the respective representations,  warranties, covenants and agreements herein contained and for other good and valuable  consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and  each Agent hereto hereby agree to amend each Original Agreement as follows:  1. All reference to “BDO USA, LLP” are amended and replaced with “Ernst & Young, LLP”.  2. The first sentence in Section 5 is hereby deleted and replaced with: “Except as disclosed in the Registration Statement or Prospectus (including the  Incorporated Documents), the Company represents and warrants to the Agent that as of  each Applicable Time (as defined below):”.  3. All references to “November 26, 2019” set forth in Schedule 1 and Exhibit 7(l) of the Original Agreements are revised to read “November 26, 2019 (as amended by Amendment No.  1, dated March 31, 2021)”.  4. In addition to the requirements under Section 9 of the Original Agreements, the Company agrees to pay the reasonable fees and disbursements of the Agents’ counsel in an amount  not to exceed $15,000 in connection with this Amendment No. 1 to Sales Agreement.   Exhibit 10.1 

 

DM3\7373558.4  5. Except as specifically set forth herein, all other provisions of the Original  Agreements shall remain in full force and effect.    6. This Amendment together with each Original Agreement (including all exhibits  attached hereto) constitutes the entire agreement among the Company and each Agent and  supersedes all other prior and contemporaneous agreements and undertakings, both written and  oral, among the parties hereto with regard to the subject matter hereof. Neither this Amendment  nor any term hereof may be amended except pursuant to a written instrument executed by the  Company and such Agent.  In the event that any one or more of the provisions contained herein,  or the application thereof in any circumstance, is held invalid, illegal or unenforceable as written  by a court of competent jurisdiction, then such provision shall be given full force and effect to the  fullest possible extent that it is valid, legal and enforceable, and the remainder of the terms and  provisions herein shall be construed as if such invalid, illegal or unenforceable term or provision  was not contained herein, but only to the extent that giving effect to such provision and the  remainder of the terms and provisions hereof shall be in accordance with the intent of the parties  as reflected in this Amendment. All references in each Original Agreement to the “Agreement”  shall mean such Original Agreement as amended by this Amendment; provided, however, that all  references to “date of this Agreement” in such Original Agreement shall continue to refer to the  date of such Original Agreement.    7. EACH OF THE COMPANY (ON ITS BEHALF AND, TO THE EXTENT  PERMITTED BY APPLICABLE LAW, ON BEHALF OF ITS STOCKHOLDERS AND  AFFILIATES) AND EACH AGENT HEREBY IRREVOCABLY WAIVES, TO THE FULLEST  EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY  JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS  AMENDMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.    8. THIS AMENDMENT AND ANY CLAIM, CONTROVERSY OR DISPUTE  ARISING UNDER OR RELATED TO THIS AMENDMENT SHALL BE GOVERNED BY,  AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF, THE STATE OF NEW YORK  WITHOUT REGARD TO ITS CHOICE OF LAW PROVISIONS.     9. Each of the Company and Agents agrees that any legal suit, action or proceeding  arising out of or based upon this Amendment or the transactions contemplated hereby (“Related  Proceedings”) shall be instituted in (i) the federal courts of the United States of America located  in the City and County of New York, Borough of Manhattan or (ii) the courts of the State of New  York located in the City and County of New York, Borough of Manhattan (collectively, the  “Specified Courts”), and irrevocably submits to the exclusive jurisdiction (except for proceedings  instituted in regard to the enforcement of a judgment of any Specified Court, as to which such  jurisdiction is non-exclusive) of the Specified Courts in any such suit, action or proceeding.  Service of any process, summons, notice or document by mail to a party’s address set forth in  Section 13 of respective Original Agreement, as amended by this Amendment, shall be effective  service of process upon such party for any suit, action or proceeding brought in any Specified  Court. Each of the Company and the Agent irrevocably and unconditionally waives any objection  to the laying of venue of any suit, action or proceeding in the Specified Courts and irrevocably and  unconditionally waives and agrees not to plead or claim in any Specified Court that any such suit,  action or proceeding brought in any Specified Court has been brought in an inconvenient forum.  

 

DM3\7373558.4    10. This Amendment may be executed in two or more counterparts, each of which shall  be deemed an original, but all of which together shall constitute one and the same instrument.  Delivery of an executed amendment by one party to the other may be made by facsimile  transmission or electronic transmission (e.g., PDF).      [Remainder of Page Intentionally Blank]  

 

     DM3\7373558.3  If the foregoing correctly sets forth the understanding between the Company and each  Agent, please so indicate in the space provided below for that purpose, whereupon this  Amendment shall constitute a binding amendment to the respective Original Agreement between  the Company and each Agent.    Very truly yours,      B. RILEY SECURITIES, INC.      By:_________________________________  Name: Patrice McNicoll  Title: Co-Head of Investment Banking        JMP SECURITIES LLC      By:_________________________________  Name:   Title:         D.A. DAVIDSON & CO.      By:_________________________________  Name:   Title:                               [Signature Page to Amendment No. 1]  

 

   If the foregoing correctly sets forth the understanding between the Company and each  Agent, please so indicate in the space provided below for that purpose, whereupon this  Amendment shall constitute a binding amendment to the respective Original Agreement between  the Company and each Agent.     Very truly yours,         B. RILEY SECURITIES, INC.         By:_________________________________   Name: Patrice McNicoll   Title: Co-Head of Investment Banking            JMP SECURITIES LLC         By:_________________________________   Name:  Eric Clark     Title:  Director           D.A. DAVIDSON & CO.         By:_________________________________   Name:    Title:                                              [Signature Page to Amendment No. 1]

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