SEC Contract Filing

Filing Date: 2018-09-07

Document Content:
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<TYPE>EX-10.2
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<DESCRIPTION>EX-10.2
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.2 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">September&nbsp;6, 2018 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Bret Richter </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">MSG Networks Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Eleven Pennsylvania Plaza </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York, NY 10121 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Bret: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This letter agreement (the &#147;Agreement&#148;),
effective as of September&nbsp;1, 2018 (the &#147;Effective Date&#148;), will confirm the terms of your continued employment with MSG Networks Inc. (the &#147;Company&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1. Your title will be Executive Vice President, Chief Financial Officer&nbsp;&amp; Treasurer and you will report to the President&nbsp;&amp; Chief Executive
Officer of the Company. You agree to continue to devote substantially all of your business time and attention to the business and affairs of the Company and to perform your duties in a diligent, competent, professional and skillful manner and in
accordance with applicable law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2. As of the Effective Date, your annual base salary will be increased to not less than $750,000 annually, paid <FONT
STYLE="white-space:nowrap">bi-weekly,</FONT> subject to annual review and potential increase by the Compensation Committee of the Board of Directors of the Company (the &#147;Compensation Committee&#148;) in its discretion. The Compensation
Committee will continue to review your compensation package on an annual basis to ensure that you are paid consistently with other similarly situated executives as well as external peers. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">3. You will also continue to participate in our discretionary annual bonus program with an annual target bonus opportunity equal to not less than 100% of your
then annual base salary. Bonus payments are based on actual salary dollars paid during the fiscal year and depend on a number of factors including Company, unit and individual performance. However, the decision of whether or not to pay a bonus, and
the amount of that bonus, if any, is made by the Compensation Committee in its sole discretion. Annual bonuses are typically paid early in the subsequent fiscal year. Except as otherwise provided herein, in order to receive a bonus, you must be
employed by the Company at the time bonuses are being paid. Notwithstanding the foregoing, if your employment with the Company ends on the Scheduled Expiration Date (as defined below), you shall be paid your bonus for the fiscal year ending
June&nbsp;30, 2021, if any, even if such payment is not made to you prior to the Scheduled Expiration Date, which bonus shall be subject to Company and your business unit performance for that fiscal year as determined by the Company in its sole
discretion, but without adjustment for your individual performance. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">4. You will also continue, subject to your continued employment by the Company and
actual grant by the Compensation Committee, to participate in such equity and other long-term incentive programs that are made available in the future to similarly situated executives at the Company. It is expected that such awards will consist of
annual grants of cash and/or equity awards with an annual target value of not less than $1,200,000, all as determined by the Compensation Committee in its discretion. All awards described in this Paragraph, in addition to being subject to actual
grant by the Compensation Committee, would be pursuant to the applicable plan document and would be subject to any terms and conditions established by the Compensation Committee </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>MSG Networks Inc. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>ELEVEN PENNSYLVANIA PLAZA &#150; 3<SUP STYLE="font-size:85%; vertical-align:top">rd</SUP> Floor, NEW YORK, NY 10001 </B></P>

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Mr.&nbsp;Bret Richter </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Page 2 </P>
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in its sole discretion that would be detailed in separate agreements you would receive after any award is actually made; provided, however, that such terms and conditions shall be consistent wit