SEC Contract Filing

Filing Date: 2016-05-05

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>mrv-exx101x2016q1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<div><a name="sf44f79c9582e42b2a866cdb5345e28a6"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">Exhibit&#160;10.1</font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;font-weight:bold;">MRV COMMUNICATIONS, INC.</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;font-weight:bold;">CHANGE IN CONTROL AGREEMENT</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">AGREEMENT made as of the 5</font><font style="font-family:Arial;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">th</sup></font><font style="font-family:Arial;font-size:10pt;">&#32;day of May, 2016, by and between MRV COMMUNICATIONS, INC. (the &#8220;Company&#8221;) and Stephen G. Krulik (the &#8220;Employee&#8221;).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">WHEREAS, the Company considers it essential to the best interests of its stockholders to foster the continued employment of key management personnel; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">WHEREAS, the Company has determined that appropriate steps should be taken to reinforce and encourage the continued attention and dedication of members of the Company&#8217;s management, including the Employee, to their assigned duties without distraction;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">NOW, THEREFORE, the Company and the Employee agree as follows:</font></div><div style="line-height:120%;padding-left:48px;text-align:justify;text-indent:0px;"><font style="text-align:justify;font-family:Arial;font-size:10pt;padding-right:48px;">1.</font><font style="font-family:Arial;font-size:10pt;text-decoration:underline;">Definitions</font><font style="font-family:Arial;font-size:10pt;">. For the purposes of this Agreement, the following terms shall have the meanings ascribed to them below.</font></div><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-left:0px;text-align:justify;text-indent:48px;"><font style="text-align:justify;font-family:Arial;font-size:10pt;padding-right:48px;">(a)</font><font style="font-family:Arial;font-size:10pt;">&#8220;Cause&#8221; means (a)&#160;if there is an employment or other services agreement between the Employee and the Company or a subsidiary that defines the term "cause" (or a term of like import), the Employee&#8217;s engaging in conduct that constitutes "cause" (or a term of like import) within the meaning of that agreement, or (b)&#160;if there is no employment or other services agreement between the Employee and the Company or a subsidiary that defines the term "cause" (or a term of like import), (1)&#160;the Employee&#8217;s repeated failure (other than temporarily while physically or mentally incapacitated) or refusal to perform the duties of his or her employment or other service if such failure or refusal shall not have ceased or been remedied within fifteen days following written warning from the Company or a subsidiary; (2)&#160;the Employee&#8217;s conviction of or plea of no contest to a felony; (3)&#160;the Employee&#8217;s breach of a fiduciary trust (including, without limitation, misappropriation of funds, material misrepresentation (other than as a result of a good faith mistake) of the Company's financial performance, operating results or financial condition to the Board or any officer, use of the Company's or a subsidiary's assets to pursue other interests, or diversion of any business opportunity belonging to the Company or a subsidiary to or for the benefit of the Employee or a third party); (4)&#160;material unauthorized disclosure by the Employee to any person of any confidential information or trade secrets of the Company or any of its subsidiaries; (5)&#160;the Employee&#8217;s engaging in conduct or activities materially damaging to the property, business or reputation of the Company or a subsidiary or to the ability of the Employee to perform the duties of his or her employment or other services; (6)&#160;any act or omission by the Employee involving gross malfeasance or gross negligence in the performance of the Employee&#8217;s duties to the material detriment of the Company or a subsidiary; or (7)&#160;the Employee&#8217;s failure to comply in all material respects with the policies of the Company or a subsidiary or with any non-competition, non-solicitation or other restrictive covenants made by