SEC Contract Filing

Filing Date: 2022-02-25

Document Content:
<DOCUMENT>
<TYPE>EX-10.26
<SEQUENCE>2
<FILENAME>ccoi-20211231xex10d26.htm
<DESCRIPTION>EXHIBIT 10.26
<TEXT>
<!--Enhanced HTML document created with Toppan Merrill Bridge 9.11.0.85--><!--Created on: 2/23/2022 08:21:05 PM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title></title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 0pt 0pt 5.4pt;"><b style="font-weight:bold;">Exhibit 10.26</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 0pt 0pt 5.4pt;"><font style="margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 6pt 0pt;"><b style="font-weight:bold;">Severance Agreement</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 10pt 12.25pt;"><font style="display:inline-block;text-indent:0pt;width:17.6pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">1.</font></font>This agreement is entered into by Cogent Communications, Inc. (&#8220;Cogent&#8221;) and the executive employee signing this Agreement, below (&#8220;Executive&#8221;).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 10pt 12.25pt;"><font style="display:inline-block;text-indent:0pt;width:18.8pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">2.</font></font>As an inducement for Executive to focus his or her full efforts on Cogent&#8217;s business without undue concern for future employment the Compensation Committee of the Cogent Board of Directors has approved the following minimum severance provisions for Executive. This severance is not intended to reduce any severance arrangement provided for in Executive&#8217;s offer letter or other agreement. In any case in which such offer letter or other agreement provides a greater severance compensation with respect to cash payment or continuation of benefits Executive shall receive the greater cash payment or benefit.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 10pt 13.7pt;"><font style="display:inline-block;text-indent:0pt;width:16.85pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">3.</font></font>If Executive is terminated other than for Cause (as defined below) or Executive terminates his or her employment for Good Reason (as defined below), Executive shall continue to receive his or her salary (reduced by all mandatory withholdings for taxes or other governmentally required payments such as garnishments) for 6 months following the date of termination, i.e. Executive shall be paid through the 183rd day following the date of termination. However, if the termination follows a Change of Control (as defined below) such payment shall be made as a lump sum within 5 days of termination. Salary means Executive&#8217;s salary before voluntary withholdings and reductions (such as those for parking, 401(k) plan, medical, dental, and life insurance) and before mandatory withholdings for taxes and other governmentally required payments such as garnishments. At the election of Executive, the employee share of the cost of benefits (provided in paragraph 4) may be paid through a salary reduction agreement (in order to make such payments with pre-tax income). If the amount payable under this paragraph is less than the amount payable under Executive&#8217;s offer letter or other agreement no payment shall be made under this paragraph and Executive shall instead receive the payment provided for in the offer letter or other agreement.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 10pt 15.1pt;"><font style="display:inline-block;text-indent:0pt;width:18.15pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">4.</font></font>If Executive is terminated other than for Cause or Executive terminates his or her employment for Good Reason, Executive shall continue to receive through the last day of the sixth month following the month in which termination occurs health insurance, dental insurance, life insurance (to the extent paid by the company), and long term disability insurance. Cogent shall pay the company share of such benefits and Executive shall pay the employee share, e.g. the employee portion of the premium for health and dental insurance. The employee share and company share shall be the same as currently applicable to the benefits at the time of termination. If the value of the benefit under this paragraph is less than the benefit under Executive&#8217;s offer letter or other agreement no benefit shall be provided under this paragraph and Executive shall instead receive the benefit provided for in the offer letter or other agreement.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18.1pt;margin:0pt 0pt 0pt 15.95pt;"><font style="display:inline-block;text-indent:0pt;width:17.8pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">5.</font></font>For purposes of this agreement, Cogent shall have &#8220;Cause&#8221; to terminate the Executive&#8217;s employment hereunder (i) upon the Executive&#8217;s conviction for the commission of an