SEC Contract Filing

Filing Date: 2018-05-08

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>vslr-ex102_172.htm
<DESCRIPTION>EX-10.2
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vslr-ex102_172.htm
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<p style="text-align:right;margin-top:0pt;margin-bottom:0pt;font-weight:bold;font-size:11pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;text-indent:0%;">Exhibit 10.2</p>
<p style="text-align:center;margin-top:11pt;margin-bottom:0pt;font-weight:bold;font-size:11pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;text-indent:0%;">VIVINT SOLAR, INC.</p>
<p style="text-align:center;margin-top:11pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:11pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">INVOLUNTARY TERMINATION PROTECTION AGREEMENT</p>
<p style="text-align:justify;margin-top:11pt;margin-bottom:0pt;text-indent:7.69%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">THIS INVOLUNTARY TERMINATION PROTECTION AGREEMENT (this &#8220;<font style="font-weight:bold;font-style:italic;">Agreement</font>&#8221;)&#160;is made and entered into by and between Bryan Christiansen (&#8220;<font style="font-weight:bold;font-style:italic;">Executive</font>&#8221;)&#160;and Vivint Solar, Inc. (the &#8220;<font style="font-weight:bold;font-style:italic;">Company</font>&#8221;), effective as of June 17, 2016 (the &#8220;<font style="font-weight:bold;font-style:italic;">Effective Date</font>&#8221;).</p>
<p style="text-align:center;margin-top:11pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:11pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">RECITALS</font></p>
<p style="text-align:justify;margin-top:11pt;margin-bottom:0pt;text-indent:7.69%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Board of Directors of the Company (the &#8220;<font style="font-weight:bold;font-style:italic;">Board</font>&#8221;)&#160;believes that it is in the best interest of the Company and its stockholders to assure that the Company shall have the continued dedication and objectivity of Executive, to provide Executive with an incentive to continue Executive&#8217;s employment with the Company, and to motivate Executive to maximize the value of the Company for the benefit of its stockholders.</p>
<p style="text-align:justify;margin-top:11pt;margin-bottom:0pt;text-indent:7.69%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Board believes that it is important to provide Executive with certain severance benefits upon Executive&#8217;s termination of employment under certain circumstances. These benefits shall provide Executive with enhanced financial security and incentive and encouragement to remain with the Company.</p>
<p style="text-align:center;margin-top:11pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:11pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">AGREEMENT</font></p>
<p style="text-align:justify;margin-top:11pt;margin-bottom:0pt;text-indent:7.69%;font-weight:bold;font-style:italic;font-size:11pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">NOW, THEREFORE<font style="font-weight:normal;font-style:normal;">, for good and valuable consideration, including the mutual covenants contained herein, the Company and Executive hereby agree as follows:</font></p>
<p style="text-align:justify;margin-top:11pt;margin-bottom:0pt;text-indent:7.69%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Term of Agreement</font>. This Agreement shall terminate upon the date that all of the obligations of the parties hereto with respect to this Agreement have been satisfied.</p>
<p style="text-align:justify;margin-top:11pt;margin-bottom:0pt;text-indent:7.69%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">At-Will Employment</font>. The Company and Executive acknowledge that Executive&#8217;s employment is and shall continue to be at-will, as defined under applicable law. If Executive&#8217;s employment terminates for any reason, including (without limitation)&#160;any termination for Cause, Executive shall not be entitled to any payments, benefits, damages, awards or compensation other than as provided by this Agreement or as may otherwise be available in accordance with the Company&#8217;s established employee plans that provide benefits other than in the nature of severance or separation pay. </p>
<p style="text-align:justify;margin-top:11pt;margin-bottom:0pt;text-indent:7.69%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_Ref391050574"></a>3.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Severance Benefits</font>.</p>
<p style="text-align:justify;margin-top:11pt;margin-bottom:0pt;text-indent:15.38%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(a)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Voluntary Resignation; Termination for Cause</font>. If Executive&#8217;s employment with the Company terminates (i)&#160;voluntarily by Executive other tha