SEC Contract Filing

Filing Date: 2022-01-25

Document Content:
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<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>src-ex102_43.htm
<DESCRIPTION>EX-10.2
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<p style="text-align:center;margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">SPIRIT REALTY CAPITAL, INC.</p>
<p style="text-align:center;margin-bottom:24pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">EMPLOYMENT AGREEMENT</font></p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">This <font style="font-weight:bold;">EMPLOYMENT AGREEMENT</font> (this &#8220;<font style="text-decoration:underline;">Agreement</font>&#8221;), dated as of January 24, 2022, is entered into by and between Spirit Realty Capital, Inc., a Maryland corporation (including any successors and/or assigns, the &#8220;<font style="text-decoration:underline;">Company</font>&#8221;) and Rochelle Thomas (the &#8220;<font style="text-decoration:underline;">Employee</font>&#8221;).</p>
<p style="text-align:center;margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">RECITALS</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS<font style="font-weight:normal;">, the Company employs Employee as Senior Vice President, Deputy General Counsel of the Company;</font></p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS<font style="font-weight:normal;">, the Company desires to continue to employ the Employee as Executive Vice President, General Counsel and Secretary of the Company; and</font></p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS<font style="font-weight:normal;">, the Employee desires to accept such employment and service with the Company, subject to the terms and conditions of this Agreement.</font></p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">NOW, THEREFORE<font style="font-weight:normal;">, in consideration of the foregoing, of the mutual promises contained herein and of other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:</font></p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-weight:bold;font-style:normal;color:#000000;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">1.</font><font style="font-weight:normal;margin-left:36pt;color:#000000;"></font><font style="color:#000000;">EMPLOYMENT TERM</font><font style="font-weight:normal;color:#000000;">.&nbsp;&nbsp;The Company agrees to employ the Employee pursuant to the terms of this Agreement, and the Employee agrees to be so employed, for a term commencing on January 24, 2022 (the &#8220;</font><font style="text-decoration:underline;color:#auto;font-size:11pt;font-family:Calibri;font-weight:normal;">Effective Date</font><font style="font-weight:normal;color:#000000;">&#8221;) and ending on January 24, 2025.&nbsp;&nbsp;On January 24, 2025, and on each anniversary thereof, the term of this Agreement shall be automatically extended for successive one (1)-year periods; provided, however, that the Company, on the one hand, or the Employee, on the other hand, may elect not to extend this Agreement by giving written notice to the other party at least thirty (30) days prior to any such anniversary date.&nbsp;&nbsp;Notwithstanding the foregoing, the Employee&#8217;s employment hereunder may be earlier terminated in accordance with </font><font style="text-decoration:underline;font-weight:normal;color:#000000;">Section 6</font><font style="font-weight:normal;color:#000000;"> hereof, subject to the provisions of </font><font style="text-decoration:underline;font-weight:normal;color:#000000;">Section 7</font><font style="font-weight:normal;color:#000000;"> hereof.&nbsp;&nbsp;The period of time between the Effective Date and the termination of the Employee&#8217;s employment hereunder shall be referred to herein as the &#8220;</font><font style="text-decoration:underline;font-weight:normal;color:#000000;">Employment Term</font><font style="font-weight:normal;color:#000000;">.&#8221;</font></p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-weight:bold;font-style:normal;color:#000000;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">2.</font><font style="font-weight:normal;margin-left:36pt;color:#000000;"></font><font style="color:#000000;">POSITION AND DUTIES</font><font style="font-weight:normal;color:#000000;">.</font></p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:15.38%;font-weight:normal;font-style:normal;