{"id":40375,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/retention-agreement-storage-technology-corp-and-robert-s.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"retention-agreement-storage-technology-corp-and-robert-s","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/retention-agreement-storage-technology-corp-and-robert-s.html","title":{"rendered":"Retention Agreement &#8211; Storage Technology Corp. and Robert S. Kocol"},"content":{"rendered":"<pre>\nJuly 31, 2000\n\nMr. Robert S. Kocol\n577 Manorwood Lane\nLouisville, Colorado 80027\n\n                  RE: Extension to Retention Agreement\n\nDear Bobby:\n\nYour  Retention  Agreement  dated January 27, 2000 (the  \"Retention  Agreement\")\nprovides  that you will  remain an employee  of Storage  Technology  Corporation\n(\"StorageTek\") through at least July 31, 2000 (the \"Termination Date\" as defined\nin the  Retention  Agreement).  This letter will confirm our agreement to extend\nthe Termination  Date of your employment with StorageTek until at least December\n31, 2000 (the \"New  Termination  Date\")  pursuant to the terms of the  Retention\nAgreement (said extension interval to be called the \"Extension Period\").  Unless\nspecifically  modified in this  letter,  all other terms and  conditions  in the\nRetention Agreement will remain in effect.\n\nAs further consideration for the expansion of your current  responsibilities and\nthe extension of your employment with the StorageTek through the New Termination\nDate,  StorageTek  will pay you (i) an additional  cash payment in the amount of\n$50,000.00  within  fifteen  working  days  of the  date  hereof,  and  (ii)  an\nadditional  payment  in the  amount  of  $50,000.00,  within  30 days of the New\nTermination  Date.  This additional  consideration  is subject to same terms and\nconditions as outlined in the \"Separation  Payment\"  paragraph of your Retention\nAgreement, and will be paid to you in addition to the amounts stated therein.\n\nYou  further  agree  and  acknowledge  that you will  have 90 days  from the New\nTermination  Date to exercise  any of your stock  options that are vested on the\nNew Termination Date.  However,  should your  responsibilities as an employee of\nthe StorageTek during the Extension Period render you ineligible to trade in the\nStorageTek's  stock due to your possession of \"material  inside  information\" on\nthe New  Termination  Date,  you and the  StorageTek  may agree to enter  into a\nconsulting  agreement  for a period of time not to exceed 90 days,  during which\ntime all stock options (i) which were granted to you under the  StorageTek  1995\nEquity  Participation Plan, and (ii) which were vested and exercisable by you on\nthe New  Termination  Date will  remain  exercisable  by you for the term of the\nconsulting period and for a period of 90 days thereafter.\n\nAll terms of your Retention Agreement remain in full force with the exception of\nthe above revisions.\n\nPlease sign both copies of this letter below,  indicating your  acceptance,  and\nreturn one copy for our files.\n\nAccepted and Agreed:                            StorageTek:\n\n\/s\/ Robert S. Kocol                     \/s\/ Patrick J. Martin\n-----------------                         ---------------------\nRobert S. Kocol                                 Patrick J. Martin\n                                                Chairman, President and\nChief Executive Officer\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[8959],"corporate_contracts_industries":[9508],"corporate_contracts_types":[9539,9544],"class_list":["post-40375","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-storage-technology-corp","corporate_contracts_industries-technology__hardware","corporate_contracts_types-compensation","corporate_contracts_types-compensation__employment"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/40375","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=40375"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=40375"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=40375"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=40375"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}