Exhibit 10.16
AGREEMENT
THIS AGREEMENT (“Agreement”) is made and entered into by and between MicroStrategy Services Corporation (“MicroStrategy”) and Kevin Adkisson (“Employee”).
WHEREAS, effective July 5, 2023, Employee ceased to serve as Chief Revenue Officer and an executive officer of MicroStrategy; and
WHEREAS, subject and pursuant to the terms and conditions hereof, Employee and MicroStrategy have agreed that Employee’s employment with MicroStrategy and/or with any of its subsidiaries, affiliates or related companies (together, the “Company”) will continue until 11:59 p.m. on July 31, 2023 (the “Termination Date”), at which time Employee’s employment will end (unless Employee in his discretion chooses to resign his employment prior to that date, in which event the Termination Date becomes the date described in Section 2(b)(iii) of this Agreement);
WHEREAS, Employee and the Company desire to enter into the following Agreement to resolve all issues between them including, but not limited to, those relating to Employee’s employment with the Company, and the termination thereof; and
WHEREAS, Employee wishes to receive, and the Company has offered to provide, valuable consideration in exchange for execution by Employee of this Agreement;
NOW THEREFORE, in consideration of the payments and benefits listed below, and provided by the Company, Employee agrees to all of the following:
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Initialed: Company ___ Employee ____ (to be initialed only if Employee resides or works in the State of Georgia)
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SIGNATURE PAGES (1 of 2)
INSTRUCTIONS
• You may not make any changes to this Agreement. • You must (1) initial each page, sign, and date this Agreement where indicated below, and (2) return the original fully executed Agreement so that it is received by Joty Paparello at MicroStrategy Incorporated, 1850 Towers Crescent Plaza, Tysons Corner, VA 22182 by July 12, 2023. If you reside or work in the State of Georgia, you also must initial in the space provided at the end of Section 17 (titled “Dispute Resolution”) of this Agreement. You may submit the Agreement by email to Joty Paparello ([***]) to meet the deadline, but if you do so and you signed with an ink signature, you must also provide the original executed agreement by mail thereafter.
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SIGNATURE PAGES (2 of 2)
Please read this Agreement carefully. It contains a release of all known and unknown, suspected and unsuspected claims.
Acknowledged and Agreed:
KEVIN ADKISSON
/s/ Kevin Adkisson 7/10/2023
Employee’s Signature Date
for MICROSTRATEGY services corporation
/s/ Jeanine Montgomery 7/12/2023
Jeanine Montgomery Date
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CONFIRMATION OF AGREEMENT
Employee acknowledges and agrees that the consideration described in Subsections 2(a)(iii) and 2(b) of the Agreement to which this Confirmation of Agreement is attached (the “Agreement”) will be due to Employee only if, after having timely signed and returned the Agreement, Employee then signs this Confirmation of Agreement on, but not before, the date immediately following the Termination Date (or, if the Termination Date occurs prior to July 31, 2023 due to Employee’s resignation, by July 31, 2023), and the revocation period hereof expires without Employee revoking his signature.
Employee acknowledges and agrees that by signing and not revoking this Confirmation of Agreement, Employee is updating the Agreement to (1) make all relevant acknowledgements, representations, and agreements current through the date Employee first executed the Agreement be current through the date Employee executes this Confirmation of Agreement; and (2) waive any and all claims, as provided in Subsection 1(a), that may have accrued between Employee’s execution of the Agreement and Employee’s execution of this Confirmation of Agreement, including any claim set forth in Subsection 1(c) of the Agreement and except as provided in Subsections 1(d) and 1(f) thereof.
Further, by executing and not revoking this Confirmation of Agreement, in addition to those claims detailed in Subsection 1(c) of the Agreement that are hereby being released, Employee waives any rights or claims against any Released Party as follows:
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SIGNATURE Instructions
• You may not make any changes to this Confirmation of Agreement, and you may not sign this Confirmation of Agreement until the date immediately following the Termination Date (which is July 31, 2023 or, if you advanced the Termination Date pursuant to Subsection 2(a)(iii), then is such earlier Termination Date). • After you have signed and dated this Confirmation of Agreement, if you signed using a wet ink signature, you must return it so that it is received by Joty Paparello at MicroStrategy Incorporated, 1850 Towers Crescent Plaza, Tysons Corner, VA 22182 within five (5) business days of the date on which you signed it. You may submit the Confirmation of Agreement by email ([***]) to meet the deadline, but if you do so, you must also provide the original executed agreement by mail thereafter. • You have seven (7) days after signing this Confirmation of Agreement in which to revoke it. Any revocation may be submitted in writing to Joty Paparello by email ([***]). Provided this Confirmation of Agreement is not revoked, it will take effect after the seven-day revocation period has ended.
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Please read THIS confirmation of agreement carefully. IT containS releases of all known and unknown, suspected and unsuspected claims.
Executed, Acknowledged and Agreed:
/s/ Kevin Adkisson 8/1/2023
Employee’s Signature Date
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