(the "Company") is pleased to offer the position of . This letter summarizes the key terms: Sections 1.(a), 1.(b) and 1.(c).
Your base salary will be per year, paid on 's normal payroll schedule and subject to all withholdings required by law.1 Salary is reviewed annually as part of the process described in Section 1..
{{#equity.options}}Subject to approval by 's Board of Directors, you will be granted an option to purchase shares of at a strike price equal to fair market value on the date of grant. The option will vest over .
Your option will be granted in tranches, shares in all:
{{#grants}}{{/grants}}| Grant date | Shares |
|---|---|
{{/equity.options}}{{^equity.options}}This offer includes no stock option component.
{{/equity.options}}{{#equity.restricted_stock}}Subject to Board approval, you will be granted the right to purchase shares of under a Restricted Stock Purchase Agreement, vesting over .
{{/equity.restricted_stock}}Tax treatment is your responsibility; see also your cash compensation 1.(a).
Your employment with is at will: either you or the Company may end it at any time, with or without cause. Nothing in Section 1.(a) or Section 1.(b) changes that.
To accept, sign below by .
| Accepted and agreed: | |
| Signature: _________________________ | Signature: _________________________ |
{{#manager}}Name: (){{/manager}} | Name: |
| Date: | Date: |
Please retain a copy of this letter for your records; the terms in Sections 1.(a), 1.(b) and 1.(c) are the entire agreement.
Including any deductions you authorize in writing. ↩