{"id":39138,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/employment-agreement-excite-home-and-mark-o-leary.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"employment-agreement-excite-home-and-mark-o-leary","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/employment-agreement-excite-home-and-mark-o-leary.html","title":{"rendered":"Employment Agreement &#8211; Excite@Home and Mark O&#8217;Leary"},"content":{"rendered":"<pre>\nDecember 9, 1999\n\n\nMark O'Leary\n106 Wild Oak Court\nDanville, CA  94506\n\n\nDear Mark,\n\nExcite@Home is pleased to offer you the position of Senior Vice President,\n@Work.  In this position, you will report to Adam Grosser, President, Subscriber\nNetwork. Your base salary will be an annual salary of $200,000. You will also be\neligible to participate in the Excite@Home Executive Incentive plan.  Your\nannual target incentive award is 25% of your base salary or $50,000 paid\nannually.\n\nYou will also be offered a one-time hiring bonus of $35,000 gross payable.\n$20,000 will be paid in your first regular paycheck.  The remaining $15,000 will\nbe paid after six months of service.  The following restrictions apply to this\nbonus.  If you terminate prior to a year of service, you will be required to re-\npay the bonus in full.\n\nSTOCK\n\nSubject to approval by Excite@Home's Board of Directors (or its designee), you\nwill receive a stock option to purchase 150,000 shares of Series A Common Stock.\nThe exercise price of your stock option will equal the Nasdaq closing price for\nExcite@Home's Series A Common Stock on the date your stock option is approved by\nthe Board of Directors (or its designee), which we anticipate will occur within\ntwo weeks following your date of hire. Your date of hire is the date that you\nactually begin working at Excite@Home and are on Excite@Home's payroll records.\nYour right to purchase your option shares will be subject to a vesting schedule\nthat provides for 25% of your option shares to vest on your first year\nanniversary (twelve months) with the remainder to vest at the rate of 2.0833%\nper month over the next thirty-six months.  The specific terms and conditions of\nyour stock option will be set forth in a definitive stock option grant that you\nwill receive shortly after your stock option is approved.\n\nBENEFITS\n\nWe provide health and welfare benefits, including Medical, Dental, Vision, Life\nand Disability Insurance, through our benefits plan.  Please refer to the\nattached Benefits Summary for more details.  Should you have any questions about\nthe benefit programs offered, please contact Margaret Chavez at (650) 569-2403.\n\nAUTHORIZATION TO WORK IN USA\n\nIn accordance with the Immigration Reform and Control Act of 1986, you are\nrequired to provide verification of your identity and legal rights to work in\nthe United States.  The appropriate documents must be presented for\nExcite@Home's review on your first day of employment.\n\nPROPRIETARY INFORMATION\n\nWe wish to impress upon you that we do not want you to bring with you any\nconfidential or proprietary material of any former employer, or to violate any\nother obligation to your former \n\n \nemployers. Within five days of your start date, you agree to execute the\ncompany's Nondisclosure and Invention Assignment Agreement, providing us trade\nsecret protection of the company's proprietary information. Please understand\nthat this offer is contingent upon a background investigation, reference checks\nand your written acceptance by Friday, December 17, 1999.\n\nAs a comprehensive Internet Search and Navigation Network, Excite@Home is\ninvolved in a wide variety of projects involving content from as many different\nsources on the Internet as possible.  As a result, Excite@Home cannot guarantee\nemployees that they will not be exposed to some adult material, either through\nspecific work assignments or due to the presence of such material in the work\nenvironment. Any representations contrary to those contained in this letter\nwhich may have been made to you are superseded by this offer.  If you accept\nthis offer, the terms described in this letter constitute the terms of your\nemployment with Excite@Home.\n\nPlease note: Excite@Home currently offers employee orientations every Monday at\n9:00 a.m.  It is required that you schedule your start date to coincide with our\nMonday orientations.  Benefits, payroll, and policies and procedures will be\ncovered during this session.  Please return the signed original offer letter\nalong with the New Hire Form and Non-Disclosure Agreement in the enclosed\nenvelope to Elaine Morgado at 450 Broadway, Redwood City, CA 94063.  A duplicate\noriginal is enclosed for your records.\n\nMark, we look forward to your acceptance, and future contributions as part of\nthe Excite@Home senior management team.\n\nSincerely,\n\n\/s\/ Adam Grosser\n\nAdam Grosser\nPresident, Subscriber Network\n\nEnclosures:  Excite@Home Benefits Summary\n             New Hire Forms\n \nI accept this offer of employment with the understanding that it is not an\nemployment contract.  I understand that either I or Excite@Home may terminate\nany time, for any reason, with or without cause and with or without notice.  The\nprovisions stated in the offer of employment supersede all prior discussions and\nnegotiations, and no other writing published by Excite@Home is intended to\nmodify the presumptions of at-will employment status.\n\nAccepted and Agreed:\n\nBy:  \/s\/ Mark O'Leary         Start date:\n    ---------------------                 ----------------------------\n \nPrint Name:  Mark O'Leary     Date:                             , 1999\n           --------------          -----------------------------\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[6782],"corporate_contracts_industries":[9510],"corporate_contracts_types":[9539,9544],"class_list":["post-39138","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-at-home-corp","corporate_contracts_industries-technology__programming","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\/39138","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=39138"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=39138"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=39138"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=39138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}