{"id":39141,"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-exodus-communications-inc-and-richard-h.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"employment-agreement-exodus-communications-inc-and-richard-h","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/employment-agreement-exodus-communications-inc-and-richard-h.html","title":{"rendered":"Employment Agreement &#8211; Exodus Communications Inc. and Richard H. Matter Jr."},"content":{"rendered":"<pre>[LOGO](TM)\nE X O D U S(R) \n\nExodus Communications, Inc.\n2831 Mission College Boulevard\nSanta Clara, CA 95054-1838\n408-346-2200  \n\nApril 11,200l\n\nRichard H. Mattern, Jr.\n20460 Montalvo Heights Drive \nSaratoga, CA. 95070\n\nDear Richard:\n\nI am pleased to extend to you an offer as an EVP, Business Development \nand Strategic Planning, reporting to Ellen Hancock. Your initial base \nsalary will be $20,000 per month, which is equivalent to $240,000 per \nyear. You will be eligible to participate in the Executive Incentive \nbonus program with a target incentive at 50% of base salary. You also \nwill be eligible to participate in our health and dental Insurance, \n401K, employee stock purchase plan and other employee benefits \nestablished by the Company.\n\nThis offer includes a one-time hire bonus of $70,000. This bonus is \npayable after the completion of 90 days of employment and shall be \nrepaid to Exodus should you voluntarily terminate employment with \nExodus within one year of your start date.\n\nWe will recommend that you be granted options to purchase up to \n200,000 shares of Exodus Communications, Inc. common stock. The \noptions, if approved, customarily are granted on the first trading \nday of the month following your date of hire. The exercise price will \nbe the closing price of the common stock on the date of your grant. \nThe options have a vesting period of 36-months beginning on your date \nof hire. Six months of continuous employment is required before you \nvest. At the conclusion of six months from your employment date you\nwill be 16% vested. You will then vest at a rate of 2.8% per month of \ncompleted service until your grant is fully vested.\n\nAs an employee of Exodus Communications, Inc., you will have access \nto certain Company confidential information and you may, during the \ncourse of your employment, develop certain information or inventions, \nwhich will become the property of Exodus. You will need to sign the \nattached \"Employee Invention Assignment and Confidentiality Agreement\" \nand \"Procedures and Guidelines Governing Securities Trades by Company \nPersonnel\" as conditions of your employment. We wish to impress upon \nyou that we do not wish you to bring with you any confidential or \nproprietary material of any former employer or to violate any other \nobligation to your former employers. Also, you represent that you are \nnot subject to any restrictions that prevent you from working for\nExodus.\n\n \n[LOGO](TM)\nE X O D U S(R)\n \nExodus Communications, Inc.\n2831 Mission College Boulevard\nSanta Clara, CA 95054-1838\n408-346-2200 \n \n    Your employment is conditioned upon you passing our background investigation\n    and providing verification of your eligibility for employment in the U.S.,\n    which meets the requirements of the U.S. Department of Justice.\n\n    You will be an at-will employee, which means the employment relationship is\n    voluntarily entered into by mutual consent of the employee and employer, is\n    not for a specified period of time and can be terminated by either the\n    employee or the Company for any reason or at any time, with or without\n    cause.\n\n    We look forward to your becoming a part of the Exodus Team. Please confirm\n    your acceptance of this offer at the earliest possible date. Also, please\n    fax a copy of your signed offer letter (both pages) and the two attachments\n    to Kaaren Yarborough, Human Resources at (408) 878-7686 (confidential fax #)\n    and keep the originals for your records. This offer expires seven days after\n    the issue date.\n\n    Your signature will acknowledge that you have read, understood and agreed to\n    the terms and conditions of this offer.\n\n    Sincerely,\n\n    \/s\/ Grace de Latour\n    Grace de Latour\n    SVP, Human Resources\n\n    I HAVE READ AND I UNDERSTAND THE TERMS OF THE OFFER SET OUT ABOVE. AS\n    INDICATED BY MY SIGNATURE BELOW, I ACCEPT THE OFFER AS OUTLINED ABOVE. NO\n    FURTHER COMMITMENTS WERE MADE TO ME AS A CONDITION OF EMPLOYMENT.\n\n    \/s\/ Richard H. Mattern, Jr. 4\/12\/2001 Specify \"Monday\" start date: 4\/23\/2001\n    --------------------------- ---------                              ---------\n    Richard H. Mattern, Jr.     Date     (Pending background clearance)\n\n\n\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[7490],"corporate_contracts_industries":[9513],"corporate_contracts_types":[9539,9544],"class_list":["post-39141","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-exodus-communications-inc","corporate_contracts_industries-technology__software","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\/39141","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=39141"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=39141"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=39141"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=39141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}