{"id":39142,"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-vice.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"employment-agreement-exodus-communications-inc-and-vice","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/employment-agreement-exodus-communications-inc-and-vice.html","title":{"rendered":"Employment Agreement &#8211; Exodus Communications Inc. and Vice President, Marketing and Strategy"},"content":{"rendered":"<pre>\nSeptember 30, 1998\n\n\n               \n\n\n\n\nDear      ,\n\nI am pleased to extend to you an offer as Vice President, Marketing and Strategy\nreporting to Ellen Hancock. Your initial base salary will be $16,666.67 per\nmonth, which is equivalent to $200,000.00 per year. You will be eligible to\nparticipate in the company Executive Bonus Program, initially at 75% of your\nbase salary and fully guaranteed for the first year. You will be covered by the\nattached Executive Employment Policy with the addendum as noted. You also will\nbe eligible to participate in our health and dental insurance, 401K and other\nemployee benefits established by the Company.\n\nThis offer includes a one-time hire bonus of $75,000.00. This bonus is payable\nafter the completion of 90 days of employment and shall be repaid to Exodus\nshould you voluntarily terminate employment with Exodus within one year of your\nstart date.\n\nWe will recommend to the Compensation Committee of the Company that you be\ngranted options to purchase up to 150,000 shares of Exodus Communications, Inc.\ncommon stock under the Exodus' Equity Incentive Plan. The options, if approved\nby the Committee, will be granted at the first Compensation Committee meeting\nafter your date of hire. The exercise price will be the closing price of the\ncommon stock on the date of the Compensation Committee meeting. The options have\na vesting period of 50-months beginning on your date of hire. Six months of\ncontinuous employment is required before you vest. At the conclusion of six\nmonths from your employment date you will be 12% vested. You will then vest at a\nrate of 2% per month of completed service until your grant is fully vested.\n\nAs an employee of Exodus Communications, Inc., you will have access to certain\nCompany confidential information and you may, during the course of your\nemployment, develop certain information or inventions, which will become the\nproperty of Exodus. You will need to sign the Company's standard 'Proprietary\nInformation and Invention Agreement' as a condition of your employment. We wish\nto impress upon you that we do not wish you to bring with you any confidential\nor proprietary material of any former employer or to violate any other\nobligation to your former employers. Also, you represent that you are not\nsubject to any restrictions that prevent you from working for Exodus.\n\nYour employment with Exodus is conditioned upon your providing verification of\nyour eligibility for employment in the U.S., which meets the requirements of the\nU.S. Department of Justice and passing our background investigation.\n\n \nYou will be an at-will employee of the Company, which means the employment\nrelationship is voluntarily entered into by mutual consent of the employee and\nemployer, is not for a specified period of time and can be terminated by either\nthe employee or the Company for any reason or at any time, with or without\ncause.\n\nWe look forward to your becoming a part of the Exodus Team. Please confirm your\nacceptance of this offer at the earliest possible date. Also, please return the\noriginal offer signed to the attention of Human Resources and keep copies for\nyour records. You may also fax a copy of each to Human Resources at (408) 346-\n2202. This offer expires 7 days after the issue date.\n\nYour signature will acknowledge that you have read, understood and agreed to the\nterms and conditions of this offer.\n\nSincerely,\n\n\/s\/ Richard Stolz\n\nRichard Stoltz\nChief Operating Officer\n\nOFFER ACCEPTED AS OUTLINED ABOVE.  No further commitments were made to me as a\ncondition of employment.\n\n\/s\/                         4 Oct 98                         2 Nov 98\n_________________________   __________ My start date will be____________\nSignature                         Date\nTEXT&gt;\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-39142","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\/39142","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=39142"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=39142"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=39142"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=39142"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}