{"id":39395,"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-netflix-inc-and-tom-dillon.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"employment-agreement-netflix-inc-and-tom-dillon","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/employment-agreement-netflix-inc-and-tom-dillon.html","title":{"rendered":"Employment Agreement &#8211; NetFlix Inc. and Tom Dillon"},"content":{"rendered":"<pre>\n                                                 [LETTERHEAD OF NETFLIX.COM(TM)]\n\nMarch 25, 1999\n\n\n\nTom Dillon\n102 Bell Flower Way\nScotts Valley, CA 95066\n\n\nDear Tom:\n\nOn behalf of NetFlix. Inc., it is my pleasure to offer to you for the position\nof Vice President of Operations reporting to Reed Hastings, CEO. Your annual\nsalary will be $160,000.00 to be paid bi-weekly.\n\nIn addition, we are pleased to offer you an option to purchase 225,000 shares of\nthe Company's Common Stock, subject to final approval by the Board of Directors.\nThe purchase price will be equal to the fair market value at the date of the\ngrant in accordance with the NetFlix, Inc. 1997 Stock Plan. These options will\nvest over four years with one-year cliff vesting and monthly vesting thereafter.\nThis stock option plan includes twelve-month acceleration in the event of\ntermination due to a change of control.\n\nAlso, you will receive an annual bonus targeted at $ 15,000.00 based on company\nperformance. Metrics for payment of this bonus will be mutually determined upon\nyour employment with the Company.\n\nAs a full-time employee of NetFlix, you are entitled to standard company\nemployee benefits such as vacation. sick leave and full medical insurance.\n\nIt should be noted that as a condition of employment, you will be required to\nsign an agreement which addresses the issues of confidentiality, conflicts of\ninterest, non-competition, and patent assignments. Additionally, on your first\nday of employment, you will be required to provide the Company documentary\nevidence of your identity and eligibility for employment in the United States to\nsatisfy the requirements of Employment Eligibility Verifications (Form I-9) as\nrequired by Federal law.\n\nWhile we hope and expect that this will be the beginning of a long and rewarding\nemployment relationship, your employment is at-will, and either you or NetFlix\nmay terminate this employment relationship at anytime and for any reason, with\nor without cause. We will provide you severance of three months with continued\nsalary and benefits if your employment is terminated for reasons other than\ncause.\n\nPlease confirm your acceptance of this offer and start date by returning a\nsigned copy of this letter to me by 5:00 PM, Monday, March 29, 1999.\n\nThe entire NetFlix team is looking forward to working with you!\n\nSincerely,\n\n\n\n\/s\/ Reed Hastings\n-------------------------\nReed Hastings\nCEO\n\n\nAgreed to and accepted:\n\n\n\n\/s\/ Tom Dillon                      4-5-99\n-------------------------         ----------              -------------\nTom Dillon                           Date                  Start Date\n\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[8324],"corporate_contracts_industries":[9469],"corporate_contracts_types":[9539,9544],"class_list":["post-39395","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-netflix-inc","corporate_contracts_industries-media__rental","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\/39395","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=39395"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=39395"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=39395"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=39395"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}