{"id":39616,"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-synplicity-inc-and-bob-erickson.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"employment-agreement-synplicity-inc-and-bob-erickson","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/employment-agreement-synplicity-inc-and-bob-erickson.html","title":{"rendered":"Employment Agreement &#8211; Synplicity Inc. and Bob Erickson"},"content":{"rendered":"<pre>\nApril 17, 1998\n\nBob Erickson\n[Address]\n\n\nDear Bob,\n\nSynplicity, Inc. is pleased to confirm our offer of regular, full-time\nemployment starting April 22, 1998, as Vice President of Engineering in our\nSilicon Valley office. In this position, you will be reporting to Bernie\nAronson. Your primary responsibilities as Vice President of Engineering will be\nmanaging the development and corporate applications\/support groups.\n\nHere are some details of the offer.\n\nPAY: Your base starting pay will be equivalent to $180,000 per year. As a\nprofessional (exempt) employee, you will be paid on a salaried basis, with\npaydays occurring semi-monthly, on the fifteenth and the last business day of\neach month.\n\nIf your employment is terminated without cause, Synplicity will pay you a lump\nsum of six months additional base salary. \"Cause\" will be defined as the\ndetermination by the CEO or the board of directors that you have refused to\nfollow CEO or board directives, violated your non-disclosure agreement with the\ncompany or your duties of loyalty or care, committed a felony or an act of moral\nturpitude or other action not becoming of an officer, engaged in actions which\ninvolved gross negligence or willful misconduct in the performance of your\nduties, or the like.\n\nSTOCK: It will be recommended to the Board of Directors that you receive an\nIncentive Stock Option (ISO) for two hundred sixty thousand (260,000) shares of\nSynplicity common stock, in accordance with the 1995 Synplicity, Inc. Stock\nOption Plan, as amended. Your option price will be at the fair market value\ndetermined by the Board of Directors at the next Board meeting held after your\nhire date. All grants are contingent upon Board approval.\n\nIf all or substantially all of Synplicity's assets or outstanding shares are\nsold, or if Synplicity is a party to a merger as a result of which Synplicity\nshareholders do not own more than 50% of the surviving entity, and your\nemployment is terminated without cause (as defined herein) or constructively\nterminated without cause within twelve months after such sale or merger (\"Sales\nTransaction\"), this ISO will immediately vest for an additional twelve months.\nConstructive termination will mean a resignation following a change in business\nlocation outside the San Francisco Bay Area, a reduction in salary, or a\ndiminution in responsibilities such that you no longer have a role commensurate\nwith the position of a senior manager in charge of an engineering department\nsimilar in size to Synplicity's.\n\n \nPage 2\n\n\nSIGN-ON BONUS: You will receive a one time sign-on bonus of $36,000, payable on\nyour first paydate.\n\nRELOCATION EXPENSES: Synplicity will reimburse you for relocation expenses for\nyou and your family from Oregon to the Bay Area. Copies of your receipts are\nrequired for reimbursement. Expenses are covered as follows: Up to $10,000 in\nexpenses to transport your personal belongings from Oregon to the Bay Area.\n\nSynplicity will also provide a one-bedroom furnished apartment for the period of\nfour months to enable your transition.\n\nHEALTH BENEFITS: Synplicity offers group medical, dental and vision benefits for\nall full-time, regular employees effective on your hire date.\n\n401K: Synplicity has a 401K plan. The plan has quarterly enrollment and a\npartial company matching. We will provide you with details when you begin your\nemployment.\n\nOTHER BENEFITS: All full-time, regular Synplicity employees receive Life\nInsurance, Short Term Disability, and Travel AD&amp;D insurance effective on your\nhire date.\n\nPAID TIME OFF (PTO): Synplicity's current policy is as follows: Synplicity\nallows 15 days of paid time-off per year for vacation, sick time, doctor's\nappointments, and other personal time off.\n\nOFFICIAL HOLIDAYS: Holidays include: New Year's Day (Jan. 1); President's Day\n(third Monday in February), Memorial Day (last Monday in May); Independence Day\n(July 4th); Labor Day (first Monday in September); Thanksgiving day and the day\nafter (last Thursday &amp; Friday in November); and, Christmas Day and the day after\n(December 25\/th\/ &amp; 26).\n\nWith your employment, comes the responsibility that you will honor any\nconfidentiality agreements you have signed with other companies. If you have any\nconfidential information or trade secrets, written, or otherwise known by you,\nyou are not to bring them to Synplicity, and you agree not to use them on the\njob in any way. You attest that you have not signed a \"non-competition\"\nagreement or any other agreement that would prohibit you from working here. This\noffer is contingent upon reviewing your current confidentiality agreement at\nAmbit (if any exist).\n\nYour employment is \"At Will\". Both you and Synplicity agree that your employment\nis completely voluntary in nature, and will not be for a specific duration or\nterm.\n\n \nPage 3\n\nBob, we are very excited about the prospect of having you as a member of the\nSynplicity team and believe you will find us to offer many exciting challenges\nof a small company, and a dynamic environment.\n\nYou may accept this offer by signing below and sending it back. We anxiously\nawait your positive acknowledgment of this employment offer and look forward to\nyou officially joining us here at Synplicity.\n\nSincerely,\n\n\n\n\/s\/ Ken McElvain\n-------------------------------------\nKen McElvain, Chief Technical Officer\n\n\n\n\/s\/ Bernie Aronson\n-------------------------------------\nBernie Aronson, President and CEO\n\n\n\n\/s\/ Bob Erickson         4\/21\/98         4\/22\/98\n----------------         -------         -------\nBob Erickson,            Today's Date    Start Date\n\nI accept your offer of employment with all the terms and conditions described\nherein, and agree to sign, on my first day, Synplicity's standard employment\nconfidentiality agreement. Also, by signing this agreement, I attest that I am\nlegally allowed to work in the United States.\n\nThis offer is valid until April 20, 1998.\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[8999],"corporate_contracts_industries":[9513],"corporate_contracts_types":[9539,9544],"class_list":["post-39616","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-synplicity-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\/39616","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=39616"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=39616"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=39616"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=39616"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}