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Offer Letter _options_ - Sample

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Offer Letter _options_ - Sample Powered By Docstoc
					COMPANY NAME
[ADDRESS] [ADDRESS]

_________ __, 200_

________________________ ________________________ ________________________

Dear __________: On behalf of COMPANY NAME, a [STATE OF INCORPORATION] corporation (the “Company”), I am pleased to offer you the position of _________________________ of the Company. Speaking for myself, as well as the other members of the Company’s management team, we are all very impressed with your credentials and we look forward to your future success in this position. The terms of your new position with the Company are as set forth below: 1. Position. You will become the _________________________ of the Company, working out of the Company’s offices located at [ADDRESS]. You will report to the Company’s _________________. Start Date. Subject to fulfillment of any conditions imposed by this offer letter, you will commence this new position with the Company on or before __________ ____, 2007 (your “Start Date”). Proof of Right to Work. For purposes of federal immigration law, you will be required to provide to the Company documentary evidence of your identity and eligibility for employment in the United States. Such documentation must be provided to us within three (3) business days of your date of hire, or our employment relationship with you may be terminated. Compensation. a. Base Salary. You will be paid a monthly salary of ______________________ Dollars ($__________), which is equivalent to ___________________________Dollars ($____________) on an annualized basis. Or You will be paid an hourly rate of ______________ Dollars ($__________). Annual Review. Your base salary will be reviewed at the end of each calendar year as part of the Company’s normal salary review process.

2.

3.

4.

b.

5.

Option Grants. a. Initial Grant. In connection with the commencement of your employment, the Company will recommend to the Board of Directors that the Company grant you options to purchase

up to __________________________________ (______________) shares of the Company’s common stock (the “Shares”) with an exercise price per Share equal to the fair market value per share of common stock as of the date of grant (as determined in good faith by the Board of Directors). Your options shall vest as follows: over a four (4)-year period in forty-eight (48) equal monthly installments. Vesting will, of course, depend on your continued employment with the Company. b. Subsequent Grants. Subject to the discretion of the Board of Directors, you may be eligible to receive additional grants of options or purchase rights from time to time in the future, on such terms and subject to such conditions as the Board of Directors shall determine as of the date of any such grant.

6.

Benefits. a. Insurance Benefits. The Company will provide you with its standard package of medical, dental and vision insurance and other standard benefits if, as, and when they become available. Vacation. You will be entitled to a standard 2 (two) weeks paid vacation per calendar year after 12 consecutive months of employment, pro-rated for the remainder of this calendar year. You are entitled to 3 weeks paid vacation per calendar year after 2 consecutive years of employment. Paid vacation days are accumulated monthly based on continuous years worked and are earned at the rate of 2% of time worked per vacation week. Probation. A probation period of 90 days applies, at which time the Manager will meet with the member to evaluate and discuss performance. Some benefits take effect at the completion of this period.

b.

c.

7.

Proprietary Information and Inventions Agreement. Your acceptance of this offer and commencement of employment with the Company is contingent upon the execution and delivery to an officer of the Company of the Company’s Proprietary Information and Inventions Agreement, a copy of which is enclosed for your review and execution (the “PIIA”), prior to or on your Start Date. Confidentiality of Terms. You agree to follow the Company’s policy that employees must not disclose, either directly or indirectly, any information, including any of the terms of this offer letter, regarding salary, bonuses, or stock purchase or option allocations to any person, including other employees of the Company; provided, however, that you may discuss such terms with members of your immediate family and any legal, tax, or accounting specialists who provide you with individual legal, tax, or accounting advice. At-Will Employment. Your employment with the Company will be on an “at will” basis, meaning that either you or the Company may terminate your employment at any time for any reason or no reason, without further obligation or liability.

8.

9.

We are all delighted to be able to extend you this offer and look forward to working with you. To indicate your acceptance of the Company's offer, please sign and date this offer letter in the space provided below and return it to me, along with a signed and dated copy of the PIIA. This offer letter and the PIIA, set forth the terms of your employment with the Company and supersede any prior representations or agreements, whether written or oral. This offer letter may not be modified or amended except by a written agreement, signed by the Company and by you. Very truly yours, COMPANY NAME a [STATE OF INCORPORATION] corporation

By: _____________________________ [OFFICER NAME], [OFFICER TITLE]

ACCEPTED AND AGREED:

__________________________, an individual

Signature

Date

Enclosure:

Proprietary Information and Inventions Agreement


				
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