A10 Networks, Inc. Employment Offer Letter to Ray Smets for Vice President Global Sales Position
A10 Networks, Inc. offers Ray Smets the position of Vice President Global Sales, reporting to the CEO, with a base salary of $285,000 per year and potential additional earnings of $275,000 based on performance. The offer includes stock options, employee benefits, and requires signing a standard employee agreement. Employment is at-will, meaning either party can terminate at any time. The offer is contingent on background checks and is valid for two business days, with a proposed start date of July 22, 2013.
Exhibit 10.10
July 18, 2013
Mr. Ray Smets
[PRIVATE ADDRESS]
Dear Ray:
I am pleased to confirm the offer for you to join A10 Networks, Inc., a California corporation (the Company), as Vice President Global Sales, based out of our San Jose Headquarters. This is a full-time regular position reporting to Lee Chen, CEO/President. As a key member of the Executive Management Team, you will have primary responsibility to develop, drive and implement a strong global sales plan to significantly and quickly grow sales and market penetration, along with overseeing World Wide Sales Operations, Business Development, and Systems Engineering.
Your starting salary will be at a rate of $285,000 per year, payable in accordance with the companys payroll schedule. You will be eligible for an additional on target earnings of $275,000, compensated in accordance with the 2013 A10 Sales Compensation Plan and completion of mutually agreeable objectives set between you and your manager.
You will also be granted options to purchase 750,000 shares of the Companys Common Stock, pending approval by the Companys Board of Directors and subject to the terms and conditions of the Companys 2008 Stock Plan. Generally speaking, those terms will include, among other things, vesting of 1/4 of the shares on your first year anniversary date, and an additional 1/48th of the shares at the end of each additional month thereafter. However, the vesting of your options will be subject to a special acceleration of fifty percent (50%) of the number of shares then unvested upon and in the event of any acquisition or merger of the company, if such transaction involves a change of control.
You will be entitled to receive the Companys employee benefits made available to other employees at your level to the full extent of your eligibility. The effective date of medical, dental and vision insurance is the 1st of the month following your start date. If your start date is on the 1st of the month, benefits will be effective on that date.
Your employment will be subject to your execution of the Companys standard form of Employee Agreement (relating to non-disclosure of confidential information and assignment of inventions to the Company), and successful completion of any outstanding reference and background checks.
Your Employment with the Company is for no specific period of time. Your employment with the Company will be at will, meaning that either you or the Company may terminate your
Memorandum
July 18, 2013
Page 2
employment at any time and for any reason, with or without cause. Any contrary representations which may have been made to you are superseded by this offer. This is the full and complete agreement between you and the Company on this term. Although your job duties, title, compensation and benefits, as well as the Companys personnel policies and procedures, may change from time to time, the at will nature of your employment may only be changed in an express written agreement signed by you and the Companys Chief Executive Officer.
If this offer meets your approval, please confirm your acceptance by signing a copy of this letter below and confirming your start date. This offer is valid for two (2) business days following your receipt of this letter; and assumes a proposed start date of July 22, 2013.
I look forward to a favorable reply and to welcoming you to A10 Networks, Inc.
Sincerely, |
/s/ Ruth Welch |
Ruth Welch |
Senior Director Human Resources |
Acknowledged and accepted: | ||
/s/ Ray Smets | ||
Ray Smets | ||
Date: | 7/18/13 |
Start Date: | 7/22/13 |