Consulting and Stock Option Vesting Agreement between Cognex Corporation and J. Bruce Robinson

Contract Categories: Human Resources › Consulting Agreements
Summary

This agreement confirms that J. Bruce Robinson, following his resignation from the Cognex Corporation Board of Directors, will provide consulting services as Assistant Secretary until March 23, 2019. During this period, his unvested stock options will continue to vest according to the original schedule. After March 23, 2019, no further vesting will occur and any remaining unvested options will terminate. All other rights regarding the stock options remain governed by the existing plan and award agreements.

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EX-10.1 2 exhibit101.htm EXHIBIT 10.1 Exhibit

                             
                           

EXHIBIT 10.1


February 15, 2018
delivered by email

J. Bruce Robinson


Dear Bruce:

We have received your letter of resignation from our Board of Directors dated February 15, 2018. On behalf of the Board, I would like to thank you for your past service to our company.

This letter is to confirm that, as a result of your agreement to provide consulting services as an Assistant Secretary of Cognex through the close of business on March 23, 2019, your unvested options to acquire shares of Cognex common stock (option nos. AR010322, AR010702 and AR011169) granted to you under Cognex’s Amended and Restated 2007 Stock Option and Incentive Plan (the “Plan”) will continue to vest in the amounts and at the times set forth in the applicable award agreements. After March 23, 2019, there will be no further vesting of your Cognex stock options, and the remaining unvested stock options will automatically terminate. Your rights with respect to your Cognex stock options will continue to be governed in all respects by the terms of the Plan and the applicable award agreements.

Please sign in the space indicated below and return this letter to me.


Sincerely yours,


Robert J. Shillman
Chairman of the Board of Directors


Acknowledged and Agreed:

/s/ J. Bruce Robinson
J. Bruce Robinson

Date: February 15, 2018


Cognex Corporation One Vision Drive Natick, MA ###-###-#### ###-###-#### fax ###-###-#### www.cognex.com