Offer Letter between the registrant and Maria Renz, effective as of September 11, 2020
September 5, 2020
I am excited to offer you a position as a director to serve on the Board of Directors (the Board) of DoorDash, Inc. (the Company). As part of this appointment, we are also pleased to offer you a position on the Companys Leadership Development & Compensation Committee. We appreciate your willingness to accept this position, and we look forward to your valuable contributions. This offer is subject to the successful completion of a background check to the Companys satisfaction, which will be initiated as soon as possible.
Following the effectiveness of your appointment as a member of the Board, and subject to Board approval, you will be granted an equity award of (i) 1,089 restricted stock units (RSUs) (an Initial Award) plus an award of 772 RSUs (an Annual Award). The Initial Award will be subject to the following vesting condition: a requirement that you provide service to the Company over approximately four years (the service-based requirement), which will be satisfied in equal monthly installments following a vesting commencement date established by the Board that is as soon as reasonably practicable following your appointment to the Board. The Annual Award will vest on the earlier of (i) the one-year anniversary of the date the Annual Award is granted or (ii) the day prior to the date of our annual meeting of stockholders that follows the date the Annual Award is granted, in each case, subject to you continuing to serve on the Board through the applicable vesting date. In addition, if the Company is subject to a change in control (as defined in the applicable Restricted Stock Unit Agreement) before your service terminates, both the Initial Award and Annual Award will vest.
We will also reimburse you for reasonable expenses that you incur in connection with attendance at meetings of the Board, or committees of the Board, in accordance with the Companys generally applicable reimbursement policies. We will review our reimbursement and compensation policies for Board members in the event of an initial public offering.
We plan to have at least one scheduled Board meeting each calendar quarter. As a Board member, you are responsible for attending these scheduled meetings plus the meetings of any Board committees on which you serve in person or, in the instances where in person attendance is not possible, by telephone.
In connection with your services to the Company, we expect that technical, business or financial information of the Company (Confidential Information) will be disclosed to you. To the extent that Confidential Information is not publicly known or not otherwise previously known by you without an obligation of confidentiality, you agree not to use (except in connection with your services to the Company) or disclose Confidential Information to any third party and to take reasonable steps to maintain the confidential nature of all Confidential Information.
September 5, 2020
As part of our overall responsibilities, the Company the Board and the Companys stockholders reserve the right to remove any individual from the Board at any time in accordance with the provisions of applicable law. You, of course, may also terminate your relationship with Company at any time. When you cease to be a member of the Board (whether at our request or your election), you must return all Confidential Information to the Company.
This letter agreement supersedes and replace any prior agreements, representations or understandings (whether written, oral, implied or otherwise) between you and the Company and constitute the complete agreement between you and the Company regarding the subject matter set forth herein. This letter agreement may not be amended or modified, except by an express written agreement signed by both you and a duly authorized officer of the Company. The terms of this letter agreement and the resolution of any disputes as to the meaning, effect, performance or validity of this letter agreement or arising out of, related to, or in any way connected with, this letter agreement, your employment with the Company or any other relationship between you and the Company (the Disputes) will be governed by California law, excluding laws relating to conflicts or choice of law. You and the Company submit to the exclusive personal jurisdiction of the federal and state courts located in California in connection with any Dispute or any claim related to any Dispute.
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September 5, 2020
I am excited about you joining our Board and look forward to working with you to help make the Company truly great and prosperous. You may indicate your agreement with these terms and accept this offer by signing and dating the enclosed duplicate original of this letter agreement and returning it to me.
If you have any questions please do not hesitate to call me.
|Very truly yours,|
|Tony Xu, CEO|
|I have read and accept this offer:|
|Signature of Maria Renz|