Form of Employment Extension Agreement
Exhibit 10.1
June 30, 2024
Brian Wuebbels - ***@***
1019 13th Street
Highland, IL 62249
Dear Brian,
You have rescinded and canceled your resignation letter, dated June 24, 2024. You hereby acknowledge that the resignation letter is void and was of no force or effect.
To ensure continuity and accurate release of the CSLR Q2 10Q financial statement, you and Complete Solaria have agreed to continue your employment through August 16, 2024.
The following employment extension terms will be provided, subject to Board approval, and take effect on July 5, 2024:
| 1. | Continuation of your current salary and existing employment benefit coverage through August 16, 2024, and health benefits will continue through August 31, 2024. |
| 2. | Subject to Board approval and your continued employment with the Company through August 16, 2024, accelerated vesting 27.8% of the 750,000 shares granted to you on May 2, 2024, based on the following prorated offer calculation: |
| Vesting Information | Vesting Date | No. of Shares | Number of Days from 6/24/2024 | |||||||
| CEO Offer Letter Vesting Date | 1/1/2025 | 1,129,636 | 191.00 | |||||||
| COO Offer Letter Grant | 4/24/2024 | 750,000 | 61.00 | |||||||
| *Newly Proposed Vesting Date | 8/16/2024 | 208,115 | 53.00 | |||||||
| * | Based on prorated extension of COO Offer Shares = 27.8% or 53/191 * 750,000 |
Your remaining 379,676 grant options will be terminated effective August 16, 2024.
| 3. | Nomination to the CSLR Board of Directors and 94,452 options as compensation for the Board seat, if approved by the Board. |
| 4. | These terms will amend the terms of the existing terms of your employment agreement with the Company and all other terms will remain in effect. |
Best regards,
T.J. Rodgers
Executive Chairman and CEO
Linda M. DeJulio VP,
Quality and HR
Brian Wuebbels
Chief Operations Officer
Date of Employment Extension Offer Acceptance:
