FIRST AMENDMENT TO FEIN EMPLOYMENT AGREEMENT
Exhibit 10.17
FIRST AMENDMENT TO FEIN EMPLOYMENT AGREEMENT
This First Amendment to Employment Agreement (the Amendment) is made by and between Evan Fein (the Executive) and Impinj, Inc. (the Company and together with the Executive hereinafter collectively referred to as the Parties) on February 9, 2015.
W I T N E S S E T H:
WHEREAS, the Parties previously entered into an employment offer letter, dated October 13, 2000 (the Prior Agreement);
WHEREAS, the Company and Executive amended the Prior Agreement on December 23, 2009 (the Amended & Restated Fein Employment Agreement), to govern the terms and conditions with respect to Executives continued employment with the Company; and
WHEREAS, the Company and Executive desire to amend the Amended & Restated Fein Employment Agreement to provide for 100% acceleration in certain circumstances upon a change of control, among other things.
NOW, THEREFORE, for good and valuable consideration, Executive and the Company agree to further amend the Amended & Restated Fein Employment Agreement, as follows:
1. Section 7(b)(D) of the Amended & Restated Fein Employment Agreement is hereby amended and replaced in its entirety as follows (with deletions struck through and insertions italicized and underlined)::
(D) accelerated vesting of all outstanding Awards as to fifty percent (50%) one hundred percent (100%) of the then unvested portion of any such Award and
IN WITNESS WHEREOF, each of the Parties has executed this Amendment, in the case of the Company by its duly authorized officer, as of the day and year set forth above.
COMPANY | IMPINJ, INC. | |||||
/s/ Chris Diorio | ||||||
By: | Chris Diorio, Ph.D. | |||||
Title: | CEO | |||||
EXECUTIVE | EVAN FEIN | |||||
/s/ Evan Fein |