Infinera Offer Letter Agreement with Scott A. Chandler for Vice President Sales, Eastern Region
Infinera offers Scott A. Chandler the position of Vice President Sales, Eastern Region, with an annual salary of $200,000, a $10,000 hiring bonus (repayable if he resigns within a year), and eligibility for a $10,000 annual performance bonus. He is also recommended for stock options to purchase up to 135,000 shares, subject to board approval and plan terms. Employment is at-will, and Scott must sign confidentiality and arbitration agreements. The agreement outlines standard benefits and requires proof of work eligibility. The offer is effective May 15, 2003, upon Scott’s acceptance and signature.
Exhibit 10.21
February 24, 2003
Scott Chandler
Dear Scott:
On behalf of Infinera, I am pleased to offer you the position of Vice President Sales, Eastern Region, reporting to Howard Lukens, working in your home office in Boston. We are all very impressed with your credentials and look forward to your future success in this position.
Your salary for this position will be $7,692.32, every two weeks, which is equivalent to $200,000 on an annualized basis. Your salary will be payable bi-weekly, pursuant to the Company’s payroll policy. As a Company employee, you are also eligible to receive certain employee benefits, including a 401(k)-retirement savings plan, health, dental, vision, disability and life insurance and a flexible spending plan. Further, you will be paid a hiring bonus of $10,000, subject to applicable taxes and deductions, to be paid with your first regular paycheck. This bonus must be repaid if you resign from the Company within one year of your hire date.
You are also eligible to be paid a performance bonus of $10,000 per year. The details and objectives for this bonus will be provided under separate cover within 30 days of your start date. In addition, we will recommend to the Board of Directors of the Company at the first Board meeting after the start date, that you be granted stock options entitling you to purchase up to 135,000 shares of Common Stock of the Company at value as determined by the Board. Such options shall be subject to the terms and conditions of the Company’s Stock Option Plan and Stock Option Agreement, including vesting requirements.
For purposes of federal immigration law, you will be required to provide to the Company evidence of your identity and eligibility for employment in the United States. Such documentation must be provided to us within three (3) business days of your date of hire.
As a Company employee, you will be expected to abide by Company rules and standards. As a condition of your employment, you will also be required to sign and comply with a Confidential Information and Invention Assignment Agreement and an Arbitration Agreement.
Scott Chandler
February 24, 2003
Page 2
Your first day of employment will be May 15, 2003. To indicate your acceptance of the Company’s offer, please sign and date this letter in the space provided below and return one copy to me by March 1, 2003. A duplicate original is enclosed for your records. This letter, along with the agreement relating to proprietary rights between you and the Company, set forth the terms of your employment with the Company and supersede any prior representations or agreements, whether written or oral. This letter may not be modified or amended except by a written agreement, signed by an officer of the Company and by you. Your employment with the Company is for no specified period and constitutes at will employment.
We are excited by the prospect of you joining us and look forward to working with you! If you have any questions, please feel free to contact me.
| Sincerely, |
| /s/ Dana Lanier |
| Dana Lanier Director of Human Resources lnfinera |
ACCEPTED AND AGREED TO this Feb. 26, 2003 (Date)
| /s/ Scott A. Chandler |
| Scott Chandler |
