Equity Award Acceleration Clarification Agreement between Intersect ENT, Inc. and Charles S. McKhann
This letter agreement between Intersect ENT, Inc. and Charles S. McKhann clarifies that all stock option grants made to Mr. McKhann, not just his initial grant, will be subject to the accelerated vesting provisions outlined in his original offer letter. The agreement is effective as of March 16, 2016, and is signed by both parties. This ensures that any future equity awards to Mr. McKhann will benefit from the same accelerated vesting terms as his initial award.
Exhibit 10.3
March 16, 2016
Mr. Charles S. McKhann
[Address]
Re: Equity Awards of Intersect ENT, Inc. (the “Company”)
Chas:
Your offer letter dated January 21, 2015 (the “Offer Letter”) states that the “initial” stock option granted to you in connection with your hire will be subject to the accelerated vesting provisions described in the Offer Letter (the “Acceleration Provisions”). This is to clarify that, the Company’s Compensation Committee has approved that not only will your initial grants be subject to the Acceleration Provisions but all subsequent grants will be subject to the acceleration Provision as well.
| Sincerely, |
| /s/ Lisa Earnhardt |
| Lisa Earnhardt |
| President and Chief Executive Officer |
| Agreed to and Acknowledged by: |
| /s/ Charles S. McKhann |
| Charles S. McKhann |
Intersect ENT | 1555 Adams Drive | Menlo Park, CA 94025 | 650 ###-###-####
