May 19, 2021
San Jose, CA
Re: Offer of Employment with Invitae Corporation
It is with great pleasure to invite you to join the Invitae team. We look forward to having you join us on June 21, 2021. The terms of our offer are as follows:
1. Duties. As a full time employee, your role will be Chief Financial Officer. As Invitaes business evolves, your job responsibilities are subject to change. During your employment, you will devote your best efforts and your full business time, skill and attention to your Invitae job duties.
2. Salary. Invitae will pay you a base salary of $475,000.00 per year, less all deductions and withholdings that apply. We will pay you according to Invitaes standard payroll practices, as they may change from time to time. The company may modify your compensation during the course of your employment.
3. Location. This will be a remote position.
4. Sign-on Bonus. In addition, you will receive a one-time $500,000.00 sign-on bonus. Your sign-on bonus will be payable with your initial paycheck following your commencement of employment with Invitae and will be refundable should you resign your employment within twelve (12) months of your start date.
5. Equity. Invitae will grant you 125,000 shares of restricted stock units (RSUs). These RSUs will vest over a 3-year period, subject to the terms and conditions of Invitaes 2015 Stock Incentive Plan and the applicable Stock Award Agreement. You will also be eligible to participate in the Invitae 2021 Executive Management Incentive Compensation Plan (the Plan) and to receive up to 19,900 in performance RSUs, subject to the terms of the Plan.
6. Benefits. If you choose to enroll, health coverage will begin on the 1st of the following month (e.g., if you start April 22nd, your medical benefits go live May 1st.) You will be eligible to participate in Invitae-sponsored medical and other employee benefits programs. For additional information on Invitaes benefits package, please refer to the Employee Benefits summary enclosed with this letter. We will provide further details at your New Hire Orientation, to be scheduled soon after your first day on the job. The company may, from time to time, change these benefits.
7. Background and Reference Check. This offer of employment is contingent upon satisfactory results of a background and reference check to be performed pursuant to your written authorization.