Amendment to Offer Letter, dated as of April 1, 2025, between Mathi Gurusamy and Lantronix, Inc

EX-10.2 3 lantronix_ex1002.htm AMENDMENT TO OFFER LETTER, DATED AS OF APRIL 1, 2025, BETWEEN MATHI GURUSAMY AND LANTRONIX, INC.

Exhibit 10.2

 

April 1, 2025

 

Mathi Gurusamy

 

c/o Lantronix, Inc.

48 Discovery, Suite 250

Irvine, CA 92618

 

Dear Mathi:

 

We want to thank you for your dedicated service to Lantronix, Inc (“Lantronix” or “Company”) and to confirm the terms of your promotion as set forth in this letter. Your position and title with the Company will be Chief Product and Strategy Officer effective April 1, 2025, subject to the terms and conditions of the certain letter agreement, dated as of April 2, 2024, by and between you and the Company (the “Letter Agreement”), as amended herein.

 

In the Letter Agreement, the section titled “BASE SALARY” is hereby amended to read as follows:

 

“The Company shall pay you a bi-weekly base salary in the amount of $14,423.08 ($375,000 on an annualized basis) less applicable withholdings and deductions, paid on the Company’s regular bi-weekly payroll dates. You will be classified as an exempt employee, and your salary will be paid on a salary basis and is intended to compensate you for all hours that you work. Your salary will be reviewed at the time executive salaries are reviewed periodically, and the Company may, in its sole discretion, adjust it to reflect Company performance, your performance, market conditions, and other factors deemed relevant by the Company.”

 

ACCEPTANCE

 

To indicate your agreement with the above, please sign the below and return a scanned copy via email to Human Resources at ***@***.

 

Very truly yours,

 

LANTRONIX, INC.

 

/s/ Dennis Gallagher                        

Dennis Gallagher

Vice President, General Counsel and Corporate Secretary