Nassda Corporation Employment Agreement with Shu-Hua Tammy Liu as Chief Financial Officer (September 15, 2000)

Summary

Nassda Corporation offers Shu-Hua Tammy Liu the position of Chief Financial Officer, effective September 18, 2000. Ms. Liu will oversee all financial matters, report to the CEO, and build the finance department. She will receive a $120,000 annual salary, benefits, and stock options vesting over four years, with special vesting provisions in case of company acquisition or merger. The agreement outlines her key responsibilities and compensation terms, and was accepted by Ms. Liu on September 18, 2000.

EX-10.6 18 dex106.txt LETTER OF EMPLOYMENT DATED SEPTEMBER 15, 2000 EXHIBIT 10.6 NASSDA September 15, 2000 Shu-Hua Tammy Liu [Address] Dear Tammy: Nassda is very pleased to offer you a key contributor position to help grow our business and bring forth our company's success. In accepting this offer, you will assume the responsibilities as Nassda's Chief Financial Officer, reporting directly to myself. With a close working relationship and support from the entire Nassda's staff, we believe that you will be able to exert your best effort to make Nassda's financial planning and financial operation/control as well as financial analysis the first rated in EDA industry. More specifically, working as a team member along with John, An-Chang and myself, you will be responsible for all financial related matters in Nassda, including but not limited to budgeting, booking and revenue recognition, product shipment, payment collection, payroll, accounting and financial reports, auditing management, financial community relationship, legal document review, international office installation and occasional financial analysis. You are also expected to build and manage an efficient finance department, which will serve the increasing needs as Nassda grows. Your compensation package will be comprised of a base annual salary of $120,000. Our benefit package is relatively complete. Nassda provides a comprehensive medical and dental coverage plan, life insurance and a 401K plan. As a key contributor, Nassda will offer you a stock option package of 165,000 shares of Nassda's common stock to be vested over a four-year period. The first 25% of this option package will be vested upon your completion of first year of service at Nassda. After the first year, the option shares will be vested on a monthly basis. These option shares are subject to certain Security Exchange Commission's restrictions and rules and the approval of Nassda's Board of Directors. These option shares are purchasable upfront but any unvested shares are subject to repurchasing by Nassda at cost if your employment with Nassda is discontinued. In case of a change of control in Nassda due to a merger or acquisition resulting in a loss of your CFO responsibilities, one of the following dispositions of option vesting acceleration will be activated. If such a change of control occurs before you fulfill your first two years service at Nassda, then one year vesting acceleration will be automatically granted to you. If you have served more than two years at Nassda at the time of such a change of control, a full vesting acceleration of the four year option shares will be granted. Tammy, we firmly believe that you will be a solid member of Nassda's core team and your contribution to Nassda's business success will be quite significant. We warmly welcome you to join this family of very talented and productive team of business professionals striving to create an excellent company with a high degree of success in future years. Sincerely, /s/ Sang Wang - ----------------------- Sang Wang Chief Executive Officer Nassda Corporation 1, Shu-Hua Tammy Liu, accept this offer with the terms stated above on 9/18/2000 and commit to start working at Nassda on 9/18/00. /s/ Shu-Hua Tammy Liu - ------------------------------------ Shu-Hua Tammy Liu -2-