On behalf of ON24, Inc. (the Company), I am pleased to [confirm the terms of your ongoing employment in] [offer you] the position of [Position]. Speaking for myself, as well as the other members of the Companys management team, we look forward to your [continued] success in this position. Except as provided below, this letter agreement amends and supersedes in its entirety any and all prior letter or other written or oral agreements regarding the terms of your employment with the Company.
The terms of your position with the Company are as set forth below:
1. Position. Your position will be [Position], reporting to [Name and Title]. This position is located at [Office or remote]. You agree to the best of your ability and experience that you will at all times loyally and conscientiously perform all of the duties and obligations required of and from you pursuant to the express and implicit terms hereof, and to the reasonable satisfaction of the Company. During the term of your employment, you further agree that you will not engage in any work, paid or unpaid, or other activities that create a conflict of interest with the Company. Such work and/or activities shall include, but is not limited to, directly or indirectly competing with the Company in any way, or acting as an officer, director, employee, consultant, stockholder, volunteer, lender, or agent of any business enterprise of the same nature as, or which is in direct competition with, the business in which the Company is now engaged or in which the Company becomes engaged during the term of your employment. Nothing in this letter agreement will prevent you from accepting speaking or presentation engagements in exchange for honoraria that are not in conflict with the Companys interests or from serving on boards of charitable organizations, or from owning no more than one percent (1%) of the outstanding equity securities of a corporation whose stock is listed on a national stock exchange. Of course, subject to the other provisions of this offer letter, the Company may change your position, duties, compensation, benefits and work location from time to time at its discretion. As an exempt salaried employee, you will be expected to work the hours required by the nature of your work assignments and will not be eligible to receive overtime.
2. Cash Compensation. Commencing on [Date] (the Effective Date), you will be paid an annual base salary of $[Amount], less applicable withholding. Your salary will be payable in two equal payments per month pursuant to the Companys regular payroll policy (or in the same manner as other employees of the Company). In addition, commencing on the Effective Date you will be eligible to participate in the Companys annual [applicable bonus plan] and to receive a target annual bonus of $[Amount], less applicable withholding. The amount of your bonus will be determined in the Companys reasonable discretion based on Company performance.
3. Benefits. You will be eligible to participate in the Companys health and welfare benefits the first of the month following your date of hire, in accordance with the terms and subject to the conditions of the applicable benefits plan or policy. These benefits presently include: medical, dental, vision, STD, LTD, and life insurance. The Company reserves the right to change/eliminate any benefits (other than those required by law) from time to time in its discretion.