Transition Agreement between Snap Inc. and Jeremi Gorman Dated August 29, 2022
This agreement outlines the terms of Jeremi Gorman's separation from Snap Inc. as Chief Business Officer, effective September 16, 2022. Snap will accelerate the vesting of certain unvested equity awards and pay Gorman the salary she would have earned through December 31, 2022, provided she signs a standard release agreement. Gorman confirms her departure is not due to any disagreement with Snap. The agreement is effective upon Snap's signature.
Exhibit 10.1
August 29, 2022
Jeremi Gorman
Via Email
Re: Transition Agreement
Jeremi,
The letter below outlines the terms of your separation from Snap Inc. (“Snap”). The effective date of this letter is the date Snap signs below.
| 1. | Your last day at Snap as Snap’s Chief Business Officer will be September 16, 2022 (“Last Day”). |
| 2. | Following your execution of our standard release agreement and expiration of any required rescission period, Snap will: |
| • | Accelerate the vesting of any unvested equity awards already granted to you, that vest pursuant to a monthly schedule, that are scheduled to vest after your Last Day through December 31, 2022; and |
| • | Pay you the salary that you would have earned after your last day, had you remained our Chief Business Officer from your Last Day through December 31, 2022. |
| 3. | You confirm that your separation from Snap is not related to any disagreement with Snap on any matter relating to Snap’s accounting, strategy, management, operations, policies, regulatory matters, or practices (financial or otherwise). |
If this agreement is acceptable to you, please sign below.
Sincerely,
Snap Inc.
/s/ Michael O’Sullivan
Michael O’Sullivan
Date: August 30, 2022
Accepted and agreed:
/s/ Jeremi Gorman
Jeremi Gorman
Date: August 29, 2022
