Employment Offer Letter by and between Sonendo, Inc. and Mehrzad Khakpour, effective September 26, 2014
September 26, 2014
25092 Northrup Drive
Laguna Hills, CA 92653
On behalf of Sonendo, Inc., I am pleased to offer you the position of Senior Director of Research, Technology & Innovation, effective September 26, 2014 (the Effective Date). In your new capacity in the company, you will continue reporting to me.
Your base salary for this full-time exempt position will be $190,000 per annum, paid semi-monthly. You will be eligible to participate in the Companys bonus program, which may be amended from time to time, with a target incentive of 15% of your annual base salary. Your actual incentive bonus payout will depend on the achievement of pre-determined objectives and, to the extent applicable, the Compensation Committees assessment of your individual performance. To be eligible for the incentive bonus, you must remain employed and in good standing with the Company through the date that the incentive bonus is paid. The incentive bonus will be paid annually, typically within two months after the fiscal year for which they are earned.
If you wish to accept the offer, please sign in the place provided below and return it to me within seven days from the date of this letter.
This new position does not change the at will nature of our relationship. Our relationship is, and will always be, one of voluntary employment at will. At will means that either the employee or the Company can terminate the employment relationship at any time with or without cause or reason.
On behalf of the Sonendo team, Id like to congratulate you and wish you success in your new position.
|Very truly yours,|
|/s/ Bjarne Bergheim|
|President & Chief Executive Officer|
|AGREED AND ACCEPTED this|
|26 day of September, 2014|
|Date updated: 27-Feb-2014|
26061 Merit Circle, Suite 102
Laguna Hills, California 92653
Fax: 949 ###-###-####