Performance Incentive Program:
You are eligible to participate in the Companys annual performance based incentive program, which provides employees with cash bonuses based on the performance of the employee and the company, in each case established and evaluated by the Company in its discretion and subject to the approval of the Board of Directors of the Company, (the Board).
Incentive Bonus Plan:
Your target bonus for a full calendar year will be 35% of your annual base salary based on the attainment of performance metrics and/or individual performance objectives. If hired between February 1 and October 31 your bonus will be pro-rated. If hired after October 31, you will not receive a bonus. This plan will be based on individual performance goals established and achieved after you start and along with the overall Company performance. Eligibility for any award under this plan is contingent on your employment at the Company on the date the award is paid
All payments and other amounts contemplated to be payable by this letter are subject to tax and other withholdings as required by law.
Health & Wellness Benefits:
While employed you will be eligible to participate in the employee benefit plans and programs that the Company establishes and makes available to its regular full-time employees, subject to terms of those plans and programs.
Your employment with the Company is at will. Which means it may be terminated at any time by you or SQZ, with or without cause. It also means that your job duties, title and responsibility and reporting level, work schedule, compensation and benefits, as well as the Companys personnel policies and procedures, may be changed with prospective effect, with or without notice, at any time in the sole discretion of the Company.
As a condition of employment, you will be required to (1) sign and comply with the Companys Employee Nondisclosure, Noncompetition and Assignment of Intellectual Property Agreement, a copy of which is enclosed with this letter, (2) sign and return a satisfactory I-9 Immigration form and provide sufficient documentation establishing your employment eligibility in the United States of America and (3) provide satisfactory proof of your identity as required by U.S. law.
During your employment with Company, you will be subject to and required to comply with all company policies, and applicable laws and regulations. The Company requires that, as a full-time employee, you devote your full business time, attention, skill, and efforts to the tasks and duties of your position as assigned by the Company. If you wish to request consent to provide services (for any or no compensation) to any other person or business entity while employed by the Company, please discuss that with me in advance of accepting another position.
Notwithstanding any of the above, if you accept this offer, this letter and the Employee Nondisclosure, Noncompetition and Assignment of Intellectual Property Agreement will constitute the complete agreement between you and Company with respect to the terms and conditions of your employment. Any prior or contemporaneous representations (whether oral or written) not contained in this letter or the Employee Nondisclosure, Noncompetition and Assignment of Intellectual Property Agreement or contrary to those contained in this letter or the Employee Nondisclosure, Noncompetition and Assignment of Intellectual Property Agreement, that may have been made to you are expressly cancelled and superseded by this offer.
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