Amendment to Employment Agreement between Nicholas W. Hulse and Tumbleweed Communications
This amendment updates the employment agreement between Nicholas W. Hulse and Tumbleweed Communications. It outlines the terms for salary, stock option vesting, and health benefits if Mr. Hulse's employment ends due to reasons other than cause, death, or disability, or if he resigns after a constructive termination. In such cases, he will receive nine months of salary, continued stock option vesting, and health benefits, provided he signs a release of claims. The amendment also specifies benefits in the event of death or disability and supersedes previous agreements.
Exhibit 10.2
February 11, 2008
Nicholas W. Hulse
Dear Nick,
I am pleased to confirm that the Board of Directors has approved the amendment of your employment arrangement as follows
Termination. If (a) Tumbleweed terminates your employment for any reason other than Cause, your death, or Disability, or (b) you terminate your employment following a Constructive Termination, then, subject to your delivery of a signed release of claims in a form reasonably satisfactory to Tumbleweed, you will be entitled to (i) continuation for a period of nine months of your base salary, paid in accordance with Tumbleweed’s payroll practices, (ii) continuation for a period of nine months of the vesting of your then-outstanding Tumbleweed stock options, and (iii) continuation of your health benefits for nine months.
In the event of termination for Cause, you will not be entitled to any such payments, salary, bonus, or benefits.
In the event of termination as a result of your death or Disability, subject to the delivery by you or your estate of a signed release of claims in a form reasonably satisfactory to Tumbleweed, you will be entitled to continuation for a period of nine months of base salary and, as determined by Tumbleweed, either (i) continuation for a period of nine months of the vesting of your then-outstanding Tumbleweed stock options or (ii) nine months’s acceleration of the vesting of your then-outstanding Tumbleweed stock options.
This amendment, together with the of the Proprietary Information and Inventions Agreement between you and Tumbleweed, the Stock Option Agreements, the Tumbleweed Communications Employee Manual and other policy documents applicable to Tumbleweed employees, and the Plan Documents, contain all the understandings between you and Tumbleweed with respect to your employment with Tumbleweed or the termination thereof, and supercede all other prior agreements and understandings, whether oral or in writing, including but not limited to the letter agreement between you and Tumbleweed dated February 22, 2007.
| /s/ Bernard J.Cassidy |
| Bernard J. Cassidy, SVP |
Please indicate acceptance of this offer by returning this form with your signature.
| /s/ Nicholas W. Hulse | February 14, 2008 | |||
| Nicholas W. Hulse | Date | |||
