Form of Employment Agreement between the Registrant and its executive officers
EX-10.2 3 uber09302020exhibit102.htm EX-10.2 Document
Uber Technologies, Inc.
1455 Market Street, 4th Floor
San Francisco, CA 94103
Dear [FIRST NAME],
Your employment by Uber Technologies, Inc., a Delaware corporation (the “Company”) shall be governed by the terms and conditions set forth below in this employment agreement (the “Agreement”). This Agreement shall be effective upon [EFFECTIVE DATE] [the date you commence employment, which shall be no later than [START DATE] (your “Start Date”)].
1.Duties and Scope of Employment.
a.Position. The Company will [continue to] employ you in the position of [TITLE]. You will continue to report to the Company’s [SUPERVISOR] (your “Supervisor”). You will perform the duties and have the responsibilities and authority customarily performed and held by an employee in your position and such additional duties commensurate with the position as may be assigned or delegated to you by your Supervisor. This is a full-time position.
b.Principal Work Location. Your principal place of employment will be the Company’s [LOCATION] office, which is currently located at [ADDRESS].
c.Obligations to the Company. During your employment, you shall devote your full business efforts and time to the Company, except as provided herein. Without express written permission from Global Compliance, you shall not render services in any capacity to any other person or entity and shall not act as a sole proprietor or partner of any other person or entity or own more than five percent (5%) of the stock of any other corporation. You may serve on corporate or civic boards or committees, have an advisory role for an outside company, and have personal side-projects, provided that such activities do not individually or in the aggregate interfere with the performance of your duties or create a conflict of interest under this Agreement. Should you engage in any activity listed in this paragraph, please complete the Company’s Outside Activities Disclosure Form. You shall comply with the Company’s policies and rules, as they may be in effect from time to time during your employment.
d.No Conflicting Obligations. You represent and warrant that you are under no contractual or other obligations or commitments that are inconsistent with your obligations under this Agreement, including but not limited to any restrictions that would preclude you from providing services to the Company. In connection with your employment, you shall not use or disclose any trade secrets or
other proprietary information or intellectual property in which you or any other person or entity has any right, title, or interest, and your employment will not infringe or violate the rights of any other person or entity. You confirm that you have not removed or taken and will not remove or take any documents or proprietary data or materials of any kind with you from any former employer to the Company without written authorization from that employer. You are hereby notified that you may be entitled to immunity from liability for certain disclosures of trade secrets under the Defend Trade Secrets Act, 18 U.S.C. § 1833(b).
a.Salary. The Company will pay you as compensation for your services an annual base salary, which will be [ANNUAL SALARY] effective [EFFECTIVE DATE], payable in accordance with the Company’s standard payroll procedures. This is an exempt position, which means that your salary is intended to compensate you for all hours worked, and you will not be eligible for overtime pay.
b.Annual Cash Bonus. For each calendar year, you will be eligible to participate in the Uber Technologies, Inc. Executive Bonus Plan (the “Bonus Plan”), under which you may receive an annual cash bonus (the “Bonus”). [Effective [DATE]], the target amount of your Bonus (the “Target Cash Bonus”) will be [BONUS TARGET], [which will be prorated for [YEAR] based on your target Bonus in effect prior to such date][which will be prorated for [YEAR] based on your Start Date]. The actual amount of any Bonus, and your entitlement to the Bonus, will be subject to the terms of the Bonus Plan.
c.[Sign-On Bonus. The Company will pay you a signing bonus of $[SIGN ON BONUS AMOUNT] to be paid out in two equal installments of $[SIGN ON BONUS AMOUNT/2]. The first installment will be paid in cash on the first regular payroll date following your Start Date (the "First Installment"). The second installment will be paid in cash on the first regular payroll date following the one-year anniversary of your Start Date (the "Second Installment"), in each case, subject to your continued employment by the Company through the payment date. Both installments will be subject to any required withholding and other authorized deductions. If you voluntarily resign your employment with or you are terminated for Cause (as defined in the Uber Technologies, Inc. 2019 Executive Severance Plan, as amended, or any applicable successor plan (the “Severance Plan”) from the Company before the one-year anniversary of your Start Date, you agree to repay the full amount of the First Installment, less 8.33% for each full month of continuous employment with the Company after your Start Date. If you voluntarily resign your employment with or you are terminated for Cause from the Company before the second anniversary of your Start Date, you will forfeit, and you agree to repay, if applicable, the full amount of the Second Installment, less 8.33% for each full month of continuous employment with the Company after the one-year anniversary of your Start Date. Nothing herein should be construed as a modification of your at-will employment relationship with Uber.]
d.Equity Refresh Grant. Subject to the approval of the Company’s Board of Directors (or a duly constituted committee thereof), you will be eligible to receive an annual equity refresh grant (each grant, an “Annual Equity Refresh Grant”). Each Annual Equity Refresh Grant will be subject to the terms and conditions set forth (i) in the Company’s 2019 Equity Incentive Plan, as amended, or any applicable successor plan, and (ii) in the applicable award agreement. Equity refresh awards are subject to manager and Company discretion, based on your performance and the performance of the Company. The Company will determine the amount of each Annual Equity Refresh Grant, and the applicable vesting conditions, on an annual basis.
e.[New Hire RSU Grant. As soon as reasonably practicable after your Start Date, and subject to the approval of the Company’s Board of Directors (or a duly constituted committee thereof),
the Company will grant you $[DOLLAR VALUE] in RSUs (the “New Hire RSU Grant”). The RSUs will be converted to a number of shares at the date of grant in accordance with the Company’s standard procedures. The New Hire RSU Grant will be subject to a time-based vesting condition. The time-based vesting condition will lapse with respect to 12/48 of such RSUs on the one-year anniversary of your “Vesting Commencement Date” (which will be the 16th day of the month in which your Start Date occurs), and thereafter, with respect to 1/48 of such RSUs on each monthly anniversary of the Vesting Commencement Date, subject in each case to your continued service through the applicable date (except as otherwise provided herein). The New Hire RSU Grant will be substantially in a form approved by the Company and will be subject to the terms and conditions set forth in the Incentive Plan and in the applicable award agreement.]
f.[Relocation Expenses. In order to assist you in the relocation of your principal residence to the [San Francisco Bay area], the Company will provide you with up to $[DOLLAR AMOUNT] in relocation benefits in accordance with the Company’s relocation policy.]
The foregoing provisions (a)-([c][e]) are subject to the terms and conditions of any applicable plans and/or policies of the Company, as amended from time to time. You agree to pay any income or other taxes that are required to be paid in connection with your receipt of these benefits, except to the extent otherwise provided in an applicable Company policy.
3.Paid Time Off and Employee Benefits.
You will be eligible for paid time off in accordance with the Company’s paid time off policy generally available to similarly situated employees of the Company, as it may be amended from time to time. You will also be eligible to participate in the Company’s employee benefit plans that are generally available to similarly situated employees of the Company, subject to the terms and conditions of the applicable plans (as in effect from time to time) and to the determinations of any person or committee administering such plans. The Company reserves the right to amend or terminate its employee benefit plans at any time.
The Company will reimburse you for your necessary and reasonable business expenses incurred in connection with performance of your duties. You must promptly submit an itemized account of expenses and appropriate supporting documentation, in accordance with the Company’s generally applicable policies.
a.Employment at Will. Your employment will be “at will,” meaning that either you or the Company are entitled to terminate your employment at any time and for any reason, with or without cause or notice, notwithstanding any contrary representations that may have been made to you. This Agreement will constitute the full and complete understanding between you and the Company on the “at-will” nature of your employment, which may be changed only in a writing signed by you and a duly authorized Company officer.
b.Rights Upon Termination. Upon the termination of your employment for any reason, you will be entitled to: (i) any accrued but unpaid salary through the date of termination, (ii) any unreimbursed business expenses incurred through the date of termination, in accordance with Section 4, and (iii) any vested benefits under the Company’s employee benefit plans, in accordance with the terms and conditions of such plans. You will be eligible to receive severance benefits only to the extent
provided under the Uber Technologies, Inc. 2019 Executive Severance Plan, as amended, or any applicable successor plan (the “Severance Plan”). This Agreement will be considered your “Participation Agreement” within the meaning of the Severance Plan. For the avoidance of doubt, you consent to the change to your base salary pursuant to the terms of this Agreement and you agree that such change shall not constitute “Good Reason” for purposes of the Severance Plan.
This Agreement is contingent upon successful completion of a background check (including checking employment references) and the following conditions and will be null and void (whether or not you have already signed it) if the Company notifies you that the background check was unsatisfactory or if any of the below conditions is not satisfied. Unless and until all such steps have been completed, the offer of employment embodied in this Agreement may be withdrawn (in which case this Agreement will be null and void whether or not you have already signed it) and you should not resign your current employment, otherwise alter your employment status, or alter any personal circumstances in reliance on such offer.
a. Confidentiality Agreement. This Agreement and your commencement of employment are contingent upon the execution, and delivery to an officer of the Company, of the Company’s Confidential Information and Invention Assignment Agreement, a copy of which is enclosed as Attachment A for your review and execution (the “Confidentiality Agreement”), prior to or on your Start Date.
b. Work Authorization. For purposes of federal immigration law, you will be required to provide to the Company documentary evidence of your identity and eligibility for employment in the United States. Such documentation must be provided within three (3) business days of your Start Date, or our employment relationship with you may be terminated. This Agreement and any offer of employment from the Company will be null and void if you are unable to begin work at the Company within a reasonable amount of time (as determined by the Company, in its sole discretion) due to work eligibility issues (e.g., if your request for an employment visa is denied or if an employment visa cannot be obtained within a reasonable amount of time) or export control licensure requirements.
c. Alternative Dispute Resolution Agreement/Arbitration. This Agreement and your commencement of employment is contingent upon the execution, and delivery to an officer of the Company, of the Alternative Dispute Resolution Agreement, a copy of which is enclosed as Attachment B for your review and execution, prior to or on your Start Date. The Alternative Dispute Resolution Agreement is governed by the Federal Arbitration Act (9 U.S.C. § 1 et seq.) and is incorporated by reference into and is part of this Agreement. Therefore, before signing this Agreement, please read the Alternative Dispute Resolution Agreement carefully.
d. Restricted Parties Lists Verification. This Agreement and your commencement of employment or continued employment with the Company are contingent upon verification that you and, if applicable, your affiliated entity/institution, do not appear on any of the Restricted Parties Lists maintained by the U.S. Government that will prevent the Company from transacting (including but not limited to financial transactions) or engaging in certain types of activities with you, directly or indirectly.
e. Foreign National Employee - Export License Determination. If an export control license is required in connection with your employment, this Agreement is contingent upon receipt of the necessary export license and any similar government approvals by the Company’s office where you are based. Your employment may commence only following receipt of such export license and governmental
approvals and is conditioned upon your (a) maintaining your employment with the Company, and (b) continued compliance with all conditions and limitations imposed by such license. If for any reason such export license and governmental approvals cannot be obtained within a commercially reasonable time from your date of signature, this Agreement will be null and void. Additionally, should an export license become necessary at any point following the commencement of your employment, no export-controlled information or materials will be released to you until such license and any similar government approvals are obtained. The Company is not obligated to apply for any export license or other government approval that may be required in connection with your employment, and the Company cannot guarantee that any such license or similar approvals will be granted, if sought.
f. Timely Acceptance. The offer of employment embodied in this Agreement will remain open until the close of business on [DATE]. If you do not indicate your acceptance of the Company’s offer on the terms and conditions set forth in this Agreement by signing, dating, and returning this Agreement no later than that date, or if you do not begin employment on the Start Date, this Agreement will be null and void.]
a.Company’s Successors. The terms of this Agreement will be binding upon any successor (whether direct or indirect and whether by purchase, lease, merger, consolidation, liquidation, or otherwise) to all or substantially all of the Company’s business and/or assets. For all purposes under this Agreement, the term “Company” will include any successor to the Company’s business or assets that becomes bound by this Agreement.
b.Your Successors. This Agreement and all of your rights hereunder will inure to the benefit of, and be enforceable by, your personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees, and legatees.
a.Modifications and Waivers. No provision of this Agreement will be modified, waived, or discharged unless the modification, waiver or discharge is reflected in a writing signed by you (or your authorized representative) and by an authorized officer of the Company (other than you). No waiver by either party of any breach of, or of compliance with, any condition or provision of this Agreement by the other party will be considered a waiver of any other condition or provision or of the same condition or provision at another time.
b.Whole Agreement. No other arrangements, agreements, representations, or understandings (whether oral or written and whether express or implied) which are not expressly set forth in this Agreement have been made or entered into by either party with respect to the subject matter hereof. This Agreement and the exhibits attached hereto contain the entire understanding of the parties with respect to the subject matter hereof and supersede any prior agreements relating to such subject matter (including any prior employment agreements) except the confidentiality and invention assignment agreement previously entered into by you and the Company, any alternative dispute resolution agreement previously entered into by you and the Company (an “Alternative Dispute Resolution Agreement”), any equity or equity-based award agreements, and the Company’s Clawback Policy.
c.Choice of Law and Severability. This Section 7(c) does not apply to any Alternative Dispute Resolution Agreement, and to the extent that this Section 7(c) conflicts with any effective Alternative Dispute Resolution Agreement, the provisions contained in such Alternative Dispute
Resolution Agreement control. Subject to the preceding sentence, this Agreement otherwise shall be interpreted in accordance with the Laws of the State in which you work/last worked, as set forth in Section 1(b), or as otherwise determined from time to time in accordance with applicable Company policy without giving effect to provisions governing the choice of Law, and if any provision of this Agreement becomes or is deemed invalid, illegal, or unenforceable in any applicable jurisdiction by reason of the scope, extent, or duration of its coverage, then such provision shall be deemed amended to the minimum extent necessary to conform to applicable law so as to be valid and enforceable or, if such provision cannot be so amended without materially altering the intention of the parties, then such provision shall be stricken and the remainder of this Agreement shall continue in full force and effect. If any provision of this Agreement is rendered illegal by any present or future statute, law, ordinance, or regulation (collectively, the “Law”) then that provision shall be curtailed or limited only to the minimum extent necessary to bring the provision into compliance with the Law. All the other terms and provisions of this Agreement shall continue in full force and effect without impairment or limitation.
d.No Assignment. This Agreement and all of your rights and obligations hereunder are personal to you and may not be transferred or assigned by you at any time. The Company may assign its rights under this Agreement only to any entity that assumes the Company’s obligations hereunder in connection with any sale or transfer of all or a substantial portion of the Company’s assets to such entity.
e.Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
f.Taxes; Section 409A. All forms of compensation paid to you by the Company, including any payments made pursuant to this Agreement, are subject to reduction (or payment by you, to the extent that additional amounts are required) to reflect applicable withholding and payroll taxes and other applicable deductions. You agree that the Company does not have a duty to design its compensation policies in a manner that minimizes your tax liabilities, and you will not make any claim against the Company related to tax liabilities arising from your compensation. The payments and benefits under this Agreement are intended, and will be construed, to be exempt from or comply with Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”); provided, however, that nothing in this Agreement shall be construed or interpreted to transfer any liability for any tax (including a tax or penalty due as a result of a failure to comply with Section 409A) from you to the Company or to any other entity or person. Any payment to you under this Agreement that is subject to Section 409A and that is contingent on a termination of employment is contingent on a “separation from service” within the meaning of Section 409A. If, upon separation from service, you are a “specified employee” within the meaning of Section 409A, any payment under this Agreement that is subject to Section 409A and triggered by a separation from service that would otherwise be paid within six months after your separation from service will instead be paid in the seventh month following your separation from service or, if earlier, upon your death (to the extent required by Section 409A(a)(2)(B)(i)). Any taxable reimbursement due under the terms of this Agreement shall be paid no later than December 31 of the year after the year in which the expense is incurred, and all taxable reimbursements and in-kind benefits shall be provided in accordance with Section 1.409A-3(i)(1)(iv) of the regulations under Section 409A. The parties agree that if necessary to avoid non-compliance with Section 409A, they will cooperate in good faith to modify the terms of this Agreement or any applicable equity award; provided, that such modification shall endeavor to maintain the economic intent of this Agreement or any such equity award.
To indicate your acceptance of the terms and conditions of this Agreement, please sign and date this Agreement in the space provided below and return it to me.
ACCEPTED AND AGREED:
[FIRST NAME, LAST NAME]
[FIRST NAME, LAST NAME]
Uber Technologies, Inc.