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  Employee Offer Letter

Document Templates


Employee Offer Letter
1.4  Employee Offer Letter v1.4
Public   Published   master   master  (owner)
Permalink: https://valcu.co/users/master/doc_templates/employee-offer-letter-14
Created: July 21, 2015 9:37:52 EDT | Last modified: October 2, 2015 10:22:48 EDT
 

Hello! You can view the document template below.

If you would like to generate a document based on this template, click on the Generator tab, complete the inputs and click the Generate button. Note that the inputs are not saved until you generate the document. You can also re-generate the document again after the document has been generated, to change the inputs.



Are these shares be subject to vesting?
 

Select a vesting schedule


Check yes if you want to type in your own vesting schedule instead

Clearly describe the schedule to be used in the vesting agreement


Will a portion of these shares be immediately vested?

Initial Vested Share Percent

You can set a percentage of the shares that will immediately vest / that are not subject to vesting (this is unusual)


Does this vesting schedule have a cliff?

The number of periods (months) that will need to be completed before any vesting is achieved (aka, the Cliff)

Select a period type for the cliff

Vesting Cliff Percent


Does this vesting schedule have periodic vesting (e.g., monthly)?

The number of periods (months) that the shares will vest over after the Cliff

Select a period type (month) for the remaining periods

Vesting Periodic Percentage


Do the shares have acceleration of vesting in the case of an acquisition or this founder is terminated?
 

Select a type of acceleration


Check here if you want to type in your own acceleration schedule instead

Clearly describe the acceleration schedule to be used in the vesting agreement

Select a type of acceleration trigger

Set the number of periods (months) that will be added to the vesting if this acceleration is triggered

Set the number of periods (months) that will be added to the vesting if this acceleration is triggered

Set the number of periods (months) that will be added to the vesting if this acceleration is triggered

Select a period type (month) for any acceleration


Does this acceleration schedule have a Single Trigger (Involuntary Termination)?

Does this acceleration schedule have a Single Trigger (Change of Control)?

Does this acceleration schedule have a Single Trigger (Change of Control) and Double Trigger?

Does this acceleration schedule have a Double Trigger?

THIS FIELD HAS BEEN PRE-SET AND IS NOT EDITABLE ON THIS PAGE. (Total number of years over which the shares vest)


Is this a form template to be downloaded and filled out later?

Date of offer letter

Exact Legal Name of the Company

Street address of the company

City, State and Zip (and Country) address of the company

Name of the employee

Street address of the employee

City, State and Zip (and Country) address of the employee

Employee's title/role at the company

Title of the person (or body) that the employee will report to


Is this a part-time role (rather than full-time)?

Will the pay for this employee be hourly (rather than salaried)?

Employee's pay per hour (before withholdings). Consider minimimum wage laws.

Employee's initial annual salary (excluding any bonuses)


Will the employee be included in Company benefit programs?

Date the offer letter expires if hasn't yet been accepted by the employee.

Date that the employee must start by.

Telephone number where the employee can call the company with questions about the employee's offer letter

State law to govern the agreement


Will this employee have founder stock with vesting?

Will options be granted to the employee?

Number of options to this person


Will any option grant be made under a future equity plan (e.g., because the Company doesn't currently have one)?

The year of the Company's option plan. This will be the year the option plan is originally adopted by the Company's Board of Directors.


Do you want to detail the vesting schedule in this consulting agreement (otherwise the vesting would be separately included/negotiated in an option grant agreement)?
Vesting Schedule and Acceleration
Carefully complete the vesting schedule and any acceleration provisions if the offer letter will include an option grant. (You can skip this if you only wish to generate a form or if the offer letter only incudes founder stock vesting.)
 
 

V_FIELD_COMPANY_NAME_UPCASE
V_FIELD_COMPANY_STREET_ADDRESS
V_FIELD_COMPANY_CITY_STATE_ZIP

v_field_form_copy
[Date]

[Employee Name]
[Employee Street]
[Employee City, State Zip]

Dear [Employee Name]:

v_field_else
v_field_agmt_date

v_field_employee_name
v_field_employee_street_address
v_field_employee_city_state_zip

Dear v_field_employee_name:
v_field_end

v_field_company_name (the “Company”) is pleased to offer you employment on the following terms:

1. Position. Your initial title will be v_field_form_copy _________, v_field_else v_field_employee_title, v_field_end and you will initially report to the Company’s v_field_form_copy __________. v_field_else v_field_reporting_title. v_field_end This is a v_field_form_copy [full][part]-time v_field_else v_field_part_time_applicability part-time v_field_else full-time v_field_end v_field_end position. While you render services to the Company, you will not engage in any other employment, consulting or other business activity (whether full time or part-time) that would create a conflict of interest with the Company. By signing this letter agreement, you confirm to the Company that you have no contractual commitments or other legal obligations that would prohibit you from performing your duties for the Company.

2. Cash Compensation. v_field_form_copy [The Company will pay you a starting hourly wage of $_______, less all applicable withholdings, payable in accordance with the Company’s standard payroll schedule.][The Company will pay you a starting salary at the rate of $_______ per year, payable in accordance with the Company’s standard payroll schedule. This salary will be subject to adjustment pursuant to the Company’s employee compensation policies in effect from time to time.] v_field_else v_field_hourly_wage_applicability The Company will pay you a starting hourly wage of v_field_hourly_wage, less all applicable withholdings, payable in accordance with the Company’s standard payroll schedule. v_field_else The Company will pay you a starting salary at the rate of v_field_annual_salary per year, payable in accordance with the Company’s standard payroll schedule. This salary will be subject to adjustment pursuant to the Company’s employee compensation policies in effect from time to time. v_field_end v_field_end

3. Employee Benefits. v_field_form_copy [As a regular employee of the Company, you will be eligible to participate in a number of Company-sponsored benefits. In addition, you will be entitled to paid vacation in accordance with the Company’s vacation policy, as in effect from time to time.][You will not be eligible to participate in any Company-sponsored benefits.] v_field_else v_field_benefits_applicability As a regular employee of the Company, you will be eligible to participate in a number of Company-sponsored benefits. In addition, you will be entitled to paid vacation in accordance with the Company’s vacation policy, as in effect from time to time. v_field_else You will not be eligible to participate in any Company-sponsored benefits. v_field_end v_field_end

v_field_form_copy
[4. Stock Options. Subject to the approval of the Company’s Board of Directors or its Compensation Committee, you will be granted an option to purchase [XX] shares of the Company’s Common Stock (the “Option”). The exercise price per share of the Option will be determined by the Board of Directors or the Compensation Committee when the Option is granted. The Option will be subject to the terms and conditions applicable to options granted under the Company’s 20__ Stock Plan (the “Plan”), as described in the Plan and the applicable Stock Option Agreement. You will vest in [XX]% of the Option shares after [XX] months of continuous service, and the balance will vest in equal monthly installments over the next [XX] months of continuous service, as described in the applicable Stock Option Agreement.]
v_field_else
4. v_field_founder_stock_vesting_applicability Equity. v_field_else v_field_options_applicability Stock Options. v_field_else [RESERVED] v_field_end v_field_end v_field_options_applicability Subject to the approval of the Company’s Board of Directors or its Compensation Committee, you will be granted an option to purchase v_field_number_options shares of Company’s Common Stock (the “Option”). The exercise price per share of the Option will be determined by the Board of Directors or the Compensation Committee when the Option is granted. The Option will be subject to the terms and conditions applicable to options granted under v_field_future_plan_applicability a stock plan and stock option agreement to be approved by the Company’s Board of Directors v_field_else the Company’s v_field_plan_year Stock Plan v_field_end (the “Plan”), as described in the Plan and the applicable Stock Option Agreement. v_field_include_vesting_applicability v_field_vesting_applicability v_field_custom_vesting_applicability v_field_custom_vesting v_field_else v_field_initial_vested_shares_applicability You will immediately vest in v_field_vested_shares_initial_perc of the Option when you begin your services after the Effective Date. v_field_end v_field_vesting_cliff_applicability You will vest in v_field_vesting_cliff_perc of the Option after v_field_vesting_cliff_periods v_field_vesting_cliff_period_type_ambipluralize of continuous service after the Effective Date. v_field_end v_field_vesting_periodic_applicability You will vest in v_field_vesting_periodic_perc of the Option when you complete each v_field_vesting_periodic_period_type of continuous v_field_vesting_cliff_applicability service thereafter. v_field_else service after the Effective Date. v_field_end v_field_end v_field_end v_field_else The Option shall be fully vested when you begin your services after the Effective Date. v_field_end v_field_accel_applicability v_field_custom_accel_applicability v_field_custom_accel v_field_else v_field_single_trigger_applicability In addition, if you are subject to an involuntary termination, then the Option vesting shall be determined by adding v_field_vesting_accel_single_trigger_periods v_field_vesting_accel_period_type_ambipluralize to, and deeming as part of, the number of periods of continuous service completed upon the date of such involuntary termination. v_field_end v_field_single_trigger_coc_applicability In addition, if the Company is subject to a change in control before your service terminates, then the Option vesting shall be determined by adding v_field_vesting_accel_single_trigger_coc_periods v_field_vesting_accel_period_type_ambipluralize to, and deeming as part of, the number of periods of continuous service completed upon the date of such change in control. v_field_end v_field_single_trigger_coc_and_double_trigger_applicability In addition, if the Company is subject to a change in control before your service terminates, then the Option vesting shall be determined by adding v_field_vesting_accel_single_trigger_coc_periods v_field_vesting_accel_period_type_ambipluralize to, and deeming as part of, the number of periods of continuous service completed upon the date of such change in control. In addition, if the Company is subject to a change in control before your service terminates and you are subject to an involuntary termination within 12 months after the change in control, then the Option vesting shall be determined by adding v_field_vesting_accel_double_trigger_periods v_field_vesting_accel_period_type_ambipluralize to, and deeming as part of, the number of periods of continuous service completed upon the date of such involuntary termination. v_field_end v_field_double_trigger_applicability In addition, if the Company is subject to a change in control before your service terminates and you are subject to an involuntary termination within 12 months after the change in control, then the Option vesting shall be determined by adding v_field_vesting_accel_double_trigger_periods v_field_vesting_accel_period_type_ambipluralize to, and deeming as part of, the number of periods of continuous service completed upon the date of such involuntary termination. v_field_end The definitive terms of the Option shall be set forth in the applicable Stock Option Agreement. v_field_end v_field_end v_field_end v_field_end v_field_founder_stock_vesting_applicability v_field_options_applicability In addition, you v_field_else You v_field_end will vest in Common Stock of the Company as set forth, and in accordance with the terms, in the Stock Purchase Agreement between the Company and you entered into on or about the date hereof and in connection herewith. v_field_end
v_field_end

5. Proprietary Information and Inventions Agreement. Like all Company employees, you will be required, as a condition of your employment with the Company, to sign the Company’s standard Proprietary Information and Inventions Agreement, a copy of which is attached hereto as Exhibit A.

6. Employment Relationship. Employment with the Company is for no specific period of time. Your employment with the Company will be “at will,” meaning that either you or the Company may terminate your employment at any time and for any reason, with or without cause. Any contrary representations that may have been made to you are superseded by this letter agreement. This is the full and complete agreement between you and the Company on this term. Although your job duties, title, compensation and benefits, as well as the Company’s personnel policies and procedures, may change from time to time, the “at will” nature of your employment may only be changed in an express written agreement signed by you and a duly authorized officer of the Company (other than you).

7. Tax Matters.

(a) Withholding. All forms of compensation referred to in this letter agreement are subject to reduction to reflect applicable withholding and payroll taxes and other deductions required by law.

(b) Tax Advice. You are encouraged to obtain your own tax advice regarding your compensation from the Company. 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 or its Board of Directors related to tax liabilities arising from your compensation.

8. Interpretation, Amendment and Enforcement. This letter agreement and Exhibit A constitute the complete agreement between you and the Company, contain all of the terms of your employment with the Company and supersede any prior agreements, representations or understandings (whether written, oral or implied) between you and the Company. This letter agreement may not be amended or modified, except by an express written agreement signed by both you and a duly authorized officer of the Company. The terms of this letter agreement and the resolution of any disputes as to the meaning, effect, performance or validity of this letter agreement or arising out of, related to, or in any way connected with, this letter agreement, your employment with the Company or any other relationship between you and the Company (the “Disputes”) will be governed by v_field_governing_law_state law, excluding laws relating to conflicts or choice of law. You and the Company submit to the exclusive personal jurisdiction of the federal and state courts located in v_field_governing_law_state in connection with any Dispute or any claim related to any Dispute.

v_field_form_copy [Name] v_field_else v_field_employee_name v_field_end
v_field_form_copy [Date] v_field_else v_field_agmt_date v_field_end
Page 3

* * * * *
v_field_doc_template_id | v_field_file_store_id
3
v_field_doc_template_id | v_field_file_store_id
We hope that you will accept our offer to join the Company. You may indicate your agreement with these terms and accept this offer by signing and dating both the enclosed duplicate original of this letter agreement and the enclosed Proprietary Information and Inventions Agreement and returning them to me. This offer, if not accepted, will expire at the close of business on v_field_form_copy [Expire Date]. v_field_else v_field_expire_date. v_field_end As required by law, your employment with the Company is contingent upon your providing legal proof of your identity and authorization to work in the United States. Your employment is also contingent upon your starting work with the Company on or before v_field_form_copy [Latest Start Date]. v_field_else v_field_latest_start_date. v_field_end

If you have any questions, please call me at v_field_form_copy [Work Telephone]. v_field_else v_field_company_telephone. v_field_end

Very truly yours,

V_FIELD_COMPANY_NAME_UPCASE

v_sig_company_chained_titled

v_field_else
By: _________________________
Name: ________________________
Title: ________________________
v_field_end

I have read and accept this employment offer:


v_sig_employee_named_dated

v_field_else
_____________________________
Signature of Employee

Dated: ______________________
v_field_end

Attachment
Exhibit A: Proprietary Information and Inventions Agreement
v_field_doc_template_id | v_field_file_store_id
      
v_field_company_name_upcase
v_field_company_street_address
v_field_company_city_state_zip
v_field_form_copy
v_field_else
├── v_field_agmt_date
├── v_field_employee_name
├── v_field_employee_street_address
├── v_field_employee_city_state_zip
└── v_field_employee_name
v_field_end
v_field_company_name
v_field_form_copy
v_field_else
└── v_field_employee_title
v_field_end
v_field_form_copy
v_field_else
└── v_field_reporting_title
v_field_end
v_field_form_copy
v_field_else
├── v_field_part_time_applicability
├── v_field_else
└── v_field_end
v_field_end
v_field_form_copy
v_field_else
├── v_field_hourly_wage_applicability
│   └── v_field_hourly_wage
├── v_field_else
│   └── v_field_annual_salary
└── v_field_end
v_field_end
v_field_form_copy
v_field_else
├── v_field_benefits_applicability
├── v_field_else
└── v_field_end
v_field_end
v_field_form_copy
v_field_else
├── v_field_founder_stock_vesting_applicability
├── v_field_else
│   ├── v_field_options_applicability
│   ├── v_field_else
│   └── v_field_end
├── v_field_end
├── v_field_options_applicability
│   ├── v_field_number_options
│   ├── v_field_future_plan_applicability
│   ├── v_field_else
│   │   └── v_field_plan_year
│   ├── v_field_end
│   ├── v_field_include_vesting_applicability
│   │   ├── v_field_vesting_applicability
│   │   │   ├── v_field_custom_vesting_applicability
│   │   │   │   └── v_field_custom_vesting
│   │   │   ├── v_field_else
│   │   │   │   ├── v_field_initial_vested_shares_applicability
│   │   │   │   │   └── v_field_vested_shares_initial_perc
│   │   │   │   ├── v_field_end
│   │   │   │   ├── v_field_vesting_cliff_applicability
│   │   │   │   │   ├── v_field_vesting_cliff_perc
│   │   │   │   │   ├── v_field_vesting_cliff_periods
│   │   │   │   │   └── v_field_vesting_cliff_period_type_ambipluralize
│   │   │   │   ├── v_field_end
│   │   │   │   ├── v_field_vesting_periodic_applicability
│   │   │   │   │   ├── v_field_vesting_periodic_perc
│   │   │   │   │   ├── v_field_vesting_periodic_period_type
│   │   │   │   │   ├── v_field_vesting_cliff_applicability
│   │   │   │   │   ├── v_field_else
│   │   │   │   │   └── v_field_end
│   │   │   │   └── v_field_end
│   │   │   └── v_field_end
│   │   ├── v_field_else
│   │   ├── v_field_end
│   │   ├── v_field_accel_applicability
│   │   │   ├── v_field_custom_accel_applicability
│   │   │   │   └── v_field_custom_accel
│   │   │   ├── v_field_else
│   │   │   │   ├── v_field_single_trigger_applicability
│   │   │   │   │   ├── v_field_vesting_accel_single_trigger_periods
│   │   │   │   │   └── v_field_vesting_accel_period_type_ambipluralize
│   │   │   │   ├── v_field_end
│   │   │   │   ├── v_field_single_trigger_coc_applicability
│   │   │   │   │   ├── v_field_vesting_accel_single_trigger_coc_periods
│   │   │   │   │   └── v_field_vesting_accel_period_type_ambipluralize
│   │   │   │   ├── v_field_end
│   │   │   │   ├── v_field_single_trigger_coc_and_double_trigger_applicability
│   │   │   │   │   ├── v_field_vesting_accel_single_trigger_coc_periods
│   │   │   │   │   ├── v_field_vesting_accel_period_type_ambipluralize
│   │   │   │   │   ├── v_field_vesting_accel_double_trigger_periods
│   │   │   │   │   └── v_field_vesting_accel_period_type_ambipluralize
│   │   │   │   ├── v_field_end
│   │   │   │   ├── v_field_double_trigger_applicability
│   │   │   │   │   ├── v_field_vesting_accel_double_trigger_periods
│   │   │   │   │   └── v_field_vesting_accel_period_type_ambipluralize
│   │   │   │   └── v_field_end
│   │   │   └── v_field_end
│   │   └── v_field_end
│   └── v_field_end
├── v_field_end
├── v_field_founder_stock_vesting_applicability
│   ├── v_field_options_applicability
│   ├── v_field_else
│   └── v_field_end
└── v_field_end
v_field_end
v_field_governing_law_state
v_field_governing_law_state
v_field_form_copy
v_field_else
└── v_field_expire_date
v_field_end
v_field_form_copy
v_field_else
└── v_field_latest_start_date
v_field_end
v_field_form_copy
v_field_else
└── v_field_company_telephone
v_field_end
v_field_company_name_upcase
v_sig_company_chained_titled
v_field_else
v_field_end
v_sig_employee_named_dated
v_field_else
v_field_end
v_field_doc_template_id
v_field_file_store_id
v_field_doc_template_id
v_field_file_store_id
v_field_doc_template_id
v_field_file_store_id
v_field_form_copy
v_field_else
└── v_field_employee_name
v_field_end
v_field_form_copy
v_field_else
└── v_field_agmt_date
v_field_end
      
    
Access
Public
Description
Employee Offer Letter v1.4
Notes
None.
License
Not specified
License Detail
Not specified
Disclaimer
Not specified

INSTRUCTIONS:

1. Who signs? This document should be signed by an officer of the company and the employee.

2. Can this document be signed electronically? Yes.

3. Who gets copies? Add the agreement to the company's corporate records and provide the employee a copy.

4. Attachments? When I file with the company's corporate records, should I add copies of the documents referenced as attachments? Yes.

5. Filings? Be sure to comply with any filing requirements with federal and state employment and tax authorities, employment authorization and immigration authorities (e.g., http://www.uscis.gov/e-verify), insurance, benefits and payroll providers, etc.