EX-10.8





 Exhibit 10.8 
  


			
	 




	  	One Sansome St. 40th Floor
	  	San Francisco, CA 94104
	  	HR@wish.com

  

CONTEXTLOGIC, INC. 

May 11, 2014 
 Dear
Thomas Chuang: 
 ContextLogic, Inc. (the “Company”) is pleased to offer you employment on the following
terms: 
  

	 	1.	 Position. Your initial title will be Director of Finance, and you will initially report to the
CEO. This is a full-time 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. The Company will pay you a starting salary at the rate of $115,000 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. 



 

	 	3.	 Employee Benefits. 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 time off in accordance with the Company’s paid time off policy, as in effect from time to time. A copy of the current paid time off policy is attached hereto as
Exhibit B. In addition, you will be eligible to participate in the Company’s group health insurance plan, a description of which is attached hereto as Exhibit C. No guarantee is made as to the continuation of this group health
insurance plan or any other. 


  

	 	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 32,500 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 2010 Stock Plan (the “Plan”), as described in the Plan and the applicable Stock Option
Agreement. You will vest in 20% of the Option shares after 12 months of continuous service, and the balance will vest in equal monthly installments over the next 48 months of continuous service, as described in the applicable Stock Option Agreement.



  

	 	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. 



  
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	  		  	One Sansome St. 40th Floor
	  		  	San Francisco, CA 94104

  

 


	 	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 California 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 San Francisco County in connection with any
Dispute or any claim related to any Dispute. 


 * * * * * 

  
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	  		  	One Sansome St. 40th Floor
	  		  	San Francisco, CA 94104

  

 

 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 May 26, 2014. 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. 
 If you have any questions, please call me at
650-469-3507. 
  

			
	 Very truly yours,

	
	 CONTEXTLOGIC, INC.

		
	 By:
	 	 /s/ Peter Szulczewski

	 Name: Peter Szulczewski

	 Title: CEO



 I have read and accept this employment offer: 

 

	
	 /s/ Thomas Chuang

	 Signature of Employee



 

			
	 Dated:
	 	 May 12, 2014


 Attachment 
 Exhibit A:
Proprietary Information and Inventions Agreement 
 Exhibit B: Paid Time Off Policy 

Exhibit C: Description of Company’s Group Health Insurance Plan 

  
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