Document:

michaelcurtisofferletter

989 Market St., San Francisco CA 94103  Zendesk, Inc  January 21, 2022  Michael Curtis  Delivered by email  Dear Mike:  On behalf of Zendesk, Inc. (the “Company”), I am pleased to offer you employment  with the Company.  This letter outlines the terms for your employment.    Position:  Your initial position with the Company will be Interim Chief Engineering  Officer.  This is a temporary, full time, exempt position reporting to Mikkel Svane, Chief  Executive Officer.  Start Date:  Unless we arrange separately, your first day of employment will be on  January 24, 2022, subject to the satisfactory completion by the Company of your  background check, credentials and references, and we expect your employment to end on  January 16, 2023.   Salary:  The Company will pay you an annual salary of $70,000, paid bi-weekly  during your employment, and subject to periodic review and adjustments at the discretion  of the Company.  Your salary and other compensation will be subject to applicable  deductions and withholdings.   RSU Award:  You will be eligible to participate in the Company’s equity incentive  program, subject to approval by the Company’s Board of Directors (“Board”).  We will  recommend to the Board, or a delegate of the Board, that you be granted Restricted Stock  Units (“RSUs”) for shares of the Company’s Common Stock representing a targeted current  value of $2,250,000.  Further information regarding the methodology that will be used to  calculate the actual number of shares is available by request.  Your RSUs will vest over a  one-year vesting schedule, subject in each case to your continuous service to the Company  through each vesting date. The terms and conditions associated with any RSUs granted to  you, including vesting and other conditions, will be governed by the Company’s 2014 Stock  Option and Incentive Plan (the “Plan”) and any associated restricted stock unit award  agreement that you may be required to enter with the Company.   Option Award:  In addition to RSUs, we believe that options provide an effective way  to tie equity incentive compensation to stock price.  We will recommend to the Board, or a  delegate of the Board, that you be granted an option (“Option”) to purchase shares of the  Company’s Common Stock representing a value of $2,250,000 (the “Value”).  Further  Exhibit 10.17 

 

          information regarding the methodology that will be used to calculate the actual number of  shares is available by request. The exercise price per share of the Option will be the closing  price of the Common Stock as listed on the NYSE on the effective date of grant of the  Option, as approved by the Board.  Your Option will vest over a one-year vesting schedule,  subject in each case to your continuous service to the Company through each vesting date.  The terms and conditions associated with any Option granted to you, including vesting and  other conditions, will be governed by the Company’s 2014 Stock Option and Incentive Plan  (the “Plan”) and any associated stock option agreement that you may be required to enter  with the Company.    Acceleration of the Vesting of Equity:  You will be eligible to participate in the  Company’s Change in Control Acceleration Plan (the “Acceleration Plan”). The Acceleration  Plan provides for the acceleration of the vesting of a participant’s RSUs and stock options in  the event that the participant’s provision of services to the Company is terminated under  certain circumstances following a change in control of the Company, subject to the terms  and conditions set forth in the Acceleration Plan. The full text of the Acceleration Plan is  available for your review.  Benefits:  You will be eligible to participate in the employee benefits and insurance  programs generally made available to employees at your level, including health, dental, life  and disability insurance, subject to the terms and conditions of those plans and programs,  which may be modified from time to time.  Details of these benefits programs, including  mandatory employee contributions, will be made available to you when you start.  You will  be eligible to participate in our “Take What You Need” Vacation Policy. The Company  reserves the right to change and/or modify its benefits offerings at any time.  Representation Regarding Other Obligations:  This offer is contingent on your  representation that you are not subject to any confidentiality, non-competition agreement or  a similar type of restriction that may affect your ability to devote full time and attention to  your work at Zendesk.  If you have entered into any agreement that may limit your ability to  work on behalf of the Company, please provide the Company with a copy of such  agreement as soon as possible.  Other Terms:  Your employment with the Company shall be on an at-will basis.  In  other words, you or the Company may terminate employment for any reason and at any  time, with or without notice.  Similarly, the terms of employment outlined in this letter are  subject to change at any time provided that the at-will nature of your employment may not  be altered except by a formal writing signed by the Company’s Chief Executive Officer.   By accepting this offer of employment, you agree that, throughout your employment  with the Company, you will devote your entire working time for the benefit of the Company,  perform your duties loyally and conscientiously, and to the full extent of your ability. You  also agree to observe all rules and regulations that the Company has, or may establish,  governing the conduct of its business or its employees. The Company is an equal  

 

          opportunity employer, and prides itself and believes in the full worth and value of its diverse  workforce. The Company does not tolerate any form of harassment, discrimination, or  retaliation, and fully enforces its policies protecting all employees from such, including  sexual harassment.  Arbitration and Nondisclosure Agreements: This offer of employment is conditioned  on you signing and returning the Company’s standard Confidentiality and Invention  Assignment Agreement, attached as Exhibit A, and the Company's standard Mutual  Agreement to Arbitrate Claims, attached as Exhibit B (collectively, “Employee Agreements”).   You must return these signed documents to us before your first date of employment.  Work Authorization:  As with all employees, our offer to you is contingent on your  submission of satisfactory proof of your identity and your legal authorization to work in the  United States. You will be required to complete Form I-9 in accordance with the Immigration  Reform and Control Act of 1986.  You are required to complete Section 1 of the Form I-9 on  or before your first day of employment and to present, within 72 hours of hire, verification of  your identity and legal right to work in the United States.  On your first day of employment,  bring original documents to verify your employment eligibility - please refer to the I-9 form  for the list of acceptable documents.  U.S. Vaccination Policy: Consistent with Zendesk’s emphasis on employee wellness  and our shared interest in public health, Zendesk requires all U.S. employees to provide  proof of full vaccination against COVID-19. Zendesk will consider accommodations for  reasons recognized by applicable law. Zendesk prohibits discrimination and will not tolerate  discrimination based on a person’s disability, physical or mental conditions, religion, or any  other status protected by law. Failure to comply with Zendesk’s vaccine requirement will  lead to discipline, up to and including being placed on unpaid leave or terminated.     This offer letter is governed by the law of the state where your job will be located.   The terms set forth in this letter and in the enclosures are intended to and do supersede all  and any prior employment agreements, understandings and verbal or written  representations between the Company and you concerning the terms of your employment  with the Company. All such prior agreements, understandings and promises are null and  void.  We are excited about the opportunity to work with you at Zendesk, Inc.  If you have  any questions about this information, please do not hesitate to call.  Otherwise, please  confirm your acceptance of this offer of employment by signing below and returning a copy.   We are confident that with your background and skills, you will have an immediate positive  impact on our organization.      Very truly yours,      

 

Mikkel Svane  Chief Executive Officer  I have reviewed this offer letter and accept its terms.  I also have reviewed the Mutual  Agreement to Arbitrate, and the Confidentiality and Invention Assignment Agreement.  I  also understand that either Zendesk, Inc. or I may end the employment relationship at any  time, with or without cause, and with or without notice.  Signature: /s/ Michael Curtis ______________________________   Michael Curtis Datedeathandleaveofabsencepo

ZENDESK, INC. DEATH AND LEAVE OF ABSENCE POLICY The Compensation Committee (the “Committee”) of the Board of Directors of Zendesk, Inc. (the “Company”) hereby adopts a Death and Leave of Absence Policy (the “Policy”) as follows: (1) upon the termination of an employee’s or non-employee director’s employment or other service relationship with the Company due to death, (i) any equity awards (i.e., stock options and restricted stock units) (“Equity Awards”) that vest solely based on continued service to the Company (including any PSUs (as defined below) for which the performance conditions have been attained and which now only vest solely based on continued service to the Company) (“Time Awards”) and that are outstanding and held by such individual immediately prior to such individual’s death, shall accelerate and vest effective on the date of death, in an amount up to $1,000,000 in Value for a Non-Section 16 Officer and in an amount up to $3,000,000 in Value for a Section 16 Officer, with such Value first being applied to outstanding restricted stock unit awards (beginning with the oldest grant date) and then outstanding stock option awards (beginning with the oldest grant date); (ii) any Equity Awards that vest based on the achievement of performance metrics (“PSUs”) and that are outstanding and held by such individual immediately prior to such individual’s death will remain outstanding and eligible to performance vest in accordance with their terms and conditions based upon achievement of the applicable performance condition and subject to the Company’s certification of the performance metric attainment in accordance with the terms and conditions of such award; provided that any service-based vesting requirements shall be deemed accelerated and vested on the applicable date that the performance metrics are determined to be achieved by the Committee in an amount up to the remaining Value that is leftover and unused after giving effect to the acceleration of Time Awards above, and (iii) if the individual is an employee that is eligible to receive an annual target bonus, such individual shall be eligible to receive a pro-rata portion of their target annual bonus (if applicable), to be paid out within 60 days after the individual’s date of termination due to death; provided, however, that if the 60-day period begins in one calendar year and ends in a second calendar year, such amount shall be paid in the second calendar year by the last day of such 60-day period; and (2) upon an employee’s unpaid leave of absence, unless otherwise required by statute, contract or if the Company otherwise so provides in writing, the service-based vesting for any of the individual’s outstanding Equity Awards that vest solely or in part based on continued service to the Company shall be paused, commencing on the 30th day of such unpaid leave of absence through the 30th day following the employee’s recommencement of services to the Company (at which point vesting shall resume). For purposes of this Policy: “Non-Section 16 Officer” means an individual that is not a Section 16 Officer. 

 

“Section 16 Officer” means an “officer” as defined under Section 16 of the Securities Exchange Act of 1934, as amended. “Value” will convert into a number of shares calculated by dividing the dollar value by the closing market price on the New York Stock Exchange (or such other market on which the Company’s common stock is then principally listed) of one share of the Company’s common stock on the day prior to the termination of the employee’s or non-employee director’s employment or other service relationship with the Company due to death. This Policy shall be applicable to all outstanding Equity Awards previously granted to employees and non-employee directors under the 2014 Stock Option and Incentive Plan (the “Plan”) (including stock options, restricted stock unit awards and PSUs) as of the date of adoption of this Policy, as well as all stock options, restricted stock unit awards and PSUs granted to employees and non-employee directors after the date of adoption of this Policy and for so long as this Policy remains in effect. To the fullest extent applicable, amounts and other benefits under this Policy are intended to be exempt from the definition of “nonqualified deferred compensation” under Section 409A of the Internal Revenue Code of 1986, as amended, and the regulations thereunder (“Section 409A”) in accordance with one or more of the exemptions available under the final Treasury Regulations promulgated under Section 409A and, to the extent that any such amount or benefit is or becomes subject to Section 409A due to a failure to qualify for an exemption from the definition of nonqualified deferred compensation in accordance with such final Treasury regulations, this Policy is intended to comply with the applicable requirements of Section 409A with respect to such amounts or benefits. Furthermore, a termination of employment will be determined consistent with the rules relating to a “separation from service” as defined in Section 409A. Notwithstanding anything else provided herein, to the extent any payments provided under this Policy in connection with the individual’s termination of employment constitute deferred compensation subject to Section 409A, and the individual is deemed at the time of such termination of employment to be a “specified employee” under Section 409A, then such payment shall not be made or commence until the earlier of (i) the expiration of the 6-month period measured from such individual’s separation from service from the Company or (ii) the date of such individual’s death following such a separation from service; provided, however, that such deferral shall only be effected to the extent required to avoid adverse tax treatment to the individual including, without limitation, the additional tax for which the individual would otherwise be liable under Section 409A(a)(1)(B) in the absence of such a deferral. Payments pursuant to this Policy are intended to constitute separate payments for purposes of Section 1.409A-2(b)(2) of the Treasury Regulations. The Committee shall have the exclusive authority to interpret, amend or revoke this Policy in its sole and absolute discretion. All determinations of the Committee under this Policy shall be binding on all persons. The Committee has the exclusive authority to terminate this Policy at any time in its sole and absolute discretion. Effective Date:  January 31, 2022

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