Document:

Offer Letter

 Exhibit 10.3 
 September 24, 2008 
 Mr. Donald J. Wadas 
 21 Bear Path 
 Hampton, NH 03842 
 Dear Don:

 It is a distinct pleasure to offer you the position of Senior Vice President of Worldwide Field Operations with Soapstone Networks, Inc. (the
“Company”). In this capacity you will report to Mr. William Leighton, President and Chief Executive Officer. Your starting bi-weekly base salary will be $8,076.93, which annualized is $210,000.18. 
 During your employment you will be eligible to participate in a Sales Incentive Plan (the “Plan”) to be formally developed and approved by the Board of
Directors within the next six (6) months, with a target of 100% of base annually. For the first six months you will be eligible for the following: (i) a one-time bonus of $35,000 (the “Bonus”) to be paid within the first 30 days
of your employment and (ii) a non-recoverable draw equal to $70,000 (the “Draw”) to be paid pro-rata with your bi-weekly payroll over the six month period from your hire date. After such six month period, incentives will be based and
paid solely under the terms and scope of the Plan and sales revenue attained. Half of the Bonus and Draw, or $52,500, will be considered payment against your 2009 Sales Incentive under the Plan. If you voluntarily terminate from the company within
the first six months of employment, you will be required to pay back all Bonus and Draw amounts received. The Plan, once implemented, may be varied from time to time at the sole discretion of the Company, and the targets, and sales quotas are likely
to vary from year to year. 
 In your role, you will be considered an “executive officer” of the Company as that term is used in rules and
regulations proscribed by the Securities and Exchange Commission (the “SEC”). Consequently, you will be responsible for compliance with all SEC rules and regulations applicable to executive officers. 
 You will also be granted an option to purchase 100,000 shares of Soapstone Networks, Inc. Common Stock with an exercise price per share equal to the fair market value of
the Soapstone Common stock on the date of grant. The stock will vest over four years at 25% per year. After your first anniversary, the remaining shares vest on a per month basis of 2.0833%. All stock grants are subject to the terms and
conditions of the Corporation’s 2008 Global Stock Plan and subject to approval by the Board of Directors. 
 You will be covered for six (6) months
of severance base pay and benefits and receive certain accelerated vesting of stock options in the event of a termination of your employment by the Company without cause, all as under the terms of the attached severance agreement. 
 The Company strives to offer a competitive employee benefit program. Your participation in this program will be subject to the standard eligibility requirements for all
Soapstone employees. Soapstone’s benefits are described in the enclosed document titled “Employee Benefits Programs 2008”. The Company offers three medical insurance plans to choose from, Blue Cross/Blue Shield of New England-HMO,
Blue Cross and Blue Shield HMO Enhanced Value and Blue Cross/Blue Shield-PPO. Other benefits include Delta Dental plan with orthodontia coverage, a 401(k) Savings and Retirement Plan with a company match, pre-tax medical and dependent care programs,
VSP vision plan, life insurance, supplemental life insurance, short and long-term disability benefits, an Employee Stock Purchase Plan, a legal assistance program, and other optional programs. Soapstone also offers vacation (accrued up to 15 days)
and holidays (10 days plus 1 floater). Please note that the Company reserves the right to change, modify or discontinue any of its current benefits plans, providers and policies in the future. 

 Please plan on arriving promptly at 9:00 a.m. at the Concord Road facility on your first day of employment for Benefits
Orientation with a member of the Human Resources group. Bill Leighton will be available following orientation to assist you with your initial introduction and assimilation to Soapstone. 
 In accordance with federal law, you will be asked to provide documentation proving your eligibility to work in the United States. Please bring proper documentation on your first day of work. This can be a U.S.
Passport or a driver’s license and a U. S. birth certificate or U. S. Social Security card. Please refer to I-9 Form enclosed for all other types of acceptable documentation. 
 Please confirm your acceptance of this employment offer by signing one copy of this letter, which will indicate your acceptance of our offer as well as your anticipated start date and return it to me. If you wish to
fax a copy to me, please send directly to my office at 978-715-2397. 
 Please understand that this offer does not constitute a contract of employment for
any particular period or a guarantee of continued employment. Our relationship is one of voluntary employment, “at will”. While we hope our relationship will be mutually beneficial, it should be recognized that you will retain your right
to terminate your employment at any time for any reason and that the Company will retain the same right. In accepting this offer, you represent that you have not relied upon any agreements or representations, written or oral, express or implied,
with respect to your employment that are not expressly set forth in this letter. 
 Employment with Soapstone Networks is subject to your signing the
Invention, Non-disclosure and Non-Compete Agreement. Note that this Agreement is enclosed for your review prior to accepting this offer. 
 This offer
expires as of the close of business on Monday, September 29, 2008. This offer supercedes all prior offers, both verbal and written. 
 Don, we are very
pleased by the prospect of your joining the Soapstone team and we are sure that you will play an important role in the future success of the Company. 
 Sincerely, 
 Diane Brown 
 Director, Human Resources

 I have carefully reviewed this offer of employment and agree that it sets forth the entire understanding between the Company and me. I also understand
that my employment at the Company is “at-will” which means that either the Company or I can terminate the employment relationship at any time, either with or without cause or notice. 
  

							
	 Accepted by:
	 	 /s/ Donald Wadas
	  	Date: 9/24/08 	  	
				
	 Start Date:
	 	  10/16/08
	  		  	

  

			
	Enclosures:	  	2008 Benefits Summary for Full-Time Employees
		  	Invention, Non-disclosure and Non-Compete Agreement
		  	I-9 Form
		  	BC/BS HMO and PPO Plan Descriptions
		  	Delta Dental Plan Description
		  	2008 Global Stock Plan
		  	2000 ESPP PlanSeverance Pay Agreement

 Exhibit 10.4 
 SEVERANCE PAY AGREEMENT 
 This agreement is entered into by and between Soapstone Networks, Inc. (the “Company”)
and Donald Wadas (“you”) dated as of October 16, 2008 (the “Effective Date”). 
 SEVERANCE PAY 
 You will receive severance pay if you are terminated from employment with the Company without Cause or if you resign for Good Reason. 
 The amount of the severance pay will be six (6) months of your base salary at the rate in effect on your separation date, less applicable taxes. In addition, if you
extend your group health, dental, and/or vision insurance coverage under COBRA, for the first six (6) months the Company will pay the same percentage of your monthly premiums that it pays for active employees. For the remainder of the COBRA
period you will be solely responsible for the full premium amounts. 
 To receive severance pay, you will be required to sign a release of claims (which will
not require you to release any rights to indemnification or exculpation or rights under any applicable insurance policies) in a form reasonably acceptable to the Company. Severance pay will be paid in accordance with the Company’s regular
payroll practices beginning promptly after your signed release of claims goes into effect. 
 In addition, if you are terminated without Cause prior to a
Change of Control, the vesting of your Company options will accelerate by six (6) months. 
 STOCK OPTIONS 
 Upon a Change of Control, at least fifty percent (50%) of the unvested portion of the Options and any additional stock option awards granted under the Plan, will
immediately vest and become exercisable (by crediting you for such purpose with additional service time, such that options will continue to vest following a Change of Control at the pre-existing number of shares per installments, but over one-half
of the pre-existing remaining vesting period). The remaining unvested portion of your options will continue to vest in accordance with the terms of the applicable agreement and the Plan following the Change of Control. 
 For example, if you have been awarded 120 options under the Plan that vest over four years at the rate of 2.5 options per month, after three years 90 of your options
will have vested and 30 will be unvested. Upon a Change of Control occurring at the end of year three, at least 15 of your 30 unvested options will immediately vest and become exercisable. Your remaining unvested options will continue to vest at the
rate of 2.5 per month. 
 If at the time of or within twelve months following a Change of Control you are terminated without Cause or you resign for
Good Reason, and you sign and return the Release, all of your unvested options under the Plan (including for clarity any options issued by an acquirer of the Company on assumption of or substitution for your Company options) will immediately vest
and become exercisable. 
 The above terms do not apply to any restricted stock grants, which continue to be governed by the applicable agreement(s) and
plan. 

 DEFINITIONS; OTHER 
 A
termination for “Cause” as used herein means your being terminated due to (a) willful misconduct or violation of Company policy which causes material harm to the Company, (b) willful breach of an employment or other agreement
with the Company which causes material harm to the Company, or (c) being convicted of any felony. 
 A resignation for “Good Reason” as used
herein means you resign because, following or at the time of a Change of Control, (a) you are transferred to a different position or suffer a reduction in responsibility; (b) your compensation is decreased; (c) you are required to
relocate more than fifty (50) miles from your work location immediately prior to the Change of Control; or (d) you are excluded from any material compensatory or benefit plan or arrangement made available to similarly situated employees of
the acquiring party. 
 “Change of Control” as used herein means the closing of (a) the sale of the Company by merger, consolidation or
purchase of outstanding capital stock in which the shareholders of the Company, as such, no longer own a majority of the outstanding equity securities of the Company or its successor; (b) any sale of all or substantially all of the assets of
the Company, other than in a spin-off or similar transaction; or (c) any other acquisition of the business of the Company, as determined by the Board. 
 Assignment. This agreement will be binding on and inure to the benefit of the parties and the Company’s successors and assigns. 
 Confidentiality. You must keep this agreement confidential. The Company may publicly disclose the fact that you have been offered this agreement, the terms of this agreement, and/or your receipt of severance pay under this agreement (the
“Information”). If, prior to the Company’s public disclosure of any or all of the Information, either you disclose any or all of the Information to anyone other than your spouse or financial advisor or your spouse or financial advisor
discloses any or all of the Information, this agreement will become void and you agree to repay any payments already paid hereunder. 
 Employment at Will.
This agreement is not an employment contract. Nothing in this agreement modifies your status as an employee at will or guarantees employment for any length of time. 
 Entire Agreement; Modification; Governing Law. Except as otherwise provided herein, this agreement constitutes the only agreement between you and the Company with respect to the subject matter hereof, superseding in
all respects any and all prior oral or written agreements or understandings pertaining to the subject matter hereof. This agreement may be amended or modified only in a writing signed by both you and the Company. Any dispute concerning this
agreement will be governed by the internal laws of Massachusetts. 
  

									
	SOAPSTONE NETWORKS, INC., by:	 		 	EMPLOYEE
					
	Print name:	 	 William Leighton
	 		 	Print name:	 	 Donald Wadas

					
	Signature:	 	 /s/ William Leighton
	 		 	Signature:	 	 /s/ Donald Wadas

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