Document:

EX-10.03

 Exhibit 10.03 
 CHEGG, INC. 
 Designated IPO Equity Incentive Program

 1. Purpose. The purpose of this Plan is to provide incentives to certain individuals who provide
services to the Company or any Company Subsidiary (i) to incentivize and motivate them, including in the event of a Designated IPO, and (ii) to continue in the employment of the Company through and after the closing of a Designated IPO.
Terms not otherwise defined herein are defined in Section 7 of this Plan. 
 2. Administration. This Plan
shall be administered by the Board, except as explicitly provided otherwise herein. All questions of interpretation or application of this Plan shall be determined by the Board, which determination shall be made in good faith, and each such
determination by the Board shall be final and binding upon all Participants. In order to include the varying interests that each member of the Board may have when the Board makes a determination in accordance with the terms of this Plan, unless
required otherwise by applicable law, no member of the Board shall be excluded from the vote of the Board in making any such determination, even if that member may have a self-interest in the outcome of that determination. 

3. Eligibility to Participate. Each Participant in this Plan shall be set forth on Exhibit A attached hereto.
Each service provider who becomes a Participant shall be notified in writing by the Company of his or her designation as a Participant, and shall be subject to the terms of the Plan, which Plan terms will govern all Designated IPO Equity Awards made
pursuant to this Plan. 
 4. Operation of the Program. 

(a) This Plan is effective as of the Effective Date. The aggregate numbers of Shares subject to Designated IPO Equity Awards shall be
calculated as set forth in subsection (c) below. The Designated IPO Equity Awards provided for herein represent an agreement by the Company to grant such award in the future, with such future grant being subject to the conditions set forth
herein, including, without limitation, continued service by the Participant as required by Section 5(a). 
 (b) Effective
as of the earlier of (i) the day before commencement of trading of any shares of the Company’s capital stock on a stock exchange in connection with a Designated IPO or (ii) the day of determination of the Designated IPO Price (e.g.,
upon execution of the underwriting agreement), or such other date as reasonably designated by the Board in good faith in connection with a Designated IPO, the Company shall grant Designated IPO Equity Awards to the Participants. 

(c) For each Participant, the aggregate numbers of Shares subject to such Participant’s Designated IPO Equity Awards (the
“Total Share Number”) shall equal the number of Shares required to be issued by the Company to such Participant to maintain such Participant’s Designated IPO Percentage after giving effect to the reduction of the
Series D Conversion Price or the Series E Conversion Price pursuant to Article Fourth, Section C.4(g) of the Company Charter, and giving effect to all Designated IPO Equity Awards hereunder (but

 
excluding the shares issued in the Designated IPO), with the number of Shares subject to such Participant’s Designated IPO RSU Grant equal to the RSU Grant Number and the number of Shares
subject to such Participant’s Designated IPO Option Grant equal to the Option Grant Number; provided that the calculation of the Designated IPO Option Grant and Designated IPO RSU Grant will be rounded down to the nearest whole share.

 (d) Each Designated IPO Option Grant shall have an exercise price equal to (i) one hundred percent (100%) of the
fair market value per Share on the date of grant (which, if applicable, shall be the closing price of such Shares on the date of grant), or (ii) the Designated IPO Price, provided that in any case such exercise price is in compliance with
Treasury Regulation Section 1.409A-1(b)(5)(i) and (ii) [nonstatutory stock options and statutory stock options] (the “Exercise Price”). 

(e) Subject to Section 4(f) below, the vesting schedules for a Participant’s Designated IPO Equity Awards shall mirror the
vesting schedule(s) of such Participant’s Prior Equity Award(s), including the vesting start date(s) applicable thereto, provided that where there are multiple Prior Equity Awards, the vesting shall be in proportion to the total number of
Shares subject to all such awards (i.e., the number of Shares subject to a Participant’s Designated IPO Equity Awards that vest on any particular day shall be proportional to the number of Shares subject to such Participant’s Prior Equity
Awards’ vesting on such date). To the extent desirable to facilitate such vesting proportionality, a Participant’s Designated IPO Option Grant may be broken into multiple option agreements and a Participant’s Designated IPO RSU Grant
may likewise be broken into multiple restricted stock unit agreements. 
 (f) The vesting and exercisability of all Designated
IPO Equity Awards hereunder shall be contingent upon and subject to the Designated IPO Closing. 
 (g) Notwithstanding anything
herein to the contrary, in the event the Company makes an adjustment to either the Series D Conversion Price or the Series E Conversion Price (or otherwise fixes the conversion ratio to Common Stock of the Series D Preferred Stock or the
Series E Preferred Stock), other than as set forth in Article Fourth, Section C.4(g) of the Company Charter, the Board shall have the authority, in its sole and absolute discretion, to substitute other equity awards to the Participants in
lieu of the Designated IPO Equity Awards or not make awards as contemplated in this Plan. 
 5. Conditions to Grant of
Designated IPO Equity Award. A Participant shall only be entitled to receive a Designated IPO Equity Award if such Participant (i) has continued to provide services as an employee, officer, director or consultant to the Company or a
Parent or Subsidiary of the Company and (ii) continues to be a Participant, in each case up to and through a Designated IPO Closing. 
 6. General Provisions. 
 (a) Employment Status. This Plan
does not constitute a contract of employment or impose on the Company any obligation (i) to retain any Participant as an employee, (ii) to change the status of any Participant as an at-will employee, or (iii) to change the
Company’s policies regarding termination of employment. 

  
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 (b) Notices. Any notices provided hereunder must be in writing and such notices or
any other written communication shall be deemed effective upon the earlier of personal delivery (including personal delivery by telex or facsimile) or the third day after mailing by first class mail, to the Company at its primary office location and
to a Participant at his or her address as listed in the Company’s payroll records. 
 (c) Severability. Whenever
possible, each provision of this Plan will be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Plan is held to be invalid, illegal or unenforceable in any respect under any applicable law or
rule in any jurisdiction, such invalidity, illegality or unenforceability will not affect any other provision or any other jurisdiction, but this Plan will be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or
unenforceable provisions had never been contained herein. 
 (d) Complete Agreement. This Plan constitutes the entire
agreement between a Participant and the Company and it is the complete, final, and exclusive embodiment of their agreement with regard to the subject matter herein. It is entered into without reliance on any promise or representation other than
those expressly contained herein. Notwithstanding the foregoing, this Plan shall not supersede or affect any other agreements relating to any Participant’s employment or severance, or the Designated IPO. 

(e) Interpretation, Amendment, or Termination of Plan. This Plan shall be interpreted and construed by the Board and all benefit
determinations including but not limited to amounts of benefits, eligibility, and the occurrence of any Designated IPO shall be made by the Board, and all determinations or interpretations shall be final and binding on all Participants. Except with
respect to modifications deemed necessary by the Board for compliance with or exemption from Section 409A of the Code as provided for in Section 6(h) and except for revisions to Exhibit A, which may be made from time to time by the
Board in its sole discretion, including the removal and addition of Participants, this Plan may be amended or terminated by a majority of the Board of Directors of the Company at any time prior to a Designated IPO, provided that any amendment or
termination of this Plan must also be approved by at least a majority of Participants (calculated based on the percentage of Prior Equity Grants held by the Participants) if such amendment or termination is adverse to Participant interests as
determined by the Board in its sole discretion. Unless earlier terminated as provided herein, this Plan will terminate five (5) years from the Effective Date. 
 (f) Headings. The headings of the Articles and Sections hereof are inserted for convenience only and shall not be deemed to constitute a part hereof nor to affect the meaning thereof. 

(g) Successors and Assigns. This Plan is intended to bind and inure to the benefit of and be enforceable by each Participant and
the Company, and their respective successors, assigns, heirs, executors and administrators; provided, however, that a Participant may not assign any of his or her rights hereunder (including the right to receive a Designated IPO Equity
Award) without the express written consent of the Company. 

  
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 (h) Withholding of Taxes. To the extent that the Company is required to withhold
federal, state, local or foreign taxes in connection with any benefit realized by a Participant under the Plan, or is requested by a Participant to withhold additional amounts with respect to such taxes, and the amounts available to the Company for
such withholding are insufficient, it will be a condition to the realization of such benefit that the Participant make arrangements satisfactory to the Company for payment of the balance of such taxes required or requested to be withheld. It is
intended that each installment of the benefits provided hereunder constitute separate “payments” for purposes of Treasury Regulation Section 1.409A-2(b)(2)(i). It is further intended that payments hereunder satisfy, to the greatest
extent possible, the exemption from the application of Section 409A of the Code (and any state law of similar effect) provided under Treasury Regulation Sections 1.409A-1(b)(4) (as a “short-term deferral”) and 1.409A-1(b)(5)(i)
and (ii) (nonstatutory stock options and statutory stock options). The Company reserves the right, without a Participant’s consent, to (i) make amendments to the Plan; (ii) revise the Plan; and (iii) modify the terms of a
Designated IPO Equity Award (including the number of Shares underlying such Designated IPO Equity Award) as it reasonably deems necessary or appropriate to avoid the Plan and any Designated IPO Equity Award being deemed to be subject to
Section 409A of the Code or the imposition of any tax or income recognition under Section 409A of the Code and any Treasury Regulations and Internal Revenue Service guidance thereunder. The Company makes no representation as to the tax
implications, including without limitation, of Section 409A of the Code, regarding the Plan or of the receipt of a Designated IPO Equity Award by Participant. 
 (i) Choice of Law. All questions concerning the construction, validity and interpretation of this Plan will be governed by the laws of the State of California, exclusive of the conflict of laws
provisions thereof. 
 (j) Share Reserve. Prior to the Designated IPO and the issuance of any Shares under this Plan, the
Company will reserve and thereafter keep available a sufficient number of Shares as will be required to satisfy the requirements of the issuance of all Designated IPO Equity Awards to be granted under this Plan. 

7. Definitions. 
 “Board” means the Board of Directors of the Company or the Committee, provided the Board of Directors of the Company has delegated administration of this Plan, or any particular
function thereof, to the Committee. 
 “Code” means the Internal Revenue Code of 1986, as amended.

 “Company Charter” means the Amended and Restated Certificate of Incorporation of the Company, as
amended from time to time in accordance with applicable law. 
 “Committee” means a committee designated
by the Board. 
 “Common Stock” means common stock of the Company, par value $0.001 per share.

 “Company” means Chegg, Inc. 

  
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 “Designated IPO” means a public offering of the Company’s
capital stock registered under the Securities Act (other than a registration relating solely to a transaction under Rule 145 under the Securities Act (or any successor thereto) or to an employee benefit plan of the Company) in which the
offering price per share to the public (before deduction of underwriters’ discounts or commissions and expenses) is at least $5.79 (as adjusted for any stock dividends, combinations, splits reorganizations, recapitalizations, reclassifications
or other events with respect to the Common Stock) but is less than either the Series D Conversion Threshold Price or the Series E Conversion Threshold Price (and thus which results in the reduction of either the Series D Conversion Price
or the Series E Conversion Price pursuant to Article Fourth, Section C.4(g) of the Company Charter) in connection with which there occurs either (i) the automatic conversion of the Series D Preferred Stock and, to the extent
outstanding, the Series E Preferred Stock pursuant to clause (ii) of the second or third sentence (as applicable) of Article Fourth, Section C.4(b) of the Company Charter in each case in connection with a Qualified IPO (as
defined in the Company Charter) or (ii) the conversion of the Series D Preferred Stock and, to the extent outstanding, the Series E Preferred Stock pursuant to clause (i) of the second or third sentence (as applicable) sentence
of Article Fourth, Section C.4(b) of the Company Charter. 
 “Designated IPO Closing” means
the closing of a Designated IPO pursuant to which Designated IPO Equity Awards are intended to be made hereunder (including the reduction of the Series D Conversion Price or the Series E Conversion Price pursuant to Article Fourth,
Section C.4(g) of the Company Charter and conversion of the Series D Preferred Stock and, to the extent outstanding, the Series E Preferred Stock in connection therewith). 

“Designated IPO Equity Award” means either a Designated IPO Option Grant or Designated IPO RSU Grant, in either
case granted under the Company’s 2005 Stock Incentive Plan, as amended, any successor equity incentive plan, or any other equity incentive plan adopted or assumed by the Company. 

“Designated IPO Option Grant” means the grant of an option to purchase Company Common Stock pursuant to
Section 4 in connection with a Designated IPO. 
 “Designated IPO Percentage” means the percentage
of Fully-Diluted Capital Stock held by a Participant in respect of such Participant’s Prior Equity Grants (including any shares issued upon prior exercise or settlement thereof) as of immediately prior to a Designated IPO Closing prior to
giving effect to (i) the reduction of the Series D Conversion Price or the Series E Conversion Price pursuant to Article Fourth, Section C.4(g) of the Company Charter, (ii) the grant of any Designated IPO Equity Awards
hereunder or (iii) the issuance of Shares in the Designated IPO). 
 “Designated IPO Price” means
the price per share offered to the public in a Designated IPO. 
 “Designated IPO RSU Grant” means the
grant of a restricted stock unit to acquire Company Common Stock pursuant to Section 4 in connection with a Designated IPO. 
 “Effective Date” means February 15, 2012. 

  
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 “Fully-Diluted Capital Stock” means the sum, without duplication, of
the aggregate number of shares of stock of the Company (on an as-converted to Common Stock basis) that are issued and outstanding or issuable upon the exercise of options to purchase Common Stock or other direct or indirect rights to acquire shares
of the capital stock that are issued and outstanding (whether or not then vested or exercisable). 
 “Option Grant
Number” with respect to a Participant means such Participant’s Total Share Number less such Participant’s RSU Grant Number. 
 “Parent” means any corporation (other than the Company) in an unbroken chain of corporations ending with the Company if each of such corporations other than the Company owns stock
possessing fifty percent (50%) or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. 
 “Participant” means a full-time or part-time service provider to the Company or any subsidiary of the Company (including, without limitation, employees, directors, officers and
consultants) selected by the Board to participate in this Plan who is listed on Exhibit A hereto, as such may be amended exclusively by the Board from time to time. 

“Plan” means this Chegg, Inc. Designated IPO Equity Incentive Program. 

“Prior Equity Grants” means with respect to a Participant the equity awards granted to a Participant under any
equity incentive plan of the Company (including any equity incentive plan or awards assumed by the Company and including all Shares subject thereto), regardless of whether such shares has been issued upon exercise or settlement of such equity award
(but giving effect to any shares relinquished or forfeited to the Company by the Participant). 
 “Prior Weighted
Average Exercise Price” with respect to a Participant means the weighted average exercise price of such Participant’s prior equity awards (with restricted stock units treated as having an exercise price equal to the fair market
value of the Common Stock as of the grant date thereof). 
 “RSU Grant Number” with respect to a
Participant means a number equal to the quotient of (i) the product of (a) such Participant’s Option Grant Number multiplied by (b) the difference of (I) the Exercise Price less (II) such Participant’s Prior
Weighted Average Exercise Price, divided by (ii) the Designated IPO Price. 
 “Securities Act”
means the Securities Act of 1933, as amended. 
 “Series D Conversion Price” shall have the meaning
set forth in the Company Charter. 
 “Series E Conversion Price” shall have the meaning set forth
in the Company Charter. 
 “Series D Conversion Threshold Price” shall have the meaning set forth
in the Company Charter. 
 “Series E Conversion Threshold Price” shall have the meaning set forth
in the Company Charter. 

  
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 “Shares” means shares of the Company’s Common Stock.

 “Subsidiary” means any entity (other than the Company) in an unbroken chain of entities beginning
with the Company if each of the entities other than the last entity in the unbroken chain owns equity interest possessing fifty percent (50%) or more of the total combined voting power of all classes of equity in one of the other entities in
such chain. 

  
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 EXHIBIT A 
 Participants 
 Bernhardt, David 
 Biddle, Gibson 
 Brown, Andy 
 Chesnut, Rob 
 Dillon, Tom 
 Dwane, Anne 
 Geiger, Chuck 
 Harz, Elizabeth 
 Lem, Esther 
 Melcher, Tom 
 Osier, Mike 
 Park, Robert 
 Phumbhra, Aayush 
 Rosensweig, Dan 
 Schultz, Nathan 
 Wenzel, Timothy 

  
 8EX-10.06

 Exhibit 10.06 

 
 

 
 December 3, 2009 
 Dan Rosensweig 
 Dear Dan, 
 On behalf of Chegg (the “Company”), I am very excited to offer you the position of President and Chief Executive Officer. Speaking for myself, as well as the Company’s Board of Directors
(the “Board”), and the other members of the Company’s management team, we are all very impressed with you and what you will bring to the Company. We believe that with your background, you will make significant contributions to the
success of the Company. 
 The terms of your new position with the Company are as set forth below: 

 

	 	1.	Position; Board Membership.  

 You
will become the President and Chief Executive Officer of the Company, working out of the Company’s offices in Santa Clara, California. As President and CEO you will have responsibility for the Company’s operations and strategic direction,
as well as other tasks assigned to you by the Board. You will report directly to the Board. The Company will recommend that you be elected to the Board, and that you continue to serve on the Board so long as you remain Chief Executive Officer of the
Company. While employed by the Company, except with the written approval of the Board, you will not actively engage in any other employment, occupation or consulting activity. 
 Start Date. You will commence this new position with the Company on no later then January 15, 2010. 
  

	 	2.	Compensation. 

 Base
Salary. You will be paid a monthly salary of $33,333 minus applicable withholdings, which is equivalent to $400,000 on an annualized basis. Your salary will be payable pursuant to the Company’s regular payroll policy (or in the same manner
as other officers of the Company). 
 Cash Bonus Program. You will be eligible for an annual cash bonus of $200,000 by meeting
performance objectives mutually agreed to by yourself and the board. For the first year of your employment, however, the Company guarantees you a bonus of no less than $100,000, payable at the time the Company pays such bonuses to other officers of
the Company. 
 Stock-Based Bonus Program. The Board would like to work with you to create a mutually agreeable stock-based bonus program
for yourself and other members of the management team of the Company that will allow you and the team to participate in upside of the Company’s performance. The Board will discuss with you the creation of this program within your first 90 days
of employment. 

  
 

 

 

 
  

	 	3.	Stock Options and Restricted Stock Units. 

 Initial Option Grant. In connection with the commencement of your services, the Company will recommend that the Board of Directors grant you an option to purchase 1,500,000 (one and one-half
million) shares of Common Stock, with an exercise price equal to the fair market value of the Common Stock of the Company on the date of the grant (the “Initial Option”). The Initial Option will vest and become exercisable, contingent on
your continued employment with the Company on each respective vesting date, over a period of 4 years as follows: one year after the date on which you commence employment with the Company (the “Start Date”), 25% of the shares subject to the
Initial Option will vest; thereafter, the remaining shares will vest on a monthly schedule of 1/36 of the total number of remaining unvested shares subject to the Initial Option upon the completion of each month of your continued employment with the
Company. The Initial Option will be an incentive stock option to the maximum extent allowed by the tax code and will be subject to the terms of the Company’s Stock Option Plan and the Stock Option Agreement between you and the Company, which
you will be required to execute as a condition of the grant, however, notwithstanding anything to the contrary in such Stock Option Plan or the Stock Option Agreement you will have a period of up to twenty-four (24) months from the effective
date of your termination or resignation to exercise all vested options. 
 Restricted Stock Unit Grant. In addition to the Initial
Option, the Company will grant you 750,000 (seven-hundred and fifty-thousand) restricted stock units (the “RSUs”). The RSUs shall vest as follows: 
 (i) If the Company completes an initial public offering (“IPO”) on or before one year from your Start Date, the RSUs shall “vest” pursuant to the following schedule: 20% six
(6) months after the IPO date, 20% twelve (12) months after the IPO date, 20% eighteen (18) months after the IPO date, 20% twenty four (24) months after the IPO date and 20% thirty (30) months after the IPO date. 

(ii) If the Company does not complete an IPO within one year from your Start Date, the RSUs shall “vest” pursuant to the
following vesting schedule: 20% twelve (12) months after your Start Date; 20% eighteen (18) months after your Start Date; 20% twenty-four (24) months after your Start Date; 20% thirty (30) months after your Start Date; and 20%
thirty-six (36) months after your Start Date. 
 Subject to Paragraph 9, below, the Company shall distribute the
“vested” RSUs to you on the earlier of (a) six months following an IPO or (b) upon a Change in Control (as defined in Paragraph 7, below), whether such IPO or Change in Control occurs during your employment or following your
termination or resignation. 
 Stock Purchase. The Company will grant you the right to purchase, at a price equal to
$8.7654 per share, shares of Series D Preferred Stock of the Company totaling up to one half of one percent (1/2%) of the issued and outstanding capital stock. This purchase right shall remain in effect until the earlier to occur of
(i) the date of the IPO and (ii) six months after your Start Date. 

  
 

 

 

 
  

	 	4.	Benefits. 

 Insurance
Benefits. The Company will provide you with the standard medical and dental insurance benefits available to other employees of the Company. 

Vacation. You will earn vacation consistent with the Company’s vacation policy offered to other employees of the Company. 

 

	 	5.	At-Will Employment.  

 Your
employment with the Company shall be for no specified period or term and may be terminated by you or by the Company at any time for any or no reason, with or without Cause, as long as written notice is provided. The Company requests that you provide
thirty (30) days written notice of your intention to resign. The “at-will” nature of your employment may only be changed by an express written agreement that is signed by you and by the Chairman of the Board. 

 

	 	6.	Termination of Employment.  

If you voluntarily resign your employment with the Company other than for Good Reason or if the Company terminates your employment for Cause, at any time,
you will receive your base salary, as well as any accrued but unused vacation (if applicable), earned through the effective resignation or termination date, and no additional compensation. A termination of your employment due to your death or your
disability (as such term is defined in Section 22(e)(3) of the tax code) will be deemed a voluntary resignation by you.
 If the Company
terminates your employment without Cause, or you resign your employment with the Company for Good Reason, the Company will provide written notice of termination, and will pay you all base salary and accrued but unused vacation that is earned through
the effective date of your termination or resignation. In addition, conditioned on your (a) signing and not revoking a release of any and all claims, in a form substantially similar to the form enclosed with this letter (the
“Release”), (b) resigning from the Board (if applicable) on the date that your employment terminates, and (c) returning to the Company all of its property and confidential information that is in your possession, you will receive
the following benefits: 
 (i) A lump sum payment equal to your then current annual base salary (the “Cash Severance”)
payable no later than thirty (30) days following your execution of the Release and delivery of that Release to the Company; 
 (ii) If you elect to continue your health insurance coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) following the termination of your employment,
then the Company shall pay your monthly premium under COBRA until the earlier of (x) 12 months, or (y) the date upon which you commence full time employment or consulting services with an entity other than the Company and you are eligible
for participation in any health insurance program provided by such entity; 
 (iii) Your unvested options and RSUs will vest as
follows: (a) if the termination or resignation takes effect on or before one year from your Start Date, you will immediately vest on the termination or resignation date in fifty percent (50%) of all unvested options granted under

  
 

 

 

 
  

 the Initial Option and the RSUs granted as provided in Paragraph 3 will “vest” in an amount
such that 50% of the RSUs granted in paragraph 3 shall be “vested” on such termination or resignation date; or (b) if the termination or resignation takes effect more than one year after your Start Date, (i) your Initial Option
will immediately accelerate vesting as to an additional 12 months of vesting, (ii) you will immediately “vest” in the greater of either twenty-five percent (25%) of the RSUs granted in Paragraph 3 or in an amount such that fifty
percent (50%) of the RSUs granted in Paragraph 3 shall be “vested” as of the date of your termination or resignation, and (iii) 25% of all other unvested options granted to you will vest. In either such case you will have a
period of up to twenty-four (24) months from the effective date of termination or resignation to exercise all vested options. 
 Subject to Paragraph 9, below, the Company shall settle vested RSUs to you on the earlier of (a) the six months following an IPO or (b) upon a Change in Control (as defined in Paragraph 7,
below), whether such IPO or Change in Control occurs during your employment or following your termination or resignation. 
 You will notify the
Company in writing within 5 days of your acceptance of an offer of employment or a consulting position with any entity other than the Company.

Cause. For all purposes under this Agreement, a termination for “Cause” shall mean a determination by the Board that your employment be
terminated for any of the following reasons: (i) failure or refusal to comply in any material respect with lawful policies, standards or regulations of the Company within thirty (30) days after written notice to you of such violations
and/or failure to comply; (ii) a material violation of a federal or state law or regulation applicable to the business of the Company; (iii) conviction or plea of no contest to a felony or other crime of moral turpitude under the laws of
the United States or any State; (iv) fraud or material misappropriation of property belonging to the Company or its affiliates; (v) a material breach of the terms of any confidentiality, invention assignment or proprietary information
agreement with the Company or with a former employer and failure to correct or cure such material breach within thirty (30) days after written notice to you of such breach; or (vi) your material misconduct or gross negligence in connection
with the performance of your duties. 
 Good Reason. You may terminate your employment with the Company for Good Reason if, without your
written consent, any of the following occurs: (i) you are no longer the CEO of the Company or no longer report directly to the Board of Directors, (ii) the Company makes any material change or reduction in your duties as CEO or assigns you
any duties inconsistent with your position, responsibilities, authority or status, (iii) the Company reduces your then-current annual base compensation (other than a similar reduction that applies to the Company’s other senior executives),
or (iv) the Company relocates you to a primary work location more than 50 miles from the Company’s principal office in Santa Clara, California. In the event of one of the forgoing, you are entitled to the same terms as if the Company
terminated your employment for a reason other than Cause. In order to invoke a termination for Good Reason, you must notify the Company in writing within 60 days of the event’s occurrence that you believe constitutes a Termination for Good
Reason and give the Company 30 days to remedy the event giving rise to your termination for Good Reason, after which, if the Company has not so remedied such event, then you must terminate employment with the Company. 

  
 

 

 

 
  

	 	7.	Change of Control.  

 If, during
the first twelve (12) months of your employment with the Company, there is a Change of Control (as defined below), and the Company terminates your employment without Cause or you resign your employment for Good Reason within twelve
(12) months following the Change of Control, then conditioned upon your execution of the Release you will receive the benefits provided in Section 6(i) and (ii), as well as the following accelerated vesting benefits: 

 

	(i)	You will immediately “vest” on the termination or resignation date in fifty percent (50%) of all unvested options granted under the Initial Option
provided in Paragraph 3; and 

  

	(ii)	You will immediately “vest” on the termination or resignation date in fifty percent (50%) of all unvested RSUs granted under Paragraph 3, above. Subject
to Paragraph 9, below, the Company shall distribute vested RSUs to you on the earlier of (a) six (6) months following an IPO or (b) upon a Change in Control (as defined below), whether such IPO or Change in Control occurs during your
employment or following your termination or resignation. 

 If a Change of Control occurs after you complete twelve
(12) months of employment with the Company and within twelve (12) months following the Change of Control the Company terminates your employment without Cause or you terminate your employment for Good Reason, then conditioned upon your
execution of the Release you will receive the benefits provided in Section 6(i) and (ii), as well as the following accelerated vesting benefits: 
  

	 	(i)	You will immediately vest on the termination or resignation date in one-hundred percent (100%) of all unvested options granted under the Initial Option provided in
Paragraph 3 and one-hundred percent (100%) of all other unvested options granted to you; and 

  

	 	(ii)	You will immediately vest on the termination or resignation date in one-hundred percent (100%) of all unvested RSUs granted under Paragraph 3, above. Subject to
Paragraph 9, below, the Company shall distribute vested RSUs to you on the earlier of (a) six (6) months following an IPO or (b) upon a Change in Control (as defined below), whether such IPO or Change in Control occurs during your
employment or following your termination or resignation. 

 In either of the above situations, you will have a period of up to
twenty-four (24) months from the effective date of termination or resignation to exercise all vested options. 
 “Change of
Control” shall be defined as (i) merger, reorganization, consolidation or other acquisition (or series of related transactions of such nature) pursuant to which more than fifty percent (50%) of the voting power of all equity of the
Company would be transferred by the holders of the Company’s outstanding shares (excluding a reincorporation to effect a change in domicile); (ii) a sale of all or substantially all of the assets of the Company; or (iii) any other
transaction or series of transactions (other than capital raising transactions) in which the Company’s stockholders immediately prior to such transaction or transactions own immediately after such transaction less than fifty percent
(50%) of the voting equity securities of the surviving corporation or its parent. 

  
 

 

 

 
  

	 	8.	Confidential Information and Invention Assignment Agreement.  

 As an employee of the Company, you will have access to certain Company confidential information and you may during the course of your employment develop certain information or inventions, which will be
the property of the Company. To protect the interests of the Company you will need to sign the Company’s standard “Employee Confidentiality Agreement” as a condition of your employment, a copy of which is enclosed. 

 

	 	9.	Section 409A.  

 To the extent
(a) any payments or benefits to which you become entitled under this agreement, or under any agreement or plan referenced herein, in connection with your termination of employment with the Company constitute deferred compensation subject to
Section 409A of the tax code and (b) you are deemed at the time of such termination of employment to be a “specified employee” under Section 409A of the tax code, then such payments shall not be made or commence until the
earliest of (i) the expiration of the six (6)-month period measured from the date of your “separation from service” (as such term is at the time defined in Treasury Regulations under Section 409A of the Code) from the Company; or
(ii) the date of your death following such separation from service; provided, however, that such deferral shall only be effected to the extent required to avoid adverse tax treatment to you, including (without limitation) the additional twenty
percent (20%) tax for which you would otherwise be liable under Section 409A(a)(1)(B) of the tax code in the absence of such deferral. Upon the expiration of the applicable deferral period, any payments which would have otherwise been made
during that period (whether in a single sum or in installments) in the absence of this paragraph shall be paid to you in one lump sum (without interest). Any termination of your employment is intended to constitute a “separation from
service” as such term is defined in Treasury Regulation Section 1.409A-1. It is intended that each installment of the payments provided hereunder constitute separate “payments” for purposes of Treasury Regulation
Section 1.409A-2(b)(2)(i). It is further intended that payments hereunder satisfy, to the greatest extent possible, the exemption from the application of Section 409A (and any state law of similar effect) provided under Treasury Regulation
Section 1.409A-1(b)(4) (as a “short-term deferral”). 
  

	 	10.	No Inconsistent Obligations.  

 By
accepting this offer of employment, you represent and warrant to the Company that you are under no obligations or commitments, whether contractual or otherwise, that are inconsistent with your obligations set forth in this letter. You also represent
and warrant that you will not use or disclose, in connection with your employment by the Company, any trade secrets or other proprietary information or intellectual property in which you or any other person has any right, title or interest, and that
your employment by the Company will not infringe upon or violate the rights of any other person or entity. You represent and warrant to the Company that you have returned all property and confidential information relating to any prior employers.

 We are all delighted to be able to extend this offer and look forward to working with you. To indicate your acceptance of the Company’s
offer, please sign and date this letter in the space provided below, and also sign the enclosed Employee Confidentiality Agreement, and return both to me. A duplicate original is enclosed for your records. This letter agreement, together with the

  
 

 

 

 
  

 Employee Confidentiality Agreement and any stock option and purchase agreements,
sets forth our entire agreement and understanding regarding the terms of your employment with Company and supersedes any prior representations or agreements, whether written or oral (including that certain offer letter also dated as of the date
hereof). This letter agreement may not be modified or amended except by a written agreement, signed by the Chairman of the Board of the Company and by you. This offer, if not accepted, will expire at close of business on December 3rd, 2009.

 This offer is contingent on the successful completion of a background check and final reference checking and the approval of the
Company’s Board of Directors. 
 Sincerely, 
 CHEGG, INC. 
 /s/ Osman Rashid 
 Osman Rashid 
 Chief Executive Officer 

 

	Enc.	General Release Agreement 

Employee Confidentiality Agreement 
 Agreed and Accepted 12/5/09, 2009 
 /s/ Dan Rosensweig 

					
	  
 Dan
Rosensweig

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