Document:

Document

Exhibit 10.3
May 9, 2022
To:  Mo Katibeh
Re:  Supplemental Letter
Dear Mo,
This letter supplements your employment offer letter, as amended and supplemented (“Offer Letter”). The terms of your Offer Letter shall be amended as follows, effective May 9, 2022.
1.         Salary.
Your new gross annual base salary shall be $600,000 per year, subject to standard withholding and deductions and paid in accordance with the Company’s standard payroll policies.
2.         Bonus. 
On a quarterly basis, you may be eligible to receive a management-by-objective (“MBO”) bonus in the target gross amount of 100% of your quarterly base salary ($150,000 per quarter; $600,000 per year), subject to applicable withholdings. The MBO will be payable in restricted stock units (“RSUs”) (and subject to applicable withholdings). More information about the MBO is available in the RingCentral Incentive Plan and the KEEB Plan. 
3.         Restricted Stock Units. 
As approved by the Company’s board of directors (the “Board”) (or an authorized committee of the Board), you have been granted RSUs having an initial value of $2,000,000 (the “Initial Value”) that cover shares of the Company’s Class A common stock.  The actual number of RSUs granted to you will be 26,713, which is equal to the Initial Value divided by $74.87, representing the average closing price of a share of the Company’s Class A common stock (as quoted on the New York Stock Exchange) during the period of May 1-15, 2022. Your RSUs shall be subject to the terms of the Company’s 2013 Equity Incentive Plan (the “2013 Plan”) and an RSU agreement between you and the Company (collectively, the “Equity Documents”).[i]  All of the these 26,713 RSUs shall vest as follows: provided you remain an employee of the Company, 1/4th of the RSUs shall vest on February 20, 2023, and 1/16th of the RSUs shall vest on each Quarterly RSU Vesting Date thereafter over the following twelve calendar quarters. The Quarterly RSU Vesting Dates are February 20, May 20, August 20 and November 20 of each year. No right to any stock is earned or accrued until such time that vesting occurs, nor does the grant confer any right to continue vesting or employment.[ii]
You will be also granted Performance-Based RSUs with an initial value of $2,000,000 (the “Performance Equity Grant RSUs”). The actual number of RSUs granted to you will be calculated in the same manner as your Initial Equity Grant and also be subject to the Equity Documents. Subject to the terms of the Equity Acceleration Policy, your Performance Equity Grant RSUs shall vest as follows: provided you remain a service provider of the Company, (A) 25% of the RSUs shall vest on February 20, 2023, and, (B) 75% of the RSUs shall vest over the remaining three (3) years, with all vesting contingent on the Company achieving performance based metrics (“Performance Metrics”) determined by the Board on or before the date of the Company’s release of its quarterly earnings in Q1-2023 (“Q1-23 Earnings Release Date”); provided, however, if the Board does not establish Performance Metrics on or prior to Q1-23 Earnings Release Date, then all of the Performance Equity Grant RSUs shall vest on the same four (4) year vesting schedule, and be subject to the same terms and conditions, as the Initial Equity Grant RSUs. No right to any stock is earned or accrued until such time that vesting occurs, nor does the grant confer any right to continue vesting or employment.  These Performance Equity Grant RSUs shall not be subject to any vesting acceleration.

Except as amended herein, all of the terms and conditions of your Offer Letter shall remain in full force and effect and there are no other changes to your employment terms.
I really look forward to your continued success at the Company.
			
	Sincerely,

	
	/s/ Vladimir Shmunis
	
	Vlad Shmunis

	Chief Executive Officer 

	RingCentral, Inc.

			
	

[i] Your RSUs shall be subject to the terms of the Company’s 2013 Equity Incentive Plan (the “2013 Plan”) and an RSU agreement between you and the Company (collectively, the “Equity Documents”). 
[ii] No right to any stock is earned or accrued until such time that vesting occurs, nor does the grant confer any right to continue vesting or employment.EX-10.1

   

   

   

   

   

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  Exhibit 10.1

   

  AMENDMENT OF SUBLEASE

   

   

   

  THIS AMENDMENT OF SUBLEASE (“Amendment”) is made as of this	day of April, 2022 by and between DataRobot, Inc., a Delaware corporation, having an office at 225 Franklin Street, Boston, MA 02110 (“Sublandlord”), and Atea Pharmaceuticals, Inc., a Delaware corporation having an office at 125 Summer Street, Boston, MA 02110 (“Subtenant”).

   

  R E C I T A L S:

   

  A.Pursuant to Pursuant to an Office Lease Agreement dated as of December 13, 2018 ("Original Lease"), as amended by (i) First Amendment to Lease dated as of June 18, 2019 ("First Amendment"), (ii) Second Amendment to Lease dated as of August 28, 1919 ("Second Amendment"), (iii) Third Amendment to Lease dated as of December 31, 2020 (“Third Amendment") and (iv) Fourth Amendment to Lease dated as of February __, 2022 (“Fourth Amendment”) (collectively, the “Prime Lease”), 225 Franklin Owner (DE) LLC ("Prime Landlord") leased to Sublandlord approximately 127,482 rentable square feet of office space (the "Premises") in the building located at 225 Franklin Street, Boston, Massachusetts (the "Building"); and

   

  B.Sublandlord and Subtenant entered into a Sublease dated as of July 19, 2021 (the “Existing Sublease”) pursuant to which Subtenant leased from Sublandlord approximately 17,544 rentable square feet of the Premises, which space (the “Sublease Premises”) consists of a portion of the twenty-first floor of the Building, as more particularly described in the Existing Sublease; and

   

  C.Pursuant to the Fourth Amendment (a copy of which Sublandlord has delivered to Subtenant), Sublandlord and Prime Landlord have extended the expiration date for Sublandlord to submit any requisition packages to the Prime Landlord for the Expansion Premises Allowance so as to expire on August 31, 2022 and modified other terms and conditions contained therein via the Fourth Amendment; and

   

  D.Sublandlord and Subtenant desire to amend the Existing Sublease to extend the expiration date by which Subtenant may submit any requisition packages for the Subtenant Allowance on the terms and conditions set forth herein. The Existing Sublease as modified by this Amendment hereinafter shall be referred to as the “Sublease.” Any capitalized terms not defined herein shall have the meaning set forth in the Existing Sublease.

   

  NOW, THEREFORE, in consideration of the promises and mutual covenants and conditions hereinafter contained, and incorporating the foregoing recitals herein in their entirety, Sublandlord and Subtenant hereby agree that the Existing Sublease is hereby amended as follows as of the date hereof:

   

   

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  1.Deadline to Requisition the Subtenant Allowance. The expiration date for Subtenant to submit a requisition package for all or any portion of the Subtenant Allowance as set forth in Article 11 of the Existing Sublease is hereby extended to July 31, 2022. Any portion of the Subtenant Allowance which has not been used or requisitioned by July 31, 2022 shall be deemed forfeited by Subtenant after July 31, 2022. Any requisition by Subtenant shall be submitted to Sublandlord in accordance with the Existing Sublease and shall be subject to the Soft Cost Cap Amount and the oversight and coordination fee of the Prime Landlord per Exhibit- B-1 of the Second Amendment.

   

  2.Conflicts. In the event of any conflict or inconsistency between the terms and conditions of the Existing Sublease and the terms and conditions of this Amendment, the terms and conditions of this Amendment shall be controlling.

   

  3.Entire Agreement. The Sublease, as hereby amended, contains the entire agreement between the parties and cannot be changed, modified or amended or any provision waived unless such change, modification, amendment or waiver is in writing and executed by the party against which the enforcement of the change, modification, amendment or waiver is sought.

   

  4.No Other Modifications. Except as modified by this Amendment, the terms and conditions of the Existing Sublease shall remain unmodified and in full force and effect.

   

  5.Counterparts; Electronic Signature. This Amendment may be executed in counterparts with the same effect as if both parties hereto had executed the same document. Both counterparts shall be construed together and shall constitute a single amendment. This Amendment may be signed and/or transmitted by facsimile, e-mail of a .pdf document or using electronic signature technology (e.g., via DocuSign or similar electronic signature technology), such signed electronic record shall be valid and as effective to bind the party so signing as a paper copy bearing such party's handwritten signature. If a party signs this Amendment using electronic signature technology, by clicking "SIGN", such party is deemed to have signed this Amendment electronically.

   

   

  [Signatures on next page]

   

   

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  IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date first above written.

   

   

  SUBLANDLORD:

   

  DataRobot, Inc.,

  A Delaware Corporation

   

  By: /s/ George Karamanos

  Name: George Karamanos

  Title: Chief Legal Officer

   

   

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        SUBTENANT:

   

        Atea Pharmaceuticals, Inc.,

        A Delaware Corporation

   

                                                                                            By: /s/ Jean-Pierre Sommadossi

                                                                                            Name: Jean-Pierre Sommadossi

                                                                                            Title: Chairman and CEO

   

   

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