Document:

exv10w18

 

Exhibit 10.18

LOGMEIN, INC.

500 Unicorn Park Drive

Woburn, MA 01801

April 1, 2008

Kevin Harrison

c/o LogMeIn, Inc.

500 Unicorn Park Drive

Woburn, MA 01801

Dear Kevin:

     I am pleased to reaffirm your position with LogMeIn, Inc., as Senior Vice President, Sales.
This letter amends and restates your previous offer letter, dated January 20, 2005. Upon signing
this letter, the previous offer letter will be cancelled and be of no future force and effect. If
you decide to continue with us, you will receive an annual salary of $175,000. Your salary will be
paid in accordance with LogMeIn’s standard payroll practice, which is currently semi-monthly (i.e.
$7,291.67 per pay period). Your salary will be updated from time to time as determined by the
Compensation Committee. As an employee, you will also be eligible to receive employee benefits
including twenty (20) vacation days per year which accrue monthly. You will also be eligible to
participate in the Company’s benefit plans and fringe benefits, including the Company’s health
plan. The Board of Directors reserves the right from time to time to change the Company’s employee
benefit plans and fringe benefits.

     Each calendar year, you will be eligible for a discretionary bonus. The Company’s bonus plan
is subject to review and approval by the Company’s Board of Directors and Compensation Committee
and is based upon specific Company and individual performance goals established annually by
Management and the Board of Directors.

     Additionally, from time to time it may be recommended at one of the meetings of the Company’s
Board of Directors or Compensation Committee that the Company grant you an option to purchase
shares of the Company’s Common Stock at a price per share to be determined by the Company’s Board
of Directors or Compensation Committee. 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. This
option grant shall be subject to the terms and conditions of the Company’s stock option plan and
stock option agreement.

     As of the date of this offer letter, the Company hereby confirms that the 2005 Q1, Q2, Q3 and
Q4 performance objectives described in your original offer letter and your August 1, 2005 option
agreement have been fully achieved. The shares earned as a result of the performance vesting being
achieved will vest over time in accordance with the original vesting schedule described in your
August 1, 2005 option agreement, 25% on each of January 3, 2006, 2007, 2008 and 2009. As described
in your original offer letter, regarding your initial option grant of 650,000 shares, if your
employment with the

 

 

Company is terminated by the Company for Reasons Other Than Cause, the vested amount related to any
Performance Objective in the option shall automatically vest and the purchase option for that
vested amount may be exercised at any time during the period of 180 days next following the
termination of your employment with the Company. For the purposes of this document, the phrase
“Reasons Other Than Cause” shall mean any reason except willful misconduct in the course of your
employment, your willful, knowing or substantial failure or neglect to perform your duties,
insubordination, theft, dishonesty, conviction of a serious misdemeanor involving financial
misconduct or a felony, your death or any other conduct that is materially detrimental to the
Company or such other cause as the Board of Directors of the Company in good faith reasonably
determines provides cause for the termination of your employment.

     Upon a Change of Control (as such terms is defined in the Company’s 2004 Stock Incentive
Plan), fifty percent (50%) of the 650,000 option shall become exercisable as to any and all shares
subject to such option that are not exercisable in full at the time of such Change of Control.

     You agree to abide by the rules, regulations, instructions, personnel practices and policies
of the Company as may be in effect from time to time, in addition to any changes therein which may
be adopted from time to time by the Company. Except for vacations and absences due to temporary
illness, you will be expected to devote your full time and effort to the business and affairs of
the Company.

     As a condition of your continued employment with the Company, you agree to continue to abide
by the Company’s standard Confidentiality and Assignment of Inventions and Non-Competition
Agreement, which you signed on January 3, 2005.

     The employment relationship between the Company and you is at-will, and your employment
relationship may be terminated by the Company or you for any reason or for no reason. You
represent and warrant that the execution and delivery of this letter agreement, the performance by
you of any or all of the terms of this letter agreement and the performance by you of your duties
as an employee of the Company do not and will not breach or contravene (i) any agreement or
contract to which you were, are or may become a party on or at any time after the date you
commenced your employment with the Company, or (ii) any obligation you may otherwise have under
applicable law to any former employer or to any person to whom you have provided, provide or will
provide consulting services.

	 	 	 	 	 
	 	Sincerely,

LogMeIn, Inc.

 	 
	 	By:  	/s/ Michael Simon
 	 
	 	 	Name:  	Michael Simon 	 
	 	 	Title:  	CEO 	 

 

 

	 	 	 	 	 

I hereby acknowledge that I have had a full and adequate opportunity to read, understand, and
discuss the terms and conditions contained in this letter agreement prior to signing hereunder.

     /s/ Kevin Harrison     

Kevin Harrison

Date: April 23, 2008exv10w19

 

Exhibit 10.19

LOGMEIN, INC.

500 Unicorn Park Drive

Woburn, MA 01801

April 1, 2008

Richard Redding

c/o LogMeIn, Inc.

500 Unicorn Park Drive

Woburn, MA 01801

Dear Richard:

     I am pleased to reaffirm your position with LogMeIn, Inc., as Vice President, General Manager,
Mobile. This letter amends and restates your previous offer letter, dated April 18, 2005. Upon
signing this letter, the previous offer letter will be cancelled and be of no future force and
effect. If you decide to continue with us, you will receive an annual salary of $175,000. Your
salary will be paid in accordance with LogMeIn’s standard payroll practice, which is currently
semi-monthly (i.e. $7,291.67 per pay period). Your salary will be updated from time to time as
determined by the Compensation Committee. As an employee, you will also be eligible to receive
employee benefits including twenty (20) vacation days per year which accrue monthly. You will also
be eligible to participate in the Company’s benefit plans and fringe benefits, including the
Company’s health plan. The Board of Directors reserves the right from time to time to change the
Company’s employee benefit plans and fringe benefits.

     Each calendar year, you will be eligible for a discretionary annual bonus. The Company’s
bonus plan is subject to review and approval by the Company’s Board of Directors and Compensation
Committee and is based upon specific Company and individual performance goals established annually
by Management and the Board of Directors.

     Additionally, from time to time it may be recommended at one of the meetings of the Company’s
Board of Directors or Compensation Committee that the Company grant you an option to purchase
shares of the Company’s Common Stock at a price per share to be determined by the Company’s Board
of Directors or Compensation Committee. 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. This
option grant shall be subject to the terms and conditions of the Company’s stock option plan and
stock option agreement.

     In the event your employment is terminated by the Company other than for cause, (i) at the
time of, or any time following, an “acquisition of the Company”, or (ii) after the first
anniversary of the commencement of your employment with the Company, or (iii) within six months
after appointment of a new CEO, or (iv) for other reasons other than “for cause”, then you will be
entitled to receive a severance payment equal to six (6) months of your base salary. In no event
shall the Company be obligated to pay you a

 

 

severance payment greater than six (6) months of your base salary or any severance payment other
than as expressly set forth in this paragraph.

     For the purposes of the above severance provision, an “acquisition of the Company” shall be
strictly limited to (1) the sale of all or substantially all of the assets of the Company to other
than a current shareholder, (2) the acquisition in excess of fifty (50%) percent of the voting
equity of the Company by a person or company not presently a shareholder of the Company, or (3) the
merger or consolidation of the Company with another Company that was neither a subsidiary or
affiliate with the Company just prior to the time of the merger or consolidation. Further for the
purpose of the above severance provision, “for cause” is defined as any of the following: (1)
insubordination or disregard of directives of the Company’s Board of Directors or the Chief
Executive Officer of the Company (or any other Company officer to whom you report); (2) commission
of a willful act which constitutes a breach of your duty of loyalty to the Company; (3) commission
of a willful act of dishonesty in the course of your duties with the Company which significantly
injures the Company; (4) engagement in gross or persistent misconduct injurious to the Company, its
stockholders or affiliates; (5) conviction of a crime of moral turpitude or of a felony; or (6)
chronic alcoholism or drug abuse.

     Upon a Change in Control of the Company (as that term is defined in the Company’s 2004 Equity
Incentive Plan), fifty percent (50%) of your initial option to purchase 250,000 shares shall become
exercisable as to any and all shares subject to the 250,000 share option that are not exercisable
in full at the time of such Change in Control.

     You agree to abide by the rules, regulations, instructions, personnel practices and policies
of the Company as may be in effect from time to time, in addition to any changes therein which may
be adopted from time to time by the Company. Except for vacations and absences due to temporary
illness, you will be expected to devote your full time and effort to the business and affairs of
the Company.

     As a condition of your continued employment with the Company, you agree to continue to abide
by the Company’s standard Confidentiality and Assignment of Inventions and Non-Competition
Agreement, which you signed on April 26, 2005.

     The employment relationship between the Company and you is at-will, and your employment
relationship may be terminated by the Company or you for any reason or for no reason. You
represent and warrant that the execution and delivery of this letter agreement, the performance by
you of any or all of the terms of this letter agreement and the performance by you of your duties
as an employee of the Company do not and will not breach or contravene (i) any agreement or
contract to which you were, are or may become a party on or at any time after the date you
commenced your employment with the Company, or (ii) any obligation you may otherwise have under
applicable law to any former employer or to any person to whom you have provided, provide or will
provide consulting services.

 

 

	 	 	 	 	 
	 	Sincerely,

LogMeIn, Inc.

 	 
	 	By:  	/s/ Michael Simon
 	 
	 	 	Name:  	Michael Simon 	 
	 	 	Title:  	CEO 	 
	 

I hereby acknowledge that I have had a full and adequate opportunity to read, understand, and
discuss the terms and conditions contained in this letter agreement prior to signing hereunder.

     /s/ Richard Redding     

Richard Redding

Date: April 23, 2008

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