Document:

EX-10.6

 Exhibit 10.6 
  

					
	

	  	  
 825 Middlefield Rd

 
 Mountain View, CA 94043
	  	 Toll Free: 800-379-7729
  

Tel: 650-641-4000
  

Fax: 408-854-7701

 December 3, 2018 

Jason Veldhuis 
 Email: [*************] 

Dear Jason: 
 We are pleased to announce that you are being
promoted from Vice President, Corporate Development and Strategy to Chief Financial Officer of lntermedia.net, Inc. (“Intermedia” or the “Company”) You have taken initiative to continue to expand your skills and contributions and
proven to be a valuable employee of Intermedia. 
 Your performance during your employment with Intermedia has added to the success of the Company.
Recognizing your outstanding performance, your promotion will come into effect on December 15, 2018 (the “Effective Date”) 
  

	 	•	 	 As of the Effective Date, your salary will be increased to $280,000, payable in semi-monthly installments, in
accordance with the Company’s normal payroll procedures. In addition, you will participate in our management incentive bonus plan with a full-year target bonus payment equivalent to 50% of your paid base salary. The target bonus payment for a
full year would be $140,090, yielding an On-Target-Earnings level of $420,000. 

  

	 	•	 	 Additionally in recognition of the anticipated impact that your contributions will have on the Company, the
Company’s management will recommend its parent company Board of Managers (or its Compensation Committee) that they approve the issuance of 230,000 additional incentive units to you (i.e., in addition to the incentive units previously granted to
you). The incentive units are intended to qualify as “profit interest under the Internal Revenue Code. It is expected that 2/3 of the incentive units will be subject to time-based vesting, and the remaining 1/3 of the incentive units will be
subject to performance-based vesting. The vesting schedule, performance vesting criteria, participation threshold (which will be based on a fair market value assessment as of the grant date), transfer restrictions, repurchase terms and formal grant
terms are subject to the applicable incentive unit grant agreement, the issuer’s limited liability company agreement and approval by our Board of Managers (or its Compensation Committee). You will receive confirmation when this grant is
approved. 

  

	 	•	 	 Severance Benefits: 

  

	 	•	 	 In the event you are terminated from Intermedia for a reason other than Cause (as defined in the Incentive Unit
Grant Agreement between you and Ivy Parent Holdings, LLC dated as of April 10, 2017 (the “IU Grant Agreement”)), death or disability, or if you resign from your employment with Intermedia for Good Reason (as defined in the

	 	 
IU Grant Agreement), you will be eligible to receive separation benefits in exchange for you timely signing and not revoking a Separation Agreement and General Release (as further described
below). Your separation benefits will include payment equal to six (6) months of your then current base salary payable in semi-monthly installments. At the sole discretion of the Compensation Committee, you will be considered for a bonus
payment under the terms of the bonus plan in effect at the time of your separation. Additionally, you will be eligible to continue your employee health care coverage via COBRA. Intermedia will subsidize a portion of the costs (current company
contribution plus COBRA administration costs) for an initial six (6) months (or until your eligibility for COBRA ends, if earlier), and your costs will equal the employee rate for the benefits elected during the coverage plan year(s). Your
contribution rate may change from year to year based on benefit rate changes. 

 Notwithstanding the foregoing, if
Intermedia determines, in its sole discretion, that it cannot provide the COBRA benefits without potentially violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), Intermedia instead will
provide you a taxable lump sum payment in an amount equal to six (6) times the monthly COBRA premium that Intermedia would be required to pay to continue the group health coverage for you and your dependents in effect on the date of your
termination of employment (which amount will be based on the premium for the first month of COBRA coverage), which payment will be made regardless of whether you or your eligible dependents elect COBRA continuation coverage. 

 

	 	•	 	 The receipt of any separation benefits pursuant to this letter will be subject to you signing and not revoking a
Separation Agreement and General Release; provided that such Separation Agreement and General Release is effective within sixty (60) days following your termination of employment or such shorter period specified in the Separation Agreement and
General Release (the “Release Deadline”). No separation benefits will be paid or provided until the Separation Agreement and General Release becomes effective. Subject to any payment delay necessary to comply with Section 409A (as
defined below), your separation benefits under this letter that would be considered Deferred Compensation (as defined below) will be paid on, or, in the case of installments, will not commence until, the sixty-first (61st) day following your
separation from service. If you die before all amounts have been paid, such unpaid amounts will be paid to your designated beneficiary, if living, or otherwise to your personal representative in a lump-sum
payment (les any withholding taxes) as soon as possible following your death. 

  

	 	•	 	 It is the intent of this letter that all payments and benefits hereunder comply with or be exempt from the
requirements of Section 409A of the Internal Revenue Code of 1986, as amended, and the final regulations and any guidance promulgated thereunder ad any applicable state law requirements (collectively, “Section 409A”) so that none
of the payments and benefits to be provided under this letter will be subject to the additional tax imposed under Section 409A, and any ambiguities or ambiguous terms herein will be interpreted to be exempt or so comply. Each payment and
benefit payable under this letter is intended to constitute a separate payment for purposes of Section 1.409A-2(b) (2) of the Treasury Regulations. You and Intermedia agree to work together in

  
 2 

	 	 
good faith to consider amendments to this letter and to take such reasonable actions which are necessary, appropriate or desirable to avoid imposition of any additional tax or income recognition
prior to actual payment to you under Section 409A. Notwithstanding anything to the contrary in this letter, no separation pay or benefits to be paid or provided to you, if any, pursuant to this letter that, when considered together with any
other severance payments or separation benefits, are considered deferred compensation under Section 409A (together, “Deferred Compensation”) or otherwise would be exempt from Section 409A pursuant to Treasury Regulation Section 1.409A-1 (b)(9) will be paid or otherwise provided until you have a “separation from service” within the meaning of Section 1.409A. Further , if at the time of your termination of
employment, you are a “specified employee” within the meaning of Section 409A, payment of such Deferred Compensation will be delayed to the extent necessary to avoid the imposition of the additional tax imposed under
Section 409A, which generally means that you will receive payment on the first payroll date that occurs on or after the date that is six (6) months and one (1) day following your termination of employment, or your death, if earlier
(the “Six-Month Delay”). All subsequent Deferred Compensation, if any, will be payable in accordance, with the payment schedule applicable to each payment or benefit. Notwithstanding anything herein
to the contrary, if you die following your termination but prior to the six (6) month anniversary of your termination, then any payments delayed in accordance with this paragraph will be payable in a lump sum as soon as administratively
practicable after the date of your death and all other Deferred Compensation will be payable in accordance with the payment schedule applicable to each payment or benefit. 

 

	 	•	 	 2018 Executive Bonus: The Company’s management will recommend to the Compensation Committee of Ivy Parent
Holdings, LLC (“Parent”) Board of Managers that they approve the payment, on or before December 31, 2018, of ninety percent (90%) of your projected annual bonus payment under the Company’s Senior Leader Annual Incentive Plan (the
“Executive Bonus Plan”), based on the Company’s forecasted 2018 performance and metrics as of December 15, 2018 and the 2018 performance measure, targets and payout formulas under the Executive Bonus Plan (the “Initial Bonus
Installment”). The payment of the Initial Bonus Installment is subject to the approval by the Parent’s Compensation Committee. To the extent that the Initial Bonus Installment exceeds what you ultimately earn under the 2018 Executive Bonus
Plan based on actual full-year performance, the Company will be entitled to recover such excess amount, which you may choose to pay by writing a check to the Company or by having such excess amount deducted from any future compensation payments
payable to you (including any unpaid bonuses, salary or other compensation). To the extent that the Initial Bonus Installment is less than what you ultimately earn under the 2018 Executive Bonus Plan based on actual full-year performance, the
Company will pay the remaining amount to you simultaneous with the bonus payments to other active participants in the 2018 Executive Bonus Plan (subject to you remaining as an Intermedia employee through the duration of such payment).

  
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	 	•	 	 Relocation: To support your relocation to the Bay Area, you will also receive a
one-time lump-sum relocation bonus equal to $20,000, which will be paid to you by no later than December 31, 2018, plus a
one-time gross-up of this bonus amount for tax purposes. Such gross-up payment shall be calculated applying your 2018 marginal federal income tax rate (as determined by
Intermedia based on the compensation paid to you (or contractually agree to be paid to you by Intermedia in calendar year 2018), such that your net payment, after federal and other required tax withholdings, is equal to $20,000.

 We are very excited to have you as a key-contributor to the team. We trust that your assignment
with the Company will continue to be both challenging and rewarding. I look forward to continuing to work with you and wish you the very best in your new-position. 

 

	
	Best Regards,
	
	/s/ Michael Gold
	
	Michael Gold
	Chief Executive Officer
	
	ACCEPTED AND AGREED:

 I accept the agreement with Intermedia.net, Inc. subject to the terms and conditions set out in this letter. 

 

	
	/s/ Jason Veldhuis
	
	Jason Veldhuis
	Print Name
	
	12/5/2018
	Date Signed

  
 4EX-10.7

 Exhibit 10.7 
  

			
	 INTERMEDIA.NET
 Outsource
Technologies, Outsmart Competition
	  	 150 Mathilda Place, Suite 104
 Sunnyvale, CA
94086
 t. 650-424-9935

f. 650-424-9936

 July 20, 2007 
 Jonathan
McCormick 
 [***********] 
 Jonathan: 

We are pleased to offer you at-will employment with Intermedia, Inc. (the “Company”) in a position with the
working title of Vice-President Operations. If you commence employment with the Company on or before August 13, 2007, the position offered to you presently includes the following: 

1. Compensation: During the continuation of your at-will employment with the Company, the
Company will pay to you, as actually earned by you and in arrears, an amount which represents the pro rata equivalent of $190,000 during a consecutive twelve (12) month period. As agreed there will be
non-guaranteed year end bonus of a minimum of $30,000 to be paid at the end of calendar year 2007. This bonus is contingent upon successful completion of the probationary period and continued employment by you
until the end of 2007, as well as the company and you meeting their goals for 2007. In addition, the Company will reimburse your apartment rental expenses in Sunnyvale area in the total amount of up to $20,000 for the first twelve (12) months
of your employment. The first six (6) months will be a probationary period during which time your performance will be continuously evaluated. The Company at all times during any continuation of your
at-will employment retains the sole discretion to adjust the compensation paid to you. 
 2.
Incentive Compensation: the Company in its sole discretion may issue a separate written stock option grant to you, with the material terms of the grant at all times subject to the Company’s written stock option plan. 

3. Health: Medical, dental and life insurance coverage presently is offered by the Company to otherwise eligible employees who qualify
for, and elect to, participate in one or more such plans or programs. All such plans or programs are controlled and administered by parties’ independent from the Company. The terms of such plans or programs, circumstances personal to you, and
other factors outside the Company’s control ultimately will determine and control your participation in one or more such plans or programs. You acknowledge and agree that the Company retains the sole discretion to continue to offer any such
plans or programs to its employees, including without limitation the terms upon which such plans or programs are offered to the Company employees. 

 4. Paid Time Off, etc.: The Company offers Paid Time Off to its full-time employees,
subject at all times to the Company’s then effective written policy. The Company also recognizes certain Company holidays. The enclosed documents provide the actual details. 

5. Commencement: The Company would like you to commence § employment as soon as possible, consistent with any
obligation between you and your present employer, and also consistent with the Company’s business needs. Where the Company does not receive notice from you agreeing to commence employment within five (5) business days from the date
of this letter, and with an actual commencement date not later than twenty (20) business days from the date of this letter, the offer of employment described through this letter shall be deemed withdrawn without further notice from the Company,
and unavailable for acceptance by you. You acknowledge and agree that the Company may withdraw and rescind the offer of employment described through this letter at any time after its delivery to you, and without any reason or any obligation
to pay any consideration to you, 
 To accept this offer, please sign the enclosed Employment Agreement and, as appropriate, all other enclosed documents.
Please return the signed and completed original documents to me as soon as possible. Employment with the Company commences only after you have signed these documents and the Company has received them in order, and you report for work. Upon execution
of the Employment Agreement and, as appropriate all other enclosed documents, this offer letter shall terminate and be of no force and effect. 
 If you
have any questions, please call William Gomes at [***********]. 
  

	
	Very truly yours,
	INTERMEDIA, INC.
	
	/s/ Serguei Sofnski
	Serguei Sofinski
	CEO

  

	
	Accepted:
	
	/s/ Jonathan McCormick
	Jonathan McCormick
	
	Enclosures

					
	 

	 	 825 E. Middlefield Rd

Mountain View, CA 94043
	  	 Toll Free: 800-379-7729

Tel: 650-641-4000

Fax: 408-854-7701

 October 7, 2015 
 Addendum
to Offer Letter Delivered via E-mail 
 Jonathan McCormick c/o Intermedia.net, Inc. 825 E Middlefield Road Mountain
View, CA 94043 
 Dear Jonathan: 
 This letter serves an
addendum to your offer letter with respect to your employment with Intermedia.net, Inc. (collectively with Intermedia Holdings, Inc., the “Company” or “Intermedia”). By executing below, you agree that your offer letter is hereby
amended to add the following additional provisions (which replace in its entirety the existing language in your offer letter pertaining to the acceleration of your stock options in connection with a Change in Control): 

You shall be eligible for vesting acceleration equal to the following: 
  

	i.	 If any of your then outstanding options are not assumed by the successor corporation (or parent thereof), or
are not otherwise in full force and effect in connection with a Change in Control (as defined in Intermedia’s 2011 Equity Incentive Plan (the “Plan”)), (a) one hundred percent (100%) of the then-unvested shares subject to such
outstanding options, if you had at least one (1) year of continuous service as an employee of the Company as of the Change in Control, or (b) the number of then unvested shares subject to such outstanding options that would have
vested through the one (1) year anniversary of the Change in Control, if you had less than one (1) year of continuous service as an employee of the Company as of the Change in Control, OR  

 

	ii.	 If any of your then outstanding options are assumed by the successor corporation (or parent thereof) in
connection with a Change in Control and you experience an Involuntary Termination (as defined below) in connection with or within twelve (12) months following a Change in Control, (a) one hundred percent (100%) of the then unvested shares
subject to such outstanding options, if you had at least one (1) year of continuous service as an employee of the Company as of the Change in Control or (b) the number of then unvested shares subject to such outstanding options that
would have vested through the one (1) year anniversary of the Involuntary Termination, if you had less than one (1) year of continuous service as an employee of the Company as of the Involuntary Termination. 

 

	iii.	 An “Involuntary Termination” means that (a) the Company (or any parent or subsidiary or
successor of the Company) terminates your employment other than for Cause, death or Disability or (b) you resign following the occurrence of one or more of the following events, without your express consent: (i) a material diminution of
your authority, duties or responsibilities relative to your authority, duties, or responsibilities in effect immediately 

 
Offer letter addendum 
 prior to such diminution; it being understood that a
reduction in your authority, duties, or responsibilities following a Change in Control shall not constitute Involuntary Termination if you are given a position of materially similar or greater overall scope and responsibility within the acquiring
company, taking into appropriate consideration that a nominally lower hierarchical role in a larger company may involve similar or greater scope and responsibility than a nominally higher role in the hierarchy of a smaller company, (ii) a
material diminution in your base salary; provided, however, that a reduction of 15% or less will in no instance be deemed material, or (iii) a change in your required work location by fifty (50) miles or greater from your assigned work
location at the time of the Change in Control, as long as you provide notice of the condition to the Company (or its successor) within sixty (60) days after its occurrence, provide the Company (or its successor) with a thirty (30) day cure
period and resign within thirty (30) days after such condition is not cured. 
 For purposes hereof, (a) “Cause” is
defined as (i) an act of dishonesty by you in connection with your responsibilities as an employee; (ii) your conviction of or plea of nolo contendere to, a felony or any crime involving fraud, embezzlement or any other act of moral
turpitude; (iii) your gross misconduct committed in the performance of your services as an employee; (iv) your willful unauthorized use or disclosure of any proprietary information or trade secrets of the Company or any other party to whom
you owe an obligation of-nondisclosure as a result of your relationship with the Company; or (v) your willful breach of any material obligations under any written agreement or covenant with the Company,
which breach and the effect of such breach are not cured by you within-the thirty (30) day period after your receipt of written notice from the Company
specifying-in detail the events or conduct constituting the breach of the written agreement or covenant; and (b) “Disability” means that you, at the time notice is given, have been unable to
substantially perform your duties to the Company for not less than one hundred twenty (120) days within a twelve (12) consecutive month period as a result of your incapacity due to a physical or mental condition and, if reasonable
accommodation is required by-law, after any reasonable accommodation. 
 Except as set forth above, all-terms of your offer letter with Intermedia will remain in full force and effect, including, but not limited to, the provisions regarding the nature of your at-will
employment. Your offer letter, this addendum to your offer letter, along with any agreements relating to proprietary rights between you and the Company, constitute the terms of your employment with Intermedia, and there are no oral or written
promises, representations or inducements upon which you are relying in connection with this addendum or subsequent employment with the Company. This letter may not be modified or amended except by a written agreement signed by the Company and you.

 After your review, should you have questions, please contact me. 

Best regards, 

	
	
	/s/ Michael Gold
	Michael Gold
	Chief Executive Officer

  

			
	2	  	October 2015

 Offer letter addendum 

ACCEPTED AND AGREED: 
 I accept the October 7, 2015
addendum to my offer letter with Intermedia.net, Inc. 

	
	
	/s/ Jonathan McCormick
	Signature

  

	
	Jonathan McCormick
	Print Name

  

	
	10/8/15
	Date Signed

  

			
	3	  	October 2015

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