Document:

Exhibit

November 16, 2015

Alan Amrod
[Address]

Revised: Office Location Dear Alan,
We believe that you will make an important contribution to the success and growth of Aerohive Networks, Inc. (“Aerohive,” or the “Company”). With this in mind, we are pleased to offer you the position of VP, Global System Engineering initially reporting to Tom Wilburn, Worldwide Field Operations. This letter agreement is intended to confirm the terms of your proposed employment with us.

Consistent with this position, you will be expected to perform job-related duties as assigned from time- to-time by your manager. Your primary job location will be your home office, and at other places as Aerohive Networks may direct over time. Please confirm below with your acceptance of this offer the expected date of commencement of your employment with Aerohive.

Cash Compensation. This is an exempt position and your initial base salary will be USD $201,600 on an annualized basis (before withholdings for applicable taxes, benefits and other deductions). As an employee in good standing you will also be eligible to participate in our sales compensation program, which is dependent upon your achievement of specific sales-related targets, as outlined in the Company’s Sales Quota Sheet, then in effect. The Quota Sheet providing your specific targets will be provided to you in writing by the Company no later than 30 days after your start date.

Your variable target commission-based compensation for 2015 is USD $86,400 on an annualized basis, which comprises a USD $66,400 bookings-based commission component earned, calculated and payable monthly in arrears, and a separate USD $20,000 linearity commission component, earned, calculated and payable semi-annually in arrears after the first and third quarter of each calendar year. All such payments will be subject to applicable withholdings, taxes and deductions for benefits, etc. Your eligibility to participate in our commissions program and earn any monies will be subject to the terms and conditions of participation in our Sales Compensation Program. Commissions will be paid according to the sales compensation plan and are paid at the end of the month following the close of the prior month. Details will be outlined with the Sales Quota Sheet provided as above.

Stock Award and Employee Stock Purchase Plan. In conjunction with your commencement of employment, we will propose that our Board of Directors approve an equity award comprising, 90,000 shares of our Common Stock: 60,000 shares of which will be in the form of an option and 30,000 shares of which will be in the form of Restricted Stock Units. The equity award is subject to such Board approval and to all terms and conditions of the specific Aerohive Networks equity plan from 

which the award will issue. Once approved (and subject to your continuing employment in good standing), 25% of the shares subject to the award will vest after 12 months and the remaining shares would vest over the next 36 months of continuous service. Our Board typically considers equity awards on a quarterly basis; however, the date on which the Board acts could be later depending on a variety of factors, and this could affect the date on which your equity award is proposed for Board consideration. You will receive more details regarding the award from Stock Administration after the date on which our Board considers your proposed award. In addition, as an employee of Aerohive, you may be eligible to participate in our Employee Stock Purchase Program (ESPP). The ESPP offers employees the opportunity to purchase HIVE stock at a discount using post-tax payroll deductions. Enrollment into the program occurs twice a year, typically in May and November.

Notwithstanding the foregoing vesting schedule, and consistent with similar protections offered to members of our senior management, in conjunction with your commencement of employment, we will propose that our Board of Directors also approve entering with you the attached form of Separation and Change of Control Severance Agreement (“the Separation Agreement”), which would, once approved, provide additional benefits to you if you are terminated by the Company other than for Cause, death, or disability (as defined in the plan) or you resign for Good Reasons, and in either case you sign and do not revoke a standard form of release then-offered to the Company’s employees. These benefits, at all times as determined by and subject to the terms and conditions of the Separation Agreement, would include certain severance payments and acceleration of the then-unvested shares subject to your then-outstanding equity awards.

Benefits. Aerohive offers what we feel is a very competitive benefits package. A brief benefits summary is enclosed for your review.

Eligibility. Your eligibility to participate in Aerohive-sponsored compensation programs, be awarded equity, and receive employee benefits will be subject in each case to your continuing employment in good standing and the specific applicable terms and conditions for the programs in question (including as they may change or be administered over time). Please note that Aerohive may from time to time, in its discretion, adjust the benefits available to you and our other employees.

At Will Employment. During your employment with Aerohive, you will be expected to establish and maintain a professional, cordial relationship with co-workers, management, suppliers and customers. You will be expected to learn the requirements of the position and satisfactorily meet performance objectives over time. You also will be expected to participate actively in Aerohive’s performance improvement processes and, at all times as a condition of continuing employment, to abide by all then-current Aerohive policies and procedures and legal or regulatory requirements applicable to your employment. Aerohive’s policies and procedures relating to employment can be found in the Company’s Employee Handbook, which is available via the company Intranet, Jive.

You understand and agree that your employment with Aerohive will at all times be “at will.” It is not for a specific term and you or Aerohive can terminate it at any time, for any reason or no reason, with or without cause and with or without notice. Although your job duties, title, compensation and benefits, as well as Aerohive’s personnel policies and procedures applicable to you, may change from time to time, the “at will” nature of your employment can only be changed in an express written agreement signed by you and the Company’s CEO.

Arbitration. You and Aerohive agree to submit to mandatory, exclusive and binding arbitration any controversy, dispute or claim arising out of, or relating to, this letter agreement, your employment relationship, any benefit or compensation you claim as a result of your employment, or the fact or circumstances of employment termination. However, you and Aerohive each retain the right to seek or obtain equitable relief from a court having jurisdiction over us. The determination of this arbitration will be final, binding and non-appealable by you or Aerohive, before the American Arbitration Association, and its employment arbitration rules then in-effect, and will take place in Santa Clara County, State of California, before a single arbitrator. Aerohive will bear the costs of the arbitrator; however, you will bear your own costs and fees (including attorneys’ costs and fees) and Aerohive will bear its own costs and fees incurred in conjunction with the arbitration (or otherwise in conjunction with any controversy, dispute or claim between us).

You and Aerohive agree that this arbitration requirement shall not apply to any dispute or claim relating to the misuse or misappropriation of the Company’s trade secrets or proprietary or confidential information.

The other specific requirements and provisions of our agreement to arbitrate all controversies, disputes or claims is provided in the Agreement to Arbitrate Disputes and Claims included with this letter agreement. California Law. Unless we otherwise provide in a written agreement between us, California law will be used in all instances to govern and enforce any controversy, dispute or claim arising out of, or relating to, this letter agreement, your employment relationship, any benefit or compensation you claim as a result of your employment, or the fact or circumstances of your employment termination.

Other Conditions and Applicable Agreements. You also must provide appropriate identification establishing your identity and legal right to work within the United States, and complete and return an I-9 form within the first three (3) days of your date of hire. This offer is also contingent upon satisfactory completion and clearance of professional references and the background check.

As a further condition of our offer and your initial and continuing employment with Aerohive, you will be expected to sign and comply with certain agreements and all Aerohive policies and procedures concerning benefits, confidential information, assignment of inventions, arbitration of disputes, and business conduct, among others. In this regard, you will be asked to sign and return in conjunction with your acceptance of this offer the enclosed Employment, Confidentiality, Invention Assignment and Agreement to Arbitrate Disputes and Claims. These agreements, and the additional policies and procedures applicable to you at all times during employment with Aerohive, contain important conditions effecting your employment and your legal rights in general. Please read and review them carefully and feel free to consult with your attorney or other advisor concerning their terms, significance and effect on you.

This is Our Complete Offer Agreement. This letter agreement, along with the additional documents referenced below, constitute the full, complete and only agreement between you and Aerohive regarding your employment and Aerohive’s employment relationship with you. Any contrary communications, representations, promises or assurances which may have been made or be made to you, concerning any aspect of your employment, are superseded by this offer and of no binding effect on Aerohive. Any additions or modifications of these terms are required to be in writing and signed by you and the Company’s CEO in order to be effective and binding on Aerohive.

* * * * *

If acceptable, please sign, date and return to Human Resources this letter agreement, along with the enclosed additional documents. If not accepted before the close of business on November 17, 2015, this letter agreement and employment offer will automatically expire.

If there are any questions or concerns, please contact Valerie Junger, VP, Human Resources, via email at vjunger@aerohive.com.

We are excited to have you join our team and look forward to working with you at Aerohive. Welcome aboard!

Sincerely,

	
	
	/s/ Valerie Junger 

Valerie Junger
VP, Human Resources

I have read and understand this employment offer and agreement and accept its terms as a condition of my initial and continuing employment with Aerohive. I also specifically understand that Aerohive may revoke this offer at any time, and for any reason, prior to my actual commencement of employment and without obligation or liability to me, and that my continuing employment thereafter with Aerohive Networks shall be “at will”, subject to my compliance with all policies or procedures in effect, and terminable by me or by Aerohive at any time, for any reason, with or without cause and with or without notice.

	
	
	/s/ Alan Amrod

	Alan Amrod

	 

	November 16, 2015

	Date

	 

	November 30, 2015

	Confirmed Start Date

Confirmed legal name:
	
		
	First Name
	Alan

	 
	 

	Last Name
	Cellular Amrod

	
		
	Attachments:
	Employment, Confidentiality, Invention Assignment Agreement to Arbitrate Disputes and Claims
Employee Benefit Summary
Separation and Change of Control Severance Agreementchd-ex1092_100.htm

 

EXHIBIT 10.9.2

 

CHURCH & DWIGHT CO., INC. 

AMENDED AND RESTATED 

COMPENSATION PLAN FOR DIRECTORS 

1.    PURPOSE:    The purpose of this Amended and Restated  Compensation Plan for Directors (the “Plan”) is to provide a program that will enable Church & Dwight Co., Inc. (the “Company”) to attract and retain well-qualified persons for service as members of the Company’s Board of Directors (the “Board”) and, in so doing, more closely align the interests of the Directors with those of the stockholders through the ownership of Common Stock of the Company, par value $1.00 per share (the “Common Stock”), by Directors. The Plan is intended to encourage long-term ownership in the Company. All shares of Common Stock payable under the Plan shall be issued under the Company’s Omnibus Equity Compensation Plan. 

2.    EFFECTIVE DATE:    The Plan is effective as of January 1, 2015 (the “Effective Date”), as amended on November 1, 2017. The Plan replaces the Company’s prior Amended and Restated Compensation Plan for Directors, effective January 1, 2012, which is hereby terminated as of the Effective Date. 

3.    ELIGIBILITY:    All Directors of the Company who are not full-time employees of the Company are eligible to participate in the Plan (each, a “Participant” and, together, the “Participants”). 

4.    DETERMINATION OF COMPENSATION:    In the fourth calendar quarter of each year other than 2015, the Board will establish the Participants’ compensation for the next calendar year (the “Compensation Year”) with respect to (i) the annual retainer (the “Annual Retainer”), (ii) the fees for attending Board meetings or meetings of committees of the Board for any “special assignment” requested by the Board (the “Special Assignment Meeting Fees”) and (iii) the annual equity grant amount to be granted to Participants under the Company’s Omnibus Equity Compensation Plan.  The definition of “special assignment” shall be made by the Company’s Governance & Nominating Committee in its reasonable discretion. 

5.    DETERMINATION OF FEE-BASED COMPENSATION IN COMMON STOCK: 

(a)    All fee-based compensation (i.e., the Annual Retainer and the Special Assignment Meeting Fees) (the “Fee-Based Compensation”) paid to each Participant for each Compensation Year shall be calculated in shares of Common Stock, which shall be determined in accordance with Section 5(b) below. 

(b)    The Annual Retainer shall be divided by the closing price of a share of Common Stock as reported on the New York Stock Exchange on the last trading day of the second calendar quarter.  Special Assignment Meeting Fees, if any, shall be divided by the closing price of a share of Common Stock as reported on the New York Stock Exchange on December 20th or, if December 20th is not a trading day, on the next trading day. In the event that Special Assignment Meeting Fees become payable for meetings that occur after December 20th the Special Assignment Meeting Fees earned as a result of such meetings (“Additional Special Assignment Meeting Fees”) shall be divided by the closing price of a share of Common Stock as reported on the New York Stock Exchange on last trading day of the year. The Annual Retainer will be prorated for each Participant who is not a member of the Board for the entire calendar year. The prorated Annual Retainer shall be determined based on the number of whole or partial calendar quarters of service provided or to be provided by such Participant. For the purpose of these calculations, fractional shares shall be counted as whole shares. (For example, assume that the Annual Retainer is $90,000. If the closing price of Common Stock on the last trading day in June is $65 per share, the Annual Retainer, calculated in terms of shares of Common Stock, would be 1,384.61 shares, rounded to 1,385 shares). 

6.    CASH OPTION, ISSUANCE OF COMMON STOCK FOR FEE-BASED COMPENSATION: 

(a)    Notwithstanding anything in Section 5 to the contrary, each Participant shall elect in each December with respect to the next following Compensation Year whether, instead of receiving payments in all shares of Common Stock, the Participant shall instead receive payment of the Fee-Based Compensation hereunder 50% in cash and 50% in shares of Common Stock (or 100% in cash if, and only if, as of the date of such election, the Participant has 

 

 

 

fully satisfied the Company’s Stock Ownership Guidelines for Directors then applicable to Participant).  With respect to a Participant who has elected to receive 50% in cash, the calculation described in Section 5 shall be made with respect to only one-half of the Fee-Based Compensation, and the remainder of such Fee-Based Compensation shall be paid in cash.  With respect to a Participant who has properly elected to receive 100% in cash, the calculation described in Section 5 shall not apply, and 100% of the Fee-Based Compensation shall be paid in cash. The election under this Section 6 shall be made by providing written notice to the Company’s Secretary not later than December 31. In the event notice is not received by the Secretary by such date, then the Participant shall receive his or her compensation entirely in Common Stock. 

(b)    Any Participant who is a Director with respect to one Compensation Year, but was not a Director with respect to the immediately prior Compensation Year, shall be permitted, within 30 days of becoming a Director, to make the election described in this Section 6 with respect to the Fee-Based Compensation to be paid for such Compensation Year. 

7.    REMITTANCE OF FEE-BASED COMPENSATION:    The shares of Common Stock and cash compensation, if any, relating to the Annual Retainer shall be remitted to each Participant as soon as practicable following the end of the second calendar quarter (the “Annual Retainer Pay Date”) and in the case of the Special Assignment Meeting Fees, such shares and cash shall be remitted as soon as practicable following December 20th (the “Special Assignment Meeting Fees Pay Date”) of such Compensation Year. In the event Additional Special Assignment Meeting Fees are earned, such shares and cash shall be remitted as soon as practicable following the last trading day of such Compensation Year. A prorated Annual Retainer shall be paid on the Special Assignment Meeting Fees Pay Date except when a Participant’s service on the Board begins or ends prior to July 1. In such case, the prorated Annual Retainer shall be paid on the Annual Retainer Pay Date. All shares of Common Stock payable under this Plan shall be issued under the Company’s Omnibus Equity Compensation Plan and shall be subject in all respects to the terms of that Plan.  

 

8.    ANNUAL EQUITY GRANT:    Unless as otherwise established by the Board, annual equity grants to Participants shall be made on the date in each year on which the Company makes annual equity grants to employees (“Grant Date”); provided, however, if a Participant first becomes a Director on a date other than the Grant Date, the date of the Participant’s initial equity grant shall be the date on which such Participant commences service as a Director. Each Participant shall be granted only one (1) equity grant in each calendar year. All equity grants made under this Plan shall be issued under the Company’s Omnibus Equity Compensation Plan and shall be subject in all respects to the terms of that Plan. 

9.    RIGHTS NOT TRANSFERABLE:    The rights of a Participant under the Plan are not transferable by a Participant other than pursuant to the laws of descent and distribution. 

10.    ADMINISTRATION:    The Plan shall be administered, and the provisions interpreted, by a committee of at least three persons (all of whom shall be persons not eligible to participate in the Plan and thereby disinterested) having full discretionary authority to act (the “Committee”). The members of the Committee shall be the Chief Executive Officer, the Chief Financial Officer and the Secretary of the Company. The Committee shall record its proceedings under the Plan. 

11.    AMENDMENT OF THE PLAN:    The Board may, at any time, or from time to time, change or amend this Plan, as is deems advisable. 

12.    TERMINATION OF THE PLAN:    This Plan may be terminated at any time, at the discretion of the Board. 

13.    GOVERNING LAW:    This Plan and all determinations made and actions taken pursuant thereto shall be governed by the laws of Delaware.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00279-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00279-of-00352.parquet"}]]