Document:

Ex. 10.1 1 Assignment of Mgmt Agreement

EXHIBIT 10.11

The Residences on McGinnis Ferry
ASSIGNMENT OF MANAGEMENT AGREEMENT
This ASSIGNMENT OF MANAGEMENT AGREEMENT (this “Assignment”) dated as of October 16, 2014 is executed by and among (i) STAR MCGINNIS FERRY, LLC, a Delaware limited liability company (“Borrower”), (ii) BERKADIA COMMERCIAL MORTGAGE LLC, a Delaware limited liability company (“Lender”), and (iii) STEADFAST MANAGEMENT COMPANY, INC., a California corporation (“Manager”).
RECITALS:
A.    Borrower is the owner of a multifamily residential apartment project located in Suwanee (Gwinnett County), Georgia (the “Mortgaged Property”).
B.    Manager is the managing agent of the Mortgaged Property pursuant to a Management Agreement dated as of October 16, 2014, between Borrower and Manager (the “Management Agreement”).
C.    Pursuant to that certain Multifamily Loan and Security Agreement dated as of the date hereof, executed by and between Borrower and Lender (as amended, restated, replaced, supplemented or otherwise modified from time to time, the “Loan Agreement”), Lender has agreed to make a loan to Borrower in the original principal amount of Seventy-Three Million Six Hundred Sixty Thousand Six Hundred and 00/100 Dollars ($73,660,600.00) (the “Mortgage Loan”), as evidenced by that certain Multifamily Note dated as of the date hereof, executed by Borrower and made payable to the order of Lender in the amount of the Mortgage Loan (as amended, restated, replaced, supplemented or otherwise modified from time to time, the “Note”).
D.    In addition to the Loan Agreement, the Mortgage Loan and the Note are also secured by, among other things, a certain Multifamily Mortgage, Deed of Trust or Deed to Secure Debt dated as of the date hereof, which encumbers the Mortgaged Property (as amended, restated, replaced, supplemented or otherwise modified from time to time, the “Security Instrument”; the Loan Agreement, the Note, the Security Instrument, and all other documents evidencing or securing the Mortgage Loan, the “Loan Documents”).
E.    Borrower is willing to assign its rights under the Management Agreement to Lender as additional security for the Mortgage Loan.
F.    Manager is willing to consent to this Assignment and to attorn to Lender upon receipt of notice of the occurrence of an Event of Default (as hereinafter defined) by Borrower under the Loan Documents, and perform its obligations under the Management Agreement for Lender, or its successors in interest, or to permit Lender to terminate the Management Agreement without liability.
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, Borrower, Lender and Manager agree as follows:

	
			
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AGREEMENTS:
Section 1.Recitals.
The recitals set forth above are incorporated herein by reference as if fully set forth in the body of this Assignment.
Section 2.Assignment.
Borrower hereby transfers, assigns and sets over to Lender, its successors and assigns, all right, title and interest of Borrower in and to the Management Agreement.  Manager hereby consents to the foregoing assignment.  The foregoing assignment is being made by Borrower to Lender as collateral security for the full payment and performance by Borrower of all of its obligations under the Loan Documents.  Although it is the intention of the parties that the assignment hereunder is a present assignment, until the occurrence of any default or failure to perform or observe any obligation, condition, covenant, term, agreement or provision required to be performed or observed by Borrower or any other party under any of the Loan Documents beyond any applicable grace or cure period provided for therein (an “Event of Default”), Borrower may exercise all rights as owner of the Mortgaged Property under the Management Agreement, except as otherwise provided in this Assignment.  The foregoing assignment shall remain in effect as long as the Mortgage Loan, or any part thereof, remains unpaid, but shall automatically terminate upon the release of the Security Instrument as a lien on the Mortgaged Property.
Section 3.Representations and Warranties.
Borrower and Manager represent and warrant to Lender that (a) the Management Agreement is unmodified and is in full force and effect, (b) the Management Agreement is a valid and binding agreement enforceable against the parties in accordance with its terms, and (c) neither party is in default in performing any of its obligations under the Management Agreement.  Borrower further represents and warrants to Lender that it has not executed any prior assignment of the Management Agreement, nor has it performed any acts or executed any other instrument which might prevent Lender from operating under any of the terms and conditions of this Assignment, or which would limit Lender in such operation.  Manager further represents and warrants to Lender that (1) Manager has not assigned its interest in the Management Agreement, (2) Manager has no notice of any prior assignment, hypothecation or pledge of Borrower’s interest under the Management Agreement, (3) as of the date hereof, Manager has no counterclaim, right of set-off, defense or like right against Borrower, and (4) as of the date hereof, Manager has been paid all amounts due under the Management Agreement.
Section 4.Lender’s Right to Cure.
In the event of any default by Borrower under the Management Agreement, Lender shall have the right, but not the obligation, upon notice to Borrower and Manager and until such default is cured, to cure any default and take any action under the Management Agreement to preserve the same.  Borrower hereby grants to Lender the right of access to the Mortgaged Property for this purpose, if such action is necessary.  Borrower hereby authorizes Manager to accept the performance of Lender in such event, without question.  Any advances made by Lender to cure a default by Borrower under the Management Agreement shall become part of the indebtedness and shall bear interest at the Default Rate under the Loan Agreement and shall be secured by the Security Instrument.

	
			
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Section 5.Covenants.
(a)    Borrower Covenants.
Borrower hereby covenants with Lender that, during the term of this Assignment:
(1)    Borrower shall not assign Borrower’s interest in the Management Agreement or any portion thereof, or transfer the responsibility for management of the Mortgaged Property from Manager to any other person or entity without the prior written consent of Lender;
(2)    Borrower shall not cancel, terminate, surrender, modify or amend any of the terms or provisions of the Management Agreement without the prior written consent of Lender;
(3)    Borrower shall not forgive any material obligation of the Manager or any other party under the Management Agreement, without the prior written consent of Lender;
(4)    Borrower shall perform all obligations of Borrower under the Management Agreement in accordance with the provisions thereof, any failure of which would constitute a default under the Management Agreement; and
(5)    Borrower shall give Lender written notice of any notice or information that Borrower receives which indicates that Manager is terminating the Management Agreement or that Manager is otherwise discontinuing its management of the Mortgaged Property.
Subject to Section 14.01(c) of the Loan Agreement, any of the foregoing acts done or suffered to be done without Lender’s prior written consent shall constitute an Event of Default.
(b)    Affiliated Manager Subordination.
Manager agrees that:
(1)    (A) any fees payable to Manager pursuant to the Management Agreement are and shall be subordinated in right of payment, to the extent and in the manner provided in this Assignment, to the prior payment in full of the indebtedness described in the Loan Agreement, and (B) the Management Agreement is and shall be subject and subordinate in all respects to the liens, terms, covenants and conditions of the Security Instrument and the other Loan Documents and to all advances heretofore made or which may hereafter be made pursuant to the Loan Documents (including all sums advanced for the purposes of (i) protecting or further securing the lien of the Security Instrument, curing Events of Default by Borrower under the Loan Documents or for any other purposes expressly permitted by the Loan Documents, or (ii) constructing, renovating, repairing, furnishing, fixturing or equipping the Mortgaged Property);
(2)    if, by reason of its exercise of any other right or remedy under the Management Agreement, Manager acquires by right of subrogation or otherwise a lien on the Mortgaged Property which (but for this Section 5(b)) would be senior to the lien of the Security Instrument, then, in that event, such lien shall be subject and subordinate to the lien of the Security Instrument;

	
			
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(3)    until Manager receives notice (or otherwise acquires actual knowledge) of an Event of Default, Manager shall be entitled to retain for its own account all payments made under or pursuant to the Management Agreement;
(4)    after Manager receives notice (or otherwise acquires actual knowledge) of an Event of Default, it will not accept any payment of fees under or pursuant to the Management Agreement without Lender’s prior written consent;
(5)    if, after Manager receives notice (or otherwise acquires actual knowledge) of an Event of Default, Manager receives any payment of fees under the Management Agreement, or if Manager receives any other payment or distribution of any kind from Borrower or from any other person or entity in connection with the Management Agreement which Manager is not permitted by this Assignment to retain for its own account, such payment or other distribution will be received and held in trust for Lender and unless Lender otherwise notifies Manager, will be promptly remitted, in cash or readily available funds, to Lender, properly endorsed to Lender, to be applied to the principal of, interest on and other amounts due under the Loan Documents evidencing and securing the Loan in such order and in such manner as Lender shall determine in its sole and absolute discretion.  Manager hereby irrevocably designates, makes, constitutes and appoints Lender (and all persons or entities designated by Lender) as Manager’s true and lawful attorney in fact with power to endorse the name of Manager upon any checks representing payments referred to in this Section 5(b), which power of attorney is coupled with an interest and cannot be revoked, modified or amended without the written consent of Lender;
(6)    Manager shall notify (via telephone or email, followed by written notice) Lender of Manager’s receipt from any person or entity other than Borrower of a payment with respect to Borrower’s obligations under the Loan Documents, promptly after Manager obtains knowledge of such payment; and
(7)    during the term of this Assignment, Manager will not commence or join with any other creditor in commencing any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings with respect to Borrower, without Lender’s prior written consent.
Section 6.    Lender’s Rights Upon an Event of Default.
(a)    Upon receipt by Manager of written notice from Lender that an Event of Default has occurred and is continuing, Lender shall have the right to exercise all rights as owner of the Mortgaged Property under the Management Agreement.
(b)    Borrower agrees that after Borrower receives notice (or otherwise has actual knowledge) of an Event of Default, it will not make any payment of fees under or pursuant to the Management Agreement without Lender’s prior written consent.
Section 7.    Termination of Management Agreement.
After the occurrence and during the continuance of an Event of Default, Lender (or its nominee) shall have the right any time thereafter to terminate the Management Agreement, without cause and without liability, by giving written notice to Manager of its election to do so.  Lender’s notice shall specify the date of termination, which shall not be less than thirty (30) days after the date of such notice.

	
			
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Section 8.    Books and Records.
On the effective date of termination of the Management Agreement, Manager shall turn over to Lender all books and records relating to the Mortgaged Property (copies of which may be retained by Manager, at Manager’s expense), together with such authorizations and letters of direction addressed to tenants, suppliers, employees, banks and other parties as Lender may reasonably require.  Manager shall cooperate with Lender in the transfer of management responsibilities to Lender or its designee.  A final accounting of unpaid fees (if any) due to Manager under the Management Agreement shall be made within sixty (60) days after the effective date of termination, but Lender shall not have any liability or obligation to Manager for unpaid fees or other amounts payable under the Management Agreement which accrue before Lender (or its nominee) acquires title to the Mortgaged Property, or Lender becomes a mortgagee in possession.
Section 9.    Notice.
(a)    Process of Serving Notice.
All notices under this Assignment shall be:
(1)in writing and shall be:
(A)delivered, in person;
(B)mailed, postage prepaid, either by registered or certified delivery, return receipt requested;
(C)sent by overnight courier; or
(D)sent by electronic mail with originals to follow by overnight courier;
(2)addressed to the intended recipient at its respective address set forth at the end of this Assignment; and
(3)deemed given on the earlier to occur of:
(A)    the date when the notice is received by the addressee; or
(B)    if the recipient refuses or rejects delivery, the date on which the notice is so refused or rejected, as conclusively established by the records of the United States Postal Service or any express courier service.
(b)    Change of Address.
Any party to this Assignment may change the address to which notices intended for it are to be directed by means of notice given to the other parties to this Assignment in accordance with this Section 9.
(c)    Default Method of Notice.
Any required notice under this Assignment which does not specify how notices are to be given shall be given in accordance with this Section 9.

	
			
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(d)    Receipt of Notices.
Borrower, Manager and Lender shall not refuse or reject delivery of any notice given in accordance with this Assignment.  Each party is required to acknowledge, in writing, the receipt of any notice upon request by the other party.
Section 10.    Counterparts.
This Assignment may be executed in any number of counterparts, each of which shall be considered an original for all purposes; provided, however, that all such counterparts shall constitute one and the same instrument.
Section 11.    Governing Law; Venue and Consent to Jurisdiction.
(a)    Governing Law.
This Assignment shall be governed by the laws of the jurisdiction in which the Mortgaged Property is located (the “Property Jurisdiction”), without regard to the application of choice of law principles.
(b)    Venue; Consent to Jurisdiction.
Any controversy arising under or in relation to this Assignment shall be litigated exclusively in the Property Jurisdiction without regard to conflicts of laws principles.  The state and federal courts and authorities with jurisdiction in the Property Jurisdiction shall have exclusive jurisdiction over all controversies which shall arise under or in relation to this Assignment.  Borrower irrevocably consents to service, jurisdiction and venue of such courts for any such litigation and waives any other venue to which it might be entitled by virtue of domicile, habitual residence or otherwise.
Section 12.    Severability; Amendments.
The invalidity or unenforceability of any provision of this Assignment shall not affect the validity or enforceability of any other provision of this Assignment, all of which shall remain in full force and effect.  This Assignment contains the complete and entire agreement among the parties as to the matters covered, rights granted and the obligations assumed in this Assignment.  This Assignment may not be amended or modified except by written agreement signed by the parties hereto.
Section 13.    Construction.
(a)    The captions and headings of the sections of this Assignment are for convenience only and shall be disregarded in construing this Assignment.
(b)    Any reference in this Assignment to an “Exhibit” or “Schedule” or a “Section” or an “Article” shall, unless otherwise explicitly provided, be construed as referring, respectively, to an exhibit or schedule attached to this Assignment or to a Section or Article of this Assignment.  All exhibits and schedules attached to or referred to in this Assignment, if any, are incorporated by reference into this Assignment.
(c)    Any reference in this Assignment to a statute or regulation shall be construed as referring to that statute or regulation as amended from time to time.

	
			
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(d)    Use of the singular in this Assignment includes the plural and use of the plural includes the singular.
(e)    As used in this Assignment, the term “including” means “including, but not limited to” or “including, without limitation,” and is for example only and not a limitation.
(f)    Whenever Borrower’s knowledge is implicated in this Assignment or the phrase “to Borrower’s knowledge” or a similar phrase is used in this Assignment, Borrower’s knowledge or such phrase(s) shall be interpreted to mean to the best of Borrower’s knowledge after reasonable and diligent inquiry and investigation.
(g)    Unless otherwise provided in this Assignment, if Lender’s approval, designation, determination, selection, estimate, action or decision is required, permitted or contemplated hereunder, such approval, designation, determination, selection, estimate, action or decision shall be made in Lender’s sole and absolute discretion.
(h)    All references in this Assignment to a separate instrument or agreement shall include such instrument or agreement as the same may be amended or supplemented from time to time pursuant to the applicable provisions thereof.
(i)    “Lender may” shall mean at Lender’s discretion, but shall not be an obligation.
IN WITNESS WHEREOF, Borrower, Lender and Manager have signed and delivered this Assignment under seal (where applicable) or have caused this Assignment to be signed and delivered under seal (where applicable), each by its duly authorized representative.  Where applicable law so provides, Borrower, Lender and Manager intend that this Assignment shall be deemed to be signed and delivered as a sealed instrument.

[Remainder of Page Intentionally Blank]

	
			
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BORROWER:

STAR MCGINNIS FERRY, LLC, a Delaware limited liability company

		
	By:
	Steadfast Apartment Advisor, LLC, a Delaware limited liability company, its Manager

	
			
	By:
	/s/ Kevin J. Keating

	 
	Kevin J. Keating

	 
	Treasurer

		
	Address:
	c/o The Steadfast Companies 
18100 Von Karman Avenue, Suite 500 
Irvine, California 92612

	
			
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LENDER:
BERKADIA COMMERCIAL MORTGAGE LLC, a Delaware limited liability company

	
			
	By:
	/s/ Scott A. McIntyre

	 
	Scott A. McIntyre

	 
	Authorized Representative

		
	Address:
	118 Welsh Road 
Horsham, Pennsylvania  19044 
Attn:  Servicing - Executive Vice President

	
			
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PROPERTY MANAGER:
STEADFAST MANAGEMENT COMPANY, INC., a California corporation

	
			
	By:
	/s/ Ana Marie del Rio

	 
	Name:
	Ana Marie del Rio

	 
	Title:
	Vice President

		
	Address:
	c/o The Steadfast Companies 
18100 Von Karman Avenue, Suite 500 
Irvine, California 92612

	
			
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	© 2013 Fannie MaeQ2 2015 Exhibit 10.2

Exhibit 10.2

October 6, 2014

Mary Ellen Genovese

   2125 O'Nel Drive

   San Jose, Ca. 95131

RE: Chief Financial Officer at 8x8, Inc. (Nasdaq: EGHT)

Dear Mary Ellen,

On behalf of 8x8, Inc., a Delaware corporation (the "Company"), I am pleased to offer you the position of Chief Financial Officer beginning November 1, 2014.  You will cease
being the Company's Senior Vice President of Human Resources at that time.  The terms of your new employment relationship with the Company will be as set forth below and will be subject
to the approval of the Company's Chief Executive Officer.

1.  Position.  You will become Chief Financial Officer.  As such, you will have responsibilities as determined by the Company's Chief
Executive Officer and the Audit Committee of the Board of Directors.  Your duties and responsibilities are subject to change depending on the needs of the Company. 

2.  Compensation.

a. Base Salary.  You will be paid an annualized salary of $315,500 payable in accordance with the Company's standard payroll policies
subject to normal required withholding.  

b. Salary Review.  Your base salary will be reviewed as part of the Company's normal salary review process.

c. Expenses.  You will be reimbursed for all reasonable and necessary business expenses incurred in the performance of your duties as
provided in the Company's Employee Handbook.

3. Management Incentive Plan. You will be eligible to participate in the Company's Management Incentive Plan, with a target annual bonus of 60% of your annual base salary.  The
Management Incentive Plan will be paid (if minimum targets are met) in the calendar year in which the relevant fiscal year ends, promptly after the completion of each fiscal year's audit.  Your
new target will be effective November 1, 2014, and your current target rate will remain in place through the end of October. 

4. Stock Awards.  

(a) Initial Equity Grants:  Subject to approval by the Board of Directors, you will receive the following awards of stock-based compensation
under the Company's 2012 Equity Incentive Plan(2012 Stock Plan) with the number of shares subject to each award to be calculated by dividing the value of each award stated below based
on 30 trading-day average closing price of a share of the Company's Common Stock immediately prior to the grant date, and vesting commencing on the applicable grant date:

Page 2 

(i)    a nonstatutory stock option valued currently at $787,500 to purchase shares of Common Stock at an exercise price per share equal to Market Value (as defined in the 2012 Stock Plan)
on the grant date, vesting as to one-fourth (1/4) of the shares subject to the option on the first anniversary of the grant date and as to one thirty-sixth (1/36) of the remaining shares at the end
of each consecutive month thereafter, subject to your continued service;

(ii)    RSUs for shares of Common Stock currently valued at $187,500, which shares are subject to two vesting conditions: (A) none of such RSUs shall vest unless and until the average of the
Market Value of the Common Stock exceeds 150% of the Market Value on the grant date for at least one period of 30 consecutive trading-days during the four-year period following the grant
date; and (B) if condition (A) is met, then 25% of such RSUs will vest on each consecutive anniversary of the grant date, subject to your continued service.  If condition (A) is met prior to an
annual vesting date in condition (B), the unvested RSUs shall remain subject to the annual vesting requirement in condition (B).  If condition (A) is not met within the four-year period, none of
such RSUs will ever vest;

(iii)    RSUs for shares of Common Stock ("TSR Performance Shares") currently valued at $187,500, which shares will vest subject to your continued service and the performance
of the price per share of the Common Stock relative to the NASDAQ Composite Index (^IXIC) over the following three measurement periods:

(A)25% of the TSR Performance Shares can be earned between the grant date and March 31, 2016;

(B)50% of the TSR Performance Shares can be earned between the grant date and March 31, 2017;

(C)25% of the TSR Performance Shares can be earned between the grant date and March 31, 2018;

where in each such measurement period, (1) if the performance return on the price per share of Common Stock exceeds the performance return on the NASDAQ Composite Index,
(which shall be determined by subtracting the percentage return on the NASDAQ Composite Index from the percentage return on the price per share of the Common Stock), then all of the
TSR Performance Shares for such measurement period will be deemed earned and will vest; (2) if the performance return on the price per share of Common Stock is more than 50% lower
than the performance return on the NASDAQ Composition Index, then none of the TSR Performance Shares for such measurement period will be deemed earned or vest; and (3) if the
performance return on the price per share of Common Stock is between 0% and 50% lower than the performance return on the NASDAQ Composite Index, then the number of TSR
Performance Shares deemed earned and vesting for such measurement period will be reduced by 2% for each 1% by which the performance return on the NASDAQ Composite Index
exceeds the performance return on the Common Stock. The performance return on each of the price per share of Common Stock and the NASDAQ Composite Index will be determined in the
manner described in SEC Regulation S-K, Item 201(e)(1), which assumes a dollar amount invested in each at the applicable price of the Common Stock and the NASDAQ Composite Index
at the beginning of the measurement period, and which shall be compared with the dollar value of the

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investment at the end of the measurement period based on the 30-day trading average
price of each of the Common Stock and the NASDAQ Composite Index prior to and through the grant date and the last trading day of each of the relevant measurement periods, as the case may be.

Ex.1 - Assume that for the period from the grant date through March 31 2016 the beginning and ending prices per share of Common Stock (determined as provided above)
are $9.50 and $12.00, respectively, and the beginning and ending ^IXIC are 3,660 and 3,750, respectively.  Assume no dividends are paid by the Company during the period.  Therefore,
$100 invested in Common Stock at the beginning of the period is worth $126 at the end, a 26% return, and $100 invested in ^IXIC at the beginning of the period is worth $103 at the end, a
return of 3%.  Therefore, the performance return on the price per share of Common Stock exceeds the performance return on the NASDAQ Composite Index so if you are in continued service
to the Company on March 31, 2016 you will earn and vest as to 25% of the TSR Performance Shares.

Ex.2 - Assume that for the period from the grant date through March 31, 2017, the beginning and ending prices per share of Common Stock (determined as provided
above) are $9.50 and $8.00, respectively, and the beginning and ending ^IXIC are 3,660 and 3,250, respectively.  Assume no dividends are paid by the Company during the period.
Therefore, $100 invested in Common Stock at the beginning of the period is worth $84 at the end, (-16%) return, and $100 invested in ^IXIC at the beginning of the period is worth $89 at the
end, (-11%) return.  The performance return on the price per share of Common Stock compared with the ^IXIC is (-5%) worse than the performance return on the NASDAQ Composite Index.
Therefore, the total number of TSR Performance Shares for the period is reduced by 10% (5% x 2) and 90% of the 50% of the TSR Performance Shares eligible to be earned during such
measurement period, or 45% of the total number of TSR Performance Shares will be earned and vest, if you were in continuous service to the Company through March 31, 2017.

(b)    Share Retention:  You agree to acquire and retain an ownership interest in Common Stock which is equal in value to one times the amount of your base salary in Paragraph
2(a).  Shares counted for this purpose will consist of shares of Common Stock you own directly by whatever means acquired, shares under unvested RSUs that are subject only to time-based
vesting, shares held in a 401(k) or similar plan, and shares acquired under the Company's Employee Stock Purchase Plan.  You will have five years from your start date in which to meet this
stock ownership threshold.  If at any time thereafter, while you remain Chief Financial Officer of the Company, your aggregate share ownership as defined in this Paragraph 4(b) should fall
below the threshold, you agree to retain shares as they vest and you acquire them, and not to sell any of your shares of Common Stock, until your share ownership exceeds the threshold.  In
the event of a termination of your employment, or a Corporate Transaction, this Paragraph 3(b) shall become inapplicable.

(c)    Corporate Transaction:  In the event that you are subject to an Involuntary Termination (as defined below) within one year following a Corporate Transaction:

 (i)if the condition in Paragraph 4(a)(ii) has been met as of the closing date of the Corporate Transaction (based on the price per share of Common Stock being paid in such
transaction), vesting shall accelerate with respect to the percentage of then unvested RSUs still subject to the condition in Paragraph 4(a)(ii)(B), which equals 100% times the quotient of the
number of months from the grant date to such closing date divided by 48,

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and the remainder of the unvested RSUs will continue to vest in accordance with the original vesting schedule, subject only to your continued service subsequent to the Corporate Transaction; 

(ii)    any TSR Performance Shares for which the performance conditions in Paragraph 4(a)(iii) have been met as of the closing date of the Corporate Transaction (based on the price per
share of Common Stock being paid in such transaction) shall be settled by delivery of the corresponding number of shares of Common Stock, and all other unvested TSR Performance
Shares shall vest over the remainder of the original period expiring March 31, 2018, subject only to your continued service subsequent to the Corporate Transaction with no further
performance conditions; and

(iii)    all remaining unvested options and RSUs as of the closing date of the Corporate Transaction shall continue to vest thereafter subject only to your continued service and if, your
employment is terminated without Cause (as defined below) within 12 months following a Corporate Transaction of the Company, all of your remaining unvested options and RSUs granted
under Paragraph 4 will vest in full.

(d)"Involuntary Termination" means any of the following events:  (i) without your express written
consent, a significant reduction of your duties, position or responsibilities relative to your duties, position or responsibilities in effect immediately prior to such reduction; (ii) without your
express written consent, a material reduction by the Company (or its successor) of your base salary as in effect immediately prior to such reduction; (iii) without your express written consent,
a material reduction by the Company (or its successor) in the kind or level of employee benefits to which you were entitled immediately prior to such reduction with the result that your overall
benefits package is significantly reduced; (iv) without your express written consent, your relocation to a facility or a location more than 25 miles from our San Jose, CA.  location immediately
prior to such relocation; or (v) any purported termination of you other than for Cause (as defined below); and 

(e)"Cause" means:  (i) any act of personal dishonesty taken by you in connection with your
responsibilities in your service to the Company which is intended to result in your personal enrichment; (ii) your conviction of a felony; (iii) any act by you that constitutes material misconduct
and is injurious to the Company; (iv) any breach of fiduciary duty to the company, (v) a material breach of any agreement with the company, or (vi) your initiating litigation against the
company.

5.  Benefits.  The Company will continue to make available to you standard vacation, medical and dental insurance benefits, a 401(k) Plan, and Employee Stock Purchase Plan.

6.  Standard Confidentiality and Inventions Assignment Agreement.  You will remain bound by the Company's standard Confidential
Information and Inventions Assignment Agreement (the "Confidentiality Agreement") which you signed on July 1, 2014.

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7.  At-Will Employment.  You will continue to be an employee-at-will, meaning that either you or the Company may terminate your employment at any time, without notice, for any
reason or no reason without further obligation or liability to either party.  Such termination will not affect the parties' respective obligations under the Confidentiality Agreement.  You will
receive the Company's Employee Handbook with all of our policies and procedures on your first day of employment.

8.  No Outside Consulting.  You agree to not sit on any board of directors, or do any outside consulting work for any other person or company while employed
full-time at the Company other than with the advance written approval of the Chief Executive Officer of the Company.

9.  Effective Date.  Your new position will be become effective as of November 1, 2014.

Please indicate your acceptance by signing and returning a copy of the signed letter to me via e-mail or facsimile at 408-436-6417. 

Congratulations on your new assignment!

Sincerely,

8X8, INC.

By: /s/ Vikram Verma      

                                        Vikram Verma

                                   Chief Executive Officer

ACCEPTED:

 Mary Ellen Genovese 

   Mary Ellen Genovese

Date:  ________________________

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00236-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00236-of-00352.parquet"}]]