Document:

Offer Letter - Lynda Ward Pierce

 Exhibit 10.9 

 

 

 July 2, 2010 

Lynda Ward Pierce 
 Dear Lynda: 

On behalf of BrightSource Energy, Inc. (the “Company”), it is my pleasure to offer you a full-time, exempt position as
Senior Vice President Human Resources, reporting to the CEO. Your position is based at our Corporate Headquarters located in Oakland, California. Subject to fulfillment of any conditions imposed by this letter, including completion of the
Company’s application and pre-employment screening process, satisfactory reference checks and, where required by applicable specific project policies and procedures, drug test, your employment with the Company will commence on July 28,
2010 (the “Start Date”). 
 Proof of Right to Work. For purposes of federal immigration law, you
will be required to provide the Company with documentary evidence of your identity and eligibility for employment in the United States within three business days of your date of hire, or our employment relationship with you may be terminated.

 Compensation. You will be paid semi-monthly, pursuant to the Company’s regular payroll policies. Your
monthly salary will be $19,167.00, which is equivalent to $230,000.00 on an annualized basis, reduced by all applicable taxes and withholding (the “Base Salary”). The Base Salary will be reviewed annually as part of the Company’s
normal salary review process. 
 Sign On Bonus. In addition to your Base Salary, you will be entitled to a Sign-On
Bonus in the gross amount of $10,000.00. The Sign-On Bonus will be payable on the first regular payroll following your Start Date, reduced by all applicable taxes and withholding. In the event that within the first year from your Start Date you
voluntarily terminate your employment with the Company for any reason or your employment is involuntarily terminated by the Company for Cause, as defined below, you agree to repay 100% of the gross amount of the Sign-On Bonus by personal check or
other negotiable instrument. 
 Incentive Bonus. In addition to your Base Salary, for each calendar year, subject
to your active employment on the date of the bonus payment and in accordance with the Executive Short Term Incentive Plan then in effect, the Company may pay you an annual discretionary bonus, currently up to 35% of your then Base Salary (the
‘Target Bonus”), paid based on a determination by the Company’s Board of Directors that the Company has met its business objectives and based on a determination by your management that you have met your position requirements. Any
bonus will be pro-rated from your Start Date and is typically paid in Q2 of the following calendar year. 
  

			
	
 

	  	 1999 Harrison Street, Suite 2150 • Oakland, Ca 94612 • Telephone: 510-650-8161 • Fax:
510-550-8165
 Email: info@brightsourceenergy.com • Website:
www.brightsourceenergv.com

 Stock Option Grant. In connection with the commencement of your
employment, the Company will recommend that the Board of Directors grant you an option to purchase 230,000 shares of the Company’s Common Stock (“Option Shares”) with an exercise price equal to the fair market value on the date
of the grant. These option shares will vest with respect to 20% of the shares on the twelve (12) month anniversary of your Vesting Commencement Date (as defined in your Stock Option Agreement, which date will be your Start Date, as defined
above) and the remaining Option Shares will vest monthly thereafter at the rate of 1/60 of the total number of the Option Shares. Vesting will depend on your continued employment with the Company. The option will be subject to the terms of the
Company’s 2006 Stock Plan and the Stock Option Agreement between you and the Company. 
 Change in Control.
If a Change in Control (as defined below) occurs and upon or within twelve (12) months following such Change in Control, (i) you are terminated by the Company other than for Cause (as defined below) death or disability or (ii) there
is a Constructive Termination (as defined below) and you terminate your employment with the Company within thirty (30) days following such Constructive Termination, then the vesting on your option to acquire Option Shares shall immediately
accelerate as to 125,000 Option Shares (or such smaller number of unvested Option Shares covered by your option at such time). 

A “Change in Control” means the occurrence of any of the following events: (i) any sale or exchange of the
capital stock by the stockholders of the Company in one transaction or series of related transactions where more than 50% of the outstanding voting power of Company is acquired by a person or entity or group of related persons or entities (other
than acquisitions by (A) the Company, (B) an Excluded Entity (as defined in subsection (ii) below), or (C) any Company benefit plan; or (ii) any reorganization, consolidation or merger of the Company other than a transaction
where the holders of the outstanding voting securities of the Company immediately before the transaction continue to directly or indirectly hold more than fifty percent 50% of the outstanding voting power of the surviving entity (or its parent
corporation) immediately after the transaction (an “Excluded Entity”); or (iii) the consummation of any transaction or series of related transactions that results in the sale of all or substantially all of the assets of the Company other
than to (A) a corporation or other entity of which at least a majority of its combined voting power is owned directly or indirectly by the Company, (B) a corporation or other entity owned directly or indirectly by the holders of capital
stock of the Company in substantially the same proportions as their ownership of the Company’s Common Stock, or (C) an Excluded Entity (as defined in subsection (ii) above).) 

Notwithstanding anything stated herein, a transaction shall not constitute a “Change in Control” if its sole purpose is to
change the state of the Company’s incorporation, or to create a holding company that will be owned in substantially the same proportions by the persons who hold the Company’s securities immediately before such transaction. For clarity, the
term “Change in Control” as defined herein shall not include stock sale transactions by the Company or equity financings by the Company. 
 A termination for “Cause” will exist at any time after the happening of one or more of the following events: (i) willful misconduct in the performance of your duties to the Company
provided such failure has not been cured within 30 days following a written notice from the Company; (ii) commission of any act of fraud with respect to Company; (iii) your conviction of a felony involving moral turpitude that is reasonably
likely to cause material harm to the standing or reputation of Company or that is committed in the performance of your duties to the Company; (iv) material and willful failure to follow the lawful written directions of the Company’s Board
of Directors or Chief Executive Officer, provided such failure has not been cured within 30 days following a written notice from the Board of Directors of 

  
 Page 2

 
the Company or the Chief Executive Officer, as applicable; or (v) material violation of the Company’s Code of Business Conduct and Ethics. 

A “Constructive Termination” means the occurrence of any of the following events which has not been cured by the Company
within thirty (30) after written notice thereof has been given by you to the Company (which you are required to give to the Company within thirty (30) days after the initial occurrence of the applicable event described below): (i) a
material reduction in your base salary not agreed to by you (other than in connection with a general decrease in base salaries for similarly situated employees); (ii) a material reduction in your job duties and responsibilities, not agreed to
by you, that is inconsistent with your prior duties and responsibilities (other than such a material reduction that occurs by reason of the Company becoming a division of a larger organization so long as you continue to be employed in a role that is
reasonably related to your prior duties taking into consideration the integration of the Company into such organization); or (iii) a requirement that you relocate to an office outside of the San Francisco Bay Area. 

Benefits Plans. Currently the Company provides benefits, payroll, and certain human resource management services through
TriNet Employer Group (“TriNet”) to all its employees. TriNet is a professional employer organization contracted by the Company to perform these selected employer responsibilities on the Company’s behalf. The Company will provide you
with the opportunity to participate in the standard health and other benefits plans currently available to other Company employees administered through TriNet, subject to any eligibility requirements imposed by such plans. Currently, the Company
contributes up to $ 1,200 per month toward whatever plan you elect. You will be provided with more detailed information specific to individual Plan offerings under separate cover. 

In addition, the Company offers the opportunity to participate in a traditional and Roth 401k Plan administered by Fidelity Investments.
The Company does not currently provide an employer match to any such employee Plan contributions. While you are employed by the Company, the Company will also provide you with a cell phone and cover the associated costs and service fees. 

Paid Time Off. As of the Start Date, you will accrue and be entitled to Paid Time Off (PTO) at an initial annual maximum
rate of 15 days, consistent with the Company’s standard policies. In addition, the Company offers its employees 11 paid Company-designated and two floating holidays annually. 

Confidential Information and Invention Assignment Agreement. Your acceptance of this offer and commencement of employment
with the Company is contingent upon your signing and returning the Company’s standard Confidential Information and Invention Assignment Agreement (“Confidentiality Agreement”), a copy of which is enclosed for your review and
signature, prior to your Start Date. 
 At-Will Employment. Your employment with the Company will be on an
“at will” basis, meaning that either you or the Company may terminate your employment at any time for any reason or no reason, without further obligation or liability. 

No Conflicting Obligations. You understand and agree that by accepting this offer of employment, you represent to the
Company that your performance will not breach any other agreement to which you are a party and that you have not, and will not during the term of your employment with the Company, enter into any oral or written agreement in conflict with any of the
provisions of this letter or the Company’s policies. You are not to bring with you to the Company, or use or disclose to any person 

  
 Page 3

 
associated with the Company, any confidential or proprietary information belonging to any former employer or other person or entity with respect to which you owe an obligation of confidentiality
under any agreement or otherwise. The Company does not need and will not use such information and we will assist you in any way possible to preserve and protect the confidentiality of proprietary information belonging to third parties, Also, we
expect you to abide by any obligations to refrain from improper solicitation of any person employed by or otherwise associated with any former employer and suggest that you refrain from having any contact with such persons until such time as any
non-solicitation obligation expires. 
 General Obligations. As an employee, you will be expected to adhere to the
Company’s standards of professionalism, loyalty, integrity, honesty, reliability and respect for all. Please note that the Company is an equal opportunity employer and will not tolerate the unlawful discrimination or harassment of any
employees, consultants, or related third parties on the basis of sex, race, color, religion, age, national origin or ancestry, marital status, veteran status, mental or physical disability or medical condition, sexual orientation, pregnancy,
childbirth or related medical condition, or any other status to the extent protected by applicable law. If you have any questions regarding this Equal Employment Opportunity statement or your related obligations, please let us know. 

Entire Agreement. This letter, together with the Confidentiality Agreement, sets forth the entire agreement and
understanding between you and the Company relating to your employment and supersedes all prior agreements and discussions between us. This letter may not be modified or amended except by a written agreement, signed by an officer of the Company,
although the Company reserves the right to modify unilaterally your compensation, benefits, job title and duties, reporting relationships and other terms of your employment. This letter will be governed by the laws of the State of California without
regard to its conflicts of law provisions. 
 Once again, we are delighted to extend you this offer and look forward to working
with you. To indicate your acceptance of the Company’s offer, please sign and date this letter in the space provided below and return it to me, along with a signed and dated copy of the Confidentiality Agreement. This offer will terminate if
not accepted by you on or before July 9, 2010. 
  

									
	Very truly yours,	 		 	ACCEPTED AND AGREED:
			
	BRIGHTSOURCE ENERGY, INC.	 		 	LYNDA WARD PIERCE
				
	By:	 	/s/ John Woolard	 		 	/s/ Lynda Ward Pierce
	Title:	 	CEO	 		 	Signature
					
	Date:	 	July 6, 2010	 		 	Date:	 	
		 		 		 	July 5, 2010	 	

  
 Page 4Offer Letter - John E. Bryson

 Exhibit 10.10 

 

 

 August 23, 2010 
 John E. Bryson 
 2244 Walnut Grove Avenue 
 P.O. Box 976 
 Rosemead, CA 91770 
 Dear John: 
 On behalf of BrightSource Energy, Inc. (the “Company”), it
is my pleasure to invite you to serve as a member of the Board of Directors of BrightSource Energy, Inc. (the “Board”), subject to your election by the Company’s shareholders. Your election date will also serve as your start date (the
“Start Date”). Either you or the Company’s shareholders may terminate this relationship at any time and for any reason. 
 Duties and Responsibilities. In performing your duties and responsibilities, we expect that you will attend and participate in approximately four Board and associated. Committee meetings
annually, as applicable, one of which will typically be held at our offices in Jerusalem, Israel (the “Services”). We also expect that you will attend such additional meetings that business needs may require from time to time, including
attending additional meetings in Jerusalem, Israel and at other Company locations. 
 Board Fees. In
connection with your performance of the Services, the Company will pay you for your Services based on the following current Board Approved schedule of fees and Equity LTI for the applicable Services that you are requested to provide: 

 

					
	 •       Annual Retainer:
	  			
	          Board of Directors Chair
	  	$	31,000	  
	          Nominating & Governance Committee Chair
	  	$	5,000	  
	          One-time Equity LTI
	  	 	100,000 shares	  
	 •       Fees for In Person Meeting Attendance:
	  			
	          Board of Directors Chair fee
	  	$	3,000	  
	          Board of Directors non-Chair fee
	  	$	1,500	  
	          Member of Compensation Committee
	  	$	1,250	  
	          Nominating & Governance Committee Chair fee
	  	$	1,000	  
	          Nominating & Governance Committee member fee
	  	$	1,000	  

  

			
	
 

	  	 1999 Harrison Street, Suite 2150 • Oakland, Ca 94612 • Telephone: 510-550-8161 • Fax:
510-550-8165
 Email: info@brightsourceenergy.com • Website:
www.brightsourceenergy.com

 Page 2 – John E. Bryson Offer Letter 

 

					
	 •       Fees for Telephonic Meeting Attendance:
	  			
	          Board of Directors Member
	  	$	750	  
	          Committees (Chair or Member)
	  	$	750	  

Stock Option Grant. In connection with the commencement of your Services, the Company will recommend
that the Board of Directors grant you an option to purchase 100,000 shares of the Company’s Common Stock (“Option Shares”). The Option Shares will have an exercise price equal to the fair market value of the Company’s
Common Stock on the date of the grant. These Option Shares will vest monthly at a rate of 1/60th of the total number of Option Shares starting on the Vesting Commencement Date (as defined in your Stock Option Agreement, which date will be your Start Date, as defined above, for purposes of your
initial grant of Option Shares) for 60 months. Vesting will depend upon your continued Services with Company, however, in the event you leave the Company through no fault of your own (e.g. you do not voluntarily resign and you are not terminated for
cause) before the end of the 60th month of service, then
the vesting on any then unvested Option Shares associated with this new hire grant shall immediately accelerate upon termination of your Services. The option will be subject to the terms of the Company’s 2006 Stock Plan and the Stock Option
Agreement between you and the Company. The Company reserves the right to grant you other forms of equity-based compensation in lieu of Option Shares having the same grant value. The Company may, at its sole discretion, also grant you additional
shares thereafter consistent with the Company’s then current outside director compensation program, while you are performing the Services. 
 Service Related Expenses. The Company will reimburse you for necessary and reasonable expenses incurred in the course and scope of performing the Services, consistent with the Company’s
standard Expense Reimbursement policy and subject to reasonable evidence that the amount involved was expended for and related to the Services. 
 Confidential Information and Invention Assignment Agreement. Your acceptance of this offer and commencement of Services with the Company is contingent upon your signing and returning the
Company’s standard Consultant Confidential Information and Invention Assignment Agreement (“Confidentiality Agreement”) prior to your Start Date, a copy of which is enclosed for your review and signature. 

No Conflicting Obligations. You represent to the Company that your performance of the Services will not breach any other
agreement to which you are a party and that you have not, and will not during the term of your Services for the Company, enter into any oral or written agreement in conflict with any of the provisions of this letter or the Company’s policies.
You are not to use or disclose to any person associated with the Company, any confidential or proprietary information belonging to another person or entity with respect to which you owe an obligation of confidentiality under any agreement or
otherwise. The Company does not need and will not use such information and we will assist you in any way possible to preserve and protect the confidentiality of proprietary information belonging to third parties. Also, we expect you to

 Page 3 – John E. Bryson Offer Letter 
 abide by any obligations to refrain from soliciting any person employed by or otherwise associated with any former employer and suggest that you refrain from having any contact with such persons until
such time as any non-solicitation obligation expires. 
 Taxes. The Company is not providing you and will
not provide you tax advice. All taxes in connection with the Services are solely your responsibility. 
 Entire
Agreement. This letter, together with the Confidentiality Agreement, sets forth the entire agreement and understanding between you and the Company relating to your Services and supersedes all prior agreements and discussions between us. This
letter will be governed by the laws of the State of California without regard to its conflicts of law provisions. 
 Once again,
we are delighted to extend you this offer. To indicate your acceptance of the Company’s offer, please sign and date this letter in the space provided below and return it to me, along with a signed and dated copy of the Confidentiality
Agreement. This offer will terminate if not accepted by you on or before August 24, 2010 and is subject to your election to the Board by the Company’s shareholders. 
 Sincerely, 
  

					
			
	/s/ John Woolard	 		 	 
	John Woolard	 		 	
	Chief Executive Officer	 		 	
	BrightSource Energy, Inc.	 		 	
			
	ACCEPTED AND AGREED:	 		 	
			
	/s/ John Bryson	 		 	August 24, 2010
	John Bryson Signature	 		 	Date

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