Document:

EX-10.17

 Exhibit 10.17 
  

 
 June 6, 2012 
 Michael
Diamond 
 via email 
 Dear Mike: 

On behalf of Mitek Systems, Inc. (referred to herein as “Mitek” or the “Company”), I am pleased to confirm the offer of regular, full-time
employment extended to you for the position of SVP, Sales & Business Development, reporting to Jim DeBello, President & Chief Executive Officer. Your hire date is expected to be on or about June 11, 2012, and is subject to
Mitek’s standard reference and background checks. Further details of this offer are as follows: 
  

			
	 Base Salary:
	 	 You will earn an annualized base salary of $175,000 paid bi-weekly in the amount of $6,730.77.

		
	 Incentives:
	 	 You will have the opportunity to earn an annual “on target” variable compensation of $175,000. The provision of the “on target” variable
compensation shall be established by Mitek, and an annualized pro rata amount guaranteed through September 20, 2012.

		
	 Stock Options:
	 	 Pending your acceptance of this offer, we will request that the Board of Directors approves your participation in the Mitek 2012 Incentive Plan with a stock
option grant of 175,000 shares of Mitek Common Stock and a restricted stock grant of 25,000 shares of Mitek Common Stock. The option grant will vest over 4 years from your hire date, 25% of which will vest on the one-year anniversary of your date of
hire and the remaining 75% will vest in equal monthly increments over the next 36 months following the anniversary of the date of grant. The restricted stock grand will vest over 4 years from you hire date, 25% on each anniversary of your date of
hire. The price of your stock options will be based on the fair market value of Mitek’s common stock on the later of your hire date or the date your option grant is approved by the Board of Directors. You will be provided details of the 2012
Incentive Plan at that time.

		
	 Change in Control:
	 	 Any severance and accelerated vesting of stock options or other equity awards shall be pursuant to the terms and conditions of a change of control agreement
to be provided.

		
	 Benefits:
	 	 As a regular, full-time employee of Mitek you will be eligible for group benefits for yourself and your eligible dependents effective on the first day of
the month following your hire date. Basic benefits include a comprehensive health insurance plan; dental insurance and vision care insurance. In addition you will be eligible for term life insurance and long-term disability insurance. You will also
accrue three weeks, equal to fifteen days, of paid vacation per year; seven paid sick days and ten paid holidays, in accordance with Company policy. In addition, you will be eligible to participate in the Mitek Systems Inc. 401(k) Savings Plan and
Mitek’s Flexible Spending Plan.

		
		 	 You will be asked to contribute a portion of the cost of your own insurance coverage and any dependent coverage you elect. The cost of coverage will vary
based upon the number of dependents covered and plan selection. Any premiums, you pay, however, will be paid pre-tax. Full details of employee benefits will be provided once you are on board.

 8911 Balboa Avenue, Ste B — San Diego, CA 92123 — Phone: 858.308.1700 — Fax: 858.309.1701 

 Mitek Systems Inc. is an at-will employer and as such your employment must be entered into
voluntarily and for no specified period. As a result, you are free to resign or the company may terminate your employment at any time, for any reason, with or without cause. No one other than the Chief Executive Officer has the authority to alter
this employment relationship, either verbally or in writing. 
 The terms described in this letter shall be the terms of your employment,
provided, however, that your duties are performed in accordance with all standards and policies adopted by the Company. Your employment, pursuant to this offer, is contingent upon your executing the Company’s standard proprietary information
agreement and a confidential disclosure agreement, which will be provided to you on your first day of employment. 
 We are very excited
about the prospect of your joining our team. If the terms described herein are acceptable to you, please acknowledge your acceptance by signing below and returning a copy to me to rclark@miteksystems.com. If not accepted, this offer expires
at 5:00 P.M. PST on Friday, June 8, 2012. 
 Sincerely, 

MITEK SYSTEMS, INC. 
 /s/
James B.
DeBello                                       
                
 James B. DeBello 

President and Chief Executive Officer 

Accepted: 
 /s/ Michael
Diamond                                       
                
 Michael Diamond 

June 7, 2012EX-10.18

 Exhibit 10.18 
  

 
 June 11, 2012 
 Michael
Strange 
 Dear Michael: 
 On behalf of Mitek Systems, Inc.
(referred to herein as “Mitek” or the “Company”), I am pleased to confirm the offer of regular, full-time employment extended to you for the position of Chief Technology Officer, reporting to Jim DeBello, President &
Chief Executive Officer. Your hire date is expected to be on or about July 9 2012, and is subject to Mitek’s standard reference and background checks. Further details of this offer are as follows: 

 

			
	 Base Salary:
	  	 You will earn an annualized base salary of $260,000 paid bi-weekly in the amount of $10,000.

		
	 Incentives:
	  	 You will have the opportunity to earn an annual bonus up to $91,000 based upon meeting objectives to be determined within the first month of your
employment.

		
		  	 You have represented that the timing of your departure from your current employer will make you ineligible to receive a first half bonus of $25,000. Should
you not be paid this bonus by your current employer, we will pay you $25,000, less applicable withholding taxes, subsequent to our fiscal year ending September 30, 2012 in connection with our annual bonus process. In addition, Mitek will pay
the amount of your target bonus for the fiscal year ending September 30, 2012, prorated based on your date of hire. Should you voluntarily terminate your employment with Mitek prior to the first anniversary of your hire date with Mitek, you
agree to repay this bonus to the Company.

		
	 Stock Options:
	  	 We will request that the Board of Directors approves your participation in the Mitek 2012 Incentive Plan (“the Plan”) with a stock option grant of
175,000 shares of Mitek Common Stock and a restricted stock grant of 25,000 shares of Mitek Common Stock. The option grant will be subject to our normal vesting schedule as provided in the Plan. The price of your stock options will be based upon the
fair market value of Mitek Common Stock on the later of the date the Board approves your options or your hire date. You will be provided details of the Plan shortly after your options have been approved.

		
	 Severance and

Change in Control:
	  	 Any severance and accelerated vesting of stock options or other equity awards shall be pursuant to the terms and conditions of a change of control agreement
to be provided.

		
	 Benefits:
	  	 As a regular, full-time employee of Mitek you will be eligible for group benefits for yourself and your eligible dependents effective on the first day of
the month following your hire date. Basic benefits include a comprehensive health insurance plan; dental insurance and vision care insurance. In addition, you will be eligible for term life insurance and long-term disability insurance. You will also
accrue three weeks, equal to fifteen days, of paid vacation per year; seven paid sick days and ten paid holidays, in accordance with Company policy. In addition, you will be eligible to participate in the Mitek Systems Inc. 401(k) Savings Plan and
Mitek’s Flexible Spending Plan.

 8911 Balboa Avenue, Ste B — San Diego, CA 92123 — Phone: 858.308.1700 — Fax: 858.309.1701 

			
		
		  	 You will be asked to contribute a portion of the cost of your own insurance coverage and any dependent coverage you elect. The cost of coverage will vary
based upon the number of dependents covered and plan selection. Any premiums, you pay, however, will be paid pre-tax. Full details of employee benefits will be provided once you are on board.

		
	 Relocation:
	  	 We will reimburse you for reasonable qualified moving expenses incurred within fourteen months from your hired date related to moving to San Diego and will
provide San Diego lodging during that period of time.

 Mitek is an “at-will” employer and as such your employment must be entered into voluntarily and is
for no specified period. As a result, you are free to resign or Mitek may terminate your employment at any time, for any reason, with or without cause. No one has the authority to amend or modify this employment relationship, either verbally or in
writing, except the Chief Executive Officer and any amendment or modification hereto must be made in writing, signed by you and the Chief Executive Officer. 

The terms described in this letter shall be the terms of your employment, provided, however, that your duties are performed in accordance with
all standards and policies adopted by the Company. Your employment, pursuant to this offer, is contingent upon your executing the Company’s standard proprietary information agreement and a confidential disclosure agreement, which will be
provided to you on your first day of employment. 
 We are very excited about the prospect of your joining our team. Mitek is an exciting
company with what we believe is an excellent opportunity for growth and success. If the terms described herein are acceptable to you, please acknowledge your acceptance by signing below and returning a copy to me at jdebello@miteksystems.com. If not
accepted, this offer expires at 5:00 P.M. PST on June 13, 2012. 
 Sincerely, 

MITEK SYSTEMS, INC. 
 /s/
Russell C.
Clark                                       
                
 Russell C. Clark 

Chief Financial Officer 

Accepted: 
 /s/ Michael
Strange                                        
               
 Michael Strange 

June 15, 2012

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