Document:

Document

Anna Brunelle
[***]
September 16, 2020
Re:    Amendment of Offer Letter 
Dear Anna, 
As you know, you entered into an offer letter agreement with Ouster, Inc. (the “Company”) dated as of August 26, 2020 (the “Offer Letter”).  The purpose of this letter (the “Letter Amendment”) is to amend the Offer Letter to modify your Merit Bonus Program and revise the definition of Good Reason. 
Accordingly, upon the execution of this Letter Amendment by you and the Company, the Offer Letter will be amended as follows: 
1.The “Merit Bonus Program” section of the Offer Letter is hereby deleted in its entirety and replaced with the following: “Merit Bonus Program. In addition to the above compensation, you will also be eligible to earn a merit bonus of $150,000.00, in the event that, on or before June 31, 2021, the Company closes either: (a) an equity financing, or series of equity financings, that results in gross proceeds to the Company of not less than $50,000,000.00; or (b) a Change of Control (as defined in the Plan) (the “Initial Merit Bonus”). For the avoidance of doubt, you will only be entitled to earn the Initial Merit Bonus once. Starting on January 1, 2021, you will also be eligible to receive annual merit bonuses targeted to 31.25% of your current annual base salary (each an “Annual Merit Bonus” and collectively with the Initial Merit Bonus, “Merit Bonuses”). Annual Merit Bonuses are awarded based on the quality of your performance in the previous calendar year, in accordance with performance criteria approved by the Company’s Board of Directors and are subject to adjustment by the Company’s Board of Directors. The Company will use reasonable efforts to pay any Merit Bonuses earned by you within thirty (30) days following the date on which the Merit Bonus is earned, but in no event will any Merit Bonus earned by you be paid later than March 15 of the calendar year following the year in which the Merit Bonus is earned.” 
2.The definition of “Good Reason” included in the Offer Letter is hereby amended as follows: 
i.In romanette (ii) “(including the person or persons to whom you report)” is deleted in its entirety and replaced with “(including reporting to any Company official other than the Chief Executive Officer)”; and 
ii.In clause (c), “(60)” will be deleted in its entirety and replaced with “(30)”. 
As of the date of the last signature below, the terms and conditions set forth in this Letter Amendment shall be deemed a part of, and to have amended, the Offer Letter for all purposes. This Letter Amendment may be executed in several counterparts, all of which taken together shall constitute one single agreement between the parties. In the event of a conflict or 
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inconsistency between the terms and conditions set forth in this Letter Amendment and those set forth in the Offer Letter, the terms and conditions of this Letter Amendment shall control. Except as amended and supplemented hereby, all of the terms and conditions of the Offer Letter shall remain and continue in full force and effect and apply hereto. The parties acknowledge that this Letter Amendment and all the terms and conditions contained herein have been fully reviewed and negotiated by the parties. Having acknowledged the foregoing, the parties agree that any principle of construction or rule of law that provides that, in the event of any inconsistency or ambiguity, an agreement shall be construed against the drafter of the agreement shall have no application to the terms and conditions of this Letter Amendment. This Letter Amendment, when read in conjunction with the Offer Letter (including, without limitation, all exhibits, attachments, and schedules thereto) constitutes the entire agreement between the parties with respect to the subject matter of this Letter Amendment and pursuant to the terms of this Letter Amendment supersedes all prior agreements, whether written or oral, with respect to the subject matter of this Letter Amendment. 
[Signature Page to Follow]
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IN WITNESS WHEREOF, this Letter Amendment is agreed to and accepted as of the date of the last signature below: 

Ouster, Inc. 

Signature: /s/ Angus Pacala    
Name: Angus Pacala    
Title: CEO    

Anna Brunelle 

Signature: /s/ Anna Brunelle    
Name: Anna Brunelle    
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Ouster, Inc.
July 25, 2017
Darien Spencer 
[***]
By email
Dear Darien Spencer:
Ouster, Inc., (the “Company”), is pleased to offer you employment with the Company on the terms described below.
1.Position. You will start in a full-time position as Vice President of Operations and you will initially report to the Company’s Chief Executive Officer. By signing this letter, you confirm with the Company that you are under no contractual or other legal obligations that would prohibit you from performing your duties with the Company.
2.Base Salary. You will be paid a starting salary at the rate of $120,000 per year, which will be paid in accordance with the Company’s standard payroll policies and subject to applicable withholdings and other required deductions. The salary will increase to $265,000 upon closing a Series A financing round of greater than or equal to $10 million.
3.Equity. The Company’s Board of Directors (the “Board”) will grant you an early exercisable option to purchase 135,000 shares of the Company’s Common Stock as of the date hereof (the “Equity”). 12/48ths of the Equity will vest on the 1 year anniversary of your start with the Company and l/48th of the Equity will vest on each monthly anniversary thereafter, subject to your continuous service with the Company through each vesting date; upon a change of control or sale of the Company, in the event that you are terminated without cause in connection with such change of control or sale of the Company 100% of the then-unvested Equity will vest immediately. The purchase or exercise price per share of the Equity will be equal to the fair market value per share of the Company’s Common Stock on the date the Equity is granted, as determined by the Board in good faith. There is no guarantee that the Internal Revenue Service will agree with this value. You should consult with your own tax advisor concerning the tax consequences associated with accepting the Equity. The Equity will be subject to the terms and conditions set forth in the Company’s equity incentive plan (the “Plan”) and the Company’s standard forms of agreements under the Plan. The Company reserves the right to award the Equity as a stock option or as a stock purchase right.
4.Employee Benefits. As a regular employee of the Company, you will be eligible to participate in the employee benefit plans, if any, currently and hereafter maintained by the Company and generally available to similarly situated employees of the Company, subject in each case to the terms and conditions of the plan in question, including any eligibility requirements set forth therein, and the determination of any person or committee administering the plan. You should note that the Company may modify job titles and salaries and modify or terminate benefits from time to time as it deems necessary or appropriate.
5.Confidential Information and Invention Assignment Agreement. Like all Company employees, you will be required, as a condition of your employment with the Company, to sign the Company’s enclosed standard Confidential Information and Invention Assignment Agreement.
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OHSUSA: 758936721.1
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6.Employment Relationship. Employment with the Company is for no specific period of time. Your employment with the Company will be “at will,” meaning that either you or the Company may terminate your employment at any time and for any reason, with or without cause or notice. Any contrary representations which may have been made to you are superseded by this offer. This is the full and complete agreement between you and the Company on this term. Although your job duties, title, compensation and benefits, as well as the Company’s personnel policies and procedures, may change from time to time, the “at will” nature of your employment may only be changed in an express written agreement signed by you and the Company’s Chief Executive Officer.
7.Outside Activities. While you render services to the Company, you agree that you will not engage in any other employment, consulting or other business activity without the written consent of the Company. In addition, while you render services to the Company, you will not assist any person or entity in competing with the Company, in preparing to compete with the Company or in hiring any employees or consultants of the Company.
8.Withholding and Required Deductions. All forms of compensation referred to in this letter are subject to all withholding and any other deductions required by applicable law.
9.Entire Agreement and Governing Law. This letter supersedes and replaces any prior or contemporaneous understandings or agreements, whether oral, written or implied between you and the Company regarding the matters described in this letter. This letter will be interpreted in accordance with the laws of the State of California without giving effect to provisions governing the choice of law.
10.Counterparts. This letter may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Execution of a facsimile or scanned image will have the same force and effect as execution of an original, and a facsimile signature or scanned image will be deemed an original and valid signature.
[Signature Page Follows]
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OHSUSA: 758936721.1
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If you wish to accept this offer, please sign and date the enclosed duplicate original of this letter and the enclosed Confidential Information and Invention Assignment Agreement and return them to me. As required by law, your employment with the Company is also contingent upon your providing legal proof of your identity and authorization to work in the United States. In addition, the Company reserves the right to conduct background investigations and/or reference checks on all of its potential employees. Your job offer, therefore, is contingent upon a clearance of such a background investigation and/or reference check, if any. This offer, if not accepted, will expire at the close of business on July 27, 2017.
We look forward to your favorable reply and to working with you at Ouster.
Very truly yours, 
OUSTER, INC.
/s/ Angus Pacala    
Angus Pacala, Chief Executive Officer
ACCEPTED AND AGREED:
/s/ Darien Spencer    
(Signature)
07/26/17    
Date 
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OHSUSA: 758936721.1
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