Document:

Document

Exhibit 10.20

August 26, 2013

Sam Eaton

Dear Sam:

Offer of employment with Yelp Inc.

Further to our discussions, I confirm that we would like to offer you a new role with Yelp Inc., based in San Francisco, on the terms set out in the attached offer letter. Acceptance of the offer is subject to you confirming that your current employment with Yelp Ireland will cease by mutual agreement simultaneously with the commencement of your new employment with Yelp Inc.

Assuming that you wish to accept the role, please confirm that you agree to the terms of the proposed offer by signing, dating and returning: (1) the tri-partite Termination and Rehire Agreement annexed to this letter; and (2) the offer letter attached.

The offer letter is subject to and conditional on you agreeing to the Termination and Rehire Agreement. 

If you have any questions regarding the attached, please contact Carolyn Kenady.

Yours sincerely,

/s/ Michael Stoppelman
Michael Stoppelman

Vice President of Engineering

For and on behalf of Yelp Inc.

TERMINATION AND REHIRE AGREEMENT

This Agreement is between:

(1)Sam Eaton (the "Employee");

(2)Yelp Ireland Ltd a company registered in Ireland, under registration number 484943, with its registered office at 70 Sir John Rogerson’s Quay, Dublin 2, Ireland ("Yelp Ireland"); and

(3)Yelp Inc., a company incorporated in Delaware, United States ("Yelp Inc.")
 Whereas:
AThe Employee is currently employed by Yelp Ireland;

BYelp Inc., has offered a new position to the Employee subject to and conditional on the Employee's employment with Yelp Ireland terminating by mutual agreement; and

CThe Employee wishes to accept the offer of employment with Yelp Inc. 

The parties agree as follows:

1.With effect from September 1, 2013 (the "Commencement Date") the Employee's employment with Yelp Ireland will terminate by mutual consent. Yelp Ireland will continue to be responsible for all payments and the provision of all other benefits due to the Employee in connection with his employment up to the Commencement Date at which point the Employee's entitlement to salary and all benefits will cease.

2.With effect from the Commencement Date the Employee will commence employment with Yelp Inc. on the terms set out in the offer letter dated September 1, 2013.

3.The Employee agrees that no claims or liabilities arise, and no payments or benefits will become due or payable, as a result of or in connection with the termination of his employment with Yelp Ireland and any and all such claims or liabilities which may exist or arise are hereby settled and waived. Further, the Employee agrees that he has no outstanding claims or causes of action against Yelp Ireland in connection with his employment with Yelp Ireland and that any and all such claims which may exist are hereby settled and waived.

									
	/s/ Sam Eaton		Aug 27, 2013
	Sam Eaton “Employee”		Date
			
	/s/ Laurence Wilson		Aug 27, 2013
	Laurence Wilson		Date
	for and on behalf of		
	Yelp Ireland Ltd		
			
	/s/ Michael Stoppelman		Aug 27, 2013
	Michael Stoppelman		Date
	for and on behalf of		
	Yelp Inc.		

August 26, 2013

Sam Eaton

Re: Offer Letter

Dear Sam Eaton,

Congratulations! We're happy to offer you this position in our San Francisco office as Director of Engineering Operations with Yelp Inc. Here are the elements of this offer.

1.Basics

Your employment with Yelp Inc. ("Yelp") will start on September 1, 2013. You will continue to report to Michael Stoppelman on our Engineering team. You will work primarily in San Francisco, CA, though you may also be required to work at other Yelp offices and locations from time to time. As an exempt salaried employee, you will be expected to work the hours, including evenings and weekends, required to perform your job duties. Your employment with Yelp is conditioned on your ability to maintain your status to work legally in the United States.

2.Compensation

The annualized salary for this position is $220,000, less required and designated payroll deductions and withholdings, payable pursuant to our regular payroll policy. We currently make payments twice a month.

We may change your compensation and benefits from time to time in our sole discretion

3.Stock Options

Your new hire stock option award as a new employee of Yelp Ireland will continue to vest pursuant to the vesting schedule set forth in the equity award grant notice and agreement.

4.Relocation Bonus

We are pleased to offer you a $10,000 relocation bonus when you relocate to San Francisco. The bonus will be paid to you once your relocation to San Francisco is complete, and will be subject to Yelp Inc's standard payroll and tax practices. In the event that your employment with Yelp terminates for any reason before the completion of twelve (12) full months from the date the relocation bonus is paid to you, you are required to refund a pro-rata share of this relocation bonus.

5.Benefits

We're happy to make our standard benefits package available to you, including health, dental, vision, term life insurance, long-term disability, and 401K plans. You're also eligible for fifteen (15) days of paid time off per year, prorated for the remainder of the calendar year. Please feel free to ask HR for more details on benefits.

6.Dispute Resolution and Other Policies

Like every company, we have our share of do's and don'ts, and other company policies. Your continued employment at Yelp will be conditioned on your complying with these policies. In particular, you will need to comply with our Employee Handbook, which sets forth a range of important policies. Please note the dispute resolution policy in particular, which calls for disputes between you and Yelp to be adjudicated through binding arbitration rather than the courts. You may opt-out of this policy, as described therein. We will make the Employee Handbook available to you on our intranet site when you start. Please read it carefully. Your continued employment at Yelp Inc. will constitute your acknowledgement and acceptance of these policies.

7.At-Will Employment

Your position with Yelp is "at-will," meaning that both you and Yelp may terminate your employment at any time, for any reason, and without notice. This letter contains the entire agreement between you and Yelp regarding the right and ability of either you or Yelp to terminate your employment. In addition, please note that we may change your position, duties, compensation, benefits, and work location from time to time in our sole discretion.

8.Miscellaneous

By signing below, you represent that taking and performing the position Yelp is offering you will not violate the terms of any agreements you may have with others, including any former employers. You also understand that in your work for Yelp, you will be prohibited from using or disclosing any confidential, proprietary or trade secret information of any former employer or other person to whom you have an obligation of confidentiality. Rather, you will be required to use only information that is generally known and used by persons with training and experience comparable to your own, is common knowledge in the industry or otherwise legally in the public domain, or is otherwise provided or developed by Yelp. You agree that you will not bring into the office - or use in your work for Yelp - any unpublished documents or property belonging to any former employer or third party that you are not authorized to use for that purpose or disclose. You also represent that you have disclosed to Yelp any contract you have signed that might restrict your activities on behalf of Yelp.

9.Conclusion

This letter, together with the Confidentiality and Invention Assignment Agreement and Yelp's Code of Conduct, will form the complete and exclusive statement of your employment agreement with Yelp ("Employment Agreement"). The Employment Agreement supersedes any other agreements, promises or representations made to you by anyone, whether oral or written, regarding the subject matter of the Employment Agreement. The Employment Agreement cannot be changed except in a written agreement signed by you and a duly authorized officer of Yelp.

We are committed to hiring employees like you that have the courage, creativity, and experience to develop new ideas for new markets. We look forward to you joining us! Please sign the bottom of this letter and return it to accept this offer.

Sincerely,

/s/ Michael Stoppelman

Michael Stoppelman
Yelp Inc.

/s/ Sam Eaton    Aug 27, 2013

Employee Acceptance/Signature    Dateexhibit1092022directorti

EXHIBIT 10.9  76    2022 DIRECTOR TIME-BASED RESTRICTED STOCK UNIT AGREEMENT  Company: Simpson Manufacturing Co., Inc.     Recipient: The recipient’s name (the “Recipient”) is set forth on the  Recipient’s online award acceptance page on Fidelity Stock  Plan Services LLC website (the “Acceptance Page”) at  https://www.netbenefits.com, which is incorporated by  reference to this Agreement.     The Number of Shares of  Common Stock Subject to RSUs  Granted Hereunder  (the “RSU Shares”):  The aggregate number of shares of Common Stock as stated  on the Acceptance Page.     The Effective Date of the Award  (the “Award Date”):  A date in 2022 as determined by the Committee in its absolute  discretion and as set forth on the Acceptance Page.     Vesting Schedule  (the “Vesting Schedule”):  100% of the RSU Shares will vest on the Award Date.       This TIME-BASED RESTRICTED STOCK UNIT AGREEMENT (this “Agreement”) is made as of the  Award Date stated on the Acceptance Page by and between Simpson Manufacturing Co., Inc., a Delaware  corporation (the “Company”), and the Recipient named on the Acceptance Page, with reference to the following  facts:  Capitalized terms used and not otherwise defined in this Agreement have the meanings ascribed to such  terms in the amended and restated Simpson Manufacturing Co., Inc. 2011 Incentive Plan effective on April 21, 2015  (as amended from time to time, the “Plan”).  The Board has delegated to the Committee all authority to administer  the Plan.  The Committee has determined to grant to the Recipient, under the Plan, time-based Restricted Stock  Units (the “RSUs”) with respect to the RSU Shares stated on the Acceptance Page.  To evidence the RSUs and to set forth the terms and conditions thereof, the Company and the Recipient  agree as follows:  1. Confirmation of Grant.  (a) The Company grants the RSUs to the Recipient and the Recipient agrees to accept the  RSUs and participate in the Plan, effective as of the Award Date.  As a condition of the grant, this Agreement and  the RSUs shall be governed by the terms and conditions of the Plan and shall be subject to all applicable policies and  guidelines of the Company, including the Company’s compensation recovery policy, stock ownership, and hedging,  pledging and trading policies.  (b) The RSUs shall be reflected in a bookkeeping account maintained by the Company  through the date on which the RSUs become fully vested pursuant to section 2 or are forfeited pursuant to section 3.   If and when the RSUs become fully vested pursuant to section 2, and on the satisfaction of all other conditions  applicable to the RSUs, the RSUs not forfeited pursuant to section 3 shall be settled in the number of shares of  Common Stock as provided in section 1(d) and otherwise in accordance with the Plan.  (c) The Company’s obligations under this Agreement shall be unfunded and unsecured.  No  special or separate fund shall be established therefor and no other segregation of assets shall be required or made  with respect thereto.  The rights of the Recipient under this Agreement shall be no greater than those of a general  unsecured creditor of the Company.  

 

EXHIBIT 10.9  77    (d) Except as otherwise provided in this Agreement and the Plan, the RSUs shall be settled  by the issuance and delivery of the RSU Shares, or as provided in this Section 1(d), by cash or a combination thereof  (as determined by the Committee in its sole discretion), within sixty days after the RSUs have vested pursuant to  section 2 subject to satisfaction of any other terms and conditions applicable to the RSUs; provided, however, that,  the number of the RSU Shares issued or delivered (or for which a cash payment is made) to the Recipient in any  calendar year, together with the number of shares of Common Stock issued or delivered (or for which a cash  payment is made) to the Recipient in the same calendar year under any other RSU Awards, shall not exceed the  annual maximum aggregate number of shares of Common Stock issuable or deliverable under RSU Awards as set  forth in the Plan that is effective at the time of the issuance or delivery of (or making a cash payment for) the RSUs.   In settling the RSUs pursuant to the foregoing, the Company (or its acquirer or successor) shall have the option (as  determined by the Committee in its sole discretion) to make or provide for a cash payment to the Recipient, in  exchange for the cancellation of the vested RSUs (or any portion thereof), in an amount equal to the product of (A)  the number of the RSU Shares under the cancelled RSUs and (B) the average closing price of a share of Common  Stock over the period ending on the date the RSUs (or the portion thereof) become vested and starting sixty days  prior to that date.  Anything herein to the contrary notwithstanding, this Agreement does not create an obligation on  the part of the Company to adopt any policy or procedure, agree to any amendment hereto, make any arrangement,  or take any other action, to comply with Code section 409A.  The Recipient agrees and acknowledges that the  Company makes no representations that this Agreement, including the grant, vesting and/or delivery of the RSU  Shares (and/or cash), does not violate Code section 409A, and the Company shall have no liability whatsoever to the  Recipient if he or she is subject to any taxes or penalties under Code section 409A.  2. Vesting.  Subject to the terms and conditions of this Agreement and the Plan and unless otherwise  forfeited pursuant to section 3, the RSUs shall vest (that is, the Restricted Period with respect thereto shall  terminate) pursuant to the Vesting Schedule.  The Recipient explicitly acknowledges and agrees that the granting or  vesting of the RSUs as well as the Recipient’s holding of the RSU Shares shall be subject to all applicable policies  and guidelines of the Company, including the Company’s compensation recovery, stock ownership, and hedging,  pledging and trading policies.    3. Forfeiture.  Anything herein to the contrary notwithstanding, (a) all RSUs that are not vested in  accordance with section 2 shall terminate immediately and be forfeited in their entirety if, and at such time as, the  Recipient ceases to be an Outside Director,1 and (b) all RSUs, to the extent not theretofore settled in accordance with  section 1(d), shall terminate immediately and be forfeited in their entirety when and as provided in section 13(I) of  the Plan.    4. Tax Withholding.  Pursuant to section 10 of the Plan, the Company may require the Recipient to  enter into an arrangement providing for the payment in cash, Common Stock or otherwise by the Recipient to the  Company of any tax withholding obligation of the Company arising by reason of (a) the granting or vesting of the  RSUs, (b) the lapse of any substantial risk of forfeiture to which the RSUs or the RSU Shares are subject, or (c) the  disposition of the RSUs or the RSU Shares, to the extent such arrangement does not cause a loss of the Section 16(b)  exemption pursuant to Rule 16b-3 promulgated under the Securities Exchange Act of 1934, as amended.    5. Representations and Warranties of the Company.  The Company represents and warrants to the  Recipient that the RSU Shares, when issued and delivered on the vesting of the RSUs in accordance with this  Agreement, will be duly authorized, validly issued, fully paid and non-assessable.    6. Recipient Representations.  The Recipient represents and warrants to the Company that the  Recipient has received and read this Agreement and the Plan, that the Recipient has consulted with the Recipient’s  own legal, financial and other advisers regarding this Agreement and the Plan to the extent that the Recipient  considered necessary or appropriate, that the Recipient fully understands and accepts all of the terms and conditions                                                    1 For example, pursuant to section 3, before the Award Date, (I) if the Recipient’s engagement with the Company as an Outside  Director is terminated by the Company or by the Recipient for any reason or for no reason, or (II) if the Recipient retires, dies or  becomes Disabled, the RSUs shall be forfeited in their entirety and no distribution or payment of any amount under such RSUs  shall ever be made to the Recipient.    

 

EXHIBIT 10.9  78    of this Agreement and the Plan, and that the Recipient is relying solely on the Recipient’s own advisers with respect  to the tax consequences of this Agreement and the RSUs.    7. Change in Control.  On a Change in Control, the RSUs shall be subject to the applicable  provisions of section 9 of the Plan, as the Committee may determine.  8. Adjustments to Reflect Capital Changes.  Subject to and except as otherwise provided in section 9  of the Plan, the number and kind of shares subject to the RSUs shall be appropriately adjusted, as the Committee  may determine pursuant to section 11 of the Plan, to reflect any stock split, stock dividend, recapitalization, merger,  consolidation, reorganization, combination, exchange of shares, split-up, split-off, spin-off, liquidation or other  similar change in capitalization, or any distribution to common stockholders other than normal cash dividends.  9. No Rights as Stockholder.  Neither the granting or vesting of the RSUs nor the issuance or  delivery of the RSU Shares shall entitle the Recipient, as such, or any of the Recipient’s Beneficiaries or Personal  Representative, to any rights of a stockholder of the Company, unless and until the RSU Shares are registered on the  Company’s records in the name or names of the Recipient or the Recipient’s Beneficiaries or Personal  Representative, as the case may be, and then only with respect to such RSU Shares so registered.    10. No Right to Continued Employment.  Nothing in this Agreement shall confer on the Recipient any  right to continue in the engagement with, or service to, the Company or any Subsidiary or limit, interfere with or  otherwise affect in any way the right of the Company or any Subsidiary to terminate the Recipient’s engagement or  service at any time.  11. Regulatory Compliance.  Notwithstanding anything herein to the contrary, the issuance and  delivery of the RSU Shares shall in all events be subject to and governed by section 13(C) of the Plan.  12. Notices.  Any notice, consent, demand or other communication to be given under or in connection  with this Agreement shall be in writing and shall be deemed duly given and received when delivered personally,  when transmitted by facsimile, one business day after being deposited for next-day delivery with a nationally  recognized overnight delivery service, or three days after being mailed by first class mail, charges or postage  prepaid, properly addressed, if to the Company, at its principal office in California, and, if to the Recipient, at the  Recipient’s address on the Company’s records.  Either party may change such party’s address or facsimile number  from time to time by notice hereunder to the other.  13. Entire Agreement.  This Agreement and the Plan together contain the entire agreement of the  parties and supersede all prior or contemporaneous negotiations, correspondence, understandings and agreements,  whether written or oral, between the parties, regarding the RSUs.  The Recipient specifically acknowledges and  agrees that all descriptions of the RSUs in any prior letters, memoranda or other documents provided to him or her  by the Company or any Subsidiary are hereby replaced and superseded in their entirety by this Agreement and shall  be of no further force or effect.  To the extent there is any inconsistency between the descriptions of any such  documents and the terms of this Agreement, the terms of this Agreement shall prevail.  14. Amendment.  This Agreement may be amended, modified or supplemented only by a written  instrument signed by the Recipient and the Company.  15. Assignment.  The Recipient shall not sell, assign, transfer, pledge, hypothecate or otherwise  encumber or dispose of this Agreement, any of the RSUs or any other rights hereunder, and shall not delegate any  duties hereunder, except only as may be permitted pursuant to section 13(B) of the Plan, and any such action or  transaction that may otherwise be attempted or purported by the Recipient shall be void and of no effect.  16. Successors.  Subject to section 15, this Agreement shall bind and inure to the benefit of the  Company and the Recipient and their respective successors, assigns, heirs, legatees, devisees, executors,  administrators and legal representatives.  Nothing in this Agreement, express or implied, is intended to confer on  any other Person any right or benefit in or under this Agreement or the Plan.  

 

EXHIBIT 10.9  79    17. Separate Payments.  All amounts payable in connection with the RSUs hereunder or any other  Awards granted under the Plan shall be treated as separate payments for the purposes of Code section 409A.  18. Governing Law.  This Agreement shall be governed by and construed and interpreted in  accordance with the laws of the State of Delaware.  19. Counterparts.  This Agreement may be executed in any number of counterparts, each of which  shall be deemed an original but all of which together shall constitute one and the same instrument.  20. Order of Precedence and Construction.    This Agreement, the RSUs and the RSU Shares are  subject to all provisions of the Plan (a copy of which is attached hereto as Exhibit A), including the Restricted Stock  Unit provisions of section 6 thereof, and are further subject to all interpretations and amendments thereto that may  from time to time be adopted pursuant to the Plan.  In the event of any inconsistency between any provision of this  Agreement and any provision of the Plan, the provision of the Plan shall govern.  The headings of sections herein  are for convenience of reference only, are not part of this Agreement and shall not affect the construction or  interpretation of any provision hereof.  Whenever the context requires, the use in this Agreement of the singular  number shall be deemed to include the plural and vice versa, and each gender shall be deemed to include each other  gender.  References herein to sections refer to sections of this Agreement, except as otherwise stated.  The meaning  of general words is not limited by specific examples introduced by “includes”, “including”, “for example”, “such as”  or similar expressions, which shall be deemed to be followed by the phrase “without limitation”.  21. Further Assurances.  The Recipient agrees to do and perform all acts and execute and deliver all  additional documents, instruments and agreements as the Company or the Committee may reasonably request in  connection with this Agreement.  22. Data Privacy.  Recipient hereby explicitly and unambiguously consents to the collection, use and  transfer, in electronic or other form, of Recipient’s personal data as described in this Agreement by and among, as  applicable, Recipient’s employer, the Company, and any Subsidiary for the exclusive purposes of implementing,  administering, and managing Recipient’s participation in the Plan.  Recipient understands that the Company and the  employing Subsidiary may hold certain personal information about Recipient, including, but not limited to,  Recipient’s name, home address and telephone number, date of birth, social insurance number or other identification  number, salary, nationality, job title, and any shares of stock or directorships held in the Company or any Subsidiary,  details of all RSUs or any other entitlement to shares of stock awarded, canceled, exercised, vested, unvested or  outstanding in Recipient’s favor (“Personal Data”).  Recipient understands that Personal Data may be transferred to  any third parties assisting in the implementation, administration and management of the Plan, that these entities may  be located in Recipient’s country, or elsewhere, and that the third parties’ country may have different data privacy  laws and protections than Recipient’s country.  Recipient understands that he or she may request a list with the  names and addresses of any potential third parties in receipt of the Personal Data by contacting the Company’s  Equity Plans Administrator.  Recipient authorizes the third parties to receive, possess, use, retain and transfer the  Personal Data, in electronic or other form, for the purposes of implementing, administering and managing  Recipient’s participation in the Plan, including any requisite transfer of such Personal Data as may be required to a  broker or other third party with whom Recipient may elect to deposit any RSU Shares received upon vest of the  RSUs.  Recipient understands that Personal Data will be held as long as is necessary to administer and manage  Recipient’s participation in the Plan.  Recipient understands that he or she may, at any time, view Personal Data,  request additional information about the storage and processing of Personal Data, require any necessary amendments  to Personal Data or refuse or withdraw the consents herein, without cost, by contacting in writing the Company’s  Equity Plans Administrator.  Recipient understands that refusal or withdrawal of consent may affect Recipient’s  ability to realize benefits from the RSUs.  For more information on the consequences of Recipient’s refusal to  consent or withdrawal of consent, Recipient understands that he or she may contact the Company’s Equity Plans  Administrator.  23. Electronic Delivery.  The Company may, in its sole discretion, decide (a) to deliver or effect by  electronic means any documents or communications related to the RSUs granted under the Plan, Recipient’s  participation in the Plan, or future Awards that may be granted under the Plan or (b) to request by electronic means  Recipient’s consent to participate in the Plan and other communications related to the RSUs or the Plan.  Recipient  hereby consents to receive such documents and communications by electronic delivery and, if requested, to agree to  

 

EXHIBIT 10.9  80    participate in the Plan and deliver or effect such other communications through an on-line or electronic system  established and maintained by the Company or any third party designated by the Company.     [Signature Page Follows]  

 

EXHIBIT 10.9  81    IN WITNESS WHEREOF, this Restricted Stock Unit Agreement has been duly executed by or on behalf  of the Company and the Recipient as of the Award Date.  COMPANY:    SIMPSON MANUFACTURING CO., INC.      By ___________________________________   Authorized Signatory for the Compensation   and Leadership Development Committee   of the Board of Directors      ACCEPTANCE OF AGREEMENT:  Through the electronic submission of his or her consent to this Restricted  Stock Unit Agreement in accordance with the instructions on Fidelity Stock Plan Services’ NetBenefits website, the  Recipient hereby confirms, ratifies, approves and accepts all of the terms and conditions of this Restricted Stock  Unit Agreement.

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