Document:

EX-10.5

 Exhibit 10.5 

 

			
		  	

	 Pam Marrone
  
	  	June 29, 2006

 Dear Pam: 
 I am
pleased to offer you the position of President/CEO with Marrone Organic Innovations, Inc. (the “Company”). You will also be a member of the company’s Board of Directors. Your start date is June 29, 2006. 

You will initially receive a salary of $150,000.00 on an annualized basis. This salary will be payable once the Company closes its Seed financing round
(or closes at least $500,000 of bridge loan financing) or four months after the date of this letter, whichever is later and will be effective until the Company closes its Series A financing round. Upon closing of Series A financing, your salary will
increase to $170,000.00 per annum. You are also eligible for a bonus based on Company performance, if approved by the Board of Directors. 
 The
Company will defer your salary until the earlier of October 31, 2006, or the date that it secures Seed financing, whichever is later. The deferred salary amount shall be payable at the earlier of March 31, 2007 or the closing of a Series A
financing, without any accrual for interest. 
 In consideration of your agreement to defer salary, the Company will make a restricted stock
grant of 305,761 shares at the founder’s price of $0.025 per share (total value $7,644.03), issuable after you have provided two week’s services to the Company. Such restricted stock will be subject to repurchase by the Company at the
original $0.025 per share price for a period of four years from June 29, 2006, with the repurchase rights elapsing based on your continued employment by the Company, 25% on June 29, 2007, and pro rata each month in the remaining three
years. The restricted stock will represent wage income paid to you during 2006, and you would be subject to taxes on that amount even though you are not paid in cash. Such repurchase rights shall lapse upon a change in control of the Company, and
shall also lapse in the event of your termination of employment other than for cause. 
 Upon closing of Series A financing,
should the above mentioned restricted stock grant represent less than 5% of the fully dilutes shares of the Company, you will be granted one or more options to bring your ownership percentage back up to 5% of the Company. 

You have also purchased shares in the founders round relating to the formation of the Company, and those shares are subject to a one year repurchase by
the Company at the original $0.025 per share price for a period of one year from June 29, 2006. 
 You should be aware that your employment
with the Company is for no specified period and constitutes at-will employment. As a result, you are free to resign at any time, for any reason or for no reason. We prefer that due to the stature of your position, that if you resigned you provided
four weeks notice. Similarly, the Company is free to conclude its employment 
 215 Madson Place, Suites
B/C        —        Davis, CA 95618        —        530-750-2800 

 
relationship with you at any time, with or without cause. However, in the event that your employment is actually or constructively terminated by the Company without cause (whether or not
occurring in connection with a change of control of the Company) the Company will continue to pay for Salary, Life, Medical, Dental and Disability coverage for a period of twelve (12) months post termination. 

You will be eligible for the Company’s benefits programs at such time as they are established on the same terms as other executives of the Company,
which are expected to include: 
  

	 	•	 	 Medical and Dental Insurance for you. 

  

	 	•	 	 Cafeteria Plan (Section 125 Plan) which gives you the ability to set aside a portion of your paycheck on a pre-tax basis for dependent premiums as well
as set up a flexible spending account for child care and unreimbursed medical expenses. 

  

	 	•	 	 Transportation Incentive Program (Section 132 Plan). Gives you the ability to set aside a portion of your paycheck on a pre-tax basis to bay for
transportation expenses to work. 

  

	 	•	 	 Long-term disability insurance for you. $50,000.00 in Life Insurance for you with the option to increase the amount for you and dependents.

  

	 	•	 	 401(k) Plan participation. 

You will be entitled to four weeks of vacation per year to start. 
 All the benefit programs and plans are offered solely at the discretion of the Company and may be added to, deleted from, or modified at any time and for any reason. In addition to a timely response, this
offer is contingent upon successfully passing a background check, which may include work references, criminal, and education credential checks. For purposes of federal immigration laws, you are required to provide to the Company documentary evidence
of your identity and eligibility to work in the United States. Such documentation must be provided to us within three (3) business days of your date of hire or our contingent employment relationship with you will be terminated. 

To indicate your acceptance of the Company’s offer, please sign and date this letter in the space provided below and return it to Richard Dorf. A
duplicate original is enclosed for your records. This letter sets forth the terms of your employment with the Company and supersedes any prior representations or agreements, whether written or oral. This letter may not be modified or amended except
by a written agreement signed by the Company and by you. 

 I look forward to building MOI together with you. 
 Sincerely, 
  

	
	/s/ Richard C. Dorf
	Richard C. Dorf
	Chairman, Board of Directors

 I, Pam Marrone, accept the terms of this agreement. 

 

			
	Signature:	 	/s/ Pam Marrone

 Date Signed: June 29, 2006EX-10.6

 Exhibit 10.6 

 
 

 
 March 16, 2011 
 DONALD J. GLIDEWELL, CPA 
 Dear Don: 
 I am pleased to offer you the position of Chief Financial Officer, with Marrone Bio Innovations, Inc. (the “Company”), reporting to CEO, Pam Marrone. Your start date is April 8, 2011. Your first
six months on the job will be considered an introductory period. 
 You will receive a salary of $160,000.00 on an annualized basis. The Company
will also grant you an option to purchase 300,000 shares at a price to be determined by the Board of Directors. The option will vest over a period of four (4) years. One year from the date of grant of the shares, 25% of the total shares will be
vested. Such option will continue vest over the remaining 3 years on a pro rata basis equally each month over the period following the date of grant (2.083% per month over 36 months). You must be continually employed by the Company for the option to
continue to vest. 
 You will also be eligible for a second option grant on Dec 31, 2011 to purchase 100,000 shares, with a vesting period as
stated above. This grant is based on achieved milestones toward the company’s Finance, Operations (such as Manufacturing site procurement) goals as agreed upon by Pam Marrone and the Board. 

From time to time, the Board grants performance-based bonuses to senior management. The bonuses are either cash or an option to purchase company shares
or both. The amount and option price are determined by the Board. 
 You should be aware that your employment with the Company is for no
specified period and constitutes at-will employment. As a result, you are free to resign at any time, for any reason or for no reason. We prefer that due to the stature of your position, that if you resigned you would provide a four-week notice.
Similarly, the Company is free to conclude its employment relationship with you at any time, with or without cause. However, in the event that your employment is actually or constructively terminated by the Company without cause (whether or not
occurring in connection with a change of control of the Company) the Company will continue to pay for Salary, Life, Medical, Dental and Disability coverage for a period of six (6) months post termination. 

You will be eligible for the Company’s benefits programs. You become eligible for these benefits on the first day of the month following thirty
(30) days of full-time employment with the company: 
  

	 	•	 	 Medical and Dental Insurance for you. The Company will pay for 50% of your dependent premium for medical and dental insurance and you may pay the
remaining 50% on a pre-tax basis under the Company’s medical plan. 

	 	•	 	 Cafeteria Plan (Section 125 Plan) which gives you the ability to set aside a portion of your paycheck on a pre-tax basis for dependent premiums as well
as set up a flexible spending account for child care and unreimbursed medical expenses. 

  

	 	•	 	 Long-term Disability Insurance for you, and $50,000 in Life Insurance for you with the option to increase the amount for you and dependents.

  

	 	•	 	 401(k) Plan participation. Subject to board approval, you will receive a company match of $1 for $1 for the first 3% of your salary you contribute and
$0.5 for the next 2% of your salary (i.e. the maximum match is 4% if you contribute 5% of your salary). 

 You will be
entitled to three weeks of vacation per year to start, which you will start to accrue once you begin employment. 
 All the benefit programs and
plans are offered solely at the discretion of the Company and may be added to, deleted from, or modified at any time and for any reason. In addition to a timely response, this offer is contingent upon successfully passing a background check, which
may include work references, criminal, and education credential checks. For purposes of federal immigration laws, you are required to provide to the Company documentary evidence of your identity and eligibility to work in the United States. Such
documentation must be provided to us within three (3) business days of your date of hire or our contingent employment relationship with you will be terminated. You will also be required to take a drug test within 24 hours of notification by the
Company as a condition of employment. 
 To indicate your acceptance of the Company’s offer, please sign and date this letter in the space
provided below and return it to Pam Marrone This letter sets forth the terms of your employment with the Company and supersedes any prior representations or agreements, whether written or oral. This letter may not be modified or amended except by a
written agreement signed by the Company and by you. 
 I look forward to moving MBI to the next level with you as CFO. 

Sincerely, 
  

	
	/s/ Pam Marrone
	Pam Marrone
	President/CEO

 I, Donald J. Glidewell, accept the terms of this agreement. 

 

					
	Signature:	 	/s/ Donald J. Glidewell	 	3/24/2011

 2121 Second Street, Suite B-107         —         Davis, CA
95618        —        530-750-2800

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