Document:

extr-ex103_430.htm

145 Rio Robles  /  San Jose, CA 95134  /  +1-408-579-2800  /  www.extremenetworks.com

                                                                                                                                                        Exhibit 10.3

 

 

August 4, 2015

 

Dear Bob,

Thank you for your commitment to Extreme and your dedication over the past year in particular. You are a critical part of the team we are building to take this company forward.  I am pleased to confirm the following compensation information for you:

FY16 Stock Grant: 80,000 Time Based RSUs and 80,000 Performance Stock Units (PSUs)

 

	
 
	
•
	
80,000 RSUs will vest annually in three (3) equal annual increments over three (3) years.

	
 
	
•
	
You are also eligible for an additional 80,000 PSUs subject to Extreme’s achievement of a stock price of $3.50 and meeting or exceeding that price for 30 consecutive trading days at any point during period of 8/15/2015 to 2/15/2017.

	
 
	
•
	
If/when the price hurdle is achieved (prior to 2/15/17), 1/3 of the awards will vest immediately; 1/3 will vest on 8/15/17; the final 1/3 will vest on 8/15/18.

	
 
	
•
	
All vesting and rights to exercise any Restricted Stock offered hereunder will also be subject to your continued employment with the Company at the time of vesting.  Your Restricted Stock grant is further conditioned on your execution of the Company’s standard form of employee restricted stock agreement, and will be governed by and subject to the terms of that agreement.

 

FY16 Extreme Bonus Plan:

Effective July 1, 2015, you will be eligible to participate in the Extreme Bonus Plan with an annual target of 100% of your base salary compensation (currently, $345,000).  With your participation in the Extreme Bonus Plan and also Effective July 1 2015, you will no longer participate in and/or be eligible for the Company’s sales compensation plan.

 

All other terms and conditions of your employment will remain in full force and effect.

 

I look forward to your on-going contributions and leadership. Together, I believe we can MAKE IT HAPPEN. 

Sincerely,

/S/   Ed Meyercord

 

Ed Meyercord

CEO

 

EM/lh

 

Cc:  Human ResourcesExhibit 4.1

 

RichUncles
Real Estate Investment Trust I

 Subscription
Agreement

 

All capitalized terms herein have the definitions
ascribed to them in the Prospectus 

	 	 
	INVESTMENT	 Make check payable to “NEXREGEN REAL ESTATE INVESTMENT TRUST I”
	 	 
	 	Number of Shares: ________  X  $10/Share (500 Share minimum) =  $_____________
	 	 
	 	Initial Purchase   _________            Add On    _________
	1	 

 

	TYPE OF OWNERSHIP	1. _____  Individual	4. _____  Partnership	8. _____  IRA
	Check only one	*2. _____  Joint Tenants with	5. _____  LLC	9. _____  Roth IRA
	 	right of Survivorship	6. _____  Trust	10. _____ SEP/IRA
	 	3. _____   Corporation	7. _____  Pension Plan	11. _____  KEOGH Plan
	 	 	 	 
	2	*Two signatures required                                                                  (provide Custodian information)

 

	
        REGISTRATION and DISTRIBUTIONS 

        Please print name(s) in which Shares are to be
registered and address for Distributions
	(1)	 	Age	 
	 
	 
	(2)	 	Age	 
	  

	 
	 Address
	 
	 	 
		City                                                             State         Zip
	 	 
	3	Email Address:	 	Phone	
(         )
	 	 

	 	 	 	 	 
	
        REGISTERED OWNER’S 

        Social Security or Tax I.D. Number
	 	 	 
	 	 	 
	(1)	 	(2)	 
	4	 	 	 

 

	
        RESIDENCE ADDRESS 

        Investors must complete if different from section 3
above.
	Investors	 
	 	 
	Address:	 
	 	 
	 
		                          City                                             State                              Zip
	5	 	 

 

By placing your
Initials in all of the spaces provided below, each of the undersigned purchasers hereby represents, warrants, covenants and agrees:

 

INITIALS

 

_______ A. California Resident.
I am a resident of the State of California. I understand that for purposes of determining if I qualify as a California resident,
my residence will be determined as follows: (i) an individual’s principal residence must be in California, (ii) corporations,
partnerships, LLC’s, trusts or other forms of business organizations must have a principal office in California, and (iii)
for corporations, partnerships, LLC’s, trusts, or other forms of business organizations which were organized for the specific
purpose of acquiring Shares, all of the beneficial owners of the entity must be residents of the State of California.

 

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_______ B. Financial Suitability Standards.
I have (i) an annual gross income of at least $75,000 and a net worth of at least $75,000; and/or (ii) a net worth of at least
$250,000. This investment will be less than 10% of my net worth. (Net worth in all cases should be calculated excluding the value
of your home, furnishings and automobiles. In the case of sales to fiduciary accounts, these suitability
standards must be met by the fiduciary account, or by the person who directly or indirectly supplied the funds for the purchase
of the Shares if such person is the fiduciary.)

 

_______ C. The Prospectus. I have
read the Prospectus for this Offering. I acknowledge that the Shares are being offered pursuant to the terms and in the manner
described in the Prospectus.

 

_______ D. Acceptance of Subscription.
I understand that the company may accept or reject my Subscription in whole or in part, and no sale of any Shares will be deemed
to have occurred until the company has accepted my Subscription. I understand and agree that Subscriptions need not be accepted
in the order received. Should this Subscription be rejected, this Subscription shall be rendered void and of no further force and
effect and the company will return the subscription price paid by me, without interest, within two (2) business days.

 

                 E.Additional Representations
and Warranties. I hereby represent and warrant as follows:

 

_______
(i)I have such knowledge and experience in financial and business matters that I am capable of evaluating the merits and risks
of an investment in the Shares (including but not limited to the risk that I may lose my entire investment) and the suitability
of the Shares as an investment for me.

 

_______
(ii)I am acquiring the Shares for my own account for investment and not with the view toward resale or redistribution, and
I do not presently have any reason to anticipate any change in my circumstances or other particular occasion or event which would
create a need for me to sell the Shares. Unless I have indicated otherwise, no other person has any beneficial interest in the
Shares.

 

_______
(iii)I understand that this investment should be regarded as generally illiquid and that I may have difficulty in selling my
Shares since they are not traded on a securities exchange or other organized market. The company does have a share repurchase program
(described in the prospectus) and some brokerage services offer to buy shares of non-publicly traded REITS, usually at a discount.
In addition, the transfer of Shares is otherwise subject to certain restrictions.

 

_______
(iv)I have received, carefully read, and understand the Prospectus, including the exhibits attached thereto and any amendments
thereof and including those sections describing tax consequences.

 

_______
(v)I understand the background and qualifications of the company’s sponsor and advisor.

 

_______ F.Indemnification. I
understand the meaning and legal consequences of the representations and warranties made in this Subscription Agreement and hereby
agree to indemnify and hold harmless the company, and its sponsors and general partner, from and against any and all loss, damage
or liability due to or arising out of a breach of any such representation or warranty.

 

_______ G.Taxpayer Information.
The investor signing below, under penalties of perjury, certifies that (i) the number shown above is my correct taxpayer identification
number, (ii) I am not subject to backup withholding because I am exempt from back up withholding, (iii) I have not been notified
by the Internal Revenue Service that I am subject to backup withholding, and (iv) I am a U.S. person (including a U.S. resident
alien). We are required by law to obtain and record certain personal information from you or persons on your behalf in order to
accept your Subscription. If you do not provide the information or documentation, we may not be able to accept your Subscription.
By signing this Subscription Agreement, you agree to provide this information and confirm that this information is true and correct.

 

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_______ H.Survival. All representations,
warranties and covenants contained in this Subscription Agreement and the indemnification contained herein shall survive (a) the
acceptance of the Subscription Agreement by the company; (b) changes in the transactions, documents and instruments described in
the Prospectus which are not material or which are to the benefit of any investor; and (c) my death or disability.

 

 

	Date Signed:	 	 	Place Where Signed:	 

 

A. INDIVIDUAL INVESTOR AND JOINT TENANTS WITH RIGHT OF SURVIVORSHIP

 

	X	 	 	X	 
	 	Signature (Investor)	 	 	Signature (Investor)

 

B. FOR ALL ENTITIES (Corporation, Partnership, LLC, Trust,
etc.)

 

	 	 
	Print Name of Entity (Investor)	 

 

	By:	 	 	 	 
	 	Print Name of Authorized Representative	 	 	Title

 

	X	 	 	 	 
	 	Signature 	 	 	 

 

C. CUSTODIAL ACCOUNTS: For Custodial Accounts, such as
IRA’s and other qualified plans, checks should be made payable to the custodian and sent, with a completed copy of this Subscription
Agreement, directly to the custodian who will then forward the necessary documentation and payment.

 

Custodian Information – to be completed by Custodian:

 

Name of Custodian, Trustee or other Administrator: __________________________________________

 

FBO Account Holder Name: _____________________________________________________________

 

Account Number: ______________________________________________________________________

 

Street / P.O. Box: ______________________________________________________________________

 

City, State, Zip: ________________________________________________________________________

 

Custodian Tax ID #: ____________________________________________________________________

 

Custodian Telephone #: __________________________________________________________________

 

Custodian Email Address: ________________________________________________________________

 

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This Subscription Agreement and payment for the Shares purchased (check payable to “RichUncles Real Estate Investment
Trust I”) must be mailed to:

 

RichUncles Real Estate Investment Trust I 

1419 Dolphin Terrace 

Corona del Mar, CA 92625

 

Submit questions or comments to info@nexregen.com or
toll-free 1-888-749-3026

 

 

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