Document:

Offer Letter

 Exhibit 10.1 
 July 11, 2008 
 Mr. Michael J. Cayer 
 191 Newport Street 
 Arlington, MA 02476 
 Dear
Michael: 
 It is a distinct pleasure to offer you the position of Vice President, General Counsel and Secretary with Soapstone Networks, Inc. (the
“Company”). In this capacity you will report to William Stuart, Senior Vice President of Finance and Administration and CFO. Your starting bi-weekly base salary will be $8,653.85, which annualized is $225,000.10. In addition, you will be
eligible to participate in the Company’s Executive Incentive Plan (“EIP”) at a target of 35% of your annual base pay. The EIP is based on six-month targets. 
 In this role, you will be considered an “executive officer” of the Company as that term is used in rules and regulations proscribed by the Securities and Exchange Commission (the “SEC”).
Consequently, you will be responsible for compliance with all SEC rules and regulations applicable to executive officers. 
 At all times during the term of
your employment, the Company shall maintain director and officer liability insurance in such amounts and under such terms as approved by the Company’s board of directors. The Company also acknowledges that in your role as General Counsel, you
are deemed an officer of the Company and, accordingly, are entitled to indemnification for your actions undertaken in the scope of your employment with the Company in accordance with, and subject to, the Company’s Certificate of Incorporation.

 You will also be granted an option to purchase 60,000 shares of Soapstone Networks, Inc. Common Stock with an exercise price per share equal to the fair
market value of the Soapstone Common stock on the date of grant. The stock will vest over four years at 25% per year. After your first anniversary, the remaining shares vest on a per month basis of 2.0833%. All stock grants are subject to the
terms and conditions of the Corporation’s Stock Option and Incentive Plan and subject to approval by the Board of Directors. 
 You will be covered for
twelve (12) months of severance pay and benefits and receive accelerated vesting of stock options in the event of a change of control of the Company, all as under the terms of the attached severance agreement. 
 The Company strives to offer a competitive employee benefit program. Your participation in this program will be subject to the standard eligibility requirements for all
Soapstone employees. Soapstone’s benefits are described in the enclosed document titled “Employee Benefits Programs 2008”. The Company offers three medical insurance plans to choose from, Blue Cross/Blue Shield of New England-HMO,
Blue Cross and Blue Shield HMO Enhanced Value and Blue Cross/Blue Shield-PPO. Other benefits include Delta Dental plan with orthodontia coverage, a Fidelity 401(k) Savings and Retirement Plan with a company match, pre-tax medical and dependent care
programs, VSP vision plan, life insurance, supplemental life insurance, short and long-term disability benefits, an Employee Stock Purchase Plan, a legal assistance program, and other optional programs. Soapstone also offers vacation (accrued up to
15 days) and holidays (10 days plus 1 floater). Please note that the Company reserves the right to change, modify or discontinue any of its current benefits plans, providers and policies in the future. 
 Please plan on arriving promptly at 9:00 a.m. at the Concord Road facility on your first day of employment for Benefits Orientation with a member of the Human Resources
group. Bill will be available following orientation to assist you with your initial introduction and assimilation to Soapstone. 

 In accordance with federal law, you will be asked to provide documentation proving your eligibility to work in the United
States. Please bring proper documentation on your first day of work. This can be a U.S. Passport or a driver’s license and a U. S. birth certificate or U. S. Social Security card. Please refer to I-9 Form enclosed for all other types of
acceptable documentation. 
 Please confirm your acceptance of this employment offer by signing one copy of this letter, which will indicate your acceptance
of our offer as well as your anticipated start date and return it to me. If you wish to fax a copy to me, please send directly to my office at 978-715-2397. 
 Please understand that this offer does not constitute a contract of employment for any particular period or a guarantee of continued employment. Our relationship is one of voluntary employment, “at will”. While we hope our
relationship will be mutually beneficial, it should be recognized that you will retain your right to terminate your employment at any time for any reason and that the Company will retain the same right. During your first six months of employment,
you will be in a probationary period with the Company. In accepting this offer, you represent that you have not relied upon any agreements or representations, written or oral, express or implied, with respect to your employment that are not
expressly set forth in this letter. 
 Employment with Soapstone Networks is subject to your signing the Invention, Non-disclosure and Non-Compete Agreement.
Note that this Agreement is enclosed for your review prior to accepting this offer. 
 This offer expires as of the close of business on Monday,
July 14, 2008. This offer supercedes all prior offers, both verbal and written. 
 Mike, we are very pleased by the prospect of your joining the
Soapstone team and we are sure that you will play an important role in the future success of the Company. 
 Sincerely, 
 Diane Brown 
 Director, Human Resources 
 I have carefully reviewed this offer of employment and agree that it sets forth the entire understanding between the Company and me. I also understand that my employment
at the Company is “at-will” which means that either the Company or I can terminate the employment relationship at any time, either with or without cause or notice. 
  

							
	 Accepted by:
	 	 /s/ Michael J. Cayer
	  	Date: 7/14/08	  	
				
	 Start Date:
	 	  7/14/08
	  		  	

  

			
	Enclosures:	  	2008 Benefits Summary for Full-Time Employees
		  	Invention, Non-disclosure and Non-Compete Agreement
		  	I-9 Form
		  	BC/BS HMO and PPO Plan Descriptions
		  	Delta Dental Plan Description
		  	2008 Global Stock Plan
		  	2000 ESPP PlanSeverance Pay Agreement

 Exhibit 10.2 
 SEVERANCE PAY AGREEMENT 
 This agreement is entered into by and between Soapstone Networks, Inc. (the “Company”)
and Michael J. Cayer (“you”) dated as of July 14, 2008 (the “Effective Date”). 
 SEVERANCE PAY 
 You will receive severance pay if you are terminated from employment with the Company without Cause or if you resign for Good Reason. 
 The amount of the severance pay will be twelve (12) months of your base salary at the rate in effect on your separation date, less applicable taxes. In addition, if
you extend your group health, dental, and/or vision insurance coverage under COBRA, for the first twelve (12) months the Company will pay the same percentage of your monthly premiums that it pays for active employees. For the remainder of the
COBRA period you will be solely responsible for the full premium amounts. 
 To receive severance pay, you will be required to sign a release of claims
(which will not require you to release any rights to indemnification or exculpation or rights under any applicable insurance policies) in a form reasonably acceptable to the Company. Severance pay will be paid in accordance with the Company’s
regular payroll practices beginning promptly after your signed release of claims goes into effect. 
 In addition, if you are terminated without Cause prior
to a Change of Control, the vesting of your Company options will accelerate by six (6) months. 
 STOCK OPTIONS 
 Upon a Change of Control, at least fifty percent (50%) of the unvested portion of the Options and any additional stock option awards granted under the Plan, will
immediately vest and become exercisable (by crediting you for such purpose with additional service time, such that options will continue to vest following a Change of Control at the pre-existing number of shares per installments, but over one-half
of the pre-existing remaining vesting period). The remaining unvested portion of your options will continue to vest in accordance with the terms of the applicable agreement and the Plan following the Change of Control. 
 For example, if you have been awarded 120 options under the Plan that vest over four years at the rate of 2.5 options per month, after three years 90 of your options
will have vested and 30 will be unvested. Upon a Change of Control occurring at the end of year three, at least 15 of your 30 unvested options will immediately vest and become exercisable. Your remaining unvested options will continue to vest at the
rate of 2.5 per month. 
 If at the time of or within twelve months following a Change of Control you are terminated without Cause or you resign for
Good Reason, and you (b) sign and return the Release, all of your unvested options under the Plan (including for clarity any options issued by an acquirer of the Company on assumption of or substitution for your Company options) will
immediately vest and become exercisable. 
 The above terms do not apply to any restricted stock grants, which continue to be governed by the applicable
agreement(s) and plan. 

 DEFINITIONS; OTHER 
 A
termination for “Cause” as used herein means your being terminated due to (a) willful misconduct or violation of Company policy which causes material harm to the Company, (b) willful breach of an employment or other agreement
with the Company which causes material harm to the Company, or (c) being convicted of any felony. 
 A resignation for “Good Reason” as used
herein means you resign because, following or at the time of a Change of Control, (a) you are transferred to a different position or suffer a reduction in responsibility; (b) your compensation is decreased; (c) you are required to
relocate more than fifty (50) miles from your work location immediately prior to the Change of Control; or (d) you are excluded from any material compensatory or benefit plan or arrangement made available to similarly situated employees of
the acquiring party. 
 “Change of Control” as used herein means the closing of (a) the sale of the Company by merger, consolidation or
purchase of outstanding capital stock in which the shareholders of the Company, as such, no longer own a majority of the outstanding equity securities of the Company or its successor; (b) any sale of all or substantially all of the assets of
the Company, other than in a spin-off or similar transaction; or (c) any other acquisition of the business of the Company, as determined by the Board. 
 Assignment. This agreement will be binding on and inure to the benefit of the parties and the Company’s successors and assigns. 
 Confidentiality. You must keep this agreement confidential. The Company may publicly disclose the fact that you have been offered this agreement, the terms of this agreement, and/or your receipt of severance pay under this agreement (the
“Information”). If, prior to the Company’s public disclosure of any or all of the Information, either you disclose any or all of the Information to anyone other than your spouse or financial advisor or your spouse or financial advisor
discloses any or all of the Information, this agreement will become void and you agree to repay any payments already paid hereunder. 
 Employment at Will.
This agreement is not an employment contract. Nothing in this agreement modifies your status as an employee at will or guarantees employment for any length of time. 
 Entire Agreement; Modification; Governing Law. Except as otherwise provided herein, this agreement constitutes the only agreement between you and the Company with respect to the subject matter hereof, superseding in
all respects any and all prior oral or written agreements or understandings pertaining to the subject matter hereof. This agreement may be amended or modified only in a writing signed by both you and the Company. Any dispute concerning this
agreement will be governed by the internal laws of Massachusetts. 
  

									
	SOAPSTONE NETWORKS, INC., by:	 		 	EMPLOYEE
					
	Print name:	 	 William Leighton
	 		 	Print name:	 	 Michael J. Cayer

					
	Signature:	 	 /s/ William Leighton
	 		 	Signature:	 	 /s/ Michael J. Cayer

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