Document:

exh101offerletterbrittan

                                                                                                 DocuSign  Envelope ID: BC1981F4-91B5-445B-AB18-CBAF6038EEB2                                               March 12, 2019              Dear Brittany:              We’re thrilled to offer you a position with Sonos!              In the exempt position of Chief Financial Officer you’ll be based in our Santa Barbara office reporting to           Patrick Spence.              This letter outlines information related to your compensation and benefits. Attached to this letter is an           Addendum A which contains the “Employee Agreement”. The Employee Agreement describes           additional material terms and conditions of your employment. You should read this offer letter and the           attached Employee Agreement carefully.              Base Salary           If you decide to join Sonos, you will be paid an initial annual salary of $475,000 (your “Base Salary”),           which will be paid semi-monthly in accordance with Sonos’ normal payroll practices as established or           modified from time to time. Your Base Salary shall be subject to all of the required and elected           deductions, taxes and withholdings.              Bonus Eligibility           For FY19, you will receive a guaranteed bonus of $50,000, payable in November 2019, subject to           you being employed through the payment date. Such bonus shall be subject to all of the required           and elected deductions, taxes and withholdings.           For FY20, you will be eligible for a discretionary target bonus of 25% of your annual base salary,           which will be earned based solely on the company’s performance against its annual target for           revenue growth and operating profit. You must remain employed by Sonos through the actual           payment date to be eligible to receive any bonus payment. Sonos reserves the right to change its           discretionary bonus criteria from time to time in Sonos's sole discretion. Such bonus shall be           subject to all of the required and elected deductions, taxes and withholdings.              Equity Award           If you decide to join Sonos, at the first meeting of the Compensation Committee (the “Committee”)           of Sonos' Board of Directors following your start date (“Committee Meeting”) it will be           recommended that Sonos grant you an option to purchase shares of Sonos' Common Stock and           grant you restricted stock units (“RSUs”) settleable in shares of Sonos’ Common Stock. Subject to           approval by the Committee, the option grant will give you the right to purchase up to 500,000           shares of Common Stock at a price per share equal to the fair market value of Sonos’ Common           Stock on the date of grant, as determined by the Committee at the Committee Meeting. Subject to           approval by the Committee, the grant of RSUs will give you the right to receive shares of Common           Stock in an aggregate value of up to $6,000,000 as determined by the Committee on the date of           grant.                                                             1  

 

                                                                                                 DocuSign  Envelope ID: BC1981F4-91B5-445B-AB18-CBAF6038EEB2            The Company currently intends, that the number of RSUs will be determined by dividing $6,000,000           by the average closing price of Sonos’ Common Stock over all trading days over the 30 calendar           days immediately preceding the grant date.           The option shares and the RSUs will vest as follows: 25% of the RSUs will vest 12 months after           your grant date, subject to your continuing employment with Sonos on such vesting date. The           remaining RSUs will vest quarterly over the next three years in equal quarterly installments, in each           case, however, subject to your continuing employment with Sonos on each such vesting date.           The option and RSU grants will be subject to the terms and conditions of Sonos' 2018 Equity           Incentive Plan and Sonos’ standard forms of award agreements thereunder.                      Transportation Benefit           Until permanent relocation to Santa Barbara, during your employment with Sonos, Sonos will           provide air travel from/to San Francisco.                         Relocation           Plus Relocation, our relocation vendor, will provide reimbursement and assistance with costs related to           relocation such as movers, temporary housing, etc., up to a total maximum of $30,000, subject to your           execution of the Relocation Agreement, the terms and conditions outlined therein, the Company’s           Relocation Policy, and applicable IRS rules, all as in effect from time to time.                      Benefits           Regular full-time employees working 30 or more hours per week will be eligible to receive benefits that           are provided to U.S. employees. These presently include benefits such as life and health (medical, dental           & vision) insurance, paid time off, and a 401(k) plan. For a more detailed understanding of the benefits           and the eligibility requirements, please consult the summary plan descriptions for the programs and           Sonos’ Employee Handbook, which will be made available to you during your new hire orientation. Sonos           reserves the right to discontinue, suspend, or to modify such plans, programs and practices at any time           in Sonos’ sole discretion.                 Important Terms and Conditions of Employment              There are several important terms and conditions of employment at Sonos of which you should be aware.           These terms, which are explained in the attached Employee Agreement, generally apply to all U.S.           employees of Sonos in the same manner as they will apply to you. This offer of at-will employment is           expressly conditioned upon a satisfactory background check, and your acceptance and execution of both           the Employee Agreement and Arbitration Agreement (respectively attached as Addendum A and B).              Please accept this offer by signing and dating below no later than March 29, 2019. If you accept our           offer, we anticipate that your first day of employment would be April 22, 2019. In accepting this offer of           employment, you represent and warrant that you are not relying upon any representation or statement           except those terms set forth in this letter. You acknowledge that this letter supersedes all prior           representations regarding the terms and condition of your employment.                                                                                   2  

 

                                                                                                 DocuSign  Envelope ID: BC1981F4-91B5-445B-AB18-CBAF6038EEB2            We look forward to having you join us as we lead the music-listening revolution.                                                        ACCEPTED AND AGREED:                       Brittany Bagley                                                                                                             EMPLOYEE SIGNATURE                      SIGNATURE DATEMarch  29, 2019 | 10:04 AM PDT                                                                               Sonos, Inc.                                                                                                                                                                             Patrick Spence                                                                           Chief Executive Officer                                                   3  

 

                                                                                                 DocuSign  Envelope ID: BC1981F4-91B5-445B-AB18-CBAF6038EEB2                                              Addendum A                                            Employee Agreement                (At Will Employment, Confidential Information, and Invention Assignment Agreement)                     As a condition of your employment with Sonos, Inc., its subsidiaries, affiliates, successors            or assigns (collectively, “Sonos”), and in consideration of your employment with Sonos and your            receipt of the compensation now and hereafter paid to you by Sonos, you agree to the following            terms and conditions outlined in this At Will Employment, Confidential Information, and Invention            Assignment Agreement (“Employee Agreement”). This Employee Agreement shall be effective            as of the date you sign below. Terms not defined herein shall have the meaning set forth in the            accompanying offer letter.                           1. Specifics of Employment.                        A.    At Will Employment. Your employment shall be on an at-will basis. As an            at-will employee, either you or Sonos can terminate your employment at any time and for any            reason or no reason, with or without prior notice. As a result, nothing in the offer letter (including            the Addendum(s) ) is a promise or guarantee of employment for any specific period of time or            continued employment. Any contrary representations, which may have been made to you, are            superseded by this Employee Agreement. Sonos also retains the right to make all other decisions            concerning  your  employment  (e.g.,  changes  to  your  position,  title,  level,  responsibilities,            compensation, job duties, reporting structure, work location, work schedule, goals or any other            managerial  decisions)  at  any  time,  with  or  without  cause  or  advance  notice,  as  it  deems            appropriate in its sole discretion. Although your job duties, title, compensation and benefits, as            well as Sonos’ 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 a duly authorized officer of Sonos.                           By  signing  this  employment  agreement,  you  understand  and  acknowledge  that            your employment with Sonos is for an unspecified duration and constitutes “at-will” employment.            You also understand that any representation to the contrary is unauthorized and not valid unless            obtained in writing and signed by the chief executive officer of Sonos. You acknowledge that this            employment relationship may be terminated at any time, with or without good cause or for any or            no cause, at the option either of Sonos or yourself, with or without notice.                           B.    Compliance with Sonos Standards; Cooperation. As a Sonos employee,            you will be expected to abide by Sonos' policies, rules and standards of conduct outlined in the            Employee Handbook, as well as this Employee Agreement. To this end, Sonos expects you to            comply at all times with Sonos’ policies, including without limitation standards of professionalism,            respect for others, data security policy, facilities and IT systems policies, and Sonos Purchasing            Policy. All relevant policies shall be provided to you following your start date. You may be required            to acknowledge receipt of and intended compliance with any such policy statements provided to            you.                           You additionally represent and warrant that you shall observe and comply with all            applicable laws, ordinances, codes and regulations of governmental agencies, including federal,            provincial,  state,  municipal  and  local  governing bodies,  in performing  your  employment  duties            hereunder. You also agree that, during the term of your employment with Sonos and at all times            thereafter,  upon  reasonable  request,  you  will  fully  cooperate  with  Sonos  and/or  its            representatives, without additional compensation, concerning any business matters or disputes            of any kind about which you have, or may have, any relevant information.                                                  4  

 

                                                                                                 DocuSign  Envelope ID: BC1981F4-91B5-445B-AB18-CBAF6038EEB2                         C.    Background  Check. Sonos reserves  the  right  to  conduct  background            investigations and/or reference checks on all of its potential employees prior to hire and during            employment. The offer of employment may be rescinded at any time in the event of unsatisfactory            background investigation and/or reference check results. If required by law, you will receive a            disclosure regarding the nature and scope of the background check Sonos plans to conduct on            you and a consent form to authorize Sonos to conduct such background check under separate            cover.                        2. Confidential Information.                        A.    Sonos  Confidential  Information.  You  agree  at  all  times  during  your            employment and thereafter, to hold in strictest confidence, and not to use (except for the benefit            of Sonos), and not to disclose to any person, firm or corporation without written authorization of            the Board  of  Directors  of  Sonos,  any  Confidential  Information  of  Sonos,  except  under  a  non-            disclosure agreement with a third party duly authorized and executed by Sonos. you understand            that “Confidential Information” shall mean any and all confidential and/or proprietary knowledge,            data or information of Sonos, its affiliates, parents and subsidiaries, whether having existed, now            existing, or to be developed during your employment. By  way  of illustration but not limitation,            “Confidential Information” includes: (a) trade secrets, inventions, mask works, ideas, processes,            formulas,  source  and  object  codes,  data,  programs,  other  works  of authorship,  know-how,            improvements,  discoveries,  developments,  designs  and techniques  and  any  other  proprietary            technology  and  all  patents,  copyrights  and/or  other  proprietary  rights  therein;  (b)  information            regarding research, development, new products, marketing and selling, business plans, budgets            and  unpublished  financial  statements,  licenses,  prices  and  costs,  margins,  discounts,  credit            terms, pricing and billing policies, quoting procedures, methods of obtaining business, forecasts,            future plans and potential strategies, financial projections and business strategies, operational            plans,  financing  and  capital-raising  plans,  activities  and  agreements,  internal services and            operational manuals, methods of conducting Sonos business, suppliers and supplier information,            and purchasing; (c) information regarding customers and potential customers of Sonos, including            customer lists, names, representatives, their needs or desires with respect to the types of products            or services offered by Sonos, proposals, bids, contracts and their contents and parties, the type            and  quantity  of  products and  services  provided  or  sought  to  be  provided  to  customers  and            potential customers of Sonos and other non-public information relating to customers and potential            customers; (d) information regarding any of Sonos’ business partners and their services, including            names; representatives, proposals, bids, contracts and their contents and parties, the type and            quantity of products and services received by Sonos, and other non-public information relating to            business  partners;  (e)  information  regarding  personnel, contractors,  employee  lists,            compensation, and employee and contractor skills; and (f) any other non-public information which            a competitor of Sonos could use to the competitive disadvantage of Sonos.  “Confidential            Information” shall not include information that: (1) is or becomes a matter of public knowledge            through no fault of yours or without violation of any duty of confidentiality by you; or (2) is rightfully            received by you from a third party without a duty of confidentiality. Further,  nothing  in  this            Employee  Agreement  shall  prohibit  you  from  discussing  the  terms  and  conditions  of my            employment with others to the extent expressly permitted by Section 7 of the National Labor            Relations Act.                           B.    Former  Employer  Information.  You  agree  that  you  will  not,  during your            employment with Sonos, improperly use or disclose any proprietary information or trade secrets            of any former employer or other person or entity and that you will not bring onto the premises of            Sonos  any unpublished  document  or  proprietary information  belonging  to  any such employer,            person or entity unless consented to in writing by such employer, person or entity.                        C.    Third Party Information. You recognize that Sonos has received and in the            future will receive from third parties their confidential or proprietary information subject to a duty            on Sonos’ part to maintain the confidentiality of such information and to use it only for certain                                                  5  

 

                                                                                                 DocuSign  Envelope ID: BC1981F4-91B5-445B-AB18-CBAF6038EEB2             limited purposes. You agree to hold all such confidential or proprietary information in the strictest            confidence and not to disclose it to any person, firm or corporation or to use it except as necessary            in carrying out your work for Sonos consistent with Sonos’ agreement with such third party.                           3. Inventions.                        A.    Inventions Retained and Licensed. Upon signing the Employee Agreement,            you will be prompted to review a separate attachment titled “List of Prior Inventions” where you            will  list  all  inventions,  original  works  of  authorship,  developments,  improvements,  and  trade            secrets which were made by you prior to your employment with Sonos, which belong to (or are            otherwise controlled by) you (collectively referred to as “Prior Inventions”), and which you do not            wish to be assigned to Sonos hereunder; or, if no such list is outlined, you represent that there            are no such Prior Inventions. Upon signing the Employee Agreement, the List of Prior Inventions            will be provided electronically as a separate attachment. If, during your employment with Sonos,            you incorporate into a Sonos product, process or service a Prior Invention, you hereby  grant  to            Sonos  a  nonexclusive,  royalty-free,  fully  paid-up,  irrevocable,  perpetual,  worldwide  license to            make, have made, modify, use and sell such Prior Invention as part of or in connection with such            product, process or service, and to practice any method related thereto.                           B.    Assignment of Inventions. You agree that you will promptly make full written            disclosure to Sonos, and will hold in trust for the sole right and benefit of Sonos, or its designee,            all  my  right, title,  and  interest  in  and  to  any  and  all  inventions,  original  works  of  authorship,            developments,  concepts,  improvements,  designs,  discoveries,  ideas,  algorithms,  databases,            computer programs, formulae, techniques, graphics or images, audio or visual works, trademarks            or trade secrets, in each case whether or not patentable or registrable under copyright or similar            laws, which you may solely or jointly conceive or develop or reduce to practice, or cause to be            conceived or developed or reduced to practice, during the period of time you are in the employ of            Sonos (collectively referred to as “Inventions”), except as provided in Section 3.E below. You            further acknowledge that all Inventions which are made by you (solely or jointly with others) within            the scope of and during the period of your employment with Sonos and which are protectable by            copyright are “works made for hire,” as that term is defined in the United States Copyright Act and            other intellectual property laws, and you hereby do assign and transfer and, to the extent any such            assignment cannot be made at present, will assign and transfer, to Sonos and its successors and            assigns, without further compensation, all of your right, title and interest in all such Inventions,            and all related patents, patent applications, trademarks and trademark applications, copyrights            and  copyright  applications, and other  intellectual  property  rights  in all  countries  and  territories            worldwide and under any international conventions (collectively, “Intellectual Property Rights”).            You  understand  and  agree  that  the  decision  whether  or  not  to  commercialize  or  market  any            invention developed by you solely or jointly with others is within Sonos’ sole discretion and for            Sonos’ sole benefit and that no royalty will be due to you as a result  of  Sonos’  efforts  to            commercialize or market any such Invention. Further, you hereby waive all claims to any moral            rights or other special rights which you may have or accrue in any Inventions  or  Intellectual            Property Rights.                           C.    Maintenance of Records. You agree to keep and maintain adequate and            current written records of and documentation underlying all Inventions made by you (solely or            jointly with others) during the term of your employment with Sonos. The records will be in the form            of notes, sketches, drawings, and any other format that may be specified by Sonos. The records            will be available to and remain the sole property of Sonos at all times.                        D.    Patent  and  Copyright  Registrations.  You  agree  to  assist  Sonos,  or  its            designee, at Sonos’ expense, in every proper way to secure Sonos’ rights in the Inventions and            any copyrights, patents, mask work rights or other intellectual property rights relating thereto in            any and all countries, including the disclosure to Sonos of all pertinent information and data with                                                  6  

 

                                                                                                 DocuSign  Envelope ID: BC1981F4-91B5-445B-AB18-CBAF6038EEB2             respect thereto, the execution of all applications, specifications, oaths, assignments and all other            instruments which Sonos shall deem necessary in order to apply for and obtain such rights and            in  order  to assign  and  convey  to  Sonos,  its  successors,  assigns,  and  nominees the  sole and            exclusive rights, title and interest in and to such Inventions or Intellectual Property Rights relating            thereto. You further agree that your obligation to execute or cause to be executed, when it is in            your power to do so, any such instrument or papers shall continue after the termination of this            Employee Agreement and/or your employment with Sonos. If Sonos is unable because of your            mental or physical incapacity or for any other reason to secure your signature to apply for or to            pursue any application for any United States or foreign patents or copyright registrations covering            Inventions assigned to Sonos as above, then you hereby irrevocably designate and appoint Sonos            and its duly authorized officers and agents as your agent and attorney in fact, to act for and in            your behalf  and  stead  to  execute  and  file  any  such  applications  and  to  do  all  other lawfully            permitted acts to further the prosecution and issuance of letters patent or copyright registrations            thereon with the same legal force and effect as if executed by you.                           E.    Exception  to  Assignments.  You  understand  that  the  provisions  of  this            Employee Agreement requiring assignment of Inventions to Sonos do not apply to any invention            that you developed entirely on my own time without using Sonos’ equipment, supplies, facilities,            or trade secrets, except for those inventions that either (i) relate to Sonos actual or anticipated            business, research or development, or (ii) result from or are connected with work performed by            you  for Sonos. Specifically,  you  understand that my  agreement to  assign  Inventions  does not            apply to any invention which qualifies fully for protection from assignment to Sonos under the            provisions  of  California  Labor  Code  Section 2870  or  Washington  state  law as  set  forth  in the            Revised Code of Washington 49.44.140 (the text of which are attached hereto as Exhibit A) or            any other similar applicable federal or state law related to the assignment of employee inventions            (collectively, the “Excluded Inventions Laws”). You will advise Sonos promptly in writing of any            inventions  that  You believe  are  excluded  from assignment by  virtue of  meeting  the  criteria  in            California Labor Code Section 2870, the Revised Code of Washington 49.44.140 or any other            applicable Excluded Inventions Law and are not otherwise disclosed on the List of Inventions.                           F.    Obligation  to  Keep  Sonos  Informed  About  Post-Employment            Inventions/Intellectual Property Rights. For the six-month period following the termination of my            employment from Sonos, you agree that you will promptly disclose to Sonos fully and in writing            all  inventions,  original  works  of  authorship,  developments,  concepts,  improvements,  designs,            discoveries, ideas, algorithms, databases, computer programs, formulae, techniques, graphics or            images, audio or visual works, inventions authored, conceived or reduced to practice by me, either            alone  or  jointly  with  others  (the “Post-Employment  Inventions”)  and/or  all  United  States  or            foreign patent, copyright or other intellectual property right(s) filed by you (solely or with others)            and/or on my behalf (the “Post-Employment Intellectual Property Rights”) if such intellectual            property or Intellectual Property Rights related to products or projects on which you worked or to            which you had access during your Sonos employment. You agree that Sonos will have the right            to request information from you related to the Post-Employment Inventions or Post-Employment            Intellectual  Property  Rights  (including,  information  related  to  the  date  of  conception  and/or            implementation) for purposes of determining  whether the Post-Employment  Invention at  issue            uses, is derived from, and/or otherwise misappropriates Sonos’ trade secrets and/or Confidential            Information and/or was developed during your Sonos employment and/or using Sonos’ property.            Nothing herein limits Sonos’ right to pursue all remedies to protect its intellectual property. Sonos            will keep in confidence and will not use for any purpose or disclose to third parties without your            consent any confidential information disclosed in writing to Sonos pursuant to this subparagraph.                           G.    Use of Image of Likeness. You authorize Sonos to use your name, picture,            signature,  voice,  image  and/or  likeness  during  your  employment  by  Sonos  and  at  any  time                                                  7  

 

                                                                                                 DocuSign  Envelope ID: BC1981F4-91B5-445B-AB18-CBAF6038EEB2             thereafter. Further, you waive all claims you may now have or may ever have against Sonos and            its officers, directors, employees and agents arising out of Sonos’ use, adaptation, reproduction,            modification,  distribution,  exhibition  or  other  commercial  exploitation  of  your  name,  picture,            signature,  voice,  image  and/or  likeness,  including,  but  not  limited  to  right  of  privacy,  right of            publicity and celebrity, use of voice, name or likeness and copyright infringement.                           4. Conflicts.                        A.    Conflicting  Employment. You  agree  that,  during  the  term  of your            employment with Sonos, you will not engage in any other employment, occupation or consulting            directly related to the business in which Sonos is now involved or becomes involved during the            term  of  your  employment,  nor  will  you  engage  in  any  other  activities  that  conflict  with your            obligations to Sonos.                           B.    Conflicting Obligations. By accepting your offer of employment, you represent            and warrant that your employment with Sonos and the performance by you of your duties as a Sonos            employee do not and will not breach or contravene: (i) any agreement or contract (including, without            limitation, any employment or consulting agreement, any agreement not to compete, or any            confidentiality or nondisclosure agreement) to which you are a party; or (ii) any obligation you may            otherwise have under applicable law to any former employer or to any person to whom you have            provided consulting services. You further represent and warrant that you have disclosed to Sonos the            details of all agreements, contracts and/or obligations relevant to clauses (i) and (ii) above.                           5. Returning Company Documents. You agree that, at the time of leaving the            employ of Sonos (or earlier, if requested), You will deliver to Sonos (and will not keep in my            possession, recreate or deliver to anyone else) any and all devices, records, data, notes, reports,            proposals, lists, correspondence, emails, specifications, drawings blueprints, sketches, materials,            equipment, other documents or property, or reproductions of any aforementioned items (including            electronic copies) developed by you pursuant to you employment with Sonos or otherwise belonging            to Sonos, its successors or assigns, including, without limitation, those records maintained pursuant            to paragraph 3.C.                           6. Notification of New Employer.  If you leave the employ of Sonos, you hereby            grant consent to notification by Sonos to your new employer about your obligations under this            Employee Agreement. If you were offered employment or the opportunity to enter into any business            venture as owner, partner, consultant or other capacity, you agree to inform your potential employer,            partner, co-owner and/or others involved managing the business with which you have an opportunity            to be associated of your obligations under this Employee Agreement and also agree to provide such            person or persons with a copy of this Employee Agreement (if so requested).                           7. No Expectation of Privacy. You acknowledge and agree that you do not have any            privacy interest in any items or material stored on Sonos’ premises or property, including without            limitation any files or data stored on Sonos’ computers, network and/or phones (including cell            phones), such as email, pictures or documents, whether in an active state, or obtained from restored            backups, and regardless of whether such files or data had previously been deleted by me. Without            limiting the foregoing, you further acknowledge that the full contents of you email and stored data may            be made known to or disclosed to other Sonos employees as required in the normal course of Sonos’            operations, both during and after your employment with Sonos. You authorize Sonos to monitor            communications made by you using Sonos’ property, facilities and resources, and the right to search            and enter all areas of Sonos’ premises, including any locked desks or drawers. You also authorize            Sonos to search any of your personal computers, personal cell phones or other electronic or storage            devices to the extent such devices are used by you: (i) to store or transmit Confidential Information; or            (ii) to discharge your duties or conduct business on behalf of Sonos.                                                  8  

 

                                                                                                 DocuSign  Envelope ID: BC1981F4-91B5-445B-AB18-CBAF6038EEB2                            8. Remedies.                        A.    Equitable  Relief. You  understand  that  if  You  violate  the  terms  of  this            Employee Agreement while You are employed by Sonos, you will be subject to disciplinary action            up to and including discharge from your employment. You further agree and acknowledge that            the non-disclosure and assignment of Invention covenants and undertakings in Sections 2 and 3            of  this  Employee  Agreement  relate  to  matters that  are  of  a  special,  unique and  extraordinary            character and that a violation or breach of any of the restrictive covenants or assignment clauses            in this Employee Agreement will cause irreparable harm to Sonos, the full amount of which will            be impossible to estimate or determine and which cannot be adequately compensated. For that            reason, you agree that if you breach any of your confidentiality or assignment obligations under            this Employee Agreement, monetary compensation shall be inadequate to compensate Sonos for            such  breach.  You  therefore  agree  that,  in  the  event  of  a  breach  or  threatened  breach  of  the            confidentiality and/or assignment of Invention obligations by you, Sonos is entitled, in addition to            any of the other rights, remedies or damages available to Sonos, to a temporary restraining order,            a preliminary injunction and a permanent injunction in order to prevent or to restrain any breach            or threatened breach by you or any of your partners, co-venturers, employers, employees, agents,            representatives or any other persons directly or indirectly acting for you. Sonos may apply for            such injunctive relief in any court of competent jurisdiction without the necessity of posting any            bond or other security.                           B.    Reimbursement. You  agree  to reimburse  Sonos  for  any  costs  resulting            from or related to any claims, liabilities and damages arising from any claim brought against Sonos            by a former employer(s) alleging that you are in breach of any legal obligations that you owe to            any former employer(s). If such a claim is started against Sonos then Sonos shall have the option,            exercisable in its sole discretion, to terminate your employment immediately, consistent with the            at-will nature of our relationship.                           C.    Attorneys’ Fees. If you breach this Employee Agreement, you agree that            Sonos, if the prevailing party, shall be entitled to recover its reasonable attorneys’ fees and costs,            to the extent such recovery is not prohibited by law. This remedy shall be in addition to, and not            as an alternative to, any other remedies at law or in equity available to Sonos.                           9. General Provisions.                        A.    Governing  Law. This  Employee  Agreement  shall  be  governed  by  and            construed and interpreted in accordance with the laws of the state in which you are employed by            Sonos, without regard to its conflict of laws.                           B.    Arbitration Agreement/Venue/Jury Waiver. You acknowledge that you have            executed an Arbitration Agreement contemporaneously with this Employee Agreement and agree            that the Arbitration Agreement shall govern whether a particular dispute must be submitted to            arbitration  or  may  proceed  in  the  courts.  As  set  forth  in  the  Arbitration  Agreement  and  as            reaffirmed  herein,  Sonos  and  you  agree  that  any  claims  for  equitable  relief  or  declaratory            judgment by either Sonos or you arising out of the non-disclosure or assignment of Inventions            provisions set forth in Sections 2 and 3 of this Employee Agreement are expressly excluded from            the agreement to arbitrate certain claims as provided in the Arbitration Agreement. Sonos and            you further agree that any such causes of action shall be commenced and maintained in any state            or federal court located within the state in which you are employed by Sonos and you hereby            submit to the personal jurisdiction of such court. Each party hereto hereby irrevocably waives any            and  all  right  to  trial by  jury  in any  legal proceeding arising  out of  or  relating  to this employee            agreement or the transactions contemplated hereby.                                                     9  

 

                                                                                                 DocuSign  Envelope ID: BC1981F4-91B5-445B-AB18-CBAF6038EEB2                         C.    Entire  Agreement.  This  Employee  Agreement  sets  forth  the  entire            agreement and understanding between Sonos and you relating to the subject matter herein and            supersedes all prior discussions or representations between us including, but not limited to, any            representations made during your interview(s) or offer negotiations, whether written or oral, except            for the Arbitration Agreement. No modification of or amendment to this Employee Agreement, nor            any waiver of any rights under this Employee Agreement, will be effective unless in writing signed            by an authorized representative of Sonos and you.                           D.    Severability/Modification.  If  any  of  the  provisions  of  this  Employee            Agreement shall be invalid or unenforceable, such invalidity or unenforceability shall not invalidate            or render unenforceable the remainder of this Employee Agreement, but rather the remainder of            this  Employee  Agreement  shall  be  construed  as  if  not  containing  the  particular  invalid  or            unenforceable  provision  or  provisions,  and  the rights  and  obligations  of  the  parties  shall  be            enforced  accordingly.  Moreover,  if  one  or  more  of  the  provisions  contained  in  this  Employee            Agreement shall for any reason be held to be excessively broad as to scope, activity, subject or            otherwise so as to be unenforceable at law, such provision or provisions shall be construed by            the appropriate judicial body or arbitrator by limiting, revising or reducing it or them, so as to be            enforceable to the maximum extent compatible with the applicable law as it shall then appear.            The parties hereby agree that the language of all parts of this Employee Agreement shall in all            cases be construed as a whole according to its fair meaning and not strictly for or against any of            the parties.                        E.    Successors and Assigns. This Employee Agreement will be binding upon            your heirs, executors, administrators and other legal representatives. Sonos shall have the right            to assign this Employee Agreement to its successors and assigns without consent by you, and all            covenants and agreements hereunder shall ensure to the benefit of and are enforceable by said            successors and assigns. You do not have the right to assign this Agreement.                           F.    No Abandonment Regardless of Material Change. You agree that Sonos            may modify or change your position, duties, compensation, benefits, responsibilities, and/or any            other terms and conditions of employment as it deems appropriate in its sole discretion. Any such            changes to the terms and conditions of my employment (whether material or immaterial) shall not            alter  or  modify  your  obligations  as  set forth  herein and  shall not be  construed as  an  intent or            agreement to abandon this agreement, to create a new employment relationship, and/or to relieve            you of your obligations hereunder (unless such agreement or intent is expressly and specifically            set forth in writing by Sonos). You acknowledge and agree that this Employment Agreement shall            remain  in  full  force  and  effect  regardless  of  any  change  in  the  terms  and  conditions  of  my            employment (whether material or immaterial).                           G.    Waiver. Sonos  may  waive  any  breach  by  you  of  any  provision  of  this            Employment  Agreement  expressly  in  writing  in  its  sole  discretion.  Any  waiver  by  Sonos  of  a            breach of any provision of this Employment Agreement shall not operate or be construed as a            waiver of any subsequent breach of such provision or any other provision hereof.                        H.    Survival.  You  understand  and  agree  that  your  obligations  under  this            Employment Agreement shall survive the termination of this Employment Agreement and/or your            employment regardless of the manner of such termination and shall be binding upon your heirs,            executors, administrators and legal representatives.                           10. Acknowledgment/Independent Legal Advice. You acknowledge that you            have carefully read and considered the provisions of this Employment Agreement. You further            acknowledge that you have had the opportunity to seek legal advice, and have either obtained            such advice with regard to this Employee Agreement or have chosen not to do so. You agree            that the restrictions and covenants set forth in this Employee Agreement are fair and reasonable                                                  10  

 

                                                                                                 DocuSign  Envelope ID: BC1981F4-91B5-445B-AB18-CBAF6038EEB2             and are necessary for the protection of the interests of Sonos and its business, officers,            directors and employees.               Accepted and agreed:               Brittany Bagley                                              EMPLOYEE SIGNATURE                  SIGNATUREMarch 29, DATE2019 |  10:04 AM PDT                                                               Sonos, Inc.                                                                                                                                                          Patrick Spence                                                                Chief Executive Officer                                                                                                                   11  

 

                                                                                                 DocuSign  Envelope ID: BC1981F4-91B5-445B-AB18-CBAF6038EEB2                                              Addendum B                                          Arbitration Agreement             This Arbitration Agreement (“Arbitration Agreement”) is entered into by and between Sonos,            Inc. and its affiliates and successors (referred to herein as the “Sonos”) and Brittany Bagley            (referred to herein as “You”).               1.    Agreement to Arbitrate.                     a.    Mutual Agreement to Arbitrate Certain Claims/Issues. In consideration of Sonos’            offer of employment and/or continued employment to You and your acceptance of the same, You            and Sonos agree that any and all existing or future disputes or claims related to your employment            with Sonos (including, but not limited to, the termination of your employment with Sonos), except            those claims and disputes identified below in subparagraph (b) of this Section, will be resolved by            final and binding arbitration and that no other forum for dispute resolution will be available to either            party. Except as set forth in Section 1(b) or otherwise prohibited by applicable law, claims subject            to arbitration include, but are not limited to:                           (i)   Claims related to your employment, change in employment status, and/or            termination of employment with Sonos;                           (ii)  Claims  under any  California,  Massachusetts,  New  York,  Washington,  or            any other state, federal and/or municipal statute, regulation, ordinance, law and/or executive order            (as  amended)  relating  to  employment,  discrimination  (including  discrimination  on  the  basis  of            race, color, religion, creed, sex, sex harassment, sexual orientation, age, gender identity, marital            status, familial status, pregnancy, national origin, ancestry, alienage, handicap, disability, present            or past history of mental disorders or physical disability, veteran’s status, candidacy for or activity            in  a general  assembly  or other  public office, or constitutionally  protected  acts of  speech),  fair            employment practices, or other terms and conditions of employment, including, but not limited to,            the Age Discrimination in Employment Act and Older Workers Benefit Protection Act (29 U.S.C.            § 621 et seq.), the Civil Rights Acts of 1866 and 1871, Title VII of the Civil Rights Act of 1964 and            the Civil Rights Act of 1991 (42 U.S.C. § 2000e et seq.), the Equal Pay Act (29 U.S.C. § 201 et            seq.), the Americans With Disabilities Act (42 U.S.C. § 12101 et seq.), the Immigration Reform            and  Control  Act  (8  U.S.C.  §  1101  et  seq.),  the  Uniformed  Services Employment  and            Reemployment  Rights  Act  (“USERRA”);  the  California  Fair  Employment  and  Housing Act,  the            Massachusetts  Fair  Employment  Practices  Statute  (M.G.L.  c.  151B  §  1  et  seq.),  the            Massachusetts Equal Rights Act (M.G.L. c. 93 §102), the Massachusetts Civil Rights Act (M.G.L.            c. 12 §§ 11H & 11I), the Massachusetts Privacy Statute (M.G.L. c. 214 § 1B), the Massachusetts            Sexual  Harassment  Statute  (M.G.L.  c.  214  §  1C),  the  Massachusetts  law  against  retaliation            (M.G.L. c. 19C, §11), the New York State Human Rights Law (N.Y. Exec. Law § 290 et seq); the            New York City Human Rights Law (N.Y.C. Admin. Code § 8–101 et seq.); the New York Equal            Rights Law (N.Y. Civ. Rights Law §§ 40 to 45); the Washington Law Against Discrimination (RCW            Chapter 49.60); and the Seattle Fair Employment Practices Ordinance (Seattle Municipal Code            14.04);                           (iii) Claims  under any  California,  Massachusetts,  New  York,  Washington,  or            any other state, federal and/or municipal statute, regulation, ordinance, law and/or executive order            (as amended) relating to leaves of absence, layoffs or reductions-in-force, wages, hours, or other            terms and conditions of employment, including, but not limited to, the National Labor Relations            Act (29 U.S.C. § 151 et seq.), the Family and Medical Leave Act (29 U.S.C. § 2601 et seq.), the                                                  12  

 

                                                                                                 DocuSign  Envelope ID: BC1981F4-91B5-445B-AB18-CBAF6038EEB2             Employee Retirement Income Security Act of 1974 (29 U.S.C. § 1000 et seq.), COBRA (29 U.S.C.            § 1161 et seq.), the Fair Labor Standards Act (29 U.S.C. § 201 et seq.), the Occupational Safety            and Health Act (29 U.S.C. § 651 et seq.), the Worker Adjustment and Retraining Notification Act            (29 U.S.C. § 2101 et seq.), the California Family Rights Act (Cal. Gov. Code §§ 12945.1- 12945.2),            the California Pregnancy Disability Leave Act (Cal. Gov. Code § 12945), the California School            Activities Act (Cal. Labor Code § 230.8), the California Healthy Workplace Health Family Act (Cal.            Labor Code §§ 245-249),  the  Cal-WARN  Act  (Cal.  Labor  Code §§  1400-1408),  the  California            wage payment laws (Cal. Labor Code §§ 200 through 244); the California Overtime Law (Cal.            Labor Code §§ 500-552), the California Minimum Wage Law (Cal. Labor Code § 1182.12), the            Massachusetts Small Necessities Leave Act (M.G.L. c. 149, §52D), the Massachusetts Parental            Leave Law (M.G.L. c. 149, §105D), the Massachusetts Wage Act (M.G.L.            c. 149 § 148 et. seq.), the Massachusetts Minimum Fair Wages Act (M.G.L. c. 151 § 1 et. seq.),            the Massachusetts Equal Pay Act (M.G.L. c. 149 § 105A), the Massachusetts Paid Sick Leave            law (M.G.L. c. 149, §§ 148C; 148D); Article 6 of the New York Labor Law (N.Y. Lab. Law §§ 190-            199-A), including the New York Wage Payment Act (N.Y. Lab. Law § 190, et seq.); the New York            State Minimum Wage Law; all New York Labor Standards; all New York Wage and Hour Laws;            the  Washington  Payment  of  Wages  Law (RCW  49.48.010  and  49.52.050); the  Washington            Overtime Law (RCW 49.46.130); the Seattle Minimum Wage Ordinance; the Washington State            Family Care Act (RCW 49.12.265 et seq); and the Washington Family Leave Act (RCW 49.78);                           (iv)  Claims  under any  California,  Massachusetts,  New  York,  Washington,  or            any  other  state,  federal  and/or  any  other  common  law  theory,  including,  without  limitation,            wrongful  discharge,  breach  of  express  or  implied  contract,  promissory  estoppel,  unjust            enrichment,  breach  of  a  covenant  of  good  faith  and  fair  dealing,  violation  of  public  policy,            defamation, interference with contractual relations, intentional or negligent infliction of emotional            distress,  invasion  of  privacy,  misrepresentation,  deceit,  fraud,  negligence,  or  any  claim  to            attorneys’ fees under any applicable statute or common law theory of recovery;                           (v)   Claims  under  any  California,  Massachusetts,  New  York,  Washington, or            any other state, federal and/or municipal statute, regulation, ordinance, law or executive order (as            amended)  relating to  whistleblower protections,  violation of  public  policy, or any  other  form  of            retaliation or wrongful termination, including but not limited to the Sarbanes-Oxley Act of 2002;            the New York Whistleblower & Retaliation Laws (N.Y. Lab. Law §§ 740, 741, and 215); the New            York Nondiscrimination for Legal Actions Laws;                           (vi)  Claims  under  any  Sonos’  compensation,  benefit,  stock  option,  incentive            compensation, bonus, restricted stock, and/or equity plan, program, policy, practice or agreement,            or any other type of employment-related agreement, contract or policy; and/or                           (vii) Any other claim arising under other state, federal, municipal or other local            law not specifically itemized herein.               The  parties  also  agree  that  the  arbitrator  shall  have  the  power  and  authority  to  interpret  this            Agreement and to decide whether a certain dispute or claim is subject to arbitration under this            Agreement. This power and authority to determine arbitrability is hereby expressly delegated to            the appointed arbitrator and not to any judge or court. The parties agree that this agreement to            arbitrate also covers claims brought by You against Sonos’ agents, officers or other employees            for actions they may have taken in connection with your employment.                        b. Claims Excluded from Agreement to Arbitrate/Choice of Venue for Such            Claims: The agreement to arbitrate in Section 1(a) does not apply to claims for benefits under            state unemployment insurance or workers compensation programs. In addition, this Agreement            does not prohibit You from filing a claim or participating in an investigation, hearing or proceeding                                                  13  

 

                                                                                                 DocuSign  Envelope ID: BC1981F4-91B5-445B-AB18-CBAF6038EEB2             with a local, state or federal administrative agency, including the EEOC, the Department of Labor,            the National Labor Relations Board, the Massachusetts Commission Against Discrimination, the            California  Department  of  Fair  Employment  and  Housing,  the  New  York  City  Commission  on            Human  Rights,  the  New  York  State  Division  of  Human  Rights,  the  Washington  State  Human            Rights  Commission  and/or  any  other  federal  or  state  administrative  agency.  (However,  this            Agreement does preclude You from pursuing any such claim in court).               In  addition,  this  agreement  to  arbitrate  expressly  excludes  and  does  not  apply  to  claims  for            equitable  relief  or  declaratory  judgment  by  either  You  or  Sonos  arising  out  of:  (i)  the  non-            disclosure  or  assignment  of  inventions  provisions  set  forth  in  Sections  2  and  3  of  the  At  Will            Employment,  Confidential  Information,  and  Invention  Assignment  Agreement  (the  “Employee            Agreement”); (ii) state or federal trade secret laws; and/or (iii) state or federal intellectual property            laws. You understand and agree that violations of the non-disclosure or assignment of inventions            provisions of the Employee Agreement, state or federal trade secret laws and/or state or federal            intellectual property  laws  could  cause  irreparable  and  unique  injury  and  that  money  damages            would not provide an adequate remedy for such injury. Accordingly, You and Sonos agree that            the parties could not effectively pursue all available rights and remedies (including equitable relief)            for such claims in an arbitration proceeding and that such claims must therefore be excluded from            the  agreement  to arbitrate.  All  claims  excluded  from  arbitration  under  this  Section  shall  be            commenced and maintained in any state or federal court located within the state in which You are            employed by Sonos.               2.    No Class Actions or Arbitrations. You and Sonos agree that the arbitrator may only            hear the parties’ individual claims and will not have the authority: (i) to consolidate the claims of            other employees; (ii) to fashion a proceeding as a class or collective action; and/or (iii) to award            relief to a group or class of employees in one arbitration proceeding. In other words, You must            pursue all claims subject to arbitration as an individual and may not pursue such claims            as part of a class. You represent, agree, and acknowledge that You will be able to effectively            pursue your rights and any and all claims against Sonos in an individual arbitration according to            the terms of this Arbitration Agreement.               3.    Procedure, Deadline for Filing Of Claims Subject to Agreement to Arbitrate, Rules            of  Arbitration,  Confidentiality. You  and  Sonos  agree  that  arbitration  proceedings  shall  be            conducted by the American Arbitration Association (“AAA”) pursuant to the Federal Arbitration            Act,  and  in  accordance  with  the  Employment  Arbitration  Rules  and  Mediation  Procedures,            (available on-line at www.adr.org), which are incorporated herein by reference.               The parties agree that any and all claims subject to arbitration under this Agreement must be            initiated  with  the  AAA  within the  statute of  limitations  period  prescribed  for  such  claims under            applicable  law.  As  set  forth  in  Rule  4  of  the  Employment  Arbitration  Rules  and  Mediation            Procedures, a party may initiate arbitration by filing a Demand for Arbitration in writing with the            AAA.  If  You  file  such  a Demand,  please  also  send  a  copy  of  to  Sonos’  Legal  Department,            Attention: General Counsel. Alternatively, the parties may submit a joint request for arbitration in            writing. No demand for arbitration may be made after the date when the institution of legal or            equitable proceedings based on such claim or dispute would be barred by the applicable statute            of limitation.            The parties agree that a neutral arbitrator will be selected in accordance with the Employment            Arbitration Rules and Mediation Procedures and further agree that the arbitrator shall have the            power  to  decide  any  motions  brought  by  any  party  to  the  arbitration,  including  motions  for            summary judgment or motions to dismiss prior to any arbitration hearing. The parties also agree            that the arbitrator shall have the power to award any remedies, including attorney’s fees and costs,            available under applicable law. The parties agree that any decision of the arbitrator must be in                                                 14  

 

                                                                                                 DocuSign  Envelope ID: BC1981F4-91B5-445B-AB18-CBAF6038EEB2             writing. The arbitrator’s decision shall be final and binding on both You and Sonos and shall be            enforceable by any court having proper jurisdiction. The arbitrator shall maintain the confidentiality            of  the  arbitration  and  shall  have  the  authority  to  make  appropriate  rulings  to  safeguard  that            confidentiality unless the parties agree otherwise or the law provides to the contrary.               4.    Governing  Law/Location  of  Arbitration. This  Agreement  shall  be  governed  by  and            construed and interpreted in accordance with the Federal Arbitration Act, 9 U.S.C. §§ 1-16. You            and Sonos agree that any and all arbitrations between the parties compelled and contemplated            by this Agreement shall be held within the state in which You are employed by Sonos.               5.    Cost  of  Arbitration. The parties  agree  that  Sonos  shall  pay  for  any administrative  or            hearing fees and/or costs charged by the arbitrator or the AAA.               6.     Attorney’s Fees. You and Sonos each shall bear your own attorneys’ fees incurred in            connection with the arbitration, and the arbitrator will not have the authority to order attorneys’            fees unless an agreement between You and Sonos or a statute or law at issue in the dispute            authorizes the award of attorneys’ fees to the prevailing party, in which case the arbitrator shall            have the authority to make an award of attorneys’ fees as permitted under the applicable law or            agreement.               7.    Jury  Waiver. YOU  AND  SONOS  HEREBY  IRREVOCABLY  WAIVE  ANY  AND  ALL            RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING            IN ANY WAY TO YOUR EMPLOYMENT.               8.    Consideration to Support Agreement. You and Sonos agree that there is sufficient and            adequate consideration  to  support  your  mutual obligations under this  Agreement. Specifically,            You acknowledge that You are offered employment or continued employment in consideration of            your promise to arbitrate certain claims related to your employment as set forth in this Agreement.            In  addition, the  mutual promises of  Sonos  and You to  resolve  certain  claims  by arbitration  in            accordance  with  the  provisions  of  this  Arbitration  Agreement,  rather  than  through  the  courts,            provide consideration for this Agreement.               9.    Acknowledgment  of  Waiver  of  Rights. You  understand  and  acknowledge  that  by            signing  this  agreement,  you  are  waiving  the  following  rights:  (i)  your  right  to  pursue  class  or            collective action against Sonos in any forum, whether through the courts or through arbitration;            (ii) your right to a trial or hearing before a court of any and all present or future claims against            Sonos subject to arbitration under this arbitration agreement; and (iii) any right to trial by jury for            any and all present or future claims related to your employment.               10.   Voluntary  Agreement. You  represent  that  You  have  read  the  terms  of  the  foregoing            agreement, that  You  fully  understand  its  terms,  and  are  voluntarily  executing  the  same.  You            acknowledge  that  You  have  been  advised  to  consult  with  an  attorney  before  signing  this            agreement and that You have had a sufficient opportunity to do so.            11.   Complete  Agreement. This  Arbitration  Agreement  contains  the  complete  agreement            between  Sonos  and  You  regarding  the  subject  of  arbitration  and  dispute  resolution  and            supersedes  any  and  all  prior  written,  oral  or  other  types  of  representations  and  agreements            between Sonos and You, if any, related to the subject of dispute resolution of any kind, except for            the Employee Agreement.               12.   Severability. If any provision of this Agreement, or part thereof, is held invalid, void or            voidable as against public policy or otherwise, the invalidity shall not affect other provisions, or            parts thereof, which may be given effect without the invalid provision or part. To this extent, the                                                  15  

 

                                                                                                 DocuSign  Envelope ID: BC1981F4-91B5-445B-AB18-CBAF6038EEB2             provisions,  and  parts  thereof,  of  this  Arbitration  Agreement  are  declared  to  be  severable.            Moreover, if one or more of the provisions contained in this Arbitration Agreement shall for any            reason be held to be unenforceable at law, such provision or provisions shall be construed by the            appropriate judicial body by limiting, revising or reducing it or them, so as to be enforceable to the            maximum extent compatible with the applicable law as it shall then appear. The parties hereby            agree that the language of all parts of this Arbitration Agreement shall in all cases be construed            as a whole according to its fair meaning and not strictly for or against any of the parties.               13.   Modification. This  Arbitration  Agreement  may  be  modified  only  in  a  writing,  which            expressly refers to this Agreement and You by full name and which is signed by You and an            authorized representative of Sonos.               14.   Successors and Assigns. This Arbitration Agreement will be binding upon Your heirs,            executors, administrators and other legal representatives. Sonos shall have the right to assign            this  Arbitration  Agreement  to  its  successors  and  assigns  without  consent  by  You,  and  all            covenants and agreements hereunder shall ensure to the benefit of and are enforceable by said            successors and assigns. You do not have the right to assign this Arbitration Agreement.               You represent that you have read the foregoing Arbitration Agreement, fully understand            its  terms  and  conditions,  and  are  voluntarily  executing  the  same.  In  entering  into  this            Arbitration  Agreement,  you  did  not  rely  on  any  representation,  promise  or  inducement            made by Sonos with the exception of the terms and conditions set forth in this document.               Accepted and agreed:            Brittany Bagley                  EMPLOYEE SIGNATURE                                                                                                 o                                                                                                                           s        SIGNATUREMarch 29,  2019DATE |  10:04 AM PDT                                                                       ,                                                                                 S                                          I                                                                                o                                          n                                                                                n                                          c                                                                                                                                                                                                                                                                                                           Sonos, Inc.                                                                                                                                                                  Patrick Spence                                                                    Chief Executive Officer                                                   16  

 

                                                                                                 DocuSign  Envelope ID: BC1981F4-91B5-445B-AB18-CBAF6038EEB2                                       LIST OF PRIOR INVENTIONS                               AND ORIGINAL WORKS OF AUTHORSHIP                                                                                                                                                                         Title                                                                        Date                                                                  Identifying Number or Brief Description                                                                                                                                                                                                                                                                                                       ACCEPTED AND AGREED:                      Brittany Bagley                                                                                                        EMPLOYEE SIGNATURE                                 SIGNATURE DATEMarch  29,  2019 | 10:04  AM PDT                                                                                                                                                                          Sonos, Inc.                                                                                                                                                                             Patrick Spence                                                                           Chief Executive Officer                                                                                   17  

 

                                                                                                 DocuSign  Envelope ID: BC1981F4-91B5-445B-AB18-CBAF6038EEB2                                                Exhibit A                                   CALIFORNIA LABOR CODE SECTION 2870                       INVENTION ON OWN TIME-EXEMPTION FROM AGREEMENT                     (a)    Any provision in an employment agreement which provides that an employee            shall assign, or offer to assign, any of his or her rights in an invention to his or her employer            shall not apply to an invention that the employee developed entirely on his or her own time            without using the employer’s equipment, supplies, facilities, or trade secret information except            for those inventions that either:                           (1)   Relate at the time of conception or reduction to practice of the invention to            the employer’s business, or actual or demonstrably anticipated research or development of the            employer; or                           (2)    Result from any work performed by the employee for the employer.                     (b)   To the extent a provision in an employment agreement purports to require an            employee to assign an invention otherwise excluded from being required to be assigned under            subdivision (a), the provision is against the public policy of this state and is unenforceable.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           18  

 

                                                                                                 DocuSign  Envelope ID: BC1981F4-91B5-445B-AB18-CBAF6038EEB2                                          Relocation Agreement               This Relocation Agreement (the “Agreement”) is entered into on March 12, 2019            by and between Brittany Bagley and Sonos, Inc. (the “Company”).               WHEREAS, Employee has been offered employment by the Company in its Santa Barbara            office (the “Designated Office”);               WHEREAS, the Company has agreed to provide financial assistance to Employee with respect            to certain relocation expenses, subject to the terms of this Agreement and as set forth in the            attached Relocation Policy (the “Relocation Policy”);               WHEREAS, Employee acknowledges and agrees that he/she will repay the Company for the            relocation expenses paid by the Company if he/she terminates his/her employment with the            Company for any reason on or before the one-year anniversary of the date on which Employee            commences his/her employment with Sonos.               NOW THEREFORE, for good and valuable consideration, Employee and the Company agree            as follows:               2. Relocation Expenses. Subject to the terms and conditions set forth herein and provided            Employee executes and returns this Agreement to the People Department on or before the start            date of employment, the Company agrees to pay for certain fees, expenses, and costs which            are incurred by Employee in connection with his/her relocation up to, but not to exceed the            gross sum of the amount set forth in the offer letter presented to the Employee, in accordance            with the attached Relocation Policy (the “Relocation Expenses”).               3. Repayment Obligation Upon Resignation of Employment by Employee. Employee            acknowledges and agrees that, if Employee resigns his/her employment for any reason at any            time on or prior to the one year anniversary of the date Employee commences his/her            employment at the Designated Office, he/she will repay the Relocation Expenses paid by the            Company within 30 days of the resignation notice. Employee agrees that he/she shall pay all of            the payments owed under this Section in cash or by certified check on or before the date of            termination from employment.               4. Termination By The Company. If the Company terminates Employee’s at-will employment for            any reason, at any time on or prior to the one-year anniversary of the date Employee            commences his/her employment, the Employee will not be obligated to repay the Relocation            Expenses.               5. Authorization To Deduct From Wages. Employee further agrees that, if Employee fails to pay            the Company the full amount of the Relocation Expenses on or before his/her termination date            in accordance with his/her obligations hereunder, the Company is hereby authorized, to the            extent permitted by local law, to deduct all amounts owed to the Company under this Agreement            from any and all payments due to him/her by the Company at the time of termination, including            without limitation, any unreimbursed business expenses, accrued but unused vacation pay,            his/her final wages, earned commissions, and bonus payments. To this end, Employee agrees            to execute a form, to be prepared by the Company, authorizing the Company to withhold the            specific amount that is due.                                                                             19  

 

                                                                                                 DocuSign  Envelope ID: BC1981F4-91B5-445B-AB18-CBAF6038EEB2             6. Complete Agreement; Miscellaneous. This Agreement and the attached Relocation Policy,            which is incorporated herein by reference, set forth the complete agreement between Employee            and the Company with respect to the payment of any Relocation Expenses. Employee agrees            that each provision and the subparts of each provision in this Agreement shall be treated as a            separate and independent clause, and the unenforceability of any one clause shall in no way            impair the enforceability of any of the other clauses of this Agreement. In the event of any            dispute, this Agreement will be construed as a whole, will be interpreted in accordance with its            fair meaning, and will not be construed strictly for or against either Employee or the Company.            This Agreement may not be changed, amended, modified, altered or rescinded except upon the            express written consent of both Employee and an authorized Company officer. Any waiver of            any provision of this agreement by the Company shall not constitute a waiver of any other            provision of this Agreement unless the Company expressly so indicates otherwise.               7. No Modification of At-Will Relationship. Employee and the Company agree that this            Agreement does not in any way modify or limit the at-will nature of his/her employment by the            Company. Nothing in this Agreement should be taken as a guarantee of continued employment,            a specific term of employment and/or a contract of employment and at all times Employee will            be expected to meet the Company’s performance standards. Nothing in this Agreement should            be construed to be a guarantee of continued employment for one year.               8. Legal Fees. Should the Company prevail in any action against Employee to enforce the terms            of this Agreement, Employee acknowledges and agrees that he/she shall be responsible for the            payment of the Company’s legal fees and costs, including reasonable attorney’s fees.               9. Consent. Employee represents that he/she has read the foregoing Agreement, that            he/she fully understands the terms and conditions of the Agreement and is voluntarily            executing the same.               IN WITNESS WHEREOF, the undersigned has executed this Agreement as a sealed instrument            as of the date written below               ACCEPTED AND AGREED:               Brittany Bagley                                              EMPLOYEE SIGNATURE                  SIGNATUREMarch 29, DATE 2019  | 10:04 AM PDT                                                                                                         Sonos, Inc.                                                                                                                                                                     Patrick Spence                                                                      Chief Executive Officer                                                 20  

 

                                                                                                                                                                DocuSign   Envelope ID: BC1981F4-91B5-445B-AB18-CBAF6038EEB2                                                                                      21Exhibit

NOTICE OF RESTRICTED STOCK UNIT AWARD 
(SECTION 16 OFFICERS)
SONOS, INC.
2018 EQUITY INCENTIVE PLAN
GRANT NUMBER:          
Unless otherwise defined herein, the terms defined in the Sonos, Inc. (the “Company”), 2018 Equity Incentive Plan (the “Plan”) shall have the same meanings in this Notice of Restricted Stock Unit Award (the “Notice”) and the attached Award Agreement, including the International Supplement attached hereto (the “Supplement”), which is generally applicable to you if you live or work outside the United States, and any special terms and conditions for your country set forth therein (collectively, the “RSU Agreement”).  You (“you”) have been granted an award of Restricted Stock Units (“RSUs”) under the Plan subject to the terms and conditions of the Plan, this Notice and the attached RSU Agreement.
Name:        
Address:        
Number of RSUs:        
Date of Grant:        
Vesting Commencement Date:        
		
	Expiration Date:
	The earlier to occur of: (a) the settlement of all vested RSUs granted hereunder and (b) the tenth anniversary of the Date of Grant.  The RSUs expire earlier if your Service terminates earlier, as described in the RSU Agreement.

Vesting Dates:    
Vesting Schedule:    
		
	Vesting Acceleration:
	[Notwithstanding the foregoing and anything contrary in the RSU Agreement or the Plan, if your Service is terminated by the Company or a successor corporation as a result of an Involuntary Termination (as defined below) within the period of time commencing two months prior to a Corporate Transaction (as defined below) and ending 12 months following a Corporate Transaction, you shall also fully vest in the Accelerated RSUs (as defined below).

“Involuntary Termination” means, without your express written consent, any of the following: (a) your resignation following (i) a significant reduction of your duties, position or responsibilities relative to your duties, position or responsibilities in effect immediately prior to such reduction; (ii) a material reduction by the Company of your base salary, as in effect immediately prior to such reduction; and/or (iii) your relocation by the Company to a facility or a location more than fifty (50) miles from your current location; or (b) any termination of your Service by the Company other than for Cause (as defined below); in either of the foregoing cases, provided that such resignation or termination constitutes a “separation from service” within the meaning of Section 409A of the Code and the Treasury regulations promulgated thereunder.
“Cause” means any of the following: (i) any act of personal dishonesty, taken by you in connection with your responsibilities as a service provider of the Company, which is intended to result in your personal enrichment, (ii) your conviction of, or plea of nolo contendere to, a felony, (iii) any act by you that constitutes material misconduct and is injurious to the Company, or (iv) continued violations by you of your obligations to the Company.
“Accelerated RSUs” means 100% of the then-unvested RSUs.
Notwithstanding anything contrary in the RSU Agreement or the Plan, if you are subject to an Involuntary Termination prior to a Corporate Transaction, your then-unvested RSUs shall remain outstanding for two months but shall not continue vesting following such Involuntary Termination to the minimum extent necessary to permit the vesting acceleration described above.]
This Grant Notice may be executed and delivered electronically, whether via the Company’s intranet or the Internet site of a third party or via email or any other means of electronic delivery specified by the Company.  You acknowledge that the vesting of the RSUs pursuant to this Notice is earned only by continuing Service, but you understand that your employment or consulting relationship with the Company or a Parent, Subsidiary or Affiliate is for an unspecified duration, can be terminated at any time, and that nothing in this Notice of Grant, the RSU Agreement or the Plan changes the nature of that relationship.  By accepting this award, you and the Company agree that this award is granted under and governed by the terms and conditions of the Plan, this Notice and the RSU Agreement.  By accepting this award of RSUs, you consent to the electronic delivery and acceptance as further set forth in the RSU Agreement.

RESTRICTED STOCK UNIT AGREEMENT
SONOS, INC.
2018 EQUITY INCENTIVE PLAN

You have been granted Restricted Stock Units (“RSUs”) by Sonos, Inc. (the “Company”), subject to the terms, restrictions and conditions of the Plan, the Notice of Restricted Stock Unit Award (the “Notice”) and this Restricted Stock Unit Agreement, including the Supplement, which is generally applicable to you if you live or work outside the United States, and any special terms and conditions for your country set forth therein (collectively, this “RSU Agreement”).
1.Nature of Grant.  In accepting this award of RSUs, you acknowledge, understand and agree that:
(a)the Plan is established voluntarily by the Company, it is discretionary in nature and it may be modified, amended, suspended or terminated by the Company at any time, to the extent permitted by the Plan;
(b)the grant of the RSUs is voluntary and occasional and does not create any contractual or other right to receive future awards of RSUs, or benefits in lieu of RSUs, even if RSUs have been granted in the past; 
(c)all decisions with respect to future RSUs or other grants, if any, will be at the sole discretion of the Company; 
(d)you are voluntarily participating in the Plan; 
(e)the RSUs and the Shares subject to the RSUs, and the income and value of same, are not intended to replace any pension rights or compensation; 
(f)the RSUs and the Shares subject to the RSUs, and the income and value of same, are not part of normal or expected compensation for purposes of calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments; 
(g)unless otherwise agreed with the Company, the RSUs and any Shares acquired under the Plan, and the income and value of same, are not granted as consideration for, or in connection with, any service you may provide as a director of the Company, or a Parent or Subsidiary of the Company;
(h)the future value of the underlying Shares is unknown, indeterminable and cannot be predicted with certainty; 
(i)no claim or entitlement to compensation or damages shall arise from forfeiture of the RSUs resulting from the termination of your Service (for any reason whatsoever whether or not later found to be invalid or in breach of labor laws in the jurisdiction where you are providing Service or the terms of your employment or service agreement, if any), and in consideration of the grant of the RSUs to which you are otherwise not entitled, you irrevocably agree never to institute any claim against the Company, the Employer (as defined below), or any other Parent or Subsidiary of the Company, waive your ability, if any, to bring any such claim, and release the Company, the Employer and its Parent or Subsidiaries from any such claim; if, notwithstanding the foregoing, any such claim is allowed by a court of competent jurisdiction, then, by participating in the Plan, you shall be deemed irrevocably to have agreed not to pursue such claim and agree to execute any and all documents necessary to request dismissal or withdrawal of such claim; and
(j)the following provisions apply only if you are providing Service outside the United States: 
(i)    the RSUs and the Shares subject to the RSUs, and the income and value of same, are not part of normal or expected compensation or salary for any purpose; and
(ii)    neither the Company, the Employer nor any Parent or Subsidiary of the Company shall be liable for any foreign exchange rate fluctuation between your local currency and the United States Dollar that may affect the value of the RSUs or the subsequent sale of any Shares acquired upon settlement.
2.    Settlement.  Settlement of RSUs shall be made, in any case, on or before March 15 of the calendar year following the calendar year of the applicable date of vesting under the vesting schedule set forth in the Notice.  Settlement of RSUs shall be in Shares.  Settlement means the delivery to you of the Shares vested under the RSUs.  Fractional Shares will not be issued.
3.    No Stockholder Rights.  Unless and until such time as Shares are issued in settlement of vested RSUs, you shall have no ownership of the Shares allocated to the RSUs and shall have no right to dividends or to vote such Shares.
4.    Dividend Equivalents.  Dividend equivalents, if any, shall not be credited to you, except as otherwise permitted by the Committee.
5.    No Transfer.  RSUs may not be sold, assigned, transferred, pledged, hypothecated, or otherwise disposed of in any manner other than by will or by the laws of descent or distribution or court order or unless otherwise permitted by the Committee on a case-by-case basis.  
6.    Termination.  If your Service terminates for any reason, all unvested RSUs shall be forfeited to the Company forthwith, and all rights you have to such RSUs shall immediately terminate, without payment of any consideration to you.  For purposes of this award of RSUs, your Service will be considered terminated as of the date you are no longer providing Service (regardless of the reason for such termination and whether or not later found to be invalid or in breach of labor laws in the jurisdiction where you are employed or the terms of your employment or service agreement, if any) and will not be extended by any notice period mandated under local employment laws (e.g., Service would not include a period of “garden leave” or similar period).  In case of any dispute as to whether your termination of Service has occurred, the Committee shall have sole discretion to determine whether such termination has occurred (including whether you may still be considered to be providing Services while on a leave of absence) and the effective date of such termination.
7.    Tax Consequences.  You acknowledge that there will be certain consequences with regard to income tax, national or social insurance contributions, payroll tax, fringe benefits tax, payment on account or other tax-related items (“Tax-Related Items”) upon settlement of the RSUs or disposition of the Shares, if any, received in connection therewith, and you should consult a tax adviser regarding your tax obligations prior to such settlement or disposition in the jurisdiction where you are subject to tax. 
8.    Responsibility for Taxes.  Regardless of any action the Company or, if different, your actual employer (the “Employer”) takes with respect to any or all Tax-Related Items withholding or required deductions, you acknowledge that the ultimate liability for all Tax-Related Items legally due by you is and remains your responsibility and that the Company and/or the Employer (1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the award, including the grant, vesting or settlement of the RSUs, the subsequent sale of Shares acquired pursuant to such settlement and the receipt of any dividends; and (2) do not commit to structure the terms of the award or any aspect of the RSUs to reduce or eliminate your liability for Tax-Related Items or achieve any particular tax result.  You acknowledge that if you are subject to Tax-Related Items in more than one jurisdiction, the Company and/or the Employer may be required to withhold or account for Tax-Related Items in more than one jurisdiction.
You acknowledge that the Company’s obligation to issue or deliver Shares shall be subject to your satisfaction of all Company and/or Employer withholding obligations for Tax-Related Items that arise as a result of this Award and the vesting and/or settlement of the RSUs that are subject to this Award. In this regard, you authorize the Company and/or the Employer, and their respective agents, to withhold Shares that otherwise would be issued to you upon settlement of the RSUs to satisfy the Company and/or the Employer’s tax withholding obligations. You acknowledge that you will not receive a refund in cash or Shares from the Company and/or the Employer with respect to any withheld Shares, whose value exceeds the Company and/or the Employer’s withholding obligations for Tax-Related Items, and that the Company and/or the Employer will include such excess amount in the taxes that the Company will pay to the applicable tax authorities on your behalf. You must pay to the Company and/or the Employer any amount of the Tax-Related Items that the Company and/or the Employer may be required to withhold that cannot be satisfied through share withholding. For tax purposes, you are deemed to have been issued the full number of Shares subject to the vested RSUs, notwithstanding that a number of the Shares are held back solely for the purpose of paying the Tax-Related Items. You acknowledge that the Company has no obligation to deliver Shares to you until you have satisfied the obligations in connection with the Tax-Related Items as described in this Section 8.
9.    Acknowledgement.  The Company and you agree that the RSUs are granted under and governed by the Notice, this RSU Agreement and the provisions of the Plan.  You: (i) acknowledge receipt of a copy of the Plan prospectus, (ii) represent that you have carefully read and are familiar with the provisions in the grant documents, and (iii) hereby accept the RSUs subject to all of the terms and conditions set forth in this RSU Agreement and those set forth in the Notice.  You hereby agree to accept as binding, conclusive and final all decisions or interpretations of the Committee upon any questions relating to the Plan, the Notice and this RSU Agreement.
10.    Entire Agreement; Enforcement of Rights.  This RSU Agreement, the Plan and the Notice constitute the entire agreement and understanding of the parties relating to the subject matter herein and supersede all prior discussions between them. Any prior agreements, commitments or negotiations concerning the purchase of the Shares hereunder are superseded. No modification of or amendment to this RSU Agreement, nor any waiver of any rights under this RSU Agreement, shall be effective unless in writing and signed by the parties to this RSU Agreement.  The failure by either party to enforce any rights under this RSU Agreement shall not be construed as a waiver of any rights of such party.
11.    Compliance with Laws and Regulations.  The issuance of Shares will be subject to and conditioned upon compliance by the Company and you with all applicable state, federal and foreign laws and regulations and with all applicable requirements of any stock exchange or automated quotation system on which the Company’s Common Stock may be listed or quoted at the time of such issuance or transfer, which compliance the Company shall, in its absolute discretion, deem necessary or advisable.  You understand that the Company is under no obligation to register or qualify the Common Stock with any state, federal or foreign securities commission or to seek approval or clearance from any governmental authority for the issuance or sale of the Shares.  Further, you agree that the Company shall have unilateral authority to amend the Plan and this RSU Agreement without your consent to the extent necessary to comply with securities or other laws applicable to issuance of Shares.  Finally, the Shares issued pursuant to this RSU Agreement shall be endorsed with appropriate legends, if any, determined by the Company.
12.    No Advice Regarding Grant.  The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding your participation in the Plan, or your acquisition or sale of the underlying Shares.  You are hereby advised to consult with your own personal tax, legal and financial advisors regarding your participation in the Plan before taking any action related to the Plan.
13.    Governing Law; Venue.  This RSU Agreement, all acts and transactions pursuant hereto and the rights and obligations of the parties hereto shall be governed, construed and interpreted in accordance with the laws of the State of Delaware, without giving effect to principles of conflicts of law.  For purposes of litigating any dispute that may arise directly or indirectly from the Plan, the Notice and this RSU Agreement, the parties hereby submit and consent to litigation in the exclusive jurisdiction of the State of California and agree that any such litigation shall be conducted only in the courts of California in Santa Barbara County, California, or the federal courts of the United States for the Southern District of California and no other courts.
14.    Severability.  If one or more provisions of this RSU Agreement are held to be unenforceable under applicable law, the parties agree to renegotiate such provision in good faith. In the event that the parties cannot reach a mutually agreeable and enforceable replacement for such provision, then (i) such provision shall be excluded from this RSU Agreement, (ii) the balance of this RSU Agreement shall be interpreted as if such provision were so excluded and (iii) the balance of this RSU Agreement shall be enforceable in accordance with its terms.
15.    No Rights as Employee, Director or Consultant.  Nothing in this RSU Agreement shall affect in any manner whatsoever the right or power of the Company, or a Parent or Subsidiary of the Company, to terminate your Service, for any reason, with or without Cause.
16.    Consent to Electronic Delivery and Acceptance of All Plan Documents and Disclosures.  By your acceptance of this award of RSUs, you consent to the electronic delivery of the Notice, this RSU Agreement, the Plan, account statements, Plan prospectuses required by the SEC, U.S. financial reports of the Company, and all other documents that the Company is required to deliver to its stockholders (including, without limitation, annual reports and proxy statements) or other communications or information related to the RSUs. Electronic delivery may include the delivery of a link to a Company intranet or the internet site of a third party involved in administering the Plan, the delivery of the document via e-mail or such other delivery determined at the Company’s discretion. You acknowledge that you may receive from the Company a paper copy of any documents delivered electronically at no cost if you contact the Company by telephone, through a postal service or electronic mail at sonos-stockadmin@sonos.com.  You further acknowledge that you will be provided with a paper copy of any documents delivered electronically if electronic delivery fails; similarly, you understand that you must provide on request to the Company or any designated third party a paper copy of any documents delivered electronically if electronic delivery fails. You agree to participate in the Plan through an on-line or electronic system established and maintained by the Company or a third party designated by the Company. Also, you understand that your consent may be revoked or changed, including any change in the electronic mail address to which documents are delivered (if you have provided an electronic mail address), at any time by notifying the Company of such revised or revoked consent by telephone, postal service or electronic mail at sonos-stockadmin@sonos.com. Finally, you understand that you are not required to consent to electronic delivery.
17.    Insider Trading Restrictions/Market Abuse Laws.  You acknowledge that, depending on your country, you may be subject to insider trading restrictions and/or market abuse laws, which may affect your ability to acquire or sell the Shares or rights to Shares under the Plan during such times as you are considered to have “inside information” regarding the Company (as defined by the laws in your country).  Any restrictions under these laws or regulations are separate from and in addition to any restrictions that may be imposed under any applicable Company insider trading policy. You acknowledge that it is your responsibility to comply with any applicable restrictions, and you are advised to speak to your personal advisor on this matter.
18.    Language.  If you have received this RSU Agreement or any other document related to the Plan translated into a language other than English and if the meaning of the translated version is different than the English version, the English version will control.
19.    International Supplement. Notwithstanding any provisions in this RSU Agreement, this award of RSUs shall be subject to the Supplement if you live or work outside the United States, including any special terms and conditions set forth therein for your country.  Moreover, if you relocate to a country other than the United States, then the Supplement, including the special terms and conditions for such country will, apply to you to the extent the Company determines that the application of such terms and conditions is necessary or advisable for legal or administrative reasons. The Supplement constitutes part of this RSU Agreement. 
20.    Imposition of Other Requirements.  The Company reserves the right to impose other requirements on your participation in the Plan, on the RSUs and on any Shares acquired under the Plan, to the extent the Company determines it is necessary or advisable for legal or administrative reasons, and to require you to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing.
21.    Waiver.  You acknowledge that a waiver by the Company of breach of any provision of this RSU Agreement shall not operate or be construed as a waiver of any other provision of this RSU Agreement, or of any subsequent breach by you or any other Participant.
22.    Code Section 409A.  For purposes of this RSU Agreement, a termination of employment will be determined consistent with the rules relating to a “separation from service” as defined in Section 409A of the Code and the regulations thereunder (“Section 409A”).  Notwithstanding anything else provided herein, to the extent any payments provided under this RSU Agreement in connection with your termination of employment constitute deferred compensation subject to Section 409A, and you are deemed at the time of such termination of employment to be a “specified employee” under Section 409A, then such payment shall not be made or commence until the earlier of (i) the expiration of the six-month period measured from your separation from service from the Company or (ii) the date of your death following such a separation from service; provided, however, that such deferral shall only be effected to the extent required to avoid adverse tax treatment to you including, without limitation, the additional tax for which you would otherwise be liable under Section 409A(a)(1)(B) in the absence of such a deferral.  To the extent any payment under this RSU Agreement may be classified as a “short-term deferral” within the meaning of Section 409A, such payment shall be deemed a short-term deferral, even if it may also qualify for an exemption from Section 409A under another provision of Section 409A.  Payments pursuant to this section are intended to constitute separate payments for purposes of Section 1.409A-2(b)(2) of the Treasury Regulations.
23.    Award Subject to Company Clawback or Recoupment.  To the extent permitted by applicable law, the RSUs shall be subject to clawback or recoupment pursuant to any clawback or recoupment policy adopted by the Board or required by law during the term of your employment or other Service that is applicable to you.  In addition to any other remedies available under such policy, applicable law may require the cancellation of your RSUs (whether vested or unvested) and the recoupment of any gains realized with respect to your RSUs.
BY ACCEPTING THIS RESTRICTED STOCK UNIT AWARD, YOU AGREE TO ALL OF THE TERMS AND CONDITIONS DESCRIBED ABOVE AND IN THE PLAN.

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