Document:

Offer Letter between the Registrant and Anders Norstrom

 Exhibit 10.10 
 [LOGO] 
 Internal Memo 

 

			
	Date:	 	May 26, 2009
		
	To:	 	Anders Norstrom
		
	From:	 	Lynda Ward Pierce, Vice President, Human Resources
		
	cc:	 	Charlie Nooney, Chief Executive Officer
	
	Subject:     Internal Promotion

  
  

On behalf of MobiTV, Inc. (the “Company”), I am pleased to extend you an offer of promotion within the Company. We look forward
to your continued success and hope you find your new role to be both challenging and rewarding. 
 The terms of your new position are as set
forth below: 
 1. Position and Start Date. You will be promoted to serve as Chief Operating Officer, reporting to
the Chief Executive Officer. You will be working out of the Emeryville, California office and your promotion is effective                      or as
soon as practicable, pending authorization to work in the United States. 
 2. Compensation. 

(a) Base Salary. You will be paid a monthly salary of $20,416.67 (the equivalent of $245,000 if annualized), subject to
applicable withholdings. Your salary will be payable in equal semi-monthly installments pursuant to the Company’s regular payroll policy. 
 (b) Incentive Bonus. You will be eligible to participate in the Company’s Executive Incentive Compensation plan program. The bonus plan is discretionary and bonuses are paid at the sole
discretion of management and the Board of Directors. The funding of the plan is based on the Company’s achievement of targeted levels of success and financial performance. Any award paid is also based on your individual performance as
determined by your manager. You must be an active employee in good standing on the day that bonuses are paid in order to be eligible for a bonus. Because your bonus target, salary, and incentive plan changed during this fiscal year, your year-end
target bonus is pro-rated accordingly. 
 (c) Stock Options. As an added incentive, subject to approval by the
Compensation Committee of the Company’s Board of Directors, you will be granted an option to purchase shares of the Company’s common stock pursuant to the Company’s Equity Incentive Plan (the “Plan”). This grant shall be an
incentive stock option to the extent permitted by law. Under current IRS regulations, to the extent the option’s cumulative price exceeds $100,000 in a calendar year that portion of the grant will be a nonqualified option. The options will be
granted at an exercise price equal to the fair market value of the stock on the date of the grant and will vest monthly at the rate of 1/48th of the total grant. Vesting will, of course, depend on your continued employment with the Company.

 3. Change in Control. In addition, if a Corporate Transaction (as defined below) occurs and, in connection with
such Corporate Transaction or within twelve (12) months following such Corporate Transaction, (i) you are terminated by MobiTV without Cause (as defined below) or (ii) there is a Constructive Termination (as defined below) and you
terminate your employment with MobiTV within six (6) months 

 
following such Constructive Termination, then one-hundred percent (100%) of the then remaining unvested shares subject to the option set forth in Section 2(c) above will immediately
vest. 
 A “Corporate Transaction” means the occurrence of any of the following events: (i) any sale or
exchange of the capital stock by the stockholders of MobiTV in one transaction or series of related transactions where more than 50% of the outstanding voting power of MobiTV is acquired by a person or entity or group of related persons or entities;
or (ii) any reorganization, consolidation or merger of MobiTV where the outstanding voting securities of MobiTV immediately before the transaction represent or are converted into less than fifty percent 50% of the outstanding voting power of
the surviving entity (or its parent corporation) immediately after the transaction; or (iii) the consummation of any transaction or series of related transactions that results in the sale of all or substantially all of the assets of MobiTV.

 A termination for “Cause” will exist at any time after the happening of one or more of the following events:
(i) willful misconduct in the performance of your duties to MobiTV where such willful misconduct is materially and demonstrably injurious to MobiTV; (ii) commission of any act of fraud with respect to MobiTV; (iii) your conviction of
a felony involving moral turpitude that is reasonably likely to cause material harm to the standing or reputation of MobiTV; (iv) material and willful failure to follow the lawful written directions of the MobiTV’s Board of Directors or
Chief Executive Officer, provided such failure has not been cured within 30 days following a written notice from the Board of Directors of MobiTV; or (v) material violation of MobiTV’s Code of Business Conduct and Ethics. 

A “Constructive Termination” means the occurrence of any of the following events: (i) any reduction in your base
salary or material reduction in benefits, in each case not agreed to by you (other than in connection with a general decrease in base salaries for most similarly situated employees); (ii) a material reduction in your job duties and
responsibilities, not agreed to by you, that is inconsistent with your prior duties and responsibilities; or (iii) a requirement that you relocate to an office outside of the San Francisco Bay Area. 

4. Benefits. You will be eligible to receive our standard United States Company benefits package (i.e., medical, dental,
and vision insurance benefits) in accordance with the terms of all such benefit programs. 
 5. Vacation. You will
be entitled to receive the standard number of United States vacation days as outlined in the Company’s vacation policy. Vacation days and floating holidays shall be accrued and carried over in accordance with the Company’s
United States vacation policy. 
 6. Relocation Allowance. MobiTV will provide you with a reasonable
relocation allowance as determined by MobiTV to assist with your relocation to the San Francisco Bay Area (the “Relocation Allowance”). Amounts received by you or paid to a third party on your behalf in connection with such Relocation
Allowance will be reported as taxable income to you in the year received as required by applicable tax law. As part of your relocation package, MobiTV will gross-up amounts expensed against the Relocation Allowance to cover the applicable taxes
thereon. The Relocation Allowance is conditional upon, and is not earned until, you have satisfactorily completed twelve (12) months of employment with the Company. In the event that you terminate your employment with the Company for any reason
other than through no fault of your own prior to the date that is twelve (12) months after the date that your employment in the United States commences, you agree to repay the Company one hundred percent (100%) of any expenses reimbursed
against the Relocation Allowance by personal check or other negotiable instrument within thirty (30) days following your termination date. By signing below, you further authorize the Company to deduct and withhold from your final paycheck or
other earned compensation a reasonable installment amount of the unearned Relocation Allowance. 

  
 2 

 7. Confidential Information and Invention Assignment Agreement. In accordance
with standard Company policy, this offer is contingent upon you completing and executing the enclosed Confidential Information and Invention Assignment Agreement prior to or on the start date of your new role. 

8. At-Will Employment. We hope that you continue to have a rewarding employment relationship with the Company. At the same
time, you are not being promised any particular term of employment. You understand that your employment is at-will and you are not being offered continued employment for a definitive period of time. Either you or the Company may terminate the
employment relationship at any time for any reason or no reason, without further obligation or liability. In addition, the Company may, in its sole discretion, modify, revoke, suspend or terminate any of the terms, plans, policies and/or procedures
described herein or otherwise communicated to you, in whole or in part, at any time, with or without notice except for the policy of at-will employment. Any such changes to your at-will status must be in writing and must be signed by the Chief
Executive Officer of MobiTV. 
 This letter, together with the Confidential Information and Invention Assignment Agreement, set
forth the terms of your continued employment with the Company and supersede any prior representations, agreements, discussions, or offers between the parties, whether written or oral. Additionally, this offer is contingent upon successful completion
of the background check and obtaining authorization to work in the United States. To indicate your acceptance of this offer, please sign and date this letter in the space provided below and return it, along with a signed and dated copy of the
Confidential Information and Invention Assignment Agreement no later than close of business on June 4, 2009. 
 We
believe that you will continue to make a significant contribution and support us in this exciting venture. If you have any questions, please do not hesitate to contact your manager, Penny DeFrank or me. 

 

	
	Sincerely,
	
	/s/ Lynda Ward Pierce
	Lynda Ward Pierce
	Vice President, Human Resources

 By my execution of this letter, I accept the offer as outlined (and all of the terms and conditions) above. 

 

			
	Signature:	 	 /s/ ANDERS NORSTRÖM

		
	Print Name:	 	 Anders Norström

		
	Date:	 	 20090611

  

	
	After signing the letter and completing the information above, please return a copy of the letter and
acceptance to Linda Burton in the Human Resources Department, along with the complete, signed Confidential Information and Invention Assignment Agreement. Please keep copies for your records.

  
 3 

 [LOGO] 
 May 21, 2009 
 Dear Anders: 
 Thank you for your continued contribution to MobiTV. It is the dedication and support of MobiTV team members that ensures our continued success. By working together, we can achieve our goals now and in
the future. 
 We are pleased to present your projected Total Compensation Statement. 

 

			
	 Effective Date:

Job Title:
 Annualized Base Pay:
 Target Bonus %1 :

# of Options Granted2 :
	 	 July 1, 2009
 Chief
Operating Officer
 $245,000

40%
 575,000

 We suggest that you keep your statement in a secure location for future reference. Once again, thank you for being a part
of the MobiTV team. Please contact Human Resources if you have any questions. 
 Best Wishes, 

/s/ LYNDA WARD PIERCE 
 Lynda Ward Pierce

 Vice President, Human Resources 
  

	1 	 The bonus plan is discretionary and bonuses are paid at the sole discretion of management and the Board of Directors. The funding of the plan is based
on the Company’s achievement of targeted levels of success and financial performance. Any award paid is also based on your individual performance as determined by your manager. Your year-end target bonus is pro-rated based on any change to your
bonus plan, bonus target or salary during the fiscal year. 

	2 	 Subject to approval by the Compensation Committee of the Company’s Board of Directors, you will be granted an option to purchase shares of the
Company’s common stock pursuant to the Company’s Equity Incentive Plan.Offer Letter between the Registrant and Richard C. Herman

 Exhibit 10.11 
 April 27, 2010 
 Richard C. Herman 
 [OMITTED] 
 [OMITTED] 
 Dear Richard: 
 Congratulations! On behalf of MobiTV, (the “Company”), I
am pleased to extend you an offer of employment. MobiTV is an exciting place to be and we are delighted to have you join the team. We look forward to your future success in this position and hope you find your new role both challenging and
rewarding. 
 The terms of your new position with the Company arc as set forth below: 

1. Position and Start Date. You will initially serve as the Company’s Senior Vice President of
Business & Corporate Development, reporting to the CEO. You will be working out of the Emeryville, California office. Your anticipated start date is May 24, 2010. 

2. Compensation. 
 (a) Base Salary. You will be paid a monthly salary of $19,166.67 (the equivalent of $230,000 if annualized), subject to applicable withholdings. Your salary will be payable in equal
semi-monthly installments pursuant to the Company’s regular payroll policy. 
 (b) Incentive Bonus. You will
be eligible to participate in the Company’s bonus program. The bonus plan is discretionary and bonuses arc paid at the sole discretion of management and the Board of Directors. The funding of the plan is based on the Company’s achievement
of targeted levels of success and financial performance. This award is also based on your individual performance as determined by your manager. You must be employed through March 1 following the close of the prior fiscal year (i.e. the day that
bonuses are calculated) in order to be eligible for a bonus. For your first calendar year your target bonus will be pro-rated to your start date. Employees who commence work after September 30 are not eligible for a bonus for that calendar
year. 
 (c) Stock Options. As an added incentive, subject to approval by the Compensation Committee of the
Company’s Board of Directors, you will he granted an option to purchase 300,000 shares of the Company’s common stock pursuant to the Company’s Equity Incentive Plan (the “Plan”). This grant shall be an incentive stock option
to the extent permitted by law. Under current IRS regulations, to the extent the option’s cumulative price exceeds $100,000 in a calendar year that portion of the grant will be a nonqualified option. The options will be granted at an exercise
price equal to the fair market value of the stock on the date of the grant and will vest 25% at the end of the first full, continuous year of employment with monthly vesting thereafter at the rate of 1/48th of the total grant. Vesting will, of
course, depend on your continued employment with the Company. 
 (c) Relocation Bonus. MobiTV will pay you a bonus
to reimburse you for your relocation to the San Francisco Bay Area as follows: a one-time gross payment of $15,000 to he paid with your first practicable payroll check (the “Relocation Bonus”), subject to applicable salary withholdings and
following the completion of all new hire paperwork. This Relocation Bonus will be reported as taxable income to you in the year received as required by applicable tax law. The Relocation Bonus is conditional upon, and is not earned until, you have
satisfactorily completed twelve (12) months of employment with the Company. In the event that you terminate your employment with the Company for any reason other than through no fault of your own prior to the date that is twelve
(12) months after the date that your employment commences, you agree to 

 
repay the Company one hundred percent (100%) of the Relocation Bonus by personal check or other negotiable instrument within thirty (30) calendar days following your termination date.
By signing below, you further authorize the Company to deduct and withhold from your final paycheck or other earned compensation a reasonable installment amount of the unearned Relocation Bonus. 

3. Change in Control. In addition, if a Corporate Transaction (as defined below) occurs and, in connection with such
Corporate Transaction or within twelve (12) months following such Corporate Transaction, (i) you are terminated by MobiTV without Cause (as defined below) or (ii) there is a Constructive Termination (as defined below) and you
terminate your employment with MobiTV within six (6) months following such Constructive Termination, then one-hundred percent (100%) of the then remaining unvested shares subject to the option set forth in Section 2(c) above will
immediately vest. 
 A “Corporate Transaction” means the occurrence of any of the following events:
(i) any sale or exchange of the capital stock by the stockholders of MobiTV in one transaction or series of related transactions where more than 50% of the outstanding voting power of MobiTV is acquired by a person or entity or group of related
persons or entities; or (ii) any reorganization, consolidation or merger of MobiTV where the outstanding voting securities of MobiTV immediately before the transaction represent or are converted into less than fifty percent 50% of the
outstanding voting power of the surviving entity (or its parent corporation) immediately after the transaction; or (iii) the consummation of any transaction or series of related transactions that results in the sale of all or substantially all
of the assets of MobiTV. 
 A termination for “Cause” will exist at any time after the happening of one or more
of the following events: (i) willful misconduct in the performance of your duties to MobiTV where such willful misconduct is materially and demonstrably injurious to MobiTV; (ii) commission of any act of fraud with respect to MobiTV;
(iii) your conviction of a felony involving moral turpitude that is reasonably likely to cause material harm to the standing or reputation of MobiTV; (iv) material and willful failure to follow the lawful written directions of
MobiTV’s Board of Directors or Chief Executive Officer, provided such failure has not been cured within 30 days following a written notice from the Board of Directors of MobiTV; or (v) material violation of MobiTV’s Code of Business
Conduct and Ethics. 
 A “Constructive Termination” means the occurrence of any of the following events:
(i) any reduction in your base salary or material reduction in benefits, in each case not agreed to by you (other than in connection with a general decrease in base salaries for most similarly situated employees); (ii) a material reduction
in your job duties and responsibilities, not agreed to by you, that is inconsistent with your prior duties and responsibilities; or (iii) a requirement that you relocate to an office outside of the San Francisco Bay Area. 

4. Benefits. You will be eligible to receive standard Company benefits (e.g., medical, dental, and vision insurance
benefits) in accordance with the terms of all such benefit programs. 
 5. Vacation. You will be entitled
to receive the standard number of vacation days as outlined in the Company’s vacation policy. Vacation days and floating holidays shall be accrued and carried over in accordance with the Company’s vacation policy. 

6. Confidential Information and Invention Assignment Agreement. The Company is extending you this offer based upon
your general skills and abilities and not your possession of any proprietary information belonging to your current or former employers. In accordance with standard Company policy, this offer is contingent upon you completing and executing the
enclosed Confidential Information and Invention Assignment Agreement prior to or on your start date. Should you decide to accept this offer, as set forth in such Agreement, the Company requires that you not disclose any proprietary information or
bring any materials belonging to any current or former employer. Further, you represent and warrant to the Company that you are not bound by any obligation or restriction, including any covenant not to compete, that would prevent you from performing
your expected job duties at the Company. 
 7. Immigration Reform and Control Act. Under the terms of the
Immigration Reform and Control Act, you are subject to the Act’s provisions. In order to comply, you must be a citizen of the United 

  
 2 

 
States of America or have the authorization to work in the United States. In either case, we require verification within three business days of your date of hire. Please bring the appropriate
documentation with you on your first day. 
 8. At-Will Employment. We hope that you will have a rewarding
employment relationship with the Company. At the same time, you are not being promised any particular term of employment. You understand that your employment is at-will and you are not being offered continued employment for a definitive period of
time. Either you or the Company may terminate the employment relationship at any time for any reason or no reason, without further obligation or liability. In addition, the Company may, in its sole discretion, modify, revoke, suspend or terminate
any of the terms, plans, policies and/or procedures described herein or otherwise communicated to you, in whole or in part, at any time, with or without notice except for the change of control outlined in section 3 above and the policy of at-will
employment. Any such changes to your at-will status must be in writing and must be signed by the Chief Executive Officer of MobiTV. Any changes to section 3 above must be in writing and by the mutual consent of yourself and the company, and must be
signed by yourself and the Vice President of Human Resources or General Counsel of MobiTV. 
 This letter, together with the
Confidential Information and Invention Assignment Agreement, set forth the terms of your employment with the Company and supersede any prior representations, agreements, discussions, or offers between the parties, whether written or oral. To
indicate your acceptance of this offer, please sign and date this letter in the space provided below and return it, along with a signed and dated copy of the Confidential Information and Invention Assignment Agreement no later than close of business
on 30 April 2010. 
 We believe that you will make a significant contribution to the Company. I am looking forward
to you accepting this offer and joining us in this exciting venture. IT you have any questions, please do not hesitate to contact your manager, Penny DeFrank or me. 
 Sincerely, 
  

			
	
	/s/ LYNDN WARD PIERCE
	
	Lyndn Ward Pierce
	Vice President, Human Resources

 By my execution of this letter, I accept the offer of employment (and all of the terms and conditions) above. 

 

			
		
	Signature:	 	/s/ RICHARD C. HERMAN
		
	Print Name:	 	 Richard C. Herman

		
	Date:	 	 4/27/10

		
	Actual Start Date:	 	 5-24-10

 After signing the letter and completing the information above, please return a fax copy of the letter and acceptance to
(510) 450-5306, attention Linda Burton, Human Resources Department, along with the complete, signed Confidential Information and Invention Assignment Agreement. Please keep copies for your records. 

  
 3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00193-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00193-of-00352.parquet"}]]