Document:

exv10w16

 

Exhibit 10.16

LOGMEIN, INC.

500 Unicorn Park Drive

Woburn, MA 01801

April 1, 2008

James Kelliher

c/o LogMeIn, Inc.

500 Unicorn Park Drive

Woburn, MA 01801

Dear James:

     I am pleased to reaffirm your position with LogMeIn, Inc., as Chief Financial Officer. This
letter amends and restates your previous offer letter, dated April 20, 2006. Upon signing this
letter, the previous offer letter will be cancelled and be of no future force and effect except
with respect to the provisions relating to the vesting of your option. If you decide to continue
with us, you will receive an annual salary of $225,000. Your salary will be paid in accordance
with LogMeIn’s standard payroll practice, which is currently semi-monthly (i.e. $9,375.00 per pay
period). Your salary will be updated from time to time as determined by the Compensation
Committee. As an employee, you will also be eligible to receive employee benefits including twenty
(20) vacation days per year which accrue monthly. You will also be eligible to participate in the
Company’s benefit plans and fringe benefits, including the Company’s health plan. The Board of
Directors reserves the right from time to time to change the Company’s employee benefit plans and
fringe benefits.

     Each calendar year, you will be eligible for a discretionary annual bonus. The Company’s
bonus plan is subject to review and approval by the Company’s Board of Directors and Compensation
Committee and is based upon specific Company and individual performance goals established annually
by Management and the Board of Directors.

     Additionally, from time to time it may be recommended at one of the meetings of the Company’s
Board of Directors or Compensation Committee that the Company grant you an option to purchase
shares of the Company’s Common Stock at a price per share to be determined by the Company’s Board
of Directors or Compensation Committee. No right to any stock is earned or accrued until such time
that vesting occurs, nor does the grant confer any right to continue vesting or employment. This
option grant shall be subject to the terms and conditions of the Company’s stock option plan and
stock option agreement.

     Upon a Change in Control of the Company (as that term is defined in the Company’s 2004 Equity
Incentive Plan), fifty percent (50%) of your initial option to purchase 430,000 shares shall become
exercisable as to any and all shares subject to the 430,000 share option that are not exercisable
in full at the time of such Change in Control.

 

 

     As described in your original offer letter, regarding your initial option grant of 430,000, in
the event that at any time within the first one (1) year following a Change in Control (as such
term is defined in the Company’s 2004 Equity Incentive Plan) you are subject to an “Involuntary
Termination” from employment with the Company other than for Cause, the remaining unvested shares
set forth in said option grant shall become exercisable as to any and all shares subject to said
option that were not exercisable in full at the time such termination becomes effective. For
purposes of this provision only, “Involuntary Termination” is defined as only the occurrence of one
of the following: (i) without your express written consent, there is a significant reduction of
your duties or responsibilities relative to your duties or responsibilities immediately prior to
such reduction; (ii) without your express written consent, there is a material reduction by the
Company of your base salary in effect immediately prior to such reduction, other than any reduction
that is part of a general reduction of employee or officer salaries; (iii) without your express
written consent, you are relocated to a facility or location such that your daily commute is
increased more than one hundred miles from what it had been on the commencement of your employment;
or (iv) any termination of your employment by the Company other than for “Cause.” Further for the
purposes of this provision of this letter agreement only, “Cause” shall mean: (i) fraud,
misappropriation, embezzlement or other act of material misconduct against the company including
without limitation, unauthorized use or disclosure of Company or third part confidential
information or trade secrets; (ii) conviction of any criminal act involving a felony or crime of
moral turpitude including without limitation, misappropriation of funds or property; (iii) willful
and knowing violation of any rules or regulations of any governmental or regulatory body material
to the business of the Company; (iv) any intentional or material failure to perform your
obligations hereunder or material gross negligence in performance of such duties; (v) any
continuing failure to perform your obligations hereunder or continuing negligence in performance of
such duties after you have been informed in writing of your default in performing such duties and
such failure or negligence continues for 30 days following such written notice; or (vi) any
material breach of the terms of this letter agreement. Nothing in this provision of this letter
agreement or otherwise with regard to the course of dealings between yourself and the Company shall
modify the employment arrangements you have with the company from being at-will.

     You agree to abide by the rules, regulations, instructions, personnel practices and policies
of the Company as may be in effect from time to time, in addition to any changes therein which may
be adopted from time to time by the Company. Except for vacations and absences due to temporary
illness, you will be expected to devote your full time and effort to the business and affairs of
the Company.

     As a condition of your continued employment with the Company, you agree to continue to abide
by the Company’s standard Confidentiality and Assignment of Inventions and Non-Competition
Agreement, which you signed on April 26, 2006.

     The employment relationship between the Company and you is at-will, and your employment
relationship may be terminated by the Company or you for any reason or for no reason. You
represent and warrant that the execution and delivery of this letter

 

 

agreement, the performance by you of any or all of the terms of this letter agreement and the
performance by you of your duties as an employee of the Company do not and will not breach or
contravene (i) any agreement or contract to which you were, are or may become a party on or at any
time after the date you commenced your employment with the Company, or (ii) any obligation you may
otherwise have under applicable law to any former employer or to any person to whom you have
provided, provide or will provide consulting services.

	 	 	 	 	 
	 	Sincerely,

LogMeIn, Inc.

 	 
	 	By:  	/s/ Michael Simon
 	 
	 	 	Name:  	Michael Simon 	 
	 	 	Title:  	CEO 	 
	 

I hereby acknowledge that I have had a full and adequate opportunity to read, understand, and
discuss the terms and conditions contained in this letter agreement prior to signing hereunder.

     /s/ James Kelliher     

James Kelliher

Date:
April 23, 2008exv10w17

 

Exhibit 10.17

LOGMEIN,
INC.
500 Unicorn Park Drive
Woburn, MA 01810

April 1,
2008

Marton Anka

c/o LogMeIn, Inc.

500 Unicorn Park Drive

Woburn, MA 01801

Dear Marton:

     I am pleased to reaffirm your position with LogMeIn, Inc., as Chief Technical Officer.
This letter amends and restates your previous offer letter, dated September 9, 2004. Upon signing
this letter, the previous offer letter will be cancelled and be of no future force and effect. If
you decide to continue with us, you will receive an annual salary of $200,000. Your salary will be
paid in accordance with LogMeIn’s standard payroll practice, which is currently semi-monthly (i.e.
$8,333.33 per pay period). Your salary will be updated from time to time as determined by the
Compensation Committee. As an employee, you will also be eligible to receive employee benefits
including twenty (20) vacation days per year which accrue monthly. You will also be eligible to
participate in the Company’s benefit plans and fringe benefits, including the Company’s health
plan. The Board of Directors reserves the right from time to time to change the Company’s employee
benefit plans and fringe benefits.

     Each calendar year, you will be eligible for a discretionary annual bonus. The Company’s
bonus plan is subject to review and approval by the Company’s Board of Directors and Compensation
Committee and is based upon specific Company and individual performance goals established annually
by Management and the Board of Directors.

     Additionally, from time to time it may be recommended at one of the meetings of the Company’s
Board of Directors or Compensation Committee that the Company grant you an option to purchase
shares of the Company’s Common Stock at a price per share to be determined by the Company’s Board
of Directors or Compensation Committee. No right to any stock is earned or accrued until such time
that vesting occurs, nor does the grant confer any right to continue vesting or employment. This
option grant shall be subject to the terms and conditions of the Company’s stock option plan and
stock option agreement.

     You agree to abide by the rules, regulations, instructions, personnel practices and policies
of the Company as may be in effect from time to time, in addition to any changes therein which may
be adopted from time to time by the Company. Except for vacations and absences due to temporary
illness, you will be expected to devote your full time and effort to the business and affairs of
the Company.

     As a condition of your continued employment with the Company, you agree to continue to abide
by the Company’s standard Confidentiality and Assignment of Inventions and Non-Competition
Agreement, which you signed on September 9, 2004.

 

 

     The employment relationship between the Company and you is at-will, and your employment
relationship may be terminated by the Company or you for any reason or for no reason. You
represent and warrant that the execution and delivery of this letter agreement, the performance by
you of any or all of the terms of this letter agreement and the performance by you of your duties
as an employee of the Company do not and will not breach or contravene (i) any agreement or
contract to which you were, are or may become a party on or at any time after the date you
commenced your employment with the Company, or (ii) any obligation you may otherwise have under
applicable law to any former employer or to any person to whom you have provided, provide or will
provide consulting services.

	 	 	 	 	 	 	 
	 	 	Sincerely,	 	 
	 	 	LogMeIn, Inc.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 /s/ Michael Simon	 	 
	 

	 	Name:
	 	 
Michael
Simon
	 	 
	 

	 	Title:	 	 CEO	 	 

I hereby acknowledge that I have had a full and adequate opportunity to read, understand, and
discuss the terms and conditions contained in this letter agreement prior to signing hereunder.

	 	 	 	 	 
	 
	/s/ Marton Anka	 	 
	 	 	 
	Marton Anka	 	 
	 
	 	 	 	 
	Date:
	 	 4/23/08

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