SEC Contract Filing

Filing Date: 2021-10-22

Document Content:
<DOCUMENT>
<TYPE>EX-10.7
<SEQUENCE>7
<FILENAME>d203106dex107.htm
<DESCRIPTION>EX-10.7
<TEXT>
<HTML><HEAD>
<TITLE>EX-10.7</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.7 </B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Enjoy Technology, Inc. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">October 20, 2021
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ron Johnson </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>Re:</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Employment Terms </B></P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Ron: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On behalf of Enjoy Technology, Inc. (the
&#147;<B>Company</B>&#148;), I am pleased to offer you continued employment at the Company on the terms set forth in this offer letter agreement (the &#147;<B>Agreement</B>&#148;). As discussed, the terms of this Agreement govern with respect to
your employment, and will be effective as of October&nbsp;15, 2021 (the &#147;<B>Effective Date</B>&#148;). </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>1. Employment by the Company. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>(a) Position. </B>You will continue to serve as the Company&#146;s Chief Executive Officer. During the term of your employment with the
Company, you will devote your best efforts and substantially all of your business time and attention to the business of the Company, except for approved vacation periods and reasonable periods of illness or other incapacities permitted by the
Company&#146;s general employment policies. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>(b) Duties and Location. </B>You will perform those duties and responsibilities as are
customary for the position of Chief Executive Officer and as may be directed by the Company&#146;s Board of Directors, to whom you will report. Your primary office location will be the Company&#146;s Palo Alto, California office. Notwithstanding the
foregoing, the Company reserves the right to reasonably require you to perform your duties at places other than your primary office location from time to time, and to require reasonable business travel. The Company may modify your job title and
duties as it deems necessary and appropriate in light of the Company&#146;s needs and interests from time to time. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2. Base Salary and Employee
Benefits. </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>(a) Salary.</B> Initially, you will be paid a base salary at the rate of $58,240 per year, less applicable payroll
deductions and withholdings. Effective January&nbsp;1, 2022, your base salary will be increased to $62,400 per year, less applicable deductions and withholdings. Your base salary will be paid on the Company&#146;s ordinary payroll cycle. As an
exempt salaried employee, you will be required to work the Company&#146;s normal business hours, and such additional time as appropriate for your work assignments and position, and you will not be entitled to overtime compensation. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>(b) Bonus</B>. Should the Company adopt a written bonus plan applicable to executives of the Company, you will be eligible to participate in
such bonus plan pursuant to its terms. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>(c) Employee Benefits.</B> As a regular full-time employee, you will continue to be eligible to
participate in the Company&#146;s standard employee benefits offered to executive level employees, as in effect from time to time and subject to the terms and conditions of the benefit plans and applicable Company policies. A full description of
these benefits is available upon request. The Company may change your compensation and benefits from time to time in its discretion. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>3. Expenses.
</B>The Company will reimburse you for reasonable travel, entertainment or other expenses incurred by you in furtherance of or in connection with the performance of your duties hereunder, in accordance with the Company&#146;s expense reimbursement
policies and practices as in effect from time to time. In addition, the Company will reimburse you for business class air travel for business-related flights that are four hours or longer. </P>
<P STYLE="font-size:18pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
</DIV></Center>

<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ron Johnson </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-fami