SEC Contract Filing

Filing Date: 2020-08-05

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>nvro-ex102_15.htm
<DESCRIPTION>EX-10.2
<TEXT>
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
<head>
<title>
nvro-ex102_15.htm
</title>
</head>
<!-- NG Converter v5.0.2.50 -->
<body>

<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Exhibit 10.2</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;Nevro Corp&#160;&#8226; 1800 Bridge Parkway&#160;&#8226; Redwood City, CA 94065 USA&#160;&#8226; 650-251-0005<br /><br />&#160;<br /><font style="font-weight:bold;"><br /></font><font style="font-weight:bold;">CONFIDENTIAL</font><font style="font-weight:bold;"><br /></font><br />&#160;<br />&#160; &#160;<br />May 15, 2020 &#160; &#160; </p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><br />Dear Rod,</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On behalf of Nevro Corp. (the &#8220;<font style="text-decoration:underline;">Company</font>&#8221; or &#8220;<font style="text-decoration:underline;">NEVRO</font>&#8221;), we are very pleased to offer you the position of Chief Financial Officer. Your appointment is subject to approval of the Company&#8217;s Board of Directors and the compensation set forth below is subject to the approval of the Company&#8217;s Compensation Committee. This position reports to the Chairman, President and Chief Executive Officer of the Company. Your targeted start date with NEVRO will be June 15, 2020. <br /><br />This is an exempt position and your base salary is $36,666.66&#160;per month (annualized at $440,000), payable in accordance with the Company&#8217;s standard payroll schedule for exempt employees. You will also be eligible for an annual performance-based, discretionary cash bonus up to&#160;60% of your annual base salary. Your bonus, prorated for 2020 based on your start date, shall be determined based upon achievement of defined performance goals, as determined by the Company&#8217;s Compensation Committee.<br /><br />The Company will recommend to the Compensation Committee that you be granted a number of restricted stock units (the &#8220;<font style="text-decoration:underline;">RSUs</font>&#8221;) equal to (i) $1,500,000 divided by (ii) the closing price of the Company&#8217;s common stock on your first date of employment.&#160; The award of the RSUs is subject to approval of the Compensation Committee and each RSU will represent the right to receive one share of the Company&#8217;s common stock upon vesting and settlement. The RSUs will vest in substantially equal annual installments over four years based on your continuous service to the Company through each vesting date. The RSUs will be granted under the Company&#8217;s 2014 Equity Incentive Plan (the &#8220;<font style="text-decoration:underline;">Plan</font>&#8221;) and will be subject to the terms of the Plan and an RSU agreement to be entered into between you and the Company.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company will also recommend to the Compensation Committee that you be granted a number of performance stock units (the &#8220;<font style="text-decoration:underline;">PSUs</font>&#8221;) equal to (i) $1,500,000 divided by (ii) the closing price of the Company&#8217;s common stock on your first date of employment.&#160; The award of the PSUs is subject to approval of the Compensation Committee and will be subject to certain performance criteria (the &#8220;<font style="text-decoration:underline;">Criteria</font>&#8221;) to be established by the Compensation Committee. The PSUs will vest fifty percent (50%) on the second anniversary of your grant date (or the first Tuesday of the month following your start date, the &#8220;<font style="text-decoration:underline;">Vesting Commencement Date</font>&#8221;) and fifty percent (50%) on the third anniversary of Vesting Commencement Date, in each case subject to (i) your continuous service to the Company through each vesting date and (ii) achievement of the Criteria.&nbsp;&nbsp;The PSUs will, upon vesting and settlement, represent the right to receive a certain number of shares of the Company&#8217;s common stock as set forth in a performance stock unit agreement (&#8220;<font style="text-decoration:underline;">PSU Agreement</font>&#8221;) to be entered into between you and the Company and as determined pursuant to the Criteria. The PSUs will be granted under the Plan and will otherwise be subject to the terms of the Plan and the PSU Agreement.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU2"></a>During the term of your employment, you will be eligible to participate in the Company&#8217;s standard benefits, whic