SEC Contract Filing

Filing Date: 2022-04-28

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>2
<FILENAME>meta03312022-ex102.htm
<DESCRIPTION>EX-10.2
<TEXT>
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<title>Document</title></head><body><div id="i3f19fcc860ab44fba70188b78fd73c44_1"></div><div style="min-height:63pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">EXHIBIT 10.2 </font></div><div style="text-align:center"><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">September 14, 2021</font></div><div><font><br></font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Dear Marne Levine&#58;</font></div><div><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">On behalf of Facebook, Inc. (the &#8220;Company&#8221; or &#34;Facebook&#34;), I am pleased to confirm the terms of the transition of your position at Facebook to the new position of Chief Business Officer. You will continue to work out of the Company&#8217;s Menlo Park office, under the guidance of Sheryl Sandberg. This transition is effective as of September 7, 2021 (the &#34;Transition Date&#34;). This letter, and the other agreements referenced herein, supersede and replace any prior understandings or agreements, whether oral, written or implied, between you and the Company regarding the matters described in this letter. This letter will be governed by the laws of the state in which you are employed, without regard to its conflict of laws provisions.</font></div><div style="text-align:justify;text-indent:36pt"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">1. </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:112%;text-decoration:underline">Compensation</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:112%">.</font></div><div style="text-align:justify;text-indent:36pt"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">a. </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:112%;text-decoration:underline">Base Pay</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:112%">.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> In this regular full-time position, your annual base pay will not change and you will continue to receive annual base pay in the amount that was in effect immediately prior to the Transition Date. Your base pay will be payable pursuant to the Company&#8217;s regular payroll policy. Your base pay will be periodically reviewed as a part of the Company&#8217;s regular reviews of compensation.</font></div><div style="text-align:justify;text-indent:36pt"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">b. </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:112%;text-decoration:underline">Bonus</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:112%">.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> You may continue to be eligible to receive a semi-annual discretionary bonus of up to a target percentage of your Base Eligible Earnings as defined in the Company's bonus plan. Your applicable target percentage will be the same as was in effect for you immediately prior to the Transition Date. Based on your performance, you can over-achieve your bonus target pursuant to the Company's bonus plan. Your bonus arrangement will be periodically reviewed as a part of the Company&#8217;s regular reviews of compensation.</font></div><div style="text-align:justify;text-indent:36pt"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">2. </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:112%;text-decoration:underline">Employee Benefits</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:112%">.</font></div><div style="text-align:justify;text-indent:36pt"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">a. </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:112%;text-decoration:underline">Paid Time Off</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:112%">.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-h