SEC Contract Filing

Filing Date: 2021-05-13

Document Content:
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<TYPE>EX-10.6
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<FILENAME>d140951dex106.htm
<DESCRIPTION>EX-10.6
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit&nbsp;10.6 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">March&nbsp;3, 2021 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>CONFIDENTIAL </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">David Baszucki </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Re: Confirmatory Employment Letter </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear David: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This letter agreement (the
&#147;<B>Agreement</B>&#148;) is entered into between David Baszucki (&#147;<B>you</B>&#148;) and Roblox Corporation (&#147;<B>Roblox</B>&#148; or the &#147;<B>Company</B>&#148;) effective as of February&nbsp;21, 2021 (the &#147;<B>Effective
Date</B>&#148;), to confirm the terms and conditions of your employment with the Company as of the Effective Date. This Agreement amends and restates in its entirety the letter agreement entered into between you and the Company effective as of
November&nbsp;20,&nbsp;2020 (the &#147;<B>Prior Agreement</B>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>1.</B> <B>Title; Position</B>. Your position will continue to be our Founder,
President, Chief Executive Officer and Chair, and you will continue to report to the Company&#146;s Board of Directors. This is a full-time position. While you render services to the Company, you agree that you will not engage in any other
employment, consulting, or other business activity (whether full-time or part-time) that would create a conflict of interest with the Company. By signing this Agreement, you confirm to the Company that you have no contractual commitments or other
legal obligations that would prohibit you from performing your duties for the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2.</B> <B>Cash Compensation. </B>Your current annual base
salary is $800,000, payable in accordance with the Company&#146;s standard payroll schedule. Effective as of the date the Company&#146;s registration statement on Form <FONT STYLE="white-space:nowrap">S-1</FONT> is declared effective by the
Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended, with respect to shares of the Company&#146;s Class&nbsp;A Common Stock to be traded on any established stock exchange or a national market system (the
&#147;<B>IPO Date</B>&#148;), your annual base salary will be reduced to $0. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>3.</B> <B>Employee Benefits</B>. As a regular employee of the Company,
you will continue to be eligible to participate in a number of Company-sponsored benefits, subject to satisfying any eligibility requirements. In addition, you will continue to be entitled to paid vacation in accordance with the Company&#146;s
vacation policy, as in effect from time to time. The Company reserves the right to modify, amend, suspend, or terminate the benefit plans, programs, and policies it offers to its employees at any time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>4.</B> <B>Equity Awards</B>. You recently were granted an award of restricted stock units covering a maximum number of 11,500,000 shares of the
Company&#146;s Class&nbsp;A Common Stock under the Company&#146;s Amended and Restated 2017 Equity Incentive Plan (the &#147;<B>CEO Performance Award</B>&#148;). The Company intends that the CEO Performance Award will be the exclusive cash and
equity compensation that you will receive from the Company through 2027, unless there are unexpected changes in our business or other unforeseen factors that the Company&#146;s Board of Directors or its Compensation Committee determine would merit
providing additional cash or equity compensation opportunities to you. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>5.</B> <B>Severance</B>. You and the Company entered into a Change in Control
Severance Agreement effective as of November&nbsp;20, 2020 (the &#147;<B>Severance Agreement</B>&#148;) and the Severance Agreement will remain in effect </P>
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in accordance with its terms following the Effective Date. Following the IPO Date, and for purposes of calculating any severance benefits pursuant to Section&nbsp;3 of the Severance Agreement,
references to &#147;Salary&#148; in the Severance Agreement will mean the greater of $800,000 or such amount determined in accordance with the definition of &#147;Salary&#148; set forth in the Severance Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>6.</B> <B>Proprietary Information</B>. Like all Company employees, you were required, as a condition of your employment with the Company, to sign the
Company&#146;s standard At Will Employment, Confidential Information, Invention Assignment, and Arbitration Agreement (the &#147;<B>Confidential Information Agreement</B>&#148;) and your acceptance of this Agreement confi