SEC Contract Filing

Filing Date: 2025-01-17

Document Content:
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<TYPE>EX-10.20
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<FILENAME>d903961dex1020.htm
<DESCRIPTION>EX-10.20
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<TITLE>EX-10.20</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.20 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>T<SMALL>HIN</SMALL>CI, I<SMALL>NC</SMALL>. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4659 G<SMALL>OLDEN</SMALL> F<SMALL>OOTHILL</SMALL> P<SMALL>ARKWAY</SMALL>, S<SMALL>UITE</SMALL> 201 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">E<SMALL>L</SMALL> D<SMALL>ORADO</SMALL> H<SMALL>ILLS</SMALL>, CA 95762 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">July&nbsp;4, 2018 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Santiago <FONT
STYLE="white-space:nowrap">Fernandez-Gomez</FONT> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1160 Snowberry Ct </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Sunnyvale, CA 94087 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Santiago <FONT
STYLE="white-space:nowrap">Fernandez-Gomez:</FONT> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">ThinCI, Inc. (the &#147;Company&#148;) is pleased to offer you employment on the
following terms: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">1. <B>Position</B>. Your initial title will be Vice President of Platform Engineering, and you will initially report to
the Company&#146;s CEO. While you render services to the Company, you will not engage in any other employment, consulting or other business activity (whether <FONT STYLE="white-space:nowrap">full-time</FONT> or
<FONT STYLE="white-space:nowrap">part-time)</FONT> that would create a conflict of interest with the Company. By signing this letter 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; text-indent:9%; font-size:10pt; font-family:Times New Roman">2. <B>Cash Compensation</B>. The Company will pay you a starting salary at the
rate of US$300,000 per year, payable in accordance with the Company&#146;s standard payroll schedule. This salary will be subject to adjustment pursuant to the Company&#146;s employee compensation policies in effect from time to time. In addition,
you may be eligible to be considered for an incentive bonus for each fiscal year of the Company. The bonus (if any) will be awarded based on objective or subjective criteria established by the Company&#146;s Chief Executive Officer and approved by
the Company&#146;s Board of Directors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">3. <B>Employee Benefits</B>. As a regular employee of the Company, you will be eligible to
participate in a number of <FONT STYLE="white-space:nowrap">Company-sponsored</FONT> benefits. In addition, you will be entitled to paid vacation in accordance with the Company&#146;s vacation policy, as in effect from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">4. <B>Stock Options</B>. Subject to the approval of the Company&#146;s Board of Directors or its Compensation Committee, you will be granted
an option to purchase 679,344 shares of the Company&#146;s Common Stock (the &#147;Option&#148;). The exercise price per share of the Option will be determined by the Board of Directors or the Compensation Committee when the Option is granted. The
Option will be subject to the terms and conditions applicable to options granted under the Company&#146;s 2011 Stock Plan (the &#147;Plan&#148;), as described in the Plan and the applicable Stock Option Agreement. You will vest in 25% of the Option
shares after 12 months of continuous service, and the balance will vest in equal monthly installments over the next 36 months of continuous service, as described in the applicable Stock Option Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">5. <B>Proprietary Information and Inventions Agreement</B>. Like all Company employees, you will be required, as a condition of your
employment with the Company, to sign the Company&#146;s standard Proprietary Information and Inventions Agreement, a copy of which is attached hereto as <B>Exhibit</B><B>&nbsp;A</B>. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">6. <B>Employment Relationship</B>. Employment with the Company is for no specific period of
time. Your employment with the Company will be &#147;at will,&#148; meaning that either you or the Company may terminate your employment at any time and for any reason, with or without cause. Any contrary representations that may have been made to
you are superseded by this letter agreement. This is the full and complete agreement between you and the Company on this term. Although your job duties, title, compensation and benefits, as well as the Company&#146;s personnel policies