SEC Contract Filing

Filing Date: 2024-05-07

Document Content:
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>exhibit104q12024.htm
<DESCRIPTION>EX-10.4
<TEXT>
<html><head>
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<title>Document</title></head><body><div id="i384b148765ed482d857c2af6356be582_1"></div><div style="min-height:66.96pt;width:100%"><div><font><br></font></div></div><div style="text-align:right"><font style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Exhibit 10.4</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:100%">January 3, 2023</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Crystal Sumner</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:120%">***</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:120%">***</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline">Re&#58; Offer Letter</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Dear Crystal,</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Marqeta, Inc. (the &#8220;Company&#8221;) is delighted to extend to you this offer to join our team. These are incredibly exciting times at Marqeta and we look forward to having you be part of our future success! The terms of this offer are outlined below.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1.&#160;&#160;&#160;&#160;Position</font><font style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:120%">. You will perform the duties of Chief Legal Officer reporting to me. You will be based remotely. This offer is for a full-time, exempt position and we estimate that your start date will be on or about February 13, 2023 (the date you actually commence employment with the Company will be the &#8220;Start Date&#8221;).</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2.&#160;&#160;&#160;&#160;Compensation</font><font style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:120%">.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:27pt;text-align:justify;text-indent:-0.01pt"><font style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:5.63pt">Salary. You will be paid an annual base salary of $440,000.00 payable semi-monthly in accordance with the Company&#8217;s normal payroll process. Your annual base salary is contingent on your reporting location. If your reporting location changes, your salary may be subject to adjustment to the appropriate location differential.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:27pt;text-align:justify;text-indent:-0.01pt"><font style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:5.63pt">Performance Bonus. You are also eligible to receive an annual bonus with a target of 75% of your base salary. Following the end of each calendar year, the Company, in its discretion, will determine to what extent you will be paid a bonus for that year. For any calendar year that you are eligible for a bonus, you must remain employed by the Company through the date it is payable to earn the bonus. For the avoidance of doubt, if your start date is October 1st or later, you will not be eligible to receive a performance bonus for the calendar year of your hire date.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:27pt;text-align:justify"><font style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:5.62pt">Sign-On Bonus. The Company agrees to pay $85,000.00 within the first 30 days of your Start Date on the condition that you are an active employee and in good standing on the date it is to be paid. If you resign from your position or are terminated by the Company for Cause (as defined in the Company&#8217;s most recently adopted equity plan (the &#8220;Plan&#8221;)) within 12 months of your Start Date, you agree to repay the net sign-on bonus amount (that is, after taking into account any payroll deductions and withholdings that were made with respect to the sign-bonus) to the Company within 30 days of your termination date.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#