SEC Contract Filing

Filing Date: 2023-08-08

Document Content:
<DOCUMENT>
<TYPE>EX-10.8
<SEQUENCE>2
<FILENAME>ex-108jennifercofferletter.htm
<DESCRIPTION>EX-10.8
<TEXT>
<html><head>
<!-- Document created using Wdesk -->
<!-- Copyright 2023 Workiva -->
<title>Document</title></head><body><div id="ib3f17e296c9e4e9781dc96c7a7449216_1"></div><div style="min-height:41.04pt;width:100%"><div style="text-align:right"><font><br></font></div></div><div style="margin-top:6pt;text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Exhibit 10.8</font></div><div style="margin-top:6pt"><img alt="doxlogo.jpg" src="doxlogo.jpg" style="height:47px;margin-bottom:5pt;vertical-align:text-bottom;width:192px"></div><div style="margin-top:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">August 10, 2020 </font></div><div style="margin-top:3pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Jennifer Chaloemtiarana </font></div><div style="margin-top:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Dear Jennifer,</font></div><div style="margin-top:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">It is with great pleasure that I offer you the position of General Counsel at Doximity (the &#8220;Company&#8221;). If you decide to join the Company starting August 24, 2020, you will receive an annualized base salary equal to $300,000 which will be paid semi-monthly in accordance with the Company's normal payroll procedures. You will also be eligible for a bonus structure that consists of four $75,000 goals&#58; 1) revised and published Company Privacy Policy, 2) average cycle time for telemedicine contracts, 3) successful S-1 filing with the SEC, and 4) efficient legal cost related to the Company&#8217;s IPO. These goals will be finalized and agreed to within one month of your start date. Payment for each goal completed will be made one month in arrears of achievement in accordance with the Company&#8217;s normal payroll procedures. As an employee, you will also be eligible to receive certain employee benefits. You should note that the Company may modify job titles, salaries, and benefits from time to time as it deems necessary.</font></div><div style="margin-top:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is excited about your joining and looks forward to a beneficial and productive relationship. Nevertheless, you should be aware that your employment with the Company is for no specified period and constitutes at-will employment. As a result, you are free to resign at any time, for any reason or for no reason. Similarly, the Company is free to conclude its employment relationship with you at any time, with or without cause, and with or without notice. We request that, in the event of resignation, you give the Company at least two weeks&#8217; notice.</font></div><div style="margin-top:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In connection with the commencement of your employment, the Company will recommend that the Board of Directors grant you an option to purchase 118,000 shares of the Company&#8217;s Common Stock (&#8220;Shares&#8221;) with an exercise price equal to the fair market value on the date of the grant. These option shares will vest at the rate of 1&#47;4th of the total number of Shares subject to the option on the one-year anniversary of your employment commencement date and 1&#47;48th of the total number of Shares subject to the option on each monthly anniversary of your employment commencement date thereafter. Vesting will, of course, depend on your continued employment with the Company. The option will be an incentive stock option to the maximum extent allowed by the tax code and will be subject to the terms of the Company&#8217;s 2010 EIP Stock Plan and the Stock Option Agreement between you and the Company.</font></div><div style="margin-top:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:26.28pt">In the event that you are terminated by the company without Cause (as defined below), you will receive the following&#58;</font></div><div style="margin-top:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i).</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:24.07pt">Severance payments in the aggregate amount equivalent to the sum of (a) six (6) months of your base salary in effect as of the date of your separation and (b) a pro-rated portion of your Annual Eligible Bonus (to be calculated based on the ratio of year-to-date performance as of your date of separation to the full year plan performance objectives, multiplied by the amount of the Annual Eligible Bonus) (together, the &#8220;Severance&#8221;), to be paid in equal installments for a period of six (6) months following the separation (the &#8220;Severance Period&#8221;).</font></div><div style="margin-top:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:23.8pt">Upon your timely election to continue your existing health benefits under COBRA, the company will pay its applicable portion