SEC Contract Filing

Filing Date: 2020-02-27

Document Content:
<DOCUMENT>
<TYPE>EX-10.23
<SEQUENCE>3
<FILENAME>exhibit1023.htm
<DESCRIPTION>EXHIBIT 10.23
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
	<head>
 <!-- Document created using Wdesk 1 -->
 <!-- Copyright 2020 Workiva -->
 <title>Exhibit</title>
	</head>
	<body><div style="font-family:Times New Roman;font-size:10pt;">
<div><a name="sae57ba2ff9fd41d9bcff8d3384960553"></a></div><div><div style="line-height:120%;text-indent:0px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;text-indent:528px;font-size:12pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">EXHIBIT 10.23</font></div><div style="line-height:120%;text-align:left;text-indent:0px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:right;text-indent:0px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:0px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:24px;text-align:center;text-indent:0px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">EXECUTIVE SEVERANCE AND VESTING ACCELERATION AGREEMENT</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:0px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">THIS EXECUTIVE SEVERANCE AND VESTING ACCELERATION AGREEMENT (this &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Agreement</font><font style="font-family:inherit;font-size:11pt;">&#8221;), dated as of [_______], is entered into by and between The Rubicon Project, Inc. (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Company</font><font style="font-family:inherit;font-size:11pt;">&#8221;), and [_______] (&#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Executive</font><font style="font-family:inherit;font-size:11pt;">&#8221;).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:0px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The Company and Executive are currently, or are expected to become, parties to:</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">(i)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">an Employment Letter or Offer Letter setting forth terms of Executive&#8217;s employment (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Employment Letter</font><font style="font-family:inherit;font-size:11pt;">&#8221;)&#160;and </font></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:96px;text-indent:0px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">(ii)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Grant Notices or other documents documenting the issuance of Stock Options or other equity awards to Executive (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Equity Agreements</font><font style="font-family:inherit;font-size:11pt;">&#8221;).</font></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:96px;text-indent:0px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:0px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The undersigned desire to enter into this Agreement to set forth the terms by which Executive would receive certain accelerated vesting and severance pay under certain circumstances in connection with a termination of Executive&#8217;s employment. With respect to severance and change in control protection, this Agreement supersedes the Employment Letter, Equity Agreements, and any other contracts between Executive and the Company or policies of the Company (collectively with the Employment Letter and Equity Agreements, the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Existing Documents</font><font style="font-family:inherit;font-size:11pt;">&#8221;)&#160;as set forth below.</font></div><div style="line-height:120%;padding-left:48px;text-align:left;text-indent:48px;"><font style="text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">1.</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Certain Defined Terms</font><font style="font-family:inherit;font-size:11pt;">. As used herein:</font></div><div style="line-height:120%;text-align:left;padding-left:48px;text-indent:0px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;padding-left:0px;text-align:left;te