In addition, the Company agrees to pay you up to $50,000 to cover any net loss resulting from the sale of your primary residence, located at, within 15 months of your start date.
#Luminar ceo full
Specifically, should you resign within one (1) year of your start date with the Company for any reason, you agree to reimburse the Company, upon termination, in full for the Relocation Payment. Please note that the relocation assistance is not a vested benefit, but instead is earned over time depending on the length of your employment with the Company. To that end, the Company will offer you $50,000 to assist with miscellaneous relocation expenses, including any temporary housing and travel expenses, less applicable tax withholdings, to be paid on your first pay day after the start date (the Relocation Payment). We would like to help ensure that your relocation to the Palo Alto, California area is as seamless and comfortable as possible. Any bonus payments shall be subject to all required tax withholdings and deductions. This bonus shall be payable on a quarterly basis (up to $50,000 per quarter), provided you remain actively employed with the Company on a full-time basis through such time that the bonus is payable.
The actual amount of the discretionary bonus, if any, will be determined by the Company in its sole and exclusive discretion, taking into account factors such as your job performance and the Companys financial performance. Any bonus payments shall be subject to all required tax withholdings and deductions.īeginning in Q2, you will be eligible to receive an annual discretionary performance-based cash bonus of up to $200,000, which shall be linked to mutually agreed upon stretch goals and job performance. These bonus payments will be paid to you only if you are still actively employed by the Company at the time when each bonus payment is due and payable. If you decide to join us, subject to and notwithstanding the at-will nature of your employment, you will be eligible to receive a cash bonus of $200,000, which will be payable as follows: $50,000 payable on the first pay period following the end of Q2, $50,000 payable on the first pay period following the end of Q3, $50,000 payable on the first pay period following the end of Q4, and $50,000 payable on the first pay period following the end of Q1 in 2021. No right to any equity award is earned or accrued until such time that vesting occurs, nor does the grant confer any right to continue vesting or contract. This Option shall be subject to the terms and conditions of the Companys 2015 Stock Plan and the Companys standard form of applicable Option agreement, which you will be required to sign. You should consult with your own tax advisor concerning the tax consequences associated with accepting the Option. There is no guarantee that the Internal Revenue Service will agree with this value. The exercise price per share of this Option will be equal to the fair market value per share of the Companys Common Stock on the date the Option is granted, as determined by the Board in good faith. The Option will vest and become exercisable over a 4-year period, with 25% vesting and becoming exercisable 12 months after the start date of your employment with the Company, and the balance vesting and becoming exercisable in equal monthly installments over the next 36 months, subject to your continuous employment with the Company through each such vesting date. If you decide to join the Company, it will be recommended to the Companys Board of Directors (the ∻oard) that the Company issue you a one-time option grant to purchase 135,000 shares of the Companys Common Stock (the Option). We are excited about you joining the Company and look forward to a beneficial and productive relationship. If you decide to join us, you will receive an annual salary of $300,000, which will be paid semi-monthly in accordance with the Companys standard payroll policy. This is a full-time, exempt position based in our Palo Alto facility and reporting to Austin RusseIl, CEO.
(the ∼ompany) is very pleased to offer you a position as CFO. 12601 Research Parkway, Orlando, FL 32826
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