Description of Compensation. Your service to the company will continue uninterrupted from the conclusion of your employment as an employee. When your employment ends and your service as a consultant begins per the terms of this Agreement, you will no longer receive benefits, a salary or hourly wages, or any other remuneration. As consideration for Your Services provided as a consultant, the Company agrees to allow your existing stock options and RSUs to vest as described in Section 1(b) of the Agreement.
Description of Compensation. As compensation for the Services described above and in this Agreement, the Company will pay Advisor $5000 per month, payable monthly. Further, while providing the services outlined in this Agreement, Advisor will continue to vest the previously granted options to purchase the Company’s Common Stock under all previously granted options under the Company’s 2005 Stock Incentive Plan for so long as Advisor continues to provide Services to the Company hereunder. Advisor is also entitled to anti-dilution protection as approved by the board on February 15, 2012. By signing this Exhibit A, and intending to be legally bound hereby, the undersigned hereby declare they have the authority to enter into this Exhibit A on behalf of their respective companies and/or themselves and they agree to the terms contained herein. Authorized Signature Authorized Signature Print Name Date AMENDMENT TO THE EMPLOYMENT AGREEMENT This Amendment to the Employment Agreement (the “Amendment”) amends the Employment Agreement by and between Xxxxxx Xxxxxxxx (the “Employee”) and Chegg, Inc. (the “Company”) dated as of December 8, 2008, as amended by the Amendment to the Employment Agreement dated May 22, 2012, (the “Agreement”) shall be amended so that: The following is hereby added to the end of the last sentence of Section 12.5.1 of the Agreement: “and provided further that if the 21-day period spans two calendar years, payment will commence in the second calendar year.” Except as specifically described in this Amendment, the Agreement remains in full force and effect. This Amendment is effective as of the date last signed by a party hereto as set forth below. Signed by Employee: /s/ Xxxxxx Xxxxxxxx Date: 12/11/12 Signed by Chegg, Inc.: By: /s/ Xxxxxx Xxxxx Date: 12/11/12 Name: Xxxxxx Xxxxx
Description of Compensation. 1. The fees payable to the Service Provider during the term of this Agreement for performance of the Services in accordance with the terms of this Agreement will be as follows:
Description of Compensation. In addition to the compensation described in Section 3 of this Agreement, the Company will provide Executive with the following: l Discretionary cash bonuses in amounts, if any, to be determined for each fiscal year (from August 1 through July 31 of each year) by the Company’s Board of Directors within four months after the end of each such fiscal year. l Cash bonuses, if any, for any partial fiscal year will be prorated, except that for the fiscal year ended July 31, 2002, the Company will provide the Executive with service credit for the months of April, May, June and July and two additional months in recognition of his service at forty percent (40%) of full time as a consultant to the Company during the prior six months (i.e. for the year ended July 31, 2002, the Executive will be entitled to fifty percent (50%) of the full cash bonus rate, if any, set by the Company’s Board of Directors). l Advances against potential cash bonuses in the sum of $2,500 per month shall be paid by the Company to the Executive with his base salary on an ongoing basis. Such advances will be credited as set-off against any cash bonus awarded. In the event that such cash bonuses for a particular fiscal year amounts to less than actual advances the Company provides to the Executive, then the net amount will be treated as set-off against the Executive’s base salary until the net amount is zero. The Company and the Executive may by mutual agreement decide to discontinue such advances.
Description of Compensation. (1) The Company shall pay to Capitaline for personnel costs related to the provision of Services, which costs shall be determined based upon an hourly rate for each person as set forth on Schedule A to this Exhibit A (which Exhibit A also estimates the number of hours of Services be provided by each such person each month);
Description of Compensation. Dis- closure as to the compensation payable under a performance goal must be spe- cific enough so that shareholders can determine the maximum amount of compensation that could be paid to any employee during a specified period. If the terms of the performance goal do not provide for a maximum dollar amount, the disclosure must include the formula under which the compensa- tion would be calculated. Thus, for ex- ample, if compensation attributable to the exercise of stock options is equal to the difference in the exercise price and the current value of the stock, disclo- sure would be required of the maximum number of shares for which grants may be made to any employee and the exer- cise price of those options (e.g., fair market value on date of grant). In that case, shareholders could calculate the maximum amount of compensation that would be attributable to the exer- cise of options on the basis of their as- sumptions as to the future stock price.
