IPASS LETTERHEAD]Ipass Inc • August 7th, 2009 • Services-computer processing & data preparation
This letter contains the terms of the separation agreement (the “Agreement”) which iPass Inc. (“the Company”) is offering to you to aid in your employment transition.
Re: Employment Offer Letter AgreementLetter Agreement • August 7th, 2009 • Ipass Inc • Services-computer processing & data preparation • California
In addition, you will be eligible to earn a target annual bonus of $215,000 paid on a quarterly basis consistent with the management bonus plan. Bonuses are only considered earned if the participant is an employee of iPass in good standing on the last day of the fiscal quarter and has successfully completed the quarterly objectives. If you leave the Company for any reason during the quarter, no pro-rata bonus shall be earned. The Company shall have the sole discretion to determine if you have met all of the requirements for earning a bonus (including completion of the applicable objectives) and, if so, the amount of the bonus payment. If earned, the bonus payments generally will be paid within forty-five (45) days following the end of the Company’s fiscal quarter to allow the Company time to determine bonus calculations. Any bonus provided to you will be subject to standard deductions and withholdings.
