8x8 2011 Annual Report Download - page 77

Download and view the complete annual report

Please find page 77 of the 2011 8x8 annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 83

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83

8x8, Inc. Offer Letter to Mr. Kim Niederman, page 2
11. In the event that you are terminated, without cause, between six months and one year of employment with 8x8, you
will effectively remain an employee of 8x8 for six months from such date of termination (the “Employment Extension
Period”) and will continue to vest the stock grants above subject to stock plan provisions during the Employment
Extension Period. You will continue to receive medical and other benefits, including 401(k) and ESPP, for the
Employment Extension Period other than PTO, which would cease to accrue as of your termination date. During the
Employment Extension Period, you are free to seek employment elsewhere, subject to honoring the obligations of
noncompete (which are determined at the time you are engaging in any new activity, and are intended to prevent 8x8
from paying you salary while you are working for a direct competitor, such as RingCentral, Avaya, or Shoretel,
whereas employment at Google or elsewhere would not conflict so long as there is no direct competition with 8x8) and
nondisclosure, as well as assignment of intellectual property developed through the date of termination. You owe us
nothing on intellectual property developed after your date of termination. You agree during the Employment
Extension Period to be available to consult on matters as they might arise that relate to your employment prior to your
termination date, including answering questions or talking to some partner or party who may require reassurance, or
operational or legal assistance. Your approved expenses incurred through your termination date will be paid out
through the normal expense report process. You agree to resign as an officer effective on such termination date. You
will continue to be paid via 8x8’ s normal payroll through the Employment Extension Period, at which time you will be
reimbursed for your PTO at your final exit interview.
If this meets with your approval, please execute where indicated below. Please return a copy of the signed letter to Bryan
Martin by FAX at 408-980-0432. We welcome you to the team.
Best Regards,
/s/ BRYAN R. MARTIN
Bryan R. Martin
Chairman and Chief Executive Officer
Approved: /s/ KIM NIEDERMAN Date: February 3, 2011