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Glu Mobile Inc – IPO: ‘S-1’ on 12/19/06 – ‘EX-10.16’

On:  Tuesday, 12/19/06, at 5:19pm ET   ·   Private-to-Public:  Document/Exhibit  –  Release Delayed   ·   Accession #:  891618-6-520   ·   File #:  333-139493

Previous ‘S-1’:  None   ·   Next:  ‘S-1/A’ on 12/20/06   ·   Latest:  ‘S-1/A’ on 3/19/07   ·   1 Reference:  By:  SEC – ‘UPLOAD’ on 1/23/07

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  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

12/19/06  Glu Mobile Inc                    S-1¶                  23:8.9M                                   Bowne - Palo Alto/FA

Initial Public Offering (IPO):  Registration Statement (General Form)   —   Form S-1
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: S-1         Registration Statement (General Form)               HTML   2.23M 
23: COVER     ¶ Comment-Response or Cover Letter to the SEC         HTML      4K 
 2: EX-4.02     Instrument Defining the Rights of Security Holders  HTML    268K 
 3: EX-10.01    Material Contract                                   HTML     59K 
 4: EX-10.05    Material Contract                                   HTML    424K 
 5: EX-10.13    Material Contract                                   HTML    192K 
 6: EX-10.14    Material Contract                                   HTML     16K 
 7: EX-10.15    Material Contract                                   HTML     28K 
 8: EX-10.16    Material Contract                                   HTML     17K 
 9: EX-10.17    Material Contract                                   HTML     20K 
10: EX-10.18    Material Contract                                   HTML     69K 
11: EX-10.19    Material Contract                                   HTML    161K 
12: EX-10.20    Material Contract                                   HTML     71K 
13: EX-10.21    Material Contract                                   HTML     53K 
14: EX-10.22    Material Contract                                   HTML     59K 
15: EX-10.23    Material Contract                                   HTML     20K 
16: EX-10.24    Material Contract                                   HTML     14K 
17: EX-21.01    Subsidiaries                                        HTML     11K 
18: EX-23.02    Consent of Experts or Counsel                       HTML      8K 
19: EX-23.03    Consent of Experts or Counsel                       HTML      8K 
20: EX-23.04    Consent of Experts or Counsel                       HTML     10K 
21: EX-99.01    Miscellaneous Exhibit                               HTML     13K 
22: EX-99.02    Miscellaneous Exhibit                               HTML     12K 


‘EX-10.16’   —   Material Contract


This Exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]



  exv10w16  

 

Exhibit 10.16
December 22, 2003
Jill Braff
5910 Ascot Dr.
Oakland, CA 94611
     Re:      Offer of Employment
Dear Jill:
     Sorrent, Inc. (the “Company”) is pleased to offer you a position with the Company as Vice President, Marketing commencing on December 29, 2003. We are please to find someone with your vision and commitment to work as an integral part of our team.
    You will be entitled to receive an annual salary of $160,000 (the “Base Salary”) to be paid in accordance with the Company’s normal payroll procedures. You are entitled to receive a bonus, at the Company’s sole discretion, of up to 20% of your yearly salary ($32,000) to be paid quarterly. Complete details of your bonus plan will be specified no later than January 23, 2004.
     We will recommend that the Company’s Board of Directors (the “Board”) grant you an option to purchase up to 150,000 shares of the common stock of the Company at the then current fair market value, as determined by the Board. Such stock options shall vest over four (4) years, whereby 37,500 stock options shall vest twelve (12) months after the option grant date (which will be no earlier than the Start Date), with the remaining 112,500 stock options vesting monthly thereafter at the rate of 1/36 over the course of 36 months. All stock options issued to you shall be governed by the terms and conditions of the Company’s 2001 Amended and Restated Stock Option Plan and Stock Option Agreement, which agreement will be executed by you and the Company upon Board approval of the grant of the incentive stock options hereunder. In the event the Company consummates a Change in Control Transaction (as such term is defined in the Plan) and terminates your employment for reasons other than Cause within three (3) months following the consummation of such Change in Control Transaction, then fifty percent (50%) of the unvested shares subject to the stock option will be accelerated.
     In the event the Company terminates your employment for reasons other than Cause (as such term is defined in the Plan) within one year of your employment start date, you will be entitled to receive three (3) months’ severance payments plus benefits, paid bi-weekly with Sorrent’s normal payroll schedule, in exchange for your execution of a release of claims.
    As a Company employee, you will also be eligible to receive certain employee benefits, as modified by the Company from time to time, including medical coverage, to the extent that your position, tenure, salary, age, health and other qualifications make you eligible to participate, subject to the rules and regulations applicable thereto.

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     Your employment with the Company is for no specified period and constitutes an “AT-WILL” employment arrangement. As a result, you are free to resign at any time, with or without notice, for any reason or for no reason. Similarly, the Company is free to conclude its employment relationship with you at any time, with or without notice and with or without cause.
     For purposes of federal immigration law, you will be required to provide to the Company documentary evidence of your identity and eligibility for employment in the United States. Such documentation must be provided to us within three (3) business days of the Start Date, or our employment relationship with you may be terminated.
     As a condition of your employment, you will be expected to sign and comply with the Employee Proprietary Information and Inventions Agreement, a copy of which is attached hereto as Exhibit A. In addition, you agree that you will not engage in any other employment, occupation, consulting or other business activity related to the business in which the Company is now involved or becomes involved during the term of your employment, nor will you engage in any activities that conflict with your obligations to the Company.
     This letter, along with the Employee Proprietary Information and Information Agreement, sets forth the terms and conditions of your employment with the Company and supersede any prior representations or agreements, whether written or oral. This letter may not be modified or amended except by a written agreement, signed both by an officer of the Company and you.
     To accept the Company’s offer of employment, please sign and date this letter in the space provided below and return it to me no later than December 24, 2003. Please print a duplicate original for your records.
     We believe Sorrent, Inc. is poised to achieve great success. We anticipate that you will be a critical component of that success. We look forward to working with you.
 C:  C:  C:  C: 
     
 
  Sincerely,
 
   
 
  SORRENT, INC.
 
   
 
  /s/ Paul Zuzelo                                                                                 
 
  Paul Zuzelo, Exec. V.P. & CFO,
 
  for Ray Schaaf, President of Publishing
ACCEPTED AND AGREED TO
this 23 day of December, 2003
/s/ Jill Braff                                                                                 
Jill Braff

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Dates Referenced Herein

This ‘S-1’ Filing    Date    Other Filings
Filed on:12/19/06None on these Dates
1/23/04
12/29/03
12/24/03
12/22/03
 List all Filings 


1 Subsequent Filing that References this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 1/23/07  SEC                               UPLOAD9/30/17    1:207K Glu Mobile Inc.
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Filing Submission 0000891618-06-000520   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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