EX-10.10 12 d433338dex1010.htm EMPLOYMENT OFFER LETTER Employment offer letter

Exhibit 10.10

 

LOGO

June 14th, 2012

Sujan Jain

Dear Sujan,

I am very pleased to offer you the position of Senior Vice President and Chief Financial Officer, reporting to me, Zack Rinat, Founder and Chief Executive Officer.

Your starting annual base salary will be $225,000 payable on a semi-monthly basis. You are also eligible for employee benefits as specified in the employee benefits information packet, which you will receive after you accept this offer. In addition, on a yearly basis, you will be eligible to participate in Model N’s Bonus Plan at an annualized target bonus of $125,000 based on specific company and personal objectives.

Model N management will recommend to the Board of Directors that you be granted an option to purchase 590,000 (five hundred and ninety thousand) shares of Common Stock of Model N, Inc. through our stock option plan. The price per share for each grant will be the fair market value of the Common Stock as determined by the Board of Directors at the date of the grant. The shares are subject to vesting over a four-year period at a rate of 1/48 per month. However, no shares shall be vested for a period of 12 months from your start date.

As a Model N employee, you will be expected to sign and comply with a proprietary information and non-disclosure agreement which requires, among other provisions, the assignment of patent rights to any invention made during your employment at Model N and non-disclosure of proprietary information.

While you render services to Model N, you also will not assist any person or organization in competing with Model N, in preparing to compete with Model N, or in hiring any employees of Model N.

This offer is subject to your submission of an I-9 form and satisfactory documentation respecting your identification and right to work in the United States no later than (3) days after your employment begins. The offer is also contingent on satisfactory completion of reference checks and a background check, which we will initiate with your permission after receiving your acceptance.

As an employee, you may terminate employment at any time and for any reason whatsoever with notice to Model N. We request that in the event of resignation, you give the company two weeks’ notice. Similarly, Model N may terminate your employment at any time and for any reason whatsoever, with or without cause or advance notice. Furthermore, this mutual termination of employment supersedes all our prior written and verbal communication with you and can only be modified by written agreement signed by you and Model N.

To indicate your acceptance of this offer, please sign and date this letter and return it to Model N. For your convenience, you may scan and email your signed letter (both pages) to Zack Rinat zack@modeln.com. This offer will expire at the end of day on June 16th, 2012.

I look forward to your favorable reply and to an exciting and productive working relationship.

1800 Bridge Parkway, Redwood Shores, CA 94065    tel: 650-610-4600; fax: 650-640-7603


Sincerely,    

/s/ Zack Rinat

   

July 3rd, 2012

Zack Rinat     Proposed Start Date
Founder & CEO    
Model N, Inc.    

/s/ Sujan Jain

   

6-15-2012

Accepted     Date