In connection with entering into the employment letter, we granted Mr. Pandey four RSU grants under our 2010 Plan and RSU agreements, covering an aggregate of 1,900,000 shares. In March 2016, Mr. Pandey voluntarily forfeited his rights with respect to a number of the RSUs. For additional details regarding Mr. Pandeys equity awards, see
Executive Compensation - Executive Compensation Tables
above.
Mr. Pandey is a participant in the Change of Control and Severance Policy, which is described below
Duston Williams
We entered into an employment letter with Duston Williams, our Chief Financial Officer, on April 26, 2014. The employment letter has an indefinite term and Mr. Williams employment is at-will. Mr. Williams current annual base salary is $450,000, and he is currently eligible to earn annual incentive compensation with a target equal to $300,000, based upon achievement of individual and corporate targets determined by our board of directors or compensation committee for each fiscal year.
In connection with his hire, Mr. Williams was granted two option grants and one RSU grant covering an aggregate of 1,460,000 shares under our 2010 Plan all of which have vested in full. For additional details regarding Mr. Williams outstanding equity awards, see
Executive Compensation - Executive Compensation Tables
above.
Mr. Williams is a participant in the Change of Control and Severance Policy, which is described below.
Louis J. Attanasio
We entered into an employment letter with Louis J. Attanasio, our Chief Revenue Officer, on October 15, 2017. The employment letter has an indefinite term and Mr. Attanasios employment is at-will. Mr. Attanasios current annual base salary is $775,000 and was eligible to earn annual sales incentive compensation with a target equal to $775,000 until the end of fiscal 2018. Pursuant to the terms of the employment letter the compensation committee determined that for fiscal 2019 Mr. Attanasio shall be eligible to earn incentive compensation under our Executive Bonus Plan rather than the sales incentive compensation plan, with the same target equal to $775,000.
In connection with his hire, Mr. Attanasio was granted 1,200,000 RSUs under our 2016 Plan which vest on time-based schedules subject to his continuous service, including the following: (1) 1,000,000 RSUs subject to quarterly time-based vesting over four years with a one-year vesting cliff, or the First Tranche RSUs, and (2) 200,000 RSUs that shall vest quarterly over four years beginning after December 15, 2019, or the Second Tranche RSUs. For additional details regarding Mr. Attanasios equity awards, see
Executive Compensation -
Executive Compensation Tables
above.
Pursuant to the employment agreement, if Mr. Attanasio is terminated by the Company for any reason other than cause or Mr. Attanasio resigns for good reason, prior to the one-year anniversary of Mr. Attanasios start date and a change of control period as defined in the Change of Control and Severance Policy, 250,000 of the First Tranche RSUs shall immediately vest. If Mr. Attanasio is terminated by the Company for any reason other than cause or Mr. Attanasio resigns for good reason, following the one-year anniversary and prior to the two-year anniversary of Mr. Attanasios start date and a change of control period as defined in the Change of Control and Severance Policy, 250,000 of the unvested First Tranche RSUs shall immediately vest.
Mr. Attanasio is also a participant in the Change of Control and Severance Policy, which is described below.
Sunil Potti
We entered into an employment letter with Sunil Potti, our Chief Product and Development Officer, on January 4, 2015. The employment letter has an indefinite term and Mr. Pottis employment is at-will. Mr. Pottis current annual base salary is $400,000, and he is currently eligible to earn annual incentive compensation with a target equal to $275,000, based upon achievement of milestones determined by our board of directors or compensation committee for each fiscal year
In connection with his hire, Mr. Potti was granted three RSU grants covering an aggregate of 800,000 shares under our 2010 Plan and RSU agreements, as follows: (1) 700,000 shares subject to quarterly time-based vesting over four years with a one-year vesting cliff; (2) 50,000 shares that vest quarterly thereafter over 42 months, subject to his continued service through the applicable vesting dates; and (3) 50,000 shares that commenced vesting on the