circumstances, if applicable, under which post-employment compensation or vesting acceleration terms might apply. These offers of employment were each subject to execution of a standard proprietary information and invention agreement and proof of identity and work eligibility in the United States.
Dheeraj Pandey
We entered into an employment letter with Dheeraj Pandey, our Chief Executive Officer and Chairman on February 26, 2015. The employment letter has an indefinite term and Mr. Pandeys employment is at-will. Mr. Pandeys current annual base salary is $500,000, and he is currently eligible to earn annual incentive compensation with a target equal to $500,000, based upon achievement of individual and corporate targets determined by our board of directors or compensation committee for each fiscal year.
In connection with entering into the employment letter, we granted Mr. Pandey four RSU grants under our 2010 Stock Plan, or the 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 M. 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 $475,000, 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.
David M. Sangster
We entered into an employment letter with David Sangster, our Chief Operating Officer, on October 17, 2011. The employment letter has an indefinite term and Mr. Sangsters employment is at-will. Mr. Sangsters current annual base salary is $475,000, and he is currently eligible to earn annual incentive compensation with a target equal to $275,000, 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. Sangster was granted a stock option under our 2010 Plan and option agreement to purchase 350,000 shares of our Class A common stock. That option has vested in full and has been exercised by Mr. Sangster. For additional details regarding Mr. Sangsters equity awards, see Executive Compensation - Executive Compensation Tables above.
Mr. Sangster is a participant in the Change of Control and Severance Policy, which is described below.
Tyler Wall
We entered into an employment letter with Tyler Wall, our Chief Legal Officer, on November 20, 2017. The employment letter has an indefinite term and Mr. Walls employment is at-will. Mr. Walls current annual base salary is $425,000, and he is currently eligible to earn annual incentive compensation with a target equal to $150,000 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. Wall was granted 300,000 RSUs under our 2016 Equity Incentive Plan, or the 2016 Plan, which vest over four years with a one-year vesting cliff. For additional details regarding Mr. Walls equity awards, see Executive Compensation - Executive Compensation Tables above.