April 12, 2005
Cathy Welsh [address]
Dear Cathy:
On behalf of Akamai Technologies, Inc. (referred to in this letter collectively with its subsidiaries as the "Company"), I am pleased to confirm the offer of full-time employment with the Company that Paul Sagan made to you for the position of Chief Human Resources Officer in our Cambridge office. You will report to Paul in this capacity starting on April 29, 2005. This offer is contingent upon the following: (1) completion of an employment application, which is enclosed with this letter; (2) your consent to and the successful completion of a background investigation conducted pursuant to the Company's standard procedures.
Your base salary will be $8,076.92 bi-weekly ($210,000.00 on an annualized basis). You will be eligible to receive an annual incentive bonus, based on performance against objectives set by your manager, of 25% of your base salary (pro-rated for 2005). Your compensation shall be subject to review annually.
As part of this employment offer, the Company will recommend to the Akamai Board of Directors that you be granted a stock option under the Company's 1998 Stock Incentive Plan (the Plan) for the purchase of an aggregate of 65,000 shares of Common Stock of the Company, at an option price equal to the fair market value of the Common Stock as determined by the Board on the date the Board of Directors approves your stock option. If approved, your stock options at Akamai will vest over four years, provided you remain employed, all on a schedule beginning on the date your options are granted. The first 25 percent of the options will vest on the first anniversary of your Grant Date. An additional 6.25% of the original number of shares will vest at the end of each successive full three-month period following the first anniversary of the Grant Date until the fourth anniversary of the Grant Date. Subject to Board approval, your options will be evidenced by a separate option agreement embodying these terms. You will also be eligible to receive such future stock option grants, as the Board of Directors shall from time to time deem appropriate.
You will be eligible to participate in the Employee Stock Purchase Program beginning in the June 2005 offering period. This plan allows you to contribute between 1% and 15% of your salary through regular payroll deductions. The Akamai plan provides for a two-year offering period, t ...
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