1. | Start Date. It is intended that your employment with the Company will commence on June 6, 2016. |
2. | Annual salary. The Company will pay you an annual salary of £250,000, payable in equal monthly instalments and subject to deduction of applicable income tax and national insurance contributions. |
3. | Bonus. You will be eligible to participate in the Company's bonus plan and subject to satisfaction of applicable performance and other conditions shall be entitled to payment of a bonus of up to 50% of your base salary per annum. Your eligibility for and payment of any bonus sum shall be subject to the terms and conditions set out in your employment agreement and the applicable bonus plan as amended from time to time. |
4. | Stock Options. Details of any stock options will be sent to you by separate letter. |
5. | Management Retention Agreement. Subject to the approval of Rocket Fuel Inc.'s compensation committee or board of directors, you shall be entitled to participate in a management retention agreement which provides for certain payments to be made to you in the event that your employment with the Company is terminated in specific circumstances, for example in the event of a change of control. Any such payment will be subject to the terms and conditions of the management retention agreement, a copy of which shall be provided to you once the compensation committee or the board of Rocket Fuel Inc. has approved your participation in the management retention agreement. |
6. | Employee benefits. As an employee of the Company, you may be eligible to participate in certain Company-sponsored benefits, any details of which will be provided to you. |
7. | Probationary period. Your employment will be subject to satisfactory completion of a 6 month probationary period during which your employment may be terminated on 1 month’s notice by either you or the Company. |
8. | Notice. Following successful completion of your probationary period, you will be entitled to receive or be required to give a minimum of 6 months' notice to terminate your employment. |
9. | Holiday. You will be entitled to 25 days' holiday in each holiday year. In addition, you are entitled to the usual public holidays in England and Wales. |
10. | Place of work. Your principal place of work will be at our offices in central London. You will be required to travel both within and outside of the United Kingdom as shall be necessary for the proper performance of your duties, including but not limited to the Company's head office in the US. |
(a) | all information supplied by you to the Company being true and complete; |
(b) | you signing and returning a contract of employment; |
(c) | the Company receiving satisfactory results in respect of any background checks undertaken against you; |
(d) | you providing proof of any professional qualifications that you have declared on your CV. This will include copies of any certificates/diplomas or awards you may have; |
(e) | you producing to the Company your passport or such other documentation as we may require evidencing your right to remain and work in the United Kingdom (which we shall then copy and return to you). If you do not hold a British passport or a passport from a country within the EEA or a passport from a non-EEA country which gives you the right to work in the UK, the Company will need to see one or more additional documents. If this is the case then please let us know and we will inform you what documents you will need to provide. If you are subject to immigration restrictions on working in the UK this offer and your continuing employment are also subject to you possessing the necessary permissions to work in the UK. In the event that such permissions lapse or expire your employment will be automatically terminate without the need for notice. |
(a) | you will not be accepting this offer in reliance on any representation not expressly set out in this offer letter; and |
(b) | you have no previous convictions and have not previously been reported for or been subject to investigation for fraud or bribery related offences including without limitation, offences under the Bribery Act 2010. |
Signed: | /s/ David Gosen | ||
Date: | 5th May 2016 | ||