Sonos reserves the right to change its discretionary bonus criteria from time to time based on company performance. In addition, you must commence employment prior to August 31 to be eligible to receive a pro-rated discretionary bonus for the current fiscal year which runs October to September. Bonus Eligibility You will also be eligible for a discretionary target 25% bonus of your annual base salary, which is based solely on the company’s performance against its annual target for revenue growth and operating profit. The sign-on bonus will be paid to you on the first payroll period following your start date as detailed below. Sign-On Bonus After you commence employment with Sonos, you will receive a sign-on bonus in the gross amount of $21,000.00. Your Base Salary shall be subject to all of the required and elected taxes and withholdings. Base Salary If you decide to join Sonos, you will be paid an initial annual salary of $350,000 (your “Base Salary”), which will be paid semi-monthly in accordance with Sonos’ normal payroll practices as established or modified from time to time. You should read this offer letter and the attached Employee Agreement carefully. The Employee Agreement describes additional material terms and conditions of your employment. Attached to this letter is an Addendum A which contains the “Employee Agreement”. This letter outlines information related to your compensation and benefits. DocuSign Envelope ID: 198F7EAC-55EF-4C48-B93C-0F9ED69036DE DecemDear Eddie: We’re thrilled to offer you a position with Sonos! In the exempt position of General Counsel you’ll be based in our Santa Barbara office reporting to Patrick Spence, the Chief Executive Officer.
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