Exhibit 10.15
March 21, 2016
Wolfgang Maasberg
[Address intentionally omitted]
Re: Employment Terms
Dear Wolfgang:
On behalf of Fastly, Inc. (“Fastly” or “the “Company”), we are pleased to offer you the position of Senior Vice President, Sales, under the terms set forth in this letter.
Duties and Reporting Relationship. You will report to Artur Bergman, CEO. You may be asked toperform other duties as our business needs dictate. Of course, the Company may change your position, reporting relationship, duties and work location from time to time in its discretion.
Base Salary. Your initial base salary will be at an annual rate of $325,000, subject to applicabledeductions and withholdings, and paid on the Company’s normal payroll schedule. As a full-time, salaried, exempt employee you will be expected to work the Company’s normal business hours and additional hours as required by your job duties, and you will not be eligible for overtime pay. The Company retains discretion to modify your compensation from time to time.
Commissions. In your position with the Company, you will also be eligible to earn commissions pursuantto the Company’s Sales Compensation Plan. If you meet 100% of the targets, your annual overallon-target-earnings (base salary plus commissions) will be $650,000. Through December 31, 2016, you will receive anon-recoverable draw at an annual rate of $325,000, in addition to your base salary. If the sales commissions you earn exceed your draw in any month in which you have a draw, you will receive only your earned commissions and will not receive your draw for the applicable month.
Work Location. You will be able to work remotely from your home office in Austin, TX. throughDecember 31, 2016 you will be expected to be present in the San Francisco office at least four (4) full business days per week, three (3) weeks per month. Beginning January 1, 2017, you will be expected to present in the San Francisco office at least three (3) full business days every two weeks, additional days as necessary forin-person attendance at management meetings, and as requested by the CEO.
Standard Benefits and Paid Time Off. You will be eligible to participate in all benefits which Fastlymakes generally available from to its regular full-time employees in accordance with the terms and conditions of the benefit plans and Company policies, including health insurance, dental insurance, paid time off and holidays. The Company reserves the right to modify or cancel any or all of its benefit programs at any time. Further details about Fastly’s benefit plans are available for your review in the benefit Summary Plan Documents.
Equity Compensation. Subject to the approval of the Company’s Board of Directors (the “Board”), youwill receive an option to purchase 1,165,197 shares of the Company’s common stock (the “Option”). The per unit exercise price will be equal to the per unit fair market value as of the date of the grant, as determined by the Board pursuant to the Company’s 2011 Equity Incentive Plan (the “Plan”). The Option will vest over a four year term under whichone-quarter of your Option will vest after twelve months of employment and the remainder of the Option will vest inthirty-six equal monthly installments thereafter, provided that you remain in continuous service with the Company during this time. If granted, any such Option shall be subject to the provisions of the Plan and applicable grant agreement. In addition, the Option, if granted, and any other options granted to you shall be subject to 100% “double trigger” acceleration substantially as provided in the Company’s standard Change of Control and Retention Agreement, a copy of which will be provided under separate cover.
