Exhibit 10.12
DOORDASH, INC.
June 25, 2019
Shona Brown
Dear Shona:
I am excited to offer you a position as a director to serve on the Board of Directors (the “Board”) of DoorDash, Inc. (the “Company”). We appreciate your willingness to accept this position, and we look forward to your valuable contributions. This offer is subject to the successful completion of a background check to the Company’s satisfaction, which will be initiated as soon as possible.
Subject to Board approval, you will be granted 10,542 restricted stock units (“RSUs”), each representing the right to receive one share of the Company’s common stock. The RSUs will be subject to the terms and conditions applicable to restricted stock units granted under the Company’s 2014 Stock Plan, as amended (the “Plan”), as described in the Plan and the applicable Restricted Stock Unit Agreement. Your RSU award will be subject to two vesting conditions, both of which must be satisfied in order for the RSUs to vest: (1) a requirement that you provide service to the Company over approximately four years (the “service-based requirement”), which will be satisfied in equal monthly installments following the commencement of your service to the Company, and (2) a requirement that the Company complete either an initial public offering or a sale event during the 7-year term of the RSUs, each as described in more detail in the applicable RSU Agreement. In addition, if the Company is subject to a “change in control” (as defined in the applicable Restricted Stock Unit Agreement) before your service terminates, the service-based requirement will be satisfied in full.
We will also reimburse you for reasonable expenses that you incur in connection with attendance at meetings of the Board, or committees of the Board, in accordance with the Company’s generally applicable reimbursement policies. We will review our compensation policy for Board members in the event of an initial public offering.
We plan to have at least one scheduled Board meeting each calendar quarter. As a Board member, you are responsible for attending these scheduled meetings in person or, in the instances where in person attendance is not possible, by telephone.