Severance Agreement And General Release Page 7
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10EXHIBIT A
SECOND SEVERANCE AGREEMENT AND GENERAL RELEASE
The following is an agreement between Kim Niederman (referred to as Mr.
Niederman or you ), and 8x8, Inc. (referred to as 8x8 ), regarding Mr. Niederman s
termination of employment with 8x8.
1.
Employment Termination. Your employment with 8x8 terminated
effective April 21, 2014 ( Termination Date ). You acknowledge that on or prior to
April 21, 2014, 8x8 paid you all monies owed for work performed on or prior to April 21,
2014, including but not limited to, any accrued but unused PTO.
2.
Severance Agreement and Offer. On ____________, 2013 you signed the
Severance Agreement and General Release ( Severance Agreement) between you and
8x8, which provided that you would be eligible for Severance Pay in the total gross
amount of $117,500.00, less appropriate deductions for federal and state withholding and
other applicable taxes and regular deductions, payable in two lump sums of gross
$58,750.00. You acknowledge that 8x8 remitted the First Severance Payment you on
_______________. The Second Severance Payment is/was contingent upon: (1) your
complying with all of your duties and obligations under the Severance Agreement and (2)
your signing a Second Severance Agreement and General Release ( Second
Agreement ).
This Agreement is the Second Agreement.
The Second Severance
Payment shall be made with 10 business days after the Revocation Period in Paragraph
14 below expires.
3.
401k Plan. Your rights and obligations under any applicable ERISA 401K
plan and any other ERISA retirement plan(s) and any loans extended thereunder shall be
in accordance with the written terms of the plan(s) and applicable law.
4.
Stock Options. Your rights and obligations under any applicable stock
option grants or plan(s) shall be in accordance with the written terms of the grants,
plan(s) and applicable law.
5.
Benefits & Insurances Cease.
Other than those items specified in
Paragraphs 1-4, you will receive no other wages, benefits or other monies of any nature
from 8x8. Your health and other insurance benefits shall cease effective April 30, 2014.
However, after the Termination Date, you may have the right to extend your health
insurance at your cost under the COBRA law beyond that paid for by 8x8.
6.
Confidential Information, Non-Disclosure and Invention Assignment
Agreement. After the Termination Date, you continue be bound to the Confidential
Information, Non-Disclosure and Invention Assignment Agreement ( NDA ), which you
signed on February 7, 2011, and which shall remain in full force and effect, except that
you shall have the right to retain any intellectual property that you develop after the
Termination Date.
Page 1 of 4
K.N. __________
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