EXHIBIT 10.38
July 18, 2006
Mr. Xxxx Xxxxx
[address]
Re: Amendment to Employment Agreement
Dear Xxxx:
In accordance with Section 9 of your January 4, 2005 Employment Agreement
with Akamai Technologies, Inc. (the "Company"), the following sets forth an
amendment thereto.
Section 5, second paragraph, is hereby amended in its entirety to read as
follows:
5. Termination of Employment.
If you terminate your employment for "Good Reason" following a
"Change of Control" as those terms are defined in the Initial Option
Agreement and any Additional Option Agreement (together, the "Option
Agreements"), in addition to any rights you have under the Option Agreements,
vesting of all outstanding unvested options held by you as of the termination
date shall automatically accelerate in full. You shall also be entitled to
lump sum cash payments equal to: two (2) years of your then-current
annualized base salary and an award equal to two (2) times your
then-applicable annual incentive bonus at target. For purposes of this
paragraph 5, "bonus at target" shall be as set forth in the terms of the
then-applicable annual incentive bonus plan. Provisions in restricted stock
unit agreements you have entered into with the Company that relate to the
effect of a termination of employment are not amended by this Section 5 and
shall continue in effect.
Except as set forth herein, the terms of the Employment Agreement, as
previously amended, remain in full force and effect, without amendment. Please
sign below to indicate your acceptance of the terms of this amendment to your
Employment Agreement.
Very truly yours,
AKAMAI TECHNOLOGIES, INC.
By: /s/ Xxxxxx X. Xxxxxxxx
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Xxxxxx X. Xxxxxxxx, Executive Chairman
I accept the foregoing amendment to my Employment Agreement with the
Company.
/s/ Xxxx Xxxxx
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Xxxx Xxxxx
Date: August 9, 2006
