EMPLOYMENT AGREEMENT (Todd Pedersen)Employment Agreement • August 8th, 2014 • APX Group Holdings, Inc. • Services-miscellaneous business services • New York
To the extent actual performance falls between the levels of attainment set forth above, the actual Annual Bonus shall be calculated using straight line interpolation between such levels. For the avoidance of doubt, in no event will the actual Annual Bonus payable in respect of any performance period be greater than 2.5x the Base Salary at the end of the applicable performance period. The Annual Bonus, if any, shall be paid to Executive within two and one-half months after the end of the applicable fiscal year. Except as provided in Section 5, no Annual Bonus shall be payable in respect of any fiscal year in which Executive’s employment is terminated.
