EMPLOYMENT TRANSITION AGREEMENTEmployment Transition Agreement • January 31st, 2005 • Dolby Laboratories, Inc. • Radio & tv broadcasting & communications equipment • California
This Employment Transition Agreement (the “Agreement”) is entered into as of this 26th day of January, 2005 by and between Dolby Laboratories, Inc. a Delaware corporation (collectively with its subsidiaries, the “Company”) and Janet Daly (“Employee” or “you”). The Company and you have agreed to define our continuing employment relationship and to resolve amicably any issues arising from our relationship. We have entered into this Agreement because you have informed the Company of your desire to step down as the Chief Financial Officer of the Company (“CFO”) and reduce your work load to part time. As a result, the Company and you have agreed you will not continue to serve as the CFO and that your tenure in that position will end no later than December 31, 2005. We have also agreed that this Agreement will be provided in its entirety as an addendum in the Company’s S-1 registration statement filed with the Securities and Exchange Commission (“SEC”). Notwithstanding your departure from th
