Delaware
|
000-50327
|
93-1214598
|
(State
or other jurisdiction
|
(Commission
|
(IRS
Employer
|
of
incorporation)
|
File
Number)
|
Identification
No.)
|
3800 Bridge Parkway, Redwood
Shores, California
|
94065
|
|
(Address
of principal executive offices)
|
(Zip
Code)
|
|
(650)
232-4100
|
||
(Registrant’s
telephone number, including area code)
|
·
|
receive
an annual base salary of $250,000 per
year;
|
·
|
be
a participant in the iPass Executive Management Bonus Plan, with an annual
variable target bonus of $100,000;
|
·
|
receive
an option to purchase 200,000 shares of iPass common stock with an
exercise price equal to the fair market value of a share of common stock
on the date of grant;
|
·
|
receive
standard health and welfare
benefits;
|
·
|
receive
relocation benefits, including a relocation bonus of $20,000;
and
|
·
|
be
a participant in iPass’ Executive Corporate Transaction and Severance
Benefit Plan as a Tier 1
Participant.
|
·
|
six
months base salary;
|
·
|
one
quarter of 2009 target bonus; and
|
·
|
health
insurance coverage (COBRA) for Mr. Verdecanna and his dependents for up to
12 months (or earlier if he becomes a participant in another health
coverage plan).
|
·
|
six
months base salary;
|
·
|
one
quarter of 2009 target bonus; and
|
·
|
health
insurance coverage (COBRA) for Mr. Charters and his dependents
for up to 12 months (or earlier if he becomes a participant in another
health coverage plan).
|
iPass
Inc.
|
|||||
By:
|
/s/
Frank Verdecanna
|
||||
Name:
|
Frank
Verdecanna
|
||||
Title:
|
Vice
President and Chief Financial Officer
(Principal
Financial Officer)
|
||||