{"id":38863,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/employment-agreement-accrue-software-inc-and-brett-kilpatrick.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"employment-agreement-accrue-software-inc-and-brett-kilpatrick","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/employment-agreement-accrue-software-inc-and-brett-kilpatrick.html","title":{"rendered":"Employment Agreement &#8211; Accrue Software Inc. and Brett kilpatrick"},"content":{"rendered":"<pre>                                November 5, 1998\n\n\nMr. Brett Kilpatrick\n939 Wedgewood Court\nGlenview, IL  60025\n\n\n\nDear Brett:\n\n\nOn behalf of Accrue Software, Inc. (the 'Company'), I am pleased to offer you\nthe position of Vice President of Sales, reporting to me, starting on November\n10th, 1998. Your compensation will be comprised of an $150,000.00 annual base\nsalary and an annual target commission of $100,000.00 for a total annual target\ncompensation of $250,000.00 at 100% of your plan. In addition, we are offering a\n$8,333.34 'month-to-month non-recoverable draw' for your first 3 months, which\nwill be paid monthly and non-recoverable from that month's commission. You will\nbe covered by the Company's standard benefits package including health insurance\nand two weeks paid vacation per year, pro-rated during 1998. In the event of\nrelocation requirement, you and the 'Company' will agree to reasonable\nreimbursement for such relocation. If relocation becomes an issue that is\nunresolvable, Accrue agrees to vesting of an additional year to what has been\nvested to date.\n\nYou will be granted an incentive stock option to purchase 255,000 shares of\nCommon Stock exercisable at the fair market value on the date of grant by the\nCompany's board of directors. The option will become exercisable at the rate of\n25% the shares one year after your commencement of employment and 1\/48th of the\nshares subject to the option each month thereafter, so that at the end of four\nyears, the option will be fully vested provided you remain an employee of the\nCompany. The option will be subject to approval and grant by the Company's board\nof directors, which I expect will occur at the first regular board meeting\nfollowing the commencement of your employment, and the execution of the\nCompany's standard Option Agreement under its 1996 Stock Plan. In the event you\nare terminated without cause, because of a Change of Control, there will be a\none year acceleration of vesting in addition to what has been vested to date.\n\nYou will be required to sign the Company's standard Assignment of Inventions\nand Confidentiality Agreement prior to the initiation of your employment. In\naddition, you will abide by the Company's strict policy that prohibits any new\nemployee from using or bringing with him or her from any previous employer any\nconfidential information, trade secret, or proprietary materials or processes of\nsuch employer.\n\nYou will be an employee-at-will and your employment may be terminated at any\ntime by you or the Company, with or without notice, and with or without cause.\nThis Agreement constitutes the entire agreement between you and the Company and\nsupersedes all other agreements or understandings.\n\nThis offer will be held open for three (3) days. To accept please sign at the\nbottom of this letter.\n\nAgain, let me indicate how pleased we all are to extend this offer, and how much\nwe look forward to working together. Please indicate your acceptance by signing\nand returning the enclosed copy of this letter.\n\nVery truly yours,\n\n\n\/s\/ Richard D. Kreysar\n-----------------------------\nRichard D. Kreysar\nPresident and CEO\nAccrue Software, Inc.\n\n\nThe foregoing terms and conditions are hereby accepted:\n\nSigned: \/s\/ BRETT KILPATRICK                     Date: 11\/5\/98\n        ----------------------------------------       -------------------------\n\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[6556],"corporate_contracts_industries":[9513],"corporate_contracts_types":[9539,9544],"class_list":["post-38863","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-accrue-software-inc","corporate_contracts_industries-technology__software","corporate_contracts_types-compensation","corporate_contracts_types-compensation__employment"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/38863","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=38863"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=38863"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=38863"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=38863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}