{"id":38869,"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-judson-groshong2.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"employment-agreement-accrue-software-inc-and-judson-groshong2","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/employment-agreement-accrue-software-inc-and-judson-groshong2.html","title":{"rendered":"Employment Agreement &#8211; Accrue Software Inc. and Judson Groshong"},"content":{"rendered":"<pre>\nNovember 28, 1999\n\n\nMr. Judson Groshong\n10710 North Tantau Avenue\nCupertino, CA    95014-0717\n\nDear Judson:\n\nOn behalf of Accrue Software, Inc. (the \"Company\"), I am pleased to offer you\nthe position of Director of Sales, reporting to Brett Kilpatrick, Vice President\nof Sales, starting on the effective date of the close of the acquisition by\nAccrue of NeoVista. Your compensation will be comprised of an $125,000.00 annual\nbase salary and an annual target commission of $75,000.00 for a total annual\ntarget compensation of $200,000.00 at 100% of your plan. Your salary will be\npayable in accordance with the Company's standard payroll policies (subject to\nnormal required withholding). You will be covered by the Company's standard\nbenefits package including health insurance and seventeen days paid time off per\nyear, pro-rated during 1999.\n\nYou have been granted as of September 9, 1999 a NeoVista Stock Option of 241,889\nshares which will convert into approximately 11,519 shares of Accrue Stock\nOptions. These options will vest on a monthly basis, beginning with the grant\ndate over four years.\n\nYou will be additionally granted an incentive stock option to purchase 14,000\nshares of Accrue Common Stock exercisable at the fair market value on the date\nof grant by the Company's board of directors. The option will become exercisable\nat the rate of 25% the shares one year after your commencement of employment and\n1\/48th of the shares subject to the option each month thereafter, so that at the\nend of four years, the option will be fully vested provided you remain an\nemployee of the Company. The option will be subject to approval and grant by the\nCompany's board of directors, which will occur at the first regular board\nmeeting following 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, due to a Change of Control, there will be a one\nyear acceleration of vesting in addition to what has been vested to date.\n\nOur offer to you is conditioned upon your execution of the Accrue Software, Inc.\nProprietary Information and Inventions Agreement, and conditioned upon your\nability to provide and maintain the proper and necessary visa and other\ndocumentation required for you and Accrue to comply with all applicable United\nStates immigration laws and regulations. In addition, you will abide by the\nCompany's strict policy that prohibits any new employee from using or bringing\nwith him or her from any previous employer any confidential information, trade\nsecret, or proprietary materials or processes of such employer.\n\nYour employment by Accrue will be for an indefinite term and on an \"at-will\"\nbasis. This means that Accrue may terminate the employment relationship at any\ntime, with or without cause. This \"at-will\" relationship may be changed only by\na written agreement entered into for this purpose and signed by the Company's\nChief Executive Officer. The other terms and conditions of your employment will\nbe governed by various policies and programs of the Company, in writing and\notherwise, and that those policies and programs may be changed from time to time\nby the Company in its discretion. The voluntary \"at-will\" nature of my\nemployment shall not be affected nor changed by any other employment policies or\nprograms the Company may have, now or in the future.\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\/s\/ Richard D. Kreysar\n\nRichard D. Kreysar\nPresident and CEO\nAccrue Software, Inc.\n\nI, Judson Groshong, understand the foregoing terms and conditions and hereby\naccept them as stated:\n\nSigned: \/s\/Judson Groshong                 Date: 2\/28\/01\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-38869","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\/38869","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=38869"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=38869"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=38869"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=38869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}