{"id":38871,"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-richard-j.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"employment-agreement-accrue-software-inc-and-richard-j","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/employment-agreement-accrue-software-inc-and-richard-j.html","title":{"rendered":"Employment Agreement &#8211; Accrue Software Inc. and Richard J. D&#8217;Angelo"},"content":{"rendered":"<pre>\nSeptember 19, 2001\n\nRichard J. D'Angelo\n14655 Oak Street #3\nSaratoga, CA  95070\n\nDear Rich:\n\nOn behalf of Accrue Software, Inc., I am pleased to offer you the position of\nVice President of Sales, reporting to me. The effective date of this appointment\nis October 1, 2001.\n\nYour salary will be $200,000.00 annually and paid bi-weekly. Your salary will be\npayable in accordance with the Company's standard payroll policies. You will\nalso be eligible for a target commission of $150,000, paid quarterly. The\nCompany will guarantee the first four months of this commission, if you are\nemployed with the Company through your first four months of your employment. You\nwill be covered by the company's benefit program and the provisions of these\nprograms.\n\nYou will be granted an incentive stock option to purchase 225,000 shares of\nCommon Stock exercisable at the fair market value on the date of grant by the\nCompany's Board of Directors. You will be granted for an additional incentive\nstock option to purchase 50,000 shares of common stock after 12 months of\nemployment if you meet at least 90% of your commission target goals. The option\nwill become exercisable at the rate of 33% of the shares one year after your\ncommencement of employment and 2.78% of the shares subject to the option each\nmonth thereafter, so that at the end of three years, the option will be fully\nvested provided you remain an employee of the Company. The option will be\nsubject to approval and grant by the Company's board of directors, which will\noccur at the first regular board meeting following the commencement of your\nemployment, and the execution of the Company's standard Option Agreement under\nits 1996 Stock Plan. In the event you are terminated without cause, due to a\nChange of Control, there will be a 50% acceleration of vesting of your stock\noptions, in addition to what has been vested to date, and your salary and\nbenefits will continue for six months beyond the termination date.\n\nOur offer is conditioned upon your execution of the Accrue Software, Inc.\nProprietary Information and Inventions Agreement, and conditioned upon your\nability to provide and maintain proper and necessary visa and other employment\ndocumentation. In addition, you will abide by the Company's strict policy that\n\nprohibits any new employee from using or bringing with him or her from any \nprevious employer any confidential information, trade secret or proprietary \nmaterials from other employers.\n\nYour employment by Accrue Software, Inc. will be for an indefinite term and on\nan at-will basis. This means that Accrue Software, Inc. may terminate the\nemployment relationship at any time, with or without cause. This at-will\nrelationship may be changed only by a written agreement entered into for this\npurpose and signed by the Company's Chief Executive Officer. The other terms and\ncondition of your employment will be governed by various policies and programs\nof the Company, in writing and otherwise, and that those policies and programs\nmay be changed from time to time by the Company at its discretion. The voluntary\nat-will nature of your employment shall not be affected nor changed by any other\nemployment policies or programs the Company or may have, now or in the future.\n\nThis offer is contingent upon our completing a check of your references to our\nsatisfaction.\n\nPlease sign the bottom of this letter to indicate your acceptance of this offer\nand to confirm our agreement.\n\nAgain, let me express how pleased I am to be working with you.\n\n\n\nSincerely,\n\n\n\/s\/ Jeffrey S. Walker\n\nJeffrey S. Walker\nPresident and CEO\nAccrue Software, Inc.\n\n\n\nI, Richard J. D'Angelo, understand and accept the foregoing terms and conditions\nand hereby accept them as stated.\n\n\n\n\n\/s\/ Richard J. D'Angelo                           September 24, 2001\n------------------------                          --------------------\nSignature                                          Date\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-38871","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\/38871","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=38871"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=38871"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=38871"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=38871"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}