{"id":38872,"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-kreysar.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"employment-agreement-accrue-software-inc-and-richard-kreysar","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/employment-agreement-accrue-software-inc-and-richard-kreysar.html","title":{"rendered":"Employment Agreement &#8211; Accrue Software Inc. and Richard Kreysar"},"content":{"rendered":"<pre>\nJune 16, 1998\n\n\nMr. Richard Kreysar\n110 Tuscarry Way\nDanville, CA 94506\n\nDear Rick:\n\nOn behalf of Accrue Software Inc., I am pleased to offer you the position of\nPresident and Chief Executive Officer, reporting to the Board of Directors.  In\naddition to your role of CEO, you'll also be elected to serve as a Director.\nYour annual salary will be $200,000. In addition, you will receive the\ncompany's standard employee benefit package.\n\nYou will also be eligible for an annual bonus equal to up to one half of your\nsalary upon achievement of plan, with additional uncapped upside based on\nrevenue achievement above plan. This bonus will be based on achievement of\nspecific milestones. The milestones will be proposed by you by January of each\nyear (or within 45 days of your start date in the first year), and will be\nnegotiated and approved by the Board of Directors.\n\nIn addition, Accrue is offering you an option to purchase Common Stock\nrepresenting 8 1\/4% of the fully diluted Accrue shares outstanding, post the\ncurrent round of financing. The exercise price of the option will be equal to\nthe fair market value of Accrue's Common Stock on the date the Board grants\nyour stock option. Your option will commence vesting upon your start of\nemployment and is contingent on continued employment. After the first year of\nemployment, 1\/4 of the shares will vest and thereafter, 1\/36 of the remaining\nshares will vest each month. This grant, which is immediately exercisable, will\nbe subject to a Repurchase Agreement, which lapses according to the vesting\nschedule. If you leave the Company, the terms and conditions of this repurchase\nare specified in the Company's Stock Option Agreement. Furthermore, Accrue will\noffer you a full-recourse note to facilitate your participation in such a stock\npurchase, with details to be defined in an amendment to our Stock Option Plan.\n\nShould Accrue undergo a change of control, your vesting in this option would be\naccelerated by one year. In addition, in the event of a change of control,\nshould your employment and as a result of termination other than for cause, or\nas a result of 'constructive termination,' vesting would be accelerated by an\nadditional year.\n\nShould your job be terminated involuntarily for any reason other than 'for\ncause,' your salary, benefits, and stock option vesting will continue for six\nmonths beyond the date of termination, or one year from your date of hire,\nwhichever is later.\n\nWhen Accrue offers to sell preferred stock to other investors, you will be\noffered the opportunity to purchase that same series of stock, at the same\nprice, to maintain your pro rata equity position (or less, at your discretion)\nin the Company.\n\n\n\nThis offer of employment is contingent upon your completing, signing, and\nreturning to us, this offer letter. You will also be asked to sign a\nNon-Disclosure Agreement and a Proprietary Information Agreement as part of\nyour new hire orientation. For purposes of federal immigration law (Immigration\nReform and Control Act of 1986) you are also required to provide documentary\nevidence of your eligibility for employment in the United States.\n\nFurther, your employment with Accrue is 'at will' and may be terminated by\neither the employee or employer at any time, for any reason. Nothing in this\noffer is to be construed as a contract of employment for any specific length of\ntime. Except for the Non-Disclosure Agreement and the Proprietary Information\nAgreement and any rights in employee benefits generally offered to employees of\nAccrue, this offer represents the entire agreement related to your employment\nwith Accrue and supersedes all prior or contemporaneous oral or written\ncommunications and representations.\n\nExcept for injunctive proceedings against unauthorized disclosure of\nconfidential information, any and all claims or controversies between you and\nAccrue, including but not limited to any claim based in tort, contract or\nemployment discrimination or any claim based on any federal or state\nregulation, shall be settled by arbitration in accordance with the then\ncommercial arbitration rules of the American Arbitration Association. The\nlocation of the arbitration shall be San Jose, California.\n\nRick, we are pleased to welcome you to Accrue Software, Inc. All of the team\nmembers that have met you, our investors, and especially myself, are excited\nabout working with you. Please signify your acceptance of our offer by signing\nbelow and returning this letter to me, no later than Wednesday, June 17th.\n\nSincerely,\nACCRUE SOFTWARE, INC.\n\n\n\/s\/ JOHN FEIBER         \n----------------------------------- \nJohn Feiber, Mohr Davidow Venturas  \n\nAcknowledged receipt and accepted offer:\n\n\/s\/ RICHARD KREYSAR                    Richard Kreysar\n-----------------------------------    -----------------------------------------\nName, Signature                        Name, Printed\n\n6\/17\/98\n-----------------------------------\nToday's Date\n\n6\/22\/98\n-----------------------------------\nStart 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-38872","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\/38872","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=38872"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=38872"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=38872"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=38872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}