{"id":38941,"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-ariba-inc-and-james-steele.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"employment-agreement-ariba-inc-and-james-steele","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/employment-agreement-ariba-inc-and-james-steele.html","title":{"rendered":"Employment Agreement &#8211; Ariba Inc. and James Steele"},"content":{"rendered":"<pre>January 22, 2001\n\n\nMr. James Steele\n210 Forrester Road\nLos Gatos, CA  95030\n\nDear Jim:\n\nOn behalf of Ariba, Inc. I am pleased to extend this invitation to you to join\nAriba in the capacity of Executive Vice President Worldwide Sales and Service.\nThe Ariba team is very impressed with your qualifications and believes that\nattracting outstanding individuals like you is key to our success.\n\nYour base pay as Executive Vice President Worldwide Sales and Service initially\nwill be $25,000.00 per month payable in arrears in two equal portions on the\n15th and last working day of each month. You will be eligible to participate in\nthe FY2001 Executive Bonus Plan. Under this plan you will receive a cash bonus\nthat is targeted at $300,000.00 on an annualized basis depending on the\ncompletion of specific goals and objectives.\n\nSubject to the approval of Ariba's Compensation Committee, you will be granted\nan option to purchase 875,000 shares of Ariba's Common Stock (the \"First\nOption\"). The exercise price per share will be equal to the fair market value\nper share on the date the First Option is granted or on your first day of\nemployment, whichever is later. The First Option will be subject to terms and\nconditions substantially similar to those applicable to options granted under\nAriba's 1999 Equity Incentive Plan, as described in that Plan and the applicable\nstock option agreement. The First Option will become exercisable for 25% of the\nFirst Option shares after 12 months of continuous service and the balance in\nequal monthly installments over the next 36 months of continuous service, as\ndescribed in the applicable stock option agreement.\n\nSubject to the discretion of Ariba's Compensation Committee, you will be granted\nan option to purchase 100,000 shares of Ariba Common Stock (the \"Second Option\")\nat a future date. The exercise price per share will be equal to the fair market\nvalue per share on the date the Second Option is granted. The Second Option will\nbe subject to terms and conditions substantially similar to those applicable to\noptions granted under Ariba's 1999 Equity Incentive Plan, as described in that\nPlan and the applicable stock option agreement. However, the Second Option may\nvest on an accelerated basis if so determined by the Compensation Committee on\nthe date of grant.\n\nYou will be provided with benefit choices, including medical, dental, vision,\nlife and disability insurance coverage for you and your dependents, as well as\nparticipation in the 401(k) and Employee Stock Purchase plans. The provisions of\nthese and other benefits offered by Ariba are explained more fully in the\nenclosed Employee Benefits Summary. To aid in the timely processing of your\nbenefits enrollment form, it is important that you complete and sign the\nenclosed Personal Data form, omitting the Qualifying Life Change section and\nreturn it with your signed offer letter.\n\nYou will be required to sign the Ariba Employee Agreement. In this document you\nwill be asked to agree to the following: 1) to hold the Company's proprietary\ninformation confidential during and \n\n \nJames Steele\nJanuary 22, 2001\nPage 2\n\n\nafter employment; 2) that you have not brought any former Employer's proprietary\ninformation or any of their clients' proprietary information with you; and 3)\nthat you will agree to assign to the Company any patentable inventions that you\ncreated through your work with the Company.\n\nEmployment with Ariba is for no specific period of time. As a result, either you\nor Ariba may terminate your employment at any time for any reason, with or\nwithout cause. This is the full and complete agreement between you and the\ncompany regarding this term. This at-will employment relationship may only be\nchanged in a document signed by both you and Ariba's Chief Executive Officer.\n\nAs required by federal law, Ariba must verify that its employees are eligible to\nwork in the United States. On your first day of employment, you will be required\nto certify that you are a citizen or lawful permanent resident or an alien\nauthorized to work in the U.S. Please bring your Employment Eligibility\nVerification (Form I-9) and acceptable supporting documents (as listed on the\nreverse side of the I-9 Form) to your first day of work. If you expect to have\nany difficulty in producing these documents, please contact our Human Resources\nDepartment prior to your employment to discuss alternative suitable\ndocumentation. Ariba understands that you may need to obtain an employment visa\nto undertake this employment. In the event your employment needs visa\nsponsorship, your employment is contingent upon you receiving the appropriate\nvisa petitions through the Immigration and Naturalization Service.\n\nUpon acceptance, please sign both copies of the Offer Letters and Employee\nAgreements. Retain one copy each for your personal records. Please return one\nsigned and completed copy of the Offer Letter, Employee Agreement, and Personal\nData form to the Ariba Talent Acquisition Department in the envelope provided.\nPlease note that these documents must be received, by mail or fax, prior to your\nstart of employment with Ariba. This letter supersedes any prior representations\nor agreements written, verbal or otherwise regarding the terms described above.\nThis offer will remain open for five days from the date of this letter.\n\nJim I am looking forward to working with you in continuing to build a company\nthat provides great value to its customers and employees. I believe that you\nhave much to offer and much to gain - personally, professionally, and\nfinancially - in sharing this exciting opportunity.\n\nSincerely,\n\n\/s\/ Larry Mueller\n\nLarry Mueller\nPresident &amp; COO\nAriba, Inc.\n\nAccepted:\n\/s\/ James W. Steele                                  1-22-01                    \n---------------------------------------------        ---------------------------\nJames Steele                                                  Date\n\nPlanned start date:       2-05-01\n                    -------------------------\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[6749],"corporate_contracts_industries":[9513],"corporate_contracts_types":[9539,9544],"class_list":["post-38941","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-ariba-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\/38941","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=38941"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=38941"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=38941"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=38941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}