{"id":38942,"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-michael-schmitt.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"employment-agreement-ariba-inc-and-michael-schmitt","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/employment-agreement-ariba-inc-and-michael-schmitt.html","title":{"rendered":"Employment Agreement &#8211; Ariba Inc. and Michael Schmitt"},"content":{"rendered":"<pre>                               [Ariba letterhead]\n\nFebruary 21, 2001\n\n\nMr. Michael Schmitt\n28 Cherry Hills Farm Drive\nCherry Hills Village, CO  80110\n\nDear Michael:\n\nOn behalf of Ariba, Inc. I am pleased to extend this invitation to you to join\nAriba in the capacity of Senior Vice President and Chief Marketing Officer. The\nAriba 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 Senior Vice President and Chief Marketing Officer initially\nwill be $20,833.34 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 $200,000.00 on an annualized basis depending on the\ncompletion of specific goals and objectives.\n\nAriba will also relocate you and your family from Colorado to our Mountain View\nHeadquarters. Please see the Ariba Relocation Policy attached.\n\nSubject to the terms of the Ariba, Inc. 1999 Equity Incentive Plan (the \"Plan\"),\nyou will be awarded the right to purchase 500,000 shares of the Company's Common\nStock. Options are normally priced at a meeting of the compensation committee of\nthe Ariba Board which generally meets monthly. Your option will be granted in\nthe month following your hire date. You may exercise this right subject to the\nterms of the Plan, a copy of which may be obtained from the Company.\n\nUpon approval, you will enter into an option agreement with the Company that\nspecifies the standard terms and conditions of this stock option. Three months\nfrom the vesting commencement date, you may exercise the option to purchase up\nto 3\/48th of the total number of shares. Thereafter, you may exercise 1\/48th of\nthe shares granted upon completion of each month of service. Should your\nemployment terminate for any reason, your option will cease to continue to vest\nas of your termination date and you may exercise any vested portion of your\nshares within 3 months of termination.\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 after employment; 2) that you have not\nbrought any former Employer's proprietary information or any of their clients'\nproprietary information with you; and 3) that you will agree to assign to the\nCompany any patentable inventions that you created through your work with the\nCompany.\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.\n\n \nMichael Schmitt\nFebruary 21, 2001\nPage 2\n\n\nThis is the full and complete agreement between you and the company regarding\nthis term. This at-will employment relationship may only be changed in a\ndocument 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\nMichael, I am looking forward to working with you in continuing to build a\ncompany that provides great value to its customers and employees. I believe that\nyou have much to offer and much to gain - personally, professionally, and\nfinancially - in sharing this exciting opportunity.\n\nSincerely,\n\nLarry Mueller\nPresident &amp; COO\nAriba, Inc.\n\nAccepted:\n\n\/s\/ Michael Schmitt                                  2\/22\/01           \n-----------------------------------                  ---------------------------\nMichael Schmitt                                      Date\n\nPlanned start day:         2\/26\/01\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-38942","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\/38942","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=38942"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=38942"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=38942"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=38942"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}