{"id":38948,"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-avantgo-inc-and-richard-owen.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"employment-agreement-avantgo-inc-and-richard-owen","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/employment-agreement-avantgo-inc-and-richard-owen.html","title":{"rendered":"Employment Agreement &#8211; AvantGo Inc. and Richard Owen"},"content":{"rendered":"<pre>\n\nDecember 4, 1999\n\nRichard Owen\n\nDear Richard:\n\n     On behalf of AvantGo, Inc. (the \"Company\"), I am pleased to offer you the\n                                      -------\nposition Chief Executive Officer of the Company. You will also be given a seat\non the Company's Board. Speaking for myself, as well as the other members of the\nCompany's Board of Directors, we all look forward to your future success in this\nposition.\n\n     The terms of your new position with the Company are as set forth below:\n\n     1.   Position.\n          -------- \n\n          (a)  You will become Chief Executive Officer of the Company. As Chief\nExecutive Officer. You will report to the Company's Board of Directors.\n\n          (b)  You agree to the best of your ability and experience that you\nwill at all times loyally and conscientiously perform all of the duties and\nobligations required of and from you pursuant to the express and implicit terms\nhereof, and to the reasonable satisfaction of the Company. During the term of\nyour employment, you further agree that you will devote all of your business\ntime and attention to the business of the Company, the Company will be entitled\nto all of the benefits and profits arising from or incident to all such work\nservices and advice, you will not render commercial or professional services of\nany nature to any person or organization, whether or not for compensation,\nwithout the prior written consent of the Company's Board of Directors, and you\nwill not directly or indirectly engage or participate in any business that is\ncompetitive in any manner with the business of the Company. Nothing in this\nletter agreement will prevent you from accepting speaking or presentation\nengagements in exchange for honoraria or from serving on boards of charitable\norganizations, or from owning no more than one percent (1%) of the outstanding\nequity securities of a corporation whose stock is listed on a national stock\nexchange.\n\n     2.   Start Date. Subject to fulfillment of any conditions imposed by\n          ----------                                                     \nthis letter agreement, you will commence this new position with the Company on\nor before February 1, 2000.\n\n     3.   Proof of Right to Work. For purposes of federal immigration law, you\n          ----------------------\nwill be required to provide to the Company documentary evidence of your identity\nand eligibility for employment in the United States. Such documentation must be\nprovided to us within three (3) business days of your date of hire. or our\nemployment relationship with you may be terminated.\n\n     4.   Compensation. You will be paid a monthly salary of $20,833.33, which\n          ------------\nis equivalent to $250.000.00 on an annualized basis. Your salary will be payable\nin two equal payments per month pursuant to the Company's regular payroll\npolicy.\n\n \n          In addition to your base salary, you will be eligible to receive up to\nan additional $100,000.00 annually in bonuses, half of which would be paid upon\nyour achieving objectives that are mutually agreed upon by you and the Board of\nDirectors. and half of which would be paid upon your exceeding those objectives,\nYour target annual cash compensation is $300,000.00.\n\n          You will also be eligible for retirement, medical and dental benefits\nunder the benefits plan provided by the Company for its employees.\n\n          The Company will also reimburse you for relocation expenses up to a\nmaximum of $100,000.00. If you voluntarily terminate your employment with the\ncompany, or if you are terminated for Cause, within 12 months of your start\ndate, you agree to reimburse the Company for the relocation expenses paid by the\nCompany on or before your final day of employment.\n\n          \"Cause\" shall mean (i) gross negligence or willful misconduct in the\nperformance of your duties to the Company that has resulted in or is likely to\nresult in substantial and material damage to the Company or its subsidiaries,\n(ii) repeated unexplained or unjustified absence from the Company, (iii) a\nmaterial and willful violation of any federal or state law, (iv) commission of\nany act of fraud with respect to the Company, or (v) conviction of a felony or a\ncrime involving moral turpitude causing material harm to the standing and\nreputation of the Company, in each case as determined in good faith by the Board\nof Directors of the Company.\n\n          5.  Common Stock Purchase Right. In connection with the commencement\n              ---------------------------                                     \nof your employment, the Company will recommend that the Board of Directors grant\nyou an option to purchase 1,800,000 shares of the Company's Common Stock\n(\"Shares\") under its 1997 Stock Option Plan, at a purchase price equal to the\n  ------                                                                     \nfair market value on the date of your acceptance of this offer as determined in\ngood faith by the Board of Directors of the Company. These Shares will be\nsubject to the Company's right of repurchase in the event of the termination of\nyour employment with the Company, This repurchase right will lapse as to 1\/4th\non the first anniversary of the date of grant and shall lapse as to 1\/48th of\nthe total number of Shares each month thereafter, The Company's repurchase right\nwill continue to lapse only so long as you continue to be employed by the\nCompany. The option will be an incentive stock option to the maximum extent\nallowed by applicable law and will be subject to the terms of the Company's 1997\nStock Option Plan and the Stock Option Agreement between you and the Company.\n\n          6.  Confidential Information and Invention Assignment Agreement. Your\n              -----------------------------------------------------------      \nacceptance of this offer and commencement of employment with the Company is\ncontingent upon the execution, and delivery to an officer of the Company, of the\nCompany's Confidential Information and Invention Assignment Agreement, a copy of\nwhich is enclosed for your review and execution (the \"Confidentiality\n                                                      ---------------\nAgreement\"), prior to or on your Start Date.\n---------\n\n          7.  Confidentiality of Terms. You agree to follow the Company's strict\n              ------------------------                                          \npolicy that employees must not disclose, either directly or indirectly, any\ninformation, including any of the terms of this agreement, regarding salary,\nbonuses, or stock purchase or option allocations to any person, including other\nemployees of the Company; provided, however, that you may discuss such terms\nwith members of your immediate family and any legal, tax or accounting\nspecialists who provide you with individual legal, tax or accounting advice.\n\n                                       2\n\n \n          8.  At-Will Employment. Your employment with the Company will be on an\n              ------------------   \n\"at will\" basis, meaning that either you or the Company may terminate your\nemployment at any time for any reason or no reason, without further obligation\nor liability.\n\nWe are all delighted to be able to extend you this offer until noon on December\n6, 1999 and look forward to working with you. To indicate your acceptance of the\nCompany's offer, please sign and date this letter in the space provided below\nand return it to me, along with a signed and dated copy of the Confidentiality\nAgreement. This letter, together with the Confidentiality Agreement, set forth\nthe terms of your employment with the Company and supersede any prior\nrepresentations or agreements, whether written or oral. This letter may not be\nmodified or amended except by a written agreement, signed by the Company and by\nyou.\n\n                                    Very truly yours,\n\n                                    AVANTGO, INC.\n\n                                    By: \/s\/ Felix Lin\n                                       --------------\n                                        \n                                    Title: Chief Executive Officer\n\nACCEPTED AND AGREED:\n\nRICHARD OWEN\n\n\/s\/ Richard Owen\n----------------\nSignature\n\nFeb 16, 2000\n------------\nDate\n\nEnclosure:  Confidential Information and Invention Assignment Agreement\n\n                                       3\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[6810],"corporate_contracts_industries":[9510],"corporate_contracts_types":[9539,9544],"class_list":["post-38948","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-avantgo-inc","corporate_contracts_industries-technology__programming","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\/38948","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=38948"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=38948"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=38948"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=38948"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}