{"id":39716,"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-webvan-group-inc-and-gregory-beutler.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"employment-agreement-webvan-group-inc-and-gregory-beutler","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/employment-agreement-webvan-group-inc-and-gregory-beutler.html","title":{"rendered":"Employment Agreement &#8211; Webvan Group Inc. and Gregory Beutler"},"content":{"rendered":"<pre>\n                        [WEBVAN GROUP, INC. LETTERHEAD]\n\n\n\n\nAugust 19, 1999\n\nGregory Beutler\n503 Manorbrook Drive\nChagrin Falls, OH  44022\n\nDear Greg:\n\nWe are very pleased to extend you an offer to serve as Vice President of\nMerchandising for Webvan Group.\n\nWe at Webvan Group believe that your skills, experience, and personal attributes\nwill enable us to be a leader in the development of this internet commerce\ncompany.\n\nThis letter serves as an offer of employment to you from Webvan Group. The terms\nof the offer supersede all prior oral and written communications between you and\nWebvan Group or any representative thereof. Please sign this offer letter and\nhand deliver or return by FAX (650-524-2933).\n\nPOSITION\n\nYour job title will be Vice President of Merchandising.\n\nEFFECTIVE DATE\n\nYour first date to report to work at Webvan Group, 1241 E. Hillsdale Blvd.,\nSuite 210, Foster City, CA 94404, will be August 30, 1999.\n\nDUTIES\n\nYou will report to Kevin Czinger, SVP of Corporate Operations &amp; Finance. Your\nprimary responsibility will be to manage Webvan Group's merchandising domain,\nalong with other duties as assigned.\n\nSALARY\n\nYour salary shall be $15,000.00 per month. This salary shall be paid bi-weekly.\nYour salary shall be reviewed each January on an annual basis in accordance with\nreview procedures established by the Webvan Group Associate Handbook. In\naddition, you\n\n\n\nwill receive a \"sign-on\" bonus of $50,000.00, payable within two weeks of your\nEffective Date. In the event that your employment with Webvan Group is\nterminated voluntarily, by you, prior to February 28, 2000, you agree to\nreimburse Webvan Group for the full amount of this \"sign-on\" bonus ($50,000.00).\nIn addition, you will receive the amount of any Pre-Paid Tuition paid by you and\nnot refunded to you up to a maximum of $18,000 upon presentation of receipts\nevidencing such payment(s), provided that you agree to use your best efforts to\npursue the refund (and non-payment) thereof. Such amount shall be payable with\nthe pay check following the date on which you advise Webvan Group that you have\nbeen unsuccessful in obtaining a refund of (or not paying any additional)\nPre-Paid Tuition. \"Pre-Paid Tuition\" means any portion of tuition for the\n1999-2000 school year paid by you prior to the date hereof (together with any\nadditional portion of such tuition required to be paid by you hereafter pursuant\nto legally binding commitments) to private educational institutions in which you\nhave enrolled your children.\n\nINCENTIVE PLAN\n\nYou shall be granted a stock option (the \"Option\") to purchase 187,500 shares of\nWebvan Group's common stock at an exercise price determined by the Board of\nDirectors on your date of grant. The Board of Directors of Webvan Group recently\ndeclared a 3 for 2 stock split, which will become effective upon certain\nadditional future corporate action. If the split has become effective prior to\nthe time at which the Board of Directors grants your option (which grant date\nwill occur after your employment commences), the aforementioned number of stock\noptions to be granted to you, 187,500, will be adjusted (to 281,250) to reflect\nthe correct number of options following the stock split. The Option shall vest\nat the rate of eight and one-third percent of the shares subject to Option each\nthree months beginning after twelve months from the date of grant, so that 100%\nof the Option shall be vested after four years, subject to your continued\nfull-time employment with the Company as of each vesting date. Except as\nspecified herein, the Option is in all respects subject to the terms and\nconditions of the 1997 Stock Plan (the \"Stock Plan\") and standard form of option\nagreement (the \"Option Agreement\").\n\nYou shall also be granted a stock option (the \"Additional Option\") to purchase\nan additional 62,500 shares of Webvan Group's common stock at an exercise price\ndetermined by the Board of Directors on the date of grant. The Board of\nDirectors of Webvan Group recently declared a 3 for 2 stock split, which will\nbecome effective upon certain additional future corporate action. If the split\nhas become effective prior to the time at which the Board of Directors grants\nthe \"Additional Option,\" the aforementioned number of stock options to be\ngranted to you, 62,500, will be adjusted (to 93,750) to reflect the correct\nnumber of options following the stock split. The Additional Option shall vest\nimmediately on your employment commencement date. In the event that your\nemployment with Webvan Group is terminated voluntarily, by you,\n\n\n\nprior to August 30, 2000, (1) the Additional Option, to the extent not then\nexercised, shall terminate as of the date of termination of your employment and\n(2) any shares purchased by you pursuant to an exercise of the Additional\nOption, which shall be subject to restrictions on sale by you prior to such\ndate, shall be subject to the Company's right to repurchase such shares at the\nprice paid therefor by you.\n\nBENEFITS\n\nYou will receive the standard benefits for full-time Associates at Webvan Group.\nThese standard benefits are listed and explained in the Webvan Group Associate\nHandbook, administered via TriNet Employer Group. A copy of the policies and\nbenefits section of the handbook will be provided for your information.\n\nIn addition, Webvan Group makes available a 401(k) plan to all employees at the\nbeginning of the month following Employee's date of hire. Eligible Employees may\nelect to contribute up to 15% of their salary to the 401(k) plan, subject to the\nlegal maximum per year. The company will match 100% of the first $500 and 25%\nthereafter up to a maximum Employer match of $2,000 per year of qualifying\nEmployee contributions. Further details will be provided in the 401(k) Plan\nHandbook at the time of enrollment.\n\nNON-DISCRIMINATION\n\nWebvan Group is an equal-opportunity employer, and will not discriminate against\nits employees or applicants in any employment decision or practice because of\nrace, color, religion, sex, national origin, marital status, pregnancy, age,\nancestry, physical handicaps, or medical condition.\n\nPROPRIETARY INFORMATION\n\nYou will be required, as a condition of employment, to sign a Proprietary\nInformation Agreement. A sample Proprietary Information Agreement is attached\nhereto.\n\nOUTSIDE WORK\n\nAll Webvan Group Associates are expected to devote their full energies, efforts,\nand abilities to their employment. Accordingly, full-time Associates are not\npermitted to accept outside employment on a full-time or part-time basis without\nfirst obtaining their supervisor's written approval.\n\nAT-WILL EMPLOYMENT\n\nThe relationship between you and Webvan Group will be for an unspecified term\nand will be considered at will. No employment contract is created by the\nexistence of any policy, rule or procedure in the Webvan Group Associate\nHandbook, any Webvan\n\n\n\nGroup document, or any verbal statements made to you by representatives of\nWebvan Group. Consequently, the employment relationship between you and Webvan\nGroup can be terminated at will, either by you or Webvan Group, with or without\ncause or advance notice.\n\nIn the event that your employment with Webvan Group is terminated without cause,\nWebvan Group agrees that you will receive six months salary and benefits as\nseverance. In addition to this six month severance package, you will continue to\nreceive full salary and benefits for a period of up to another six months or\nuntil subsequent employment is obtained.\n\nPERSONNEL POLICIES\n\nWebvan Group has an Associate Handbook. The policies in the Associate Handbook\ngovern the relationship between Webvan Group and its Associates. The policies\nare hereby incorporated by reference. Acceptance of this offer binds the offeree\nto follow the policies.\n\nThis offer is contingent on compliance with the Immigration Reform and Control\nAct of 1986, which requires the company to verify that each employee hired is\nlegally entitled to work in the United States. Enclosed is a copy of the\nEmployment Verification form I-9, with instructions, as required by such act.\nPlease review and execute this document and be prepared to bring the appropriate\ndocumentation on the day you first report to work.\n\nWe look forward to your favorable consideration of this offer and to the\ncommencement of a long and rewarding relationship.\n\nSincerely,\n\n\/s\/ KEVIN R. CZINGER\n------------------------\nKevin Czinger\nSVP, Corporate Operations &amp; Finance\n\nI hereby acknowledge that I have reviewed the terms and conditions of this offer\nof employment and have had the opportunity to consult with counsel. I hereby\naccept the offer of employment upon the terms and conditions contained in this\nletter.\n\nAccepted:  \/s\/ GREGORY S. BEUTLER        Date: August 21, 1999\n         ---------------------------          --------------------------\n         Gregory S. Beutler\n\n\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[9307],"corporate_contracts_industries":[9499],"corporate_contracts_types":[9539,9544],"class_list":["post-39716","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-webvan-group-inc","corporate_contracts_industries-retail__food","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\/39716","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=39716"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=39716"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=39716"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=39716"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}