Sample Business Contracts

Employment Agreement - Plumtree Software Inc. and Eric Borrmann

Employment Forms

  • Employment Agreement. Employers can customize an employment agreement that states the salary, benefits, working hours and other important provisions for their new or existing employee.
  • Consulting Agreement. Answer simple questions to build a contract with a consultant. Specify the services rendered, when payment is due, as well as IP rights.
  • Commission Agreement. Employers who compensate their sales employees based on commissions can prepare an agreement to reduce misunderstandings by specifying the base salary and how commissions are calculated.
  • Executive Employment Agreement. Companies may offer their business executives a contract that is different from the one provided to their regular employees. Executive employment agreements may be more complex because the compensation structure may include a combination of salary and commissions, provide for bonuses based on sales, stock or other financial targets, and include non-compete, confidentiality and severance provisions.
  • Sales Representative Contract. Independent sales representatives offer companies the potential to increase the sale of products or services without the burden of increasing headcount. Both parties should understand how commissions are calculated, when commissions will be paid, as well as how the representative will treat confidential information from the company and whether the representative may also sell a competing line of products or services.
  • More Employment Agreements

Sponsored Links

June 23, 2000

Mr. Eric Borrmann
9520 MacDonald Court
Pleasanton, CA 94588

Dear Eric:

I am very pleased to extend an offer for you to join Plumtree Software as Chief
Financial Officer, reporting to the Chief Executive Officer. You will be
responsible for the overall finance and administration organization. This will
include, but not be limited to, accounting, treasury, investor relations,
information systems, legal, human resources, real estate and other executive
level tasks that leverage your skills. As discussed, your start date will be no
later than July 17th of 2000.

We have structured a compensation package that consists of five components:
salary, bonus, equity, severance and benefits:

1.   Salary

     Base salary of $180,000 paid according to standard company payroll policy.

2.   Bonus

     Your bonus, upon attainment of corporate plans, objectives and target
     revenue plan, will be $40,000. This will be paid on a quarterly basis and
     pro-rated for 2000. The specific objectives and target plan will be
     mutually agreed upon by your and the Chief Executive Officer at a later

3.   Equity

     You will be granted options to purchase 400,000 of Plumtree Software's
     outstanding common stock, subject to Board approval at the next Board of
     Directors meeting. The terms and conditions of this issuance shall be
     governed by Plumtree Software's standard stock option plan. Your options
     will vest over a four (4) year period, with twenty five percent of such
     options vesting upon your first year of employment with the Company.
     After your first year the remaining shares vest 1/36th each month
     thereafter for three (3) years.

4.   Severance & Change of Control

     Although we hope that the employment relationship will be mutually
     satisfactory, your employment with Plumtree Software is 'at will.' If
     employment is terminated by the Company without cause, within your first
     year of employment, your will receive 12 months of base salary
     continuation. If employment is terminated by the Company without cause
     following your one year anniversary with the Company, you will receive 6
     months of base salary continuation.

      In the event of a change of control of the Company and if you lose job
      responsibility as a result of the change of control, 50% of the then
      unvested shares shall immediately vest.

6.    Benefits

      The Company provides a comprehensive health plan to its employees. A copy
      of the complete medical plan will be sent to you at a later date.

This letter set forth, fully, all understandings and agreements between you and
Plumtree Software regarding your employment. Please acknowledge your
acceptance of our offer by signing and dating this letter and returning it to
me no later than June 23, 2000. A copy is being sent to your house for your

Eric, I think Plumtree Software is an excellent opportunity for you to leverage
your background and abilities to build an incredibly successfully company. The
Board of Directors and I look forward to partnering with you to achieve both
your personal and professional goals at plumtree Software.


/s/ JOHN KUNZE                        /s/ ERIC BORRMANN
----------------------------          ---------------------------------
    John Kunze                            Erick Borrmann
    Chief Executive Officer
    Plumtree Software

Date    6/23/00                       Date    6/23/00
    ------------------------              -----------------------------