Employment Agreement - Informix Software Inc. and Gary Lloyd
January 19, 1998
Gary Lloyd
99 Lyford Drive, No. 45
Tiburon, California 94920
Dear Gary:
We are very pleased that you are considering joining us at Informix Software,
Inc. (Company). The purpose of this letter is to set forth our offer of
employment. We propose that you begin employment with Informix Software,
Inc. in the capacity of Vice President and General Counsel in our Menlo Park
office, reporting to Bob Finocchio, Chairman, President and Chief Executive
Officer.
Your salary, computed on an annual basis beginning on the date you become an
employee of the Company, will be $200,000 per year and shall be paid in equal
semi-monthly installments.
You will also participate in the Executive Incentive Compensation Plan in
1998 at a rate of 35%. Plan details will be provided under separate cover.
It will be recommended to the Board of Directors that you receive a
non-qualified stock option under the Informix Corporation Employee Stock
Option Plan to acquire 150,000 shares of the common stock of Informix
Corporation on terms and conditions to be determined solely by the Board of
Directors at the time of the grant, but subject to the change of control
provision that has been given to recently hired officers. You, of course,
will be under no obligation to exercise any stock options which may be
granted to you.
This offer of employment is contingent upon the following:
- Your signing of the Company's Employee Agreement for Nondisclosure of
Confidential Information, in the form attached.
- Your acceptance of this offer by signing this letter below.
- Your signing of the enclosed W-4 form.
- Within your first day of employment, you must provide for examination,
proof of your legal right to work in the United States and complete the
Immigration Form I-9 as required by the U.S. Immigration and Naturalization
Service. These include either 1) a U.S. passport, a U.S. certificate of
citizenship, a U.S. certificate of naturalization, an unexpired foreign
passport with attached employment authorization or an alien registration card
with photograph: OR 2) a state driver's license, a state I.D. card, a U.S.
military card AND a Social Security card or a U.S. birth certificate. If you
do not have proof of identification on the first day of employment, you will
be sent home to obtain the documents. You will not be placed on the payroll
until this form is completed by a Company representative. If for any reason
you are unable to provide proof of your identity as well as your legal right
to work in the United States within the first three days the Company may
terminate your employment. From time to time after your first day of
employment, you may be asked to provide proof of your identify as well as
your legal right of work in the United States.
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Page 2
Gary Lloyd
January 19, 1998
This offer of employment is not for any specific period of time and your
employment may be terminated with or without cause by yourself or the Company
at any time for any reason.
As an employee of Informix, you also agree to comply with company policies,
procedures and standards of conduct that may be established by the Company.
This offer of employment contains all of the terms and conditions of your
employment with the Company and supersedes any and all prior, oral or written
representations or agreements made by anyone employed by, or associated with,
the Company.
The terms of this offer, if accepted, will become your terms of employment
and can only be added to or modified by a written document signed by the Vice
President of Human Resources or the President of the Company.
I am looking forward to your acceptance of this offer. Please be advised
that this offer of employment is valid only to January 26, 1998. Please
acknowledge your acceptance by signing and dating this letter and returning
it to us before January 29, 1998. In addition, please complete the W-4 form
and return it to the Human Resources Department prior to beginning your
employment or no later than 3 days after your date of hire. Enclosed for
your convenience in making the return is a self-addressed envelope. Please
bring your I-9 form, required identification, and Non-Disclosure Agreement
with you on your first day of employment for verification and witnessing by
your manager.
Sincerely,
INFORMIX SOFTWARE, INC.
/s/ Robert J. Finocchio
-------------------------------
Bob Finocchio
Chairman, President and
Chief Executive Officer
Enclosures
1. Non-Disclosure Form
2. I-9 Form
3. W-4
4. Employee Handbook
AGREED ON THE 22ND DAY OF JANUARY, 1998
ANTICIPATED START DATE: JANUARY 26, 1998
SIGNED: /S/ GARY LLOYD
------------------------
Gary Lloyd