Employment Agreement - Roving Software Inc. and Gail F. Goodman
[Roving Software letterhead]
April 14, 1999
Gail F. Goodman
30 Burlington Road
Bedford, MA 01730
Dear Gail,
It is my pleasure to present you with this offer for employment with Roving
Software Inc. (the "Company"). We are excited about what the future holds for
the integration of direct marketing and Web commerce, and the opportunities
available to Roving to be a leader in that area. I am glad you are interested in
joining us, and all of us at Roving believe your talents will be quite valuable
to Roving in the pursuit of our goals.
Position You will be hired as Chief Executive Officer and will be
elected to the Board of Directors of Roving Software Inc.
Your start date will be April 5, 1999.
Compensation Your salary will be $4583.34 per pay period. Salary is paid
twice a month.
You will be eligible to receive an annual bonus of $30,000
based on your achievement of mutually agreed upon objectives.
You will be eligible to purchase 550,000 shares of Roving
Software restricted common stock at $0.27 a share. The
Company will have the right to repurchase these shares over a
four year period based on the attached schedule. (Attachment
A)
If the company is sold prior to your being employed for
forty-eight (48) months, there will be an eighteen (18) month
acceleration of the repurchase plan.
If the Company, except for cause, terminates your employment,
you will receive six (6) months base salary and health
insurance benefits.
Benefits At such time as the Company commences employee benefits, you
will be covered by the Company's health insurance plan and
you will receive such other employee benefits as the Company
generally provides its employees. (The Company will reimburse
you for your monthly COBRA payments until the Company offers
an employee health insurance plan.)
You will receive three (3) weeks of vacation per year.
The Company reserves the right to change or discontinue any
of its current benefits and policies in the future.
<PAGE>
Other Agreements It is necessary for you to sign the Company's Nondisclosure,
Noncompetition and Developments Agreement, a copy of which is
enclosed with this letter. It is the Company's understanding
that you have made no agreements with any other party that
would restrict you from being employed by the Company.
I look forward to working with you. If you have any questions, please call me at
(617) 912-9454.
Sincerely,
/s/ Randy Parker
-------------------------------------
Randy Parker ACCEPTED: /s/ Gail Goodman
President and CTO ------------------------------
DATE: 4/5/99
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Encl: NDNC agreement (4 pages)
Attachment A