EX-10.7



 Exhibit 10.7 

Rimini Street, Inc. 

7251 West Lake Mead Blvd. 

Suite 300 
 Las Vegas,
Nevada 89128 
 (702) 839-9671 

December 19, 2010 
 Sebastian Grady 

Dear Sebastian: 
 It is with great pleasure that Rimini Street,
Inc. presents to you this Offer of Employment to join the Rimini Street, Inc. team with the position of President & Chief Operating Officer. This Offer of Employment is made conditioned upon your acceptance and execution of the Employment
Agreement between Rimini Street and Sebastian Grady dated December 19, 2010, execution of the Rimini Street, Inc. Employee Intellectual Property and Confidentiality Agreement dated December 19, 2010, acceptable results from a background
check, and any other terms and conditions of employment described herein. 
 Please be aware that this offer must be accepted by Monday,
December 20, 2010 at 5:00 PM Pacific Time. Your employment with Rimini Street, Inc. will be “at will,” meaning that either you or Rimini Street, Inc. can terminate your employment at any time, for any reason or no reason, subject
to the terms of the Employment Agreement. 
 If everything is in order, and you would like to accept this Offer of Employment, please fax back to me
(1) this letter along with your signature accepting the position, (2) the signed Employment Agreement, and (3) the signed Employee Intellectual Property and Confidentiality Agreement. Upon acknowledgement of your acceptance, we will
contact you to arrange delivery of your equipment and work with you to get your benefits set up. 
 POSITION DETAILS: 

 

			
	Title:	  	President & Chief Operating Officer
	Reports to:	  	Seth A. Ravin, CEO
	Location:	  	Pleasanton Office: 6601 Koll Center Parkway Suite 300 Pleasanton, CA 94566
	FLSA:	  	Exempt (Fair Labor Standards Act-Classification)
	Category:	  	Full-time, Regular
	Start Date:	  	Monday, January 1, 2011
	Job Duties:	  	As appropriate for a President & COO and as determined by the CEO
	Base Salary:	  	As detailed in the Employment Agreement dated December 19, 2010
	Target Annual Incentive:	  	As detailed in the Employment Agreement dated December 19, 2010
	Benefits:	  	Standard Rimini Street benefits package for executives
	Equity:	  	As detailed in the Employment Agreement dated December 19, 2010

 Please return fax to my private fax ONLY at: (925) 397-3084. 

I look forward to working with you to redefine enterprise software support at Rimini Street, Inc. 

Regards, 
 Seth A. Ravin 

President & CEO 
  

					
	I, Sebastian Grady, hereby accept this Offer of Employment :	 	 /s/ Sebastian Grady

 
	    	Date:12/19/10








 RIMINI STREET, INC. 

SEBASTIAN GRADY EMPLOYMENT AGREEMENT 

This Agreement is entered into as of January 1, 2011, (the “Effective Date”) by and between Rimini Street, Inc., a Nevada
corporation (the “Company”), and Sebastian Grady (“Executive”). 
 1. Duties and Scope of Employment. 

(a) Positions and Duties. Executive will serve as President and Chief Operating Officer, reporting to the CEO. Executive will render
such business and professional services in the performance of Executive’s duties, consistent with Executive’s position within the Company, as will reasonably be assigned to Executive by the CEO. The period Executive is employed by the
Company under this Agreement is referred to herein as the “Employment Term”. 
 (b) Obligations. During the Employment
Term, Executive will devote Executive’s full business efforts and time to the Company. For the duration of the Employment Term, Executive agrees not to actively engage in any other employment, occupation, or consulting activity for any direct
or indirect remuneration without the prior approval of the CEO (which approval will not be unreasonably withheld); provided, however, that Executive may, without the approval of the CEO, serve as a compensated director of the Board, serve as a
compensated director on one or more additional boards of directors. Additionally, Executive may, without the approval of the CEO, serve in any capacity with any civic, educational, or charitable organization, provided such services do not interfere
with Executive’s obligations to the Company. 
 2. At-Will Employment. Executive and the Company agree that Executive’s
employment with the Company constitutes “at-will” employment. Executive and the Company acknowledge that this employment relationship may be terminated at any time, upon written notice to the other party, with or without good cause or for
any or no Cause, at the option either of the Company or Executive. However, as described in this Agreement, Executive may be entitled to severance benefits depending upon the circumstances of Executive’s termination of employment. 

3. Compensation. 
 (a)
Base Salary. As of the Effective Date, the Company will pay Executive an annual salary noted on Exhibit A as compensation for Executive’s services (such annual salary, as is then effective, to be referred to herein as “Base
Salary”). The Base Salary will be paid periodically in accordance with the Company’s normal payroll practices and be subject to the usual, required withholdings. 

(b) Annual Incentive. As determined by the CEO in his sole discretion, Executive may be eligible to receive an annual performance bonus
as noted on Exhibit A. Such bonus, if any, will be earned and paid calendar quarterly and paid approximately 90 (ninety) days after the end of each calendar quarter for which the bonus is earned. 

(c) Employee Stock Options. Subject to Board approval, Executive will be granted three hundred eighty-five thousand
(385,000) Common Stock Option shares, vesting evenly on the annual employment anniversary over a three (3) year period from first date of employment. Additionally, after Executive has been contiguously employed by Rimini Street for
ninety-one (91) consecutive calendar days from first date of employment, and subject to Board approval, Executive will be granted an additional seventy-five thousand (75,000) Common Stock Option shares, vesting evenly on the annual
employment anniversary 

  

					
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over a three (3) year period from the date of Board approval of the grant. Options will be issued according to the Stock Option Plan. All terms and conditions will be detailed in the Rimini
Street, Inc. Employee Stock Option Plan Agreement. Executive will be required to execute and agree to the stock option plan in order to participate in the program. 

4. Employee Benefits. Executive will be eligible to participate in accordance with the terms of all Company employee benefit plans,
policies and arrangements that are applicable to other executive officers of the Company, as such plans, policies and arrangements may exist from time to time. 

5. Expenses. The Company will reimburse Executive for reasonable travel, entertainment and other expenses incurred by Executive in the
furtherance of the performance of Executive’s duties hereunder, in accordance with the Company’s expense reimbursement policy as in effect from time to time. All reimbursement expenses must be incurred while Executive is an employee of the
Company. If any portion of such reimbursements is taxable to Executive, Executive must submit proper receipts for such reimbursement within thirty (30) days of the date on which he or she incurs such expense and the Company will reimburse Executive
for such expenses within thirty (30) days of the date proper receipts are received. 
 6. Termination of Employment. In the event
Executive’s employment with the Company terminates for any reason, Executive will be entitled to any (a) unpaid Base Salary accrued up to the effective date of termination; (b) unpaid, but earned and accrued annual incentive prorated for any
completed full or partial calendar quarter as of Executive’s termination of employment, (c) pay for accrued but unused vacation that the Company is legally obligated to pay Executive; (d) benefits or compensation as provided under the terms of
any employee benefit and compensation agreements or plans applicable to Executive; (e) unreimbursed business expenses required to be reimbursed to Executive; and (f) rights to indemnification Executive may have under the Company’s Certificate
of Incorporation, Bylaws, the Agreement, or separate indemnification agreement, as applicable. In addition, if the termination is by the Company without Cause or the Executive resigns for Good Reason, Executive will be entitled to the amounts and
benefits specified in Section 7. 
 7. Severance. 

(a) Termination Without Cause or Resignation for Good Reason. If Executive’s employment is terminated by the Company without Cause
or if Executive resigns for Good Reason more than ninety days following the Effective Date but less than 1096 days following the Effective Date, then: (i) thirty-three percent (33%) of Executive’s then outstanding unvested equity awards granted
pursuant to the Company’s 2007 Stock Plan or any other equity incentive plan approved by the Board shall vest as of the date of such termination/resignation; (ii) Executive will receive severance benefits in an amount equal to three (3) months
of Executive’s Base Salary in the form of salary continuation following Executive’s termination of employment in accordance with the Company’s normal payroll practices (such amount being referred to herein as the “Severance
Payment” and such period over which the Severance Payment is made being referred to herein as the “Severance Period”); and (iii) reimbursement for premiums paid for the group health continuation coverage premiums for Executive and
Executive’s eligible dependents under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) so as to provide Executive and Executive’s eligible dependents the same level of benefits to the same extent
as in effect on the date of Executive’s termination through the lesser of (A) three (3) months from the effective date of such termination, (B) the date Executive and Executive’s eligible dependents are no longer eligible to receive
continuation coverage pursuant under COBRA; provided, however, that Executive will be solely responsible for electing such coverage within the required time periods. Executive must provide Company with written notice of Executive’s new position
within ten (10) business days of starting any such position, or Executive shall forfeit the remainder of the Severance Payments to be made pursuant to this Agreement. 

  

					
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 (b) Termination without Cause or Resignation for Good Reason in Connection with a
Change of Control. If Executive’s employment is terminated by the Company without Cause or if Executive resigns for Good Reason within twelve (12) months following a Change of Control that occurs more than ninety days following
the Effective Date but less than 1096 days following the Effective Date, then: (i) one hundred percent (100%) of Executive’s then outstanding unvested equity awards granted pursuant to the Company’s 2007 Stock Plan or any other
equity incentive plan approved by the Board shall vest as of the date of such termination/resignation; (ii) Executive will receive severance benefits in an amount equal to six (6) months of Executive’s Base Salary in the form of
salary continuation following Executive’s termination of employment in accordance with the Company’s normal payroll practices (such amount being referred to herein as the “Severance Payment” and such period over which the
Severance Payment is made being referred to herein as the “Severance Period”); and (iii) reimbursement for premiums paid for the group health continuation coverage premiums for Executive and Executive’s eligible dependents under
the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) so as to provide Executive and Executive’s eligible dependents the same level of benefits to the same extent as in effect on the date of Executive’s
termination through the lesser of (A) six (6) months from the effective date of such termination, (B) the date Executive and Executive’s eligible dependents are no longer eligible to receive continuation coverage pursuant under
COBRA; provided, however, that Executive will be solely responsible for electing such coverage within the required time periods. Executive must provide Company with written notice of Executive’s new position within ten (10) business days
of starting any such position, or Executive shall forfeit the remainder of the Severance Payments to be made pursuant to this Agreement. Any benefits or payments provided under this Section 7(b) are in lieu of, and not in addition to, any
benefits or payments that otherwise might be payable under Section 7(a). 
 (c) Voluntary Termination Without Good Reason or
Termination for Cause. If Executive’s employment is terminated by reason of Executive’s death or Disability, by Executive without Good Reason, or for Cause by the Company, then, except as provided in Section 6, (i) all
further vesting of Executive’s outstanding equity awards will terminate immediately; (ii) all payments of compensation by the Company to Executive hereunder will terminate immediately; and (iii) Executive will be eligible for
severance benefits only in accordance with the Company’s then established plans, programs and practices. 
 8. Conditions to the
Receipt of Severance Payments. Executive’s entitlement to any severance benefits hereunder, including Severance Payments is conditioned upon Executive’s execution and delivery to the Company of (i) a general release of claims in a
form satisfactory to the Company and Executive which release is not revoked by Executive and provided that such release of claims becomes effective no later than sixty (60) days following the termination date (such deadline, the “Release
Deadline”); and (ii) Executive’s resignation from all Executive’s employment with the Company. 
 (a) If the release of
claims does not become effective by the Release Deadline, Executive shall forfeit any rights to severance or benefits under this Agreement. In no event shall severance payments or benefits be paid or provided until the release of claims actually
becomes effective and irrevocable. Any severance payments or benefits under this Agreement that would be considered Deferred Compensation Separation Benefits (as defined in Section 23) shall be paid on, or, in the case of installments, shall
not commence until, the sixtieth (60th) day following Executive’s separation from service, or, if later, such time as required by Section 23. Except as required by Section 23,
any installment payments that would have been made to Executive during the sixty (60) day period immediately following Executive’s separation from service but for the preceding sentence shall be paid to Executive on the sixtieth (60th) day following Executive’s separation from service and the remaining payments shall be made as provided in this Agreement. 

(b) Unless otherwise required by Section 23, the Company shall pay any severance payments in continuing payments following
Executive’s termination date in accordance with the Company’s normal payroll practices; provided, however, that no severance or other benefits shall be paid or provided until 

  

					
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the release of claims and any severance amounts or benefits otherwise payable between Executive’s termination date and the date such release becomes effective shall be paid on the effective
date of such release. If Executive should die before all of the severance amounts have been paid, such unpaid amounts shall be paid in a lump-sum payment promptly following such event to Executive’s designated beneficiary, if living, or
otherwise to the personal representative of Executive’s estate. 
 9. Limitation on Payments. In the event that the severance
and other benefits provided for in this Agreement or otherwise payable to Executive (i) constitute “parachute payments” within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”) and (ii) but
for this Section 9, would be subject to the excise tax imposed by Section 4999 of the Code, then Executive’s severance benefits under Section 7 will be either: 
  

	 	(a)	delivered in full, or 

  

	 	(b)	delivered as to such lesser extent which would result in no portion of such severance benefits being subject to excise tax under Section 4999 of the Code, 


whichever of the foregoing amounts, taking into account the applicable federal, state and local income taxes and the excise tax imposed by Section 4999 of the
Code, results in the receipt by Executive on an after-tax basis, of the greatest amount of severance benefits, notwithstanding that all or some portion of such severance benefits may be taxable under Section 4999 of the Code. Unless the Company and
Executive otherwise agree in writing, any determination required under this Section 9 will be made in writing by the Company’s independent public accountants immediately prior to a Change of Control (the “Accountants”), whose
determination will be conclusive and binding upon Executive and the Company for all purposes. For purposes of making the calculations required by this Section 9, the Accountants may make reasonable assumptions and approximations concerning
applicable taxes and may rely on reasonable, good faith interpretations concerning the application of Sections 280G and 4999 of the Code. The Company and Executive will furnish to the Accountants such information and documents as the Accountants may
reasonably request in order to make a determination under this Section 9. The Company will bear all costs the Accountants may reasonably incur in connection with any calculations contemplated by this Section 9. Any reduction in payments and/or
benefits required by this Section 9 shall occur in the following order: (1) reduction of cash payments; (2) reduction of vesting acceleration of equity awards; and (3) reduction of other benefits paid or provided to Executive. In the event that
acceleration of vesting of equity awards is to be reduced, such acceleration of vesting shall be cancelled in the reverse order of the date of grant for Executive’s equity awards. If two or more equity awards are granted on the same date, each
award will be reduced on a pro-rata basis. 
 10. Definitions. 

(a) Cause. For purposes of this Agreement, “Cause” will mean: 

(i) Executive’s failure to perform the duties and responsibilities of Executive’s position after there has been delivered to
Executive a written demand for performance from the CEO which describes the basis for the CEO’s belief that Executive has not substantially performed Executive’s duties and provides Executive with fifteen (15) days to take corrective
action; 
 (ii) Any act of negligence, willful misconduct (such as bribery, sexual harassment, violation of Company ethics policy and other
actions of misconduct of similar significance) or dishonesty taken by Executive in connection with Executive’s employment with the Company, and in the case of negligence such act had a material adverse effect on the Company’s business or
reputation; 

  

					
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 (iii) Any act of dishonesty or moral turpitude consisting fraud or embezzlement or otherwise
adversely affecting the Company’s business or reputation; 
 (iv) Executive’s conviction of, or plea of nolo contendre to, a
felony; 
 (v) Executive’s indictment for a criminal violation of state or federal securities laws; or 

(vi) Any breach by Executive of any covenants or obligations set forth in this Agreement which is not cured within fifteen (15) days
following Executive’s receipt of written notice of such breach from the CEO. 
 (b) Change of Control. For purposes of this
Agreement, “Change of Control” will mean the occurrence of any of the following events: 
 (i) Change in Ownership of the
Company. A change in the ownership of the Company, which is deemed to occur on the date that any one person, or more than one person acting as a group (“Person”), acquires ownership of the stock of the Company that, together with the
stock held by such Person, constitutes more than 51% of the total voting power of the stock of the Company (as determined on a fully-diluted basis, including granted and ungranted employee stock options and all stock warrants), except that any
financing of the Company that is approved by the Board will not be considered a Change of Control; or 
 (ii) Change in Effective
Control of the Company. A change in the effective control of the Company, which is deemed to occur on the date that a majority of members of the Board is replaced during any 12-month period by directors whose appointment or election was not
endorsed by a majority of the members of the Board prior to the date of the appointment or election. For purposes of this clause (ii), if any Person is considered to be in effective control of the Company, the acquisition of additional control of
the Company by the same Person will not be considered a Change of Control; or 
 (iii) Change in Ownership of a Substantial Portion of
the Company’s Assets. A change in the ownership of a substantial portion of the Company’s assets, which is deemed to occur on the date that any Person acquires (either is one transaction or in multiple transactions over the 12-month
period ending on the date of the most recent acquisition by such person or persons) assets from the Company that have a total gross fair market value equal to or more than 51% of the total gross fair market value of all of the assets of the Company
immediately prior to such acquisition or acquisitions. For purposes of this subsection (iii), gross fair market value means the value of the assets of the Company, or the value of the assets being disposed of, determined without regard to any
liabilities associated with such assets. 
 For purposes of the above sections, persons will be considered to be acting as a group if they
are owners of a corporation that enters into a merger, consolidation, purchase or acquisition of stock, or similar business transaction with the Company. 

Notwithstanding the foregoing provisions of this definition, a transaction will not be deemed a Change of Control unless the transaction
qualifies as a “change in control event” within the meaning of Section 409A. Further and for the avoidance of doubt, a transaction will not constitute a Change of Control if: (i) its sole purpose is to change the state of the
Company’s incorporation, or (ii) its sole purpose is to create a holding company that will be owned in substantially the same proportions by the persons who held the Company’s securities immediately before such transaction. 

  

					
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 (c) Disability. For purposes of this Agreement, “Disability” means that
Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than
twelve (12) months. 
 (d) Good Reason. For purposes of this Agreement, “Good Reason” means Executive’s termination of
employment within ninety (90) days following the expiration of any cure period (as discussed below) following the occurrence of any of the following, without Executive’s express written consent: 

(i) The assignment to Executive of any duties, authority or responsibilities, or the reduction of Executive’s duties, authority or
responsibilities, either of which results in a material reduction of Executive’s duties, authority or responsibilities, relative to Executive’s duties, authority or responsibilities as in effect immediately prior to such reduction; 

(ii) A material reduction by the Company in the base compensation of Executive as in effect immediately prior to such reduction other than
pursuant to a reduction that (A) also is applied to substantially all other executive officers of the Company and (B) does not result in an aggregate reduction of Executive’s Base Salary and/or annual cash incentive to less than 50% of the Base
Salary and/or annual cash incentive that was in effect immediately prior to the initial reduction of Executive’s Base Salary and/or annual cash incentive by the Company; 

(iii) A material change in the geographic location at which Executive must perform services (in other words, the relocation of Executive to a
facility or location more than fifty (50) miles from Executive’s then present location); or 
 (iv) Any other action or inaction that
constitutes a material breach of the terms of the Agreement. 
 Executive shall not resign for Good Reason without first providing the
Company with written notice within ninety (90) days of the event that Executive believe constitutes “Good Reason” specifically identifying the acts or omissions constituting the grounds for Good Reason and a reasonable cure period of not
less than thirty (30) days. 
 11. Indemnification. Subject to applicable law, Executive will be provided indemnification to the
maximum extent permitted by the Company’s Certificate of Incorporation or Bylaws, including, if applicable, any directors and officers insurance policies, with such indemnification to be on terms determined by the Board or any of its
committees, but on terms no less favorable than provided to any other Company executive officer or director and subject to the terms of any separate written indemnification agreement. 

12. Assignment. This Agreement will be binding upon and inure to the benefit of (a) the heirs, executors and legal representatives of
Executive upon Executive’s death, and (b) any successor of the Company. Any such successor of the Company will be deemed substituted for the Company under the terms of this Agreement for all purposes. For this purpose, “successor”
means any person, firm, corporation, or other business entity which at any time, whether by purchase, merger, or otherwise, directly or indirectly acquires all or substantially all of the assets or business of the Company. None of the rights of
Executive to receive any form of compensation payable pursuant to this Agreement may be assigned or transferred except by will or the laws of descent and distribution. Any other attempted assignment, transfer, conveyance, or other disposition of
Executive’s right to compensation or other benefits will be null and void. 
 13. Notices. All notices, requests, demands and
other communications called for hereunder will be in writing and will be deemed given (a) on the date of delivery if delivered personally; (b) one (1) day after 

  

					
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 being sent overnight by a well established commercial overnight service; or (c) four (4) days after being
mailed by registered or certified mail, return receipt requested, prepaid and addressed to the parties or their successors at the following addresses, or at such other addresses as the parties may later designate in writing: 

If to the Company: 
 Rimini
Street 
 7251 West Lake Mead Blvd, Suite 300 

Las Vegas, Nevada 89128 

Attention: Legal Department 

Facsimile: (702) 973-7491 

E-mail address: legal@riministreet.com 

If to Executive: 
 at the last
residential address known by the Company. 
 14. Severability. If any provision hereof becomes or is declared by a court of competent
jurisdiction to be illegal, unenforceable, or void, this Agreement will continue in full force and effect without said provision. 
 15.
Arbitration. 
 (a) General. In consideration of Executive’s service to the Company, its promise to arbitrate all
employment-related disputes and Executive’s receipt of the compensation, pay raises and other benefits paid to Executive by the Company, at present and in the future, Executive agrees that any and all controversies, claims, or disputes with
anyone (including the Company and any employee, officer, director, shareholder or benefit plan of the Company in their capacity as such or otherwise) arising out of, relating to, or resulting from Executive’s service to the Company under this
Agreement or otherwise or the termination of Executive’s service with the Company, including any breach of this Agreement, shall be subject to binding arbitration. Disputes which Executive agrees to arbitrate, and thereby agrees to waive any
right to a trial by jury, include any statutory claims under state or federal law, including, but not limited to, claims under Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act of 1990, the Age Discrimination in
Employment Act of 1967, the Older Workers Benefit Protection Act, claims of harassment, discrimination or wrongful termination and any statutory claims. Executive further understands that this Agreement to arbitrate also applies to any disputes that
the Company may have with Executive. 
 (b) Procedure. Executive agrees that any arbitration will be administered by the American
Arbitration Association (“AAA”) and that a neutral arbitrator will be selected in a manner consistent with its National Rules for the Resolution of Employment Disputes (the “Rules”). Executive agrees that the arbitrator shall
have the power to decide any motions brought by any party to the arbitration, including motions for summary judgment and/or adjudication and motions to dismiss and demurrers, prior to any arbitration hearing. Executive agrees that the arbitrator
shall issue a written decision on the merits. Executive also agrees that the arbitrator shall have the power to award any remedies, including attorneys’ fees and costs, available under applicable law. Executive understands the Company will pay
for any administrative or hearing fees charged by the arbitrator or AAA except that Executive shall pay the first $125.00 of any filing fees associated with any arbitration Executive initiates. Executive agrees that the arbitrator shall administer
and conduct any arbitration in a manner consistent with the Rules. 
 (c) Remedy. Except as provided by the Rules, arbitration shall
be the sole, exclusive and final remedy for any dispute between Executive and the Company. Accordingly, except as provided for by 

  

					
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the Rules, neither Executive nor the Company will be permitted to pursue court action regarding claims that are subject to arbitration. Notwithstanding, the arbitrator will not have the
authority to disregard or refuse to enforce any lawful Company policy, and the arbitrator shall not order or require the Company to adopt a policy not otherwise required by law which the Company has not adopted. 

(d) Availability of Injunctive Relief. In addition to the right under the Rules to petition the court for provisional relief, Executive
agrees that any party may also petition the court for injunctive relief where either party alleges or claims a violation of this Agreement or any other agreement regarding trade secrets, confidential information, or nonsolicitation. In the event
either party seeks injunctive relief, the prevailing party shall be entitled to recover reasonable costs and attorneys’ fees. 
 (e)
Administrative Relief. Executive understands that this Agreement does not prohibit Executive from pursuing an administrative claim with a local, state or federal administrative body such as the Department of Fair Employment and Housing, the
Equal Employment Opportunity Commission, or the workers’ compensation board. This Agreement does, however, preclude Executive from pursuing court action regarding any such claim. 

(f) Voluntary Nature of Agreement. Executive acknowledges and agrees that Executive is executing this Agreement voluntarily and without
any duress or undue influence by the Company or anyone else. Executive further acknowledges and agrees that Executive has carefully read this Agreement and that Executive has asked any questions needed for Executive to understand the terms,
consequences and binding effect of this Agreement and fully understand it, including that Executive is waiving Executive’s right to a jury trial. Finally, Executive agrees that Executive has been provided an opportunity to seek the
advice of an attorney of Executive’s choice before signing this Agreement. 
 16. Integration. This Agreement, Executive’s
Confidential and Invention Assignment Agreement, together with the Company’s 2007 Stock Plan and any stock purchase or stock option agreements between the Executive and the Company which describe Executive’s outstanding equity awards,
represents the entire agreement and understanding between the parties as to the subject matter herein and supersedes all prior or contemporaneous agreements whether written or oral. No waiver, alteration, or modification of any of the provisions of
this Agreement will be binding unless in a writing and signed by duly authorized representatives of the parties hereto. In entering into this Agreement, no party has relied on or made any representation, warranty, inducement, promise, or
understanding that is not in this Agreement. 
 17. Waiver of Breach. The waiver of a breach of any term or provision of this
Agreement, which must be in writing, will not operate as or be construed to be a waiver of any other previous or subsequent breach of this Agreement. 

18. Survival. The Company’s and Executive’s responsibilities under Sections 7 and 8 will survive the termination of this
Agreement. 
 19. Headings. All captions and Section headings used in this Agreement are for convenient reference only and do not
form a part of this Agreement. 
 20. Tax Withholding. All payments made pursuant to this Agreement will be subject to withholding of
applicable taxes. 
 21. Governing Law. This Agreement will be governed by the laws of the State of Nevada without regard to its
conflict of laws provisions. 

  

					
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 22. Acknowledgment. Executive acknowledges that she has had the opportunity to discuss
this matter with and obtain advice from Executive’s private attorney, has had sufficient time to, and has carefully read and fully understands all the provisions of this Agreement, and is knowingly and voluntarily entering into this Agreement.

 23. Code Section 409A. 

(a) Notwithstanding anything to the contrary in this Agreement, no severance payable to Executive, if any, pursuant to this Agreement, when
considered together with any other severance payments or separation benefits that are considered deferred compensation under Section 409A of the Code and the final regulations and any guidance promulgated thereunder (“Section 409A”)
(together, the “Deferred Compensation Separation Benefits”) shall be payable until Executive has a “separation from service” within the meaning of Section 409A. Similarly, no severance payable to Executive, if any, pursuant
to this Agreement that otherwise would be exempt from Section 409A pursuant to Treasury Regulation Section 1.409A-1(b)(9) will be payable until Executive has a “separation from service” within the meaning of Section 409A. 

(b) Further, if Executive is a “specified employee” within the meaning of Section 409A at the time of Executive’s
separation from service (other than due to Executive’s death), then the Deferred Compensation Separation Benefits that are payable within the first six (6) months following Executive’s separation from service shall become payable on
the first payroll date that occurs on or after the date six (6) months and one (1) day following the date of Executive’s separation from service. All subsequent Deferred Compensation Separation Benefits, if any, shall be payable in
accordance with the payment schedule applicable to each payment or benefit. Notwithstanding anything herein to the contrary, if Executive dies following Executive’s separation from service but prior to the six (6) month anniversary of the
separation from service, then any payments delayed in accordance with this paragraph shall be payable in a lump sum as soon as administratively practicable after the date of Executive’s death and all other Deferred Compensation Separation
Benefits shall be payable in accordance with the payment schedule applicable to each payment or benefit. Each payment and benefit payable under this Agreement is intended to constitute a separate payment for purposes of Section 1.409A-2(b)(2)
of the Treasury Regulations. 
 (c) Any amount paid under this Agreement that satisfies the requirements of the “short-term
deferral” rule set forth in Section 1.409A-1(b)(4) of the Treasury Regulations shall not constitute Deferred Compensation Separation Benefits for purposes of clause (a) above. 

(d) Any amount paid under this Agreement that qualifies as a payment made as a result of an involuntary separation from service pursuant to
Section 1.409A-1(b)(9)(iii) of the Treasury Regulations that do not exceed the Section 409A Limit (as defined below) shall not constitute Deferred Compensation Separation Benefits for purposes of clause (a) above. 

(e) For purposes of this Agreement, “Section 409A Limit” means the lesser of 2 times: (i) Executive’s annualized
compensation based upon the annual rate of pay paid to Executive during Executive’s taxable year preceding Executive’s taxable year of Executive’s separation from service as determined under Treasury Regulation
Section 1.409A-1(b)(9)(iii)(A)(1) and any Internal Revenue Service guidance issued with respect thereto; or (ii) the maximum amount that may be taken into account under a qualified plan pursuant to Section 401(a)(17) of the Internal
Revenue Code for the year in which Executive’s separation from service occurred. 
 (f) The foregoing provisions are intended to comply
with the requirements of Section 409A so that none of the severance payments and benefits to be provided hereunder shall be subject to the additional tax imposed under Section 409A, and any ambiguities herein shall be interpreted to so
comply. The 

  

					
	Confidential	  	Page 9 of 12	  	









 
Company and Executive agree to work together in good faith to consider amendments to this Agreement and to take such reasonable actions which are necessary, appropriate or desirable to avoid
imposition of any additional tax or income recognition prior to actual payment to Executive under Section 409A. 
 24. Counterparts.
This Agreement may be executed in counterparts, and each counterpart will have the same force and effect as an original and will constitute an effective, binding agreement on the part of each of the undersigned. 

**** 

  

					
	Confidential	  	Page 10 of 12	  	









 IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Company
by a duly authorized officer, as of the day and year written below. 
 COMPANY: 

 

									
	RIMINI STREET, INC.	  		 		 	
				
	 /s/ Seth A. Ravin

 
	  		 	Date:	 	12/19/10
				
	By: Seth A. Ravin, Chief Executive Officer	  		 		 	
				
	EXECUTIVE:	  		 		 	
				
	 /s/ Sebastian Grady

 
	  		 	Date:	 	12/19/10
	Sebastian Grady	  		 		 	

 [SIGNATURE PAGE TO SEBASTIAN GRADY EMPLOYMENT AGREEMENT] 

  

					
	Confidential	  	Page 11 of 12	  	









 RIMINI STREET, INC. 

SEBASTIAN GRADY EMPLOYMENT AGREEMENT 

EXHIBIT A 
  

													
	 Effective Dates
	  	Base Salary	 	  	Annual Incentive	 	  	Total	 
	 January 1, 2011– June 30, 2011
	  	$	150,000.00 USD	  	  	$	250,000.00 USD	  	  	$	400,000 USD	  
	 July 1, 2011– December 31, 2011
	  	$	175,000.00 USD	  	  	$	250,000.00 USD	  	  	$	425,000 USD	  
	 January 1, 2012 – June 30, 2012
	  	$	200,000.00 USD	  	  	$	250,000.00 USD	  	  	$	450,000 USD	  
	 July 1, 2012 – December 31, 2012
	  	$	225,000.00 USD	  	  	$	250,000.00 USD	  	  	$	475,000 USD	  
	 January 1, 2013 – December 31, 2013
	  	$	250,000.00 USD	  	  	$	250,000.00 USD	  	  	$	500,000 USD	  

 Annual Incentive amounts awarded, if any, will be determined at the sole discretion of the CEO. Annual Incentive will take
into consideration personal MBO achievement and key company performance measures. 
 Key company performance measures may include, but not be limited to:

  

	 	•	 	Achievement of gross margin & budget targets 

  

	 	•	 	Achievement of operating profit targets 

  

	 	•	 	Achievement of new sales invoicing targets 

  

	 	•	 	Achievement of contract bookings targets 

  

	 	•	 	Achievement of renewal client invoicing & retention targets 

  

	 	•	 	Achievement of recognized revenue targets 

  

	 	•	 	Achievement of cash-in-bank, receivables, DSO & cash collection targets 

  

	 	•	 	Achievement of client satisfaction targets 

  

	 	•	 	Achievement of employee turnover targets 

  

	 	•	 	Achievement of fund raising targets 

  

	 	•	 	Achievement of lead generation & pipeline targets 


  

					
	Confidential	  	Page 12 of 12	  	









  
 



 

			
	



	  	Rimini Street, Inc.
	  	7251 West Lake Mead Blvd., Suite 300
	  	Las Vegas, Nevada 89128
	  	Phone +1 702.839.9671
	  	Fax +1 925.397.3193
	  	E-mail: HR@riministreet.com

 May 14 2013 
 Sebastian Grady

  

	 	Re:	Updated terms of employment with Rimini Street, Inc. 

 Dear Sebastian: 

As you know, Rimini Street, Inc. (“Rimini Street” or the “Company”) has been growing at a fast pace year-over-year, and the Company and
its international affiliates now employ hundreds of talented, hardworking colleagues around the world. Rimini Street is committed to providing all our colleagues with a challenging and exciting career and work environment with industry-leading
compensation and benefits. 
 As we continue to grow and evolve, it is important that we update our employment records and make sure that your employment
documents are kept current with changes that are made to employment terms and conditions. Accordingly, we ask that you please carefully review the most current terms of employment details provided below and sign this document for your updated
employee file. These updated terms of employment shall have no effect on your existing obligations pursuant to our current Employee Intellectual Property and Confidentiality Agreement, the Rimini Street Acceptable Use Policy, the Rimini Street
Employee Handbook and applicable state addendum, any other existing terms and conditions of your employment not addressed herein, nor any other terms and conditions required by law. 

Also, please note that these updated terms of employment do not constitute an employment contract. Your employment with Rimini Street remains “at
will,” meaning that either you or the Company can terminate your employment at any time, for any reason or no reason. As you would expect, Rimini Street reserves the right to adjust and change job profiles, compensation plans, employee roles,
and other terms and conditions as it deems necessary. 
 EXEMPT POSITION DETAIL: 

 

							
	Title:	  	President & Chief Operating Officer	  	FLSA:	  	Exempt (FLSA-Classification)
	Reports to:	  	Seth Ravin	  	Category:	  	Full-time, Regular
	Location:	  	 Pleasanton
 (If home office: internet, telephone
costs and charges, and reasonable office supply expenses are reimbursable.)
	  	 Employed Since:
 Benefits:
	  	 1/1/2011
 Regular employees working at least 30
hours per week are eligible for benefits, as described in the Employee Handbook and applicable benefit plan documents.


  

			
	Job Duties:	  	(As previously provided to you or as directed by your manager)
	Base Salary:	  	$250000.08 USD annualized ($20833.34 per month, paid semi-monthly)
	Target Quarterly Performance Bonus:	  	$46875, subject to the Company Bonus Program terms and conditions described in Exhibit A.
	Target Annual Retention Bonus:	  	$62500, subject to the Company Bonus Program terms and conditions described in Exhibit A.
	Equity:	  	(Common Stock Options, if any, as previously expressly granted to you in writing)

 To confirm your receipt and review of these updated terms of employment, we ask that you please e-sign below utilizing the
electronic signature method provided. Alternatively, you can sign and return an electronic copy via e-mail. 
 Thank you for your time and attention to this
matter, and for your continued contributions as member of the Rimini Street team. We look forward to continuing our work together to redefine enterprise software support. 

Regards, 
 Seth A. Ravin 

CEO 
 Rimini Street, Inc. 

I, Sebastian Grady, hereby accept these updated terms of employment: 
  

							
	/s/ Sebastian Grady	 		  	May 17, 2013	  	
	Signature	 		  	Date	  	








 EXHIBIT A 

Company Bonus Program 
 To reward
employees for achievement of specific company goals, and for the employee’s own individual contributions to company success, Rimini Street, Inc. (hereinafter referred to as the “Company”) offers a competitive bonus program to eligible
employees (the “Company Bonus Program”). 
 The Company Bonus Program may include a Quarterly Performance Bonus and/or an Annual Retention Bonus,
as provided in the employee’s employment offer letter. The Company offers these bonus programs in its discretion, and reserves the right to modify or revoke the bonus programs at any time. 

Quarterly Performance Bonus: 
 The Quarterly
Performance Bonus is calculated by multiplying the employee’s Quarterly Target Performance Bonus (dollar amount) by the Quarterly Company Performance Factor and the Quarterly Personal Performance Factor. 

The Quarterly Company Performance Factor is determined based on the Company’s achievement of quarterly targets for client invoicing (80%) and
expenses (20%), and may be modified upward or downward based on achievement of client satisfaction targets. 
 The Quarterly Personal Performance Factor is
a percentage determined at the discretion of the employee’s manager (and approved or modified by senior management) based on the employee’s achievement of individual goals and objectives, and overall contribution to the Company’s
success. 
 The Quarterly Performance Bonus shall be paid on according to the following schedule: Q1 Quarterly Bonus (covering the period January 1
through March 31) shall be paid on or before June 30; Q2 Quarterly Bonus (covering the period April 1 through June 30) shall be paid on or before September 30; Q3 Quarterly Bonus (covering the period July 1 through
September 30) shall be paid on or before December 31; and Q4 Quarterly Bonus (covering the period October 1 through December 31) shall be paid on or before March 15 of the following year. 

Effective January 1, 2013, for those employees eligible to receive a Quarterly Performance Bonus, eligibility begins on the employee’s start of
employment and is pro-rated in the employee’s first calendar quarter. Thereafter, to be eligible for the Quarterly Performance Bonus in a given calendar quarter, the employee must be employed through the last day of the calendar quarter in
question. The Quarterly Performance Bonus shall be pro-rated to account for any extended absence (meaning more than 5 contiguous days, excluding approved PTO) during the applicable bonus period, pro-rated based on a 365-day year. The employee shall
not be eligible for any Quarterly Performance Bonus for any quarter in which one or more of the following conditions exits: (a) employee’s employment ends before the completion of a given calendar quarter; (b) the Quarterly Company
Performance Factor is less than 50%; (c) the employee was not in good standing, including, but not limited to, subject to a Performance Improvement Plan; or (d) the employee’s Quarterly Personal Performance Factor is less than 70%.

 Annual Retention Bonus: 
 The Company
provides eligible employees with Annual Retention Bonus to reward loyalty, performance and added value to Rimini Street through continued employment. 
 The
Annual Retention Bonus is determined by multiplying the employee’s Target Annual Retention Bonus (dollar amount) by the Annual Company Performance Factor and the average of the Quarterly Personal Performance Factor used for the Quarterly
Performance Bonus payments made to employee from January 1 through December 31 of the prior calendar year. 
 The Annual Company Performance
Factor is determined based on the Company’s achievement of annual targets for client invoicing (80%) and expenses (20%), and may be modified upward or downward based on achievement of client satisfaction targets averaged for the entire
year. 
 The Annual Retention Bonus shall be paid on or before March 15 of the following year. 

Effective January 1, 2013, for those employees eligible to receive an Annual Retention Bonus, eligibility begins on the employee’s start of
employment and is pro-rated for the employee’s first calendar year. Thereafter, to be eligible for the Annual Retention Bonus for a given calendar year, the employee must be employed through the last day of the calendar year in question. The
Annual Retention Bonus shall be pro-rated to account for any extended absence (meaning more than 5 contiguous days, excluding approved PTO) during the applicable bonus period, pro-rated based on a 365-day year. The bonus shall also be pro-rated to
exclude those days of the year in which the employee was not in good standing (including, without limitation, those days in which the employee was subject to a Performance Improvement Plan). The employee shall not be eligible for any Annual
Retention Bonus for any calendar year in which one or more of the following conditions exists: (a) employee’s employment ends before the completion of a given calendar year; (b) the Annual Company Performance Factor is less than 50%;
or (c) the employee’s average Quarterly Personal Performance Factor is less than 70% for the calendar year. 
 The bonus shall also be pro-rated
to exclude those days of the year in which the employee was not in good standing (including without limitation those days in which the employee was subject to a Performance Improvement Plan). 

Questions or concerns about this Company Bonus Policy should be discussed with Human Resources.