exv10w10







EXHIBIT 10.10




FORM OF OFFER LETTER FOR EXECUTIVE OFFICERS




[Date]




[Full Name]

[Address Line 1]

[Address Line 2]




Dear [First Name]:



I am pleased to offer you the position of [Position Title] reporting to [Supervisor’s Name and
Title].



Your starting salary will be $[insert annual base salary] per year, which equals $[insert monthly
base salary] per month, subject to periodic review. In addition, you will be eligible to
participate in an annual executive incentive compensation plan of [insert percentage of cash bonus
plan]% of your base salary which may be over or under achieved based upon Company performance and
your ability to meet your objectives under the plan.




[If stock options are to be granted, insert the following paragraph]



As a further incentive, we will recommend to the Board of Directors (or an applicable subcommittee)
that you be granted an non-qualified option to purchase [insert the number of option shares to be
granted] shares of Callidus Software Inc. common stock subject to the terms and conditions of the
Company’s stock plan, and the Company’s policies and procedures. Such Option shall be granted
effective as of the last trading day of the month in which you commence your employment with the
Company (“Grant Date”) and shall vest over a period of four (4) years with 25% of the shares
vesting one (1) year after the Grant Date and the remaining 75% of the shares vesting in equal
monthly installments thereafter over the remaining three (3) years, subject to your continued
employment with the Company.




[If restricted stock units are to be awarded, insert the following paragraph]



In addition, we will recommend to the Board of Directors that you be awarded [insert the number of
RSU shares to be awarded] shares of restricted stock units, subject to the terms and conditions of
the Company’s stock plan and the Company’s policies and procedures. Such RSU shall be awarded
effective on the last trading day of the month in which you commence employment (the “Award Date”)
and such RSU shall vest over a period of three (3) years with 33.33% of the shares vesting one (1)
year after the Award Date and the remaining 66.67% of the shares vesting in standard quarterly
installments over the remaining two (2) years thereafter subject to your continued employment with
the Company.




[If the employee is to be a Section 16 officer, insert the following paragraph]



As a new member of executive management, we will also recommend to the Board that you be classified
as a Section 16 officer of Callidus, and that you should therefore be granted benefits in
connection with a corporate change of control and indemnification in the case of litigation.
Copies of our Board of Directors approved Change of Control Agreement and Indemnification Agreement
are included for your review and execution. You will need to execute and return these agreements to
me for them to become effective.



As a regular, full-time employee, you are eligible to participate in Callidus’ benefits programs,
including medical, vision, and dental insurance, and 401(k) and ESPP plans, as set forth in our
Callidus Benefits Guidebook. Our standard policy requires that you have a reasonably clean driving
record and credit history and that we successfully complete a background check. This offer is also
contingent upon your completing




 









 







and executing an Employment, Confidential Information and Invention
Assignment Agreement (“Invention Agreement”).



The Company is an “at will” employer, which means that the employment relationship may be
terminated at any time by either the Company or by you, with or without notice and with or without
cause. By signing below, you acknowledge that your employment at Callidus is for an unspecified
duration, and neither this letter, nor your acceptance thereof, constitutes a contract of
employment. Should you be involuntarily terminated other than for cause at any time, you shall
receive a 7-month base pay severance payment (lump sum) and payment of your applicable COBRA for 7
months, in return for signing a full release of rights.



Upon separation from the Company for any reason, you also agree to return to the Company any
equipment that has been provided to you or reimburse the Company the cost for such equipment. The
Company reserves the right to deduct such costs from any final payments made to you in accordance
with state and federal laws.



For purposes of federal immigration law, you will be required to provide to the Company documentary
evidence of your identity and eligibility for employment in the United States. Such documentation
must be provided to us within three business days of your date of hire with Callidus, or our
employment relationship with you may be terminated for cause. The Company’s standard policy also
requires that you participate in our direct deposit payroll program.



[First Name], on behalf of Callidus Software, we very much look forward to your acceptance of this
offer. I have enclosed two executed copies of this offer letter. As evidence of your acceptance,
please sign both letters and return one original along with the signed Invention Agreement to
[Insert Name and Title] via the enclosed Federal Express envelope or otherwise to: Callidus
Software, Attn: [Insert Name and Title], 160 West Santa Clara Street, Suite 1500, San Jose, CA 95113, not later
than [Date] at 5:00 p.m. PST.



We look forward to working with you at Callidus Software. If you have any questions regarding any
points in this letter please feel free to contact me. Welcome aboard!




Sincerely,




[Full Name]

[Title of Authorized Officer]

Callidus Software Inc.




I accept the terms of this letter and agree to keep the terms of this letter confidential.




	 	 	 	 	 	 	 
	 

Signature of [Full Name]

	 	 	 	 

Date
	 	 
	 
	 	 	 	 	 	 
	I agree to start work for Callidus Software on:
	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Start Date