Document:

Exhibit
      10.25

    

    November
      20, 2007

    

    Robert
      Youngjohns

    c/o
      Callidus Software Inc.

    160
      West
      Santa Clara St.

    San
      Jose,
      CA 95113

    

    Re:           Confirmation
      of Resignation

    

    Dear
      Robert:

    

    This
      letter agreement memorializes the terms of your change in status with Callidus
      Software Inc. (the “Company”).

     

    Resignation
      of Employment.  Effective November 30, 2007 (the
“Resignation Date”), you have resigned as President and Chief
      Executive Officer of the Company, and from all other positions which you hold
      as
      of such date with the Company, its subsidiaries or its affiliates, other than
      your position as a member of the Company’s Board of Directors.  You
      understand that you will not be eligible for a bonus for the second half of
      fiscal 2007.  You agree that any stock options granted to you prior to
      the date hereof shall cease vesting on the Resignation Date, and that any
      unvested portion of such stock options (as set forth on Schedule I hereto)
      shall
      terminate on the Resignation Date.  Pursuant to the terms of your
      stock options, the vested stock options shall remain outstanding during, and
      for
      90 days after termination of your service as a member of the Board of Directors,
      subject to the terms of the applicable option agreement and/or the Company’s
      stock incentive plan.  You acknowledge and agree that your obligations
      under the “Agreement Regarding Employment, Confidential Information, Invention
      Assignment and Arbitration” between you and the Company, including without
      limitation your agreement not to solicit employees of the Company, remain in
      full force and effect following termination of your employment pursuant to
      the
      terms of such agreement.

     

    Board
      Compensation.  You have not resigned from the Company’s Board of
      Directors.  During your continued service on the Board of Directors
      following the Resignation Date, you will be eligible to receive cash and equity
      compensation commencing December 1, 2007 pursuant to the Company’s non-employee
      director compensation policy as determined by the Board of Directors from time
      to time; provided that for the avoidance of doubt, you will not receive
      the initial option grant provided to new directors, but you will be eligible
      to
      receive an annual option grant if you remain on the Board of Directors following
      the Company’s 2008 annual meeting of stockholders.

     

    Miscellaneous.  This
      letter agreement will be governed by the laws of the State of
      California.  This Agreement may be signed in several counterparts,
      each of which shall be an original, with the same effect as if the signatures
      thereto and hereto were on the same instrument.

     

    We
      look
      forward to your continued contributions on our Board of Directors.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

     

    
      	 	
              Sincerely,

              

              CALLIDUS
                SOFTWARE INC.

              

              

              /s/
                V. Holly Albert

              By:
                V. Holly Albert, Senior Vice President and General
                Counsel

            

     

    Agreed
      and
      accepted:

    

    

    Robert
      Youngjohns      Dated:  November 20,
      2007

    Robert
      YoungjohnsExhibit
      10.26

    

    November
      20, 2007 Amendment to November 1, 2005 Offer Letter between Callidus Software
      and Leslie Stretch

    

    Effective
      December 1, 2007, as authorized by the Board of Directors on November 19, 2007,
      you will be promoted to the position of President and Chief Executive Officer
      of
      Callidus Software Inc., and your offer letter dated November 1,
      2005  (“Offer Letter”) is hereby amended effective on your assumption
      of such position to reflect your new position, as well as the following new
      compensation and terms:

    

    Starting
      December 1, 2007, your annualized base salary will be raised to
      $350,000.  Your annual target bonus opportunity will be 100% of your
      base salary.

    

    For
      the
      second half of fiscal 2007, 5/6 of the bonus shall be based on prior
      compensation and plan, and 1/6 of bonus shall be based on new CEO compensation
      and plan.

    

    On
      November 30, 2007, you will be granted 400,000 non-qualified stock options,
      with
      vesting over four years and an exercise price equal to the fair market value
      of
      our common stock on the grant date.

    

    Your
      severance amount upon an involuntary termination without cause, subject to
      you
      signing a full release, is also hereby modified to be the following severance
      in
      lieu of the amounts set forth in the Offer Letter:

    

    
      	
              (i)  

            	
              One
                year of your base salary and target bonus, which shall be paid no
                later
                than March 15 of the year following the year of your
                termination.

            

    

    
      	
              (ii)  

            	
              If
                you elect to continue your medical coverage under COBRA, the Company
                shall
                pay for such coverage, at the same cost to you as before the termination
                of employment, until the end of the 12-month period after the date
                of
                termination of employment.

            

    

    

    Sincerely,

    

    CALLIDUS
      SOFTWARE INC.

    

    

    /s/
      V.
      Holly Albert

    By:
      V.
      Holly Albert, Senior Vice President and General Counsel

    

    

    Accepted:

    

    

    Leslie
      J. Stretch

    Leslie
      J.
      Stretch

    

    Date:
      November 20, 2007EX-10.22

 

Exhibit 10.22

September 25, 2007

Eric Blachno

Dear Eric:

     You and Synacor, Inc. (the “Company”) signed an offer letter dated as of April 6, 2007 (the
“Offer Letter”), which was amended on April 22, 2007 (the “First Amendment”). This letter
supersedes and replaces Section 7 of the Offer Letter, as amended by the First Amendment, in its
entirety. The remaining terms of the Offer Letter, as amended by the First Amendment, remain in
full force and effect.

	 	7.	 	Severance Pay.

	 	a.	 	Pre IPO Date: If the Company terminates
your employment for any
reason other than Cause prior to the effective date of the registration
statement filed by the Company with the Securities and Exchange
Commission for its initial offering of its Common Stock to the public
(the “IPO Date”), then the Company shall pay you your base salary for
a period of 6 months following the termination of your employment.
Such base salary shall be paid at the rate in effect at the time of the
termination of employment and in accordance with the Company’s
standard payroll procedures.
	 
	 	b.	 	IPO Date: If the Company terminates
your employment for any
reason other than Cause upon or following the IPO Date, then the
Company shall pay you a total amount equal to (a) your annual base
salary plus (b) your annual target bonus amount. Such annual base
salary shall be paid at the rate in effect at the time of the
termination of
employment and in accordance with the Company’s standard payroll
procedures over a twelve-month period. Such annual target bonus
amount shall be paid, based on the annual target bonus amount for the
year in which the termination occurs, and in accordance with the
Company’s standard payroll procedures over a twelve-month period.
In addition, the Company will pay your COBRA premiums for a
twelve-month period following the date on which you and your
dependents lose health care coverage as a result of your employment
termination, provided that you and your dependents timely elect
COBRA.
	 
	 	c.	 	Change of Control Severance Benefits:
You will also sign the
attached agreement, entitled Change of Control Severance Agreement,
which provides for certain severance benefits in the event that there
are certain employment terminations following a change of control of
the Company, as set forth in further detail in the attached agreement.
	 
	 	d.	 	Release of Claims: This Section 7 will
not apply unless you (i) have
returned all Company property in your possession, and (ii) have executed a general release of all claims that you may have against the

 

 

	 	 	 	Company or persons affiliated with the Company. The release must be in
the form prescribed by the Company, without alterations. The Company
will deliver the form to you within 30 days after your employment
terminates. You must execute the release within the period set forth in
the prescribed form. The payments under Subsections (a) or (b) above, as
applicable, will commence on the Company’s first regularly scheduled
payroll date following the effective date of the release of claims.
	 
	 	e.	 	Code Section 409A: Notwithstanding any
other provision, if the Company determines that you are a “specified
employee” under Section 409A(a)(2)(B)(i) of the Internal Revenue Code
of 1986, as amended (the “Code”), when your employment terminates,
then (i) the payments under Subsection (a) or (b) above, as
applicable, to the extent not exempt from Section 409A of the Code,
will commence on the earliest practicable date that occurs more than
six months after the termination of your employment and (ii) the
installments that otherwise would have been paid during the first six
months after the termination of your employment will be paid in a lump
sum on the first day of the seventh month after the termination of
your employment. The amount of the payments under Subsection (a) or
(b), as applicable, will be reduced by the amount of any severance pay
or pay in lieu of notice that you receive from the Company under a
federal or state statute (including, without limitation, the WARN
Act).

     We hope that you will accept this amendment to the Offer Letter (“Second Amendment”). Except
as amended by this Second Amendment, the Offer Letter, as amended by the First Amendment, remains
in full force and effect.

     If you have any questions, please call me at (716) 362-3305.

	 	 	 
	 

	 	Very truly yours,

	 	 	 	 	 
	 	Synacor, Inc.

 	 
	 	/s/ Julia Culkin
 	 
	 	Julia Culkin 	 
	 	Vice President of Human Resources 	 
	 

 

 

I have read and accept this Second Amendment to the Offer Letter:

	 	 	 
	/s/ Eric Blachno
 

Signature of Eric Blachno

	 	 

Dated:      9/25/07

Attachment: Change of Control Severance Agreement

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