Document:

exv10w8w1

Exhibit 10.8.1

Form of Director Change of Control Agreement — Full Single-Trigger

[Date]

[Name]

[Title]

Callidus Software Inc.

Dear [Name]:

This letter modifies any Stock Option Agreement (“Option Agreement”) and any Restricted Stock Unit
Agreement or other agreement documenting any equity award (as applicable, any “Equity Award
Agreement”) you may now or hereafter have with respect to the common stock of Callidus Software
Inc. (the “Company”) and any prior agreement between you and the Company regarding the Equity Award
Agreements including, without limitation, any prior change of control agreement(s). This letter
provides for accelerated vesting of your Company stock options, restricted stock awards, restricted
stock units and other equity-based awards, as applicable (collectively, the “Equity Awards”) under
the conditions described below.

In the event of any “Change of Control” of the Company you shall receive 100% vesting of your
Equity Awards as of the effective date and time of the Change of Control.

     For purposes of the above, “Change of Control” means:

	 	(i)	 	The acquisition by any “person” (as such term is used in Sections 13(d) and
14(d) of the Exchange Act) of “beneficial ownership” (as defined in Rule 13d-3 under
said Act), directly or indirectly, of securities of the Company representing fifty
percent (50%) or more of the total voting power represented by the Company’s then
outstanding voting securities (it being understood that securities owned by any person
on the date hereof shall not be counted against such limit with respect to such
person); or
	 
	 	(ii)	 	A change in the composition of the Board of Directors of the Company (the
“Board”) occurring within a rolling two-year period, as a result of which fewer than a
majority of the directors are Incumbent Directors. “Incumbent Directors” shall mean
directors who either (A) are members of the Board as of the date hereof, or (B) are
elected, or nominated for election, to the Board with the affirmative votes of at least
a majority of the Incumbent Directors at the time of such election or nomination (but
shall not include an individual not otherwise an Incumbent Director whose election or
nomination is in connection with an actual or threatened proxy contest relating to the
election of directors to the Board); or

 

 

	 	(iii)	 	A merger or consolidation involving the Company other than a merger or
consolidation which would result in the voting securities of the Company
outstanding immediately prior thereto continuing to represent (either by remaining
outstanding or by being converted into voting securities of the Surviving Entity
(including the parent corporation of such Surviving Entity)) at least fifty percent
(50%) of the total voting power represented by the voting securities of the Company
or such Surviving Entity outstanding immediately after such merger or consolidation,
or a sale or disposition by the Company of all or substantially all the Company’s
assets.

The term “Surviving Entity” shall refer to the entity surviving the merger, consolidation or sale
of substantially all of the assets and continuing with the assets or business of the Company in the
case of a Change of Control event described in clause (iii) above.

The modification to the terms of the vesting schedule of your Equity Awards as described in this
letter has been approved by the Board and is effective immediately.

Sincerely,

[Insert Name]

[Insert Title]

AGREED AND ACCEPTED this            day of                      20     .

                                                            

[Name]

2exv10w26

Exhibit 10.26

April 27, 2010

Saied R Karamooz

1 Cross Gate

Wayne, PA 19087

Dear Saied:

Congratulations on your new position as Senior Vice President, Client Services, effective as of May
3, 2010 reporting to Leslie Stretch, President and Chief Executive Officer.

Your starting salary will be $230,000.00 per year, which equals $19,167.00 per month, subject to
periodic review. In addition, you will be eligible to participate in an annual executive incentive
compensation plan of 100% 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. 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 100,000 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 business 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. In addition, we will recommend to
the Board of Directors that you be awarded 100,000 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 your
employment with the Company (the “Award Date”) and such RSU shall vest over a period of three (3)
years with 33.33% of the shares vesting on the first standard quarterly Company vesting date 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.

As this position requires you to reside in California, the Company will also provide you with an
initial expense allowance paid in a lump sum of $20,000 to cover some of the costs associated with
the relocation of you and your family from Pennsylvania to Pleasanton, California. These expenses
may include packing and movement of household goods, transit insurance for household effects,
transportation expenses to new location, temporary living expenses (lodging and food), and house
hunting trip. Please note you are responsible to contract with a moving company and will be
responsible for filing any and all claims for losses or damage directly with

	 	 	 	 

	Callidus Software Inc.

	 	 	Phone 408 808 6400
	160 West Santa Clara Street, Suite 1500

	 	 	Fax 408 271 2662
	San Jose, CA 95113

	 	 	www.callidussoftware.com

 

 

Offer Letter — Senior Vice President, Client Services

Page 2

the carrier. Under no circumstances will Callidus Software assume the responsibility for
personal or property damage incurred while traveling or moving.

The expense allowance will be included in your W-2 as ordinary income and is subject to withholding
of applicable income and employment taxes. The company will provide you a lump sum payment with the
May 30, 2010, paycheck. Please retain your original receipts for your own records in anticipation
of your 2010 personal tax reporting, and defer to the IRS regulation on permissible expenses.

In addition, to cover some of your housing expenses in California, starting on May 30, 2010 the
Company will pay you in a lump sum with your May 30, 2010 paycheck $30,000. This payment will be
reported as taxable wages on your W-2 Form. In the event that you resign your position or your
employment at Callidus Software is terminated for Cause within the 12 months following your receipt
of an expense allowance, you agree to repay any relocation expense or housing allowance paid by
Callidus Software to you or on your behalf. You agree that your repayment to Callidus of the
relocation expense or housing allowance previously paid to you by Callidus shall be made by you no
later than thirty (30) days after your termination date. However, should Callidus Software
terminate your employment for any reason other than for cause you will not be obligated to repay
any relocation expenses paid by Callidus Software to you or on your behalf.

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 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 and they are subject to Board approval.

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. This offer is contingent on you having 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.

 

 

Offer Letter — Senior Vice President, Client Services

Page 3

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 Callidus 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.

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 V. Holly Albert,
Senior Vice President and General Counsel via the enclosed Federal Express envelope or otherwise
to: Callidus Software, Attn: V. Holly Albert, Senior Vice President and General Counsel, 160 West
Santa Clara Street, Suite 1300, San Jose, CA 95113, not later than April 28, 2010 at Noon PST.

	 	 	 	 

	Callidus Software Inc.

	 	 	Phone 408 808 6400
	160 West Santa Clara Street, Suite 1500

	 	 	Fax 408 271 2662
	San Jose, CA 95113

	 	 	www.callidussoftware.com

 

 

Offer Letter — Senior Vice President, Client Services

Page 4

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,

/s/ Leslie Stretch

 

Leslie Stretch

President and Chief Executive Officer

Callidus Software Inc.

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

	 	 	 	 	 

	/s/ Saied Karamooz

	 	27 April 2010	 	 
	 

Signature of Saied Karamooz

	 	 

Date
	 	 

I agree to start work for Callidus Software on: May 3, 2010 (“Start Date”)

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