Document:

2014 Q1 LivePerson Ex. 10.1

SEPARATION AGREEMENT AND GENERAL RELEASE 
This Separation Agreement and General Release ("Agreement") is entered into by and between LivePerson, Inc. and its wholly owned subsidiary LivePerson Ltd. (referred to individually or together as the context requires, the "Company") and Eli Campo (the "Executive") is made as of December 16, 2013, and will become effective on the date of execution by both parties set forth on the last page hereof (the "Effective Date"). 
WHEREAS, the Executive received an offer letter from the Company dated December 21, 2006, and entered an employment agreement dated February 21, 2007 with LivePerson, Ltd. (f/k/a HumanClick Ltd), a wholly owned subsidiary of the Company (together, the "Employment Agreement"); and 
WHEREAS, the parties mutually desire to terminate their employment relationship as of the Separation Date (defined below) on the terms set forth herein; and 
WHEREAS, the parties wish to fully and finally resolve amicably the terms of the separation of their employment relationship and all matters between them, directly or indirectly connected to and/or arising from the employment relationship between them. 
NOW, THEREFORE, in consideration of the mutual promises and conditions set forth herein, the Company and the Executive agree as follows: 
		
	1.
	The preface to this Agreement constitutes an integral part hereof. 

		
	2.
	Executive acknowledges that the employment relationship between the parties will cease as of the Separation Date. Executive shall cease to be an employee, officer, agent or representative of the Company (or any of its parents, subsidiaries or affiliates) for any purpose and, accordingly, Executive undertakes not to represent himself, or hold himself out as, an employee, officer, agent or representative of the Company (or any of its parents, subsidiaries or affiliates) after the Separation Date for any purpose. 

		
	3.
	The Executive shall resign from all of his offices in the Company effective as of the Separation Date and shall execute any documents necessary for that purpose. "Separation Date" shall mean February 12, 2014, unless otherwise modified by the parties by mutual agreement. 

		
	4.
	Executive agrees that the only payments and benefits that he is entitled to receive from the Company as of and after the Separation Date are those specified in this Agreement. 

		
	5.
	Within reasonably prompt time following the Effective Date a full and final settlement of accounts will be carried out with the Executive, in the framework of which the Company shall: 

		
	5.1 
	Pay or otherwise release as described in Sections 5.2 and 5.3 below (i) any accrued, unused vacation days, in accordance with Company policy and applicable law; and (ii) all outstanding statutory benefits and reimbursable expenses owed to Executive on the Effective Date, including, if applicable, outstanding convalescence pay, statutory severance sick leave, annual leave, and all termination benefits, reimbursable travel or business expenses incurred within the Company's applicable policies, car benefits, and all other statutory benefits connected to or arising out of Executive's employment with the Company or its termination, in each case, to the extent such payment is owed to Executive under applicable law. Such items shall be either released as described in Section 5.2 and 5.3 below or registered in the Executive's last pay slip, which shall be the first pay slip following the Effective Date of this Agreement. 

5.2  Send customary release letters addressed to the relevant insurance companies, authorizing to transfer the ownership in the pension insurance policies to the Executive's name, including without limitation, the severance component (the "Severance Fund"). 
5.3  Send release letter addressed to the further education fund, authorizing it to release to the Executive all monies accumulated in the further education fund in the Executive's name. 
		
	6.
	In addition, subject to the terms of this Agreement, the Company shall provide the Executive the following mutually agreed benefits, which are additional to statutory benefits owed to Executive under applicable law (the "Additional Benefits") within a reasonably prompt time following the Effective Date of this Agreement: 

6.1  Additional severance in the amount of Executive's current base salary rate from the Separation Date through June 16, 2014 for total additional severance in the gross amount of 355,648.35 NIS, less all applicable withholdings and required deductions, which will be paid to Executive in one lump sum in the first regularly scheduled payroll date following the Effective Date of this Agreement, 
6.2  Executive will receive the Accelerated Option Consideration, as set forth in Paragraph 7 below, and 
6.3  Although Executive will not be an active employee at the time of 20 13 bonus payments, Executive shall be paid his 2013 bonus earned as part of, and in accordance with, Company's 2013 bonus plan and payment policies, and less all applicable withholdings and deductions, except that Company shall waive the requirement that Executive to be an active employee of Company at the time of the 2013 bonus payment. The Company's board of directors has authorized the calculation of Executive's gross bonus amount at 100% of target which is 417,600.00 NIS. Payment will be subject to all standard withholding and deductions, and will be made at the time and in the manner the Company pays 2013 bonuses to all personnel, but no later than March 15, 2014. 
		
	7.
	Executive acknowledges and agrees that, the Company granted the Executive the stock options to purchase shares of Company common stock set forth in Schedule A attached hereto and pursuant to the LivePerson 2009 Stock Incentive Plan or the Company's preceding stock incentive plan (together the "Options"). Executive further acknowledges and agrees that, as of the Separation Date, Executive is vested in a total of 250,425 of the Options (the "Vested Options") as detailed in Schedule A. 

As a part of the Additional Benefits, the Company agrees that 56,225 shares of unvested options held by Executive on the Separation Date, which represent option shares that (in accordance with their terms) would have vested between the Separation Date and the first anniversary of the Separation Date had the Executive continued to be actively employed by the Company during such period, shall accelerate and become fully vested upon the Effective Date of this Agreement (the "Accelerated Options"). 
Further, all Vested Options and Accelerated Options shall remain exercisable by Executive until the first anniversary of the Separation Date, February 12, 2015. Except as expressly set forth in this section, the Vested Option and Accelerated Options and any shares acquired pursuant to their exercise will remain subject to all of the terms and conditions of the stock option agreement evidencing the Option and the Stock Plan. Further, Executive acknowledges and undertakes that he has no other right, title or interest in any Company stock or stock options other than the Vested Option and Accelerated Options described in this Paragraph. 
		
	8.
	Except as otherwise provided herein, Executive's participation and coverage under all employee benefit plans and programs sponsored by or through the Company (or any of its affiliates) (e.g., company car, or any social benefits paid, contributed to or arranged by the Company) will cease as of the Separation Date. 

		
	9.
	In exchange for the Additional Benefits provided for in this Agreement, the receipt and sufficiency of which is hereby acknowledged by the Executive, and upon fulfillment of the Company's obligations described in Sections 5, 6 and 7 above, the Executive hereby forever unconditionally and irrevocably releases and discharges the Company, and each and all of its direct and indirect affiliates, parents, subsidiaries (wholly-owned or not), members, branches, divisions, business units or groups, agencies, predecessors, successors and assigns, any employee benefit plans established or maintained by any of the foregoing entities and each and all of their current and former officers, directors, employees, trustees, plan administrators, agents, attorneys, representatives, partners, advisor's and shareholders (collectively and individually, shall be referred as the "Released Parties"), from any and all claims, demands, causes of action, complaints, agreements, promises (express or implied), contracts, undertakings, covenants, guarantees, grievances, liabilities, damages, rights, obligations, expenses, debts and demands whatsoever, in law or equity, whether present or future, whether known or unknown, and of whatsoever kind or nature that the Executive, his heirs, executors, administrators, representatives and assigns ever had, now have or hereafter can, shall or may have, for, upon, or by reason of any alleged or actual matter, omission, act, cause or thing, including, but not limited to, those arising out of his employment with the Company or the termination thereof (the "Claims"). The Executive further agrees that he will not institute or authorize any other party, governmental or otherwise, to institute any administrative or legal proceeding seeking compensation or damages on his behalf against the Released Parties relating to or arising out of any Claim. 

		
	10.
	The Executive understands, acknowledges and undertakes that the full receipt of the payments and benefits due or provided to him under this Agreement, including without limitation the Additional Benefits, constitute a full and 

final settlement of everything owed to him by the Company, including with respect to salary, overtime payment, vacation pay, severance pay, sick leave, annual leave, redemption of annual leave, travel expenses, reimbursement of expenses, car, recuperation pay, prior notice, payment in lieu of prior notice, commissions, bonuses, social contributions of all kinds (including Pension Insurance, Further Education Fund etc.), benefit plans or programs and every other payment or social benefit whatsoever connected to or arising out of Executive's employment with the Company or its termination, including manner, process and circumstances of termination. Executive further confirms that this Agreement is also a letter of acknowledgment and settlement for severance pay in accordance with section 29 of the Israeli Severance Pay Law, 1963. 
In addition, the Executive understands and acknowledges that by signing this Agreement he is waiving and releasing any and all claims he may have concerning the terms and conditions of his employment and the termination of his employment including those prohibiting discrimination on the basis of age, sex, race, color, disability, religion, creed, national origin, ancestry, sexual orientation, gender expression, gender identity, handicap, marital status, domestic violence victim status, citizenship or any other protected factor or characteristic, prohibiting discrimination for requesting or taking a family or medical leave, prohibiting discrimination with regard to benefits or any other terms and conditions of employment, or prohibiting retaliation in connection with any complaint or claim of alleged discrimination or harassment and that he intends to do so. As such, this release includes, but is not limited to, any claims arising under any of the laws of the State of Israel and the United States and any other federal or state constitutions, federal, state or local statutes, or any contract or similar right, including every type of claim under any legal theory and whether or not the claim was known or unknown up through the Effective Date of this Agreement. The Executive further agrees that he will not institute or authorize any other party, governmental or otherwise, to institute any administrative or legal proceeding seeking compensation or damages on his behalf against the Released Parties relating to or arising out of any aspect of his employment or termination. 
		
	11.
	In consideration of the benefits described in this Agreement, the Executive acknowledges and agrees that following the Separation Date he will continue to be obliged (with no limit in time unless expressly indicated otherwise in writing) as follows: 

		
	a. 
	Executive agrees to provide reasonable transition assistance to the Company and to be reasonably available for meetings and consultations and to answer questions for the Company at mutually convenient times from the Separation Date through February 28, 2014. 

		
	b. 
	The Executive agrees, with reasonable notice, to provide information and cooperate with the Company as may be reasonably requested in connection with any claims or legal action in which the Company is or may become a party. 

		
	c. 
	Executive acknowledges and agrees that, at all times in the future, he is bound by confidentiality, intellectual property and non compete obligations under applicable law or agreement, including without limitation the Proprietary Information, Developments and Non-Compete Agreement entered into by and between Executive and the Company on February 22, 2007, and that those provisions are specifically incorporated herein. 

		
	d. 
	Without limiting the foregoing obligations, the Executive recognizes and acknowledges that all non public information pertaining to the software, business, clients, customers or other relationships of the Company is confidential and is a unique and valuable asset of the Company. The Executive will not give to any person, firm, governmental agency or other entity any information concerning the affairs, business, clients, or customers of the Company except as required by law. The Executive will not make use of this type of information for his own purposes or for the benefit of any person or organization other than the Company. All confidential information and intellectual property of the Company the Executive was exposed to or participated are confidential and will remain the property of the Company. 

		
	e. 
	For a twelve (12) month period after the Separation Date, the Executive (directly or indirectly, acting on his own behalf, or for or through or together with others and in whatever capacity) will not actively solicit or induce or attempt to solicit or induce any employee, independent contractor, customer or supplier of the Company to terminate their engagement with the Company or engage in activities that directly compete with the business of the Company. 

		
	12.
	In the event Executive breaches Paragraphs 9, 10, 11 (c), (d) or (e), or 14 of this Agreement, the Company must provide written notice to the Executive specifying the act which has breached this Agreement, and if such breach i

s not remedied within thirty (30) days, or if not capable of being remedied, than the Company will, without limiting its other rights, have the right to terminate any remaining post-employment Additional Benefits described in Section 6. The Executive agrees that the restrictions contained in Paragraphs 9,10, 11(c), (d) or (e), and 14 are essential elements of this Agreement. 
		
	13.
	On or promptly after the Separation Date the Executive will cooperate with the Company to follow the Company's standard practices for return of Company property and equipment in his possession or control including but not limited to, computer equipment (including, but not limited to, computer hardware, software and printers, wireless handheld devices, cellular phones, pagers, etc.), customer information, customer lists, employee lists, Company files , notes, contracts, records, business plans, financial information, specifications, computer-recorded information, software, tangible property, identification badges and keys, and any other materials of any kind which contain or embody any proprietary or confidential material of the Company (and all reproductions thereof). The Executive confirms that as of the Separation Date he has left intact all electronic Company documents, including those that he developed or helped to develop during his employment. The Executive further agrees that he has already cancelled (or transferred to his personal account) and/or will cooperate with the Company to cancel (or transfer to his personal account) all accounts for his benefit, if any, in the Company's name including, but not limited to, credit cards, bank accounts, company car, telephone charge cards, cellular phone accounts, pager accounts, computer accounts, prior to the Separation Date. 

		
	14.
	The Executive agrees that he will not, at any time, knowingly or intentionally disparage, criticize or ridicule the Company, its officers, directors, products, services or business practices. 

		
	15.
	All amounts payable under this Agreement shall be subject to deduction for all federal, state and local taxes as may be required to be withheld pursuant to any applicable law or regulation and any other required deductions. The parties intend that all payments made under this Agreement will be exempt from, the requirements of Section 409A of the Internal Revenue Code of 1986, as amended, the regulations and other guidance there under and any state law of similar effect (collectively "Section 409A"), if applicable, so that none of the payments or benefits will be subject to the adverse tax penalties imposed under Section 409A, and any ambiguities herein will be interpreted to so comply or be exempt. Each payment and benefit payable under this Agreement is intended to constitute separate payments for purposes of Section 1.409A-2(b)(2) of the Treasury Regulations. The Company shall have no liability to Executive or to any other person if the payments and benefits provided in this Agreement that are intended to be exempt from Section 409A are not so exempt or compliant. In no event will the Company reimburse Executive for any taxes or other penalties that may be imposed on Executive as a result of Section 409A, and Executive shall indemnify the Company for any liability therefor. 

		
	16.
	All amounts payable under this Agreement shall be subject to deduction for all taxes and compulsory deductions as may be required to be withheld pursuant to any applicable law or regulation and any other required deductions. 

		
	17.
	This Agreement amicably resolves any issues between the parties and they agree that this Agreement shall neither be interpreted nor construed as an admission of any wrongdoing or liability on the part of either the Executive or the Company. 

		
	18.
	This Agreement shall be governed by and construed in accordance with the laws of the State of Israel, except for those terms which, by their nature, relate specifically to the laws of the United States or the actions of the parent company within the United States, which shall be governed by the laws of New York, in each case, without regard to principles of conflicts of laws. 

		
	19.
	The provisions of this Agreement are severable. If any provision of this Agreement is held invalid or unenforceable, such provision shall be deemed deleted from this Agreement and such invalidity or unenforceability shall not affect any other provision of this Agreement, the balance of which will remain in and have its intended full force and effect; provided, however that if such invalid or unenforceable provision may be modified so as to be valid and enforceable as a matter of law, such provision shall be deemed to have been modified so as to be valid and enforceable to the maximum extent permitted by law. 

		
	20.
	The Executive acknowledges that he has been offered adequate time by the Company to review the Agreement and consult with an attorney of his choice if he desires to concerning the waivers contained in and the terms of this Agreement. Prior to executing this Agreement, the Executive shall ensure that the waivers he has made and the terms he has agreed to herein are done knowingly, consciously and with full appreciation that he is forever foreclosed from pursuing any of the rights so waived. 

		
	21.
	The Executive acknowledges that he: (a) has carefully read this Agreement in its entirety; (b) has had a reasonable opportunity to fully consider the terms of this Agreement; (c) has been provided adequate time to consult with an attorney of his choice if he desires to before signing this Agreement; (d) in accordance with Section 20 and clause (c) above, fully understands the significance of all of the terms and conditions of this Agreement; and (e) is signing this Agreement voluntarily and of his own free will and agrees to abide by all the terms and conditions contained herein. 

		
	22.
	[Intentionally Omitted.] 

		
	23.
	This Agreement shall be binding on and shall inure to the benefit of the Executive's heirs, executors, administrators, representatives and assigns and the Company's successors in interest and assigns. The Executive may not assign any of his rights or duties hereunder, except with the written consent of the Company. The Executive covenants and represents that he has not assigned or attempted to assign any rights or claims he may have against the Company at any time prior to signing this Agreement. 

		
	24.
	The parties agree that this Agreement contains all terms agreed between the parties relating to the termination of Executive's employment with the Company and supersedes and cancels any and all prior agreement or understanding on the subjects covered herein, and no agreements, representations or statements of either party not contained in this Agreement shall bind that party. Notwithstanding the foregoing, the Executive acknowledges that nothing herein supersedes any pre-existing duties of confidentiality, or the assignment of any invention or intellectual property or proprietary rights to the Company. This Agreement can be modified only in writing signed by both parties. 

		
	25.
	Executive agrees that this Agreement may be executed in counterparts, each of which shall be an original, but all of which together shall constitute one agreement. Execution of a facsimile or scanned image shall have the same force and effect as execution of an original, and a facsimile or scanned image of a signature shall be deemed an original and valid signature. 

    

IN WITNESS WHEREOF, the parties have executed this Separation Agreement and General Release.
	
					
	Eli Campo
	 
	LivePerson, Inc., on behalf of itself and LivePerson, Ltd.

	 
	 
	 
	 
	 

	By:
	/s/ ELI CAMPO
	 
	By:
	/s/ DANIEL R. MURPHY

	Name:
	Eli Campo
	 
	Name:
	Daniel R. Murphy

	Date:
	2/22/2014
	 
	Date:
	2/21/2014

SCHEDULE A
Options
	
										
	Grant Date
	Original Shares Issued
	Shares Vested
	Shares not yet vested
	Exercised 2010
	Exercised 2011
	Remaining Shares
	Remaining Shares Vested
	Remaining Shares Unvested
	Remaining Unvested Shares Vesting in 12 mo.

	2/21/2007
	300,000
	300,000
	—
	—
	225,000
	75,000
	75,000
	—
	N/A

	4/1/2008
	27,000
	27,000
	—
	13,500
	6,750
	6,750
	6,750
	—
	N/A

	3/5/2009
	100,000
	100,000
	—
	—
	—
	100,000
	100,000
	—
	N/A

	6/17/2010
	24,900
	18,675
	6,225
	 
	—
	24,900
	18,675
	6,225
	6,225

	9/4/2012
	200,000
	50,000
	150,000
	 
	 
	200,000
	50,000
	150,000
	50,000

	Totals:
	651,900
	495,675
	156,225
	13,500
	231,750
	406,650
	250,425
	156,225
	56,2252014 Q1 LivePerson Ex. 10.2

November 7, 2013

Eran Vanounou 
Hagai 9 Street 
Ramat-gan Israel 

Dear Eran: 

I am pleased to offer you the position of Chief Technology Officer at LivePerson, based in Ra'anana, Israel with your approximate scheduled start date toward the end of January 2014, to be mutually agreed and finalized by Employee and Company. This letter confirms the key terms and conditions of our employment offer to you: 

		
	•
	You will be paid salary at a rate of 104,000 NIS (gross) per month according to our standard Israel payroll practices as they may exist from time to time 

		
	•
	You will be eligible to participate in the LivePerson bonus plan as it exists from time to time under terms comparable to other LivePerson employees of similar role and responsibility. Your annual target bonus will be US$130,000. Achievement of your bonus target and actually payout will be based upon the Company's financial performance as well as individual MBOs applicable to the relevant fiscal year, all to be further detailed in your     annual bonus plan and pursuant at all times to the Company's then-current bonus practices. Bonus payments will be made in local currency, to be converted from US dollars to NIS at the time of payment. During your first year of employment, your annual target bonus will be prorated for actual months of service during the year. LivePerson reserves the right to amend or terminate its bonus plan or any terms or criteria thereunder, and corresponding policies, at any time. 

		
	•
	You will be granted an unvested option to purchase 110,000 shares of LivePerson common stock which grant and strike price will be set and subject to approval by the LivePerson Board of Directors on the first option grant date following your employment start date, which is expected to occur in February 2014. This option will be granted under the terms and conditions of the LivePerson 2009 Stock Incentive Plan and the Notice of Grant of Stock Option and Stock Option Agreement in effect as of your start date (the "Plan Documents"), which will be issued to you at the time of the grant. This option will vest in equal increments of 25% annually over four (4) years, beginning on the first anniversary of the grant date, subject to your continued service to the Company through each vesting date and the terms of the Plan Documents. 

		
	•
	Your direct employment will be with the Company's subsidiary in Israel, LivePerson Ltd. With respect to the duties and responsibilities of your role you will also take direction from and have full obligations to LivePerson, Inc. (the parent company of LivePerson Ltd.). 

		
	•
	You will be eligible for vacation in accordance with LivePerson's vacation policy as it exists from time to time.  Under the current policy, you will accrue vacation at the rate of 1.85 days vacation per month (22 days per full year), subject to the LivePerson vacation policy, as it may be amended from time to time.

		
	•
	You will be eligible to enroll in the applicable local LivePerson health and other benefits programs on the first day of the first full calendar month of your employment subject to the terms and conditions of the applicable plans and policies as they may exist from time to time and as further described in the attached Rider A, your direct employment contract with the Company's subsidiary LivePerson Ltd ("Israel Employment Terms). 

		
	•
	In connection with your acceptance of the position and employment with the Company, you will be covered by the relevant insurance and indemnification policies and practices of the Company and its subsidiary LivePerson Ltd to the same extent such policies apply to all employees or to all employees of similar role and responsibility, including without limitation the Company's Directors and Officers Insurance policies and standard indemnification agreements and practices. 

		
	•
	This offer is made contingent upon your successful completion of the Company's pre-employment procedures, including reference and background verification of your prior employment and other information provided by you during the interview process, as well as proof of identity and authorization to work under applicable laws,  In 

addition, this offer is made contingent upon your execution of the Company's standard Israel Employment Contract, Code of Conduct, Confidential Information and Invention Assignment Agreement, and similar agreements required of all employees, and your ability to start employment within a reasonable time from the target start date set forth above acceptable to Company. 

		
	•
	By signing this letter you confirm that to the best of your knowledge you are not subject to any agreement, with a prior employer or otherwise, which would prohibit, limit or otherwise be inconsistent with your employment at LivePerson or prevent you from performing your obligations to LivePerson following your start date with LivePerson. Additionally, please be advised that it is LivePerson's corporate policy not to obtain or use any confidential, proprietary information or trade secrets of its competitors or others, unless it is properly obtained from sources permitted to disclose such information.  By signing this letter below, you are acknowledging that you have been advised of this policy and that you accept and will abide by it during your employment with LivePerson, and you are also agreeing that you will not use or disclose any confidential or proprietary information of LivePerson to any third party, including any previous or subsequent employer. 

		
	•
	Your employment with LivePerson is at-will and may be terminated by you or LivePerson at any time with or without cause subject only to the provisions below and in the attached Rider A. 

		
	•
	In the event that your employment is terminated by the Company without Cause, and provided that within sixty (60) days following your termination date you timely execute and do not revoke a separation and release agreement drafted by and satisfactory to the Company (the "Separation Agreement"), the Company will provide you with 120 days notice, or at the Company's option, 120 days  of your then-current base salary, payable in accordance with the Company's standard payment procedures and subject to your Israel Employment Terms.  For the avoidance of doubt, the foregoing severance shall not be paid in the event that your employment is terminated due to your voluntary resignation except as required by applicable law.  In the event that you at any time wish to voluntarily terminate your employment you will provide the Company with at least 120 days notice as set forth in your Israel Employment Terms.  For clarification, the severance provisions above will apply in the event that your employment is terminated by Company or any successor to Company unless your employment is terminated due to one or more of the circumstances described in the definition of "Cause" below. 

		
	•
	For purposes hereof, "Cause" shall  mean  a determination  by the Company (which determination shall not be arbitrary or capricious)  that: (i) you materially failed to perform your specified or fundamental duties to the Company or any of its subsidiaries, (ii) you were convicted of, or pled nolo contendere to, a felony (regardless of the nature of the felony), or any other crime involving dishonesty, fraud, or moral turpitude, (iii) you engaged in or acted with gross negligence or willful misconduct (including but not limited to acts of fraud, criminal activity or professional misconduct) in connection with the performance of your duties and responsibilities to the Company or any of its subsidiaries, (iv) you failed to substantially comply with the rules and policies of the Company or any of its subsidiaries governing employee conduct or with the lawful directives of the Board of Directors. or (v) you breached any non-disclosure. Non-solicitation or other restrictive covenant obligation to the Company or any of its subsidiaries. 

		
	•
	This letter shall not be construed as an agreement (either express or implied) to employ you, or for any guaranteed term of employment, and shall in no way alter the Company's policy of employment at-will, under which both the Company and you remain free to end the employment relationship for any reason, at any time, with or without cause or notice (except as expressly provided above).  This letter, together with the terms and conditions of your Israel Employment Terms, the Code of Conduct, the Confidential Information and Invention Assignment Agreement, and all similar Company agreements and policies applicable to all employees or applicable to all employees of similar role and responsibility, comprise the complete terms of your employment with the Company. 

Please indicate your acceptance of this offer by signing below and returning one copy to me. You will also receive additional information about LivePerson as well as some forms and documents that you must complete prior to your start date.  Your employment is contingent upon the return of the requested material.  If you have any questions, please do not hesitate to contact me. 

LivePerson is a dynamic organization with tremendous growth opportunities. We look forward to you joining us and hope that you share our excitement for the opportunity it presents to everyone on the team. 

Sincerely, 

/s/ Robert LoCascio 
Robert LoCascio 
CEO 

	
					
	Accepted by:
	/s/ Eran Vanounou
	 
	11/7/2013
	 

	 
	Name
	 
	Date
	 

RIDER A
Employment Contract with LivePerson Ltd 

RIDER A

(Manager) 

EMPLOYMENT AGREEMENT 
Constituting also Notice to the Employee as required by law 
Signed on November 7, 2013

Between:    Eran Vanounou (Hereinafter the "Employee")

And:         Liveperson Ltd 
I.D number 512796756 
(Hereinafter the "Company") 

1.    Employment 
The Company agrees to employ the Employee in the position of Chief Technology Officer and the Employee agrees to perform services and be employed by the Company in said position in accordance with the terms and conditions set forth in this Agreement, together with the attached offer letter (the "Offer Letter"). 
The Employee's direct manager will be the CEO of LivePerson, Inc., (the parent company of Company) and the Employee will report to him/her directly. 
2.    Term of Agreement
2.1.     The term of this Agreement shall commence on the Employee's start date of employment toward the end of January, 2014, with precise date to be finalized by Employee and Company, and shall continue until a written notice of termination is given, as provided in this Agreement below. 
2.2.     The Employee's regular place of employment shall be in the Company's Offices in Israel, located at Ra'anana, and might include travel and periods of work abroad according to the requirements of the job. 

3.     The Employee's Undertakings 
3.1.     During the entire Term, the Employee shall provide his/her services and shall be bound by his/her obligations under the position in accordance with directives received from the General Manager of the Company and shall report to his/her direct manager. 
3.2.     During the entire Term, the Employee will devote, subject to the provisions of this Agreement, all of his/her working time toward fulfilling his\her obligations and duties to the Company and will carry out his\her job faithfully and devotedly, in accordance with the objectives of the Company, as defined by the Company's Board of Directors, from time to time. 
3.3.     The Employee shall notify the Company immediately of every matter or transaction in which he\she has a significant personal interest and/or which might create a conflict of interest with his/her position in the Company. 

4.    Compensation

4.1.     As a base salary for the Employee's services to the Company, the Company will pay the Employee the amount of 104,000 NIS (gross) per month. The salary will be adjusted to the cost of living in accordance with the then applicable law (`Tosefet Yoker"). 

4.2.     Since the Employee is employed in a managerial position, the Employee declares and agrees, that the Hours of Work and Rest Law ,5711-1951 does not apply to him/her. Therefore, the Employee is not entitled to any compensation for working overtime hours, and his/her Compensation includes compensation for any overtime work 

that should be required from time to time, all according to the Company's needs and demands. 

4.3.     Therefore, the Employee agrees and confirms, that if he/she shall raise a demand contradicting the aforementioned and claim payments for overtime work, his/her salary shall be recalculated at 80% of his/her salary according to the Agreement, and the Employee shall be obliged to refund the difference to the Company. 

4.4.     Compensation will also include the stock options and bonus eligibility described in the Offer Letter and subject to the terms and conditions set forth therein. 

5.     Company Car/ Expenses 

5.1.     The Employee shall have the option to choose, for his/her use, a vehicle, in an operational leasing plan, in the same terms and conditions that shall be applicable to the Company's employees, at the relevant date, and according to the vehicle procedure which exists in the Company and constitutes as an unseparateble part of this Agreement herein. In the event that the Employee chooses to take such vehicle, he/she agrees to the deduction of a monthly amount as detailed in the vehicle procedure (including for the purpose of social contributions). All tax consequences of the Employee's benefits under this section shall be borne by the Employee, and shall be deducted from the Employee's Compensation. 

5.2.     The Employee confirms that he is aware that the Company is engaging with the leasing company in a multiple year program and in case he/she shall decide to receive a vehicle he/she undertakes to maintain the vehicle throughout the leasing period. If the Employee decides to return the vehicle within the leasing period,, as determined in the vehicle agreement, he/she shall be liable for the full payment which the Company shall pay the leasing company, and such payment shall be deduced from his/her salary. Maintenance payments for the vehicle shall be borne by the Company, excluding traffic and/or parking fines which shall be borne by the Employee and excluding any other sum, as determined in the Company's vehicle procedure. 

5.3.     The Employee undertakes to pay such fines and/or payments, immediately upon the receipt of any such fines and/or payments. 

5.4.     The Employee hereby agrees that the Company shall be entitled to deduct, from any sum due to the Employee, the sums which are due by the Employee, including for traffic fines and/or other payments related to the vehicle and/or to the driver of the vehicle. 

5.5.     The Company shall participate in the Employee's transport expenses to work and back, in the sum of 1,000 NIS per month. 

6.     Severance Pay and Managers' Insurance 
6.1 The Company shall pay and deduct (as detailed hereinafter) from the Employee's Monthly Salary defined in section 4 above, on behalf of the Employee, the following amounts to a Managers' Insurance Policy (the "Managers' Insurance"), and/or a comprehensive pension plan("Pension Plan"), according to the Employee's choice, (severally or jointly, as applicable, the "Insurance") through an insurance company according to the Employee's choice, to be divided as follows: 

6.1.1  Managers' Insurance: The Company shall pay a sum of up to 13.3% of the Employee's Monthly Salary towards the Insurance, of which 8.33% will be on account of severance pay and 5% on account of pension fund payments (the "Tagmulim") and up to a further 2.5% of the Employee's Monthly Salary on account of disability pension payments. The Company shall deduct 5% from the Employee's Monthly Salary to be paid on behalf of the Employee towards such Insurance. 

6.1.2  Pension Plan: The Company shall pay a sum of up to 14.3% but not less than 13.33% of the Employee's Monthly Salary towards the Pension Plan, of which 8.33% will be on account of severance pay and 6% on account of pension fund payments (the "Tagmulim"). The Company shall deduct 5.5% from the Employee's Monthly Salary to be paid on behalf of the Employee towards such Insurance. 

6.1.3  The Parties hereby accept the terms of the General Approval Regarding Employer Payments to Pension Fund 

and Insurance Policy In Lieu of Severance Pay and declare that the payments specified in this subsection 6.1 are in lieu of all the Company's obligations under the Severance Pay Law, 5723-1963. The General Approval Regarding Employer Payments to Pension Fund and Insurance Policy En Lieu of Severance Pay is attached as appendix A herewith and constitutes an integral part hereof. 

7.    Study Fund Contributions
The Company shall pay a sum equal to 7.5% of Employee's Monthly Salary and shall deduct 2.5% from the Employee's Salary to be paid on behalf of the Employee to the Study Fund in which the Company participates. 
8.    Recreation Payment
Recreation payment ("D'mei Havra'a") shall be paid as required by law.

9.    Vacation and Sick Leave

9.1     The Employee shall be entitled to an annual paid vacation of 22 days per year. The Employee shall use all of his/her vacation days and the annual vacation can be accumulated only up to one year and a half. The Employee will be entitled to a vacation at the dates that suit his/her needs, but only upon advance coordination and prior approval of such vacation with his/her supervisor. 

9.2     The Employee shall be entitled to up to 18 days per year as Sick Leave according to the then prevailing applicable law. 

10. Termination of Agreement 

10.1     The Company and the Employee shall both have the right to terminate the Employee's employment with the Company at any time during the Term upon giving a prior written notice of 120 days. 
During the Termination Notice Period, the Employee will continue to provide his/her services and cooperate with his/her replacement unless the Company terminates the employer-employee relationship prior to the end of the Termination Notice Period. During the Termination Notice Period, the Company will continue to pay the Employee all payments and honor all commitments owed to the Employee in accordance with this Agreement. Without derogating from any of the Company's rights, the Company may elect to terminate the Employment forthwith, and to pay the Employee the payments then due to him/her under any applicable law in lieu of an Early Notice Period. Such payments shall be calculated solely on the basis of the Compensation. 

10.2     The Company may terminate the Employee's employment immediately for cause.  For purposes of this Agreement, termination for "cause" shall mean a determination by the Company (which determination shall not be arbitrary or capricious)   that: (i) you materially failed to perform your specified or fundamental duties to the Company or any of its subsidiaries, (ii) you were convicted of, or pled no contest to, a felony (regardless of the nature of the felony), or any other crime involving dishonesty, fraud, or moral turpitude, (iii) you engaged in or acted with gross negligence or willful misconduct (including but not limited to acts of fraud, criminal activity or professional misconduct)  in  connection  with  the  performance  of your duties and responsibilities to the Company or any of its subsidiaries, (iv) you failed to substantially comply with the rules and policies of the Company or any of its subsidiaries governing employee conduct or with the lawful directives of the Board of Directors, or (v) you breached any non-disclosure, non-solicitation or other restrictive covenant obligation to the Company or any of its subsidiaries. If the employment of the Employee is terminated for cause, then the Employee shall only be entitled to severance pay in the amount required by law, if required. 
10.3     In the event of any termination of his/her employment, for whatever reason, the Employee will promptly deliver to the Company all (i) documents, data, records and other information pertaining to his/her employment or any Proprietary Information (as defined in Section 12 below) or any Company Inventions    (as defined in Section    11 below), and    (ii) any other equipment belonging to the Company in the Employee's possession or under his/her control (including without limitation the Company car), and the Employee will not take with him/her any documents or data, or any reproduction or excerpt of any documents or data, containing or pertaining to his/her employment or any Proprietary Information or Company Inventions. 
10.4     The undertakings of the Employee herein with respect to Proprietary Information, Disclosure and Assignment of Inventions and Non-Competition shall survive the end or termination, for any reason, of this Agreement, and shall 

survive the termination of the Employee's employment with the Company, 
11.    Confidentiality and Proprietary Information

11.1.     During the Term and thereafter the Employee shall preserve the confidentiality of all information related to the business and activities of the Company, including all information relating to its technology, products, suppliers and clients, and shall not reveal any such information to a third party of any kind. 
11.2     All right, title and interest in and to any of the products, materials, methods, processes,  techniques,  know-how,  data,  information  and  other  results whatsoever, discovered or occurring in the course of or arising from the performance of the work of the Employee under the Agreement, and for a period of 6 (six) months following the termination of the employment under this Agreement, and any rights in respect thereof, either registered title and copyrights or not, and all said rights the extent they derive from the work of the Employee under this Agreement, and in and to any drawings, plans, diagrams, specifications, and other documents containing any said information, shall vest in the Company exclusively. 
11.3     The Employee undertakes not to use or disclose any confidential information or trade secrets, if any, of any former employer or other third party to whom the Employee has an obligation of confidentiality, and the Employee will not bring onto the premises of the Company or use or disclose any unpublished documents or any property belonging to any former employer or other third party to whom the Employee has an obligation of confidentiality unless consented to in writing by that former employer or other third party.  The Employee acknowledges that in the performance of his duties he must only use information which is generally known and used by persons with training and experience comparable to his own, which is common knowledge in the industry or otherwise legally in the public domain, or which is otherwise provided or developed by the Company. 
11.4     In addition, and without derogating from the above, and with accordance to section 134 to the Patents Law, 5727 - 1967 (hereinafter: the Patents Law), the Employee hereby gives up on all and any right and/or payment of royalties and/or payments of compensation and/or any payment and/or any right with regards to all and any service invention as defined in section 132 of the Patents Law or any other invention the Employee may invent during his employment. 

12.    Non-competition

12.1     The Employee agrees that during the term of this Agreement and any extensions hereof and for a period of one (1) year after he/she ceases to be employed by the Company he/she will not, for his/her own account or as an employee, officer, director, partner, joint venture, shareholder,  investor, consultant or otherwise (except as an investor in a corporation whose stock is publicly traded and in which Employee holds less than 5% of the outstanding shares) interest himself in or engage in any Competitive Activity anywhere in the world. For the purpose of this clause, "Competitive Activity" shall mean the development, production, sales and/or marketing of any product that competes with any product developed and/or produced by the Company, or is in the process of being developed and/or produced by the Company, during the Employee's employment. 

12.2     The Employee agrees that during a period of one year from termination of this Agreement or any extension hereof he shall not employ directly or indirectly any individual then employed by the Company. 

12.3     The Employee  acknowledges  that  the  restricted  period  of time  and geographical area specified under paragraph 12.1 hereof are reasonable, in view of the nature of the business in which the Company is engaged, the Employee's knowledge of the Company's Business and products and the Compensation he/she receives. 

12.4     Notwithstanding anything contained in paragraph 12.3 to the contrary, if the period of time or the geographical area specified under paragraph 12.1 and 12.2 hereof should be determined to be unreasonable in any judicial proceeding, then the period of time and area of the restriction shall be reduced so that this Agreement may be enforced in such area and during such period of time as shall be determined to be reasonable by such judicial proceeding. 

12.5     The Employee acknowledges that the Compensation he/she receives hereunder is paid, inter alia, as consideration for his/her undertaking contained in this section. 

13.     Miscellaneous 

13.1     Any tax consequences and/or national security payments arising from or in connection to this Agreement shall be borne solely by the Employee. 

13.2     This Agreement represents the entire agreement of the Parties and may be amended only by a written amendment executed by both parties. 

13.3    This Agreement shall be governed by the law of the state of Israel.

In WITNESS WHEREOF, the parties have signed this Agreement on the date set forth above.  

	
					
	/s/ Robert LoCascio
	 
	 
	/s/ Eran Vanounou
	 

	The Company
	 
	 
	The Employee
	 

Appendix A
General Authorization (Combined Version) Regarding Employee Payments to a Pension Fund and Insurance Fund In Lieu Of Severance Pay 
In Accordance with the Severance Pay Law 5723-1963
updated as of Feb. 18, 2001 
By virtue of my authority under Section 14 of the Severance Pay Law 5723-19631 (hereinafter, "The Law"), I hereby confirm that payments made by an employer beginning on the date this authorization is publicized, for his employee, for a comprehensive pension in a provident fund for benefit payments, which is not an insurance fund as implied in the Income Tax Regulations (Rules for Approving and Managing Provident Funds) 5724-19642 (hereinafter, "A Pension Fund"); or for manager's insurance that includes an option for benefit payments or a combination of payments into a benefits scheme and a non-benefits scheme3 in the said insurance fund (hereinafter, "Insurance Fund"), including payments that were made as a combination of payments to a Pension Fund and an Insurance Fund, whether or not the Insurance Fund has a benefits scheme (hereinafter, "Employer Payments"), shall be in lieu of the severance pay to which the said employee is entitled against the wages from which the said payments were paid and the period for which they were paid (hereinafter, "The Exempted Salary"), and provided the following conditions shall be present: 

1.     Employer payments - 
(A) to a Pension Fund are not less than 14 1/3 of the Exempted Salary, or 12% of the Exempted Salary if the employer pays for his employee, in addition to this, supplementary severance payments into a severance pay fund or an Insurance Fund under the name of the employee, at a rate of 2 1/3% of the Exempted Salary. If, in addition to the 12%, the employer does not pay the said 2 1/3%, his payments shall be only in lieu of the 72% of the employee's severance pay. 
(B) to an Insurance Fund are not less than one of the following: 
(1)  13 1/3% of the Exempted Salary, if the employer pays for his employee additional monthly income supplement benefits in the case of an employee's inability to work, through a plan approved by the Supervisor for Capital Markets, Insurance and Savings in the Ministry of Finance, at a rate necessary to guarantee at least 75% of the Exempted Salary, or at a rate of 2.5% of the Exempted Salary, whichever is lower (hereinafter, "Payment for the Loss of Ability to Work Insurance"); 
(2) 11% of the Exempted Salary, if the employer paid an additional payment for the Loss of Ability to Work Insurance, and in such case the employer's payments shall be in lieu of 72% of the employee's severance compensation only; if, in addition to such payments, the employer has also paid payments for the supplement of severance pay to a Severance Pay Fund or an Insurance Fund under the name of the employee at a rate of 2 1/3% of the Exempted Salary, the employer's payments shall be in lieu of 100% of the employee's severance pay. 

2.     Not later than three months from the commencing of the performance of the employer's payments a written agreement shall be prepared between the employer and the employee, which shall include: 
(A) The employee's agreement to an arrangement in accordance with this authorization, in wording that specifies the employer's payments and the Pension fund, as relevant; the said agreement shall also include the wording of this authorization; 
(B) 5The employer's prior waiver of any right he may have to a financial reimbursement from his payments, unless the employee's right to severance pay is  rescinded by a judicial decree, by virtue of paragraphs 16 or 17 of the Law,6 and if rescinded or that the employee withdrew funds from the Pension Fund or from the Insurance Fund not for a qualifying incident; in this regard, a "qualifying incident" - death, disability or retirement at the age of 60 or older. 
(C) This authorization shall not derogate from the employee's right to severance pay under the law, collective agreement, and expansion order or employment contract, for wages exceeding the Exempted Salary. 
1 Legal Code 5723, p. 136. 
2 Collection of Regulations 5724, p. 1302. 
3 Amendment: Gazette 4970, p. 1949, 5761 (Mar. 12, 2001). 
4 Amendment: Gazette 4970, p. 1949, 5761 (Mar. 12, 2001). 
5 Amendment: Gazette 4803, 5760 (Aug. 23, 1999). 
6 Amendment: Gazette 4970, p. 1949, 5761 (Mar. 12, 2001). 

          (-) 
Eliyahu Yishai 
Minister of Labor and Social Affairs 

	
					
	/s/ Robert LoCascio
	 
	 
	/s/ Eran Vanounou
	 

	The Company
	 
	 
	The Employee

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