Document:

Prepared by R.R. Donnelley Financial -- Employment letter dated March 25, 2002

  
 EXHIBIT 10.10 
  
 March 25, 2002 
  
 Geno Tolari 
 9550 Santos Ranch Road 
 Pleasanton, CA 94588 
  
 Dear Geno, 
  
 On behalf of the Board of Directors at Saba, I am pleased to invite you to join the
Saba community as the President and Chief Executive Officer reporting to the Board. We believe Saba is a visionary company with a first rate team of people who are passionate, accomplished, innovative, and who enjoy being challenged and energized by
change. We are all excited about your joining the company and believe that it signals that Saba is transitioning from an exciting start-up to a growing, major company with a strong future. 
  
 Your starting annual base salary will be $250,000 (paid semi-monthly). In addition, you are eligible to participate in the 2003 Executive Incentive Plan for fiscal year
2003 (to be determined). The Compensation Committee of the Board will determine the terms of the plan for all eligible executives no later than 90 days from the start of Saba’s 2003 fiscal year. 
  
 Your performance will be reviewed annually and your compensation will be reviewed at the start of the company’s fiscal year. However,
since our fiscal year starts on June 1, only a few months after your start date, your compensation will not be reviewed until June, 2003. 
  
 In addition, you will be granted an option to purchase 2,000,000 shares of Saba Common Stock at the market price in effect on the date the Board of Directors approves the grant plus an option to purchase 400,000 shares of
Saba at $10 per share. These options will have a six year term and vest over the course of four years, with the first 25% of the options vesting on the one year anniversary of your first day of employment and the remaining options vesting in 12
quarterly installments commencing on the end of the 5th quarter following the grant date. Provisions will
be included in the Stock Option Agreements that will permit (i) assignment by gift of all or a portion of the non-qualified options to “family members” (as defined in Paragraph A. 5 of the General Instructions to Form S-8 under the
Securities Act of 1933) and (ii) the exercise by you (or your heirs or representatives in the event of your subsequent death or disability), during the 12 month period following the termination or expiration of the period of your employment with
Saba, of shares that have vested under the options prior to such termination or expiration. The details about Saba’s Stock Incentive Plan and your Stock Option Agreements will be sent separately. We will work with you and your counsel to ensure
that your Stock Option Agreements accomplish the objectives set forth in this letter. In the event of any conflict between this letter and the terms of the Stock Option Agreements entered into between you and Saba, the terms of the Stock Option
Agreements shall prevail. 
  
 Your initial options to purchase 2,400,000 shares of Saba Common Stock will include a
“double trigger” provision that is intended to offer some special consideration in the following circumstance: In the event there is a change of control in the company as a result of a merger or acquisition AND any one of the following
events (“Termination Events”) takes place as a result of the acquisition, then 100% of your unvested stock options in the Company will become vested immediately: 
  

	 	•
	 
	termination of your employment except for Cause (as defined below) 
 

  

	 	•
	 
	constructive termination by unreasonably reducing your responsibilities 
 

  

	 	•
	 
	any reduction in the total of your base salary and bonus plan 
 

  

	 	•
	 
	any requirement that you move more than 40 miles from you current residence 
 

  
 For purposes of this letter, the term “Cause” shall mean (i) the willful and continued failure by you to substantially perform your duties as President and Chief
Executive Officer of Saba or, with respect to a successor corporation, in a substantially similar capacity relative to the business of Saba, which failure has a material adverse effect on Saba, other than any such failure resulting from your
incapacity due to physical or mental illness; (ii) the willful engaging by you in gross misconduct which has a material adverse effect on Saba; (iii) the willful breach by you of the Proprietary Information Agreement, which breach has a material
adverse effect on Saba, (iv) your refusal or failure to act in accordance with any lawful, reasonable direction of the Board of Directors of Saba (or its successor) and such refusal or failure has a material adverse effect on Saba, or (v) your
conviction of a felony which conviction has a material adverse effect on Saba or on your ability to serve as an employee of Saba in your then-current capacity. For purposes of this paragraph, no act, or failure to act, on your part shall be
considered willful unless done, or omitted to be done, by you not in good faith and without reasonable belief that your action or omission was in the best interests of Saba. Notwithstanding the foregoing, Saba shall not have “Cause” to
terminate your employment unless and until (1) in the case of clauses (i), (ii), (iii) and (iv) above, Saba shall have given you written notice of the applicable defective conduct and you shall not have cured or ceased such conduct within 10 days
after your receipt of such notice, and (2) the finding of Cause is confirmed in writing by independent counsel from a law firm of national reputation that does not regularly represent Saba (or its successor); provided, that if Saba (or its
successor) is not able, after diligent, good faith efforts, to reasonably retain a law firm for such purpose, the finding of Cause shall be resolved by arbitration in accordance with the then applicable rules of the American Arbitration Association.
Any court having jurisdiction thereof may enter judgment on the award rendered by the arbitrator(s). The location of the arbitration shall be San Francisco, California. Unless the parties mutually agree otherwise, the arbitrator shall be selected
from a panel provided by the American Arbitration Association. The parties shall share equally the costs of the arbitration. Each party shall pay for its own costs and attorneys’ fees, if any. However, if any party prevails on a statutory claim
that affords the prevailing party attorneys’ fees, the arbitrator may award reasonable attorneys’ fees and costs to the prevailing party. In the event that Saba (or its successor) has commenced, or has provided to you written notice of its
intent to commence, arbitration hereunder prior the expiration of the one-year post-acquisition period, all amounts maintained in escrow shall be held pending final resolution of a determination of the existence or absence of Cause.

  
 In the event that the company is acquired and none of the Termination Events have occurred the following
provisions will apply: 
  

	 	•
	 
	20% of your unvested options as of the closing date of the acquisition will vest immediately 
 

  

	 	•
	 
	an additional 30% of your unvested options at the time of the acquisition will also vest immediately, these options will be automatically exercised on a
net-exercise basis pursuant to a non-qualified deferred compensation plan entered into between you and Saba or the surviving entity in the acquisition, also pursuant to such plan, the aggregate proceeds of the option exercise will be deposited in an
escrow account to be established by Saba or such surviving entity, and, after one year of the closing date of acquisition: 
 

  

	 	—
	 
	if you have continued to work full time for the acquiring company, the proceeds maintained in the escrow account, plus any interest or other earnings accrued
thereon, will be distributed to you; or 
 

  

	 	—
	 
	if you have not continued to work full time for the acquiring company, the balance of the escrow account will be forfeited; provided that in the event of your
death or that you are unable during the remainder of the one-year post acquisition period to carry out the responsibilities and functions of the position held by you by reason of any medically determinable physical or mental impairment, the entire
balance of the escrow account will be distributed to you, your heirs or designated beneficiaries, as applicable. 
 

  
 Such escrow account shall be subject to the claims of Saba’s creditors. Saba and its advisors will work with you and your counsel in order to structure the foregoing arrangements so that you do
not recognize taxable income until such time as the proceeds in the escrow account are actually distributed to you. If, notwithstanding these efforts, you are required to recognize taxable income upon the initial
 

 
exercise of these options, the applicable taxes will be deducted from the proceeds of exercise and remitted by Saba or the acquiring entity to the applicable tax authorities. In the event that
(i) all or any portion of the proceeds maintained in escrow are forfeited by you and (ii) proceeds from the option exercise that would have otherwise been maintained in escrow are remitted to the applicable taxing authorities, you agree to pay to
Saba or the acquiring entity an amount equal to any tax refund or any reduced tax obligation that may result from any tax credit, deduction, off-set or otherwise that you may be entitled by virtue of such forfeiture or tax payment; provided, that in
no event shall you have any obligation to pay amounts in excess of the amount of option proceeds remitted to the applicable taxing authorities. 
  

	 	•
	 
	After one year of the date of acquisition, if you have continued to work full time for the acquiring company, 50% of your then unvested options (at that time)
will immediately vest. The remainder of your options will continue to vest on their original schedule; provided, in the event of a Termination Event, the remaining options will vest immediately. 
 

  
 During the one year of employment post acquisition, as described above, if any of the Termination Events takes place, you will immediately
be paid the proceeds maintained in the escrow account, plus any interest or other earnings accrued thereon, and the entire balance of your unvested options will vest immediately. 
  
 You are also entitled to receive our standard employee benefits package, the details of which will be sent to you separately. Please be aware that these benefits are
subject to change. 
  
 We believe that each employee’s contribution to Saba is valuable. Much of what you learn
and create at Saba will be considered confidential and proprietary. Given this fact, we require that you sign Saba’s Employee Proprietary Information and Inventions Agreement prior to your first day of employment. In addition, please be
prepared to show verification of eligibility to work in the United States on or before your first day of employment. As a senior executive of Saba, you also will be provided with our standard Indemnification Agreement. 
  
 Please recognize that your employment with Saba is for an unspecified duration and is at-will. This means that either you or Saba has the
right to end your employment at any time, with or without cause and with or without notice. 
  
 Your first day of
employment will be March 26, 2002. This letter and any attachments constitute the entire employment agreement and understanding between you and Saba, and supersede all prior verbal communications between us. This agreement may only be modified in a
written document signed by you and an officer designated by the Board of Directors. Please acknowledge your acceptance of this offer by signing and returning the enclosed copy of this offer letter and the Employee Proprietary Information and
Inventions Agreement and Indemnification Agreement by March 26, 2002. 
  
 Geno, the Board is unanimous and
enthusiastic in the extension of this offer and we all look forward to working with you and building the company together. Saba’s future success is dependent on our hiring and retaining the highest quality and caliber of people like yourself.
Speaking for the executive team, the Board and myself, I am excited about your joining Saba and personally look forward to working with you. 
  
 With sincere regards, 
  
  
  
 Bobby Yazdani

 Founder and Chairman 
 Saba Software Inc. 

  
 Acceptance: 
  
 I accept the terms of my employment with Saba as President and Chief Executive Officer as set forth herein. I understand that this offer letter does not constitute a contract of employment for any
specified period of time, and that my employment relationship may be terminated by either party. 
  
  
  
  
 
Signature 
  
  

 
  
 
DatePrepared by R.R. Donnelley Financial -- Severance Agreement dated April 1, 2002

 EXHIBIT 10.11 
  
 SEVERANCE AGREEMENT 
  
 This Severance Agreement (“Agreement”), entered
into effective April 1, 2002 (the “Effective Date”), is between Saba Software, Inc., a Delaware corporation (the “Company”), and Bobby Yazdani (“Executive”) (collectively, “the parties”). 

 
 RECITALS 
  
 WHEREAS, Executive is the founder of the Company and has been the Chairman of the Board of the Company since its inception; 
  
 WHEREAS, the Board of Directors of the Company (the “Board”) recognizes that the Executive’s contributions to the Company have been instrumental to the success of the Company;

  
 WHEREAS, the Board has determined that in consideration of Executive’s continued employment with the
Company appropriate severance should be made available to Executive upon the termination, under certain circumstances, of Executive’s employment with the Company in accordance with the terms and conditions set forth in this Agreement.

  
 NOW, THEREFORE, the parties agree as follows: 
  

AGREEMENT 
  
 Severance and Post-Termination Activities.

  
 (a)    Severance. In the event that Executive’s employment with the Company
is terminated by the Company for any reason other than Cause (as defined below), in addition to all other benefits described in this Agreement, the Company shall pay to Executive, or to Executive’s beneficiaries or estate, as appropriate, an
amount equal to twenty-four (24) months of Executive’s then-current base salary, less (i) all applicable state and federal tax withholdings, and (ii) in the case of a termination as a result of Executive’s disability, any disability
payment otherwise payable by or pursuant to plans provided by the Company and actually paid to Executive. Such amounts shall be payable either as a lump-sum or in the form of salary continuation, whichever the Company shall determine in its sole
discretion, and shall be subject to the execution by Executive of a release of claims reasonably acceptable to the Company. 
  
 (b)    Continuation of Benefit Plans. In the event that Executive’s employment is terminated by the Company for any reason other than Cause, in addition to all other benefits described in this
Agreement, the Company shall maintain in full force and effect, for the continued benefit of Executive during the twenty four (24) month period commencing on the date that Executive’s employment with the Company shall terminate, all employee
benefit plans and programs (other than plans or programs relating to the Company’s equity securities) in which Executive was entitled to participate immediately prior to the date of termination of employment, including, without limitation, life
insurance on the life of Executive with coverage no less than the coverage provided to Executive by the Company as of the date of this Agreement; provided, that Executive’s continued participation is possible under the general terms and
provisions of such plans or programs. In the event that Executive’s participation in any such plan or program is barred, Executive shall be entitled to receive an amount equal to the annual contributions, payments, credits or allocations made
by Company to him, to his account or on his behalf under such plans and programs from which his continued participation is barred. 
  
 (c)    Activities. Executive acknowledges that the pursuit of the activities forbidden by this subsection would necessarily involve the use or disclosure of proprietary information of the Company
in breach of the Employee Proprietary Information and Inventions Agreement entered into between the Company and Executive (the “Proprietary Information Agreement”) but that proof of such a breach would be extremely difficult. To forestall
such disclosure, use, and breach, and in consideration of the consideration set forth in this Agreement, Executive
 

 
agrees that for a period of two (2) years after termination of Executive’s employment, Executive shall not, directly or indirectly on Executive’s behalf or as an officer, director,
consultant, partner, owner, stockholder or employee of any partnership, corporation or other entity: (a) solicit for employment, employ or otherwise seek to retain or retain the services of any employee, officer, director or consultant of the
Company, or solicit or otherwise induce any person to terminate his or her employment or other relationship with the Company; or (b) engage in any activity, in those states within the United States and those countries outside the United States in
which the Company or any of its subsidiaries then conducts any business, where such activity is similar to and competitive with the activities carried on by the Company or any of its subsidiaries. Executive acknowledges that the nature of the
Company’s activities is such that competitive activities could be conducted effectively regardless of the geographic distance between the Company’s place of business and the place of any competitive business. 
  
 (d)    Definition of Cause. The Company shall have “Cause” to terminate the Executive’s
employment with the Company upon (i) the willful and continued failure by Executive to substantially perform his duties hereunder, other than any such failure resulting from Executive’s incapacity due to physical or mental illness;
(ii) the willful engaging by Executive in gross misconduct materially injurious to the Company; (iii) the willful violation by Executive of the Proprietary Information Agreement, (iv) Executive’s refusal of failure to act in accordance
with any lawful, reasonable direction of the Chief Executive Officer or Board and such refusal or failure has a material adverse effect on the Company’s business, or (v) Executive’s conviction of a felony which such conviction has a
material adverse effect on the Company or on Executive’s ability to serve as an employee of the Company in Executive’s then-current capacity. For purposes of this Section 1(d), no act, or failure to act, on Executive’s part shall be
considered willful unless done, or omitted to be done, by him not in good faith and without reasonable belief that his action or omission was in the best interests of the Company. Notwithstanding the foregoing, Executive shall not be deemed to have
been terminated for Cause unless and until there shall have been delivered to Executive a copy of a resolution, duly adopted by the affirmative vote of not less than two-thirds (2/3) of the entire membership of the Board at a meeting of the Board
called and held for such purpose (after reasonable notice to Executive and an opportunity for him, together with his counsel, to be heard before the Board), finding that, in the good faith opinion of the Board, the conduct of Executive was included
in the definition of Cause as provided herein, and specifying the particulars thereof in reasonable detail. 
  
 (e)    Entire Agreement. This Agreement is intended to be the final, complete, and exclusive statement of the terms of Executive’s employment by the Company. This Agreement supersedes all other prior
and contemporaneous agreements and statements pertaining in any manner to the subject matter hereof and it may not be contradicted by evidence of any prior or contemporaneous statements or agreements. To the extent that the practices, policies, or
procedures of Company, now or in the future, apply to Executive and are inconsistent with the terms of this Agreement, the provisions of this Agreement shall control. 
  
 (f)    Amendments, Waivers. This Agreement may not be modified, amended, or terminated except by an instrument in writing, signed by Executive
and by a duly authorized representative of Company other than Executive. No failure to exercise and no delay in exercising any right, remedy, or power under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise
of any right, remedy, or power under this Agreement preclude any other or further exercise thereof, or the exercise of any other right, remedy, or power provided herein or by law or in equity. 
  

(g)    Assignment; Successors and Assigns. Executive agrees that he will not assign, sell, transfer, delegate or otherwise dispose of,
whether voluntarily or involuntarily, or by operation of law, any rights or obligations under this Agreement, nor shall Executive’s rights be subject to encumbrance or the claims of creditors. Any purported assignment, transfer, or delegation
shall be null and void. Nothing in this Agreement shall prevent the consolidation of the Company with, or its merger into, any other corporation, or the sale by the Company of all or substantially all of its properties or assets, or the assignment
by the Company of this Agreement and the performance of its obligations hereunder to any successor in interest. Notwithstanding and subject to the foregoing, this Agreement shall be binding upon and shall inure to the benefit of the parties and
their respective heirs, legal representatives, successors, and permitted assigns, and shall not benefit any person or entity other than those enumerated above. 

  
 (h)    Severability; Enforcement. If any provision of
this Agreement, or the application thereof to any person, place, or circumstance, shall be held by a court of competent jurisdiction to be invalid, unenforceable, or void, the remainder of this Agreement and such provisions as applied to other
persons, places, and circumstances shall remain in full force and effect. 
  
 (i)    Governing
Law. The validity, interpretation, enforceability, and performance of this Agreement shall be governed by and construed in accordance with the law of the State of California. 
  
 (j)    Date of Agreement. The parties have duly executed this Agreement as of the date first written above. 
  
 EXECUTIVE ACKNOWLEDGES AND AGREES THAT NOTHING IN THIS AGREEMENT SHALL CONFER UPON EXECUTIVE ANY RIGHT WITH RESPECT TO CONTINUATION OF
EMPLOYMENT BY THE COMPANY, NOR SHALL IT INTERFERE IN ANY WAY WITH EXECUTIVE’S RIGHT OR THE COMPANY’S RIGHT TO TERMINATE THE EXECUTIVE’S EMPLOYMENT AT ANY TIME, WITH OR WITHOUT CAUSE. 
  
 
	 
	 
Bobby Yazdani
  
  
 
	 SABA SOFTWARE, INC.
  
 
	 By:
 	 	      
 

	  	 	 Geno Tolari, Chief Executive Officer

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