Document:

Employment Agreement between Rainmaker Systems, Inc. and Edwin Okamura

 Exhibit 10.2 
  
 EXECUTIVE EMPLOYMENT AGREEMENT 
  

					
	 DATE:
	  	 April 1, 2005 (the “Effective Date”)

		
	 	  	 PARTIES:

	 	  	 Rainmaker Systems, Inc.

	 	  	 1800 Green Hills Road

	 	  	 Scotts Valley, CA 95066

	 	  	 Attention: Board of Directors

	 	  	 Telephone:     (831) 430-3800

	 	  	 Facsimile:       (831) 439-9192

	 	  	 (the “Company”)

		
	 	  	 and

		
	 	  	 Edwin Okamura

	 	  	 110 Edgewater Drive

	 	  	 Rio Vista, CA 94571

	 	  	 Telephone:     512.464.8429

	 	  	 Facsimile:       866.300.0567

	 	  	 (“Executive”)

  
 RECITALS: 
  
 A. The Company desires to continue to employ Executive in the role set forth
herein below and Executive desires to remain employed by the Company. 
  
 AGREEMENT: 
  
 In consideration of the foregoing
recitals (which are incorporated herein), and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties agree as follows: 
  
 1. Employment; Duties. The Company shall employ Executive as Vice President of Marketing, and Executive
accepts such employment under the terms and conditions set forth in this Agreement. Executive’s duties shall be consistent with those of a Vice President of Marketing, as defined from time to time by the Chief Executive Officer of the Company.

 2. Full-Time Best Efforts. 
  
 (a) Time and Effort. Executive shall devote Executive’s
full professional time and attention to the performance of Executive’s obligations under this Agreement, and shall at all times faithfully, industriously, and to the best of Executive’s ability, experience, and talent perform all of
Executive’s obligations hereunder. So long as this Agreement is in effect, Executive shall not be employed or engaged by any other person or firm other than the Company unless otherwise authorized in writing by the Chief Executive Officer of
the Company. Notwithstanding the foregoing, Executive, upon receiving written permission from the Company’s CEO of the Company, shall be permitted to serve on the boards of non-competitive companies provided that these endeavors do not impede
Executive’s job performance, and Executive shall be entitled to retain all compensation paid to him in connection with such endeavors. 
  
 (b) Performance Standards; Underperformance. Within 180 days after the Effective Date, the Chief Executive Officer of the Company, shall
establish performance expectations and standards, which shall (i) be reasonably acceptable to Executive, (ii) may change from time to time as the needs of the Company change, and (iii) shall serve as a basis to evaluate Executive’s performance
from time to time. Within six months following the Effective Date, and at least annually thereafter, the CEO and the Executive shall meet in order for the CEO to provide a formal evaluation of Executive’s performance.
“Underperformance” shall mean Executive’s failure to meet some or all of the then-current performance expectations and standards, and can be the basis for a change in job description, salary, and benefits, or termination of
Executive’s employment under this Agreement if such Underperformance is not cured within 60 days’ following notice of the elements of such Underperformance has been given to Executive by the Company. 
  
 3. Term. The term of this Agreement shall begin
on the Effective Date and shall end on the second anniversary of the Effective Date (the “Initial Term”) unless terminated prior to that date as provided herein. Unless 60 days’ advance written notice is given by one party to the
other regarding termination of Executive’s employment hereunder, at the expiration of the Initial Term, and any renewal term, the term of this Agreement shall automatically extend for an additional one year. 
  
 4. Compensation and Benefits. The Company shall
pay compensation to Executive consisting of an annual base salary, any applicable bonuses and other benefits as described in this Agreement. In addition to the financial compensation and benefits set forth below, Executive shall be reimbursed for
any approved business-related expenses and shall receive vacation, sick leave, and other time off as is customary and usual for executives of Executive’s status in the Company. 
  
 (a) Base Salary; Unpaid Wages. Executive’s annual base salary as of the Effective Date is $100,000.
Executive’s base salary shall be reviewed annually in conjunction with Executive’s annual performance review and may be adjusted as appropriate in light of Executive’s performance. Executive’s annual base salary shall be paid in
accordance with the standard payroll practices of the Company. 
  

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 (b) Benefits. Executive shall be entitled to participate in such life insurance,
disability, medical, dental, stock options, stock grants, and retirement plans and other programs as may be made generally available from time to time by the Company for the benefit of executives of Executive’s level or its employees generally
(the “Benefits”). 
  
 (c)
Bonuses/Commissions. Executive shall be eligible to receive quarterly bonuses in accordance with the Company’s 2005 Executive Bonus Plan (Exhibit A) and consistent with the criteria set forth in Section 2(b). 
  
 (d) Expense Reimbursement. The Company shall reimburse
Executive for all reasonable and necessary out-of-pocket expenses properly incurred in the performance of this Agreement, but only to the extent that Executive submits to the Company an itemized account of such expenses. Reimbursement for such
expenses shall occur promptly after their approval and receipt by the Company of such documentary evidence of such expenses as the Company may reasonably require. 
  
 5. Stock Option Grant. Executive has received options to purchase 100,000 shares of Rainmaker’s common
stock (the “Options”) pursuant to Rainmaker’s 2003 Stock Incentive Plan. The Options shall vest in accordance with Rainmaker’s standard vesting schedule. 
  
 6. Documents and Materials. Except in the performance of Executive’s duties in the ordinary
course of business for which Executive is employed by the Company, Executive shall not make or cause to be made any copies, or other reproductions or recordings or any abstracts or summaries of any reports, studies, memoranda, correspondence,
manuals, records, plans or other written, printed, computerized or otherwise recorded materials of any kind belonging to or in the possession of the Company or any of its Affiliates (defined below). Immediately upon the termination of
Executive’s employment with the Company or at any time upon the request of the Company, Executive shall surrender all such material to the Company and execute a document acknowledging that Executive has complied with the provisions of this
Agreement. 
  
 7. Trade Secrets and Other Confidential
Information. Executive shall not at any time, whether during or after the term of this Agreement, use for Executive’s own benefit or purposes or for the benefit or purposes of any other person or entity, or disclose
(except in the performance of Executive’s duties in the ordinary course of business for which Executive is employed by the Company) in any manner to any person or entity, any trade secrets, information, data, know how or knowledge (including
that relating to service techniques, purchasing and sales organization and methods, client lists, market development and expansion plans, personnel training and development programs and client and supplier relationships) or any other Discoveries
(defined below) belonging to or relating to the affairs of the Company or any of its 

  

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Affiliates or to the clients of the Company or any of its Affiliates; provided, however, that this Section shall not apply to any trade secret, information,
data, know how, knowledge, or Discovery that is or becomes generally available to the public through no fault or action of Executive. 
  
 8. Customers and Vendors. Executive acknowledges that the lists of the Company’s and its Affiliates’ customers and vendors
as they may exist from time to time constitute a valuable and unique asset of the Company, and Executive shall not, during or after the term of Executive’s employment, disclose such lists or any part thereof to any person or entity for any
reason whatsoever, nor shall Executive use such customer or vendor lists for Executive’s own benefit or purposes or for the benefit or purposes of any business with whom Executive may become associated. 
  
 9. Discoveries. Any and all inventions,
discoveries, improvements, designs, methods, systems, developments, know how, ideas, suggestions, devices, trade secrets and processes (collectively, “Discoveries”), whether patentable or not, which are discovered, disclosed to or
otherwise obtained by Executive during Executive’s employment with the Company are confidential, proprietary information and are the sole and absolute property of the Company. Executive shall disclose promptly to the Company all Discoveries and
shall assist the Company in making any application in the United States and in foreign jurisdictions for patents of any kind with respect thereto. 
  
 10. Works for Hire. All works and writings of a professional nature that are produced by Executive during Executive’s
employment with the Company that relate to the Company’s business or that are produced during regular working hours with the Company or with the use of the Company’s resources constitute works made for hire and are the sole and absolute
property of the Company. Executive grants the Company the exclusive right to copyright all such works made for hire in the United States and in foreign jurisdictions. Whenever requested to do so by the Company, Executive shall execute any and all
applications, assignments, or other instruments that the Company may deem necessary to protect the Company’s interest therein for the works made for hire. 
  

11. Non-Competition. 
  
 (a) Corporate Relationship. Executive acknowledges (i) that Executive’s employment as a member of the Company’s executive
management team creates a relationship of confidence and trust between Executive and the Company with respect to confidential and proprietary information applicable to the business of the Company, its Affiliates and its clients, and (ii) the highly
competitive nature of the business of the Company. Accordingly, the Company and Executive agree that the restrictions contained in this Section are reasonable and necessary for the protection of the immediate interests of the Company and that any
violation of these restrictions would cause substantial injury to the Company. 
  
 (b) Competitive Business Defined. The term “Competitive Business” means any business which is similar to or competitive with the business of the Company with respect to which Executive has had
direct responsibility and which is located in the same regions or markets as the business of the Company. 
  

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 (c) Existing Client Defined. The term “Existing Client” means a client for whom
the Company or any of its Affiliates is performing services or marketing products as of the date of the termination of Executive’s employment with the Company or for whom the Company or any of its Affiliates performed services or marketed
products within the two-year period immediately preceding the termination of Executive’s employment with the Company. 
  
 (d) Noncompetition. During Executive’s employment with the Company and for the defined duration set forth below following the
termination of Executive’s employment with the Company, Executive shall not: 
  
 i. own, manage, operate, control, have any financial interest in, or lend Executive’s name to any person or entity engaged in, a
Competitive Business or cause others to or assist others in engaging in any Competitive Business in the foregoing manner; 
  
 ii. employ or otherwise engage, or attempt to employ or otherwise engage, in or on behalf of Executive or any Competitive Business, any
person who is employed or engaged as an employee, consultant, agent or representative of the Company or any of its Affiliates as of the date of Executive’s termination or at any time during the one-year period following such termination; or

  
 iii. solicit directly or indirectly on behalf
of Executive or any Competitive Business, the customer business or account of any Existing Client. 
  
 If termination is by the Company without Cause the foregoing covenant shall remain in effect for four months unless there has been a Change of Control (defined below) and Executive’s employment is terminated
without Cause during the 120 day period following the Change of Control, or otherwise ends, the foregoing covenant shall remain in effect for six months. 
  
 (e) Non-Competition Exception. Following the termination of Executive’s employment, Executive’s obligation to not compete with the
Company as set forth above is solely dependent upon the Company’s paying to Executive all amounts due and payable to Executive under this Agreement (the “Payments Due”) within ten business days following the due dates therefore. The
failure to make the Payments Due payments within such cure period shall serve as a waiver of Executive’s obligations under the covenant not to compete; provided, however, that such waiver shall not waive the Company’s obligation to make
the Payments Due, and provided further that if the Payments Due are resumed within 30 days after the expiration of the cure period provided for herein, Executive’s obligation not to compete as provided herein shall resume until the expiration
of the applicable period; and provided further, 

  

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that if Executive has commenced employment in a Competitive Business prior to the Company making the Payments Due, Executive shall not be obligated to resign
such employment. 
  
 (f) Specific Enforcement.
Subject to Section 11 (e), the foregoing covenants shall be specifically enforceable; provided, however, that the covenants shall not be construed to prohibit ownership of not more than 5% of the equity of any publicly held entity engaged in
direct competition with the Company, so long as the Executive is not otherwise engaged with such entity in any of the other activities specified in the foregoing clauses. 
  
 (g) Severability. If any court shall determine that the duration, geographic limitations, subject or scope of
any restriction contained in this Section is unenforceable, it is the intention of the parties that this Section 11 shall not thereby be terminated but shall be deemed amended to the extent required to make it valid and enforceable, such amendment
to apply only with respect to the operation of this Section in the jurisdiction of the court that has made the adjudication. 
  
 (h) Employability. Executive acknowledges (i) that Executive has sufficient abilities and talents to be able to obtain, upon
the termination of Executive’s employment, comparable employment from another business while fully honoring and complying with the above covenants concerning confidential information and contacts with the Company’s or any of its
Affiliates’ customers or employees, and (ii) the importance to the Company and its Affiliates of the above covenants. Accordingly, for the duration of the applicable period of Executive’s covenant not to compete as set forth above and upon
the Company’s reasonable request of Executive, Executive shall advise the Company of the identity of Executive’s new employer and shall provide a general description, in reasonable detail, of Executive’s new duties and
responsibilities sufficient to inform the Company of its need to request a court order to enforce the above covenants. 
  
 (i) Remedies. The parties acknowledge that the damages sustained by the Company or its Affiliates as a result of a breach of
the agreements contained herein will subject the Company or its Affiliates to immediate, irreparable harm and damage, the amount of which, although substantial, cannot be reasonably ascertained, and that recovery of damages at law will not be an
adequate remedy. Therefore, the Company and its Affiliates, in addition to any other remedies they may have under this Agreement or at law, shall be entitled to injunctive and other equitable relief to prevent or curtail any breach of any provision
of this Agreement subject to Section 11(e). If an action is instituted to enforce this Agreement or any of the terms and conditions hereof, including suit for preliminary injunction, the prevailing party shall be entitled to costs and reasonable
attorneys’ fees. The Company acknowledges that (A) the Company shall not be entitled to an injunction or the right to enforce the covenant not to compete or seek damages as a result of Executive’s competitive activities if the Company has
not made the Payments Due as provided in Section 11(e), and (B) the requirement to pay Executive the Payments Due is part, but not the sole, consideration being accepted by Executive’s agreement to the covenant not to compete contained herein.

  

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 12. Disability. The Company may terminate this Agreement upon notice to
Executive if Executive is physically or mentally incapacitated and unable to perform Executive’s duties under this Agreement for a period of 90 out of any 180 days. If a question arises as to the incapacity of Executive, then the Company shall
promptly employ one physician who is a member of the American Medical Association and who is reasonably acceptable to Executive to examine Executive and determine if Executive’s physical or mental condition is such as to render Executive unable
to perform Executive’s duties under this Agreement. The decision of the physician shall be certified in writing to the Company, shall be sent by the Company to Executive or Executive’s representative and shall be conclusive for purposes of
this Agreement. Any compensation payments payable to Executive hereunder shall be reduced by the amount of any disability payments Executive receives as a result of disability policies on which the Company has paid the premiums. 
  
 13. Death During Employment. This Agreement shall
terminate upon Executive’s death, and the Company shall pay a death benefit equal to Executive’s base monthly salary for the balance of the month of Executive’s death and for three months following Executive’s death. Such amounts
shall be paid to the beneficiary named in writing by Executive, or if none, to Executive’s surviving spouse, or if none, to the executors and administrators of Executive’s estate and shall be paid within 60 days after Executive’s
death. 
  
 14. Termination for Other Than for Disability or
Death. 
  
 (a) By the Company. The Company
may terminate Executive’s employment under this Agreement prior to the expiration of the Initial Term or any renewal term as follows: 
  
 i. without Cause, upon 30 days’ prior notice to Executive; or 
  
 ii. immediately upon the showing of Cause. For purposes of this Agreement, “Cause” shall mean, but
not be limited to (1) gross misconduct, gross negligence, or gross omissions by Executive, which is not cured to the Company’s satisfaction within 30 days after notice of such gross misconduct, gross negligence or gross omissions is given to
Executive; (2) an act or acts of dishonesty by Executive involving the Company; (3) conduct of Executive which is materially injurious to the Company, monetarily or otherwise; (4) a material breach of Sections 7 through 11 of this Agreement; (5) any
other material breach by Executive of this Agreement which breach has not been cured by Executive within 30 days after notice of such breach is given to such Executive by the Company; (6) Underperformance by Executive if such Underperformance is not
cured as provided in Section 2(b), or (7) Executive is convicted of, or enters a plea of nolo contendere with respect to, any offense that, if committed in the State of Texas, would have constituted a felony under the laws of the State of
Texas or the United States. 
  

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 (b) By Executive. Executive may terminate Executive’s employment under this Agreement
upon 30 days’ notice to the Company. An Executive’s termination shall be deemed for “Good Reason” if such termination is due to: (i) a change materially adverse to Executive in the nature of scope of Executive’s position,
status, responsibilities or duties with the Company as they existed as of the Effective Date (other than for uncured Underperformance), (ii) a material reduction by the Company in Executive’s base salary as in effect on the Effective Date or as
the same may be increased from time to time, other than pursuant to an across the board reduction of an equal or greater percentage affecting all of the Company’s executive officers or due to uncured Underperformance; (iii) a change, exceeding
a thirty-mile radius, in Executive’s principal work location established on the Effective Date, except for required travel on the Company’s business to an extent substantially consistent with business travel obligations of the other
officers of the Company; (iv) failure of the Company to pay Executive amounts required to be paid under this Agreement if not cured within ten business days after notice of such failure is given to the Company by Executive; or (v) a material breach
by the Company of any other material provision of this Agreement that has not been cured by the Company within 30 days after notice of such breach is given to the Company by Executive. 
  
 (c) Termination Obligations. Upon termination of Executive’s employment with the Company, the Company
shall have no further obligation to Executive except as provided under this Agreement; provided, however, that termination of Executive’s employment shall not affect Executive’s right to receive any compensation or applicable bonuses that
have accrued but have not been paid through the date of termination. Executive shall return to the Company any and all equipment including electronic equipment, keys, credit cards, and the like, owned by the Company and used by Executive.

  
 (d) Severance. Upon the termination of
Executive’s employment with the Company under this Section prior to the expiration of the Initial Term, the Company shall pay to Executive a severance benefit equal to that portion of Executive’s then current base salary as follows: (i) if
termination is by the Company without Cause the severance shall be four months salary unless there has been a Change of Control (defined below) and Executive’s employment is terminated without Cause during the 120 day period following the
Change of Control, in which case the severance shall be six months salary; (ii) if termination is by the Company for uncured Underperformance (even though such termination is for cause), the severance shall be one month salary; (iii) if the
termination is by the company for Cause (other than uncured Underperformance) Executive shall receive no severance benefit of any kind; (iv) if the termination is by Executive for Good Reason, the severance shall be four months salary; and (v) if
the termination is by Executive without Good Reason, Executive shall receive no severance benefit of any kind. In addition, in the event any severance payment is owing pursuant to the foregoing, as partial consideration for payment of such severance
amounts, Executive shall execute at the time of such termination and as a condition of receipt of the severance amounts, the Company’s standard Release Agreement. Executive shall not be entitled to receive any Benefits except that if the

  

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termination is by the Company without Cause within 120 days following a Change of Control, the Company shall pay Executive’s COBRA payment while
Executive is receiving severance payments. Payments due to Executive under this Section shall be paid in cash or by check on the same dates on which Executive would otherwise have received payments of Executive’s annual base salary hereunder if
employment had continued; provided, however, that if termination of employment is by the Company without Cause and the Company is not able to make such payments in light of material financial hardships, such payments shall be made when the Company
is financially able to make them. 
  
 (e) Payments
upon Termination. Regardless of the reason for the termination of Executive’s employment, the Company shall pay to Executive all salary and expenses due to Executive through the effective date of termination less any amounts owed to the
Company by Executive; provided that any applicable severance payments shall be paid in accordance with the standard payroll practices of the Company over the period utilized to determine the applicable severance payment. 
  
 (f) Withholding Tax. The Company shall be entitled to withhold
from any compensatory payments that it makes to Executive under this Agreement or otherwise an amount sufficient to satisfy all Federal, state and local income and employment tax withholding and all other applicable withholding requirements with
respect to any and all compensation paid to Executive by the Company. 
  
 (g) Change of Control Defined. For purposes of this Agreement, “Change of Control” means: 
  
 i. When any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended)
becomes the “beneficial owner” (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; or 
  
 ii. Any
merger, consolidation or transfer of securities of the Company with or into another corporation, other than a merger, consolidation or transfer of securities in which the holders of more than 50% of the shares of capital stock of the Company
outstanding immediately prior to such transaction continue to hold (either by the voting securities remaining outstanding or by their being converted into voting securities of the surviving entity) more than 50% of the total voting power represented
by the voting securities of the Company, or such surviving entity, outstanding immediately after such transaction; or 
  
 iii. The sale, transfer, or disposal by other means of all or substantially all of the Company’s assets (or consummation of any
transaction having similar effect). 
  

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 15. Rights of Indemnity. Executive shall be entitled to the same rights of indemnification
as provided to all other executives, officers and directors of the Company pursuant to applicable law and the Company’s governing documents. 
  
 16. Arbitration. Except for (i) any claim for unemployment compensation or workers’ compensation, and (ii) any relief sought for breach
by Executive of Sections 6-11 of this Agreement, in which case a claim may be, but is not required to be, brought before any court in the State of Texas having jurisdiction over the matter, any controversy or claim arising out of or related to this
Agreement (as applicable, a “Dispute”) shall be resolved by binding arbitration in accordance with the then-effective rules of the American Arbitration Association (“AAA”) and limited discovery shall be permitted. Arbitration
shall be held at the location chosen by the party that has not initiated the arbitration, which location shall be limited to Texas or any other state in which the Company has an office or employees (as applicable, the “Arbitration
Location”). Upon notification by a party of such party’s intention to arbitrate a Dispute (the “Notice Date”), each party shall select one arbitrator, and the two arbitrators so chosen shall select one arbitrator. Each of the
arbitrators chosen shall be impartial and independent of the parties. If a party fails to select an arbitrator within twenty days after delivery of the Notice Date, or if the arbitrators chosen fail to select a third arbitrator within twenty days
after being chosen, then any party may in writing request the judge of the United States District Court closest to the Arbitration Location senior in term of service to appoint the arbitrator or arbitrators. The arbitration shall be conducted in
accordance with the National Rules for the Resolution of Employment Disputes of the AAA to the extent such rules do not conflict with the terms hereof; however there is no requirement that the arbitration proceed through or under the auspices of the
AAA. The decision of a majority of the arbitrators shall be reduced to writing and shall be binding on the parties. Judgment upon the award rendered by a majority of the arbitrators may be entered and execution had in any court of competent
jurisdiction or application may be made to such court for a judicial acceptance of the award and an order of enforcement. The charges and expenses of the arbitrators shall be allocated as determined by the arbitrators. 
  
 17. Survival. The covenants contained in this
Agreement shall survive any termination of Executive’s employment with the Company and any termination of this Agreement. The existence of any claim or cause of action of Executive against the Company, whether predicated on this Agreement or
otherwise, shall not constitute a defense to the enforcement by the Company of any of the covenants contained in this Agreement except as prescribed in Section 11 (e). 
  
 18. Severability. If the scope of any restriction contained in this Agreement is too broad to
permit enforcement of such restriction to its fullest extent, then such restriction shall be enforced to the maximum extent permitted by law, and Executive and the Company hereby consent and agree that the scope of such restriction may be judicially
modified in any proceeding brought to enforce such restriction. To the extent any provision of this Agreement shall be invalid or unenforceable, it shall be considered deleted from this Agreement and the remainder of this Agreement shall remain in
full force and effect. 
  

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 19. Notice. Any notices required or permitted to be given under this
Agreement shall be sufficient if in writing and delivered by personal delivery, air courier, or if mailed by registered or certified first-class mail, return receipt requested, to the residence of Executive as it appears in the corporate records for
notice to Executive, or to the principal office of the Company for notice to the Company. All notices delivered in accordance with this Section shall be deemed to have been received and shall be deemed effective if delivered in person or by air
courier, upon actual receipt by the intended recipient, or if mailed, upon the date of delivery or refusal to accept delivery as shown by the return receipt therefor. 
  
 20. Affiliate; Construction and Interpretation. An “Affiliate” means any person or entity that
directly or indirectly controls, is controlled by, or is under common control with another. Control shall mean beneficial ownership of 50.01% or more of the outstanding voting securities or other ownership interests. Unless the context of this
Agreement otherwise requires, (a) words of any gender include each other gender; (b) words using the singular or plural number also include the plural or singular number, respectively; (c) the terms “include,” “includes,”
“including” and derivative or similar words shall be construed to be followed by the phrase “without limitation”; (d) the word “or” is not exclusive; and (e) reference to any document (including this Agreement) and to
any law, rule, or regulation means such document, law, rule or regulation as amended from time to time. 
  
 21. No Waiver. No term or condition of this Agreement shall be deemed to have been waived, nor shall there be any estoppel to
enforce any provision of this Agreement, except by a statement in writing signed by the party against whom enforcement of the waiver or estoppel is sought. Any written waiver shall not be deemed a continuing waiver unless specifically stated, and
shall operate only as to the specific term or condition waived and shall not constitute a waiver of such term or condition for the future or as to any act other than that specifically waived. 
  
 22. Amendments. No amendment or modification of
this Agreement shall be deemed effective unless made in writing and signed by the parties hereto. 
  
 23. Assignment. The rights and obligations of the Company under this Agreement shall, without the prior written consent of
Executive, inure to the benefit of and be binding upon the successors and assigns of the Company. This is a personal service contract and may not be assigned by Executive except that rights of Executive to receive severance or benefits under
Sections 12, 13, or 14 shall be assignable through a testamentary disposition or by the laws of descent and distribution or the laws of guardianship, in the case of death or disability. 
  
 24. Governing Law. This Agreement is made under and shall be governed by and construed in
accordance with the internal laws of the State of Texas. By execution of this Agreement, each party submits to in personam jurisdiction of the courts of the State of Texas. 
  

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 25. Headings. The headings of sections in this Agreement are solely for
convenience of reference and shall not control the meaning or interpretation of any provision of this Agreement. 
  
 26. Counterparts and Facsimile Signatures. This Agreement may be executed in any number of counterparts, each of which shall
be deemed an original and all of which, taken together, shall constitute one agreement. Any counterpart may be delivered by any party by transmission of signature pages to the other parties at the addresses set forth herein, and delivery shall be
effective and complete upon completion of such transmission; manually signed copies of signature pages shall nonetheless be delivered promptly after any such facsimile delivery. 
  
 [The remainder of this page is intentionally blank.] 
  

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 27. Entire Agreement. This instrument contains the entire agreement of the
parties relating to the subject matter hereof and supersedes all prior and simultaneous agreements, communications, and understandings with respect to such subject matter, whether oral or written. 
  
 This Agreement is executed and delivered on the day and year first above
written. 
  

			
	Company:
	
	Rainmaker Systems
	
	 /s/    MICHAEL SILTON

	 By:
	 	 Michael Silton

	 Its:
	 	 CEO

	
	 /s/    EDWIN OKAMURA

	Executive:
	Edwin Okamura

  
  

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 EXHIBIT A 
  

Rainmaker Systems, Inc. 
 2005
EXECUTIVE BONUS PLAN 
  
 Executive Name: Edwin Okamura

  
 Total Target Annual Bonus: $ 31,250

  
 (A) Quarterly Bonus . Employee and Company desire to create a
performance-based bonus compensation arrangement. The Company agrees that Employee shall be eligible for a quarterly bonus (the “Bonus”) determined in accordance with the formula established annually by the Board of Directors. The formula
for 2005 is set forth below in Sections A(i), (ii), (iii) and (iiii). If the Company meets its revenue and net income goals for 2005, then Employee will be paid the total Bonus amount (the “Target Annual Bonus Amount”). The Target Annual
Bonus amount will be established annually by the CEO. It is the intent of the Company and Employee to use this performance-based bonus compensation arrangement to tie a potentially large portion of Employee’s total compensation to the financial
performance of the Company. 
  
 (i) Revenue Target . Fifty percent (50%) of
the Bonus amount to be paid to Employee in 2005 shall be based upon whether the Company meets its quarterly revenue goals, as determined by the Company and approved by the Company’s board of directors (the “Revenue Bonus”). If the
Company meets but does not exceed each of its quarterly revenue goals, then the total annual Revenue Bonus amount available to Employee shall be $15,625, paid quarterly; however, this total annual Revenue Bonus amount may be lesser or greater in
accordance with the terms of this Agreement. In the event that the Company meets its quarterly revenue goal, then Employee shall be paid one hundred percent (100%) of the quarterly Revenue Bonus amount. This calculation would result in Employee
receiving a quarterly Revenue Bonus payment for such quarter equal to $3,906.25 (the “Target Quarterly Revenue Bonus Amount”). 
  
 (a) If the Company Exceeds Revenue Target . If the Company exceeds its revenue goal for a given quarter, then Employee shall be paid a Revenue Bonus for that
quarter calculated on a percentage basis equal to the percentage by which the Company exceeds its quarterly revenue goal. For example, if the Company exceeds its quarterly revenue goal by twenty percent (20%), then the Revenue Bonus amount due
Employee for that quarter would be equal to one hundred twenty percent (120%) of the Target Quarterly Revenue Bonus Amount. This calculation would result in Employee receiving a quarterly Revenue Bonus payment for such quarter equal to $4,687.50 (
i.e. , $3,906.25 x 120% = $4,687.50). There is no limit on the quarterly Revenue Bonus amount that Employee may earn in a given quarter. 
  
 (b) If the Company Does Not Meet its Revenue Target . If the Company does not meet its revenue goal for a given quarter, then Employee shall be paid a Revenue
Bonus for that quarter calculated as follows: 
  
 (1) In order for Employee to be
paid any portion of the Revenue Bonus applicable to that quarter, the 

  

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Company must achieve at least eighty percent (80%) of its revenue goal for that quarter. If the Company fails to achieve quarterly revenues equal to at least
eighty percent (80%) of the revenue goal for that quarter, then Employee shall not be paid any Revenue Bonus for that quarter. 
  
 (2) If the Company achieves quarterly revenues equal to eighty percent (80%) of that quarter’s revenue goal, then Employee shall be paid a quarterly Revenue Bonus
for that quarter equal to fifty percent (50%) of the Target Quarterly Revenue Bonus Amount. This calculation would result in Employee receiving a quarterly Revenue Bonus payment for such quarter equal to $1,953.13 ( i.e. , $3,906.25 x 50% =
$1,953.13). 
  
 (3) If the Company achieves quarterly revenues equal to an amount
between eighty percent (80%) and one hundred percent (100%) of that quarter’s revenue goal, then Employee shall be paid a quarterly Revenue Bonus for that quarter that is determined by adding to the base fifty percent (50%) Target Quarterly
Revenue Bonus Amount an amount equal to two and one-half percent (2.5%) of the Target Quarterly Revenue Bonus Amount for each one percent (1%) increase in quarterly revenues above the eighty percent (80%) quarterly revenue minimum. For example:

  
 (A) If the Company achieves quarterly revenues equal to eighty-one percent
(81%) of that quarter’s revenue goal, then Employee shall be paid a quarterly Revenue Bonus for that quarter equal to fifty-two and one-half percent (52.5%) of the Target Quarterly Revenue Bonus Amount. This calculation would result in Employee
receiving a quarterly Revenue Bonus payment for such quarter equal to $2,050.78 ( i.e. , $3,906.25 x 52.5% = $2,050.78). 
  
 (B) If the Company achieves quarterly revenues equal to eighty-five percent (85%) of that quarter’s revenue goal, then Employee shall be paid a quarterly Revenue
Bonus for that quarter equal to sixty-two and one-half percent (62.5%) of the Target Quarterly Revenue Bonus Amount. This calculation would result in Employee receiving a quarterly Revenue Bonus payment for such quarter equal to $2,441.41 ( i.e.
, $3,906.25 x 62.5% = $2,441.41). 
  
 (C) If the Company achieves quarterly
revenues equal to ninety percent (90%) of that quarter’s revenue goal, then Employee shall be paid a quarterly Revenue Bonus for that quarter equal to seventy-five percent (75%) of the Target Quarterly Revenue Bonus Amount. This calculation
would result in Employee receiving a quarterly Revenue Bonus payment for such quarter equal to $2,929.69 ( i.e. , $3,906.25 x 75% = $2,929.69). 
  
 (D) If the Company achieves quarterly revenues equal to ninety-five percent (95%) of that quarter’s revenue goal, then Employee shall be paid a quarterly Revenue
Bonus for that quarter equal to eighty-seven and one-half percent (87.5%) of the Target Quarterly Revenue Bonus Amount. This calculation would result in Employee receiving a quarterly Revenue Bonus payment for such quarter equal to $3,417.97 (
i.e. , $3,906.25 x 87.5% = $3,417.97). 
  
 (ii) Net Income Target .
Fifty percent (50%) of the Bonus amount to be paid to Employee shall be based upon whether the Company meets or exceeds its quarterly net income goals (the “Quarterly Net Income Bonus”) and annual net income goals (the “Annual Net
Income Bonus’), as determined by the Company and approved by the Company’s board of directors. If the Company meets but does not exceed each of its quarterly net income goals, then the total Quarterly Net Income Bonus amount available to
Employee for the calendar year shall be $7,812.50, paid quarterly. If the Company meets but does not exceed its annual net income goal, then the Annual Net Income Bonus amount available to Employee shall be $7,812.50, paid annually. Notwithstanding
the foregoing, each of the Quarterly Net Income Bonus and the Annual Net Income Bonus amount, may be lesser or greater in accordance with the terms of this Agreement. In the event that the Company meets its quarterly net income goal, then Employee
shall be paid one hundred percent (100%) of the Quarterly Net Income Bonus amount payable for that quarter (i.e., $1,953.13) (the “Target Quarterly Net Income Bonus Amount”). In the event that the 

  

 15 

 
Company meets its annual net income goal, then Employee shall be paid one hundred percent (100%) of the Annual Net Income Bonus amount payable for that year
(i.e., $7,812.50) (the “Target Annual Net Income Bonus Amount”). 
  

	(a)	If the Company Exceeds Net Income Target . (I) If the Company exceeds its net income goal for a given quarter, then Employee shall be paid a Quarterly Net Income Bonus for that
quarter calculated on a percentage basis equal to the percentage by which the Company exceeds its quarterly net income goal. However, such increased Quarterly Net Income Bonus for any quarter may not exceed ten percent (10%) above the Target
Quarterly Net Income Bonus Amount. For example, if the Company exceeds its quarterly net income goal by nine percent (9%), then the Quarterly Net Income Bonus amount due Employee for that quarter would be equal to one hundred nine percent (109%) of
the Target Quarterly Net Income Bonus Amount. If the Company exceeds its quarterly net income goal by 10 percent or more, then the Quarterly Net Income Bonus amount due Employee for that quarter would be equal to one hundred ten percent (110%) of
the Target Quarterly Net Income Bonus Amount. For example, if the Company exceeds its quarterly net income goal by fifteen percent (15%), then the Quarterly Net Income Bonus amount due Employee for that quarter would be equal to one hundred ten
percent (110%) of the Target Quarterly Net Income Bonus Amount. 

  
 (II) If the Company exceeds its net income goal for a given year, then Employee shall be paid an Annual Net Income Bonus for that year calculated on a percentage basis equal to the percentage by which the Company exceeds its annual net
income goal. However, such increased Annual Net Income Bonus for any year may not exceed ten percent (10%) above the Target Annual Net Income Bonus Amount. For example, if the Company exceeds its annual net income goal by nine percent (9%), then the
Annual Net Income Bonus amount due Employee for that year would be equal to one hundred nine percent (109%) of the Target Annual Net Income Bonus Amount. If the Company exceeds its annual net income goal by 10 percent or more, then the Annual Net
Income Bonus amount due Employee for that year would be equal to one hundred ten percent (110%) of the Target Annual Net Income Bonus Amount. For example, if the Company exceeds its annual net income goal by fifteen percent (15%), then the Annual
Net Income Bonus amount due Employee for that year would be equal to one hundred ten percent (110%) of the Target Annual Net Income Bonus Amount. 
  

	(b)	If the Company Does Not Meet its Net Income Target . (I) In order for Employee to be paid any portion of the Quarterly Net Income Bonus applicable to that quarter, the
Company must achieve at least ninety percent (90%) of its net income goal for that quarter. If the Company fails to achieve quarterly net income equal to at least ninety percent (90%) of the net income goal for that quarter, then Employee shall not
be paid any Quarterly Net Income Bonus for that quarter. If the Company achieves between 90 percent (90%) and one hundred percent (100%) of its net income goal for a given quarter, then Employee shall be paid a Quarterly Net Income Bonus for that
quarter calculated on a percentage basis 

  
 equal to the percentage
of the quarterly net income goal achieved. For example, if the Company achieves ninety-one percent (91%) its quarterly net income goal, then the Quarterly Net Income Bonus amount due Employee for that quarter would be equal to ninety-one percent
(91%) of the Target Quarterly Net Income Bonus Amount. 
  

	(ii)	In order for Employee to be paid any portion of the Annual Net Income Bonus applicable to that year, the Company must achieve at least ninety percent (90%) of its net income goal
for that year. If the Company fails to achieve annual net income equal to at least ninety percent (90%) of the net income goal for that year, then Employee shall not be paid any Annual Net Income Bonus for that year. If the Company achieves between
90 percent (90%) and one hundred percent (100%) of its net income goal for a given year, then Employee shall be paid an Annual Net Income Bonus for that year calculated on a percentage basis equal to the percentage of the annual net income goal
achieved. For example, if the Company achieves ninety-one percent (91%) its annual net income goal, then the Annual Net Income Bonus amount due Employee for that year would be equal to ninety-one percent (91%) of the Target Annual Net Income Bonus
Amount. 

  

 16 

 (iii) Rule of Construction . In making the calculations required under Section 2(B) of this Agreement, (a )
dollar amounts (for example, revenues and net income) shall be rounded to the nearest $1000 (for example, $15,135,500 shall be rounded to $15,136,000), and (b ) percentages shall be rounded to the nearest one-tenth of one percent (for
example, 63.45% shall be rounded to 63.5%). 
  
 (iiii) Administration. The
Bonus formula and Target Annual Bonus Amount will be established by the Board each year by January 31 and may be adjusted from time to time during the year. Executive must be an employee of the company on the date of payment of the bonus to qualify
for the bonus. The bonus shall not be prorated for employees who terminate prior to payment of the bonus, even if they were employed with the company during the bonus period. This bonus plan shall be administered by the CFO under the direction of
the CEO and the Board of Directors. The bonus plan may be changed at any time without notice by the CEO. 
  

					
	Executive	 	Date	 	 
	 /s/    EDWIN OKAMURA

	 	 	 	 April 4, 2005

			
	CEO	 	Date	 	 
	 /s/    MICHAEL SILTON

	 	 	 	 April 4, 2005

  

 17Employment Agreement by and between Robert Lamvik and Embarcadero

 Exhibit 10.8 
  
 EMBARCADERO TECHNOLOGIES, INC. EMPLOYMENT AGREEMENT 
  
 This Employment Agreement (“Agreement”) by and between Robert Lamvik (hereinafter “Employee”) and
Embarcadero Technologies, Inc. (hereinafter “Company”) is effective May 17, 2004. In consideration of the mutual promises made herein, the Company and Employee agree as follows: 
  
 1. EMPLOYMENT. The Company hereby employs Employee, and Employee hereby accepts
employment with the Company upon all of the terms and conditions described in this Agreement. 
  
 2. WORK RESPONSIBILITIES. Subject to the terms of this Agreement, Employee is hereby employed in the position of Vice President of Sales, and shall perform the functions and responsibilities of that
position. The Company may assign additional or different duties. Employee’s position, job description, duties and responsibilities may be modified from time to time at the sole discretion of the Company. 
  
 3. COMPENSATION. As consideration for the services and covenants described in this
Agreement, the Company agrees to compensate Employee in the following manner: 
  
 Salary/Wages. Your starting salary will be the annualized amount of $200,000.00 payable on a semi-monthly basis for this regular, full time position. In addition, you will be eligible to receive performance
bonuses. Bonus granted for making 100% of revenue and profitability goal is $125,000.00. In addition you will be given a car allowance of $700.00 per month. 
  
 Housing Reimbursement. Your monthly housing allowance will be $4000.00 per month for the period of one year. 
  
 Stock Options. Contingent on Board approval, Employee will be granted
seven year standard form options to purchase 150,000 shares of Common Stock pursuant to the Company’s stock option plan that will vest over 4 years. One fourth of the total option amount shall be granted to Employee upon the successful
completion of twelve months of service. The remaining options shall vest pro-rata on a quarterly basis over the next 3 years in accordance with the Company’s stock option plan. 
  
 Employee Benefits. Employee shall be entitled to employee benefits such as vacation, holidays, leaves of absence,
health insurance, dental insurance, etc., if any, in accordance with any eligibility requirements, policies, procedures, or benefit plans adopted by the Company from time to time during the existence of this Agreement. Employee’s rights or
those of Employee’s dependents under any such benefits policies or plans shall be governed solely by the terms of such policies or plans. The Company reserves to itself, or its designated administrators, exclusive authority and discretion to
determine all issues of eligibility, interpretation and administration of each such benefit plan or policy. The Company’s employment benefits, and policies related thereto, are subject to termination, modification or limitation at the
Company’s sole discretion. You will be entitled to three weeks of vacation each year. 
  

 1 

 Total Compensation. Employee agrees that the compensation stated above constitutes the full and
exclusive monetary consideration and compensation for all services rendered under the Agreement and for all promises and obligations under this Agreement. 
  
 Business Expenses. The Company shall pay Employee’s reasonable business expenses, including expenses incurred for travel on Company business,
in accordance with the policies and procedures of the Company, as may be adopted or amended from time to time at the Company’s sole discretion. If Employee incurs business expense under this Agreement, he shall submit monthly to the Company a
request for reimbursement together with supporting documentation satisfactory to the Company. 
  
 4. LOYAL PERFORMANCE OF RESPONSIBILITIES. Employee shall devote the whole of Employee’s professional time, attention and energies to the performance of Employee’s work responsibilities. Included in
the foregoing, but not limited thereto, during the term of this Agreement, Employee shall not, directly or indirectly, engage in, or serve as an officer, director, employee, partner, agent or consultant, or otherwise hold any ownership interest in
any privately held Company. With the written approval of the CEO, it is permissible to do business with a publicly traded Company if the Employee does not own more than 5% of the stock. Any modification of this paragraph shall be made only by
an agreement in writing signed by Employee and the CEO of the Company. 
  
 5.
COMPANY POLICIES. Employee agrees to abide by the Company’s policies, practices and procedures, written and unwritten, as they may from time to time be adopted or modified by the Company at its sole discretion. The Company’s written
policies, practices and procedures, including the Employee Handbook and Code of Conduct, shall be binding on Employee unless superseded by or in conflict with this Agreement. Copies of written policies and procedures are available to Employee in the
offices of the Company, and Employee shall be responsible at all times to review these policies and procedures. 
  
 6. WARRANTIES. Employee hereby represents and warrants that he has taken no confidential, proprietary or trade secret information from Employee’s prior
employer or employers, and will not knowingly disclose such information to the Company, or improperly use any such information on behalf of the Company. Employee acknowledges that the Company has specifically demanded that, if Employee has any such
confidential, proprietary or trade secret knowledge or information, Employee shall not use such information while employed by the Company for the benefit of the Company. Employee further warrants that by entering into this Agreement with the Company
he is not violating any of the terms, agreements, or covenants of any previous employment or association. Employee further acknowledges that the Company has 
  

 2 

 advised Employee to consult with his personal attorney concerning this proposed employment, matters relating to his prior
employment and any agreements or other matters that might affect his employment by the Company. No contract, order, judgment or other matter would prevent or diminish Employee’s ability to perform fully as of the proposed start date his
proposed duties as Vice President of Sales. Neither the Company nor anyone acting on its behalf induced or solicited the Employee to breach any contract or other enforceable obligation in connection with his proposed employment with the Company. If
at any time his duties with the Company begin to conflict with any prior agreement, Employee shall promptly notify the Company and shall cease and desist from any such duties. 
  
 7. PRIOR INVENTIONS. Employee acknowledges that, except for the inventions disclosed on Appendix A., Employee does not have any right
or claim to any invention, idea, process, formula, discovery, copyright, patent or other such item or matter. No rights are hereby conveyed to inventions, if any, made by Employee prior to employment by the Company, which inventions are listed in
Appendix A, attached hereto. 
  
 8. SUBSEQUENT INVENTION DISCLOSURE.
Employee hereby agrees to promptly disclose in writing to the Company any and all inventions which he develops during the term of employment, which includes all software programs, source or object code, improvements, inventions, formulas, ideas,
processes, techniques, know-how and data, whether or not patentable, made or conceived or reduced to practice or developed by Employee, either alone or jointly with others during the term of his employment. Employee will also disclose to the CEO of
the Company all inventions made, conceived, reduced to practice, or developed by Employee within six months of the termination of his employment with the Company that resulted from his prior work with the Company. Such disclosures shall be received
by the Company in confidence and do not extend the assignment of inventions disclosed beyond that required by law. 
  
 9. ASSIGNMENT OF INVENTIONS. Except as excluded by paragraph 10, Employee hereby assigns and agrees that any and all inventions, discoveries or improvements that
Employee conceives or makes or may conceive or make during the period of his employment relating to or in any way pertaining to or connected with the systems, products, computer programs, software, software codes, apparatus or methods employed,
manufactured or constructed by the Company, or to systems, products, apparatus or methods with respect to which the Company engages in, requests or anticipates research or development, shall be the sole and exclusive property of the Company to the
maximum extent permitted by California Labor Code section 2870. The Company shall be the sole owner of all trade secrets, patents, copyrights, and other intellectual property rights in connection with such inventions. Employee further acknowledges
that such inventions, including computer programs, software codes and others works of authorship, are “works made for hire” for purpose of the Company’s rights under copyright laws. Employee hereby assigns to the Company any rights he
may have or acquire in such inventions, to the maximum extent allowed by law. Employee further agrees that he shall assign, and hereby does assign to the Company 
  

 3 

 the entire right, title and interest in and to all such inventions, discoveries or improvements as well as any
modifications or improvements thereto that may be made. Employee understands that any inventions, discoveries or ideas that Employee has created or possessed prior to his employment by the Company are specified in Appendix A attached to this
Agreement and will not be considered to be the property of the Company. 
  
 10.
INVENTIONS NOT ASSIGNED. In accordance with California Labor Law Code section 2870, this Agreement does not require the assignment of an invention which qualifies fully for protection under section 2870, which provides: 
  

	 	(a)	Any provision and employment agreement which provides that an employee shall assign, or offer to assign, any of his or her rights in an invention to his or her employer shall not
apply to an invention that the employee developed entirely on his or her own time without using the employer’s equipment, supplies, facilities or trade secret information except for those inventions that either: 

  
 Relate at the time of conception or reduction to practice of the invention
to the employer’s business, or actual or demonstrably anticipated research or development of the employer; or 
  
 Result from any work performed by the employee for the employer. 
  

	 	(b)	To the extent a provision in an employment agreement purports to require an employee to assign an invention otherwise excluded from being required to be assigned under subdivision
(a), the provision is against the public policy of this state and is unenforceable. 

  
 11. CONFIDENTIAL, PROPRIETARY AND TRADE SECRET INFORMATION. During the course of employment, Employee will come into possession of or acquire knowledge of confidential, proprietary and trade secret information
of the Company. Employee hereby covenants and agrees that he will not, either during the term of employment or at any time thereafter, disclose any such confidential, proprietary or trade secret information to any person, firm, corporation,
association, partnership or other entity (other than those in the Company’s organization qualified and authorized to receive such information) for any purpose or reason whatsoever. Such confidential and proprietary information shall be deemed
to include, but not be limited to, (i) Company products, designs, software, software codes, software developments, research projects, improvements and methods of operation (ii) business plans, marketing plans and related information, (iii) the
names, lists, buying habits and practices of their customers, clients, vendors, and the relationships between them and the Company, (iv) the Company financial condition, profit performance and financial requirements, and (v) all other confidential
information of, about or concerning the Company, the manner of operation of the Company and other confidential data of any kind, nature or description relating to the Company. Employee specifically agrees that he will not make use of any 

 

 4 

 such confidential or proprietary information for his own purpose, or for the benefit of any person, firm, corporation or
other entity except the Company. Employee will abide by the Company’s policies and procedures, as established from time to time for the protection of its trade secrets and confidential information. Employee does not know of any of the
Company’s confidential, proprietary or trade secret information other than the information he has learned from the Company. 
  
 12. RETURN OF PROPERTY. All confidential, proprietary and trade secret information, and all other documents, records, apparatus, equipment and other physical
property which is furnished to or obtained by Employee in the course of employment with the Company shall be and remain the sole property of the Company. Employee agrees that, upon termination of his employment, Employee shall return all such
property and agrees not to make or retain copies, reproductions or summaries of any such property without the express written consent of the Company. 
  
 13. NON-SOLICITATION, ANTI RAIDING. For a period of one (1) year immediately following the termination of this Agreement, Employee agrees that he will not, either
directly or indirectly, attempt to recruit, solicit or take away any of the employees of the Company who worked for the Company at any time during the term of this Agreement; make known to any person, firm or corporation the names or addresses of,
or any information pertaining to, any current or former employees of the Company; attempt to call on, solicit or take away any customers of the Company or any other persons, entities or corporations with which the Company has had or contemplated any
business transaction or relationship during his employment with the Company, including, but not limited to, investments, licenses, joint ventures, and agreements for development, with the use of any proprietary, confidential information or a trade
secret of the Company, for purposes of entering into any business transaction or relationship with any such customers or other persons, entities or corporations. 
  
 14. EQUITABLE RELIEF. Employee and the Company agree that in the event of any breach of paragraphs 7, 8, 9, 10, 11, 12 or 13 of this
Agreement, the Company and Employee will not have adequate remedy at law. Thus, in the event of such a breach or threatened breach, the Company and/or Employee will be entitled to such equitable and injunctive relief as may be available to prevent
and restrain the breach of the provisions of paragraphs 7 through 13. Said availability to obtain injunctive relief will not prevent the Company or Employee from pursuing any other equitable or legal relief, including the recovery of damages from
such breach or threatened breach. 
  
 15. AT WILL EMPLOYMENT. Employment at
Embarcadero Technologies, Inc is at will. This means that employment may be terminated with or without cause and with or without notice at any time by either the Employee or by Embarcadero Technologies, Inc. Nothing in this or any other document or
statement shall limit the right to terminate employment at will. No officer, manager, supervisor or employee of Embarcadero Technologies, Inc., has any authority to enter into an agreement for employment for any specified period of time or to make
an agreement for employment other than at will. Only the CEO of Embarcadero Technologies, Inc. has the authority to make any such agreement and then only in writing that expressly modifies the policy of at will employment. 
  

 5 

 16. GOVERNING LAW. This Agreement shall be construed in accordance with and governed by the laws of the State of
California. 
  
 17. INTERPRETATION. This Agreement shall be interpreted in
accordance with the plain meaning of its terms and not strictly for or against either party. 
  
 18. HEADINGS. The headings of this Agreement are intended solely for the convenience of reference and should be given no effect in the construction or interpretation of this Agreement. 
  
 19. ENTIRE AGREEMENT. This Agreement embodies the complete agreement and understanding
of the parties related to his employment of the Employee by the Company, superseding any and all other prior or contemporaneous oral or written agreements between the parties hereto with respect to the employment of the Employee by the Company, and
contains all of the covenants and agreements of any kind whatsoever between the parties with respect to such employment. Each party acknowledges that no representations, inducements, promises or agreements, whether oral or written, express or
implied, have been made by either party or anyone acting on behalf of an party, that are not incorporated herein and that no other agreement or promise not contained herein shall be valid or binding. 
  
 20. MODIFICATION. This Agreement may be amended only by an agreement in writing signed
by the parties hereto. 
  
 21. WAIVER. That failure of either party to
insist, in any one or more instances, upon performance of the terms or conditions of this Agreement shall not be construed as a waiver or a relinquishment of any right granted under this Agreement or of the future performance of any such term,
covenants or condition. 
  
 22. INVALIDITY. Should any provision(s),
portion(s), or part(s) of this Agreement be held by a court of competent jurisdiction to be invalid, void or unenforceable, the remaining provisions, portions or parts shall be unaffected and shall continue in full force and effect, and said
invalid, void or unenforceable provision(s), portion(s), or part(s) shall be deemed not to be part of this Agreement. 
  
 23. NO PARTNERSHIP. The parties agree that nothing expressed or implied in this Agreement shall be deemed or construed by the parties hereto, or by any third
person, to create the relationship of principal and agent or of partnership or of joint venture or of lessor and lessee or of any other association between Employee and Company other than that of employer and employee. 
  
 24. NO THIRD PARTY BENEFICIARIES. This Agreement in not intended by either party to
create any third party beneficiaries, and shall not be so construed in any 
  

 6 

 proceeding. The sole parties to this Agreement are the Employee and the Company, and it is their mutual intent that they
alone shall have standing to enforce the provisions of this Agreement. 
  
 25.
VOLUNTARY AGREEMENT. Employee and the Company represent and agree that each has reviewed all aspects of this Agreement, has carefully read and fully understands all provisions of this Agreement, and is voluntarily entering into this
Agreement. Each party represents and agrees that such party has had the opportunity to review any and all aspects of this Agreement with the legal, tax or other advisor or advisors of such party’s choice before executing this Agreement.

  
 26. SUCCESSORS AND ASSIGNS. This Agreement shall be binding upon and
inure to the benefit of and shall be enforceable by and against the Employee’s heirs, beneficiaries and legal representatives. It is agreed that the rights and obligations of Employee may not be delegated or assigned except as specifically set
forth in Agreement. In the event of a sale of all or substantially all of the Company’s capital stock, sale of all, or substantially all of the Company’s assets, or consolidation or merger of the Company with or into another corporation or
entity or individual, the Company may assign its rights and obligations under this Agreement to have its successor-in-interest, and such successor-in-interest shall be deemed to have acquired all rights and assumed all obligations of the Company
under this Agreement. 
  
 27. ALTERNATIVE DISPUTE RESOLUTION PROGRAM.
Employee understands and agrees that, as a condition of employment, employee will enter into an agreement, attached as Appendix B, to arbitrate all disputes arising out of or related to the termination of employment, as well as any unlawful
discrimination, or unlawful harassment (including sexual harassment) claims. Only an arbitrator, not a judge or a jury, will hear such disputes. 
  

					
	Dated: 5/14/04	 	 /s/ Robert Lamvik

	 	 	 	 	Robert Lamvik
		
	Dated: 5/14/04	 	 /s/ Lorraine Gnecco

  

 7 

 Appendix A 
  
 Inventions: Except as set forth below, I hereby acknowledge that at this time I have no right, title, or other interest in any invention, patent, copyright or other such
material other than the following: (if none, so state.) 
  

					
	Dated: 5/14/04	 	 /s/ Robert Lamvik

	 	 	 	 	Robert Lamvik

  

 8 

 APPENDIX B 
  

ALTERNATIVE DISPUTE RESOLUTION POLICY 
  

	I.	AGREEMENT TO ARBITRATE 

  
 In the event that any employment dispute arises between Embarcadero Technologies, Inc. (“Company”) and Robert Lamvik (“Employee”), the
parties involved will make all efforts to resolve any such dispute through informal means. If these informal attempts at resolution fail and if the dispute arises out of or is related to the parties’ Employment And Confidentiality
Agreement, the termination of Employee’s employment or alleged unlawful discrimination, including but not limited to unlawful harassment, the Company and Employee will submit the dispute to final and binding arbitration, except as set forth in
paragraph 14 of the Employment Agreement. 
  
 The parties
expressly understand and agree that arbitration is the exclusive remedy for all such disputes; with respect to such disputes, no other action may be brought in court or any other forum (except actions to compel arbitration hereunder). THIS
ALTERNATIVE DISPUTE RESOLUTION (“ADR”) AGREEMENT IS A WAIVER OF THE PARTIES’ RIGHTS TO A CIVIL COURT ACTION FOR A DISPUTE RELATING TO BREACH OF THE PARTIES’ EMPLOYMENT AGREEMENT, TERMINATION OF THAT EMPLOYMENT OR ALLEGED UNLAWFUL
DISCRIMINATION, WHICH INCLUDES RETALIATION OR SEXUAL OR OTHER UNLAWFUL HARASSMENT; ONLY AN ARBITRATOR, NOT A JUDGE OR JURY, WILL DECIDE THE DISPUTE. 
  
 Employment disputes arising out of or related to termination of employment or alleged unlawful discrimination, including retaliation or sexual or other
unlawful harassment, shall include, but not be limited to, the following: alleged violations of federal, state and/or local constitutions, statutes or regulations; claims based on any purported breach of contractual obligation, including breach of
the covenant of good faith and fair dealing; and claims based on any purported breach of duty arising in tort, including violations of public policy. Disputes related to workers’ compensation and unemployment insurance is not arbitrable
hereunder. Claims for benefits covered by a separate benefit plan that provides for arbitration are not covered by this ADR Agreement. Also, nothing in Employment Agreement or in the ADR Policy shall be construed as precluding Employee from filing a
charge with the Equal Employment Opportunity Commission (“EEOC”), the National Labor Relations Board (“NLRB”) or other federal, state or local agencies, seeking administrative assistance in resolving claims. However, any claim
that cannot be resolved administratively through such an agency shall be subject to the Employment Agreement and the ADR Policy. 
  

 9 

	II.	REQUEST FOR ARBITRATION 

  

	 	A.	Attempt At Informal Resolution Of Disputes 

  
 Prior to submission of any dispute to arbitration, Employee and the Company shall attempt to resolve the dispute informally as set forth below.

  
 Employee and the Company will select a mediator from a list
provided by the Federal Mediation and Conciliation Service or other similar agency who will assist the parties in attempting to reach a settlement of the dispute. The mediator may make settlement suggestions to the parties but shall not have the
power to impose a settlement upon them. If the dispute is resolved in mediation, the matter shall be deemed closed. If the dispute is not resolved in mediation and goes to the next step (binding arbitration), any proposals or compromises suggested
by either of the parties or the mediator shall not be referred to in or have any bearing on the arbitration procedure. The mediator cannot also serve as the arbitrator in the subsequent proceeding unless all parties expressly agree in writing.

  

	 	B.	Arbitration Procedures 

  
 The party desiring arbitration, whether Employee or the Company, must submit a “Request For Arbitration” in writing to the other party within
the time period required by the law that applies to the claim under the applicable statute of limitations. If the “Request for Arbitration” is not submitted in accordance with the aforementioned time limitations, the party failing to do so
will not be able to bring his claims to this or any other forum. The requesting party may use a “Request for Arbitration” form supplied by the Company (Appendix C). Alternatively, the requesting party may create a “Request for
Arbitration” form that, unless otherwise required by law, clearly states “Request for Arbitration” at the beginning of the first page and includes the following information: 
  

	 	1.	A factual description of the dispute in sufficient detail to advise the other party of the nature of the dispute; 

  

	 	2.	The date when the dispute first arose; 

  

	 	3.	The names, work locations and telephone numbers of any individuals, including employees or supervisors, with knowledge of the dispute; and 

  

	 	4.	The relief requested by requesting party. 

  
 The responding party may submit counterclaim(s) in accordance with applicable law. 
  

 10 

	 	C.	Selection Of The Arbitrator 

  
 All disputes will be resolved by a single Arbitrator, the Arbitrator will be mutually selected by the Company and Employee. If the parties cannot agree on
an Arbitrator, then a list of seven (7) arbitrators, experienced in employment matters, shall be provided by the Federal Mediation and Conciliation Service. The Arbitrator will be selected by the parties who will alternately strike names from the
list. The last name remaining on the list will be the Arbitrator selected to resolve the dispute. Upon selection, the Arbitrator shall set an appropriate time, date and place for the arbitration, after conferring with the parties to the dispute.

  

	 	D.	The Arbitrator’s Authority 

  
 The Arbitrator shall have the powers enumerated below: 
  

	 	1.	Ruling on motions regarding discovery, and ruling on procedural and evidentiary issues arising during the arbitration. 

  

	 	2.	Ruling on motions to dismiss and/or motions for summary judgment applying the standards governing such motions under the Federal Rules of Civil Procedure. 

 

	 	3.	Issuing protective orders on the motion of any party or third party witness. Such protective orders may include, but are not limited to, sealing the record of the arbitration, in
whole or in part (including discovery proceedings and motions, transcripts, and the decision and award), to protect the privacy or other constitutional or statutory rights of parties and/or witnesses. 

  

	 	4.	Determining only the issue(s) submitted to him/her. The issue(s) must be identifiable in the “Request for Arbitration” or counterclaim(s). Except as required by law, any
issue(s) not identifiable in those documents is outside the scope of the Arbitrator’s jurisdiction and any award involving such issue(s), upon motion by a party, shall be vacated. 

  

	 	E.	Discovery 

  
 The discovery process shall proceed and be governed, consistent with the standards of the Federal Rules of Civil Procedure, as follows: 
  

	 	1.	Unless otherwise required by law, parties may obtain discovery by any of the methods allowed under the Federal Rules of Civil Procedure. 

  

	 	2.	To the extent permitted by the Federal Arbitration Act or applicable California law, each party shall have the right to subpoena witnesses and documents during discovery and for the
arbitration. 

  

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	 	3.	All discovery requests shall be submitted no less than sixty (60) days before the hearing date. 

  

	 	4.	The scope of discoverable evidence shall be in accordance with Federal Rule of Civil Procedure 26(b) (1). 

  

	 	5.	The Arbitrator shall have the power to enforce the aforementioned discovery rights and obligations by the imposition of the same terms, conditions, consequences, liabilities,
sanctions and penalties as can or may be imposed in like circumstances in a civil action by a federal court under the Federal Rules of Civil Procedure, except the power to order the arrest or imprisonment of a person. 

  

	 	F.	Hearing Procedure 

  
 The hearing shall be held at a location mutually agreed upon by the parties, or as determined by the Arbitrator in the absence of an agreement, and shall
proceed according to the American Arbitration Association’s “National Rules for the Resolution of Employment Disputes” in effect at the time of the arbitration, with the following amendments: 
  

	 	1.	The Arbitrator shall rule at the outset of the arbitration on procedural issues that bear on whether the arbitration is allowed to proceed. 

  

	 	2.	Each party has the burden of proving each element of its claims or counterclaims, and each party has the burden of proving any of its affirmative defenses. 

 

	 	3.	In addition to, or in lieu of closing argument, either party shall have the right to present a post-hearing brief, and the due date for exchanging any post-hearing briefs shall be
mutually agreed on by the parties and the Arbitrator, or determined by the Arbitrator in the absence of agreement. 

  

	 	G.	Substantive Law 

  

	 	1.	The parties agree that they will be afforded the identical legal, equitable, and statutory remedies as would be afforded them were they to bring an action in a court of competent
jurisdiction. 

  

	 	2.	The applicable substantive law shall be the law of the State of California or federal law. Choice of substantive law in no way affects the procedural aspects of the arbitration,
which are exclusively governed by the provisions of this ADR Agreement. 

  

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	 	H.	Opinion And Award 

  
 The Arbitrator shall issue a written opinion and award, in conformance with the following requirements: 
  

	 	1.	The opinion and award must be signed and dated by the Arbitrator. 

  

	 	2.	The Arbitrator’s opinion and award shall decide all issues submitted. 

  

	 	3.	The Arbitrator’s opinion and award shall set forth the legal principles supporting each part of the opinion. 

  

	 	4.	The Arbitrator shall have the same authority to award remedies, damages and costs as provided to a judge and/or jury under parallel circumstances. 

  

	 	I.	Enforcement Of Arbitrator’s Award 

  
 Following the issuance of the Arbitrator’s decision, any party may petition a court to confirm, enforce, correct or vacate the Arbitrator’s
opinion and award under the Federal Arbitration Act, and/or applicable California law. 
  

	 	J.	Fees And Costs 

  
 Unless otherwise required by law, fees and costs shall be allocated in the following manner: 
  

	 	1.	Each party shall be responsible for its own attorneys’ fees, except as otherwise provided by law for the particular claim(s) at issue. 

  

	 	2.	The Company shall pay the entire cost of the arbitrator’s services, the facility in which the arbitration is to be held, and any similar costs. 

  

	 	3.	The Company shall pay the entire cost of a court reporter to transcribe the arbitration proceedings. Each party shall advance the cost for said party’s transcript of the
proceedings. Each party shall advance its own costs for witness fees, service and subpoena charges, copying, or other incidental costs that each party would bear during the course of a civil lawsuit. 

  

	 	4.	Each party shall be responsible for its costs associated with discovery, except as required by law or court order. 

  

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	III.	SEVERABILITY 

  
 Each term, clause and provision of this ADR Agreement is separate and independent, and should any term, clause or provision of this ADR Agreement be found
to be invalid or unenforceable, the validity of the remaining terms, clauses, and provisions shall not be affected. As to those terms, clauses and provisions found to be invalid or unenforceable, they shall be replaced with valid and enforceable
terms, clauses or provisions or shall be modified, in order to achieve, to the fullest extent possible, the economic, business and other purposes of the invalid or unenforceable terms, clauses or provisions. 
  

					
	Dated: 5/4/04	 	 /s/ Robert Lamvik

	 	 	 	 	EMPLOYEE
		
	 	 	EMBARCADERO TECHNOLOGIES, INC.
			
	Dated: 5/4/04	 	By:	 	 /s/ Raj Sabhlok

			
	 	 	Title:	 	 VP

  
  

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