Document:

Exhibit

Exhibit 10.1
CORNERSTONE ONDEMAND, INC.
EMPLOYMENT AGREEMENT
This Employment Agreement (the “Agreement”) is effective as of May 1, 2016 (the “Effective Date”) by and between Cornerstone OnDemand, Inc., a Delaware corporation (the “Company”), and Brian L. Swartz (“Executive”).
RECITALS
WHEREAS, the Company wishes to retain the services of Executive and Executive wishes to commence employment with the Company on the terms and subject to the conditions set forth in this Agreement;
NOW THEREFORE, in consideration of the foregoing recital and the respective undertakings of the Company and Executive set forth below, the Company and Executive agree as follows:
1.Duties and Scope of Employment.  Effective May 1, 2016 (the “Start Date”), Executive will join the Company as an employee in a non-executive capacity to advise and provide support to the Company’s finance team for a transition period ending on the earlier of: (i) the date determined by the Company’s Chief Executive Officer; or (ii) June 1, 2016.  Immediately following the transition period, Executive will assume the role of Chief Financial Officer.  Executive shall have the authority generally allowed to persons discharging the duties of such positions.  Executive shall perform his duties faithfully and satisfactorily to the performance standards reasonably expected of a person in such positions.  Executive will render such business and professional services in the performance of his duties, consistent with Executive’s position within the Company, as will reasonably be assigned to him by the Company’s Chief Executive Officer.  Executive will devote substantially his full business efforts and time to the performance of Executive’s duties hereunder, provided however, that Executive may serve on outside board positions that are not competitive with the Company subject to the requirement that such service on outside boards of directors does not materially interfere with Executive’s performance of his duties under this Agreement and the Company’s Board of Directors (the “Board”) approves such board membership (which will not be unreasonably withheld).  The Company shall indemnify Executive to the same extent as it indemnifies all other officers under Delaware law and in accordance with the Company’s bylaws, as same may be amended from time to time (as a Company officer, such indemnification shall include Executive as a beneficiary of any insurance maintained by the Company pursuant to the Company’s directors and officers liability insurance policies).  Executive’s principal place of employment shall be at the Company’s offices located in Santa Monica, California.  
2.At-Will Employment.  Subject to the terms hereof, Executive’s employment with the Company will be “at-will” employment and may be terminated by Company at any time with or without Cause (as such term is defined in the Change of Control Severance Agreement (“CoC Agreement”) to be entered into concurrently between Executive and the Company) or with or without notice. However, as described in the CoC Agreement, Executive may be entitled to severance benefits depending upon the circumstances of Executive’s termination of employment, subject to the terms and conditions of the CoC Agreement.
3.Term of Agreement.  Subject to Section 2, this Agreement will have an initial term of three (3) years, commencing on the Start Date (the “Initial Term”).  On the third anniversary of the Start Date, this Agreement will renew automatically for additional one (1) year terms (each an “Additional Term”), unless either party provides the other party with written notice of non-renewal at least ninety (90) days prior to the date of automatic renewal.  Notwithstanding the foregoing provisions of this paragraph, (a) if a Change of Control (as defined in the CoC Agreement) occurs when there are fewer than twelve (12) months remaining during the Initial Term or an Additional Term, the term of this Agreement will extend automatically through the date that is twelve (12) months following the effective date of the Change of Control, or (b) if an initial occurrence of an act or omission by the Company constituting the grounds for “Good Reason” as defined in and in accordance with Section 6(g) of the CoC Agreement has occurred (the “Initial Grounds”), and the expiration date of the Company cure period (as such term is used in Section 6(g) of the CoC Agreement) with respect to such Initial Grounds could occur following the expiration of the Initial Term or an Additional Term, the term of this Agreement will extend automatically through the date that is thirty (30) days following the expiration of such cure period.  If Executive becomes entitled to benefits under Section 3 of the CoC Agreement during the term of this Agreement, this Agreement will not terminate until all of the obligations of the parties hereto with respect to this Agreement have been satisfied.

4.Compensation.
(a)Base Salary.  Executive shall receive an annual base salary of $425,000 (“Base Salary”) payable in accordance with the Company’s normal payroll practices and be subject to the usual, required withholdings.  Executive’s Base Salary will be subject to review and any adjustments will be made based upon the Company’s normal performance review practice.
(b)2016 Bonus.  For 2016 only, in lieu of the bonus described in Section 4(c) below, Company will pay to Executive a minimum bonus equal to 70% of his Base Salary, pro-rated based on Executive's Start Date; provided, however, that in the event such bonus would be greater if calculated in accordance with Section 4(c) below, Executive will receive such higher amount on a pro-rated basis (such greater amount, the “2016 Bonus”).  
(c)Performance Bonus.  Executive will qualify for an annual performance bonus (“Annual Bonus”) with a target level of 70% of Base Salary (“Target Level”) based upon performance criteria as established by the Compensation Committee of the Board (the “Compensation Committee”) and subject to the terms and conditions of the Company’s executive bonus plan for the applicable fiscal year.  Any Annual Bonus will be paid as soon as practicable after the Board or the Compensation Committee determines that the Annual Bonus has been earned, but in no event will the Annual Bonus be paid after the later of: (i) the fifteenth (15th) day of the third (3rd) month following the close of the Company’s fiscal year in which the Annual Bonus is earned; or (ii) March 15 following the calendar year in which the Annual Bonus is earned.
(d)Equity Awards.  
(i)Stock Options.  Subject to approval of the Compensation Committee, within approximately five (5) days following the Start Date, Executive will be granted an option to purchase fifty thousand (50,000) shares of Company common stock (the “Option”) with a per share exercise price equal to the fair market value of a share of Company common stock on such date of grant as determined pursuant to the terms of the Company’s 2010 Equity Incentive Plan (the “Equity Plan”).  Subject to accelerated vesting upon certain terminations of employment as set forth in the CoC Agreement, the Option will vest as follows: (i) one fourth (1/4th) of the total number of shares subject to the Option will vest on the one (1) year anniversary of the vesting commencement date and (ii) one forty-eighth (1/48th) of the total number of shares subject to the Option will vest each month thereafter for the next thirty six (36) months, subject to Executive’s continued employment with the Company on each scheduled vesting date.  The Option will be subject to the terms and conditions of the Equity Plan and a stock option agreement consistent with the terms of this Agreement by and between Executive and the Company (the “Option Agreement”) both of which documents are incorporated herein by reference.
(ii)Restricted Stock Units.  Subject to approval of the Compensation Committee, within approximately five (5) days following the Start Date, Executive will be granted an award of fifty thousand (50,000) restricted stock units (the “Initial RSU Award”) pursuant to the terms of the Equity Plan.  Subject to accelerated vesting upon certain terminations of employment as set forth in the CoC Agreement, the Initial RSU Award will vest as follows: one fourth (1/4th) of the total number of shares subject to the Initial RSU Award will vest on each of the first four (4) annual anniversaries of the vesting commencement date, subject to Executive’s continued employment with the Company on each scheduled vesting date.  In addition, subject to approval of the Compensation Committee, within approximately five (5) days following the Start Date, Executive will be granted an award of forty thousand (40,000) restricted stock units (the “Supplemental RSU Award”) pursuant to the terms of the Equity Plan.  Subject to accelerated vesting upon certain terminations of employment as set forth in the CoC Agreement, the Supplemental RSU Award will vest as follows: one half (1/2) of the shares subject to the Supplemental RSU Award will vest on each of the first two (2) annual anniversaries of the vesting commencement date, subject to Executive’s continued employment with the Company on each scheduled vesting date.  The Initial RSU Award and the Supplemental RSU Award each will be subject to the terms and conditions of the Equity Plan and to a restricted stock unit agreement consistent with the terms of this Agreement by and between Executive and the Company, each of which documents are incorporated herein by reference.
(iii)Additional Future Equity Awards.  Executive will be eligible to receive awards of stock options, restricted stock units or other equity awards covering shares of Company common stock pursuant to any plans or arrangements the Company may have in effect from time to time, including but not limited to any focal grants.  The Board or the Compensation Committee will determine in its discretion whether Executive will be granted any such equity awards and the terms of any such award in accordance with the terms of any applicable plan or arrangement that may be in effect from time to time.

5.Relocation and Related Expenses.  In order to assist Executive in the smooth transition from his current home location to the greater Los Angeles region, the Company will provide Executive with the relocation and related benefits described herein.  
(a)The Company will provide directly or reimburse Executive for all reasonable and customary moving expenses associated with Executive’s relocation to the greater Los Angeles region, up to a maximum of forty thousand dollars ($40,000) (the “Relocation Expenses”), subject to Executive’s submission of appropriate receipts and invoices.  
(b)Relocation Expenses do not include payment of any costs associated with buying or selling a home.  Therefore, in order to mitigate Executive’s costs with respect to such expenses, the Company will reimburse any reasonable and customary brokers fees and other directly related costs (excluding taxes) associated with the sale of Executive’s primary residence in the Seattle, Washington area (“Primary Residence”), up to a maximum amount equal to the lesser of: (x) actual fees and costs (excluding taxes) incurred; or (y) the amount by which the price Executive paid to purchase the Primary Residence exceeds the total proceeds received by Executive for the sale of the Primary Residence, net of broker fees and costs (but not taxes) (“Net Home Sale Costs”), subject to Executive’s submission of appropriate receipts and invoices.  
(c)The Company understands that Executive’s relocation may take some time to complete.  During such time, Executive generally will travel to the Company’s Santa Monica offices.  To assist Executive during this relocation period, until the earlier of (i) the completion of Executive’s relocation to the greater Los Angeles region, or (ii) September 30, 2016, the Company will reimburse Executive for the reasonable costs of flights from his current home location to the greater Los Angeles region, as well as for accommodations in the Los Angeles area during the workweek, in each case, in accordance with the Company’s travel policy (the “Transition Expenses”). 
(d)To be reimbursable, Relocation Expenses, Net Home Sale Costs, and Transition Expenses must be incurred, and appropriate receipts and invoices submitted to the Company, no later than December 31, 2016.  Relocation Expenses, Net Home Sale Costs and Transition Expenses for which appropriate receipts and have been timely submitted will be reimbursed to Executive as soon as administratively practicable after such submission.  In no event will any Relocation Expenses, Net Home Sale Costs or Transition Expenses be reimbursed to Executive later than March 15, 2017.  To the extent that any Relocation Expenses, Net Home Sale Costs, and Transition Expenses are taxable to Executive, the Company will make a gross payment in the amount necessary, so that, after taking into account any federal, state, and local income taxes withheld by the Company, the net amount Executive receives, after tax, is equal to the full amount of Relocation Expenses, Net Home Sale Costs, and Transition Expenses incurred by Executive.
6.Other Benefits.  Executive shall be entitled to participate in executive benefit plans and programs of the Company, if any, on the same terms and conditions as other similarly-situated employees to the extent that Executive’s position, tenure, salary, age, health and other qualifications make Executive eligible to participate in such plans or programs, subject to the rules and regulations applicable thereto. The Company reserves the right to cancel or change the benefit plans and programs it offers to its employees at any time.
7.Vacations; Holidays, Sick Days.  Executive shall be entitled to annual paid vacation, paid holidays, and paid sick leave in accordance with the Company’s applicable policies, which may change from time to time
8.Expenses.  The Company will reimburse Executive for standard business expenses pursuant to the Company’s standard policies in effect from time to time.  In the event that any expense reimbursements are taxable to Executive, such reimbursements will be made in the time frame specified by Treasury Regulation Section 1.409A-3(i)(1)(iv) unless another time frame that complies with or is exempt from “Section 409A” (as defined below) is specified in the Company’s expense reimbursement policy.  Company will reimburse the Executive for reasonable legal fees associated with the review of this Agreement and other related agreements up to a maximum amount of ten thousand dollars ($10,000).  
9.Change of Control Agreement.  Subject to approval by the Compensation Committee, Executive and the Company will enter into the CoC Agreement in substantially the form presented to Executive concurrently with this Agreement, and such document is incorporated herein by reference.   
10.Section 409A.  It is the intent of this Agreement to be exempt from or comply with the requirements of Section 409A (as defined below) so that none of the payments and benefits to be provided under this Agreement will be subject to the additional tax imposed under Section 409A, and any ambiguities or ambiguous terms in this Agreement will be interpreted to be so exempt or so comply.  In no event will the Company reimburse Executive for any taxes imposed or other costs incurred as a result of Section 409A. The Company and Executive agree to work together in good faith to consider amendments to this Agreement and to take such reasonable actions which are necessary, appropriate or desirable to avoid imposition of any additional tax or income recognition under Section 409A prior to actual payment to Executive.  For purposes 

of this Agreement, “Section 409A” means Section 409A of the Internal Revenue Code of 1986, as amended, and the final regulations and any guidance promulgated thereunder and any state law equivalent. 
11.Proprietary Information and Inventions Agreement.  Executive agrees to enter into the Company’s standard Employment, Confidential Information, Invention Assignment, and Arbitration Agreement (the “Confidentiality Agreement”), which agreement is incorporated herein by reference.
12.No Conflict.  Executive represents and warrants that his employment by the Company as described herein shall not conflict with and will not be constrained by any prior employment or consulting agreement or relationship.
13.Miscellaneous.
(a)Governing Law.  This Agreement will be governed by the laws of the State of California (with the exception of its conflict of law provisions).
(b)Assignment.  This Agreement and all rights hereunder shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and their respective personal or legal representatives, executors, administrators, heirs, distributees, devisees, legatees, successors and assigns.  This Agreement is personal in nature, and neither of the parties to this Agreement shall, without the written consent of the other, assign or transfer this Agreement or any right or obligation under this Agreement to any other person or entity; except that the Company may assign this Agreement to any of its affiliates or wholly-owned subsidiaries or to any successor-in-interest by virtue of a reorganization, merger or other form of business combination, provided, that such assignment will not relieve the Company of its obligations hereunder.  Any attempted assignment, transfer, conveyance or other disposition of Executive’s right to compensation or other benefits will be null and void.
(c)Notices.  All notices, requests, demands and other communications called for hereunder will be in writing and will be deemed given (a) on the date of delivery if delivered personally; (b) one (1) day after being sent overnight by a well-established commercial overnight service, or (c) four (4) days after being mailed by registered or certified mail, return receipt requested, prepaid and addressed to the parties or their successors at the following addresses, or at such other addresses as the parties may later designate in writing:
If to the Company:
Attn: General Counsel
Cornerstone OnDemand, Inc.,
1601 Cloverfield Boulevard, Suite 620
Santa Monica, CA 90404
If to Executive:
Attn:  Diane A. Thompson
Ballard Spahr LLP 
2029 Century Park East, Suite 800 
Los Angeles, CA 90067 
(d)Acknowledgment.  Executive acknowledges that he has had the opportunity to discuss this matter with and obtain advice from his private attorney, has had sufficient time to, and has carefully read and fully understands all the provisions of this Agreement, including that Executive is waiving his right to a jury trial, and is knowingly and voluntarily entering into this Agreement.
(e)Severability.  In the event that any provision hereof becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, this Agreement will continue in full force and effect without said provision.
(f)Integration.  This Agreement, along with the documents incorporated by reference herein, represents the entire agreement and understanding between the parties as to the subject matter herein and supersedes all prior or contemporaneous agreements whether written or oral.  No waiver, alteration, or modification of any of the provisions of this Agreement will be binding unless in writing and signed by the Company and Executive.
(g)Arbitration.  Any dispute or controversy arising out of or relating to any interpretation, construction, performance or breach of this agreement or the Confidentiality Agreement, will be settled by arbitration pursuant to the arbitration provisions set forth in the Confidentiality Agreement. 

(h)Tax Withholding.  All payments made pursuant to this Agreement will be subject to withholding of applicable taxes.
(i)Headings.  All captions and section headings used in this Agreement are for convenient reference only and do not form a part of this Agreement.
(j)Counterparts.  This Agreement may be executed in counterparts, PDF or facsimile, each an original and each having the same force and effect as an original and shall constitute an effective, binding agreement on the part of each of the undersigned.

IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Company by its duly authorized officer, as of the day and year first above written.
COMPANY:
Cornerstone OnDemand, Inc.
By:   /s/ Adam Miller                                                  
Adam Miller, Chief Executive Officer
EXECUTIVE:
/s/ Brian L. Swartz                                                       
Brian L. Swartz

[Signature Page to Employment Agreement]

Exhibit A
Form of Employment, Confidential Information, Invention Assignment, and Arbitration AgreementExhibit

Exhibit 10.2
CORNERSTONE ONDEMAND, INC.
RETIREMENT AGREEMENT
This Retirement Agreement (“Retirement Agreement”) is made by and between Perry Wallack (“Executive”) and Cornerstone OnDemand, Inc. (the “Company”) collectively referred to as the “Parties,” as of May 1, 2016 (the “Transition Period Commencement Date”):
RECITALS
WHEREAS, Executive is employed by the Company as Chief Financial Officer pursuant to the terms of an employment agreement between Executive and the Company effective November 8, 2010 (the “Employment Agreement”);
WHEREAS, Executive will be retiring from his role as Chief Financial Officer effective upon his successor commencing employment with the Company (the date on which his successor commences employment with the Company referred to as the “Successor Commencement Date”);
WHEREAS, the Company desires to have Executive remain employed following the hiring of his successor to help his successor transition into Executive’s role; 
WHEREAS, if Executive remains employed with the Company through December 31, 2016 (the “Expected Termination Date”), then Executive will be entitled to the severance benefits set forth in Section 2 below, subject to Executive executing and not revoking the Supplemental Separation Agreement attached hereto as Exhibit A, in accordance with the terms below; and
WHEREAS, the Parties, and each of them, wish to set forth the terms of Executive’s continued employment through his separation from the Company and to resolve any and all disputes, claims, complaints, grievances, charges, actions, petitions and demands that Executive may have against the Company as defined herein.
NOW THEREFORE, in consideration of the promises made herein, the Parties hereby agree as follows:
COVENANTS
1.Transition; Termination Date; Employment Status; Acknowledgements.
(a)Transition.  From the Transition Period Commencement Date through the Actual Termination Date (the “Transition Period”), the Parties agree that Executive will continue to be employed pursuant to the current terms of his employment, as amended by this Retirement Agreement.  Prior to the Successor Commencement Date, Executive will continue in his full-time role as Chief Financial Officer, reporting to Adam Miller, President and Chief Executive Officer.  On the Successor Commencement Date, Executive agrees to resign from all officer positions he then holds with the Company and any of its subsidiary companies.  Following the Successor Commencement Date and during the remainder of the Transition Period, Executive will engage as a “senior advisor” in activities relating to the transition of his duties as Chief Financial Officer to his successor, reporting to Adam Miller, President and Chief Executive Officer.  
(b)Termination Date.  Executive’s termination date will occur on the Expected Termination Date, or earlier as provided in Section 1(c) (the date of Executive’s actual termination of employment with the Company, the “Actual Termination Date”).
(c)Employment Status.  Executive is free to terminate his employment at any time prior to the Expected Termination Date, for any reason or for no reason.  Similarly, the Company is free to terminate Executive’s employment at any time prior to the Expected Termination Date, for any reason or for no reason.  As described in Section 2, Executive may be entitled to severance benefits depending on the circumstances of Executive’s termination of employment with the Company.
2.Severance.  If Executive remains employed with the Company through the Expected Termination Date, or, if prior to the Expected Termination Date, Executive’s employment with the Company is terminated by the Company other than for Cause, then, subject to Executive executing and not revoking the Supplemental Separation Agreement, which must become effective and irrevocable no later than the sixtieth (60th) day following the Actual Termination Date (the “Supplemental Release Deadline”), Executive will receive the following consideration:

(a)If bonus amounts pursuant to the Company’s 2016 annual cash incentive arrangement have yet to be paid as of the Actual Termination Date, a lump sum payment, less applicable withholdings, equal to the bonus Executive would have otherwise received assuming he remained employed through the Expected Termination Date, which will be paid at the same time as bonuses are paid to other senior executives of the Company, but in no event prior to the date the Supplemental Release Agreement becomes effective and irrevocable;
(b)Except as provided herein, each of Executive’s equity awards will continue to be governed by the terms and conditions of the applicable Company equity plan under which the award was granted and applicable equity award agreement (each an “Equity Award Document”, and together, the “Equity Award Documents”).  The post-termination exercise period of Executive’s vested stock options will be extended such that Executive may exercise that portion of his stock options vested as of the Actual Termination Date through December 31, 2018; provided, however, in no event may the stock options be exercised following their maximum expiration date and the stock options will be subject to earlier termination in the event of certain corporate transactions as provided for in equity plan under which the stock options were granted.  This Retirement Agreement acts as an amendment to the Equity Award Documents and Executive acknowledges and agrees that the incentive stock option status and/or holding periods for favorable tax treatment of any stock options that were originally designated as incentive stock options pursuant to Section 422 of the Internal Revenue Code of 1986, as amended, may be impacted by the terms of this Retirement Agreement.  Executive’s stock options and the shares purchased thereunder will continue to be governed by the terms and conditions of the applicable Equity Award Document, as each has been modified by this Retirement Agreement.
(c)Notwithstanding anything to the contrary in Executive’s December 14, 2014 Restricted Stock Unit Award Agreement (the “Special Grant Agreement”), Executive will remain eligible to earn some or all of the restricted stock units subject to the Special Grant Agreement notwithstanding his termination of service prior to the “Period End Date”.  Thus, the Special Grant Agreement will be amended as follows: (i) remove the provision that if Executive ceases to be a “Service Provider” prior to the Period End Date or the “Anniversary Date” for any reason, the restricted stock units subject to the Special Grant Agreement will terminate and be cancelled; (ii) remove the requirement that Executive remain a continuous Service Provider through the Period End Date in order to remain a “Participant;” (iii) remove the requirement that time-based vesting is subject to Executive continuing to be a Service Provider through the applicable vesting date; (iv) remove the requirement that no restricted stock units subject to the Special Grant Agreement will vest unless Executive will have been continuously a Service Provider from the “Date of Grant” through the Period End Date; (v) the “Maximum Number of Restricted Stock Units” that may be earned pursuant to the terms of the Special Grant Agreement is decreased from 125,000 to 85,000; (vi) the “Target Number of Restricted Stock Units” that may be earned pursuant to the terms of the Special Grant Agreement is decreased from 62,500 to 42,500; and (vii) in case of a “Change in Control,” 100% of the “Eligible Restricted Stock Units” will vest on consummation of the Change in Control.  For clarity, each and all conditions relating to the calculation of Eligible Restricted Stock Units shall continue to apply except as modified herein.  The terms “Anniversary Date,” “Change in Control,” “Date of Grant,” Eligible Restricted Stock Units,” “Maximum Number of Restricted Stock Units,” “Participant,” “Period End Date,” “Service Provider,” and “Target Number of Restricted Stock Units” shall have the same respective meanings ascribed to them in the Special Grant Agreement.  Any vested restricted stock units subject to the Special Grant Agreement will be paid to Executive at the same time as similar restricted stock units are paid to other senior executives of the Company.  The restricted stock units subject to the Special Grant Agreement will continue to be governed by the terms of the conditions of the Special Grant Agreement, except as has been modified by this Termination Agreement.  This Retirement Agreement acts as an amendment to the Special Grant Agreement.
(d)If the Supplemental Separation Agreement does not become effective and irrevocable by the Supplemental Release Deadline, Executive will forfeit any right to severance payments or benefits under this Retirement Agreement.  In no event will severance payments or benefits be paid or provided until the Supplemental Separation Agreement actually becomes effective and irrevocable. Any severance payments that would have been made to Executive prior to the Supplemental Separation Agreement becoming effective and irrevocable will be paid to Executive no later than the first Company payroll date on or following the Supplemental Release Deadline and the remaining payments will be made as provided in this Retirement Agreement.  
(e)For avoidance of doubt, if Executive resigns from or otherwise voluntarily terminates his employment with the Company for any reason prior to the Expected Termination Date or if the Company terminates his employment for Cause prior to the Expected Termination Date, he will not be entitled to any severance payments pursuant to this Section 2 or otherwise.
(f)For purposes of this Retirement Agreement, “Cause” will mean (i) an act of material dishonesty made by Executive in connection with Executive’s carrying out his job responsibilities to Company intended to result in substantial personal enrichment of the Executive, (ii) Executive’s conviction of, or plea of nolo contendre to a felony which the Company’s Board of Directors (the “Board”) reasonably believes had or will have a material detrimental effect on the Company’s reputation or business, (iii) a willful act by the Executive which constitutes gross misconduct and which is injurious to the Company or its affiliates, (iv) Executive’s willful and material breach of this Agreement, including without limitation his intentional failure to perform his stated duties, and his continued failure to cure such breach to the reasonable satisfaction of the Board within 10 days 

following written notice of such breach to Executive from the Company, and (v) Executive’s material violation of a Company policy that results in a material detrimental effect on the Company’s reputation or business.
3.Salary & Other Compensation Acknowledgements.  Executive acknowledges and represents that the Company has paid Executive all salary, wages, bonuses, commissions and any and all other compensation and benefits (in cash, equity or otherwise) due to Executive through the date hereof, except for Executive’s accrued vacation, which will continue to remain outstanding and will be paid upon the Actual Termination Date.  For avoidance of doubt, nothing in this Section 3 is intended to reduce the payments the Company is required to pay Executive as provided under Sections 1 through 2 of this Agreement.
4.Release of Claims.  Executive hereby fully, forever, irrevocably and unconditionally releases and discharges the Company, its current and former officers, directors, stockholders, corporate affiliates, subsidiaries, insurers, parent companies, successors and assigns, agents and employees (each in their individual and corporate capacities) (hereinafter the “Released Parties”) from any and all claims, charges, complaints, demands, causes of action, liabilities, and expenses (including attorneys’ fees and costs), of every kind and nature that Executive ever had or now has against the Released Parties, including, but not limited to, all employment discrimination claims under Title VII of the Civil Rights Act of 1964, 42 U.S.C. § 2000e et seq., the Age Discrimination in Employment Act, the Americans With Disabilities Act of 1990, 42 U.S.C. § 12101 et seq., the Rehabilitation Act of 1973, 29 U.S.C. § 701 et seq., Family and Medical Leave Act, 29 U.S.C. § 2601 et seq., the California Fair Employment and Housing Act, Cal. Gov’t Code § 12900 et seq., the California Family Rights Act, Cal. Gov’t Code § 12945.2 and § 19702.3, the California Equal Pay Law, Cal. Labor Code § 1197.5 et seq., the California Unruh Civil Rights Act, Cal. Civil Code § 51 et seq. and the California Family and Medical Leave Law, Cal. Labor Code §§ 233, 7291.16 and 7291.2, all as amended, and all claims arising out of the Fair Credit Reporting Act, 15 U.S.C. § 1681 et seq. and the Employee Retirement Income Security Act of 1974 (“ERISA”), 29 U.S.C. § 1001 et seq., all as amended, and all common law claims including, but not limited to, actions in tort, defamation and breach of contract, including, but not limited to, any claim or damage arising out of Executive’s employment with and/or separation from the Company (including a claim for retaliation) under any common law theory or any federal, state or local statute or ordinance not expressly referenced above, and claims for wrongful discharge, breach of contract, breach of the covenant of good faith and fair dealing, violation of public policy, defamation, fraud, personal injury, and emotional distress; provided, however, that nothing in Retirement Agreement prevents Executive from bringing any claims relating to the validity of this Retirement Agreement, or from filing, cooperating with, or participating in any proceeding before the EEOC or a state Fair Employment Practices Agency (except that Executive acknowledges that he may not be able to recover any monetary benefits in connection with any such claim, charge or proceeding) or from bringing any rights or claims under the Age Discrimination in Employment Act of 1967 (29 U.S.C. § 621 et seq.) that may arise after the date this Retirement Agreement is signed.  The only exceptions to this release are any claim(s) Executive may have for:
		
	(a)
	unemployment benefits pursuant to the terms of applicable law (to the extent available to Executive under applicable law);

		
	(b)
	workers’ compensation insurance benefits pursuant to Division 4 of the California Labor Code or a comparable and applicable state law, under the terms of any worker’s compensation insurance policy or fund of the Company (for which Executive represents that he has reported all work-related injuries, if any, that Executive has suffered or sustained during his employment with the Company; 

		
	(c)
	continued participation in certain of the Company’s group health benefit plans pursuant to the terms and conditions of the federal law known as “COBRA,” if applicable, and/or any applicable state law counterpart to COBRA; 

		
	(d)
	any benefit entitlements vested as of the Actual Termination Date, pursuant to written terms of any applicable employee benefit plan sponsored by the Company;

		
	(e)
	indemnification protection under the Company’s Articles of Incorporation or Bylaws, pursuant to contract or applicable law; and

		
	(f)
	any claims that, as a matter of applicable law, are not waivable.

5.Waiver of Unknown Claims.  Executive understands and agrees that the claims released in Section 4 above include not only claims presently known to Executive, but also include all unknown or unanticipated claims, rights, demands, actions, obligations, liabilities, and causes of action of every kind and character that would otherwise come within the scope of the released claims as described in Section 4.  Executive understands that he may hereafter discover facts different from what he now believes to be true, which if known, could have materially affected this Retirement Agreement, but Executive nevertheless waives any claims or rights based on different or additional facts.  Executive knowingly and voluntarily waives any and all rights or benefits that he may now have, or in the future may have, under the terms of Section 1542 of the Civil Code of the State of California, which provides as follows:

A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH A CREDITOR DOES NOT KNOW OF OR SUSPECT TO EXIST IN HIS OR HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE WHICH IF KNOWN BY HIM OR HIS MUST HAVE MATERIALLY AFFECTED HIS OR HIS SETTLEMENT WITH THE DEBTOR.
6.Confidential Information and Non-Solicitation.  Executive acknowledges and reaffirms his obligation to keep confidential all non-public information concerning the Company that Executive acquired during the course of his employment with the Company, as stated more fully in the Proprietary Information and Inventions Agreement dated November 8, 1999 (the “Confidentiality Agreement”), which remains in full force and effect according to its terms.  Executive affirms his obligation to keep all Company Information confidential and not to disclose it to any third party in the future.  The Confidentiality Agreement is incorporated herein by this reference, and Executive agrees to continue to be bound by the terms of that Confidentiality Agreement.
7.Acknowledgments and Right to Revoke.  Executive acknowledges that he has been given twenty-one (21) days after receipt of this Retirement Agreement to consider this Retirement Agreement.  By signing this Retirement Agreement, Executive acknowledges that he was offered a period of at least twenty-one (21) days to consider the terms of this Retirement Agreement but, to the extent not taken, Executive chooses to waive this consideration period.  If Executive does not accept this Retirement Agreement within that time, it will become null and void.  Executive is advised to consult with an attorney prior to executing this Retirement Agreement.  Executive represents and agrees that he fully understands his right to discuss all aspects of this Retirement Agreement with his private attorney, that he has availed herself of this right, that he has carefully read and fully understands all of the provisions of this Retirement Agreement, and that he is voluntarily entering into this Retirement Agreement.  Executive understands and agrees that the waiver of rights contained in this Retirement Agreement is only an exchange for the consideration specified herein, and that he would not otherwise be entitled to such consideration. Once Executive has signed the Retirement Agreement, Executive can revoke his acceptance within seven (7) days by so notifying Adam Weiss, General Counsel, 1601 Cloverfield Blvd, Suite 600 South, Santa Monica, CA 90404.  This Retirement Agreement will become effective on the eighth day following Executive signing it (the “Effective Date”).  
8.Non-Disparagement.  Executive understands and agrees that he will not make any false, disparaging or derogatory statements to any media outlet, industry group, financial institution or current or former employee, consultant, client, customer of the Company or other person or entity regarding the Company or any of its directors, officers, employees, agents or representatives or about the Company’s business affairs and financial condition and the Company will instruct the members of the Board and its senior executives to not make any false, disparaging or derogatory statements to any media outlet, industry group, financial institution or current or former employee, consultant, client, customer of the Company or other person or entity regarding Executive.
9.Amendment.  This Retirement Agreement will be binding upon the parties and may not be modified in any manner, except by an instrument in writing of concurrent or subsequent date signed by duly authorized representatives of the Parties.  
10.Binding Agreement.  This Retirement Agreement is binding upon and will inure to the benefit of the Parties and their respective heirs, executors, administrators, agents, successors and assigns. 
11.Waiver of Rights.  No delay or omission by the Company in exercising any right under this Retirement Agreement will operate as a waiver of that or any other right.  A waiver or consent given by the Company on any one occasion will be effective only in that instance and will not be construed as a bar to or waiver of any right on any other occasion.
12.Severability.  If any provision in this Retirement Agreement is for any reason held to be unenforceable, it will not affect the enforceability of the remaining provisions and the remaining provisions will be enforced to the extent permitted by law.
13.Confidentiality.  Executive understands and agrees that as a condition for payment to Executive of the benefits herein described, the terms and contents of this Retirement Agreement, and the contents of the negotiations and discussions resulting in this Retirement Agreement, will be maintained as confidential by Executive, his spouse, his attorney or his accountant, and will not be disclosed except to the extent required by law or as otherwise agreed to in writing by the Company.
14.Nature of Agreement.  Executive understands and agrees that this Retirement Agreement is not intended, nor should it be construed at any time, to be an admission of liability or wrongdoing on the part of the Company.
15.Voluntary Assent.  Executive affirms that no other promises or agreements of any kind have been made to or with Executive by any person or entity whatsoever to cause Executive to sign this Retirement Agreement, and that Executive fully understands the meaning and intent of this Retirement Agreement.  Executive further states and represents that he has carefully read this Retirement Agreement, understands the contents herein, freely and voluntarily assents to all of the terms and conditions hereof, and signs his name of his own free act.

16.Applicable Law.  This Retirement Agreement will be interpreted and construed by the laws of the State of California, without regard to conflict of laws provisions.  
17.Attorneys’ Fees.  In the event of any dispute concerning this Retirement Agreement, the prevailing party will be entitled to recover its attorneys’ fees and costs, in addition to any other relief to which such party may be entitled.
18.Entire Agreement.  This Retirement Agreement contains and constitutes the entire understanding and agreement between the Parties with respect to Executive’s severance benefits and the settlement of claims against the Company and cancels all previous oral and written negotiations, agreements and commitments in connection therewith, including, but not limited to, Section 9 of the Employment Agreement.  Executive acknowledges and agrees that he is not entitled to receive any severance pursuant to the terms of his Employment Agreement.  Nothing in this Section, however, will modify, cancel or supersede Executive’s obligations set forth in Section 6 herein or the documents identified in Section 6.
19.Arbitration.  The Parties agree that any and all disputes arising out of the terms of this Retirement Agreement and their interpretation, and any of the matters released, will be subject to final and binding arbitration before the American Arbitration Association under its National Rules for the Resolution of Employment Disputes in Los Angeles County, California.  THE PARTIES HEREBY AGREE TO WAIVE THEIR RIGHT TO HAVE ANY DISPUTE BETWEEN THEM RESOLVED IN A COURT OF LAW BY A JUDGE OR JURY.  This Section will not prevent either party from seeking preliminary injunctive relief (or any other provisional remedy) under applicable law from any court having jurisdiction over their Parties and the subject matter of their dispute relating to their obligations under this Retirement Agreement or under the Confidentially Agreement before arbitration or while arbitration is pending.

IN WITNESS WHEREOF, the Parties have executed this Retirement Agreement on the respective dates set forth below.

Dated:  May 1, 2016                        By     /s/ Adam Miller                                           
                          Adam Miller
President & CEO
              
        
                                      Perry A. Wallack, an individual

Dated:  April 26, 2016                       By    /s/ Perry Wallack                                  
      

EXHIBIT A
SUPPLEMENTAL SEPARATION AGREEMENT
This Supplemental Separation Agreement (the “Supplemental Separation Agreement”) is entered into as of _____________________, by and between Cornerstone OnDemand, Inc. (the “Company”) and Perry Wallack (“Executive”) (collectively, the “Parties”).  Any terms capitalized and not specifically defined herein will have the meaning ascribed to them under the Retirement Agreement, dated ________________ (the “Retirement Agreement”).
WHEREAS, the Parties wish to resolve any and all disputes, claims, complaints, grievances, charges, actions, petitions, and demands that Executive may have against the Company and any of the Releasees, including, but not limited to, any and all claims arising out of or in any way related to Executive’s employment with and services to the Company, including, but not limited to, from the Effective Date of the Retirement Agreement through the Effective Date of this Supplemental Separation Agreement.
NOW, THEREFORE, in consideration of the mutual promises made herein, the Company and Executive hereby agree as follows:
1.Consideration.  The Company agrees to pay Executive, less applicable withholding, the severance described in Section 2 of the Retirement Agreement, pursuant to the terms and conditions thereof.
2.Acknowledgements and Agreements.  
a.Executive acknowledges and represents that the Company will have paid all salary, wages, bonuses, accrued vacation, commissions and any and all other benefits due to Executive as of the Effective Date of this Supplemental Separation Agreement.
b.Except as set forth in Section 2(b) of the Retirement Agreement, each of Executive’s equity awards will continue to be governed by the terms and conditions of the applicable Company equity plan under which the award was granted and applicable equity award agreement (each an “Equity Award Document”, and together, the “Equity Award Documents.”)
3.Release of Claims.  Executive agrees that the consideration described in Section 1 hereof represents consideration for both (A) Executive’s acknowledgements and agreements under Section 2 and (B) a release and waiver of any and all claims against the Company and any of the Releasees relating to his employment with the Company, including, but not limited to, from the Effective Date of the Retirement Agreement through the Effective Date of this Supplemental Separation Agreement, as well as any claims under any local ordinance or state or federal employment law, including laws prohibiting discrimination in employment on the basis of race, sex, age (in particular, any claim under the Age Discrimination in Employment Act), disability, national origin, or religion, as well as any claims for wrongful discharge, breach of contract, attorneys’ fees, costs, or any claims of amounts due for fees, commissions, stock options, expenses, salary, bonuses, profit sharing or fringe benefits.  Executive further acknowledges and agrees that the terms of Sections 4 and 5 of the Retirement Agreement will also apply to this Supplemental Separation Agreement and are hereby incorporated and extended through the Effective Date of this Supplemental Separation Agreement.
4.Confidential Information and Non-Solicitation.  Executive acknowledges and reaffirms his obligation to keep confidential all non-public information concerning the Company that Executive acquired during the course of his employment with the Company, as stated more fully in the Confidentiality Agreement Executive signed at the beginning of his employment, which remains in full force and effect.  Executive affirms his obligation to keep all Company Information confidential and not to disclose it to any third party in the future.  The Confidentiality Agreement is incorporated herein by this reference, and Executive agrees to continue to be bound by the terms of the Confidentiality Agreement.
5.Return of Company Property.  As part of Executive’s existing and continuing obligation to the Company, Executive agrees that Executive has returned to the Company, all Company Information, including files, records, computer access codes and instruction manuals, as well as any Company assets or equipment that Executive has in his possession or under his control.  Executive further agrees not to keep any copies of Company Information.  Executive confirms that he has returned to the Company in good working order all keys, files, records (and copies thereof), equipment (including, but not limited to, computer hardware, software and printers, wireless handheld devices, cellular phones and pagers), access or credit cards, Company identification, Company vehicles and any other Company-owned property in Executive’s possession or control and have left intact all electronic Company documents, including, but not limited to, those that Executive developed or helped to develop during his employment.  Executive further confirms that he has cancelled all accounts for his benefit, if any, in the Company’s name, including, but not limited to, credit cards, telephone charge cards, cellular phone and/or pager accounts and computer accounts.

6.Acknowledgments and Right to Revoke.  Executive acknowledges that he has been given twenty-one (21) days after receipt of this Supplemental Separation Agreement to consider this Supplemental Separation Agreement.  By signing this Supplemental Separation Agreement, Executive acknowledges that he was offered a period of at least twenty-one (21) days to consider the terms of this Supplemental Separation Agreement but, to the extent not taken, Executive choose to waive this consideration period.  If Executive does not accept this Supplemental Separation Agreement within that time, it will become null and void.  Executive is advised to consult with an attorney prior to executing this Supplemental Separation Agreement.  Executive represents and agrees that he fully understands his right to discuss all aspects of this Supplemental Separation Agreement with his private attorney, that he has availed herself of this right, that he has carefully read and fully understands all of the provisions of this Supplemental Separation Agreement, and that he is voluntarily entering into this Supplemental Separation Agreement.  Executive understands and agrees that the waiver of rights contained in this Supplemental Separation Agreement is only an exchange for the consideration specified herein, and that he would not otherwise be entitled to such consideration. Once Executive has signed the Supplemental Separation Agreement, Executive can revoke his acceptance within seven (7) days by so notifying Adam Weiss, General Counsel, 1601 Cloverfield Blvd, Suite 600 South, Santa Monica, CA 90404 This Supplemental Separation Agreement will become effective on the eighth day following Executive signing it (the “Effective Date”).
7.Entire Agreement.  This Supplemental Separation Agreement, the Equity Award Documents, the Retirement Agreement, and the Confidentiality Agreement, constitute the entire agreement and understanding between the Parties concerning the subject matter of this Supplemental Separation Agreement and all prior and contemporaneous representations, understandings, and agreements concerning the subject matter of this Supplemental Separation Agreement (other than the Confidentiality Agreement) have been superseded by the terms of this Supplemental Separation Agreement.  

IN WITNESS WHEREOF, the Parties have executed this Supplemental Separation Agreement on the respective dates set forth below.

Dated:  ____________                    By                                                                                      
                          Adam Miller
President & CEO
              
                                
                                      Perry A. Wallack, an individual

Dated:  ____________                    By

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00261-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00261-of-00352.parquet"}]]