Document:

Stock Option Agreement between Registrant and Martin W. Brauns

 Exhibit 10.02 
 Interwoven, Inc. 
 ID: 94-3221352 
 803 - 11th Avenue 
 Sunnyvale, CA 94089 
  
 Notice of Grant of Stock Options

 and Option Agreement 
  
 Option Number: 
 Plan: 99PL/NQ 
 ID: 
  
  
  
 Effective April 21, 2003, you have been granted a(n)
Non-Qualified Stock Option to buy 1,000,000 shares of Interwoven, Inc. (the Company) stock at $1.79 per share. 
  
 The total option price of the shares granted is $1,790,000. 
  
 Shares in each period will become fully vested on the date shown. 
  

	 Shares
	 	Vest Type	 	Full Vest	 	Expiration
	 1,000,000
	 	Monthly	 	3/21/2004	 	4/21/2013

  
  
  
  
  
  
  
 By your
signature and the Company’s signature below, you and the Company agree that these options are granted under and governed by the terms and conditions of the Company’s Stock Option Plan as amended and the Option Agreement, all of which are
attached and made a part of this document. 
  

	 Interwoven, Inc.
	 	 	 	 
				
	By:	 	 /s/    David M. Allen

	 	 	 	 Date

	 	 	 David M. Allen, CFO
	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 /s/    Martin Brauns

	 	 	 	 Date

	 Martin W. Brauns
	 	 	 	 	 	 

 INTERWOVEN, INC. 
  
 1999 EQUITY INCENTIVE PLAN 
  
 STOCK OPTION AGREEMENT 
  
 (Non-Standard) 
  
 For use only with Option number N991808 granted on April 21, 2003 
  
 1. Grant of Option. Interwoven, Inc. (the “Company”) hereby grants to Optionee an
option (this “Option”) to purchase up to the total number of shares of Common Stock of the Company set forth in the Notice of Grant (collectively, the “Shares”) at the exercise price set forth in the
Notice of Grant (the “Exercise Price”), subject to all of the terms and conditions of the Notice of Grant, this Stock Option Agreement (the “Agreement”) and the 1999 Equity Incentive Plan (the
“Plan”). If designated as an Incentive Stock Option in the Notice of Grant, the Option is intended to qualify as an “incentive stock option” (“ISO”) within the meaning of Section 422 of the
Internal Revenue Code of 1986, as amended (the “Code”), to the extent permitted under Code Section 422. Capitalized terms not defined herein shall have the meaning ascribed to them in the Plan. 
  
 2. Vesting; Exercise Period. 
  
 2.1 Vesting of Shares. The Option shall be exercisable as it vests,
unless otherwise indicated in the Notice of Grant. Subject to the terms and conditions of the Plan and the Agreement, the Option shall vest and become exercisable as to portions of the Shares pursuant to the vesting schedule specified in the Notice
of Grant, provided that Optionee has continuously provided services to the Company, or any Parent or Subsidiary of the Company, at all times during the relevant month. Notwithstanding the provisions of the preceding sentence, however, (A) in the
event of any Change in Control as defines in paragraph 3(d)(ii)(B) of that Employment Agreement dated as of February 27, 1998 between Optionee and the Company (“Employment Agreement”), provided that Optionee, if so requested
by the person(s) having control thereafter in his or their discretion, continues employment with the Company for a period of up to six months in such position as the Company may reasonably require following such Change in Control, or (B) in the
event that Optionee is terminated by the Company without Cause (as defined in Section 7 of the Employment Agreement) within three months prior to any Change in Control or during such longer time not to exceed six months as the Company is actively
negotiating or pursuing such Change in Control, or (C) in the event that Optionee is terminated by the Company without Cause or voluntarily terminates with Good Reason (as defined in Section 10 of the Employment Agreement) within twelve months after
any Change in Control as defined in Section 3(d)(ii)(A) of the Employment Agreement, then the Option shall fully and immediately vest and be exercisable wit respect to all of the Shares. 
  
 2.2 Vesting of Options. Shares that are vested pursuant to the vesting schedule set forth in the Notice of Grant, or
by application of the provisions of Section 2.1, are “Vested Shares.” Shares that are not vested pursuant to the schedule set forth in the Notice of Grant are “Unvested Shares.” 
  
 2.3 Expiration. The Option shall expire on the expiration date set
forth in the Notice of Grant, and must be exercised, if at all, on or before the earlier of the expiration date of the Option or the date on which the Option is earlier terminated in accordance with the provisions of Section 3 hereof. 

 3. Termination. 
  
 3.1 Termination for Any Reason Except Death, Disability or Cause. If Optionee is Terminated for any reason except
Optionee’s death, Disability or Cause, then the Option, to the extent (and only to the extent) that it is vested in accordance with the schedule set forth in the Notice of Grant on the Termination Date, may be exercised by Optionee no later
than three (3) months after the Termination Date, but in any event no later than the expiration date. 
  
 3.2 Termination Because of Death or Disability. If Optionee is Terminated because of death or Disability of Optionee (or the Optionee dies within
three (3) months after Termination other than for Cause or because of Disability), then the Option, to the extent that it is vested in accordance with the schedule in the Notice of Grant on the Termination Date, may be exercised by Optionee (or
Optionee’s legal representative or authorized assignee) no later than twelve (12) months after the Termination Date, but in any event no later than the expiration date. Any exercise after three months after the Termination Date when the
Termination is for any reason other than Optionee’s death or disability, within the meaning of Code Section 22(e)(3), shall be deemed to be the exercise of a nonqualified stock option. 
  
 3.3 Termination for Cause. If Optionee is Terminated for Cause, the
Option will expire on the Optionee’s date of Termination. 
  
 3.4 No Obligation to Employ. Nothing in the Plan or this Agreement shall confer on Optionee any right to continue in the employ of, or other relationship with, the Company or any Parent or Subsidiary of the Company, or limit in any
way the right of the Company or any Parent or Subsidiary of the Company to terminate Optionee’s employment or other relationship at any time, with or without Cause. 
  
 4. Manner of Exercise. 
  
 4.1 Stock Option Exercise Agreement. To exercise the Option, Optionee (or in the case of exercise after
Optionee’s death, Optionee’s executor, administrator, heir or legatee, as the case may be) must deliver to the Company an executed stock option exercise agreement in the form attached hereto as Exhibit A, or in such other form as
may be approved by the Company from time to time (the “Exercise Agreement”), which shall set forth, inter alia, Optionee’s election to exercise the Option, the number of shares being purchased, any
restrictions imposed on the Shares and any representations, warranties and agreements regarding Optionee’s investment intent and access to information as may be required by the Company to comply with applicable securities laws. If someone other
than Optionee exercises the Option, then such person must submit documentation reasonably acceptable to the Company that such person has the right to exercise the Option. 
  
 4.2 Limitations on Exercise. The Option may not be exercised unless such exercise is in compliance with all
applicable federal and state securities laws, as they are in effect on the date of exercise. 
  
 4.3 Payment. The Exercise Agreement shall be accompanied by full payment of the Exercise Price for the Shares being purchased in cash (by check), or where permitted by law: 
  

	 	(a)	 	by cancellation of indebtedness of the Company to the Optionee; 

  

	 	(b)	 	by surrender of shares of the Company’s Common Stock that either: (1) have been owned by Optionee for more than six (6) months and have been paid for within the meaning of

	 	 
SEC Rule 144 (and, if such shares were purchased from the Company by use of a promissory note, such note has been fully paid with respect to such shares); or
(2) were obtained by Optionee in the open public market; and (3) are clear of all liens, claims, encumbrances or security interests; 

  

	 	(c)	 	by waiver of compensation due or accrued to Optionee for services rendered; 

  

	 	(d)	 	provided that a public market for the Company’s stock exists: (1) through a “same day sale” commitment from Optionee and a broker-dealer that is a member of the
National Association of Securities Dealers (an “NASD Dealer”) whereby Optionee irrevocably elects to exercise this Option and to sell a portion of the Shares so purchased to pay for the Exercise Price and whereby the NASD
Dealer irrevocably commits upon receipt of such Shares to forward the exercise price directly to the Company; or (2) through a “margin” commitment from Optionee and an NASD Dealer whereby Optionee irrevocably elects to exercise this Option
and to pledge the Shares so purchased to the NASD Dealer in a margin account as security for a loan from the NASD Dealer in the amount of the Exercise Price, and whereby the NASD Dealer irrevocably commits upon receipt of such Shares to forward the
Exercise Price directly to the Company; or 

  

	 	(e)	 	by any combination of the foregoing. 

  
 4.4 Tax Withholding. Prior to the issuance of the Shares upon exercise of the Option, Optionee must pay or provide for any applicable federal or
state withholding obligations of the Company. If the Committee permits, Optionee may provide for payment of withholding taxes upon exercise of the Option by requesting that the Company retain Shares with a Fair Market Value equal to the minimum
amount of taxes required to be withheld. In such case, the Company shall issue the net number of Shares to the Optionee by deducting the Shares retained from the Shares issuable upon exercise. 
  
 4.5 Issuance of Shares. Provided that the Exercise Agreement and
payment are in form and substance satisfactory to counsel for the Company, the Company shall issue the Shares registered in the name of Optionee, Optionee’s authorized assignee, or Optionee’s legal representative, and shall deliver
certificates representing the Shares with the appropriate legends affixed thereto. 
  
 5. Notice of Disqualifying Disposition of ISO Shares. To the extent the Option is an ISO, if Optionee sells or otherwise disposes of any of the Shares acquired pursuant to the ISO on or before the later
of (a) the date two (2) years after the date of grant, and (b) the date one (1) year after transfer of such Shares to Optionee upon exercise of the Option, then Optionee shall immediately notify the Company in writing of such disposition.

  
 6. Compliance with Laws and Regulations. The
exercise of the Option and the issuance and transfer of Shares shall be subject to compliance by the Company and Optionee with all applicable requirements of federal and state securities laws and with all applicable requirements of any stock
exchange on which the Company’s Common Stock may be listed at the time of such issuance or transfer. Optionee understands that the Company is under no obligation to register or qualify the Shares with the SEC, any state securities commission or
any stock exchange to effect such compliance. 
  
 7.
Nontransferability of Option. Except as otherwise set forth in Section 11 of the Plan, the Option may not be transferred in any manner other than by will or by the laws of descent and distribution and may be exercised during the lifetime
of Optionee only by Optionee. The terms of the Option shall be binding upon the executors, administrators, successors and assigns of Optionee. 

 8. Tax Consequences. Set forth below is a brief summary as of the date the Board adopted
the Plan of some of the federal tax consequences of exercise of the Option and disposition of the Shares. THIS SUMMARY IS NECESSARILY INCOMPLETE, AND THE TAX LAWS AND REGULATIONS ARE SUBJECT TO CHANGE. OPTIONEE SHOULD CONSULT A TAX ADVISOR BEFORE
EXERCISING THE OPTION OR DISPOSING OF THE SHARES. 
  
 8.1
Exercise of Incentive Stock Option. To the extent the Option qualifies as an ISO, there will be no regular federal income tax liability upon the exercise of the Option, although the excess, if any, of the fair market value of the Shares on
the date of exercise over the Exercise Price will be treated as a tax preference item for federal income tax purposes and may subject the Optionee to the alternative minimum tax in the year of exercise. 
  
 8.2 Exercise of Nonqualified Stock Option. To the extent the Option
does not qualify as an ISO, there may be a regular federal income tax liability upon the exercise of the Option. Optionee will be treated as having received compensation income (taxable at ordinary income tax rates) equal to the excess, if any, of
the fair market value of the Shares on the date of exercise over the Exercise Price. The Company may be required to withhold from Optionee’s compensation or collect from Optionee and pay to the applicable taxing authorities an amount equal to a
percentage of this compensation income at the time of exercise. 
  
 8.3 Disposition of Shares. The following tax consequences may apply upon disposition of the Shares. 
  
 a. Incentive Stock Options. If the Shares are held for more than twelve (12) months after the date of the transfer of the Shares pursuant to the
exercise of an ISO and are disposed of more than two (2) years after the date of grant, any gain realized on disposition of the Shares will be treated as capital gain for federal income tax purposes. If Shares purchased under an ISO are disposed of
within the applicable one (1) year or two (2) year period, any gain realized on such disposition will be treated as compensation income (taxable at ordinary income rates) to the extent of the excess, if any, of the fair market value of the Shares on
the date of exercise over the Exercise Price. 
  
 b.
Nonqualified Stock Options. If the Shares are held for more than twelve (12) months after the date of the transfer of the Shares pursuant to the exercise of an NQSO, any gain realized on disposition of the Shares will be treated as long-term
capital gain. 
  
 c. Withholding. The Company may be
required to withhold from Participant’s compensation or collect from the Participant and pay to the applicable taxing authorities an amount equal to a percentage of the compensation income. 
  
 9. Privileges of Stock Ownership. Optionee shall not have any
of the rights of a stockholder with respect to any Shares until the Shares are issued to Optionee. 
  
 10. Interpretation. Any dispute regarding the interpretation of this Agreement shall be submitted by Optionee or the Company to the
Committee for review. The resolution of such a dispute by the Committee shall be final and binding on the Company and Optionee. 
  
 11. Entire Agreement. The Plan is incorporated herein by reference. This Agreement, the Notice of Grant, the Plan and the Exercise Agreement
constitute the entire agreement and understanding of the parties hereto with respect to the subject matter hereof and supersede all prior understandings and agreements with respect to such subject matter. 

 12. Notices. Any notice required to be given or delivered to the Company under the terms of
this Agreement shall be in writing and addressed to the Corporate Secretary of the Company at its principal corporate offices. Any notice required to be given or delivered to Optionee shall be in writing and addressed to Optionee at the address
indicated above or to such other address as such party may designate in writing from time to time to the Company. All notices shall be deemed to have been given or delivered upon: personal delivery; three (3) days after deposit in the United States
mail by certified or registered mail (return receipt requested); one (1) business day after deposit with any return receipt express courier (prepaid); or one (1) business day after transmission by facsimile. 
  
 13. Successors and Assigns. The Company may assign any of its
rights under this Agreement. This Agreement shall be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement shall be binding upon Optionee and
Optionee’s heirs, executors, administrators, legal representatives, successors and assigns. 
  
 14. Governing Law. This Agreement shall be governed by and construed in accordance with the internal laws of the State of California,
without regard to that body of law pertaining to choice of law or conflict of law. 
  

	 OPTIONEE:
	 	 	 	 	 	 INTERWOVEN, INC.

				
	 /s/    Martin W. Brauns

	 	 	 	By:	 	 /s/    David M. Allen

	 Martin W. Brauns
	 	 	 	 	 	 
				
	 Date:

	 	 	 	 	 	 Its: Senior Vice President and CFO

				
	 	 	 	 	 	 	 Date:

  
  
  

 EXHIBIT A 
  
 STOCK OPTION EXERCISE AGREEMENT 

 Exhibit A 
  
 INTERWOVEN, INC. 
 1999 EQUITY INCENTIVE PLAN (the “Plan”) 
 STOCK OPTION EXERCISE AGREEMENT

  
 I hereby elect to purchase the number of shares of Common
Stock of Interwoven, Inc. (the “Company”) as set forth below: 
  

	 Optionee

	 	 Number of Shares Purchased:

	 Social Security Number:

	 	 Purchase Price per Share:

	 Address:

	 	 Aggregate Purchase Price:

	  

	 	 Date of Option Agreement:

	  

	 	  

	 Type of Option:    [    ]  Incentive Stock Option
	 	 Exact Name of Title to Shares:

	                                [    ]  Nonqualified
Stock Option
	 	  

  
 1. Delivery of Purchase Price.
Optionee hereby delivers to the Company the Aggregate Purchase Price, to the extent permitted in the Stock Option Agreement (the “Option Agreement”) and Notice of Grant as follows (check as applicable and complete):

  

	[    ]	 	in cash (by check) in the amount of
$                            , receipt of which is acknowledged by the Company;

  

	[    ]	 	by cancellation of indebtedness of the Company to Optionee in the amount of
$                            ; 

  

	[    ]	 	by delivery of
                             fully-paid, nonassessable and vested shares of the Common Stock of the
Company owned by Optionee for at least six (6) months prior to the date hereof (and which have been paid for within the meaning of SEC Rule 144), or obtained by Optionee in the open public market, and owned free and clear of all liens, claims,
encumbrances or security interests, valued at the current Fair Market Value of
$                             per share; 

  

	[    ]	 	by the waiver hereby of compensation due or accrued to Optionee for services rendered in the amount of
$                            ; 

  

	[    ]	 	through a “same-day-sale” commitment, delivered herewith, from Optionee and the NASD Dealer named therein, in the amount of
$                            ; or 

  

	[    ]	 	through a “margin” commitment, delivered herewith from Optionee and the NASD Dealer named therein, in the amount of
$                            . 

  
 2. Tax Consequences. OPTIONEE UNDERSTANDS THAT OPTIONEE MAY SUFFER ADVERSE TAX
CONSEQUENCES AS A RESULT OF OPTIONEE’S PURCHASE OR DISPOSITION OF THE SHARES. OPTIONEE REPRESENTS THAT OPTIONEE HAS CONSULTED WITH ANY TAX CONSULTANT(S) OPTIONEE DEEMS ADVISABLE IN CONNECTION WITH THE PURCHASE OR DISPOSITION OF THE SHARES AND
THAT OPTIONEE IS NOT RELYING ON THE COMPANY FOR ANY TAX ADVICE. 
  
 3.
Entire Agreement. The Plan, Notice of Grant and Option Agreement are incorporated herein by reference. This Exercise Agreement, the Plan, Notice of Grant and the Option Agreement constitute the entire agreement and understanding of the parties
and supersede in their entirety all prior understandings and agreements of the Company and Optionee with respect to the subject matter hereof, and are governed by California law except for that body of law pertaining to choice of law or conflict of
law. 
  

	 Date:

	 	

	 	 	    Signature of Optionee

 Spousal Consent 
  
 I acknowledge that I have read the foregoing Stock Option Exercise Agreement (the “Agreement”) and
that I know its contents. I hereby consent to and approve all of the provisions of the Agreement, and agree that the shares of the Common Stock of Interwoven, Inc. purchased thereunder (the “Shares”) and any interest I may
have in such Shares are subject to all the provisions of the Agreement. I will take no action at any time to hinder operation of the Agreement on these Shares or any interest I may have in or to them. 
  
  
  

	
	 	 	 	 Date:

	Signature of Optionee’s Spouse	 	 	 	 
			
	
	 	 	 	 
	Spouse’s Name - Typed or Printed	 	 	 	 
			
	
	 	 	 	 
	Optionee’s Name - Typed or PrintedSeparation Agreement between Registrant and John Van Siclen

 Exhibit 10.03 
  
 March 31, 2003 
  
 John Van Siclen 
 c/o Interwoven, Inc. 
 803 West 11th Avenue. 
 Sunnyvale, CA 94089 
  
 Re:    Terms of Separation 
  
 Dear John: 
  
 This letter confirms the agreement (this “Agreement”) between you and Interwoven, Inc. (the “Company” or “Interwoven”) concerning the terms of
your separation and offers you the separation compensation described below in exchange for a release of claims. 
  
 1.    Resignation as an Officer and Board Member of the Company. You are resigning from your employment as President and Chief
Executive Officer of the Company effective as of the close of business on April 30, 2003 (the “Separation Date”). You are also resigning from the Company’s Board of Directors, effective as of March 31, 2003. Between
March 31, 2003 and April 30, 2003 you will be on a one month paid leave of absence. 
  
 2.    Obligations of the Company. 
  
 a.    Interwoven will timely pay you your current unpaid wages, based on your current base salary of $300,000 per year
(the “Base Salary”), and all other unpaid compensation and benefits (including accrued and unused vacation pay of 48 hours), as accrued through March 31, 2003 (less applicable withholding). 
  
 b.    In exchange for the release of
claims and other promises set forth in this Agreement and the attached Addendum A, Interwoven agrees to provide you with the following Separation Benefits: 
  
 (1)    Pay you an amount equal to eleven (11) months of your Base Salary (less
applicable withholding), on the Effective Date. You will not be paid a bonus for services during 2003. No vacation benefits will accrue beyond March 31, 2003. 
  

(2)    Provide you with all existing employee benefits (other than any new grants of stock options and Section
401(k) plan eligibility) at Interwoven’s expense, through November 30, 2003. Thereafter, you will be eligible to purchase independently the identical healthcare insurance coverage programs as required by the Consolidated Omnibus Budget
Reconciliation Act of 1985, as amended (“COBRA”) and any applicable state insurance laws. 
  
 (3)    Each stock option held by you as of the Separation Date (a) will vest as of the Effective Date to an additional
number of shares equal to the number of shares that would have become vested under such option if you were a full-time active employee through November 30, 2003, and (b) will remain exercisable until May 31, 2004. In addition, the double- 

 John Van Siclen 
 March 31, 2003 
  Page
 2
 
  

 
trigger vesting acceleration provisions of your recent options (which are referenced on attached Exhibit A) will remain effective through November 30, 2003.
Any of your options that are now ISOs will become nonqualified stock options as of the Effective Date. 
  
 (4)    The Company agrees to pay any and all of your reasonable legal expenses in conjunction with the review and
execution of this Separation Agreement and Addendum, not to exceed $2,500. 
  
 c.    You understand and acknowledge that you will not be entitled to any benefits or payments from Interwoven other than those expressly set forth in this Section 2. By signing below, you
acknowledge that you are receiving the compensation benefits specified in paragraph b. of this Section 2 in consideration for waiving your right to claims referred to in this Agreement, and that you would not otherwise be entitled to them.

  
 3.    Your Obligations. In exchange
for the Separation Benefits, you agree to the following: 
  
 a.    You agree to promptly provide Interwoven with any information you may have by virtue of the work previously performed by you for Interwoven, upon reasonable notice and request from Interwoven
through September 30, 2003, not to exceed eight (8) hours per month. 
  
 b.    You will be bound by and comply with the terms of the Employee Invention Assignment and Confidentiality Agreement (a copy of which is attached to this Agreement as Exhibit B). You will return
all Company property (unless otherwise agreed in writing) and all confidential and proprietary information in your possession to the Company on or before the Separation Date. You may retain as your personal property, your Interwoven-supplied laptop
computer and associated docking station. 
  
 c.    You will not solicit, initiate, or assist in any solicitation of any Interwoven employee to leave his/her employment with the Company to commence a relationship with you or any other employer through March 31,
2004. 
  
 4.    Release. In exchange
for the benefits described in Section 2(b), you agree to execute the release (the “Release”) attached to this Agreement as “Addendum A” on or promptly following the Separation Date. 
  
 5.    Arbitration. Any claim, dispute, or
controversy arising out of or in any way relating to this Agreement or the alleged breach of this Agreement will be submitted by the parties to binding arbitration in Santa Clara County, California by JAMS or by a judge to be mutually agreed upon.
This Section 5 will not prevent either party from seeking injunctive relief (or any other provisional remedy) from any court having jurisdiction over the parties and the subject matter of their dispute relating to your obligations under the
Invention Assignment and Confidentiality Agreement and your obligations under Section 3 hereof. 

 John Van Siclen 
 March 31, 2003 
  Page
 3
 
  

 6.    Attorneys’ Fees. The prevailing party will be entitled to
recover from the losing party its attorneys’ fees and costs (including expert witness fees) incurred in any arbitration, lawsuit or other proceeding brought to enforce any right arising out of this Agreement. 
  
 7.    Confidentiality; Non-disparagement. Each of
you and Interwoven agrees, on behalf of itself and its agents, not to disclose, and to take every reasonable precaution to prevent disclosure of, any of the terms of this Agreement (other than the fact of your resignation) or consideration for this
Agreement (the “Settlement Information”) to third parties, and agrees that there will be no publicity, directly or indirectly, concerning any Settlement Information except as required by law or applicable regulation. Prior to
any filing of this Agreement with the Securities and Exchange Commission, you and Interwoven each agree to take every reasonable precaution to disclose Settlement Information only to our respective attorneys, accountants, tax authorities, and your
spouse. You agree to refrain from disparagement of Interwoven or any of its employees, directors, products, or services to anyone, including other employees and any past, present, or prospective customers, in any manner likely to be harmful to them,
their business, or their business or personal reputations; Interwoven also agrees to refrain from disparagement of you, including in connection with any disclosure or reporting of your resignation, in any manner likely to be harmful to you, your
business, or your business or personal reputation. Interwoven agrees that if it is contacted by a potential employer of yours, it will provide a reference statement in such form as we mutually agree. All such contacts should be directed to me if for
the Board of Directors or to either Interwoven’s Chief Financial Officer or Vice President of Human Resources, if to the Company. Any dispute concerning this confidentiality and non-disparagement provision will be resolved through arbitration
before JAMS in Santa Clara County, California (the “Arbitrator”) pursuant to Section 5. 
  
 8.    No Admission of Liability. This Agreement is not and shall not be construed or contended by you to be an admission or
evidence of any wrongdoing or liability on the part of Interwoven, its agents, officers, directors, employees, subsidiaries, affiliates, successors or assigns. This Agreement shall be afforded the maximum protection allowable under California
Evidence Code Section 1152 and/or any other state or federal provisions of similar effect. 
  
 9.    No Knowledge of Wrongdoing. As of the date of this Agreement, you have no knowledge of any wrongdoing involving improper or false claims against a federal or state governmental or
regulatory agency, including listing agencies or exchange or other wrongdoing, that involves you or other present or former Interwoven employees, and Interwoven has no knowledge of any such wrongdoing involving you. 
  
 10.    Successors. In addition to you and
Interwoven, the provisions of this Agreement will extend and inure to the benefit of, and be binding upon, your legal successors and assigns and those of Interwoven. 
  
 11.    Integration. This Agreement constitutes the entire Agreement between Interwoven and you
with respect to your resignation and the compensation to be paid to you in connection therewith, and supersedes all prior negotiations and agreements, whether written or oral, with respect to such subject matter, with the exception of (a) your
obligations under the Invention Assignment and Confidentiality Agreement, and (b) the stock option agreements. In 

 John Van Siclen 
 March 31, 2003 
  Page
 4
 
  

 
addition, the Indemnity Agreement between you and Interwoven, and your right to defense and indemnification for acts as a director and officer of Interwoven
thereunder and under our bylaws and Certificate of Incorporation, will continue unaffected by this Agreement. 
  
 12.    No Oral Modification. This Agreement may not be altered or amended except by a written document executed by you and by
Interwoven. 
  
 13.    Governing Law.
This Agreement will in all respects be governed by the laws of the State of California as applied to agreements entered into and to be performed entirely within California between California residents. 
  
 14.    Review of Separation Agreement; Effective
Date. You understand that you may take up to twenty-one (21) days to consider this Agreement and, by signing below, affirm that you were advised to consult with an attorney prior to signing this Agreement. You also understand that you may revoke
this Agreement within seven (7) days of signing this document and that the compensation benefits described in Section 2(b) will only occur at the end of that seven (7) day revocation period. This Agreement is effective as of March 31, 2003; provided
that the Release, and Interwoven’s obligations pursuant to Section 2(b) above, shall become effective on the later of (i) May 1, 2003, and (ii) the eighth day after the Release has been signed by both parties (the “Effective
Date”), unless sooner revoked by you. If you desire to revoke the Release, you must deliver or cause to be delivered a written statement of revocation to Interwoven’s office and to my attention, prior to the Effective Date.

  
 15.    No Representations. Neither
party has relied upon any representations or statements made by the other party hereto which are not specifically set forth in this Agreement. 
  
 If the terms outlined in this Agreement are acceptable to you, please sign the attached copy of this letter and the Release and return them to me.

  
 Sincerely, 
  
 INTERWOVEN, INC. 
  
 /s/    Martin Brauns                               
                              
 By: Martin Brauns 
 Title: Chairman 
  
 I have read, understand and agree to the terms set
forth above: 
  
 /s/    John Van
Siclen                                 
 Signature 
  
 Date:    May 1,
2003                                 

 ADDENDUM A 
  

This General Release of Claims (the “Release”) is between John Van Siclen (“Employee”) and Interwoven,
Inc. (“Interwoven”), a Delaware corporation. 
  
 1.    Release. 
  
 a.      Except as set forth in paragraph d. below, Employee, on behalf of himself, his heirs, executors, administrators, successors and assigns, hereby fully and forever releases and discharges Interwoven and
its current, former and future parents, subsidiaries, affiliated companies, related entities, employee benefit plans (other than claims related to vested benefits under such plans), and their fiduciaries, predecessors, successors, agents, officers,
directors, shareholders, employees and assigns (collectively, the “Company”), and Interwoven, on behalf of itself and all persons included in Company, hereby fully and forever releases and discharges Employee and his heirs,
executors, administrators, successors, and assigns, from any and all claims, obligations, duties, causes of action, whether now known or unknown, suspected or unsuspected, that either of them may possess based upon or arising out of any matter,
cause, fact, thing, act, or omission whatsoever occurring or existing at any time prior to and including the date hereof (collectively, the “Released Matters”), including without limitation, 
  
 (1)    any and all claims relating to or
arising from Employee’s employment relationship with Interwoven and the termination of such relationship; 
  
 (2)    any and all claims relating to, or arising from, Employee’s right to purchase, or actual purchase of,
shares of stock of Interwoven, including, without limitation, any claims of fraud, misrepresentation, breach of fiduciary duty, breach of duty under applicable state corporate law, and securities fraud under any state or federal law; 
  
 (3)    any and all claims for wrongful
discharge of employment; termination in violation of public policy; discrimination; breach of contract, both express and implied; breach of a covenant of good faith and fair dealing, both express and implied; promissory estoppel; negligent or
intentional infliction of emotional distress; negligent or intentional misrepresentation; negligent or intentional interference with contract or prospective economic advantage; unfair business practices; defamation; libel; slander; negligence;
personal injury; assault; battery; invasion of privacy; false imprisonment; and conversion; 
  
 (4)    any and all claims for violation of any federal, state or municipal statute, including, but not limited to,
Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Age Discrimination in Employment Act of 1967, the Americans with Disabilities Act of 1990, the Fair Labor Standards Act, the Employee Retirement Income Security Act of
1974, the Worker Adjustment and Retraining Notification Act, Older Workers Benefit Protection Act, the California Fair Employment and Housing Act, and the California Labor Code section 201, et. seq.; 
  
 (5)    any and all claims for violation
of the federal, or any state, constitution; 
  
 (6)    any and all claims arising out of any other laws and regulations relating to employment or employment discrimination; 
  

 1 

 (7)    any and all claims for attorneys’ fees and costs except
as provided in this Release or in the Separation Agreement; and 
  
 (8)    any and all claims that either Employee or Interwoven may have against the other for any acts by either occurring at any time prior to the execution of this Release. 
  
 Each of the parties agrees that the foregoing enumeration of claims released is illustrative,
and the claims hereby released are in no way limited by the above recitation of specific claims, it being the intent of the parties to fully and completely release all claims whatsoever in any way relating to the Employee’s employment with
Interwoven and to the termination of such employment. This release does not extend to any obligations incurred under the Separation Agreement, nor shall it apply with respect to any claims described in paragraph d. below or any claims arising under
Employee’s existing rights to indemnification and defense pursuant to the Certificate of Incorporation and bylaws of Interwoven, and pursuant to Employee’s Indemnity Agreement, for acts as a director or officer of Interwoven. 

 
 b.    Employee and Interwoven each
represent that they have no lawsuits, claims or actions pending in their name, or on behalf of any other person or entity, against the other or any other person or entity referred to herein. Employee and Interwoven each also represent that they do
not currently intend to bring any claims on their own behalf against the other or any other person or entity referred to herein. 
  
 c.    Employee and Interwoven each acknowledge that by signing this Release they are expressly waiving any benefits of
Section 1542 of the Civil Code of the State of California, which states: 
  
 A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT
WITH THE DEBTOR. 
  
 Employee and Interwoven each expressly waives any right or
benefit which they have or may have under Section 1542 of the California Civil Code or any similar provision of the statutory or non-statutory law of any other jurisdiction, including Delaware. The parties acknowledge that in the future they may
discover claims or facts in addition to or different from those that they now know or believe to exist with respect to the subject matter of this Release, and that they intend to fully, finally, and forever settle all of the Released Matters in
exchange for the Separation Benefits. This Release will remain in effect as a full and complete release notwithstanding the discovery or existence of any additional claims or facts. 
  
 d.    Company’s release of Employee does not extend to claims arising out of (i)
any act of embezzlement, fraud, or dishonesty by Employee that resulted in financial benefit or personal enrichment for Employee or any related person or affiliated entity of Employee, or (ii) any misappropriation by Employee of a corporate
opportunity of Interwoven. 
  
 2.    Acknowledgment of Waiver of Claims under ADEA. Employee acknowledges that he is waiving and releasing any rights he may have under the Age Discrimination in 

  

 2 

 
Employment Act of 1967 (“ADEA”) and that this waiver and release is knowing and voluntary. This waiver and release does not apply to
any rights or claims that may arise under ADEA after the Effective Date of this Release, and does not prohibit Employee from exercising legal rights that are, as a matter of law, not subject to waiver. Employee acknowledges that the consideration
given for this Release is in addition to anything of value to which he was already entitled, and that he has received, or will receive, regardless of the execution of this Release, all wages owed to him together with any accrued but unused vacation
pay, less applicable withholding and deductions, earned through the Separation Date. Employee further acknowledges that he has been advised by this writing that: 
  
 a.    He should consult with an attorney prior to executing this Release;

  
 b.    He may take up
twenty-one (21) days to consider this Release, although Employee may accept the terms of this Release at any time within those 21 days; 
  
 c.    He has seven (7) days following the execution of this Release to revoke this Release; and 
  
 d.    This Release will not be effective
until the revocation period has expired. 
  
 EMPLOYEE’S ACCEPTANCE OF
RELEASE: 
  
 BEFORE SIGNING MY NAME TO THE RELEASE, EMPLOYEE STATES THE
FOLLOWING: I HAVE READ THE RELEASE, I UNDERSTAND IT AND I KNOW THAT I AM GIVING UP IMPORTANT RIGHTS. I HAVE OBTAINED SUFFICIENT INFORMATION TO INTELLIGENTLY EXERCISE MY OWN JUDGMENT. I HAVE BEEN ADVISED THAT I SHOULD CONSULT WITH AN ATTORNEY BEFORE
SIGNING IT, AND I HAVE SIGNED THE RELEASE KNOWINGLY AND VOLUNTARILY. 
  
 Date
delivered to Employee: April 30, 2003. 
  

	 Executed this 1st day of May, 2003.
	 	 	 	 INTERWOVEN, INC.

				
	 /s/ John Van Siclen

	 	 	 	By:	 	     /s/    Martin Brauns        

	 Employee’s Signature
	 	 	 	 	 	     Chairman

  

 3 

 EXHIBIT A 
  

	 Option Number

	 	 Stock Options Subject To Double-Trigger
Vesting Acceleration

	 	 Date of Grant

	 N991331
	 	100,000 shares	 	10/01/01
	 N991546
	 	300,000 shares	 	02/28/02
	 N991753
	 	700,000 shares	 	07/11/02

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