Document:

Offer of Employment - Heather J. Brunner

 Exhibit 10.14 
 

 
 July 7, 2008 
 Heather Brunner 
 [***] 
 [***] 
 RE: Offer of Employment 

Dear Heather: 
 On behalf of
Bazaarvoice, Inc. (the “Company”), I am pleased to invite you to join the Company as Senior Vice President of Worldwide Client Services reporting to me as our President and CEO. In this position, you will be expected to devote your
full business time, attention and energies to the performance of your duties with the Company. If you accept our offer of employment by complying with the instructions set forth in the last paragraph of this offer, your first day of employment will
be on or before September 1, 2008. The terms of this offer of employment are as follows: 
 1. At-Will Employment.
You should be aware that your employment with the Company is for no specified period and constitutes “at-will” employment. As a result, you are free to terminate your employment at any time, for any reason or for no reason. Similarly, the
Company is free to terminate your employment at any time, for any reason or for no reason. 
 2. Compensation. The
Company will pay you a base salary at a rate of $18,333.33 per month (annualized to $220,000.00 per year) in accordance with the Company’s standard payroll policies, including compliance with applicable withholding requirements. In addition to
your base salary, you will be eligible to participate in an annual bonus plan, which is targeted at $80,000 at 100% achievement of your plan goals. 50% of your plan goals will be based on Client Services departmental goals and 50% will be based on
company goals. The Company will present you the details of the plan by September 15, 2008. The bonus will be paid out in June or July, following our audit and GAAP certification of our fiscal year books, with the exception of the first
year of your employment, where your annual bonus will be pro-rated for a December 31, 2008 payment as a draw against your annual bonus (i.e., you will be paid a guaranteed bonus of $26,666.67 on December 31, 2008 and your first annual
bonus will be deducted by that amount and based on the aforementioned company and client services goals). The first and last payment by the Company to you will be adjusted, if necessary, to reflect a commencement or termination date other than the
first or last working day of a pay period. 
 3. Stock Ownership. Subject to approval by the Company’s Board of
Directors, you will be granted an option under the Company’s 2005 Stock Plan to purchase 502,539 shares of the Company’s common stock at a price per share equal to the fair market value of the common stock on

 
the date upon which the Board of Directors approves the option grant. We will recommend that the Company’s Board of Directors set your vesting schedule with respect to such option as
follows: One-fourth (1/4th) of the shares subject to the option will vest on the first anniversary of your employment with the Company and an additional one forty-eighth (1/48th) of the total number of such shares will vest each month
thereafter, subject to your continued employment with the Company on any such date. In addition, in the event of your Termination Upon Change of Control (as defined in Exhibit A attached hereto), one-half (50%) of your
unvested options shall immediately vest. 
 4. Benefits. During the term of your employment, you will be entitled to the
Company’s standard vacation and benefits covering employees at your level, as such may be in effect from time to time. 

5. Immigration Laws. For purposes of federal immigration laws, you will be required to provide to the Company documentary evidence
of your identity and eligibility for employment in the United States. Such documentation must be provided within three business days of the effective date of your employment, or your employment relationship with the Company may be terminated.

 6. Prior Employment Relationships; Conflicting Obligations. If you have not already done so, we request that you
disclose to the Company any and all agreements relating to your prior employment that may affect your eligibility to be employed by the Company or limit the manner in which you may be employed. It is the Company’s understanding that any such
agreements will not prevent you from performing the duties of your position and you represent that such is the case. Moreover, you agree that, during the term of your employment with the Company, you will not engage in any other employment,
occupation, consulting or other business activity directly related to the business in which the Company is now involved or becomes involved during the term of your employment, nor will you engage in any other activities that conflict with your
obligations to the Company. Similarly, you agree not to bring any third party confidential information to the Company, including that of your former employer, and that in performing your duties for the Company you will not in any way utilize any
such information. 
 7. Employee Proprietary Information Agreement. As a condition of this offer of employment, you will
be required on your first day of employment to complete and sign the Company’s standard form of Employee Proprietary Information Agreement (the “EPIA”) attached hereto as Exhibit B. 

8. General. This offer letter, the EPIA and the Stock Option Agreement covering the shares described in paragraph 3, when signed
by you, set forth the terms of your employment with the Company and supersede any and all prior representations and agreements, whether written or oral. In the event of a conflict between the terms and provisions of this offer letter, on the one
hand, and the EPIA and the Stock Option Agreement, on the other hand, the terms and provisions of the EPIA and the Stock Option Agreement will control. Any amendment of this offer letter or any waiver of a right under this offer letter must be in a
writing signed by you and an officer of the Company. This offer letter will be governed by Texas law without giving effect to its conflict of law principles. 

  
 -2-

 9. Background Check; Contingencies. This offer of employment is contingent upon the
satisfactory completion of background screens to be performed by the Company and/or independent contractors of the Company. If such checks fail to satisfy the Company’s requirements for employees at your level, this offer of employment shall be
rescinded. 
 We look forward to you joining the Company. If the foregoing terms are agreeable, please indicate your acceptance
by signing this offer letter in the space provided below and returning it to me not later than July 7, 2008. 
  

			
	Sincerely,
	
	BAZAARVOICE, INC.
		
	By:	 	 /s/ Brett A. Hurt

		 	Brett A. Hurt
		 	CEO

 Agreed and Accepted: 
  

			
	Signature:	 	 /s/ Heather J. Brunner

			
		
	Date:	 	 July 7, 2008

  
 -3-

 EXHIBIT A 

1. “Termination Upon Change of Control” means any termination of your employment by the Company without Cause during the period
commencing on or after the date that the Company has signed a definitive agreement or that the Company’s board of directors has endorsed a tender offer for the Company’s stock that in either case when consummated would result in a Change
of Control (even though consummation is subject to approval or requisite tender by the Company’s stockholders and other conditions and contingencies) and ending at the earlier of the date on which such definitive agreement or tender offer has
been terminated without a Change of Control or on the date which is twelve (12) months following the consummation of any transaction or series of transactions that results in a Change of Control. 

2. “Cause” means (a) your willful and continued failure to perform substantially your duties with the Company or
(b) the willful engaging by you in illegal conduct or gross misconduct which is injurious to the Company. 
 3.
“Change of Control” means (a) any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), other than a trustee or other fiduciary
holding securities of the Company under an employee benefit plan of the Company, becomes the “beneficial owner” (as defined in Rule 13d-3 promulgated under the Exchange Act), directly or indirectly, of securities of the Company
representing 50% or more of (A) the outstanding shares of common stock of the Company or (B) the combined voting power of the Company’s then-outstanding securities; (b) the Company is party to a merger or consolidation, or series
of related transactions, which results in the voting securities of the Company outstanding immediately prior thereto failing to continue to represent (either by remaining outstanding or by being converted into voting securities of the surviving or
another entity) at least fifty (50%) percent of the combined voting power of the voting securities of the Company or such surviving or other entity outstanding immediately after such merger or consolidation; (c) the sale or disposition of
all or substantially all of the Company’s assets (or consummation of any transaction, or series of related transactions, having similar effect), unless at least fifty (50%) percent of the combined voting power of the voting securities of
the entity acquiring those assets is held by persons who held the voting securities of the Company immediate prior to such transaction or series of transactions; (d) the dissolution or liquidation of the Company, unless after such liquidation
or dissolution all or substantially all of the assets of the Company are held in an entity at least fifty (50%) percent of the combined voting power of the voting securities of which is held by persons who held the voting securities of the
Company immediately prior to such liquidation or dissolution; or (f) any transaction or series of related transactions that has the substantial effect of any one or more of the foregoing. 

 EXHIBIT B 

EMPLOYEE PROPRIETARY INFORMATION AGREEMENTAmendment to Offer of Employment

 Exhibit 10.15 

 
 STRICTLY PRIVATE 

 

	To:	 	Heather Brunner 

	From:	 	Brett Hurt 

	Date:	 	June 30, 2010 

	Subject:	 	Amendment to Offer Letter 

  

Bazaarvoice, Inc. (the “Company”) wishes to increase flexibility in the annual bonus plan for members of its executive team. Doing so will
require the amendment of relevant provisions from individual offer letters. As such, the Company proposes the following: 
  

Your July 7, 2008 offer letter (the “Offer Letter”) provides in part: 

 
 “In addition to your base salary, you will be
eligible to participate in an annual bonus plan, which is targeted at $80,000 at 100% achievement of your plan goals. 50% of your plan goals will be based on Client Services departmental goals and 50% will be based on company goals. The Company will
present you the details of the plan by September 15, 2008. The bonus will be paid out in June or July, following our audit and GAAP certification of our fiscal year books, with the exception of the first year of your employment, where your
annual bonus will be pro-rated for a December 31, 2008 payment as a draw against your annual bonus (i.e., you will be paid a guaranteed bonus of $26,666.67 on December 31, 2008 and your first annual bonus will be deducted by that amount
and based on the aforementioned company and client services goals).” 
  
 The above language from your Offer Letter is hereby deleted and replaced with the following verbage, thereby amending your Offer Letter to hereinafter read as follows: 

 
 “In addition to your base salary, you will be
eligible to participate in an annual executive bonus plan adopted each fiscal year that sets your target bonus amount to be paid upon achievement of defined goals for the company and you.” 

 
 I accept and agree to the above amendment to my offer letter recognizing that
such flexibility has the potential to work to my personal advantage, and I hereby waive any rights I may have under the language replaced by this amendment. 
  

EMPLOYEE: /s/ Heather J. Brunner 
  

 

					
	 Name
	  		 	Heather J. Brunner
	 Date:
	  		 	 7/1/2010

	
	  

BAZAARVOICE, INC.

	
	 /s/ Brett A. Hurt

	 By:  Brett A. Hurt, CEO

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