Document:

exv10w46

 

Exhibit 10.46

October 7,
2003

Christopher Nordquist

3875 17th Street

San Francisco, CA 94114

Re: Employment Terms

Dear Christopher:

On behalf of RedEnvelope (“Company”), I am very pleased to offer you the position of General
Counsel on the following terms.

You will report directly to the Chief Executive Officer, and will work in our San Francisco office.
The position of General Counsel is exempt from any overtime pay. Your primary duties in this
position will be to provide strategic direction and guidance in all legal and regulatory matters
for the Company, as well as managing Human Resources, Benefits and Administration. You will also be
responsible for any other projects or assignments as directed by the Chief Executive Officer. At
all times during employment with the Company, you will devote your full energies, abilities and
productive business time to the performance of your job for the Company and will not engage in any
activity that would in any way interfere or conflict with the full performance of any of your
duties for the Company.

You will
receive a salary of $9,615.00 on a bi-weekly basis ($250,000.00 annualized), less
applicable payroll deductions and all required withholdings, in accordance with the Company’s
regular payroll practices.

Commencing the month following your start date and while employed as a full-time employee on the
regular payroll of the Company, you will be eligible to participate in the Company’s standard
benefits package. You will also be eligible for the Company’s standard PTO and holiday benefits.
General information regarding the Company’s current benefit
plans is attached. The Company may
modify or cancel benefits from time to time as it deems appropriate in its sole discretion.

In addition, after hiring, we will recommend that the Board of Directors of the Company (“Board”)
grant you an option to purchase 40,000 shares of the Company’s common stock. The specific
characteristics, terms and conditions of the options mentioned above, including the strike price
and applicable vesting schedule, will be set forth in the option plan and grant documentation to
follow after approval by the Board.

Your employment with the Company is for no specified duration and may be terminated either by you
or the Company at any time and for any reason whatsoever, with or without cause or advance notice.
The Company also retains the right to make all other decisions concerning your employment (e.g.,
changes to your position, title, level, responsibilities, compensation, job duties, reporting
structure, work location, work schedule, goals or any other managerial decisions) at any time, with
or without cause or advance notice, as it deems appropriate in its sole discretion. This at-will
employment relationship cannot be changed except in writing

201 Spear Street Suite 300 San Francisco California 94105 www.RedEnvelope.com

 

 

Christopher Nordquist

October 7, 2003

Page 2

signed by you and the Company’s Chief Executive Officer. If the Company terminates your employment
without cause in exchange for you signing a general release of any all claims, the Company will pay
you six (6) months severance in the total amount of $124,995.00, less applicable payroll deductions
and all required withholdings. This severance amount will be paid in biweekly installments, less
applicable payroll deductions and all required withholdings, in accordance with the Company’s
regular payroll schedule, during the six calendar months following the termination of your
employment.

As used in this agreement, “cause” shall mean material nonperformance or misconduct in the
performance of your duties and responsibilities as an employee, following notice and a reasonable
opportunity to cure, indictment for a felony or another crime involving fraud or dishonesty, or
theft or misappropriation of assets of the Company having more than nominal value. In addition,
your resignation following a requirement that you relocate your principal place of work outside of
the San Francisco Bay Area shall be treated as an involuntary termination without cause under this
letter agreement.”

Your employment with the Company pursuant to this offer is contingent on you signing the Company’s
standard employee confidentiality and invention assignment agreement (attached) prior to your start
date, providing satisfactory proof of your right to work in the United States as required by law,
and on the Company’s verification of your qualifications, background, experience and references. If
employed, you will comply at all times with all Company policies, rules and procedures as they may
be established, stated and/or modified from time to time at the Company’s sole discretion.

Prior to your first day of work with the Company, you will have previously returned any
confidential, proprietary or trade secret information belonging to any prior employer and will not
use such information in your employment with the Company. You will also strictly adhere to the
terms of any lawful restrictive covenants entered into between you and any prior employers.

Except as specified below, to the fullest extent allowed by law, any and all disputes, claims or
controversies of any kind arising out of or related in any way to hiring, employment or the
termination of employment with the Company (including without limitation any statutory or common
law claims against the Company or any of its agents or employees) shall be fully and finally
resolved through binding arbitration, before a neutral arbitrator, pursuant to the California
Arbitration Act, California Code of Civil Procedure section 1280, et seq. You and the Company
therefore waive any right to a jury trial on any such claims or matters. Any arbitration between
the parties will be conducted before the American Arbitration Association (“AAA”) in San Francisco,
California, under the AAA’s then existing national rules for the resolution of employment disputes,
as modified in any respect necessary to comply with the requirements of California law for
enforcement of arbitration agreements regarding employment-related disputes. This arbitration
provision shall not apply to any claims for injunctive or other similar equitable relief. Before
commencing any arbitration proceedings, any dispute between you and the Company or any of its
agents or employees shall first be submitted, in writing, to the Company’s Human Resource Officer
(or if none, to the head of Finance & Accounting) for a good faith attempt at resolution.

Christopher Nordquist Offer

 

 

Christopher Nordquist

October 7, 2003

Page 3

This letter sets forth the entire agreement between you and the Company on the terms of your
employment with the Company and supersedes any prior representations, understandings, promises or
agreements, whether oral or written, by anyone regarding employment with the Company. The
employment terms in this letter may only be modified in a writing signed by both you and the
Company’s Chief Executive Officer.

If you wish to accept employment with the Company under the terms described above, please sign and
date this letter and return it to me by 5:00 p.m. PST on October 22, 2003. If you accept our offer,
we would like you to start with us on October 31, 2003 or as soon thereafter as possible.

Christopher,
we are excited for you to join our team and look forward to working
with you.

Sincerely,

RedEnvelope,
Inc.

	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Alison L. May	 	 	 	 	 	 
	 

	 	 

	 	 	 	 	 	 
	Title:
	 	Pres & CEO	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	ACCEPTED AND AGREED:	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	CHRISTOPHER NORDQUIST	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ Christopher Nordquist	 	 	 	10/16/03
	 	 	 	 	 	 	 
	Signature	 	 	 	 	 	Date

Christopher Nordquist Offerexv10w56

 

Exhibit 10.56

SEPARATION AGREEMENT AND GENERAL RELEASE

     This Separation Agreement and General Release (“Agreement”) is made and entered into by and
between Kristine Dang (hereinafter referred to as “Employee”) and RedEnvelope Inc., its
predecessors, successors, subsidiaries, related companies and affiliates (hereinafter referred to
as the “Company”).

     The Company and the Employee have agreed to terminate their employment relationship effective
January 23, 2006 (the “Separation Date”);

     The Employee does not have pending against the Company or any employee, agent, official, or
director of the Company any claim, charge, or action in or with any federal, state, or local court
or administrative agency; and

     The Employee wishes to receive the separation pay provided under this Agreement, receipt of
which is expressly conditioned upon execution of this Release.

     NOW, THEREFORE, in consideration of the mutual covenants and promises contained in this
document, the payment of the separation pay under this Agreement, and in an effort to avoid
unnecessary lawsuits, it is hereby agreed by and between the parties as follows:

     1. Separation Pay and Benefits. Provided the Employee signs and returns this Agreement AFTER
January 23, 2006, but in any event no later than January 31, 2006, the Company will provide the
Employee Separation pay and benefits as follows:

     (a) $137,500, less required withholding and authorized deductions, representing six (6) months
salary to be paid in a lump sum within fourteen (14) days after the Employee signs and returns this
Agreement;

     (b) provided the Employee is eligible for COBRA and makes a timely election of COBRA, the
Company will reimburse her for COBRA benefits until she obtains alternative employment, for a
period not to exceed six (6) months;

     (c) the Employee may retain her Company-provided laptop and printer, and the Employee
acknowledges that she must make the laptop available to the Company before any payments will be
made under this Agreement;

     (d) the Employee will be paid all accrued and unused PTO; in addition, the Employee will be
paid her unused personal days for 2006; and

     (e) the Company agrees to recommend to the Compensation Committee that the Employee be given
one year from the date of her resignation to exercise her stock options.

     The Employee agrees that the foregoing compensation and benefits constitutes the entire amount
of monetary consideration provided to the Employee under this Agreement and that the Employee will
not seek any further compensation for any other claimed damage, costs, or attorneys’ fees in
connection with the matters encompassed in this Agreement.

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     2. Non-Admission. This Agreement and compliance with this Agreement shall not be construed as
an admission by the Company of any liability whatsoever, or as an admission by the Company of any
violation of the rights of Employee or any person, violation of any order, law, statute, duty, or
contract whatsoever against the Employee or any person. The Company specifically disclaims any
liability to the Employee or any other person for any alleged violation of the rights of the
Employee or any person, or for any alleged violation of any order, law, statute, duty, or contract
on the part of the Company, its employees or agents or related companies or their employees or
agents.

     3. Compensation And Benefits. Employee acknowledges and agrees that she has received all
compensation, benefits, payments and reimbursements due to her by the Company, except for those
specifically provided for in this Agreement and yet to be paid as set forth above.

     4. Employee’s Representations. The Employee represents that she has not filed any complaints,
claims, or actions against the Company, its officers, agents, directors, supervisors, employees, or
representatives with any state, federal, or local agency or court and that the Employee will not do
so at any time hereafter (either on her account or as a member of a class) and that if any agency
or court assumes jurisdiction of any complaint, claim, or action (including, without limitation,
any class action) against the Company or its affiliated companies or any of their officers, agents,
directors, supervisors, employees, or representatives on behalf of the Employee, the Employee will
direct that agency or court to withdraw from or dismiss with prejudice the matter as to any claim
made by her or on her behalf.

     5. Cooperation. The Employee shall make herself available to the Company in order to respond
to reasonable requests for information pertaining to the Company. The Employee shall cooperate
fully in connection with any and all existing or future litigations or investigations brought by or
against the Company or any of its agents, officers, directors, or employees in which and to the
extent Employee’s cooperation is necessary. In the event that Employee is subpoenaed in connection
with any litigation or investigation, if legally permissible, Employee will promptly notify the
Company and shall give the Company an opportunity to respond to such notice before taking any
action or making any decision in connection with such subpoena. The Company will reimburse the
Employee for reasonable out-of-pocket expenses incurred as a result of such cooperation.

     6. Waiver and Release. The Employee agrees that all rights under section 1542 of the Civil
Code of the State of California are waived by the Employee. Section 1542 provides as follows:

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.

     Notwithstanding the provisions of section 1542 of the Civil Code of the State of California,
the Employee hereby irrevocably and unconditionally releases and forever discharges the Company and
all of its past, present and future shareholders, directors, officers, employees, independent
contractors, agents, divisions, subsidiaries, related companies, affiliates and assigns and all
persons acting by, through, under, or in concert with any of them from any and all charges,
complaints, claims, and liabilities of any kind or nature whatsoever, known or unknown,

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suspected or unsuspected (hereinafter referred to as “claim” or “claims”) which the Employee
at any time heretofore had or claimed to have or which the Employee may have or claim to have
regarding events that have occurred as of the date of this Agreement, including, without
limitation, any and all claims related or in any manner incidental to the Employee’s employment
with the Company or the separation therefrom.

     The parties understand the word “claims” to include all actions, claims, and grievances,
whether actual or potential, known or unknown, and specifically but not exclusively all claims
arising out of the Employee’s employment with the Company and the Employee’s separation from the
Company. All such claims (including related attorneys’ fees and costs) are forever barred by this
Agreement regardless of whether those claims are based on any alleged breach of a duty arising in a
statute, contract, or tort; any alleged unlawful act, including, without limitation, discrimination
or harassment of any kind (including, without limitation: age, race, sex, national origin, marital
status, religion, sexual orientation or preference, veteran’s preference, disability); any other
claim or cause of action; and regardless of the forum in which it might be brought.

     By signing this Separation Agreement and General Release, the Employee agrees that she will
not pursue any claim covered by this Release. If the Employee breaks this promise, the Employee
agrees to pay the Company’s costs and expenses (including reasonable attorneys’ fees) related to
the defense of any claims. The Employee should also understand that nothing in this release
prevents the Employee from filing a charge or complaint with, or from participating in an
investigation or proceeding conducted by the EEOC or any state or local agency which can act as a
referral agency for the EEOC.

     7. Protective Agreements. The parties desire to provide for the protection of the business,
goodwill, confidential, trade secret and/or other proprietary information of the Company. The
Employee acknowledges that she will comply with the terms of her Confidential Information and
Invention Assignment Agreement, dated February 26, 1999, which is attached hereto and incorporated
herein by reference. Specifically, Employee agrees to the following:

     (a) Property of the Company. The Employee shall return to the Company by close of
business no later than her Separation Date any and all Company property in her possession,
including but not limited to Company cell phone, PDA, keys, building passes, credit cards,
documents, files, and software, and all written information pertaining to the Company’s business.
The Employee represents and warrants that, other than her Company laptop and printer, she has not
and will not retain any property of the Company of any nature.

     (b) Non-Disparagement. The Employee agrees that she shall not at any time engage in
any form of conduct, nor make any statements or representations, that disparage or otherwise impair
the reputation, goodwill or interests of the Company, its agents, officers, directors or employees.
All inquiries by potential future employers of Employee will be directed to the HR Director of the
Company. Upon inquiry, the Company shall only state the following: Employee’s last position and
dates of employment. Notwithstanding the foregoing, Employee shall be free to use any current or
former employee or Board member of the Company as a personal reference.

     (c) Confidential Information. The Employee acknowledges that she has had access to
confidential and proprietary information. The Employee acknowledges and agrees that she will not,
at any time without the prior written authorization of the Chief Executive Officer of

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the Company, directly or indirectly use, divulge, furnish or make accessible to any person any
confidential or proprietary information, but instead shall keep all such information strictly and
absolutely confidential. Further, the Employee shall, by her Separation Date, return to the
Company all confidential and proprietary information in her possession. Nothing contained in this
paragraph shall be construed as a non-competition agreement; however, this confidentiality
agreement applies to any and all of the Employee’s activities with respect to prospective or actual
employers and in the case of self-employment.

     8. Representations. The parties acknowledge that they do not rely and have not relied upon
any representation or statement made by any of the parties other than those specifically stated in
this written Agreement.

     9. Successors. This Agreement shall be binding upon the parties hereto and upon their heirs,
administrators, representatives, executors, successors, and assigns, and shall inure to the benefit
of said parties and each of them and to their heirs, administrators, representatives, executors,
successors and assigns. The Employee expressly warrants that the Employee has not transferred to
any person or entity any rights, causes of action, or claims released in this Agreement.

     10. Severability. Should any provision of this Agreement be declared or be determined by an
arbitrator or any court of competent jurisdiction to be wholly or partially illegal, invalid, or
unenforceable, the legality, validity, and enforceability of the remaining parts, terms, or
provisions shall not be affected thereby, and said illegal, unenforceable, or invalid part, term,
or provision shall be deemed not to be a part of this Agreement.

     11. Entire Agreement. This Agreement sets forth the entire agreement between the parties
hereto and fully supersedes any and all prior agreements or understandings, written or oral,
between the parties hereto pertaining to the subject matter hereof.

     12. Controlling Law. This Agreement shall in all respects be governed and construed in
accordance with the laws of the State of California.

     13. Interpretation. This Agreement shall be interpreted in accordance with the plain meaning
of its terms and not strictly for or against any of the parties hereto.

     14. Amendment. Any amendment to this Agreement shall be made in writing and signed by the
parties hereto. No oral amendment shall be enforceable by either party.

     15. Waiver. No claim or right arising out of a breach or default under this Agreement can be
discharged by a waiver of that claim or right unless the waiver is in writing and signed by the
party hereto to be bound by such waiver. A waiver by either party hereto of a breach or default by
the other party of any provision of this Agreement shall not be deemed a waiver of future
compliance therewith and such Agreement in its entirety shall remain in full force and effect.

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     16. Counterpart Execution. This Agreement may be executed in counterparts and such
counterparts when taken together shall constitute one agreement.

	 	 	 	 	 
	EMPLOYEE	 	REDENVELOPE INC.
	 
	 	 	 	 
	/s/ Kristine Dang	 	By: /s/ Alison L. May
	 	 	 
	Kristine Dang	 	 
	 
	 	 	 	 
	Date:

	 	1/23/06
	 	Date: January 23, 2006
	 

	 	 	 	 

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