Document:

Separation Agreement by and btw Chordiant Software and Michael J Shannahan

 Exhibit 10.29 
  
 August 16, 2004 
  
 Michael Shannahan 
 Chordiant Software, Inc. 
 20400 Stevens Creek Blvd. 
 Suite 400 
 Cupertino, CA 95014 
  

	Re:	Separation Agreement 

  
 Dear Mike: 
  
 This letter sets forth the
substance of the separation agreement (the “Agreement”) that Chordiant Software, Inc. (the “Company”) is offering to you to aid in your employment transition. 
  
 1. Separation. Your last day of work with the Company and your employment termination date will be August 18,
2004 (the “Separation Date”). 
  
 2. Accrued
Salary and Vacation. On the Separation Date, the Company will pay you all accrued salary, subject to standard payroll deductions and withholdings. You are entitled to these payments regardless of whether or not you sign this Agreement.

  
 3. Severance Benefits. Although the Company has
no policy or procedure for providing severance benefits, the Company will make severance payments to you in the form of continuation of your base salary in effect on the Separation Date for five (5) months following the Separation Date
(“Severance Payments”). If at the end of this five (5) month period, and despite your best efforts to locate an alternative position, you do not have a position as an employee or independent contractor that provides you with any
compensation for your services, then you will receive an additional one (1) month continuation of your base salary. You agree to notify the Company immediately, in writing, if you accept any employment or independent contractor arrangement that
provides you with such payment. Severance Payments will be made on the Company’s ordinary payroll dates, and will be subject to standard payroll deductions and withholdings. 
  
 4. Health Insurance. To the extent provided by the federal COBRA law or, if applicable, state insurance laws,
and by the Company’s current group health insurance policies, you will be eligible to continue your group health insurance benefits at your own expense. Later, you may be able to convert to an individual policy through the provider of the
Company’s health insurance, if you wish. If you timely elect continued coverage under COBRA, the Company, as part of this Agreement, will pay the COBRA premiums necessary to continue your current health insurance benefits for a period of five
(5) months after the Separation Date. 
  

 Michael Shannahan 
 August 16, 2004 
 Page 2 of 5 
  

 5. Stock Options. You were granted an option to purchase shares of the Company’s
common stock pursuant to the Company’s 1999 Equity Incentive Plan (the “Plan”). Under the terms of the Plan and your stock option grant, vesting will cease as of the Separation Date. As of the Separation Date, none of your options
will have vested. 
  
 6. Other Compensation or
Benefits. You acknowledge that, except as expressly provided in this Agreement, you will not receive any additional compensation, severance or benefits after the Separation Date. 
  
 7. Expense Reimbursements. You agree that, within ten (10) days of the Separation Date, you will submit your
final documented expense reimbursement statement reflecting all business expenses you incurred through the Separation Date, if any, for which you seek reimbursement. The Company will reimburse you for these expenses pursuant to its regular business
practice. 
  
 8. Return of Company Property. Within
five (5) days of the Separation Date, you agree to return to the Company all Company documents (and all copies thereof) and other Company property that you have had in your possession at any time, including, but not limited to, Company files, notes,
drawings, records, business plans and forecasts, financial information, specifications, computer-recorded information, tangible property (excepting your current Dell PC which the Company will allow you to keep), credit cards, entry cards,
identification badges and keys; and, any materials of any kind that contain or embody any proprietary or confidential information of the Company (and all reproductions thereof). 
  
 9. Proprietary Information Obligations. Both during and after your employment you acknowledge your continuing
obligations under your Proprietary Information and Inventions Agreement not to use or disclose any confidential or proprietary information of the Company. A copy of your Proprietary Information and Inventions Agreement is attached hereto as Exhibit
A. 
  
 10. Confidentiality. The provisions of this
Agreement will be held in strictest confidence by you and the Company and will not be publicized or disclosed in any manner whatsoever; provided, however, that: (a) you may disclose this Agreement to your immediate family; (b) the parties may
disclose this Agreement in confidence to their respective attorneys, accountants, auditors, tax preparers, and financial advisors; (c) the Company may disclose this Agreement as necessary to fulfill standard or legally required corporate reporting
or disclosure requirements; and (d) the parties may disclose this Agreement insofar as such disclosure may be necessary to enforce its terms or as otherwise required by law. In particular, and without limitation, you agree not to disclose the terms
of this Agreement to any current or former Company employee. 
  
 11. Nondisparagement and Assistance. Both you and the Company agree not to disparage the other party, and the other party’s officers, directors, employees, shareholders and agents, in any manner likely to be harmful to
them or their business, business reputation or personal reputation; provided that both you and the Company will respond accurately and fully to any question, inquiry or request for information when required by legal process. You also agree that you
will assist the Company in any investigation, potential litigation, or actual 

  

 Michael Shannahan 
 August 16, 2004 
 Page 3 of 5 
  

 
litigation arising out of events that occurred during your tenure with the Company, including without limitation, reasonable assistance in responding to
information requests, submitting to witness interviews, and providing testimony. You further agree to provide only truthful, accurate information in connection with any such assistance. 
  
 12. Release of Claims. In exchange for the Severance Payments, COBRA Premiums, and other consideration
provided to you by this Agreement that you are not otherwise entitled to receive, you hereby generally and completely release the Company and its directors, officers, employees, shareholders, partners, agents, attorneys, predecessors, successors,
parent and subsidiary entities, insurers, affiliates, and assigns from any and all claims, liabilities and obligations, both known and unknown, that arise out of or are in any way related to events, acts, conduct, or omissions occurring prior to
your signing this Agreement. This general release includes, but is not limited to: (1) all claims arising out of or in any way related to your employment with the Company, or the termination of that employment; (2) all claims related to your
compensation or benefits from the Company, including salary, bonuses, commissions, vacation pay, expense reimbursements, severance pay, fringe benefits, stock, stock options, or any other ownership interests in the Company; (3) all claims for breach
of contract, wrongful termination, and breach of the implied covenant of good faith and fair dealing; (4) all tort claims, including claims for fraud, defamation, emotional distress, and discharge in violation of public policy; and (5) all federal,
state, and local statutory claims, including claims for discrimination, harassment, retaliation, attorneys’ fees, or other claims arising under the federal Civil Rights Act of 1964 (as amended), the federal Americans with Disabilities Act of
1990, the federal Age Discrimination in Employment Act of 1967 (as amended) (“ADEA”), and the California Fair Employment and Housing Act (as amended). 
  

13. ADEA Waiver. You acknowledge that you are knowingly and voluntarily waiving and releasing any rights you may have under the ADEA
(“ADEA Waiver”). You also acknowledge that the consideration given for the ADEA Waiver is in addition to anything of value to which you were already entitled. You further acknowledge that you have been advised by this writing, as required
by the ADEA, that: (a) your ADEA Waiver does not apply to any rights or claims that arise after the date you sign this Agreement; (b) you should consult with an attorney prior to signing this Agreement; (c) you have twenty-one (21) days to consider
this Agreement (although you may choose to voluntarily sign it sooner); (d) you have seven (7) days following the date you sign this Agreement to revoke the ADEA Waiver; and (e) the ADEA Waiver will not be effective until the date upon which the
revocation period has expired unexercised, which will be the eighth day after you sign this Agreement (“Effective Date”). Nevertheless, your general release of claims, except for the ADEA Waiver, is effective immediately, and not
revocable. 
  

 Michael Shannahan 
 August 16, 2004 
 Page 4 of 5 
  

 14. Section 1542 Waiver. In giving the release herein, which includes claims which may
be unknown to you at present, you acknowledge that you have read and understand Section 1542 of the California Civil Code, which reads 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.” 
  
 You hereby expressly waive and relinquish all rights and benefits under that section and any law of any other jurisdiction of similar effect with respect to your release of any unknown or unsuspected claims herein.

  
 15. Miscellaneous. This Agreement, including
Exhibit A, constitutes the complete, final and exclusive embodiment of the entire agreement between you and the Company with regard to this subject matter. It is entered into without reliance on any promise or representation, written or oral, other
than those expressly contained herein, and it supersedes any other such promises, warranties or representations. This Agreement may not be modified or amended except in a writing signed by both you and a duly authorized officer of the Company. This
Agreement will bind the heirs, personal representatives, successors and assigns of both you and the Company, and inure to the benefit of both you and the Company, their heirs, successors and assigns. If any provision of this Agreement is determined
to be invalid or unenforceable, in whole or in part, this determination will not affect any other provision of this Agreement and the provision in question will be modified by the court so as to be rendered enforceable. This Agreement will be deemed
to have been entered into and will be construed and enforced in accordance with the laws of the State of California as applied to contracts made and to be performed entirely within California. 
  
 If this Agreement is acceptable to you, please sign below and return the original to me.

  
 I wish you good luck in your future endeavors. 
  

			
	Sincerely,
	
	CHORDIANT SOFTWARE, INC.
		
	By:	 	/s/ Jack Moyer
	 	 	 Jack Moyer
 VP, Human Resources

  
 Exhibit A - Proprietary Information
and Inventions Agreement 
  

	
	ACCEPTED AND AGREED:
	
	/s/ Michael Shannahan
	Michael Shannahan

  

  
 EXHIBIT A

  
 PROPRIETARY INFORMATION
AND INVENTIONS AGREEMENTForm of Director Agreement

 Exhibit 10.30 
  

			
	 {Name of Director}
	  	                                 {DATE}

		
	 {Current Address}
	  	 

  
 Re: Director
Agreement 
  
 Dear
                    , 
  
 On behalf of Chordiant Software, Inc. (“Company”), I am pleased to have you join the Company’s Board of Directors. This letter sets forth the terms of the
Director Agreement (the “Agreement”) that the Company is offering to you. 
  
 1. APPOINTMENT TO THE BOARD OF DIRECTORS. 
  
 1.1 Title, Term and Responsibilities. Subject to terms set forth herein, the Company agrees to appoint you to
serve as a Director on the Company’s Board of Directors (the “Board”), and you hereby accept such appointment the date you sign this Agreement (the “Effective Date”). You will serve as a Director of the Board from the
Effective Date until you voluntarily resign, are removed from the Board or are not reelected (the “Term”). Your rights, duties and obligations as a Director shall be governed by the Certificate of Incorporation and By-Laws of the Company,
each as amended from time to time (collectively, the “Governing Documents”), except that where the Governing Documents conflict with this Agreement, this Agreement shall control. 
  
 1.2 Mandatory Board Meeting Attendance. As a Director, you
agree to apply all reasonable efforts to attend each regular meeting of the Board and no fewer than seventy-five percent (75%) of these meetings of the Board in person, and no more than twenty-five percent (25%) of such meetings by telephone or
teleconference. 
  
 1.3 Independent Contractor.
Under this Agreement, your relationship with the Company will be that of an independent contractor as you will not be an employee of the Company nor eligible to participate in regular employee benefit and compensation plans of the Company.

  
 2. COMPENSATION AND
BENEFITS. 
  
 2.1 Retainer. The
Company will pay you a quarterly retainer for each quarter you serve on the Board (the “Retainer”) to be paid in quarterly installments of Seven Thousand Five Hundred Dollars ($7,500), payable subject to your attendance at the regular
Board meeting in each calendar quarter (i.e., January, April, July and October). The Company’s obligation to pay the Retainer will cease upon the termination of the Term. You agree to attend at least 3 out of the 4 regularly scheduled
Board meetings for the Retainer. In addition to the Retainer, in the event you are a member of and serve on the Audit Committee and/or the Compensation Committee and/or other committee that a fee is payable, the Company will pay you Seven Hundred
and Fifty Dollars ($750), payable subject to your attendance (the “Committee Retainer”), for each regularly scheduled Audit Committee and/or Compensation committee and/or other committee meeting that a fee is payable in each calendar
quarter. The Company’s obligation to pay the Committee Retainer will cease upon termination of the Term. 
  
 2.2 Options. Subject to the approval of the Board, the Company will grant you an initial option to purchase twenty-five thousand (25,000)
shares of the common stock of the Company under the Non-Employee Director’s Stock Option Plan. Under the terms of this plan, you may be granted an additional seven thousand five hundred (7,500) options for each year of 

 
participation as a Director, and an additional five thousand (5,000) options for each year of participation as a member of the Compensation and/or Audit
committee of the Board, per committee membership. The options shall have an exercise price equal to the fair market value of the shares as of the date of the grant, as set by the Board of the Company. 
  
 2.3 Business Expense Reimbursement. The Company will reimburse
you for all reasonable travel, entertainment or other expenses incurred by you in connection with your services hereunder, in accordance with the Company’s expense reimbursement policy as in effect from time to time. 
  
 2.4 Indemnification. You will receive indemnification as a
Director of the Company to the maximum extent extended to directors and certain executives of the Company generally, as provided by the Governing Documents. 
  
 2.5 Tax Indemnification. You acknowledge that the Company will not be responsible for the payment of any federal or state taxes that might
be assessed with respect to the Retainer and the options and you agree to be responsible for all such taxes. 
  
 3. PROPRIETARY INFORMATION OBLIGATIONS. 
  
 3.1 Proprietary Information. You agree that during the Term and thereafter that you will take all steps
reasonably necessary to hold all information of the Company, which a reasonable person would believe to be confidential or proprietary information, in trust and confidence, and not disclose any such confidential or proprietary information to any
third party without first obtaining the Company’s express written consent on a case-by-case basis. 
  
 3.2 Third Party Information. The Company has received and will in the future receive from third parties confidential or proprietary
information (“Third Party Information”) subject to a duty on the Company’s part to maintain the confidentiality of such information and to use it only for certain limited purposes. You agree to hold such Third Party Information in
confidence and not to disclose to anyone (other than Company personnel who need to know such information in connection with their work for Company) or to use, except in connection with your services for Company under this Agreement, Third Party
Information unless expressly authorized in writing by the Company. 
  
 3.3 Return of Company Property. Upon the end of the Term or upon the Company’s earlier request, you agree to deliver to the Company any and all notes, materials and documents, together with any copies thereof, which
contain or disclose any confidential or proprietary information or Third Party Information. 
  
 4. OUTSIDE ACTIVITIES. 
  
 4.1 Investments and Interests. Except as permitted by Sections 4.2, you agree not to participate in, directly or indirectly, any position or investment known by you to be materially adverse to the
Company. 
  
 4.2 Activities. Except with the prior
written consent of the Board, you will not during your tenure as a member of the Company’s Board undertake or engage in any other directorship, employment or business enterprise in direct competition with the Company, other than ones in which
you are a passive investor or other activities in which you were a participant prior to your appointment to the Board as disclosed to the Company.  
  

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 4.3 Other Agreements. You agree that you will not disclose to the Company or use on behalf
of the Company any confidential information governed by any agreement between you and any third party except in accordance with such agreement. 
  
 5. TERMINATION Of DIRECTORSHIP. 
  
 Voluntary Resignation, Removal Pursuant to Bylaws and Stockholder Action. You may resign from the Board at any time
with or without advance notice, with or without reason. You may be removed from the Board at any time, for any reason, in any manner provided by the Governing Documents and applicable law. You also may be removed from the Board at any time, by an
affirmative vote of a majority of the stockholders of the Company. 
  
 6. GENERAL PROVISIONS. 
  
 6.1 Severability. Whenever possible, each provision of this Agreement will be interpreted in such manner as to be effective and valid under applicable law. If any provision of this Agreement is held to be invalid, illegal or
unenforceable such provision will be reformed, construed and enforced to render it valid, legal, and enforceable consistent with the intent of the parties insofar as possible. 
  
 6.2 Entire Agreement. This Agreement constitutes the entire agreement between you and the Company with respect
to your service as a Director and supersedes any prior agreement, promise, representation or statement written between you and the Company with regard to this subject matter. It is entered into without reliance on any promise, representation,
statement or agreement other than those expressly contained or incorporated herein, and it cannot be modified or amended except in a writing signed by the party or parties affected by such modification or amendment. 
  
 6.3 Successors and Assigns. This Agreement is intended to bind
and inure to the benefit of and be enforceable by you and the Company and our respective successors, assigns, heirs, executors and administrators, except that you may not assign any of your rights or duties hereunder without the written consent of
the Company. 
  
 6.4 Governing Law. This Agreement
will be governed by the law of the State of Delaware as applied to contracts made and performed entirely within Delaware. 
  

 3 

 We are all delighted to be able to extend you this offer and look forward to working with you. To
indicate your acceptance of the Company’s offer, please sign and date this Agreement below. 
  

	
	Sincerely,
	  

	Sam Spadafora
	Chairman
	Chordiant Software, Inc.
	
	ACCEPTED AND AGREED:
	  

	Signature
	  

	Date

  

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