Document:

EX-10.11

 Exhibit 10.11 

 

							
	

	  		  		    	 6309 Carpinteria Ave.
 Carpinteria, CA 93013

 
 866 477 6267

procore.com

 April 30, 2021 
 Craig F.
Courtemanche, Jr. 
 President, CEO and Chairman of the Board 

Procore Technologies, Inc. 
 6309 Carpinteria Avenue 

Carpinteria, CA 93013 
 Dear Tooey, 

You are currently employed by Procore Technologies, Inc. (the “Company”) as President, Chief Executive Officer and Chairman of the Board of
Directors. This letter agreement confirms the existing terms and conditions of your employment in that role. 
 POSITION. You are serving in a full-time
capacity as President, Chief Executive Officer and Chairman of the Board of Directors, working in our offices located in Carpinteria, CA. Subject to the other provisions of this letter agreement, we may change your position, duties, and work
location from time to time at our discretion. 
 EMPLOYEE BENEFITS. As a regular employee of the Company, you are eligible to participate in the
Company’s standard benefits, subject to the terms and conditions of such plans and programs. Subject to the other provisions of this letter agreement, we may change compensation and benefits from time to time at our discretion. 

SALARY. Your annual base salary is $480,000.00, payable in semi-monthly installments in accordance with the Company’s standard payroll practices for
salaried employees. This salary will be subject to adjustment pursuant to the Company’s employee compensation policies in effect from time to time. 

ANNUAL BONUS. You are eligible for incentive bonus compensation with a target bonus equal to 100% of your annual base salary, subject to the Company’s
corporate bonus plan. 
 EQUITY. You have been granted various equity interests in the Company. Those equity interests shall continue to be governed in all
respects by the terms of the applicable equity agreements, grant notices and equity plans. 
 PROPRIETARY INFORMATION AND INVENTIONS AGREEMENT. You remain
subject to the terms of the Proprietary Information and Inventions Agreement that you previously executed. 
 PERIOD OF EMPLOYMENT. Your employment with the
Company remains “at will,” meaning that either you or the Company may terminate your employment at any time and for any reason, with or without cause. This remains the full and complete agreement between you and the Company on this term.
Although your job duties, title, compensation and benefits, as well as the Company’s personnel policies and procedures, may change from time to time, the “at will” nature of your employment may only be changed in an express written
agreement signed by you and a duly authorized officer of the Company. 
 SEVERANCE. You will be eligible for severance benefits under the terms of the
Executive Severance Agreement between you and the Company dated February 27, 2020. 

							
	

	  		  		    	 6309 Carpinteria Ave.
 Carpinteria, CA 93013

 
 866 477 6267

Procore.com

  

 AMENDMENT. This letter agreement (except for terms reserved to the Company’s discretion) may not be
amended or modified except by an express written agreement signed by you and a duly authorized officer of the Company. 
 ARBITRATION. To ensure the rapid
and economical resolution of disputes that may arise in connection with your employment with the Company, you and the Company agree that any and all disputes, claims, or causes of action, in law or equity, including but not limited to statutory
claims, arising from or relating to the enforcement, breach, performance, or interpretation of this agreement, your employment with the Company, or the termination of your employment, shall be resolved pursuant to the Federal Arbitration Act, 9
U.S.C. § 1-16, to the fullest extent permitted by law, by final, binding and confidential arbitration conducted by JAMS or its successor, under JAMS’ then applicable rules and procedures for
employment disputes before a single arbitrator (available upon request and also currently available at http://www.jamsadr.com/rules-employment-arbitration/). You acknowledge that by agreeing to this arbitration procedure, both you and the
Company waive the right to resolve any such dispute through a trial by jury or judge or administrative proceeding. In addition, all claims, disputes, or causes of action under this section, whether by you or the Company, must be brought in an
individual capacity, and shall not be brought as a plaintiff (or claimant) or class member in any purported class or representative proceeding, nor joined or consolidated with the claims of any other person or entity. The arbitrator may not
consolidate the claims of more than one person or entity, and may not preside over any form of representative or class proceeding. To the extent that the preceding sentences regarding class claims or proceedings are found to violate applicable law
or are otherwise found unenforceable, any claim(s) alleged or brought on behalf of a class shall proceed in a court of law rather than by arbitration. This paragraph shall not apply to any action or claim that cannot be subject to mandatory
arbitration as a matter of law, including, without limitation, claims brought pursuant to the California Private Attorneys General Act of 2004, as amended, the California Fair Employment and Housing Act, as amended, and the California Labor Code, as
amended, to the extent such claims are not permitted by applicable law(s) to be submitted to mandatory arbitration and the applicable law(s) are not preempted by the Federal Arbitration Act or otherwise invalid (collectively, the “Excluded
Claims”). In the event you intend to bring multiple claims, including one of the Excluded Claims listed above, the Excluded Claims may be filed with a court, while any other claims will remain subject to mandatory arbitration. You will have the
right to be represented by legal counsel at any arbitration proceeding. Questions of whether a claim is subject to arbitration under this agreement shall be decided by the arbitrator. Likewise, procedural questions which grow out of the dispute and
bear on the final disposition are also matters for the arbitrator. The arbitrator shall: (a) have the authority to compel adequate discovery for the resolution of the dispute and to award such relief as would otherwise be permitted by law; and
(b) issue a written statement signed by the arbitrator regarding the disposition of each claim and the relief, if any, awarded as to each claim, the reasons for the award, and the arbitrator’s essential findings and conclusions on which
the award is based. The arbitrator shall be authorized to award all relief that you or the Company would be entitled to seek in a court of law. The Company shall pay all JAMS arbitration fees in excess of the administrative fees that you would be
required to pay if the dispute were decided in a court of law. Nothing in this letter agreement is intended to prevent either you or the Company from obtaining injunctive relief in court to prevent irreparable harm pending the conclusion of any such
arbitration. Any awards or orders in such arbitrations may be entered and enforced as judgments in the federal and state courts of any competent jurisdiction. 

* * * 

							
	

	  		  		    	 6309 Carpinteria Ave.
 Carpinteria, CA 93013

 
 866 477 6267

Procore.com

  

 This letter agreement, together with your Proprietary Information and Inventions Agreement, equity agreements
and other agreements referenced herein, form the complete and exclusive statement of your employment agreement with the Company and supersedes any other agreements or promises made to you by anyone, whether oral or written, with respect to the
subject matter hereof. If any provision of this letter agreement is determined to be invalid or unenforceable, in whole or in part, this determination shall not affect any other provision of this letter agreement and the provision in question shall
be modified so as to be rendered enforceable in a manner consistent with the intent of the parties insofar as possible under applicable law. This letter agreement may be delivered and executed via facsimile, electronic mail (including pdf or any
electronic signature complying with the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act or other applicable law) or other transmission method and shall be deemed to have been duly and validly delivered and executed and be valid
and effective for all purposes. 
 Please sign and date this letter agreement below to indicate your agreement with its terms. 

 

					
	Sincerely,	 		  	ACCEPTED AND AGREED TO:
			
	 /s/  Benjamin C. Singer
	 		  	 /s/  Craig F. Courtemanche, Jr.

	Benjamin C. Singer	 		  	Signature of Craig F. Courtemanche, Jr.
	Chief Legal Officer	 	    	  	
	Procore Technologies, Inc.	 		  	Dated: May 1, 2021EX-10.12

 Exhibit 10.12 

 

							
	

	  		  		    	 6309 Carpinteria Ave.
 Carpinteria, CA 93013

 
 866 477 6267

procore.com

 April 30, 2021      

Dennis Lyandres 
 Chief Revenue Officer 

Procore Technologies, Inc. 
 6309 Carpinteria Avenue 

Carpinteria, CA 93013 
 Dear Dennis, 

You are currently employed by Procore Technologies, Inc. (the “Company”) as Chief Revenue Officer. This letter agreement confirms the existing terms
and conditions of your employment in that role. 
 POSITION. You are serving in a full-time capacity as Chief Revenue Officer, reporting to Craig F.
Courtemanche, Jr., President and Chief Executive Officer, working in our offices located in Carpinteria, CA. Subject to the other provisions of this letter agreement, we may change your position, duties, and work location from time to time at our
discretion. 
 EMPLOYEE BENEFITS. As a regular employee of the Company, you are eligible to participate in the Company’s standard benefits, subject to
the terms and conditions of such plans and programs. Subject to the other provisions of this letter agreement, we may change compensation and benefits from time to time at our discretion. 

SALARY. Your annual base salary is $400,000.00, payable in semi-monthly installments in accordance with the Company’s standard payroll practices for
salaried employees. This salary will be subject to adjustment pursuant to the Company’s employee compensation policies in effect from time to time. 

ANNUAL BONUS. You are eligible for incentive bonus compensation with a target bonus equal to 100% of your annual base salary, subject to the Company’s
corporate bonus plan. 
 EQUITY. You have been granted various equity interests in the Company. Those equity interests shall continue to be governed in all
respects by the terms of the applicable equity agreements, grant notices and equity plans. 
 PROPRIETARY INFORMATION AND INVENTIONS AGREEMENT. You remain
subject to the terms of the Proprietary Information and Inventions Agreement that you previously executed. 
 PERIOD OF EMPLOYMENT. Your employment with the
Company remains “at will,” meaning that either you or the Company may terminate your employment at any time and for any reason, with or without cause. This remains the full and complete agreement between you and the Company on this term.
Although your job duties, title, compensation and benefits, as well as the Company’s personnel policies and procedures, may change from time to time, the “at will” nature of your employment may only be changed in an express written
agreement signed by you and a duly authorized officer of the Company. 
 SEVERANCE. You will be eligible for severance benefits under the terms of the
Executive Severance Agreement between you and the Company dated February 27, 2020. 

							
	

	  		  		    	 6309 Carpinteria Ave.
 Carpinteria, CA 93013

 
 866 477 6267

Procore.com

  

 AMENDMENT. This letter agreement (except for terms reserved to the Company’s discretion) may not be
amended or modified except by an express written agreement signed by you and a duly authorized officer of the Company. 
 ARBITRATION. To ensure the rapid
and economical resolution of disputes that may arise in connection with your employment with the Company, you and the Company agree that any and all disputes, claims, or causes of action, in law or equity, including but not limited to statutory
claims, arising from or relating to the enforcement, breach, performance, or interpretation of this agreement, your employment with the Company, or the termination of your employment, shall be resolved pursuant to the Federal Arbitration Act, 9
U.S.C. § 1-16, to the fullest extent permitted by law, by final, binding and confidential arbitration conducted by JAMS or its successor, under JAMS’ then applicable rules and procedures for
employment disputes before a single arbitrator (available upon request and also currently available at http://www.jamsadr.com/rules-employment-arbitration/). You acknowledge that by agreeing to this arbitration procedure, both you and the
Company waive the right to resolve any such dispute through a trial by jury or judge or administrative proceeding. In addition, all claims, disputes, or causes of action under this section, whether by you or the Company, must be brought in an
individual capacity, and shall not be brought as a plaintiff (or claimant) or class member in any purported class or representative proceeding, nor joined or consolidated with the claims of any other person or entity. The arbitrator may not
consolidate the claims of more than one person or entity, and may not preside over any form of representative or class proceeding. To the extent that the preceding sentences regarding class claims or proceedings are found to violate applicable law
or are otherwise found unenforceable, any claim(s) alleged or brought on behalf of a class shall proceed in a court of law rather than by arbitration. This paragraph shall not apply to any action or claim that cannot be subject to mandatory
arbitration as a matter of law, including, without limitation, claims brought pursuant to the California Private Attorneys General Act of 2004, as amended, the California Fair Employment and Housing Act, as amended, and the California Labor Code, as
amended, to the extent such claims are not permitted by applicable law(s) to be submitted to mandatory arbitration and the applicable law(s) are not preempted by the Federal Arbitration Act or otherwise invalid (collectively, the “Excluded
Claims”). In the event you intend to bring multiple claims, including one of the Excluded Claims listed above, the Excluded Claims may be filed with a court, while any other claims will remain subject to mandatory arbitration. You will have the
right to be represented by legal counsel at any arbitration proceeding. Questions of whether a claim is subject to arbitration under this agreement shall be decided by the arbitrator. Likewise, procedural questions which grow out of the dispute and
bear on the final disposition are also matters for the arbitrator. The arbitrator shall: (a) have the authority to compel adequate discovery for the resolution of the dispute and to award such relief as would otherwise be permitted by law; and
(b) issue a written statement signed by the arbitrator regarding the disposition of each claim and the relief, if any, awarded as to each claim, the reasons for the award, and the arbitrator’s essential findings and conclusions on which
the award is based. The arbitrator shall be authorized to award all relief that you or the Company would be entitled to seek in a court of law. The Company shall pay all JAMS arbitration fees in excess of the administrative fees that you would be
required to pay if the dispute were decided in a court of law. Nothing in this letter agreement is intended to prevent either you or the Company from obtaining injunctive relief in court to prevent irreparable harm pending the conclusion of any such
arbitration. Any awards or orders in such arbitrations may be entered and enforced as judgments in the federal and state courts of any competent jurisdiction. 

* * * 

							
	

	  		  		    	 6309 Carpinteria Ave.
 Carpinteria, CA 93013

 
 866 477 6267

Procore.com

  

 This letter agreement, together with your Proprietary Information and Inventions Agreement, equity agreements
and other agreements referenced herein, form the complete and exclusive statement of your employment agreement with the Company and supersedes any other agreements or promises made to you by anyone, whether oral or written, with respect to the
subject matter hereof. If any provision of this letter agreement is determined to be invalid or unenforceable, in whole or in part, this determination shall not affect any other provision of this letter agreement and the provision in question shall
be modified so as to be rendered enforceable in a manner consistent with the intent of the parties insofar as possible under applicable law. This letter agreement may be delivered and executed via facsimile, electronic mail (including pdf or any
electronic signature complying with the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act or other applicable law) or other transmission method and shall be deemed to have been duly and validly delivered and executed and be valid
and effective for all purposes. 
 Please sign and date this letter agreement below to indicate your agreement with its terms. 

 

					
	Sincerely,	 		  	ACCEPTED AND AGREED TO:
			
	 /s/  Craig F. Courtemanche, Jr.
	 	    	  	 /s/  Dennis Lyandres

	Craig F. Courtemanche, Jr.	 		  	Signature of Dennis Lyandres
	President & CEO	 		  	
	Procore Technologies, Inc.	 		  	Dated: May 1, 2021

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