Document:

Exhibit 10.15

 

	
  

  	
   

  
	
   

  
	
   

  
	
   

  
	
   

  
	
  2005
  RETENTION STOCK OPTION

  
	
  AGREEMENT

  
	
   

  

 

1.     Grant of Option.  Intellisync Corporation, a
Delaware corporation (the “Company”), hereby grants to [                ] (“Optionee”), an option (the “Option”) to
purchase the total number of shares of Common Stock (the “Shares”) set
forth in the notice of stock option grant, as attached hereto as Exhibit A
(the “Notice”), which may be transmitted to or viewed online by
Optionee, (the terms of which are incorporated herein by this reference), at
the exercise price per Share set forth in the Notice (the “Exercise Price”).  This Agreement shall be deemed executed by
the Company and Optionee upon Optionee’s online acceptance of the Option.

 

2.     Designation of Option.  This
Option is intended to be an Incentive Stock Option as defined in Section 422
of the Code only to the extent so designated in the Notice, and to the extent
it is not so designated or fails to qualify as an Incentive Stock Option, it is
intended to be a Non-statutory Stock Option. 

 

Notwithstanding
the above, if designated as an Incentive Stock Option, in the event that the
Shares subject to this Option (and all other Incentive Stock Options granted to
Optionee by the Company or any Parent or Subsidiary, including under other
plans of the Company) that first become exercisable in any calendar year have
an aggregate fair market value (determined for each Share as of the date of
grant of the option covering such Share) in excess of $100,000, the Shares in
excess of $100,000 shall be treated as subject to a Non-statutory Stock Option.

 

3.     Terms, Conditions And Form Of Options.  The
Option shall be subject to the following terms and conditions: 

 

(a)   Option
Exercise Price.  The option exercise
price for each Option shall be established in the sole discretion of the Board
of Directors of the Company (the “Board”); provided, however, that (i) the option exercise price per share
for an Incentive Stock Option shall be not less than the Fair Market Value, as
determined by the Board, of a Share on the date of the granting of the Option, (ii) the
option exercise price per Share for a Non-statutory Stock Option shall not be
less than eighty-five percent (85%) of the fair market value, as determined by
the Board, of a Share on the date of the granting of the Option and (iii) no
Incentive Stock Option granted to an Optionee who at the time the Option is
granted owns stock possessing more than ten percent (10%) of the total combined
voting power of all classes of stock of a Participating Company within the
meaning of section 422(b)(6) of the Code (a “Ten Percent Owner
Optionee”) shall have an option exercise price per share less than one
hundred ten percent (110%) of the fair market value, as determined by the
Board, of a Share on the date of the granting of the Option.  Notwithstanding the foregoing, an Option
(whether an Incentive Stock Option or a Non-statutory Stock Option) may be
granted with an option exercise price lower than the minimum exercise price set
forth above if such Option is granted pursuant to an assumption or substitution
for another option in a manner qualifying with the provisions of section 424(a) of
the Code. 

 

(b)   Exercised
Period of Options.  The Board shall have
the power to set the time or times within which each Option shall be
exercisable or the event or events upon the occurrence of which all or a
portion of each Option shall be exercisable, including vesting requirements
and/or performance criteria with respect to the Company and/or the Optionee,
and the term of each Option; provided, however, that (i) no Option shall be exercisable after
the expiration of ten (10) years after the date such Option is granted,
and (ii) no Incentive Stock Option granted to a Ten Percent Owner Optionee
shall be exercisable after the expiration of five (5) years after the date
such Option is granted.  The Board shall
have the discretion to determine whether and to what extent the vesting of
Options shall be tolled during any unpaid leave of absence; provided, however, that
in the absence of such determination, vesting of Options shall be tolled after
the thirtieth (30th calendar day of any such unpaid leave (unless
otherwise required by the Applicable Laws). 
In the event of military leave, vesting shall toll during any unpaid
portion of such leave, provided that, upon an Optionee’s returning from
military leave (under conditions that would entitle him or her to protection
upon such return under the Uniform Services Employment and Reemployment Rights
Act), he or she shall be given vesting credit with respect to Options to the
same extent as would have applied had the Optionee continued to provide
services to the Company throughout the leave on the same terms as he or she was
providing services immediately prior to such leave. 

 

 

4.     Exercise of Option.  This
Option shall be exercisable during its term in accordance with the
Vesting/Exercise Schedule set out in the Notice and as set forth below, provided, however, that
to the extent that any Shares subject to this Option are exercisable prior to
vesting, such Shares shall be subject to a right of repurchase by the Company:

 

(a)   Right
to Exercise.

 

(i)    This
Option may not be exercised for a fraction of a Share. 

 

(ii)   In
the event of Optionee’s death, Disability or other termination of employment or
service relationship, the exercisability of the Option is governed by Section 6
below, subject to the limitations contained in this Section 4.

 

(iii)  In
no event may this Option be exercised after the Expiration Date of the Option
as set forth in the Notice.

 

(b)   Method
of Exercise.

 

(i)    This
Option shall be exercisable by delivering to the Company a written notice of
exercise (in the form attached as Exhibit B or in any other form of
notice approved by the Board) which shall state Optionee’s election to exercise
the Option, the number of Shares with respect to which the Option is being
exercised, and such other representations and agreements as to the holder’s
investment intent with respect to such Shares as may be required by the Company
and the Applicable Laws.  Such written
notice shall be signed by Optionee and shall be delivered to the Company (or
its designee) by such means as are determined by the Board in its discretion to
constitute adequate delivery.  To
exercise the Option, Optionee must either accompany the written notice with
payment of the aggregate exercise price for the Shares being exercised or
provide satisfactory assurance to the Company that delivery of such exercise
price will be made promptly and in a manner that complies with the Applicable
Laws.  With respect to an exercise
pursuant to Section 5(a) or (b) below, the Option shall be
deemed to be exercised upon receipt by the Company of the written exercise
notice accompanied by the exercise price. 
With respect to an exercise pursuant to Section 5(c) below,
the Option shall be deemed to be exercised upon receipt by the Company of the
irrevocable broker instructions.

 

(ii)   The
Company is not obligated, and will have no liability for failure, to issue or
deliver any Shares upon exercise of the Option unless such issuance or delivery
would comply with the Applicable Laws, with such compliance determined by the
Company in consultation with its legal counsel.  This Option may not be exercised if the
issuance of such Shares upon such exercise or the method of payment of
consideration for such Shares would constitute a violation of any Applicable
Law, including without limitation any rule under Part 221 of
Title 12 of the Code of Federal Regulations as promulgated by the Federal
Reserve Board.  As a condition to the
exercise of this Option, the Company may require Optionee to make any
representation and warranty to the Company as may be required by the Applicable
Laws.  Assuming such compliance, for
income tax purposes the Shares shall be considered transferred to Optionee on
the date on which the Option is exercised with respect to such Shares.

 

(iii)  As
a condition to the exercise of this Option, Optionee agrees to make adequate
provision for federal, state or other tax withholding obligations, if any,
which arise upon the vesting or exercise of the Option, or disposition of
Shares, whether by withholding Shares subject to the Option, direct payment to
the Company, or otherwise.

 

5.     Method of Payment.  Payment
of the Exercise Price shall be by any of the following, or a combination of the
following, at the election of Optionee:  

 

(a)   cash,
check or other cash equivalent; 

 

(b)   surrender
to the Company of other shares of Common Stock of the Company that have an
aggregate Fair Market Value on the date of surrender equal to the Exercise
Price of the Shares as to which the Option is being exercised.  In the case of shares acquired directly or
indirectly from the Company, such shares must have been owned by Optionee for
more than six (6) months on the date of surrender (or such other
period of time as is necessary to avoid the Company’s incurring adverse
accounting charges); or

 

(c)   if
the Company is then permitting options to be exercised through a “cashless”
brokered exercise program, delivery of a properly executed exercise notice
together with irrevocable instructions to a broker to deliver

 

2

 

to the Company promptly and in a manner that complies
with all Applicable Laws the funds necessary to satisfy the aggregate exercise
price and any applicable tax withholding; provided that the Company reserves at
all times the right in the Company’s sole and absolute discretion to decline to
approve or to terminate any such program or procedure. 

 

6.     Termination of Relationship; Effect on Option.  Following
the date of termination (the “Termination Date”) of Optionee’s
continuous employment, consulting or other service relationship with the
Participating Company Group (a “Termination”) for any reason, Optionee
may exercise the Option only as set forth in the Notice and this Section 6.  To the extent that Optionee is not vested in
the Shares as of the Termination Date, or if Optionee does not exercise this
Option with respect to vested Shares within the Termination Period set forth in
the Notice or the termination periods set forth below, the Option shall
terminate in its entirety.  In no event,
may any Option be exercised after the Expiration Date of the Option as set
forth in the Notice.

 

Optionee’s continuous service
with the Participating Company Group shall not be deemed to terminate if
Optionee takes any military leave, sick leave, or other bona fide leave of
absence approved by the Company of ninety (90) days or less.  In the event of a leave of absence in excess
of ninety (90) days, Optionee’s continuous service shall be deemed to terminate
on the ninety-first (91st) day of such leave unless his or her right
to return to service with the Participating Company Group remains guaranteed by
contract or statute.  A change in status
from one form of service-provider to another (e.g., from employee to
consultant) shall not constitute a Termination.

 

(a)   Termination
Not as a Result of Disability or Death. 
In the event of Termination for any reason other than as a result of
Optionee’s Disability or death, Optionee may, to the extent vested in the
Shares as of the Termination Date, exercise this Option as to such vested
Shares only during the ninety (90) day period beginning on the Termination
Date.

 

(b)   Other
Terminations.  In connection with any
Termination other than a Termination covered by Section 6(a), Optionee may
exercise the Option only as described below:

 

(c)   Termination
upon Disability of Optionee.  In the
event of Termination as a result of Optionee’s Disability, Optionee may, to the
extent vested in the Shares as of the Termination Date, exercise this Option
within twelve (12) months from the Termination Date.  

 

(i)    Death
of Optionee.  In the
event of the death of Optionee (a) during the term of this Option and
while an employee, consultant or other service provider of the Company and
having been in continuous service status since the date of grant of the Option,
or (b) within three (3) months after Optionee’s Termination Date, the
Option may be exercised at any time within twelve (12) months following the
date of death by Optionee’s estate or by a person who acquired the right to
exercise the Option by bequest or inheritance, but only to the extent Optionee
was vested in the Shares as of the Termination Date.

 

(d)   Extension
of Exercise Prevented by Law. 
Notwithstanding the foregoing, if the exercise of the Option within the
applicable time periods set forth above is prevented by the provisions of Section 3(b)(ii) above,
the Option shall remain exercisable for a period of up to three (3) months
after the date that the circumstances preventing such exercise lapse; provided that the Option shall not be exercisable after the
Expiration Date of the Option as set forth in the Notice.  The Company makes no representation as to the
tax consequences of any such delayed exercise period.  The Optionee should consult with his or her
own tax advisor as to the tax consequences of any such delayed exercise period.     

 

7.     Non-Transferability of Option.  Except as
otherwise set forth in the Notice, this Option may not be transferred in any
manner otherwise than by will or by the laws of descent or distribution and may
be exercised during the lifetime of Optionee only by him or her.  The terms of this Option shall be binding
upon the executors, administrators, heirs, successors and assigns of Optionee.

 

8.     Rights as Stockholder.  Until the
issuance of the Shares following exercise of an Option (as evidenced by the
appropriate entry on the books of the Company or of a duly authorized transfer
agent of the Company), no right to vote or receive dividends or any other
rights as a stockholder shall exist with respect to the Shares subject to an
Option. 

 

9.     No Employment Rights.  This
Agreement shall not confer upon any Optionee any right with respect to
continuation of an employment or consulting relationship with the Company, nor
shall it interfere in any way

 

3

 

with such participant’s right or
the Company’s right to terminate the employment or consulting relationship at
any time for any reason. 

 

10.   Notice of Disqualifying Dispositions.  With
respect to any Shares issued upon exercise of an Incentive Stock Option, if
Optionee sells or otherwise disposes of such Shares on or before the later of (i) the
date two (2) years after the Option grant date, or (ii) the date one (1) year
after the date of exercise, Optionee shall immediately notify the Company in
writing of such disposition.  Optionee
acknowledges and agrees that he or she may be subject to income tax withholding
by the Company on the compensation income recognized by Optionee from the early
disposition by payment in cash or out of the current earnings paid to Optionee.

 

11.   Changes in Capital Stock; Corporate Transactions.  Subject
to any action required under the Applicable Laws by the stockholders of the
Company, the number of Shares covered under this Agreement, as well as the
exercise price per share of outstanding Options, shall be proportionately
adjusted for any increase or decrease in the number of issued Shares resulting
from a stock split, reverse stock split, stock dividend, combination,
recapitalization or reclassification of the Common Stock, or any other increase
or decrease in the number of issued Shares effected without receipt of
consideration by the Company; provided, however, that conversion of any convertible securities of
the Company shall not be deemed to have been “effected without receipt of
consideration.”  Such adjustment shall be
made by the Board, whose determination in that respect shall be final, binding
and conclusive.  Except as expressly
provided herein, no issuance by the Company of shares of stock of any class, or
securities convertible into shares of stock of any class, shall affect, and no
adjustment by reason thereof shall be made with respect to, the number or price
of Shares subject to an Option.

 

12.   Transfer of Control; Liquidation.  A “Transfer of Control” shall be
deemed to have occurred in the event of (a) a sale of all or substantially
all of the Company’s assets, (b) a merger, consolidation or other capital
reorganization or transaction of the Company with or into another corporation,
entity or person. 

 

In the event of a Transfer of Control, the Board, in
its sole discretion, may arrange with the surviving, continuing, successor, or
purchasing corporation or parent corporation thereof, as the case may be (the “Acquiring Corporation”), for the
Acquiring Corporation to either assume the Options hereunder or substitute
options for the Acquiring Corporation’s stock for this Option.  Any Options which are neither assumed,
substituted for by the Acquiring Corporation in connection with the Transfer of
Control, nor exercised as of the date of the Transfer of Control, shall
terminate and cease to be outstanding effective as of the date of the Transfer
of Control. 

 

In the event of a liquidation or dissolution of the
Company, this Option will terminate immediately prior to the consummation of
such action, unless otherwise determined by the Board in its sole discretion. 

 

13.   Definitions.  As used herein, the following
definitions shall apply:

 

(a)   “Agreement”
means this 2005 Retention Stock Option Agreement between the Company and
Optionee evidencing the terms and conditions of this Option.

 

(b)   “Applicable
Laws” means the requirements relating to the administration of stock
options under U.S. state corporate laws, U.S. federal and state securities
laws, the Code, any stock exchange or quotation system on which the Common
Stock is listed or quoted and the applicable laws of any foreign country or
jurisdiction that may apply to this Option.

 

(c)   “Code”
means the Internal Revenue Code of 1986, as amended.

 

(d)   “Common
Stock” means the common stock of the Company.

 

(e)   “Disability”
means total and permanent disability as defined in Section 22(e)(3) of
the Code.

 

(f)    “Fair
Market Value” means, as of any date, the value of Common Stock determined
as follows:

 

(i)    If
the Common Stock is listed on any established stock exchange or a national
market system, including without limitation the Nasdaq National Market or The
Nasdaq SmallCap Market of The Nasdaq Stock Market, its Fair Market Value shall
be the closing sales price for such stock (or the closing bid, if no sales were
reported) as quoted on such exchange or system on the day of determination, as
reported in The Wall Street Journal or such other
source as the Administrator deems reliable;

 

4

 

(ii)   If
the Common Stock is regularly quoted by a recognized securities dealer but
selling prices are not reported, its Fair Market Value shall be the mean
between the high bid and low asked prices for the Common Stock on the day of
determination; or

 

(iii)  In
the absence of an established market for the Common Stock, the Fair Market
Value thereof shall be determined in good faith by the Board.

 

(g)   “Non-statutory
Stock Option” means an Option not intended to qualify as an incentive stock
option within the meaning of Section 422 of the Code and the regulations
promulgated thereunder.

 

(h)   “Parent”
means a “parent corporation,” whether now or hereafter existing, as defined in Section 424(e) of
the Code.

 

(i)    “Subsidiary”
means a “subsidiary corporation”, whether now or hereafter existing, as defined
in Section 424(f) of the Code.

 

14.   Miscellaneous Provisions.

 

(a)   Effect
of Agreement.  This Agreement shall
be administered by the Board and/or by one or more duly appointed committees
(collectively, the “Committee”)
of the Board having such powers as shall be specified by the Board.  The composition of, and authority delegated
to, the Committee shall conform to any mandatory requirements of the Applicable
Laws.  Subsequent references herein to
the Board shall also mean the Committee if such Committee has been appointed
and, unless the powers of the Committee have been specifically limited, the
Committee shall have all of the powers of the Board granted herein, including,
without limitation, the power to terminate or amend this Agreement at any time,
subject to any limitations imposed by the Applicable Laws.   

 

All questions of interpretation of this Agreement or
of the Option granted hereunder shall be determined by the Board, and such
determinations shall be final and binding upon all persons having an interest
hereunder. 

 

(b)   Choice
of Law; Arbitration.  This Agreement
shall be governed by, and construed in accordance with, the laws of the State
of California, as such laws are applied to contracts entered into and performed
in such State.  Any dispute or
controversy arising under or in connection with this Agreement shall be settled
exclusively in arbitration conducted in Santa Clara County, California, in
accordance with the rules of the American Arbitration Association then in
effect.  Judgment may be entered on the
arbitrator’s award in any court having jurisdiction.  Punitive damages shall not be awarded.  In any arbitration proceeding, the party
determined to be the prevailing party shall be entitled to receive, in addition
to any other award, its attorneys’ fees and expenses of the proceeding.

 

15.   Data Protection Matters.  In order
to facilitate administration of the Option, it will be necessary for the
Company or the Subsidiary that employs Optionee (or its or their payroll
administrators) to collect, hold and process certain personal information about
Optionee and to transfer this data to the Company and to certain third parties
such as brokers with whom Optionee may elect to deposit shares, as well as
other third party outsource service providers engaged in administering stock
option matters.  Optionee consents to the
Company or the applicable Subsidiary (or its or their agents or administrators)
collecting, holding and processing such personal data and transferring such
data to the Company or any other parties insofar as it is reasonably necessary
to implement, administer and manage the Option. 
Where such a transfer is to a destination outside the country in which
Optionee resides, or outside the European Economic Area, the Company (and its
agents and administrators) shall take reasonable steps to ensure that Optionee’s
personal data continues to be adequately protected and securely held.  Optionee understands that Optionee may, at
any time, view his or her personal data, require any necessary corrections to
it, or withdraw the consents contained herein in writing by contacting the
Human Resources Department of the Company (or if applicable the Human Resources
Department of the Subsidiary that employs Optionee) (but Optionee acknowledges
that without the use of such data it may not be practicable for the Company to
administer the Option in a timely fashion or at all and this may be detrimental
to Optionee).

 

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  EXHIBIT A

  
	
  NOTICE OF NON-STATUTORY

  
	
  STOCK OPTION GRANT

  
	
   

  

 

	
  «First_Name» «Last_Name»

  	
   

  	
   

  	
   

  	
  Option No.:  0000000000«Option_»

  
	
  «Address_Line_1»

  	
   

  	
   

  	
   

  	
  2005 Retention
  Stock Option Agreement

  
	
  «Address_Line_2»

  	
   

  	
   

  	
   

  	
   

  
	
  «City», «State»
  «Zip»

  	
   

  	
   

  	
   

  	
   

  
	
  «Country»

  	
   

  	
   

  	
   

  	
   

  

 

You
have been granted an option to purchase Common Stock of Intellisync Corporation
(the “Company”) as follows:

 

	
  Date of Option Grant:

  	
   

  	
  «Date_of_Grant»

  
	
  Exercise Price Per Share:

  	
   

  	
  $«Exercise_Price»

  
	
  Total Exercise Price:

  	
   

  	
  $«Exercise_Price»

  
	
  Number of Option Shares:

  	
   

  	
  «M__of_Options»

  
	
  Option Expiration Date:

  	
   

  	
  «Expiration_Date»

  
	
  Vesting Commencement Date:

  	
   

  	
  «Vesting_Date»

  

 

Vesting/Exercise
Schedule:  So long as your employment, consulting or
other service relationship with the Company continues, the Shares underlying
this Option shall vest and become exercisable in accordance with the following
schedule:

 

one-fourth of the total number of Shares subject to
the Option shall vest and become exercisable on the twelve month anniversary of
the Vesting Commencement Date and 1/48th of the total number of
Shares subject to the Option shall vest and become exercisable each month
thereafter, so that the Option shall be fully vested and exercisable on the
fourth anniversary of the Vesting Commencement Date (assuming you remain in a
continuous service relationship with the Company through that date).

 

Termination
Period:  The Option may be exercised as to vested
Shares only for three (3) months after termination of employment or
consulting relationship except as set out in Section 6 of the Agreement
(but in no event later than the Expiration Date).  You are responsible for keeping track of
these exercise periods following termination for any reason of your employment
or other service relationship with the Company. 
The Company will not provide further notice of such periods.

 

Transferability:  This Option may not be transferred.

 

Acceptance:  This
Grant may only be accepted by following the procedure below.  You
must accept the Grant before you can exercise the Option.  MAKE SURE YOU READ THE AGREEMENT CAREFULLY
PRIOR TO YOUR ACCEPTANCE.  If you
agree to the terms of the Agreement, follow the procedure below to officially
accept the Grant.

 

•      Go to the WealthViews
website: https://www.wealthviews.com/sync 

•      Log In using your USER ID
and PASSWORD

•      Click on “Grant History”
under the STOCK OPTIONS menu on the left-hand side of the screen. 

•      Click on “Pending” for each
of your grants 

•      Click the “I ACCEPT” button
on the bottom of each of your grant documents. 

 

By
your electronic acceptance of this Option Grant, you and the Company agree that
this option is granted under and governed by the terms and conditions of the
Agreement.

 

In addition, you agree
and acknowledge that your rights to any Shares underlying the Option will be
earned only as you provide services to the Company over time, that the grant of
the Option is not as consideration for services you rendered to the Company
prior to your Vesting Commencement Date, and that nothing in this Notice or the
Agreement documentation confers upon you any right to continue your employment,
consulting or other service relationship with the Company for any period of
time, nor does it interfere in any way with your right or the right of the
Company to terminate that relationship at any time, for any reason, with or
without cause.

 

6

 

	
  

  	
   

  
	
   

  
	
   

  
	
   

  
	
  EXHIBIT B

  
	
  EXERCISE NOTICE

  
	
   

  
	
   

  

 

Intellisync Corporation

2550 North First Street, Suite 500

San Jose, CA 95131

Attention:  Stock Administrator

 

1.     Exercise
of Option.  Effective as of today,                                 ,
          , the undersigned (“Purchaser”)
hereby elects to purchase                             
shares (the “Shares”) of the Common Stock of Intellisync Corporation
(the “Company”) under and pursuant to the 2005 Retention Stock Option
Agreement dated                             (the
“Award Agreement”).  The purchase
price for the Shares will be $                            ,
as required by the Award Agreement.

 

2.     Delivery
of Payment.  Purchaser herewith
delivers to the Company the full purchase price for the Shares and any required
withholding taxes to be paid in connection with the exercise of the Option.

 

3.     Representations
of Purchaser.  Purchaser acknowledges
that Purchaser has received, read and understood the Award Agreement and agrees
to abide by and be bound by its terms and conditions.

 

4.     Rights
as Stockholder.  Until the issuance
(as evidenced by the appropriate entry on the books of the Company or of a duly
authorized transfer agent of the Company) of the Shares, no right to vote or
receive dividends or any other rights as a stockholder will exist with respect
to the Shares subject to the Option, notwithstanding the exercise of the
Option.  The Shares so acquired will be
issued to Purchaser as soon as practicable after exercise of the Option.  No adjustment will be made for a dividend or
other right for which the record date is prior to the date of issuance.

 

5.     Tax
Consultation.  Purchaser understands
that Purchaser may suffer adverse tax consequences as a result of Purchaser’s
purchase or disposition of the Shares. 
Purchaser represents that Purchaser has consulted with any tax
consultants Purchaser deems advisable in connection with the purchase or
disposition of the Shares and that Purchaser is not relying on the Company for
any tax advice.

 

6.     Entire
Agreement; Governing Law.  The Award
Agreement is incorporated herein by reference. 
This Agreement and the Award Agreement constitute the entire agreement
of the parties with respect to the subject matter hereof and supersede in their
entirety all prior undertakings and agreements of the Company and Purchaser
with respect to the subject matter hereof, and may not be modified adversely to
the Purchaser’s interest except by means of a writing signed by the Company and
Purchaser.  This agreement is governed by
the internal substantive laws, but not the choice of law rules, of California.

 

	
  Submitted by:

  	
   

  	
  Accepted by:

  
	
   

  	
   

  	
   

  
	
  PURCHASER:

  	
   

  	
  INTELLISYNC CORPORATION

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Print Name:

  	
   

  	
   

  	
  Its:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Address:

  	
   

  	
   

  	
  Address:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Date Received:

  	
   

  	
   

  
										

 

7Exhibit 10.18

 

	
  September 15, 2005

  	
  

  
	
   

  
	
   

  
	
   

  
	
   

  
	
   

  
	
   

  
	
   

  
	
  David Eichler

  	
   

  

 

Re:          Employment
Offer

 

Dear David:

 

On behalf of Intellisync,
I am pleased to offer you the position of Chief Financial Officer.  This letter is intended to describe the terms
of our offer of employment to you.  We
anticipate that your start date will be on or before October 3, 2005.  You will report directly to me.  This is a full-time position, and you agree
to devote all of your business time and attention to the business of the Company
during the term of your employment.  This
offer is also contingent upon receipt of a satisfactory background check.

 

Your starting base salary
will be $225,000 per year, payable in accordance with the normal payroll
practices of the Company.  In addition
you will be eligible for an annual bonus of up to 30% of your salary for on
target performance, paid on a quarterly basis, according to a plan to be
developed by the Company.

 

As a full-time employee,
you will be eligible to participate in the Company’s medical, dental, life
insurance, and long-term disability programs as of the first day of your
employment.  You will also be eligible to
participate in Intellisync’s flexible spending account and 401(k) programs,
subject to normal eligibility and enrollment restrictions, as of the first day
of your employment.  The Company retains
the right to modify or change its benefits and compensation policies from
time-to-time, as it deems necessary.

 

In addition, it will be
recommended to the Company’s Board of Directors that you be granted an option
for 500,000 shares of common stock. 
Pursuant to Intellisync’s standard stock option agreement, your shares
will vest over a four year period, beginning on your start date, with 25% “cliff”
vesting at the end of the first year and the remainder vesting monthly during
your employment until fully vested.  The
exercise price shall be the fair market value of the shares on the date of the
option grant.  As an employee of
Intellisync, you will be subject to the Company’s Insider Trading Policy.  The Policy is attached to this letter for
your information.  Furthermore, as a
Section 16 officer of the Company, you will be subject to certain reporting
requirements and other applicable securities laws.

 

In addition, pending
Board approval, you will be eligible to enter into a change of control
agreement with the Company whereby you may receive twelve (12) months of
accelerated vesting of all outstanding stock options then held by you at the
time of a Change of Control; provided that your service shall not have
terminated for any reason, other than for Good Reason, (including without
limitation, for death or disability) prior to any such Change of Control.  This accelerated vesting benefit shall be
memorialized in a separate Change of Control agreement with Intellisync.

 

In addition, should the
Company terminate your position for any reason other than Good Reason, you
shall be entitled to receive, as a severance, six months continuation of your
base salary, subject to all payroll withholdings, based upon your base salary
as of the start date of

 

 

 

your
employment, provided that you first sign a comprehensive release of claims in
favor of the Company.

 

As used herein, a
termination for “Good Reason” means a termination if you have:

 

(a)        committed any serious breach or repeated or continued
(after warning) any material breach of your obligations hereunder;

 

(b)       been guilty of conduct tending to bring yourself
or the Company into disrepute;

 

(c)        failed to perform your duties to a satisfactory
standard after having received a written warning from the Company relating to
the same;

 

(d)       committed theft;

 

(e)        committed any criminal or civil acts prejudicial to the
Company whether or not committed in the course of your employment;

 

(f)        committed any other offence of a similar gravity
to the examples above, as these examples are neither exclusive nor exhaustive;

 

As an officer of
the Company, you will be expected to abide by the Company’s rules and
regulations.  We will ask you to sign and
comply with a proprietary information and nondisclosure agreement which
requires, among other provisions, the assignment of patent rights to any
invention made during your employment at the Company and nondisclosure of
proprietary information.  You will also be
required to submit satisfactory documentation respecting your identification
and right to work in the United States no later than three days after your
employment begins.  The easiest method of
satisfying this requirement is to provide a valid state driver’s license, and
either your Social Security card or a copy of your birth certificate.  If you do not have these documents, please
call Jackie Plant in our benefits department immediately to discuss what other
document will satisfy the requirements of this law.  You will be asked to submit this
documentation on your first day of employment.

 

It is the
understanding of both parties that your employment with the Company is “at
will,” and for no specific period, and accordingly may be terminated by either
party at any time for any reason, with or without cause.  This letter and its supporting agreements
(including the Proprietary Information and Inventions Agreement and Insider
Trading Policy, the terms of which are incorporated by reference herein)
constitutes the full and complete agreement between us regarding the terms of
your employment with the Company.  Any
contrary or inconsistent representations which may have been made or which may
be made to you are superseded by this offer. 
Any modifications of the terms set out herein must be in writing and
signed by yourself and an authorized representative of Intellisync.

 

If you accept this
offer, please sign this letter and the enclosed agreements, and return them to
Cheryl Borgonia, Director, Human Resources, by facsimile at (408)
321.3852.  This offer is contingent upon
your countersignature of this letter, the accompanying documents and a
satisfactory background check.  This
offer will remain open for three days from receipt.  If you have any questions, please contact me
directly.

 

2

 

David, we look
forward to having you join the Intellisync team.

 

Sincerely,

 

	
  /s/ WOODSON HOBBS

  	
   

  
	
  Woodson (Woody) Hobbs

  
	
  President & CEO

  

 

	
  Accepted and Agreed:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /s/ DAVID EICHLER

  	
   

  	
  Date: 

  	
  10/03/05

  	
   

  
	
  David Eichler

  	
   

  	
   

  

 

Attachments

 

A) Proprietary
Information and Inventions Agreement

B) Insider Trading Policy

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