Document:

Offer Letter Agreement with Alex Shootman

 Exhibit 10.4 
 

 
 October 16, 2006 
 Mr. Alex Shootman 
 9430 East Star Hill Trail 
 Lone Tree, Colorado 
 Dear Alex: 
 I
am pleased to extend to you an offer to join Vignette Corporation (“Vignette” or “the Company”) as our Senior Vice President of Worldwide Sales and Services, starting on October 20, 2006. In this capacity, you will perform
the duties, undertake the responsibilities and exercise the authority as customary for persons situated in a similar executive capacity. You will report directly to me, with a work location of Austin, Texas and you will promote the business of the
Company on a full time basis. 
 Your compensation will include the following: 
  

	 	•	 	A bi-weekly salary of $10,576.92 (which when calculated on an annual basis equals $275,000.00); 

  

	 	•	 	Annual performance based bonuses at a target of $225,000.00 as follows: 

  

	 	a.	Eligibility in the Executive Performance Bonus Plan (“Bonus Plan”) targeted at $125,000.00 annually. This bonus is paid out semi-annually based on the attainment of
individual and company performance goals set forth in the Bonus Plan and approved by our Board of Directors. Currently the maximum payout under the Bonus plan is 150% of target. 

  

	 	b.	Eligibility for an additional Sales and Service bonus targeted at $100,000.00 annually. This bonus will be paid out semi-annually based on attainment of license revenue and service
margin goals as agreed to by you and the Company and approved by our Board of Directors. Currently the maximum payout under this Sales and Service bonus is 150% of target. 

  

	 	c.	Please note that if your employment commences before October 23, 2006, you will be guaranteed a bonus of $50,000.00 for the fourth quarter of 2006 and your bonus for the first
half of 2007 will be guaranteed at a minimum payout of $50,000.00. 

  

	 	•	 	A signing bonus of $100,000.00 to be paid no later than January 30, 2007. In the event that you voluntarily terminate your employment within 24 months from Vignette for other
than “Good Reason” as defined below, then $65,000 of this amount will be repaid by you to the Company. You hereby agree that the Company may deduct any amount of this bonus repayment which has not already been repaid from any final
compensation owed to you upon your departure. 

 1301 South MoPac Expressway, Suite 100, Austin, TX 78746 
 Phone: 888.608.9900/Fax 512.741.1403/E-mail; info@vignette.com 

	 	•	 	150,000 stock options through the Vignette Corporation Stock Option Plan granted as follows: 

  

	 	a.	100,000 stock options with a four year vesting schedule, with twenty five percent of the shares vesting on the first anniversary date of the grant, and an additional 6.25% of this
grant vesting quarterly thereafter. 

  

	 	b.	An additional 50,000 stock options through the Vignette Corporation Stock Option Plan that will vest subject to annual revenue and margin performance criteria. Subject to
appropriate accounting and compliance treatment, such shares will be issued toward the start of your employment and will have a four year vesting schedule, with twenty five percent of the shares vesting on January 31, 2008 if the revenue and
margin performance criteria are achieved for the fiscal year 2007. An additional 25% of this grant will vest annually thereafter on January 31 2009, 2010 and 2011, if the applicable annual revenue and margin performance criteria from the prior
fiscal year have been achieved. Each year of vesting will be subject to the performance criteria established for the prior fiscal year and any options which did not vest because of failure to meet the performance criteria will be permanently
forfeited. These additional options do no limit your ability to receive additional discretionary option grants as approved by the Compensation Committee in the future. 

  

	 	c.	25,000 shares of restricted stock granted through the Vignette Corporation Stock Option Plan which will vest as follows: 5,000 shares will vest on the first anniversary of the grant
date; another 5,000 shares which will vest on the second anniversary of the grant date; and the remaining 15,000 shares will vest on the third anniversary of the grant date. 

  

	 	d.	All option and restricted stock grants will be subject to the terms of separate Stock Option and Restricted Stock Agreements and offers which will be provided to you after approval
by the Compensation Committee of Vignette’s Board of Directors. 

  

	 	•	 	Eligibility for you and your family to participate in all of the benefits provided to Vignette’s employees and executives. This will include four (4) weeks of annual
vacation per year under the Company’s vacation policy; 

  

	 	•	 	A relocation package to assist you in your move to Austin, Texas. This package will include a house hunting trip for you and your family, movement of your personal goods, home sale
and purchase assistance and up to sixty days of temporary lodging. Specific details of the items covered and the process for reimbursement will be provided to you by the Company. This relocation package will have a maximum cash payout of $150,000
that will be grossed up for tax purposes. It will also be subject to full repayment should you voluntarily terminate your employment within 24 months of your final move to Austin, TX. 

  

 Page 2 

 Should your employment with Vignette be terminated without “Cause” or for “Good
Reason,” after the date of your permanent relocation to Austin Texas, you will receive mitigating severance payments in the equivalent of twelve months of salary, to be paid over a twelve month period on Vignette’s regular payroll schedule
with payment contingent upon execution of a Separation Agreement approved by Vignette, which will include appropriate releases, and restrictive covenants including non compete, no hire and non solicitation clauses of a duration equal to the twelve
month severance period. In the event of such a termination, you agree to use all reasonable efforts to find replacement employment. If you are hired by any other employer, at any time during the severance payment period, your severance payments will
cease as of the effective date of such hire. In the event that you have permanently relocated to Austin Texas, and are terminated without “Cause” or for “Good Reason”, during the first 12 months of your employment with the
Company, you will receive a guaranteed payment of 50% of your target Executive Performance Bonus in addition to the 12 months of salary outlined above, subject to the same requirement for an appropriate Separation Agreement. Any prior bonus payment
received, whether earned or paid pursuant to the other guarantees set forth herein will be considered in determining the amount to be paid under this provision. These severance payments will be made in substantially equal amounts paid out over
twelve (12) months and pursuant to the Company’s normal payroll cycles. 
 “Cause” for purposes of this Agreement shall
be defined as your termination as a direct result of any of the following events which remains uncured after 15 days from the date of notice of such breach to you or which cannot by its nature be cured: (a) material misconduct that results in
material harm to the business of the Company; (b) material and repeated failure to perform duties or to achieve sales and margin targets assigned by the CEO or the Board of Directors, which failure is not a result of a disability and results in
material harm to the business of the Company; (c) any material breach of the Company’s policies, particularly those related to business ethics and compliance or breach of the Proprietary Inventions Agreement; or (e) failure to
permanently relocate to Austin Texas within nine (9) months of the start of your employment. 
 “Good Reason” for purposes of
this Agreement shall be defined as your resignation as a direct result of any of the following events: (i) any material breach by the Company of any provision of this Agreement, which breach is not cured within fifteen (15) days following
written notice of such breach from you; (ii) a substantial reduction of responsibilities following the occurrence of a Change of Control (as defined below) of the Company ; or (iii) any relocation of the Company’s headquarters office
more than fifty (50) miles from its site as of the date of this letter. 
 Change of Control for purposes of this Letter Agreement shall
be defined as (i) the acquisition of fifty percent (50%) or more of the beneficial ownership interests, or fifty percent (50%) or more of the voting power, of the Company, either directly or indirectly, in one or a series of related
transactions, by merger, purchase or otherwise, by 

  

 Page 3 

 
any person or group of persons acting in concert (including, without limitation, any one or more individuals, corporations, partnerships, trusts, limited
liability companies or other entities); (ii) the disposition or transfer, whether by sale, merger, consolidation, reorganization, recapitalization, redemption, liquidation or any other transaction, of fifty percent (50%) or more by value
of the assets of the Company in one or a series of related or unrelated transactions over time. 
 You hereby represent that you are under no
obligation from your current employer which would limit or prevent your employment by Vignette or your ability to perform the role contemplated by this offer letter. You also represent that all the information you have provided the Company regarding
your educational and professional credentials and your prior compensation and equity holdings from prior employers are complete and correct. Any violation of these representations will be an additional basis for your termination for
‘Cause’ as set forth herein. 
 This offer of employment is contingent upon your execution of this Letter, Employment Application, PRSI Background Check, and satisfaction of the
requirements of an I-9 Employment Eligibility Verification Form. Please understand that employment remains “at will”, and neither this letter nor the Stock Option Plan create an employment contract with you. 
 I am looking forward to having you as a key member of the Vignette management team. Our market is moving quickly and we have a lot of work to do.

  

	
	Sincerely,
	
	

	Michael A. Aviles
	President and
	Chief Executive Officer
	Vignette Corporation

 EMPLOYEE ACCEPTANCE 
 The signing of this letter acknowledges the acceptance of the offer contained herein: 
  

					
	

	 		 	20 Oct 2006
	Employee Signature	 		 	Date

  

									
	/s/ Alex Shootman	 		 		 	
	Print Name	 		 		 	

  

 Page 4Second Amendment, dated as of October 25, 2006

 Exhibit 10.2 
 SECOND AMENDMENT TO THE AMENDED AND RESTATED CREDIT AND 
 SECURITY AGREEMENT 
 THIS SECOND AMENDMENT TO THE AMENDED AND RESTATED CREDIT AND SECURITY AGREEMENT, dated as of October 25, 2006 (this
“Amendment”), is by and among Red Bird Receivables, Inc., as Borrower (“Borrower”), International Paper Financial Services, Inc., as Servicer (“Servicer”), International Paper
Company, as Performance Guarantor (“Performance Guarantor”), The Bank of Tokyo-Mitsubishi UFJ, Ltd., New York Branch (formerly known as The Bank of Tokyo-Mitsubishi, Ltd., New York Branch), as a Co-Agent, JPMorgan Chase Bank,
N.A., as a Co-Agent, BNP Paribas, New York Branch, as a Co-Agent, Starbird Funding Corporation, Citicorp North America, Inc., as a Co-Agent and Wachovia Bank, National Association, as a Co-Agent and as administrative agent (in its capacity as
administrative agent, the “Administrative Agent”). Capitalized terms used and not otherwise defined herein shall have the meanings attributed thereto in the Credit Agreement (as defined below). 
 PRELIMINARY STATEMENTS 
 WHEREAS, Borrower, Servicer, Performance Guarantor, the Conduits, the Co-Agents, the Liquidity Banks and Administrative Agent are parties to that certain Amended and Restated Credit and Security Agreement, dated as of
November 17, 2004 (as amended or otherwise modified from time to time, the “Credit Agreement”); 
 WHEREAS, Preferred Receivables Funding Company LLC, formerly known as Preferred Receivables Funding Corporation (“PREFCO”), has assigned all of its right, title and interest in, to and under the Credit
Agreement and the other Transaction Documents to Park Avenue Receivables Company, LLC (“PARCO”); 
 WHEREAS, the Loan Parties desire to amend the Credit Agreement as hereinafter set forth; and 
 WHEREAS,
Agents are willing to agree to such amendments on the terms and subject to the conditions set forth in this Amendment; 
 NOW,
THEREFORE, in consideration of the foregoing premises and the mutual agreements herein contained and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows:

 1. Amendments. 
 (a) All
references in the Credit Agreement to “The Bank of Tokyo-Mitsubishi, Ltd.,” “The Bank of Tokyo-Mitsubishi, Ltd., New York Branch” or “BTM” (whether alone or a part of another defined term) are hereby replaced with
“The Bank of Tokyo-Mitsubishi UFJ, Ltd., New York Branch” and “BTMU”, respectively. 

 (b) All references in the Credit Agreement to “Preferred Receivables Funding Corporation” and
“PREFCO” (whether alone or a part of another defined term) are hereby replaced with “Park Avenue Receivables Company, LLC” and “PARCO,” respectively. 
 (c) The second recital in the Credit Agreement is hereby amended and restated in its entirety to read as follows: 
 Borrower has asked the PARCO Group, the Starbird Group and the CAFCO Group to become Lenders under the Existing Agreement. On the terms
and subject to the conditions hereinafter set forth, VFCC, PARCO, Starbird and CAFCO may, in their absolute and sole discretion, make Loans to Borrower from time to time, and Gotham shall make Loans to Borrower from time to time. 
 (d) Section 14.5(b) of the Credit Agreement is hereby amended and restated in its entirety to read as follows 
 (b) Anything herein to the contrary notwithstanding, each Loan Party hereby consents to the disclosure of any nonpublic information with
respect to it (i) to any Agent, the Liquidity Banks or any Conduit by each other, (ii) to any prospective or actual assignee or Participant of any of them, (iii) to any rating agency who rates any Conduit’s Promissory Notes or
other debt securities or to any Promissory Note dealer, (iv) to any provider of a surety, guaranty or credit or liquidity enhancement to any Conduit or any entity organized for the purpose of purchasing, or making loans secured by, financial
assets for which Wachovia, BTMU, JPMorgan, BNP Paribas or Citibank or any of their respective Affiliates acts as the administrative agent (each of the foregoing, an “Enhancer”), and (iv) to any officers, directors,
employees, outside accountants, advisors and attorneys of any of the foregoing, provided that each such Person is informed of the confidential nature of such information and (except in the case of a Person described in clause
(iii) above) agrees to maintain the confidential nature of such information. In addition, the Lenders, the Agents and the Enhancers may disclose any such nonpublic information pursuant to any law, rule, regulation, direction, request or order
of any judicial, administrative or regulatory authority or proceedings (whether or not having the force or effect of law). 

 (e) The following definitions in Exhibit I to the Credit Agreement are hereby amended and restated
in their entirety to read, respectively as follows: 
 “CP Rate” means: 
 (a) with respect to each of the Pool Funded Conduits for any CP Tranche Period, the per annum interest rate that, when applied to
the outstanding principal balance of such Pool Funded Conduits’ CP Rate Loans for the actual number of days elapsed in such CP Tranche Period, would result in an amount of accrued interest equivalent to such Pool Funded Conduits’ CP Costs
for such CP Tranche Period; and 
 (b) with respect to Gotham, unless it has notified the Loan Parties that it will be pool
funding its Loans, for any CP Tranche Period and with respect to any Loan (or portion thereof) funded by Commercial Paper notes issued by Gotham, a rate per annum calculated by the Gotham Agent to reflect Gotham’s cost of funding such
Loan (or portion thereof), taking into account the weighted daily average interest rate payable in respect of such Commercial Paper during such CP Tranche Period (determined in the case of discount Commercial Paper by converting the discount to an
interest-bearing equivalent rate per annum), applicable placement fees and commissions, and such other costs and expenses as the Gotham Agent in good faith deems appropriate. Such Commercial Paper may be issued in such maturities as the
Gotham Agent may choose in accordance with Article II hereof. Gotham’s CP Rate shall be determined by the Gotham Agent, in its sole discretion. 
 “Facility Termination Date” means the earliest of (i) October 25, 2009, (ii) the occurrence of the applicable Liquidity Termination Date for any of the Conduits, and
(iii) the Amortization Date. 
 “Liquidity Termination Date” means: 
 (a) as to the Gotham Group, October 25, 2009 (unless such date is extended from time to time in the sole discretion of the Gotham
Liquidity Banks); and 
 (b) as to the VFCC Group, the earlier to occur of (i) October 25, 2009 (unless such date is
extended from time to time in the sole discretion of the VFCC Liquidity Banks); and (ii) the date on which a Downgrading Event with respect to a VFCC Liquidity Bank shall have occurred and been continuing for not less than 30 days, and either
(A) the Downgraded Liquidity Bank shall not have been replaced by an Eligible Assignee pursuant to the VFCC Liquidity Agreement, or (B) the Liquidity Commitment of such Downgraded Liquidity Bank shall not have been funded or collateralized
in such a manner that will avoid a reduction in or withdrawal of the credit rating applied to the Commercial Paper to which such Liquidity Agreement applies by any of the rating agencies then rating such Commercial Paper. 

 (c) as to the PARCO Group, October 25, 2009 (unless such date is extended from time
to time in the sole discretion of the PARCO Liquidity Banks). 
 (d) as to the Starbird Group, October 25, 2009 (unless
such date is extended from time to time in the sole discretion of the Starbird Liquidity Banks). 
 (e) as to the CAFCO Group,
October 25, 2009 (unless such date is extended from time to time in the sole discretion of the CAFCO Liquidity Banks). 
 “Pool Funded Conduits” means VFCC, PARCO, Starbird, CAFCO and, during any time as to which it has notified the Loan Parties that it will be pool funding its Loans, Gotham. 
 (f) Schedule A to the Credit Agreement is hereby amended and restated in its entirety to read as set forth in Schedule A hereto. 
 2. Representations and Warranties. In order to induce the other parties to enter into this Amendment, each of the Loan Parties hereby represents
and warrants as follows: 
 (a) The execution and delivery by such party of this Amendment, and the performance of its
obligations under the Credit Agreement as amended hereby, are within such party’s organizational powers and authority and have been duly authorized by all necessary organizational action on its part; and 
 (b) This Amendment has been duly executed and delivered by such party, and the Credit Agreement, as amended hereby, constitutes such
party’s legal, valid and binding obligation, enforceable against such party in accordance with its terms, except as such enforcement may be limited by applicable bankruptcy, insolvency, reorganization or other similar laws relating to or
limiting creditors’ rights generally and by general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or at law). 
 3. Conditions Precedent. This Amendment shall become effective as of the date first above written upon (a) execution and delivery to the Administrative Agent of a counterpart hereof by each of the parties
hereto, (b) execution and delivery to each of the Co-Agents of a counterpart of an amendment and restatement of its Fee Letter by each of the parties thereto, and (c) execution and delivery to each of the Co-Agents of a counterpart of an
amendment to its Conduit’s Liquidity Agreement by the parties thereto extending the Liquidity Commitment(s) thereunder until October 25, 2009. (By its signature on this Amendment, each of the Co-Agents represents that its Group has
executed and delivered the amendment described in clause (c) immediately above). 

 4. Miscellaneous. 
 (a) CHOICE OF LAW. THIS AMENDMENT SHALL BE GOVERNED AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAWS THEREOF OTHER THAN SECTION
5-1401 OF THE GENERAL OBLIGATIONS LAW. 
 (b) Counterparts. This Amendment may be executed in any number of counterparts and by
different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall constitute one and the same agreement. 
 (c) Ratification. Except as expressly amended hereby, each of the Credit Agreement and the Performance Undertaking remains unaltered and in full
force and effect and is hereby ratified and confirmed. 
 <Signature pages follow> 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed and
delivered by their duly authorized officers as of the date hereof. 
  

			
	RED BIRD RECEIVABLES, INC., AS BORROWER
		
	By:	 	 /s/ Lillian Shou

	Name:	 	Lillian Shou
	Title:	 	VP & Treasurer
	
	 INTERNATIONAL PAPER FINANCIAL
 SERVICES,
INC., AS SERVICER

		
	By:	 	 /s/ David A. Riposo

	Name:	 	David A. Riposo
	Title:	 	Treasurer
	
	 INTERNATIONAL PAPER COMPANY, AS
 PERFORMANCE GUARANTOR

		
	By:	 	 /s/ Errol Harris

	Name:	 	Errol Harris
	Title:	 	VP & Treasurer

  

 Second Amendment to CSA 

			
	 WACHOVIA BANK, NATIONAL
 ASSOCIATION,
AS VFCC AGENT AND AS
 ADMINISTRATIVE AGENT

		
	By:	 	 /s/ Michael J. Landry

	Name:	 	Michael J. Landry
	Title:	 	Vice President

  

 Second Amendment to CSA 

			
	 THE BANK OF TOKYO-MITSUBISHI UFJ,
 LTD., NEW
YORK BRANCH, AS GOTHAM AGENT

		
	By:	 	 /s/ Aditya Reddy

	Name:	 	Aditya Reddy
	Title:	 	VP

  

 Second Amendment to CSA 

			
	 JPMORGAN CHASE BANK, N.A., AS PREFCO
 AGENT AND PARCO AGENT

		
	By:	 	 /s/ John M. Kuhns

	Name:	 	John Kuhns
	Title:	 	Vice President

  

 Second Amendment to CSA 

			
	STARBIRD FUNDING CORPORATION
		
	By:	 	 /s/ Franklin P. Collaze

	Name:	 	Franklin P. Collaze
	Title:	 	Secretary
	
	 BNP PARIBAS, ACTING THROUGH ITS NEW
 YORK
BRANCH, AS A LIQUIDITY BANK AND AS
 STARBIRD
AGENT

		
	By:	 	 /s/ Sean Reddington

	Name:	 	Sean Reddington
	Title:	 	Managing Director
		
	By:	 	 /s/ Michael Gonik

	Name:	 	Michael Gonik
	Title:	 	Director

  

 Second Amendment to CSA 

			
	 CITICORP NORTH AMERICA, INC., AS CAFCO
 AGENT

		
	By:	 	 /s/ Debbie Ng

	Name:	 	Debbie Ng
	Title:	 	Vice President

  

 Second Amendment to CSA 

 SCHEDULE A 
 COMMITMENTS 
  

			
	 COMMITTED
LENDER
	  	 COMMITMENT

	VFCC Group	  	None
		
	VFCC Liquidity Banks	  	$250,000,000
		
	Gotham	  	$250,000,000 (less amounts funded under BTMU’s Commitment)
		
	BTMU	  	$250,000,000 (less amounts funded under Gotham’s Commitment)
		
	PARCO Liquidity Banks	  	$166,666,667
		
	Starbird Liquidity Banks	  	$166,666,667
		
	CAFCO Liquidity Banks	  	$166,666,667

  

 Second Amendment to CSA

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