Document:

Exhibit 10.11

 

 

 

May 5, 2015

 

VIA E-MAIL

Mr. Michael Farlekas

64 Mountainside Road

Mendham, NJ 07945

 

		Re:	Offer of Employment

 

Dear Michael,

 

I am delighted that
you are interested in joining the talented team of people at E2open, LLC (the “Company”). We are pleased to formally
confirm our offer to you to join the Company as the Chief Operating Officer, initially reporting to the Chairman of the Board
of Directors of Eagle Parent Holdings, LLC (“Eagle”), the ultimate parent of the Company, and once a Chief Executive
Officer is appointed, the Chief Executive Officer. For purposes of this letter, your employment commencement date will be May
1, 2015.

 

Principal Place
of Employment

 

Your principal place
of employment shall be in the San Francisco/Bay area or other existing Company location, although you understand and agree that
you may be required to travel from time to time for business reasons. You further understand and agree that, prior to your relocation,
you will be required to spend sufficient time at the Company’s offices to effectively perform your duties and responsibilities
and to supervise, manage and motivate your direct reports. Should you relocate to the vicinity of one of the Company’s offices,
you will be entitled to relocation assistance in accordance with the Company’s relocation policies for executive officers.

 

Base Salary

 

You will receive an
annual salary of $250,000, retroactive to your employment commencement date, paid semi-monthly in accordance with the Company’s
regular payroll practices. If you are appointed as the Chief Executive Officer of the Company (the date of such appointment, the
 “Appointment Date”), your annual salary will be increased to $300,000.

 

Annual Bonus

 

During each fiscal
year of your employment with the Company, you will be eligible to participate in the relevant E2open incentive plan for your position,
with a target bonus amount equal to $225,000. The actual bonus amount will be based upon achievement of Company and individual
performance targets established by the board of directors of Eagle (the “Board”) for the fiscal year to which
the bonus relates after consultation with you; provided, however, that any bonus payable in respect of the Company’s fiscal year
ending February 28, 2016, shall be pro 14336116.6 rated to reflect the portion of time you are employed hereunder during such
fiscal year. If you are appointed as the Chief Executive Officer of the Company, your target bonus amount for the Company’s fiscal
year ending February 28, 2017 will be $350,000. The payment of any annual bonus described herein will be made at the same time
annual bonuses are generally paid to other senior executives of the Company, and will be subject to your continued employment
with the Company through the applicable payment date.

 

[14.5.1.12] [Farlekas
Employment Agreement.pdf ] [Page 1 of 7]

 

    

     

    

 

 

 

Employee Benefits

 

As a Company employee, beginning as of your employment
commencement date, you are eligible to receive paid time off/vacation and employee benefits available to employees at your position
under the Company’s policies and benefit programs. The Company expressly reserves the right to amend, modify or terminate the benefit
plans, policies and programs it offers to its employees at any time in accordance with their terms or to cease providing such benefit
plans, policies or programs.

 

Equity Grants

 

Under our equity program,
subject to the approval of the Board, you will be entitled to a onetime equity grant of an approximate 1.2% interest in Eagle (the
“COO Grant”), pursuant to and subject to the terms and conditions of Eagle’s equity incentive plan and an award
agreement evidencing such grant. If you are appointed as the Chief Executive Officer of the Company, subject to the approval of
the Board, you will receive an additional equity grant of an approximate 1.8% interest in Eagle (the “CEO Grant” and,
together with the COO Grant, the “Equity Grants”)), pursuant to and subject to the terms and conditions of Eagle’s
equity incentive plan and an award agreement evidencing such grant. The grants likely will be in the form of an equity appreciation
award, such as a stock option, as determined by the Board, and the Board will consider award types that enable you to achieve long
term capital gains treatment with respect to these grants.

 

Subject to your continued
employment through each applicable vesting date, the Equity Grants will vest based solely on the passage of time, with 25% vesting
on the first anniversary of your vesting commencement date, which will be your employment commencement date for the COO Grant and
the Appointment Date for the CEO Grant (such date, the “Vesting Commencement Date”), and the remainder vesting
in substantially equal quarterly annual installments during the next three (3) years. Notwithstanding the foregoing, should a “change
in control” (as defined in Eagle’s equity incentive plan) occur while you are employed by the Company, your Equity Grants
will vest as follows:

 

		·	if such “change in control” occurs on or prior to the two (2)
year anniversary of the Vesting Commencement Date, the portion of the Equity Grant that would have vested on or before such anniversary
will be vested effective as of the “change in control,” and the remaining unvested portion of such Equity Grants will
vest, subject to your continued employment through each applicable vesting date, ratably in equal quarterly installments, rounded
down to the nearest whole share, commencing on the first quarterly anniversary
of the Vesting Commencement Date next following such “change in control,” such that the entire Equity Grant will be fully
vested as of the fourth anniversary of the Vesting Commencement Date; provided, however, that should your employment with
the Company be terminated by the Company (other than for Cause (as defined below), or as a result of your death or permanent disability))
after such “change in control,” the then unvested portion of the Equity Grants will become fully vested as of the date
of such termination; and

 

[14.5.1.12] [Farlekas
Employment Agreement.pdf ] [Page 2 of 7]

 

    2

     

    

 

 

 

		·	if such “change in control” occurs after the two (2) year anniversary
of the Vesting Commencement Date, should your employment with the Company be terminated by the Company (other than for Cause, or
as a result of your death or permanent disability)) after such “change in control,” any then-unvested portion of the
Equity Grant will become fully vested as of the “change in control.”

 

In addition, if you are
appointed as the Chief Executive Officer of the Company, subject to the approval of the Board, you will receive an additional equity
grant of an approximate 0.50% interest in Eagle, pursuant to and subject to the terms and conditions of Eagle’s equity incentive
plan and an award agreement evidencing such grant, which will vest based on the achievement of a 3.5x return to the Company’s equity
investors upon a liquidity event, subject to your continued employment through such event.

 

Any accelerated vesting
of your Equity Grants in connection with a termination of your employment will be conditioned upon your execution, delivery to
the Company, and non-revocation of a general release in favor of the Company and its affiliates (in a form satisfactory to the
Company).

 

Severance Benefits

 

Although the Company expressly reserves
the right to terminate your employment at any time, with or without cause or advance notice and for any reason, should your
employment with the Company be terminated by the Company (other than for Cause, or as a result of your death or permanent
disability)), the Company will (i) continue to pay you your base salary as in effect at the time of such termination for the
greater of: (x) the remainder of the twelve (12) month period following your employment commencement date; and (y) the six
(6) month period following the date of such termination if, prior to such termination, you have permanently relocated to one
of the Company’s offices in Foster City, San Jose, Dallas or Austin, in each case, payable in substantially equal
installments in accordance with the Company’s regular payroll practices beginning with the first regular payroll date
following your last date of employment (such period, the “Severance Period”) and (ii) continue to pay you an
additional monthly amount equal to $1,900 for the Severance Period (or, if earlier, until you become eligible to receive
healthcare coverage from a subsequent employer), in accordance with the Company’s regular payroll practices beginning with
the first regular payroll date following your last date of employment, to defray costs to you associated with continued
healthcare coverage for you and your eligible dependents, although you may use such funds in any manner you see fit; provided,
however, in the event that any regular payroll date occurs prior to the effective date of the required release of claims
required in the next paragraph, any amount that would otherwise have been payable under this paragraph shall be deferred and
paid together with the regular salary installment on the first regular payroll date following such effective date (the “Severance
Benefits”).

 

[14.5.1.12] [Farlekas
Employment Agreement.pdf ] [Page 3 of 7]

 

    3

     

    

 

 

 

Notwithstanding any provision herein to the
contrary, the payment or provision of the Severance Benefits shall be conditioned upon (A) your execution, delivery to the Company,
and non-revocation of a general release in favor of the Company and its affiliates (in a form satisfactory to the Company) within
twenty-one (21) days (or in the event of that such termination is “in connection with an exit incentive or other employment
termination program,” forty-five (45) days) following the date of termination and your non-revocation of such release during
the applicable revocation period, and (B) your continued compliance with the terms of the Proprietary Information Agreement (referenced
below). If your date of termination and the last day of the applicable revocation period could fall in two separate taxable years,
regardless of when you actually execute the release, payments will not commence until the later taxable year. Each installment
described in this paragraph (and all other payments to be made in installments as a result of this letter) shall be deemed to be
a separate payment for purposes of Section 409A of the Internal Revenue Code of 1986, as the same may be amended from time to time.
The Severance Benefits are your sole and exclusive remedy if your employment with the Company is terminated by the Company (other
than for Cause, or by reason of your death or disability) and shall immediately cease should you fail to comply with the terms
of the Proprietary Information Agreement.

 

For purposes of this letter, “Cause” means
(i) your material act or acts of personal dishonesty taken in connection with your responsibilities as an employee; (ii) your
gross negligence or willful misconduct in respect of your performance of your duties to the Company; (iii) your engagement in
conduct that results, or could be reasonably expected to result, in material injury to the reputation or business of the
Company or any its affiliates (collectively, the “Company Group”); (iv) your misappropriation of the assets
or business opportunities of the Company or any other member of the Company Group; (v) act or acts of embezzlement or fraud
committed by you, or at your direction, or with your prior personal knowledge; (vi) your conviction by a court of competent
jurisdiction of, or pleading “guilty” or “no contest” to, (x) a felony, or (y) any other criminal charge
(other than minor traffic violations) that has, or could be reasonably expected to have, a material adverse impact on the
performance of your duties to the Company, or that results, or could reasonably be expected to result, in a material injury
to the reputation or business of the Company or any other member of the Company Group; (vii) your habitual or repeated
neglect of, or failure to perform, your duties to the Company or any other member of the Company Group; or (viii) your breach
of any material provisions of this letter or the Proprietary Information Agreement or material breach of any of the Company
Group’s written code of conduct, code of ethics or any other material written policy or of a fiduciary duty or responsibility
to the Company Group. Any Cause termination will be effective upon written notice; provided, however, that with respect to
any Cause termination relying on clauses (i), (ii), (iii) or (vii) above, if the event giving rise to Cause is subject to
cure, the Company will be required to provide fifteen (15) days’ advanced written notice and such termination will not be
effective if you have cured the Cause event within such fifteen (15) day notice period. If, within ninety (90) days
subsequent to your termination for any reason other than by the Company for Cause, the Board after investigation determines
that your employment could have been terminated for Cause, your employment will be deemed to have been terminated for Cause
for all purposes under this letter, and you will be required to disgorge to the Company all amounts received by you pursuant
to this letter or otherwise on account of such termination that would not have been payable to you had such termination been
by the Company for Cause.

 

[14.5.1.12] [Farlekas
Employment Agreement.pdf ] [Page 4 of 7]

 

    4

     

    

 

 

 

At-Will Employment

 

Your employment with the Company will be voluntarily
entered into and will be for no specified period, also known as “at-will” employment. As a result, you will be free to
resign at any time, for any reason or for no reason, as you deem appropriate. We request that, in the event of resignation, you
give the Company at least two weeks notice. The Company will have a similar right and may terminate its employment relationship
with you at any time, with or without cause or advance notice. Upon any termination of your employment for any reason, except as
may otherwise be requested by the Company in writing and agreed upon in writing by you, you shall be deemed to have resigned from
any and all directorships, committee memberships, and any other positions you hold with any member of the Company Group and will
execute all documents reasonably requested for you to confirm such resignations.

 

Employment Eligibility

 

This employment offer is
contingent upon the successful completion of the Company’s background and reference checks. For purposes of federal immigration
law, you will be required to provide to the Company documentary evidence of your identity and eligibility for employment in the
United States. Such documentation must be provided to us within three business days of your date of hire, or our employment relationship
with you may be terminated.

 

This employment offer is also contingent upon
the understanding that (1) your joining our Company will not violate any agreement to which you are or have been a party and that
you will have obtained a satisfactory disposition of any restrictions you may have on your activities with your current or former
employer(s) as determined by the Company; (2) you will neither use nor disclose to our Company any confidential or proprietary
information obtained from a third party prior to your joining our Company; and (3) you will comply with all applicable Company
policies and professional standards of our Company

 

Taxes

 

The Company may
withhold from any payments made to you under this letter or otherwise all federal, state, city or other taxes, including but
not limited to income, employment, and social insurance taxes, as the Company is required to withhold pursuant to applicable
law, regulation or ruling. Notwithstanding any other provision of this letter, the Company shall not be obligated to
guarantee any particular tax result for you with respect to any payment provided to you hereunder, and you shall be
responsible for any taxes imposed on you with respect to any such payment.

 

[14.5.1.12] [Farlekas
Employment Agreement.pdf ] [Page 5 of 7]

 

    5

     

    

 

 

 

Other

 

To
indicate your acceptance of the Company’s offer, please sign and date this letter in the space provided and return it to me at
the address listed below. A duplicate original is enclosed for your records. Upon acceptance of our offer, your first day of employment
will be within thirty (30) days of the date of this letter, unless otherwise indicated below. You will be required to sign the
Company’s current form of Proprietary Information Agreement as a condition of your employment. This letter, along with any agreements
relating to proprietary rights between you and the Company, set forth the terms of your employment with the Company and supersede
any prior representations or agreements, whether written or oral. This letter may not be modified or amended except by a written
agreement signed by the Company and by you.

 

This offer of employment will terminate
if not accepted, signed and returned by close of business on May 1, 2015 unless the Company agrees to employ your services after
such expiration date.

 

[Signature Pages Follow]

 

[14.5.1.12] [Farlekas
Employment Agreement.pdf ] [Page 6 of 7]

 

    6

     

    

 

 

 

Again, I am excited about working
together and making E2open, LLC a major success for all employees and shareholders.

 

	Sincerely,	 
	 	 
	/s/ Ross Devor	 
	Ross Devor	 
	Vice President	 
	E2open, LLC	 

 

I have read, understand and accept the terms and conditions
of this employment offer:

 

	/s/ Michael Farlekas	 
	Michael Farlekas	 
	Date:	5-6-15	 

 

[Signature Page to Farlekas Employment
Offer Letter]

 

[14.5.1.12] [Farlekas Employment Agreement.pdf ] [Page 7 of
7]Exhibit
10.12

 

 

July
27, 2015

 

VIA
E-MAIL 

Mr.
Michael Farlekas

64
Mountainside Road

Mendham,
New Jersey 07945

 

		Re:	Amendments
                                         to Employment Arrangements

 

Dear
Michael,

 

The
purpose of this letter (this “Amendment”) is to amend, effective as of August 1, 2015, that certain letter agreement
(the “Employment Agreement”), dated May 5, 2015, between you and E2open, LLC (the “Company”)
and your Employee Proprietary Information Agreement, dated May 6, 2015 (the “Proprietary Information Agreement”).
Capitalized terms that are not defined in this Amendment shall have the meanings ascribed thereto in the Employment Agreement.

 

Position

 

Effective
as of August 1, 2015, you will be appointed as the Chief Executive officer of the Company, reporting to the Chairman of the Board
of Directors of Eagle Parent Holdings, LLC (“Eagle”), the ultimate parent of the Company.

 

Annual
Bonus

 

For
the Company’s fiscal year ending February 28, 2016, you will receive an annual bonus of not less than $225,000, pro-rated to reflect
the portion of time you are employed by the Company during such fiscal year (i.e., the period May 1, 2015 through February 28,
2016). Commencing with the Company’s fiscal year ending February 28, 2017, your target annual bonus amount will be $350,000.

 

Reimbursement
of Living Expenses

 

During
the one year period commencing on August 1, 2015, the Company will reimburse you up to $3,500 per month, in arrears, to defray
monthly living expenses while you maintain your principal residence in Mendham, New Jersey. This payment is conditioned upon your
spending four days per week in Austin, Texas, when you are not otherwise travelling on Company business.

 

[14.5.1.11]
[Farlekas Amendment to Employment Agreement.pdf] [Page 1 of 4]

 

    

     

    

 

 

 

Equity
Grants

 

Under
our equity program, subject to the approval of the Board, you will be entitled to the CEO Grant and the additional 0.50% interest
in Eagle which vests based on the achievement of a 3.5x return to the Company’s equity investors upon a liquidity event, subject
to your continued employment through such event, pursuant to and subject to the terms and conditions of Eagle’s equity incentive
plan and an award agreement evidencing such grants as well as the terms specified in the Employment Agreement. Notwithstanding
anything in the Employment Agreement to the contrary, subject to your continued employment through each applicable vesting date,
the CEO Grant will vest based solely on the passage of time, with 25% vesting on February 1, 2017 and the remainder vesting in
substantially equal quarterly annual installments during the two and one-half (21/2) years after such cliff
vesting date.

 

Severance
Benefits

 

Notwithstanding
anything in the Employment Agreement to the contrary, solely for purposes of the Company’s obligation to continue to pay you your
base salary (and, for the avoidance of doubt, not for purposes of any additional amounts payable to you), the Severance Period
will be the greater of: (x) the remainder of the twelve (12) month period following your employment commencement date; and (y)
the nine (9) month period following the date of such termination, without regard to whether you have permanently relocated to
one of the Company’s offices in Foster City, San Jose, Dallas or Austin.

 

Non-compete
 

 

Notwithstanding
anything in the Proprietary Information Agreement to the contrary, you agree and acknowledge that, to the extent applicable, the
non-competition restrictions in the Proprietary Information Agreement will apply during the term of your employment with the Company
and for a period of nine (9) months immediately following the termination of your relationship with the Company for any reason.

 

Ratification
and Confirmation of Employment Arrangements

 

Except
as specifically amended hereby, the Employment Agreement and the Proprietary Information Agreement are hereby ratified and confirmed
in all respects and remain in full force and effect. Whenever the Employment Agreement or the Proprietary Information Agreement
is referred to in this Amendment or in any other agreement, document or instrument, such reference shall be deemed to be to the
Employment Agreement or the Proprietary Information Agreement, as amended by this Amendment, as applicable, whether or not specific
reference is made to this Amendment. In case of conflict between any of the terms and condition of this Amendment and the Employment
Agreement or the Proprietary Information Agreement, as applicable, the terms and conditions of this Amendment shall control.

 

Employee
Acknowledgement

 

You
acknowledge (i) that you have consulted with or have had the opportunity to consult with independent counsel of your own choice
concerning this Amendment, and have been advised to do so by the Company, and (ii) that you have read and understand this Amendment,
are fully aware of its legal effect, and have entered into it freely based on his own judgment.

 

[14.5.1.11]
[Farlekas Amendment to Employment Agreement.pdf] [Page 2 of 4]

 

    2

     

    

 

 

 

Other

 

To
indicate your acceptance of the terms of this Amendment, please sign and date this letter in the space provided and return it
to me at the address listed below. A duplicate original is enclosed for your records. The Employment Agreement, the Proprietary
Information Agreement and this Amendment, set forth the terms of your employment with the Company and supersede any prior representations
or agreements, whether written or oral. The Employment Agreement and this Amendment may not be modified or amended except by a
written agreement signed by the Company and by you.

 

[Signature
Pages Follow]

 

[14.5.1.11]
[Farlekas Amendment to Employment Agreement.pdf] [Page 3 of 4]

 

    3

     

    

 

 

 

Again,
I am excited about working together and making E2open, LLC a major success for all employees and shareholders.

 

	Sincerely,	 
	 	 
	/s/ Ross Devor	 
	Ross Devor	 
	Vice President	 
	E2open, LLC	 

 

I
have read, understand and accept the terms and conditions of this Amendment:

 

	/s/ Michael Farlekas	 
	Michael Farlekas	 
	 
	Date:	7-27-15	 

 
  

[Signature
Page to Farlekas Amendment to Employment Arrangements]

 

[14.5.1.11]
[Farlekas Amendment to Employment Agreement.pdf] [Page 4 of 4]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00318-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00318-of-00352.parquet"}]]