EX-10.20
from 10-Q
3 pages
• This Interim Position of President and Chief Executive Officer Will Have a Term of Five Months, Commencing on June 15, 2005 and Ending on November 15, 2005 (The “Interim Term”). Prior to the End of the Interim Term, the Board Will Reconsider Your Employment and if Applicable, Provide You With a New Employment Agreement, Within One Month After the End of the Interim Term. During the Interim Term, the Board Will Not Terminate Your Employment for Any Reason Other Than for Cause (As Defined Below) and Requests That if You Terminate This Employment Relationship, You Provide the Board Thirty Days Prior Written Notice. if the Board Decides Not to Renew Your Employment or You Terminate Employment Prior to the End of the Interim Term, You Will Not Be Entitled to Any Additional Compensation or Salary Post Termination, or Any Other Payment From Versata, Inc. • You Will Be Paid a Total Annual Salary of $250,000 Usd, Prorated for the Interim Term in the Monthly Amount of $20,833.33, Paid on a Semi-Monthly Basis, Less All Applicable Federal, State and Local Tax Withholding Obligations. • You Shall Be Designated as an Officer of the Company for Purposes of Section 16 of the Securities Exchange Act of 1934, as Amended;
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EX-10.16
from 10-K
3 pages
• You May Also Earn a Management Incentive Bonus Based on Achievement of Corporate Revenue Goals and Individual Performance, as Approved by the Board of Directors. Your Management Incentive Bonus for Achieving the On-Target Plan Will Be Up to $61,250 (35% of Base) US Annually, Paid on a Semi Annual Basis. the First Semi Annual Payment of $30,625 Will Be Guaranteed and You Will Be Entitled to Additional Bonus Payments Based Upon Company Performance. in the Event Your Employment Were to Terminate (Other Than for Cause) Prior to the Close of a Fiscal Quarter, You May Be Eligible to Receive the Revenue Based Portion on a Pro-Rated Basis
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