Accrue Software, Inc. Employment Offer Letter to Ron Yu for Vice President of Services Position

Summary

Accrue Software, Inc. offers Ron Yu the position of Vice President of Services, starting July 24, 2000, with an annual base salary of $155,000 and a target commission of $46,500. The offer includes standard company benefits, 17 days paid time off, and an option to purchase 150,000 shares of company stock, subject to vesting and board approval. Employment is at-will and contingent on signing a proprietary information agreement and meeting immigration requirements. If terminated without cause due to a change of control, Ron receives accelerated stock vesting.

EX-10.21 4 ex10-21.txt EXHIBIT 10.21 1 EXHIBIT 10.21 [ACCRUE LOGO] May 26, 2000 Ron Yu 1509 Fairway Green Circle San Jose, CA 95131 Dear Ron: On behalf of Accrue Software, Inc. (the "Company"), I am pleased to offer you the position of Vice President of Services, reporting directly to me, starting on July 24, 2000. Your compensation will be comprised of a $155,000 annual base salary and an annual target commission of $46,500.00, for a total annual target compensation of $201,500 at 100% of your plan. Your salary will be payable in accordance with the Company's standard payroll policies (subject to normal required withholding). You will be covered by the Company's standard benefits package including health insurance and seventeen days paid time off per year. You will be granted an incentive stock option to purchase 150,000 shares of Common Stock exercisable at the fair market value on the date of grant by the Company's board of directors. The option will become exercisable at the rate of 25% the shares one year after your commencement of employment and 1/48th of the shares subject to the option each month thereafter, so that at the end of four years, the option will be fully vested provided you remain an employee of the Company. The option will be subject to approval and grant by the Company's board of directors, which will occur at the first regular board meeting following the commencement of your employment, and the execution of the Company's standard Option Agreement under its 1996 Stock Plan. In the event you are terminated without cause, due to Change of Control, there will be a one year acceleration of vesting in addition to what has been vested to date. Our offer to you is conditioned upon your execution of the Accrue Software, Inc. Proprietary Information and Inventions Agreement, and conditioned upon your ability to provide and maintain the proper and necessary visa and other documentation required for you and Accrue to comply with all applicable United States immigration laws and regulations. In addition, you will abide by the Company's strict policy that prohibits any new employee from using or bringing with him or her from any previous employer any confidential information, trade secret, or proprietary materials or procedures of such employer. Your employment by Accrue will be for an indefinite term and on an "at-will" basis. This means that Accrue may terminate the employment relationship at any time, with or without cause. This "at-will" relationship may be changed only by a written agreement entered into for this purpose and signed by the Company's Chief Executive Officer. The other terms and conditions of your employment will be governed by various policies and programs of the Company, in writing and otherwise, and that those policies and programs may be changed from time to time by the Company in its discretion. The voluntary "at-will" nature of my employment shall not be affected nor changed by any other employment policies or programs the Company may have, now or in the future. This offer will be held open for three (3) days. To accept please sign at the bottom of this letter. Again, let me indicate how pleased we all are to extend this offer, and how much we look forward to working together. Please indicate your acceptance by signing and returning the enclosed copy of this letter. Very truly yours, /s/ RICHARD D. KREYSAR - ----------------------- Richard D. Kreysar President and CEO Accrue Software, Inc. I, Ron Yu, understand the foregoing terms and conditions and hereby accept them as stated: Signed: /s/ RON YU Date: 5/30/00 -------------------------- ----------------