Bazaarvoice, Inc. Offer of Employment to Christopher M. Lynch as Corporate Controller
Bazaarvoice, Inc. offers Christopher M. Lynch the position of Corporate Controller, reporting to the CFO, with a start date on or before July 6, 2009. The agreement outlines at-will employment, a base salary of $150,000 per year, a guaranteed $20,000 bonus for the first year, and a stock option grant subject to board approval. Lynch must sign a proprietary information agreement, provide proof of work eligibility, and pass a background check. The offer is contingent on these requirements and must be accepted by June 8, 2009.
Exhibit 10.17
June 3, 2009
Chris Lynch
[***]
[***]
RE: | Offer of Employment |
Dear Chris:
On behalf of Bazaarvoice, Inc. (the Company), I am pleased to invite you to join the Company as Corporate Controller reporting to Ken Saunders, CFO. In this position, you will be expected to devote your full business time, attention and energies to the performance of your duties with the Company. If you accept our offer of employment by complying with the instructions set forth in the last paragraph of this offer, your first day of employment will be on or before July 6, 2009. The terms of this offer of employment are as follows:
1. At-Will Employment. You should be aware that your employment with the Company is for no specified period and constitutes at-will employment. As a result, you are free to terminate your employment at any time, for any reason or for no reason. Similarly, the Company is free to terminate your employment at any time, for any reason or for no reason.
2. Compensation. The Company will pay you a base salary at a rate of $12,500.00 per month (annualized to $150,000.00 per year) in accordance with the Companys standard payroll policies, including compliance with applicable withholding requirements. In addition, you will be paid an annual bonus totaling $20,000.00 guaranteed for the first year. The first payment of $10,000 will be paid on the first regularly scheduled payroll, following your start date and the second payment of $10,000.00, will be paid at the first regularly scheduled payroll following your first anniversary date with the Company. The first and last payment by the Company to you will be adjusted, if necessary, to reflect a commencement or termination date other than the first or last working day of a pay period.
3. Stock Ownership. Subject to approval by the Companys Board of Directors, you will be granted an option under the Companys 2005 Stock Plan to purchase 125,000 shares of the Companys common stock at a price per share equal to the fair market value of the common stock on the date upon which the Board of Directors approves the option grant. We will recommend that the Companys Board of Directors set your vesting schedule with respect to such option as follows: One-fourth (1/4th) of the shares subject to the option will vest on the first anniversary of your employment with the Company and an additional one forty-eighth (1/48th) of the total number of such shares will vest each month thereafter, subject to your continued employment with the Company on any such date.
4. Benefits. During the term of your employment, you will be entitled to the Companys standard vacation and benefits covering employees at your level, as such may be in effect from time to time.
5. Immigration Laws. For purposes of federal immigration laws, 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 within three business days of the effective date of your employment, or your employment relationship with the Company may be terminated.
6. Prior Employment Relationships; Conflicting Obligations. If you have not already done so, we request that you disclose to the Company any and all agreements relating to your prior employment that may affect your eligibility to be employed by the Company or limit the manner in which you may be employed. It is the Companys understanding that any such agreements will not prevent you from performing the duties of your position and you represent that such is the case. Moreover, you agree that, during the term of your employment with the Company, you will not engage in any other employment, occupation, consulting or other business activity directly related to the business in which the Company is now involved or becomes involved during the term of your employment, nor will you engage in any other activities that conflict with your obligations to the Company. Similarly, you agree not to bring any third party confidential information to the Company, including that of your former employer, and that in performing your duties for the Company you will not in any way utilize any such information.
7. Employee Proprietary Information Agreement. As a condition of this offer of employment, you will be required on your first day of employment to complete And sign the Companys standard form of Employee Proprietary information Agreement (the EPIA) attached hereto as Exhibit A.
8. General. This offer letter, the EPIA and the Stock Option Agreement covering the shares described in paragraph 3, when signed by you, set forth the terms of your employment with the Company and supersede any and all prior representations and agreements, whether written or oral. In the event of a conflict between the terms and provisions of this offer letter, on the one hand, and the EPIA and the Stock Option Agreement, on the other hand, the terms and provisions of the EPIA and the Stock Option Agreement will control. Any amendment of this offer letter or any waiver of a right under this offer letter must be in a writing signed by you and an officer of the Company. This offer letter will be governed by Texas law without giving effect to its conflict of law principles.
9. Background Check; Contingencies. This offer of employment is contingent upon the satisfactory completion of background screens to be performed by the Company and/or independent contractors of the Company. If such checks fail to satisfy, the Companys requirements for employees at your level, this offer of employment shall be rescinded.
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We look forward to you joining the Company. If the foregoing terms are agreeable, please indicate your acceptance by signing this offer letter in the space provided below and returning it to me not later than June 8, 2009.
Sincerely, | ||
BAZAARVOICE, INC. | ||
By: | /s/ Kathleen D. Smith-Willman | |
Kathleen D. Smith-Willman, | ||
Director-People Operations |
Agreed and Accepted:
Signature: | /s/ Chris Lynch |
Date: | 8 June 2009 |
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EXHIBIT A
EMPLOYEE PROPRIETARY INFORMATION AGREEMENT