Terms of Understanding Between RightNow Technologies, Inc. and Michael A. Saracini Regarding Termination
RightNow Technologies, Inc. ended the employment of Michael A. Saracini, its Vice President and General Manager – Americas, on August 28, 2008. Under this agreement, Mr. Saracini will receive benefits outlined in his prior employment offer letter, including limited salary continuation and partial acceleration of stock option vesting. Additionally, the company will pay his COBRA health insurance costs for six months after termination and provide a $30,000 incentive payment for July and August 2008.
Exhibit 10.2
Terms of Understanding with Michael Saracini, Former GM of Americas
On August 28, 2008, RightNow Technologies, Inc. (the “Company” or “RightNow”) terminated the employment of Michael A. Saracini, Vice President and General Manager – Americas. In addition to meeting Mr. Saracini’s entitlements under his previously disclosed employment offer letter with respect to limited salary continuation and partial acceleration in the vesting of his stock options, the Company will pay Mr. Saracini (a) his COBRA costs for a period of six months following the end of his employment, and (b) $30,000 incentive payment for July and August, 2008.
