<PAGE> 1
EXHIBIT 10.1
OFFER LETTER, FABIO ANGELILLIS
August 21, 2000
Fabio Angelillis
Dear Fabio,
We are pleased to offer you the position of Executive Vice President,
Engineering for Broadbase Software, Inc., reporting to Chuck Bay, Chief
Executive Officer.
This letter outlines the proposed terms of employment with Broadbase. Your start
date will be determined.
- Your annual salary will be $200,000 paid semi-monthly.
- There is an incentive (MBO) bonus associated with this position
allowing you to make an additional $40,000. Your bonus will be
based on achievement of your objectives and is paid in two
installments on a semi-annual basis.
I will recommend that you be granted an option to purchase 400,000 shares of
stock. This grant is subject to approval by the Board of Directors after your
employment begins. The option would vest on a monthly basis over four years
subject to a three-month cliff and would be governed by the terms set forth in
the Company's standard form of stock options agreement. The purchase price of
132,000 shares will be at $1.00 per share and the purchase price of the
remaining 268,000 shares covered by the option will be the closing price of the
Company's common stock on the date of the approval of the grant by the Board.
The Company will provide to you the health, holiday, vacation and other benefits
available to all its employees. Enclosed for your review is information related
to some of the benefits.
To indicate your acceptance of this offer of employment, please sign below. Your
employment at Broadbase is subject to your signing the attached Employee
Invention Assignment, Confidentiality and Arbitration Agreement. Your employment
will not be governed by a written or oral contract. You will be an "at-will"
employee, which means that either you or the Company may terminate your
employment at any time, for any or no reason, and with or without notice. This
at-will nature of your employment cannot be modified except by a writing signed
by an executive officer of Broadbase.
Fabio, all of us welcome you in joining Broadbase and we look forward to having
you on our team. Meanwhile, if you have any questions, please do not hesitate to
call me.
Sincerely,
Rusty Thomas
Executive Vice President and Chief Financial Officer
Accepted:
Signature: /s/ Fabio Angelillis
---------------------------------
Name: Fabio Angelillis
Start Date:
---------------------------------
