Exhibit 10.20
April 19, 2000
John F. Adair
21026 NE 4/th/ Street
Redmond, WA 98053
Dear John:
Concur Technologies, Inc. ("Concur" or the "Company") is pleased to offer you
the position of Vice President of Finance and Administration, reporting to
Sterling Wilson, Chief Financial Officer and Executive Vice President of
Operations. Compensation for this position is $11,250.00 per month.
You will be paid an additional $35,000.00 per year, in four equal payments
quarterly. You will be an "at-will" employee. Should Concur terminate your
employment for any reason other than for "cause", you will receive full monthly
compensation, quarterly payments, and benefits through May 15, 2001 (assuming
your start date is May 15, 2000). If you voluntarily terminate your employment
with Concur, your monthly compensation, quarterly payments and benefits will
cease on your date of termination.
For this purpose, you shall be considered to have been terminated with "cause"
if your employment is terminated for (a) any gross misconduct or fraud in the
performance of your employment, (b) your conviction or guilty plea with respect
to any felony (except motor vehicle violations), (c) your material breach of the
Confidentiality Agreement, after written notice delivered to you of such breach
and a reasonable opportunity to cure such breach, (d) your failure to perform
your duties satisfactorily after receipt of written warning, or (e) engaging in
conduct which is injurious to Concur. If you voluntarily terminate your
employment, you will be required to give two weeks advance notice of
termination.
If you accept our offer, you will be granted an option to purchase 30,000 shares
of Common Stock. This option will vest with respect to one-fourth (25%) of the
shares after one year, with the balance vesting in equal monthly increments over
the succeeding three years. Based on your acceptance of the terms of this offer,
the per share price of your options will be set as the closing price of the
Company's Common Stock, as reported at the end of the trading day, on your first
full day of employment with Concur.
Attached is a summary of benefits Concur makes available to employees in
positions similar to the one offered to you. Medical and Dental coverage is
effective immediately upon your start of work with the Company. Our 401(k) Plan
and Employee Stock Purchase Plan (ESPP) have enrollment dates throughout the
year. The details of our plans and enrollment information will be covered on or
shortly after your start date.
We ask that you complete the enclosed Employee Confidential Information and
Inventions Agreement (the "Confidentiality Agreement") prior to commencing
employment. In part, the Agreement requires that an employee refrain from using
or disclosing the Company's Confidential Information (as defined in the
Confidentiality Agreement) in any manner which might be detrimental to or
conflict with the business interests of Concur or its employees.
This agreement does not prevent a former employee from using his or her general
knowledge and experience, no matter when or how gained, in any new field or
position.
This letter and the Confidentiality Agreement represent a formal statement
concerning the terms of your proposed employment and constitute a formal offer
of employment to you. As such, these documents supersede and merge any earlier
proposal or prior arrangement, whether oral or written, between you and the
Company, and any other communications between you and the Company regarding your
employment.
The terms of this offer may only be changed by written agreement, although the
Company may from time to time, in its sole discretion, adjust the compensation
and benefits paid to you and its other employees. In addition, this offer is
conditioned upon your confirmation that there are no non-competition agreements
or other contracts between you and any other party that would restrict or impair
your right or ability to accept employment with or to work for the Company, and
that your acceptance of our offer will not violate any obligation you have to
any former employer or any other party not to disclose or use confidential or
proprietary information.
Under Washington State law, employees have the right to terminate their
employment at any time with or without cause or notice, and the Company reserves
for itself an equal right. It is anticipated that your start date will be on May
15, 2000. Should you have any questions with regard to any of the items
indicated above, please feel free to call me. Your acceptance of this offer may
be made by:
Signing this original letter and the Confidentiality Agreement (in their
entirety) and faxing them to this office at (425) 702-0674 by 3:00 p.m. on
Friday, April 21, 2000.
The signed originals must be received by Concur prior to your start date. A
stamped, self-addressed envelope is enclosed for your convenience.
You will need to provide employment eligibility verification within three days
of your start date. The U.S. Immigration and Naturalization Service law passed
in 1986 requires this. Please bring identification with you on your first day so
that we may complete the I-9 form during orientation.
John, we hope that you and Concur will find mutual satisfaction with your
employment. All of us at Concur are very excited about your joining our team and
look forward to a beneficial and fruitful relationship.
Sincerely,
/s/ Bonnie J. Wood
Bonnie J. Wood
Director of Recruiting
ACCEPTED BY:
/s/ John F. Adair
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John F. Adair Date 4/21/00
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Start date: 5/15/00
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