Employee Retention Bonus AgreementEmployee Retention Bonus Agreement • October 3rd, 2005 • Activcard Corp • Services-prepackaged software • California
ActivCard, Inc. (“Company”), has determined that it is critical to the operation of the Company that Ragu Bhargava (“Employee”) remains in its employ through December 15, 2005 (“Key Date”). Employee previously announced his intention to voluntarily resign his position. In order to encourage Employee to continue to provide employment to the Company through Key Date and remain employed through Key Date, the Company shall provide the Employee with a Retention Bonus (as described below) conditional upon Employee remaining employed through Key Date. Through this period, Employee will continue to perform the duties and obligations of the CFO office, including the closing of the fiscal 2005 financial statements, the filing of the Annual Report on Form 10-K and providing the certifications required under the Sarbanes Oxley Act, as well as assisting with an orderly transition of duties to his replacement as CFO.
