雇佣合同五.docx

雇佣合同五.docx

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雇佣合同五

March 15,2010

Ms. JoanneBradford

140DerbyLane

Moraga,CA94556

Re:

EmploymentAgreementwithDemandMedia, Inc.

DearJoanne:

OnbehalfofDemandMedia, Inc.（the"Company"）, IampleasedtoofferyouemploymentastheChiefRevenueOfficeroftheCompanyonthetermsandconditionssetforthinthisletteragreement（this"Agreement"）.YoumayacceptthisAgreementbysigningandreturningacopyofthisAgreementtotheCompanyasprovidedbelow.

1.TermofEmployment.YouremploymentunderthisAgreementshallcommenceonMarch 26,2010（the"StartDate"）andwillcontinueuntilMarch 31,2014（the"InitialTerm"）.Notwithstandingtheforegoing,andsubjecttotheprovisionsofSection 3herein,eitherpartymayterminatethisAgreementonthirty（30）days'priorwrittennoticebeforetheexpirationoftheInitialTerm.AftertheInitialTerm,thisAgreementshallcontinueinfullforceandeffectforsuccessiveone-yearperiods,subjecttoeitherparty'srighttoterminatetheAgreementuponnolessthansixty（60）day'spriorwrittennotice,andtotheprovisionsofSection 3herein.

2.PositionandDuties.DuringtheInitialTerm,theCompanyshallemployyouasitsChiefRevenueOfficer,andyoushallreporttotheCompany'sChiefExecutiveOfficer（currentlyRichardRosenblatt）.YourdutiesshallincludesuchlawfuldutiesastheBoardmaydelegatetoyoufromtimetotimethatarenotinconsistentwithdutiesassignedtoaC-levelofficerofacompanyofcomparablesizeandwithasimilarbusinesstothatoftheCompany.Youagreetocommitsubstantiallyallofyourworkingtime,attentionandeffortstothepositiononafull-timebasis.Subjecttotheforegoing,theCompanyacknowledgesthat,outsideofyourobligationstotheCompany,youmayalsobespendingareasonableamountoftimeonPermittedActivities（asdefinedbelow）.ThisAgreementispersonaltoyouandyoumaynotassignordelegateanyofyourrightsorobligationshereunderwithoutfirstobtainingthewrittenconsentoftheCompanybyactionoftheBoardofDirectorsoftheCompany（the"Board"）.

3.CompensationandBenefits.InconsiderationforyourservicestotheCompanyduringtheInitialTerm,youshallreceivethefollowingcompensationandbenefitsfromtheCompany.

（a）BaseSalary.TheCompanyshallpayyouanannualbasesalaryattherateoftwohundredtwenty-fivethousanddollars（$225,000U.S.）peryeartobepaidininstallmentsaccordingtotheCompany'sregularpayrollpolicy,asineffectfromtimetotime.TheCompanyshallwithholdanddeductallapplicablefederalandstateincomeandemploymentanddisabilitytaxesfromyourbasesalaryasrequiredbyapplicablelaws.YoursalaryshallbereviewedannuallyandyoushallbeeligiblefordiscretionaryannualincreasesinyourbasesalaryinconnectionwiththeCompany'sannualexecutivecompensationandperformancereviewconductedbytheBoard.

（b）AnnualIncentiveOpportunity;SalesCommission.

（1）AnnualIncentiveOpportunity.YoushallbeeligibletoparticipateinanybonusplanthattheCompanymaymaintainorestablishfortheexecutivesoftheCompanyonthetermsthatapplytotheexecutivesoftheCompany.Suchannualtargetbonusshallbesetatfortypercent（40%）ofyourannualbasesalaryineffectduringtheyearforwhichthebonusisapplicable,basedontheattainmentofyourpersonalperformancecriteriaandtheCompany'sattainmentofitsbusinessandfinancialperformancecriteria,ineachcaseestablishedandevaluatedbytheCompanyinitssolediscretion,provided,thatyouractualbonusforanyyearmayequallessthan40%ofyourbasesalary（andmayequalzero）,dependinguponwhetherandtowhatextentsuchcriteriaareattained.Incentivebonusesshallbepro-ratedforanypartialyearofservice.Paymentofanyincentivebonus（es）,totheextentanysuchincentivebonus（es）becomepayable,willbecontingentuponyourcontinuedemploymentthroughthedateonwhichsuchpaymentsarepaidgenerallyundertheapplicablebonusplan.ButifyouremploymentisterminatedbytheCompanywithoutCauseorbyyouforGoodReason（bothasdefinedbelow）beforetheCompanypaysincentivebonusesgenerallytoitsemployeesinrespectofserviceduringcalendaryear2010,youwillnonethelessbeentitledtoreceiveaproratedincentivebonuspaymentpaidatthesametimeastheCompanypaysincentivebonusesgenerally,subjecttoadjustment（eitherupwardsordownwards,asapplicable）tothesameextentasthebonuspoolfortheCompany'sexecutiveemployeesisadjustedgenerally.Theincentivepayment（s） shallbepaidincashorsuchotherformagreeduponbyyouandtheCompensationCommitteeoftheBoardortheBoard.

（2）SalesCommission.Forcalendaryear2010,youshallbeeligibleforcommissionpaymentsasfollows:

（a） onequarterofonepercent（0.25%）ofthesumofworldwidesalesofpremium,brandedadvertisingandyear1bookingsofthePluckenterprisesolution（"CommissionableSales"）;and（b） ifCommissionableSalesexceedfifteenmilliondollars（$15,000,000）in2010,onehalfofonepercent（0.50%）onsalesabovethatthreshold.CommissionableSalesmadepriortotheStartDatewillbeincludedindeterminingwhetherthe$15,000,000salestargethasbeenachieved.ButyouwillbepaidcommissiononlyonCommissionableSalesmadeaftertheStartDate.PaymentsofcommissionsaremadeaftertheendofeachcalendarquarterconditioneduponyourcontinuedemploymentwiththeCompany.ThecalculationofCommissionableSalesandotherfactorsaffectingyourcommissionshallbemadebytheCompanyintheexerciseofitsreasonablediscretioninaccordancewiththeCompany'ssalescommissionpolicies.Calculationandpaymentofallsalescommissionssubsequenttocalendaryear2010shallbeagreeduponbetweenyouandtheCompanyinadvanceofeachsuccessivecalendaryear.

（c）RestrictedStockandStockOptionGrant.

（1）RestrictedStock.SubjecttotheBoard'sapprovalandthecommencementofyouremployment,theCompanyagreestogranttoyoufourhundredthousand（400,000）restrictedsharesoftheCompany'scommonstock（the"RestrictedStock"）undertheCompany'sAmendedandRestated2006EquityIncentivePlan（asmaybefurtheramendedfromtimetotime,the"Plan"）assoonaspracticableaftertheStartDate.ThetermsandconditionsoftheRestrictedStock,includinganyrestrictionsthereon,shallbesetforthinaRestrictedStockagreementtobeenteredintobytheCompanyandyouwhichshallevidencethegrantoftheRestrictedStock（the"RestrictedStockAgreement"）.SubjecttotheprovisionsofthisSection 3（c）

（1） andSection 3（f） below,allsuchsharesofRestrictedStockshallbesubjecttoandgovernedbythetermsandconditionsofthePlanandtheRestrictedStockAgreement.

（2）StockOption.SubjecttotheBoard'sapprovalandthecommencementofyouremployment,theCompanyagreestogranttoyouanon-qualifiedstockoptiontopurchasefourhundredthousand（400,000）sharesoftheCompany'scommonstock（the"StockOption"）assoonaspracticablefollowingtheStartDate.TheStockOptionshallvestupongrantwithrespectto100,000sharessubjectthereto（the"SigningBonusShares"）.TheStockOptionshallbegrantedtoyouunderthePlanatanexercisepricepershareequalto100%ofthefairmarketvalueofashareoftheCompany'scommonstockonthedateofgrant,asdeterminedbytheBoardinaccordancewiththetermsofthePlan.ThetermsandconditionsoftheStockOption,includinganyrestrictionsthereon,shallbesetforthinaStockOptionagreementtobeenteredintobytheCompanyandyouwhichshallevidencethegrantoftheStockOption（the"StockOptionAgreement"）.TheStockOptionshallbesubjecttoandgovernedbythetermsandconditionsofthePlanandtheStockOptionAgreement.

（3）ScheduledVesting.TheRestrictedStockandtheStockOptionshallbesubjecttosuchrestrictionsastheCompanyshalldetermine,whichmayinclude,withoutlimitation,anyreacquisitionandtransferabilityrestrictions.SubjecttoyourcontinuedemploymentwiththeCompany,theRestrictedStockshallvestasfollows:

one-fourth（1/4）oftheRestrictedStockoneachofthefirst,second,thirdandfourthanniversariesofthedateofgrant.FurthersubjecttoyourcontinuedemploymentwiththeCompany,theStockOption（otherthantheSigningBonusShares）shallvestasfollows:

75,000sharessubjecttotheStockOptiononthefirstanniversaryofthedateofgrantandanadditional6,250sharessubjecttotheStockOptiononthefirstdayofeachmonththereafter.

（d）Section 401（k） PlanandOtherBenefits.AsanemployeeoftheCompany,youshallbeeligibletoparticipateintheCompany's401（k） Plan,subjecttothetermsofthatplan.Subjecttothetermsofsuchotherplans,youshallbeeligibletoreceivesuchotherbenefitsorrightsasmaybeprovidedunderanyemployeebenefitplansprovidedbytheCompanytoitsexecutivesthatarenoworhereafterwillbeineffect,includingparticipationinlife,medical,disabilityanddentalinsuranceplans.Nothinginthisprovisionshall,orshallbeconstruedto,obligatetheCompanytomaintainanyparticularbenefitplan（s）,includingwithoutlimitation,any401（k） plan.

（e）VacationandSickLeave.TheCompany'spolicyistonotprovideafixednumberofpaidvacation,personalorsickdaysperyearforexecutivelevelemployees.Asanexecutiveofficer,weexpectyoutouseyourjudgmenttotaketimeofffromworkforvacationorotherpersonaltimeinamannerconsistentwithperformingyourworkinatimelyfashion,providingexcellentservicetoourcustomersandpartnersandavoidinginconveniencingyourco-workers.

（f）TerminationandChangeofControlPaymentsandBenefits.

（1）Te