Exhibit 10.18

 

[IHI Letterhead]

 

 

January 29, 2003

 

Mr. Fenton Markevich

President & CEO

CRC Press LLC

2000 Corporate Blvd. N.W.

Boca Raton, Florida 33431

 

Re:      Transaction Bonus

 

Dear Mr. Markevich:

 

This letter agreement sets forth the bonus that you will be eligible to receive
if a sale of all or substantially all of the capital stock or assets of CRC
Press LLC (the “Company”) by Information Holdings Inc. or an affiliate (“IHI”)
to Taylor & Francis Group plc (“T&F”) is completed within six months of the date
hereof (a “Sale”).  All amounts payable to you under this bonus arrangement will
be in addition to, not in lieu of, any and all amounts to which you are
entitled, or may become entitled with respect to your stock option grants, and
any other compensation or benefits payable under any IHI or Company plan.

 

In the event a Sale occurs, and provided that you have remained in the
continuous employ of the Company from the date of this letter agreement until
the closing date of such Sale (the “Closing Date”), you will receive, on the
Closing Date, a lump sum bonus payment of $200,000.  All amounts payable to you
pursuant to the terms of this letter agreement shall be subject to withholding
for all applicable federal, state and local withholding taxes.

 

You also acknowledge that, provided you obtain an employment agreement with T&F,
IHI shall have no obligation to provide you severance or related payments
resulting from the termination of your employment with the Company on the
Closing Date.

 

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Please indicate your acceptance of the terms of this letter agreement by signing
and dating this letter in the space indicated below.

 

Sincerely,

 

INFORMATION HOLDINGS INC.

 

 

 

 

 

By:

/s/ Mason P. Slaine

 

 

 

Mason P. Slaine

 

 

Chief Executive Officer

 

 

 

 

 

 

 

 

/s/ Fenton Markevich

 

 

 

Fenton Markevich

 

 

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