Exhibit 10.12


 


October 4, 2012


 


Dao Nguyen


230 West End Ave, #9G


New York, NY 10023


 


Dear Dao:


 


BuzzFeed, Inc. (the “Company”)
is pleased to offer you employment on the following terms:


 


1.        Position.
Your initial title will be Growth Lead, and you will initially report to the Company’s Director of Product. This is a full-time
position. By signing this letter agreement, you confirm to the Company that you have no contractual commitments or other legal obligations
that would prohibit you from performing your duties for the Company.


 


2.        Cash
Compensation. The Company will pay you a starting salary at the rate of $150,000 per year, payable in accordance with the Company’s
standard payroll schedule. Your salary will be subject to adjustment pursuant to the Company’s employee compensation policies in
effect from time to time.


 


3.        Employee
Benefits. As a regular employee of the Company, you will be eligible to participate in a number of Company-sponsored benefits. In
addition, you will be entitled to paid vacation in accordance with the Company’s vacation policy, as in effect from time to time.


 


4.        Stock
Options. Subject to the approval of the Company’s Board of Directors or its Compensation Committee, you will be granted an option
to purchase 5,000 shares of the Company’s Common Stock (the “Option”). The exercise price per share of the Option
will be determined by the Board of Directors or the Compensation Committee when the Option is granted. The Option will be subject to the
terms and conditions applicable to options granted under the Company’s 2008 Stock Plan (the “Plan”), as described
in the Plan and the applicable Stock Option Agreement. You will vest in 25% of the Option shares after 12 months of continuous service,
and the balance will vest in equal monthly installments over the next 36 months of continuous service, as described in the applicable
Stock Option Agreement.


 


5.        Proprietary
Information and Inventions Agreement. Like all Company employees, you will be required, as a condition of your employment with the
Company, to sign the Company’s standard Proprietary Information and Inventions Agreement, a copy of which is attached hereto as
Exhibit A.


 






    


     


    

 


6.        Employment
Relationship. Employment with the Company is for no specific period of time. Your employment with the Company will be “at will,”
meaning that either you or the Company may terminate your employment at any time and for any reason, with or without cause. Any contrary
representations that may have been made to you are superseded by this letter agreement. This is the full and complete agreement between
you and the Company on this term. Although your job duties, title, compensation and benefits, as well as the Company’s personnel
policies and procedures, may change from time to time, the “at will” nature of your employment may only be changed in an express
written agreement signed by you and a duly authorized officer of the Company (other than you).


 


7.        Outside
Activities. While you render services to the Company, you agree that you will not engage in any other employment, consulting or other
business activity without the prior written consent of the Company. While you render services to the Company, you also will not assist
any person or entity in competing with the Company, in preparing to compete with the Company or in hiring any employees or consultants
of the Company.


 


8.        Withholding
Taxes. All forms of compensation referred to in this letter agreement are subject to reduction to reflect applicable withholding and
payroll taxes and other deductions required by law.


 


9.        Entire
Agreement. This letter agreement and Exhibit A supersede and replace any prior agreements, representations or understandings
(whether written, oral, implied or otherwise) between you and the Company and constitute the complete agreement between you and the Company
regarding the subject matter set forth herein. This letter agreement may not be amended or modified, except by an express written agreement
signed by both you and a duly authorized officer of the Company.


 


10.      Arbitration.
You and the Company agree to waive any rights to a trial before a judge or jury and agree to arbitrate before a neutral arbitrator any
and all claims or disputes arising out of this letter agreement and any and all claims arising from or relating to your employment with
the Company, including (but not limited to) claims against any current or former employee, director or agent of the Company, claims of
wrongful termination, retaliation, discrimination, harassment, breach of contract, breach of the covenant of good faith and fair dealing,
defamation, invasion of privacy, fraud, misrepresentation, constructive discharge or failure to provide a leave of absence, or claims
regarding commissions, stock options or bonuses, infliction of emotional distress or unfair business practices.


 


The arbitrator’s decision
must be written and must include the findings of fact and law that support the decision. The arbitrator’s decision will be final
and binding on both parties, except to the extent applicable law allows for judicial review of arbitration awards. The arbitrator may
award any remedies that would otherwise be available to the parties if they were to bring the dispute in court. The arbitration will be
conducted in accordance with the National Rules for the Resolution of Employment Disputes of the American Arbitration Association;
provided, however that the arbitrator must allow the discovery that the arbitrator deems necessary for the parties to vindicate their
respective claims or defenses. The arbitration will take place in New York, NY or, at your option, the county in which you primarily worked
with the Company at the time when the arbitrable dispute or claim first arose.


 






    2


     


    

 


You and the Company will share
the costs of arbitration equally. Both the Company and you will be responsible for their own attorneys’ fees, and the arbitrator
may not award attorneys’ fees unless a statute or contract at issue specifically authorizes such an award.


 


The foregoing notwithstanding,
this arbitration provision does not apply to (a) workers’ compensation or unemployment insurance claims or (b) claims
concerning the ownership, validity, infringement, misappropriation, disclosure, misuse or enforceability of any confidential information,
patent right, copyright, mask work, trademark or any other trade secret or intellectual property held or sought by either you or the Company
(whether or not arising under the Proprietary Information and Inventions Agreement between you and the Company).


 


If an arbitrator or court of
competent jurisdiction (the “Neutral”) determines that any provision of this arbitration provision is illegal or unenforceable,
then the Neutral shall modify or replace the language of this arbitration provision with a valid and enforceable provision, but only to
the minimum extent necessary to render this arbitration provision legal and enforceable.


 


* * * * *


 


We hope that you will accept
our offer to join the Company. You may indicate your agreement with these terms and accept this offer by signing and dating both the enclosed
duplicate original of this letter agreement and the enclosed Proprietary Information and Inventions Agreement and returning them to me.
This offer expires on October 8, 2012. As required by law, your employment with the Company is contingent upon your providing legal
proof of your identity and authorization to work in the United States. Your employment is also contingent upon your starting work with
the Company on or before November 5, 2012.


 


If you have any questions, please
do not hesitate to contact me.


 


	 	Very truly yours,
	 
	 	BuzzFeed, Inc.
	 
	 	By	 /s/ Mark Frackt    
	 	Title:	CFO
	 
	I have read and accept this employment offer:	 
	 
	/s/ Dao Nguyen	 
	Dao Nguyen	 



 


	Dated:	October 4, 2012    	 







 






    3


     


    

 


Attachment


 


Exhibit A: Proprietary Information and Inventions
Agreement


 






    4


     


    

 


October 4, 2012


 


Dao Nguyen


230 West End Ave, #9G


New York, NY 10023


 


Dear Dao:


 


BuzzFeed, Inc. (the “Company”)
is pleased to offer you employment on the following terms:


 


1.            Position.
Your initial title will be Growth Lead, and you will initially report to the Company’s Director of Product. This is a full-time
position. By signing this letter agreement, you confirm to the Company that you have no contractual commitments or other legal obligations
that would prohibit you from performing your duties for the Company.


 


2.            Cash
Compensation. The Company will pay you a starting salary at the rate of $150,000 per year, payable in accordance with the Company’s
standard payroll schedule. Your salary will be subject to adjustment pursuant to the Company’s employee compensation policies in
effect from time to time.


 


3.            Employee
Benefits. As a regular employee of the Company, you will be eligible to participate in a number of Company-sponsored benefits. In
addition, you will be entitled to 3 weeks paid vacation in accordance with the Company’s vacation policy, as in effect from time
to time.


 


4.            Stock
Options. Subject to the approval of the Company’s Board of Directors or its Compensation Committee, you will be granted an option
to purchase 5,000 shares of the Company’s Common Stock (the “Option”). The exercise price per share of the Option
will be determined by the Board of Directors or the Compensation Committee when the Option is granted. The Option will be subject to the
terms and conditions applicable to options granted under the Company’s 2008 Stock Plan (the “Plan”), as described
in the Plan and the applicable Stock Option Agreement. You will vest in 25% of the Option shares after 12 months of continuous service,
and the balance will vest in equal monthly installments over the next 36 months of continuous service, as described in the applicable
Stock Option Agreement.


 


5.            Proprietary
Information and Inventions Agreement. Like all Company employees, you will be required, as a condition of your employment with the
Company, to sign the Company’s standard Proprietary Information and Inventions Agreement, a copy of which is attached hereto as
Exhibit A.


 


6.            Employment
Relationship. Employment with the Company is for no specific period of time. Your employment with the Company will be “at will,”
meaning that either you or the Company may terminate your employment at any time and for any reason, with or without cause. Any contrary
representations that may have been made to you are superseded


 






     


     


    

 


The foregoing notwithstanding,
this arbitration provision does not apply to (a) workers’ compensation or unemployment insurance claims or (b) claims
concerning the ownership, validity, infringement, misappropriation, disclosure, misuse or enforceability of any confidential information,
patent right, copyright, mask work, trademark or any other trade secret or intellectual property held or sought by either you or the Company
(whether or not arising under the Proprietary Information and Inventions Agreement between you and the Company).


 


If an arbitrator or court of
competent jurisdiction (the “Neutral”) determines that any provision of this arbitration provision is illegal or unenforceable,
then the Neutral shall modify or replace the language of this arbitration provision with a valid and enforceable provision, but only to
the minimum extent necessary to render this arbitration provision legal and enforceable.


 


We hope that you will accept
our offer to join the Company. You may indicate your agreement with these terms and accept this offer by signing and dating both the enclosed
duplicate original of this letter agreement and the enclosed Proprietary Information and Inventions Agreement and returning them to me.
This offer expires on October 8, 2012. As required by law, your employment with the Company is contingent upon your providing legal
proof of your identity and authorization to work in the United States. Your employment is also contingent upon your starting work with
the Company on or before November 5, 2012.


 


If you have any questions, please
do not hesitate to contact me.


 


	 	Very truly yours,
	 
	 	BuzzFeed, Inc.
	 
	 	By	 /s/ Mark Frackt     
	 	Title:	CFO
	 
	I have read and accept this employment offer:	 
	 
	/s/ Dao Nguyen	 
	Dao Nguyen	 




 






    2