EXHIBIT 10.24


 


August 13, 2012


 


Erwin Eichmann


 


Dear Erwin,


 


Provided you commence
employment on a mutually agreed upon date in September 4, 2012, TheStreet, Inc. (the “Company”) is happy to provide
you with a one-time sign-on bonus in the amount of $16,104 (the “Sign-on Bonus”).


 


In the event that your employment is terminated for Cause, or
if you voluntarily resign from the Company before one (1) year has passed from the date you commenced employment with the Company,
you will be obligated to reimburse the Company for the Sign-on Bonus. For purposes of this Letter, “Cause” shall
be determined by the Company in the exercise of its good faith judgment, in accordance with the following guidelines: (i) your
willful misconduct or gross negligence in the performance of your obligations, duties and responsibilities of your position with
the Company (including those as an employee of the Company set forth in the Company’s Code of Business Conduct and Ethics
dated June 1, 2006, as same may be amended from time to time provided such amendment affects all executive officers of the Company),
(ii) your dishonesty or misappropriation, in either case that is willful and material, relating to the Company or any of its funds,
properties, or other assets, (iii) your inexcusable repeated or prolonged absence from work (other than as a result of, or in connection
with, a Disability), (iv) any unauthorized disclosure by you of Confidential Information or proprietary information of the Company
in violation of Section 12(d) which is reasonably likely to result in material harm to the Company, (v) your conviction of a felony
(including entry of a guilty or nolo contender plea) involving fraud, dishonesty, or moral turpitude, (vi) a violation of federal
or state securities laws, or (vii) the failure by you to attempt to perform faithfully the duties and responsibilities of your
position with the Company, or other material breach by you of this Letter, provided any such failure or breach described in clauses
(i), (ii), (iii), (iv), (vi) and (vii) is not cured, to the extent cure is possible, by you within thirty (30) days after written
notice thereof from the Company to you; provided, however, that no failure or breach described in clauses (i), (ii), (iii), (iv),
(vi) and (vii) shall constitute Cause unless (x) the Company first gives you written notice of its intention to terminate your
employment for Cause and the grounds of such termination no fewer than ten (10) days prior to the date of termination; and (y)
you are provided an opportunity to appear before the Board, with or without legal representation at your election to present arguments
on your own behalf; and (z) if you elect to so appear, such failure or breach is not cured, to the extent cure is possible, within
thirty (30) days after written notice from the Company to you that, following such appearance, the Company has determined in good
faith that Cause exists and has not, following the initial notice from the Company, been cured; provided further, however, that
notwithstanding anything to the contrary in this Letter and subject to the other terms of this proviso, the Company may take any
and all actions, including without limitation suspension (but not without pay), it deems appropriate with respect to you and your
duties at the Company pending such appearance and subsequent to such appearance during which such failure or breach has not been
cured. No act or failure to act on your part will be considered “willful” unless done, or omitted to be done, by you
not in good faith and without reasonable belief that your action or omission was in the best interests of the Company. For purposes
of this Letter,



 




14
Wall Street      15th Floor      NY, NY 10005      
T 212 321 5000      www.thestreet.com





    	 



    	



    


“Disability” shall mean physical or mental incapacity of a nature which prevents you, in the
good faith judgment of the Committee, from performing the duties and responsibilities of your position with the Company for a period
of ninety (90) consecutive days or one hundred and fifty (150) days during any year, with each year under this Letter commencing
on each anniversary of the date hereof.


 

By accepting the Sign-on
Bonus, you hereby authorize TheStreet to immediately offset against and reduce any amounts otherwise due to you by the Company
for any amounts in respect of the obligation to repay the Sign-on Bonus, consistent with any federal, state or local laws.


 


Sincerely,


 


	/s/
    Elisabeth DeMarse	 
	Elisabeth
    DeMarse	 
	Chair,
    President & CEO	 
	 	 


ACCEPTED AND AGREED





	 	 
	/s/
    Erwin Eichmann	 
	Erwin
    Eichmann	 


 

14
Wall Street      15th Floor      NY, NY 10005      
T 212 321 5000      www.thestreet.com