Document:

EX-10.14

 Exhibit 10.14 

EMPLOYMENT AGREEMENT 

THIS AGREEMENT, effective as of May 28, 2012 (the “Effective Date”), is made by and between Monster Worldwide, Inc., a Delaware
corporation (the “Company”), and Michael McGuinness (the “Executive”). 
 RECITALS: 

A. The Company employs the Executive as its Senior Vice President, Chief Accounting Officer ; and 

B. The parties desire to amend and restate in its entirety the Executive’s current employment agreement, dated as of July 14, 2008,
as set forth below, and 
 C. The Executive desires to commit himself to serve the Company on the terms herein provided. 

NOW, THEREFORE, in consideration of the foregoing and of the respective covenants and agreements set forth below, the parties hereto agree as
follows: 
 1. Certain Definitions. 

(a) “Affiliate” shall mean, with respect to any Person, any other Person directly or indirectly, through one or more intermediaries,
controlling, controlled by, or under common control with, such Person. For purposes of this Section 1(a), “control” shall have the meaning given such term under Rule 405 of the Securities Act of 1933, as amended. 

(b) “Annual Base Salary” shall have the meaning set forth in Section 5(a). 

(c) “Board” shall mean the Board of Directors of the Company. 

(d) “Bonus” shall have the meaning set forth in Section 5(b). 

(e) The Company shall have “Cause” to terminate the Executive’s employment upon: 

(i) the Executive’s misconduct or gross negligence in the performance of his duties hereunder, or his failure to attempt in good faith
to carry out, or comply with, in any material respect any lawful and reasonable directive of the Board or the Chief Executive Officer or the Executive’s material violation of the Company’s statement of corporate policy and/or code of
conduct at any time after such statement and code have been adopted by the Board and have been set forth in writing and delivered to the Executive; 

(ii) the Executive’s unlawful use (including being under the influence) of drugs on the Company’s premises or while performing the
Executive’s duties and responsibilities; 

 (iii) the Executive’s failure or refusal to reasonably cooperate with any Company
investigation or governmental/regulatory authority having jurisdiction over the Executive and the Company; 
 (iv) the Executive’s
material breach of this Agreement or of any of the rules, regulations or policies or procedures of the Company; 
 (v) the Executive’s
commission at any time in the performance of his duties hereunder of any act of fraud, embezzlement, misappropriation of Company property, moral turpitude or breach of fiduciary duty that could possibly have a material adverse effect on the Company;
or 
 (vi) the Executive’s indictment related to the commission of any criminal act. 

No termination of the Executive’s employment hereunder by the Company for Cause shall be effective as a termination for Cause unless the
provisions of this paragraph shall first have been complied with. The Executive shall be given written notice stating in reasonable detail the particular circumstances that constitute the grounds on which the proposed termination for Cause is based.
The Executive shall have thirty (30) days after receipt of such notice to fully cure any such alleged violation under clauses (i), (iii) or (iv) above. If he fails to cure such alleged violation within such thirty (30)-day period, the
Executive’s employment shall, without further action by the Company, be terminated for Cause at the end of such period. No opportunity to cure or advance notice shall be required for a termination under clauses (ii), (v) or (vi) above. For
purposes hereof, no act or omission shall be deemed to be “willful” if such act or omission was taken (or omitted) in the good faith belief that such is in the best interests of, or not opposed to the best interests of, the Company or if
such act or omission resulted from the Executive’s physical or mental incapacity. 
 (f) “Change in Control” shall occur
when: 
 (i) any person or group acquires stock of the Company that, together with stock held by such person or group, constitutes more
than 50% of the total fair market value or total voting power of the stock of the Company. However, if any person or group is considered to own more than 50% of the total fair market value or total voting power of the stock of the Company, the
acquisition of additional stock by the same person or group is not considered to cause a Change in Control of the Company. An increase in the percentage of stock owned by any person or group as a result of a transaction in which the Company acquires
its stock in exchange for property will be treated as an acquisition of stock for purposes of this subsection. This subsection applies only when there is a transfer of stock of the Company (or issuance of stock of the Company) and stock in the
Company remains outstanding after the transaction; 
 (ii) any person or group acquires (or has acquired during the 12-month period ending
on the date of the most recent acquisition by such person or group) ownership of stock of the Company possessing 30% or more of the total voting power of the stock of the Company; 

  
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 (iii) a majority of members of the Company’s Board is replaced during any 12-month period
by Directors whose appointment or election is not endorsed by a majority of the members of the Company’s Board prior to the date of the appointment or election; or 

(iv) any person or group acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such
person or group) assets from the Company that have a total gross fair market value equal to or more than 40% of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition or acquisitions. For this
purpose, gross fair market value means the value of the assets of the Company, or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets. However, no Change in Control shall be deemed to
occur under this subsection (iv) as a result of a transfer to: (A) a shareholder of the Company (immediately before the asset transfer) in exchange for or with respect to its stock; (B) an entity, 50% or more of the total value or
voting power of which is owned, directly or indirectly, by the Company; (C) a person or group that owns, directly or indirectly, 50% or more of the total value or voting power of all the outstanding stock of the Company; or (D) an entity,
at least 50% of the total value or voting power of which is owned, directly or indirectly, by a person described in clause (C) above. 

For the purposes of this Section 1(f), the term “person” shall mean an individual, corporation, association, joint-stock
company, business trust or other similar organization, partnership, limited liability company, joint venture, trust, unincorporated organization or government or agency, instrumentality or political subdivision thereof. The term “group”
shall have the meaning set forth in Rule 13d-5 of the Securities Exchange Commission (“SEC”), modified to the extent necessary to comply with Treasury Regulation Section 1.409A-3(i)(5), or any successor thereto in effect at the time a
determination of whether a Change in Control has occurred is being made. If any one person, or persons acting as a group, is considered to effectively control the Company as described above, the acquisition of additional control by the same person
or persons is not considered to cause a Change in Control. 
 (g) “Code” shall mean the Internal Revenue Code of 1986, as amended.

 (h) “Committee” shall mean the Compensation Committee of the Board. 

(i) “Common Stock” shall mean the $.01 par value common stock of the Company. 

(j) “Company” shall, except as otherwise provided in Section 9, have the meaning set forth in the preamble hereto. 

(k) “Competitive Business” shall mean at any time during the Term and during the 12-month period immediately following the Date of
Termination, any entity (which term “entity” shall for purposes of this Section 1(k) include any subsidiaries, parent entities or other Affiliates thereof) that, as of the Date of Termination, competes with any of the businesses of
the Company. 
 (l) “Date of Termination” shall mean (i) if the Executive’s employment is terminated by his death, the
date of his death; (ii) if the Executive’s employment is terminated as a result of Disability, the date provided in Section 6(a)(ii); and (iii) if the Executive’s employment is

  
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terminated pursuant to Sections 6(a)(iii) — (vii), the date specified in the Notice of Termination (or if no such date is specified, the last day of the Executive’s active employment
with the Company), in each case provided in accordance with this Agreement. 
 (m) “Disability” shall mean “Disabled” as
such term is defined in Section 409A(a)(2)(C) of the Code. 
 (n) “Equity Incentive Plan” means the Company’s 2008 Equity
Incentive Plan, as amended from time to time (or any other equity based compensation plan or agreement that may be adopted or entered into by the Company from time to time). 

(o) “Executive” shall have the meaning set forth in the preamble hereto. 

(p) The Executive shall have “Good Reason” to resign employment upon the occurrence of any of the following without the
Executive’s prior written consent: 
 (i) failure of the Company to continue the Executive in the position of, and with the title of,
Senior Vice President, Chief Accounting Officer; 
 (ii) a material diminution or undue dilution in the nature or scope of the
Executive’s employment responsibilities, duties or authority, a material interference with the discharge of the Executive’s responsibilities, duties or authority or the assignment to the Executive of duties or responsibilities that are
materially and adversely inconsistent with his then position; 
 (iii) the Company’s material reduction of the Executive’s Annual
Base Salary; or any material reduction of any target incentive opportunity or employee benefits that the Executive is eligible to receive under Section 5(b) or 5(e) of this Agreement, respectively, other than an amendment, modification or
termination of an incentive compensation program or employee benefit that applies on a non-discriminatory basis to similarly situated employees; 

(iv) the Company’s material breach of this Agreement; or 

(v) the cessation of the stock of the Company to be publicly traded on an established securities market as a result of a Change in Control,
unless the Executive retains his title and position at the surviving publicly-traded entity; 
 provided, however, that notwithstanding the foregoing the
Executive may not resign his employment for Good Reason unless: (A) the Executive provides the Company with at least 30 days prior written notice of his intent to resign for Good Reason (which notice is provided not later than the 90th day
following the date on which the Executive becomes aware of the occurrence of the event constituting Good Reason), and (B) the Company does not remedy the alleged violation(s) within such 30-day period; and, provided, further, that
notwithstanding the foregoing if the Executive is suspended pursuant to Section 6(b), such suspension (and any corresponding diminution of the Executive’s title, duties or compensation, or other change to the Executive’s employment
arrangements described hereunder) shall not, in and of itself, give the Executive Good Reason to resign his employment. 

  
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 (q) “Intellectual Property” shall have the meaning set forth in Section 9(f). 

(r) “Non-Compete Term” shall have the meaning set forth in Section 9(a). 

(s) “Notice of Termination” shall have the meaning set forth in Section 6(b). 

(t) “Option” shall mean an option to purchase Common Stock pursuant to the Equity Incentive Plan, as amended from time to time (or
any other equity based compensation plan or agreement that may be adopted or entered into by the Company from time to time). 
 (u)
“Person” shall mean an individual, partnership, corporation, business trust, limited-liability company, joint stock company, trust, unincorporated association, joint venture, governmental authority or other entity of whatever nature. 

(v) “Pro-Rata Bonus” shall have the meaning set forth in Section 7(d). 

(w) “Release” shall have the meaning set forth in Section 7(b). 

(x) “Restricted Stock” shall mean a share or shares of Common Stock granted to the Executive pursuant to the Equity Incentive Plan,
as amended from time to time (or any other equity based compensation plan or agreement that may be adopted or entered into by the Company from time to time). 

(y) “Term” shall have the meaning set forth in Section 2. 

(z) “Voting Stock” means all capital stock of the Company which by its terms may be voted on all matters submitted to stockholders
of the Company generally. 
 2. Employment. Subject to Section 6, the Company shall employ the Executive and the
Executive shall continue in the employ of the Company as an employee at will pursuant to the terms of this Agreement, as may be amended (the “Term”). 

3. Position and Duties. The Executive shall serve as Senior Vice President, Chief Accounting Officer , with such duties
and responsibilities with respect to the Company and its Affiliates as the Company’s Chief Executive Officer (“CEO”) or Board of Directors (the “Board”) shall reasonably direct. The Executive shall serve without additional
compensation as director and/or officer for such Affiliates of the Company as the Board shall request consistent with Executive’s position hereunder. The Executive shall faithfully, honestly and diligently serve the interests of the Company;
shall comply with such lawful employment, workplace and other policies as the Company shall promulgate from time to time; and shall devote substantially all of his business time, attention and efforts, toward the performance of his duties under this
Agreement. Notwithstanding the foregoing, the Executive may manage his personal investments and be involved in charitable and unremunerated professional activities (including serving on charitable and professional boards), so long as such service
does not materially interfere with the performance of the Executive’s duties hereunder or violate Section 9 hereof. 

  
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 4. Place of Performance. In connection with his employment during the Term,
the Executive shall be based at the Company’s offices in New York, New York, except for necessary travel on the Company’s business. 

5. Compensation and Related Matters. 

(a) Annual Base Salary. At the commencement of the Term, the Executive shall receive a base salary at a rate of $300,000 per annum (the
“Annual Base Salary”), paid in accordance with the Company’s general payroll practices for executives, but no less frequently than monthly. The Company may, in its sole discretion, review and adjust the rate of Annual Base Salary
payable to the Executive in effect from time to time; provided, however, that any such modified rate shall thereafter be the rate of “Annual Base Salary” hereunder. 

(b) Bonus. With respect to 2012 and each subsequent fiscal year during the Term (or portion thereof), the Executive shall be eligible
to receive a bonus (the “Bonus”), as determined pursuant to the Company’s Executive Incentive Plan (or any similar or successor plan) (collectively, the “Bonus Plan”), and based on the Executive’s or the Company’s
attainment of objective financial or other operating criteria established by the Committee in its sole good faith discretion. The Executive will be eligible for a target bonus opportunity of 75% of the Executive’s Annual Base Salary. To receive
a Bonus, Executive must be in continuous employment with the Company through the date such bonus is paid. The Bonus for each fiscal year shall be paid to the Executive no later than 75 days following the completion of such fiscal year. 

(c) Equity Awards. The Executive shall be eligible to be granted Restricted Stock Units, Restricted Stock, Options and/or other equity
compensation awards at such time(s) and in such amount(s), and under such terms, as may be determined by the Committee in its sole discretion. For the avoidance of doubt, the Committee shall have complete and sole discretion as to whether to grant
awards (if any) under this Section 5(c). 
 (d) Benefits. The Executive (and his eligible dependents) shall be entitled to
receive such benefits (including, without limitation, fringe benefits and perquisites) and to participate in such employee benefit plans, including life, health and disability insurance policies and the Company’s Code Section 401(k) plan,
as are generally provided by the Company to its senior executives in accordance with the terms of such plans, practices and programs of the Company, as may be amended from time to time. 

(e) Expenses. The Company shall reimburse the Executive for all reasonable and necessary expenses incurred by the Executive in
connection with the performance of the Executive’s duties as an employee of the Company. Such reimbursement is subject to the submission to the Company by the Executive of appropriate documentation and/or vouchers in accordance with the
customary procedures of the Company for expense reimbursement, as such procedures may be revised by the Company from time to time and to such caps on reimbursements as the Company may from time to time impose. 

(f) Paid Time Off. The Company shall provide the Executive with Paid Time Off (“PTO”) based on length of service with the
Company in accordance with the Company’s 

  
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 PTO plan, as amended from time to time. The daily accrual is the annual accrual amount divided by the total days
in a year. PTO encompasses vacation days, personal days and sick days, including the waiting period for short term disability coverage. 

(g) Recoupment Policy. The Company may, from time to time, adopt and maintain a policy regarding the recoupment of bonus or other
incentive compensation (which may include equity awards) in the event of certain enumerated events, including a material restatement of the financial accounts of the Company. The Executive agrees that (i) any payments of bonus or other
incentive compensation hereunder shall be subject to recoupment in accordance with any such policy from time to time in effect, and (ii) in the event that bonus or other incentive compensation is recouped under any such policy from time to time
in effect, any severance pay determined by reference to such recouped bonus or incentive compensation shall automatically be adjusted and/or subject to recoupment to the amount that would have applied had such recouped bonus or incentive
compensation not been paid. 
 6. Termination. The Executive’s employment hereunder may be terminated by the
Company, on the one hand, or the Executive, on the other hand, as applicable, without any breach of this Agreement only under the following circumstances: 

(a) Terminations. 
 (i)
Death. The Executive’s employment hereunder shall terminate upon his death. 
 (ii) Disability. In the event of the
Executive’s Disability, the Company may give the Executive written notice of its intention to terminate the Executive’s employment while he remains so disabled. However, the Company may not terminate the Executive’s employment because
of a Disability unless the Disability is expected to be indefinite or for longer than the elimination period specified in any long-term disability plan maintained by the Company. All such decisions regarding the termination of Executive relating to
a disability shall be made consistent with the requirements of the Americans With Disabilities Act, as amended, and applicable state law. 

(iii) Cause. The Board may terminate the Executive’s employment hereunder for Cause in accordance with the terms of
Section 1(e) hereof. 
 (iv) Good Reason. The Executive may terminate his employment for Good Reason in accordance with the
terms of Section 1(p) hereof. 
 (v) Without Cause. The Company may terminate the Executive’s employment without Cause
upon 30 days written notice to the Executive. 
 (vi) Resignation without Good Reason. The Executive may resign his employment
without Good Reason upon 60 days written notice to the Company. 
 (b) Notice of Termination. Any termination of the Executive’s
employment by the Company or by the Executive under this Section 6 (other than termination pursuant to paragraph (a)(i)) shall be communicated by a written notice to the other party hereto indicating

  
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the specific termination provision in this Agreement relied upon, setting forth in reasonable detail any facts and circumstances claimed to provide a basis for termination of the Executive’s
employment under the provision so indicated, and specifying a Date of Termination in accordance with this Agreement (a “Notice of Termination”); provided, the Company may suspend the Executive from his position with full pay during any
notice period. The Company may terminate the Executive’s employment at any time after the Executive provides notice of termination due to resignation pursuant to Section 6(a)(vi), and such termination will be treated as a resignation under
Section 6(a)(vi) for all purposes of this Agreement. 
 (c) Upon the occurrence of any termination of the Executive’s employment
with the Company, the Executive shall and shall be deemed to have immediately resigned from any and all boards, offices, committees and fiduciary positions on or in which he is then serving at the request of the Company or any Affiliate and, upon
demand by the Company, shall promptly tender to the Company a written resignation letter effecting the foregoing. 
 7. Severance
Payments and Benefits. 
 (a) Termination for any Reason. In the event the Executive’s employment with the Company
is terminated for any reason, as soon as reasonably practicable after such termination the Company shall pay the Executive (or his beneficiary in the event of his death) (i) a lump sum equal to any unpaid Annual Base Salary that has accrued as
of the Date of Termination, (ii) any unreimbursed expenses due to the Executive for which he has submitted acceptable supporting documentation, (iii) an amount for any accrued but unused PTO time and (iv) any earned but unpaid Bonus
for any fiscal year of the Company completed prior to the date of such termination. The Executive shall also be entitled to accrued, vested benefits under the Company’s benefit plans and programs as provided therein. The Executive shall be
entitled to the cash severance payments described below only as set forth herein, and the provisions of this Section 7 shall supersede in their entirety any severance payment provisions in any severance plan, policy, program or arrangement
maintained by the Company. 
 (b) Terminations without Cause or for Good Reason. Except as otherwise provided by
Section 7(c) with respect to certain terminations of employment after a Change in Control, if the Executive’s employment is terminated by the Company without Cause (pursuant to Section 6(a)(v)), or by the Executive for Good Reason
(pursuant to Section 6(a)(iv)), the Company shall (subject to the Executive’s entering into (and not revoking) a General Release with the Company in substantially the form attached hereto as Exhibit A (the
“Release”)): 
 (i) Pay to the Executive as severance an amount equal to Executive’s then current Annual Base Salary in
equal monthly installments during the period beginning on the Date of Termination and ending the first anniversary thereof; provided, however, that no amount shall be payable on or following the date the Executive first (A) breaches any of the
covenants set forth in Sections 9(a) or 9(b) or (B) materially breaches any of the covenants set forth in Section 9(c) or 9(f), which is not remedied (if remediable) within 30 days after receipt of written notice from the Company
specifying the breach; 
 (ii) Continue to provide, at the Company’s expense, the Executive (and his eligible dependents) with the
medical, dental and life insurance coverage in which he 

  
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(and/or his eligible dependents) was participating as of the Date of Termination (at a level then in effect with respect to coverage and employee premiums) until the first anniversary of the Date
of Termination. Notwithstanding the foregoing, no subsidy for medical or dental coverage described in the preceding sentence shall apply to the extent the Company reasonably determines that providing such subsidy would expose the Company (or any
health plan thereof) to additional taxes or penalties with respect to the provision of such benefits on a discriminatory basis; and 

(iii) Pay the Executive a Pro-Rata Bonus, as defined in Section 7(d), when bonuses are paid for the year of termination. 

(c) Certain Terminations after a Change in Control. If the Executive’s employment is terminated by the Company without Cause
(pursuant to Section 6(a)(v)) or by the Executive for Good Reason (pursuant to Section 6(a)(iv)) during the period commencing on and ending 12-months after, a Change in Control, in any such case, the Company shall (subject to the
Executive’s entering into (and not revoking) the Release): 
 (i) Pay to the Executive an amount equal to the product of (A) the
sum of his then-current (i) Annual Base Salary and (ii) the greater of (1) the Bonus paid or payable to Executive with respect to the fiscal year ending immediately prior to the Date of Termination or (2) the Target Bonus for the
year of termination, and (B) one; payable in cash in a lump sum as soon as reasonably practicable after such termination but in no event later than five (5) business days thereafter; 

(ii) Continue to provide, at the Company’s expense, the Executive (and his eligible dependents) with the medical, dental and life
insurance coverage in which he (or his dependents) was participating as of the Date of Termination (at a level then in effect with respect to coverage and employee premiums) for twelve (12) months following the Date of Termination.
Notwithstanding the foregoing, no subsidy for medical or dental coverage described in the preceding sentence shall apply to the extent the Company reasonably determines that providing such subsidy would expose the Company (or any health plan
thereof) to additional taxes or penalties with respect to the provision of such benefits on a discriminatory basis; and 
 (iii) Pay
Executive a Pro-Rata Bonus, as defined in Section 7(d), when bonuses are paid for the year of termination; 
 (iv) All Restricted
Stock units, Options and other equity compensation awards then held by the Executive shall become fully vested, free from restriction and/or exercisable for the balance of their respective terms with respect to all shares subject thereto; and 

(v) Notwithstanding any other provision of this Agreement, the parties acknowledge and agree that Sections 7(b) and 7(c) shall operate in the
alternative. 
 (d) Termination by Reason of Disability or Death. If the Executive’s employment shall terminate by reason of his
Disability (pursuant to Section 6(a)(ii)) or death (pursuant to Section 6(a)(i)), then the Company shall pay to the Executive (or Executive’s estate), when bonuses are paid for the year of termination, a pro-rated amount of the
Executive’s Bonus for the fiscal year in which the Date of Termination occurs equal to the product of (i) the amount of the Bonus the Executive would have otherwise earned had he been employed by the 

  
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Company on the last day of the fiscal year in which the Date of Termination occurs and (ii) the ratio of (A) the number of days elapsed during such fiscal year prior to the Date of
Termination to (B) 365 (the “Pro-Rata Bonus”), and provide the Executive (and his eligible dependents), as applicable, with the continued health coverage described in Section 7(b)(ii). 

(e) Survival. The expiration or termination of the Term shall not impair the rights or obligations of any party hereto which shall have
accrued hereunder prior to such expiration. 
 (f) No Mitigation/Set-Off. The Executive shall have no obligation to mitigate any
payments due hereunder. Any amounts earned by the Executive from other employment shall not offset amounts due hereunder, except as provided in this Section 7. The Company’s obligation to pay the Executive the amounts provided hereunder
shall not be subject to set-off, counterclaim or recoupment of amounts owed by the Executive to the Company or its affiliates, except (i) as provided by Section 7 and/or (ii) for any specific, stated amounts owed by the Executive to
the Company, in which case set-off shall be made in a manner consistent with the requirements of Code Section 409A. 
 8. Code
Section 409A Compliance. 
 (a) Where Section 7 refers to the Executive’s termination of employment for
purposes of receiving any payment, whether such a termination has occurred will be determined in accordance with Section 409A of the Internal Revenue Code and Treasury Regulation Section 1.409A-1(h) (or any successor provisions). 

(b) Where the Agreement requires the following payments to be made to the Executive, the following rules shall apply, and any inconsistent
provision is superseded: 
 (i) To the extent that this Agreement requires that a payment shall be made upon or as soon as reasonably
practicable after an event (e.g., termination of employment), such payment shall be made no later than 60 days after the occurrence of such event (or, if earlier, within 2 1⁄2 months following the end of the Executive’s taxable year in which such event occurs). The Executive may not designate the year such payment. 

(ii) To the extent that any payment in Section 7 is contingent upon the Executive entering into a Release, the Executive shall sign and
return the separation and release agreement within the reasonable time period designated by the Company, in order to assure that payment shall be made within the time period set forth in paragraph (i) above, but not prior to expiration of any
period specified for revocation of the Release by the Executive. In the event such 60 day period crosses calendar years, severance payments shall be made in the later calendar year. Any payments that would otherwise be made during the period for
review and revocation of the Release will be made on the next regularly scheduled payment date after such period ends. 
 (iii) To the
extent that the Agreement provides for the reimbursement of specified expenses incurred by the Executive, such reimbursement shall be made in accordance with the provisions of the Agreement, but in no event later than the last day of the
Executive’s taxable year following the taxable year in which the expense was incurred. The 

  
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amount of expenses eligible for reimbursement or in-kind benefits provided by the Company in any taxable year of the Executive shall not affect the amount of expenses or in-kind benefits to be
reimbursed or provided in any other year (except in the case of maximum benefits to be provided under a medical reimbursement arrangement, if applicable). 

(iv) Bonus otherwise payable under the Agreement after the end of a bonus plan performance period shall be paid within 2 1⁄2 months after the end of the fiscal year of the Company to which such Bonus relates. 

(c) Payments in respect of the Executive’s termination of employment under Section 7 of the Agreement are designated as separate
payments for purposes of the short-term deferral rules under Treasury Regulation Section 1.409A-1(b)(4)(i)(F) and the exemption for involuntary terminations under separation pay plans under Treasury Regulation Section 1.409A-1(b)(9)(iii).
As a result, (i) any payments that become vested as a result of the Executive’s termination of employment under Section 7 that are made on or before the 15th day of the third month of the calendar year following the calendar year of
the Executive’s termination of employment, and (ii) any additional payments that are made on or before the last day of the second calendar year following the year of the Executive’s termination of employment and do not exceed the
lesser of two times Base Salary or two times the limit under Code Section 401(a)(17) then in effect, and (iii) the payment of medical expenses within the applicable COBRA period, are exempt from the requirements of Code Section 409A.

 (d) If the Executive is designated as a “specified employee” within the meaning of Code Section 409A (and Company is
publicly traded on any securities market), to the extent that any deferred compensation payments to be made during the first six month period following Executive’s termination of employment exceed such exempt amounts, the payments shall be
withheld and the amount of the payments withheld will be paid in a lump sum, without interest, during the seventh month after Executive’s termination; provided, however, that if the Executive dies prior to the expiration of such six month
period, payment to the Executive’s beneficiary shall be made as soon as practicable following the Executive’s death. The Company shall identify in writing delivered to the Executive any payments it reasonably determines are subject to
delay under this Section 8(d). 
 (e) In no event shall the Company have any liability or obligation with respect to taxes for which
the Executive may become liable as a result of the application of Code Section 409A. 
 9. Certain Restrictive
Covenants. 
 (a) The Executive shall not, at any time during the Term or during the 12-month period following the Date of
Termination (the “Non-Compete Term”) without the Board’s prior written consent, as described below, directly or indirectly engage in, have any equity interest in, or manage or operate (whether as a director, officer, employee, agent,
representative, security holder, consultant or otherwise) any Competitive Business; provided, however, that: (i) the Executive shall be permitted to acquire a passive stock or equity interest in such a Competitive Business provided the stock or
other equity interest acquired is not more than five percent (5%) of the outstanding interest in such a Competitive Business; (ii) the Executive shall 

  
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be permitted to acquire any investment through a mutual fund, private equity fund or other pooled account that is not controlled by the Executive and in which he has less than a five percent
(5%) interest; or (iii) the Executive may provide services to a subsidiary, division or Affiliate of a Competitive Business if such subsidiary, division or Affiliate is not itself engaged in a Competitive Business and the Executive does
not provide services to, or have any responsibilities regarding, the Competitive Business. At any time during the Non-Compete Term following the Date of Termination, the Executive may request in writing directed to the CEO that the Company consent
to the Executive’s direct or indirect engagement in, ownership of equity interest in, or management or operation of (whether as a director, officer, employee, agent, representative, security holder, consultant or otherwise) any Competitive
Business, which request the Company shall consider in good faith, but with regard to the best interests of the Company. 
 (b) During the 12
month period following the Date of Termination, the Executive shall not, directly or indirectly (i) recruit, hire or otherwise solicit any person employed by the Company, its subsidiaries, or any of their respective Affiliates as of the
Termination Date; (ii) recruit, hire or otherwise solicit for employment any person known by the Executive (after reasonable inquiry) to be employed at the time by the Company, its subsidiaries, or any of their respective Affiliates as of the
date of the solicitation; or (iii) recruit or otherwise solicit or induce any non-clerical employee, director, consultant, wholesale customer, vendor, supplier, lessor or lessee of the Company to terminate his or its employment or arrangement
with the Company or otherwise change its relationship with the Company; provided, however, that nothing in this Section 9(b) shall prohibit the Executive from providing employment, personal or other references for any such Person or from
general advertising for employees by the Executive or any Person of which the Executive is an employee or Affiliate. 
 (c) Except as the
Executive deems necessary (or, in good faith, desirable) to be disclosed in connection with the performance of the Executive’s duties as an active employee of the Company hereunder, or as specifically set forth in this Section 9, the
Executive shall, in perpetuity, maintain in confidence and shall not directly, indirectly or otherwise, use, disseminate, disclose or publish, or use for his benefit or the benefit of any person, firm, corporation or other entity any confidential or
proprietary information or trade secrets of or relating to the Company, including, without limitation, information with respect to the Company’s operations, processes, products, inventions, business practices, finances, principals, vendors,
suppliers, customers, potential customers, marketing methods, costs, prices, contractual relationships, regulatory status, business plans, designs, marketing or other business strategies, compensation paid to employees or other terms of employment,
or deliver to any person, firm, corporation or other entity any document, record, notebook, computer program or similar repository of or containing any such confidential or proprietary information or trade secrets. Notwithstanding anything herein to
the contrary, nothing shall prohibit the Executive from disclosing any information (i) that is generally known by the public (unless such knowledge occurs as a result of the Executive’s breach of any portion of this Section 9(c));
(ii) when disclosure is required by law or by any court, arbitrator, mediator or administrative or legislative body (including any committee thereof) with apparent jurisdiction to order the Executive to disclose or make accessible any
information, provided that, unless otherwise prohibited by law and provided such information is not related to any illegal activities of the Company or any of its subsidiaries, the Executive shall provide the Company with prompt notice of any such
requested 

  
 12 

 
or required disclosure and shall reasonably cooperate with the Company in any effort by the Company to prevent or otherwise contest such disclosure; or (iii) with respect to any other
litigation, arbitration or mediation involving this Agreement, including, but not limited to, the enforcement of this Agreement. The parties hereby stipulate and agree that as between them the foregoing matters are important, material and
confidential proprietary information and trade secrets and affect the successful conduct of the businesses of the Company (and any successor or assignee of the Company). 

(d) Upon termination of the Executive’s employment with the Company for any reason, the Executive will promptly deliver to the Company
all correspondence, drawings, manuals, letters, notes, notebooks, reports, programs, plans, proposals, financial documents, or any other documents concerning the Company’s customers, business plans, designs, marketing or other business
strategies, products or processes, provided that the Executive may retain (i) papers and other materials of a personal nature, including, but not limited to, photographs, correspondence, personal diaries, calendars and rolodexes, personal files
and phone books; (ii) information showing his compensation or relating to reimbursement of expenses; (iii) information that he reasonably believes may be needed for tax purposes; (iv) copies of plans, programs and agreements relating
to his employment, or termination thereof, with the Company; and (v) copies of minutes, presentation materials and personal notes from any meeting of the Board, or any committee thereof, while he was a member of the Board. 

(e) The Executive shall reasonably cooperate with and assist the Company and its counsel at any time and in any manner reasonably required by
the Company or its counsel (with due regard for the Executive’s other commitments if he is not employed by the Company) in connection with any investigation conducted by or on behalf of the Company or any litigation or other legal process
affecting the Company of which the Executive has knowledge as a result of his employment with the Company (other than any litigation with respect to this Agreement). In any event, (i) in any matter subject to this Section 9(e), the
Executive shall not be required to act against the best interests of any new employer or new business venture in which he is a partner or active participant and (ii) any request for such cooperation shall take into account (A) the
significance of the matters at issue in the litigation, arbitration, proceeding or investigation and (B) the Executive’s other personal and business commitments. The Company agrees to provide the Executive reasonable notice in the event
his assistance is required. The Company will reimburse the Executive for all reasonable expenses and costs he may incur as a result of providing such assistance, including lost wages (except during any period Executive may be receiving severance
payments from the Company), travel costs and legal fees, provided that the Company’s General Counsel believes such separate representation is warranted, and the Company approves the selection of counsel. The Executive’s entitlement to
reimbursement of expenses, including legal fees pursuant to this Section 9(e), shall in no way affect the Executive’s rights to be indemnified and/or advanced expenses in accordance with the Company’s corporate documents, insurance
policies and/or in accordance with this Agreement. 
 (f) The Executive shall not disparage the Company, any of its products or practices,
or any of its directors, officers, or employees, whether orally, in writing or otherwise, at any time. The Company’s Senior Management and Board shall not disparage the Executive, whether orally, in writing or otherwise, at any time.
Notwithstanding the foregoing: nothing in this Section 9(f) shall (i) limit the ability of the Company or the Executive, as applicable, to 

  
 13 

 
provide truthful testimony as required by law or any judicial or administrative process, or (ii) prevent the Company from (A) responding publicly to incorrect, disparaging or derogatory
public statements to the extent reasonably necessary to correct or refute such public statement or (B) prevent any Person from making any truthful statement to the extent necessary in any litigation, arbitration or mediation proceeding
involving this Agreement, including, but not limited to, the enforcement of this Agreement. In no event shall any termination of the Executive’s employment by the Company or the Executive for any reason constitute disparagement for purposes of
this Section 9(f). 
 (g) The Executive agrees that all strategies, methods, processes, techniques, marketing plans, merchandising
schemes, themes, layouts, mechanicals, trade secrets, copyrights, trademarks, patents, ideas, specifications and other material or work product (“Intellectual Property”) that the Executive creates, develops or assembles in connection with
his employment hereunder shall become the permanent and exclusive property of the Company to be used in any manner it sees fit, in its sole discretion. The Executive shall not communicate to the Company any ideas, concepts, or other intellectual
property of any kind (other than that required in his capacity as an officer of the Company) which (i) were earlier communicated to the Executive in confidence by any third party as proprietary information, or (ii) the Executive knows or
has reason to know is the proprietary information of any third party. The Company and the Executive mutually agree that all Intellectual Property and work product created in connection with this Agreement, which is subject to copyright, shall be
deemed to be “work made for hire,” and that all rights to copyrights shall be vested in the Company. If for any reason the Company cannot be deemed to have commissioned “work made for hire,” and its rights to copyright are
thereby in doubt, then the Executive agrees not to claim to be the proprietor of the work prepared for the Company, and to irrevocably assign to the Company, at the Company’s expense, all rights in the copyright of the work prepared for the
Company. 
 (h) The Company and the Executive expressly acknowledge and agree that the agreements and covenants contained in this
Section 9 are reasonable. In the event, however, that any agreement or covenant contained in this Section 9 shall be determined by any court of competent jurisdiction or arbitrator to be unenforceable by reason of its extending for too
great a period of time or over too great a geographical area or by reason of its being too extensive in any other respect, it will be interpreted to extend only over the maximum period of time for which it may be enforceable, and/or over the maximum
geographical area as to which it may be enforceable and/or to the maximum extent in all other respects as to which it may be enforceable, all as determined by such court or arbitrator in such action. 

(i) As used in this Section 9, the term “Company” shall include the Company and any of its direct or indirect subsidiaries
within the meaning of Code Section 424(f). 
 (j) Any limitation on the Executive’s activities or any forfeiture of benefits,
equity or compensation based on violation of limitations on the Executive’s activities shall not be based on any limitation that is any broader than those set forth in this Section 9. 

10. Specific Performance. It is recognized and acknowledged by the Executive and the Company that a breach by such Person
of such Person’s covenants contained in Section 9 will cause irreparable damage to the Company or the Executive, as applicable, and its or his 

  
 14 

 
goodwill or reputation, the exact amount of which will be difficult or impossible to ascertain, and that the remedies at law for any such breach will be inadequate. Accordingly, the parties agree
that in the event a party breaches any covenant contained in Section 9, in addition to any other remedy which may be available at law or in equity (or under any other agreement between the Company and the Executive), the other party will be
entitled to specific performance and injunctive relief. 
 11. Purchases and Sales of the Company’s Securities.
The Executive agrees to use his reasonable best efforts to comply in all respects with the Company’s applicable written policies regarding the purchase and sale of the Company’s securities by employees, as such written policies may be
amended from time to time and disclosed to the Executive. In particular, and without limitation, the Executive agrees that he shall not purchase or sell Company securities while an employee during any “trading blackout period” as may be
determined by the Company and set forth in the Company’s applicable written policies from time to time. 
 12. Cooperation
Regarding Insurance. The Company and/or any of its subsidiaries, divisions or Affiliates may, from time to time, apply for and obtain, for its or their benefit and at its or their sole expense, key man life, health, accident,
disability, or other insurance upon the Executive, in any amounts that it or they may deem necessary or desirable to protect its or their respective interests, and the Executive agrees to reasonably cooperate with and assist the Company or any such
subsidiary, division or Affiliate in obtaining any and all such insurance by submitting to all reasonable medical examinations, if any, and by filling out, executing and delivering any and all insurance applications and other instruments as may be
reasonably necessary to obtain such insurance. 
 13. Representations. 

(a) The Executive hereby represents and warrants, to the best of his knowledge, that he is not a party to or bound by any agreement,
arrangement or understanding, written or otherwise, which prohibits or in any manner restricts his ability to enter into and fulfill his obligations under this Agreement (other than confidentiality obligations with any of the Executive’s prior
employers). The parties acknowledge and agree that the Executive shall not use or disclose, or be permitted to use or disclose, any confidential or proprietary information belonging to any prior employer in connection with the performance of his
duties under this Agreement. 
 (b) The Company represents and warrants that (i) it is fully authorized to enter into this Agreement
and perform its obligations; (ii) the execution, delivery and performance of this Agreement by it does not and will not violate any applicable law, regulation, order, judgment or decree or any agreement, plan or corporate governance document to
which it is a party or by which it is bound; and (iii) upon the execution and delivery of this Agreement by the parties, this Agreement shall be a valid and binding obligation of the Company, enforceable against it in accordance with its terms.

 14. Delegation and Assignment. The Executive shall not delegate his employment obligations under this Agreement to
any other person. The Company may not assign any of its obligations hereunder other than to any entity that acquires (by purchase, merger or otherwise) 

  
 15 

 
all or substantially all of the Voting Stock or assets of the Company, provided such acquirer promptly assumes all of the obligations hereunder of the Company in a writing delivered to the
Executive. In the event of the Executive’s death while he is receiving severance hereunder, the remainder shall be paid to his estate. In the event of a merger or other combination, or the sale or liquidation of business and assets, the Company
shall use its reasonable best efforts to cause such assignee or transferee to promptly and expressly assume the liabilities, obligations and duties of the Company hereunder. 

15. Notices. Any written notice required by this Agreement will be deemed provided and delivered to the intended
recipient when (a) delivered in person by hand; or (b) three (3) days after being sent via U.S. certified mail, return receipt requested; or (c) one (1) day after being sent via by overnight courier, in each case when such
notice is properly addressed to the following address and with all postage and similar fees having been paid in advance: 
 If to the Company: 

Monster Worldwide, Inc. 
 622 Third Avenue 

New York, New York 10017 
 Attn: General Counsel 

with a copy to: 
 Seyfarth Shaw LLP 

620 Eighth Avenue, 31st Floor 
 New York, NY 10018 

Attn: Robert Nobile, Esq. 
 If to the Executive: to him at the
most recent address in the Company’s records. 
 Either party may change the address to which notices, requests, demands and other communications to
such party shall be delivered personally or mailed by giving written notice to the other party in the manner described above. 
 16.
Binding Effect. This Agreement shall be for the benefit of and binding upon the parties hereto and their respective heirs, personal representatives, legal representatives, successors and, where applicable, permitted assigns. 

17. Entire Agreement. This Agreement and any indemnification agreement between the Executive and the Company constitute
the entire agreement between the parties with respect to the subject matter described in this Agreement and supersedes all prior agreements, understandings and arrangements, both oral and written, between the parties with respect to such subject
matter. This Agreement may not be modified, amended, altered or rescinded in any manner, except by written instrument signed by both of the parties hereto; provided, however, that the waiver by either party of a breach or compliance with any
provision of this Agreement shall not operate nor be construed as a waiver of any subsequent breach or compliance. 

  
 16 

 18. Severability. In case any one or more of the provisions of this
Agreement shall be held by any court of competent jurisdiction or any arbitrator selected in accordance with the terms hereof to be illegal, invalid or unenforceable in any respect, such provision shall have no force and effect, but such holding
shall not affect the legality, validity or enforceability of any other provision of this Agreement; provided, however, that subsequent to the severing of such provision from this Agreement, the parties shall negotiate in good faith to amend this
Agreement to contain an enforceable provision (if at all possible) representing the intent of the parties with respect to such severed provision. 

19. Dispute Resolution and Arbitration. In the event that any dispute arises between the Company and the Executive
regarding or relating to this Agreement and/or any aspect of the Executive’s employment relationship with the Company, AND IN LIEU OF LITIGATION AND A TRIAL BY JURY, the parties consent to resolve such dispute through mandatory arbitration in
New York City under the then prevailing rules of the Judicial Arbitration and Mediation Services (“JAMS”), before a single arbitrator mutually agreed to by the parties, or, if an arbitrator has not been agreed upon by the 60th day of the
demand for arbitration by either party, appointed by JAMS. The parties hereby consent to the entry of judgment upon award rendered by the arbitrator in any court of competent jurisdiction. Notwithstanding the foregoing, however, should adequate
grounds exist for seeking immediate injunctive or immediate equitable relief, any party may seek and obtain such relief in a court of competent jurisdiction as set forth herein. The parties hereby consent to the exclusive jurisdiction in the state
and Federal courts of or in the State of New York for purposes of seeking such injunctive or equitable relief as set forth above. The parties acknowledge and agree that, in connection with any such arbitration and regardless of outcome,
(a) each party shall pay all of its own costs and expenses, including without limitation its own legal fees and expenses, and (b) joint expenses shall be borne equally among the parties. Notwithstanding the foregoing, the arbitrator may
cause the losing party to pay to the winning party (each as determined by the arbitrator consistent with its decision on the merits of the arbitration) an amount equal to any reasonable out-of-pocket costs and expenses incurred by the winning party
with respect to such arbitration (as may be equitably determined by the arbitrator). 
 20. Choice of Law. The
Executive and the Company intend and hereby acknowledge that jurisdiction over disputes with regard to this Agreement, and over all aspects of the relationship between the parties hereto, shall be governed by the laws of the State of New York
without giving effect to its rules governing conflicts of laws. 
 21. Section Headings. The section headings contained
in this Agreement are for reference purposes only and shall not affect in any manner the meaning or interpretation of this Agreement. 

22. Construction. The parties have participated jointly in the negotiation and drafting of this Agreement. In the event
that an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship
of any of the provisions of this Agreement. Any reference to any federal, state, local or foreign statute or law shall be deemed also to refer to all rules and regulations promulgated thereunder, unless the context requires otherwise. The word
“including” shall mean including without limitation. If 

  
 17 

 
any provision of any agreement, plan, program, policy, arrangement or other written document between or relating to the Company and the Executive conflicts with any provision of this Agreement,
the provision of this Agreement shall control and prevail, unless the parties otherwise agree with specific reference to this Section 22. 

23. Counterparts. This Agreement may be executed in any number of counterparts and by facsimile or pdf, each of which
shall be deemed an original, but all of which taken together shall constitute one and the same instrument. 
 24.
Withholding. The Company shall be entitled to withhold from any amounts payable under this Agreement any federal, state, local or foreign withholding or other taxes or charges which the Company is required to withhold pursuant to
applicable law. The Company shall be entitled to rely on an opinion of counsel if any questions as to the amount or requirement of withholding shall arise. 

25. Survivorship. Except as otherwise expressly set forth in this Agreement, to the extent necessary to carry out the
intentions of the parties hereunder, the respective rights and obligations of the parties hereunder shall survive any termination of the Executive’s employment. 

IN WITNESS WHEREOF, the parties have executed this Agreement on the date and year first above written. 

 

			
	MONSTER WORLDWIDE, INC.
	
	 /s/ Lise Poulos

	By:	 	Lise Poulos
	Its:	 	Executive Vice President
		 	Chief Administrative Officer
	
	EXECUTIVE
	
	 /s/ Michael McGuinness

	Michael McGuinness

  
 18 

 EXHIBIT A 

General Release 
 IN
CONSIDERATION OF good and valuable consideration, the receipt of which is hereby acknowledged, and in consideration of the terms and conditions contained in the Employment Agreement, dated as of May 28, 2012, (the “Agreement”) by and
between Michael McGuinness (the “Executive”) and Monster Worldwide, Inc. (the “Company”), the Executive on behalf of himself and his heirs, executors, administrators, and assigns, releases and discharges the Company and its past
present and future subsidiaries, divisions, affiliates and parents, and their respective current and former officers, directors, employees, agents, and/or owners, and their respective successors, and assigns and any other person or entity claimed to
be jointly or severally liable with the Company or any of the aforementioned persons or entities (the “Released Parties”) from any and all manner of actions and causes of action, suits, debts, dues, accounts, bonds, covenants, contracts,
agreements, judgments, charges, claims, and demands whatsoever (“Losses”) which the Executive and his heirs, executors, administrators, and assigns have, had, or may hereafter have, against the Released Parties or any of them arising out
of or by reason of any cause, matter, or thing whatsoever from the beginning of the world to the date hereof, including without limitation, any and all matters relating to the Executive’s employment by the Company and the cessation thereof, and
any and all matters arising under any federal, state, or local statute, rule, or regulation, or principle of contract law or common law, including but not limited to, the Family and Medical Leave Act of 1993, as amended, 29 U.S.C.
§§ 2601 et seq., Title VII of the Civil Rights Act of 1964, as amended, 42 U.S.C. §§ 2000 et seq., the Age Discrimination in Employment Act of 1967, as amended, 29 U.S.C.
§§ 621 et seq. (the “ADEA”), the Americans with Disabilities Act of 1990, as amended, 42 U.S.C. §§ 12101 et seq., the Worker Adjustment and Retraining Notification Act of 1988,
as amended, 29 U.S.C. §§2101 et seq., the Employee Retirement Income Security Act of 1974, as amended, 29 U.S.C. §§ 1001 et seq., the New York State and New York City Human
Rights Laws, the New York Labor Laws, and any other equivalent or similar federal, state, or local statute; provided, however, that the Executive does not release or discharge the Released Parties from any of the Company’s obligations to him
under the Agreement, any vested benefit the Executive may be due under a tax qualified plan sponsored or maintained by the Company, Executive’s right to challenge the validity of this Release under the ADEA, or Executive’s right to file an
administrative charge of discrimination with the Equal Employment Opportunity Commission (“EEOC”) or a state fair employment agency. Executive agrees, however, that should he file a claim with the EEOC or a state agency, he waives his
right to monetary or any other form of recovery or relief in connection with any claims he may file or which may be filed on his behalf by a third party. It is understood that nothing in this general release is to be construed as an admission on
behalf of the Released Parties of any wrongdoing with respect to the Executive, any such wrongdoing being expressly denied. 
 The Executive
represents and warrants that he fully understands the terms of this general release, that he has been encouraged to seek, and has sought, the benefit of advice of legal counsel, and that he knowingly and voluntarily, of his own free will, without
any duress, being fully informed, and after due deliberation, accepts its terms and signs below as his own free act. Except as otherwise provided herein, the Executive understands that as a result of executing this general release, he will not have
the right to assert that the Company or any other of the Released Parties unlawfully terminated his employment or violated any of his rights in connection with his employment or otherwise. 

  
 19 

 The Executive further represents and warrants that he has not filed, and will not initiate, or
cause to be initiated on his behalf any complaint, charge, claim, or proceeding against any of the Released Parties before any federal, state, or local agency, court, or other body relating to any claims barred or released in this General Release
thereof, and will not voluntarily participate in such a proceeding except as specifically set forth herein. The Executive shall not accept any relief obtained on his behalf by any government agency, private party, class, or otherwise with respect to
any claims covered by this General Release. 
 The Executive may take twenty-one (21) days to consider whether to execute this General
Release. Upon the Executive’s execution of this general release, the Executive will have seven (7) days after such execution in which he may revoke such execution. In the event of revocation, the Executive must present written notice of
such revocation to the office of the Company’s Corporate Secretary, which must be sent by email, by messenger, or by regular mail, postmarked during this seven (7) day period. If no receipt of such notice of revocation is duly received,
this General Release shall become binding and effective. 
 INTENDING TO BE LEGALLY BOUND, I hereby set my hand below: 

 

	
	  

	
	Dated:                    

  
 20EX-4.2

 Exhibit 4.2 

THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, PLEDGED, OR
OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT OR OTHERWISE IN ACCORDANCE WITH APPLICABLE LAW. 

WARRANT TO PURCHASE STOCK 
  

			
	Company:	  	Management Dynamics Inc.
	Number of Shares:	  	368,182 Shares
	Class of Stock:	  	Common Stock
	Initial Exercise Price:	  	$2.20 per share
	Issue Date:	  	March 26, 2007
	Expiration Date:	  	March 26, 2014

 THIS WARRANT CERTIFIES THAT, for value received, receipt of which is hereby acknowledged, ORIX
Venture Finance LLC (“Holder”) is entitled to purchase the number of fully paid and nonassessable shares of the Class of Stock (the “Shares”) of Management Dynamics Inc. (the “Company”) at the initial
exercise price per Share (the “Warrant Price”) set forth above, as constituted on the date hereof and as adjusted pursuant to the other terms of this Warrant, subject to the provisions and upon the terms and conditions set forth in this
Warrant. This Warrant is being issued pursuant to an Amended and Restated Schedule to Loan and Security Agreement between the Company and Holder dated as of the date hereof, which amends the Schedule to the Loan and Security Agreement between the
Company and Holder dated July 6, 2006 (as amended, the “Loan Agreement”) (Capitalized terms used herein, which are not defined, shall have the meanings set forth in the Loan Agreement.) 

ARTICLE 1. SHARES; EXERCISE. 
 1.1
Number of Shares. The number of Shares initially subject to this Warrant shall initially be the number of Shares set forth above. In the event that the Company does not borrow the full amount of Tranche B of the Term Loan, then the number of
Shares initially subject to this Warrant shall be reduced as follows: The number of Shares subject to this Warrant shall be reduced by (i) a number of Shares equal to the difference between $4,000,000 and the total amount of Tranche B of the
Term Loan borrowed by Borrower, (ii) multiplied by 9%, and (iii) divided by the Warrant Price (the “Reduction Shares”); provided that if, prior to any borrowing of Tranche B of the Term Loan, there is an Acquisition (as defined
in Section 1.9 below), then there shall be no reduction in the number of Shares initially subject to this Warrant under this Section 1.1. Notwithstanding anything herein to the contrary, in no event shall Holder be entitled to exercise
this Warrant as to any of the Reduction Shares prior to consummation of an Acquisition, nor shall the Holder be entitled to exercise this Warrant as to any of the Reduction Shares after February 28, 2008 (or any later date to which the parties
have agreed in writing to extend the period during Tranche B of the Term Loan may be disbursed). For example, if at a particular date the Borrower had borrowed only $1,000,000 of Tranche B of the Term Loan, then the number of Reduction Shares at
such date would be 122,727 Shares (($4,000,000 minus $1,000,000) multiplied by 9% and divided by $2.20), and, at such date, Holder would only be entitled to exercise this Warrant as to up to 245,455 Shares (368,182 Shares minus 122,727 Shares),
unless an Acquisition had been consummated. 

  
 -1- 

 1.2 Method of Exercise. Holder may exercise this Warrant by delivering (including a
facsimile transmission) a duly executed Notice of Exercise in substantially the form attached as Appendix 1 to the principal office of the Company. Unless Holder is exercising the conversion right set forth in Section 1.3, Holder shall also
deliver to the Company the aggregate Warrant Price for the Shares being purchased (i) by wire transfer or by check, or (ii) by notice of cancellation of indebtedness of the Company to Holder, or (iii) a combination of (i) or
(ii). 
 1.3 Conversion Right. In lieu of exercising this Warrant as specified in Section 1.2, Holder may from time to time
convert this Warrant, in whole or in part, into a number of Shares determined by dividing (a) the aggregate fair market value of the Shares upon the proposed whole or partial exercise of this Warrant minus the aggregate Warrant Price of such
Shares by (b) the fair market value of one Share. The fair market value of the Shares shall be determined pursuant to Section 1.6 below. 

1.4 Effective Date of Exercise. This Warrant shall be deemed to have been exercised immediately prior to the close of business on the
date of its surrender for exercise as provided above. The person entitled to receive the Shares issuable upon exercise of this Warrant shall be treated for all purposes as the holder of record of such shares as of the close of business on the date
the Holder is deemed to have exercised this Warrant. 
 1.5 No Rights of Shareholder. This Warrant does not entitle Holder to any
voting rights as a shareholder of the Company prior to the exercise hereof. Upon exercise hereof, as set forth herein, the Holder shall be deemed to be a shareholder of the Company holding the number of shares as to which this Warrant has been
exercised on the date the Notice of Exercise in substantially the form attached as Appendix 1 has been delivered to the principal office of the Company with any payment or other documents called for by the terms hereof. 

1.6 Fair Market Value. If the Shares are traded in a public market, the fair market value of the Shares shall be the closing price of
the Shares reported for the business day immediately before Holder delivers its Notice of Exercise to the Company. If the Shares are not traded in a public market, the Board of Directors of the Company shall determine fair market value in its
reasonable good faith judgment. The foregoing notwithstanding, if Holder advises the Board of Directors in writing that Holder disagrees with such determination, then the Company and Holder shall promptly agree upon a reputable investment banking
firm to undertake such valuation. If the Company and Holder are unable to agree on such investment banking firm, then each party shall choose one reputable investment banking firm and the two firms so chosen shall choose a third investment banking
firm, which third firm shall conduct the valuation. If the valuation of such investment banking firm is more than five percent (5%) greater than that determined by the Board of Directors, then all fees and expenses of such investment banking
firm shall be paid by the Company. In all other circumstances, such fees and expenses shall be paid by Holder. 
 1.7 Delivery of
Certificate and New Warrant. Promptly after Holder exercises or converts this Warrant, the Company shall deliver to Holder certificates for the Shares acquired and, if this Warrant has not been fully exercised or converted and has not expired, a
new Warrant representing the Shares not so acquired shall be delivered to Holder. 

  
 -2- 

 1.8 Replacement of Warrants. On receipt of an affidavit of an officer of the Holder of the
loss, theft, destruction or mutilation of this Warrant and, in the case of loss, theft or destruction, on delivery of an indemnity agreement reasonably satisfactory in form and amount to the Company or, in the case of mutilation, on surrender and
cancellation of this Warrant, the Company at its expense shall execute and deliver, in lieu of this Warrant, a new warrant of like tenor. 

1.9 Acquisition of the Company. Upon the closing of any Acquisition the successor entity shall assume the obligations of this Warrant,
and this Warrant shall be exercisable for the same securities, cash, and property as would be payable for the Shares issuable upon exercise of the unexercised portion of this Warrant as if such Shares were outstanding on the record date for the
Acquisition and subsequent closing. The Warrant Price shall be adjusted accordingly. As used herein, “Acquisition” means any sale, license, or other disposition of all or substantially all of the assets of the Company, or any
reorganization, consolidation, or merger of the Company in which the holders of the Company’s voting securities before the transaction (for such purpose treating all outstanding options and warrants to purchase voting securities of the Company
as having been exercised and treating all outstanding debt and equity securities convertible into voting securities of the Company as having been converted) beneficially own less than 50% of the outstanding voting securities of the surviving entity
after the transaction. 
 1.10 Automatic Exercise Prior to Expiration. To the extent this Warrant is not previously exercised as to
all of the Shares subject hereto, and if the fair market value of one Share is greater than the Warrant Price then in effect, this Warrant shall be deemed automatically exercised pursuant to Section 1.3 above (even if not surrendered)
immediately before its expiration date as set forth in this Warrant. For purposes of such automatic exercise, the fair market value of one Share upon such expiration shall be determined pursuant to Section 1.6 above. To the extent this Warrant
or any portion thereof is deemed automatically exercised pursuant to this Section, the Company agrees to promptly notify the holder hereof of the number of Shares, if any, the holder hereof is to receive by reason of such automatic exercise. 

ARTICLE 2. ADJUSTMENTS TO THE SHARES. 

2.1 Stock Dividends, Splits, Etc. If the Company declares or pays a dividend on its common stock (“Common Stock”) payable in
Common Stock or other securities, or subdivides the outstanding Common Stock into a greater amount of Common Stock, then upon exercise of this Warrant, for each Share acquired, Holder shall receive, without cost to Holder, the total number and kind
of securities to which Holder would have been entitled had Holder owned the Shares of record as of the date the dividend or subdivision occurred. 

2.2 Reclassification, Exchange or Substitution. Upon any reclassification, exchange, substitution, or other event that results in a
change of the number and/or class of the securities issuable upon exercise or conversion of this Warrant, Holder shall be entitled to receive, upon exercise or conversion of this Warrant, the number and kind of securities and property that Holder
would have received for the Shares if this Warrant had been exercised immediately 

  
 -3- 

 
before such reclassification, exchange, substitution, or other event. After the occurrence of such an event, the Company or its successor shall promptly issue to Holder a new Warrant for such new
securities or other property. The new Warrant shall provide for adjustments which shall be as nearly equivalent as may be practicable to the adjustments provided for in this Article 2 including, without limitation, adjustments to the Warrant Price
and to the number of securities or property issuable upon exercise of the new Warrant. The provisions of this Section 2.2 shall similarly apply to successive reclassifications, exchanges, substitutions, or other events. 

2.3 Adjustments for Combinations, Etc. If the outstanding Shares are combined or consolidated, by reclassification or otherwise, into a
lesser number of shares, the Warrant Price shall be proportionately increased. 
 2.4 [intentionally omitted] 

2.5 No Impairment. The Company shall not, by amendment of its Articles or Certificate of Incorporation or through a reorganization,
transfer of assets, consolidation, merger, dissolution, issue, or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be observed or performed under this Warrant by the
Company, but shall at all times in good faith assist in carrying out of all the provisions of this Article 2 and in taking all such action as may be necessary or appropriate to protect Holder’s rights under this Article against impairment. 

2.6 Fractional Shares. No fractional Shares shall be issuable upon exercise or conversion of the Warrant and the number of Shares to be
issued shall be rounded down to the nearest whole Share. If a fractional share interest arises upon any exercise or conversion of the Warrant, the Company shall eliminate such fractional share interest by paying Holder a cash amount computed by
multiplying the fractional interest by the fair market value of a full Share. 
 2.7 Certificate as to Adjustments; Other
Adjustments. Upon each adjustment of the Warrant Price, the Company at its expense shall promptly compute such adjustment, and furnish Holder with a certificate of its Chief Financial Officer setting forth such adjustment and the facts upon
which such adjustment is based. The Company shall, upon written request, furnish Holder a certificate setting forth the Warrant Price in effect upon the date thereof and the series of adjustments leading to such Warrant Price. If any change in the
outstanding securities of the Company or any other event occurs, as to which the other provisions of this Article 2 are not strictly applicable, or if strictly applicable would not fairly protect the purchase rights of the Holder in accordance with
such provisions, then the Board of Directors of the Company shall make an adjustment in the number and class of shares subject to this Warrant, the Warrant Price or the application of such provisions, so as to protect such purchase rights as
aforesaid and to give the Holder, upon exercise for the same aggregate Warrant Price, the total number, class and kind of securities as it would have owned had the Warrant been exercised prior to the event and had it continued to hold such
securities until after the event requiring the adjustment. 

  
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 ARTICLE 3. REPRESENTATIONS AND COVENANTS OF THE COMPANY. 

3.1 Representations and Warranties. The Company hereby represents and warrants to the Holder as follows: 

(a) The initial Warrant Price hereunder is equal to the exercise price of the Company’s most recently granted options to purchase its
Common Stock, which were options to purchase a total of 547,500 shares of Common Stock conditionally granted on January 24, 2007. 

(b) All Shares which may be issued upon the exercise of the purchase right represented by this Warrant, and all securities, if any, issuable
upon conversion of the Shares, shall, upon issuance, be duly authorized, validly issued, fully paid and nonassessable, and free of any liens and encumbrances except for restrictions on transfer provided for herein or under applicable federal and
state securities laws. The Company shall, at all times, reserve a sufficient number of Shares and of shares of Common Stock for issuance upon Holder’s exercise of its rights hereunder. 

(c) The Capitalization Table attached hereto as Exhibit A is true and complete as of the Issue Date. 

3.2 Notice of Certain Events. If the Company proposes at any time (a) to declare any dividend or distribution upon its Common
Stock, whether in cash, property, stock, or other securities and whether or not a regular cash dividend; (b) to offer for subscription pro rata to the holders of Common Stock any additional shares of stock of any class or series or other
rights; (c) to effect any reclassification or recapitalization of Common Stock; (d) to merge or consolidate with or into any other corporation, or sell, lease, license, or convey all or substantially all of its assets, or to liquidate,
dissolve or wind up; or (e) offer holders of registration rights the opportunity to participate in an underwritten public offering of the company’s securities for cash, then, in connection with each such event, the Company shall give
Holder (1) at least 30 days prior written notice of the date on which a record will be taken for such dividend, distribution, or subscription rights (and specifying the date on which the holders of Common Stock will be entitled thereto) or for
determining rights to vote, if any, in respect of the matters referred to in (a) and (b) above; (2) in the case of the matters referred to in (c) and (d) above at least 30 days prior written notice of the date when the same
will take place (and specifying the date on which the holders of Common Stock will be entitled to exchange their Common Stock for securities or other property deliverable upon the occurrence of such event); and (3) in the case of the matter
referred to in (e) above, the same notice as is given to the holders of such registration rights. 
 3.3 Information Rights. So
long as the Holder holds this Warrant or at least 10% of the Shares initially subject to this Warrant, but prior to an initial public offering of the Company’s Common Stock, the Company shall deliver to the Holder (a) promptly after
mailing, copies of all notices or other written communications to the shareholders of the Company, (b) annual financial statements, audited by independent certified public accountants, and certified by an Officer of the Company, within 180 days
after the end of each fiscal year of the Company, (c) a Company-prepared quarterly financial statement of the Company, within forty-five (45) days after the end of each fiscal quarter of the Company, and (d) a Company-prepared monthly
financial statement of the Company, within thirty (30) days after the end of each month. 
 3.4 Registration Under Securities Act of
1933, as amended. The Company agrees that, with respect to the Shares, Holder shall have the same registration rights as are set forth in Sections 2.3 and 2.4 of the Second Amended & Restated Investor Rights Agreement dated-as of
October 7, 2005 (as amended by the First Amendment thereto dated October 25, 2006, and as the 

  
 -5- 

 
same may be amended in good faith from time to time hereafter) (the “Investor Rights Agreement”), provided that (i) such registration rights shall be junior to the registration
rights which the “Holders” (as defined in the Investor Rights Agreement) have under the Investor Rights Agreement (it being understood that the Holder shall not be entitled to initiate a registration pursuant to Section 2.4 of the
Investor Rights Agreement), and (ii) if, hereafter, James Preuninger, John Preuninger, or any other present or future executive officer of the Company is given any greater registration rights with respect to Common Stock (other than Shares of
Common Stock which are “Registrable Securities” under the Investor Rights Agreement), Holder shall be given the same such registration rights. 

ARTICLE 4. REPRESENTATIONS, WARRANTIES OF THE HOLDER. The Holder represents and warrants to the Company as follows: 

4.1 Purchase for Own Account. Except for transfers to Holder’s affiliates, this Warrant and the securities to be acquired upon
exercise of this Warrant by the Holder will be acquired for investment for the Holder’s account, not as a nominee or agent, and not with a view to the public resale or distribution within the meaning of the Securities Act of 1933, as amended
(the “1933 Act”), and the Holder has no present intention of selling, granting any participation in, or otherwise distributing the same. The Holder also represents that the Holder has not been formed for the specific purpose of acquiring
this Warrant or the Shares. 
 4.2 Disclosure of Information. The Holder has received or has had full access to all the information
it considers necessary or appropriate to make an informed investment decision with respect to the acquisition of this Warrant and its underlying securities. The Holder further has had an opportunity to ask questions and receive answers from the
Company regarding the terms and conditions of the offering of this Warrant and its underlying securities and to obtain additional information (to the extent the Company possessed such information or could acquire it without unreasonable effort or
expense) necessary to verify any information furnished to the Holder or to which the Holder has access. 
 4.3 Investment Experience.
The Holder: (i) has experience as an investor in securities and acknowledges that the Holder is able to fend for itself, can bear the economic risk of the Holder’s investment in this Warrant and its underlying securities and has such
knowledge and experience in financial or business matters that the Holder is capable of evaluating the merits and risks of its investment in this Warrant and its underlying securities and/or (ii) has a preexisting personal or business
relationship with the Company and certain of its officers, directors or controlling persons of a nature and duration that enables the Holder to be aware of the character, business acumen and financial circumstances of such persons. 

4.4 Accredited Investor Status. The Holder is an “accredited investor” within the meaning of Regulation D promulgated under
the 1933 Act. 
 4.5 Private Issue. The Holder understands (i) that the Shares are not registered under the 1933 Act, or
qualified under applicable state securities laws on the ground that the issuance contemplated by this Warrant will be exempt from the registration and qualifications requirements thereof, and (ii) that the Company’s reliance on such
exemption is predicated on the representations set forth in this Section 4. 

  
 -6- 

 4.6 Risk of No Registration. The Holder understands that if the Company does not register
with the Securities and Exchange Commission pursuant to Section 12 of the Securities Exchange Act of 1934, as amended (the “1934 Act”), or file reports pursuant to Section 15(d) of the 1934 Act, or if a registration statement
covering the securities under the 1933 Act is not in effect when it desires to sell (i) the rights to purchase Shares pursuant to this Warrant, or (ii) the Shares, it may be required to hold such securities for an indefinite period. 

ARTICLE 5. MISCELLANEOUS. 
 5.1
Term. This Warrant is exercisable, in whole or in part, at any time and from time to time on or before the Expiration Date set forth above. 

5.2 Legends. This Warrant and the Shares shall be imprinted with a legend in substantially the following form: 

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, PLEDGED OR OTHERWISE TRANSFERRED
WITHOUT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT OR AS PERMITTED UNDER APPLICABLE LAW. 
 5.3 Compliance with Securities Laws on
Transfer. This Warrant and the Shares issuable upon exercise of this Warrant may not be transferred or assigned in whole or in part without compliance with applicable federal and state securities laws by the transferor and the transferee.

 5.4 Transfer Procedure. Subject to the provisions of Section 5.2, Holder may transfer all or part of this Warrant or the
Shares issuable upon exercise of this Warrant by giving the Company notice of the portion of the Warrant being transferred setting forth the name, address and taxpayer identification number of the transferee and surrendering this Warrant to the
Company for reissuance to the transferee(s) (and Holder if applicable). Notwithstanding the foregoing, the Holder will not voluntarily and knowingly assign or transfer this Warrant or the Shares to any competitor of the Company without the
Company’s prior written consent, except that this sentence shall not apply to a sale or assignment of this Warrant or the Shares (i) after an initial public offering of the equity securities of the Company, or (ii) in connection with
a sale of Common Stock to such competitor by other holders of such Common Stock, which sale involves at least 10% of the Common Stock then outstanding, or (iii) in connection with an Acquisition. 

5.5 Notices. All notices and other communications from the Company to the Holder, or vice versa, shall be deemed delivered and
effective when given personally or mailed by first-class registered or certified mail, postage prepaid, to such address as may have been furnished to the Company or the Holder, as the case may be, in writing by the Company or the Holder from time to
time. 
 5.6 Waiver; Amendment. This Warrant and any term hereof may be changed, waived, discharged or terminated only by an
instrument in writing signed by the party against which enforcement of such change, waiver, discharge or termination is sought. 

  
 -7- 

 5.7 Issue Tax. The issuance of the securities subject to this Warrant shall be made
without charge to the Holder for any issue tax (other than applicable income taxes) in respect thereof. 
 5.8 Attorneys Fees. In the
event of any dispute between the parties concerning the terms and provisions of this Warrant, the party prevailing in such dispute shall be entitled to collect from the other party all costs reasonably incurred in such dispute, including reasonable
attorneys’ fees. 
 5.9 Governing Law. This Warrant and all acts, transactions, disputes and controversies arising hereunder or
relating hereto, and all rights and obligations of Holder and Company hereunder shall be governed by, and construed in accordance with the internal laws (and not the conflict of laws rules) of the State of New Jersey. 

[signatures on next page] 

  
 -8- 

 
			
	Company:
	
	Management Dynamics Inc.
		
	By	 	 /s/ James W. Preuninger

	Title	 	 CEO

  

			
	Holder:
	
	ORIX Venture Finance LLC
		
	By	 	 /s/ Kevin P. Sheehan

		 	Kevin P. Sheehan,
		 	President and CEO

 Warrant to Purchase Stock-Signature Page 

 APPENDIX 1 

NOTICE OF EXERCISE 
 1.
The undersigned hereby elects to purchase                  shares of the Common Stock of Management Dynamics Inc. pursuant to the terms of the attached Warrant, and
tenders herewith payment of the purchase price of such shares in full. 
 1. The undersigned hereby elects to convert the attached Warrant
into Shares in the manner specified in the Warrant. This conversion is exercised with respect to                  of the Shares covered by the Warrant. 

[Strike paragraph that does not apply.] 

2. Please issue a certificate or certificates representing said shares in the name of the undersigned or in such other name as is specified
below: 
  
  

 
  

 
  

3. In exercising its rights to purchase the Shares, the undersigned hereby confirms and acknowledges the representations and warranties made
in Section 4 of the Warrant. 
  

	
	(Signature)
	
	  

	Date

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