Document:

Exhibit 10.1

 

Exhibit 10.1 – Separation
Agreement and Release dated July 11, 2005, between VantageMed Corporation and
Ernie Chastain.

 

SEPARATION
AGREEMENT AND RELEASE

 

This
SEPARATION AGREEMENT AND RELEASE (this “Agreement”) is entered into as
of July 11, 2005 (the “Effective Date”) by and between, VantageMed Corporation,
a Delaware corporation (the “Company”), and R. Ernest Chastain (“Chastain”).

 

RECITALS

 

A. Chastain
and the Company are parties to an Offer of Employment, dated July 21, 2003 (the
“Employment Agreement”), pursuant to which
Chastain was employed by the Company as its Vice President of Sales.

 

B. Effective
July 11, 2005, Mr. Chastain voluntarily resigned as Vice President of Sales of
the Company.

 

C.
It is the Company’s decision to provide Chastain with certain severance
benefits (as described herein) that Chastain would not otherwise be entitled to
receive upon the termination of his employment with the Company.

 

NOW
THEREFORE, in consideration of the promises and the covenants and agreements of
the parties herein contained, and intending to be legally bound hereby, the
parties hereby agree as follows:

 

AGREEMENT

 

1. Termination
of Employment.  Chastain has tendered
his resignation as the Company’s Vice President of Sales, effective July 11, 2005
(the “Resignation Date”), which is documented by a letter in the form attached
hereto as Exhibit A. The Company has accepted this resignation and, in response
to any inquiries, the Company and Chastain will assert that Chastain resigned
voluntarily as part of a planned staff downsizing.

 

2. Severance
Benefits.

 

In
exchange for the release of claims set forth in paragraph 5 and 6, and subject
to the effectiveness of this Section 3 as set forth in paragraph 5 and 6
hereof, Chastain shall receive the following severance benefits:

 

a)             a severance payment equal to Chastain’s current salary, less
applicable withholding, for the period July 12, 2005 through July 31, 2005.

 

b)            An
additional 40,625 of stock options shall vest on the Effective Date and the
period of exercise shall be 90 days after the Effective Date.

 

c)             if Chastain is covered by the Company’s group health plan
and he timely elects to continue such coverage pursuant to applicable law
(COBRA), the Company shall reimburse Chastain for payment of the COBRA premiums
for up to a period of 90 days after the Effective Date. Provided, however, that
from and after the first date that Chastain first commences other employment or
provides services as a consultant of other self-employed individual, the Company,
at its option, may eliminate or otherwise reduce payment of such COBRA premiums
to the extent Chastain receives health benefits from such other employment or
self-employment.

 

3. Miscellaneous
Benefits.

 

(a) On the Resignation
Date, the Company shall pay Chastain all wages, earned bonuses and unused but
accrued vacation earned through that date. 
Such payments shall be subject to applicable withholding.  In addition, the Company shall reimburse
Chastain for all of his reimbursable business expenses incurred through the
Resignation Date in accordance with the Company’s business expense
reimbursement policy.  Chastain
understands and acknowledges that he shall be

 

 

entitled to no
compensation or benefits from the Company other than those expressly set forth
in this Agreement.

 

(b)  The Company shall
sell to Chastain his Company-issued laptop computer for an agreed to amount of
$500. However, Chastain’s continuing obligation to protect the confidential and
proprietary information of the Company will require that he ship the
Company-issued laptop computer to the attention of Justin Monnig, the Company’s
Director of IT, to remove Company confidential and proprietary information.

 

4.
Return of Company Property. 
Except for the property retained by Chastain under Section 3(b) above,
on the Resignation Date Chastain shall return to the Company any and all
Company property then in his possession.

 

5. Mutual
General Release.

 

(a) In
exchange for the mutual promises made herein and the benefits described in this
Agreement, Chastain, on behalf of himself and his estate, heirs, executors and
personal representatives, and the Company, on behalf of itself and its
predecessors, successors, assigns, agents and, in each case, all persons acting
by, through, under or in concert with any of them, hereby release and discharge
fully, finally and forever one another and their respective estate, heirs,
executors, personal representatives, employees, officers, directors,
stockholders, predecessors, successors, assigns, agents, attorneys and
accountants, and all persons acting by, through, under or in concert with any
of them (individually and collectively, the “Released Parties”) from all
claims, demands, obligations, losses, causes of action, in law or in equity,
costs, expenses, suits, debts, liens, promises, damages, attorneys’ fees and
liabilities of any nature whatsoever, known or unknown, fixed or contingent,
whether based upon contract, tort or statute which they now have or may
hereafter have against the Released Parties by reason of any and all acts,
omissions, events or facts occurring or existing prior to the Effective Date
including, but not limited to, the following: any alleged breach of the
Employment Agreement, or any other agreement or policy to which the Company is
a party; any alleged breach of any covenant of good faith and fair dealing,
express or implied; any alleged torts or other alleged legal restrictions
relating to Chastain’s employment and the termination thereof; and any alleged
violation of any federal, state or local statute or ordinance, including,
without limitation, Title VII of the Civil Rights Act of 1964, as amended; the
Equal Pay Act, as amended; the Age Discrimination in Employment Act, as
amended; the Americans With Disabilities Act, as amended; the Employee
Retirement Income Security Act, as amended; the Older Workers Benefit
Protection Act of 1990; the California Fair Employment and Housing Act, as
amended; the California Labor Code, as amended; and/or any other local, state,
or federal law governing discrimination in employment and/or the payment of
wages and benefits, or any matters arising out of, or relating to, Chastain’s
employment relationship with the Company (collectively, the “Released
Matters”). Notwithstanding the foregoing, (a) the Released Matters shall
not include, and nothing herein shall affect, any claim arising from or
relating to any breach by a Released Party of the terms of this Agreement and
(b) nothing in this Agreement shall release the Company from any of its
indemnification obligations to Chastain pursuant to contract, the Company’s
by-laws, or statutory or common law.

 

(b) The
parties agree that they shall not in any way on their own behalf or for any
other person or entity, cause, support or assist in the instigation, maintenance
or pursuit of any action of any nature which has been, might have been or might
be asserted by any person or entity against the Released Parties in connection
with the Released Matters. This paragraph 5(b) may be pleaded as a complete
defense to, and may be used as an injunction against bringing, any claims
released hereunder.

 

(c) This
Agreement is intended to cover all claims or possible claims arising out of or
relating to the Released Matters, whether the same are known, unknown or
hereafter discovered or ascertained. THE PARTIES HEREIN ACKNOWLEDGE THAT THEY
HAVE BEEN ADVISED OF AND ARE FAMILIAR WITH THE PROVISIONS OF CALIFORNIA CIVIL
CODE SECTION 1542, WHICH PROVIDES AS FOLLOWS:

 

“A
GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR
SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF
KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR.”

 

 

BEING
AWARE OF SAID CODE SECTION, THE PARTIES HEREBY EXPRESSLY WAIVE ANY RIGHTS THEY
MAY HAVE THEREUNDER, AS WELL AS UNDER ANY OTHER STATUTES OR COMMON LAW
PRINCIPLES OF SIMILAR EFFECT.

 

6. Acknowledgment
of Waiver of Claims under ADEA. Chastain acknowledges that he is waiving
and releasing any rights he may have under the Age Discrimination in Employment
Act of 1967 (“ADEA”) and that the waiver and release is knowing and
voluntary. Chastain and the Company agree that the waiver and release does not
apply to any rights or claims that may arise under the ADEA after the Effective
Date. Chastain acknowledges that the consideration given for this waiver and
release is in addition to anything of value to which Chastain was already
entitled. Chastain further acknowledges that he has been advised by the Company
in writing that (a) he should consult with an attorney prior to
executing this Agreement; (b) he has 21 days within which to consider
paragraph 5 of this Agreement; (c) he has seven days following his
execution of this Agreement to revoke paragraph 5 of this Agreement (the “Revocation
Period”); and (d) paragraphs 3 and 5 of this Agreement shall not be
effective until the Revocation Period has expired and Chastain has not revoked
those sections during the Revocation Period.  Chastain acknowledges and agrees that all
other provisions of this Agreement shall remain in full force and effect
notwithstanding any subsequent revocation of paragraph 5 by Chastain.

 

7.
Confidential and Proprietary Information; Covenant Not to Compete;
Non-Solicitation of Employees. 
Chastain shall execute the Company’s standard form of proprietary
information and inventions agreement as required by the Employment Agreement as
of the date he first joined the Company. 
Chastain acknowledges that he shall remain bound by the provisions of
such agreement until such time as he is no longer receiving Severance Benefits
from the Company.  Chastain acknowledges
that he is obligated to protect the confidential and proprietary information of
the Company.

 

8. Indemnification;
Representation. The Company confirms that Chastain shall continue to be
entitled to indemnification pursuant to and upon the terms and conditions of
the Company’s bylaws and the Indemnity Agreement (the “Indemnity Agreement”)
by and between the Company and Chastain for actions, suits and proceedings by
reason of the fact that he was an employee and officer of the Company upon the
terms and subject to the conditions set forth therein.

 

9. Severability.
The provisions of this Agreement are severable. If any provision is held to be
invalid or unenforceable, it shall not affect the validity or the
enforceability of any other provision.

 

10. Right
To Advice of Counsel. Chastain acknowledges that
he has the right, and is encouraged, to consult with his lawyer; by his
signature below Chastain acknowledges that he has consulted with his lawyer
concerning this Agreement.

 

11. Non-Disparagement.
Chastain and the Company agree to refrain from any disparagement, criticism,
defamation, slander, or tortious interference with the contracts and
relationships of one another. The Company further agrees to use its best
efforts to cause its officers, directors and principal stockholders to refrain
from any disparagement, criticism, defamation, slander, or tortious
interference with the contracts and relationships of Chastain.

 

12.
Voluntary Agreement. Chastain represents that he has thoroughly read and
considered all aspects of this Agreement, that he understands all of its
provisions, and that he is voluntarily entering into this Agreement.

 

13. Entire
Agreement. This Agreement, the agreements referenced herein (as may be
modified hereby), the Company’s
stock option plans and option agreements with Chastain, and any confidentiality
or proprietary rights agreement between Chastain and the Company, together with
all of the exhibits hereto and thereto, set forth the entire agreement between
Chastain and the Company and supersede any and all prior oral or written
agreements or understandings between Chastain and the Company concerning the
subject matter hereof and thereof.

 

14. Amendment.
This Agreement may not be altered, amended or modified except by a further
written document signed by Chastain and an authorized representative of the
Company.

 

15. Further
Assurances. The parties agree to execute and deliver such further
documents, certificates or agreements, and to perform such further actions as
may be reasonably necessary to carry out the terms of this Agreement.

 

 

16. Remedies.
The parties agree that money damages would not be a sufficient remedy for any
breach or threatened breach of this Agreement by any party and that the
non-breaching party shall be entitled to equitable relief, including injunction
and specific performance, as a remedy for such breach or threatened breach.
Such remedies shall not be deemed to be the exclusive remedies for a breach of
this Agreement but shall be in addition to all other remedies available at law
or equity.

 

17. Counterparts.
This Agreement may be executed in two or more counterparts, which, when taken
together, shall constitute the whole of the agreement between the parties
hereto.

 

18. Governing
Law. This Agreement shall be construed in accordance with the laws of the
State of California, without regard to conflicts of law principles of such
state.

 

19. Legal
Expenses. The prevailing party in any legal action brought by one party
against the other and arising out of this Agreement shall be entitled, in
addition to any other rights and remedies that such prevailing party may have,
to reimbursement for expenses incurred by such prevailing party, including
court costs and reasonable attorneys’ fees.

 

20. Arbitration.
Should any dispute arise relating to the meaning, interpretation or application
of this Agreement, such dispute shall be settled in Sacramento County,
California, in accordance with the applicable rules of the America Arbitration
Association for settling employment and commercial disputes.

 

IN
WITNESS WHEREOF, the parties execute this Separation Agreement and Release as
of the dates written below.

 

DATE:
7/12/2005

 

	
   

  	
  VANTAGEMED
  CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Philip D. Ranger

  	
   

  
	
   

  	
   

  	
  Philip
  D. Ranger

  
	
   

  	
   

  	
  Chief
  Financial Officer

  
	
  DATE:
  7/12/2005

  	
   

  	
   

  
	
   

  	
   

  	
  /s/
  R. Ernest Chastain

  	
   

  
	
   

  	
   

  	
  R.
  Ernest Chastain, an individualExhibit 10.1

 

AGREEMENT

 

THIS AGREEMENT (the “Agreement”)
dated as of July 14, 2005 between Jeffrey C. Taylor (“Executive”) and
Monster Worldwide, Inc., a Delaware corporation formerly known as TMP
Worldwide Inc. (the “Company”).

 

The purpose of this Agreement
is to set forth the terms and conditions under which Executive and the Company
will terminate their employment relationship.

 

In consideration of the
mutual promises of the parties made below, the parties agree as follows:

 

1.                                       Separation;
Employment Through Effective Date.

 

(a)                                  Executive’s
separation from the Company and each of its Affiliates (as defined below) is
effective at 5:00 p.m. on August 1, 2005 (the “Effective Date”) and
as of such date and time Executive hereby resigns each and every position as
employee, officer and/or director of the Company and each of its Affiliates,
including without limitation as Founder and Chief Monster.

 

(b)                                 Until
the Effective Date, Executive shall serve as Chief Monster of Monster, Inc.
(formerly known as TMP Interactive Inc.) on the terms and conditions set forth
herein. Executive’s duties and responsibilities shall consist solely of those
of an executive nature that may be reasonably requested of Executive from time
to time by the Company’s Chief Executive Officer (the “CEO”) or such other
person from time to time designated by the CEO to deal with matters relating to
this agreement (the “Designee”). It is understood that no commitment is made as
to the amount or level of Executive’s duties and responsibilities, and that
Executive’s obligations shall arise, if at all, only if, as and when requested
by the CEO or the Designee and that any such services may be performed from any
location (including Executive’s home) as reasonably directed by the CEO or the
Designee. Executive agrees to perform any duties and responsibilities assigned
to Executive to the best of Executive’s ability, in a diligent, trustworthy,
businesslike and efficient manner for the purpose of advancing the business of
the Company and its Affiliates, and to adhere to any and all of the employment
policies of the Company and its Affiliates. Executive agrees not to take any
actions for or on behalf of the Company or any of its Affiliates, nor bind the
Company or any of its Affiliates, in any way, except with the prior written
consent of the CEO or the Designee.

 

2.                                       Payments.  The Company and Executive agree that the
following payments shall be or have been made and benefits shall be or have
been provided to Executive by the Company:

 

(a)                                  Regular
payroll checks through August 1, 2005 and, subject to clauses (b) and
(c) below, all employee benefits regularly provided which have accrued
through such date; and

 

 

(b)                                 On
or before March 22, 2006, to provide Executive payment, if any, of 7/12ths
of the performance bonus that would have been payable to Executive had he
remained in the employment of the Company or one of its Affiliates through December 31,
2005, subject to each and every the term and condition set by the Compensation
Committee of the Board of Directors (the “Compensation Committee”) on March 29,
2005 (the “Bonus Terms”) except only for the condition of Executive’s required
employment through December 31, 2005; it is understood that the Bonus
Terms include, but are not limited to, any bonuses being subject to the Company’s
attainment of certain specified EPS Goals (as defined by the Compensation
Committee), the provisions of Section 8(c) of the Company’s 1999 Long
Term Incentive Plan, as heretofore amended (including but not limited to the
right of the Compensation Committee to reduce the amounts that would be payable
pursuant to a performance based award), limitations on maximum cash amounts
that would be payable to individuals and provisions providing for payment of
certain bonus amounts in fully vested shares of Company Common Stock; and

 

(c)                                  Payment
for all unreimbursed travel, entertainment and other expenses which have been
incurred in accordance with Company policy on or prior to August 1, 2005,
which payment shall be made promptly after presentation of appropriate receipts
and invoices therefor, provided that Executive provides all such requests for
reimbursement, receipts and invoices prior to November 30, 2005.

 

In addition, (a) the
unvested and unexercisable options covered by the option agreements between
Executive and the Company dated July 30, 1999 (two agreements), February 9,
2004, and December 28, 2004 (collectively, the “Specified Option
Agreements”) shall as of the Effective Date automatically and immediately
become both vested and exercisable, and (b) all remaining options covered
by the Specified Option Agreements, including but not limited to those whose
vesting and exercisability is accelerated in accordance with clause (a) above,
shall as of the Effective Date automatically and immediately become exercisable
for the balance of the ten year term provided by the applicable Specified
Option Agreement, in the case of (a) and (b) subject to the other
terms of the applicable Specified Option Agreement. Any and all payments and
benefits described in this Paragraph 2 shall be reduced by applicable
withholding taxes, normal payroll deductions and amounts required by law to be
withheld.

 

3.                                       Additional
Consideration. If and only if Executive (i) executes and delivers the
Second Release (as defined below) in accordance with the provisions of
Paragraph 5(a) below, and (ii) the revocation periods applicable to
this Agreement and the Second Release which are described in Paragraph 6 below
have each expired without Executive having exercised any right of revocation
described therein (the satisfaction of the foregoing conditions (i) and (ii) is
sometimes referred to as the satisfaction of the “Precondition”), and in
consideration of and subject to Executive’s compliance with Executive’s
agreements under this Agreement (including but not limited to the provisions of
Section 4 and the provisions of the Second Release), the Company agrees
to:

 

2

 

(a)                                  pay
Executive an aggregate of $500,000 in bi-weekly installments of approximately
$12,820.51 each (pro-rated for periods of less than a full bi-weekly period),
without interest, with the first installment payable on the date which is two
weeks after the date of the satisfaction of the Precondition, reduced by the
gross amounts of any payroll payments paid to Executive for the period from and
after August 1, 2005;

 

(b)                                 through
January 31, 2007 to make available to Executive (and/or pay COBRA premiums
on) basic medical and dental benefits for Executive and his family on the same
terms and conditions (including but not limited to employee contribution terms)
as would have been available to Executive had Executive remained employed by
the Company or one of its Affiliates during such period;

 

Any and all
consideration described in this Paragraph 3 shall constitute consideration
for Executive’s execution and delivery of this Agreement and the Second Release
and such consideration shall be reduced by applicable withholding taxes,
payroll deductions and amounts required by law to be withheld.  Executive acknowledges that the consideration
described in this Paragraph 3 constitutes consideration to which Executive was
not previously entitled in the absence of this Agreement and the Second
Release, whether by policy, written agreement or otherwise.

 

4.                                       General
Release.  In consideration of the
obligations of the Company in Paragraph 3 above and as a material
inducement to the Company to enter into this Agreement, Executive, on behalf of
Executive, Executive’s heirs, estate, executors, administrators, successors and
assigns, does hereby irrevocably and unconditionally release, acquit and
forever discharge each of the Releasees (as defined below) from any and all
actions, causes of action, suits, debts, administrative or agency charges,
dues, sums of money, claims, complaints, liabilities, obligations, agreements,
promises, damages, demands, judgments, costs, losses, expenses and legal fees
and expenses of any nature whatsoever, known or unknown, suspected or
unsuspected, which Executive or Executive’s heirs, estate, executors,
administrators, successors and assigns ever had, now have or hereafter can,
shall or may have against each or any of the Releasees by reason of any matter,
cause or thing whatsoever from the beginning of the world to the date of this
Agreement, including but not limited to any and all rights and claims
under federal, state or local laws, regulations or requirements, the Age
Discrimination in Employment Act, the Americans with Disabilities Act, Title
VII of the Civil Rights Act, the Family and Medical Leave Act, the Workers
Adjustment and Notification Act, the laws of the Commonwealth of Massachusetts
and all localities therein and all rights and claims relating to defamation,
discrimination (on the basis of sex, race, color, national origin, religion,
age, disability or otherwise), workers’ compensation, fraud, misrepresentation,
breach of contract, intentional or negligent infliction of emotional distress,
breach of any covenant of good faith and fair dealing, negligence, wrongful
termination, wrongful employment practices or any and all other claims relating
to Executive’s employment with, or separation of employment from, the Company
or any of its Affiliates, any and all other rights and claims arising under any
federal, state or local law, statute, regulation or case law, any and all
rights and claims under the Second Amended and Restated Employment Agreement
dated as of November 2, 1999, as amended by Amendment No. 1 to
Employment Agreement dated October 31, 2001, among the Company,

 

3

 

Monster, Inc.
and Executive (collectively, the “Employment Agreement”), any prior employment
agreement (including but not limited to the Employment Agreement dated as of November 10,
1995), any offer letters and, except as provided in the next paragraph, any and
all rights and claims to options or other equity interests in the Company or
any of its Affiliates.

 

As used in this Agreement, the term “Releasees” is a collective reference
to the Company, Monster, Inc., Adion, Inc., Adion Information
Services, Inc., and HGI Acquisition Corp., and each of their respective
present, former and future stockholders, subsidiaries, Affiliates, successors,
assigns and employee benefit plans, and each of their respective directors,
officers, employees, trustees, representatives, insurers and agents, each in
their official and individual capacities. 
As used in this Agreement, the term “Affiliates” is a reference to all
affiliates within the meaning of Rule 405 under the Securities Act of
1933, as amended. Notwithstanding anything in this Paragraph 3 to the
contrary, nothing in this Paragraph 3 shall be deemed to be a release of (i) Executive’s
vested rights, if any, under the Company’s 401(k) plan, (ii) Executive’s
rights under this Agreement and under the Consulting Agreement dated as of the
date hereof (the “Consulting Agreement”), (iii) Executive’s rights under
the Specified Option Agreements, each as modified in accordance with Paragraph
2 hereof, (iv) Executive’s rights under the Indemnity Agreement between
Executive and the Company dated as of September 16, 1996 and any rights to
indemnification under any applicable law, the Company’s certificate of
incorporation and bylaws and any rights to coverage under any directors’ and
officers’ liability policies, and (v) Executive’s rights to shares of
Company common stock acquired at any time (a) upon exercise of options
under the Specified Option Agreements or the option agreements dated January 3,
1996, January 6, 1997 (two agreements), December 12, 1997, or December 9,
1998 (the foregoing option agreements other than the Specified Option
Agreements are sometimes referred to herein as the “Other Option Agreements”), (b) in
the open market or (c) under the Company’s 401(k) plan.

 

5.        Second Release; Records, Documents
and Property.

 

(a)                                  During
the period commencing Monday, August 1, 2005 and ending at 5:00 p.m.
on Monday, August 15, 2005 (the “Specified Period”), and provided that
this Agreement has not theretofore been terminated in accordance with Paragraph
12 below, Executive may choose to properly execute, date and deliver to the
Company no less than two originals of a general release in exactly the form of Schedule 1
hereto (the “Second Release”), it being understood that the date reflected
thereon must be a date within the Specified Period. Delivery must be made to
the attention of either Andrew J. McKelvey or Myron Olesnyckyj at Monster
Worldwide, Inc., 622 Third Avenue, 39th Floor, New York, NY
10017.

 

(b)                                 On
or before the Effective Date but subject to the remaining provisions of this
Paragraph 5(b), (i) Executive will return to the Company all of the
records, correspondence, electronic and magnetic storage media, documents,
reports, files and all other property, including keys, of the Company or any of
its Affiliates and (ii) Executive will not retain any copies, duplicates
or excerpts of any of the aforementioned documents or items. Notwithstanding
the foregoing, (i) Executive may retain the personal effects and other
memorabilia which were heretofore located in his Maynard, Massachusetts office,
and (ii) Executive may retain the contact information contained in the
Outlook database created by Executive or his assistant after removing from such
database “confidential information” of the Company and its Affiliates (as

 

4

 

“confidential information” is defined in the
agreements described in the first sentence of Paragraph 8 below, subject to the
amendment to that definition set forth in Paragraph 8 below; the contact
information to be so removed is sometimes referred to herein as the “Specified
Contact Information”), and (iii) notwithstanding the foregoing, only
during the term of the Consulting Agreement, Executive (x) may retain and
utilize certain computers, cell phones and a Blackberry in accordance with the
provisions of the Consulting Agreement and (y) may utilize such portions of the
Specified Contact Information as reasonably required to enable Executive to
perform his duties under the Consulting Agreement. Additionally, the Company
may in its sole and absolute discretion choose to allow Executive to retain
some, all or none of the furniture which was heretofore located in Executive’s
Maynard, Massachusetts office. Any and all items being conveyed to Executive
pursuant to the preceding sentences are being conveyed “AS IS” without
representation or warranty of any kind.

 

6.                                       Review
Period; Revocation.  Executive
acknowledges that Executive has been given a period of 21 days, not including
the date of receipt, in which to consider and sign this Agreement.  In addition, Executive may revoke (i) this
Agreement within 7 calendar days of signing and delivery of this Agreement and (ii) the
Second Release within 7 calendar days of signing and delivery of the Second
Release. The Agreement will not be effective or enforceable until the
applicable 7 calendar day period described in clause (i) of the
immediately preceding sentence has expired without revocation of this Agreement
and the Second Release will not be effective or enforceable until the
applicable 7 calendar day period described in clause (ii) of the
immediately preceding sentence has expired without revocation of the Second
Release. To be effective, any revocation must be in writing and delivered to
Monster Worldwide, Inc. at 622 Third Avenue, 39th Floor, New
York, NY 10017 to the attention of Myron Olesnyckyj either by hand or by mail
within the 7 calendar day period.  If
sent by mail, the revocation must be (1) postmarked within the 7 calendar
day period, (2) properly addressed to the Company, and (3)sent by
certified mail, return receipt requested. 
Without in any way limiting the effect of revocation by Executive, in
the event that Executive revokes this Agreement or the Second Release, any
amount paid to or for the benefit of Executive under the provisions of
Paragraph 3 above shall promptly be returned to the Company.

 

7.                                       Non-disparagement.
Executive agrees not to disparage or defame the Company or any of the other
Releasees or to make any statements concerning any of the foregoing intended to
harm the business interests of the Company or any of its Affiliates.  Executive recognizes and agrees that this provision
was a significant inducement for the Company to enter into this Agreement. In
the event of a breach by Executive of any of the material terms of this
Agreement, including but not limited to this Paragraph 7, and without in
any way limiting the remedies of the Company or any other Releasee for any such
breach, Executive will automatically forfeit any outstanding payments or
benefits due under Paragraph 3 above.

 

8.                                       Restrictive
Covenants.  As a material inducement
to the Company to enter into this Agreement, Executive acknowledges and affirms
that Executive will strictly abide by each and every non-solicitation,
confidentiality, non-competition, nonraid and/or similar obligation which
Executive may have with respect to the Company and/or any of its Affiliates,
whether by agreement, fiduciary obligation or otherwise, including but not
limited to those set forth in the Specified Option Agreements, the Other Option
Agreements and Sections 3 through

 

5

 

6 of the Employment Agreement. Notwithstanding the
foregoing, for the purpose of the definition of confidential information in any
of the provisions described in the preceding sentence it is understood and
agreed that confidential information of the Company and its Affiliates shall
not include information which Executive can show (i) satisfies each of the
following three conditions: (x) was already in Executive’s possession prior to
disclosure by the Company, any of its Affiliates or any other Releasee, (y) was
not in Executive’s possession as a result of, and was not developed by
Executive as part of, Executive’s employment with or provision of services to,
the Company, Monster, Inc, Adion, Inc., Adion Information Services, Inc.,
HGI Acquisition Corp. or any other Releasee, and (z) was not previously assigned
by Executive to any Releasee or which Executive previously agreed in writing
was the property of any Releasee, (ii) is or becomes generally available
to the public other than as a result of a breach by Executive of any of his
legal, contractual, fiduciary or other obligations to the Company, any of its
Affiliates or any other Releasee, or (iii) becomes available to Executive
outside the scope of his employment or provision of services to the Company,
any of its Affiliates or any other Releasee on a non-confidential basis from a
source other than the Company, any of its Affiliates or any other Releasee,
which source is not prohibited from disclosing the information to Executive by
a legal, contractual, fiduciary or other obligation to the Company, any of its
Affiliates or any other Releasee. Furthermore, in the event Executive
reasonably believes after consultation with counsel that Executive is required
by law to disclose any confidential information of the Company, any of its
Affiliates or any other Releasee, Executive will (i) provide the Company
prompt notice before such disclosure in order that the Company or other
Releasee may attempt to obtain a protective order or other assurance that
confidential treatment will be accorded such confidential information, and (ii) cooperate
with the Company and the other Releasees, at the Company’s sole cost and
expense, in attempting to obtain such order or assurance. The parties hereby
amend the provisions of Section 3.2 of the Employment Agreement as
follows: (i) the reference to “two years” in the first sentence of such Section 3.2
is amended to read “three years” and (ii) the provisions of such Section 3.2
commencing with the words “Unless the Employment Period has been terminated by
the Company” up to and including the provisions ending with the words “additional
severance as specified in the Company’s notice.” are hereby deleted. In
addition, the provisions of Exhibit A hereto serve to amend certain
specified provisions of the restrictive covenants.

 

9.                                       Non-admission.  Nothing in this Agreement is intended to be,
nor will be deemed to be, an admission by the Company or any Releasee that (i) it
has violated any state or federal law, rule, regulation, principle of common
law or other obligation, or that (ii) it has engaged in any wrongdoing, or
(iii) Executive would be entitled to any of the consideration described in
Paragraph 3 above in the absence of this Agreement and the Second Release.

 

10.                                 Transitional
Assistance; Cooperation. Executive agrees to provide reasonable assistance
to the Company relating to the orderly transition of Executive’s duties and
responsibilities from time to time as reasonably requested by the Company. In
addition, the Company may from time to time request Executive’s reasonable
assistance in connection with pending or threaten litigation or claims
concerning matters about which Executive may have actual or imputed knowledge.
It is understood that such assistance may include, without limitation,
Executive’s providing and compiling information, participating in discussions
and/or interviews, participating in depositions requested by plaintiffs,
defendants or others and testifying as a witness.  Executive agrees to provide any and all such
reasonable assistance to the

 

6

 

Company and its advisors upon request for no
additional consideration, provided, however, that the Company
shall pay on Executive’s behalf or reimburse Executive upon presentation of
invoices therefore Executive’s reasonable out-of-pocket costs relating thereto.

 

11.                                 Certain
Understandings.  Executive represents
that Executive has not filed any complaints or charges or lawsuits against the
Company or any other Releasee with any governmental agency or court or
otherwise and, subject to the next sentence, that Executive will not do so
hereafter. Any disputes arising out of or in connection with this Agreement
(including but not limited to the General Release) or relating to any other
rights expressly retained by Executive pursuant to the terms of this Agreement
(including but not limited to the General Release) shall be submitted to
arbitration in accordance with the applicable provisions of the Specified
Option Agreements. Executive further represents that Executive has not relied
on any representation or statement of the Company or any other Releasee which
is not set forth in this Agreement.

 

12.                                 General.  This Agreement (i) constitutes the
entire agreement between the parities with respect to the subject matter hereof
and terminates, supersedes and preempts any previous oral or written
arrangements or understandings relating thereto, it being understood that
except for the provisions of Sections 3 through 6 of the Employment Agreement,
as such sections are modified by Paragraph 8 of this Agreement, the Employment
Agreement is hereby terminated and of no further force or effect, (ii) may
be signed in counterparts, (iii) shall be governed by the laws of the
State of New York, without regard to its conflict of laws rules, (iv) may
not be amended, terminated, extended or waived orally, and (v) may not be
assigned, in whole or in part, by Executive. Paragraph headings are for
convenience only and do not affect the meaning of any provisions of this
Agreement. This Agreement may be terminated by the Company by written notice to
Executive c/o the Feinberg Law Group, LLC, 57 River Street, Suite 204,
Wellesley, MA 02481, prior to August 1, 2005 only for “Cause” (as defined
in Section 1.4 of the Employment Agreement, it being understood that references
in that definition to “Restrictive Covenants” shall be deemed a reference to
the provisions of Paragraph 8 of this Agreement and references in that
definition to “this Agreement” shall be deemed a reference to this Agreement).

 

13.                                 VOLUNTARY AND KNOWING ACTION.  EXECUTIVE ACKNOWLEDGES THAT EXECUTIVE HAS
BEEN ADVISED TO CONSULT WITH AND ACTUALLY HAS CONSULTED WITH AN ATTORNEY PRIOR
TO EXECUTING THIS AGREEMENT. EXECUTIVE FURTHER ACKNOWLEDGES THAT EXECUTIVE HAS
READ THIS AGREEMENT CAREFULLY AND UNDERSTANDS ALL OF ITS TERMS, AND IS SIGNING
THIS AGREEMENT KNOWINGLY AND VOLUNTARILY AND WITH THE FULL INTENT OF, AMONG
OTHER THINGS, RELEASING THE COMPANY AND CERTAIN OTHER PARTIES OF ALL KNOWN AND
UNKNOWN CLAIMS.

 

7

 

IN WITNESS
WHEREOF, the parties hereto have executed this Agreement to be effective as of
the date first above written.

 

 

	
  Dated: July 14, 2005

  	
  /s/ Jeffrey C. Taylor

  	
   

  
	
   

  	
  Jeffrey C. Taylor

  
	
   

  	
   

  
	
   

  	
   

  
	
  Dated: July 14, 2005

  	
  /s/ Myron Olesnyckyj

  	
   

  
	
   

  	
  Monster Worldwide, Inc.

  
	
   

  	
  Name: Myron Olesnyckyj

  
	
   

  	
  Title: Senior Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  As to Section 1, Section 8
  and clause (i) of

  Section 12 only:

  
	
   

  	
   

  
	
   

  	
   

  
	
  Dated: July 14, 2005

  	
    /s/ Myron Olesnyckyj

  	
   

  
	
   

  	
  Monster, Inc.

  
	
   

  	
  Name: 

  	
  Myron Olesnyckyj

  
	
   

  	
  Title: 

  	
  Senior Vice President

  
						

 

8

 

Schedule 1

 

General
Release

 

1.                                       General
Release.  In consideration of the
obligations of Monster Worldwide, Inc., a Delaware corporation formerly
known as TMP Worldwide Inc. (the “Company”) in Paragraph 3 of the Agreement
dated as of July 14, 2005 between Jeffrey C. Taylor (“Executive”) and the
Company (the “Prior Agreement”), and as a material inducement to the Company to
enter into the Prior Agreement, Executive, on behalf of Executive, Executive’s
heirs, estate, executors, administrators, successors and assigns, does hereby
irrevocably and unconditionally release, acquit and forever discharge each of
the Releasees (as defined below) from any and all actions, causes of action,
suits, debts, administrative or agency charges, dues, sums of money, claims,
complaints, liabilities, obligations, agreements, promises, damages, demands,
judgments, costs, losses, expenses and legal fees and expenses of any nature
whatsoever, known or unknown, suspected or unsuspected, which Executive or
Executive’s heirs, estate, executors, administrators, successors and assigns
ever had, now have or hereafter can, shall or may have against each or any of
the Releasees by reason of any matter, cause or thing whatsoever from the
beginning of the world to the date of this General Release, including but
not limited to any and all rights and claims under federal, state or local
laws, regulations or requirements, the Age Discrimination in Employment Act,
the Americans with Disabilities Act, Title VII of the Civil Rights Act, the
Family and Medical Leave Act, the Workers Adjustment and Notification Act, the
laws of the Commonwealth of Massachusetts and all localities therein and all
rights and claims relating to defamation, discrimination (on the basis of sex,
race, color, national origin, religion, age, disability or otherwise), workers’
compensation, fraud, misrepresentation, breach of contract, intentional or
negligent infliction of emotional distress, breach of any covenant of good
faith and fair dealing, negligence, wrongful termination, wrongful employment
practices or any and all other claims relating to Executive’s employment with,
or separation of employment from, the Company or any of its Affiliates (as
defined below), any and all other rights and claims arising under any federal,
state or local law, statute, regulation or case law, any and all rights and
claims under the Second Amended and Restated Employment Agreement dated as of November 2,
1999, as amended by Amendment No. 1 to Employment Agreement dated October 31,
2001, among the Company, Monster, Inc. and Executive (collectively, the “Employment
Agreement”), any prior employment agreement (including but not limited to the
Employment Agreement dated as of November 10, 1995), any offer letters
and, except as provided in the next paragraph, any and all rights and claims to
options or other equity interests in the Company or any of its Affiliates. It
is understood that this General Release is the “Second Release” as defined in
the Prior Agreement.

 

                   As used in this General
Release, the term “Releasees” is a collective reference to the Company, Monster, Inc.,
Adion, Inc., Adion Information Services, Inc., and HGI Acquisition
Corp., and each of their respective present, former and future stockholders,
subsidiaries, Affiliates, successors, assigns and employee benefit plans, and
each of their respective directors, officers, employees, trustees,
representatives, insurers and agents, each in their official and individual
capacities.  As used in this General
Release, the term “Affiliates” is a

 

 

reference to all
affiliates within the meaning of Rule 405 under the Securities Act of
1933, as amended. Notwithstanding anything in this Paragraph 1 to the
contrary, nothing in this Paragraph 1 shall be deemed to be a release of (i) Executive’s
vested rights, if any, under the Company’s 401(k) plan, (ii) Executive’s
rights under the Prior Agreement, this General Release and under the Consulting
Agreement (as defined in the Prior Agreement), (iii) Executive’s rights
under the Specified Option Agreements (as defined in the Prior Agreement), each
as modified in accordance with Paragraph 2 of the Prior Agreement, (iv) Executive’s
rights under the Indemnity Agreement between Executive and the Company dated as
of September 16, 1996 and any rights to indemnification under any
applicable law, the Company’s certificate of incorporation and bylaws and any
rights to coverage under any directors’ and officers’ liability policies, and (v) Executive’s
rights to shares of Company common stock acquired at any time (a) upon
exercise of options under the Specified Option Agreements or the option
agreements dated January 3, 1996, January 6, 1997 (two agreements), December 12,
1997, or December 9, 1998, (b) in the open market or (c) under
the Company’s 401(k) plan.

 

Executive
represents that Executive has not filed any complaints or charges or lawsuits
against the Company or any other Releasee with any governmental agency or court
or otherwise. Executive further represents and warrants that Executive has not
relied on any representation or statement of the Company or any other Releasee
which is not set forth in the Prior Agreement.

 

2.                                       Review
Period; Revocation.  Executive
acknowledges that Executive has been given a period of 21 days, not including
the date of receipt, in which to consider and sign this General Release.  In addition, Executive may revoke this
General Release within 7 calendar days of signing and delivery. The General
Release will not be effective or enforceable until the 7-calendar day period
described in the immediately preceding sentence has expired without revocation
of this General Release. To be effective, any revocation must be in writing and
delivered to Monster Worldwide, Inc. at 622 Third Avenue, 39th
Floor, New York, NY 10017 to the attention of Myron Olesnyckyj either by hand
or by mail within the 7 calendar day period. 
If sent by mail, the revocation must be (1) postmarked within the 7
calendar day period, (2) properly addressed to the Company, and (3) sent
by certified mail, return receipt requested. 
Without in any way limiting the effect of revocation by Executive, in
the event that Executive revokes this General Release, any amount paid to or
for the benefit of Executive under the provisions of Paragraph 3 of the Prior
Agreement above shall promptly be returned to the Company.

 

3.                                      VOLUNTARY
AND KNOWING ACTION.  EXECUTIVE
ACKNOWLEDGES THAT EXECUTIVE HAS BEEN ADVISED TO CONSULT WITH AND ACTUALLY HAS
CONSULTED WITH AN ATTORNEY PRIOR TO EXECUTING THIS GENERAL RELEASE. EXECUTIVE
FURTHER ACKNOWLEDGES THAT EXECUTIVE HAS READ THIS GENERAL RELEASE CAREFULLY AND
UNDERSTANDS ALL OF ITS TERMS, AND IS SIGNING THIS GENERAL RELEASE KNOWINGLY AND
VOLUNTARILY AND WITH THE FULL INTENT OF, AMONG OTHER THINGS, RELEASING THE
COMPANY AND CERTAIN OTHER PARTIES OF ALL KNOWN AND UNKNOWN CLAIMS.

 

 

IN WITNESS
WHEREOF, Executive has executed this General Release on the date set forth
opposite Executive’s signature below.

 

 

	
  Dated: August       
  , 2005

  	
   

  	
   

  
	
   

  	
  Jeffrey C. Taylor

  

 

 

Exhibit A

 

Notwithstanding anything to the contrary in Section 8
of the Agreement, the Existing Option Agreements, the Other Option Agreements
and Sections 3 through 6 of the Employment Agreement, Executive may at any time
from and after the effective date of the Agreement directly or indirectly hire,
attempt to hire, solicit for employment and in connection therewith encourage
the departure from the Company and its Affiliates of, Karen “Kaycee” Langford.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00087-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00087-of-00352.parquet"}]]