Document:

exhibit10-8.htm

    
      

    

    

    

    

    Employment
Agreement

    

    This Employment Agreement
("Agreement") is made as of the 4th day of April, 2008 (the “Effective Date”),
by and between Hooper Holmes,
Inc., a New York corporation, with its principal office at 170 Mt. Airy
Road, Basking Ridge, New Jersey 07920 (the "Company") and Roy H. Bubbs
("Executive").

    

    RECITALS

    

    WHEREAS, the Company desires to embody
in this Agreement the terms and conditions of Executive’s employment with the
Company.

    

    NOW, THEREFORE, in consideration of the
mutual promises and agreements contained in this Agreement, including the
compensation to be paid to Executive, the parties hereby agree as
follows:

    

    1.           Employment; Term; Duties and
Responsibilities; Board Membership.

    

    1.1.           Appointment as President and Chief
Executive Officer.  The Company hereby  employs
Executive as its President and Chief Executive Officer, and Executive hereby
accepts such employment, subject to the terms and conditions of this
Agreement.  Executive represents and warrants to the Company that he
is not a party to any agreement that would restrict or prohibit him from being
employed by the Company.  The Company and Executive acknowledge that
Executive has been serving as the Company’s interim President and Chief
Executive Officer since February 5, 2008.

    

    1.2.           Employment
Period.  The initial term of Executive’s employment under this
Agreement shall have commenced on the Effective Date and shall continue until
the second anniversary of the Effective Date or the termination of Executive’s
employment as provided in Section 3 of this Agreement, whichever shall occur
first.  This Agreement will automatically renew for a one-year term
upon its initial expiration unless the employment of Executive has been
terminated prior to the second anniversary of the Effective Date.  The
“Term” of this Agreement shall refer to the period commencing on the Effective
Date and ending on the earlier to occur of: (i) the expiration of the Agreement;
(ii) or the termination of Executive’s employment with the Company.

    

    1.3.           Location of
Employment.  Executive shall be based at the Company’s
headquarters in Basking Ridge, New Jersey.

    

    1.4.           Duties and
Responsibilities.  In his capacity as President and Chief
Executive Officer of the Company, Executive shall report directly to the Board
of Directors of the Company (the “Board”).  Executive shall have such
duties and responsibilities, and the power and authority, normally associated
with the position of President and Chief Executive Officer, as well as any
additional duties and  responsibilities of an executive character as
shall, from time to time, be delegated or assigned to him by the
Board.  As President and Chief Executive Officer, Executive shall keep
the Board fully informed of any and all matters of a material nature, from an
operational or financial perspective, and seek Board approval of appropriate
matters, in accordance with his fiduciary duties to the Company and its
shareholders.

    

    1.5.           Devotion of
Time.  During the Term, Executive shall expend all of his
working time, care and attention to his duties, responsibilities and obligations
to the Company.  Executive may serve on the board of (i) civic and
charitable  entities, and (ii) with the prior written consent of the
Board, other corporate entities; provided, however, that such activities do not,
either individually or in the aggregate, interfere with Executive’s duties and
responsibilities as President and Chief Executive Officer of the
Company.

    

    1.6.           Board
Membership.  The Company and Executive acknowledge that
Executive currently serves as a member of the Board.  During the Term,
the Company shall cause Executive to be re-nominated to serve on the Board if
and when the term of his Board membership is set to expire, and use reasonable
efforts to cause Executive to be re-elected to the Board.  If elected
or appointed to serve as a director or officer of the Company and/or any of its
subsidiaries, Executive shall serve in such capacities in each case without any
additional compensation for such services.

    

    2.           Compensation;
Benefits.

    

    As compensation and consideration for
the services to be rendered by Executive as President and Chief Executive
Officer of the Company in accordance with the terms and conditions of this
Agreement, Executive shall be entitled to the compensation and benefits set
forth in this Section 2 (subject, in each case, to the provisions of Section 3
of this Agreement).

    

    2.1.           Base
Salary.  Executive shall receive an annual base salary (“Base
Salary”) of Five Hundred Thousand Dollars ($500,000) per year, payable on a
pro rated basis in
accordance with the Company’s standard payroll dates, provided such payments
shall not be made less frequently than twice in each calendar
month.  The Base Salary shall be reviewed at least annually by the
Compensation Committee (the “Committee”) of the Board and may be adjusted by the
Committee, in its sole discretion, based on the Committee’s consideration of the
Company’s performance, financial and otherwise.  If the Base Salary is
adjusted, the adjusted amount will thereafter be the Base Salary for all
purposes of this Agreement.  However, the Based Salary shall never be
lower than $500,000 per year.

    

    2.2.           Annual
Bonus.  Executive shall be eligible to participate in such
annual bonus or incentive compensation plans and programs as may be in effect
from time to time in accordance with the Company’s compensation practices and
the terms and provisions of any such plans or programs.  Executive’s
annual target bonus opportunity under the Company’s 2008 Executive Pay for
Performance Plan will be equal to 50% of his Base Salary, with the opportunity
to earn a maximum bonus equal to 100% of his Base Salary.  The actual
bonus amount, and the performance measures and other factors bearing on such
amount, under that plan were approved by the Committee at its meeting held on
March 3, 2008.  Except as otherwise provided by the terms of this
Agreement, any annual bonus earned shall be paid at the same time and in the
same manner as corresponding awards to other senior executives of the Company
generally.

    

    2.3.           Long-Term and Equity
Compensation.  Executive shall be eligible to participate in
any long-term incentive compensation plan (including any equity-compensation
plan) that may be adopted by the Company from time to time during the
Term.  The specific awards under any such plan will be made by the
Committee in its sole discretion, commensurate with Executive’s position as
President and Chief Executive Officer.

    

    2.4.           Initial Equity-Based
Award.  The parties acknowledge that they have memorialized in
an option agreement the Committee’s action, on April 4, 2008, to grant Executive
an option to acquire 100,000 shares of the Company’s common stock under the
terms of the Company’s 2002 Stock Option Plan at an exercise price equal to the
closing price of the Company’s common stock on the American Stock Exchange on
that date.

    

    2.5.           Health Care Allowance; Participation
in Other Benefit Plans. While Executive is employed with the
Company:

    

    (a)           The
Company shall provide him with a monthly health care allowance paid each month
during the Term equal in amount to the monthly cost the Company would bear if
Executive were insured under the Company’s group health insurance plan, it being
understood that such allowance is in lieu of Mr. Bubbs’ participation in such
plan and that Executive shall be responsible for any taxes that may be due on
such allowance; and

    

    (b)           Other
than the Company’s group health insurance plan, Executive shall be eligible to
participate in all retirement and other benefit plans and programs of the
Company generally available from time to time to employees of the Company and
for which Executive qualifies under the terms thereof.  Nothing in
this Agreement shall limit the Company’s ability to change, modify, cancel,
amend or discontinue any of such plans.

    

    2.6.           Reimbursement of
Expenses.  The Company shall pay directly or reimburse
Executive for reasonable business-related expenses and disbursements incurred by
him for and on behalf of the Company in connection with the performance of his
duties as the President and Chief Executive Officer of the Company, subject,
however, to the Company’s written policies relating to business-related expenses
as in effect from time to time.  Executive shall submit to the
Company, no later than the month after the month during which he incurred any
such business-related expenses and disbursements, a report of such expenses and
disbursements in the form normally used by the Company and receipts with respect
thereto, and the Company’s obligations under this Section 2.6 shall be subject
to compliance therewith.  Reimbursement of any business-related
expenses and disbursements shall be made in accordance with the Company’s
written policies relating to business-related expenses as in effect from time to
time.  In no event will reimbursement of any business-related expenses
and disbursements be made later than the last day of the calendar year following
the calendar year in which any such expense or disbursement was
incurred.

    

    2.7.           Vacation.  Executive
shall be entitled to paid vacation in accordance with the Company’s policy in
effect from time to time.

    

    2.8.           Car
Allowance.  While Executive is employed with the Company, the
Company shall provide him with an automobile allowance paid each month during
the Term in the amount of Seven Hundred Dollars ($700) per
month.  Executive shall be responsible for taxes that may be due, if
any, as a result of this allowance.

    

    2.9           Executive Change-in-Control
Agreement.  Executive acknowledges that in connection with
Executive’s entering into this Agreement, Executive has entered into an
Executive Change-in-Control Agreement with the Company (the “CIC
Agreement”).

    

    2.10.                      Indemnification;
Insurance.

    

    (a)           Executive
shall be entitled to indemnification in accordance with the Company’s bylaws as
in effect on the date of this Agreement and the terms of the Company’s form
indemnity agreement for officers and directors (a copy of which is attached to
this Agreement as Exhibit A), in each case subject to applicable
law.

    

    (b)           Executive
shall be covered by directors’ and officers’ liability insurance during the Term
and for any applicable statute of limitations period thereafter, to the same
extent as other officers of the Company.

    

    2.11.                      Deductions;
Withholdings.  All compensation payable to Executive under the
terms of this Agreement shall be subject to any applicable income, payroll or
other tax withholding requirements and such other deductions or amounts, if any,
as may be authorized by Executive.

    

    3.           Termination.

    

    3.1.           Termination by the
Company.  The Company shall have the right, subject to the
terms of this Agreement, to terminate Executive’s employment at any time, with
or without “Cause.”  The Company shall give Executive written notice
of a termination for Cause (the “Cause Notice”) in accordance with Section 7.2
of this Agreement.  The Cause Notice shall state the particular
action(s) or inaction(s) giving rise to the termination for Cause.  No
action(s) or inaction(s) will constitute Cause unless:

    

    (a)           a
resolution finding that Cause exists has been approved by a majority of all of
the members of the Board (excluding Executive), at a meeting at which Executive
is allowed to appear with his legal counsel; and

    

    (b)           where
remedial action is feasible, Executive fails to remedy the action(s) or
inaction(s) within ten (10) days after receiving the Cause Notice.

    

    If
Executive effects a cure to the satisfaction of the Board within the 10-day
period following his receipt of the Cause Notice, the Cause Notice shall be
deemed rescinded and of no force or effect.

    

    For
purposes of this Agreement, “Cause” shall mean:

    

    
      	
              ·  

            	
              participation
      by Executive in fraudulent conduct against the Company, or a material
      misrepresentation or omission by Executive that, in the Board’s reasonable
      judgment, has resulted or will likely result in injury to the business,
      operations or financial condition of the
  Company;

            

    

    

    
      	
              ·  

            	
              conviction
      of or a plea of guilty or nolo contendere with
      respect to a felony involving theft or moral
  turpitude;

            

    

    

    
      	
              ·  

            	
              Executive’s
      violation of any statutory or common law duty of loyalty, good faith or
      care to the Company or any of its
subsidiaries.

            

    

    

    
      	
              ·  

            	
              Executive’s
      continued violation of a material policy of the Company for a period of
      thirty (30) days after Executive’s receipt of a written notice specifying
      the nature of such violation from the
Company;

            

    

    

    
      	
              ·  

            	
              any
      refusal by Executive to follow the lawful directives of the Board that are
      consistent with the scope and nature of Executive’s duties and
      responsibilities as set forth in this
Agreement;

            

    

    

    
      	
              ·  

            	
              any
      misconduct by Executive in connection with performance of his duties
      hereunder for a period of thirty (30) days after having received a written
      notice specifying the nature of such misconduct from the Company;
      or

            

    

    

    
      	
              ·  

            	
              any
      breach by Executive of any one or more of the covenants contained in
      Sections 4 and 5.

            

    

    

     3.2           Termination by
Executive.  Executive shall have the right, subject to the
terms of this Agreement, to terminate his employment at any time with or without
“Good Reason.”

    

    For purposes of this Agreement, “Good
Reason” shall mean the occurrence of any of the following during the Term
without Executive’s prior written consent:

    

    
      	
              ·  

            	
              a
      material diminution in Executive’s authorities, duties and/or
      responsibilities as contemplated by this
  Agreement;

            

    

    

    
      	
              ·  

            	
              a
      material diminution in Executive’s Base Salary, or unless the diminution
      is a result of a Company-wide diminution in the annual bonus opportunity,
      target incentive awards and/or benefits of all similarly situated
      employees as Executive, a material diminution in the amount of Executive’s
      annual bonus opportunity, target incentive award and/or benefits,
      including health, retirement and
fringe;

            

    

    

    
      	
              ·  

            	
              a
      material failure by the Company to comply with the provisions of Section 2
      of this Agreement (provided that an isolated, insubstantial or inadvertent
      action or omission that is not in bad faith and is remedied by the Company
      promptly after receipt of notice thereof given by Executive shall not
      constitute Good Reason);

            

    

    

    
      	
              ·  

            	
              a
      change in Executive’s principal place of employment, such that the
      Executive’s commuting distance as of the date of this Agreement increases
      by more than 50 miles;

            

    

    

    
      	
              ·  

            	
              in
      the event of the occurrence of a Change in Control (as defined in
      the  Executive Change-in-Control Agreement, dated as of April 4,
      2008, between the Company and Executive (the “Executive Change-in-Control
      Agreement)), the failure of a successor to the Company to explicitly
      assume and agree to be bound by the terms of such agreement, in accordance
      with Section 5(a) of such agreement;
or

            

    

    

    
      	
              ·  

            	
              a
      material breach by the Company of any of the terms and conditions of the
      Executive Change-in-Control
Agreement.

            

    

    

    Executive
must give the Company written notice, in accordance with Section 7.2 of this
Agreement, of any Good Reason termination of employment.  Such notice
must be given within 60 days following Executive’s knowledge of the first
occurrence (as determined without regard to any prior occurrence that was
subsequently remedied by the Company) of a Good Reason circumstance and must
specify which of the Good Reason circumstances Executive is relying on, the
particular action(s) or inaction(s) giving rise to such circumstance, and the
date that Executive intends to separate from service, as defined under Section
409A of the Internal Revenue Code of 1986, as amended (“Section 409A”), which
shall be no earlier than thirty (30) days following the date of the Company’s
receipt of the notice.  Executive’s termination shall not be deemed a
Good Reason termination of employment if (i) within 30 days of the Company’s
receipt of such notice, the Company remedies the circumstance(s) giving rise to
the notice, or (ii) Executive’s termination of his employment does not occur
within 60 days after the end of the 30-day period provided to the Company to
remedy the circumstances giving rise to the notice.

    

    3.3           Death.  If
Executive dies during the Term, Executive’s employment shall automatically
terminate, such termination to be effective on the date of Executive’s
death.

    

    3.4           Disability.  If
Executive shall suffer a Disability, the Company shall have the right to
terminate Executive’s employment, such termination to be effective upon the
giving of notice to Executive in accordance  with Section 7.2 of this
Agreement.  For purposes of this Agreement, a Disability shall mean
any physical or mental incapacity as a result of which Executive is unable to
perform substantially all of his essential duties for an aggregate of four (4)
months, whether or not consecutive, during any calendar year, and which cannot
be reasonably accommodated by the Company without undue
hardship.  Executive cannot be terminated for Disability unless the
Company has delivered a written demand for substantial performance to Executive,
specifically identifying the manner in which Executive has not substantially
performed his duties, and Executive does not cure such failure within thirty
(30) days of such demand.

    

    3.5           Effect of
Termination.

    

    (a)           In
General.  Subject to the terms of Section 3.5(c), in the event
of the termination of Executive’s employment for any reason during the Term, the
Term shall end as of the date of termination and the Company shall pay to
Executive (or his beneficiary, heirs or estate, in the event of his death), as
provided in Section 3.6 of this Agreement: (i) any Base Salary, to the extent
not previously paid, to the date of termination; and (ii) any reimbursable
business expenses that have not yet been reimbursed (collectively, the “Accrued
Obligations”).  The Accrued Obligations shall be paid within 30 days
after the date of termination.

    

    (b)           Termination Resulting from
Executive’s Death or Disability.  In the event of termination
of Executive’s employment as a result of Executive’s death or Disability,
Executive (or, in the case of death, his beneficiary, heir or estate) shall be
entitled to the compensation payable in accordance with Sections 3.5(a)(i) and
(ii).  In addition, any unvested stock rights, stock options and other
unvested incentives or awards previously granted to Executive by the Company
shall be subject to the terms of the applicable plan(s) under which such rights,
options, incentives or awards were granted pertaining to the consequences of a
plan participant’s death or disability.

    

    (c)           Termination by the Company
for Cause and by Executive other than for Good Reason.  In the
event of termination of Executive’s employment by the Company for Cause, or by
Executive other than for Good Reason, neither Executive nor any beneficiary,
heir or estate of Executive shall be entitled to any compensation other than the
payments made or provided in accordance with Sections 3.5(a)(i) and
(ii).  Executive shall immediately forfeit any right to or incentive
compensation not yet paid or payable as of the date of termination, and all
unvested stock rights, stock options and other such unvested incentives or
awards previously granted to him by the Company.  Nothing in this
Agreement shall be construed to limit the rights and remedies which may be
available to the Company in the event of a termination of Executive’s employment
by the Company for Cause.

    

    (d)           Termination by the Company
without Cause; by Executive for Good Reason.  In the event of a
termination of Executive’s employment by the Company without Cause, or by
Executive for Good Reason, Executive shall receive the payments provided for in
Sections 3.5(a)(i) and (ii).  In addition:

    

    (i)        
Executive shall receive a lump-sum payment equal to the amount of Base Salary
(at the rate in effect immediately prior to his termination) that would have
been payable to him if he had continued in employment through the longer of (A)
the balance of the initial term of Executive’s employment under this Agreement,
or (B) the one-year period following the date of termination. Such lump-sum
payment shall be made within fifteen (15) days after Executive’s termination
date; provided, however, that if at the time of Executive’s termination for Good
Reason, the Employee is a “specified employee” as defined in Section 409A of the
Code, then the Company will defer the payment until the first day of the seventh
(7th) month
following the date of termination or, if earlier, Executive’s death or such
earliest other date as is permitted under Section 409A.  In the event
a lump sum payment would be subject to a delay under Section 409A, Executive may
elect to receive payments on the Company’s regularly scheduled pay dates, and
the Company shall make such payments to the extent permitted by Section 409A and
any other applicable law or regulation.

    

    (ii)           All
rights to exercise any outstanding award of stock options or stock appreciation
rights with respect to the Company’s common stock, or shares of restricted
stock, held by Executive at the date of termination shall be governed by the
terms of the applicable plan under which such award was granted.

    

    (iii)           For
the longer of (A) the balance of the initial term of Executive’s employment
under this Agreement, or (B) the one-year period following the date of
termination, Executive shall have the right to continue his participation in the
benefit plans and programs in which Executive was participating at the time of
the termination of his employment, to the extent permitted by the applicable
plan or program and subject to any subsequent modifications or amendments to any
such plan or program.

    

    (iv)           For
the longer of (A) the balance of the initial term of Executive’s employment
under this Agreement, or (B) the one-year period following the date of
termination, Executive shall also receive the monthly health care and car
allowances provided for in this Agreement.

    
 

    To the
extent the payments under subsections (iii) or (iv) are not exempt from Section
409A, any payments that cannot be paid during the 6-month period after the date
of termination described in Section 7.10(a) will be postponed until the time for
payment permitted under Section 7.10.

    

    3.6           Conditions of
Payment.  Any payments or benefits made or provided in
connection with the termination of Executive’s employment with the Company in
accordance with Section 3.5 (other than payments made or provided in accordance
with Section 3.5(a)(i) and (ii) or due to a termination of Executive’s
employment due to his death) are subject to Executive’s:

    

    (a)           compliance
with the provisions of Sections 3.8, 4 and 5 of this Agreement; and

    

    (b)           delivery
to the Company of a resignation from all offices, directorships and fiduciary
positions with the Company, its affiliates and employee benefit plans prior to
the scheduled date for which the applicable payment or benefit is be made or
provided.

    

    Payment
of the amounts specified in Sections 3.5(d)(i) and (iv) will be conditioned upon
delivery by Executive of an executed General Release, substantially in the form
attached to this Agreement as Exhibit B, with such changes or additions as
needed under then applicable law to give effect to its intent and
purpose.

    

    3.7           Mitigation.  Executive
shall be under no obligation to seek other employment following a termination of
his employment with the Company or any subsidiary for any reason.  In
addition, there shall be no offset against amounts due Executive under this
Section 3 or otherwise on account of any compensation attributable to any
subsequent employment.

    

    3.8           Cooperation;
Assistance.  Executive agrees to cooperate fully, subject to
reimbursement by the Company of reasonable out-of-pocket costs and expenses,
with the Company or any subsidiary and its or their counsel with respect to any
matter (including any litigation, investigation or governmental proceeding)
which relates to matters with which Executive was involved or about which he had
knowledge during his employment with the Company or any
subsidiary.  Such cooperation shall include appearing from time to
time at the offices of the Company or any subsidiary or its or their counsel for
conferences and interviews and, in general, providing the officers of the
Company or any subsidiary and its or their counsel with the full benefit of
Executive’s knowledge with respect to any such matter.  Executive
further agrees, upon termination of his employment for any reason and if the
Board requests, to assist his successor in the transition of his duties and
responsibilities to such successor.  Executive agrees to render such
cooperation in a timely fashion and at such times as may be mutually agreeable
to the parties.  The Company shall compensate Executive for time spent
providing assistance to the Company, based on the number of hours spent by
Executive in providing such assistance.  The hourly rate of
compensation shall be $250.

    

    3.9           Effect of the Occurrence of a Change
in Control under the CIC Agreement.  Upon the occurrence of a
Change in Control (as defined in the CIC Agreement), the terms of this Section 3
(other than this Section 3.9) shall cease to have any further force or effect,
except under the following circumstances: (i) a Change in Control occurs, (ii)
no Triggering Event (as defined in the CIC Agreement) occurs within the 12-month
period following the Change in Control (defined in the CIC Agreement as the
“Employment Period”), and (iii) subsequent to the end of such Employment Period,
either the Company terminates Executive’s employment without Cause or Executive
terminates his employment for Good Reason.  Under such circumstances
(and assuming this Agreement is in effect at the time of such termination),
Section 3 shall continue to apply to such termination.

    
 

    4.           Confidentiality.

    

    4.1           Executive
acknowledges and agrees that:

    

    (a)           by
reason of his employment with the Company and his service as a member of the
Board, Executive will have knowledge of all aspects of the Company’s operations
and will be entrusted with and have access to confidential and secret
proprietary business information and trade secrets of the Company, including but
not limited to:

    

    (i)           information
regarding the Company’s business priorities and strategic plans;

    

    (ii)           information
regarding the Company’s personnel;

    

    (iii)           financial
and marketing information (including but not limited to information about costs,
prices, profitability and sales information not available outside the
Company);

    

    (iv)           secret
and confidential plans for and information about new or existing services, and
initiatives to address the Company’s competition;

    

    (v)           information
regarding customer relationships; and

    

    (vi)           proprietary
or confidential information of customers or clients for which the Company may
owe an obligation not to disclose such information.

    

    (all such
information shall be collectively referred to as “confidential
information”);

    

    (b)           the
Company and its subsidiaries, affiliates and divisions will suffer substantial
and irreparable damage that will not be compensable through money damages if
Executive should divulge or make use of confidential information acquired by
Executive in the course of his employment with the Company and service on the
Board other than as may be required or appropriate in connection with
Executive’s work as an employee of the Company; and

    

    (c)           the
provisions of this Agreement are reasonable and necessary for the protection of
confidential information, the business of the Company and its subsidiaries,
affiliates and divisions, and the stability of their workforces.

    

    4.2           Executive  shall
keep confidential all confidential information he learns of during his
employment with the Company regarding the Company, its business, operations,
systems, employees, customers, clients and prospective clients.  In
addition, Executive agrees that he will not disclose confidential information
obtained from the Company or its officers, directors or management during his
employment, including, but not limited to, information regarding, or statements
by, the Company or its officers, directors or management, to anyone other than
as required by law or in response to a lawful court order or
subpoena.

    

    4.3           Nothing
in this Section 4 shall prohibit Executive from participating as a witness at
the request of the Company or a third party in any investigation by the SEC or
any other governmental agency charged with the investigation of any matters
related to Executive’s employment with the Company, nor shall Executive be
prohibited from testifying in response to a subpoena, court order or notice of
deposition.  Executive agrees to notify the Company’s General Counsel,
in writing, at least ten (10) days prior to the response deadline or appearance
date (whichever is earlier) for any such subpoena, court order or notice of
deposition issued by a court or investigating agency which seeks disclosure of
any confidential information.  Executive further agrees to take any
actions reasonably requested by the Company to allow the Company to protect the
release of information regarding Executive’s employment from the Company in such
court or agency proceeding.

    

    4.4           Executive
agrees that:

    

    (a)           he
will not, at any time, remove from the Company’s premises any notebooks,
software, data or other confidential information relating to the Company, except
to the extent necessary to perform his duties and responsibilities under the
terms of this Agreement;

    

    (b)           upon
the expiration or termination of the Term for any reason whatsoever, he shall
promptly deliver to the Company any and all notebooks, software, data and
documents and material, including all copies thereof, in his possession or under
his control relating to any confidential information, or which is otherwise the
property of the Company; and

    

    (c)           he
will not use any confidential information for his own benefit or for the benefit
of any new employer or any third person.

    

    4.5           For
purposes of this Section 4, the term “Company” shall mean and include the
Company and any and all subsidiaries and affiliated entities of the Company in
existence from time to time.

    

    5.           Non-Competition and
Non-Solicitation.

    

    5.1           Executive
acknowledges that the Company is, as of the Effective Date, engaged principally
in the business of providing health information risk assessment services to
insurance companies and health and wellness providers, performing lab testing
services, providing underwriting services in connection with the processing of
life insurance applications, and arranging for independent medical examinations,
peer reviews and related services – throughout the United States.  By
virtue of Executive’s position with the Company, Executive will be exposed to
and acquire significant confidential information about the Company and its
existing and future plans and strategies.  As a result, Executive
acknowledges that the Company has a legitimate business interest supporting the
restrictive covenants set forth in this Section 5.

    

    5.2           During
Executive’s employment with the Company and until the first anniversary of the
date of termination of Executive’s employment with the Company, Executive shall
not in any manner, directly or indirectly, within the United States (without the
prior written consent of a duly authorized officer of the Company):

    

    (a)           act
as a Competitive Enterprise or accept any engagement in any capacity that
involves Executive performing management, consultation, advisory or other
services of any kind with a Competitive Enterprise (as defined in Section 5.3
below);

    

    (b)           Solicit
(as defined in Section 5.3 below) any Customer (as defined in Section 5.3 below)
to transact business with a Competitive Enterprise or to reduce or refrain from
doing any business with the Company or any of its subsidiaries;

    

    (c)           transact
business with any Customer that would cause Executive to be a Competitive
Enterprise;

    

    (d)           interfere
with or damage any relationship between the Company or any its subsidiaries with
a Customer; or

    

    (e)           Solicit
anyone who is then an employee of the Company or any of its subsidiaries (or who
was an employee of the Company or any of its subsidiaries within the prior 12
months) to resign from the Company or any of its subsidiaries or to apply for or
accept employment with any other business or enterprise.

    

    5.3           For
purposes of this Agreement:

    

    “Competitive Enterprise” means
any business enterprise that either (A) engages in a business that competes
anywhere in the United States with any business in which the Company or any of
its subsidiaries is then engaged in, or (B) holds a 5% or greater equity, voting
or profit participation interest in any enterprise that competes anywhere in the
United States with any activity that the Company or any of its subsidiaries is
then engaged in; provided, however, that if (i)
the Company, including any subsidiary, ceases to do, and exits, a particular
type of business activity, then following such exit the Company and its
subsidiaries will be deemed not to be “then engaged” in such business; or (ii)
the Company, including any of its subsidiaries, was not engaged in a particular
type of business activity (and was not contemplating such business activity),
while Executive was employed by the Company, then for the purposes of this
Agreement, the Company and its subsidiaries will be deemed not to be “then
engaged” in such business.

    

    “Customer” means any customer
or prospective customer of the Company or any of its subsidiaries whose identity
became known to Executive in connection with Executive’s relationship with or
employment by the Company or any of its subsidiaries.

    

    “Solicit” means any direct or
indirect communication of any kind, regardless of who initiates it, that in any
way invites, advises, encourages or requests any person to take or refrain from
taking any action.

    

    6.           Injunctive
Relief.  If Executive
commits a breach, or threatens to commit a breach, of any of the provisions of
Section 4 or 5 of this Agreement, the Company shall have the right and remedy
(which shall be in addition to, and not in lieu of, any other rights and
remedies available to the Company at law or in equity) to have the provisions of
this Agreement specifically enforced by any court having equity jurisdiction, it
being acknowledged by Executive that any such breach or threatened breach will
or may cause irreparable injury to the Company and that money damages will or
may not provide an adequate remedy to the Company.

       

    7.           Miscellaneous.

    

    7.1           Benefit of Agreement, Assignment;
Beneficiary.  This Agreement shall inure to the benefit of and
be binding upon the Company and its successors and assigns.  This
Agreement shall also inure to the benefit of, and be enforceable by, Executive
and his personal or legal representatives, executors, administrators,
successors, heirs, distributees, devisees and legatees.  If Executive
should die while any amount would still be payable to Executive under this
Agreement if he had continued to live, all such amounts shall be paid in
accordance with the terms of this Agreement to Executive’s beneficiary, devisee,
legatee or other designee, or if there is no such designee, to Executive’s
estate.

    

    7.2           Notices.  Any
notice required or permitted under this Agreement shall be in writing and shall
be sufficiently given if personally delivered or if sent by certified mail,
postage prepaid, with return receipt requested or by reputable overnight
courier, addressed: (a) in the case of the Company, to the General Counsel of
the Company at the Company’s then-current corporate headquarters, and (b) in the
case of Executive, to Executive’s last known address as reflected in the
Company’s records, or to such other address as either party shall designate by
written notice to the other party.  Any notice given hereunder shall
be deemed to have been given at the time of receipt thereof by the person to
whom such notice is given if personally delivered or at the time of mailing if
sent by certified mail or by courier.

    

    7.3.           Entire Agreement;
Amendment.  Except as specifically provided in this Agreement,
this Agreement contains the entire agreement of the parties to this Agreement
with respect to the terms and conditions of Executive’s employment during the
Term, and supersedes all prior agreements and understandings, whether written or
oral, between the parties with respect to compensation due for services rendered
under this Agreement.  For the avoidance of doubt, in the event of any
inconsistency between this Agreement and any plan, program or arrangement of the
Company or its affiliates, the terms of this Agreement shall
control.  This Agreement may not be changed or modified except by an
instrument in writing signed by both of the parties.

    

    7.4           Waiver.  The waiver
of either party of a breach of any provision of this Agreement shall not operate
or be construed as a continuing waiver or as a consent to or waiver of any
subsequent breach.

    

    7.5           Headings.  The
section headings in this Agreement are for convenience of reference only, do not
constitute part of this Agreement and shall not be deemed to limit or affect any
of the provisions of this Agreement.

    

    7.6           Governing
Law.  This Agreement shall be governed by, and construed and
interpreted in accordance with, the internal laws of the State of New Jersey,
without reference to the principles of conflicts of laws.

    

    7.7           Survivorship.  The
respective rights and obligations of the parties under this Agreement shall
survive any termination of this Agreement to the extent necessary to effectuate
the intended preservation of such rights and obligations, including, without
limitation, Section 4 and 5 of this Agreement.

    

    7.8           Validity.  The
invalidity on unenforceability of any provision or provisions of this Agreement
shall not affect the validity or enforceability of any other provision or
provisions of this Agreement, which shall remain in full force and
effect.  If any provision of this is held to be invalid, void or
unenforceable, any court so holding shall substitute a valid, enforceable
provision that preserves, to the maximum lawful extent, the terms and intent of
this Agreement.

    

    7.9           Construction.  The
parties have participated jointly in the negotiation and drafting of this
Agreement.  In the event 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 or local 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.

    

    7.10           Section 409A.

    

    (a)           Notwithstanding
the due date of any post-employment payments, if at the time of the termination
of Executive’s employment Executive is a “specified employee” (as defined in
Section 409A, Executive will not be entitled to any payments upon termination of
employment that are subject to Section 409A until the later of (i) the date that
payments are scheduled to be made under this Agreement, or (ii)
the  earlier of (A) the first day of the seventh month following the
date of termination of his employment with the Company for any reason other than
death, or (B) the date of Executive’s death.  The provisions of this
paragraph will only apply if and to the extent required to avoid any “additional
tax” under Section 409A.  The parties to this Agreement intend that
the determination of Executive’s termination of employment shall be made in
accordance with Treasury Reg. Section 1.409A-1(h).

    

    (b)           The
parties to this Agreement intend that this Agreement and Company’s and
Executive’s exercise of authority or discretion hereunder shall comply with the
provisions of Section 409A and the Treasury regulations relating thereto so as
not to subject Executive to the payment of interest and tax penalty which may be
imposed under Section 409A.  In furtherance of this objective, to the
extent that any regulations or other guidance issued under Section 409A would
result in Executive being subject to payment of “additional tax” under Section
409A, the parties agree to use their best efforts to amend this Agreement in
order to avoid the imposition of any such “additional tax” under Section 409A,
which such amendment shall be designed to minimize the adverse economic effect
on Executive without increasing the cost to the Company (other than transactions
costs), all as reasonably determined in good faith by the Company and Executive
to maintain to the maximum extent practicable the original intent of the
applicable provisions.  This Section 7.10 does not guarantee that
payments under this Agreement will not be subject to “additional tax” under
Section 409A.

    
      
        
          -  -

        

         

      

      
         

        
          

        

      

      
         

      

    

    

    7.11           Counterparts.  This
Agreement may be executed in one or more counterparts, each of which shall be
deemed to be an original but all of which will constitute one and the same
instrument.

    

    IN WITNESS WHEREOF, each of
the parties has duly executed this Agreement on the date indicated
below.  The Company represents that its execution of this Agreement
has been authorized by the Committee.

    

    Hooper Holmes, Inc.

    

    Date:                      ___August 1,
2008                                           By:    /s/Benjamin .A
Currier

    Name:          Benjamin
A. Currier

    Title:             Chairman
of the Board

    

    

    

    Date:                      
    August
4,
2008                                                    /s/Roy H.
Bubbs

           Roy H.
Bubbs

    
      
        
          -  -exhibit10-9.htm

    
      

    

    

     

    Executive
Change-in-Control Agreement

     

     

    This Executive Change-in-Control
Agreement is made, entered into, and is effective this 9th day of April,
2008, by and between Hooper
Holmes, Inc., a New York corporation, having its principal place of
business at 170 Mt. Airy Road, Basking Ridge, New Jersey 07920 (the “Company”)
and Roy H. Bubbs, having
an address at 66 Toll Gate Lane, Avon, Connecticut 06001 (the
“Executive”).

     

     

    Whereas, the Executive is
currently employed by the Company; and

     

     

    Whereas, the Executive
possesses considerable experience and knowledge of the business and affairs of
the Company concerning its policies, methods, personnel, and operations;
and

     

     

    Whereas, the Company is
desirous of assuring, insofar as possible, that it will continue to have the
benefit of the Executive’s services and the Executive is desirous of having such
assurances; and

     

     

    Whereas, the Company
recognizes that circumstances may arise in which a Change in Control (as defined
in Article 1 of this Agreement) occurs, thereby causing uncertainty of
employment without regard to the Executive’s competence or past contributions.
 Such uncertainty may result in the loss of the valuable services of the
Executive to the detriment of the Company and its shareholders; and

     

     

    Whereas, the Executive will be
in a better position to consider the Company’s best interests if the Executive
is afforded reasonable security, as provided in this Agreement, against altered
conditions of employment which could result from any Change in
Control;

     

    Now, Therefore, in
consideration of the foregoing and of the mutual covenants and agreements of the
parties set forth in this Agreement, and of other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto, intending to be legally bound, agree as follows:

     

    
      	
              1.  

            	
              Change
      in Control.

            

    

     

    A “Change
in Control” shall be deemed to have occurred as of the first day any one or more
of the following conditions shall have been satisfied:

     

    
      	
              (a)  

            	
              Any person (other than (i) the
      Company or any subsidiary of the Company, (ii) a corporation or other
      entity owned, directly or indirectly, by the shareholders of the Company
      in substantially the same proportions as their ownership of the Company,
      or (iii) an employee benefit plan (or related trust) sponsored or
      maintained by the Company or any subsidiary of the Company), becomes the
      beneficial owner, directly or indirectly, of securities of the Company,
      representing thirty-five percent (35%) or more of the combined voting
      power of the Company’s then outstanding securities; provided,
      however, that no
      crossing of such 35% threshold shall be a "Change in Control" if it is
      caused (A) solely as a result of an acquisition by the Company of its
      voting securities or (B) solely as a result of an acquisition of the
      Company’s voting securities directly from the Company, in either case
      until such time thereafter as such person acquires additional voting
      securities other than directly from the Company and, after giving effect
      to such transaction, such person owns 35% or more of the then outstanding
      common stock or voting power of the
  Company;

            

    

     

    
      	
              (b)  

            	
              Individuals
      who, as of the date hereof, constitute the Board of Directors of the
      Company (the “Board”; such individuals being referred to as the “Incumbent
      Board”) cease for any reason to constitute at least a majority of the
      Board; provided that any person becoming a director subsequent to the date
      hereof whose election, or nomination for election by the Company’s
      shareholders, was approved by a vote of at least a majority of the
      directors then comprising the Incumbent Board (other than an election or
      nomination of an individual whose initial assumption of office is in
      connection with an actual or threatened election contest as such terms are
      used in Rule 14a-11 of Regulation 14A promulgated under the Securities
      Exchange Act of 1934 (the “’34 Act”) relating to the election of the
      directors of the Company) shall be, for purposes of this Agreement,
      considered as though such person were a member of the Incumbent Board;
      or

            

    

     

    
      	
              (c)  

            	
              A
      merger, consolidation, reorganization or share exchange, or sale of all or
      substantially all of the assets, of the Company, unless, immediately
      following such transaction, all of the following shall apply: (A) all or
      substantially all of the beneficial owners of the Company immediately
      prior to such transaction will beneficially own in substantially the same
      proportions, directly or indirectly, more than 50% of the combined voting
      power of the then outstanding voting securities of the corporation or
      other entity resulting from such transaction (including, without
      limitation, a corporation or other entity which, as a result of such
      transaction, owns the Company or all or substantially all of the Company's
      assets, either directly or through one or more subsidiaries) (the
      "Successor Entity"), (B) no person will be the beneficial owner, directly
      or indirectly, of 35% or more of the combined voting power of the then
      outstanding voting securities of the Successor Entity, and (C) at least a
      majority of the members of the board of directors of the Successor Entity
      will be Incumbent Directors.

            

    

     

    
      	
              (d)  

            	
              All
      terms used in this Section 1 shall be interpreted in a manner consistent
      with the ’34 Act.

            

    

     

    
      	
              2.  

            	
              Termination
      of Employment Following a Change in
Control.

            

    

     

    
      	
              (a)  

            	
              Triggering
      Event.  If, following a Change in Control, a Triggering
      Event occurs, the Executive will be entitled to the compensation and
      benefits described in Sections 3(a)-(c) below.  For the purposes
      of this Agreement, a “Triggering Event” means a termination of the
      Executive’s employment with the Company at any time prior to the end of
      the twelve (12) month period following the Change in Control (such period
      of time being referred to as the “Employment Period”), unless (i) such
      termination is by reason of the Executive’s Total Disability or death,
      (ii) the Company terminates the Executive’s employment with the Company
      for Cause, or (iii) the Executive terminates his employment with the
      Company for other than Good Reason.

            

    

     

    
      	
              (b)  

            	
              Cause.  For
      purposes of this Agreement, the termination of the Executive’s employment
      with the Company shall be deemed to be for “Cause” only in the event
      of:

            

    

     

    
      	 	
              A
      felony or crime of moral turpitude by the
  Executive;

            

    

     

    
      	 	
              An
      act of fraud, embezzlement, misappropriation of assets, dishonesty or
      disloyalty by the Executive;

            

    

     

    
      	 	
              The
      Executive’s failure to substantially perform  his or her duties
      as such duties exist at the time of a Change in Control (other than any
      such failure resulting from the Executive’s incapacity due to physical or
      mental illness), after a written demand for substantial performance is
      delivered to the Executive by the Company, specifically identifying the
      manner in which the Executive has not substantially performed his or her
      duties, and the Executive does not cure such failure within thirty (30)
      days of such demand;

            

    

     

    
      	 	
              The
      Executive’s material breach of this Agreement or any other agreement
      between the Executive and the
Company;

            

    

     

    
      	 	
              The
      Executive’s deliberate and persistent disregard of the Company’s polices
      or procedures, after a written demand for compliance with the Company’s
      policies or procedures is delivered to the Executive by the Company,
      specifically identifying the manner in which the Executive has not
      complied with the Company’s policies or procedures, and the Executive does
      not cure such noncompliance within thirty (30) days of such
      demand;

            

    

     

    
      	 	
              Any
      act by the Executive which brings material adverse publicity to the
      Company; or

            

    

     

    
      	 	
              An
      act, or failure to act, which constitutes gross negligence or a material
      breach of any fiduciary duty owed by the Executive to the
      Company.

            

    

     

    Any
determination of Cause under this Agreement shall be made by resolution duly
adopted by the affirmative vote of not less than a majority of the entire
membership of the Board at a regular meeting of the Board or a special meeting
called and held for that purpose.  The Executive shall be provided
with reasonable notice of such meeting and shall be given the opportunity to be
heard before such vote is taken by the Board.  The Executive’s
employment shall not be terminated for Cause if the Board determines that the
Executive’s act or failure to act was done in good faith and with reasonable
belief that the act or failure to act was in the best interest of the
Company.

     

    
      	
              (c)  

            	
              Good
      Reason.  For purposes of this Agreement, the Executive’s
      termination of his employment with the Company shall be deemed to be for
      “Good Reason” if for any of the following
  reasons:

            

    

     

    
      	 	
              A
      material diminution in the Executive’s authorities, duties, and/or
      responsibilities;

            

    

     

    
      	 	
              A
      material diminution in the budget over which the Executive retains
      authority, unless the diminution is a result of a company-wide diminution
      in total budget;

            

    

     

    
      	 	
              A
      material diminution in the Executive’s base salary, or unless the
      diminution is a result of a Company-wide diminution in the annual cash
      bonuses, target incentive awards, and/or benefits of all similarly
      situated employees as the Executive, a material diminution in the
      Executive’s annual cash bonus, target incentive award, and/or benefits,
      including health, retirement and
fringe;

            

    

     

    
      	 	
              The
      failure by the Company to pay the Executive any amount of his salary,
      bonus or other compensation when due and
  payable;

            

    

     

    
      	 	
              A
      change in the Executive’s principal place of employment; such that the
      Executive’s commuting distance as of the date of this Agreement, or as of
      the Termination Date, whichever is longer, increases by more than fifty
      miles;

            

    

     

    
      	 	
              The
      failure of a successor to the Company to explicitly assume and agree to be
      bound by this Agreement, in accordance with the terms of Section 5(a) of
      this Agreement; or

            

    

     

    
      	 	
              A
      material breach by the Company of any the terms and conditions of this
      Agreement.

            

    

     

    
      	
              (d)  

            	
              Total
      Disability.  For the purposes of this Agreement, the term
      “Total Disability” means any physical or mental incapacity as a result of
      which the Executive is unable to perform substantially all of the
      Executive’s essential duties for an aggregate of four (4) months, whether
      or not consecutive, during any calendar year, and which cannot be
      reasonably accommodated by the Company without undue
      hardship.  An Executive cannot be terminated for Total
      Disability unless the Company has delivered a written demand for
      substantial performance to the Executive, specifically identifying the
      manner in which the Executive has not substantially performed his or her
      duties, and the Executive does not cure such failure within thirty (30)
      days of such demand.

            

    

     

    
      	
              (e)  

            	
              Notice of
      Termination.  Any termination by the Company or by the
      Executive under this Agreement shall be communicated by a Notice of
      Termination to the other party hereto.  For purposes of this
      Agreement, a “Notice of Termination” shall mean a notice in writing which
      shall indicate (i) the specific termination provision in this Agreement
      relied upon to terminate the Executive’s employment, (ii) the facts and
      circumstances, in reasonable detail, claimed to provide a basis for
      termination of employment under the provision so indicated, and (iii) the
      date that the Executive separates from service as defined under Section
      409A of the Internal Revenue Code (the “Code”) from the Company or any
      affiliate.

            

    

     

    
      	
              (f)  

            	
              Termination
      Date.  As used in this Agreement, “Termination Date”
      means (i) if the Executive’s employment is terminated because of death,
      the date of the Executive’s death, (ii) if the Executive’s employment
      terminates for any other reason, the date specified in the Notice of
      Termination, which will be the date the Executive “separates from service”
      as defined under Section 409A of the Code from the Company or any
      affiliate.  If the Executive terminates his or her employment
      for Good Reason, then the date specified by the Executive in the Notice of
      Termination (i.e., the date the Executive ceases to provide services to
      the Company or affiliates) shall be at least thirty (30) days after the
      date of the notice.

            

    

     

    
      	
              3.  

            	
              Benefits
      Payable Upon Termination.

            

    

     

    Triggering
Event. Subject to Sections
4(a) and 9, if, following a Change in Control, a Triggering Event occurs, the
Company will provide the compensation and benefits set forth in (a), (b), and
(c) to the Executive:

     

    
      	
              (a)  

            	
              Lump Sum
      Payment.  The Company shall pay the Executive a lump sum
      cash amount equal to the sum of:

            

    

     

    (i) two
times the Executive’s base salary at the time of the occurrence of the Change in
Control;

     

    (ii) the
cash equivalent of any unused vacation that Executive has accrued or is
otherwise currently entitled to, prorated on a per diem basis in accordance with
the Executive’s  base salary at the time of the occurrence of the
Change in Control;

     

    (iii) two
times the Executive’s annual bonus, if any, paid to the Executive with respect
to the Company’s most recently completed fiscal year preceding the fiscal year
in which the Termination Date occurs; provided, however, that if no annual bonus
was paid with respect to the most recently completed fiscal year, then the
Executive shall receive two times the Executive’s most recent annual bonus, if
any, paid with respect to any of the Company’s three fiscal years immediately
preceding the Termination Date;

     

    (iv) the
amount of any annual bonus (or portion thereof) for the calendar year in which
the Termination Date occurs, prorated on a per diem basis from the beginning of
the calendar year to the Termination Date; and

     

    (v) all
other amounts payable to the Executive as of the Termination
Date  (other than retirement benefits and other deferred compensation,
if any, which shall be paid pursuant to applicable terms, conditions and
provisions), to the extent unpaid as of the Termination Date.

     

    Under
Section 9(b) hereof, the portion of the lump sum payment under this Section 3(a)
that is not exempt from Section 409A shall be paid on the first of the seventh
month after the Executive’s Termination Date (or, if earlier, on the date the
Executive dies after meeting the other conditions for payment).  Any
portion exempt from Section 409A shall be paid to Executive no earlier than the
Termination Date, on or before the 30th day
after the Termination Date (or, if later, the end of the seven-day period during
which the Executive may revoke his consent to providing a Release, in accordance
with Section 4(a) hereof); provided, however, that any
amount payable in accordance with Section 3(a)(iv) hereof will be paid during
the 2 1⁄2 month period between the beginning of the fiscal year following the
fiscal year in which the Termination Date occurs (i.e., between the following
January 1 and March 15 for fiscal years ending December 31).

     

    
      	
              (b)  

            	
              Medical and Dental
      Benefits.  The Company, at its sole cost and expense,
      will continue for the Executive and the Executive’s eligible dependents,
      all Company-sponsored or provided medical, dental, vision, and
      prescription drug, plans, programs and arrangements that provide for
      medical or dental benefits, whether group or individual, in which the
      Executive was entitled to participate at any time during the twelve
      (12)-month period prior to the Termination Date, until the later to occur
      of (i) the last day of the Employment Period or (ii) the six (6) – month
      anniversary of the Termination Date; provided, however, that
      payment of benefits shall terminate upon the Executive’s death (other than
      benefits payable to the Executive’s beneficiaries).  In the
      event that the Executive’s participation in any such plan, program or
      arrangement of the Company is prohibited, the Company will arrange to
      provide the Executive with benefits substantially similar to those which
      the Executive would have been entitled to receive under such plan, program
      or arrangement, for such period.  The Company shall make the
      payments necessary to continue such benefits on the Company’s customary
      payment date for such payments (whether to the Executive or to a third
      party, as applicable).

            

    

     

    
      	
              (c)  

            	
              Company
      Automobile.  The Company will continue to provide the
      Executive with the use of his or her Company automobile, if any, under the
      terms available to the Executive on the Termination Date, until the
      earlier to occur of (i) the expiration of the applicable automobile lease
      or (ii) the last day of the Employment Period.  The Company will
      make such payments at the times as are necessary to continue the benefit
      and in accordance with the terms of the applicable
  lease.

            

    

     

    To the
extent the medical benefits or automobile lease payments described in
subsections (b) and (c) above are not exempt from Section 409A of the Code,
during the 6-month period described in Section 9(b), the Executive will pay such
expenses and be reimbursed at the end of the 6-month period in accordance with
Section 9(b).

     

    Total
Disability  or Death.  If, following a Change in
Control, the Executive’s employment with the Company terminates as a result of
his Total Disability or death, the Company will provide to the Executive or the
Executive’s estate, as the case may be,

     

    (i) the
Executive’s base salary at the time of the Executive’s Total Disability or death
that is unpaid at his Termination Date, through the Termination
Date;

     

    (ii) the
Executive’s annual bonus for the fiscal year prior to which the Executive
suffered a Total Disability or died, prorated on a per diem basis from the
beginning of the fiscal year in which the Terminate Date occurs through the
Termination Date; and

     

    (iii) any
other benefits to which the Executive is/was entitled but have yet to be
paid.

     

    Payments
of amounts due in connection with a termination of the Executive’s employment
with the Company s a result of the Executive’s Total Disability or death will be
made at the same time as specified for lump sum payments under Section 3(a)
above, except that the annual bonus with respect to the fiscal year of
termination will be paid during the 2 1⁄2 month period between the beginning of
the fiscal year following the fiscal year in which the Termination Date occurs
and the 15th day of
the third month following the fiscal year in which the Termination Date occurs
(i.e., between the following January 1 and March 15 for fiscal years ending
December 31).

     

    In
addition, all Company-sponsored or provided medical, dental, vision, and
prescription drug, plans, programs and arrangements, whether group or
individual, in which the Executive and the Executive’s eligible dependants
participated in as of the Termination Date shall be continued, at the Company’s
sole expense and cost, for a period of six (6) months from the Termination
Date.  In the event that the Executive’s participation in any such
plan, program or arrangement of the Company is prohibited, the Company will
arrange to provide the Executive with benefits substantially similar to those
which the Executive would have been entitled to receive under such plan, program
or arrangement, for such period.. To the extent the medical payments described
herein are not exempt from Section 409A of the Code, during the 6-month period
described in Section 9(b), the Executive will pay such expenses and be
reimbursed at the end of the 6-month period in accordance with Section
9(b).  The Company shall make the payments necessary to continue such
benefits on the Company’s customary payment date for such payments (whether to
the Executive or to a third party, as applicable).

     

    Company’s
Termination of Executive’s Employment with the Company for Cause or Executive’s
Termination of Employment with the Company for other than for Good
Reason. If,
following a Change of Control, the Company terminates the Executive’s employment
with the Company for Cause or the Executive terminates his employment with the
Company other than for Good Reason, the Company’s only obligation to the
Executive will be to pay the Executive’s base salary (as of the date of such
termination) that is unpaid on the Termination Date, through the Termination
Date.

    

    
      	
              4.  

            	
              Covenants
      of Executive.

            

    

     

    
      	
              (a)  

            	
              Release of
      Claims.  The Company’s payment and other obligations set
      forth in Section 3(a)-(c) of the Agreement shall be subject to the
      Executive’s executing and delivering to the Company a written release of
      any and all claims against the Company and all related parties with
      respect to all matters arising out of the Executive’s employment with the
      Company or the termination thereof (the “Release”), substantially in the
      form attached hereto.  Such release must be executed no later
      than thirty (30) days after the Termination Date.  The Company
      will not be obligated to perform its obligations under Section 3(a)-(c)
      until the Executive submits the executed Release, and then only if the
      Executive does not revoke his consent to the Release for a period of seven
      (7) days following the Executive’s execution of the
    Release.

            

    

     

    
      	
              (b)  

            	
              Non-Solicitation of Company
      Employees.  For a period of two (2) years after the
      Termination Date, the Executive will not solicit (i) any employee of the
      Company to discontinue that person’s employment relationship with the
      Company, (ii) any independent contractor to the Company to terminate that
      person’s contractual relationship with the Company, or (iii) any customer
      of the Company to terminate its business relationship with the
      Company.

            

    

     

    
      	
              (c)  

            	
              Confidentiality.  The
      Executive agrees to maintain for the benefit of the Company all secret or
      confidential information, knowledge or data (“Confidential Information”)
      relating to the Company and its businesses, disclosed to the Executive or
      known, learned, created or observed by the Executive as a consequence of
      or through employment by the Company, which information is not generally
      known in the relevant trade or industry, about the Company's business
      activities, services and processes, including, but not limited to,
      information concerning the Company's contracts, marketing strategies,
      management policies, data bases, government relations, regulatory
      compliance, manuals, publicity, research, finances, accounting, trade
      secrets, business plans, client or supplier lists and records, potential
      client or supplier lists, and client and supplier billing.  The
      Executive acknowledges that the Confidential Information is confidential
      to and a valuable asset of the Company and is proprietary to and includes
      trade secrets of the Company, and is an integral part of the goodwill of
      the Company.

            

    

     

    Notwithstanding
anything to the contrary contained in this Agreement, the restrictions on the
Executive’s disclosure and use of the Confidential Information shall not apply
to: (i) information, processes or techniques which are or become generally
known, other than through disclosure (whether deliberate or inadvertent) by the
Executive; (ii) disclosure of Confidential Information in judicial or
administrative proceedings to the extent the Executive is legally compelled to
disclose such information, provided that the Executive shall have used his or
her best efforts and shall have afforded the Company the opportunity to obtain
an appropriate protective order or other assurance reasonably satisfactory to
the Company of confidential treatment for the information required to be so
disclosed; or (iii) information that was or becomes available to the Executive
on a non-confidential basis from a third party that is not, to the Executive’s
knowledge after due inquiry, either bound by a confidentiality agreement with
the Company or otherwise prohibited from transferring the information to the
Executive.

     

    
      	
              (d)  

            	
              Construction.  If
      one or more of the provisions in Section 4 of this Agreement is for any
      reason held to be excessively broad as to scope, activity, subject or
      otherwise, so as to be unenforceable by law, such provision or provisions
      shall be construed by the appropriate judicial body by limiting or
      reducing them, so as to be enforceable to the maximum extent compatible
      with the applicable law as it shall then
appear.

            

    

     

    
      	
              (e)  

            	
              Injunctive
      Relief.  In addition to any other remedies that may be
      available at law, the Executive understands that any breach of the terms
      of Section 4 of this Agreement will result in irreparable injury to the
      Company, such as to entitle the Company to equitable relief, including,
      but not limited to, injunctive relief or the specific enforcement of this
      Agreement, as is appropriate.

            

    

     

    
      	
              5.  

            	
              Successors
      and Assigns.

            

    

     

    Except as
otherwise provided in this Agreement, this Agreement shall inure to the benefit
of and be binding upon the parties hereto and their respective heirs,
representatives, successors and assigns.

     

    
      	
              (a)  

            	
              Company
      Successor.  The Company shall require any successor
      (whether direct or indirect, by purchase, merger, consolidation or
      otherwise) to all or substantially all of the business or assets of the
      Company, expressly to assume and agree to perform this Agreement in the
      same manner and to the same extent as the Company would be required to
      perform it if no such succession had taken place.  Failure of
      the Company to obtain such agreement prior to the effectiveness of any
      such succession shall be a breach of this Agreement and shall entitle the
      Executive to compensation from the Company in the same amount and on the
      same terms as the Executive would be entitled to hereunder if the
      Executive had given notice of termination for Good Reason as of the day
      immediately before such succession became effective and had specified that
      day in the notice of termination.  As used in this Agreement,
      the “Company” shall mean the Company as defined in the first sentence of
      this Agreement and any successor to all or substantially all its business
      or assets or which otherwise becomes bound by all the terms and provisions
      of this Agreement, whether by the terms hereof, by operation of law or
      otherwise.

            

    

     

    
      	
              (b)  

            	
              Executive’s
      Successor.  This Agreement shall inure to the benefit of
      and be enforceable by the Executive and the Executive’s personal or legal
      representatives and successors in interest under this
      Agreement.

            

    

     

    
      	
              6.  

            	
              Notice.

            

    

     

    Any
notice, demand or other communication required or permitted under this Agreement
shall be effective only if it is in writing and delivered personally or sent by
registered or certified mail, return receipt requested, postage prepaid, or
reputable overnight courier service, addressed to the respective addresses set
forth on the first page of this Agreement, provided that all notices to the
Company shall be directed to Chairman of the Compensation Committee, or to such
other address as either party may designate by notice to the other and shall be
deemed to have been given as of the date so personally delivered or
mailed.

     

    
      	
              7.  

            	
              Miscellaneous.

            

    

     

    
      	
              (a)  

            	
              No
      Waiver.   No term or condition of this Agreement may
      be waived in whole or in part unless by the party against whom enforcement
      of the modification or waiver is sought agrees in writing to such
      modification or waiver.  The failure of a party to insist upon
      strict adherence to any term of this Agreement on any occasion shall not
      be considered a waiver thereof or deprive that party of the right
      thereafter to insist upon strict adherence to that term or any other term
      of this Agreement.

            

    

     

    
      	
              (b)  

            	
              Section
      Headings.   Section headings are only for
      convenience of reference and do not affect the meaning of any provision of
      this Agreement.

            

    

     

    
      	
              (c)  

            	
              Severability.  The
      invalidity or unenforceability of any provision of this Agreement shall
      not affect the validity or enforceability of any other provision of this
      Agreement.

            

    

     

    
      	
              8.  

            	
              Employment
      Status.

            

    

     

    This
Agreement is not, and nothing herein shall be deemed to create, an employment
contract between the Executive and the Company or change the Executive’s
employment-at-will status. The Executive acknowledges that the rights of the
Company remain wholly intact to change or reduce at any time and from time to
time the Executive’s compensation, title, responsibilities, location, and all
other aspects of the employment relationship, or to discharge the Executive (or
for the Executive voluntarily to resign) prior to a Change in
Control.

     

    
      	
              9.  

            	
              Section 409A
      Compliance.

            

    

     

    
      	
              (a)

            	
              Intent to comply;
      interpretation.   Payments under this Agreement are
      intended to comply with Section 409A of the Code and this Agreement shall
      be interpreted to comply with Section
409A.

            

    

     

    
      	
              (b)

            	
              Six-month delay for certain
      “specified employees.”  Because Executive is a “specified
      employee” as defined under Section 409A of the Code, Section
      409A(a)(2)(B)(i) of the Code requires a 6-month delay for any payments
      that are not exempt from Section 409A and that are payable upon
      termination of employment.  Therefore, any such payments shall
      be made no earlier than the first day of the seventh month following the
      date of Executive’s separation from service or, if earlier, the date the
      Executive dies after his separation from
  service.

            

    

    

    
      	
              10.  

            	
              Tax
      Matters.

            

    

     

    
      	
              (a)

            	
              Withholdings.  The
      Company may withhold from any benefits payable under this Agreement all
      federal, state, city or other taxes as shall be required pursuant to any
      law or governmental regulation or
ruling.

            

    

     

    
      	
              (b)

            	
              Section 280G (golden
      parachutes).  The Company,  or a public
      accounting firm or other entity chosen by the Company, shall determine if
      any payments made pursuant to this Agreement, any supplement to this
      Agreement, or any other payment received or deemed to be received by
      Executive from the Company or any of its subsidiaries and affiliates, or
      from any pension, welfare or other compensation plan sponsored by the
      Company or its affiliates, is or will become subject to any excise tax
      under Section 4999 of the Code, or any similar tax payable under any
      federal or state, local or other law (“Excise Taxes”). If it is determined
      that any payment is or will become subject to any Excise Taxes, then the
      Company or its designate shall determine if the payment of the Excise
      Taxes, in addition to any federal, state, local or other income, excise or
      other taxes (“Other Taxes”) payable by the Executive with respect to the
      payments to be received, will cause the Executive to pay an amount of
      Excise and Other Taxes such that the net payment the Executive will
      receive after payment of all Excise and Other Taxes on such payment is
      less than what he would receive if the payment he would receive was
      reduced to the maximum amount payable  without imposition of any
      Excise Taxes (“Economic Detriment”).  If it is determined that
      the Executive will incur an Economic Detriment as the result of the
      receipt of  payments under this Agreement, the payment to the
      Executive under this Agreement shall be reduced to the maximum possible
      payment that can be paid to the Executive without his incurring any Excise
      Taxes.  If any payments are reduced under this Section 10(b),
      they shall be payments that would cause the Executive to incur an Economic
      Detriment as described above and  shall come  from
      first, any lump sum payments due to the Executive other than the annual
      bonus payable for the fiscal year of termination under Section 3(a)(iv) or
      3(ii) in the case of Total Disability or death, next, from the bonus
      payable for the fiscal year of termination under Section 3(a)(iv),
      followed by any automobile reimbursement and then by any medical payments
      due to the Executive.

            

    

    

    
      	
              11.  

            	
              Non-assignability.
  

            

    

    

    This
Agreement is personal in nature and neither of the parties hereto shall, without
the consent of the other, assign or transfer this Agreement or any rights or
obligations hereunder, except as provided in Article 5
hereof.  Without limiting the foregoing, the Executive’s right to
receive payments hereunder shall not be assignable or transferable, whether by
pledge, creation of a security interest or otherwise, other than a transfer by
the Executive’s will or by the laws of intestacy, and in the event of any
attempted assignment or transfer contrary to this Article 10, the Company shall
have no liability to pay any amount so attempted to be assigned or
transferred.

     

    
      	
              12.  

            	
              Mediation/Arbitration.

            

    

     

    With the
exception of the covenants of the Executive set forth in Section 4 of this
Agreement, the parties shall endeavor to resolve any dispute arising out of, or
relating to, this Agreement by mediation under the International Institute for
Conflict Prevention and Resolution (“CPR”) Mediation Procedure for Business
Disputes. Unless the parties agree otherwise, the mediator will be selected from
the CPR Panel of Neutrals with notification to CPR. Any controversy or claim
arising out of or relating to this contract or the breach, termination or
validity thereof, which remains unresolved forty-five (45) days after
appointment of a mediator, shall be settled by arbitration by a sole arbitrator
in accordance with the CPR Non-administered Arbitration Rules, and judgment upon
the award rendered by the arbitrator may be entered by any court having
jurisdiction thereof.

     

    
      	
              13.  

            	
              Governing
      Law.

            

    

     

    This
Agreement shall be governed by applicable federal law and the internal law of
the State of New Jersey without reference to its choice of law rules or to any
other rule of any jurisdiction that would cause the application of rules other
than the jurisdiction of the State of New Jersey.

     

    
      	
              14.  

            	
              Entire
      Agreement.

            

    

     

    This
Agreement constitutes the entire understanding of the parties relating to the
subject matter hereof and supersedes all prior agreements, understandings and
representations, whether oral or written, relating to the subject matter
hereof.

     

    
      	
              15.  

            	
              term;
      Termination of agreement.

            

    

     

    Subject
to the terms of the next sentence, the term of this Agreement shall commence on
the date first set forth above and shall end on April 8, 2011; provided, however, that the
Agreement shall continue in effect for successive periods of one year thereafter
unless either the Company or the Executive gives written notice of intent to
terminate the Agreement at least six (6) months prior to the expiration of the
then-current term of the Agreement.  This Agreement shall automatically
terminate if, before a Change in Control occurs, either the Company terminates
the Executive's employment or the Executive terminates his employment with the
Company, in either case for any reason.  For purposes of this Agreement, a
termination of the Executive's employment shall be deemed to have occurred when
the Executive ceases active employment with the Company, even if the Executive
remains on the Company’s payroll as an inactive employee.  The termination
of this Agreement will not affect the obligation of the Company to make payments
or provide benefits to which the Executive became entitled before such
termination.

     

    
      	
              16.  

            	
              Counterparts.

            

    

     

    This
Agreement may be executed in any number of counterparts, each of which so
executed shall be deemed to be an original, and such counterparts will together
constitute but one Agreement.

     

    
      
        
           

        

         

      

      
         

        
          

        

      

      
         

      

    

    In Witness Whereof, the
Company and the Executive have executed and delivered this Agreement as of the
date first above written.

     

    

     

    Hooper
Holmes, Inc.

    

    

    

    By: /s/ William F.
Kracklauaer

          Name:  William
F. Kracklauer

          Title: Sr.
Vice President,

        General
Counsel, 

                                                                                                                       
Secretary

    

    Executive

    

    

    

    /s/ Roy H.
Bubbs

    Name: Roy H. Bubbs

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