Document:

Exhibit
10.42

 

Haas
Publishing Companies, Inc.

3119
Campus Drive

Norcross,
GA 30071

 

 

 

March
10 2005

 

 

Mr. Robert Metz

Chief Executive Officer

Haas Publishing Companies, Inc.

 

 

Dear Bob:

 

In connection with your
continuing employment with Haas Publishing Companies, Inc. (the “Company”),
this letter agreement (the “Letter Agreement”) 
will constitute our agreement relating to amounts and benefits owing to
you in connection with any termination of your employment.

 

In
the event we terminate your employment without cause at any time after the date
hereof and subject to the fourth paragraph hereof, we agree (i) to pay you an
aggregate amount equal to 18 months base salary at the rate being paid on the
date your employment is terminated by the Company (the “Date of Termination”),
less applicable withholdings, payable bi-weekly on the Company’s regularly
scheduled payroll dates; (ii) to pay you a bonus equal to 1.5 times your target
EICP bonus (as set forth in your EICP letter in effect for the calendar year in
which the termination occurs) less applicable withholdings, payable no later
than April 15 of the year following the year in which your termination
occurred; (iii) to pay you the LTP bonus under the Company’s Long Term
Compensation Program for the portion of the year worked in which the Date of
Termination occurs from the beginning of such calendar year to the Date of
Termination, less applicable withholdings, payable no later than March 31 of
the year following the year in which the termination occurred; and (iv) to vest
on the 18-month anniversary of the Date of Termination any unvested stock
options and restricted stock granted prior to December 31, 2004 (such vesting
to be subject to applicable withholding requirements).  Any EICP bonus for completed calendar years
unpaid at the Date of Termination shall be paid in full in accordance with the
EICP.

 

 

No severance payments
whatsoever shall be payable upon your voluntary resignation or upon termination
of your employment for cause. For purposes of this Letter Agreement, “cause”
shall mean substance abuse, conviction of a felony, fraud, theft, embezzlement,
sexual harassment, or willful or repeated failure or refusal to follow
reasonable policies or directives established and disclosed by your supervisor
or the Board of Directors of the Company.

 

 

As
consideration for the severance and benefits to be provided to you pursuant to
this Letter Agreement and as a condition to your receipt of any payments
hereunder, you agree to execute and abide by all terms of a separation and
release agreement in the form customarily being used by the Company at the time
of your termination without cause.  Such
agreement will provide that for the 18-month period immediately following the
Date of Termination you will not (i) directly or indirectly, hire, seek to
hire, solicit, encourage, induce or attempt to induce any person employed by
the Company or any of its corporate affiliates at any time during the period of
such employee’s employment to provide services to a person or entity other than
the Company or any of its corporate affiliates, or to terminate a relationship
with the Company or any of its corporate affiliates; (ii) directly or
indirectly, whether in your own enterprise or venture or as an employee,
officer, director, consultant or affiliate of any other entity, compete with
Company; or (iii) encourage, assist, authorize or knowingly approve the taking
of such actions by other persons or entities ((i), (ii) and (iii),
collectively, the “Non-Competition Provisions”)

 

In
the event that you breach any of the Non-Competition Provisions within 18
months of your execution of a separation and release agreement with the Company
and fail to cure any such breach as soon as reasonably possible after written
notice to you from the Company, in addition to any other legal or equitable
rights and remedies the Company may have, (i) the Company shall have no further
obligations under this Letter Agreement (including without limitation any
obligation to make additional payments or vest any additional rights) and (ii)
you shall be obligated to refund to the Company (x) all payments already made
under this Letter Agreement and (y) the stock options and/or restricted stock
(or the fair market value thereof in the event such stock was sold) which vested
pursuant to this Letter Agreement. The fair market value for purposes of the
recoupment with respect to exercised options or sold restricted shares shall
mean the aggregate sale proceeds less brokerage commissions.

 

The severance arrangements
set forth above shall be in lieu of and not in addition to any other severance
policies of the Company which may be in effect generally from time to
time.  This Letter Agreement shall
supersede any prior severance agreements or arrangements you had with the Company
and any such prior agreements shall be considered void.

 

Both parties agree that any
disputes hereunder shall be heard and determined by an arbitrator selected in
accordance with the rules and procedures of the American Arbitration
Association in New York City and that the arbitrator’s findings shall be final
and binding on both parties hereto.

 

This Letter Agreement and
its validity, interpretation, performance, and enforcement shall be governed by
the laws of the State of New York.

 

 

This Letter Agreement
constitutes our entire agreement supersedes all prior agreements between us and
any such prior agreements are of no further force and effect.  The provisions of this Letter Agreement may
not be changed or waived, except by a writing signed by you and the Company.

 

 

	
   

  	
   

  	
   

  	
  Very truly yours,

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Beverly C. Chell 

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Beverly C. Chell 

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Vice Chairman

  

 

	
  AGREED AND ACCEPTED

  
	
   

  
	
  /s/
  Robert Metz

  
	
  Robert
  MetzExhibit
10.43

 

Haas
Publishing Companies, Inc.

3119
Campus Drive

Norcross,
GA 30071

 

 

 

March
10 2005

 

 

Mr. David Crawford

Haas Publishing Companies, Inc.

 

 

Dear David:

 

In connection with your
continuing employment with Haas Publishing Companies, Inc. (the “Company”),
this letter agreement (the “Letter Agreement”) 
will constitute our agreement relating to amounts and benefits owing to
you in connection with any termination of your employment.

 

In
the event we terminate your employment without cause at any time after the date
hereof and subject to the fourth paragraph hereof, we agree (i) to pay you an
aggregate amount equal to 18 months base salary at the rate being paid on the
date your employment is terminated by the Company (the “Date of Termination”),
less applicable withholdings, payable bi-weekly on the Company’s regularly
scheduled payroll dates; (ii) to pay you a bonus equal to 1.5 times your target
EICP bonus (as set forth in your EICP letter in effect for the calendar year in
which the termination occurs) less applicable withholdings, payable no later
than April 15 of the year following the year in which your termination
occurred; (iii) to pay you the LTP bonus under the Company’s Long Term
Compensation Program for the portion of the year worked in which the Date of
Termination occurs from the beginning of such calendar year to the Date of
Termination, less applicable withholdings, payable no later than March 31 of
the year following the year in which the termination occurred; and (iv) to vest
on the 18-month anniversary of the Date of Termination any unvested stock
options and restricted stock granted prior to December 31, 2004 (such vesting
to be subject to applicable withholding requirements).  Any EICP bonus for completed calendar years
unpaid at the Date of Termination shall be paid in full in accordance with the
EICP.

 

 

No severance payments
whatsoever shall be payable upon your voluntary resignation or upon termination
of your employment for cause. For purposes of this Letter Agreement, “cause” shall
mean substance abuse, conviction of a felony, fraud, theft, embezzlement,
sexual harassment, or willful or repeated failure or refusal to follow
reasonable policies or directives established and disclosed by your supervisor
or the Board of Directors of the Company.

 

 

 

As
consideration for the severance and benefits to be provided to you pursuant to
this Letter Agreement and as a condition to your receipt of any payments
hereunder, you agree to execute and abide by all terms of a separation and
release agreement in the form customarily being used by the Company at the time
of your termination without cause.  Such
agreement will provide that for the 18-month period immediately following the
Date of Termination you will not (i) directly or indirectly, hire, seek to
hire, solicit, encourage, induce or attempt to induce any person employed by
the Company or any of its corporate affiliates at any time during the period of
such employee’s employment to provide services to a person or entity other than
the Company or any of its corporate affiliates, or to terminate a relationship
with the Company or any of its corporate affiliates; (ii) directly or
indirectly, whether in your own enterprise or venture or as an employee,
officer, director, consultant or affiliate of any other entity, compete with
Company; or (iii) encourage, assist, authorize or knowingly approve the taking
of such actions by other persons or entities ((i), (ii) and (iii),
collectively, the “Non-Competition Provisions”)

 

In
the event that you breach any of the Non-Competition Provisions within 18
months of your execution of a separation and release agreement with the Company
and fail to cure any such breach as soon as reasonably possible after written
notice to you from the Company, in addition to any other legal or equitable
rights and remedies the Company may have, (i) the Company shall have no further
obligations under this Letter Agreement (including without limitation any
obligation to make additional payments or vest any additional rights) and (ii)
you shall be obligated to refund to the Company (x) all payments already made
under this Letter Agreement and (y) the stock options and/or restricted stock
(or the fair market value thereof in the event such stock was sold) which
vested pursuant to this Letter Agreement. The fair market value for purposes of
the recoupment with respect to exercised options or sold restricted shares
shall mean the aggregate sale proceeds less brokerage commissions.

 

The severance arrangements
set forth above shall be in lieu of and not in addition to any other severance
policies of the Company which may be in effect generally from time to
time.  This Letter Agreement shall
supersede any prior severance agreements or arrangements you had with the
Company and any such prior agreements shall be considered void.

 

Both parties agree that any
disputes hereunder shall be heard and determined by an arbitrator selected in
accordance with the rules and procedures of the American Arbitration
Association in New York City and that the arbitrator’s findings shall be final
and binding on both parties hereto.

 

This Letter Agreement and
its validity, interpretation, performance, and enforcement shall be governed by
the laws of the State of New York.

 

This Letter Agreement
constitutes our entire agreement supersedes all prior agreements between us and
any such prior agreements are of no further force and 

 

 

 

effect. 
The provisions of this Letter Agreement may not be changed or waived,
except by a writing signed by you and the Company.

 

	
   

  	
   

  	
   

  
	
   

  	
  Very
  truly yours,

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Beverly C. Chell 

  	
   

  
	
   

  	
  Name:

  	
  Beverly
  C. Chell 

  
	
   

  	
  Title:

  	
  Vice
  Chairman

  
	
   

  	
   

  	
   

  
	
  AGREED
  AND ACCEPTED

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /s/
  David Crawford

  	
   

  	
   

  	
   

  
	
  David
  Crawford

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