Document:

Form of Common Stock Repurchase Agreement

 Exhibit 10.16 
 COMMON STOCK REPURCHASE AGREEMENT 
 THIS COMMON STOCK REPURCHASE AGREEMENT
(the “Agreement”) is entered into as of [date] by and between Synacor, Inc., a Delaware corporation (the “Company”), and [name] (the “Stockholder”). 

RECITALS 
 WHEREAS, the Stockholder is the holder of              (post-split) shares of the Company’s common stock (the “Common
Stock”), which the Stockholder purchased from the Company pursuant to a Stock Option Agreement dated as of [date] (the “Prior Agreement”); and 
 WHEREAS, the Stockholder desires to sell, and the Company desires to repurchase,              shares of Common Stock (the
“Shares”) on the terms and subject to the conditions set forth in this Agreement (the “Repurchase”). 
 NOW, THEREFORE, in consideration of the promises, covenants and agreements herein contained, the parties agree as follows: 
 AGREEMENT 
 SECTION 1. REPURCHASE OF SHARES. 

1.1 Repurchase. At the Closing (as defined below), the Company hereby agrees to repurchase from the Stockholder, and the
Stockholder hereby agrees to sell, assign and transfer to the Company, all of the Stockholder’s right, title and interest in and to the Shares at the per Share price of $        , for an aggregate
repurchase price of $         (the “Repurchase Amount”). Upon the execution of this Agreement, the Stockholder shall execute an Assignment Separate from Certificate, in the form attached
hereto as Exhibit A (the “Stock Assignment”), and at the Closing shall deliver the Stock Assignment and the stock certificate representing the Shares (or an affidavit of lost certificate in lieu of the stock certificate
representing the Shares). Upon consummation of this Agreement, the Company shall cancel such stock certificate and shall issue a new stock certificate to the Stockholder representing the balance of the Stockholder’s unpurchased shares. The
Repurchase Amount shall be paid by cash, check or wire transfer of immediately available funds to an account or accounts to be designated by the Stockholder. 
 1.2 Closing. The closing of the Repurchase (the “Closing”) shall take place at the offices of the Company, 40 La Riviere Drive, Suite 300, Buffalo, New York on the date hereof, or
at such other time and place as the parties hereto shall mutually agree. 
 1.3 Termination of Rights as the Stockholder.
Upon payment of the Repurchase Amount, the Shares shall cease to be outstanding for any and all purposes, and the Stockholder shall no longer have any rights as a holder of the Shares, including any rights that the Stockholder may have had under the
Company’s Certificate of Incorporation or otherwise. 

 1.4 Withholding Rights. The Company shall be entitled to deduct and withhold from the
Repurchase Amount such amounts as it may be required to deduct and withhold with respect to the making of such payment under the U.S. Internal Revenue Code of 1986, as amended, or any provision of foreign, state or local tax law. To the extent that
amounts are so withheld by the Company, such withheld amounts shall be treated for all purposes of this Agreement as having been paid to the Stockholder. 
 1.5 Remaining Shares. The Stockholder acknowledges and agrees that (a) the Shares constitute vested shares not subject to the Company’s right of repurchase set forth in the Prior
Agreement and (b) that all shares of Common Stock that were issued to the Stockholder pursuant to the Prior Agreement other than the Shares sold to the Company hereunder shall remain subject to the terms and conditions of the Prior Agreement.

 SECTION 2. REPRESENTATIONS AND WARRANTIES. 
 In connection with the transactions provided for hereby, the Stockholder represents and warrants to the Company as follows: 
 2.1 Ownership of Shares. The Stockholder has good and marketable right, title and interest (legal and beneficial) in and to all of the Shares, free and clear of all liens, pledges, security
interests, charges, claims, equity or encumbrances of any kind. Upon paying for the Shares in accordance with this Agreement, the Company will acquire good and marketable title to the Shares, free and clear of all liens, pledges, security interests,
charges, claims, equity or encumbrances of any kind. 
 2.2 Authorization. The Stockholder has all necessary power and
authority to execute, deliver and perform the Stockholder’s obligations under this Agreement and all agreements, instruments and documents contemplated hereby and to sell and deliver the Shares being sold hereunder, and this Agreement
constitutes a valid and binding obligation of the Stockholder. 
 2.3 No Conflict. The execution and delivery of this
Agreement and the consummation of the transactions contemplated hereby will not result in a breach by the Stockholder of, or constitute a default by the Stockholder under, any agreement, instrument, decree, judgment or order to which the Stockholder
is a party or by which the Stockholder may be bound. 
 2.4 Experience and Evaluation. By reason of the
Stockholder’s business or financial experience or the business or financial experience of the Stockholder’s professional advisers who are unaffiliated with the Company and who are not compensated by the Company, the Stockholder has the
capacity to protect the Stockholder’s own interests in connection with the sale of the Shares to the Company. The Stockholder is capable of evaluating the potential risks and benefits of the sale hereunder of the Shares. 

  
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 2.5 Access to Information. The Stockholder has received all of the information that
the Stockholder considers necessary or appropriate for deciding whether to sell the Shares hereunder and perform the other transactions contemplated hereby. The Stockholder further represents that the Stockholder has had an opportunity to ask
questions and receive answers from the Company regarding the business, properties, prospects and financial condition of the Company and to seek from the Company such additional information as the Stockholder has deemed necessary to verify the
accuracy of any such information furnished or otherwise made available to the Stockholder by or on behalf of the Company. 
 2.6
No Future Participation. The Stockholder acknowledges that the Stockholder will have no future participation in any Company gains, losses, profits or distributions with respect to the Shares. If the Shares increase in value by any means, or
if the Company’s equity becomes freely tradable and increases in value, the Stockholder acknowledges that the Stockholder is voluntarily forfeiting any opportunity to share in any resulting increase in value from the Shares. 

2.7 Tax Matters. The Stockholder has had an opportunity to review with the Stockholder’s tax advisers the federal, state,
local and foreign tax consequences of the Repurchase and the transactions contemplated by this Agreement. The Stockholder is relying solely on such advisers and not on any statements or representations of the Company or any of its agents. The
Stockholder understands that the Stockholder (and not the Company) shall be responsible for the Stockholder’s tax liability and any related interest and penalties that may arise as a result of the transactions contemplated by this Agreement.

 SECTION 3. SUCCESSORS AND ASSIGNS. 
 Except as otherwise provided herein, the terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors and assigns of the parties (including
transferees of any Shares). Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations, or liabilities under or by
reason of this Agreement, except as expressly provided in this Agreement. 
 SECTION 4. GOVERNING LAW. 

This Agreement shall be governed by and construed in accordance with the laws of the State of New York, except the choice-of-law
provisions thereof. 
 SECTION 5. ENTIRE AGREEMENT. 
 This Agreement contains the entire understanding of the parties, and there are no further or other agreements or understandings, written or oral, in effect between the parties relating to the subject
matter hereof, except as expressly referred to herein. 

  
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 SECTION 6. AMENDMENTS AND WAIVERS. 

Any term of this Agreement may be amended, and the observance of any term of this Agreement may be waived (either generally or in a
particular instance and either retroactively or prospectively), only with the written consent of the Stockholder and the Company. 
 SECTION
7. FURTHER ACTION. 
 Each party hereto agrees to execute any additional documents and to take any further action as may be
necessary or desirable in order to implement the transactions contemplated by this Agreement. 
 SECTION 8. SURVIVAL. 

The representations and warranties herein shall survive the Closing. 
 SECTION 9. SEVERABILITY. 
 Whenever possible, each provision of this
Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement shall be held to be prohibited by or invalid under applicable law, such provision shall be ineffective only to
the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Agreement. 
 SECTION 10. NOTICES. 
 All notices and other communications given or made
pursuant hereto shall be in writing and shall be deemed effectively given (a) upon personal delivery to the party to be notified, (b) when sent by confirmed facsimile, if sent during normal business hours of the recipient or, if not, then
on the next business day, (c) five days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one day after deposit with a nationally recognized overnight courier, specifying next-day
delivery, with written verification of receipt. All communications shall be sent to the respective parties at the addresses set forth on the signature pages attached hereto (or at such other addresses as shall be specified by notice given in
accordance with this Section 10). 
 SECTION 11. COUNTERPARTS. 

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

  
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 IN WITNESS WHEREOF, each of the parties has executed this Stock Repurchase Agreement as of
the day and year first above written. 
  

			
	COMPANY:
	
	Synacor, Inc.
		
	By	 	  

	Name:
	Title:

 
					
		
	STOCKHOLDER:	 	
	
	  

	[name]	 		 	
			
	Address:	 	  
	 	
		 	  
	 	

 ASSIGNMENT SEPARATE FROM
CERTIFICATE 
 FOR VALUE RECEIVED, the Stockholder hereby sells, assigns and transfers unto Synacor, Inc.
(the “Company”)              (post-split) shares of the Company’s common stock standing in the Stockholder’s name on the books of the Company and represented by
Certificate Number              herewith and does hereby irrevocably constitute and appoint Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP, the Stockholder’s
attorney-in-fact, to transfer such stock on the books of the Company with full power of substitution in the premises. 
  

			
	Dated:	 	  

  

	
	STOCKHOLDER
	
	  

 This Assignment Separate from Certificate was executed pursuant to the terms of that certain Stock Repurchase
Agreement by and between Synacor, Inc. and the Stockholder dated                     .Offer Letter signed January 27, 2012

 Exhibit 10.1 
 January 27, 2012 
 John M. Stephens 
 Dear John: 
 We are pleased to offer you the position of Senior Vice President – Finance for
M.D.C. Holdings, Inc. (the “Company”) with a start date of February 1, 2012. On February 13, 2012 your title will change to Senior Vice President, Chief Financial Officer and Principal Accounting Officer and you will begin
performing the Company’s principal financial officer and principal accounting officer functions. The Company will file with the SEC its Annual Report on Form 10-K for the year ended December 31, 2011 on or around February 2, 2012,
prior to your assumption of the duties of principal financial officer or principal accounting officer. Your initial base salary will be $425,000 annually. Your base salary will be reviewed annually, and it may be increased, but not decreased, at the
discretion of the Company. You will also be eligible to receive an annual discretionary bonus 50% in cash and 50% in restricted stock. This bonus shall be paid in February of each year, beginning in February of 2013. Your annual bonus target is 100%
of your base salary (i.e., $425,000 for your first year). Additionally, on your start date, you will receive a stock option grant covering 75,000 shares of common stock in the Company and also a restricted stock award of 10,000 shares of common
stock of the Company. All restricted stock will be valued at the closing price on the day of the award and the restrictions will lapse at 25% per year over four years, beginning on the first anniversary of the date of the award. The stock
option will have a life of ten years. The exercise price of the stock option will be the closing price of the stock on the date of the grant and the option will become exercisable as to 33-1/3% of the shares on each of the third, fourth and fifth
anniversary dates of the grant. The restricted stock and the stock option will be awarded pursuant to, and subject to, the terms and conditions of the Company’s 2011 Equity Incentive Plan and the Company’s standard Restricted Stock
Agreement and Stock Option Agreement forms. 
 We will provide a full relocation package for you and your family as may be reasonable under the
circumstances, including: 1) pack and move of household goods, 2) temporary living accommodations through June 30, 2012, 3) two house hunting trips for you and your family, and 4) airfare and parking for trips home on weekends through
June 30, 2012. Additionally, on your start date, you will be provided with a change in control agreement providing for payment of 1X base salary and 1X the target bonus amount; the other material terms and conditions of which will be comparable
to those of Mr. Touff’s agreement dated July 30, 2008. In addition we will include in the change of control document a severance package equal to 1X base salary if the Company terminates your employment for other than cause, death or
disability (you cannot receive both a change in control payment and a severance payment). 
 Your direct supervisor will be David Mandarich. It
is a Company policy that all details of any offers of employment are contingent upon a satisfactory background check. 

 As in the case with all of our employees, your employment status with the Company will be on an
“at-will basis”. This means that both you and the Company have the right to terminate the employment relationship at any time, with or without cause or notice. 
 We offer a benefits package to our employees and, based on your start date, you will be eligible for most of these benefits effective March 1, 2012 assuming a February 1
start date. You will enroll in benefits using an online enrollment tool. Enrollment can be completed any time during your eligibility waiting period, but must be completed no later than midnight Eastern Time on February 29, 2012.
Additionally we will reimburse you for the difference in COBRA medical coverage rates through your current employer and our company provided medical plan premium for the 30 day waiting period during which you are not eligible for MDC coverage. As we
have discussed you will be eligible for 3 weeks of vacation per year, prorated for 2012. 
 On your first day, we will need to complete
your I-9 Employment Eligibility Verification Form. Please bring the appropriate documentation as listed on the reverse side of the enclosed document entitled “Employment Eligibility Verification”. BY FEDERAL LAW, we must inspect the
original documents to complete the I-9 form WITHIN 3 DAYS of your hire date. 
 Please confirm your acceptance of this offer by signing,
dating and returning one original copy of this letter 
 Please do not hesitate to contact me at 303-804-7751 if you have any questions or
require any additional information. 
 Sincerely, 
 /s/ Karen Gard 
 Karen Gard 
 Vice President, Human Resources 
 Enclosures 

Accepted on this 27th day of January , 2012 by: 
  

	
	 /s/ John M. Stephens

	John M. Stephens

  
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