Document:

ex10-22

 

EXHIBIT 10.22

[uDate.com Letterhead ]

Martin Clifford

Chief Operating Officer

Udate.com Limited

New Enterprise House

St. Helens St

Derby DE1 3GY

January 3, 2002

Dear Martin

TERMS OF EMPLOYMENT

It has come to the attention of uDate.com, Inc., a Delaware corporation
(“uDate”), that the way in which “the Company” is defined within your Terms of
Employment and Variation Agreement dated 13 July 2001, may not clearly reflect
the parties intentions at the time the document was signed.

In order to clarify this and to enable uDate to deliver the recommendations of
the Compensation Committee of uDate’s Board of Directors, as set forth in the
minutes of 28 June 2001, I write to confirm the definition that was intended.

The words “the Company” contained within both Agreements are to be interpreted
so as to mean “the Company and/or the Parent Company”.

The words “Parent Company” will mean uDate.com, Inc., a Delaware corporation,
and the word “Company” will mean uDate.com Limited.

For the avoidance of any further doubt, the definition contained within the
aforementioned Terms of Employment and Variation Agreement relating to
“Transfer of Controlling Interest” is hereby amended and restated to read in
its entirety as follows:

		
	 	“ (i) the sale of or grant of a right to acquire or dispose of or any
other transfer of (whether by a single transaction or a series of
transactions) a Controlling Interest, (ii) a merger or consolidation in
which the Parent Company is not the surviving entity, except for a
transaction the principal purpose of which is to change the state in
which the Parent Company is incorporated, or (iii) any reverse merger in
which the Parent Company is the surviving entity but in which securities
possessing more than fifty percent (50%) of the total combined voting
power of the Parent Company’s outstanding securities are transferred to a
person or persons different from those who held such securities
immediately prior to such merger.”

 

This letter amends the Contract of Employment, dated 9 May 2000, and the Terms
of Employment and Variation Agreement, dated 13 July 2001, which agreements,
except as amended as set forth above, remain in full force and effect.

	 	 	 
	Yours sincerely	 	 
	 
	UDATE.COM, INC	 	
UDATE.COM LIMITED
	 
	/s/ Melvyn Morris
	 	
/s/ Melvyn Morris

	 
	Mel Morris

President and Chief Executive Officer	 	
Mel Morris

Director

I understand and accept the variations to the definitions contained in the
Service Agreement and letter of variation thereof set out in this letter.

	 	 	 
	Signed	 	
  /s/ Martin R. Clifford

	 
	Dated:	 	
  Jan. 3 2002ex10-23

 

EXHIBIT 10.23

[uDate.com Letterhead]

Mike Brocklesby

Chief Financial Officer

Udate.com Limited

New Enterprise House

St. Helens St

Derby DE1 3GY

January 3, 2002

Dear Mike

TERMS OF EMPLOYMENT

It has come to the attention of uDate.com, Inc., a Delaware corporation
(“uDate”), that the way in which “the Company” is defined within your Terms of
Employment and Variation Agreement dated 13 July 2001, may not clearly reflect
the parties intentions at the time the document was signed.

In order to clarify this and to enable uDate to deliver the recommendations of
the Compensation Committee of uDate’s Board of Directors, as set forth in the
minutes of 28 June 2001, I write to confirm the definition that was intended.

The words “the Company” contained within both Agreements are to be interpreted
so as to mean “the Company and/or the Parent Company”.

The words “Parent Company” will mean uDate.com, Inc., a Delaware corporation,
and the word “Company” will mean uDate.com Limited.

For the avoidance of any further doubt, the definition contained within the
aforementioned Terms of Employment and Variation Agreement relating to
“Transfer of Controlling Interest” is hereby amended and restated to read in
its entirety as follows:

	 	
“(i) the sale of or grant of a right to acquire or dispose of or any
other transfer of (whether by a single transaction or a series of
transactions) a Controlling Interest, (ii) a merger or consolidation in
which the Parent Company is not the surviving entity, except for a
transaction the principal purpose of which is to change the state in
which the Parent Company is incorporated, or (iii) any reverse merger in
which the Parent Company is the surviving entity but in which securities
possessing more than fifty percent (50%) of the total combined voting
power of the Parent Company’s outstanding securities are transferred to a
person or persons different from those who held such securities
immediately prior to such merger.”

 

 

This letter amends the Contract of Employment, dated October 2000, and the
Terms of Employment and Variation Agreement, dated 13 July 2001, which
agreements, except as amended as set forth above, remain in full force and
effect.

	 	 	 
	Yours sincerely

	 	

	 
	
UDATE.COM, INC	 	
UDATE.COM LIMITED
	 
	/s/ Melvyn Morris
	 	
/s/ Melvyn Morris

	 
	Mel Morris

President and Chief Executive Officer	 	
Mel Morris

Director

I understand and accept the variations to the definitions contained in the
Service Agreement and letter of variation thereof set out in this letter.

	 	 	 
	Signed	 	
  M. Brocklesby

	 
	Dated:	 	
  3 January 2002ex10-24

 

EXHIBIT 10.24

NON-COMPETE AGREEMENT

     This Non-Compete Agreement (the “Agreement”), made this 21st day of
December, 2001 (the “Effective Date”), is entered into by uDATE.COM, INC.
(“uDate”), a Delaware corporation, and DUANE DAHL and CINDY DAHL (collectively
the “Restricted Individuals”), individuals.

     WHEREAS, uDate and its subsidiaries and affiliates (collectively
hereinafter, the “Company”) develop and use valuable technical and
non-technical confidential and proprietary information which they desire to
protect;

     WHEREAS, the Restricted Individuals received and were exposed to
confidential and proprietary information of the Company during the course of
the Restricted Individuals’ employment with uDate; and

     WHEREAS, the Restricted Individuals agree to be bound by the provisions
and restrictions stated herein in exchange for the financial consideration to
be provided by uDate; and

     WHEREAS, the parties acknowledge that the Company maintains all of its
capital equipment and a significant portion of its operations within the State
of New Jersey and that the State of New Jersey has the most significant
contacts to the subject matter of this Agreement;

     NOW, THEREFORE, in consideration of the promises and conditions set forth
herein, the sufficiency of which is hereby acknowledged, uDate and the
Restricted Individuals agree as follows:

     1.     Term. The term of this Agreement shall run from the Effective Date for
a period of either fifteen (15) months (through and including March 31, 2003)
or twenty-seven (27) months (through and including March 31, 2004) at uDate’s
sole option and discretion. If uDate

 

 

does not give notice to the Restricted Individuals of which option it will
exercise by on or before the earlier of: (i) April 15, 2002; or (ii) within 48
hours after the closing or a Sale or Merger, as defined below, the Term shall
default to a fifteen month term (payment of the consideration required pursuant
to Sections 2(e) or 2(f) shall constitute adequate notice for these purposes).

     2.     Consideration. In exchange for the protections provided herein, uDate
agrees to pay the Restricted Individuals the following consideration:

              (a)      First Payment – uDate shall pay $5,000.00 to the Restricted
Individuals. Such payment shall be Initiated by uDate within 72 hours after
execution of this Agreement by all parties.

              (b)      Second Payment – uDate shall pay $30,000.00 to the Restricted
Individuals. Such payment shall be Initiated on the earlier of: (i) 48 hours
after the closing of a Sale or Merger, as defined below; or (ii) January 14,
2002.

              (c)      Third Payment – uDate shall pay $30,000.00 to the Restricted
Individuals. Such payment shall be Initiated on the earlier of: (i) 48 hours
after the closing of a Sale or Merger, as defined below; or (ii) February 14,
2002.

              (d)      Fourth Payment – uDate shall pay $30,000.00 to the Restricted
Individuals. Such payment shall be Initiated on the earlier of: (i) 48 hours
after the closing of a Sale or Merger, as defined below; or (ii) March 14,
2002.

              (e)      Final Payment (Fifteen Month Option) – If uDate opts for a fifteen
(15) month Term (or if the Agreement defaults to such Term pursuant to Section
1), uDate shall pay a final payment of $375,000.00 to the Restricted
Individuals. Such payment shall be Initiated on the earlier of: (i) 48 hours
after the closing of a Sale or Merger, as defined below; or (ii) April 15,
2002.

-2-

 

              (f)      Final Payment (Twenty-Seven Month Option) – If uDate opts for a
twenty-seven (27) month Term, uDate shall pay a final payment of $500,000.00 to
the Restricted Individuals. Such payment shall be Initiated on the earlier of:
(i) 48 hours after the closing of a Sale or Merger, as defined below; or (ii)
April 15, 2002. Payment under this section 2(f) shall be inclusive of the
payment under Section 2(e) and, if payment is made under this section, no
payment will be required under Section 2(e).

              (g)      “Sale or Merger” shall include any sale of all of the capital stock of
the Company or sale or other disposition of all or substantially all of the
assets of the Company in one or a series of transactions occurring after the
Effective Date, unless, immediately following such transaction(s), the
individuals and entities who were the beneficial owners of the Company’s voting
capital stock immediately prior to the Effective Date, or any of them, own
capital stock of the successor company allowing them to cast more than fifty
percent (50%) of the votes that would be entitled to be cast in an election of
directors of the successor company if such election were held immediately
following such transaction(s).

              (h)      The Restricted Individuals agree that any payment required hereunder
may be paid by the Company by wire transfer to the account of the Restricted
Individuals specified on Exhibit A hereto. In the event of the death or long
term incapacity of both Restricted Individuals, this Agreement shall be
immediately terminated.

              (i)      “Initiated” shall mean that uDate has taken all actions reasonably
necessary to commence a wire transfer.

     3.     Non-Compete, Non-Solicitation, Non-Interference. The Restricted
Individuals shall not, during the Term, in the Geographic Territory (as such
term is defined below), directly or indirectly, on his or her own behalf or on
behalf of others:

-3-

 

              (a)      as an individual proprietor, partner, stockholder, officer, employee,
director, joint venturer, promoter, sponsor, member, manager, investor, lender,
consultant, or in any other capacity whatsoever (other than as the holder of an
aggregate of not more than one percent (1%) of the total outstanding stock of a
publicly held company), engage in the business of developing, producing,
marketing, or selling products or rendering services which are directly or
indirectly competitive with products or services developed or being developed,
produced, marketed, sold, or rendered by the Company (including, but not
limited to, internet-based dating, matchmaking, and “personals” services) on or
before the Effective Date, or in any way otherwise compete with the businesses
in which the Company operates or intends to operate as of the Effective Date;
or

              (b)      recruit, solicit, or induce, or attempt to induce, any employee(s),
contractor(s), or other business associate(s) of the Company to terminate their
employment with, or otherwise cease their relationship with the Company, or
hire or engage as an independent contractor, any person who is employed or
otherwise engaged by the Company on the Effective Date or who was employed or
otherwise engaged by the Company at December 1, 2001; or

              (c)      solicit, divert, or take away, or attempt to divert or to take away,
the business or patronage of any of the clients, customers, business
associates, or accounts, or prospective clients, customers, business
associates, or accounts, of the Company which were contacted, solicited, or
served by the Company during the twelve (12) month period prior to the
Effective Date; or

              (d)      interfere with the Company’s relationships with its suppliers and
other contractors, electronic and other publishers through which it advertises,
and other persons and entities with which the Company does business, or disrupt
or interfere in any way with any

-4-

 

business relationship or prospective business relationship of which the
Restricted Individuals (or either of them) are aware; or

              (e)      engage in any preparations, plans, or other actions designed to enable
or assist him or her to take any action (whether during the Term or thereafter)
which, if such action were to be taken during the Term, would violate any
provision of this Section 3.

     4.     Proprietary and Confidential Information.

              (a)      The Restricted Individuals agree that all information, whether or not
in writing, of a private, secret, or confidential nature concerning the
Company’s business, business relationships, or financial affairs (collectively,
“Proprietary Information”) is and shall remain the exclusive property of the
Company. By way of illustration, but not limitation, Proprietary Information
may include discoveries, inventions, products, product improvements, product
enhancements, processes, methods, techniques, formulas, compositions,
compounds, negotiation strategies and positions, projects, developments, plans
(including business and marketing plans), research data, clinical data,
financial data (including sales, costs, profits, and pricing methods),
personnel data, computer programs (including software used pursuant to a
license agreement), software (including all technology owned, developed or used
by the Company), customer and supplier lists, contacts at or knowledge of
customers or prospective customers of the Company, and contacts at or knowledge
of persons or entities with which the Company does business or proposes to do
business or enter into another business relationship. Without limiting the
generality of the foregoing, the term “Proprietary Information” shall include
all Proprietary Information and other private, secret, or confidential
information concerning the Company of which Duane Dahl became aware in his
capacity as a member of the Board of Directors of uDate. The Restricted
Individuals will not disclose any Proprietary Information to any person or

-5-

 

entity other than employees of the Company or use the same for any purposes
without written approval by an executive officer of the Company, either during
or after the Term, unless and until such Proprietary Information has become
public knowledge without fault by the Restricted Individuals.

              (b)      The Restricted Individuals agree that all files, documents, letters,
memoranda, reports, records, data, sketches, drawings, models, laboratory
notebooks, program listings, computer equipment or devices, computer programs,
or other written, photographic, or other tangible material containing
Proprietary Information, whether created by the Restricted Individuals or
others, which shall come into his/her custody or possession, shall be and are
the exclusive property of the Company. The Restricted Individuals represent
that they have returned all materials containing Proprietary Information and
copies thereof to Company. The Restricted Individuals further represent only
other tangible property belonging to the Company that remains in their custody
or possession is Duane Dahl’s desktop computer, which shall be delivered to the
Company’s representative, Emily Armstrong, on Monday, December 24, 2001 at a
mutually convenient location. The Company is aware of no additional tangible
materials belonging to the Company that remain in the custody or possession of
the Restricted Individuals.

              (c)      The Restricted Individuals agree that their obligation not to disclose
or to use information and materials of the types set forth in subsections (a)
and (b) above, and their obligation to return materials and tangible property,
set forth in subsection (b) above, also extends to such types of information,
materials, and tangible property of customers of the Company or suppliers to
the Company or other third parties who may have disclosed or entrusted the same
to the Company or to the Restricted Individuals.

              (d)      The provisions of this Section 4 shall survive the Term of this
Agreement.

-6-

 

     5.     Notice of Business Activities. The Restricted Individuals agree that
during the Term they will give notice to the Board of Directors of the Company
of each new business activity one or both of the Restricted Individuals plan to
undertake, at least ten (10) business days prior to beginning any such
activity. The notice shall state the name and address of the individual,
corporation, partnership, limited liability company, association, or other
entity or organization (“Entity”) for whom such activity is undertaken and the
nature of the Restricted Individual’s business relationship and position with
the Entity. The Restricted Individuals further agree to provide the Board of
Directors of the Company with other pertinent information concerning such
business activity as the Board of Directors of the Company may reasonably
request in order to determine the Restricted Individual or Restricted
Individuals’ continued compliance with their obligations under this Agreement.
Notwithstanding the foregoing, notice under this section shall not be required
for passive investment of an aggregate of 1% or less in a publicly held
company.

     6.     Non-Disparagement. The Restricted Individuals understand and agree
that as a condition for payment to them of the consideration described in
Section 2, they shall not make any false, disparaging, or derogatory statements
to any media outlet, industry group, financial institution, or current or
former employee, consultant, client, or customer of the Company, or to any
prospective client or customer of the Company or other person or entity with
whom or with which the Company proposes to enter into a business relationship,
regarding the Company or any of its directors, officers, employees, agents, or
representatives or about the Company’s business affairs and financial
condition.

-7-

 

     7.     Reasonable Scope. The Restricted Individuals agree that the
restrictions contained in this Agreement are necessary for the protection of
the business and goodwill of the Company and are considered by the Restricted
Individuals to be reasonable for such purpose.

     8.     Enforcement.

              (a)      Injunctive Relief. The Restricted Individuals acknowledge and agree
that a breach or threatened breach of the provisions of Sections 3, 4, 5,
and/or 6 of this Agreement will result in immediate and irreparable harm to the
Company, the amount of which will be extremely difficult to ascertain, and that
the Company could not be reasonably or adequately compensated by damages in an
action at law. For these reasons, the Company shall be entitled, to the extent
permissible by law, to obtain immediate injunctive relief restraining the
Restricted Individuals from conduct in breach or threatened breach of the
covenants contained herein.

              (b)      Partial Invalidity. The invalidity or unenforceability of any
provision of this Agreement shall not affect the validity or enforceability of
any other provision of this Agreement.

              (c)      Enforcement By Affiliates. The Restricted Individuals agree that this
Agreement may be enforced by the Company or any of its affiliates.

              (d)      Interpretation. If any restriction set forth in this Agreement is
found by any court of competent jurisdiction to be unenforceable because it
extends for too long a period of time or over too great a range of activities
or in too broad a geographic area, it shall be interpreted to extend only over
the maximum period of time, range of activities, or geographic area as to which
it will be enforceable.

-8-

 

              (e)      Attorney Fees. In any action arising under or seeking to enforce or
interpret this Agreement, the prevailing party or parties shall recover
reasonable attorney fees and expenses from the party or parties that do not
prevail.

     9.     No Waiver. No delay or omission by the Company or by the Restricted
Individuals in exercising any right under this Agreement will operate as a
waiver of that or any other right. A waiver or consent given by the Company or
by the Restricted Individuals on any one occasion is effective only in that
limited instance and will not be construed as a bar to or waiver of any right
on any other occasion.

    10.     Entire Agreement; Restrictions Supplemental, Not Superseding; Other
Agreements.

              (a)      Entire Agreement. Except as expressly stated herein to the contrary,
this Agreement contains the entire understanding and agreement between the
Parties concerning the subject matter hereof and supersedes all prior
agreements, understandings, discussions, negotiations and undertakings, whether
written or oral, between the Parties with respect thereto. Notwithstanding the
foregoing, to the extent the Restricted Individuals have signed any other
agreement with the Company providing for restrictions on their activities, this
Agreement shall supplement and not supersede any such other agreement and the
Company will be afforded the greatest protections permitted pursuant to any
such agreement and applicable law.

              (b)      Other Agreements. The parties recognize their rights and obligations
under Duane Dahl’s Severance And Release Agreement, dated on or about October
5, 2001, the letter agreement for Duane Dahl from Martin Clifford dated on or
about October 5, 2001, and Cindy Dahl’s letter and Severance And Release
Agreement, dated on or about October 5, 2001. This also will clarify that on
January 15, 2002, the Company will make the payment to Duane

-9-

 

Dahl that was required to be made on or about January 15, 2002. Nothing in
this Agreement is intended to diminish or reduce the rights and obligations of
the parties under the foregoing agreements. Finally, nothing in this Agreement
is intended to diminish, reduce or otherwise alter the rights of the parties as
regards the Restricted Individuals’ ownership of shares of uDate stock or as
option holders of options to purchase uDate stock. The parties acknowledge
that a breach by either of any of the obligations and agreements identified in
this section 10(b) shall not constitute a breach under this Agreement.

     11.     Assignment. Provided uDate has first paid all due and owing payments
pursuant to Section 2 hereof, uDate may assign this Agreement to any other
corporation, individual, or entity which acquires (whether by purchase, merger,
consolidation, or otherwise) any relevant portion of the business and/or assets
of uDate, and any such corporation, individual, or entity may assign this
Agreement to any other corporation, individual, or entity that acquires
(whether by purchase, merger, consolidation, or otherwise) any relevant portion
of such corporation’s, individual’s, or entity’s business and/or assets.
Notwithstanding any assignment hereunder, uDate agrees to remain bound to make
all payments which become due and owing before or after the date on which this
Agreement is so assigned, although payment by a third party shall satisfy
uDate’s payment obligations hereunder. If this Agreement is assigned
hereunder, the Company will notify the Restricted Individuals of the name and
address to whom reports under Section 5 shall be sent after the closing date of
the transaction giving rise to the assignment.

     12.     Governing Law and Consent to Jurisdiction. This Agreement shall be
governed by, and construed in accordance with, the laws of the State of New
Jersey without regard to conflict of laws provisions. Any action or proceeding
brought by a Restricted Individual based upon, arising out of, or related to
this Agreement or the Restricted Individual’s employment with

-10-

 

the Company shall be conducted exclusively in the Federal or State courts
located in the State of New Jersey. With respect to any action or proceeding
instituted by the Company based upon, arising out of, or related to this
Agreement or a Restricted Individual’s employment with the Company, the
Restricted Individuals irrevocably consent to the jurisdiction of any Federal
or State court located in the State of New Jersey and waive any right to change
or challenge venue of any such proceeding or action.

     13.     Geographic Territory. The parties acknowledge and agree (1) that
uDate offers an internet-based service available to person worldwide, (2) that
one of uDate’s competitive advantages is its geographic scope, and (3) that
this Agreement is intended to cover any territory and all territories where the
Company does business, has done business, or intended to do business on the
last day of Duane Dahl’s employment with uDate. Accordingly, the term
“Geographic Territory” shall mean any country anywhere in the world and all
countries throughout the world.

     14.     Prohibitions Individual. Each of the provisions of this Agreement
shall bind each of the Restricted Individuals individually as well as jointly.
Without limiting the generality of the foregoing, neither Restricted
Individual, directly or indirectly, on his or her own behalf or on behalf of
others, may take any of the actions prohibited by Section 3.

     15.     Headings. The descriptive headings of the several paragraphs of this
Agreement are inserted for convenience of reference only and shall not
constitute a part of this Agreement.

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

*************

INENTIONALLY LEFT BLANK

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     IN WITNESS WHEREOF, the Company and the Restricted Individuals caused this
Agreement to be signed, all as of the date first written above.

	 	 	 
	 	 	
uDATE.COM, INC.
	 
	 	 	
By:  /s/ Martin Clifford

Name:  Martin Clifford

Title:  Chief Operating Officer
	 
	/s/ Carol Greene

WITNESS	 	
/s/ Duane Dahl        12/21/01

DUANE DAHL, individually
	 
	/s/ Carol Greene

WITNESS	 	
/s/ Cindy Dahl        12/21/01

CINDY DAHL, individually

-12-

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