Document:

Exhibit 10.12

 

 

 

May 9, 2005

 

Mr. Scott Wolf

19 Jessica Way

Wayne, NJ

 

Dear Scott:

 

On behalf of Waterfront Media, Inc. (the “Company”),
we are pleased to offer you the position of Senior Vice President of Advertising Sales reporting to Michael Keriakos, Waterfront
Media’s Founder and Executive Vice President. The terms of your employment relationship with the Company will be set forth
below.

 

Compensation. Your start date will be Monday,
June 6, 2005 and annualized base compensation will be $225,000. Additionally, you are eligible to receive additional
compensation of up to $150,000 and $175,000 during your first (June 6, 2005 – June 5, 2006) and second (June 6, 2006
– June 5, 2007) full years’ of employment, respectively (“Additional Variable Compensation”). The
performance metrics for earning Additional Variable Compensation will be finalized (with your input) by Michael Keriakos, but
will include, among other items, advertising revenue targets for calendar years 2005 and 2006 of $5.5 million and $10 - $12
million, respectively, subject to inventory adjustments. The advertising revenue targets related to the 2007 portion of your
Additional Variable Compensation will be determined at an appropriate time.

 

As an employee of the Company, you will be eligible for the
comprehensive benefits package that we offer to our regular full time employees starting from your date of employment. Details
of this package will be reviewed with you in your first week of employment.

 

Equity. You will receive 100,000 stock options to purchase
Waterfront common stock, with the first 25% vesting on your first anniversary date and the balance-vesting monthly thereafter
over the next 36 months. The Board determines the strike price of all options, which is currently $1.50.

 

In the event of a change of control transaction, as defined
in your option agreement:

	•	If within the first 12 months of your employment – 25% vesting acceleration
	•	If after the first 12 months of your
    employment – 50% vesting acceleration
	•	100% acceleration if the change in control results in your termination

 

Business Expenses. All approved business expenses will
be reimbursed, following submission of an approved expense report approved by your manager.

 

Vacation. You will be eligible for all National Holidays
as well as three (3) weeks of vacation in your first year.

    	 

    	

    

Non-Disclosure and Developments Agreement. Like all
Company employees, you will be required to sign the Company’s standard “Agreement to Protect Information, Assign Inventions,
and Prevent Unfair Competition and Unfair Solicitation” as a condition of employment. In addition, you will be required
to abide by the Company’s strict policy that prohibits any new employee from using or bringing with him or her from any previous
employer any confidential information, trade secrets, or proprietary materials or processes of such former employer.

 

At-Will Employment. This letter does not constitute
a guarantee of employment or an employment contract for any specified period of time. You will be an employee-at-will, meaning
that either you or the Company may terminate your employment relationship at any time, without notice, for any reason or no reason.

 

Severance. If you are terminated without cause at any
time within the first two years of your employment you will receive 6 months severance. This also applies if there is a change
of control and your reporting structure/role is reduced as a result.

 

Federal Immigration Law. For purposes of federal immigration
law, you are required to provide to the Company documentary evidence of your identity and eligibility for employment in the United
States. Such documentation has been provided previously; if your employment eligibility has changed, new documentation must be
provided to us within three (3) business days of your commencement date, or our employment relationship with you may be terminated.

 

Scott, we are pleased that you are joining our team to work
with us to help the Company reach its full potential. Please confirm your acceptance of this offer by signing and returning one
copy of this letter.

 

Sincerely,

 

	Ben Wolin	Michael Keriakos
	Founder and CEO	Founder and EVP
	Waterfront Media	Waterfront Media

 

The foregoing terms and conditions are hereby accepted:

 

	Employee Signature: 	/s/ Scott Wolf	 
	 	 	 
	Print Name:	Scott Wolf	 
	 	 	 
	Date:	5/11/05Exhibit 10.12.1

 

 

 

January 21, 2014

 

Scott Wolf

19 Jessica Way

Wayne, NJ 07470

 

Dear Scott,

 

Upon your hiring by Everyday Health (f/k/a Waterfront Media)
(the “Company”), you and the Company executed an employment letter, dated May 9, 2005 (the “Employment Letter”).
You and the Company hereby agree to amend certain of the terms and conditions contained in the Employment Letter as set forth
below:

 

Severance. If the Company terminates your employment
without Cause (as defined below), and other than as a result of your death or disability, and provided such termination constitutes
a “separation from service” (as defined under Treasury Regulation Section 1.409A-1(h)), then subject to your obligations
below, the Company will pay to you as severance, an amount equal to twelve (12) months of your then-current base salary (which
is hereby increased from nine (9) months of your then-current base salary) (the “Severance Benefits”), less applicable
taxes. The Severance Benefits are conditional upon (a) your continuing to comply with your obligations under your Agreement to
Protect Information, Assign Inventions, and Prevent Unfair Competition and Unfair Solicitation (the “Confidentiality Agreement”)
during the period of time in which you are receiving the Severance Benefits and (b) your delivering to the Company an effective,
general release of claims in favor of the Company in a form reasonably acceptable to the Company within 30 days following your
termination date. The Severance Benefits will be paid as salary continuation on the Company’s regular payroll schedule over
the twelve-month period immediately following your termination date, and will be subject to applicable tax withholdings; provided,
however, that no payments will be made prior to the 30th day following your termination date. On the 30th
day following your termination date, the Company will pay you in a lump sum the Severance Benefits that you would have received
on or prior to such date under the original schedule but for the delay while waiting for the effectiveness of the release, with
the balance of the Severance Benefits being paid as originally scheduled.

 

For purposes of this letter, “Cause” means (A) you
performing a willful or intentional act that materially injures the reputation or business of the Company or any of its subsidiaries
or affiliates; (B) your conviction (including a guilty plea or a no contest plea) of a felony, or of any other crime involving
fraud, dishonesty or moral turpitude; (C) your commission or attempted commission of or participation in a fraud or act of material
dishonesty against the Company; (D) your material breach of any written agreement between you and the Company (including but not
limited to your Confidentiality Agreement) or material breach or neglect of any statutory or fiduciary duty you owe to the Company;
or (E) your conduct that constitutes gross insubordination, incompetence or habitual neglect of your duties, as determined by
the Company.

 

345 Hudson St. 16th Floor | New York, NY 10014

    	 

    	

    

It is intended that all of the Severance Benefits payable under
this letter satisfy the exemption from the application of Code Section 409A provided under the Treasury Regulations 1.409A-1(b)(9) and this letter will be construed consistent with those provisions.

 

Except as specifically addressed in this letter, all terms
and conditions contained in the Employment Letter shall remain in full force and effect. Please confirm your acceptance of the
Employment Letter, as modified hereby, by signing and returning one copy of this letter.

 

Sincerely,

 

	Everyday Health	 
	 	 	 
	By:	/s/ Jon A. Glass	 
	 	Name: 	Jon A. Glass	 
	 	Title:	EVP, CHRO	 

 

The foregoing terms and conditions are hereby
accepted:

 

	/s/ Scott
    Wolf	 
	Scott Wolfpzza8kex101022414-2.htm

 

		 	 	

 

Pizza Inn Holdings, Inc.

 

 

February 19, 2014

 

Donna Lee

2909 Sunrise Dr, 

Rowlett, TX 75088

 

Dear Donna:

 

Pizza Inn, Inc. (the "Company") is pleased to extend to you an offer of employment as Controller, reporting directly to Chief Financial Officer, which would begin on or around February 24, 2014. Below are the general terms and conditions of our offer.

 

BASE PAY

 

Your annual base pay ("Base Annual Salary") in this exempt position will be $120,000.00, to be paid bi-weekly during your employment with the Company and subject to all applicable withholdings. You will be paid the gross amount of $4,615.38, on every other Friday, in accordance with the Company's standard payroll practice.

 

BONUS

 

In addition to your Base Annual Salary, you will be eligible to participate in the Company's Bonus Plan, which is typically based on the Company's financial performance and strategic goals relative to targets set by the Board of Directors. The amount of bonus earned is subject to the approval of the Board of Directors, which may use its discretion to interpret the Company's achievement of the bonus targets and take in to consideration unusual, one-time, or forward-looking factors that affected the Company's historical results or may affect the Company's future prospects. The annual bonus targets generally shall be set such that you shall earn a bonus of up to 20% of your base salary upon achievement of certain financial and strategic bonus targets and upon the discretion of the Chief Executive Officer and Compensation Committee of the Company.

 

BENEFITS

 

You will be eligible to participate in Pizza inn, Inc. employee benefit plans, subject to any waiting or qualification periods imposed by the Company or its benefit providers. Detailed information regarding employee benefits will be provided on your first day of employment. You will also have 40 hours of paid time off (Vacation Hours), available upon your start date which will need to be used prior to your anniversary date in 2015.

 

AT-WILL EMPLOYMENT

 

It is anticipated that you will be a long-term employee. However, like all employees of the Company, your employment with the Company is for no specified period and constitutes "at-will" employment, and either you or the Company may terminate your employment at any time with or without cause. Notwithstanding the above, Pizza Inn, Inc. may terminate this employment relationship immediately if you are involved in any one of the following ("Cause Events"): (i) any action which constitutes willful dishonesty, insubordination or deliberate injury to Pizza Inn, Inc., or (ii) any criminal conduct, or (iii) a violation of or other failure by you to perform your obligations or responsibilities under this agreement, or (iv) a serious violation of any Pizza Inn, Inc. company policy or procedure as they may be defined from time to time. No representative of the Company has the authority to enter into any agreement with you guaranteeing employment for any specified period of time or modifying the at-will relationship, unless it is done so in writing and signed by you and the Chief Executive Officer. This letter is an offer of employment and not a contract of employment.

 

3551 Plano Parkway, The Colony, TX '75056, 1-800-880-9955

 

 

  

  

  

		 	 	

 

Pizza Inn Holdings, Inc.

 

RETURN OF MATERIALS

 

By accepting this offer, you agree that upon termination of your employment with Pizza Inn, Inc. all documents, property, software, materials, information and other records of the Company, and all copies thereof, within your possession, custody or control, including but not limited to any materials containing trade secrets or confidential information of Pizza Inn, Inc. must be returned to Pizza Inn, Inc. at or prior to the date of termination.

 

TRADE SECRETS/CONFIDENTIALITY

 

By accepting this offer, you agree not to disclose any trade secrets or confidential information of Pizza Inn, Inc. to anyone else and to hold this information in confidence and use it solely on a need -to-know basis in the course of performing services for Pizza Inn, Inc. Except in the performance of services for Pizza Inn, Inc., you will not reproduce, distribute, transmit, reverse engineer, decompile, disassemble, or transfer, directly or indirectly, in any form, or for any purpose, any trade secrets, or confidential information of Pizza Inn, Inc. The obligations of this paragraph shall continue during the term of your employment with Pizza Inn, Inc. and (i) with respect to trade secrets, for so long as such information constitutes a trade secret under applicable law, and (ii) with regard to confidential information, for a period of three (3) years after termination of employment for any reason. As used in this letter agreement, "trade secrets" mean information of Pizza Inn, Inc., its affiliates, licensors, suppliers, customers, or prospective licensors or customers, which include technical or non-technical data, formulas, patterns, compilations, programs, devices, methods, techniques, drawings, processes, financial data, financial plans, product plans, and a list of actual or potential customers or suppliers, which are held in confidence by Pizza Inn, Inc. and have economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by others. As used herein, "confidential information" means information, other than trade secrets, that is of value to Pizza Inn, Inc. and is treated as confidential.

 

COVENANT NOT TO COMPETE

 

By accepting this offer, you agree that for a period of twelve (12) months immediately following termination of your employment with Pizza Inn, Inc. for any reason, (i) you will not on behalf of yourself or any other business entity call upon, contact or solicit any client or customer of Pizza Inn, Inc. with whom you had contact within six (6) months preceding your last day of employment with Pizza Inn, Inc.; and (ii) you will not call upon, solicit, recruit, or assist others in calling upon, recruiting or soliciting any person who is or was an employee of Pizza Inn, Inc. within the six (6) months immediately preceding your last day of employment with pizza Inn, Inc., in an attempt to have such person work in any other corporation, association, or entity or business engaged in the business of the same kind as offered by Pizza Inn, Inc.

 

INTELLECTUAL PROPERTY

 

By accepting this offer, you agree that all materials, information, plans, and other works of authorship created or developed by you for Pizza Inn, Inc. during the course of your employment by Pizza Inn, Inc. will be owned solely and exclusively by Pizza inn, Inc., and constitute works made for hire. In this regard, you will assign to Pizza Inn, Inc. all worldwide rights, including all copyrights, patent rights, trade secrets, confidential and proprietary information rights, moral rights, and other property rights.

 

3551 Plano Parkway, The Colony, TX '75056, 1-800-880-9955

 

 

  

  

  

	 	 	 	

 

Pizza Inn Holdings, Inc.

 

 

EMPLOYMENT WITH PIZZA INN, INC. WOULD NOT VIOLATE ANY EXISTING AGREEMENT

 

By accepting this offer, you warrant to Pizza Inn, Inc. that your employment by Pizza Inn, Inc. does not violate any existing agreement between you and any third party, nor will your employment with Pizza Inn, Inc. constitute a violation of any confidentiality or nondisclosure agreement in existence with another party.

 

GENERAL

 

This offer letter sets forth the terms of your employment with the Company and supersedes any and all prior representations and agreements, whether written or oral. This offer of employment is conditional upon your passing the pre-employment background screening and reference checks, and remains valid until February 20, 2014. Unless we receive this letter executed by you on or before this Expiration Date, the offer of employment will expire.

 

Please mail, or scan/email the signed offer letter to:

 

Pizza Inn, Inc.

Attention: Katy McGee 

3551 Plano Parkway The Colony, TX 75056

 

Email: KMcGee@pihq.com

 

Counterparts: This Agreement may be executed in one or more original or facsimile counterparts, all of which shall be considered but one and the same agreement, and shall become effective when one or more such counterparts have been executed by each of the parties and delivered to the other parties.

 

Should you have any questions about this letter, please feel free to contact me directly. We look forward to having you join our team, as well as the contribution you will make to the organization.

 

Sincerely,

 

/s/ Katy McGee

Katy Mcgee, PHR

Vice resident, Human Resources

 

AGREED TO AND ACCEPTED BY:

 

/s/ Donna Lee

Name Signed

 

Donna Lee

Name Printed

 

2/19/14

Date

 

 

3551 Plano Parkway, The Colony, TX '75056, 1-800-880-9955

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