Document:

Exhibit 10.8

 

SOLSTICE HOLDINGS LLC

RETENTION AND INCENTIVE EQUITY COMPENSATION
PROGRAM

 

IIAP Award Agreement

 

 

WHEREAS, Solstice Holdings LLC, a Delaware limited liability company
(the “Company”), has established the Solstice Holdings LLC Retention and
Incentive Equity Compensation Program (the “RIECP” or the “Program”),
effective as of March 8, 2006, to assist in attracting key employees of or
on behalf of CenterPoint Properties Trust, a Maryland real estate investment
trust and a Subsidiary of the Company (“CenterPoint”), and to provide
the Grantee with long-term incentives and rewards for superior performance and
maximizing shareholder value;

 

WHEREAS, the Initial Incentive Award Plan (the “IIAP”) is a
component of the Program governing the grant of restricted Unvested Class A
Units to key employees of CenterPoint;

 

WHEREAS, the IIAP provides for the one-time grant of restricted
Unvested Class A Units in lieu of any share options, restricted shares
and/or performance units that CenterPoint may have awarded to its
employees in 2006 for CenterPoint’s fiscal year 2005 performance;

 

WHEREAS,                             (the
“Grantee”) is an employee of CenterPoint and
has made and is expected to continue to make major contributions to the
short-term and long-term profitability, growth and financial strength of
CenterPoint;

 

WHEREAS, CenterPoint, the Company and the Grantee are parties to an
employment agreement dated March       ,
2006 (the “Employment Agreement”);

 

WHEREAS, the execution of this IIAP Award Agreement in the favor of the
Grantee in the form hereof (this “Agreement”) has been authorized
by a resolution of the Board or, as authorized by the Board, the Committee that
was duly adopted effective as of
                 
(the “Date of Grant”).

 

NOW, THEREFORE, subject to the terms and conditions of the Program, the
Operating Agreement and as hereinafter set forth, the Company hereby grants to
the Grantee                     
restricted Unvested Class A Units (the “Initial Unvested Class A
Units”).

 

1.                                       Vesting
of the Initial Unvested Class A Units.

 

(a)                                  Subject to the terms
and conditions of the Operating Agreement and this Section 1, and provided
that the Grantee remains in the continuous employ of CenterPoint, the Grantee’s
Initial Unvested Class A Units awarded hereunder will be treated as
Unvested Class A Units prior to the fifth (5th) anniversary of the
Effective Date, and on and after such date, the Grantee’s Initial Unvested Class A
Units will be treated as Vested Class A Units.

 

 

(b)                                 Notwithstanding the
provisions of Section 1(a) hereof, upon termination of the Grantee’s
employment, the Grantee’s Initial Unvested Class A Units awarded under
this Agreement shall be subject to the vesting, forfeiture and other conditions
as specified in the Grantee’s Employment Agreement. For purposes of the terms
and conditions of the Operating Agreement, any of the Grantee’s Initial
Unvested Class A Units that vest pursuant to the terms of the Grantee’s
Employment Agreement will be treated as Vested Class A Units and the total
number of Unvested Class A Units will be equal to zero (0). Except as
provided in this Section 1(b), all remaining Initial Unvested Class A
Units awarded hereunder shall be immediately forfeited, will not be treated as
either Vested Class A Units or Unvested Class A Units for purposes of
this Agreement or the terms and conditions of the Operating Agreement, will not
be entitled to any further payments or Distributions and will have no further
rights under the Program with respect to such Initial Unvested Class A
Units.

 

(c)                                  Notwithstanding the
provisions of Section 1(a) hereof, in the event of a Change in
Control (as defined in the Grantee’s Employment Agreement) prior to termination
of the Grantee’s employment, all of the Grantee’s Initial Unvested Class A
Units awarded hereunder shall immediately vest and become nonforfeitable.

 

(d)                                 Notwithstanding any of
the provisions of Section 1 hereof and in accordance with the Program, the
Board may accelerate the vesting of the Grantee’s Initial Unvested Class A
Units awarded hereunder in connection with the termination of the Grantee’s
employment.

 

(e)                                  The Grantee’s Vested Class A
Units, if any, shall be subject to the terms and conditions of the Operating
Agreement and the put/call rights or required sale rights, as applicable, set
forth in the Grantee’s Employment Agreement.

 

2.                                       Distributions.

 

(a)                                  During Employment.
Provided that the Grantee remains in the continuous employ of CenterPoint, the
Grantee shall be eligible to receive such Grantee’s allocable share of
Distributions with respect to the Initial Unvested Class A Units awarded
hereunder, and such units that become Vested Class A Units as and when
provided for hereunder and under the Operating Agreement based on the Grantee’s
Class A Sharing Percentage.

 

(b)                                 Following
Termination of Employment. Following the termination of the Grantee’s
employment with CenterPoint for any reason, the Grantee shall be eligible to
continue to receive such Grantee’s allocable share of Distributions with
respect to the Grantee’s Vested Class A Units as and when provided under
the Operating Agreement based on the Grantee’s Class A Sharing Percentage.
The Grantee’s Vested Class A Units shall continue to be subject to the
terms and conditions of the Operating Agreement. The Grantee will not be
entitled to any further payments or Distributions with respect to any Initial
Unvested Class A Units and will have no further rights under the Program
or the Operating Agreement with respect to such Initial Unvested Class A
Units.

 

2

 

3.                                       Transferability.
Except as provided in the Operating Agreement, the Grantee’s rights under the
Initial Unvested Class A Units shall not be transferable by the Grantee
without the prior Approval of the Board (or as delegated by the Board, the
Committee) and any attempted transfer without such Approval shall be void ab initio.

 

4.                                       Operating
Agreement. The Grantee acknowledges and agrees that the Initial Unvested Class A
Units awarded hereunder, and any that become Vested Class A Units, are
subject to the terms and conditions of the Operating Agreement. The Grantee
further acknowledges and agrees that, to the extent Grantee has not already
executed the Operating Agreement or an addendum thereof, the Grantee will be
required to sign the addendum to the Operating Agreement, attached hereto as Exhibit A,
agreeing to be bound by the terms and conditions of the Operating Agreement as
a condition to receiving the Initial Unvested Class A Units awarded
hereunder.

 

5.                                       Compliance
with Law. The Company shall comply with all applicable laws and regulations
of any duly constituted authority having jurisdiction over the issuance of the
Initial Unvested Class A Units to Grantee as contemplated herein; provided,
however, that notwithstanding any other provision of this Agreement, the
Company shall not be obligated to issue any Initial Unvested Class A Units
hereunder if the issuance thereof would result in a violation of any such law
or regulation.

 

6.                                       Withholding
Taxes.

 

(a)                                  To
the extent that the Company or CenterPoint is required to withhold federal,
state, local or foreign taxes in connection with any issuance or transfer
hereunder of Initial Unvested Class A Units to the Grantee or to the
Grantee’s Beneficiary, as the case may be, it shall have the right to
require the Grantee or the Grantee’s Beneficiary to remit to CenterPoint or the
Company an amount sufficient to satisfy all federal, state and local
withholding tax requirements in connection with any payment made or benefit
realized by the Grantee or the Grantee’s Beneficiary in connection with this
award. The Board may make mutually agreed-upon arrangements with the
Grantee or the Grantee’s Beneficiary for the satisfaction of such withholding
liability, which may include, but not be limited to, the relinquishment of
any Initial Unvested Class A Units.

 

(b)                                 If
the Company or CenterPoint is obligated to pay any amount to a governmental
agency (or otherwise makes a payment to a governmental agency) because of (A) the
Grantee’s status or otherwise specifically attributable to the Grantee in his
or her capacity as a Grantee with respect to federal, state or local
withholding taxes imposed with respect to (i) any issuance of Class A
Units to the Grantee by the Company under this award or (ii) any payments
to the Grantee or (B) the Grantee’s breach of the Operating Agreement or
violation of any law, rule or regulation in his, her or its capacity as a
Grantee, then the Company shall reduce the Distributions that would otherwise be
made to such Grantee or if such Distributions are insufficient to pay such
obligation such Grantee shall, to the fullest extent permitted by law,
indemnify the Company in full for the entire amount paid (including, without
limitation, any interest, penalties and expenses associated with such
payments).

 

3

 

7.                                       Continuation
of Employment. Neither this Agreement nor any action taken hereunder shall
be construed as giving the Grantee any right to continued employment with
CenterPoint, nor shall this Agreement or any action taken hereunder be
construed as entitling CenterPoint to the services of the Grantee for any
period of time. For the purposes of this Agreement, the continuous employment
of the Grantee with CenterPoint shall not be deemed interrupted, and the
Grantee shall not be deemed to have ceased to be employed CenterPoint by reason
of the transfer of his employment among CenterPoint, the Company or a
Subsidiary or Affiliate of CenterPoint or of the Company which adopts the
Program.

 

8.                                       Limited
Rights. Except as otherwise provided in the Operating Agreement and the
Grantee’s Employment Agreement, the granting of Initial Unvested Class A
Units hereunder shall not confer upon the Grantee any right to participate in
the management of the business and affairs of the Company or any Subsidiary or
Affiliate of the Company. The granting of Initial Unvested Class A Units
hereunder shall confer upon the Grantee only those rights set forth in the
Operating Agreement, the Program, the Grantee’s Employment Agreement and this
Agreement.

 

9.                                       Unfunded
Plan. The Program shall be unfunded and shall not create (or be construed
to create) a trust or separate fund.

 

10.                                 Amendments.
Any amendment to the Program shall be deemed to be an amendment to this
Agreement to the extent that the amendment is applicable hereto; provided,
however, that no amendment shall adversely affect the rights of the
Grantee hereunder under any Class A Units without the Grantee’s consent.

 

11.                                 Assignment.
This Agreement shall be binding upon, and shall inure to the benefit of the
Company and any successor. The Company may assign and transfer this
Agreement, and delegate its duties hereunder, to a Subsidiary of CenterPoint or
the Company.

 

12.                                 Severability.
In the event that one or more of the provisions of the Program or this
Agreement becomes invalid, illegal or unenforceable in any jurisdiction, or
would disqualify the Program, this Agreement or the Initial Unvested Class A
Units under any law deemed applicable by the Board, the Board shall replace
each invalid, illegal or unenforceable provision with a valid, legal and
enforceable provision which will most nearly and equitably satisfy the economic
effect of the invalid, illegal or unenforceable provision.

 

13.                                 Governing
Law. This Agreement is made in, and shall be construed in accordance with,
the laws of the State of Delaware.

 

14.                                 Agreement
Subject to Program. The Initial Unvested Class A Units granted under
this Agreement and all of the terms and conditions hereof are subject to all of
the terms and conditions of the Program. In the event of any inconsistency
between this Agreement and the Program, the terms of the Program will govern.

 

15.                                 Capitalized
Terms. Capitalized terms used herein and not otherwise defined herein have
the meanings assigned to such terms in the Program or to the extent not defined
in the Program, in the Operating Agreement.

 

4

 

This Agreement is hereby executed by the
Company on this               
day of                     ,
20    .

 

	
   

  	
  SOLSTICE HOLDINGS LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Its:

  	
   

  	
   

  
				

 

 

This Agreement is hereby executed by the
undersigned Grantee this                       
day of                   
20    . The Grantee hereby acknowledges receipt of an
executed original of this Agreement and accepts this award of Initial Unvested Class A
Units, subject to the terms and conditions of the Program, the Operating
Agreement and the terms and conditions set forth above. The
Grantee further acknowledges and agrees that, to the extent Grantee has not
already executed the Operating Agreement or an addendum thereof, the Grantee
will be required to sign the addendum to the Operating Agreement, attached
hereto as Exhibit A, agreeing to be bound by the terms and conditions of
the Operating Agreement as a condition to receiving the Initial Unvested Class A Units awarded hereunder.

 

	
   

  	
   

  	
   

  
	
   

  	
  Grantee

  
	
   

  	
   

  
	
   

  	
  Date:Exhibit 10.22

 

SEPARATION
AGREEMENT AND MUTUAL RELEASE

 

This Settlement Agreement
and Mutual Release (“Agreement”) is
made by and between NetRatings, Inc. (the “Company”)
and George Durney (“Employee”).

 

WHEREAS, Employee was
employed by the Company;

 

WHEREAS, in exchange for
the severance and other benefits provided for herein, Employee has agreed to
the terms and conditions of this Agreement and to release the Company from any
and all claims arising from or related to the employment relationship;

 

NOW THEREFORE, in
consideration of the mutual promises made herein, the Company and Employee
(collectively referred to as the “Parties”)
hereby agree as follows:

 

1.                                       Termination.
Employee’s employment with the Company is terminated effective as of January 1,
2006 (the “Effective Date”)

 

2.                                       Company
Payments and Benefits.

 

(a)                                  Upon
the Effective Date, the Company will pay (or will have already paid) to
Employee all salary, wages, bonuses, accrued vacation, commissions and expenses
incurred on behalf of the Company and any and all other benefits due to
Employee through the Effective Date. Employee acknowledges and represents that
the Company has paid all salary, wages, bonuses, accrued vacation, commissions
and any and all other benefits due to the Employee as of the Effective Date.
Notwithstanding the foregoing, the parties agree and acknowledge that (i) the
commissions owed to Employee for the fourth quarter of 2005 and (ii) the
reimbursement of expenses incurred by Employee during December 2005 shall
be paid by Company by January 31, 2006.

 

(b)                                 In
consideration of the mutual promises and agreements described herein, the
Company will provide the following to Employee: (i) the Company shall make
a lump sum payment to Employee in the amount of $87,550.00 (which is equal to
six months of base salary), less applicable taxes and withholding amounts,
within five business days after the revocation period indicated in paragraph 5
of this Agreement has expired;  (ii) The
Company shall make a lump sum payment to Employee in the amount of
$47,277.00  (90% of the bonus target)
less applicable taxes and withholding amounts on the same day that the bonus
payments are made to the Company’s employees; (iii) in the event that the
company achieves profitability for the fourth quarter of 2005, calculated on an
EBITDA basis and evidenced by the publication of the Company’s financial
results press release previously approved by the Company’s Audit Committee,
Employee will receive a net issuance of one-third of the restricted shares
granted to Employee in the 2005  at the
same time as the US-based executives receive their net issuance of restricted
shares; (iv) following the expiration of the revocation period indicated
in paragraph 5 of this Agreement and continuing until 90 days after the Effective
Date, Employee shall be entitled to exercise any and all stock options that
would have vested between the Effective Date and June 30, 2006; (v) following
the expiration of the revocation period indicated in paragraph 5 of this
Agreement, the Company shall pay for healthcare coverage for Employee and his
immediate family pursuant to COBRA through June 30, 2006;  and (vi) following the expiration of the
revocation period indicated in paragraph 5 of this Agreement, Employee shall be
entitled to retain the laptop computer used by Employee following the transfer
to the Company of all Company materials. From and after the Effective Date,
Employee will not be entitled to accrual of any employee benefits, including
but not limited to, vacation benefits or bonuses, and Employee will not
participate in any executive incentive compensation or bonus plan, or any other
officer or employee compensation program.

 

 

3.                                       Confidential
Information and Noncompetition. Employee agrees and acknowledges that
Sections 1, 2, 3 and 4 of the Employee Nondisclosure, Noncompetition and
Invention Assignment Agreement, dated April 19, 1999 (the “Nondisclosure
Agreement”), are binding on Employee, and Employee shall comply with all of the
terms of Sections 1, 2, 3 and 4 of the Nondisclosure Agreement. Employee
represents to the Company that Employee has returned to the Company all of the
Company property and confidential and proprietary information in his possession
as of the Effective Date.

 

4.                                       Release
of Claims. Employee agrees that the foregoing consideration represents
settlement in full of all outstanding obligations owed to Employee by the
Company. Employee and the Company, on behalf of themselves, and their
respective heirs, family members, executors, officers, directors, employees,
investors, shareholders, administrators, affiliates, divisions, subsidiaries,
predecessor and successor corporations, and assigns, hereby fully and forever
release each other and their respective heirs, family members, executors,
officers, directors, employees, investors, shareholders, administrators,
affiliates, divisions, subsidiaries, predecessor and successor corporations,
agents, and assigns, from, and agree not to sue concerning, any claim, duty,
obligation or cause of action relating to any matters of any kind, whether
presently known or unknown, suspected or unsuspected, that any of them may possess
arising from any omissions, acts or facts that have occurred up until and
including the Separation Date including, without limitation,

 

(a)                                  any and all claims relating to or arising from Employee’s
employment relationship with the Company and the termination of that
relationship;

 

(b)                                 any
and all claims relating to, or arising from, Employee’s right to receive,
exercise or purchase, or actual receipt, exercise or purchase of, equity in the
Company, including, without limitation any claims for fraud, misrepresentation,
breach of fiduciary duty, breach of duty under applicable state corporate law,
and securities fraud under any state or federal law;

 

(c)                                  any
and all claims for wrongful discharge of employment; termination in violation
of public policy; discrimination; breach of contract, both express and implied;
breach of a covenant of good faith and fair dealing, both express and implied;
promissory estoppel; negligent or intentional infliction of emotional distress;
negligent or intentional misrepresentation; negligent or intentional
interference with contract or prospective economic advantage; unfair business
practices; defamation; libel; slander; negligence; personal injury; assault;
battery; invasion of privacy; false imprisonment; and conversion;

 

(d)                                 any
and all claims for violation of any federal, state or municipal statute,
including, but not limited to, Title VII of the Civil Rights Act of 1964, the
Civil Rights Act of 1991, the Age Discrimination in Employment Act of 1967, the
Americans with Disabilities Act of 1990, the Fair Labor Standards Act, the
Employee Retirement Income Security Act of 1974, The Worker Adjustment and
Retraining Notification Act, Older Workers Benefit Protection Act; the
California Fair Employment and Housing Act, and Labor Code section 201, et seq. and section 970, et seq.,
the New York Human Rights Law, as amended, Rev.
Code of Wash. Ch. 49.60.010 et seq.;

 

(e)                                  any and all claims for violation of the federal, or any
state, constitution;

 

(f)                                    any and all claims arising out of any other laws and
regulations relating to employment or employment discrimination;  and

 

(g)                                 any and all claims for attorneys’ fees and costs.

 

 

The Company and Employee
agree that the release set forth in this section shall be and remain in
effect in all respects as a complete general release as to the matters released.
This release does not extend to any obligations incurred under this Agreement. Employee acknowledges and agrees that any
breach of this paragraph shall constitute a material breach of the Agreement
and in the case of a breach by Employee, shall entitle the Company immediately
to recover the monetary consideration discussed in paragraph 2 above. Employee
shall also be responsible to the Company for all costs, attorneys’ fees and any
and all damages incurred by the Company (a) enforcing the obligation,
including the bringing of any suit to recover the monetary consideration, and (b) defending
against a claim or suit brought or pursued by Employee in violation of this
provision.

 

5.                                       Acknowledgment
of Waiver of Claims under ADEA. Employee acknowledges that he is waiving
and releasing any rights he may have under the Age Discrimination in Employment
Act of 1967 (“ADEA”) and that this waiver and release is knowing and voluntary.
Employee and the Company agree that this waiver and release does not apply to
any rights or claims that may arise under the ADEA after the Separation
Date of this Agreement. Employee acknowledges that the consideration given for
this waiver and release Agreement is in addition to anything of value to which
Employee was already entitled. Employee further acknowledges that s/he has been
advised by this writing that (a) he should consult with an attorney prior
to executing this Agreement; (b) he has forty-five (45) days within which
to consider this Agreement; (c) he has seven (7) days following the
execution of this Agreement by the parties to revoke the Agreement; and (d) this
Agreement shall not be effective until the revocation period has expired. Any
revocation should be in writing and delivered to the Company’s General Counsel
at NetRatings, 120 West 45th Street, 35th Floor, New York
NY 10036, by close of business on the seventh day from the date that Employee
signs this Agreement.

 

6.                                       Civil
Code Section 1542. The Parties represent that they are not aware of
any claim by either of them other than the claims that are released by this
Agreement. Employee and the Company acknowledge that they have been advised by
legal counsel and are familiar with the provisions of California Civil Code Section 1542,
which provides as follows:

 

A GENERAL RELEASE DOES
NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN
HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HER MUST HAVE
MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR.

 

Employee and the Company, being aware of said code
section, agree to expressly waive any rights they may have thereunder, as
well as under any other statute or common law principles of similar effect.

 

7.                                       No
Pending or Future Lawsuits. Employee represents that s/he has no lawsuits,
claims, or actions pending in his/her name, or on
behalf of any other person or entity, against the Company or any other person
or entity referred to herein. Employee also represents that s/he does not
intend to bring any claims on his/her own behalf or on behalf of any other
person or entity against the Company or any other person or entity referred to
herein.

 

8.                                       No
Cooperation. Employee agrees s/he will not act in any manner that might
damage the business of the Company. Employee agrees that s/he will not counsel
or assist any attorneys or their clients in the presentation or prosecution of
any disputes, differences, grievances, claims, charges, or complaints by any
third party against the Company and/or any officer, director, employee, agent,
representative, shareholder or attorney of the Company, unless under a subpoena
or other court order to do so.

 

 

9.                                       Non-Disparagement.
Each Party agrees to refrain from any defamation, libel or slander of the other, or tortuous interference with the contracts and
relationships of the other. All inquiries by potential future employers of
Employee will be directed to the Company’s Human Resources Department. Upon
inquiry, unless otherwise agreed to by the Company and Employee, the Company
shall only state the following:  Employee’s
last position and dates of employment.

 

10.                                 No
Admission of Liability. The Parties understand and acknowledge that this
Agreement constitutes a compromise and settlement of any and all disputed
claims. No action taken by the Parties hereto, or either of them, either
previously or in connection with this Agreement shall be deemed or construed to
be (a) an admission of the truth or falsity of any claims heretofore made
or (b) an acknowledgment or admission by either Party of any fault or
liability whatsoever to the other Party or to any third party.

 

11.                                 Costs.
The Parties shall each bear their own costs, expert fees, attorneys’ fees and
other fees incurred in connection with this Agreement.

 

12.                                 Mediation.
Employee and the Company agree that any dispute or controversy arising out of,
relating to, or in connection with this Agreement, or the interpretation,
validity, construction, performance, breach or termination thereof, shall first
be submitted to mediation. The mediation shall be conducted within forty-five
(45) days of Employee notifying the Company of a dispute or controversy regarding
this Agreement or Employee’s employment relationship with the Company. Unless
otherwise provided for by law, the Company and Employee shall each pay half the
costs and expenses of the mediation.

 

13.                                 Arbitration.

 

(a)                                  In
the event that mediation pursuant to Section 12 fails to resolve a dispute
or controversy, Employee and the Company agree that any dispute or controversy
arising out of, relating to, or in connection with this Agreement, or the
interpretation, validity, construction, performance, breach, or termination
thereof, shall be finally settled by binding arbitration, unless otherwise
required by law, to be held in New York County, New York before the American
Arbitration Association under its National Rules for the Resolution of
Employment Disputes, or by a judge to be mutually agreed upon. The decision of
the arbitrator shall be final, conclusive and binding on the Parties to the
arbitration. Judgment may be entered on the arbitrator’s decision in any
court having jurisdiction.

 

(b)                                 The
arbitrator(s) shall apply New York law to the merits of any dispute or claim,
without reference to rules of conflicts of law.

 

(c)                                  Unless otherwise provided for by law, the
Company shall pay the costs and expenses unique to such arbitration.

 

(d)                                 EMPLOYEE
HAS READ AND UNDERSTANDS THIS SECTION DISCUSSING ARBITRATION. EMPLOYEE
UNDERSTANDS THAT BY SIGNING THIS AGREEMENT, EMPLOYEE AGREES TO SUBMIT ANY
CLAIMS ARISING OUT OF, RELATING TO, OR IN CONNECTION WITH THIS AGREEMENT, OR
THE INTERPRETATION, VALIDITY, CONSTRUCTION, PERFORMANCE, BREACH OR TERMINATION
THEREOF TO BINDING ARBITRATION, UNLESS OTHERWISE REQUIRED BY LAW, AND THAT THIS
ARBITRATION CLAUSE CONSTITUTES A WAIVER OF EMPLOYEE’S RIGHT TO A JURY TRIAL AND
RELATES TO THE RESOLUTION OF ALL DISPUTES RELATING TO ALL ASPECTS OF THE
EMPLOYER/EMPLOYEE RELATIONSHIP.

 

14.                                 Authority.
The Company represents and warrants that the undersigned has the authority to
act on behalf of the Company and to bind the Company and all who may claim
through it to the terms and

 

 

conditions
of this Agreement. Employee represents and warrants that s/he has the capacity
to act on his/her own behalf and on behalf of all who might claim through her
to bind them to the terms and conditions of this Agreement. Each Party warrants
and represents that there are no liens or claims of lien or assignments in law
or equity or otherwise of or against any of the claims or causes of action
released herein.

 

15.                                 No
Representations. Each Party represents that it has had the opportunity to
consult with an attorney, and has carefully read and understands the scope and
effect of the provisions of this Agreement. Neither Party has relied upon any
representations or statements made by the other Party hereto which are not
specifically set forth in this Agreement.

 

16.                                 Severability.
In the event that any provision hereof becomes or is declared by a court of
competent jurisdiction to be illegal, unenforceable or void, this Agreement
shall continue in full force and effect without said provision.

 

17.                                 Entire
Agreement. This Agreement, the terms of the stock option agreement issued
to Employee (which terms are amended hereby), and any confidentiality agreement
entered into by and between the Company and the Employee, represent the entire
agreement and understanding between the Company and Employee concerning
Employee’s separation from the Company, and supersedes and replaces any and all
prior agreements and understandings concerning Employee’s relationship with the
Company and his/her compensation by the Company, including, but not limited to,
Retention Agreements or Change in Control Agreements.

 

18.                                 No
Oral Modification. This Agreement may only be amended in writing
signed by Employee and either the Chief Executive Officer of the Chief
Financial Officer of the Company.

 

19.                                 Governing
Law. This Agreement shall be governed by the internal substantive laws but
not the choice of law rules of the State of New York.

 

20.                                 Counterparts.
This Agreement may be executed in counterparts, and each counterpart shall
have the same force and effect as an original and shall constitute an
effective, binding agreement on the part of each of the undersigned.

 

21.                                 Voluntary
Execution of Agreement. This Agreement is executed voluntarily and without
any duress or undue influence on the part or behalf of the Parties hereto,
with the full intent of releasing all claims. The Parties acknowledge that:

 

(a)                                  They
have read this Agreement;

 

(b)                                 They
have been represented in the preparation, negotiation, and execution of this
Agreement by legal counsel of their own choice or that they have voluntarily
declined to seek such counsel;

 

(c)                                  They
understand the terms and consequences of this Agreement and of the releases it
contains;

 

(d)                                 They
are fully aware of the legal and binding effect of this Agreement.

 

 

IN WITNESS WHEREOF, the
Parties have executed this Agreement on the respective dates set forth below.

 

 

	
   

  	
   

  	
  NETRATINGS, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Dated:

  	
  January 1, 2006

  	
  By

  	
  /s/ William R. Pulver

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Title

  	
  Chief Executive Officer

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  GEORGE DURNEY

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Dated:

  	
  January 1, 2006

  	
  /s/ George Durney

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