Document:

EX-10.7

 Exhibit 10.7 

 
 

 
 Alloy, Inc. 
 Offer Letter 
 December 9, 2003 

David Diamond 
 Dear David, 

On behalf of Alloy, Inc. (the “Company”), I am very pleased to provide you with the terms and conditions of your
employment by the Company. The following sets forth the proposed terms and conditions of the Company’s offer to employ you. We hope that you choose to join the Company and look forward to a mutually beneficial relationship. 

1. Position: Your initial position will be Director, Human Resources, Delia’s Corp. The position will be based out of the
Company’s Hudson Street office located in New York, NY. Your location is subject to change at the discretion of the Company. As the Company’s employee, we expect you to devote your full time and energies to the business and affairs
of the Company, and to perform any and all duties and responsibilities associated with this position and as may be reasonably assigned to you by the Company. In addition to your primary duties, you shall perform such other services for the Company
as may be reasonably assigned to you from time to time by the Company. Your performance will be reviewed on a periodic basis as long as you remain employed by the Company. 
 2. Starting Date/Nature of Relationship: If you accept this offer, your employment with the Company shall commence on January 5, 2004. Except as expressly set forth herein, this letter
does not create an employment contract or other agreement and is not a promise of employment for a specific period of time. You understand that your employment is at-will and either party may terminate the relationship with or without cause at any
time. 
 3. Compensation and Benefits: Your initial base pay shall be $150,000 per annum, ($5769.23 on a bi-weekly basis)
plus a $75,000 bonus program for the placement of “key” new hires, to be defined by the CEO of Delia’s to be paid out twice in the first year, at 4 months from date of hire and 12 months from date

 
of hire and an additional general management bonus plan to be implemented for 2004. The percentage for the general management bonus plan for 2004 is to be calculated on your base salary and
“key” new hire bonus placement combined compensation. This level of base pay will be reviewed at least annually. 
 In
addition, you shall be entitled to receive options to purchase 15,000 shares of Common Stock of Alloy, Inc. (the Company’s parent), par value $0.01 per share, pursuant to one of Alloy’s stock plans. Such options shall be exercisable at a
purchase price per share equal to the closing price of Alloy’s Common Stock on the NASDAQ market on the business day prior to the date of your commencement of employment with the Company. The options shall have the following vesting schedule:
3750 shares shall vest one year after your first day of employment, 3750 shares shall vest two years after your first day of employment, 3750 shares shall vest three years after your first day of employment, and the remaining
3750 shares shall vest four years after your first day of employment. The options shall have terms of ten years. 
 In
addition to your compensation, you will be entitled to receive the various benefits offered by the Company to its employees. Benefits offered may be modified or changed from time to time at the discretion of the Company. Where a particular benefit
is subject to a formal plan, eligibility to participate in and receive any particular benefit of the plan is governed solely by the applicable plan document. Should you ever have any questions, you should ask Beth Stankard, Alloy’s VP/ Human
Resources, for a copy of the applicable plan document. 
 4. Confidentiality: The Company considers the protection of its
confidential information, proprietary materials and goodwill to be extremely important. Consequently, as a condition of this offer of employment and your subsequent employment, you are required to sign the Non-Competition and Confidentiality
Agreement (the “Agreement”) enclosed with this letter. 
 5. Severance: In the event of a “change of control”,
that the Alloy Merchandise division is sold, and the new Company terminates you within 12 months of the acquisition, you shall be entitled to a one year severance package, that includes base salary, medical and dental benefits. If the company
terminates you for any other reason then change of control, without “cause”, you shall be entitled to a severance payment of 12 months of base salary, medical and dental benefits. “Cause” is defined as dishonesty, substantial
malfeasance or non-feasance of duty, unauthorized disclosure of confidential information and conduct substantially prejudicial to the business of the Company or and Affiliate. 
 6. Miscellaneous: This letter, together with the Agreement, constitutes our entire offer regarding the terms and conditions of your employment by the Company. It supersedes any prior
agreements, or other promises or statements 

  
 2 

 
(whether oral or written) regarding the offered terms of employment. The terms of your employment shall be governed by the law of the State of New York, without giving effect to its principles of
conflicts of laws. By accepting this offer of employment, you expressly agree that any action, demand, claim or counterclaim concerning any aspect of your employment relationship with the Company shall be resolved by a judge alone, and you waive and
forever renounce your right to a trial before a civil jury. Company and/or Alloy reserves the right to alter any of the terms of employment set forth in this letter as needed. 
 You may accept this offer of employment and the terms and conditions hereof by signing the enclosed additional copy of this letter and the Agreement, which execution will evidence your agreement with the
terms and conditions set forth herein and therein. 
 I am delighted to offer you the opportunity to join our Company, and we
look forward to your joining us. 
  

					
	ALLOY, INC.
		
	By:	 	

		 	James Johnson
	
	Accepted and Agreed:
		
	By:	 	

		 	Print Name:	 	David Diamond
		
	Date:	 	1/5/04

  
 3EX-10.7.1

 Exhibit 10.7.1 

 
 

 
 50 WEST 23rd STREET NEW YORK, NY 10010 

TELEPHONE: 212-807-9060 FAX: 212-590-6500 
 David Diamond 
  

							
	Title:	 	SVP, Human Resources
		
	Base Salary:	 	$360,000
		
	Bonus:	 	Target bonus of 30% of base salary (Target is guaranteed min. for fiscal 2013), payout in April, 2014.
		
	Res. Share Grant:	 	100,000 (3yr lapsing consistent with other RES grants)
		
	Stock Options:	 	100,000 (4yr vesting in equal annual installments) priced at market close on the effective date of this outline.
			
	Severance:	 	1)	 	Termination without cause will entitle you to receive:
				
		 		 	i.	 	Base Salary for 12 months following such termination (no mitigation) to be paid in accordance with the Company’s regular payroll schedule.
				
		 		 	ii.	 	All previously vested stock options and any unvested stock options or restricted shares that would have vested/lapsed in the next 12 months will accelerate and vest/lapse and
shall be exercisable for ninety (90) days after termination.
				
		 		 	iii.	 	Continued participation in all medical and dental plans at the same benefit level at which you were participating on the date of termination for 12 months.
			
		 	2)	 	Termination without cause within one (1) year after a Change in Control will entitle you to receive:
				
		 		 	i.	 	Base Salary for 12 months following such termination (no mitigation) to be paid in accordance with the Company’s regular payroll schedule.
				
		 		 	ii.	 	All previously vested stock options and any unvested stock options will accelerate and immediately vest and shall be exercisable for ninety (90) days after termination.
The restrictions on all shares of restricted stock where restrictions have not lapsed shall lapse as of the date of termination.
				
		 		 	iii.	 	Continued participation in all medical and dental plans at the same benefit level at which you were participating on the date of termination for 12
months.

 

 
 50 WEST 23rd STREET NEW YORK, NY 10010 

TELEPHONE: 212-807-9060 FAX: 212-590-6500 
  

							
			
		 	3)	 	Change of Control (The closing of any transaction regarding the sale or other transfer of substantially all the assets or stock of dELiA*s, Inc.)
				
		 		 	i.	 	If the acquiring entity requires Employee to relocate Employee’s principal place of employment, as in effect immediately prior to the Closing Date, outside of a
twenty-five (25) mile radius within 12 months following the Closing Date Employee may terminate employment and be entitled to severance as defined in number 1) i, ii, iii of this document.

  

									
	By:	 	

	 		 		 	
		 	Tracy Gardner, CEO	 		 		 	
				
	Accepted and Agreed:	 		 		 	
					
	By:	 	

	 		 	Date:	 	 7/28/13

		 	David DiamondEX-10.9

 Exhibit 10.9 

 
 

 
 August 7, 2013 
 Mr. Ryan A. Schreiber 
 1730 Boulevard 

Westfield, New Jersey 07090 
 Dear Ryan:

 On behalf of dELiA*s, Inc. (the “Company”), I am very pleased to provide you with the proposed terms and conditions
of the Company’s offer to employ you. Everyone you have met with feels you are a great fit for this company and will thrive here in the role we’ve discussed. We hope you choose to join the Company and look forward to a mutually beneficial
relationship. 
 1. Position: Your initial position will be as our SVP, General Counsel and Secretary working out of
the Company’s office located at 50 West 23rd Street,
New York, NY, 10010. Working as the Company’s employee, we expect you to devote your full time and energies to the business and affairs of the Company, and to perform any and all duties and responsibilities associated with this position and as
may be reasonably assigned to you from time to time by the Company. Your performance will be reviewed on a periodic basis as long as you remain employed by the Company. 
 2. Starting Date/Nature of Relationship: If you accept this offer, your employment with the Company shall commence no later than September 9, 2013. Except as expressly set forth herein, this
letter does not create an employment contract or other agreement and is not a promise of employment for a specific period of time. You understand that your employment is at-will and either party may terminate the relationship with or without cause
at any time. 
 3. Compensation and Benefits: Your initial base pay shall be $310,000 per annum, ($11,923.08 on a bi-weekly basis, every
other Friday). You are also eligible to participate in the 2013 Management Incentive Plan (MIP) on a prorated basis. Currently, the MIP is based on the company meeting or exceeding planned EBITDA and individual performance. Your target bonus under
this plan will be 30%. Under current plan rules you have the opportunity to earn up to 200% of your target. Under current company policy, salaries are reviewed annually at the start of each fiscal year. Your first salary review will be prorated in
the spring of 2014. 
 Additionally, you will receive options to purchase 30,000 shares of Common Stock of dELiA*s, Inc., par
value $0.01 per share, pursuant to one of dELiA*s stock plans. Such options shall be exercisable at a purchase price per share equal to the closing price of dELiA*s Common Stock on the NASDAQ market on the business day of your commencement of
employment with the Company. The options shall have the following vesting schedule: 7,500 shares 

 

 
  

 
shall vest one year after your first day of employment, 7,500 shares shall vest two years after your first day of employment, 7,500 shares shall vest three years after your first day of
employment, and the remaining 7,500 shares shall vest four years after your first day of employment. These options shall expire ten years from the date of grant. 
 In addition to your compensation, you will be entitled to receive the various benefits (Ex. Comprehensive Health Benefits, Employee Discounts, 401k, etc.) offered by the Company to its employees. Benefits
offered may be modified or changed from time to time at the discretion of the Company. Where a particular benefit is subject to a formal plan, eligibility to participate in and receive any particular benefit of the plan is governed solely by the
applicable plan document, prorated based on date of hire. You would currently be eligible for four (4) weeks paid vacation as well as holidays (10), sick days (5) and personal days (3) in accordance with company policy. Should you
ever have any questions, you should ask David Diamond, SVP of Human Resources, for a copy of the applicable plan document. 
 4.
Severance: If the Company terminates you for any reason other than “Cause”, you shall be entitled to a minimum 6 months of severance payments, paid bi-weekly in accordance with our regular pay periods, of your then current base
salary and continued participation in all medical and dental plans at the same benefit level and rate of contribution at which you were participating in prior to termination. These medical benefits will be provided by COBRA. “Cause” is
defined as the commitment of fraud, material breach of Section 1 of this offer letter, conviction of a felony, unauthorized disclosure of confidential information and conduct that constitutes gross neglect or gross misconduct in carrying out
your duties under Section 1 of this offer letter. 
 5. Assignment: The Company reserves the right at any time to assign this offer
letter to any parent, subsidiary or affiliate of the Company now in existence or formed hereafter. 
 6. Miscellaneous: This letter
constitutes our entire offer regarding the terms and conditions of your employment by the Company. It supersedes any prior agreements, or other promises or statements (whether oral or written) regarding the offered terms of employment. The terms of
your employment shall be governed by the law of the State of New York, without giving effect to its principles of conflicts of laws. By accepting this offer of employment, you expressly agree that any action, demand, claim or counterclaim concerning
any aspect of your employment relationship with the Company shall be resolved by a judge alone, and you waive and forever renounce your right to a trial before a civil jury. Company reserves the right to alter any of the terms of employment set
forth in this letter as needed. 

 

 
  

 You may accept this offer of employment and the terms and conditions hereof by signing a
copy of this letter, which execution will evidence your agreement with the terms and conditions set forth herein and therein. 

I am happy to offer you the opportunity to join our Company and we look forward to you joining us! 

 

									
	By:	 	

	 		 		 	
		 	David Diamond, SVP - Human Resources	 		 		 	
				
	Accepted and Agreed:	 		 		 	
					
	By:	 	

	 		 	Date:	 	9/9/13
		 	Ryan Schreiber

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