Document:

Bennett Smith Employment Agreement

                                            EXHIBIT 10.1
EMPLOYMENT AGREEMENT
THIS AGREEMENT, dated as of February 27, 2012, is between Dice Inc., a Delaware corporation (the “Company”), with its principal place of business at 1040 Avenue of the Americas, New York, NY, and Bennett Smith, an individual residing at______________________________________ (the “Employee”).
In consideration of the Company securing the services of the Employee and the Employee's undertaking employment with the Company, the Company and the Employee hereby agree to be bound by and comply with the following terms and conditions and agree as follows:
Section 1.At-Will Employment.  Employee acknowledges and agrees that his employment status is that of an employee-at-will and that Employee's employment may be terminated by the Company or the Employee at any time with or without cause, subject to the terms and conditions in the Addendum hereto.

Section 2.Compensation.  In consideration of the services to be rendered hereunder, the Employee shall be paid in accordance with the Addendum hereto.

Section 3.Employee Inventions and Ideas.

(a)The Employee will maintain current and adequate written records on the development of, and disclose to the Company, all Inventions (as defined herein).  “Inventions” shall mean all ideas, potential marketing and sales relationships, inventions, copyrightable expression, research, plans for products or services, marketing plans, computer software (including, without limitation, source code), computer programs, original works of authorship, characters, know-how, trade secrets, information, data, developments, discoveries, improvements, modifications, technology, algorithms and designs, whether or not subject to patent or copyright protection, made, conceived, expressed, developed, or actually or constructively reduced to practice by the Employee solely or jointly with others during the term of the Employee's employment with the Company, which refer to, are suggested by, or result from any work which the Employee may do during his employment, or from any information obtained from the Company or any affiliate of the Company.

(b)The Inventions shall be the exclusive property of the Company, and the Employee acknowledges that all of said Inventions shall be considered as “work made for hire” belonging to the Company.  To the extent that any such Inventions, under applicable law, may not be considered work made for hire by the Employee for the Company, the Employee hereby agrees to assign and, upon its creation, automatically and irrevocably assigns to the Company, without any further consideration, all right, title and interest in and to such materials, including, without limitation, any copyright, other intellectual property rights, moral rights, all contract and licensing rights, and all claims and causes of action of any kind with respect to such materials.  The Company shall have the exclusive right to use the Inventions, whether original or derivative, for all purposes without additional compensation to the Employee.  At the Company's expense, the Employee will assist the Company in every proper way to perfect the Company's rights in the Inventions and to protect the Inventions throughout the world, including, without limitation, executing in favor of the Company or any designee(s) of Company patent, copyright, and other applications and assignments relating to the Inventions.  The Employee agrees not to challenge the validity of the ownership by the Company or its designee(s) in the Inventions.

(c)Should the Company be unable to secure the Employee's signature on any document necessary to apply for, prosecute, obtain, or enforce any patent, copyright, or other right or protection relating to any Invention, whether due to the Employee's mental or physical incapacity or any other cause, the Employee hereby irrevocably designates and appoints the Company and each of its duly authorized officers and agents as the Employee's agent and attorney in fact, to act for and in the Employee's behalf and stead and to execute and file any such document, and to do all other lawfully permitted acts to further the prosecution, issuance, and enforcement of patents, copyrights, or other rights or protections with the same force and effect as if executed and delivered by the Employee.

Section 4.Proprietary Information.

(a)The Employee will not disclose or use, at any time either during or after the term of employment, except at the request of the Company or an affiliate of the Company, any Confidential Information (as herein defined).  “Confidential Information” shall mean all Company proprietary information, technical data, trade secrets, and know-how, including, without limitation, research, product plans, customer lists, customer preferences, marketing plans and strategies, software, development, inventions, discoveries, processes, ideas, formulas, algorithms, technology, designs, drawings, business strategies and financial data and information, including, but not limited to Inventions, whether or not marked as “Confidential.”  “Confidential Information” shall also mean any and all information received by the Company from customers, vendors and independent contractors of the Company or other third parties subject to a duty to be kept confidential.

(b)The Employee hereby acknowledges and agrees that all personal property, including, without limitation, all books, manuals, records, reports, notes, contracts, lists, blueprints, and other documents, or materials, or copies thereof, Confidential Information as defined in Section 4(a) above, and equipment furnished to or prepared by the Employee in the course of or incident to his employment, including, without limitation, records and any other materials pertaining to Inventions, belong to the Company and shall be promptly returned to the Company upon termination of employment.  Following termination, the Employee will not retain any written or other tangible or electronic material containing any Confidential Information or information pertaining to any Invention.

Section 5.Limited Agreement Not to Compete.

(a)While employed by the Company and for a period of nine (9) months after the termination of the Employee's employment with the Company, the Employee shall not, directly or indirectly, as an employee, employer, consultant, agent, principal, partner, manager, stockholder, officer, director, or in any other individual or representative capacity, engage or participate in any business that is competitive with the business of the Company.  Notwithstanding the foregoing, the Employee may own less than two percent (2%) of any class of stock or security of any corporation, which competes with the Company listed on a national securities exchange.

(b)While employed by the Company and for a period of twelve (12) months after the termination of the Employee's employment with the Company, the Employee shall not, directly or indirectly, solicit for employment any person who was employed by the Company at the time of the Employee's termination from the Company.

Section 6.Company Resources.  Other than incidental personal use, the Employee may not use any Company equipment for personal purposes without written permission from the Company. 

The Employee may not give access to the Company's offices or files to any person not in the employ of the Company without written permission of the Company.

Section 7.Post-Termination Period.  Because of the difficulty of establishing when any idea, process or invention is first conceived or developed by the Employee, or whether it results from access to Confidential Information or the Company's equipment, facilities, and data, the Employee agrees that any idea, invention, research, plan for products or services, marketing plan, computer software (including, without limitation, source code), computer program, original work of authorship, character, know-how, trade secret, information, data, developments, discoveries, technology, algorithm, design, patent or copyright, or any improvement, rights, or claims relating to the foregoing, shall be presumed to be an Invention if it is conceived, developed, used, sold, exploited or reduced to practice by the Employee or with the aid of the Employee within one (1) year after termination of employment.  The Employee can rebut the above presumption if he proves the idea, process or invention (i) was first conceived or developed after termination of employment, (ii) was conceived or developed entirely on the Employee's own time without using the Company's equipment, supplies, facilities, personnel or Confidential Information, and (iii) did not result from or is not derived directly or indirectly, from any work performed by the Employee for the Company or from work performed by another employee of the Company to which the Employee had access.

Section 8.Injunctive Relief.  The Employee agrees that the remedy at law for any breach of the provisions of Section 3, Section 4 or Section 5 of this Agreement shall be inadequate, the Company will suffer immediate and irreparable harm, and the Company shall be entitled to injunctive relief in addition to any other remedy at law which the Company may have.

Section 9.Severability.  In the event any of the provisions of this Agreement shall be held by a court or other tribunal of competent jurisdiction to be unenforceable, the other provisions of this Agreement shall remain in full force and effect.

Section 10.Survival.  Sections 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12 and 13 and the Addendum survive the termination of this Agreement.

Section 11.Representations and Warranties.  The Employee represents and warrants that the Employee is not under any obligation to any third party which could interfere with the Employee's performance under this Agreement, and that the Employee's performance of his obligations to the Company during the term of his employment with the Company will not breach any agreement by which the Employee is bound not to disclose any proprietary information including, without limitation, that of former employers; provided that notwithstanding the foregoing, in the event employee determines that an action which the Company requests him to pursue would cause him to violate any such agreement, so informs the Company, and the Company instructs him to proceed with such action, Employees proceeding with such action shall not be deemed to be a violation of this representation and warranty.

Section 12.Governing Law.  The validity, interpretation, enforceability, and performance of this Agreement shall be governed by and construed in accordance with the laws of the State of New York without giving effect to its conflict of law rules.

Section 13.General.  This Agreement supersedes and replaces any existing agreement between the Employee and the Company relating generally to the same subject matter, and may be modified only in a writing signed by the parties hereto.  Failure to enforce any provision of the Agreement shall not constitute a waiver of any term herein.  This Agreement contains the entire agreement between 

the parties with respect to the subject matter herein.  The Employee agrees that he will not assign, transfer, or otherwise dispose of, whether voluntarily or involuntarily, or by operation of law, any rights or obligations under this Agreement.  Any purported assignment, transfer, or disposition shall be null and void.  Nothing contained in this Agreement shall prevent the consolidation of the Company with, or its merger into, any other corporation, or the sale by the Company of all or substantially all of its properties or assets, or the assignment by the Company of this Agreement and the performance of its obligations hereunder.  Subject to the foregoing, this Agreement shall be binding upon and shall inure to the benefit of the parties and their respective heirs, legal representatives, successors, and permitted assigns, and shall not benefit any person or entity other than those enumerated.

Section 14.Employee Acknowledgment.  The Employee acknowledges (i) that he has consulted with or has had the opportunity to consult with independent counsel of his own choice concerning this Agreement and has been advised to do so by the Company, and (ii) that he has read and understands the Agreement, is fully aware of its legal effect, and has entered into it freely based on his own judgment.

AGREED TO BY:
DICE INC.
Sign: /S/ SCOT W. MELLAND    
Scot W. Melland
Chairman, President, & Chief 
Executive Officer

BENNETT SMITH
Sign: /S/ BENNETT SMITH    

Addendum to Employment Agreement - Bennett Smith (Employee)
Section 1.     Title and Job Description.  The Employee shall be employed on a full-time basis, as Chief Technology Officer of the Company.  In such capacity, the Employee shall be responsible for the technology operations of the Company and any other responsibilities reasonably assigned by the Company from time to time.  The Employee shall report to the President and CEO of the Company.

Section 2.     Compensation.  In consideration of the services to be rendered hereunder: the Employee shall be paid an annual base salary of $285,000 per year (prorated for calendar year 2012), plus Employee shall be eligible for an annual target bonus of 30% of the Employee's annual base salary (prorated for calendar year 2012) based upon Company performance and MBOs.  Employee will also receive a sign on bonus of $50,000.

The Employee shall be granted 75,000 stock options (“Stock Options”) and 50,000 shares of restricted stock (“Restricted Stock”) on the administration date following the initial date of the Employee's employment with the Company, made pursuant to the terms and conditions of the Company's 2007 Equity Award Plan (the “Stock Option Plan”) and option-granting documents and subject to approval by the Compensation Committee or the Board of Directors.  The Stock Options shall vest over four years, with twenty-five percent (25%) vesting upon the first anniversary of the grant and six and one-quarter percent (61⁄4%) vesting quarterly thereafter.  The Restricted Stock shall vest over four years, with twenty-five percent (25%) vesting upon the first anniversary of the grant and twenty-five percent (25%) vesting upon each anniversary thereafter.
The Employee shall be eligible for all employee benefits under the Company's benefit plans in effect from time to time, including health, prescription, life, dental, vision, short-term and long-term disability, flexible spending account, and 401(k) Plan.  The Employee shall be entitled to four weeks of vacation per year.
The Employee's compensation shall be reviewed on at least an annual basis.
Section 3.     Severance.  In lieu of any severance pay or severance benefits otherwise payable to the Employee under any plan, policy, program or arrangement of the Company or its subsidiaries, the following shall apply:

(a)If there is a Termination (as herein defined) of the Employee's employment with the Company at any time prior to a “Change of Control” (as defined herein) without “Cause” (as defined herein), the Employee shall be entitled to receive a lump-sum severance payment equal to one hundred percent (100%) of his then current annual base salary, and the Employee shall also be entitled to accelerated stock option vesting, effective upon such Termination, with respect to twenty-five percent (25%) of the shares of Company common stock underlying each of the Employee's then unvested outstanding stock options, restricted stock and other outstanding equity-based awards.

(b)If there is a Termination of the Employee's Employment with the Company following a Change of Control, the Employee shall be entitled to receive a lump-sum severance payment equal to (i) one hundred percent (100%) of his then current annual salary plus (ii) the amount of his then current bonus target, and (iii) accelerated vesting with respect to one-hundred percent (100%) of the shares of Company common stock underlying each of the Employee's then unvested outstanding stock options, restricted stock and other outstanding equity-based awards.

(c)The Employee, such Employee's spouse and eligible dependents will 

continue to be provided with medical and dental benefits for the twelve (12)-month period following such Employee's Termination on the same basis as provided to active employees of the Company.  Following such twelve (12)-month period, the Employee, such Employee's spouse and eligible dependents will begin eligibility for continuation of medical and dental coverage in accordance with Section 4980B of the Internal Revenue Code of 1986, as amended (the “Code”).

Section 4.    Definitions.
(a) For purposes of this Agreement only, a “Change of Control” of the Company shall be deemed to have occurred if at any time on or after the date of the Employment Agreement one or more of the following events shall have occurred:
(i) the direct or indirect acquisition by any person or related group of persons (other than an acquisition from or by the Company or by a Company-sponsored employee benefit plan or by a person that directly or indirectly controls, is controlled by, or is under common control with, the Company) of beneficial ownership (within the meaning of Rule 13d-3 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) of securities possessing more than fifty percent (50%) of the total combined voting power of the Company's outstanding securities; or
(ii) any stockholder-approved transfer or other disposition of all or substantially all of the Company's assets; or
(iii) the Company adopts any plan of liquidation providing for the distribution of all or substantially all of its assets; or
(iv) the consummation by the Company of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of the Company or the acquisition of assets or stock of another corporation (a “Business Combination”), in each case, unless, following such Business Combination, (a) all or substantially all of the individuals and entities who were the beneficial owners, respectively, of the outstanding common stock and outstanding company voting securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 60% of, respectively, the then outstanding shares of common stock and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such Business Combination (including, without limitation, a corporation which as a result of such transaction owns the Company or all or substantially all of the Company's assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Business Combination of the outstanding Company common stock and outstanding Company voting securities, as the case may be, (b) no person (excluding any corporation resulting from such Business Combination or any employee benefit plan (or related trust) of the Company or such corporation resulting from such Business Combination) beneficially owns, directly or indirectly, 20% or more of, respectively, the then outstanding shares of common stock of the corporation resulting from such Business Combination or the combined voting power of the then outstanding voting securities of such corporation except to the extent that such ownership existed prior to the Business Combination and (c) at least a majority of the members of the board of directors of the corporation resulting from such Business Combination were members of the incumbent board at the time of the execution of the initial agreement, or of the action of the board of directors, providing for such Business Combination; or
(v) a change in the composition of the Board over a period of thirty-six (36) months or less such that a majority of the Board members (rounded up to the next whole number) ceases, by reason of one or more contested elections for Board membership, to be comprised of individuals who are continuing 

directors.
(b) For purposes of this Agreement only, “Cause” shall mean (i) embezzlement by the Employee, (ii) misappropriation by the Employee of funds of the Company, (iii) conviction of a felony, (iv) commission of any other act of dishonesty which causes material economic harm to the Company, (v) acts of fraud or deceit by the Employee which causes material economic harm to the Company, (vi) material breach of any provision of the Employment Agreement by the Employee, (vii) willful failure by the Employee to substantially perform such Employee's duties hereunder, (viii) willful breach of fiduciary duty by the Employee to the Company involving personal profit or (ix) significant violation of Company policy of which the Employee is made aware (or such Employee should reasonably be expected to be aware) or other contractual, statutory or common law duties to the Company.  No act, or failure to act on the part of the Employee, shall be deemed willful unless it is done, or omitted to be done, by the Employee in bad faith or without reasonable belief that the Employee's action or omission was in the best interests of the Company.
(c) For purposes of this Agreement only, “Good Reason” shall mean (i) a diminution in the responsibilities, title, duties and reporting lines of the Employee compared to those existing immediately prior to a Change of Control, (ii) a reduction in salary, incentive compensation and other employee benefits of the Employee compared to those existing immediately prior to the Change of Control, (iii) relocation of the Employee to an office more than 40 miles from the principal office at which the Employee is employed immediately prior to the Change of Control, (iv) any breach by the Company of the Employment Agreement or (v) the failure of any successor to assume, in writing, all obligations under the Employment Agreement.
(d) For purposes of this Agreement only, “Termination” shall mean termination of the Employee's employment without Cause or by the Employee for Good Reason.
Section 5.    Excise Tax
In the event that the Employee becomes entitled to the payments and benefits provided in Section 3 (the “Severance Payments”) of this Addendum to the Employment Agreement, if any of the Severance Payments will be subject to the excise tax (the “Excise Tax”) imposed under Section 4999 of the Code, the Company shall pay to the Employee an additional amount (the “Gross‐Up Payment”) such that the net amount retained by the Employee, after deduction of any Excise Tax on the Severance Payments and any Federal, state and local income and employment tax and Excise Tax upon the payments and benefits provided for by Section 5 of this Addendum to the Employment Agreement, shall be equal to the Severance Payments.  For purposes of determining whether any of the Severance Payments will be subject to the Excise Tax and the amount of such Excise Tax, (i) any other payments or benefits received or to be received by the Employee in connection with a change in ownership or control (within the meaning of section 280G of the Code and the regulations promulgated thereunder) of the Company or the Employee's termination of employment by the Company without Cause or by the Employee for Good Reason (whether pursuant to the terms of the Employment Agreement or any other plan, arrangement or agreement with the Company, any person whose actions result in a change of control or any person affiliated with the Company or such person) shall be treated as “parachute payments” within the meaning of section 280G(b)(2) of the Code, and all “excess parachute payments” within the meaning of section 280G(b)(1) of the Code shall be treated as subject to the Excise Tax, unless in the opinion of tax counsel selected by the Company's independent auditors and reasonably acceptable to the Employee such other payments or benefits (in whole or in part) do not constitute parachute payments, including by reason of Section 280G(b)(4)(A) of the Code, or such excess parachute payments (in whole or in part) represent reasonable compensation for services actually rendered, within the meaning of section 280G(b)(4)(B) of 

the Code, in excess of the “base amount” allocable to such reasonable compensation, or are otherwise not subject to the Excise Tax, (ii) the amount of the Severance Payments which shall be treated as subject to the Excise Tax shall be equal to the lesser of (A) the total amount of the Severance Payments or (B) the amount of excess parachute payments within the meaning of section 280G(b)(l) of the Code (after applying clause (i), above), and (iii) the value of any non-cash benefits or any deferred payment or benefit shall be determined by the Company's independent auditors in accordance with the principles of sections  280G(d)(3) and (4) of the Code. For purposes of determining the amount of the Gross-Up Payment, the Employee shall be deemed to pay Federal income taxes at the highest marginal rate of Federal income taxation in the calendar year in which the Gross-Up Payment is to be made and state and local income taxes at the highest marginal rate of taxation in the state and locality of the Employee's residence on the date of termination, net of the maximum reduction in Federal income taxes which could be obtained from the deduction of such state and local taxes.
Section 6.    Withholding
All amounts payable hereunder shall be subject to and paid net of all required withholding taxes.
AGREED TO BY:
DICE INC.
Sign:  /S/ SCOT W. MELLAND    
Scot W. Melland
Chairman, President, & Chief 
Executive Officer

BENNETT SMITH
Sign:  /S/ BENNETT SMITHJames Bennett Employment Agreement

                             EXHIBIT 10.2
AMENDMENT TO
EMPLOYMENT AGREEMENT
This AMENDMENT (this “Amendment”) to the Employment Agreement (the “Employment Agreement”), dated as of November 16, 2004, between eFinancialNews Limited and James Bennett (“Employee”), as amended as of April 1, 2005 (to reflect Employee's employment with eFinancialCareers Limited (the “Company”), a wholly-owned subsidiary of Dice Holdings, Inc. (“DHI”)), is dated as of July 1, 2011.
WHEREAS, the Company and Employee wish to amend the Employment Agreement to (a) extend certain notice periods, (b) extend the duration of certain restrictive covenants and (c) provide for certain acceleration of vesting of Employee's outstanding equity-based awards under certain specified circumstances and additional change in control severance benefits.  
NOW, THEREFORE, in consideration of the mutual agreements and understandings set forth herein, the parties hereby agree as follows:
1.Except as defined herein, capitalized terms used herein shall have the meanings ascribed to such terms in the Employment Agreement.

2.Amendment to paragraph 1 of Employment Agreement.  The first sentence of paragraph 1 of the Employment Agreement is deleted in its entirety and replaced with the following:

“You will be employed as Managing Director, EMEA & Asia Pacific for the Company, or in such other capacity of a like status as the Company may require.”
3.Amendment to paragraph 2 of Employment Agreement.  Paragraph 2 of the Employment Agreement is hereby amended by replacing the phrase “until either party gives to the other three months' written notice to terminate your employment” with the phrase “until either party gives to the other six months' written notice to terminate your employment”.

4.Amendment to paragraph 3.2 of Employment Agreement.  The second, third and fourth sentences of paragraph 3.2 of the Employment Agreement are deleted in their entirety and replaced with the following:

“You may not (without the prior written consent of the Group Chief Executive) undertake, carry on, participate in, assist or be employed, engaged or interested in any capacity (including as a consultant, agent, principal, partner, manager, stockholder, officer, or director) in either any business which is competitive with or similar to a Relevant Business, or any business an objective or anticipated result of which is to compete with a Relevant Business.  You acknowledge and agree that, since your position as Managing Director, EMEA & Asia Pacific includes broad geographic responsibilities, the restrictions in the prior sentence cannot be limited by geographic scope.  Notwithstanding the foregoing, you may own less than three percent (3%) of any class of stock or security of any corporation which competes with DHI or its subsidiaries which is listed on a national securities exchange.”
5.     Amendment to paragraph 10.6 of Employment Agreement.  A new paragraph 10.6 of the Employment Agreement is added to read as follows:
“10.6.    Special Severance.  
I.   Severance. In lieu of any severance pay or severance benefits otherwise payable to you under any plan, policy, program or arrangement of DHI or its subsidiaries, the following shall apply: 
(a) If there is a Termination (as herein defined) of your employment with DHI at any time within twelve (12) months after the occurrence of a Change of Control (as herein defined), (i) you shall be entitled to 

receive a lump-sum severance payment equal to (A) one hundred percent (100%) of your then current salary plus (B) the amount of your target bonus for the current calendar year, and (ii) all outstanding stock options granted to you which are not vested and exercisable as of the date of Termination shall become vested and exercisable as of such date and shall remain exercisable for the periods prescribed in the Stock Option Plan, and all restricted stock and other equity-based awards shall be fully vested.  You, your spouse and eligible dependents will continue to be provided with medical and dental benefits for the twelve (12)-month period following your Termination on the same basis as were provided to you immediately prior to such Termination.  You shall have no duty to mitigate damages by seeking other employment. DHI shall have no right to offset hereunder with respect to any compensation or benefits received by you from or in connection with any employment subsequent to your Termination of employment with DHI.  For the avoidance of doubt, the lump-sum severance amount in this paragraph 10.6.I(a)(i) shall be reduced by any compensation required to be provided during the applicable six-month notice period under paragraph 2 above.
(b) If you voluntarily terminate employment with DHI for any reason other than “Good Reason” (as herein defined) during the twelve (12)-month period following a Change of Control as described in paragraph 10.6.II(a) below, you will not be entitled to any severance payment or acceleration of the vesting of any unvested stock options, restricted stock or other equity-based awards. 
II. Definitions. 
(a) For purposes of this paragraph 10.6 only, a “Change of Control” of DHI shall be deemed to have occurred if at any time on or after the date of this letter agreement one or more of the following events shall have occurred: 
 
 (i) the direct or indirect acquisition by any person or related group of persons (other than an acquisition from or by DHI or by a DHI-sponsored employee benefit plan or by a person that directly or indirectly controls, is controlled by, or is under common control with, DHI) of beneficial ownership (within the meaning of Rule 13d-3 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) of securities possessing more than fifty percent (50%) of the total combined voting power of DHI's outstanding securities; or 
(ii) any stockholder-approved transfer or other disposition of all or substantially all of DHI's assets; or 
(iii) DHI adopts any plan of liquidation providing for the distribution of all or substantially all of its assets; or 
(iv) the consummation by DHI of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of DHI or the acquisition of assets or stock of another corporation (a “Business Combination”), in each case, unless, following such Business Combination, (a) all or substantially all of the individuals and entities who were the beneficial owners, respectively, of the outstanding common stock and outstanding company voting securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 60% of, respectively, the then outstanding shares of common stock and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such Business Combination (including, without limitation, a corporation which as a result of such transaction owns DHI or all or substantially all of DHI's assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Business Combination of the outstanding DHI common stock and outstanding DHI voting securities, as the case may be, (b) no person (excluding any corporation resulting from such Business Combination or any employee benefit plan (or related trust) of DHI or such corporation resulting from such Business Combination) beneficially owns, directly or indirectly, 20% or more of, respectively, the then outstanding shares of common stock of the corporation resulting from such Business Combination or the combined voting power of the then outstanding voting securities of such corporation except to the extent that such ownership existed prior to the Business Combination and (c) at least a majority of the members of the board of directors of the corporation resulting from such Business Combination were members of the incumbent board at the time of the execution of the initial agreement, or of the action of the board of directors, providing for such Business Combination; or 

(v) a change in the composition of the Board over a period of thirty-six (36) months or less such that a majority of the Board members (rounded up to the next whole number) ceases, by reason of one or more contested elections for Board membership, to be comprised of individuals who are continuing directors. 
 
(b) For purposes of this paragraph 10.6 only, “Cause” shall mean (i) embezzlement by you, (ii) misappropriation by you of funds of DHI, (iii) conviction of a felony, (iv) commission of any other act of dishonesty which causes material economic harm to DHI, (v) acts of fraud or deceit by you which causes material economic harm to the Company, (vi) material breach of any provision of this employment letter by you, (vii) willful failure by you to substantially perform your duties hereunder, (viii) willful breach of fiduciary duty by you to DHI involving personal profit or (ix) significant violation of DHI policy of which you are made aware (or you should reasonably be expected to be aware) or other contractual, statutory or common law duties to DHI.  No act, or failure to act on your part, shall be deemed willful unless it is done, or omitted to be done, by you in bad faith or without reasonable belief that your action or omission was in the best interests of DHI. 
(c) For purposes of this paragraph 10.6 only, “Good Reason” shall mean (i) a diminution in your responsibilities, title, duties and reporting lines compared to those existing immediately prior to a Change of Control, (ii) a reduction in your salary, incentive compensation and other employee benefits compared to those existing immediately prior to the Change of Control, (iii) your relocation to an office more than 40 miles from the principal office at which you are employed immediately prior to the Change of Control, (iv) any breach by DHI of this letter or (v) the failure of any successor to assume, in writing, all obligations under this letter (including this paragraph 10.6). 
(d) For purposes of this paragraph 10.6 only, “Termination” shall mean termination of your employment without Cause or by you for Good Reason.”

6.     Amendment to paragraph 11 of Employment Agreement.  Paragraphs 11.1(a), 11.1(b), 11.1(c) and 11.1(d) of the Employment Agreement are each hereby amended by replacing the phrase “6 months” with the phrase “9 months”.
7.    Continuing Effect of Employment Agreement.  Except as expressly modified hereby, the provisions of the Employment Agreement (including the Addendum thereto) are and shall remain in full force and effect.

8.Governing Law.  The terms of this Amendment will be construed in accordance with English law and both parties irrevocably submit to the non-exclusive jurisdiction of the English Courts to settle any disputes which may arise in connection with this Amendment.   

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

[Signature page follows]

IN WITNESS WHEREOF, the parties have executed and delivered this Amendment on the date first written above.

EFINANCIALCAREERS LIMITED 
By:  /S/ SCOT W. MELLAND             
Name: Scot W. Melland
Title:   Chairman, President & Chief
            Executive Officer
EMPLOYEE
/S/ JAMES BENNETT                         
James Bennett
[Signature page to Amendment to Employment Agreement 
between the Company and James Bennett]

16 November 2004
James Bennett

8, Grazebrook Road 
London
N16 OHS

Dear James

I am writing to set out the proposed terms of your employment with eFinancialNews Limited ("the Company") following our discussions. I should mention that the definitions of some of the words and expressions used in this letter are in paragraph 14.

1.Position and Location

You will be employed by eFinancialNews Limited as Chief Operating Officer, eFinancialCareers or in such other capacity of a like status as the Company may require. Your responsibilities and objectives will be as agreed from time to time. You will be based at the Company's London Head Office from time to time traveling to other locations in the United Kingdom and overseas as reasonably required in the performance of your duties.

2.Commencement and Period of Employment

Your period of continuous employment with the Company will begin on 29th November 2004 and will continue until either party gives to the other three months' written notice to terminate your employment, except that, during a probationary period of six months, either party may give to the other one month's notice to terminate your employment.

3.Hours of Work and Duties

		
	3.1 
	You will be required to work during normal business hours from Monday to Friday and such other hours as may be reasonably necessary for the proper performance of your duties for the Company.

		
	3.2 
	You are to devote the whole of your working time to the business of the Company, unless prevented by ill health or injury. You may not (without the prior written consent of the Chief Executive of the Company) accept any other appointment. Without such consent you may also not be directly or indirectly engaged in, concerned with or financially interested in any other business, except through a holding for investment purposes only of not more than three per cent in any class of shares or securities in any company listed or dealt in on any recognised stock exchange. You may not undertake any paid work in your spare time without the prior written approval of the Chief Executive of the Company, who will need to be satisfied that this will not affect the performance of your duties.

		
	3.3.1 
	You will perform such duties for the Company and exercise such powers as the Board or the Chief Executive of the Company, and the Chief Executive of the Careers division, may require. Those duties are to be carried out loyally, diligently and in accordance with the directions of the Board or the Chief Executives. You should keep them properly informed about the business of the Company and promote and protect the interests of the Company, not knowingly or deliberately doing anything, which is to its detriment.

		
	3.4 
	You agree to the Company holding and processing, both electronically and manually, the data which it collects relating to you in connection with your employment for the purpose of its business, administering and managing its employees, and complying with applicable laws, regulations and procedures.

		
	4.      
	Salary and Expenses

		
	4.1 
	You will be paid a salary at the rate of £95,000 per annum. Your salary will accrue from day to day and will be paid by equal installments in arrears and normally on the last day of each month, subject to such deductions as are required by law or under the terms of your employment.

		
	4.2 
	You will also be paid a minimum bonus of £17,500 in respect of the year ending 31 December 2005, payable in four equal installments in April 2005, July 2005, October 2005 and January 2006 provided you are employed by the Company on the last day of each of those months.

		
	4.3
	For the year ending 31 December 2006,    minimum combined salary and bonus will be £112,500 provided you are employed by the Company up to 31 December 2006.

		
	4.4 
	You will be entitled, on production of satisfactory evidence of expenditure, to be reimbursed for reasonable out-of-pocket expenses wholly and properly incurred by you in the performance of your duties. Any credit card supplied to you by the Company may only be used for expenses incurred by you in the performance of those duties.

		
	4.5 
	The Group may withhold the payment of any money owing or due to be paid to you if you are in breach of the terms of this Agreement and may withhold or deduct any money owing or due to be paid by you to it under this Agreement or otherwise from any money owing or due to be paid to you.

		
	5.
	Ill Health and Injury

		
	5.1 
	If you are unable to perform your duties as a result of ill health or injury, you will be entitled, for so long as your employment continues, to your salary during any period of incapacity of not more than 30 days (whether consecutive or not) in any period of 52 consecutive weeks. The payment of such salary will be subject to the production of satisfactory evidence from a registered medical practitioner in respect of any period of absence of more than seven consecutive days and will include any statutory sick pay and other social security benefits to which you are or may be entitled. Your qualifying days for statutory sick pay are Monday to Friday.

		
	5.2 
	You will promptly inform the Company if you are unable to perform your duties as a result of ill health or injury caused by a third party and for which compensation may be recoverable. In return for the Company continuing to pay your salary and to provide other benefits during your employment, you will take such action as the Company may reasonably request to pursue a claim against such third party, in order to recover for the benefit of the Company the costs of continuing your employment. You will keep the Company regularly informed of the progress of any claim, provide such information about it as the Company may from time to time reasonably require, and will immediately notify the Company in writing of the compromise, settlement, award or judgment. You will, if you are asked to do so, refund to the Company the lesser of the amount recovered by you (after deducting any related costs borne by you) and the aggregate cost of the salary and other benefits paid to you during your ill health or injury and will hold these proceeds on trust for the Company to apply them in repayment of this obligation.

		
	5.3.1 
	You will from time to time upon request submit yourself to a medical examination at the Company's expense by a suitably qualified person of the Company's choice, if you are unable to perform your duties for the Group as a result of ill health or injury. If that person is unable to confirm that you are fit to perform your duties or if there are factors which such person considers are relevant to the performance of those duties, you will co-operate in ensuring the prompt delivery of all relevant medical reports to the Company and will allow the Company access to any relevant medical report which has been prepared by a medical practitioner responsible for your clinical care.

		
	6.
	Holidays

In addition to normal public holidays, you will be entitled to 25 working days' paid holiday in each calendar year, with no more than 10 working days being taken at any one time except with the consent of the Chief Executive of the Careers Division (your Manager). This entitlement accrues pro rate throughout each year.  Your holidays are to be taken as agreed with your Manager, after your having given at least one month's prior notice, except that the Company requires you to take at least ten days during July and August each year, and may require you to take your holiday during your notice period or during the period when you are not required to work pursuant to paragraph 10.3. Any holiday not taken at the end of each calendar year will lapse and no payment in lieu of any unused entitlement will be made. On the termination of your employment (except by reason of paragraph 10.1) you will be entitled to a day's salary for each day of holiday accrued but not taken in the year of departure. If you have taken excess holiday the Company may deduct a day's salary for each excess day from any monies owed to you.

		
	7.
	Confidentiality and Company Property

		
	7.1 
	During your employment you will have access to and will be entrusted with confidential information and trade secrets relating to the business of the Company. This includes but is not limited to information and secrets relating to:

(a)    corporate and marketing strategy, business development and plans, sales reports, circulation figures and research results;

(b)     business methods and processes, technical information and know-how relating to the Company's business and which is not available to the public generally, including inventions, designs, programmes, techniques, database systems, formulae and ideas;

(c)     business contacts, lists of customers and suppliers and details of contracts with them and information on employees including their particular skills and areas of expertise and the terms of their employment;

(d)    stock levels, sales, expenditure levels and buying and pricing policies;

(e)    budgets, management accounts, trading statements and other financial reports;

(f)    any document marked "confidential" or any information not in the public domain the disclosure of which would put the Company at a competitive or legal disadvantage.

		
	 7.2 
	You may not during your employment (otherwise than in the proper performance of your duties and then only to those who need to know such information or secrets) or afterwards (otherwise than with the prior written consent of the Board or as required by law) use or disclose any confidential information or trade secrets concerning the business of the Company or in respect of which the Company may be bound by an obligation of confidence to any third party. You should also use your best endeavors to prevent the publication or disclosure of such information or secrets. These restrictions will not apply after your employment has terminated to information which has become available to the public generally, otherwise than through unauthorised disclosure.

		
	7.3 
	All notes, memoranda and other records (including those stored on computer software) made by you during your employment and relating to the business of the Company belong to the Company and should promptly be handed over to the Company (or as it may direct) from time to time.

		
	8.      
	Intellectual-Property-Rights

		
	8.1 
	Any trade mark, design or other copyright work created by you during your employment with the Company (and whether or not in conjunction with a third party) in connection with, affecting or relating to the business of the Company or capable of being used or adapted for use in it must immediately be disclosed to the Company and will belong to the relevant company in the Company. You will not infringe any rights in such works and will notify the Company immediately of any circumstances where such rights may have been infringed.

		
	8.2 
	You agree that you will at the Company's expense and upon request (whether during after the termination of your employment) execute such documents as may be necessary to implement the provisions of this paragraph 8 and vest all rights, title and interest in such property in the relevant company in the Company.

		
	9.
	Disciplinary and Grievance Procedure

		
	9.1 
	You are expected to exhibit a high standard of propriety, integrity and efficiency in all your dealings with and in the name of the Company. You may be suspended with pay or required to take any accrued holiday entitlement during any investigation which it may be necessary for the Company to undertake. There is a disciplinary procedure. If you are dissatisfied with any disciplinary decision, you may refer it to the Board, whose decision will be final.

		
	9.2 
	If you have any grievance relating to your employment, you should refer it to the Chief Executive of the Company. If you are dissatisfied with this decision, you may refer the matter to the Board, whose decision will be final.

		
	10.
	Termination

		
	10.1 
	The Company may, notwithstanding any other terms of your employment and irrespective of whether the grounds for termination arose before or after it began, at any time by notice in writing, terminate your employment with immediate effect:

		
	(a)
	if you have been unable to perform your duties by reason or ill health Injury for 30 days (whether consecutive or not) in any period of 52 consecutive weeks;

		
	(b)
	if you become of unsound mind, a patient for the purpose of any statute relating to mental health, a petition is presented or any order is made or any notice is issued convening a meeting for the purpose of passing a resolution for your bankruptcy or you become bankrupt or make any composition or enter into any deed of arrangement with your creditors generally;

		
	(c) 
	if you are convicted of a criminal offence other than one which in the opinion of the Board does not affect your position as an employee of the Company, bearing in mind the nature of your duties and the capacity In which you are employed; or

		
	 (d) 
	if you are guilty of any serious default or misconduct in connection with or affecting the business of the Company, commit any serious or repeated breach of your obligations under your employment, are guilty of serious neglect or negligence in the performance of your duties or behave in a manner (whether on or off duty) which is likely to bring the Company into disrepute or which seriously impairs your ability to perform your duties.

		
	10.2
	Your employment will automatically cease without any notice being given on your 60th birthday.

		
	10.3 
	If the Company wishes to terminate your employment or if you wish to leave its employment before the expiry of the notice in paragraph 2 and whether or not either party has given notice to the other under that 

paragraph, the Company may require you to perform duties not within your normal duties or special projects or may require you not to attend for work for the period of the notice being given under paragraph 2 or (if no such notice has been given) for a period equivalent to the notice period required to be given by you to terminate the contract. For so long as you are not required to work during such period, you will remain an employee of the Company. You will continue to receive your salary and other contractual entitlements and to be bound by all the terms of this Agreement. You will not directly or indirectly work for any person, have any contact with any customer of the Company or, for business purposes, any such employee without the prior written agreement of the Board.

		
	10.4 
	On the termination of your employment you will hand over to the Company all property (including company credit cards and keys) belonging to the Company or relating to its business, which may be in your possession or under your control and without you or anyone on your behalf keeping copies of any reproducible items and without having downloaded any information stored on any computer disk.

		
	10.5 
	After the termination of your employment you will not at any time make any untrue or misleading statement about the Company or its officers or employees or represent yourself as being after such termination employed by or connected with the Company.

11.    Restrictive Covenants

		
	11.1 
	During your employment and for the periods set out below after its termination less any period during which you are not required to attend for work pursuant to paragraph 10.3, you will not (except with prior written consent of the Board) directly or indirectly do or attempt to do any of the following:

		
	(a) 
	for 6 months undertake, carry on or be employed, engaged or interested in any capacity in either any business which is competitive with or similar to a Relevant Business within the Territory, or any business an objective or anticipated result of which is to compete with a Relevant Business within the Territory;

		
	(b) 
	for 6 months entice, induce or encourage a Customer to transfer or remove custom from the Company or any Associated Company;

		
	(c)
	for 6 months solicit or accept business from a Customer for the supply of Competitive Services;

		
	(d)
	for 6 months entice, induce or encourage an Employee to leave or seek to leave his or her position with the Company or any Associated Company for the purpose of being involved in or concerned with either the supply of Competitive Services or a business which competes with or is similar to a Relevant Business or which plans to compete with a Relevant Business, regardless of whether or not that Employee acts in breach of his or her contract of employment with the Company or any Associated Company by so doing and regardless of whether the Relevant Business is within or outside the Territory.

		
	11.2
	For the purpose of this paragraph 11:

		
	(a)
	"Customer" means a person:

		
	(i) 
	who at any time during the Relevant Period was a customer or client of the Company or any Associated Company (whether or not goods or services were actually provided during such period) or to whom at the expiry of the Relevant Period the Company or any Associated Company was actively and directly seeking to supply goods or services, in either case for the purpose of a Relevant Business; and

(ii)   with whom you or an Employee in a Relevant Business reporting directly to possession of confidential information about such customer or client in the performance of their duties to the 

Company or any Associated Company.

		
	(b)
	"Competitive Services" means goods or services identical or similar to or competitive with those which at the expiry of the Relevant Period the Company or any Associated Company was supplying or negotiating or actively and directly seeking to supply to a Customer for the purpose of a Relevant Business;

		
	(c)
	"Relevant Business" means the business of the Company or any Associated Company in which, pursuant to your duties, you were materially involved at any time during the Relevant Period.

		
	(d)
	"Territory" means England, Wales, Scotland and any other country or state in which the Company or any Associated Company is operating or planning to operate at the expiry of the Relevant Period. A business of the Company or any Associated Company will be operating within the Territory at the expiry of the Relevant Period if Relevant Services have been supplied during the Relevant Period. A business will be within the Territory if either any such business in which you are to be involved is located or to be located within the Territory or it is conducted or to be conducted wholly or partly within the Territory;

		
	(e)
	"Employee" means a person who is employed by or who renders services to the Company or any Associated Company in a Relevant Business in an advertising or managerial or marketing or sales or distribution or senior capacity and/or who has responsibility for or influence over customers or advertisers or who is in possession of confidential information about such customers or advertisers and who in either case was employed or so rendered services during the period of 12 months ending on the last day on which you actively worked under this Agreement for the Company or any Associated Company and who had dealings with you during that period.

"Relevant Period" means the period of twelve months ending on the last day of your employment or the   period of your employment if shorter than twelve months.

		
	11.3 
	Each sub-paragraph and part of such sub-paragraph of this paragraph 11 constitutes an entirely separate and independent restriction and does not operate to limit any other obligation owed by you, whether that obligation is express or implied by law.  If any restriction is held to be invalid or unenforceable by a court of competent jurisdiction, it is intended and understood by the parties that such invalidity or unenforceability will not affect the remaining restrictions.

		
	11.4 
	You acknowledge that before entering into this Agreement you had the opportunity to obtain legal advice and that each of the restrictions in this paragraph 11 goes no further than is necessary for the protection of the Company's and each Associated Company's legitimate business interests.

		
	11.5 
	Before accepting any offer of employment either during your employment or during the continuance of the restrictions in this paragraph 11, you will immediately provide to the person making such offer a complete signed copy of this Agreement.

    
		
	12.
	Continuing Obligations

The termination of your employment will not affect the rights and remedies of either party against the other in respect of any previous breach of its provisions nor will it affect the continuing obligations of either party under any provision of your employment which applies after it has terminated.

		
	13.
	Notices

All notices and other communications relating to your employment will take effect if delivered, 

upon delivery; if posted, at the earlier of the time of delivery and (if posted in the United Kingdom by first class post) 10.00am on the second business day after posting; or, if sent by facsimile, when a complete and legible copy of the communication has been received.

		
	14.
	Interpretation

		
	14.1    
	Definitions

In this letter the following words and phrases will have the meanings given below:

"Associated Company"        any company which for the time being is:

		
	(i)
	a holding company (as defined by Section 736 of the Companies Act 1985) of the Company;

		
	(ii)
	a subsidiary (as defined by Section 736 of the Companies Act 1985) of the Company or of any holding company of the Company;

		
	(iii)
	a company over which the Company has control within the meaning of Section 840 of the income and Corporation Taxes Act 1988; or

		
	(iv)
	a subsidiary undertaking as defined by Section 258 of the Companies Act 1985;

		
	"Board"
	the Board of Directors of the Company including any duly appointed committee or nominee of the Board;

		
	"Company"
	eFinancialNews Limited

		
	"day's salary"
	1/260th of your salary;

		
	"Effective Date" 
	start/contract date, or the date upon which your notice period under your current contract of employment expires, if later;

		
	“salary”
	the salary payable from time to time under paragraph 4.1;

		
	"termination" 
	the ending of your employment however it arises and irrespective of its cause or manner. Other than (in relation to paragraph 11) its wrongful termination by the Company.    

		
	14.2
	Construction

		
	(a)
	The provisions of Schedule 13, Part 1 of the Companies Act 1985 will apply in determining whether you have an interest in any shares or other securities.

		
	(b)
	References to acting directly or indirectly will include acting alone or jointly with or on behalf of or by means of another person and/or giving advice or providing services with a view to assisting another person.

		
	(c)
	References to a person will include an individual, firm, corporation and any other organisation however it is constituted and words denoting the singular shall include the plural and vice versa.

		
	(d)
	The paragraph headings have been added for convenience only and will not affect the construction of this Agreement.

15.    Miscellaneous

15.1    This Agreement replaces with immediate effect all terms previously agreed between us.

		
	15.2 
	The terms of this Agreement constitute the entire agreement between us and no variation or addition to it and no waiver of any provision will be effective unless in writing and signed by both parties.

		
	15.3 
	You will be accepting the terms of this letter on the basis that the Company is agreeing to its terms for itself and for each other Associated Company, with the intention that each such Company will be entitled to enforce the terms of this letter against you.

		
	15.4 
	The terms of this letter will be construed in accordance with English law and both parties irrevocably submit to the non-exclusive jurisdiction of the English Courts to settle any disputes which may arise in connection with your employment.

If you wish to accept the terms of this letter would you please sign and return the enclosed copy of this letter to me by the 26'h November 2004. In doing so, you will be confirming that you are not committing yourself to us in breach of any agreement with any other person and that you will not be restricted or prevented from undertaking or performing your duties by any such agreement. If I have not heard from you by this date the offer will be withdrawn automatically.

Yours sincerely

/S/ John Benson         
John Benson
Director

Accepted by  /S/ James Bennett                Date 23/11/2004     
James Bennett 

1 April 2005
Strictly Private and Confidential

James Bennett 
eFinancialCareers

Dear James Bennett
Further to our correspondence dated Monday 7th March 2005, please be advised of the following change to your contract of employment:

With effect from Friday 1st April 2005, you will be employed by eFinancialCareers Limited of Stapleton House, 29-33 Scrutton Street, London EC2A 4HU (the "Company") (your contract previously was with eFinancial News Limited).

In all other respects your general terms and conditions of employment remain as set out in your employment contract.

Please confirm your agreement to the above changes by signing and returning to me the enclosed copy letter.

Yours sincerely

/S/ Scheherazade Zekkar
Scheherazade Zekkar
Human Resources Manager
______________________________________________________________
I acknowledge receipt of the above statement and I confirm that I have read and understood the same and I am in agreement with the terms contained therein.

Signed:   /S/ James Bennett            Date:   05/04/2005

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