Document:

EXHIBIT 10.26

INDEMNIFICATION AGREEMENT

          THIS
INDEMNIFICATION AGREEMENT (this “Agreement”) is made as of the [___] day
of [____________], 20__, between TheStreet, Inc., a Delaware corporation (the “Company”),
and [______________] (“Indemnitee”). 

          WHEREAS,
Indemnitee is a member of the Board of Directors of the Company (the “Board
of Directors”) and/or an officer of the Company and in such capacity, or
capacities, is performing valuable services for the Company; and 

          WHEREAS,
the Company’s Restated Certificate of Incorporation, as amended (together with
the Company’s By-Laws, as amended, the “Governing Instruments”),
provides for the indemnification of the Company’s directors and officers to the
fullest extent authorized or permitted by law; and 

          WHEREAS,
Section 145 of the General Corporation Law of the State of Delaware (the “DGCL”)
specifically provides that it shall not be deemed exclusive of any other rights
to indemnification or advancement of expenses to which directors or officers
may be entitled under any by-law, agreement, vote of stockholders or
disinterested directors or otherwise; and 

          WHEREAS,
the number of lawsuits and stockholders’ derivative lawsuits against
corporations, their directors and officers has increased in recent years, such
lawsuits frequently are without merit and seek damages in amounts having no
reasonable relationship to the amount of compensation received by the directors
and officers from the corporation, and such lawsuits whether or not meritorious
are expensive and time-consuming to defend; and 

          WHEREAS,
adequate directors and officers liability insurance may not be available at a
reasonable cost; and 

          WHEREAS,
the Company desires that Indemnitee continue to serve as a director and/or an
officer of the Company free from undue concern for unpredictable or
unreasonable claims for damages by reason of Indemnitee’s status as a director
and/or an officer of the Company, by reason of Indemnitee’s decisions or actions
on the Company’ behalf or by reason of Indemnitee’s decisions or actions in
another capacity for the Company (including without limitation serving at the
request of the Company as a director, officer, member, manager, managing
director, partner, employee or agent of another corporation, limited liability
company, partnership, joint venture, trust or other enterprise (including,
without limitation, service with respect to any employee benefit plan)); and 

          WHEREAS,
the Board of Directors has determined that the Company’s entry into this
Agreement is not only reasonable and prudent but also promotes the best
interests of the Company and its stockholders; 

          NOW,
THEREFORE, in consideration of Indemnitee’s continued service as a director
and/or an officer of the Company and of other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties
hereto hereby agree as follows: 

          1. Indemnification.
Subject only to the exclusions set forth in this Agreement, the Company hereby
agrees (i) to hold harmless and indemnify Indemnitee, from time to time,
against any and all Expenses and Liabilities (as such terms are defined in
Section 1(h) below) to the fullest extent authorized 

or permitted by the DGCL (or any other applicable law), the Governing
Instruments in effect on the date hereof or as such law or the Governing
Instruments may from time to time be amended (but in the case of any such
amendment, only to the extent such amendment permits the Company to provide
broader indemnification rights than such law or Governing Instruments permitted
the Company to provide prior to such amendment) and (ii) to take all such
action as may reasonably be required or requested to carry out such
indemnification. Notwithstanding the foregoing, the Company shall not be
required to indemnify Indemnitee for any Expenses and/or Liabilities to the
extent that such amounts have been paid directly to or for the account of
Indemnitee pursuant to any directors and officers liability insurance policy
maintained by the Company. Without limiting the generality of the foregoing: 

                    (a)
Third Party Proceedings. The Company shall indemnify Indemnitee if
Indemnitee was or is a party or is threatened to be made a party to any
Proceeding (as defined in Section 1(h) below), other than a Proceeding by or in
the right of the Company, by reason of the fact that Indemnitee is or was a
director and/or an officer of the Company, or is or was serving at the request
of the Company as a director, officer, member, manager, managing director,
partner, employee or agent of another corporation, limited liability company,
partnership, joint venture, trust or other enterprise (including, without
limitation, service with respect to any employee benefit plan), against any and
all Expenses and Liabilities actually and reasonably incurred by Indemnitee or
on Indemnitee’s behalf in connection with such Proceeding, and any appeal
therefrom, provided that Indemnitee acted in good faith and in a manner
Indemnitee reasonably believed to be in or not opposed to the best interests of
the Company and, with respect to any criminal action or proceeding, had no
reasonable cause to believe Indemnitee’s conduct was unlawful. The termination
of any action, suit or proceeding by judgment, order, settlement, conviction or
upon a plea of nolo contendere or its equivalent shall not, of itself, create a
presumption that Indemnitee did not satisfy the foregoing standard of conduct
to the extent applicable thereto. 

                    (b)
Proceedings By or in the Right of the Company. The Company shall
indemnify Indemnitee if Indemnitee is or was a party or is threatened to be
made a party to any Proceeding by or in the right of the Company by reason of
the fact that Indemnitee is or was a director and/or an officer of the Company,
or is or was serving at the request of the Company as a director, officer,
member, manager, managing director, partner, employee or agent of another
corporation, limited liability company, partnership, joint venture, trust or
other enterprise (including, without limitation, service with respect to any
employee benefit plan), against any and all Expenses actually and reasonably
incurred by Indemnitee or on Indemnitee’s behalf in connection with the defense
or settlement of such Proceeding, and any appeal therefrom, if Indemnitee acted
in good faith and in a manner Indemnitee reasonably believed to be in or not
opposed to the best interests of the Company, except that no indemnification
shall be made in respect of any claim, issue or matter as to which Indemnitee
shall have been adjudged to be liable to the Company unless and only to the
extent that the Court of Chancery of the State of Delaware (the “Chancery
Court”) or the court in which such Proceeding was brought shall determine
upon application that, despite the adjudication of liability but in view of all
the circumstances of the case, Indemnitee is fairly and reasonably entitled to
indemnity for such Expenses which the Chancery Court or such other court shall
deem proper. 

                    (c)
Successful Defense. To the extent that Indemnitee has been successful on
the merits or otherwise in the defense of any Proceeding referred to in Section
1(a) or 1(b) above, or in the defense of any claim, issue or matter therein,
the Company shall indemnify Indemnitee against any and all Expenses actually
and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection
therewith. Dismissal of any Proceeding with prejudice, or a settlement not
involving any payment or assumption of liability, shall be deemed a successful
defense. 

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                    (d)
Partial Indemnification. If Indemnitee is entitled to indemnification
under any provision of this Agreement for a portion of the Expenses and/or
Liabilities actually and reasonably incurred by Indemnitee or on Indemnitee’s
behalf in the investigation, defense, appeal or settlement of any Proceeding,
but not, however, for the total amount thereof, the Company shall nevertheless
indemnify Indemnitee for the portion thereof to which Indemnitee is entitled. 

                    (e)
Advancement of Expenses. All Expenses incurred by Indemnitee or on
Indemnitee’s behalf in the investigation, defense or appeal of a Proceeding
referred to in either of Sections 1(a) and 1(b) of this Agreement, or in
enforcing Indemnitee’s rights under any provisions of this Agreement, shall be
paid by the Company in advance of the final disposition of such Proceeding in
the manner prescribed by Section 3 below. 

                    (f)
Amendments to Indemnification Rights. The Company shall not adopt any
amendment to its Governing Instruments, the effect of which would be to deny,
diminish or encumber Indemnitee’s rights to indemnity pursuant to the Governing
Instruments, the DGCL or any other applicable law as applied to any act or
failure to act occurring in whole or in part prior to the date (the “Effective
Date”) upon which the amendment was approved by the Board of Directors. In
the event that the Company shall adopt any amendment to its Governing
Instruments the effect of which is to change Indemnitee’s rights to indemnity
under such instruments, such amendment shall apply only to acts or failures to
act occurring entirely after the Effective Date thereof. The Company shall give
written notice to Indemnitee of any proposal with respect to any such amendment
no later than the date such amendment is first presented to the Board of
Directors (or any committee thereof) for consideration, and shall provide a
copy of any such amendment to Indemnitee promptly after its adoption. 

                    (g)
Indemnification for Expenses as a Witness. To the extent Indemnitee is,
or reasonably expects to be, by reason of the fact that Indemnitee is or was a
director and/or an officer of the Company (or is or was serving at the
Company’s request in any one or more of the capacities described in Sections
1(a) and 1(b) of this Agreement), a witness in any Proceeding, the Company
shall indemnify Indemnitee against any and all Expenses actually and reasonably
incurred by Indemnitee or on Indemnitee’s behalf in connection therewith. 

                    (h)
Certain Definitions. As used in this Agreement:

                              (i)
“Expenses” shall mean means any and all expenses to the fullest extent permitted by the
DGCL (or any other applicable law), the Governing Instruments in effect on the
date hereof or as such law or Governing Instruments may from time to time be
amended (but, in the case of any such amendment, only to the extent such
amendment broadens the range or amount of expenses that may be paid or
reimbursed relative to the range or amounts permitted before such amendment), including, without limitation, any and all
retainers, court costs, transcript costs, fees of experts, witness fees,
private investigators, travel expenses, duplicating costs, printing and binding
costs, telephone charges, postage, fax transmission charges, secretarial
services, delivery service fees, attorneys’ fees, and all other costs,
disbursements or expenses of the types customarily incurred in connection with
prosecuting, defending, preparing to prosecute or defend, investigating, being
or preparing to be a witness in, or otherwise participating in, a Proceeding or
in connection with seeking indemnification under this Agreement or enforcing
this Agreement in accordance with Section 3(g) below. Expenses also shall
include the foregoing expenses incurred in connection with any appeal resulting
from any action, suit or proceeding, including, without limitation, the
premium, security for, and other costs relating to any cost bond, supersedeas bond,
or other appeal bond or its equivalent. 

                              (ii)
“Liabilities” shall mean any and all obligations, indebtedness and
liabilities of any kind (including, without limitation, any and all claims, judgments, settlements,
fines, 

-3-

ERISA excise taxes, damages, losses,
deficiencies, costs, penalties, interest, expenses, charges, and fees) against
which the Company may, to the fullest extent permitted by the
DGCL (or any other applicable law), the Governing Instruments in effect on the
date hereof or as such law or Governing Instruments may from time to time be
amended (but, in the case of any such amendment, only to the extent such
amendment broadens the range or amount of liabilities that may be paid,
reimbursed or indemnified to an Indemnitee relative to the range or amounts
permitted before such amendment), agree to indemnify an Indemnitee.

                              (iii)
“Proceeding” shall mean any and all threatened, pending or completed
actions, suits or proceedings, whether civil, criminal, administrative or
investigative and whether formal or informal.

          2.
Limitations on Indemnification. No indemnity pursuant to
Section 1 above shall be paid by the Company: 

                    (a)
on account of any suit in which judgment in a final, non-appealable decision is
rendered against Indemnitee for an accounting of profits made from the purchase
or sale by Indemnitee of securities of the Company within the meaning of
Section 16(b) of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), or similar provisions of federal or state law; 

                    (b)
for Expenses incurred by or on behalf of Indemnitee, as a plaintiff, in a suit
against the Company or against one or more other directors and/or officers of
the Company (other than a suit brought by Indemnitee to enforce Indemnitee’s
rights to indemnification pursuant to this Agreement or as otherwise provided
in Section 6 below), unless such suit is authorized in advance by the Board of
Directors or such indemnification is required by law; 

                    (c)
if a final, non-appealable decision by a court having jurisdiction in the
matter shall determine that such indemnification is not lawful; or 

                    (d)
for amounts paid by Indemnitee in settlement of any Proceeding without the
Company’s written consent, which consent shall not be unreasonably withheld,
delayed or conditioned. 

          3. Indemnification
Procedures. 

                    (a)
Notice to the Company. Promptly after receipt by Indemnitee of notice of
the commencement of any Proceeding, Indemnitee shall, if a claim in respect
thereof is to be made against the Company under this Agreement, notify the
Company of the commencement thereof. Such notice shall set forth in reasonable
detail the events giving rise to such claim and the amount requested, if known.
Failure of Indemnitee to provide such notice shall not relieve the Company of
its obligations under this Agreement except to the extent (and only to the
extent) that the Company is materially prejudiced by such failure. 

                    (b) Notice to Insurers. If, at the
time of receipt of such notice, the Company has directors and officers
liability insurance in effect, the Company shall give prompt notice of the commencement
of such Proceeding to the insurer or insurers in accordance with the procedures
set forth in the respective policy or policies in favor of Indemnitee. The
Company shall thereafter take all necessary or desirable action to cause such
insurer or insurers to pay, on behalf of Indemnitee, all Expenses and
Liabilities payable as a result of such Proceeding and any appeal therefrom in
accordance with the terms of such policy or policies. 

-4-

                    (c)
Advancement of Expenses. Subject to Sections 3(d) and 3(e) below, the
Expenses reasonably incurred by Indemnitee or on Indemnitee’s behalf in
investigating, defending or appealing any Proceeding covered by Section 1
above, or in enforcing Indemnitee’s rights under any provisions of this
Agreement, shall be paid by the Company within 20 days of Indemnitee’s written
request therefor even if there has been no final disposition of such
Proceeding. Indemnitee’s written request shall state the amount requested and
shall be accompanied by copies of the invoices or other relevant documentation.

                    (d)
Undertaking to Repay Advances. Indemnitee undertakes and agrees, if and
to the extent required by applicable law, that Indemnitee shall reimburse the
Company for all advances of Expenses paid by the Company to or for the account
of Indemnitee under this Agreement with respect to any Proceeding or appeal
therefrom in the event and only to the extent that it shall ultimately be determined
that Indemnitee was not entitled to be indemnified under this Agreement with
respect to such Proceeding or appeal therefrom. 

                    (e)
Assumption of Defense by the Company. Except as otherwise provided
below, the Company, jointly with any other indemnifying party similarly
notified, will be entitled to assume the defense of any Proceeding or appeal
therefrom of which it has been notified by Indemnitee pursuant to Section 3(a)
above, with counsel reasonably satisfactory to Indemnitee; provided, however
that, without the prior written consent of Indemnitee, the Company shall not
settle, compromise or consent to the entry of any judgment in any such
Proceeding or appeal therefrom if and to the extent the such settlement,
compromise or judgment would impose (i) any injunctive relief or sanctions upon
Indemnitee or (ii) any Liability upon Indemnitee which Liability is not fully
satisfied and extinguished by the Company. After notice from the Company to
Indemnitee of its election to assume the defense thereof, the Company will not
be liable to Indemnitee under this Agreement for any legal or other Expenses
subsequently incurred by Indemnitee; provided, however, that
Indemnitee shall have the right to employ Indemnitee’s own counsel in such Proceeding
or appeal therefrom at the expense of the Company if, at any time after such
notice from the Company, (i) the employment of counsel by Indemnitee has been
authorized by the Company, (ii) Indemnitee shall have reasonably concluded that
there may be a conflict of interest between the Company and Indemnitee in the
conduct of such defense or appeal, or (iii) the Company shall not in fact have
employed counsel to assume the defense of such Proceeding or appeal therefrom,
in each of which cases the Expenses of Indemnitee’s counsel shall be subject to
reimbursement in accordance with the terms of this Agreement. The Company shall
not be entitled to assume Indemnitee’s defense or appeal of any Proceeding
brought by the Company or as to which Indemnitee shall have made the conclusion
provided for in clause (ii) of the preceding sentence. 

                    (f)
Determination of Right to Entitlement. 

                              (i)
In the event that Indemnitee incurs
liability for any Liabilities (or, to the extent not previously advanced
pursuant to Section 3(c) above, Expenses), and indemnification is sought
under this Agreement, the Company shall pay (or provide for payment if so
required by the terms of any judgment or settlement) the amount of such liability
within 20 days of Indemnitee’s written request therefor unless a determination
is made within such 20 day period that the claims giving rise to such request
are excluded or indemnification is otherwise not due under this Agreement. Such
determination, and any determination required by applicable law as to whether
Indemnitee has met the standard of conduct required to qualify and entitle
Indemnitee, partially or fully, to indemnification under Section 1 of this
Agreement, shall be made, at the Company’s discretion, (x) by the Board of
Directors by a majority vote of the directors who were not parties to such
Proceeding even though less than a quorum, or (y) if such a majority is not
obtainable, or even if obtainable a majority of the disinterested directors so
directs, by written opinion of “independent legal counsel” (as defined below)
selected by the Company and reasonably satisfactory to Indemnitee, or (z) by
the Company’s stockholders; provided, however, that 

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if a “change of control” (as defined below) has occurred, such
determination shall be made by written opinion of independent legal counsel
selected by Indemnitee or, if requested by Indemnitee, by the Company. 

	
  

 	
  

 
	
  

 	
           (A) The
 term “change of control” shall mean: (x) the consummation of any transaction
 after which any “person” or “group” (as such terms are used in Sections
 3(a)(9), 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934 (the
 “Exchange Act”)), other than the Current Holders (as defined below), is or
 becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange
 Act), directly or indirectly, of securities, or possesses the power to vote
 or control the vote of securities, of the Company representing 20% or more of
 the combined voting power of the Company’s outstanding capital stock; or (y)
 the consummation of any merger or consolidation of the Company with any other
 corporation or entity, other than a merger or consolidation which would
 result in the voting securities of the Company outstanding immediately prior
 thereto continuing to represent (either by remaining outstanding or by being
 converted into voting securities of the surviving entity) at least a majority
 of the combined voting power of the voting securities of the Company or such
 surviving entity outstanding immediately after such merger or consolidation;
 or (z) the stockholders of the Company approve a plan of complete liquidation
 of the Company or an agreement for the sale or disposition by the Company of
 all or substantially all of the Company’s assets. As used herein, “Current
 Holders” means James J. Cramer and Martin Peretz and their respective
 Affiliates (as such term is defined in Rule 12b-2 of the General Rules and
 Regulations under the Securities Exchange Act of 1934, as in effect on the date
 of this Agreement).

 
	
  

 	
  

 
	
  

 	
           (B) The
 term “independent legal counsel” shall mean for this purpose an attorney or
 firm of attorneys experienced in matters of corporation law that is not now
 nor has within the previous three years been retained to represent
 Indemnitee, the Company or any other party to the Proceeding or appeal
 therefrom giving rise to the claim for indemnification hereunder; provided
 that “independent legal counsel” shall not include any person who under
 applicable standards of professional conduct would have a conflict of
 interest in representing Indemnitee or the Company in an action to determine
 Indemnitee’s rights under this Agreement. 

 
	
  

 	
  

 
	
                               
 (ii) Notwithstanding the foregoing, Indemnitee may within 60 days after a
 determination adverse to Indemnitee has been made as provided above, or if no
 determination has been made within 20 days of Indemnitee’s written request
 for payment, petition the Chancery Court or any other court of competent
 jurisdiction, or may seek an award in arbitration to be conducted by a single
 arbitrator pursuant to the rules of the American Arbitration Association,
 which award shall be deemed final, unappealable and binding, to determine
 whether Indemnitee is entitled to indemnification under this Agreement, and
 such court or arbitrator, as the case may be, shall thereupon have the
 exclusive authority to make such determination unless and until such court or
 arbitrator dismisses or otherwise terminates such action without having made
 a determination. The court or arbitrator, as the case may be, shall make an
 independent determination of entitlement irrespective of any prior
 determination made by the Board of Directors, independent legal counsel or
 stockholders. In any such action before the court or arbitrator, Indemnitee
 shall be presumed to be entitled to indemnification and the Company shall
 have the burden of proving that indemnification is not required under this
 Agreement. All fees and expenses of any arbitrator pursuant to this provision
 shall be paid by the Company.

 

-6-

                    (g)
Enforcement Expenses. In the event that Indemnitee brings suit or takes
any other action to enforce Indemnitee’s rights or to collect monies due under
this Agreement, and if Indemnitee is successful therein, in whole or in part,
or if not successful, Indemnitee nevertheless acted in good faith in bringing
such suit or taking such other action, the Company shall reimburse (to the
extent not previously advanced) Indemnitee for all of Indemnitee’s reasonable
Expenses in any such suit or action. 

          4. Continuation
of Indemnification. The Company’s obligations to indemnify Indemnitee
hereunder shall continue throughout the period Indemnitee is a director and/or
an officer of the Company (or is serving at the Company’s request in any one or
more of the capacities described in Sections 1(a) and 1(b) above) and
thereafter so long as Indemnitee shall be subject to any possible claim or
Proceeding or appeal therefrom by reason of the fact that Indemnitee was a
director and/or an officer of the Company (or was serving in such other
capacities). 

          5. Successors
and Assigns. This Agreement shall be binding upon the Company, its
successors and assigns (including, without limitation, any transferee of all or
substantially all of its assets and any successor by merger or otherwise by
operation of law), and shall inure to the benefit of Indemnitee and
Indemnitee’s heirs, personal representatives, executors and administrators and
shall be binding upon Indemnitee and Indemnitee’s successors in interest under
this Agreement. 

          6. Rights
Not Exclusive. The rights provided hereunder shall not be deemed exclusive
of any other rights to which Indemnitee may be entitled under any provision of
law, the Governing Instruments, other agreement, vote of stockholders or of
disinterested directors or otherwise. 

          7. Subrogation.
Upon payment of any amount under this Agreement, the Company shall be
subrogated to the extent of such payment to all of Indemnitee’s rights of
recovery therefor and Indemnitee shall take all reasonable actions requested by
the Company to secure such rights, including, without limitation, execution of
all documents necessary to enable the Company to enforce such rights. 

          8. Severability.
In the event that any provision of this Agreement shall be held by a court of
competent jurisdiction to be invalid, illegal or unenforceable for any reason,
such provision shall be limited or modified in its application to the minimum
extent necessary to avoid a violation of law, and, as so limited or modified,
such provision and the balance of this Agreement shall be enforceable in
accordance with their terms. 

          9. Integration.
This Agreement embodies the entire agreement and understanding between the
parties hereto with respect to the subject matter hereof and supersedes all
prior agreements and understandings relating to the subject matter hereof. 

          10. Modification
and Waiver. No amendment, modification, termination or cancellation of this
Agreement shall be effective unless in writing signed by both parties hereto. No waiver shall be effective unless made in a
writing signed by the party against whom enforcement of such waiver is sought. No
waiver of any term or condition or of any breach of this Agreement shall be
deemed a continuing waiver or a waiver of any other term or condition or of any
later breach of the Agreement. All rights and remedies, whether conferred by
this Agreement, by any other instrument or by law, shall be cumulative, and may
be exercised singularly or concurrently.

          11. Notices.
All notices given under this Agreement shall be in writing and delivered either
(i) personally, (ii) by registered or certified mail (postage prepaid, return
receipt requested), (iii) by recognized overnight courier service or (iv) by
telecopy (if promptly followed by a copy delivered as provided in clauses (i),
(ii) or (iii) above), as follows: 

-7-

	
  

 	
  

 	
  

 	
  

 
	
  

 	
 If to
 Indemnitee:

 	
  

 	
 [NAME]

 
	
  

 	
  

 	
  

 	
 [ADDRESS]

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
 If to the
 Company:

 	
  

 	
 TheStreet,
 Inc.

 14 Wall Street, 15th Floor

 New York, New York 10005

 Attn: General Counsel

 

or to such other address as a party may have specified by written
notice to the other party given in the manner set forth above. Notices
hereunder given as provided above shall be deemed to be duly given upon
delivery if delivered personally, three business days after mailing if by
registered or certified mail, one business day after mailing if by overnight
courier service and upon confirmation of transmission if by telecopy.

          12. Interpretation.
Section references are to this Agreement, unless otherwise specified. The
captions in this Agreement are for convenience only and shall not in any way
affect the meaning or construction of any provisions of this Agreement.

          13. Counterparts.
This Agreement may be executed in counterparts, all of which, taken together,
shall be considered one and the same agreement, it being understood that
counterparts may be delivered by facsimile or in PDF format and signatures
delivered by such means shall be deemed originals for all purposes.

          14. Governing
Law. This Agreement shall be interpreted and enforced in accordance with
the laws of the State of Delaware without regard to principles of conflicts of
laws.

 [Signature page follows.]

-8-

          IN WITNESS
WHEREOF, the parties hereto have executed this Agreement on and as of the day
and year first above written.

	
  

 	
  

 	
  

 	
  

 
	
  

 	
 THESTREET,
 INC.

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
 By:

 	
  

 	
  

 
	
  

 	
  

 	

 

 	
  

 
	
  

 	
  

 	
 Name:

 	
  

 
	
  

 	
  

 	
 Title:

 	
  

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	

 

 	
  

 
	
  

 	
  

 	
 [NAME OF
 DIRECTOR/OFFICER]

 	
  

 

-9-EXHIBIT 10.43

December 21, 2011

Mr. Daryl R.
Otte

Chief Executive Officer

TheStreet, Inc.

14 Wall Street, 15th Floor

New York, New York 10005

Dear Daryl:

                    TheStreet,
Inc. (the “Company”) greatly appreciates the accomplishments you have made
during your tenure at the Company, both during almost a decade of service on
the Company’s Board of Directors (“Board”) and in guiding the Company
and its rejuvenation over the last three years as Chief Executive Officer.
Recently, you and members of the Board have mutually determined that the timing
would be appropriate to transition your role to a new Chief Executive Officer,
over the course of an orderly transition period. This letter (the “Agreement”)
sets forth the agreement between you and Company related to the above and to
certain other matters described herein. The parties hereby agree as follows:

	
  

 	
  

 	
  

 
	
  

 	
 1.

 	
 You shall continue to provide your full time services to the Company
 as Chief Executive Officer and a member of the Board, through March 31, 2012
 or such earlier date as the Company may specify by written notice given to
 you or on the event of your death (March 31, 2012 or such earlier date, the “Separation
 Date”). Upon the Separation Date, you shall resign all your positions
 with the Company and its direct or indirect subsidiaries (including as a
 member of the Board of the Company or any of its direct or indirect
 subsidiaries) and your employment with Company and its direct and indirect
 subsidiaries shall terminate on the Separation Date. Through the Separation
 Date, as may be requested by the Chairman of the Board, (i) you shall
 cooperate with the Board in its efforts to recruit a new Chief Executive
 Officer for the Company; (ii) provide assistance to any such newly hired
 Chief Executive Officer as he or she may request in connection with his or
 her assumption of such role (upon the hiring of which person your title shall
 be changed to Special Advisor to the Chief Executive Officer); and (iii)
 perform specific requested activities consistent with your role as Chief
 Executive Officer (or Special Advisor to the Chief Executive Officer),
 including without limitation (A) if required in order for the Company to be
 in compliance with securities laws, signing, as Chief Executive Officer and
 principal executive officer, and delivering your signature to the Company
 promptly upon request the Company’s Form 10-K for the fiscal year ended
 December 31, 2011 (“2011 Form 10-K”) in the form signed by the Company’s
 Chief Financial Officer (unless you have a reasonable objection to such form,
 in which case you promptly shall advise the Company of such objection and
 shall work with the Company diligently and in good faith to seek to agree on
 a revision to the form that will resolve such objection), together with signing
 the certifications to be filed as Exhibits 31.1 and 32.1 thereto, (B)
 signing, as Chief Executive Officer and principal executive officer, and
 delivering your signature to the Company promptly upon request, the
 management representation letter to the Company’s independent registered
 public accounting firm in connection with its audit of the Company’s
 financial statements as of and for year ending December 31, 2011 (the “2011
 Audit”) in the form signed by the Company’s Chief Financial Officer (unless
 you have a reasonable objection to such form, in which case you promptly
 shall advise the Company of such objection and shall work

 

	
  

 	
  

 	
  

 
	
  

 	
  

 	
 with
 the Company diligently and in good faith to seek to agree on a revision to
 the form that will resolve such objection) and (C) taking other steps that
 reasonably may be requested by the Company in order to facilitate the timely
 completion of the 2011 Audit and the timely filing of the 2011 Form 10-K.

 
	
  

 	
  

 	
  

 
	
  

 	
 2.

 	
 Through March 31, 2012 (or through the Separation Date, if the
 Separation Date is earlier than March 31, 2012 as a result of the Company
 terminating your employment for Cause (as defined in the Severance
 Agreement)), you shall be paid a base salary at a rate of $450,000 per annum,
 payable in installments in accordance with the Company’s standard payroll
 practices and you shall remain eligible for benefits in accordance with the
 Company’s standard policies. In addition, the Company shall pay on your
 behalf and without reimbursement by you (for a period of twelve (12) months
 following the Separation Date), the full cost of premiums for continuation of
 any benefits that you are eligible under COBRA to elect to (and do elect to)
 continue. 

 
	
  

 	
  

 	
  

 
	
  

 	
 3.

 	
 Within thirty (30) days of your Separation Date but in no event later
 than April 30, 2012, you shall be paid the lump sum of $900,000 plus payment
 of any accrued and unused vacation time in accordance with the Company’s
 standard policies, subject to your execution and delivery to the Company of a
 release (the “Release”) in the form specified by and otherwise in
 accordance with Section 14 of the Change of Control and Severance Agreement
 dated as of June 9, 2009 between you and Company, as amended pursuant to
 Amendment No. 1 thereto dated as of March 28, 2011 (the “Severance Agreement”);
 for the avoidance of doubt, the Company shall not be obligated to make any
 payment to you hereunder unless and until you have delivered the Company a
 copy of the Release executed by you within thirty (30) days following the
 Separation Date (but in no event prior to the Separation Date) and the seven
 (7) day revocation period with respect to the Release has expired without the
 Release having been revoked by you. For the further avoidance of doubt, this
 Agreement shall be deemed to be one of the “Applicable Agreements” as such
 term is defined in the Release. The payment specified in this Paragraph 3
 shall be in lieu of any payment that otherwise may be due to you pursuant to
 Section 1 of the Severance Agreement.

 
	
  

 	
  

 	
  

 
	
  

 	
 4.

 	
 The Company shall make applicable tax and benefits withholdings from
 any payments due to you pursuant to this Agreement (including without
 limitation pursuant to Paragraphs 2, 3, 7 and 8 hereof) in accordance with
 the Company’s standard policies. For the avoidance of doubt, you shall continue
 to be entitled to elect (a “Net Exercise Election”) pursuant to the
 June 2009 RSU Grant Agreement (as defined below) and March 2011 RSU Grant
 Agreement (as defined below) (each an “RSU Grant Agreement”) to have
 the Company withhold, in connection with the vesting of restricted stock
 units (“RSUs”) pursuant to each RSU Grant Agreement, a number of
 shares of Common Stock otherwise deliverable to you in connection with the
 vesting of RSUs under such RSU Grant Agreement having a Fair Market Value (as
 defined in the applicable RSU Grant Agreement) equal to the minimum amount of
 any required withholding tax obligation in connection with the vesting of
 such RSUs. 

 
	
  

 	
  

 	
  

 
	
  

 	
 5.

 	
 The parties agree that at present, there currently are (i) 520,000
 unvested RSUs subject of the agreement between the parties dated as of June
 9, 2009 captioned “Agreement for Grant of Restricted Stock Units Under 2007
 Performance Incentive Plan” (the “June 2009 RSU Grant Agreement”) (and
 that 130,000 RSUs subject of the June 2009 RSU Grant Agreement previously
 have vested and been settled by delivery of shares of Common Stock, together
 with accumulated dividend equivalents thereon); (ii) 50,000 unvested 

 

	
  

 	
  

 	
  

 
	
  

 	
  

 	
 RSUs subject of the agreement between the parties dated as of March
 28, 2011 captioned “Agreement for Grant of Restricted Stock Units Under 2007
 Performance Incentive Plan” (the “March 2011 RSU Grant Agreement”);
 (iii) 180,000 unexercisable options subject of the agreement between the
 parties dated as of March 28, 2011 captioned “Agreement for Grant of Stock
 Options Under 2007 Performance Incentive Plan” (the “March 2011 Option
 Agreement”); and (iv) no agreements between the parties other than those
 specified in the foregoing clauses (i)-(iii) of this sentence that relate to
 any stock options, stock appreciation rights, restricted stock, RSUs or other
 stock-based awards. All the agreements referenced in clauses (i), (ii) and
 (iii) of the immediately preceding sentence were issued under TheStreet.com,
 Inc. 2007 Performance Incentive Plan, as amended and restated effective May
 27, 2010 (the “Plan”).

 
	
  

 	
  

 	
  

 
	
  

 	
 6.

 	
 On the Separation Date,

 

	
  

 	
  

 	
  

 
	
  

 	
 (i)

 	
 all unvested RSUs subject of the June 2009 RSU Grant Agreement
 immediately shall become vested; and

 
	
  

 	
  

 	
  

 
	
  

 	
 (ii)

 	
 provided that your employment with the Company is not terminated by
 the Company after the date hereof for Cause (as defined in the March 2011 RSU
 Grant Agreement), (a) 12,500 unvested RSUs subject to the March 2011 RSU
 Grant Agreement immediately shall become vested; (b) vesting of the remaining
 37,500 unvested RSUs subject to the March 2011 RSU Grant Agreement shall be
 suspended and such RSUs will be automatically forfeited and expire on July 1,
 2012 unless a definitive agreement, tender offer or a letter of intent
 respecting a Change of Control (as such term is defined in the Plan)
 transaction involving the Company (a “Change of Control Agreement”) is
 entered into or received (as the case may be) by the Company subsequent to
 the date hereof but prior to July 1, 2012, in which case the remaining 37,500
 will be automatically forfeited and expire on January 1, 2013 unless a Change
 of Control as contemplated by such Change in Control Agreement is consummated
 by December 31, 2012 in which case the remaining 37,500 RSUs shall
 immediately vest upon concurrent with the consummation of the Change of
 Control; (c) 45,000 options subject to the March 2011 Option Agreement shall
 become exercisable and remain exercisable for 180 calendar days after the
 Separation Date (following which date the options immediately shall be
 terminated and expire) and (d) 135,000 options subject to the March 2011
 Option Agreement shall only vest and become exercisable if a Change of
 Control Agreement is entered into or received (as the case may be) by the
 Company subsequent to the date hereof but prior to July 1, 2012 and a Change
 of Control as contemplated by such Change in Control Agreement is consummated
 by December 31, 2012 and if no Change of Control Agreement is entered or
 received subsequent to the date hereof but prior to July 1, 2012 or no a
 Change of Control as contemplated by such Change in Control Agreement is
 consummated by December 31, 2012, then the 135,000 unvested options
 automatically shall be terminated and expire; and

 
	
  

 	
  

 	
  

 
	
  

 	
 (iii)

 	
 in the event that your employment with the Company is terminated by
 the Company after the date hereof for Cause, (a) all RSUs subject to the
 March 2011 RSU Grant Agreement immediately shall be forfeited and expire; (b)
 all options subject to the March 2011 Option Agreement Letter shall
 immediately be terminated and expire and (c) such termination shall not
 affect, terminate or release the Company’s obligations to make payments under
 Paragraph 3, 7 or 8 

 

	
  

 	
  

 	
  

 
	
  

 	
  

 	
 of this Agreement or the vesting of any of the 520,000 RSUs under the
 June 2009 RSU Grant Agreement; and.

 
	
  

 	
  

 	
  

 
	
  

 	
 (iv)

 	
 all accrued dividends on an unvested RSU will be paid as provided in
 the applicable RSU Grant Agreement upon the vesting of the RSU. For the
 avoidance of doubt, if the Company’s record date for a dividend occurs prior
 to the date of vesting of an RSU you shall be paid such dividends on such RSU
 even if the shares of Common Stock underlying that RSU are withheld under a
 Net Exercise Election. 

 

	
  

 	
  

 	
  

 
	
  

 	
 7.

 	
 You shall receive payment of a bonus for 2011 pursuant to the Company’s
 Short Term Cash Incentive Program (adopted by the Compensation Committee of
 the Company’s Board (the “Compensation Committee”) in February 2011,
 the “2011 Incentive Program”) at a time and in a manner consistent
 with the payments made to the Company’s other named executive officers
 pursuant to the 2011 Incentive Program. The amount of your bonus pursuant to
 the 2011 Incentive Program shall be calculated in a manner no less favorable
 than for the bonus pursuant to the 2011 Incentive Program for the Company’s
 other named executive officers but in no case shall the 2011 bonus be less
 than the amount determined solely as a function of the amount of the
 Company’s 2011 Revenue and “Adjusted EBITDA” as set forth in Schedule A
 to the Agreement for Grant of Cash Performance Award Under 2007 Performance
 Incentive Plan dated February 11, 2011 and the amount of the 2011 bonus may
 not be reduced or lowered in the discretion of the Company’s Board or any
 committee that administers the Plan or for any other reason.

 
	
  

 	
  

 	
  

 
	
  

 	
 8.

 	
 Within ninety (90) days of the Separation Date, the Compensation
 Committee shall determine the amount you will receive as a bonus with respect
 to services you render to the Company in 2012 (a “2012 Bonus”). The
 2012 Bonus shall be not less than one twelfth (1/12) of the 2011 bonus that
 you are paid under Paragraph 7 of this Agreement.

 
	
  

 	
  

 	
  

 
	
  

 	
 9.

 	
 Each party agrees that the termination of your services to the
 Company (effective as of the Separation Date), is not related to any change
 in ownership, change in effective control, or change in the ownership of a
 substantial portion of the assets of the Company or to a Change of Control
 (as defined in the Plan and as may be otherwise defined in any agreement
 between the parties).

 

	
  

 	
  

 	
  

 	
  

 
	
  

 	
 10.

 	
 (i)

 	
 Notwithstanding any provision of this Agreement to the contrary, if
 you are a “specified employee” as determined by the Board or the Compensation
 Committee in accordance with Section 409A of the Internal Revenue Code of
 1986, as amended or any regulations or Treasury guidance promulgated
 thereunder (“Section 409A”), you shall not be entitled to any payments
 of amounts which constitute deferred compensation within the meaning of
 Section 409A upon a termination of your employment until the earlier of (a)
 the date which is six (6) months after the termination of you employment for
 any reason other than death (except that during such six (6) month period you
 may receive total payments from the Company that do not exceed the amount
 specified in Treas. Reg. Section 1.409A-1(b)(9) or that constitute a
 short-term deferral within the meaning of Section 409A), or (b) the date of
 your death. 

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
 (ii)

 	
 If any provision of this Agreement or of any award of compensation,
 including equity compensation or benefits would cause you to incur any
 additional tax or 

 

	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
  

 	
 interest under Section 409A, the parties agree to negotiate in good
 faith to reform such provision in such manner as to maintain, to the maximum
 extent practicable, the original intent and economic terms of the applicable
 provision without violating the provisions of Section 409A.

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
 (iii)

 	
 Notwithstanding any provision of this Agreement to the contrary, to
 the extent any compensation or award which constitute deferred compensation
 within the meaning of Section 409A shall vest upon the occurrence of a Change
 of Control (as defined in the applicable agreement) and such Change of
 Control does not constitute a “change in the ownership or effective control”
 or a “change in the ownership of a substantial portion of the assets” of the
 Company within the meaning of Section 409A, then notwithstanding such
 vesting, payment will be made to you on the earliest of (a) your
 “separation from service” with the Company (determined in accordance with
 Section 409A) (or, if you are a specified employee within the meaning of
 Section 409A, such later date as provided in clause (i) of this Paragraph
 10), (b) the date payment otherwise would have been made, or
 (c) your death.

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
 (iv)

 	
 For the avoidance of doubt, the terms and conditions of Section 2 of
 the Severance Agreement survive the execution of this Agreement and apply to
 any compensation, payment or distribution by Company to or for your benefit
 under, pursuant to, or in connection with, this Agreement. 

 

	
  

 	
  

 	
  

 
	
  

 	
 11.

 	
 Except as may be expressly set forth above, this Agreement does not
 modify or amend any existing written agreement between the parties, each of
 which remains otherwise unmodified and in full force and effect (including
 without limitation any provisions relating to post-employment covenants,
 “claw-back” provisions and the indemnification agreement in your favor).

 
	
  

 	
  

 	
  

 
	
  

 	
 12.

 	
 This Agreement sets forth the
 entire agreement of the parties with respect to the subject matter hereof and
 supersedes all prior agreements, written or oral, between the parties in
 connection therewith. Neither party is relying on any
 representations, whether written or oral, not set forth in this Agreement, in
 determining to execute this Agreement. No modification to this Agreement shall be binding unless in writing
 and signed by both parties. A failure of either party to exercise any right
 provided for herein shall not be deemed to be a waiver of any right
 hereunder. This Agreement shall be governed by the laws of the State of New
 York, without reference to its principles of conflicts of law that otherwise
 might call for application of the law of another jurisdiction. The state and
 federal courts located in New York, New York shall have sole and exclusive
 jurisdiction over any dispute arising out of or related to this Agreement,
 and each party hereby expressly consents to the jurisdiction of such courts
 with respect to any such dispute and waives any objection, whether on
 the grounds of venue, residence or domicile or on the ground that the
 proceeding has been brought in an inconvenient forum, to any such proceeding
 brought in such courts. This is an agreement for your personal services and
 you may not delegate the performance of your duties specified herein to any
 third party. Signatures manually made and delivered via facsimile or in
 electronic format (e.g., .pdf) shall be deemed originals for all purposes.
 Each party acknowledges that by signing below, the party has read,
 understands and accepts each of the terms of this Agreement, that the party
 has had sufficient opportunity to review the Agreement and consult with an
 attorney or other advisor, and that the party is entering into this Agreement
 freely and knowingly and not under duress. The terms of this Agreement shall
 not be interpreted in 

 

	
  

 	
  

 	
  

 
	
  

 	
  

 	
 favor of or against any party on account of the draftsperson, but
 shall be interpreted solely for the purpose of giving effect to the intent of
 the parties.

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 By signing below, each party confirms that their agreement with the
 above.

 

	
  

 	
  

 	
  

 
	
  

 	
  

 	
 Sincerely,

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 THESTREET,
 INC.

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 /s/
 Christopher Marshall

 
	
  

 	
  

 	

 

 
	
  

 	
 By:

 	
 Christopher
 Marshall

 
	
  

 	
  

 	
 Chairman of
 the Board

 

	
  

 	
  

 
	
 ACCEPTED AND
 AGREED:

 
	
  

 	
  

 
	
 /s/ Daryl
 Otte

 	
  

 
	

 

 	
  

 
	
 Daryl R.
 Otte

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