Document:

EX-10.1

 Exhibit 10.1 

COMSCORE INC. 
 119
Democracy Drive 
 Suite 600 

Reston, Virginia 20190 

December 26, 2020 
 Starboard Value and
Opportunity Master Fund Ltd 
 Starboard Value and Opportunity Master Fund L LP 

Starboard Value and Opportunity S LLC 
 Starboard Value and
Opportunity C LP 
 Account Managed by Starboard Value LP 

Starboard X Master Fund Ltd 
 777 Third Avenue, 18th Floor 

New York, NY 10017 
 Attention: Jeffrey C. Smith 

Facsimile: 212-845-7989 

Telephone: 212-845-7977 

E-mail: jsmith@starboardvalue.com 

With a copy to: 
 Schulte Roth & Zabel LLP 

919 Third Avenue 
 New York, New York 10022 

Telephone: (212) 756-2000 

Facsimile: (212) 593-5955 

Attention: Eleazer N. Klein, Esq. 

E-mail: eleazer.klein@srz.com 
  

	 	Re:	 comScore, Inc. Senior Secured Convertible Notes 

Reference is hereby made to the Senior Secured Convertible Notes (the “Notes”) of comScore, Inc. (the
“Company”), which are currently held by Starboard Value and Opportunity Master Fund Ltd, Starboard Value and Opportunity Master Fund L LP, Starboard Value and Opportunity S LLC, Starboard Value and Opportunity C LP, Starboard Value
LP, in its capacity as the investment manager of a certain managed account, and Starboard X Master Fund Ltd (the “Holders”). Terms used but not defined herein shall have the meanings set forth in the Notes. 

Each of the Holders hereby agrees to the following terms and conditions with respect to the Interest payment due on January 4, 2021
pursuant to the terms of the Notes: 
  

	 	(i)	 Notwithstanding the definition of “Interest Conversion Price” set forth in Section 31(gg) of the
Notes, “Interest Conversion Price” shall have the following meaning solely with respect to the Interest Date of January 4, 2021: 

 “Interest Conversion Price” means with respect to the Interest Date
occurring on January 4, 2021, the lower of (x) that price which shall be the arithmetic average of the Weighted Average Prices of the Common Stock on each Trading Day during the period starting and including December 16, 2020 and
ending and including December 24, 2020 and (y) that price which shall be the arithmetic average of the Weighted Average Prices of the Common Stock on each Trading Day during the period starting on and including the earlier of (I) the
first (1st) Trading Day immediately following the filing by the Company of the Public Filing (as defined in the Confidentiality Agreement by and between the Company and Starboard Value LP, dated
as of the date hereof) and (II) January 15, 2021, and ending on and including the tenth (10th) Trading Day immediately following such earlier date (such tenth (10th) Trading Day, the “End Date”). All such determinations to be appropriately adjusted for any stock split, stock dividend, stock combination, reclassification or other similar
transaction occurring during such period. 
  

	 	(ii)	 The Interest Shares due to the Holders with respect to the Interest payment due on January 4, 2021
pursuant to the terms of the Notes, as modified by the foregoing, shall be delivered to the Holders on the first (1st) Trading Day immediately following the End Date. 

All questions concerning the construction, validity, enforcement and interpretation of this letter agreement shall be governed by the internal
laws of the State of New York, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of New York or any other jurisdictions) that would cause the application of the laws of any jurisdictions other than
the State of New York. The Company hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in The City of New York, Borough of Manhattan, for the adjudication of any dispute hereunder or in connection
herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court,
that such suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper. The Company hereby irrevocably waives personal service of process and consents to process being served in any
such suit, action or proceeding by mailing a copy thereof to the Company at the address set forth in Section 9(f) of the Securities Purchase Agreement and agrees that such service shall constitute good and sufficient service of process and
notice thereof to the fullest extent enforceable under applicable law. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. Nothing contained herein shall be deemed or operate to
preclude the Holders from bringing suit or taking other legal action against the Company in any other jurisdiction to collect on the Company’s obligations to the Holders, to realize on any collateral or any other security for such obligations,
or to enforce a judgment or other court ruling in favor of the Holders. THE COMPANY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR
ARISING OUT OF THIS NOTE OR ANY TRANSACTION CONTEMPLATED HEREBY. 

  
 2 

 This letter may be executed by any one or more of the parties hereto in any number of
counterparts, each of which shall be deemed to be an original, but all such counterparts shall together constitute one and the same instrument. 

[Signature Pages Follow] 

  
 3 

 If the foregoing is in accordance with your understanding, please sign and return to us one
counterpart hereof, and upon the acceptance hereof by you, this Agreement and such acceptance hereof shall constitute a binding agreement between the parties hereto. 

 

			
	Very truly yours,
	
	COMSCORE, INC.
		
	By:	 	 /s/ Greg Fink

	Name: Greg Fink
	Title:   CFO

 [Signature Page to Side Letter] 

 The foregoing Agreement is hereby confirmed and accepted as of the date first above written.

 STARBOARD VALUE AND OPPORTUNITY MASTER FUND LTD 

			
	By: Starboard Value LP, its investment manager
		
	By:	 	 /s/ Peter Feld

	Name: Peter Feld
	Title: Authorized Signatory

 STARBOARD VALUE AND OPPORTUNITY
MASTER FUND L LP 

			
	By: Starboard Value L LP, its general partner
		
	By:	 	 /s/ Peter Feld

	Name: Peter Feld
	Title: Authorized Signatory
	
	STARBOARD VALUE AND OPPORTUNITY S LLC
	By: Starboard Value LP, its manager
		
	By:	 	 /s/ Peter Feld

	Name: Peter Feld
	Title: Authorized Signatory
	
	STARBOARD VALUE AND OPPORTUNITY C LP
	By: Starboard Value R LP, its general partner
		
	By:	 	 /s/ Peter Feld

	Name: Peter Feld
	Title: Authorized Signatory

  
 [Signature Page to
Side Letter] 

 STARBOARD VALUE LP, in its capacity as the investment manager of a certain managed account 

			
	By: Starboard Value GP, LLC, its general partner
		
	By:	 	 /s/ Peter Feld

	Name: Peter Feld
	Title: Authorized Signatory
	
	STARBOARD X MASTER FUND LTD
	By: Starboard Value LP, its investment manager
		
	By:	 	 /s/ Peter Feld

	Name: Peter Feld
	Title: Authorized Signatory

  
 [Signature Page to
Side Letter]Exhibit 10.1

 

SEPARATION AGREEMENT

 

This Separation
Agreement (the “Agreement”) is made and entered into this 24th day of December, 2020, by and between Keith F. Lavan
(“Employee”) and Metuchen Pharmaceuticals, LLC (“Metuchen” or the “Company”).

 

WHEREAS, Employee
is currently employed by Metuchen as its SVP, Chief Financial Officer; and

 

WHEREAS, Employee
and Metuchen mutually desire to end Employee’s employment with Metuchen and all of its parents, subsidiaries and affiliates
(the “Company”), effective December 31, 2020 (the “Separation Date”).

 

NOW, THEREFORE,
IT IS HEREBY AGREED by and between Employee and Metuchen as follows:

 

1.            Effective
on the Separation Date, Employee’s employment with the Company shall terminate and, effective as of such time, Employee
hereby resigns in lieu of termination from any and all positions he holds with the Company as of such date. As of the date of
this Agreement, Employee’s role with the Company will change from its SVP, Chief Financial Officer to an
 “Advisor”. In his role as Advisor, Employee will not be expected or required to perform his normal, historical
services for the Company, but shall work with and report to Tania King of Juggernaut Capital relating to his required duties
through the Separation Date. On the Separation Date in addition to the consideration to be paid pursuant to Section 2 below,
Employee shall be paid for any unused vacation, paid-time off and/or sick days as of the Separation Date to the same extent
as any other terminated employee of the Company.

 

2.            In exchange for Employee’s execution of this Agreement and Employee’s agreement to be legally bound by its terms, the
Company agrees to provide the following:

 

		a.	Salary and Benefits Continuation Prior to the Separation Date – The Company agrees
to pay Employee’s regular monthly rate of compensation as of the Effective, minus all payroll deductions required by law
or authorized by the Employee, and to continue Employee’s benefits (including the use of the Company vehicle), through the
Separation Date, pursuant to the Company’s normal payroll practices. Employee acknowledges that his employment could have
been terminated by the Company as of the date on which
Employee’s active service will cease, and that the Company’s willingness to continue to employ Employee through the
Separation Date, and to provide Employee
with continued payment of salary and continued benefits (including healthcare benefits) provides Employee with valuable consideration
to which Employee would not otherwise have been entitled.

 

		b.	Stay on Bonus – Provided that Employee remains employed with the Company in good standing
through the Separation Date, the Company agrees to pay Employee a stay-on bonus of $50,000 on the Separation Date.

 

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		c.	Continuation Pay – The Company agrees to pay severance in the form of (i) an amount
equal to 50% of Employee’s base salary, at Employee’s regular monthly rate of compensation as of the Separation Date,
70% of such amount shall be payable in a lump sum on January 15, 2021 and 30% of such amount shall be paid in equal installments
from the Separation Date through June 30, 2021 in accordance with the Company’s payroll practices, in each case, less all
applicable deductions and withholdings required by law or authorized by Employee; and (ii) reimbursement to Employee for the cost
of the Company’s portion of any continuation coverage for health insurance premiums under the Company’s group health
plans elected by Employee pursuant to the Consolidated Omnibus Budget

 

Reconciliation Act of 1985 (COBRA)
(i.e., the Company’s reimbursement will be at the same rate of the Company’s cost sharing as in effect from time to
time for active employees of the Company), from the Separation Date through June 30, 2021.

 

		d.	Retention of Computer – The Company agrees to permit Employee to retain
                                                            Employee’s Company-issued lap-top computer, provided that the Company or its designee may be permitted to permanently
                                                            delete all proprietary software, information and data from the device by the Company before the computer is delivered to the
                                                            Employee.

 

		e.	D&O Coverage. The Company shall cover Employee for his period of employment with the
Company under its directors’ and officers’ liability insurance policy to the extent it covers its other officers and
directors.

 

Notwithstanding the foregoing,
the payments and benefits described in this Sections 2(b)-(e) will be subject to Employee’s December 31, 2020 execution and
non-revocation of a General Release in the form attached hereto as Exhibit A (the “Release”) and Employee’s compliance
with the limitations set forth in Sections 3 and 4 of this Agreement. Except as set forth in this Agreement, it is expressly agreed
and understood that the Company does not have, and will not have, any obligations to provide Employee at any time in the future
with any payments, benefits or considerations other than those recited in this Section, or those required by law, other than under
the terms of any benefit plans which provide benefits or payments to former employees according to their terms. Employee understands
and agrees that the payments, benefits and agreements provided in this Agreement are being provided to him in consideration for
Employee's acceptance and execution of, and in reliance upon, Employee's representations in, this Agreement and the Release. Employee
acknowledges that if Employee had not executed this Agreement containing a release of all claims against the Releasees set forth
in the Release, including, without limitation, the covenants relating to confidentiality and non-disparagement set forth in Sections
3 and 4 below, and if he does not execute the Release after his termination of employment with Company, Employee would not have
been and will not be entitled to the payments and benefits set forth above. 

 

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3.
Employee acknowledges that by reason of Employee's duties to, and association with, the Company, Employee has had, and prior
to the Separation Date will continue to have, access to, and has, and prior to the Separation Date will continue to, become
informed of, confidential business information which is a competitive asset of the Company. Employee further acknowledges
that protection of such confidential business information and trade secrets against unauthorized disclosure and use is of
critical importance to the Company in maintaining their competitive position. Employee hereby agrees that Employee will not,
at any time during or after his employment by the Company, make any unauthorized disclosure of any confidential business
information or trade secrets of the Company, or make any use thereof, except in the carrying out of his responsibilities
hereunder. Employee shall take all necessary and appropriate steps to safeguard confidential business information and protect
it against disclosure, misappropriation, misuse, loss and theft. Confidential business information shall not include
information in the public domain (but only if the same becomes part of the public domain through a means other than a
disclosure prohibited hereunder). The above notwithstanding, a disclosure shall not be unauthorized if (i) it is required by
law or by a court of competent jurisdiction or (ii) it is in connection with any judicial, arbitration, dispute resolution or
other legal proceeding in which Employee's legal rights and obligations as an employee or under this Agreement are at issue;
provided, however, that Employee shall, to the extent practicable and lawful in any such events, give prior notice to the
Company of his intent to disclose any such confidential business information in such context so as to allow the Company at
its sole cost and expense an opportunity (which Employee will not oppose) to obtain such protective orders or similar relief
with respect thereto as may be deemed appropriate. Nothing herein shall prevent Employee from testifying in any cause of
action when required to do so by process of law. All written materials, records, and other documents made by, or coming into
the possession of, Employee during the period of Employee's employment by the Company or thereafter which contain or disclose
confidential business information or trade secrets of the Company shall be and remain the property of the Company. Upon the
Separation Date, Employee promptly shall deliver the same, and all copies thereof, to the Company.

 

4.           
Employee agrees not to make any critical or negative statements and will not disparage or otherwise take any action in
writing or verbally which could reasonably be expected to adversely affect the Company’s reputation or the personal or
professional reputation of any of its owners, affiliates directors, officers, agents or employees or their operations,
procedures, activities, services, policies and practices. Notwithstanding the foregoing, nothing in this Agreement is
intended to or shall be interpreted to restrict: (i) Employee’s obligation to testify truthfully in any forum, (ii)
Employee’s right and/or obligation to contact, cooperate with or provide information to any government agency or
commission or to make a protected disclosure as part of any legal process; (iii) Employee’s rights under Section 7 of
the National Labor Relations Act or (iv) pursue any rights and claims under this Agreement. Company agrees to direct its
officers and directors not to make any defamatory or derogatory statements concerning the Employee. Notwithstanding the
foregoing, nothing in this Agreement is intended to or shall be interpreted to restrict: (i) the Company’s obligation
to testify truthfully in any forum, or (ii) pursue any rights and claims under this Agreement. Company agrees that it shall
respond to any inquiry received relative to Employee, the dates of employment and last position held by Employee.

 

    	 	Page 3 of 5	 

    	 	 	 

    

 

5.          Nothing
in this Agreement, restricts or prohibits Employee from initiating communications directly with, responding to any inquiries
from, providing testimony before, providing confidential information to, reporting possible violations of law or regulation
to, or from filing a claim or assisting with an investigation directly with a self-regulatory authority or a government
agency or entity, including the U.S. Equal Employment Opportunity Commission, the Department of Labor (“DOL”),
the National Labor Relations Board (“NLRB”), the Department of Justice (“DOJ”), the Securities and
Exchange Commission (“SEC”), the Financial Industry Regulatory Authority (“FINRA”), the Congress, and
any agency Inspector General (collectively, the “Regulators”), or from making other disclosures that are
protected under the whistleblower provisions of state or federal law or regulation. Employee is hereby notified that federal
law provides criminal and civil immunity to federal and state claims for trade secret misappropriation to individuals who
disclose a trade secret to their attorney, a court, or a government official in certain, confidential circumstances that are
set forth at 18 U.S.C. §§ 1833(b)(1) and 1833(b)(2), related to the reporting or investigation of a suspected
violation of the law, or in connection with a lawsuit for retaliation for reporting a suspected violation of the law.
However, to the maximum extent permitted by law, Employee is waiving his right to receive any individual monetary relief from
the Company or any affiliate or related entity of the Company resulting from such claims or conduct, regardless of whether he
or another party has filed them. This Agreement does not limit Employee’s right to receive an award from any Regulator
that provides awards for providing information relating to a potential violation of law. Employee does not need the prior
authorization of the Company to engage in such communications with the Regulators, respond to such inquiries from the
Regulators, provide confidential information or documents to the Regulators, or make any such reports or disclosures to the
Regulators. Employee is not required to notify the Company that he has engaged in such communications with the
Regulators.

 

6.          Employee acknowledges and agrees that this Agreement and the Release supersede any other agreement Employee has with the
Company as to the subjects set forth in this Agreement. Except as set forth expressly herein, no promises or representations have
been made to Employee in connection with the terms of this Agreement or the Release.

 

7.          Employee agrees not to disclose the terms of this Agreement or the Release to anyone, except Employee's spouse, attorney and, as
necessary, tax/financial advisor. It is expressly understood that any material violation of the confidentiality obligation imposed
hereunder constitutes a material breach of this Agreement.

 

8.          Employee agrees and recognizes that should Employee breach any of the obligations or covenants set forth in this Agreement,
the Company will have no further obligation to provide Employee with the consideration set forth herein, and will have the right
to seek repayment of all consideration paid up to the time of any such breach to the fullest extent permitted by applicable law.
Further, Employee acknowledges in the event of a breach of this Agreement, the Releasees under the Release may seek any and all
appropriate relief for any such breach, including equitable relief and/or money damages, attorneys' fees and costs.

 

9.          Employee
agrees that following the Separation Date he will make himself available, upon reasonable notice and under reasonable
conditions, to assist the Company in any capacity with respect to matters of which he was involved or had knowledge while
employed by the Company. Without limitation, such assistance may include providing information or documents, cooperating with
investigations, negotiations, lawsuits or administrative proceedings involving the Company, preparing for and giving
testimony including written declarations or statements, and other similar activities. Employee understands that the Company
will reimburse him for all reasonable, documented out-of-pocket expenses incurred as a result of the obligations under this
paragraph. The Company also agrees to compensate Employee at a reasonable hourly rate to be agreed upon by the Company and
Employee, which agreement shall not be unreasonably withheld, for Employee’s time spent in consultation or preparation
with the Company and/or its attorneys or representatives (but not for time spent testifying) pursuant to this Paragraph.

 

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10.        
The laws of New Jersey, exclusive of laws relating to conflicts of laws, shall govern the validity of this Agreement, the construction
of its terms, and the interpretation of the rights and duties of the parties.

 

11.        
This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, executors, personal
representatives, successors and assigns; provided that the services provided by Employee under this Agreement are of a personal
nature, and rights and obligations of Employee under this Agreement shall not be assignable or delegable, except for any death
payments otherwise due Employee, which shall be payable to the estate of Employee; provided further the Company may assign
this Agreement to, and all rights hereunder shall inure to the benefit of, any subsidiary or affiliate of the Company or any person,
firm or corporation resulting from the reorganization of the Company or succeeding to the business or assets of the Company by
purchase, merger, consolidation or otherwise; and provided further that in the event of Employee’s death, any unpaid
amount due to Employee under this Agreement shall be paid to Employee’s estate.

 

12.        
The parties specifically acknowledge that this Agreement may be executed in counterparts and that facsimile or other copies hereof,
including signature pages, shall be as valid and enforceable as originals.

 

INTENDING to be legally bound, the parties
have executed this Agreement on the date indicated below.

 

	 	/s/ Keith F. Lavan
	 	Keith F. Lavan
	 	 	 	 
	 	Date:	12-24-2020
	 	 	 	 
	 	Metuchen Pharmaceuticals, LLC
	 	 	 	 
	 	By:	/s/ John D. Shulman
	 	 	Name:	John D. Shulman
	 	 	Title:	 
	 	 	 	 
	 	Date:	12-24-2020

 

    	 	Page 5 of 5

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