Document:

EX-10.12

 Exhibit 10.12 
  

 
 June 27, 2014 

Rupert Murdoch 
 Executive Chairman 

News Corporation 
 1211 Avenue of the Americas 

New York, NY 10036 
 Re: Annual Cash Incentive and
Performance-Based Long-Term Incentive 
 Dear Rupert: 
 The
purpose of this letter (the “Agreement”) is to address the treatment of your annual cash incentive and long-term incentive awards upon the occurrence of certain termination events. In the event of any conflict between this Agreement and
any award agreement or terms and conditions notice relating to any long-term incentive awards, this Agreement shall control. 
 Annual Cash Incentive

 To the extent you are eligible to receive an annual cash incentive (the “Annual Bonus”) as determined by the Compensation Committee of the
Board of Directors of News Corporation (the “Company”), such Annual Bonus will be subject to the following provisions upon any event of termination: 

Termination due to death or Disability (as defined below) —You shall be entitled to receive any Annual Bonus payable but not yet
paid in respect of any fiscal year prior to the date such termination occurs and a pro rata portion of the Annual Bonus you would have earned for the fiscal year of such termination had no termination occurred. Such pro rata portion shall be
calculated based on the target opportunity and based on the number of days you were employed by the Company in the fiscal year during which your employment terminated compared to the total number of days in such fiscal year. 

Termination for any reason other than death or Disability (as defined below) —You shall be entitled to receive any Annual Bonus
payable but not yet paid in respect of any fiscal year prior to the date such termination occurs and a pro rata portion of the Annual Bonus you would have earned for the fiscal year of such termination had no termination occurred. Such pro rata
portion shall be calculated based solely on the Compensation Committee’s assessment of Company financial and operational performance as compared to the Company’s annual budget established in connection with the Annual Bonus described
herein, provided that any threshold criteria established by the Compensation Committee as a condition of the payment of the Annual Bonus is satisfied. 

 Performance-Based Long-Term Incentive 

In addition, you shall be eligible to participate in the News Corporation Performance-Based Long-Term Incentive Program (the “PSU Program”). Your
awards under the PSU Program will be subject to the following provisions upon any event of termination: 
 Any type of termination on or
prior to the last day of the first fiscal year of the applicable Performance Period —The entire award will be forfeited. 

Termination other than for Cause (as defined below), including termination due to Retirement (as defined below), that occurs within the
second or third fiscal years of the applicable Performance Period — You shall be entitled to receive the full value of any award which will be calculated at the end of the Performance Period as if no termination had occurred and such award
shall be payable when such award would have been paid had no termination occurred. 
 Termination by the Company for Cause (as defined
below) that occurs within the second or third fiscal years of the applicable Performance Period —You shall be entitled to receive the pro rata value of any award which will be calculated at the end of the Performance Period based on
(a) the payout that you would have received if no termination had occurred multiplied by (b)(1) the number of days you were employed by the Company during the Performance Period divided by (2) the total number of days in such Performance
Period. 
 For purposes of this Agreement: 

“Disability” shall mean if you are unable to engage in any substantial gainful activity by reason of any medically determinable
physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months. 

“Retirement” shall mean your resignation or termination of employment after attainment of age 60 with ten years of service with the
Company or any of its affiliates so long as you are not then employed by another company. 
 “Cause” shall mean (a) a
deliberate and material breach by you of your duties and responsibilities that results in material harm to the Company and its affiliates which breach is committed without reasonable belief that such breach is in, or not contrary to, the best
interests of the Company, and is not remedied within 30 days after receipt of written notice from the Company specifying such breach, (b) your plea of guilty or nolo contendere to, or nonappealable conviction of, a felony, which conviction or
plea causes material damage to the reputation or financial position of the Company, or (c) your addiction to drugs or alcohol that results in a material breach of your duties and responsibilities and that results in material harm to the Company
and its affiliates, which addiction is not remedied within 30 days after receipt of written notice from the Company specifying such breach. 
  

			
	Sincerely,
	
	NEWS CORPORATION
		
	By:	 	 /s/ Michael L. Bunder

		 	Name: Michael L. Bunder
		 	Title: Senior Vice President,
		 	          Deputy General Counsel &
		 	          Corporate Secretary

  
 2Exhibit 10.1

 

SEVENTH
AMENDMENT TO

CONSULTING
AGREEMENT

DATED
AS OF JULY 2, 2012 BETWEEN

NTN
BUZZTIME, INC. AND JABAM, INC.

 

 

The
following amendment to the above-referenced Agreement between NTN BUZZTIME, INC. and JABAM INC. are made and effective as of July
1, 2014.

 

		A.	Section
                                         2.1 is amended to read, in its entirety, as follows:

 

The
term of this Agreement shall commence on July 1, 2014 (the "Effective Date") and, unless earlier terminated in accordance
with Section ‎7 shall expire on September 30, 2014.

 

 

 

	NTN
    BUZZTIME, INC.	 	 	JABAM,
    INC.
	 	 	 	 	 	 
	 	 	 	 	 	 
	By:
    	/s/
    Jenna Lynch		 	By:
    	/s/
    Jeffrey A. Berg
	 	Authorized
    Signature	 	 	 	Authorized
    Signature
	 	 	 	 	 	 
	 	Jenna
    Lynch	 	 	 	Jeffrey
    A. Berg
	 	Print
    Name	 	 	 	Print
    Name
	 	 	 	 	 	 
	 	VP
    Human Resources	 	 	 	Chairman
	 	Title	 	 	 	Title
	 	 	 	 	 	 
	 	July
    1, 2014	 	 	 	July
    1, 2014
	 	Date	 	 	 	DateExhibit 10.2

 

 

 

May 6, 2014

William Thomas

 

 

 

Re: Offer of Employment

Dear Bill:

NTN Buzztime, Inc. ("Buzztime") is pleased to offer you the position of Senior Vice President of Marketing, reporting
to Bob Cooney, Chief Operating Officer. Your anticipated start date will be Monday, May 12, 2014. This offer and your employment
relationship will be subject to the terms and conditions of this letter.

Your initial salary will be $7,692.31 per pay period ($200,000.00 annualized), less applicable withholdings, paid bi-weekly in
accordance with Buzztime's normal payroll practices. Future adjustments in compensation, if any, will be made by Buzztime in its
sole and absolute discretion. This position is exempt therefore you will not receive overtime pay if you work more than (8) hours
in a workday or (40) hours in a workweek.

 

You will be eligible to participate in a Personal Incentive Plan
("the Incentive Plan") subject to Buzztime’s Board of Directors’ approval. The intention of the Incentive
Plan is to motivate you to focus on and maximize your efforts to achieve Buzztime's corporate goals.

Also, subject to Buzztime's Board of Directors' approval, you will be granted non-qualified stock options (to the fullest extent
allowed under current legal limitations) to purchase 200,000 shares of Buzztime's common stock in accordance with the NTN Buzztime,
Inc. 2010 Employee Stock Option Plan (the "Plan") and related option documents. Notwithstanding any terms of the Plan
to the contrary, your stock options will be priced at the closing price on the date you commence employment with the company, subject
to Board approval. On the first anniversary of employment, 25% of the total number of shares of common stock will vest and the
remaining 75% of the total number of shares shall become vested in 36 substantially equal monthly installments thereafter.

 

Between your start date of May, 2014 and estimated permanent relocation
in July, 2014, your Supervisor and you will agree upon a commuting schedule and Buzztime will cover the agreed upon expenses (round
trip flights to Buzztime, hotel accommodations, meals and car rental for one person) according to our Expense Guidelines and upon
approval.  Your travel will be booked through our Human Resources department.  You will be given an allowance of $16,000
for the physical move of your household goods and cars to San Diego. Buzztime will pay the vendors directly. Within your first
week of employment, you will be given a one-time, lump sum payment of $10,000 to cover any miscellaneous travel expenses.

 

 

 

 

2231 rutherford rd. suite
200               carlsbad, ca 92008               760.438.7400               buzztime.com

    	 

    	 

    

 

 

 

Portions or possibly all of the payment
may be subject to withholding taxes such as federal, state and local income or other taxes as may be required pursuant to any
applicable law or regulation.  Buzztime recommends you consult a professional for further advice and instruction
regarding taxation of employment relocation.

 

You will also be eligible for all benefits
available to other full-time Buzztime employees, in accordance with Buzztime's benefit plan documents. Such benefits include participation
in Buzztime's medical, dental, vision, life and other group insurance programs on the first of the month following your hire date
and participation in Buzztime's 401(k) Program with enrollment occurring quarterly on 1/1, 4/1, 7/1 and 10/1. Buzztime reserves
the right to change or eliminate these benefits on a prospective basis at any time.

If you accept our offer, your employment with Buzztime will be "at-will." This means your employment is not for any
specific period of time and can be terminated by you at any time for any reason. Likewise, Buzztime may terminate the employment
relationship at any time, with or without cause or advance notice. In addition, Buzztime reserves the right to modify your position,
duties or reporting relationship to meet business needs and impose appropriate discipline. Any change to the at-will employment
relationship must be by a specific, written agreement signed by you and Buzztime's Chief Executive Officer.

 

While your accepted employment is at-will, you will receive continuation
of your then current base salary for a period of 3 (three) months in the event of termination without “Cause” or for
“Good Reason” during the first year of your employment. For clarity, should any termination occur after the first anniversary
of employment, no severance payment shall be due to you.

 

		·	As used herein, “Cause” shall mean, as reasonably determined
by the Board,

		o	any act of personal dishonesty by you in connection with your responsibilities as an employee of the Company which is intended
to result in substantial personal enrichment or is reasonably likely to result in harm to the Company,

		o	you commit any act of fraud, embezzlement, dishonesty or other willful misconduct or you are convicted of a felony, which the
Board reasonably believes has had or will have a detrimental effect on the Company’s reputation or business,

		o	a willful act by you which constitutes misconduct and is materially injurious to the Company,

		o	continued willful violations by you of your obligations to the Company after there has been delivered to you a written demand
for performance from the Company which describes the basis for the Company’s belief that you have willfully violated your
obligations to the Company.

 

 

 

 

2231 rutherford rd. suite
200               carlsbad, ca 92008               760.438.7400               buzztime.com

    	 

    	 

    

 

 

 

		·	As used herein, “Good Reason” shall mean the occurrence
of any of the following events, without your consent:

		o	Resignation by you within 30 days of a material diminution in your responsibilities and duties or a substantial change in the
core business of Buzztime instituted by a CEO not holding that position on the date of this offer letter (Good Reason shall not
include a change in title or in reporting lines or the reassignment following a change of control to a position substantially similar
to the position held prior to the change of control ); and

		o	A material reduction in your then-current base salary, other than as part of reductions in compensation of other similarly
situated employees.

 

This offer is contingent upon the following:

- Signing Buzztime's Ethics Policy (See enclosed);

- Compliance with federal I-9 requirements (please bring suitable documentation with you on your first day of work verifying your
identity and legal authorization to work in the United States);

- Satisfactory completion of a background investigation to include criminal, credit, education verification and reference checks;

- Signing Buzztime's Arbitration Agreement;

This letter, including the enclosed Ethics Policy, constitutes the entire agreement between you and Buzztime relating to this subject
matter and supersedes all prior or contemporaneous agreements, understandings, negotiations or representations, whether oral or
written, express or implied, on this subject. This letter may not be modified or amended except by a specific, written agreement
signed by you and Buzztime's Chief Executive Officer.

This offer will expire on May 9, 2014. To indicate your acceptance of Buzztime's offer on the terms and conditions set forth in
this letter, please sign and date this letter in the space provided below.

We hope your employment with Buzztime will prove mutually rewarding, and I look forward to having you join us.

Sincerely,

Bob Cooney

Chief Operating Officer

 

 

 

 

2231 rutherford rd. suite
200               carlsbad, ca 92008               760.438.7400               buzztime.com

    	 

    	 

    

 

 

I have read this offer letter in its entirety and agree to the terms and conditions of employment. I understand and agree that
my employment with Buzztime is at-will, which means either you or Buzztime may terminate the employment relationship at any time
with or without cause or advance notice.

 

	May 6, 2014	 	 	/s/ William Thomas	 
	Date	 	 	William Thomas	 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2231 rutherford rd. suite
200               carlsbad, ca 92008               760.438.7400               buzztime.com

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