Document:

Exhibit 10.8

 Exhibit 10.8 
 EMPLOYMENT AGREEMENT 
 THIS EMPLOYMENT AGREEMENT (this
“Agreement”) is dated as of March [__], 2013, and effective as of the Merger Date (defined below) (the “Effective Date”), by and between PROFESSIONAL DIVERSITY NETWORK, INC., a Delaware corporation (the
“Company”), and RUDY MARTINEZ (“Executive”). 
 RECITALS: 

A. Executive is a founding member, manager, employee and the CEO of the iHispano.com business division of Professional Diversity Network,
LLC, an Illinois limited liability company (the “LLC”), which is the predecessor of the Company and is engaged in the business of developing and operating online networks dedicated to serving diverse professionals in the United
States and designing, developing and hosting online job boards for clients (the “Business”). 
 B. The LLC
plans to engage in an initial public offering of its equity interests (the “IPO”), and the LLC and its members have entered into a certain Contribution Agreement and Plan of Reorganization and Merger pursuant to which the members of
the LLC shall contribute all of the outstanding membership interests of the LLC to the Company, following which the LLC shall merge with and into the Company and the assets of the LLC shall be the assets of the Company (the
“Merger,” the date of the Merger, “Merger Date”); 
 C. After the Merger, the Company desires
to retain the services of Executive and Executive desires to be retained by the Company, all on the terms and conditions set forth below. 
 NOW, THEREFORE, in consideration of the covenants, representations and warranties contained herein, the parties hereto agree as follows: 

1. Employment. The Company hereby employs, and Executive hereby accepts such employment and agrees to serve the Company, upon the
terms and conditions set forth in this Agreement. 
 2. Employment Period. Subject to the provisions of Section 7
below, the initial term of Executive’s employment pursuant to this Agreement shall commence on the Effective Date and continue until the one (1) year anniversary of the Effective Date (the “Initial Employment Period”).
Thereafter, unless the Employment Period has been previously terminated, Executive shall continue his employment with the Company hereunder on an “at-will” basis, subject to termination by the Company at any time for any reason whatsoever,
with or without cause, in accordance with Section 7 below. The Initial Employment Period and any period of continuing employment of Executive by the Company thereafter is referred to herein as the “Employment Period.”

 3. Duties and Responsibilities. Executive shall serve as Executive Vice President of the Company and Chief Executive
Officer of the iHispano.com business division of the Company, and Executive shall have such normal and customary duties and responsibilities commensurate with his position, subject to the general supervision of the Company’s Board of Directors
(the “Board”). Executive shall devote his best efforts and all of his business time and attention to the business and affairs of the Company and shall diligently, faithfully and competently perform his duties and responsibilities
hereunder; provided however that the foregoing shall not preclude Executive from engaging in charitable and community affairs and managing his personal investments to the extent they do not unreasonably interfere with his duties and obligations
hereunder. 

 4. Compensation and Related Matters. 

(a) Base Salary. The Company will pay Executive an annual base salary (“Base Salary”) of Two Hundred Thousand
Dollars ($200,000), payable in substantially equal monthly or more frequent installments in accordance with the Company’s normal and customary payroll practices. The Board may review and further adjust Executive’s Base Salary from time to
time in its sole and absolute discretion, provided that during the Employment Period the Company may not decrease Executive’s Base Salary below the amount set forth in this section. Any such increased Base Salary shall be and become the
“Base Salary” for purposes of this Agreement. 
 (b) Expense Reimbursement. The Company shall reimburse
Executive for all reasonable business expenses properly incurred by Executive in the ordinary course of performing his duties and responsibilities hereunder, subject to the Company’s normal and customary practices and policies as are in effect
from time to time with respect to travel, entertainment and other business expenses (including the Company’s reasonable requirements with respect to prior approval, reporting and documentation of such expenses). 

(c) Benefits. The Company will provide or offer for Executive’s participation such benefits (other than life insurance,
bonus, incentive compensation, pension, profit sharing, equity participation and severance benefits) as are generally provided or offered by the Company to its other senior executive employees, including, without limitation, health/major medical
insurance, life insurance, disability insurance and welfare benefits, sick days and other fringe benefits (collectively, “Benefits”), if and to the extent that Executive is eligible to participate in accordance with the terms of the
applicable Benefit plan or program generally and subject to any required contributions. 
 (d) Bonus. Executive shall be
eligible for an annual bonus based upon the financial results achieved by the Company for the fiscal year. The amount of such bonus, if any, and the manner in which it is paid shall be determined in the sole and absolute discretion of the Board (or
the Compensation Committee). 
 (e) Withholding. All salary, bonus and other compensation described in this Agreement
shall be subject to withholding for federal, state or local taxes, amounts withheld under applicable benefit policies or programs, and any other amounts that may be required to be withheld by law, judicial order or otherwise. 

(f) Right of Setoff; Recoupment. The Company shall have the right to offset any amounts due from Executive to the Company against
any amounts owed by the Company to Executive under this Agreement. Compensation payable to Executive shall be subject to applicable securities rules and Company policies regarding recapture or claw back, and the Grantee shall reimburse the Company
any amount previously paid that is subject to such recapture or claw back provision. 
 5. Executive Work Product and
Inventions. 
 (a) Transfer of Ownership of Inventions. Executive agrees that Inventions (as defined below) shall be
deemed “work made for hire” and shall be the property of the Company. Executive shall promptly disclose to the Company all such Inventions and hereby irrevocably assigns to Company all such Inventions and all such worldwide right, title
and interest therein. Executive hereby waives and agrees not to assert any moral rights or similar rights under the laws of any jurisdiction with respect to any Inventions. Executive further agrees to execute or cause to be executed any and all

  
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assignment documents or other documents that may be necessary to perfect the ownership rights of the Company in such Inventions or to secure the Company’s statutory protection (including,
without limitation, patent, trademark, trade secret or copyright protection) throughout the world for any and all such Inventions. For purposes hereof, “Invention” means all work product, including, without limitation, any and all
creative works, discoveries, ideas, inventions, designs, devices, models, prototypes, processes, works, know-how, documentation, files, information, manuals, materials, input materials and output materials, software programs or packages (together
with any related documentation, source code or codes, object codes, upgrades, revisions, modifications and any related materials) and other information and materials, and the media upon which they are located (including cards, tapes, discs and other
storage facilities), which are conceived, created, developed, reduced to practice, fixed in a tangible medium of expression or otherwise made by Executive solely or jointly with others in connection with or arising from Executive’s employment
hereunder (whether or not during regular business hours). 
 (b) Illinois Employee Patent Act. Executive acknowledges and
understands, the foregoing to the contrary notwithstanding, that this section does not waive or transfer Executive’s rights to any Inventions for which no equipment, supplies, facility or trade secret or Confidential Information (as defined
herein) of the Company was used and which was developed entirely on Executive’s own time, unless the Invention relates to the business of the Company or to the Company’s research or development or the results of any work that Executive
performed for the Company during the term of Executive’s employment relationship with the Company (or its predecessor). Executive further acknowledges and understands that the assignment of ownership rights in Inventions pursuant to this
section are intended to comply with the requirements of the Illinois Employee Patent Act 765 (ILCS 1060/1 et seq.), and that the above-stated conditions should be interpreted in a manner consistent therewith. 

6. Non-Solicitation, Non-Competition and Confidentiality. Executive acknowledges that he has been and will continue to be employed
by the Company directly or indirectly in one or more aspects of the research, development, engineering, manufacturing, design, promotion and/or sale relating to the Company’s existing or proposed products and services. Executive further
acknowledges that he will be exposed to certain confidential and proprietary information of the Company and its Affiliates (as defined herein) during the course of his employment with the Company. Executive’s involvement or participation in a
business which is competitive with the Company or any of its Affiliates, disruption of the Company’s or any of its Affiliates’ business relationships, or misappropriation or unauthorized use of the Company’s or any of its
Affiliates’ confidential and proprietary information would have a material adverse impact on the Company and its Affiliates and their business operations. Accordingly, as a condition to the Company’s employment of Executive hereunder,
Executive hereby agrees as follows: 
 (a) Certain Definitions. For purposes hereof: 

“Affiliate” means, with respect to the Company, (i) the Company’s present and former parent companies,
subsidiaries, successors, affiliated and related companies, and (ii) a person or entity, directly or indirectly through one or more intermediaries, that is in control of, or controlled by, or under common control with, the Company; 

“Competitive Business” means any person or entity engaged in a business similar to or competitive with the Business as
it is or was conducted by the Company wherever the Company does business during the Employment Term at any time during the Restricted Period (including such business as the Company may develop from time to time); 

“Current Customer” means any individual or entity which is or was a client of the Company (or its predecessor) or any
Affiliate during the twenty-four (24) months preceding the date of the termination of Executive’s employment; 

  
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 “Prospective Customer” means any individual or entity with which Executive
has solicited, identified or had contact on behalf of the Company or any Affiliate during the twenty-four (24) months preceding the date of the termination of Executive’s employment; and 

“Restricted Period” means the period of Executive’s employment with the Company or any Affiliate and two
(2) years thereafter. 
 (b) Non-Interference with Business Relationships. Executive hereby agrees that during the
Restricted Period, Executive will not directly or indirectly, either individually or as a principal, shareholder, member, partner, joint venturer, investor, employer, director, manager, officer, employee, consultant, agent, or in any other manner or
capacity whatsoever: 
 (i) solicit, induce, advise, request, influence, or take any other action with regard to any sales
representative, supplier, customer, lessor, or any other person or entity that has a business relationship with the Company or any Affiliate (or has or had a business relationship with the Company’s or any Affiliate’s predecessors) which
is intended to or has the effect of causing such person or entity to discontinue, reduce the extent of, discourage the development of or otherwise adversely affect such relationship with the Company or any of the Affiliates; 

(ii) canvass, solicit, promote or sell any products or services that compete with any of the products or services of the Company or any
of the Affiliates to any then Current Customer or Prospective Customer of the Company or any of the Affiliates; or 
 (iii) (A)
recruit, solicit, or otherwise induce or influence any employee, consultant, sales representative, agent, or other personnel of the Company or any of the Affiliates to discontinue or otherwise terminate such relationship with the Company or any of
the Affiliates or (B) retain, engage, employ, seek to retain, engage, or employ, or cause any Competitive Business (as defined herein) to retain, engage, employ, or seek to retain, engage, or employ as an employee, consultant, sales
representative, or agent, any person who is then (or was at any time within twelve (12) months prior to the date Executive or the Competitive Business retains, engages, or employs or seeks to retain, engage, or employ such person) an employee,
consultant, sales representative, agent, or other personnel of the Company or any of the Affiliates (or their predecessors). 

(c) Non-Competition. Executive hereby agrees that during the Restricted Period, Executive will not directly or indirectly, either
individually or as a principal, shareholder, member, partner, joint venturer, investor, employer, director, manager, officer, employee, consultant, agent, or in any other manner or capacity whatsoever, engage in, assist, directly or indirectly, or
have any active or economic interest in a Competitive Business located anywhere in the United States; provided, however, that Executive shall not be prohibited from owning less than one percent (1%) of the outstanding securities
of a company which is publicly traded on a securities exchange or over-the-counter market. 
 (d) No Disclosure of
Confidential Information. Executive hereby agrees that he will not, directly or indirectly, disclose to anyone, or use or otherwise exploit for his own benefit or for the benefit of anyone other than the Company, any Confidential Information (as
defined herein) of the Company or any Affiliate. For purposes hereof, “Confidential Information” means any and all confidential or proprietary information regarding the Company or its Business or any Affiliate or its business,
including, without limitation, any and all trade secrets, employer records (including personnel records), customer lists, prospect lists, price lists, customer order or purchasing patterns and activities, product costing information, stocking
requirements, purchase orders, invoices, customer records, product information and applications, customer uses and preferences, passwords, access codes, products, patents, 

  
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trademarks, copyrights, processes, techniques, formulas, designs, scientific information, training information and materials, computer programs, computer network and security information,
databases, software, services, research, development, inventions, and information regarding manufacturing, financials, purchasing, accounting, marketing, production, customers, suppliers, lessors, employees, and prospective customers, suppliers,
lessors, and employees, and other information, whenever conceived, originated, discovered or developed, concerning any aspect of the Company or its Business or any Affiliate or its business, whether or not in written or tangible form; provided,
however, that (i) the term “Confidential Information” shall not include information which is or becomes generally available to the public on a non-confidential basis, including from a third party provided that such third party is not
in breach of an obligation of confidentiality with respect to such information and Executive is aware of such breach; and (ii) Executive shall not be in violation of this subsection in the event that Executive is legally compelled to disclose
any of the Confidential Information, provided that in any such event Executive will provide the Company with reasonably prompt written notice prior to any such disclosure so that the Company (or an Affiliate) may obtain a protective order or other
confidential treatment for the Confidential Information, and in the event that a protective order or other remedy is not obtained by the Company, Executive will furnish only that portion of the Confidential Information which Executive is advised by
opinion of legal counsel is legally required to be furnished. 
 (e) Remedies. Executive understands that the Company
will not have an adequate remedy at law for the breach or threatened breach by Executive of any one or more of the covenants set forth in this Section 6 and agrees that in the event of any such breach or threatened breach, the Company shall be
entitled, in addition to any other remedies which may be available to it, to injunctive relief (without bond) to enjoin Executive from the breach or threatened breach of such covenants. Further, if Executive violates any of the restrictions
contained in this Section 6, the Restricted Period shall be extended by a period equal to the length of time from the commencement of any such violation until such time as such violation shall be cured by Executive to the satisfaction of the
Company. If any of the covenants set forth herein is not enforceable, in whole or in part, the remaining covenants set forth herein shall be enforceable notwithstanding the invalidity of any other covenant. Any covenant not enforceable in part shall
be enforced to the extent valid and enforceable. If, in any judicial proceeding, a court of competent jurisdiction shall refuse to enforce any of the separate covenants herein or shall find that the term or scope of one or more of the separate
covenants is unreasonably broad, then in that event the invalid or unreasonably broad provision shall be deleted or modified by said court to the minimum extent necessary to permit enforcement thereof, and the substitute provision shall be
incorporated herein. The parties acknowledge and agree that the Affiliates shall be third-party beneficiaries of the Company’s rights and Executive’s obligations under this Section 6. 

(f) Notice to Future Employers. Executive agrees that during the Restricted Period, Executive will notify the Company in writing
of any subsequent occupation whether as owner, employee, officer, director, agent, consultant, independent contractor, or the like, and his duties and responsibilities in that position. Further, Executive agrees that during said period, he will
inform each new employer, prior to accepting employment, of the existence of this Agreement and the terms of the restrictive covenants and confidentiality restrictions contained herein. Executive acknowledges that during said period the Company
shall have the right to contact, independently, any potential or actual future employer of Executive to notify it of Executive’s obligations under this Agreement and provide such employer with a copy of this Agreement. The Company shall also be
entitled, at its election, to notify any such actual or potential employer of the Company’s understanding of the requirements of this Agreement and what steps, if any, the Company intends to take to ensure compliance with or enforcement of this
Agreement. Failure of the Company to avail itself of the benefits of this subsection shall not in any way affect its right to obtain enforcement of any provision of this Agreement. 

  
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 7. Termination. 

(a) Termination by the Company for Cause. The Company shall have the right to terminate Executive’s employment hereunder for
Cause, effective immediately without further notice. Notwithstanding anything to the contrary contained herein, if Executive’s employment is terminated other than pursuant to this Section 7(a), after which the Company determines that
Executive’s acts or omissions would have constituted grounds to terminate Executive for Cause, then Executive shall be deemed to have been terminated for Cause pursuant to this Section 7(a). In the event of such termination, then the
Company shall pay to Executive his then current Base Salary and Benefits accrued, and any expenses for which Executive is entitled to be reimbursed, up to and including the effective date of such termination. Executive shall not be entitled to any
other salary, bonus, benefits or other compensation as a result of termination pursuant to this Section 7(a). For purposes hereof, “Cause” means the occurrence of any one of the following on the part of Executive:
(i) conviction of or a plea of nolo contendre to a felony, act of moral turpitude or other behavior which affects or reflects on the Company or any Affiliate in a negative manner; (ii) attempted or actual theft, fraud or
embezzlement of money or tangible or intangible assets or property of the Company or any Affiliate or their employees or business relations; (iii) gross negligence or willful misconduct in respect of Executive’s performance of his duties
and responsibilities to the Company or any Affiliate; (iv) breach of Executive’s fiduciary duties to the Company or any Affiliate; (v) violation of any express direction from the Board or other person to whom Executive reports,
relating to Executive’s duties and responsibilities commensurate with his position, which such violation (if susceptible to cure) continues or is repeated following fifteen (15) days’ written notice from the Company to Executive
thereof; (vi) breach of Section 6; or (vii) breach of any other material term, covenant, representation or warranty contained in this Agreement, which such breach (if susceptible to cure) remains uncured or is repeated following
fifteen (15) days’ written notice from the Company to Executive thereof. 
 (b) Termination as a Result of
Executive’s Disability or Death. The Company shall have the right to terminate Executive’s employment hereunder in the event of Executive’s Disability or death, effective immediately. In the event of such termination, then the
Company shall pay to Executive (or his legal representative) Executive’s then current Base Salary and Benefits accrued, and any expenses for which Executive is entitled to be reimbursed, up to and including the effective date of such
termination. Executive shall not be entitled to any other salary, bonus, benefits or other compensation as a result of termination pursuant to this Section 7(b). For purposes hereof, “Disability” means the inability of
Executive to substantially perform his duties and responsibilities to the Company by reason of a physical or mental disability or infirmity (i) for a continuous period of ninety (90) days or for at least 180 days in any consecutive twelve
(12) month period or (ii) at such earlier time as Executive submits or the Company receives satisfactory medical evidence that Executive has a physical or mental disability or infirmity which will likely prevent him from returning to the
performance of his work duties for ninety (90) days or longer. In the event of any dispute regarding the determination of Executive’s Disability, such determination shall be made by a physician selected by the Company and reasonably
acceptable to Executive, at the Company’s sole expense; provided, however, that Executive’s Disability shall be conclusively presumed if such determination is made by an insurer providing disability insurance coverage to Executive or the
Company in respect of Executive. 
 (c) Termination by the Company Without Cause. The Company may terminate
Executive’s employment hereunder at will, for any reason (or for no reason) whatsoever, effective immediately upon notice from the Company to Executive thereof. In the event of such termination by the Company (i.e., other than by reason of
death, Disability or for Cause), then the Company shall pay to Executive his then current Base Salary and Benefits accrued, Severance Pay (as defined in and subject to Section 7(f) below) and any expenses for which Executive is entitled to be
reimbursed, up to and including the effective date of such termination. 

  
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 (d) Voluntary Termination by Executive. Executive may voluntarily terminate his
employment hereunder at any time upon not less than ninety (90) days’ prior written notice to the Company; provided, however, that any time during said 90-day period, the Company may request Executive to vacate his office and cease to
perform employment services for or on behalf of the Company except those assigned by the Board which are to be conducted from Executive’s home. If Executive so terminates his employment, then the Company shall pay to Executive his then current
Base Salary, Benefits accrued, and any expenses for which Executive is entitled to be reimbursed, up to and including the effective date of such termination. Executive shall not be entitled to any other salary, bonus, benefits or other compensation
as a result of termination pursuant to this Section 7(d). 
 (e) Removal From Positions. Any termination of
Executive’s employment with the Company shall automatically effectuate Executive’s removal from any and all officer and other positions that Executive then holds with the Company or any of its Affiliates as of the effective termination
date. 
 (f) Severance Pay. If the Company terminates Executive’s employment pursuant to Section 7(c) above,
subject to the terms and conditions in this Agreement and the Release Agreement (as defined below), and provided that Executive executes (and does not revoke, if applicable) a release and waiver agreement by which Executive releases the Company and
its Affiliates from claims relating to or arising from Executive’s employment with or separation from the Company and its Affiliates (the “Release Agreement”) in form and substance and at a time acceptable to the Company, and
further provided that Executive has been and remains in compliance with his obligations as set forth in this Agreement and the Release Agreement, the Company shall: 
 (i) pay Executive an amount (the “Severance Pay”) equal to his monthly salary at his then-current rate (excluding any benefits or other amounts) for six (6) months, payable in equal
installments in accordance with the Company’s payroll policy, over a six (6)-month period following the effective date of Executive’s termination (the “Severance Period”); 

(ii) provided Executive timely elects continued coverage for himself and his spouse and dependents who are then covered under the
Company’s group health plan under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), pay the employer portion of the costs of continued health coverage for Executive, such spouse and dependents at
their then-current level under the Company’s health plan (Executive to pay the employee’s portion at regular employee rates) during the Severance Period, after which time, the continued participation (if any) of Executive and
Executive’s spouse and dependents in the Company’s health plan shall be at such participants’ sole expense in accordance with COBRA. 
 In the event of Executive’s death during but prior to the end of the Severance Period, the Company will pay any unpaid amounts under Section 7(f)(i) above to Executive’s estate in
accordance with the provisions of this Agreement and the Release Agreement and will continue to pay the employer portion of the costs of continued health coverage for Executive’s spouse and dependents in accordance with the terms of
Section 7(f)(ii) as if Executive had remained alive for the duration of the Severance Period, after which time, such participants’ continued participation (if any) in the Company’s health plan shall be at such participants’ sole
expense in accordance with COBRA. Notwithstanding the foregoing, Executive agrees that if the Company adopts a severance plan in which Executive is eligible to participate and under which Executive is eligible for benefits (the “Severance
Plan”), Executive will be eligible to receive the greater of either: (i) the Severance Pay set forth in this Section 7(f); or (ii) the benefits for which Executive is eligible under the Severance Plan, but in no event shall
Executive be entitled to receive both. 

  
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 (g) Return of Property. Immediately upon the Company’s request or on the
termination date of Executive’s employment, whichever occurs first, Executive shall return to the Company all Confidential Information and any other property of the Company, its Affiliates, or any third parties which is in Executive’s
possession or control by virtue of his employment with the Company. Property to be returned to the Company shall include without limitation, all documents and things (whether in tangible or electronic format and whether such documents or things
contain any Confidential Information) in Executive’s possession or control, further including without limitation, all computer programs, files and diskettes, and all written or printed files, manuals, contracts, memoranda, forms, notes, records
and charts, and any and all copies of, or extracts from, any of the foregoing. 
 8. Assignment. The parties acknowledge
and agree that the covenants, terms and provisions contained in this Agreement constitute a personal employment contract and the rights and obligations of the parties hereunder cannot be transferred, sold, assigned, pledged or hypothecated,
excepting that the Company may assign this Agreement in connection with a sale of the business, merger, consolidation, share exchange, sale of substantially all of the Company’s assets, or other reorganization, whether or not the Company is the
continuing entity, provided that the assignee is the successor to the business and all or substantially all of the assets of the Company. 
 9. Severability. If any one or more of the provisions or parts of a provision contained in this Agreement shall, for any reason, be held to be invalid, illegal or unenforceable in any respect in
any jurisdiction, such invalidity, illegality or unenforceability shall not affect (a) any other provision or part of a provision of this Agreement nor (b) this Agreement’s validity, legality and enforceability in any other
jurisdiction, but this Agreement shall be reformed and construed in any such jurisdiction as if such invalid or illegal or unenforceable provision or part of a provision had never been contained herein and such provision or part shall be reformed so
that it would be valid, legal and enforceable to the maximum extent permitted in such jurisdiction. 
 10. Governing Law;
Venue. This Agreement shall be covered by, construed, applied and reinforced in accordance with the internal laws of the State of Illinois, without regard to conflicts of law provisions. The parties agree that any action or proceeding to enforce
or arising out of this Agreement shall be commenced in the state courts, or in the United States District Court, in Chicago, Illinois. The parties consent to such jurisdiction, agree that venue will be proper in such courts and waive any objections
based upon Forum Non Conveniens. The choice of forum set forth in this section shall not be deemed to preclude the enforcement of any action under this Agreement in any other jurisdiction. 

11. Continuing Obligation. The covenants, obligations, duties and liabilities of Executive pursuant to Sections 5 and 6
hereof are continuing, absolute and unconditional and shall remain in full force and effect as provided herein. 
 12.
Waiver. The waiver by the Company or Executive of any breach of any term or condition of this Agreement shall not be deemed to constitute the waiver of any other breach of the same or any other term or condition hereof. 

13. Notices. Any notice, request, consent or communication under this Agreement shall be effective only if it is in writing and
shall be deemed to have been given when personally delivered or three (3) days after being deposited in the United States mail, certified or registered, postage prepaid, return receipt requested and addressed to the party at its or his last
known address. The address of any party may be changed by notice in writing to the other party duly served in accordance with this Section. 

  
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 14. Section 409A. The intent of the parties is that payments and benefits under
this Agreement be exempt from, and to the extent not exempt from, comply with Internal Revenue Code Section 409A and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”) and, accordingly,
to the maximum extent permitted, this Agreement shall be interpreted in accordance with such intent. To the extent that any provision hereof is modified in order to comply with Code Section 409A, such modification shall be made in good faith
and shall, to the maximum extent reasonably possible, maintain the original intent and economic benefit to Executive and the Company of the applicable provision without violating the provisions of Code Section 409A. In no event whatsoever shall
the Company be liable for any additional tax, interest or penalty that may be imposed on Executive by Code Section 409A or damages for failing to comply with Code Section 409A. Without limiting the generality of the foregoing, the Company
and the Executive agree as follows: 
 (a) Reimbursements payable to Executive hereunder shall be paid in no event later than
the end of the calendar year following the year in which the reimbursable expense is incurred. In addition, such reimbursements shall be made in a manner that complies with all the requirements of Treasury Regulation Section 1.409A-3(i)(l)(iv).
In no event shall reimbursements and payments provided under the Agreement be subject to liquidation or exchange in a manner which violates Treasury Regulation Section 1.409A-3(i)(l)(iv). 

(b) A termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the
payment of any amounts or benefits upon or following a termination of employment unless such termination is also a “separation from service” within the meaning of Code Section 409A and, for purposes of any such provision of this
Agreement, references to a “termination,” “termination of employment” or like terms shall mean “separation from service.” 
 (c) Notwithstanding any other payment schedule provided herein to the contrary, if Executive is deemed on the date of termination to be a “specified employee” within the meaning of that term
under Code Section 409A(a)(2)(B), then each of the following shall apply: 
 (i) With regard to any payment that is
considered “nonqualified deferred compensation” under Code Section 409A payable on account of a “separation from service,” such payment shall be made on the date which is the earlier of (A) the expiration of the six
(6)-month period measured from the date of such “separation from service” of Executive, and (B) the date of Executive’s death (the “Delay Period”) to the extent required under Code Section 409A. Upon the
expiration of the Delay Period, all payments delayed pursuant to this Section (whether they would have otherwise been payable in a single sum or in installments in the absence of such delay) shall be paid to Executive in a lump sum, and all
remaining payments due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein; and 
 (ii) To the extent that benefits to be provided during the Delay Period are considered “nonqualified deferred compensation” under Code Section 409A provided on account of a “separation
from service,” and such benefits are not otherwise exempt from Code Section 409A, Executive shall pay the cost of such benefits during the Delay Period, and the Company shall reimburse Executive, to the extent that such costs would
otherwise have been paid by the Company or to the extent that such benefits would otherwise have been provided by the Company at no cost to Executive, the Company’s share of the cost of such benefits upon expiration of the Delay Period, and any
remaining benefits shall be reimbursed or provided by the Company in accordance with the procedures specified herein. 

  
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 (d) To the extent that severance payments or benefits pursuant to this Agreement are
conditioned upon the execution and delivery by Executive of a release of claims, Executive shall forfeit all rights to such payments and benefits unless such release is signed and delivered (and no longer subject to revocation, if applicable) within
sixty (60) days following the date of Executive’s termination of employment. If the foregoing release is timely executed and delivered and no longer subject to revocation as provided in the preceding sentence, then the following shall
apply: 
 (i) To the extent that any such cash payment or continuing benefit to be provided is not “nonqualified deferred
compensation” for purposes of Code Section 409A, then such payment or benefit shall commence upon the first scheduled payment date immediately following the date that the release is executed, delivered and no longer subject to revocation
(the “Release Effective Date”). The first such cash payment shall include payment of all amounts that otherwise would have been due prior to the Release Effective Date under the terms of this Agreement applied as though such
payments commenced immediately upon Executive’s termination of employment, and any payments made thereafter shall continue as provided herein. The delayed benefits shall in any event expire at the time such benefits would have expired had such
benefits commenced immediately following Executive’s termination of employment. 
 (ii) Subject to Section 14(c)(i),
to the extent that any such cash payment or continuing benefit to be provided is “nonqualified deferred compensation” for purposes of Code Section 409A, then such payments or benefits shall be made or commence upon the sixtieth
(60th) day following Executive’s termination of employment. The first such cash payment shall include payment of all amounts that otherwise would have been due prior thereto under the terms of this Agreement had such payments commenced
immediately upon Executive’s termination of employment, and any payments made thereafter shall continue as provided herein. The delayed benefits shall in any event expire at the time such benefits would have expired had such benefits commenced
immediately following Executive’s termination of employment. 
 The Company may provide, in its sole discretion, that Executive may
continue to participate in any benefits delayed pursuant to this Section 14(d) during the period of such delay, provided that Executive shall bear the full cost of such benefits during such delay period. Upon the date such benefits would
otherwise commence pursuant to this Section 14(d), the Company may reimburse Executive the Company’s share of the cost of such benefits, to the extent that such costs would otherwise have been paid by the Company or to the extent that such
benefits would otherwise have been provided by the Company at no cost to Executive, in each case, had such benefits commenced immediately upon Executive’s termination of employment. Any remaining benefits shall be reimbursed or provided by the
Company in accordance with the schedule and procedures specified herein. 
 (e) For purposes of Code Section 409A,
Executive’s right to receive any installment payments pursuant to this Agreement shall be treated as a right to receive a series of separate and distinct payments. Whenever a payment under this Agreement specifies a payment period with
reference to a number of days, the actual date of payment within the specified period shall be within the sole discretion of the Company. 
 15. Notwithstanding any other provision of this Agreement to the contrary, in no event shall any payment under this Agreement that constitutes “nonqualified deferred compensation” for purposes
of Code Section 409A be subject to offset by any other amount unless otherwise permitted by Code Section 409A. 
 16.
Miscellaneous. This Agreement may be executed in two or more counterparts (including via facsimile), each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. The section headings
contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. This Agreement 

  
 10 

 
embodies the entire agreement and understanding of the parties hereto in respect of the subject matter contained herein. There are no restrictions, promises, representations, warranties,
covenants or undertakings, other than those expressly set forth or referred to herein. This Agreement supersedes all prior agreements and understandings (whether oral or written) between the parties (or between the Company and Executive) with
respect to such subject matter. 
 [Signature page follows] 

  
 11 

 IN WITNESS WHEREOF, the parties hereto have made and entered into this Employment Agreement
the date first hereinabove set forth. 
  

							
	THE COMPANY:	 		 	EXECUTIVE:
			
	PROFESSIONAL DIVERSITY NETWORK, INC.	 		 	
				
	By:	 	 	 		 	 
	Name: James R. Kirsch	 		 	Rudy Martinez
	Its:     Chief Executive Officer	 		 	

 Signature Page to Employment Agreement of Rudy MartinezExhibit 10.9

 Exhibit 10.9 
 CONTRIBUTION AGREEMENT AND PLAN OF REORGANIZATION AND MERGER 
 CONTRIBUTION
AGREEMENT AND PLAN OF REORGANIZATION AND MERGER (the “Agreement”), dated as of                     , 2013, by and among
PROFESSIONAL DIVERSITY NETWORK, LLC f/k/a iHispano.com, LLC, an Illinois limited liability company (“LLC”), PROFESSIONAL DIVERSITY NETWORK, INC., a Delaware corporation (“PDN”), and the holders of outstanding Units
(as defined in Section 1.2) who execute this Agreement (or a joinder hereto in the form of Exhibit A) or who otherwise agree to be bound by this Agreement as members (the “Members”). 

WHEREAS, LLC and the Members desire to reorganize LLC as a corporation in order to effectuate an initial public offering (the
“IPO”) in accordance with the Securities Act of 1933, as amended (the “Securities Act”); 

WHEREAS, the reorganization (the “Reorganization”) shall be effected through (i) the contribution to PDN by the
Members of all of the right, title and interest in and to their entire membership interest in LLC (the “Contribution”) such that LLC will become a wholly-owned subsidiary of PDN and the Members will become stockholders of PDN, and
(ii) the merger of LLC with and into PDN such that LLC will cease to exist as a separate and distinct legal entity and PDN shall continue as the surviving corporation (the “PDN Merger”); 

WHEREAS, for federal income tax purposes, it is intended that (i) the Contribution shall qualify as a transfer of property to PDN by
the Members described in Section 351 of the Internal Revenue Code of 1986, as amended (the “Code”), and (ii) the PDN Merger shall qualify as a reorganization described in Section 368(a) of the Code; 

WHEREAS, each of the managers of LLC (“Managers”) and the incorporator and board of directors of PDN (the
“Board”) have approved this Agreement; 
 WHEREAS, no further action on the part of the Managers or the Board
is required to effect the transactions contemplated hereby; 
 WHEREAS, the Members of the LLC and the incorporator and Board of
PDN have approved this Agreement and the Contribution and no further action on the part of the Members of the LLC or the incorporator or Board of PDN is required to effect the transactions contemplated hereby; and 

WHEREAS, LLC and PDN desire to make certain representations, warranties, covenants and agreements in connection with the combination and
also to prescribe various conditions to the Reorganization. 
 NOW, THEREFORE, in consideration of the foregoing and the
respective representations, warranties, covenants and agreements set forth below, the parties agree as follows: 
 ARTICLE I

 THE CONTRIBUTION AND THE MERGER 
 Section 1.1 Certificate of Incorporation and Bylaws of PDN. The Certificate of Incorporation and Bylaws of PDN shall be amended and adopted, respectively, to be effective as of the Closing (as
defined herein) and substantially in the form of Exhibit A and Exhibit B attached hereto, respectively. From the date hereof until the Effective Time (as defined herein), no party hereto may take any action inconsistent with the
provisions of this Agreement without the written consent of the other parties hereto. 

 Section 1.2 The Contribution. Upon the terms and subject to the provisions of
this Agreement, at the Closing, each holder of any outstanding Units of membership interest in LLC (the “Units”) shall contribute to PDN all of the right, title and interest in and to such holder’s Units, free and clear of any
Encumbrances (as defined in Section 3.2), which Units, in each case, are set forth next to the name of such person in Schedule 5.1 attached hereto, and in exchange therefor each holder of Units shall be entitled to receive a number of
shares of common stock of PDN (“PDN Common Stock”) as described in Section 2.1. As a result of the Contribution, PDN shall become the sole member of LLC and LLC will become a wholly-owned subsidiary of PDN. 

Section 1.3 The PDN Merger. Upon the terms and subject to the provisions of this Agreement, and in accordance with the
Delaware General Corporation Law (the “DGCL”) and the Illinois Limited Liability Company Act (the “ILCA”), LLC shall merge with and into PDN immediately following the Contribution. As a result of the PDN Merger, the
separate legal existence of LLC shall cease and PDN shall continue as the surviving corporation. Upon becoming effective, the PDN Merger shall have the effects set forth in the DGCL. Without limiting the generality of the foregoing, and subject
thereto, at the Effective Time, all properties, rights, privileges, powers and franchises of LLC shall vest in PDN, and all debts, liabilities and duties of LLC shall become the debts, liabilities and duties of PDN. 

Section 1.4 Effective Time of Merger. Subject to, and consistent with, the provisions of this Agreement, a certificate(s) of
merger (the “PDN Certificate of Merger”) with respect to the PDN Merger in such form as is required by the relevant provisions of the DGCL and the ILCA shall be duly prepared, executed and acknowledged and thereafter delivered to
the Secretary of State of the States of Delaware and Illinois for filing, as provided in the DGCL and the ILCA, as early as practicable following the Closing. The PDN Merger shall become effective upon the filing of the PDN Certificate of Merger
with the Secretary of State of the State of Delaware and Illinois or such later time as may be specified therein. The time at which the PDN Merger becomes effective is hereinafter referred to as the “Effective Time.” 

Section 1.5 Closing. The closing of the Reorganization (the “Closing”) shall occur on the date (the
“Closing Date”) and at such time as the underwriting agreement is executed by PDN and the underwriter in connection with the IPO and no further action by the parties will be necessary provided that all preconditions set forth in
this Agreement have been fully satisfied. 
 ARTICLE II 
 EXCHANGE OF SECURITIES 
 Section 2.1 Exchange of Units of LLC. At the
Closing, (i) each Unit then outstanding and owned by a Member shall, by virtue of the Contribution as described in Section 1.2, be exchanged for [•] shares of PDN Common Stock (the “PDN Shares”); provided,
however, that fractional PDN Shares shall be rounded up or down, as the case may be, to the nearest whole number. Upon such Contribution, (a) all such Units shall be transferred and exchanged in full, together with all right, title and
interest in and to such Units, to PDN and (b) each person who was formerly a holder of a Unit shall cease to have any rights with respect thereto, except the right to receive the PDN Shares to be issued or paid in consideration therefor.

 Section 2.2 Exchange of Certificates. The procedures for exchanging certificates representing Units outstanding
immediately prior to Closing for the PDN Shares are as follows: 

  
 2 

 (a) Exchange Agent. As of or prior to Closing, PDN shall deposit with James Kirsch
(the “Exchange Agent”), for the benefit of the Members immediately prior to the Closing, certificates representing the PDN Shares issuable to the Members pursuant to Section 2.1 in exchange for their outstanding Units. The
Exchange Agent may resign from his capacity as Exchange Agent at any time by written notice delivered to PDN. If there is a vacancy at any time in the position of Exchange Agent for any reason, such vacancy shall be filled by a majority interest of
the Members existing immediately prior to the Exchange Agent’s resignation. The Members shall indemnify and hold harmless the Exchange Agent from any and all losses, liabilities, and expenses (including reasonable attorneys’ fees) arising
out of or in connection with the Exchange Agent’s execution and performance (solely in his capacity as the Exchange Agent and not in his capacity as a holder of Units or otherwise) of this Agreement. James Kirsch shall not be entitled to any
fees or other compensation in his capacity as Exchange Agent. 
 (b) Exchange Procedures. 

(i) At or prior to Closing, each holder of a Unit shall deliver to the Exchange Agent, or to such other agent or agents as may be
appointed by PDN, documentation reasonably satisfactory to the Exchange Agent or PDN, duly executed by such holder, evidencing the transfer of the Units (the “Transfer Documents”). Upon delivery of the Transfer Documents, duly
endorsed, to the Exchange Agent, such Members shall be entitled to receive in exchange therefor, certificates representing the number of whole PDN Shares that such holder has the right to receive pursuant to the provisions of this Article II.

 (ii) Immediately after Closing, all Units shall be deemed to have been delivered to the Exchange Agent and exchanged for the
PDN Shares in accordance with the provisions set forth in subsection (i) above. 
 (c) No further Ownership Rights in
Units and PDN Common Stock. All PDN Shares issued upon the delivery of the Transfer Documents in accordance with the terms hereof (and any cash paid pursuant to subsection (c) or (e) of this Section 2.2) shall be deemed to have
been issued in full satisfaction of all rights pertaining to the Units so contributed and exchanged. If, after the Closing, Transfer Documents with respect to valid Units are presented to PDN for any reason, such Units shall be deemed contributed
and exchanged to PDN in accordance with the provisions of this Agreement, effective as of the Closing and the Members, in exchange therefor, shall receive such number of PDN Shares as may be calculated pursuant to Section 2.1, together, without
interest, with cash in lieu of fractional PDN Shares as described in Section 2.2(e). 
 (d) No Liability. Neither LLC
nor PDN shall be liable to any Member for any PDN Shares or any dividends or distributions with respect thereto) delivered to a public official pursuant to any applicable abandoned property, escheat or similar law. 

(e) Withholding Rights. PDN shall be entitled to deduct and withhold from the consideration otherwise payable pursuant to this
Agreement to any holder of Units such amounts as it is required to deduct and withhold with respect to the making of such payment under the Code, or any provision of state, local or foreign tax law. To the extent that amounts are so withheld by PDN
such withheld amounts shall be treated for all purposes of this Agreement as having been paid to the holder of Units in respect of which such deduction and withholding was made. 

  
 3 

 ARTICLE III 
 REPRESENTATIONS AND WARRANTIES OF LLC 
 LLC represents and warrants to PDN that
the statements contained in this Article III are true and correct as of the date of this Agreement and will be correct and complete as of the Closing Date (as though made then and as though the Closing Date were substituted for the date of this
Agreement throughout this Article III). 
 Section 3.1 Organization of LLC. LLC is a limited liability company duly
organized, validly existing and in good standing under the laws of the State of Illinois. LLC has all requisite limited liability company power to own, lease and operate its property and to carry on its business as now being conducted and as
proposed to be conducted, and is duly qualified to do business and is in good standing as a foreign limited liability company in each jurisdiction in which the failure to be so qualified would have a material adverse effect on the business, assets,
properties, financial condition or results of operations of LLC (an “LLC Material Adverse Effect”). 

Section 3.2 LLC Capital Structure. The outstanding Units currently consist, and will consist immediately prior to the the
Closing, of the Units set forth in Schedule 5.1 attached hereto, which Units represent 100% of the equity interests in LLC. No other person owns or holds any Units or portion of a Unit or any other equity interest in LLC, including, without
limitation, an economic interest in LLC, an interest in the profits or losses of LLC or an interest in the right to receive distributions from LLC. There are no outstanding subscriptions, calls, commitments, warrants or options for the purchase of
Units or other equity interests in LLC, or any securities convertible into or exercisable or exchangeable for Units or other equity interests in LLC, or any other commitments of any kind for the granting of additional Units or other equity interests
in LLC or other equity interests or securities issued by LLC. All of the outstanding Units are duly authorized, fully paid and nonassessable securities of LLC, free and clear of all Encumbrances (as defined below) (other than any restrictions under
the Securities Act and state securities laws and under the Operating Agreement (as defined in Section 5.1 below)). There are no contracts relating to the issuance, sale, or transfer of any Units or other equity interests in LLC, or any portions
of any Units or other equity interests in LLC. To the knowledge of LLC, except for the Operating Agreement, there are no operating, members, shareholders or similar agreements, registration rights agreements, agreements with respect to the transfer
or sale of Units or other equity interests in LLC, or voting trusts, proxies or other voting agreements or understandings with respect to the outstanding Units or other equity interests in LLC. For purposes of this Agreement,
“Encumbrance” shall mean any charge, claim, condition, equitable interest, lien, option, pledge, security interest, right of first refusal or restriction of any kind, including any restriction on use, voting, transfer, receipt of
income or exercise of any other attribute of ownership. 
 Section 3.3 Authority. LLC has all requisite limited
liability company power and authority to enter into this Agreement, to perform its obligations hereunder and to consummate the Reorganization. The execution, delivery and performance by LLC of this Agreement and the consummation by it of the
Transactions have been duly authorized by all necessary action on the part of LLC, its Managers and its Members. This Agreement has been duly executed and delivered by LLC and constitutes the valid and binding obligations of LLC, enforceable against
LLC in accordance with its terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equitable principles (the
“Bankruptcy and Equity Exception”). 

  
 4 

 Section 3.4 Noncontravention. The execution, delivery and performance by LLC of
this Agreement and the consummation by it of the Reorganization do not and will not (i) violate the articles of organization or operating agreement of LLC, (ii) violate any applicable material law, rule, regulation, judgment, injunction,
order or decree or (iii) require any material consent or other material action by any person, constitute a default under, or give rise to any right of termination, cancellation or acceleration of any right or obligation of LLC under any
material agreement or instrument binding upon LLC. 
 Section 3.5 Governmental Authorization. The execution,
delivery and performance by LLC of this Agreement and the consummation of the Reorganization require no material action by or in respect of, or material approval by, notice to or filing with, any governmental body, agency or official, other than
compliance with any applicable requirements of federal and state securities laws including, without limitation, the Securities Act. 
 Section 3.6 No Other Representations and Warranties. EXCEPT FOR THE REPRESENTATIONS AND WARRANTIES CONTAINED IN THIS ARTICLE III, LLC MAKES NO EXPRESS OR IMPLIED REPRESENTATION OR
WARRANTY, AND LLC HEREBY DISCLAIMS ANY SUCH REPRESENTATION OR WARRANTY WITH RESPECT TO THE EXECUTION, DELIVERY AND PERFORMANCE OF THIS AGREEMENT AND THE CONSUMMATION OF THE REORGANIZATION. 

ARTICLE IV 

REPRESENTATIONS AND WARRANTIES OF PDN 
 PDN represents and warrants to LLC and the Members that the statements contained in this Article IV are true and correct as of the date of this Agreement and will be correct and complete as of the Closing
Date (as though made then and as though the Closing Date were substituted for the date of this Agreement throughout this Article IV). 
 Section 4.1 Organization of PDN. PDN is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware, has all requisite corporate power to own,
lease and operate its property and to carry on its business as now being conducted and as proposed to be conducted, and is duly qualified to do business and is in good standing as a foreign corporation in each jurisdiction in which the failure to be
so qualified would have a PDN Material Adverse Effect (as defined below). PDN does not have, and, since the date of its incorporation, has not had any Subsidiaries. PDN does not directly or indirectly own any equity or similar interest in, or any
interest that is mandatorily convertible into or exchangeable or exercisable for, any corporation, partnership, joint venture or other business association or entity. For purposes of this Agreement “PDN Material Adverse Effect”
shall mean a material adverse effect on the business, assets, properties, financial condition or results of operations of PDN. 

Section 4.2 PDN Capital Structure. 
 (a) The authorized capital stock of PDN consists of 25,000,000 shares of PDN Common Stock. As of the date hereof, (i) no shares of PDN Common Stock are issued and outstanding, and (ii) no shares
of PDN Common Stock are held in the treasury of PDN. There are no obligations, contingent or otherwise, of PDN to repurchase, redeem or otherwise acquire any shares of PDN Common Stock or make any investment (in the form of a loan, capital
contribution or otherwise) in any other entity. 
 (b) (i) There are no securities of PDN, or any security convertible into or
exercisable or exchangeable for such securities, issued, reserved for issuance or outstanding; (ii) there are no options, warrants, securities, calls, rights, commitments or agreements of any character to which PDN is a party or by which it is
bound obligating PDN to issue, deliver or sell, or cause to be issued, delivered or sold, additional shares of capital stock of PDN or obligating PDN to grant, extend, accelerate the vesting of or

  
 5 

 
enter into any such option, warrant, equity security, call, right, commitment or agreement; and (iii) to the knowledge of PDN, except as set forth on Schedule 5.1 hereto, there are no
shareholders or similar agreements, registration rights agreements, agreements with respect to the transfer or sale of PDN Common Stock or other securities of PDN, or voting trusts, proxies or other voting agreements or understandings with respect
to the shares of capital stock of PDN. 
 Section 4.3 Authority. PDN has all requisite corporate power and authority
to enter into this Agreement, to perform its obligations hereunder and to consummate the Reorganization. The execution, delivery and performance by PDN of this Agreement and the consummation by it of the Reorganization have been duly authorized by
all necessary action on the part of PDN, its existing stockholders and the Board. This Agreement has been duly executed and delivered by PDN and constitutes the valid and binding obligations of PDN, enforceable against PDN in accordance with its
terms, subject to the Bankruptcy and Equity Exception. 
 Section 4.4 Noncontravention. The execution, delivery and
performance by PDN of this Agreement and the consummation by it of the Reorganization do not and will not (i) violate the certificate of incorporation or bylaws of PDN, (ii) violate any applicable material law, rule, regulation, judgment,
injunction, order or decree or (iii) require any material consent or other material action by any person under, constitute a default under, or give rise to any right of termination, cancellation or acceleration of any right or obligation of PDN
under any material agreement or instrument binding upon PDN. 
 Section 4.5 Governmental Authorization. The
execution, delivery and performance by PDN of this Agreement and the consummation of the Reorganization require no material action by or in respect of, or material approval by, notice to or filing with, any governmental body, agency or official,
other than compliance with any applicable requirements of federal and state securities laws including, without limitation, the Securities Act. 
 Section 4.6 Section 203 of the DGCL Not Applicable. The Board of PDN, has taken all actions necessary under the DGCL, including approving the transactions contemplated by this Agreement,
to ensure that Section 203 of the DGCL applicable to a “business combination” (as defined in Section 203 of the DGCL) does not, and will not, apply to the transactions contemplated hereunder and thereunder. No other “fair
price,” “moratorium,” “control share acquisition” or other similar anti-takeover statute or regulation is applicable to PDN or the Reorganization. 
 Section 4.7 No Other Representations and Warranties. EXCEPT FOR THE REPRESENTATIONS AND WARRANTIES CONTAINED IN THIS ARTICLE IV, PDN MAKES NO EXPRESS OR IMPLIED REPRESENTATION OR
WARRANTY, AND PDN HEREBY DISCLAIMS ANY SUCH REPRESENTATION OR WARRANTY WITH RESPECT TO THE EXECUTION, DELIVERY AND PERFORMANCE OF THIS AGREEMENT AND THE CONSUMMATION OF THE REORGANIZATION. 

  
 6 

 ARTICLE V 
 REPRESENTATIONS AND WARRANTIES OF MEMBERS 
 Each Member, individually and not
jointly and severally, represents and warrants to PDN and LLC that the statements contained in this Article V are true and correct as of the date of this Agreement and will be correct and complete as of the Closing Date (as though made then and as
though the Closing Date were substituted for the date of this Agreement throughout this Article V). 
 Section 5.1
Ownership of Interests. Such Member holds of record and owns beneficially the Units set forth next to his name in Schedule 5.1 hereto, free and clear of any Encumbrances (other than any restrictions under the Securities Act and state
securities laws and under the Operating Agreement). Such Member is not a party to any option, warrant, purchase right, or other contract or commitment (other than this Agreement) that could require such Member to sell, transfer, or otherwise dispose
of any Units. Such Member is not a party to any operating, members, shareholders or similar agreements, registration rights agreements, agreements with respect to the transfer or sale of Units or other equity interests in LLC, or voting trust,
proxy, or other agreement or understanding with respect to the voting of any Units or other equity interests in LLC, except for the LLC’s Operating Agreement dated as of November 12, 2004 among LLC and its members, as amended (the
“Operating Agreement”). 
 Section 5.2 Authority. Such Member has full legal capacity (and if an
entity, power) to execute and deliver this Agreement and to perform his obligations hereunder. All acts required to be taken by such Member to enter into this Agreement and to carry out the transactions contemplated hereby have been properly taken.
This Agreement has been duly executed and delivered by such Member and constitutes the valid and binding obligation of such Member enforceable against such Member in accordance with its terms, subject to the Bankruptcy and Equity Exception and does
not conflict with, result in a breach or violation of or constitute (or with notice of lapse of time or both constitute) a default under any instrument, contract or other agreement to which the Member is a party. 

Section 5.3 Noncontravention; Governmental Authorization. 

(a) The execution, delivery and performance by such Member of this Agreement and the consummation of the Reorganization do not and will
not (a) violate any constitution, statute, regulation, rule, injunction, judgment, order, decree, ruling, charge, or other restriction of any government, governmental agency, or court to which such Member is subject or, if such Member is an
entity, any provision of its charter, bylaws, or other governing documents, (b) conflict with, result in a breach of, constitute a default under, result in the acceleration of, create in any party the right to accelerate, terminate, modify, or
cancel, or require any notice under any agreement, contract, lease, license, instrument, or other arrangement to which such Member is a party or by which he, she, or it is bound or to which any of his, her, or its assets are subject, or
(c) result in the imposition or creation of any Encumbrance upon or with respect to its Units or any other equity interests it owns in the Company or PDN. 
 (b) The execution, delivery and performance by such Member of this Agreement and the consummation of the Reorganization require no material action by or in respect of, or material approval by, notice to
or filing with, any governmental body, agency or official, other than compliance with any applicable requirements of federal and state securities laws including, without limitation, the Securities Act. 

  
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 Section 5.4 Access to Information. 

(a) Such Member has been given an opportunity to ask questions and receive answers from the managers, directors and officers of the LLC
and PDN and to obtain additional information from the LLC and PDN. 
 (b) Such Member is an “accredited investor” (as
defined in Rule 501(a) of Regulation D of the Securities Act) and has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of an investment in PDN’s securities and has obtained, in
his judgment, sufficient information about PDN to evaluate the merits and risks of an investment in PDN. 
 (c) Such Member is
relying solely on the representations and warranties contained in Articles III and IV in making his, her or its decision to enter into this Agreement and to consummate the transactions contemplated hereby and no oral representations or warranties of
any kind have been made by the LLC or PDN or their respective managers, directors, officers, employees or agents to such Member. 
 Section 5.5 Securities Laws. The PDN Shares will be acquired for such Member’s own account and not with a view to, or intention of, distribution thereof in violation of the Securities Act
or any applicable state securities laws, and no PDN Shares will be disposed of by such Member in contravention of the Securities Act or any applicable state securities laws. 
 Section 5.6 Restricted Stock. Such Member understands that the PDN Shares have not been registered under the laws of any jurisdiction (including the Securities Act, the laws of any state of
the United States of America or the laws of any foreign jurisdiction). Such Member understands and agrees further that the PDN Shares may not be offered, resold, pledged or otherwise transferred unless they have been registered under the Securities
Act and any applicable state or other securities laws or unless an exemption from such registration is available. Such Member understands that legends stating that the PDN Shares have not been registered under the Securities Act and any applicable
state or other laws and setting out or referring to the restrictions on the transferability and resale of the PD Shares may be placed on certificates evidencing the PDN Shares. 

Section 5.7 Member Acknowledgment. Such Holder understands that this Agreement contains provisions that may have significant
legal, tax and financial consequences for such Member. Such Member has consulted with such independent legal, tax and financial advisors as deemed appropriate to assist such Member in evaluating the transactions contemplated hereby. 

ARTICLE VI 

COVENANTS 

Section 6.1 Cooperation; Notice; Cure. Each of the parties hereto will use commercially reasonable efforts to effectuate the
Reorganization and to fulfill and cause to be fulfilled the conditions to Closing under this Agreement. Each of the parties hereto, shall notify each of the other parties of, and will use all commercially reasonable efforts to cure before the
Closing Date, any event, transaction or circumstance, as soon as practicable after it becomes known to such party, that causes or will cause any covenant or agreement of such party, under this Agreement to be breached or that renders or will render
untrue any representation or warranty of such party contained in this Agreement. Each of the parties hereto shall notify each of the other parties in writing of, and will use all commercially reasonable efforts to cure, before the Closing Date, any
violation or breach, or soon as practicable after it becomes known to such party, of any representation, warranty, covenant or agreement made by such party. No notice given pursuant to this paragraph shall have any effect on the representations,
warranties, covenants or agreements contained in this Agreement for purposes of determining satisfaction of any condition contained herein. 

  
 8 

 Section 6.2 Registration Statement. 

(a) On May 22, 2012, PDN filed with the U.S. Securities and Exchange Commission (the “SEC”) the Registration
Statement contemplating the IPO on Form S-1. PDN shall use its commercially reasonable efforts to prepare and file any amendments thereto and to cause such Registration Statement to be declared effective with the SEC (such Registration Statement, as
amended, the “Registration Statement”); provided, however, that the Members acknowledge and agree that the PDN Shares will not be registered in the IPO. 

(b) Each party hereto shall use its commercially reasonable efforts to furnish to each other all information required for any application
or other filing to be made pursuant to the rules and regulations of any applicable law (including all information required to be included in Registration Statement) in connection with the Reorganization. 

Section 6.3 Legal Conditions to Reorganization. 
 (a) Each party hereto shall each use its commercially reasonable efforts to (i) take, or cause to be taken, all appropriate action, and do, or cause to be done, all things necessary and proper under
applicable law to consummate and make effective the Reorganization as promptly as practicable, (ii) obtain from any governmental entity or any other third party any consents, licenses, permits, waivers, approvals, authorizations, or orders
required to be obtained or made by such party in connection with the authorization, execution and delivery of this Agreement and the consummation of the Reorganization, (iii) as promptly as practicable, make all necessary filings, and
thereafter make any other required submissions, with respect to this Agreement, the Contribution and the PDN Merger required under the Securities Act and the Securities Exchange Act of 1934, as amended, and any other applicable laws, and
(iv) refrain from taking any which would reasonably be likely to delay, hinder or interfere with the Reorganization. 
 (b)
Each party hereto agrees to cooperate and to use its commercially reasonable efforts to obtain any government clearances required for Closing, to respond to any government requests for information, and to contest and resist any action, including any
legislative, administrative or judicial action, and to have vacated, lifted, reversed or overturned any decree, judgment, injunction or other order (whether temporary, preliminary or permanent) that restricts, prevents or prohibits the consummation
of the Reorganization. 
 (c) Each of the parties hereto shall give any notices to third parties, and shall use its commercially
reasonable efforts to obtain any third party consents related to or required in connection with the Reorganization. 

Section 6.4 Non-recognition Exchange. Whether before or after the Effective Time, none of the parties hereto shall knowingly
take any action, or knowingly fail to take any action, that is reasonably likely to jeopardize the treatment of the PDN Merger and the Contribution as transfers of property described in Section 351 of the Code or the PDN Merger as a
reorganization described in Section 368(a) of the Code. 

  
 9 

 Section 6.5 Conveyance Taxes. The parties hereto shall cooperate in the
preparation, execution and filing of all returns, questionnaires, applications or other documents regarding any real property transfer or gains, sales, use, transfer, value added, stock transfer and stamp taxes, any transfer, recording, registration
and other fees or any similar taxes (together, “Conveyance Taxes”) which become payable in connection with the Reorganization that are required or permitted to be filed on or before the Effective Time. LLC shall pay with respect to
the Contribution and PDN shall pay with respect to the PDN Merger, without deduction or withholding from any amount payable to the holders of Units or PDN Common Stock, as the case may be, any such Conveyance Taxes imposed by any governmental entity
(and any penalties and interest with respect to such Conveyance Taxes), which become payable in connection with the Reorganization, on behalf of their stockholders or Members, as the case may be. 

Section 6.6 Release. Effective as of the Closing, each holder of Units, individually and on behalf of his or its heirs,
agents, assigns and representatives, hereby remises, releases and forever discharges LLC and its members, officers, managers, agents, employees, affiliates, successors and assigns of and from any liability for any and all claims, counterclaims,
controversies, actions, causes of action, demands, debts, damages, costs, attorneys’ fees, or liabilities of any nature whatsoever in law or in equity, whether now known or hereafter discovered, that have arisen, or may arise, out of events
that have occurred from the beginning of time until the date hereof; provided, however, that this Section 6.7 shall not be effective to release LLC or PDN from any of its obligations under this Agreement or under the Debt Conversion Agreement
or any Employment Agreement with PDN and such holder, or other agreements entered into by such holder and LLC or PDN in connection with the IPO. 
 ARTICLE VII 
 CONDITIONS TO THE REORGANIZATION 

Section 7.1 Conditions to the Obligation of PDN and LLC to Effect the Reorganization. The respective obligations of PDN and
LLC to effect the Reorganization shall be subject to the satisfaction or waiver by each of PDN and LLC prior to the Closing of the following conditions: 
 (a) All authorizations, consents, orders or approvals of, or declarations or filings with, or expirations of waiting periods imposed by, any governmental entity the failure of which to file, obtain or
occur is reasonably likely to have an LLC Material Adverse Effect or a PDN Material Adverse Effect shall have been filed, obtained or occurred. 
 (b) PDN and the underwriter shall have entered into an underwriting agreement in connection with the IPO. 
 (c) No governmental entity shall have enacted, issued, promulgated, enforced or entered any order, executive order, stay, decree, judgment or injunction or statute, rule, regulation which is in effect and
which has the effect of making the Reorganization illegal or otherwise prohibiting consummation of the Reorganization. 
 (d) LLC
shall have obtained the consent or approval of any person whose consent or approval shall be required under any agreement or instrument in order to permit the consummation of the Reorganization, except those of which, if not obtained, would not,
individually or in the aggregate, have an LLC Material Adverse Effect. 
 (f) PDN shall have obtained the consent or approval of
any person whose consent or approval shall be required under any agreement or instrument in order to permit the consummation of the Reorganization, except those which, if not obtained, would not, individually or in the aggregate, have a PDN Material
Adverse Effect. 

  
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 (g) PDN shall have taken all actions necessary so that not later than the Closing Date, the
Certificate of Incorporation and Bylaws of PDN shall have been amended or adopted, respectively, to be substantially in the form of Exhibit A and Exhibit B, respectfully, attached hereto. 

Section 7.2 Additional Conditions to Obligations of LLC. The obligation of LLC to effect the PDN Merger is subject to the
satisfaction of each of the following conditions prior to the Closing, any of which may be waived in writing exclusively by LLC: 

(a) The representations and warranties of PDN set forth in this Agreement shall be true and correct as of the date of this Agreement and
as of the Closing Date as though made on and as of the Closing Date. 
 (b) PDN shall have performed in all material respects all
material obligations required to be performed by it under this Agreement at or prior to the Closing Date. 
 Section 7.3
Additional Conditions to Obligations of PDN. The obligations of PDN to effect the Reorganization are subject to the satisfaction of each of the following conditions prior to the Closing, any of which may be waived in writing exclusively by
PDN: 
 (a) The representations and warranties of LLC and the Members set forth in this Agreement shall be true and correct as of
the date of this Agreement and as of the Closing Date as though made on and as of the Closing Date. 
 (b) LLC and the Members
shall have performed in all material respects all material obligations required to be performed by each of them under this Agreement at or prior to the Closing Date. 
 Section 7.4 Additional Conditions to Obligations of the Members. The obligations of each Member to effect the Contribution are subject to the satisfaction of each of the following conditions
prior to Closing, any of which may be waived in writing exclusively by each Member: 
 (a) The representations and warranties of
LLC and PDN set forth in this Agreement shall be true and correct as of the date of this Agreement and as of the Closing Date as though made on and as of the Closing Date. 
 (b) Each of LLC and PDN shall have performed in all material respects all material obligations required to be performed by it under this Agreement at or prior to the Closing Date. 

ARTICLE VIII 

TERMINATION AND AMENDMENT 
 Section 8.1 Termination. This Agreement may be terminated at any time prior to the Closing (a) by mutual written consent of LLC and PDN or (b) automatically, upon written notice by
any party hereto delivered to each of the other parties hereto, if any federal or state governmental entity shall have issued a nonappealable final order, decree or ruling or taken any other nonnappealable final action, in each case having the
effect of permanently restraining, enjoining or otherwise prohibiting the Reorganization. 

  
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 Section 8.2 Effect of Termination. In the event of termination of this Agreement
as provided in Section 8.1(a), written notice shall be given to each other party hereto and this Agreement shall immediately become void and there shall be no liability or obligation on the part of the Members, LLC or PDN or any of their
respective officers, directors, or equityholders. 
 Section 8.3 Amendment. This Agreement may be amended by the
parties hereto by an instrument in writing signed on behalf of each of the parties hereto. 
 Section 8.4 Extension;
Waiver. At any time prior to the Closing, the parties hereto may, to the extent legally allowed, (i) extend the time for the performance of any of the obligations or other acts of the other parties hereto, (ii) waive any inaccuracies
in the representations and warranties of the other parties hereto contained herein or in any document delivered pursuant hereto and (iii) waive compliance with any of the agreements or conditions of the other parties hereto contained herein.
Any agreement on the part of a party hereto to any such extension or waiver shall be valid only if set forth in a written instrument signed on behalf of such party. Any waiver or failure to insist on strict compliance with any obligation, covenant,
agreement or condition contained in this Agreement shall not operate as a waiver of, or estoppel with respect to, any subsequent or other failure. 
 ARTICLE IX 
 MISCELLANEOUS 

Section 9.1 Survival of Representations, Warranties and Agreements. The representations, warranties, covenants and agreements
set forth in this Agreement and in any certificates delivered at the Closing in connection with this Agreement shall survive the Closing. 
 Section 9.2 Notices. All notices and other communications hereunder shall be in writing and shall be deemed given if delivered personally, telecopied (which is confirmed) or mailed by
registered or certified mail (return receipt requested) to the parties at the addresses set forth in the Operating Agreement, the Registration Statement or to the last known address of a Member as set forth in the LLC’s records, as the case may
be. 
 Section 9.3 Counterparts. This Agreement may be executed in two or more counterparts, all of which shall be
considered one and the same agreement and shall become effective when two or more counterparts have been signed by each of the parties and delivered to each of the other parties, it being understood that all parties need not sign the same
counterpart. 
 Section 9.4 Entire Agreement; No Third Party Beneficiaries. This Agreement and all documents and
instruments referred to herein (a) constitute the entire agreement and supersede all prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof and thereof, and (b) are not
intended to confer upon any person other than the parties hereto any rights or remedies hereunder. Each party hereto agrees that, except for the representations and warranties contained in this Agreement, none of LLC, PDN or any Member makes any
other representations or warranties, and each hereby disclaims any other representations and warranties made by itself or any of its officers, directors, managers, members, employees, agents, financial and legal advisors or other representatives,
with respect to the execution and delivery of this Agreement or the Reorganization, notwithstanding the delivery or disclosure to any other party or the other party’s representatives of any documentation or other information with respect to any
one or more of the foregoing. 
 Section 9.5 Governing Law. This Agreement shall be governed and construed in
accordance with the laws of the State of Delaware without regard to any applicable conflicts of law. Except as otherwise expressly provided in this Agreement, any suit, action or proceeding seeking to enforce any provision of, or based on any matter
arising out of or in connection with this Agreement or the Reorganization may be brought in any state or federal court sitting in Cook County, Illinois, and each of 

  
 12 

 
the parties hereby consents to the jurisdiction of such courts (and of the appropriate appellate courts therefrom) in any such suit, action or proceeding and irrevocably waives, to the fullest
extent permitted by law, any objection which it may now or hereafter have to the laying of the venue of any such suit, action or proceeding in any such court or that any such suit, action or proceeding which is brought in any such court has been
brought in an inconvenient forum. Process in any such suit, action or proceeding may be served on any party anywhere in the world, whether within or without the jurisdiction of any such court. 

Section 9.6 Assignment. Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned by
any of the parties hereto (whether by operation of law or otherwise) without the prior written consent of the other parties. Subject to the preceding sentence, this Agreement will be binding upon, inure to the benefit of and be enforceable by the
parties and their respective successors and assigns. 
 Section 9.7 Certification Pursuant to DGCL Section 251(f). The
undersigned, being the Secretary of PDN, hereby certifies that no shares of stock of PDN are outstanding prior to the adoption by PDN’s sole Director of the resolution approving this Agreement. 

 

	
	
	
	  
	Myrna Newman

 [Signature Page Follows] 

  
 13 

 IN WITNESS WHEREOF, LLC, PDN and the Members have caused this Agreement to be signed by
their respective duly authorized officers as of the date first written above. 
  

			
	PROFESSIONAL DIVERSITY NETWORK, LLC
	f/k/a iHispano.com, LLC
		
	By:	 	 
		 	James Kirsch, Chief Executive Officer
	
	PROFESSIONAL DIVERSITY NETWORK, INC.
		
	By:	 	  

		 	James Kirsch, Chief Executive Officer
	
	MEMBERS:
	
	  

	James Kirsch
	
	  

	Daniel L. Ladurini, not individually but as Trustee under the Daniel L. Ladurini GST Trust Agreement dated August 1, 1997
	
	  

	Rudy Martinez

  
 14 

 Exhibit A 
 (Amended and Restated Certificate of Incorporation) 

 Exhibit B 
 (Amended and Restated Bylaws) 

 Schedule 5.1 
 (Outstanding LLC Interests) 
  

									
	 Name
	  	LLC Interests	  	Percentage Ownership	 	 	PDN Common Stock
	 Daniel L. Ladurini GST Trust Agreement, dated August 1, 1997
	  		  	 	_____	% 	 	
	 James R. Kirsch
	  		  	 	_____	% 	 	
	 Rudy Martinez
	  		  	 	_____	% 	 	

 Note: Daniel L. Ladurini, not indivdiually but as Trustee of the Daniel L. GST Trust Agreement dated August 1, 1997
(“Ladurini Trust”) and James R. Kirsch (“Kirsch”) are parties to a certain Stock Option Agreement dated
                    , 2013, pursuant to which Kirsch has the right to acquire from the Ladurini Trust a number of shares of PDN Common Stock
equal to seven percent (7%) of the shares of PDN Common Stock issued and outstanding immediately following the Reorganization and prior to the IPO. 
 Note: The Ladurini Trust and Daniel Marovitz (“Marovitz”) are parties to a certain Stock certain Stock Option Agreement dated
                    , 2013, pursuant to which Marovitz has the right to acquire from the Ladurini Trust a number of shares of PDN Common Stock
equal to three percent (3%) of the shares of PDN Common Stock issued and outstanding immediately following the Reorganization and prior to the IPO.

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