Document:

Exhibit 10.4

 

EVERYDAY HEALTH, INC.

 

Form
of Director Indemnification Agreement

 

This
Director Indemnification Agreement, dated as of ___________ ___, 2014 (this
“Agreement”), is made by and between Everyday Health, Inc.,
a Delaware corporation (the “Company”), and _________________
(“Indemnitee”).

 

Recitals

 

A.The Company
desires to attract and retain the services of highly qualified individuals as directors.

 

B.The Company’s
Amended and Restated Bylaws (the “Bylaws”) require that the Company indemnify its directors, and empowers
the Company to indemnify its officers, employees and agents, as authorized by the Delaware General Corporation Law (the
“DGCL”), under which the Company is organized, and such Bylaws expressly provide that the indemnification
provided therein is not exclusive and contemplates that the Company may enter into separate agreements with its directors, officers,
employees and agents to set forth specific indemnification provisions.

 

C.Indemnitee
does not regard the protection currently provided by applicable law, the Company’s governing documents and available insurance
as adequate under the present circumstances, and the Company has determined that Indemnitee and other directors of the Company
may not be willing to serve or continue to serve in such capacities without additional protection.

 

D.The Company
desires and has requested Indemnitee to serve or continue to serve as a director of the Company and has offered this Agreement
to Indemnitee as an additional inducement to serve in such capacity.

 

E.Indemnitee
is willing to serve, or to continue to serve, as a director of the Company if Indemnitee is furnished the indemnity provided for
herein by the Company.

 

F.This
Agreement supersedes and replaces in its entirety any previous Indemnification Agreement entered into between the Company and
Indemnitee.

 

Agreement

 

Now
Therefore, in consideration of the mutual covenants and agreements set forth herein, the parties hereto, intending
to be legally bound, hereby agree as follows:

 

1.Definitions.

 

(a)Agent.
For purposes of this Agreement, the term “agent” of the Company means any person who: (i) is or
was a director, officer, employee or other fiduciary of the Company or a subsidiary of the Company; or (ii) is or
was serving at the request or for the 

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convenience of, or representing the interests of, the Company or a subsidiary of the Company,
as a director, officer, employee or other fiduciary of a foreign or domestic corporation, partnership, joint venture, trust or
other enterprise. 

 

(b)Expenses.
For purposes of this Agreement, the term “expenses” shall be broadly construed and shall include, without
limitation, all direct and indirect costs of any type or nature whatsoever (including, without limitation, all attorneys’,
witness, or other professional fees and related disbursements, premiums, security for and other costs relating to any bonds and
other out-of-pocket costs of whatever nature), actually and reasonably incurred by Indemnitee in connection with the investigation,
defense or appeal of a proceeding or establishing or enforcing a right to indemnification under this Agreement, the DGCL or otherwise,
and amounts paid in settlement by or on behalf of Indemnitee, but shall not include any judgments, fines or penalties actually
levied against Indemnitee for such individual’s violations of law. The term “expenses” shall also include reasonable
compensation for time spent by Indemnitee for which he is not compensated by the Company or any subsidiary or third party (i)
for any period during which Indemnitee is not an agent, in the employment of, or providing services for compensation to, the Company
or any subsidiary; and (ii) if the rate of compensation and estimated time involved is approved by the directors of the Company
who are not parties to any action with respect to which expenses are incurred, for Indemnitee while an agent of, employed by,
or providing services for compensation to, the Company or any subsidiary.

 

(c)Proceeding.
For purposes of this Agreement, the term “proceeding” shall be broadly construed and shall include,
without limitation, any threatened, pending, or completed action, suit, arbitration, alternate dispute resolution mechanism, investigation,
inquiry, administrative hearing or any other actual, threatened or completed proceeding, whether brought in the right of the Company
or otherwise and whether of a civil, criminal, administrative or investigative nature, and whether formal or informal in any case,
in which Indemnitee was, is or will be involved as a party or otherwise by reason of: (i) the fact that Indemnitee is or was a
director of the Company; (ii) the fact that any action was taken by Indemnitee or on Indemnitee’s part while acting as director
of the Company; or (iii) the fact that Indemnitee is or was serving at the request of the Company as a director of another corporation,
partnership, joint venture, trust, employee benefit plan or other enterprise, and in any such case described above, whether or
not serving in any such capacity at the time any liability or expense is incurred for which indemnification, reimbursement, or
advancement of expenses may be provided under this Agreement.

 

(d)Subsidiary.
For purposes of this Agreement, the term “subsidiary” means any corporation or limited liability company
of which more than 50% of the outstanding voting securities or equity interests are owned, directly or indirectly, by the Company
and one or more of its subsidiaries, and any other corporation, limited liability company, partnership, joint venture, trust,
employee benefit plan or other enterprise of which Indemnitee is or was serving at the request of the Company as a director, officer,
employee, agent or fiduciary.

 

(e)Independent
Counsel. For purposes of this Agreement, the term “independent counsel” means a law firm, or a partner
(or, if applicable, member) of such a law firm, that is experienced in matters of corporation law and neither presently is, nor
in the past five (5) years has been, retained to represent: (i) the Company or Indemnitee in any matter 

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material to either
such party, or (ii) any other party to the proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the
foregoing, the term “independent counsel” shall not include any person who, under the applicable standards of professional
conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine
Indemnitee’s rights under this Agreement.

 

2.Agreement
to Serve. Indemnitee will serve, or continue to serve, as a director of the Company faithfully and to the best of his or her
ability, at the will of the Company, so long as Indemnitee is duly appointed or elected and qualified in accordance with the applicable
provisions of the bylaws or other applicable charter documents of the Company, or until such time as Indemnitee tenders his or
her resignation in writing; provided, however, that nothing contained in this Agreement is intended as an employment agreement
between Indemnitee and the Company or any of its subsidiaries or to create any right to continued employment of Indemnitee with
the Company or any of its subsidiaries in any capacity.

 

The Company acknowledges
that it has entered into this Agreement and assumes the obligations imposed on it hereby, in addition to and separate from its
obligations to Indemnitee under the Bylaws, to induce Indemnitee to serve, or continue to serve, as a director of the Company,
and the Company acknowledges that Indemnitee is relying upon this Agreement in serving as a director of the Company.

 

3.Indemnification.

 

(a)Indemnification
in Third Party Proceedings. Subject to Section 10 below, the Company shall indemnify Indemnitee to the fullest
extent permitted by the DGCL, as the same may be amended from time to time (but, only to the extent that such amendment permits
Indemnitee to broader indemnification rights than the DGCL permitted prior to adoption of such amendment), if Indemnitee is a
party to or threatened to be made a party to or otherwise involved in any proceeding by reason of the fact that he or she is or
was a director of the Company, for any and all expenses, actually and reasonably incurred by Indemnitee in connection with the
investigation, defense, settlement or appeal of such proceeding.

 

(b)Indemnification
in Derivative Actions and Direct Actions by the Company. Subject to Section 10 below, the Company shall indemnify
Indemnitee to the fullest extent permitted by the DGCL, as the same may be amended from time to time (but, only to the extent
that such amendment permits Indemnitee to broader indemnification rights than the DGCL permitted prior to adoption of such
amendment), if Indemnitee is a party to or threatened to be made a party to or otherwise involved in any proceeding by or in
the right of the Company to procure a judgment in its favor, against any and all expenses actually and reasonably incurred by
Indemnitee in connection with the investigation, defense, settlement, or appeal of such proceedings.

 

(c)Indemnification
of Related Parties. If (i) Indemnitee is or was affiliated with one or more venture capital funds that has invested in the
Company (an “Appointing Stockholder”), (ii) the Appointing Stockholder is, or is threatened to be made,
a party to or a participant in any proceeding, and (iii) the Appointing Stockholder’s involvement in the proceeding is related
to Indemnitee’s service to the Company as a director of the Company or 

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any direct or indirect subsidiaries of the Company,
then, to the extent resulting from any claim based on Indemnitee’s service to the Company as a director or other fiduciary
of the Company, the Appointing Stockholder will be entitled to indemnification hereunder for reasonable expenses to the same extent
as Indemnitee.

 

(d)Fund Indemnitors.
The Company hereby acknowledges that Indemnitee has certain rights to indemnification, advancement of expenses or insurance,
provided by [Name of Fund/Sponsor] and certain of [its][their] affiliates (collectively, the “Fund Indemnitors”).
In the event that Indemnitee is, or is threatened to be made, a party to or a participant in any proceeding to the extent resulting
from any claim based on Indemnitee’s service to the Company as a director or other fiduciary of the Company, then the Company
shall (i) be an indemnitor of first resort (i.e., its obligations to Indemnitee are primary and any obligation of the Fund
Indemnitors to advance expenses or to provide indemnification for the same expenses or liabilities incurred by Indemnitee are
secondary), (ii) be required to advance reasonable expenses incurred by Indemnitee, and (iii) be liable for the full amount of
all expenses, judgments, penalties, fines and amounts paid in settlement to the extent legally permitted and as required by the
terms of this Agreement and any provision of the Bylaws or the Company’s Amended and Restated Certificate of Incorporation
(the “Certificate of Incorporation”) (or any other agreement between the Company and Indemnitee), without
regard to any rights Indemnitee may have against the Fund Indemnitors. The Company irrevocably waives, relinquishes and releases
the Fund Indemnitors from any and all claims against the Fund Indemnitors for contribution, subrogation or any other recovery
of any kind in respect thereof. No advancement or payment by the Fund Indemnitors on behalf of Indemnitee with respect to any
claim for which Indemnitee has sought indemnification from the Company shall affect the foregoing and the Fund Indemnitors shall
have a right of contribution or be subrogated to the extent of such advancement or payment to all of the rights of recovery of
Indemnitee against the Company. The Fund Indemnitors are third party beneficiaries of the terms of this Section 3(d).

 

4.Indemnification
of Expenses of Successful Party. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee has
been successful on the merits or otherwise in defense of any proceeding or in defense of any claim, issue or matter therein, including
the dismissal of any action without prejudice, the Company shall indemnify Indemnitee against all expenses actually and reasonably
incurred in connection with the investigation, defense or appeal of such proceeding.

 

5.Partial Indemnification.
If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some or a portion of any
expenses actually and reasonably incurred by Indemnitee in the investigation, defense, settlement or appeal of a proceeding, but
is precluded by applicable law or the specific terms of this Agreement to indemnification for the total amount thereof, the Company
shall nevertheless indemnify Indemnitee for the portion thereof to which Indemnitee is entitled.

 

6.Advancement
of Expenses. To the extent not prohibited by law, the Company shall advance the expenses incurred by Indemnitee in connection
with any proceeding, and such advancement shall be made within twenty (20) days after the receipt by the Company of a statement
or statements requesting such advances (which shall include invoices received by Indemnitee in connection with such expenses but,
in the case of invoices in connection with legal 

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services, any references to legal work performed or to expenditures made that
would cause Indemnitee to waive any privilege accorded by applicable law shall not be included with the invoice) and upon request
of the Company, an undertaking to repay the advancement of expenses if and to the extent that it is ultimately determined by a
court of competent jurisdiction in a final judgment, not subject to appeal, that Indemnitee is not entitled to be indemnified
by the Company. Advances shall be unsecured, interest free and without regard to Indemnitee’s ability to repay the expenses.
Advances shall include any and all expenses actually and reasonably incurred by Indemnitee pursuing an action to enforce Indemnitee’s
right to indemnification under this Agreement, or otherwise and this right of advancement, including expenses incurred preparing
and forwarding statements to the Company to support the advances claimed. Indemnitee acknowledges that the execution and delivery
of this Agreement shall constitute an undertaking providing that Indemnitee shall, to the fullest extent required by law, repay
the advance if and to the extent that it is ultimately determined by a court of competent jurisdiction in a final judgment, not
subject to appeal, that Indemnitee is not entitled to be indemnified by the Company. The right to advances under this Section
6 shall continue until final disposition of any proceeding, including any appeal therein. This Section 6 shall not
apply to any claim made by Indemnitee for which indemnity is excluded pursuant to Section 10(b).

 

7.Notice and
Other Indemnification Procedures.

 

(a)Notification
of Proceeding. Indemnitee will notify the Company in writing promptly upon being served with any summons, citation, subpoena,
complaint, indictment, information or other document relating to any proceeding or matter which may be subject to indemnification
or advancement of expenses covered hereunder. The failure of Indemnitee to so notify the Company shall not relieve the Company
of any obligation which it may have to Indemnitee under this Agreement or otherwise, except to the extent it was directly prejudiced
as a result of such failure.

 

(b)Request for
Indemnification and Indemnification Payments. Indemnitee shall notify the Company promptly in writing upon receiving notice
of any demand, judgment or other requirement for payment that Indemnitee reasonably believes to be subject to indemnification
under the terms of this Agreement, and shall request payment thereof by the Company. Indemnification payments requested by Indemnitee
under Section 3 hereof shall be made by the Company no later than sixty (60) days after receipt of the written request
of Indemnitee. Claims for advancement of expenses shall be made under the provisions of Section 6 herein.

 

(c)Application
for Enforcement. In the event the Company fails to make timely payments as set forth in Sections 6 or 7(b) above,
Indemnitee shall have the right to apply to any court of competent jurisdiction for the purpose of enforcing Indemnitee’s
right to indemnification or advancement of expenses pursuant to this Agreement. In such an enforcement hearing or proceeding,
the burden of proof shall be on the Company to prove that indemnification or advancement of expenses to Indemnitee is not required
under this Agreement or permitted by applicable law. Any determination by the Company (including its Board of Directors, stockholders
or independent counsel) that Indemnitee is not entitled to indemnification hereunder, shall not be a defense by the Company to
the action nor create any presumption that Indemnitee is not entitled to indemnification or advancement of expenses hereunder.

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(d)Indemnification
of Certain Expenses. The Company shall indemnify Indemnitee against all expenses incurred in connection with any hearing or
proceeding under this Section 7 unless the Company prevails in such hearing or proceeding on the merits in all material
respects.

 

8.Assumption
of Defense. In the event the Company shall be requested by Indemnitee to pay the expenses of any proceeding, the Company,
if appropriate, shall be entitled to assume the defense of such proceeding, or to participate to the extent permissible in such
proceeding, with counsel reasonably acceptable to Indemnitee. Upon assumption of the defense by the Company and the retention
of such counsel by the Company, the Company shall not be liable to Indemnitee under this Agreement for any fees of counsel subsequently
incurred by Indemnitee with respect to the same proceeding, provided that Indemnitee shall have the right to employ separate counsel
in such proceeding at Indemnitee’s sole cost and expense. Notwithstanding the foregoing, if Indemnitee’s counsel delivers
a written notice to the Company stating that such counsel has reasonably concluded that there is an actual or potential conflict
of interest between the Company and Indemnitee in the conduct of any such defense or the Company shall not, in fact, have employed
counsel or otherwise actively pursued the defense of such proceeding within a reasonable time, then in any such event the fees
and expenses of Indemnitee’s counsel to defend such proceeding shall be subject to the indemnification and advancement of
expenses provisions of this Agreement.

 

9.Insurance.
To the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers,
employees, or agents of the Company or of any subsidiary (“D&O Insurance”), Indemnitee shall be
covered by such policy or policies in accordance with its or their terms to the maximum extent of the coverage available for any
such director, officer, employee or agent under such policy or policies. If, at the time of the receipt of a notice of a claim
pursuant to the terms hereof, the Company has D&O Insurance in effect, the Company shall give prompt notice of the commencement
of such proceeding to the insurers in accordance with the procedures set forth in the respective policies. The Company shall thereafter
take all necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result
of such proceeding in accordance with the terms of such policies.

 

10.Exceptions.

 

(a)Certain
Matters. Any provision herein to the contrary notwithstanding, the Company shall not be obligated pursuant to the terms
of this Agreement to indemnify Indemnitee on account of any proceeding with respect to (i) remuneration paid to
Indemnitee if it is determined by final judgment or other final adjudication that such remuneration was in violation of law
(and, in this respect, both the Company and Indemnitee have been advised that the Securities and Exchange Commission (the
“SEC”) believes that indemnification for liabilities arising under the federal securities laws is
against public policy and is, therefore, unenforceable and that claims for indemnification should be submitted to appropriate
courts for adjudication, as indicated in Section 10(d) below); (ii) a final judgment rendered against Indemnitee
for an accounting, disgorgement or repayment of profits made from the purchase or sale by Indemnitee of securities of the
Company against Indemnitee or in connection with a settlement by or on behalf of Indemnitee to the extent it is acknowledged
by Indemnitee and the 

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Company that such amount paid in settlement
resulted from Indemnitee’s conduct from which Indemnitee received monetary personal profit, pursuant to the provisions of
Section 16(b) of the Securities Exchange Act of 1934, as amended, or other provisions of any federal, state or local statute
or rules and regulations thereunder; (iii) a final judgment or other final adjudication that Indemnitee’s conduct was
in bad faith, knowingly fraudulent or deliberately dishonest or constituted willful misconduct (but only to the extent of such
specific determination); or (iv) on account of conduct that is established by a final judgment as constituting a breach of Indemnitee’s
duty of loyalty to the Company or resulting in any personal profit or advantage to which Indemnitee is not legally entitled. For
purposes of the foregoing sentence, a final judgment or other adjudication may be reached in either the underlying proceeding
or action in connection with which indemnification is sought or a separate proceeding or action to establish rights and liabilities
under this Agreement. 

 

(b)Claims Initiated
by Indemnitee. Any provision herein to the contrary notwithstanding, the Company shall not be obligated to indemnify or advance
expenses to Indemnitee with respect to proceedings or claims initiated or brought by Indemnitee against the Company or its directors,
officers, employees or other agents and not by way of defense, except (i) with respect to proceedings brought to establish or
enforce a right to indemnification under this Agreement or under any other agreement, provision in the Bylaws or Certificate
of Incorporation or applicable law, or (ii) with respect to any other proceeding initiated by Indemnitee that is either approved
by the Board of Directors or Indemnitee’s participation is required by applicable law. However, indemnification or advancement
of expenses may be provided by the Company in specific cases if the Board of Directors determines it to be appropriate.

 

(c)Unauthorized
Settlements. Any provision herein to the contrary notwithstanding, the Company shall not be obligated pursuant to the terms
of this Agreement to indemnify Indemnitee under this Agreement for any amounts paid in settlement of a proceeding effected without
the Company’s written consent. Neither the Company nor Indemnitee shall unreasonably withhold consent to any proposed settlement;
provided, however, that the Company may in any event decline to consent to (or to otherwise admit or agree to any liability
for indemnification hereunder in respect of) any proposed settlement if the Company is also a party in such proceeding and determines
in good faith that such settlement is not in the best interests of the Company and its stockholders.

 

(d)Securities
Act Liabilities. Any provision herein to the contrary notwithstanding, the Company shall not be obligated pursuant to the
terms of this Agreement to indemnify Indemnitee or otherwise act in violation of any undertaking appearing in and required by
the rules and regulations promulgated under the Securities Act of 1933, as amended (the “Act”), or in
any registration statement filed with the SEC under the Act. Indemnitee acknowledges that paragraph (h) of Item 512 of Regulation
S-K currently generally requires the Company to undertake in connection with any registration statement filed under the Act to
submit the issue of the enforceability of Indemnitee’s rights under this Agreement in connection with any liability under
the Act on public policy grounds to a court of appropriate jurisdiction and to be governed by any final adjudication of such issue.
Indemnitee specifically agrees that any such undertaking shall supersede the provisions of this Agreement and to be bound by any
such undertaking.

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11.Nonexclusivity
and Survival of Rights. The provisions for indemnification and advancement of expenses set forth in this Agreement shall not
be deemed exclusive of any other rights which Indemnitee may at any time be entitled under any provision of applicable law, the
Certificate of Incorporation, Bylaws or the Company’s other agreements, both as to action in Indemnitee’s official
capacity and Indemnitee’s action as an agent of the Company, in any court in which a proceeding is brought, and Indemnitee’s
rights hereunder shall continue after Indemnitee has ceased acting as an agent of the Company and shall inure to the benefit of
the heirs, executors, administrators and assigns of Indemnitee. The obligations and duties of the Company to Indemnitee under
this Agreement shall be binding on the Company and its successors and assigns until terminated in accordance with its terms. The
Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially
all of the business or assets of the Company, expressly to assume and agree in writing to perform this Agreement in the same manner
and to the same extent that the Company would be required to perform if no such succession had taken place.

 

No amendment, alteration
or repeal of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under this Agreement in
respect of any action taken or omitted by such Indemnitee in his or her corporate status prior to such amendment, alteration or
repeal. To the extent that a change in the DGCL, whether by statute or judicial decision, permits greater indemnification or advancement
of expenses than would be afforded currently under the Certificate of Incorporation, Bylaws and this Agreement, it is the intent
of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change. No right
or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall be
cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or
otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, by Indemnitee shall not prevent the concurrent
assertion or employment of any other right or remedy by Indemnitee.

 

12.Term.
This Agreement shall continue until and terminate upon the later of: (a) five (5) years after the date that Indemnitee shall have
ceased to serve as a director of the Company; or (b) one (1) year after the final termination of any proceeding, including any
appeal then pending, in respect to which Indemnitee was granted rights of indemnification or advancement of expenses hereunder.

 

No legal action shall
be brought and no cause of action shall be asserted by or in the right of the Company against an Indemnitee or an Indemnitee’s
estate, spouse, heirs, executors or personal or legal representatives after the expiration of five (5) years from the date of
accrual of such cause of action, and any claim or cause of action of the Company shall be extinguished and deemed released unless
asserted by the timely filing of a legal action within such five-year period; provided, however, that if any shorter period
of limitations is otherwise applicable to such cause of action, such shorter period shall govern.

 

13.Subrogation.
In the event of payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights
of recovery of Indemnitee, who, at the request and expense of the Company, shall execute all papers required and shall do everything
that may be reasonably necessary to secure such rights, including the execution of such documents necessary to enable the Company
effectively to bring suit to enforce such rights.

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14.Interpretation
of Agreement. It is understood that the parties hereto intend this Agreement to be interpreted and enforced so as to provide
indemnification to Indemnitee to the fullest extent now or hereafter permitted by law.

 

15.Severability.
If any provision of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever, (a) the
validity, legality and enforceability of the remaining provisions of the Agreement (including without limitation, all portions
of any paragraphs of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that are not themselves
invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby; and (b) to the fullest extent possible,
the provisions of this Agreement (including, without limitation, all portions of any paragraph of this Agreement containing any
such provision held to be invalid, illegal or unenforceable, that are not themselves invalid, illegal or unenforceable) shall
be construed so as to give effect to the intent manifested by the provision held invalid, illegal or unenforceable and to give
effect to Section 14 hereof.

 

16.Amendment
and Waiver. No supplement, modification, amendment, termination, or cancellation of this Agreement shall be binding unless
executed in writing by the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute
a waiver of any other provision hereof (whether or not similar) nor shall such waiver constitute a continuing waiver. 

 

17.Notice.
Except as otherwise provided herein, any notice or demand which, by the provisions hereof, is required or which may be given to
or served upon the parties hereto shall be in writing and, if by confirmed facsimile transmission, shall be deemed to have been
validly served, given or delivered when sent, if by overnight delivery, courier or personal delivery, shall be deemed to have
been validly served, given or delivered upon actual delivery and, if mailed, shall be deemed to have been validly served, given
or delivered three (3) business days after deposit in the United States mail, as registered or certified mail, with proper postage
prepaid and addressed to the party or parties to be notified at the addresses set forth on the signature page of this Agreement
(or such other address(es) as a party may designate for itself by like notice). If to the Company, notices and demands shall be
delivered to the attention of the Secretary of the Company.

 

18.Governing
Law. This Agreement shall be governed exclusively by and construed according to the laws of the State of Delaware, as applied
to contracts between Delaware residents entered into and to be performed entirely within Delaware.

 

19.Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but
all of which together shall constitute but one and the same Agreement. Only one such counterpart need be produced to evidence
the existence of this Agreement.

 

20.Headings.
The headings of the sections of this Agreement are inserted for convenience only and shall not be deemed to constitute part of
this Agreement or to affect the construction hereof.

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21.Entire Agreement.
This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all
prior agreements, understandings and negotiations, written and oral, between the parties with respect to the subject matter of
this Agreement; provided, however, that this Agreement is a supplement to and in furtherance of the Certificate of Incorporation,
Bylaws, the DGCL and any other applicable law, and shall not be deemed a substitute therefor, and does not diminish or abrogate
any rights of Indemnitee thereunder. 

 

*     *     *     *     *

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In
Witness Whereof, the parties hereto have entered into this Agreement effective as of the date first above written.

 

	 	EVERYDAY HEALTH, INC.
	 	 	 
	 	By:	 
	 		Name: 	 
	 	 	Title:	 
	 	 	 	 
	 	 	 	 
	 	INDEMNITEE
	 	 
	 	 
	 	Signature of Indemnitee
	 	 
	 	 
	 	Print or Type Name of IndemniteeExhibit 10.5.7

 

SIXTH LOAN MODIFICATION AGREEMENT

 

This
Sixth Loan Modification Agreement (this “Loan Modification Agreement”) is entered into as of November 14, 2013, by
and among (a) SILICON VALLEY BANK, a California corporation (“Bank”), with its principal place of business
at 3003 Tasman Drive, Santa Clara, California 95054 with a loan production office located at 505 Fifth Avenue, 11th
Floor, New York, New York 10017, and (b) EVERYDAY HEALTH, INC., a Delaware corporation (“Everyday Health”),
with its principal place of business at 345 Hudson Street, 16th Floor, New York, New York 10014, EVERYDAY HEALTH
MEDIA, LLC, a Delaware limited liability company (“Media”), with its principal place of business at 345 Hudson
Street, 16th Floor, New York, New York 10014 and MEDPAGE TODAY, L.L.C., a New Jersey limited liability company
(“MedPage”), with its principal place of business at 345 Hudson Street, 16th Floor, New York, New York
10014 (Everyday Health, Media and MedPage are hereinafter jointly and severally, individually and collectively, referred to as
“Borrower”).

 

1. DESCRIPTION OF EXISTING
INDEBTEDNESS AND OBLIGATIONS. Among other indebtedness and obligations which may be owing by Borrower to Bank, Borrower
is indebted to Bank pursuant to a loan arrangement dated as of September 22, 2010, evidenced by, among other documents, a
certain Loan and Security Agreement dated as of September 22, 2010, as amended by a certain First Loan Modification Agreement
dated as of April 27, 2011, as affected by a certain Joinder Agreement dated as of July 8, 2011, as further amended by a
certain Second Loan Modification Agreement dated as of December 21, 2011, as further amended by a certain Third Loan
Modification Agreement dated as of August 10, 2012, as further amended by a certain Fourth Loan Modification Agreement dated
as of October 22, 2012, and as further amended by a certain Fifth Loan Modification Agreement dated as of September 23, 2013
(as amended, the “Loan Agreement”). Capitalized terms used but not otherwise defined herein shall have the same
meaning as in the Loan Agreement.

 

2. DESCRIPTION OF COLLATERAL.
Repayment of the Obligations is secured by, among other property, (a) the Collateral, (b) the Intellectual Property
Collateral as defined in a certain Intellectual Property Security Agreement dated as of October 22, 2012, between Everyday
Health and Bank (as amended, the “Everyday Health IP Agreement”), (c) the Intellectual Property Collateral as
defined in a certain Intellectual Property Security Agreement dated as of October 22, 2012, between Media and Bank (as
amended, the “Media IP Agreement”), and (d) the Intellectual Property Collateral as defined in a certain
Intellectual Property Security Agreement dated as of October 22, 2012, between MedPage and Bank (as amended, the
“MedPage IP Agreement”) (together with any other collateral security granted to Bank, the “Security
Documents”). Hereinafter, the Security Documents, together with all other documents evidencing or securing the
Obligations shall be referred to as the “Existing Loan Documents”.

 

3. DESCRIPTION OF
CHANGE IN TERMS.

 

		A.	Modifications
                                         to Loan Agreement.

 

		1	The Loan Agreement shall be amended by deleting the following
text appearing in Section 2.1.1(f) thereof:

 

		 	“If (A) the line of credit provided pursuant to Section
2.1.1 is terminated by Bank in accordance with clause (ii) in the foregoing sentence, or (B) this Agreement or the line of credit
provided pursuant to Section 2.1.1 is terminated by Borrower for any reason, Borrower shall pay to Bank a termination fee in an
amount equal to Two Hundred Fifty Thousand Dollars ($250,000.00) (the “Early Termination Fee”).”

 

	 	 	and inserting in lieu thereof the following:

 

	 	 	“If (A) the line of credit provided pursuant to Section 2.1.1 is
    terminated by Bank in accordance with clause (ii) in the foregoing sentence, or (B) this

    	1

    	

    

	 	 	Agreement or the line of credit provided pursuant to Section 2.1.1 is
    terminated by Borrower for any reason, Borrower shall pay to Bank a termination fee in an amount equal to Three Hundred Thousand
    Dollars ($300,000.00) (the “Early Termination Fee”).”

 

	 	2	The Loan Agreement shall be amended by deleting the following definitions
    appearing in Section 13.1 thereof:

 

	 	 	“           “Availability
    Amount” is Twenty-Five Million Dollars ($25,000,000.00).”
	 	 	 
	 	 	“           “Current Liabilities” are (a) all obligations
    and liabilities of Borrower to Bank, plus, without duplication, (b) the aggregate amount of Borrower’s Total Liabilities
    that mature within one (1) year, but excluding in the case of both (a) and (b) Borrower’s obligations and liabilities
    solely with respect to the Term Loan Advance as defined in the Subordinated Loan Agreement.”
	 	 	 
	 	 	“          “Modified Liquidity Ratio” is the ratio of (a)
    Borrower’s unrestricted cash and cash equivalents maintained with Bank plus eighty percent (80.0%) of Eligible Accounts,
    to (b) all obligations and liabilities of Borrower to Bank (but excluding in the case of (b) Borrower’s obligations
    and liabilities solely with respect to the Term Loan Advance as defined in the Subordinated Loan Agreement).”

 

	 	 	and inserting in lieu thereof the following:

 

	 	 	“          “Availability Amount” is Thirty Million Dollars ($30,000,000.00).”

 

	 	 	“          “Current Liabilities” are (a) all obligations
    and liabilities of Borrower to Bank, plus, without duplication, (b) the aggregate amount of Borrower’s Total Liabilities
    that mature within one (1) year, but excluding in the case of both (a) and (b) Borrower’s obligations and liabilities
    solely with respect to the Term Loan Advance and the 2013 Term Loan Advance, as each such term is defined in the Subordinated
    Loan Agreement.”
	 	 	 
	 	 	“          “Modified Liquidity Ratio” is the ratio of (a) Borrower’s
    unrestricted cash and cash equivalents maintained with Bank plus eighty percent (80.0%) of Eligible Accounts, to (b) all obligations
    and liabilities of Borrower to Bank (but excluding in the case of (b) Borrower’s obligations and liabilities solely
    with respect to the Term Loan Advance and the 2013 Term Loan Advance, as each such term is defined in the Subordinated Loan
    Agreement).”

 

	 	3	The Loan Agreement shall be amended by deleting the Compliance Certificate
    that is attached to the Loan Agreement as Exhibit C and inserting in lieu thereof the Compliance Certificate
    attached hereto as Schedule 1.
	 	 	 
	 	4	The Loan Agreement shall be amended by deleting
    the Borrowing Base Certificate that is attached to the Loan Agreement as Exhibit F and inserting in lieu thereof
    the Borrowing Base Certificate attached hereto as Schedule 2.

 

4. FEES AND EXPENSES. Borrower shall reimburse Bank for all legal fees and expenses incurred in connection with this amendment to the Existing Loan Documents.

    	2

    	

    

5. RATIFICATION OF PERFECTION CERTIFICATES.

 

(a)
Everyday Health hereby ratifies, confirms and reaffirms, all and singular, the terms and disclosures contained in a certain Perfection
Certificate dated as of October 22, 2012 executed and delivered by Everyday Health, and acknowledges, confirms and agrees that
the disclosures and information Everyday Health provided to Bank in such Perfection Certificate have not changed, as of the date
hereof, except as set forth on Schedule 3 hereto.

 

(b)
Media hereby ratifies, confirms and reaffirms, all and singular, the terms and disclosures contained in a certain Perfection Certificate
dated as of October 22, 2012 executed and delivered by Media, and acknowledges, confirms and agrees that the disclosures and information
Media provided to Bank in such Perfection Certificate have not changed, as of the date hereof, except as set forth on Schedule
3 hereto.

 

(c) MedPage hereby ratifies, confirms and
reaffirms, all and singular, the terms and disclosures contained in a certain Perfection Certificate dated as of October 22, 2012
executed and delivered by MedPage, and acknowledges, confirms and agrees that the disclosures and information MedPage provided
to Bank in such Perfection Certificate have not changed, as of the date hereof, except as set forth on Schedule 3
hereto.

 

6. RATIFICATION OF IP AGREEMENTS.

 

(a) Everyday Health hereby ratifies, confirms
and reaffirms, all and singular, the terms and conditions of the Everyday Health IP Agreement, and acknowledges, confirms and
agrees that the Everyday Health IP Agreement contains an accurate and complete listing of all Intellectual Property Collateral,
as defined in the Everyday Health IP Agreement (except as set forth on Schedule 4 hereto), and shall remain in full
force and effect.

 

(b) Media hereby ratifies, confirms and
reaffirms, all and singular, the terms and conditions of the Media IP Agreement, and acknowledges, confirms and agrees that the
Media IP Agreement contains an accurate and complete listing of all Intellectual Property Collateral, as defined in the Media
IP Agreement (except as set forth on Schedule 4 hereto), and shall remain in full force and effect.

 

(c) MedPage hereby ratifies, confirms and
reaffirms, all and singular, the terms and conditions of the MedPage IP Agreement, and acknowledges, confirms and agrees that
the MedPage IP Agreement contains an accurate and complete listing of all Intellectual Property Collateral, as defined in the
MedPage IP Agreement (except as set forth on Schedule 4 hereto), and shall remain in full force and effect.

 

7. CONSISTENT CHANGES. The
Existing Loan Documents are hereby amended wherever necessary to reflect the changes described above.

 

8. RATIFICATION OF LOAN DOCUMENTS.
Borrower hereby ratifies, confirms, and reaffirms all terms and conditions of all security or other collateral granted to the
Bank, and confirms that the indebtedness secured thereby includes, without limitation, the Obligations.

 

9. NO DEFENSES OF BORROWER. Borrower
hereby acknowledges and agrees that Borrower has no offsets, defenses, claims, or counterclaims against Bank with respect to the
Obligations, or otherwise, and that if Borrower now has, or ever did have, any offsets, defenses, claims, or counterclaims against
Bank, whether known or unknown, at law or in equity, all of them are hereby expressly WAIVED and Borrower hereby RELEASES Bank
from any liability thereunder.

 

10. CONTINUING VALIDITY.
Borrower understands and agrees that in modifying the existing Obligations, Bank is relying upon Borrower’s
representations, warranties, and agreements, as set forth in the Existing Loan Documents. Except as expressly modified
pursuant to this Loan Modification Agreement, the terms of the Existing Loan Documents remain unchanged and in full force and
effect. Bank’s agreement to modifications to the existing Obligations pursuant to this Loan Modification Agreement in
no way shall obligate Bank to make any future

    	3

    	

    

modifications to the Obligations. Nothing in this Loan Modification
Agreement shall constitute a satisfaction of the Obligations. It is the intention of Bank and Borrower to retain as liable parties
all makers of Existing Loan Documents, unless the party is expressly released by Bank in writing. No maker will be released by
virtue of this Loan Modification Agreement.

 

11. COUNTERSIGNATURE. This
Loan Modification Agreement shall become effective only when it shall have been executed by Borrower and Bank.

 

[Signature page follows.]

    	4

    	

    

This Loan Modification Agreement is executed
as of the date first written above.

 

BORROWER:

 

	EVERYDAY HEALTH, INC.	 
	 	 
	By:	/s/ Alan Shapiro	 
	Name: 	Alan Shapiro	 
	Title:	EVP and General Counsel	 
	 	 
	EVERYDAY HEALTH MEDIA, LLC	 
	 	 
	By:	/s/ Alan Shapiro	 
	Name: 	Alan Shapiro	 
	Title:	EVP and General Counsel	 
	 	 
	MEDPAGE TODAY, L.L.C.	 
	 	 
	By:	/s/ Alan Shapiro	 
	Name: 	Alan Shapiro	 
	Title: 	President	 
	 	 
	BANK:	 
	 	 
	SILICON VALLEY BANK	 
	 	 
	By:	/s/ Michael
    McMahon	 
	Name: 	Michael
    McMahon	 
	Title:	Vice President	 

    	5

    	

    

Schedule 1

 

EXHIBIT C

 

COMPLIANCE CERTIFICATE

 

	TO: 	SILICON VALLEY BANK	Date:	
	FROM:	 	 	 

 

The
undersigned authorized officer of EVERYDAY HEALTH, INC., EVERYDAY HEALTH MEDIA, LLC and MEDPAGE TODAY, L.L.C. (jointly and severally,
individually and collectively, “Borrower”) certifies that under the terms and conditions of the Loan and Security
Agreement among Borrower and Bank (as amended, the “Agreement”):

 

(1)
Borrower is in complete compliance for the period ending _____________ with all required covenants except as noted
below; (2) there are no Events of Default; (3) all representations and warranties in the Agreement are true and correct in
all material respects on this date except as noted below; provided, however, that such materiality qualifier shall not be
applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof;
and provided, further that those representations and warranties expressly referring to a specific date shall be true,
accurate and complete in all material respects as of such date; (4) Borrower, and each of its Subsidiaries, has timely filed
all required tax returns and reports, and Borrower has timely paid all foreign, federal, state and local taxes, assessments,
deposits and contributions owed by Borrower except as otherwise permitted pursuant to the terms of Section 5.9 of the
Agreement; and (5) no Liens have been levied or claims made against Borrower or any of its Subsidiaries relating to unpaid
employee payroll or benefits of which Borrower has not previously provided written notification to Bank.

 

Attached
are the required documents supporting the certification. The undersigned certifies that these are prepared in accordance with
GAAP consistently applied from one period to the next except as explained in an accompanying letter or footnotes. The undersigned
acknowledges that no borrowings may be requested at any time or date of determination that Borrower is not in compliance with
any of the terms of the Agreement, and that compliance is determined not just at the date this certificate is delivered. Capitalized
terms used but not otherwise defined herein shall have the meanings given them in the Agreement.

 

Please indicate compliance status by circling Yes/No under
“Complies” column.

 

	Reporting Covenant	 	Required	 	Complies
	Monthly financial statements with Compliance Certificate	 	Monthly within 30 days	 	Yes    No
	Annual financial statement (CPA Audited)	 	FYE within 180 days	 	Yes   No
	Unbilled Revenue Reports	 	15th and last days of each month	 	Yes   No
	10-Q, 10-K and 8-K	 	Within 5 days after filing with SEC	 	Yes   No   N/A
	 	 	 	 	 
	The following Intellectual Property was registered (or a registration application submitted) after the Fourth LMA Effective Date (if no registrations, state “None”)
	 
	 

    	6

    	

    

	Financial Covenants	 	Required	 	 	 	Actual	 	 	Complies
	Adjusted EBITDA (quarterly)	 	$_____*	 	 	 	$______	 	 	Yes   No   N/A
	Adjusted Quick Ratio** (monthly)	 	1.25:1.0	 	 	 	____:1.0	 	 	Yes   No   N/A
	Minimum Unrestricted and Unencumbered Cash at Bank	 	$10,000,000	 	 	 	$______	 	 	Yes   No   N/A

 

*
As set forth in Section 6.7(a) of the Agreement.

 

** Only applicable upon Bank’s receipt of written notice from Borrower within thirty (30) days of the occurrence of the Equity Event of Borrower’s election of the Adjusted Quick Ratio covenant in lieu of the Adjusted EBITDA covenant, as set forth in Section 6.7(c) of the Agreement.

 

The
following financial covenant analyses and information set forth in Schedule 1 attached hereto are true and accurate as of the
date of this Certificate.

 

The
following are the exceptions with respect to the certification above: (If no exceptions exist, state “No exceptions to note.”)

 

 

 

 

 

 

 

	Everyday Health, Inc.	 	 	BANK USE ONLY	 
	Everyday Health Media, LLC	 	 		 
	MedPage Today, L.L.C.	 	 	Received by: 	 	 
	 	 	 	 		AUTHORIZED SIGNER	 
	 	 	 	 	Date:	 	 
	By:	 	 	 	 	 	 
	Name: 	 	 	 	Verified:	 	 
	Title: 	 	 	 		AUTHORIZED SIGNER	 
	 	 	 	 	Date:	 	 
	 	 	 	 	 	 	 
	 	 	 	 	Compliance Status:                     Yes     No	 

    	7

    	

    

Schedule 1 to Compliance Certificate

 

Financial Covenants of Borrower

 

In
the event of a conflict between this Schedule and the Loan Agreement, the terms of the Loan Agreement shall govern.

 

	Dated: 	 	 

 

 I. Adjusted EBITDA (Section 6.7(a))

 

Required: See chart below

 

	Period	 	EBITDA	 
	Quarter ending September 30, 2010	 	($1,300,000)	 
	Quarter ending December 31, 2010	 	$1,700,000	 
	Quarter ending March 31, 2011	 	($4,800,000)	 
	Quarter ending June 30, 2011	 	($1,000,000)	 
	Quarter ending September 30, 2011	 	$750,000	 
	Quarter ending December 31, 2011	 	N/A	 
	Quarter ending March 31, 2012	 	N/A	 
	Quarter ending June 30, 2012	 	N/A	 
	Quarter ending September 30, 2012	 	($3,000,000)	 
	Quarter ending December 31, 2012	 	$4,000,000	 
	Quarter ending September 30, 2013	 	($3,000,000)	 
	Quarter ending December 31, 2013	 	$11,000,000	 
	Quarter ending March 31, 2014 and each quarter thereafter	 	$_________*	 

 

*To be set in accordance with Section 6.7(a)

 

Actual:

 

	A.	EBITDA (earnings before interest, taxes, depreciation and
    amortization in accordance with GAAP)	 	$__________ 
	 	 	 	 
	B.	Unfinanced capital expenditures of Borrower (including capitalized software
    and development costs)	 	$__________
	 	 	 	 
	C.	Non-cash stock compensation expense	 	$__________
	 	 	 	 
	D.	Reasonable add-backs for non-cash items for which Borrower provided written
    details to Bank 	 	$__________
	 	 	 	 
	E.	Up to Two Million Seven Hundred Thousand Dollars ($2,700,000.00) for
    fiscal year 2012 and up to One Million Four Hundred Fifty Thousand ($1,450,000.00) for fiscal year 2013 in aggregate earn-out
    expense made as a result of the 2011 acquisition of DDC Internet, Inc.	 	$__________

    	8

    	

    

	F.	Up to Five Hundred Fifty Thousand Dollars ($550,000.00) in
    respect of the write-off of deferred financing costs relating to the Horizon and Square 1 Bank credit facilities	 	$__________
	 	 	 	 
	G.	For fiscal year 2012, to the extent approved by Bank in writing in its
    reasonable discretion, one-time restructuring charges incurred as a result of the acquisition by Borrower of Eqal in September
    2012	 	$__________
	 	 	 	 
	H.	For fiscal years 2013 and 2014, as applicable, only to the extent disclosed
    in its profit and loss statements delivered to Bank, up to Ten Million Dollars ($10,000,000.00) in aggregate earn-out expense
    (which expense shall not exceed Five Million Dollars ($5,000,000.00) in cash expense and Five Million Dollars ($5,000,000.00)
    in stock expense) made as a result of the acquisition by Borrower of Eqal in September 2012	 	$__________
	 	 	 	
	I.	Other one-times charges approved by Bank in writing in its sole discretion	 	$__________
	 	 	 	 
	J.	Adjusted EBITDA (line A minus line B plus line C plus line D plus line
    E plus line F plus line G plus line H plus line I)	 	$__________

 

Is line J equal to or greater than $_______ (see chart above)?

 

	________ No, not in compliance	 	 ________ Yes, in compliance

 

II. Adjusted Quick Ratio (Section 6.7(c) —
if applicable)

 

Required:               ≥1.25:1.0

 

Actual:

 

	A.	Aggregate value of the unrestricted cash and cash equivalents
    of Borrower maintained with Bank	 	$__________ 
	 	 	 	 
	B.	Aggregate value of the net billed accounts receivable of Borrower	 	$__________
	 	 	 	 
	C.	Quick Assets (the sum of lines A through B) 	 	$__________
	 	 	 	 
	D.	Aggregate value of Obligations to Bank (excluding Borrower’s obligations
    and liabilities solely with respect to the Term Loan Advance and the 2013 Term Loan Advance, as each such term is defined
    in the Subordinated Loan Agreement)	 	$__________
	 	 	 	 
	E.	Aggregate value of liabilities that should, under GAAP, be classified
    as liabilities on Borrower’s consolidated balance sheet, including all Indebtedness, and not otherwise reflected in
    line D above that matures within one (1) year (excluding Borrower’s obligations and liabilities solely with respect
    to the Term Loan Advance and the 2013 Term Loan Advance, as each such term is defined in the Subordinated Loan Agreement)	 	$__________
	 	 	 	 
	F.	Current Liabilities (the sum of lines D and E) 	 	$__________
	 	 	 	 
	G.	Current portion of the aggregate value of all amounts received or invoiced
    by Borrower in advance of performance under contracts and not yet recognized as revenue	 	$__________
	 	 	 	 
	H. 	Line F minus line G 	 	$__________
	 	 	 	 
	I.	Adjusted Quick Ratio (line C divided by line H)	 	___________

    	9

    	

    

Is line I equal to or greater than 1.25:1:0?

 

	________ No, not in compliance	 	________ Yes, in compliance

 

III. Minimum Cash (Section 6.7(d))

 

	Required	$10,000,000

 

Actual

 

	A.	Aggregate value of the unrestricted and unencumbered cash
    of Borrower maintained with Bank	 	$__________

 

Is line A equal to or greater than the required amount set
forth above?

 

	________ No, not in compliance	 	________ Yes, in compliance

    	10

    	

    

Schedule 2

 

EXHIBIT F

 

BORROWING BASE CERTIFICATE

 

Borrower: Everday Health, Inc., Everyday Health Media, LLC
and MedPage Today, L.L.C.

Lender: Silicon Valley Bank

Commitment Amount: $30,000,000.00

 

ACCOUNTS RECEIVABLE

 

	1.	 	Accounts Receivable Book Value as of _______________	 	$		 
	2.	 	Additions (please explain on reverse)	 	$	 	 
	3.	 	TOTAL ACCOUNTS RECEIVABLE	 	$	 	 
	 	 	 	 	 	 	 
	ELIGIBLE ACCOUNTS RECEIVABLE DEDUCTIONS (without duplication)	 	 	 	 
	4.	 	Amounts over 120 days due (other than Eligible Extended Term Accounts)	 	$	 	 
	5.	 	Accounts owing from an Account Debtor which does not have its principal place of business in the United States or Canada	 	$	 	 
	6.	 	Accounts billed and/or payable outside the United States	 	$	 	 
	7.	 	U.S. Governmental Accounts w/o assignment of claims	 	$	 	 
	8.	 	Contra/Customer Deposit Accounts	 	$	 	 
	9.	 	Accounts not yet invoiced	 	$	 	 
	10.	 	Accounts subject to contractual arrangements (progress, milestone billings, etc.)	 	$	 	 
	11.	 	Accounts subject to withholding	 	$	 	 
	12.	 	Accounts subject trust provisions or subrogation rights of a bonding company	 	$	 	 
	13.	 	Non-trade receivables or accounts not arising in the ordinary course of business	 	$	 	 
	14.	 	Accounts subject to chargebacks or payment deductions	 	$	 	 
	15.	 	Promotion or Demo Accounts; Guaranteed Sale or Consignment Sale Accounts	 	$	 	 
	16.	 	Bill and Hold Accounts	 	$	 	 
	17.	 	Affiliate/Intercompany/Employee Accounts	 	$	 	 
	18.	 	Deferred Revenue related to contracts with cancellable terms	 	$	 	 
	19.	 	Balance of 50.0% over 120 Day Accounts (cross-age or current affected) (or 150 Day Accounts if Eligible Extended Term Accounts)	 	$	 	 
	20.	 	Disputed Accounts	 	$	 	 
	21.	 	Other (please explain on reverse)	 	$	 	 
	22.	 	TOTAL ACCOUNTS RECEIVABLE DEDUCTIONS	 	$	 	 
	23.	 	Eligible Accounts (#3 minus #22)	 	$	 	 
	24.	 	ELIGIBLE AMOUNT OF ACCOUNTS (80.0% of 23)	 	$	 	 
	 	 	 	 	 	 	 
	BALANCES	 	 	 	 
	25.	 	Maximum Loan Amount	 	$	30,000,000.00	 
	26.	 	Total Funds Available (Lower of #24 or #25)	 	$	 	 
	27.	 	Present balance owing on Line of Credit	 	$	 	 
	28.	 	RESERVE POSITION (#26 minus #27)	 	$	 	 

 

The undersigned represents and warrants that this is true,
complete and correct, and that the information in this Borrowing Base Certificate complies with the representations and warranties
in the Loan and Security Agreement among the undersigned and Silicon Valley Bank.

    	11

    	

    

	 	 	BANK USE ONLY	 
	COMMENTS:	 	Received by: 	 	 
	 	 	 		AUTHORIZED SIGNER	 
	EVERYDAY HEALTH, INC.	 	Date:	 	 
	EVERYDAY HEALTH MEDIA, LLC	 	Verified:	 	 
	MEDPAGE TODAY, L.L.C.	 	 	AUTHORIZED SIGNER	 
	 	 	 	Date:	 	 
	By:	 	 	Compliance Status:                       Yes           No	 
		Authorized Signer	 	 	 	 
	Date: 	 	 	 	 	 

    	12

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