Document:

exv10w1

EXHIBIT 10.1

	 	 	 	 	 

	 

	 	
	 	111 Eighth Avenue 

7th Floor

New York, NY 10011

212.624.3700 Phone

As of July 23, 2011

Steven Zatz, M.D.

c/o WebMD Health Corp.

111 Eighth Avenue

New York, NY 10011-5201

Dear Steve:

     The purpose of this letter is to amend the letter agreement between you and WebMD Health Corp.
(“WebMD Health” or the “Company”) dated as of July 14, 2005 and as amended as of December 14, 2008
(collectively, the “Letter Agreement”) and to describe the material terms of equity grants made to
you on July 23, 2011 (the “Date of Grant”).

     1. Stock Options. On the Date of Grant, the Compensation Committee approved
the grant to you of a non-qualified option (the “Option”) to purchase 75,000 shares of common stock
of WebMD Health Corp. under the terms and conditions of the WebMD Health Corp. Amended and
Restated 2005 Long Term Incentive Plan (the “Equity Plan”). The per share exercise price of the
Option is the closing price of the common stock on July 22, 2011. The Option will have a term of
ten (10) years, subject to earlier termination in the event of the termination of your employment.
The Option shall vest and become exercisable, subject to your continued employment on the
applicable dates as follows: 25% of the Option on each of the first, second, third and fourth
anniversaries of the Date of Grant (full vesting occurring on the fourth anniversary of the Date of
Grant). The Option shall be evidenced by and subject to the terms of the Company’s form of stock
option agreement, which will be sent to you separately.

     2. Restricted Stock. On the Date of Grant, the Compensation Committee approved the
grant to you of 12,000 shares of restricted stock of WebMD Health (the “Shares”) under the terms of
the Equity Plan. The Shares shall vest and the restrictions thereon lapse, subject to your
continued employment on the applicable dates as follows: 25% of the Shares on each of the first,
second, third and fourth anniversaries of the Date of Grant (full vesting occurring on the fourth
anniversary of the Date of Grant. The Shares shall be evidenced by and subject to the terms of the
Company’s form restricted stock agreement, which will be sent to you separately.

     3. Termination of Employment. Section 6(a) of the Employment Agreement is
amended to read in its entirety as follows:

     “ (a) In the event of the termination of your employment by the Company without Cause
or by you for Good Reason (as such terms are defined on Annex A of the Letter Agreement), in
either case within twelve (12) months following a Change of Control of WebMD, subject to
Section 6(b) below and your continued compliance with all restrictive covenant agreements to
which you are bound: (i) you will continue to receive, as severance, your base salary in
effect on the date hereof for a period of one year (the “Severance Period”), payable as set
forth in Section 6(c) of the Letter Agreement, (ii) if such termination occurs after the end
of a calendar year but before the payment of the annual bonus for such prior year, you shall
be entitled to the bonus that you would have

 

 

received for such year at the time that bonuses
are paid to other executive officers of the Company, but in no event later than December 31
of the year in which your employment terminates, and (iii) if you timely elect to continue
your health coverage through COBRA, the Company shall pay that portion of the COBRA premium
that it would pay if you were an active employee with the same type of coverage through the
Severance Period or, if earlier, until you are eligible for comparable coverage with a
subsequent employer, and (iv) any of your option grants to purchase shares of WebMD Health
made on or before July 23, 2011, which remain outstanding at the time of such termination,
to the extent unvested, shall remain outstanding and continue to vest as if you remained in
the employ of the Company until the first anniversary of such date of termination. The term
“Change of Control of WebMD” shall have the meaning ascribed to such term in the Equity
Plan. In the event of termination of your employment for any other reason, you shall receive
compensation earned through the date of termination and your rights with respect to options
and restricted stock will be as specified in the applicable option or restricted stock
agreements.”

     You acknowledge that you continue to be bound by, and you hereby reaffirm your obligations
under the Trade Secret & Proprietary Information Agreement previously annexed as part of the Letter
Agreement and as Annex A to this Letter Agreement and the restrictive covenant agreements you have
signed in connection with your employment, including those annexed as part of your equity
agreements. Defined terms will have the meaning ascribed to them in the Letter Agreement, unless separately
defined herein. Except as set forth herein, the Letter Agreement remains in full force and effect.

Sincerely,

	 	 	 

	/s/ Douglas W. Wamsley
 

	 	 
	Douglas W. Wamsley
	 	 
	EVP-General Counsel
	 	 

Agreed to:

	 	 	 

	/s/ Steven Zatz, M.D.
 

	 	 
	Steven Zatz, M.D.
	 	 

2exv10w2

EXHIBIT 10.2

	 	 	 	 	 

	 

	 	
	 	111 Eighth Avenue 

7th Floor

New York, NY 10011

212.624.3700 Phone

As of July 23, 2011

William E. Pence

c/o WebMD Health Corp.

111 Eighth Avenue

New York, NY 10011-5201

Dear Bill:

     The purpose of this letter is to amend the letter agreement between you and WebMD Health Corp.
(“WebMD Health” or the “Company”) dated as of October 1, 2007 and as amended as of December 10,
2008 and February 11, 2011 (collectively, the “Letter Agreement”) and to describe the material
terms of equity grants made to you on July 23, 2011 (the “Date of Grant”).

     1. Stock Options. On the Date of Grant, the Compensation Committee approved
the grant to you of a non-qualified option (the “Option”) to purchase 75,000 shares of common stock
of WebMD Health Corp. under the terms and conditions of the WebMD Health Corp. Amended and
Restated 2005 Long Term Incentive Plan (the “Equity Plan”). The per share exercise price of the
Option is the closing price of the common stock on July 22, 2011. The Option will have a term of
ten (10) years, subject to earlier termination in the event of the termination of your employment.
The Option shall vest and become exercisable, subject to your continued employment on the
applicable dates as follows: 25% of the Option on each of the first, second, third and fourth
anniversaries of the Date of Grant (full vesting occurring on the fourth anniversary of the Date of
Grant). The Option shall be evidenced by and subject to the terms of the Company’s form of stock
option agreement, which will be sent to you separately.

     2. Restricted Stock. On the Effective Date, the Compensation Committee approved the
grant to you of 12,000 shares of restricted stock of WebMD Health (the “Shares”) under the terms of
the Equity Plan. The Shares shall vest and the restrictions thereon lapse, subject to your
continued employment on the applicable dates as follows: 25% of the Shares on each of the first,
second, third and fourth anniversaries of the Date of Grant (full vesting occurring on the fourth
anniversary of the Date of Grant). The Shares shall be evidenced by and subject to the terms of
the Company’s form restricted stock agreement, which will be sent to you separately.

     3. Termination of Employment. The following two sentences are added
immediately before the last sentence of the current Section 5(a) of the Employment Agreement:

“In addition, in the event of the termination of your employment by the Company without
Cause or by you for Good Reason, in either case within twelve (12) months following a Change
of Control of WebMD, any of your option grants to purchase shares of WebMD Health Corp. made
on or before July 23, 2011, which remain outstanding at the time of such termination, to the
extent unvested, shall remain outstanding and continue to vest as if you remained in the
employ of the Company until the first

 

 

anniversary of such date of termination. The term
“Change of Control of WebMD” shall have the meaning ascribed to such term in the Equity
Plan. “

     You acknowledge that you continue to be bound by, and you hereby reaffirm your obligations
under the Trade Secret & Proprietary Information Agreement annexed as part of the Letter Agreement
and as Annex A to this Letter Agreement and the restrictive covenant agreements you have signed in
connection with your employment, including those annexed as part of your equity agreements. Except
as set forth herein, the Letter Agreement remains in full force and effect.

Sincerely,

	 	 	 

	/s/ Douglas W. Wamsley
 

	 	 
	Douglas W. Wamsley
	 	 
	EVP-General Counsel
	 	 

Agreed to:

	 	 	 

	/s/ William E. Pence
 

	 	 
	William E. Pence
	 	 

2exv10w3

EXHIBIT 10.3

CONFORMED COPY

As of September 25, 2011

Wayne Gattinella

c/o WebMD Health Corp.

111 Eighth Avenue

New York, New York 10011

Dear Wayne:

     Reference is made to the Amended and Restated Employment Agreement between you and WebMD
Health Corp. (“WebMD Health” or the “Company”), dated April 28, 2005 (as previously amended, the
“Employment Agreement”). This letter is intended to describe the material terms of equity grants
made to you on September 25, 2011 (the “Date of Grant”), including the Change in Control
provisions.

     1. Stock Options. On the Date of Grant, the Compensation Committee approved
the grant to you of a non-qualified option (the “Option”) to purchase 75,000 shares of common stock
of WebMD Health Corp. under the terms and conditions of the WebMD Health Corp. Amended and
Restated 2005 Long Term Incentive Plan (the “Equity Plan”). The per share exercise price of the
Option is the closing price of the common stock on September 23, 2011. The Option will have a term
of ten (10) years, subject to earlier termination in the event of the termination of your
employment. The Option shall vest and become exercisable, subject to your continued employment on
the applicable dates as follows: 25% of the Option on each of the first, second, third and fourth
anniversaries of the Date of Grant (full vesting occurring on the fourth anniversary of the Date of
Grant). The Option shall be evidenced by and subject to the terms of the Company’s form of stock
option agreement, which will be sent to you separately.

     2. Restricted Stock. On the Date of Grant, the Compensation Committee approved the
grant to you of 35,000 shares of restricted stock of WebMD Health (the “Shares”) under the terms of
the Equity Plan. The Shares shall vest and the restrictions thereon lapse, subject to your
continued employment on the applicable dates as follows: 25% of the Shares on each of the first,
second, third and fourth anniversaries of the Date of Grant (full vesting occurring on the fourth
anniversary of the Date of Grant). The Shares shall be evidenced by and subject to the terms of
the Company’s form restricted stock agreement, which will be sent to you separately.

     3. Change of Control. Notwithstanding the foregoing, at any time after the
first anniversary of a Change of Control (as defined in the Equity Plan), you may resign, in which
case: (a) this stock option grant will remain outstanding and continue to vest as if you had
remained in the employ of the

 

 

Company until the second anniversary of the resignation, or until the
expiration of its original term if sooner, and (b) that portion of this restricted share grant that
would have vested within two years of the resignation shall accelerate to the date of resignation.
In addition, if you are terminated “without cause” or resign for “good reason” (as those terms are
defined in Annex A hereto, except that changes in your duties, title or responsibilities that are
solely attributable to the Change of Control shall not trigger “good reason” for termination) within 12 months after a Change of Control, (a) this stock option grant will remain
outstanding and continue to vest as if you remained in the employ of WebMD through the third
anniversary of the Change of Control, or until the expiration of its original term if sooner, and
(b) that portion of this restricted share grant that would have vested through the third
anniversary of the Change of Control shall accelerate to the date of termination.

     You acknowledge that you continue to be bound by, and you hereby reaffirm your obligations
under the Trade Secret & Proprietary Information Agreement and the restrictive covenant agreements
you have signed in connection with your employment, including those annexed as part of your equity
agreements, and in consideration of the foregoing, you agree to extend the terms of your existing
non-competition and non-solicitation obligations to two (2) years following your termination of
employment following a Change in Control under circumstances described in Section 3 above.

     Defined terms will have the meaning ascribed to them in the Employment Agreement, unless
separately defined herein. Except as set forth herein, the Employment Agreement remains in full
force and effect.

WebMD Health Corp.

	 	 	 

	/s/ Lewis H. Leicher
 

	 	 
	By: Lewis H. Leicher
	 	 
	Title: Senior Vice President
	 	 

Agreed to:

	 	 	 

	/s/ Wayne Gattinella
 

	 	 
	Wayne Gattinella
	 	 

2

 

ANNEX A

DEFINITIONS

“ Cause ” shall mean any of the following:

(i) your willful failure to perform your duties following written notice from the Company
detailing the specific acts and a thirty (30) day period of time to remedy such failure;

(ii) any willful misconduct, violence or threat of violence that is injurious to the Company
in a material respect or any misconduct relating to your business affairs, at any time, which shall
demonstrably reflect negatively upon the Company or otherwise impair or impede its operations or
reputation in any material respect;

(iii) your breach of a material Company policy, which breach is not remedied (if susceptible
to remedy) following written notice by the Company detailing the specific breach and a thirty (30)
day period of time to remedy such breach;

(iv) any material breach by you of the Employment Agreement or the Trade Secret and
Proprietary Information Agreement, which breach is not remedied (if susceptible to remedy)
following written notice by the Company or its designee detailing the specific breach and a thirty
(30) day period of time to remedy such breach; and

(v) your conviction of a felony in respect of a dishonest or fraudulent act or other crime of
moral turpitude.

“Good Reason” means any of the following conditions or events that remain in effect 30 days
after written notice is provided by you to the Company detailing such condition or event (i) any
reduction in your base salary, (ii) a material reduction in your authority with the Company, and
(iii) any material breach by the Company of the Employment Agreement.

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