Document:

EMPLOYMENT AGREEMENT DATED AS OF JUNE 16, 2011 - DYAN JOZWICK

 Exhibit 10.1 

 
  
 dELiA*s, INC. 
 Employment Agreement for Dyan Jozwick 

 
  

 dELiA*s, INC. 
 Employment Agreement for Dyan Joswick 
  

					
	 	  	Page	 
		
	 1.      Definitions
	  	 	1	  
		
	 2.      Term of Employment
	  	 	3	  
		
	 3.      Position, Duties and Responsibilities
	  	 	3	  
		
	 4.      Base Salary
	  	 	4	  
		
	 5.      Annual Incentive Awards
	  	 	4	  
		
	 6.      Long-Term Stock Incentive Programs
	  	 	4	  
		
	 7.      Employee Benefit Programs
	  	 	5	  
		
	 8.      Disability
	  	 	5	  
		
	 9.      Reimbursement of Business and Other Expenses
	  	 	6	  
		
	 10.    Termination of Employment
	  	 	6	  
		
	 11.    Confidentiality; Cooperation with Regard to Litigation
	  	 	10	  
		
	 12.    Non-competition
	  	 	11	  
		
	 13.    Non-solicitation
	  	 	11	  
		
	 14.    Remedies
	  	 	11	  
		
	 15.    Resolution of Disputes
	  	 	12	  
		
	 16.    Indemnification
	  	 	12	  
		
	 17.    Effect of Agreement on Other Benefits
	  	 	12	  
		
	 18.    Assignability; Binding Nature
	  	 	12	  
		
	 19.    Representation
	  	 	13	  
		
	 20.    Entire Agreement.
	  	 	13	  
		
	 21.    Amendment or Waiver
	  	 	13	  
		
	 22.    Severability
	  	 	13	  
		
	 23.    Survivorship
	  	 	13	  
		
	 24.    Beneficiaries/References
	  	 	13	  
		
	 25.    Governing Law/Jurisdiction
	  	 	14	  
		
	 26.    Notices
	  	 	14	  
		
	 27.    Headings
	  	 	14	  
		
	 28.    Counterparts
	  	 	14	  
		
	 29.    Tax Matters
	  	 	14	  

 EMPLOYMENT AGREEMENT 

AGREEMENT, made and entered into as of the 16th day of June, 2011 by and between dELiA*s, Inc., a Delaware corporation (together with its
successors and assigns permitted under this Agreement, the “Company”), and Dyan Jozwick (the “Executive”). 

W I T N E S S E T H : 
 WHEREAS, the Company desires to employ the Executive pursuant to an agreement embodying the terms of such employment (this “Agreement”) and the Executive desires to enter into this Agreement and
to accept such employment, subject to the terms and provisions of this Agreement; 
 NOW, THEREFORE, in consideration of the
premises and mutual covenants contained herein and for other good and valuable consideration, the receipt of which is mutually acknowledged, the Company and the Executive (individually a “Party” and together the “Parties”) agree
as follows: 
  

	 	1.	Definitions. 

  

	 	(a)	“Amended and Restated 2005 Stock Incentive Plan” shall have the meaning set forth in Section 6 below. 

 

	 	(b)	“Base Salary” shall have the meaning set forth in Section 4 below. 

 

	 	(c)	“Board” shall mean the Board of Directors of the Company. 

  

	 	(d)	“Cause” shall have the meaning set forth in Section 10(b) below. 

 

	 	(e)	“Change in Control” shall be deemed to have occurred as of the first day that any one or more of the following conditions is satisfied:

 (i) Any person or “group” (within the meaning of Section 13(d)(3) of the Securities Exchange
Act of 1934, as amended (the “Exchange Act”)), other than the Company, any subsidiary of the Company, the Executive, or any of their respective Affiliates (each, an “Affiliated Entity”), becomes the “beneficial
owner”(as that term is defined in Rule 13d-3 under the Exchange Act) of securities of the Company representing 50% or more of the combined voting power of the Company’s then outstanding securities ordinarily (and apart from rights accruing
under special circumstances) having the right to vote in the election of directors; 
 (ii) any one of the following occurs:
(A) any merger or consolidation of the Company with or into another entity (other than an Affiliated Entity), except a merger or consolidation (x) in which persons who were stockholders of the Company immediately prior to the merger or
consolidation own, immediately thereafter, directly or indirectly, more than 20% of the combined voting power ordinarily (and apart from rights accruing under special circumstances) having the right to vote in the election of directors of the
continuing or surviving entity or (y) in which the directors of the Company immediately prior to such merger or consolidation would, immediately thereafter, constitute at least a majority of the directors of the continuing or surviving entity;
(B) any 

  
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sale, exchange, lease, transfer or other disposition (in a single transaction or a series of related transactions) of all or substantially all of the assets of the Company on a consolidated basis
to any person or group other than an Affiliated Entity; or (C) any complete liquidation or dissolution of the Company; or 

(iii) individuals who, during any period of 12 consecutive months, are members of the Board of Directors of the Company at the beginning
of such period (the “Existing Directors”), cease, for any reason, to constitute a majority of the number of directors of the Company as determined in the manner prescribed in the Company’s Certificate of Incorporation and
Bylaws; provided, however, that if the election or nomination for election of any new director was approved by a vote of at least 50% of the Existing Directors, such new director shall be . considered an Existing Director. 

 

	 	(f)	“Confidential Information” shall have the meaning set forth in Section 11 below. 

 

	 	(g)	“Constructive Termination Without Cause” shall have the meaning set forth in Section 10(c) below. 

 

	 	(h)	“Effective Date” shall have the meaning set forth in Section 2 below. 

 

	 	(i)	“MIP” shall have the meaning set forth in Section 5 below. 

  
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	 	(j)	“Restriction Period” shall have the meaning set forth in Section 12 below. 

 

	 	(k)	“Severance Period” shall have the meaning set forth in Section 10(c)(ii) below. 

 

	 	(l)	“Subsidiary” shall have the meaning set forth in Section 11 below. 

 

	 	(m)	“Term of Employment” shall have the meaning set forth in Section 2 below. 

 

	 	(n)	“Termination Without Cause” shall have the meaning set forth in Section 10(c) below. 

 

	 	2.	Term of Employment. 

 (a)
The term of the Executive’s employment under this Agreement shall commence on June 16, 2011 (the “Effective Date”) and end on the third anniversary of such date, unless Executive’s employment ceases earlier pursuant to the
terms of this Agreement (the “Term of Employment”). 
 (b) Notwithstanding anything in this Agreement to the contrary,
at least 90 days prior to the expiration of the Term of Employment, the Parties shall meet to discuss this Agreement and attempt to negotiate a mutually acceptable new employment agreement or amendment to this Agreement, governing the period
subsequent to the Term of Employment. Nothing in this subparagraph 2(b) shall obligate Company or Executive to enter into a new employment agreement or an amendment of this Agreement. 

 

	 	3.	Position, Duties and Responsibilities. 

 (a) Generally. Executive shall serve as President of the Company’s dELiA*s Brand (Retail and Direct) reporting to the Company’s Chief Executive Officer at the Company’s office
located at 50 West 23rd Street, New York, New York
10010. Executive shall be responsible for all dELiA*s Brand merchandise whether in the catalog, on dELiA*s website or in the stores. Executive shall be responsible for all fashion and styling direction, visual merchandising of the stores,
trend and color direction, as well as all creative and design elements as they pertain to the design and creative direction of the dELiA*s catalog and website. Executive shall have and perform such duties, responsibilities, and authorities as
shall be reasonably assigned by the Company from time to time and as are consistent with the above-mentioned position, which may be modified as the Company and Executive deem necessary in their reasonable discretion. Executive shall devote
substantially all of Executive’s business time and attention (except for periods of vacation or absence due to illness), and Executive’s best efforts, abilities, experience, and talent to Executive’s position and the businesses of the
Company in accordance with all Company policies. Company agrees that Executive’s title shall not be changed subordinate to the title of President of the Company’s dELiA*s Brand. 

(b) Other Activities. Anything herein to the contrary notwithstanding, nothing in this Agreement shall preclude the Executive from
(i) engaging in reasonable charitable activities and community affairs and (ii) managing Executive’s personal investments and affairs, provided that such activities do not materially interfere with the proper performance of
Executive’s duties and responsibilities under this Agreement and not otherwise detrimental to the interests of the Company. Unless approved in writing by the Board of the Company, such approval not to be unreasonably withheld, the Executive may
not serve on the board of directors of any corporation or the board of any association and/or charitable organization. 

  
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	 	4.	Base Salary. 

 The
Executive shall be paid an annualized salary, payable in accordance with the regular payroll practices (including bi-weekly pay periods) of the Company, of not less than $500,000, less applicable withholdings, subject to annual review thereafter at
the start of each fiscal year for increase at the discretion of the Compensation Committee of the Board (“Base Salary”). Executive’s first annual review is expected to occur on or about April, 2012. Base Salary at any time shall not
be reduced by more than ten percent (10%). 
  

	 	5.	Annual Incentive Awards. 

(a) Subject to the terms and conditions of the plan that shall govern eligibility and participation, Executive shall participate in the
Company’s Management Incentive Plan each year during the Term of Employment (the “MIP”) with a target annual incentive award opportunity of no less than 60% of Base Salary or in a successor plan to the MIP that provides the Executive
with a substantially equivalent opportunity and Company agrees that Executive’s target annual incentive award opportunity shall not be less than 60% of Base Salary. Payment of annual incentive awards shall be made at the same time that other
participants in the MIP receive their incentive awards. 
 (b) Additionally, the minimum amount of the annual incentive award
payable to Executive under the 2011 MIP for the Company’s fiscal year ending January 28, 2012 shall be ($200,000), subject to the terms and conditions of the plan that shall govern eligibility and participation. Such amount shall be
payable as follows: 50% of the minimum amount of the annual incentive award ($100,000) will be paid within thirty (30) days after the Effective Date (the “First MIP Payment”) and the remaining 50% of the minimum bonus amount
($100,000) (the “Second MIP Payment”) will be paid on or about April 1, 2012 at the conclusion of the Company’s annual performance review process. Notwithstanding the foregoing to the contrary, if Employee voluntarily terminates
her employment with the Company on or prior to April 1, 2012, then upon such termination Employee shall pay to Company an amount equal to the pro-rated amount of the First MIP Payment based on a 10 month period and the time remaining from the
date of voluntary termination to April 1, 2012. 
  

	 	6.	Long-Term Stock Incentive Programs. 

 (a) General/Options. Subject to the terms and conditions of the Amended and Restated 2005 Stock Incentive Plan governing eligibility and participation, Executive shall be eligible to participate in
and to receive stock incentive awards under the Amended and Restated 2005 Stock Incentive Plan and any successor plan. Executive shall also receive an initial stock option grant of 300,000 stock options at an exercise price equal to the closing
price of dELiA*s stock on NASDAQ on the day of the Effective Date. 100,000 of such stock options shall vest on the day immediately succeeding the Effective Date and 200,000 of such stock options shall vest in four equal installments of 50,000 on
each of the 1st, 2nd, 3rd and 4th anniversaries of the Effective Date. In addition, upon a Change in Control the tranche of 50,000 stock options which
are scheduled to vest on the next succeeding anniversary of the Effective Date shall vest as of the date of such Change in Control 
 (b) In addition, Employee shall receive a minimum grant of 50,000 stock options as part of the Company’s annual performance review process for each of the next two annual performance review processes
provided Employee receives a “meets expectations” review score. If Employee receives a higher review score than “meets expectations”, subject to Compensation Committee approval, the grant of stock options may be increased above
such amount. 

  
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	 	7.	Employee Benefit Programs; Relocation. 

 (a) During the Term of Employment, the Executive shall be entitled to participate in such employee pension and welfare benefit plans and programs of the Company as are made available to the Company’s
employees generally, as such plans or programs may be in effect or modified from time to time, including, without limitation, health, medical, dental, long-term disability, life insurance, 401(k) with Company match and employee discounts. Executive
will be eligible for four (4) weeks paid vacation as well as Company observed holidays, five (5) sick days and three (3) personal days in accordance with Company policy. The terms of the Company’s official plan documents shall
govern the terms of Executive’s eligibility and participation in Company’s benefit plans. 
 (b) In addition, the
Company shall provide Employee the following through July 31, 2011 to assist with her relocation from California to New York, (i) a $6,000 per month housing/living allowance and up to (ii) four (4) round trip coach class flights
per month between New York and California. 
  

	 	8.	Disability. 

 (a) During
the Term of Employment, and subject to the terms and conditions on eligibility and participation as set forth in the Company’s Long-Term Disability Plan documents, the Executive shall be entitled to disability coverage as described in this
Section 8(a). In the event the Executive becomes disabled, as that term is currently defined under the Company’s Long-Term Disability Plan the Executive shall be entitled to receive benefits pursuant to the Company’s Long-Term
Disability Plan, in place of Executive’s Base Salary and any other employee benefits other than for disabled employees in an amount pursuant to the Company’s Long-Term Disability Plan in effect at the commencement date of the disability
(“Commencement Date”) for a period beginning on the Commencement Date and ending with the Executive’s attainment of age 65. If (i) the Executive ceases to be disabled (as determined in accordance with the terms of the Long-Term
Disability Plan) during the Term of Employment, (ii) Executive’s position or another senior executive position is then vacant and (iii) the Company requests in writing that Executive resume such position, Executive may elect to resume
such position by written notice to the Company within 15 days after the Company delivers its request. If Executive resumes such position, Executive shall thereafter be entitled to Executive’s Base Salary at the annual rate in effect at the
Commencement Date and, for the year Executive resumes Executive’s position, a pro rata annual incentive award and to participate in any other employee benefit programs outlined in Section 6 and 7 of this Agreement that are then in effect.
If Executive ceases to be disabled and does not resume Executive’s position in accordance with the preceding sentence, Executive shall be treated as if Executive voluntarily terminated Executive’s employment pursuant to Section 10(e)
as of the date the Executive ceases to be disabled. If the Executive is not offered Executive’s position or another executive position after Executive ceases to be disabled during the Term of Employment, Executive shall be treated as if
Executive’s employment was terminated without Cause pursuant to Section 10(c) as of the date the Executive ceases to be disabled. 
 (b) Subject to the applicable plan documents, during the period the Executive is receiving disability benefits pursuant to Section 8(a) above, Executive shall continue to be treated as an employee
for purposes of all employee benefits and entitlements in which Executive was participating on the Commencement Date, including without limitation, the benefits and entitlements referred to in Sections 6 and 7 above, except that the Executive shall
not be entitled to receive any annual salary increases or any new stock incentive awards following the Commencement Date. 

  
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	 	9.	Reimbursement of Business and Other Expenses. 

 The Executive is authorized to incur reasonable expenses in carrying out Executive’s duties and responsibilities under this Agreement, and the Company shall promptly reimburse Executive for all
business expenses incurred in connection therewith, subject to documentation in accordance with the Company’s travel and expense reimbursement policy. 
  

	 	10.	Termination of Employment. 

 (a) Termination_Due_to_Death. In the event the Executive’s employment with the Company is terminated due to Executive’s death, Executive’s estate or Executive’s beneficiaries,
as the case may be, shall be entitled to and their sole contractual remedies under this Agreement shall be: 
 (i) Base Salary
through the date of death, which shall be paid in a single lump sum not later than 15 days following the Executive’s death; 
 (ii) the right to exercise all outstanding stock options that are vested as of the date of death for a period of one year following death or for the remainder of the exercise period, if less; 

(iii) the restrictions shall lapse on all shares of restricted stock awarded where restrictions have not yet lapsed; and 

(iv) other or additional benefits then due or earned in accordance with applicable plans and programs of the Company. 

(b) Termination by the Company for Cause. 
 (i) “Cause” shall mean: 
 (A) Executive’s conviction of, entrance
of a plea of guilty or nolo contendere to, a felony unless the Executive’s conduct is so plainly severe or the threat to the Company’s reputation that in the Company’s reasonable business judgment requires the Company to terminate the
Executive immediately in its reasonable discretion or business judgment; or 
 (B) fraudulent conduct by Executive in
connection with the business affairs of the Company; or 
 (C) theft, embezzlement, or other criminal misappropriation of funds
by Executive from the Company (other than good faith expense account disputes); or 
 (D) Executive’s willful misconduct,
which has, or would if generally known, material adversely affect the goodwill, business, or reputation of the Company; or 

(E) Executive’s material breach of this Agreement that is not cured within fifteen (15) days of receipt of written notice from
the Company detailing such alleged material breach. 
 For purposes of this Agreement, an act or failure to act on Executive’s part shall
be considered “willful” if it was done or omitted to be done by Executive not in good faith, and shall not include any act or failure to act resulting from any incapacity of Executive. 

(ii) In the event the Company terminates the Executive’s employment for Cause, Executive shall be entitled to and Executive’s
sole remedies under this 

  
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Agreement shall be: 
 (A) Base Salary through the date of the termination
of Executive’s employment for Cause, which shall be paid in a single lump sum not later than 15 days following the Executive s termination of employment; and 
 (B) other or additional benefits, to the extent then due or earned in accordance with applicable plans or programs of the Company. 
 (c) Termination Without Cause or Constructive Termination Without Cause. In the event the Executive’s employment with the Company is terminated without Cause (which termination shall be
effective as of the date specified by the Company in a written notice to the Executive), other than due to death, or in the event there is a Constructive Termination Without Cause (as defined below), the Executive shall be entitled to and
Executive’s sole remedies under this Agreement shall be: 
 (i) Base Salary through the date of termination of the
Executive’s employment, which shall be paid in a single lump sum not later than 15 days following the Executive’s termination of employment; 
 (ii) Base Salary, at the annualized rate in effect immediately prior to the date of communication (verbal or otherwise) from Company to Executive of termination of the Executive’s employment (or in
the event a reduction in Base Salary is the basis for a Constructive Termination Without Cause, then the Base Salary in effect immediately prior to such reduction), for a period of 6 months following such termination to be paid, less applicable
withholdings, in accordance with the Company’s standard payroll cycle (the “Initial Severance Period”) to the extent that such payment is non-qualified deferred compensation as defined in Code Section 409A (as defined below) such
payments to commence on the sixtieth (60th) day
following the Executive’s termination of employment; provided that if and only if for the seventh (7th) month through the end of the twelfth (12th) month after termination or the portion thereof that Executive does not engage in Competition with the Company as defined in Section 12 below (the “Secondary Severance Period”), then
Executive shall receive Base Salary for the Secondary Severance Period in the same manner as paid for the Initial Severance Period; provided further that the salary continuation payment under this Section 10(c)(ii) shall be in lieu of any
salary continuation arrangements under any other severance program of the Company or any other agreement between the Executive and the Company; 
 (iii) (A) all unvested stock options shall vest as of the date of termination and (B) the right to exercise all outstanding stock options that are vested as of the date of termination during the
90-day period following termination or for the remainder of the exercise period, if less; 
 (iv) continued participation in
all medical, and dental plans at the same benefit and rate level at which Executive was participating on the date of the termination of Executive’s employment, subject to the terms and conditions of the official plan documents, until the and
the end of the Severance Period with the continuation under this section being provided through COBRA; 
 (v) if the
termination occurs prior to April 1, 2012, the Second MIP Payment to be paid in a single lump sum not later than fifteen (15) days after termination; and 
 (vi) other or additional benefits then due or earned in accordance with applicable plans and programs of the Company. 
 “Termination Without Cause” shall mean the Executive’s employment is terminated by the Company for any reason other than Cause (as defined in Section

  
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10 (b)) or due to death. 
 “Constructive Termination Without
Cause” shall mean a termination of the Executive’s employment at Executive’s initiative as provided in this Section 10(c) following the occurrence, without the Executive’s written consent, of one or more of the following
events (except as a result of a prior termination): 
 (A) a material diminution in Executive’s authority, duties or job
responsibilities ; 
 (B) a material diminution in annual Base Salary; or 

(C) a change in the geographic location in which the Executive performs the functions set forth in Section 3(a)
above by more than 50 miles from 50 West 23rd Street, New
York, New York; or 
 (D) a failure by the Company to perform any material obligation under, or breach by the Company of any
material provision of, this Agreement that is not cured within 30 days of receipt of written notice from Executive, including, but not limited to, the provisions of Sections 3(a) and 5(a) and the last sentence of Section 4. 

The Executive must provide notice to the Company of the condition described in (A), (B), (C) or (D) above within a period not
to exceed 120 days of the initial existence of the condition, upon the notice of which the Company shall be provided 30 days during which it may remedy the condition and not be required to pay any amount pursuant to Section 10(c). In addition,
the Executive must terminate employment with the Company within 120 days after the initial existence of the condition. 
 (d)
Change in Control. In the event the Executive’s employment with the Company is terminated without Cause (which termination shall be effective as of the date specified by the Company in a written notice to the Executive), other than due
to death, or in the event there is a Constructive Termination Without Cause (as defined above), in either case within one (1) year following a Change in Control, the Executive shall be entitled to and Executive’s sole remedies under this
Agreement shall be: 
 (i) Base Salary through the date of termination of the Executive’s employment, which shall be paid
in a single lump sum not later than 15 days following the Executive’s termination of employment; 
 (ii) Base Salary, at
the annualized rate in effect immediately prior to the date of communication (verbal or otherwise) from Company to Executive of termination of the Executive’s employment (or in the event a reduction in Base Salary is the basis for a
Constructive Termination Without Cause, then the Base Salary in effect immediately prior to such reduction), for a period of 6 months following such termination to be paid, less applicable withholdings, in accordance with the Company’s standard
payroll cycle (the “Initial Section 10 (d) Severance Period”); provided that if and only if for the Secondary Severance Period Executive does not engage in Competition with the Company as defined in Section 12 below, then
Executive shall receive Base Salary for the Secondary Severance Period in the same manner as paid for the Initial Section 10(d) Severance Period; provided further that the salary continuation payment under this Section 10(d)(ii) shall be
in lieu of any salary continuation arrangements under any other severance program of the Company or any other agreement between the Executive and the Company; 
 (iii) (A) all unvested options shall vest as of the date of termination; and (B) the right to exercise all outstanding stock options that are vested as of the date of termination during the ninety
(90) day period following termination or for the remainder of the 

  
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exercise period if less; 
 (iv) continued participation in all medical,
and dental plans at the same benefit and rate level at which Executive was participating on the date of the termination of Executive’s employment, subject to the terms and conditions of the official plan documents, until the end of the
Section 10 (d) Severance Period with the continuation under this section being provided through COBRA; 
 (v) if the
termination occurs prior to April 1, 2012, the Second MIP Payment to be paid in a single lump sum not later than fifteen (15) days after termination; and 
 (vi) other or additional benefits then due or earned in accordance with applicable plans and programs of the Company. 
 (e) Voluntary_Termination. 
 (i) In the event of a termination of
employment by the Executive on Executive’s own initiative after delivery of 60 days advance written notice, other than a termination due to death or Constructive Termination Without Cause, the Executive shall have the same entitlements as
provided in Section 10(b)(ii) above for a termination for Cause. Notwithstanding any implication to the contrary, the Executive shall not have the right to terminate Executive’s employment with the Company during the Term of Employment
except in the event of a Constructive Termination Without Cause. Any voluntary termination of employment during the Term of Employment shall entitle the Executive to the same entitlements as provided in Section 10(b)(ii) above for a termination
for Cause. In the event the Executive becomes disabled, as that term is defined under the Company’s Long Term Disability Plan, the Executive’s termination of employment shall be governed by the terms of Section 8 of this Agreement.

 (f) No Mitigation; No Offset. In the event of any termination of employment under this Section 10, the Executive
shall not be obligated to seek other employment; amounts due the Executive under this Agreement shall not be offset by any remuneration attributable to any subsequent employment that Executive may obtain. 

(g) Nature of Payments. Any amounts due under this Section 10 are in the nature of severance payments considered to be
reasonable by the Company and are not in the nature of a penalty. 
 (h) Exclusivity of Severance Payments; Remedies Under
this Agreement. Upon termination of the Executive’s employment during the Term of Employment, other than amounts due as provided in this Section 10, Executive shall not be entitled to any severance payments or severance benefits from
the Company. Should Executive accept such severance payments, such payment shall be in lieu of any payments by the Company on account of any claim by Executive of wrongful termination, including, but not limited to, claims under any federal, state
or local human and civil rights or labor laws. The parties agree that the phrase “sole remedies under this Agreement” as used in this Agreement does not include any statutory or common law remedies as to which Executive is be entitled to
pursue provided Executive does not accept any payment under this Section 10. 
 (i) Release of Employment Claims.
The Executive agrees, as a condition to receipt of the termination payments and benefits provided for in this Section 10, that Executive will execute (and not revoke) a release agreement within the time period required by the Company and
applicable law, in a form reasonably satisfactory to the Company and the Executive, releasing any and all claims arising out of the Executive’s employment (other than enforcement of this Agreement). 

  
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	 	11.	Confidentiality; Cooperation with Regard to Litigation. 

 (a) During the Term of Employment and thereafter, the Executive shall not, without the prior written consent of the Company, disclose to anyone or make use of any Confidential Information, except when
required to do so in the normal course of conducting business on behalf of the Company, by legal process, by any governmental agency having supervisory authority over the business of the Company or by any administrative or legislative body
(including a committee thereof) that requires Executive to divulge, disclose or make accessible such information. In the event that the Executive is so ordered, Executive shall give prompt prior written notice to the Company in order to allow the
Company the opportunity to object to or otherwise resist such order and consents and will not object to the Company’s standing to consent or seek protection relating to any such order. 

(b) During the Term of Employment and thereafter, Executive shall not disclose the existence or contents of this Agreement beyond what is
disclosed in the proxy statement or documents filed with the government unless and to the extent such disclosure is required by law, by a governmental agency, or in a document required by law to be filed with a governmental agency or in connection
with enforcement of her rights under this Agreement. In the event that disclosure is so required, the Executive shall give prompt prior written notice to the Company in order to allow the Company the opportunity to object to or otherwise resist such
requirement. This restriction shall not apply to such disclosure by Executive to members of Executive’s immediate family, Executive’s tax, legal or financial advisors, any lender or tax authorities or to potential future employers to the
extent necessary, each of whom shall be advised not to disclose such information. Similarly, Executive acknowledges that the Company shall have the right to advise potential or actual future employers of Executive of her post-employment obligations
under this Agreement. 
 (c) “Confidential Information” shall mean all information that is not known or available to
the public concerning the business of the Company or any Subsidiary relating to any of their products, product development, designs, costing, marketing plans and strategies, expansion plans and strategies, trade secrets, customers, suppliers,
finances, and business plans and strategies. For this purpose, information known or available generally within the trade or industry of the Company or any Subsidiary shall be deemed to be known or available to the public. Confidential Information
shall include information that is, or becomes, known to the public as a result of a breach by the Executive of the provisions of Section 11(a) above. 
 (d) “Subsidiary” shall mean any corporation controlled directly or indirectly by the Company and any affiliate of the Company. 

(e) At any time during the Term of Employment when requested by the Company, or immediately upon Executive’s cessation of employment
with the Company, Executive shall return all Company property to the Company, including, without limitation all Company issued computers, laptops, PDAs, Blackberries or other Company property or Confidential Information. 

(f) The Executive agrees to cooperate with the Company, during the Term of Employment and thereafter (including following the
Executive’s termination of employment for any reason), by making herself available to testify on behalf of the Company or any Subsidiary or affiliate of the Company, in any action, suit, or proceeding, whether civil, criminal, administrative,
or investigative, and to assist the Company, or any Subsidiary or affiliate of the Company, in any such action, suit, or proceeding, by providing information and meeting and consulting with the Board or its representatives or counsel, or
representatives or counsel to the Company, or any Subsidiary or affiliate of the Company, requesting Executive’s provision of testimony or assistance. Notwithstanding anything to the contrary herein, Executive shall only be obligated to comply
with this Section 11(f) if such cooperation or assistance does not materially 

  
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interfere with her professional or personal obligations and the Company secures at its own cost, reasonable travel and lodging expenses to be incurred by Executive in providing such cooperation
and assistance. 
  

	 	12.	Non-competition. 

 (a)
During the Restriction Period (as defined in Section 12(b) below) and in consideration for any payments pursuant to Section 10, the Executive shall not engage in Competition with the Company or any Subsidiary. “Competition” shall
mean engaging in any activity, except as provided below, for a Competitor of the Company or any Subsidiary, whether as an employee, consultant, principal, agent, officer, director, partner, shareholder (except as a less than one percent shareholder
of a publicly traded company) or otherwise. A “Competitor” shall mean the entities on Exhibit A annexed hereto and/or any store based, catalog or internet retailer which principally markets or sells in the United States specialty apparel,
clothing or accessories to girls and women between the ages of 13 and 20 and that first commences to exist and/or operate in Competition with the Company after the Effective Date (a “Competitive Business”). If the Executive commences
employment or becomes a consultant, principal, agent, officer, director, partner, or shareholder of any entity that is not a Competitor at the time the Executive initially becomes employed or becomes a consultant, principal, agent, officer,
director, partner, or shareholder of the entity, future activities of such entity shall not result in a violation of this provision unless (x) such activities were contemplated at the time the Executive initially became employed or becomes a
consultant, principal, agent, officer, director, partner, or shareholder of the entity (and the contemplation of such activities was known to the Executive) or (y) the Executive commences directly or indirectly overseeing or managing the
activities which are competitive with the activities of the Company or Subsidiary. 
 (b) For the purposes of this
Section 12 and Section 13 below, “Restriction Period” shall mean the period beginning with the Effective Date and ending six (6) months after termination. 

 

	 	13.	Non-solicitation 

 (a)
Employees. During the Restriction Period, Executive shall not induce and/or solicit employees of the Company or any Subsidiary to terminate their employment. During the portion of the Restriction Period following the termination of the
Executive’s employment, the Executive shall not directly or indirectly hire any employee of the Company or any Subsidiary or any person who was employed by the Company or any Subsidiary within 180 days of such hiring. 

(b) Vendors/Business Partners. Executive promises and agrees that during the Restriction Period, Executive will not influence or
attempt to influence vendors, or business partners of the Company or any of its present or future subsidiaries, either directly or indirectly, to divert from the Company their business to any individual, partnership, firm, corporation or other
entity then in competition with the business of the Company or any subsidiary or the Company. 
  

	 	14.	Remedies. 

 In addition
to whatever other rights and remedies the Company may have at equity or in law, if the Executive breaches any of the provisions contained in Sections 11, 12 or 13 above or any other obligations of Executive to the Company under this Agreement, the
Company (a) shall have the right to immediately terminate all payments and benefits due under this Agreement (b) shall have the right to seek injunctive relief without the necessity for posting a bond and (c) shall have the right to
seek attorneys’ fees and costs associated with enforcing its rights under this Agreement. The Executive acknowledges that such a breach would cause irreparable injury and that money damages would not provide an adequate remedy for the

  
 11 

 
Company and that the Company retains its rights to seek all other available relief in addition to the relief set forth in this Section. 

 

	 	15.	Resolution of Disputes. 

Any disputes arising under or in connection with this Agreement shall be submitted to the federal or state courts in the State of New
York, New York County. Pending the resolution of any court proceeding, the Company shall continue payment of all amounts and benefits due the Executive under this Agreement. 

 

	 	16.	Indemnification. 

 (a)
Company Indemnity. The Company agrees that if the Executive is made a party, or is threatened to be made a party, to any action, suit or proceeding, whether civil, criminal, administrative or investigative (a “Proceeding”), by
reason of the fact that Executive is or was a director, officer or employee of the Company or any Subsidiary or is or was serving at the request of the Company or any Subsidiary as a director, officer, member, employee or agent of another
corporation, partnership, joint venture, trust or other enterprise, including service with respect to employee benefit plans, whether or not the basis of such Proceeding is the Executive’s alleged action in an official capacity while serving as
a director, officer, member, employee or agent, the Executive shall be defended in the first instance at the Company’s sole cost and expense, indemnified and held harmless by the Company to the fullest extent legally permitted or authorized by
the Company’s certificate of incorporation or bylaws or resolutions of the Company’s Board of Directors or, if greater, by the laws of the State of Delaware, against all cost, expense, liability and loss (including, without limitation,
attorney’s fees, judgments, fines, ERISA excise taxes or penalties and amounts paid or to be paid in settlement) reasonably incurred or suffered by the Executive in connection therewith, and such indemnification shall continue as to the
Executive even if Executive has ceased to be a director, member, officer, employee or agent of the Company or other entity and shall inure to the benefit of the Executive s heirs, executors and administrators. 

(b) No Presumption Regarding Standard of Conduct. Neither the failure of the Company (including its board of directors,
independent legal counsel or stockholders) to have made a determination prior to the commencement of any proceeding concerning payment of amounts claimed by the Executive under Section 16(a) above that indemnification of the Executive is proper
because Executive has met the applicable standard of conduct, nor a determination by the Company (including its board of directors, independent legal counsel or stockholders) that the Executive has not met such applicable standard of conduct, shall
create a presumption that the Executive has not met the applicable standard of conduct. 
 (c) Liability Insurance. The
Company agrees to continue and maintain a directors and officers liability insurance policy covering the Executive to the extent the Company provides such coverage for its other executive officers. 

 

	 	17.	Effect of Agreement on Other Benefits. 

 Except as specifically provided in this Agreement, the existence of this Agreement shall not be interpreted to preclude, prohibit or restrict the Executive’s participation in any other employee
benefit or other plans or programs in which Executive currently participates. 
  

	 	18.	Assignability; Binding Nature. 

 This Agreement shall be binding upon and inure to the benefit of the Parties and their respective successors, heirs (in the case of the Executive) and permitted assigns. No rights or obligations of the
Company under this Agreement may be assigned or transferred by the Company except that such rights or obligations may be assigned or transferred to a subsidiary of 

  
 12 

 
the Company or in connection with the sale or transfer of all or substantially all of the assets of the Company, provided that the assignee or transferee is the successor to all or substantially
all of the assets of the Company and such assignee or transferee assumes the liabilities, obligations and duties of the Company, as contained in this Agreement, either contractually or as a matter of law. The Company further agrees that, in the
event of a sale or transfer of assets as described in the preceding sentence, it shall use reasonable efforts in order to cause such assignee or transferee to expressly assume the liabilities, obligations and duties of the Company hereunder. No
rights or obligations of the Executive under this Agreement may be assigned or transferred by the Executive other than Executive’s rights to compensation and benefits, which may be transferred only by will or operation of law, except as
provided in Section 24 below. 
  

	 	19.	Representation. 

 Each
Party represents and warrants that it is fully authorized and empowered to enter into this Agreement and that the performance of its obligations under this Agreement will not violate any agreement between it and any other person, firm or
organization. 
  

	 	20.	Entire Agreement. 

 This
Agreement contains the entire understanding and agreement between the Parties concerning the subject matter hereof and supersedes all prior agreements, understandings, discussions, negotiations and undertakings, whether written or oral, between the
Parties with respect thereto. 
  

	 	21.	Amendment or Waiver. 

 No
provision in this Agreement may be amended unless such amendment is agreed to in writing and signed by the Executive and an authorized officer of the Company. No waiver by either Party of any breach by the other Party of any condition or provision
contained in this Agreement to be performed by such other Party shall be deemed a waiver of a similar or dissimilar condition or provision at the same or any prior or subsequent time. Any waiver must be in writing and signed by the Executive or an
authorized officer of the Company, as the case may be. 
  

	 	22.	Severability and Modification. 

 In the event that any provision or portion of this Agreement shall be determined to be invalid or unenforceable for any reason, in whole or in part, the remaining provisions of this Agreement shall be
unaffected thereby and shall remain in full force and effect to the fullest extent permitted by law. In the event that a court or other tribunal determines that the restraints in Sections 11, 12 and 13 are in any way overbroad or unenforceable, the
Parties acknowledge and agree that the court or tribunal shall have the right to modify or sever the restraints in order to enforce them to the fullest extent permitted by applicable law. 

 

	 	23.	Survivorship. 

 The
respective rights and obligations of the Parties hereunder shall survive any termination of the Executive’s employment to the extent necessary to the intended preservation of such rights and obligations. 

 

	 	24.	Beneficiaries/References. 

The Executive shall be entitled, to the extent permitted under any applicable law, to select and change a beneficiary or beneficiaries to
receive any compensation or benefit payable hereunder following the Executive’s death by giving the Company written notice thereof. In the event of the Executive’s death or a judicial determination of Executive’s incompetence,
reference in this Agreement to the Executive shall be deemed, where appropriate, to refer to Executive’s 

  
 13 

 
beneficiary, estate or other legal representative. 
  

	 	25.	Governing Law/Jurisdiction. 

 This Agreement shall be governed by and construed and interpreted in accordance with the laws of New York without reference to principles of conflict of laws. Subject to Section 15, the Company and
the Executive hereby consent to the exclusive jurisdiction of any or all of the following courts for purposes of resolving any dispute under this Agreement: (i) the United States District Court for New York and (ii) the Supreme Court of
the State of New York, New York County. The Company and the Executive hereby waive, to the fullest extent permitted by applicable law, any objection which it or he may now or hereafter have to such jurisdiction and any defense of inconvenient forum.

  

	 	26.	Notices. 

 Any notice
given to a Party shall be in writing and shall be deemed to have been given when delivered personally or sent by certified or registered mail, postage prepaid, return receipt requested, or via nationally recognized overnight courier prepaid, duly
addressed to the Party concerned at the address indicated below or to such changed address as such Party may subsequently give such notice of: 
  

			
	 If to the Company:
	  	dELiA*s, Inc.
		  	50 West 23rd St.
		  	New York, New York 10010
		  	Attention: Vice President Human Resources and Vice President and General Counsel
		
	 If to the Executive:
	  	Dyan Jozwick
		  	18221 James Road
		  	Villa Park, CA 92861
		
	 With a copy to:
	  	Michael A. Saffer, Esq.
		  	Mandelbaum Salsburg, P.C.
		  	155 Prospect Avenue
		  	West Orange, New Jersey 07052

  

	 	27.	Headings. 

 The headings
of the sections contained in this Agreement are for convenience only and shall not be deemed to control or affect the meaning or construction of any provision of this Agreement. 

 

	 	28.	Counterparts 

 This
Agreement may be executed in two or more counterparts. 
  

	 	29.	Tax Matters 

 (a) Tax
Withholding. The Company shall withhold from any amounts payable under this Agreement such federal, state and local taxes as may be required to be withheld pursuant to any applicable law or regulation. 

(b) Section 409A Compliance. The intent of the parties is that payments and benefits under this Agreement comply with
Internal Revenue Code Section 409A and the regulations and guidelines promulgated thereunder (collectively “Code Section 409A”) and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in
compliance therewith. If Executive notifies the Company (with specificity as to the reason 

  
 14 

 
therefore) that Executive believes that any provision of this Agreement (or of any award of compensation, including equity compensation or benefits) would cause Executive to incur any additional
tax or interest under Code Section 409A, the Company shall, after consulting with Executive, reform such provision to try to comply with Code Section 409A through good faith modifications to the minimum extent reasonably appropriate to
conform with Code Section 409A. 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 provision of Code Section 409A. 
 (c) Special Section 409A Rules. This paragraph shall apply to all or any portion of any payment or benefit a payable under the Agreement as a result of termination of Executive’s
employment that is not exempted from Code Section 409A (“409A Severance Compensation”). 
 (i) Separation
from Service. If the termination of the Employee’s employment does not qualify as a “separation from service” within the meaning of Treasury Regulation section 1.409A-1(h) from the “Company’s Controlled Group”, then
any 409A Severance Compensation will not commence until a “separation from service” occurs or, if earlier, the earliest other date as is permitted under Code Section 409A. For this purpose, the “Company’s Controlled
Group” means the Company (i) any corporation which is a member of a controlled group of corporations (as defined in Code Section 414(b)) which includes the Company and (ii) any trade or business (whether or not incorporated)
which is under common control (as defined in Code Section 414(c)) with the Company. 
 (ii) Six-Month Delay for
“Specified Employees”. Notwithstanding any provisions to the contrary in this Agreement, if the 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 with regard to any payment or the provision of any benefit that is specified as subject to this Section, such payment or benefit shall not be made or provided prior to the earlier or (i) the expiration of six
(6)-month period measured from the date of Executive’s “separation from service” (as such term is defined under Code Section 409A), and (ii) the date of Executive’s death (the “Delay Period”). Upon the
expiration of the Delay Period, all payments and benefits delayed pursuant to this Section 30(c) (whether they would have otherwise been payable in a single sum or in installments in absence of such delay) shall be reimbursed to the Executive
in a lump sum, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein. 

IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first written above. 

 

			
	 dELiA*s, INC.

		
	By:	 	 /s/ Walter Killough

	Name:	 	Walter Killough
	Title:	 	Chief Executive Officer
	
	 EXECUTIVE

	
	 /s/ Dyan Jozwick

	 Dyan Jozwick

  
 15 

 EXHIBIT A 
 Aeropostale, Inc. 
 Abercrombie & Fitch, Co. 

American Eagle Outfitters, Inc. 
 Wet Seal, Inc.

 Pacific Sunwear of California, Inc. 

Hot Topic, Inc. 
 The Buckle, Inc. 

Charlotte Russe Holding, Inc. 
 Forever 21

 H & M 
 Garage 

All subsidiaries, divisions, affiliates and successors of the above-named entities are included. 

  
 16Employment Agreement

 Exhibit 10.1 
 EMPLOYMENT AGREEMENT 
 AGREEMENT made as of the
6th day of September, 2011 (the “Commencement
Date”) by and between O’Connell Benjamin (hereinafter referred to as the “Employee”) and Authentidate Holding Corp., a Delaware corporation with principal offices located at 300 Connell Drive, Berkeley Heights, NJ 07922.

 W I T N E S S E T H: 
 WHEREAS, Authentidate Holding Corp. and its subsidiaries (the “Company”) are engaged in the business of providing Internet and software-based document authentication services, tele-health
services and related business enterprises; and 
 WHEREAS, the Company desires to continue the employment of the Employee for
the purpose of securing for the Company the experience, ability and services of the Employee; and 
 WHEREAS, the Employee
desires to continue employment with the Company pursuant to the terms and conditions herein set forth, superseding all prior oral and written employment agreements and term sheets and letters between the Company, its subsidiaries and/or predecessors
and Employee. 
 NOW, THEREFORE, it is mutually agreed by and between the parties hereto as follows: 

Article I. 

Definitions 
 1.1 Accrued Compensation. “Accrued Compensation” shall mean an amount which shall include all amounts earned or accrued through the “Termination Date” (as defined below) but not
paid as of the Termination Date, including: 
 (a) Base Salary, 

  
 1 

 (b) reimbursement for business expenses incurred by the Employee on behalf of the Company,
pursuant to the Company’s expense reimbursement policy in effect at such time, 
 (c) expense allowance, 

(d) vacation pay per Company policy, and 
 (e) unpaid bonuses and incentive compensation earned and awarded prior to the Termination Date. 
 1.2 Cashflow Breakeven. “Cashflow Breakeven” shall mean that the Company has achieved positive cash flow from operations by the end of the fiscal year ending June 30, 2012,
determined by reference to the revenues and other amounts received by the Company from its operations; provided, however, that for the purpose of the definition of the term “Cashflow Breakeven”, the term “cash flow from
operations” shall not include: 
 (a) amounts received from the sale, lease or disposition of (i) fixed or capital
assets, except for amounts received in the ordinary course of business; or (ii) any subsidiary company; 
 (b) capital
expenditures; 
 (c) “extraordinary items” of gain or loss as such term is defined in generally accepted accounting
principles in the U.S., 
 (d) interest income and expense; and 

(e) other non-operating items as determined in accordance with generally accepted accounting principles in the United States as
consistently applied during the periods involved. 
 1.3 Cause. “Cause” shall mean: 

(a) willful disobedience by the Employee of a reasonable, material and lawful instruction of the Board of Directors of the Company
consistent with the duties and functions of Employee’s position; 

  
 2 

 (b) conviction of the Employee of any misdemeanor involving fraud or embezzlement or similar
crime, or any felony; 
 (c) conduct amounting to fraud, gross negligence or willful misconduct in the performance of any
material duties to the Company; or 
 (d) excessive absences from work, other than for illness or Disability; provided that the
Company shall not have the right to terminate the employment of Employee pursuant to the foregoing clauses (a), (c) or (d) above unless written notice specifying such breach shall have been given to the Employee and, in the case of breach
which is capable of being cured, the Employee shall have failed to cure such breach within thirty (30) days after his receipt of such notice. 
 1.4 Change in Control. “Change in Control” shall mean any of the following events: 
 (a) An acquisition (other than directly from the Company) of any voting securities of the Company (the “Voting Securities”) by any “Person” (as the term person is used for purposes of
Section 13(d) or 14(d) of the Securities Exchange Act of 1934, as amended (the “1934 Act”)) immediately after which such Person has “Beneficial Ownership” (within the meaning of Rule 13d-3 promulgated under the 1934 Act) of
thirty percent (30%) or more of the combined voting power of the Company’s then outstanding Voting Securities; provided, however, that in determining whether a Change in Control has occurred, Voting Securities which are acquired in a
“Non-Control Acquisition” (as defined below) shall not constitute an acquisition which would cause a Change in Control. 

  
 3 

 (i) A “Non-Control Acquisition” shall mean an acquisition by (1) an employee
benefit plan (or a trust forming a part thereof) maintained by (x) the Company or (y) any corporation or other Person of which a majority of its voting power or its equity securities or equity interest is owned directly or indirectly by
the Company (a “Subsidiary”), or (2) the Company or any Subsidiary. 
 (ii) Notwithstanding an acquisition as
described in this subparagraph (a), a Change in Control shall not be deemed to occur solely because a Person (the “Subject Person”) gained Beneficial Ownership of more than the permitted amount of the outstanding Voting Securities as a
result of the acquisition of Voting Securities by the Company which, by reducing the number of Voting Securities outstanding, increases the proportional number of shares Beneficially Owned by the Subject Person, provided that if a Change in Control
would occur (but for the operation of this sentence) as a result of the acquisition of Voting Securities by the Company, and after such share acquisition by the Company, the Subject Person becomes the Beneficial Owner of any additional Voting
Securities which increases the percentage of the then outstanding Voting Securities Beneficially Owned by the Subject Person, then a Change in Control shall occur. 
 (b) The individuals who, as of the date this Agreement is approved by the Board, are members of the Board (the “Incumbent Board”), cease for any reason to constitute at least two-thirds of the
Board; provided, however, that if the election, or nomination for election by the Company’s stockholders, of any new director was approved by a vote of at least two-thirds 

  
 4 

 
of the Incumbent Board, such new director shall, for purposes of this Agreement, be considered and defined as a member of the Incumbent Board; and provided, further, that no individual shall be
considered a member of the Incumbent Board if such individual initially assumed office as a result of either an actual “Election Contest” (as described in Rule 14a-11 promulgated under the 1934 Act) or other solicitation of proxies or
consents by or on behalf of a Person other than the Board (a “Proxy Contest”); or 
 (c) Approval by stockholders of
the Company of: 
 (i) A merger, consolidation or reorganization involving the Company, unless: (1) the stockholders of
the Company, immediately before such merger, consolidation or reorganization, own, directly or indirectly immediately following such merger, consolidation or reorganization, at least sixty percent (60%) of the combined voting power of the
outstanding voting securities of the corporation resulting from such merger or consolidation or reorganization (the “Surviving Corporation”) in substantially the same proportion as their ownership of the Voting Securities immediately
before such merger, consolidation or reorganization, (2) the individuals who were members of the Incumbent Board immediately prior to the execution of the agreement providing for such merger, consolidation or reorganization constitute at least
two-thirds of the members of the board of directors of the Surviving Corporation, and (3) no Person (other than the Company, any Subsidiary, any employee benefit plan (or any trust forming a part thereof) maintained by the Company, the
Surviving Corporation or any Subsidiary) becomes Beneficial Owner of thirty percent (30%) or more of the combined voting power of the Surviving Corporation’s then outstanding voting securities as a result of such merger, consolidation or
reorganization, a transaction described in clauses (1) through (3) shall herein be referred to as a “Non-Control Transaction”; or 

  
 5 

 (ii) an agreement for the sale or other disposition of all or substantially all of the
assets of the Company, to any Person, other than a transfer to a Subsidiary, in one transaction or a series of related transactions; or 
 (iii) the stockholders of the Company approve any plan or proposal for the liquidation or dissolution of the Company. 
 (d) Notwithstanding anything contained in this Agreement to the contrary, if the Employee’s employment is terminated prior to a Change in Control and the Employee reasonably demonstrates that such
termination (i) was at the request of a third party who has indicated an intention or taken steps reasonably calculated to effect a Change in Control (a “Third Party”) or (ii) otherwise occurred in connection with, or in
anticipation of, a Change in Control, then for all purposes of this Agreement, the date of a Change in Control with respect to the Employee shall mean the date immediately prior to the date of such termination of the Employee’s employment.

 1.5 Continuation Benefits. “Continuation Benefits” shall be the continuation of the Benefits, as defined in
Section 5.1, for the period from the Termination Date to either (i) the later of the Expiration Date, or the end of the month in which the one-year anniversary of the Termination Date occurs, or (ii) such other period as specifically
stated by this Agreement (the “Continuation Period”), at the Company’s expense, less any normal payroll deductions, on behalf of the Employee and his dependents; provided, however, if any of the Benefits required to be provided by the
Company during the Continuation Period under the Company’s benefit plans are, 

  
 6 

 
pursuant to the terms of such plans, not available to non-employees of the Company, the Company, at its sole cost and expense, less any normal payroll deductions, shall be required to provide
such benefits as shall be reasonably available and substantially similar to the benefits provided to employees of the Company. The Company’s obligation hereunder with respect to the foregoing benefits shall also be limited to the extent that if
the Employee obtains such benefits pursuant to a subsequent employer’s benefit plan, the Company may reduce the coverage of any benefits it is required to provide the Employee hereunder as long as the aggregate coverage and benefits of the
combined benefit plans is no less favorable to the Employee than the coverage and benefits required to be provided hereunder. This definition of Continuation Benefits shall not be interpreted so as to limit any benefits to which the Employee, his
dependents or beneficiaries may be entitled under any of the Company’s employee benefit plans, programs or practices following the Employee’s termination of employment, including, without limitation, retiree medical and life insurance
benefits. 
 1.6 Disability. “Disability” shall mean a physical or mental infirmity which impairs the
Employee’s ability to substantially perform his duties with the Company for a period of three consecutive months, and the Employee has not returned to his full time employment prior to the Termination Date as stated in the “Notice of
Termination” (as defined below). 
 1.7 Good Reason. “Good Reason” shall mean without the written consent
of the Employee: 
 (a) a material breach of any provision of this Agreement by the Company; 

(b) failure by the Company to pay when due any compensation to the Employee; 

  
 7 

 (c) a reduction in the Employee’s Base Salary; 

(d) failure by the Company to maintain the Employee in the positions referred to in Section 2.1 of this Agreement, unless such
change was due to a Change of Control; 
 (e) assignment to the Employee of any duties materially and adversely inconsistent
with the Employee’s positions, authority, duties, responsibilities, powers, functions, reporting relationship or title as contemplated by Section 2.1 of this Agreement or any other action by the Company that results in a material
diminution of such positions, authority, duties, responsibilities, powers, functions, reporting relationship or title, unless such change was due to a Change of Control; 
 (f) relocation of the principal office of the Company or the Employee’s principal place of employment to a location outside a 15 (fifteen) mile radius of the present location in Berkeley Heights, New
Jersey, without the Employee’s written consent; or 
 (g) a Change in Control, provided the event on which the Change of
Control is predicated occurs not less than 90 nor more than 150 days of the service of the Notice of Termination by the Employee, it being understood that Employee shall have the right to terminate his employment under this Section 1.7(g) for
any reason or no reason within such 60 day period; 
 and provided further, however, that the Employee agrees not to terminate his employment
for Good Reason pursuant to clauses (a) through (f) unless (A) the Employee has given the Company at least 30 days’ prior written notice of his intent to terminate his employment for Good Reason, which notice shall specify the
facts and circumstances constituting Good Reason; and (B) the Company has not remedied such facts and circumstances constituting Good Reason to the reasonable and good faith satisfaction of the Employee within a 30-day period after receipt of
such notice. 

  
 8 

 1.8 Notice of Termination. “Notice of Termination” shall mean a written
notice from the Company, or the Employee, of termination of the Employee’s employment which indicates the specific termination provision in this Agreement relied upon, if any, and which sets forth in reasonable detail the facts and
circumstances claimed to provide a basis for termination of the Employee’s employment under the provision so indicated. 

1.9 Severance Payment. “Severance Payment” shall mean an amount equal to 12 months of Employee’s Base Salary in
effect on the Termination Date, but no less than $290,000. 
 1.10 Termination Date. Termination Date shall mean

 (a) in the case of the Employee’s death, his date of death; 

(b) in the case of Good Reason, 30 days from the date the Notice of Termination is given to the Company, provided the Company has not
remedied such facts and circumstances constituting Good Reason to the reasonable and good faith satisfaction of the Employee; 

(c) in the case of termination of employment on or after the Expiration Date, the last day of employment; and 

(d) in all other cases, the date specified in the Notice of Termination; provided, however, if the Employee’s employment is
terminated by the Company for any reason except Cause, the date specified in the Notice of Termination shall be at least 30 days from the date the Notice of Termination is given to the Employee, and provided further that in the case of Disability,
the Employee shall not have returned to the full-time performance of his duties during such period of at least 30 days. 

  
 9 

 Article II. 
 Employment 
 2.1 Subject to and upon the terms and conditions of this
Agreement, the Company hereby agrees to continue the employment of the Employee, and the Employee hereby accepts such continued employment in his capacity as President and Chief Executive Officer. The Employee’s position includes acting as an
officer and/or director of any of the Company’s subsidiaries as determined by the Board of Directors. The Company shall nominate Employee, and use its best efforts to have Employee elected to the Board of Directors of the Company (the
“Board”) throughout the term of this Agreement. The Employee agrees to resign from the Board upon the termination of employment for any reason. 
 Article III. 
 Duties 

3.1 The Employee shall, during the term of his employment with the Company, and subject to the direction and control of the Board of
Directors of the Company (the “Board”), report directly to the Board and shall exercise such authority, perform such executive duties and functions and discharge such responsibilities as are reasonably associated with his executive
position or as may be reasonably assigned or delegated to him from time to time by the Board, consistent with his position as President and Chief Executive Officer. In general, Employee shall have management authority with respect to, and
responsibility for, the overall operations and day-to-day business and affairs of the Company and all major operating units. 

  
 10 

 3.2 During the term of this Agreement and excluding periods of vacation and sick leave to
which the Employee is entitled, the Employee agrees to devote substantially all of his business time and attention to the affairs of the Company and, to the extent necessary to discharge the responsibilities assigned hereunder, use his best efforts
in the performance of his duties for the Company and any subsidiary corporation of the Company. During the term of this Agreement the Employee may, so long as it does not materially interfere with his duties hereunder: (i) subject to Article
VII hereof, serve on the board of directors (or equivalent bodies) of civic, non-profit, or charitable organizations or entities unaffiliated with the Company, (ii) deliver lectures or otherwise participate in speaking engagements, and
(iii) manage his personal investments and affairs. 
 3.3 Employee shall undertake regular travel to the Company’s
executive and operational offices, and such other occasional travel within or outside the United States as is or may be reasonably necessary in the interests of the Company. All such travel shall be at the sole cost and expense of the Company, and
all airplane travel shall be first or business class, or otherwise fully reimbursed at cost, to the extent that such reimbursements do not exceed the approximate equivalent published fare for first or business class. Other expenses shall be
reimbursed in accordance with the Company’s policies for executive travel. 
 Article IV. 

Compensation 
 4.1 During the term of this Agreement, Employee shall receive base compensation at the rate of $290,000 per annum (the “Base Salary”); however Employee agrees and acknowledges that 15% of such
Base Salary shall be paid in employee stock options in accordance with that certain Compensation Modification Agreement dated as of February 4, 2011 (the “Modification 

  
 11 

 
Agreement”) and the terms and conditions of options awarded to Employee pursuant to such Modification Agreement shall be governed solely by such Modification Agreement. Employee further
agrees to continue the arrangements contemplated by the Modification Agreement during the term of this Agreement if such continuance is authorize and approved by the Board or the Management Resources and Compensation Committee of the Board (the
“Committee”) and the Company has not achieved Cashflow Breakeven. 
 4.2 Base Salary shall automatically increase by
$50,000 per annum in the event that the Company achieves Cashflow Breakeven during the Company’s fiscal year ending June 30, 2012. 
 4.3 Base Salary shall be paid to the Employee in regular installments on each of the Company’s regular pay dates for executives, but no less frequently than monthly. 

4.4 Employee shall receive a one-time bonus (the “Fixed Bonus”) of $150,000 if the Company’s Common Stock has a closing
price at or above $2.40 for 30 consecutive trading days during the Company’s fiscal year ending June 30, 2012. For the purpose of determining the closing price of the Company’s Common Stock, the closing price of a share of Common
Stock shall mean (i) if the Common Stock is traded on a national securities exchange, including on the Nasdaq Stock Market (“Nasdaq”), the per share closing price of the Common Stock shall be the reported closing price on the
principal securities exchange on which they are listed or on Nasdaq, as the case may be, on the date of determination (or if there is no closing price for such date of determination, then the last preceding business day on which there was a closing
price); or (ii) if the Common Stock is traded in the over-the-counter market and last sales prices for the Common Stock are reported by Bloomberg, L.P. (or a comparable reporting service of national reputation

  
 12 

 
selected by the Company and reasonably acceptable to the Holder if Bloomberg, L.P. is not then reporting sales prices of such security), the per share closing price of the Common Stock shall be
the closing price reported on Bloomberg, L.P., on the date of determination (or if there is no closing price for such date of determination, then the last preceding business day on which there was a closing price). 

4.5 Employee shall be eligible for an additional bonus in the discretion of the Committee of not less than 50% of Base Salary in the
event that the Company, during the fiscal year ending June 30, 2012, achieves (i) Cashflow Breakeven and (ii) the Company (or a subsidiary, including Express MD Solutions, LLC, or any successor entity) executes firm sales contracts
resulting in the sale, during the fiscal year ending June 30, 2012, of at least 7,500 units of the Company’s Electronic House CallTM or Interactive Voice Response telehealth product offerings. 

4.6 For the purposes of calculating the bonuses in Section 4.4 and 4.5, Base Salary shall include the actual Base Salary provided
for in this Agreement. The Fixed Bonus, if earned, shall be paid to Employee within ten business days from the date on which it is determined that the Fixed Bonus has been earned. Any bonus which may be awarded to Employee pursuant to
Section 4.5 shall be paid to the Employee within ten business days from the date that the Company’s independent accountants have reasonably determined that the Company has achieved Cashflow Breakeven and the sales target described in
Section 4.5 has been achieved. 
 4.7 The Company shall deduct from Employee’s compensation all federal, state, and
local taxes which it may now or may hereafter be required to deduct under applicable law. 

  
 13 

 4.8 The Committee will perform an annual review of Employee’s performance and
compensation at the commencement of each fiscal year. Employee may receive such other additional compensation as may be determined from time to time by the Board or Committee including increases in base salary, bonuses and other long term
compensation plans. Nothing in this subparagraph 4.8 shall be deemed or construed to require the Board or Committee to award any bonus or additional compensation. 
 Article V. 
 Benefits 

5.1 During the term hereof, the Company shall provide Employee with the following benefits, as such benefits may change from time to time
(the “Benefits”): (i) group health care and insurance benefits as generally made available to the Company’s senior management; and (ii) such other benefits (including insurance related benefits, holiday, sick leave, personal
days, etc.) obtained by the Company or made generally available to the Company’s senior management; 
 5.2 The Company
shall reimburse Employee, upon presentation of the Company’s standard expense report accompanied by appropriate vouchers and other suitable documentation, incurred by Employee on behalf of the Company, provided such expenditure is consistent
with Company policy. 
 5.3 In the event the Company wishes to obtain Key Man life insurance on the life of Employee, Employee
agrees to cooperate with the Company in completing any applications necessary to obtain such insurance and promptly submit to such physical examinations and furnish such information as any proposed insurance carrier may request. 

5.4 For the term of this Agreement, Employee shall be entitled to paid vacation at the rate of (4) weeks per annum or otherwise in
accordance with current Company policy. 

  
 14 

 Article VI. 
 Non-Disclosure 
 6.1 The Employee shall not, at any time during or after
the termination of his employment hereunder, except when acting on behalf of and with the authorization of the Company, or when required by law or legal process, or where appropriate in response to regulatory authorities, make use of or disclose to
any person, corporation, or other entity, for any purpose whatsoever, any trade secret or other confidential information concerning the Company’s business, finances, marketing, Internet and software-based document authentication services,
digital image authentication services, telehealth products and services, and related business enterprises of the Company and its subsidiaries, including information relating to any customer of the Company, or any other nonpublic business information
of the Company and/or its subsidiaries learned as a consequence of Employee’s employment with the Company, except for information available publicly or from other non-confidential sources (collectively referred to as the “Proprietary
Information”). The Employee acknowledges that Proprietary Information, as they may exist from time to time, are valuable and unique assets of the Company, and that disclosure of any such information would cause substantial injury to the
Company. Proprietary Information shall cease to be Proprietary Information, as applicable, at such time as such information becomes public other than through disclosure, directly or indirectly, by Employee in violation of this Agreement. 

6.2 If Employee is requested or required (by oral questions, interrogatories, requests for information or document subpoenas, civil
investigative demands, or similar process) to disclose any Proprietary Information, Employee shall, unless prohibited by law, promptly notify the Company of such request(s) so that the Company may seek an appropriate protective order. 

  
 15 

 Article VII. 
 Restrictive Covenant 
 7.1 In the event of the termination of
Employee’s employment with the Company at any time, Employee agrees that he will not, for a period of one (1) year following such termination, directly or indirectly, enter into or become associated with or engage in any other business
(whether as a partner, officer, director, shareholder, employee, consultant, or otherwise), which business is primarily involved in Internet and software-based document authentication services, digital image authentication services, delivery of
health-related services and information via telecommunications technologies, and related business enterprises or is otherwise engaged in the same or similar business as the Company in direct competition with the Company, or which the Company was in
the process of developing during the term of Employee’s employment with the Company and such development is based on actual or demonstrative anticipated research. Notwithstanding the foregoing, (x) the ownership by Employee of less than
five percent of the shares of any publicly held corporation shall not violate the provisions of this Article VII, and (y) the Employee shall not be required to comply with any provision of this Article VII following termination of this
Agreement if the amounts required to be paid under Article IX are not timely paid. 
 7.2 In furtherance of the foregoing,
Employee shall not during the aforesaid period of non-competition, directly or indirectly, in connection with any business primarily involved in the Internet and software-based document authentication services and related business enterprises, or

  
 16 

 
digital image authentication services, or any business similar to the business in which the Company was engaged, or in the process of developing during Employee’s tenure with the Company and
such development is based on actual or demonstrative anticipated research, solicit any customer or employee of the Company who was a customer or employee of the Company within one year of the Termination Date. 

7.3 Except as otherwise may be agreed by the Company in writing, in consideration of the employment of Employee by the Company, and free
of any additional obligations of the Company to make additional payment to Employee, Employee agrees to irrevocably assign to the Company any and all inventions, software, manuscripts, documentation, improvements or other intellectual property
whether or not protectable by any state or federal laws relating to the protection of intellectual property, relating to the present or future business of the Company that are developed by Employee during the term of his/her employment with the
Company, either alone or jointly with others, and whether or not developed during normal business hours or arising within the scope of his/her duties of employment. Employee agrees that all such inventions, software, manuscripts, documentation,
improvement or other intellectual property shall be and remain the sole and exclusive property of the Company and shall be deemed the product of work for hire. Employee hereby agrees to execute such assignments and other documents as the Company may
consider appropriate to vest all right, title and interest therein to the Company and hereby appoints the Company Employee’s attorney-in-fact with full powers to execute such document itself in the event employee fails or is unable to provide
the Company with such signed documents. Notwithstanding the foregoing, this provision does not apply to an invention for which no equipment, supplies, facility, or trade secret information of the Company was used and

  
 17 

 
which was developed entirely on Employee’s own time, unless (a) the invention relates (i) to the business of the Company, or (ii) to the Company’s actual or demonstrably
anticipated research or development, or (b) the invention results from any work performed by Employee for the Company. 

7.4 If any court shall hold that the duration of non-competition or any other restriction contained in this Article VII is unenforceable,
it is our intention that same shall not thereby be terminated but shall be deemed amended to delete therefrom such provision or portion adjudicated to be invalid or unenforceable or, in the alternative, such judicially substituted term may be
substituted therefor. 
 Article VIII. 
 Term 
 8.1 This Agreement shall be effective upon execution by both parties
hereto and the employment term (the “Initial Term”) shall commence on the Commencement Date and terminate on June 30, 2012 (the “Expiration Date”), unless sooner terminated upon the death of the Employee, or as otherwise
provided herein. 
 8.2 The Company shall notify the Employee in writing of the Company’s intention to continue
Employee’s employment after the Expiration Date no less than 90 days prior to the Expiration Date. 
 8.3 Upon termination
of the Employee’s employment with the Company, the Company shall pay Employee, in addition to any other payments due hereunder, the amounts due under Article IX. 

  
 18 

 Article IX. 
 Termination 
 9.1 The Company may terminate this Agreement by giving a
Notice of Termination to the Employee in accordance with this Agreement: 
 (a) for Disability; 

(b) for Cause 

(c) without Cause. 
 9.2 Employee may terminate this Agreement at any time by giving 30 days prior written Notice of Termination to the Company in accordance with this Agreement. 

9.3 If the Employee’s employment with the Company shall be terminated, the Company shall pay and/or provide to the Employee the
following compensation and benefits: 
 (a) if the Employee was terminated by the Company for Cause, or the Employee terminates
without Good Reason, the Accrued Compensation; 
 (b) if the Employee was terminated by the Company for Disability, the Accrued
Compensation, the Severance Payment and the Continuation Benefits; or 
 (c) if termination was due to the Employee’s
death, the Accrued Compensation; or 
 (d) if the Employee was terminated by the Company without Cause or the Employee
terminates this Agreement for Good Reason, (i) the Accrued Compensation; (ii) the Severance Payment; and (iii) the Continuation Benefits. 
 (e) In the event the Company fails to notify the Employee in accordance with Section 8.2, or after notifying the Employee fails to reach an agreement on a new employment

  
 19 

 
agreement prior to the Expiration Date, Employee’s employment shall terminate on the Expiration Date and the Company shall pay the Employee the Severance Payment; Accrued Compensation, and
the Continuation Benefits. 
 9.4 The amounts payable under this Section 9.3, shall be paid as follows: 

(a) Accrued Compensation shall be paid on the first regular pay date after the Termination Date (or earlier, if required by applicable
law). 
 (b) If the Continuation Benefits are paid in cash, the payments shall be made on the first day of each month during the
Continuation Period (or earlier, if required by applicable law). 
 (c) The Severance Payments shall be paid in equal
installments in accordance with the Company’s regular pay dates for executives (or earlier, if required by applicable law) during a period of one year commencing with the first regular pay date after the Termination Date; 

9.5 The Employee shall not be required to mitigate the amount of any payment, including the value of any Continuation Benefit, provided
for in this Agreement by seeking other employment or otherwise and no such payment shall be offset or reduced by the amount of any compensation or benefits provided to the Employee in any subsequent employment except as provided in Sections 1.5.

 9.6 For a period of three years following the termination of this Agreement, Employee agrees that he will not make any
negative or derogatory statements in verbal, written, electronic or any other form about the Company, including, but not limited to, a negative or derogatory statement made in, or in connection with, any article or book, on a website, in a chat room
or via 

  
 20 

 
the internet except where such statement is required by law or regulation. During such three year period, none of the executive officers and directors shall make any negative or derogatory
statements in verbal, written, electronic or any other form about the Employee, including, but not limited to, a negative or derogatory statement made in, or in connection with, any article or book, on a website, in a chat room or via the internet
except where such statement is required by law or regulation. 
 Article X. 

Termination of Prior Agreements 
 10.1 This Agreement, and the stock option, bonus plan and benefit plans, sets forth the entire agreement between the parties and supersedes all prior agreements, letters and understandings between the
parties, whether oral or written prior to the effective date of this Agreement, except for the terms of employee stock option plans and option certificates. 
 Article XI. 
 Stock Options 

11.1 As an inducement to Employee to enter into this Agreement, the Company hereby grants to Employee, as of the date of execution of
this Agreement, options to purchase shares of the Company’s Common Stock, $.001 par value, as follows: Subject to the terms and conditions of the Company’s 2011 Omnibus Equity Incentive Plan (the “Plan”), and the terms and
conditions set forth in the Stock Option Agreement which are incorporated herein by reference, the Employee is hereby granted options to purchase 300,000 shares of the Company’s Common Stock (the “Options”), which shall vest as
follows: 
 (a) 100,000 shares covered by the Options shall vest over time as follows (i) Options to purchase 33,333 shares
of Common Stock shall vest on the one year anniversary of the 

  
 21 

 
Commencement Date and (ii) thereafter, the balance shall vest monthly in equal installments over the subsequent 24 months, as long as Employee continues to be an employee of the Company, but
subject to Section 11.2 hereto; 
 (b) 100,000 shares covered by the Options shall vest in the event the Company (or a
subsidiary, including Express MD Solutions, LLC, or any successor entity) executes firm sales contracts resulting in the sale, during the fiscal year ending June 30, 2012, of at least 7,500 units of the Company’s Electronic House
CallTM or Interactive Voice Response telehealth product offerings; and 
 (c) 100,000 shares covered by the Options shall
vest in the event the Company achieves Cashflow Breakeven during the fiscal year ending June 30, 2012. 
 (d) The exercise
price of the Options shall be the fair market value per share of the Company’s Common Stock (as determined in accordance with the Plan) as of the Commencement Date, shall be exercisable for a term of ten years from the Commencement Date and
shall contain such other terms and conditions as set forth in the stock option agreement. The Options provided for herein are not transferable by Employee and shall be exercised only by Employee, or by his legal representative or executor, as
provided in the Plan. Such Options shall terminate as provided in the Plan, except as otherwise modified by this Agreement. 

11.2 In the event of a termination of Employee’s employment with the Company pursuant to Section 9.1(c) or 9.3(e) or by the
Employee for Good Reason, notwithstanding anything herein or in any stock option agreement to the contrary, (a) the Employee’s right to purchase shares of Common Stock of the Company pursuant to any stock option granted prior to the
effective date of this Agreement, shall immediately fully vest and become exercisable, (b) the 

  
 22 

 
exercise period in which Employee may exercise his options to purchase Company common stock shall be extended to the duration of their original term, as if Employee remained an employee of the
Company, and the terms of such options shall be deemed amended to take into account the foregoing provisions. For purposes of clarity, Employee and Company agree that the occurrence of a Change in Control shall not affect the provisions of this
Section 11.2. 
 11.3 In the event of a termination of Employee’s employment with the Company pursuant to
Section 9.1(b), options granted and not exercised as of the Termination Date shall terminate immediately and be null and void. 
 11.4 In the event of a termination of Employee’s employment with the Company due to any other reason, the options granted shall be exercisable only in accordance with the Plan. 

Article XII. 
 Arbitration and Indemnification 
 12.1 Any dispute arising out of the
interpretation, application, and/or performance of this Agreement with the sole exception of any claim, breach, or violation arising under Articles VI or VII hereof shall be settled through final and binding arbitration before a single arbitrator in
the State of New Jersey in accordance with the Rules of the American Arbitration Association. The arbitrator shall be selected by the American Arbitration Association and shall be an attorney-at-law experienced in the field of corporate law. Any
judgment upon any arbitration award may be entered in any court, federal or state, having competent jurisdiction of the parties. 
 12.2 The Company hereby agrees to indemnify, defend, and hold harmless the Employee for any and all claims arising from or related to his employment by the Company at any time asserted, at any place
asserted, to the fullest extent permitted by law. The Company 

  
 23 

 
shall maintain such insurance as is necessary and reasonable (with minimum coverage of not less than $5,000,000) to protect the Employee from any and all claims arising from or in connection with
his employment by the Company during the term of Employee’s employment with the Company and for a period of six (6) years after the date of termination of employment for any reason. The provisions of this Section are in addition to and not
in lieu of any indemnification, defense or other benefit to which Employee may be entitled by statute, regulation, common law or otherwise. 
 Article XIII. 
 Severability 

13.1 If any provision of this Agreement shall be held invalid and unenforceable, the remainder of this Agreement shall remain in full
force and effect. If any provision is held invalid or unenforceable with respect to particular circumstances, it shall remain in full force and effect in all other circumstances. 

Article XIV. 
 Notice 
 14.1 For the purposes of this Agreement, notices and all other
communications provided for in the Agreement shall be in writing and shall be deemed to have been duly given when (a) personally delivered or (b) sent by (i) a nationally recognized overnight courier service or (ii) certified
mail, return receipt requested, postage prepaid and in each case addressed to the respective addresses as set forth below or to any such other address as the party to receive the notice shall advise by due notice given in accordance with this
paragraph. All notices and communications shall be deemed to have been received on (A) if delivered by personal service, the date of delivery thereof; (B) if delivered by a nationally recognized overnight courier service,

  
 24 

 
on the first business day following deposit with such courier service; or (C) on the third business day after the mailing thereof via certified mail. Notwithstanding the foregoing, any
notice of change of address shall be effective only upon receipt. 
 The current addresses of the parties are as follows:

  

			
	IF TO THE COMPANY:	  	Authentidate Holding Corp.
		  	Connell Corporate Center
		  	300 Connell Drive, Fifth Floor
		  	Berkeley Heights, NJ 07922
		
	WITH A COPY TO:	  	Victor J. DiGioia
		  	Becker & Poliakoff, LLP
		  	45 Broadway
		  	New York, NY 10006
		
	IF TO THE EMPLOYEE:	  	O’Connell Benjamin

 Article XV. 
 Benefit 
 15.1 This Agreement shall inure to, and shall be binding upon,
the parties hereto, the successors and assigns of the Company, and the heirs and personal representatives of the Employee. 

  
 25 

 Article XVI. 
 Waiver 
 16.1 The waiver by either party of any breach or violation of any
provision of this Agreement shall not operate or be construed as a waiver of any subsequent breach of construction and validity. 

Article XVII. 
 Governing Law 
 17.1 This Agreement has been negotiated and executed in the
State of New Jersey. The law of the State of New Jersey shall govern the construction and validity of this Agreement. 

Article XVIII. 
 Jurisdiction 
 18.1 Any or all actions or proceedings which may be brought
by the Company or Employee under this Agreement shall be brought in courts having a situs within the State of New Jersey, and Employee and the Company each hereby consent to the jurisdiction of any local, state, or federal court located within the
State of New Jersey. 
 Article XIX. 
 Entire Agreement 
 19.1 This Agreement contains the entire agreement
between the parties hereto. No change, addition, or amendment shall be made hereto, except by written agreement signed by the parties hereto. 
 Remainder of page intentionally left blank. Signature page follows. 

  
 26 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement and affixed their
hands and seals the day and year first above written. 
  

			
	Authentidate Holding Corp.
		
	By:	 	     /s/ John J. Waters

		 	    John J. Waters
		 	    Chairman of the Compensation Committee
	
	Employee
	
	   /s/ O’Connell Benjamin

	   O’Connell Benjamin

	   Employee

  
 27

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