Document:

EX-10.13

 Exhibit 10.13 

 

					
	 

  
	  	 	  	Idan Wallichman <[email address]>
	 Fwd: My terms

2 messages
	  	 	  	 
			
	Idan Wallichman <[email address] >	  		  	Wed, Nov 22, 2017 at 5:32 AM
	To: Idan Wallichman <[email address]>	  		  	

 ———Forwarded message——— 

From: Andrey <[email address]> 
 Date: Thu, 5 Oct 2017 at
12:31 
 Subject: Re: My terms 
 To: Idan Wallichman <[email
address]> 
 Confirm 
 On 4 Oct 2017, at
14:08, Idan Wallichman <[email address]> wrote: 
 Hi Andrey 

Following our conversation, I would like to summarise what we agreed. 

 

	 	1.	 50,000 GBP bonus to be paid by the company on the next payroll. 

 

	 	2.	 Currently, my notice period is 6 Months.In the event of change of control in WVL shares, I would like to amend
it to be 12 months notice period from the company and keep 6 months from my side 

  

	 	3.	 Vesting acceleration of my options in the event of an exit. we agree to amend the option agreement so in an
exit event, my options will be fully vested the earlier between the current agreement and 12 months after the exit date. in the event of an exit and if the company decided to release me before the options are fully vested (12 months after the exit
date) the remainder of the options vesting period will be fully accelerated on my departure. All the additional option vesting acceleration post the exit date will be converted to net cash with the same terms of the options which already vested
prior to the exit date. 

  

	 	4.	 Salary raise- we will Increase my salary once the company recruit an HRD, CMO, and IR officer

 Please confirm so I can instruct HR/Mishcon to amend the above. 

Thank youEX-10.14

 Exhibit 10.14 

Worldwide Vision Limited 
 PRIVATE AND
CONFIDENTIAL 
 Idan Wallichman 
 [address] 

_______ October 2019 
  

Dear Idan 
 Project Buzz 

This letter confirms the incentive arrangements that apply to you in connection with the proposed sale of Worldwide Vision Limited (the
“Company”) to one or more funds or investment vehicles of which Blackstone Tactical Opportunities Advisors LLC and Blackstone Management Associated VII L.L.C. are respectively general partner or advisor (the
“Transaction”). 
 You will be entitled to the following payments, subject always to the terms and conditions detailed
below. 
  

	1.	 Bonus Terms 

  

	 	1.1	 Subject to section 2.3, you will, on completion of the Transaction (“Completion”) or as part
of the first payroll following Completion, receive a one-off bonus equal to your bonus entitlement set out in section 2 below (“Bonus”), provided that each of the following conditions have
been met: 

  

	 	(a)	 Completion occurs; 

  

	 	(b)	 you co-operate with any reasonable requests regarding any preparations
reasonably required from you in your capacity as Chief Financial Officer, for the Transaction up to and including Completion; 

  

	 	(c)	 you have not at the time of Completion: 

 

	 	(i)	 voluntarily served notice of resignation, or resigned, from your employment with the Business other than in
circumstances justifying constructive dismissal; or 

  

	 	(ii)	 been served notice of termination of your employment with the Business for reasons of gross misconduct, and
such termination has not subsequently been successfully overturned by you (and is not subject to further appeal by the employer) in a competent employment tribunal or court of law; and 

	 	(d)	 you have at the time of Completion forfeited any other rights to receive proceeds from the Transaction,
including any rights as a holder of equity in the Group (as defined below). 

  

	 	1.2	 Your entitlement to the Bonus is in addition to your basic salary pursuant to the terms of your employment
agreement and any other payments due to you arising from the valid application of any change of control provisions related to your employment. 

  

	 	1.3	 In the event that any of the conditions set out in section 1.1 are not met, you will have no entitlement to the
Bonus, but in those circumstances you will keep any equity rights or other rights to receive proceeds from the Transaction which you are currently holding. 

  

	2.	 Bonus Entitlement 

 

	 	2.1	 Your Bonus shall be determined by reference to the final consideration payable under the Transaction, and in
particular the aggregate enterprise value (for clarity, including the earn out and the price payable for the Quack assets) payable for 100% of the Company shares, its subsidiaries, and their respective businesses and assets and any other minorities
(“Group”) (“EV”). 

  

	 	2.2	 The amount of your Bonus will vary in accordance with the factors set out below: 

 

					
	 EV
	  	Bonus	 
	 If EV is $2,700,000,000
	  	$	5,000,000	 
	 If EV is $2,800,000,000
	  	$	5,999,800	 
	 If EV is $2,900,000,000
	  	$	7,466,450	 
	 If EV is $3,000,000,000
	  	$	8,983,100	 

 For the purposes of this table: 

All amounts are in US dollars. 

If the amount of the EV falls between two rows in the above table, your Bonus will be pro-rated
accordingly. If the EV is above $3,000,000,000, the Bonus will be $8,983,100. If the EV is below $2,700,000,000, the Bonus will be $5,000,000,000. 
  

	 	2.3	 If as part of the Transaction any part of the purchase price is be withheld on Completion
(“Holdback”), including but not limited to any earn out amount and any amounts placed in escrow in connection with potential EV adjustments, litigation, or other contingent risk(s), an equivalent amount of your Bonus will be
withheld and only paid to the extent of later payment of the Holdback. In case of a Holdback, the amount you will receive at Completion or as part of the first payroll following Completion, will be calculated as follows: 

  
 2 

 X = B less (B multiple by Z) 

Where: 
  

			
	X =	  	Amount to be paid to you at Completion or as part of the first payroll following Completion
		
	B =	  	Bonus entitlement as set out in section 2.2
		
	Z =	  	Total aggregate Holdback divided by EV

 By way of illustrative example, if the EV is $3B and the Holdback is $150m, you will receive
$8,533,945 at Completion (or as part of the first payroll following Completion) and the remaining amount will be paid pro-rata applying the above calculations and depending on the amount of the Holdback as
released from time to time, subject to a maximum remaining amount of $449,155. Any such amounts payable from the Holdback shall be paid within five business days of the release of the relevant portion of the Holdback or at the next payroll following
such release date. 
 Entitlement to your portion of the Bonus withheld under a Holdback is not contingent on any condition (including
those set out in section 1.1), other than that the Bonus must have become payable in accordance with the terms of this letter, and the amount of the Holdback released from time to time. 

 

	 	2.4	 If there is any dispute in connection with the quantum of or your entitlement to the Bonus, save in case of
fraud, the determination of Mark Lavie shall be final and binding on the parties hereto. 

  

	3.	 General 

  

	 	3.1	 Your Bonus will be subject to deductions for income tax, employee National Insurance contributions or other
social security contributions or any other sum that the payer is required to deduct at source by law, at the applicable rates (“Tax-Related Items”). Notwithstanding the above, you agree that you shall be obliged to pay any Tax-Related Items not so deducted (other than any amount of employer NICs or apprenticeship levy if relevant), and that the payer may deduct such amounts from any payments to be made to you. 

 

	 	3.2	 No variation of this letter shall be effective unless made in writing and signed by or on behalf of all the
parties to this letter and expressed to be such a variation. 

  
 3 

	 	3.3	 This letter and all matters (including any contractual or
non-contractual obligation) arising from or connected with it are governed by, and will be construed in accordance with, English law and, without prejudice to section 2.4, the English courts shall have
exclusive jurisdiction to settle all disputes arising in connection with any such matters. 

  

	 	3.4	 Nothing contained in this letter gives you the right to continue in the employment of the Group or otherwise
impede the ability of the Group to terminate your employment (subject at all times to the terms of your employment agreement). 

  

	 	3.5	 Except for sections 3.1 and 3.4, this letter does not confer any rights on any person or party under the
Contracts (Rights of Third Parties) Act 1999. 

  

	 	3.6	 This letter supersedes and replaces in all respects, any previous oral or written agreements or arrangements
relating to the award of bonuses or incentive payments in relation to the Transaction to you and you acknowledge and agree that you shall have no right to any such bonus or incentive payment and waive any right you may have to the same. Nothing in
this agreement shall exclude any liability for, or remedy in respect of, fraudulent misrepresentation. 

  

	 	3.7	 You agree that you may not assign any rights or interests in or arising out of this letter.

  

	 	3.8	 This letter may be executed as two or more counterparts and execution by each of the parties of any one of such
counterparts will constitute due execution of this letter. 

 Please countersign this document as evidence of receipt and
agreement to the proposal outlined above. 
 Yours Sincerely 

Signed on behalf of Worldwide Vision Limited: 
  

							
		 	Andrey Ogandzhanyants	 		  	Mark Lavie
				
		 	 /s/ Andrey Ogandzhanyants
	 		  	 /s/ Mark Lavie

 Date:
                                         
    

  
 4 

			
	Agreed and accepted by:	 	
		
	/s/ Idan Wallichman	 	  

	Idan Wallichman	 	

 Date:
                                         
                    

  
 5EX-10.15

 Exhibit 10.15 

Buzz Holdings L.P. 
 December 11, 2019 

Idan Wallichman 
  

	Re:	 Retention Bonus and Post-Transaction Employment Terms and Conditions 

Dear Idan: 
 Buzz Holdings L.P.
(“Parent”) has identified you as key to the business of Worldwide Vision Limited (the “Company”) and, as such, desires to encourage you to remain employed with the Company. Accordingly, in connection with the
acquisition of the Company by Parent (the “Transaction”), Parent is pleased to provide you with a retention bonus opportunity. This letter agreement (this “Agreement”) sets forth the terms and conditions of the
retention bonus as well as the terms and conditions of your employment following the closing of the Transaction. 
 1. Retention Bonus
Opportunity. 
 a. Retention Bonus. Subject to the other terms of this Agreement, you are eligible to receive a cash bonus equal
to £400,000 (the “Retention Bonus”) if you remain employed with Parent (or any affiliate or subsidiary) (your “Employer”) through the earlier of (i) the one-year
anniversary of the closing of the Transaction and (ii) the date that is three months following the Transition Date (as defined below) ((i) or (ii), as applicable, the “Retention Date”) and satisfy the other requirements listed
in this Agreement, including, but not limited to, the satisfactory transition of your duties as may be required pursuant to Section 2(a), as determined in the discretion of the Parent’s board of directors (“Board”). 

b. Payment; Rights on Termination of Employment. The Retention Bonus payment will be made as soon as practicable, but in any event no
later than 30 days, following the Retention Date (the “Payment Date”). Notwithstanding the foregoing, if your employment is terminated (i) by your Employer without “Cause” (as defined below) or (ii) you
terminate your employment for “Good Reason” (as defined below) ((i) or (ii), a “Qualifying Termination”), in either case, prior to the Payment Date, you will be paid the Retention Bonus within 30 days following the date of
termination of employment (or, if sooner, on the Payment Date). If your employment with your Employer is terminated for any other reason before the Payment Date, you will forfeit the right to receive the Retention Bonus. 

c. Definitions. For purposes of this Agreement: 

i. “Cause” means (i) you repeatedly fail to substantially perform your duties with reasonable diligence (for avoidance
of doubt, failure to achieve results shall not, by itself, constitute “Cause”)), other than by reason of incapacity, or you violate any material covenant contained in any agreement with the Company, including any covenants regarding non-competition, non-solicitation, no-hire, non-disparagement and confidentiality restrictions
agreed to between you and your Employer (or any affiliate thereof), (ii) you engage in an act of fraud, theft or embezzlement in connection with your employment, (iii) you engage in a material act or omission involving misconduct or gross
negligence in the performance of your duties, (iv) you engage in a material act of dishonesty, (v) you unreasonably refuse to carry out the lawful instruction of Employer commensurate with your duties or (vi) you are convicted of a
felony involving moral turpitude or plead guilty or nolo contendre (or make an equivalent plea) to any such crime. 

 ii. “Good Reason” means any of the following, without your
consent: (A) your Employer requires you to relocate from the greater London metropolitan area, (B) the Company or your Employer requires you to spend more than 40% of your business time and efforts outside of the United Kingdom,
(C) a reduction in your Base Salary or Target Bonus (as such terms are defined below), (D) any diminution in your role or title to one that does not constitute the role or title, as applicable, of a
C-level or other senior-level executive of the Company, (E) the Company or your Employer requires that you report to someone other than either the Chief Executive Officer of the Company or Group President
of the Company, or (E) a “Change of Control” (as will be defined in Parent’s governing documents) is consummated after the closing of the Transaction but prior to the Transition Date; provided, that any of (A), (B), (C),
(D) or (E) will constitute Good Reason only if the Employer fails to cure such event within 30 days after receipt from you of written notice of the event constituting Good Reason; provided, further, that Good Reason will cease to
exist for an event on the 60th day following the later of (x) its occurrence or (y) your knowledge thereof (unless you have given your Employer written notice prior to such date). For
the avoidance of doubt, the occurrence of the Transition Date shall not, by itself, constitute Good Reason unless one or more of the events listed in (A) through (E) of this Section 1(c)(ii) also occurs. 

iii. “Transition Date” means the earlier to occur of (A) the date, if any, a new Chief Financial Officer is hired by
your Employer and (B) the date, if any, on which you experience a material change in title, duties and responsibilities, measured in the aggregate. 

2. Post-Transaction Employment Terms. 

a. Roles and Responsibilities. Following the closing of the Transaction, you will (i) continue to carry out your job functions and
responsibilities as Chief Financial Officer of the Company, unless otherwise determined by the Board or the Transition Date occurs, and (ii) perform other responsibilities and have other duties, in each case, as reasonably required by Parent,
which may include, without limitation, duties as may be required for the orderly transition of the role of Chief Financial Officer on and following the Transition Date. For the avoidance of doubt, you acknowledge and agree that any change in your
title, reporting relationship, duties and responsibilities in connection with the Transaction or transition of your role will not constitute “good reason” or other similar concept under this Agreement or any other employment-related agreements between you and the Company or any affiliate, subject to Section 1(c)(ii). 

b. Base Salary and Bonus Opportunity. Your (i) annual base salary following the closing of the Transaction will be £300,000
per year (“Base Salary”), payable pursuant to your Employer’s regular payroll practice and (ii) annual target bonus opportunity will be 30% of your Base Salary, subject to the terms and conditions of the applicable bonus
plan or program, in each case, prorated for the period ending on the Retention Date. 
 3. General Provisions. 

a. Non-Solicitation. As you know, Andrey Ogandzhanyants and others have agreed to certain
restrictions on their ability to solicit or hire you and other employees of the Company. At such time as your employment with the Company ceases, Parent will consider in good faith any request you make to accept employment with
Mr. Ogandzhanyants (or to an entity affiliated with Mr. Ogandzhanyants) prior to the expiration of those restrictions. 
 b.
Confidentiality. You hereby agree that you will keep the terms of this Agreement confidential, and will not, except as required by law, disclose such terms to any person other than your immediate family or professional advisers (who also must
keep the terms of this Agreement confidential). 
 c. Withholding. Subject to applicable law, Parent, the Company or its applicable
subsidiary or affiliate may deduct and withhold from any amount payable under this Agreement such federal, state, local, foreign or other taxes as are required to be withheld pursuant to any applicable law or regulation. 

d. Entire Agreement. This Agreement is the complete agreement of the parties concerning the subject matter hereof and supersedes any
other agreements, representations or understandings between you and Parent relating to the subject matter hereof. For the avoidance of doubt, this Agreement does not 

  
 2 

 
replace any benefits or compensation you may be entitled to receive under any written agreement with the Company or your Employer or Company or Employer policy regarding benefits or compensation
that are unrelated to the Transaction, including the notice period applicable upon a termination of your employment by the Company following the Transaction, as set forth in your written employment agreement with the Company.1 You acknowledge and agree that, in signing this Agreement, you have not relied, are not relying and disavow reliance on any prior oral or written representations or promises by Parent or the Company,
other than those set forth herein, with regard to the subject matter, basis or effect of this Agreement. 
 e. Assignment; Amendment.
This Agreement is assignable by Parent and may not be altered or modified other than in a writing signed by you and an authorized representative of Parent. This Agreement does not alter or in any way modify your employment relationship with your
Employer or create any rights to continued employment. 
 f. Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of England and Wales. 
 g. Termination. In the event the Transaction is terminated without the closing of
the Transaction having occurred, this Agreement shall automatically terminate and be null and void ab initio. 
 h.
Counterparts. This Agreement may be executed in two or more counterparts (including by facsimile or PDF), each of which will be deemed an original but all of which together will constitute one and the same instrument. 

[Signature page follows] 

 

	1 	 Note: Written confirmation relating to the notice period provided. 

  
 3 

 Please contact me should you have any questions. 

Sincerely, 
 /s/ Sachin Bavishi________ 

Name: Sachin Bavishi 
 Title:   Authorized Person 

[Signature page to Idan Wallichman Letter Agreement] 

 ACKNOWLEDGED AND AGREED: 
  

							
	 /s/ Idan Wallichman
	 		 		 	December 11, 2019
	Idan Wallichman	 		 		 	Date

 [Signature page to Idan Wallichman Letter Agreement]

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