Document:

EXHIBIT 10.22

 

December 31, 2012

 

Mr. Thomas Etergino

Executive Vice President and Chief Financial Officer

TheStreet, Inc.

14 Wall Street, 15th Floor

New York, New York 10005

 

Dear Tom:

 

This letter reflects the understanding and
agreement between you (“Executive”) and TheStreet, Inc. (the “Company”) regarding certain
matters described herein. The parties hereby agree as follows:

 

1.           You shall resign from your employment
with the Company, and from any positions you hold with the Company, its subsidiaries and any benefits plans maintained by the Company
or its subsidiaries, upon the later of (a) the filing of the Company’s Annual Report on Form 10-K for the year ended December
31, 2012 (the “2012 Form 10-K”) or (b) February 28, 2013; provided however, that if the 2012 Form 10-K
filing occurs prior to February 28, 2013, then for purposes of this agreement, your last day as an employee for purposes of Sections
3 and 4 below shall be February 28, 2013 (the “Resignation Date”) although you will no longer be required to
perform any services for the Company after the 2012 Form 10-K is filed.

 

2.           Simultaneously with the execution of
this Agreement, the parties shall execute the release (the “Release”) attached hereto as Exhibit A, which
the parties agree shall satisfy the requirement contained in any written agreement between the parties (each an “Agreement”
and collectively, the “Agreements”) for the delivery of a release by a party and shall be effective as of the
date hereof.

 

3.           Your resignation pursuant to this letter
shall be deemed to constitute a termination of your employment by the Company without Cause (as such term is defined in any such
Agreement) effective as of the Resignation Date and such termination shall be deemed to be not “related to [a] Change of
Control” (within the meaning of any such Agreement). For avoidance of doubt, provided you have executed the Release simultaneously
with this Agreement, then you will be entitled to the following:

 

		(a)	pursuant to the Severance Agreement (as defined below), the Company shall pay you the lump sum of $243,750 (less applicable
withholdings) as soon as practicable, but in no event more than 30 days following the Resignation Date;

 

		(b)	to the extent not paid in ordinary course prior to the Resignation Date, on or before March 15, 2013 or such earlier date as
the fiscal year 2012 fourth quarter bonuses are paid to similarly situated active employees, the Company shall pay you the bonus
(less applicable withholdings) you would have been entitled to for the fourth quarter of fiscal year 2012 based on actual performance
as if you had remained employed through the date

    	 

    	

    

	 	 	of payment of such bonuses to similarly situated active
employees, including the amount of any holdback on bonuses paid during the first three quarters of fiscal year 2012;

 

		(c)	If you elect continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”)
for you and your eligible dependents, within the time period prescribed pursuant to COBRA, the Company will reimburse you for,
or pay directly your behalf, the COBRA premiums for such coverage (at the coverage levels in effect immediately prior to the Resignation
Date) until the earlier of (i) a period of nine (9) months from the Resignation Date, or (ii) the date upon which you and/or your
eligible dependents becomes covered under similar plans;

 

		(d)	pursuant to the September 2010 RSU Agreement (as defined below) and the Severance Agreement, on the Resignation Date vesting
shall accelerate with respect to an additional 160,000 restricted stock units (“RSUs”) subject to the September
2010 RSU Agreement that would otherwise be unvested as of the Resignation Date;

 

		(e)	pursuant to the March 2011 RSU Agreement (as defined below) and the Severance Agreement, on the Resignation Date vesting shall
accelerate with respect to an additional 6,252 RSUs subject to the March 2011 RSU Agreement that would otherwise be unvested as
of the Resignation Date; and

 

		(d)	pursuant to the Stock Option Agreement (as defined below) and Severance Agreement, on the Resignation Date vesting shall accelerate
with respect to an additional 18,756 shares subject to the option evidenced by the Stock Option Agreement that would otherwise
be unvested as of the Resignation Date and that you shall have 90 calendar days following the Resignation Date to exercise the
vested portion of such option (after taking into account the vesting acceleration set forth herein).

 

4.           Subject to the timely execution by
you (without revocation), on or after the Resignation Date and prior to the 60th day following the Resignation Date
(the end of such 60-day period, the “Release Deadline”), of the release in the form attached hereto as Exhibit
B (the “Second Release”), the Company shall pay you a pro rata bonus (less applicable withholdings) with
respect to the first quarter of fiscal year 2013, which bonus shall be the product of (x) $54,843.75 (your target bonus of 75%
of your current base salary for one quarter of the fiscal year), multiplied by (y) a fraction, the numerator of which is the number
of calendar days between January 1, 2013 and the Resignation Date, inclusive and the denominator of which is 90 (such amount, the
“Pro Rata Bonus”). The Pro Rata Bonus shall be paid within 10 days after the Release Deadline; provided that
the Second Release is effective and irrevocable on or before the Release Deadline.

 

5.           This letter does not amend the provisions
of any of the Agreements, which include without limitation: (i) the Agreement for Grant of Restricted Stock Units Under 2007 Performance
Incentive Plan dated as of September 7, 2010 (the “September 2010 RSU

    	 

    	

    

Agreement”); (ii) the Agreement for Grant of Restricted
Stock Units Under 2007 Performance Incentive Plan dated as of March 28, 2011 (the “March 2011 RSU Agreement”);
(iii) the Agreement for Grant of Stock Options Under 2007 Performance Incentive Plan dated as of March 28, 2011 (the “Stock
Option Agreement”); (vi) the Severance Agreement dated as of September 7, 2010, as amended by amendments dated as of
March 28, 2011 and December 21, 2011 (the “Severance Agreement”); and (vii) the Indemnification Agreement. Without
limiting the foregoing, the Company acknowledges it has certain obligations to you under Section 1(a)(i)(B) and Section 1(a)(ii)(Y)
of the Severance Agreement; and you acknowledge that you have certain obligations to the Company as set forth in restrictive covenants
in the certain of the Agreements. On the Resignation Date, you shall receive payment for any accrued and unused vacation. You shall
be entitled to receive reimbursement for any business expenses incurred by you prior to the Resignation Date, in accordance with
the Company’s policies; to the extent you receive an invoice for any such expenses after the Resignation Date, you shall
submit a claim for reimbursement related thereto to the Company promptly after receipt.

 

6.           Notwithstanding any provision of any
of the Agreements to the contrary, if you are a “specified employee” as determined by the Board or the Compensation
Committee in accordance with Section 409A of the Internal Revenue Code of 1986, as amended or any regulations or Treasury guidance
promulgated thereunder (“Section 409A”), you shall not be entitled to any payments of amounts which constitute
deferred compensation within the meaning of Section 409A upon a termination of your employment until the earlier of (a) the date
which is six (6) months after the termination of you employment for any reason other than death (except that during such six (6)
month period you may receive total payments from the Company that do not exceed the amount specified in Treas. Reg. Section 1.409A-1(b)(9)
or that constitute a short-term deferral within the meaning of Section 409A), or (b) the date of your death. If any provision of
any of the Agreements or of any award of compensation, including equity compensation or benefits, would cause you to incur any
additional tax or interest under Section 409A, the parties agree to negotiate in good faith to reform such provision in such manner
as to maintain, to the maximum extent practicable, the original intent and economic terms of the applicable provision without violating
the provisions of Section 409A. Notwithstanding any provision of any of the Agreements to the contrary, to the extent any compensation
or award which constitutes deferred compensation within the meaning of Section 409A shall vest upon the occurrence of a Change
of Control (as defined in the applicable Agreement) and such Change of Control does not constitute a “change in the ownership
or effective control” or a “change in the ownership of a substantial portion of the assets” of the Company within
the meaning of Section 409A, then notwithstanding such vesting, payment will be made to you on the earliest of (a) your “separation
from service” with the Company (determined in accordance with Section 409A) (or, if you are a specified employee within the
meaning of Section 409A, such later date as provided in the first sentence of this paragraph), (b) the date payment otherwise would
have been made, or (c) your death.

 

On behalf of the Company, I would like to
express our appreciation for the many contributions you have made during your tenure at the Company, and we wish you the best with
your future endeavors.

    	 

    	

    

	Sincerely,	 	 
	 	 	 
	 	 	THESTREET, INC.
	 	 	 
	 	By:	/s/ Elisabeth DeMarse
	 	 	Elisabeth DeMarse
	 	 	Chief Executive Officer

 

AGREED

 

	/s/ Thomas Etergino	 
	Thomas Etergino	 

    	 

    	

    

Exhibit A

 

Release

 

This Release (this “Release”) is entered into by
Thomas Etergino (“Etergino”) and TheStreet, Inc., a Delaware corporation (the “Company”) on December 31,
2012 and shall become effective on the date set forth herein.

 

In consideration of the promises set forth in (i) the Agreement
for Grant of Restricted Stock Units Under 2007 Performance Incentive Plan between the Company and Etergino dated as of September
7, 2010 (the “2010 RSU Agreement”); (ii) the Agreement for Grant of Restricted Stock Units Under 2007 Performance Incentive
Plan between the Company and Etergino dated as of March 28, 2011 (the “2011 RSU Agreement”); (iii) the Agreement for
Grant of Stock Options Under 2007 Performance Incentive Plan between the Company and Etergino dated as of March 28, 2011 (the “2011
Option Agreement”); (vi) the Severance Agreement between the Company and Etergino dated as of September 7, 2010, as amended
by amendments dated as of March 28, 2011 and December 21, 2011 (the “Severance Agreement”); (vii) any Indemnification
Agreement between the Company and Etergino (the “indemnification Agreement”) and (viii) the letter from the Company
to Etergino dated as of December 31, 2012 (the “Letter Agreement”) (collectively, the “Agreements”), Etergino
and the Company agree as follows:

 

1.            General
Releases and Waivers of Claims.

 

(a) Etergino’s Release of Company.
In consideration of the payments and benefits provided to Etergino under the Agreements and after consultation with counsel, Etergino
on behalf of himself and each of his respective heirs, executors, administrators, representatives, agents, successors and assigns
(collectively, the “Etergino Parties”) hereby irrevocably and unconditionally release and forever discharge the Company
and its subsidiaries and affiliates and each of their respective officers, employees, directors, shareholders and agents (“Company
Parties”) from any and all claims, actions, causes of action, rights, judgments, fees and costs (including attorneys’
fees), obligations, damages, demands, accountings or liabilities of whatever kind or character (collectively, “Claims”),
including, without limitation, any Claims based upon contract, tort, or under any federal, state, local or foreign law, that the
Etergino Parties may have, or in the future may possess, arising out of any aspect of Etergino’s employment relationship
with and service as an employee, officer, director or agent of the Company, or the termination of such relationship or service,
that occurred, existed or arose on or prior to the date hereof; provided, however, that Etergino does not release, discharge or
waive (i) any rights to payments and benefits provided under the Severance Agreement and Letter Agreement, (ii) any right Etergino
may have to enforce this Release or any of the Agreements, (iii) Etergino’s eligibility for indemnification in accordance
with the Company’s certificate of incorporation, bylaws or other corporate governance document, any applicable insurance
policy or any contract or provision to which Etergino is a party or as to which Etergino otherwise is entitled to indemnification
benefits, with respect to any liability he incurred or might incur as an employee, officer or director of the Company, or (iv)
any claims for accrued, vested benefits under any employee benefit or pension plan of the Company Parties subject to the terms
and conditions of such plan and applicable law including, without limitation, any such claims under COBRA or the Employee Retirement
Income Security Act of 1974.

    	 

    	

    

(b) Company’s Release of Executive.
The Company for itself and on behalf of the Company Parties hereby irrevocably and unconditionally release and forever discharge
the Etergino Parties from any and all Claims, including, without limitation, any Claims based upon contract, tort, or under any
federal, state, local or foreign law, that the Company Parties may have, or in the future may possess, arising out of any aspect
of Etergino’s employment relationship with and service as an employee, officer, director or agent of the Company, or the
termination of such relationship or service, that occurred, existed or arose on or prior to the date hereof, excepting any Claim
which would constitute or result from conduct by Etergino that constituted the basis for termination for Cause under the Agreements
or could be a crime of any kind. Anything to the contrary notwithstanding in this Release, nothing herein shall release Etergino
or any other Executive Party from any Claims based on any right the Company may have to enforce this Release or any of the Agreements.

 

(c) No Assignment. The parties represent
and warrant that they have not assigned any of the Claims being released under this Release.

 

2.            Proceedings.
Neither Etergino nor the Company have filed, any complaint, charge, claim or proceeding against the other party before any local,
state or federal agency, court or other body relating to Etergino’s employment or the termination thereof (each, individually,
a “Proceeding”).

 

3.            Remedies.

 

(a) In the event Etergino initiates or voluntarily
participates in any Proceeding involving any of the matters waived or released in this Release, or if he fails to abide by any
of the terms of this Release, the Company may, in addition to any other remedies it may have, reclaim any amounts paid to him,
and terminate any benefits or payments that are due, pursuant to the termination provisions of the Agreements, without waiving
the release granted herein. In addition, in the event that Etergino has failed to comply with Sections 6 and/or 7 of the 2010 RSU
Agreement, Sections 6 and/or 7 of the 2011 RSU Agreement or Sections 10 and/or 11 of the 2011 Option Agreement (other than as a
result of an unintentional and immaterial disclosure of confidential information), the Company may, in addition to any other remedies
it may have, to the extent permitted in the Agreements reclaim any amounts paid to him pursuant to the Agreements, without waiving
the release granted herein. Etergino acknowledges and agrees that the remedy at law available to the Company for breach of any
of his post-termination obligations under the Agreements or his obligations herein would be inadequate and that damages flowing
from such a breach may not readily be susceptible to being measured in monetary terms. Accordingly, Etergino acknowledges, consents
and agrees that, in addition to any other rights or remedies that the Company may have at law or in equity, the Company shall be
entitled to seek a temporary restraining order or a preliminary or permanent injunction, or both, without bond or other security,
restraining Etergino from breaching his post-termination obligations under the Agreements or his obligations hereunder. Such injunctive
relief in any court shall be available to the Company, in lieu of, or prior to or pending determination in, any arbitration proceeding.

 

(b) Etergino understands that by entering
into this Release he will be limiting the availability of certain remedies that he may have against the Company and limiting also
his ability to pursue certain claims against the Company.

    	 

    	

    

(c) The Company acknowledges and agrees that
the remedy at law available to Etergino for breach of any of its post-termination obligations under the Agreements or its obligations
hereunder would be inadequate and that damages flowing from such a breach may not readily be susceptible to being measured in monetary
terms. Accordingly, the Company acknowledges, consents and agrees that, in addition to any other rights or remedies that Etergino
may have at law or in equity, Etergino shall be entitled to seek a temporary restraining order or a preliminary or permanent injunction,
or both, without bond or other security, restraining the Company from breaching its post-termination obligations under the Agreements
or its obligations hereunder. Such injunctive relief in any court shall be available to Etergino, in lieu of, or prior to or pending
determination in, any arbitration proceeding.

 

(d) The Company understands that by entering
into this Release it will be limiting the availability of certain remedies that it may have against Etergino and limiting also
its ability to pursue certain claims against Etergino.

 

4.            Severability
Clause. In the event any provision or part of this Release is found to be invalid or unenforceable, only that particular provision
or part so found, and not the entire Release, will be inoperative.

 

5.            Nonadmission.
Nothing contained in this Release will be deemed or construed as an admission of wrongdoing or liability on the part of the Company
or Etergino.

 

6.            Governing
Law. All matters affecting this Release, including the validity thereof, are to be governed by, and interpreted and construed
in accordance with, the laws of the New York applicable to contracts executed in and to be performed in that State.

 

7.            Notices.
All notices or communications hereunder shall be made in accordance with Section 3 of the Severance Agreement.

 

ETERGINO ACKNOWLEDGES THAT HE HAS READ THIS
RELEASE AND THAT HE FULLY KNOWS, UNDERSTANDS AND APPRECIATES ITS CONTENTS, AND THAT HE HEREBY EXECUTES THE SAME AND MAKES THIS
RELEASE AND THE RELEASE AND AGREEMENTS PROVIDED FOR HEREIN VOLUNTARILY AND OF HIS OWN FREE WILL.

 

IN WITNESS WHEREOF, the parties have executed
this Release as of December 31, 2012.

 

	 	/s/ Thomas Etergino	 
	 	Thomas Etergino	 
	 	 	 	 
	 	THESTREET, INC.	 
	 	 	 	 
	 	By:	/s/ Elisabeth DeMarse	 
	 	Name:	Elisabeth DeMarse	 
	 	Title:	Chief Executive Officer	 

    	 

    	

    

Exhibit B

 

Second Release

 

This Second Release (this “Release”) is entered
into by Thomas Etergino (“Etergino”) and TheStreet, Inc., a Delaware corporation (the “Company”) on _____
__, 2013 and shall become effective on the date set forth herein. Defined terms utilized herein and not otherwise defined shall
have their respective meanings as forth in the Release entered into on December 31, 2012 by Etergino and the Company.

 

In consideration of the promises set forth in Paragraph 4 of
the Letter Agreement, Etergino and the Company agree as follows:

 

1.            General
Releases and Waivers of Claims.

 

(a) Etergino’s Release of Company.
In consideration of the payments and benefits provided to Etergino under Paragraph 4 of the Letter Agreement and after consultation
with counsel, Etergino on behalf of himself and each of his respective heirs, executors, administrators, representatives, agents,
successors and assigns (collectively, the “Etergino Parties”) hereby irrevocably and unconditionally release and forever
discharge the Company and its subsidiaries and affiliates and each of their respective officers, employees, directors, shareholders
and agents (“Company Parties”) from any and all claims, actions, causes of action, rights, judgments, fees and costs
(including attorneys’ fees), obligations, damages, demands, accountings or liabilities of whatever kind or character (collectively,
“Claims”), including, without limitation, any Claims based upon contract, tort, or under any federal, state, local
or foreign law, that the Etergino Parties may have, or in the future may possess, arising out of any aspect of Etergino’s
employment relationship with and service as an employee, officer, director or agent of the Company, or the termination of such
relationship or service, that occurred, existed or arose on or prior to the date hereof; provided, however, that Etergino does
not release, discharge or waive (i) any rights to payments and benefits provided under the Severance Agreement and Letter Agreement,
(ii) any right Etergino may have to enforce this Release or any of the Agreements, (iii) Etergino’s eligibility for indemnification
in accordance with the Company’s certificate of incorporation, bylaws or other corporate governance document, any applicable
insurance policy or any contract or provision to which Etergino is a party or as to which Etergino otherwise is entitled to indemnification
benefits, with respect to any liability he incurred or might incur as an employee, officer or director of the Company, or (iv)
any claims for accrued, vested benefits under any employee benefit or pension plan of the Company Parties subject to the terms
and conditions of such plan and applicable law including, without limitation, any such claims under COBRA or the Employee Retirement
Income Security Act of 1974.

 

(b) Executive’s Specific Release
of ADEA Claims. In further consideration of the payments and benefits provided to Etergino under Paragraph 4 of the Letter
Agreement, Etergino on behalf of himself and the other Etergino Parties hereby unconditionally release and forever discharge the
Company Parties from any and all Claims that the Etergino Parties may have as of the date Etergino signs this Release arising under
the Federal Age Discrimination in Employment Act of 1967, as amended, and the applicable rules and regulations promulgated thereunder
(“ADEA”). By signing this Release, Etergino hereby acknowledges and confirms the following: (i) Etergino was advised
by the Company in connection with his termination to

    	 

    	

    

consult with an attorney of his choice prior to signing this
Release and to have such attorney explain to him the terms of this Release, including, without limitation, the terms relating to
his release of claims arising under ADEA, and Etergino has in fact consulted with an attorney; (ii) Etergino was given a period
of not fewer than twenty-one (21) days to consider the terms of this Release and to consult with an attorney of his choosing with
respect thereto; and (iii) Etergino knowingly and voluntarily accepts the terms of this Release. Etergino also understands that
he has seven (7) days following the date on which he signs this Release within which to revoke the release contained in this paragraph,
by providing the Company a written notice of his revocation of the release and waiver contained in this paragraph. Should Etergino
not revoke this Release, it shall become effective on the eighth (8th) day following his execution of this Release.

 

(c) Company’s Release of Executive.
The Company for itself and on behalf of the Company Parties hereby irrevocably and unconditionally release and forever discharge
the Etergino Parties from any and all Claims, including, without limitation, any Claims based upon contract, tort, or under any
federal, state, local or foreign law, that the Company Parties may have, or in the future may possess, arising out of any aspect
of Etergino’s employment relationship with and service as an employee, officer, director or agent of the Company, or the
termination of such relationship or service, that occurred, existed or arose on or prior to the date hereof, excepting any Claim
which would constitute or result from conduct by Etergino that constituted the basis for termination for Cause under the Agreements
or could be a crime of any kind. Anything to the contrary notwithstanding in this Release, nothing herein shall release Etergino
or any other Executive Party from any Claims based on any right the Company may have to enforce this Release or any of the Agreements.

 

(d) No Assignment. The parties represent
and warrant that they have not assigned any of the Claims being released under this Release.

 

2.            Proceedings.
Neither Etergino nor the Company have filed, any complaint, charge, claim or proceeding against the other party before any local,
state or federal agency, court or other body relating to Etergino’s employment or the termination thereof (each, individually,
a “Proceeding”).

 

3.            Remedies.

 

(a) In the event Etergino initiates or voluntarily
participates in any Proceeding involving any of the matters waived or released in this Release, or if he fails to abide by any
of the terms of this Release, or if he revokes the ADEA release contained in Paragraph 1(b) of this Release within the seven-day
period provided under Paragraph 1(b), the Company may, in addition to any other remedies it may have, reclaim any amounts paid
to him, and terminate any benefits or payments that are due, pursuant to the termination provisions of the Agreements, without
waiving the release granted herein. In addition, in the event that Etergino has failed to comply with Sections 6 and/or 7 of the
2009 RSU Agreement, Sections 6 and/or 7 of the 2011 RSU Agreement or Sections 10 and/or 11 of the 2011 Option Agreement (other
than as a result of an unintentional and immaterial disclosure of confidential information), the Company may, in addition to any
other remedies it may have, to the extent permitted in the Agreements reclaim any amounts paid to him pursuant to the Agreements,
without waiving the release granted herein. Etergino acknowledges and agrees that the remedy at law available to the Company for
breach of

    	 

    	

    

any of his post-termination obligations under the Agreements
or his obligations herein would be inadequate and that damages flowing from such a breach may not readily be susceptible to being
measured in monetary terms. Accordingly, Etergino acknowledges, consents and agrees that, in addition to any other rights or remedies
that the Company may have at law or in equity, the Company shall be entitled to seek a temporary restraining order or a preliminary
or permanent injunction, or both, without bond or other security, restraining Etergino from breaching his post-termination obligations
under the Agreements or his obligations hereunder. Such injunctive relief in any court shall be available to the Company, in lieu
of, or prior to or pending determination in, any arbitration proceeding.

 

(b) Etergino understands that by entering
into this Release he will be limiting the availability of certain remedies that he may have against the Company and limiting also
his ability to pursue certain claims against the Company.

 

(c) The Company acknowledges and agrees that
the remedy at law available to Etergino for breach of any of its post-termination obligations under the Agreements or its obligations
hereunder would be inadequate and that damages flowing from such a breach may not readily be susceptible to being measured in monetary
terms. Accordingly, the Company acknowledges, consents and agrees that, in addition to any other rights or remedies that Etergino
may have at law or in equity, Etergino shall be entitled to seek a temporary restraining order or a preliminary or permanent injunction,
or both, without bond or other security, restraining the Company from breaching its post-termination obligations under the Agreements
or its obligations hereunder. Such injunctive relief in any court shall be available to Etergino, in lieu of, or prior to or pending
determination in, any arbitration proceeding.

 

(d) The Company understands that by entering
into this Release it will be limiting the availability of certain remedies that it may have against Etergino and limiting also
its ability to pursue certain claims against Etergino.

 

4.            Severability
Clause. In the event any provision or part of this Release is found to be invalid or unenforceable, only that particular provision
or part so found, and not the entire Release, will be inoperative.

 

5.            Nonadmission.
Nothing contained in this Release will be deemed or construed as an admission of wrongdoing or liability on the part of the Company
or Etergino.

 

6.            Governing
Law. All matters affecting this Release, including the validity thereof, are to be governed by, and interpreted and construed
in accordance with, the laws of the New York applicable to contracts executed in and to be performed in that State.

 

7.            Notices.
All notices or communications hereunder shall be made in accordance with Section 3 of the Severance Agreement.

 

ETERGINO ACKNOWLEDGES THAT HE HAS READ THIS
RELEASE AND THAT HE FULLY KNOWS, UNDERSTANDS AND APPRECIATES ITS CONTENTS, AND THAT HE HEREBY EXECUTES THE SAME AND MAKES THIS
RELEASE AND THE RELEASE AND AGREEMENTS PROVIDED FOR HEREIN VOLUNTARILY AND OF HIS OWN FREE WILL.

    	 

    	

    

IN WITNESS WHEREOF, the parties have executed
this Release as of _____ __, 2013.

 

	 	 	 
	 	Thomas Etergino	 
	 	 	 	 
	 	
        THESTREET, INC.
	 
	 	 	 	 
	 	By:	 	 
	 	Name: 	 	 
	 	Title:EXHIBIT 10.23

 

August 13, 2012

 

Erwin Eichmann

 

Dear Erwin,

 

We are pleased to extend
to you an offer of employment with TheStreet, Inc. (the “Company” or “TheStreet”) as described below:

 

		1.	POSITION: You will serve in a full-time capacity at TheStreet with
the title of Vice President Corporate and Business Development, General Counsel. You will perform such duties, functions and responsibilities
as are generally incident to such position, reporting to and subject to the direction of the Chief Executive Officer or his or
her designee. 

 

		2.	TERM: You will commence employment on a mutually agreed upon date
on or before September 4, 2012 and your employment shall continue until terminated by either you or the Company.

 

		3.	AT WILL STATUS: Your employment with TheStreet is “at will.”
This means that either you or TheStreet may terminate your employment at any time, with or without notice, and with or without
cause. Your status as an “at will” employee cannot be changed or retracted, either orally or in writing, by any policy
or conduct, unless you receive a document expressly stating that your employment is no longer at-will, which is signed both by
you and the Company’s Chief Executive Officer.

 

		4.	COMPENSATION: We will compensate you as an exempt employee at the
rate of $9,166.67 semi-monthly, which is $220,000 on an annualized basis. Payments are made on the 15th and last day
of each month (or the preceding business day if the regular payday falls on a weekend or holiday) and will be subject to applicable
withholding and taxes.

 

BONUS: You are
eligible to receive a bonus for 2012 of up to 30% of the base salary you receive during 2012, as determined by the Company in its
sole discretion, which determination may be based on both your individual performance and the performance of the Company. Bonuses
will be calculated quarterly. Target bonuses for each calendar quarter will be 22.5% of the annual target bonus, with the remaining
portion of the annual target bonus to be based upon the full year. Any bonus amount determined by the Company to be payable shall
be paid not later than 30 days following the end of the quarter, with respect to the third quarter bonus amounts and not later
than 60 days following the end of the year, with respect to the fourth quarter and full year bonus amounts, provided that you must
remain a full-time employee of the Company through the payment date in order to receive the payment (nothing in this notice is
deemed to modify the at-will nature of your employment, which may be terminated by you or the Company at any time with or without
cause and with or without prior notice).

 

14
Wall Street     15th Floor     NY, NY 10005     T 212
321 5000     www.thestreet.com

    	 

    	

    

		5.	BENEFITS: You will be eligible to participate in any employment benefits
plans provided by TheStreet, subject to the terms, conditions and eligibility requirements of any relevant benefits plan documents.
At present, these benefits include, but are not limited to, group medical, dental and vision plans, 100% company paid coverage
under the Company’s comprehensive Life Insurance, Short-Term and Long-Term Disability Plans subject to applicable waiting
periods and three weeks of paid vacation annually (prorated for any partial year). You will also have the opportunity to participate
in TheStreet’s 401(k) Savings Plan, Flexible Spending Account Plans and Transit Benefits, subject to the terms, conditions
and eligibility requirements of such plans. TheStreet reserves the right to amend or terminate any of its benefit programs at any
time with or without notice in its sole discretion.

 

		6.	EQUITY COMPENSATION: On your first day of employment you will be
granted 150,000 Incentive Stock Options, under the terms of the Company’s 2007 Performance Incentive Plan, as amended (the
“Plan”). These stock options will vest and become exercisable at the rate of twenty-five percent on the first anniversary
and 1/36 of the remaining seventy-five percent for the next 36 months thereafter and will be priced at “fair market value”,
which is defined in the Plan as the closing price of TheStreet common stock on the Nasdaq Stock Market on the grant date (which
is your first day of employment). Details regarding this grant, including any terms and conditions will be set forth in a separate
grant agreement. 

 

		7.	POLICIES: As an employee, you will be required to comply fully with
the provisions of the Company’s Investment policy, Code of Business Conduct and Ethics, Compliance Manual and other compliance
policies and procedures relevant to your position with the Company (the “Employment Materials”). Compliance is a condition
of employment at TheStreet and you will be required to sign forms confirming that you will abide by the requirements of these policies
and procedures. These materials, however, will not change your at-will employment status and are merely meant to provide additional
information relating to your job.

 

This letter and the
Employment Materials contain all of the terms of your employment with the TheStreet and supersede any prior understandings or agreements,
whether written or oral, between you and Company.  This letter agreement may not be amended or modified except by an express
written agreement signed by you and TheStreet’s Vice President of Human Resources (except that no amendment may change the
at will nature of the employment unless in accordance with Paragraph 3).  The terms of this letter and the resolution of any
disputes hereunder shall be governed by New York law, without reference to principles of choice of law.

 

14
Wall Street     15th Floor     NY, NY 10005     T 212
321 5000     www.thestreet.com

    	 

    	

    

We hope that you find
the foregoing terms acceptable. We are delighted to have you join TheStreet and look forward to a mutually beneficial working relationship.
If you have any questions, please do not hesitate to contact me at 212-321-5090.

 

	Sincerely,	 
	 	 
	/s/ Elisabeth DeMarse	 
	Elisabeth DeMarse	 
	Chair, President & CEO	 
	 	 
	ACCEPTED AND AGREED	 
	 	 
	/s/ Erwin Eichmann	 
	Erwin Eichmann	 

 

14
Wall Street     15th Floor     NY, NY 10005     T 212
321 5000     www.thestreet.com

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