Document:

Exhibit 10.21  

EMPLOYMENT AGREEMENT  

        This EMPLOYMENT AGREEMENT (the "Agreement") is made as of January 1, 2007 (the "Effective Date") by and between  TechTarget, Inc., a Delaware corporation with a principal place of business at 117 Kendrick Street, Needham, MA 02494 (the "Employer"),
and Rick Olin (the "Executive"). In consideration of the mutual covenants contained in this Agreement, the Employer and the Executive agree
as follows. 

        1.    Employment.    The Employer agrees to employ the Executive and the Executive agrees
to be employed by the Employer upon the terms and subject to the conditions set forth in this Agreement. 

        2.    Capacity.    The Executive shall initially serve the Employer as Vice President,
General Counsel. The Executive shall also serve the Employer in such other or additional offices as the Executive may be requested to serve by the Chief Executive Officer. In such capacity or
capacities, the Executive shall perform such services and duties in connection with the business, affairs and operations of the Employer as may be assigned or delegated to the Executive from time to
time, consistent with the Executive's education and experience, by or under the authority of the Chief Executive Officer. The Executive shall report directly to the Chief Executive Officer. 

        3.    Term.    Subject to the provisions of Section 6, the term of employment
pursuant to this Agreement (the "Term") shall be one (1) year from the Effective Date and shall be renewed automatically for periods of one (1) year commencing at the first
anniversary of the Effective Date and on each subsequent anniversary thereafter unless either the Executive or the Employer gives written notice to the other not less than sixty (60) days prior
to the date of any such anniversary of such party's election not to extend the Term. In the event that the Employer elects to not extend this Agreement on such an anniversary date, the Executive shall
be entitled to the benefits described in Section 7(b) below. 

        4.    Compensation and Benefits.    The regular compensation and benefits payable to the
Executive under this Agreement shall be as follows: 

        (a)    Salary.    For all services rendered by the Executive under this Agreement, the
Employer shall pay the Executive a salary (the "Salary") at the annual rate of Two Hundred Thousand Dollars ($200,000), subject to increase from time to time in the discretion of the Board of
Directors or the Compensation Committee of the Board of Directors (the "Compensation Committee"). The Salary shall be payable in periodic installments in accordance with the Employer's usual
practice for its senior executives. 

        (b)    Bonus.    Beginning with the fiscal year ending December 31, 2007, the
Executive shall be entitled to participate in an annual incentive program established by the Board of Directors or the Compensation Committee for the executive management team with such terms as may
be established in the sole discretion of the Board of Directors or Compensation Committee. For fiscal year 2007, the Executive's annual target bonus amount shall equal $$50,000. For all subsequent
years, the amount of the Executive's annual target bonus amount shall be established by the Board of Directors or the Compensation Committee. The specific terms of the bonus plan, including bonus
targets, methods of payment and performance goals will be documented by the Board of Directors or the Compensation Committee. 

        (c)    Regular Benefits.    The Executive shall also be entitled to participate in any
qualified retirement plans, deferred compensation plans, stock option and incentive plans, stock purchase plans, medical insurance plans, life insurance plans, disability income plans, retirement
plans, vacation plans, expense reimbursement plans and other benefit plans which the Employer may from time to time have in effect for its senior executives. Such participation shall be subject to the
terms of the applicable plan documents, generally applicable policies of the Employer, applicable law and the discretion of the Board of Directors, the Compensation Committee or any 

 

administrative
or other committee provided for in, or contemplated by, any such plan. Nothing contained in this Agreement shall be construed to create any obligation on the part of the Employer to
establish any such plan or to maintain the effectiveness of any such plan which may be in effect from time to time. 

        (d)    Equity Grants.    The Executive shall be provided equity awards as determined by
the Board of Directors or the Compensation Committee, with such terms as may be established in the sole discretion of the Board of Directors or Compensation Committee. In connection with any grants of
stock options to the Executive, including all grants the dates of which precede the Effective Date of this Agreement, the Employer and the Executive hereby acknowledge and agree that in the event of a
Change of Control (as defined in the Executive's Incentive Stock Option Grant Agreement under the Employer's 1999 Stock Option Plan; each an "Option Agreement"), all unvested shares shall
thereupon become fully-vested and all such stock options may thereafter be immediately exercised. 

        (e)    Reimbursement of Business Expenses.    The Employer shall reimburse the Executive
for all reasonable expenses incurred by him in performing services during the Term, in accordance with the Employer's policies and procedures for its senior executive officers, as in effect from time
to time. 

        (f)    Taxation of Payments and Benefits.    The Employer shall undertake to make
deductions, withholdings and tax reports with respect to payments and benefits under this Agreement to the extent that it reasonably and in good faith believes that it is required to make such
deductions, withholdings and tax reports. Payments under this Agreement shall be in amounts net of any such deductions or withholdings. Nothing in this Agreement shall be construed to require the
Employer to make any payments to compensate the Executive for any adverse tax effect associated with any payments or benefits or for any deduction or withholding from any payment or benefit. 

        (g)    Exclusivity of Salary and Benefits.    The Executive shall not be entitled to any
payments or benefits other than those provided under this Agreement. During the Term, the Employer is obligated to document any changes in compensation terms applicable to the Agreement. 

        5.    Extent of Service.    During the Executive's employment under this Agreement, the
Executive shall, devote the Executive's best efforts and business judgment, skill and knowledge to the advancement of the Employer's interests and to the discharge of the Executive's duties and
responsibilities under this Agreement. Notwithstanding anything contained herein to the contrary, this Agreement shall not be construed as preventing the Executive from: 

        (a)   investing
the Executive's assets in any company or other entity in a manner not prohibited by Section 8(d) and in such form or manner as shall not require
any material activities on the Executive's part in connection with the operations or affairs of the companies or other entities in which such investments are made; 

        (b)   serving
on the Board of another company; provided, that, such service does not impair or compromise the Executive's ability to fulfill the
Executive's duties and responsibilities under this Agreement; or 

        (c)   engaging
in religious, charitable or other community or non-profit activities that do not impair the Executive's ability to fulfill the Executive's duties
and responsibilities under this Agreement. 

        6.    Termination.    Notwithstanding the provisions of Section 3, the Executive's
employment under this Agreement shall terminate under the following circumstances set forth in this Section 6. 

        (a)    Termination by the Employer for Cause.    The Executive's employment under this
Agreement may be terminated for Cause (as defined below) on the part of the Employer effective 

2

 

upon
a vote of the Board of Directors, prior to which the Employer shall have given the Executive ten (10) days prior written notice and the opportunity to be heard on such matter at a meeting
of the Board. Only the following shall constitute "Cause" for such termination: 

          (i)  any
act, whether or not involving the Employer or any affiliate of the Employer, of fraud or gross misconduct; 

         (ii)  the
commission by the Executive of (A) a felony or (B) any misdemeanor involving moral turpitude, deceit, dishonesty or fraud; or 

        (iii)  gross
negligence or willful misconduct of the Executive with respect to the Employer or any affiliate of the Employer. 

        (b)    Termination by the Employer Without Cause.    Subject to the payment of
Termination Benefits pursuant to Section 7(b), the Executive's employment under this Agreement may be terminated by the Employer without Cause upon no less than sixty (60) days prior
written notice to the Executive. 

        (c)    Termination by the Executive for Good Reason.    Subject to the payment of
Termination Benefits pursuant to Section 7(b), the Executive's employment under this Agreement may be terminated by the Executive for Good Reason by written notice to the Board of Directors at
least sixty (60) days prior to such termination. Only the following shall constitute "Good Reason" for such termination: 

          (i)  a
material reduction of the Executive's annual base salary and/or annual target bonus other than a such reduction that is similar to a reduction made to such salary
and/or target bonus of all other senior executives of the Employer; 

         (ii)  a
change in the Executive's responsibilities and/or duties which constitutes a demotion or is inconsistent with the terms of Section 2 hereof; 

        (iii)  a
failure of the Company to pay any amounts due hereunder; 

        (iv)  the
failure of any successor in interest to the business of the Employer to assume the Employer's obligations under this Agreement; or 

         (v)  the
relocation of the offices at which the Executive is principally employed to a location more than 50 miles from such offices, which relocation is not approved
by the Executive. 

        (d)    Death.    The Executive's employment with the Employer shall terminate upon
his death. 

        (e)    Disability.    If the Executive shall be disabled so as to be unable to perform
the essential functions of the Executive's then-existing position or positions under this Agreement, with or without reasonable accommodation, the Chief Executive Officer may remove the
Executive from any responsibilities and/or reassign the Executive to another position with the Employer for the remainder of the Term or during the period of such disability. Notwithstanding any such
removal or reassignment, the Executive shall continue to receive the Executive's full Salary (less any disability pay or sick pay benefits to which the Executive may be entitled under the Employer's
policies) and benefits under Section 4 of this Agreement (except to the extent that the Executive may be ineligible for one or more such benefits under applicable plan terms) for a period of
time equal to the period set forth in Section 7(b)(i) below. If any question shall arise as to whether during any period the Executive is disabled so as to be unable to perform the essential
functions of the Executive's then existing position or positions with or without reasonable accommodation, the Executive may, and at the request of the Employer shall, submit to the Employer a
certification in reasonable detail by a physician selected by the Employer (to whom the Executive or the Executive's guardian has no reasonable objection) as to whether the Executive is so
disabled or 

3

 

how
long such disability is expected to continue, and such certification shall for the purposes of this Agreement be conclusive of the issue. The Executive shall cooperate with any reasonable request
of the physician in connection with such certification. If such question shall arise and the Executive shall fail to submit such certification, the Employer's determination of such issue shall be
binding on the Executive. Nothing in this Section 6(e) shall be construed to waive the Executive's rights, if any, under existing law including, without limitation, the Family and Medical Leave
Act of 1993, 29 U.S.C. §2601 et seq. and the Americans with Disabilities Act, 42 U.S.C. §12101  et seq.

        (f)    Termination by the Executive without Good Reason.    The Executive may terminate
this Agreement at any time on no less than sixty (60) days prior written notice. If the Executive terminates this Agreement without Good Reason, the Executive is not entitled to any additional
compensation or benefits other than his Accrued Benefit (as defined in Section 7(a) below). 

        7.    Compensation Upon Termination.    

        (a)    Termination Generally.    If the Executive's employment with the Employer is
terminated for any reason during the Term, the Employer shall pay or provide to the Executive (or to his authorized representative or estate) any earned but unpaid base salary, incentive
compensation earned but not yet paid, unpaid expense reimbursements, accrued but unused vacation and any vested benefits the Executive may have under any employee benefit plan of the Employer
(the "Accrued Benefit"). 

        (b)    Termination by the Employer Without Cause or upon Executive Disability or Death, or by the Executive for
Good Reason.    In the event of termination of the Executive's employment with the Employer pursuant to Section 6(b), (c), (d) or (e) above, or the
failure of the Company to extend this Agreement following the expiration of the then-current Term, the Employer shall provide to the Executive the following termination benefits
("Termination Benefits"): 

          (i)  payments
that provide for the continuation of the Executive's Salary at the rate then in effect pursuant to Section 4(a) for a period of 6 months; 

         (ii)  continuation
of group health plan benefits to the extent authorized by and consistent with 29 U.S.C. § 1161 et seq. (commonly known as
"COBRA"), payment of premiums of which shall continue to be made by the Employer at the active employee's rate for the period set forth in clause 7(b)(i) above; 

        (iii)  payments
(pro rated over the period described in Section 7(b)(i) above) equal in the aggregate to the greater of (x) fifty percent (50%) of the
targeted bonus amount that was established by the Board of Directors or Compensation Committee for the Executive for the then-current fiscal year (the "Target Bonus Amount") or
(y) the product of (I) the Target Bonus Amount multiplied by (II) a fraction, the numerator for which equals the number of months in the then-current fiscal year that
have elapsed, and the denominator of which equals 12; and 

        (iv)  for
each year that the Executive has been employed by the Employer in any capacity, an additional ten percent (10%) all then unvested options to purchase shares of the
Employer's stock that have been granted to the Executive shall become immediately, and without further action, exercisable by the Executive; provided,
that, in the event that the foregoing calculation results in the acceleration of less than 50% of Executive's then unvested such options, the number of shares subject to
such acceleration, shall be deemed to be increased to equal fifty percent (50%). 

        (c)    Termination by the Employer with Cause or the Executive without Good Reason.    If
the Executive's employment is terminated by the Employer with Cause under Section 6(a) or by the 

4

 

Executive
without Good Reason under Section 6(f), the Employer shall have no further obligation to the Executive other than payment of his Accrued Benefit. 

        (d)    Certain Tax Matters.    

          (i)  The
Company and the Executive agree to cooperate and negotiate with each other in good faith to minimize the impact of Sections 280G and 4999 of the Code
on the Company and the Executive, respectively. 

         (ii)  Anything
in this Agreement to the contrary notwithstanding, if at the time of the Executive's termination of employment, the Executive is considered a "specified
employee" within the meaning of Section 409A(a)(2)(B)(i) of the Internal Revenue Code of 1986, as amended (the "Code"), and if any payment that the Executive becomes entitled to under
this Agreement is considered deferred compensation subject to interest and additional tax imposed pursuant to Section 409A(a) of the Code as a result of the application of
Section 409A(a)(2)(B)(i) of the Code, then no such payment shall be payable prior to the date that is the earliest of (i) six months after the Executive's Date of Termination,
(ii) the Executive's death, or (iii) such other date as will cause such payment not to be subject to such interest and additional tax, and the initial payment shall include a
catch-up amount covering amounts that would otherwise have been paid during the first six-month period but for the application of this Section 7(d). 

        8.    Confidential Information, Noncompetition and Cooperation.    

        (a)    Confidential Information.    As used in this Agreement, "Confidential Information"
means information belonging to the Employer which is of value to the Employer in the course of conducting its business and the disclosure of which could result in a competitive or other disadvantage
to the Employer. Confidential Information includes, without limitation, financial information, reports, and forecasts; inventions, improvements and other intellectual property; trade secrets;
know-how; designs, processes or formulae; software; market or sales information or plans; customer lists; and business plans, prospects and opportunities (such as possible acquisitions or
dispositions of businesses or facilities) which have been discussed or considered by the management of the Employer. Confidential Information includes information developed by the Executive in the
course of the Executive's employment by the Employer, as well as other information to which the Executive may have access in connection with the Executive's employment. Confidential Information also
includes the confidential information of others with which the Employer has a business relationship. Notwithstanding the foregoing, Confidential Information does not include information in the public
domain, unless due to breach of the Executive's duties under Section 8(b). 

        (b)    Confidentiality.    The Executive understands and agrees that the Executive's
employment creates a relationship of confidence and trust between the Executive and the Employer with respect to all Confidential Information. At all times, both during the Executive's employment with
the Employer and after its termination, the Executive will keep in confidence and trust all such Confidential Information, and will not use or disclose any such Confidential Information without the
written consent of the Employer, except as may be necessary in the ordinary course of performing the Executive's duties to the Employer. 

        (c)    Documents, Records, etc.    All documents, records, data, apparatus, equipment and
other physical property, whether or not pertaining to Confidential Information, which are furnished to the Executive by the Employer or are produced by the Executive in connection with the Executive's
employment will be and remain the sole property of the Employer. The Executive will return to the Employer all such materials and property as and when requested by the Employer. In any event, the
Executive will return all such materials and property immediately upon termination 

5

 

of
the Executive's employment for any reason. The Executive will not retain with the Executive any such material or property or any copies thereof after such termination. 

        (d)    Noncompetition and Nonsolicitation.    During the Term and for a period of
6 months thereafter, the Executive (i) will not, directly or indirectly, whether as owner, partner, shareholder, consultant, agent, employee, co-venturer or otherwise,
engage, participate, assist or invest in any Competing Business (as hereinafter defined); (ii) will refrain from directly or indirectly employing, attempting to employ, recruiting or
otherwise soliciting, inducing or influencing any person to leave employment with the Employer (other than terminations of employment of subordinate employees undertaken in the course of the
Executive's employment with the Employer); and (iii) will refrain from soliciting or encouraging any customer or supplier to terminate or otherwise modify adversely its business relationship
with the Employer. The Executive understands that the restrictions set forth in this Section 8(d) are intended to protect the Employer's interest in its Confidential Information and established
employee, customer and supplier relationships and goodwill, and agrees that such restrictions are reasonable and appropriate for this purpose. For purposes of this Agreement, the term "Competing
Business" shall mean any of the following: a media company that publishes technology-related content or operates technology-related events and, in any case, derives its revenue from selling products
and services similar to products and services offered by the Employer to customers and prospects similar to Employer's own customers and prospects. The Executive acknowledges that the following
specific companies are considered competitors of Employer; CNET, IDG, Accela Communications, CMP, Ziff Davis, PennWell, JupiterMedia, 101 Communications, Penton Media, IT Toolbox. CRMGuru,
NewsFactor, Sys-Con, Fawcete, Digital Consulting, Byte & Switch, Haymarket Media/West Coast Publishing, SANS Institute, Computer Security Institute, Reed Expo and MIS Training
Institute. The Executive further acknowledges that the specific companies mentioned as competitors create only a limited list of potential competitors and that other companies or entities maybe deemed
to be competitors based on the nature of their products and services and how they compete in the marketplace against Employer's customers and prospects. At the Executive's request, Employer will
update the listing of specific companies mentioned above. Notwithstanding the foregoing,
the Executive may own up to one percent (1%) of the outstanding stock of a publicly held corporation which constitutes or is affiliated with a Competing Business. 

        (e)    Third-Party Agreements and Rights.    The Executive hereby confirms that the
Executive is not bound by the terms of any agreement with any previous employer or other party which restricts in any way the Executive's use or disclosure of information or the Executive's engagement
in any business. The Executive represents to the Employer that the Executive's execution of this Agreement, the Executive's employment with the Employer and the performance of the Executive's proposed
duties for the Employer will not violate any obligations the Executive may have to any such previous employer or other party. In the Executive's work for the Employer, the Executive will not disclose
or make use of any information in violation of any agreements with or rights of any such previous employer or other party, and the Executive will not bring to the premises of the Employer any copies
or other tangible embodiments of non-public information belonging to or obtained from any such previous employment or other party. 

        (f)    Litigation and Regulatory Cooperation.    During and after the Executive's
employment, the Executive shall cooperate fully with the Employer in the defense or prosecution of any claims or actions now in existence or which may be brought in the future against or on behalf of
the Employer which relate to events or occurrences that transpired while the Executive was employed by the Employer. The Executive's full cooperation in connection with such claims or actions shall
include, but not be limited to, being available to meet with counsel to prepare for discovery or trial and to act as a witness on behalf of the Employer at mutually convenient times. During and after
the Executive's employment, the Executive also shall cooperate fully with the Employer in 

6

 

connection
with any investigation or review of any federal, state or local regulatory authority as any such investigation or review relates to events or occurrences that transpired while the Executive
was employed by the Employer. The Employer shall reimburse the Executive for any reasonable out-of-pocket expenses incurred in connection with the Executive's performance of
obligations pursuant to this Section 8(f). 

        (g)    Injunction.    The Executive agrees that it would be difficult to measure any
damages caused to the Employer which might result from any breach by the Executive of the promises set forth in this Section 8, and that in any event money damages would be an inadequate remedy
for any such breach. Accordingly, subject to Section 9 of this Agreement, the Executive agrees that if the Executive breaches, or proposes to breach, any portion of this Agreement, the Employer
shall be entitled, in addition to all other remedies that it may have, to an injunction or other appropriate equitable relief to restrain any such breach without showing or proving any actual damage
to the Employer. 

        9.    Arbitration of Disputes.    Any controversy or claim arising out of or relating to
this Agreement or the breach thereof or otherwise arising out of the Executive's employment or the termination of that employment (including, without limitation, any claims of unlawful employment
discrimination whether based on age or otherwise) shall, to the fullest extent permitted by law, be settled by arbitration in any
forum and form agreed upon by the parties or, in the absence of such an agreement, under the auspices of the American Arbitration Association ("AAA") in Boston, Massachusetts in accordance with the
Employment Dispute Resolution Rules of the AAA, including, but not limited to, the rules and procedures applicable to the selection of arbitrators. In the event that any person or entity other than
the Executive or the Employer may be a party with regard to any such controversy or claim, such controversy or claim shall be submitted to arbitration subject to such other person or entity's
agreement. Judgment upon the award rendered by the arbitrator may be entered in any court having jurisdiction thereof. This Section 9 shall be specifically enforceable. Notwithstanding the
foregoing, this Section 9 shall not preclude either party from pursuing a court action for the sole purpose of obtaining a temporary restraining order or a preliminary injunction in
circumstances in which such relief is appropriate; provided that any other relief shall be pursued through an arbitration proceeding pursuant to this Section 9. 

        10.    Consent to Jurisdiction.    To the extent that any court action is permitted
consistent with or to enforce Section 9 of this Agreement, the parties hereby consent to the jurisdiction of the Superior Court of the Commonwealth of Massachusetts and the United States
District Court for the District of Massachusetts. Accordingly, with respect to any such court action, the Executive (a) submits to the personal jurisdiction of such courts; (b) consents
to service of process; and (c) waives any other requirement (whether imposed by statute, rule of court, or otherwise) with respect to personal jurisdiction or service of process. 

        11.    Integration.    This Agreement constitutes the entire agreement between the
parties with respect to the subject matter hereof and supersedes all prior agreements between the parties with respect to any related subject matter; provided,
however, that the parties acknowledge and agree that: 

          (i)  the
terms of Section 2 of that certain Relationship Agreement by and between the Executive and Employer (the "Relationship Agreement") shall survive the
execution of this Agreement, and shall govern the terms of any and all Inventions, Works and Work Product (as defined therein) conceived, made, authored or developed by Executive during the
term of his employment, both prior to and following the execution of this Agreement; provided, that, in the event of any inconsistency or
conflict between the terms of the Relationship Agreement and the terms of this Agreement, the terms of this Agreement shall take precedence and govern with respect to the applicable subject
matter; and 

7

 

         (ii)  the
terms of each Option Agreement shall survive the execution of this Agreement and shall remain in full force and effect in accordance with its terms. 

        12.    Assignment; Successors and Assigns, etc.    Neither the Employer nor the Executive
may make any assignment of this Agreement or any interest herein, by operation of law or otherwise, without the prior written consent of the other party; provided that the Employer may assign its
rights under this
Agreement without the consent of the Executive in the event that the Employer shall effect a reorganization, consolidate with, or merge into, any other corporation, partnership, organization or other
entity, or transfer all or substantially all of its properties or assets to any other corporation, partnership, organization or other entity. This Agreement shall inure to the benefit of and be
binding upon the Employer and the Executive, their respective successors, executors, administrators, heirs and permitted assigns. 

        13.    Enforceability.    If any portion or provision of this Agreement (including,
without limitation, any portion or provision of any section of this Agreement) shall to any extent be declared illegal or unenforceable by a court of competent jurisdiction, then the remainder of this
Agreement, or the application of such portion or provision in circumstances other than those as to which it is so declared illegal or unenforceable, shall not be affected thereby, and each portion and
provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law. 

        14.    Waiver.    No waiver of any provision hereof shall be effective unless made in
writing and signed by the waiving party. The failure of any party to require the performance of any term or obligation of this Agreement, or the waiver by any party of any breach of this Agreement,
shall not prevent any subsequent enforcement of such term or obligation or be deemed a waiver of any subsequent breach. 

        15.    Notices.    Any notices, requests, demands and other communications provided for
by this Agreement shall be sufficient if in writing and delivered in person or sent by a nationally recognized overnight courier service or by registered or certified mail, postage prepaid, return
receipt requested, to the Executive at the last address the Executive has filed in writing with the Employer or, in the case of the Employer, at its main offices, attention of the Chief Executive
Officer, and shall be effective on the date of delivery in person or by courier or three (3) days after the date mailed. 

        16.    Amendment.    This Agreement may be amended or modified only by a written
instrument signed by the Executive and by a duly authorized representative of the Employer. 

        17.    Governing Law.    This is a Massachusetts contract and shall be construed under
and be governed in all respects by the law of the Commonwealth of Massachusetts, without giving effect to the conflict of laws principles of such Commonwealth. With respect to any disputes concerning
federal law, such disputes shall be determined in accordance with the law as it would be interpreted and applied by the United States Court of Appeals for the First Circuit. 

        18.    Counterparts.    This Agreement may be executed in any number of counterparts,
each of which when so executed and delivered shall be taken to be an original; but such counterparts shall together constitute one and the same document. 

8

 

        IN
WITNESS WHEREOF, this Agreement has been executed as a sealed instrument by the Employer, by its duly authorized officer, and by the Executive, as of the Effective Date. 

	 	 	TECHTARGET, INC.
	

 	
 	

By	
 	

/s/  GREG STRAKOSCH      

	 	 	Name: Greg Strakosch
	 	 	Title: CEO
	

 	
 	

/s/  RICK OLIN      

	 	 	Executive: Rick Olin

9COFFEE PACIFICA INC

COFFEE PACIFICA INC.

Suite 527, Building 5, 2920 Green Valley Parkway, Henderson,
Nevada, 89014

PRIVATE & CONFIDENTIAL 

April 16, 2007 

Mr. Terry Klassen 

3221 56th
St SW 

Everett, Washington,
98203. 

Dear Mr. Terry Klassen:

RE: MANAGEMENT AGREEMENT 

This letter agreement (the "Agreement") sets forth the
services to be provided by Terry Klassen ("Klassen") to Coffee Pacifica, Inc.
(the "Company") and the terms and conditions under which such services shall be
performed (the "Engagement"). 

1. Engagement. Subject to the terms set forth herein,
the Company hereby engages Klassen and retains Klassen to serve as the Chief
Executive Officer of the Company and Klassen hereby accepts the position of
Chief Executive Officer effective as of April 16, 2007 (the "Effective Date").

2. Duties. Klassen will perform such duties
customarily performed by the Chief Executive Officer and such other duties as
reasonably requested by the Chairman or the Board of Directors of the Company
(the "Board"). These duties will include, but not be limited to, signing SEC
filings and certifications required by the Sarbanes-Oxley Act. It is understood
that Klassen has other business interests and responsibilities but that he does
not anticipate any significant time conflicts. Klassen will not accept any
significant new engagements and will devote the time and attention necessary to
fulfill these duties to the Company. 

3. Term. The term of Klassen's Engagement hereunder is
for thirty six (36) months unless terminated sooner in accordance with the
provisions of Section 4 below. The term of Klassen's Engagement hereunder shall
commence on the Effective Date and shall continue on for thirty six months and
expire on April 1, 2010. 

4. Termination The Company shall have the right to
terminate Klassen's Engagement with the Company at any time with or without
cause and with or without notice. In the event of termination prior to the end
of a calendar month, the Company shall pay Klassen fees for the full month for
the portion of the month that the Engagement was effective. 

5. Compensation. The Company shall make monthly
management fee payment of ten thousand dollars ($10,000) to Klassen or his
private company Vogue International Coffee Products Brokers Inc., in arrears, on
the 25th day of each month. 

6. Bonus and Stock Options 

(a) In further consideration of services to be rendered under
this Agreement, Klassen shall be paid a contract execution bonus of one hundred
thousand dollars ($100,000) upon execution of this Agreement. 

(b) In further consideration of the services to be rendered
under this Agreement, Company hereby grants Klassen a Stock Option. Klassen
shall have an option to purchase up to three hundred thousand (300,000) shares
of Company's Common Stock, prior to January 1, 2010, at an exercise price per
share to be established by the Board (the " Stock Option"). The first one-third
(1/3) of the Stock Option (100,000 shares) shall fully vest on the Effective
Date and the remaining two-thirds (2/3) of the Stock Option (200,000 shares)
shall fully vest on April 2, 2008. The said Stock Option shall be formalized in
two separate Option Agreements between the Company and Klassen in accordance
with the above-noted vesting dates. 

7. Expense Reimbursement. Klassen will be entitled to
reimbursement for reasonable out-of-pocket expenses incurred by Company or paid
by Klassen on behalf of the Company including, but not limited to, use of office
space, reproduction, typing, computer usage, employees, legal counsel (including
legal counsel retained to negotiate and draft this Agreement) and other similar
direct expenses and any and all taxes (other than state, local and federal
income taxes) on any of the foregoing, provided, however, that such
out-of-pocket expenses shall not exceed $1,000 per month without Board approval.
Expenses for ordinary course travel on Company business will not be subject to
the $1,000 monthly limitation. Klassen will be reimbursed within 30 days of
submission of reasonable documentation for such expenses. In no event, will
Klassen be reimbursed later than 30 days following the close of the calendar
year in which such expenses were incurred. 

8. Severance Payment. 

(a) If the Company at its sole discretion terminates the
Engagement anytime without cause, after the Effective Date, Klassen will receive
a severance payment equal to $100,000. Klassen will not receive any severance
payment if terminated by the Company anytime after the Effective Date with
cause. "Cause" shall be defined as any act or series of acts which are illegal,
negligent, constitute willful misconduct, immoral, or otherwise have impact on
the Company and/or its business activities. 

(b) If the Engagement is terminated by Klassen during the
term of this Engagement, Klassen will be required to reimburse the Company
pro-rata the contract execution bonus of one hundred thousand dollars ($100,000)
for the portion of the remaining months of the Engagement. If the Engagement is
terminated by Company during the term of this Engagement anytime without cause
Klassen will not be required to reimburse the Company pro-rata the contract
execution bonus of one hundred thousand dollars ($100,000) for the portion of
the remaining months of the Engagement.

9. Deferred Compensation. Any nonqualified deferred
compensation (within the meaning of Section 409A of the Internal Revenue Code)
payable under this Agreement on account of the completion or termination of the
Engagement shall be delayed to the minimum extent and in the minimum amount
necessary so as to comply with Section 409A and the regulations thereunder;
provided, however, that the bonus set forth in Section 5 shall be paid
immediately if there is a change of control within the meaning of Section 409A
of the Internal Revenue Code regardless of whether there is a termination. 

10. Benefits and Taxes. Klassen shall be entitled to
any benefits paid by the Company to its employees. Klassen shall be solely
responsible for any tax consequences applicable to Klassen by reason of this
Agreement and the services performed hereunder. The Company shall not be
responsible for the payment of any federal, state or local taxes or
contributions imposed under any employment insurance, social security, income
tax or other tax law or regulation with respect to Klassen's performance of
management services hereunder. Klassen agrees to indemnify and hold the Company
harmless for any taxes, interest or penalties imposed upon the Company arising
from or in connection with the Engagement. 

11. Confidential Information, Rights and Duties. 

(a) Klassen specifically agrees that he shall not at any
time, either during or subsequent to the term of the Engagement, in any fashion,
form or manner, either directly or indirectly, unless expressly consented to in
writing by the Company, use, divulge, disclose or communicate to any person or
entity any confidential information of any kind, nature or description
concerning any matters affecting or relating to the business of the Company,
including, but not limited to: the Company's sales and marketing methods,
programs and related data, or other written records used in the Company's
business; the Company's computer processes, programs and codes; the names,
addresses, buying habits or practices of any of its clients or customers;
compensation paid to other employees and independent contractors and other terms
of any employment or contractual relationships; or any other confidential
information of, about or concerning the business of the Company, its manner of
operations, or other data of any kind, nature or description. The parties to
this Agreement hereby stipulate that, as between them, the above information and
items are important, material and confidential trade secrets that affect the
successful conduct of the Company's business and its good will, and that any
breach of any term of this section is a material breach of this Agreement. All
equipment, notebooks, documents, memoranda, reports, files, samples, books,
correspondence, lists or other written and graphic records, and the like,
including tangible or intangible computer programs, records and data, affecting
or relating to the business of the Company, which Klassen might prepare, use,
construct, observe, posses or control, shall be and shall remain the Company's
sole property. 

(b) For purposes of this Agreement, the term "confidential
information" shall not include any information that: (i) has been made public by
the Company (other than by acts of Klassen in violation of this Agreement or
other obligation of confidentiality); (ii) Klassen is legally compelled to
disclose; provided that Klassen notifies the Company of such proposed disclosure
in as far in advance of its disclosure as is practicable and uses his best
efforts to obtain assurances that confidential treatment will be accorded to
such information; or (iii) is otherwise publicly available other than through
disclosure by a party in breach of a confidentiality obligation with respect
thereto. 

(c) Any wrongful interference with the Company's business,
property, confidential information, trade secrets, clients, customers, employees
or independent contractors by Klassen or any of their agents after the term of
the Engagement shall be treated and acknowledged by the parties as a material
breach of this Agreement. 

(d) Klassen's duties under this Section 11 shall survive
termination of the Engagement. Klassen acknowledges that a remedy at law for any
breach or threatened breach by Klassen of the provisions of this Section 11
would be inadequate, and Klassen agrees that the Company shall be entitled to
injunctive relief in case of any such breach or threatened breach. 

12. Indemnification and D&O Insurance. The Company
shall indemnify, forever defend, and hold Klassen free and harmless from any and
all liabilities, assessments, obligations, debts, damages, fees, fines,
penalties, interest, judgments, liens or other claims that may ever be claimed
to exist against Klassen as a result of Klassen's work on behalf of Company
and/or as a result of Klassen executing this Agreement, except to the extent
resulting from Klassen's gross negligence or willful misconduct.

The Company shall enter into an indemnification agreement
with Klassen in the form entered into with each of the Company's officers and
directors. Such indemnification Agreement shall be effective upon the Effective
Date. The Company will furnish Klassen with a copy of its current D&O liability
policy and will agree to consult with Klassen if the Company intends to decrease
the coverage currently provided. 

13. Dispute Resolution In the instance of a dispute between the
Company and Klassen that is incapable of being resolved by them to their mutual
satisfaction, after good faith resolution negotiations, and within thirty (30)
days of the formal notification from Klassen or Company of such dispute, the
complaining Klassen shall have the right to seek such remedies as are available
at law and in equity, as shall the Company. In the event of any breach of this
Agreement, the provisions of this Agreement may be enforceable in a court of
equity by a decree of specific performance. Any equitable remedy shall not be
exclusive and shall be in addition to any other remedy available.

14. General Provisions. 

(a) Notices. Any notices provided hereunder must be in
writing and shall be deemed effective upon the earlier of personal delivery or
duly sent by certified mail, postage prepaid; by an overnight delivery service,
charges prepaid; or by confirmed telecopy, to the Company at its primary office
location and to Klassen at the following address: 3221 56th St SW
Everett Washington, 98203. 

(b) Severability. Whenever possible, each provision of
this Agreement will be interpreted in such manner as to be effective and valid
under applicable law, but if any provision of this Agreement is held to be
invalid, illegal or unenforceable in any respect under any applicable law or
rule in any jurisdiction, such invalidity, illegality or unenforceability will
not affect any other provision or any other jurisdiction, but this Agreement
will be reformed, construed and enforced in such jurisdiction as if such
invalid, illegal or unenforceable provisions had never been contained herein or
therein 

(c) Waiver. If either party should waive any breach of
any provision of this Agreement, he or it shall not thereby be deemed to have
waived any preceding or succeeding breach of the same or any other provision of
this Agreement. 

(d) Complete Agreement. This Agreement, the stock
option agreement and the indemnification agreement to be effective upon the
Effective Date constitute the entire agreement between Klassen and the Company
and it is the complete, final, and exclusive embodiment of their agreement and
supersedes any prior agreement written or otherwise between Klassen and the
Company with regard to this subject matter. It is entered into without reliance
on any promise or representation other than those expressly contained herein or
therein, and it cannot be modified or amended except in a writing signed by
Klassen and the Chairman of the Board. This Agreement supersedes the agreement
dated July 1 2006 between Company and Klassen. Upon execution this Agreement the
July 1, 2006 agreement is terminated. 

(e) Headings. The headings of the sections hereof are
inserted for convenience only and shall not be deemed to constitute a part
hereof or thereof nor to affect the meaning thereof. 

(f) Successors and Assigns. This Agreement is intended
to bind and inure to the benefit of and be enforceable by Klassen and the
Company and their respective successors, assigns, heirs, executors and
administrators, except that Klassen may not assign any of their duties hereunder
and may not assign any of their rights hereunder without the written consent of
the Company. 

(g) Attorney Fees. If either party hereto brings any
action to enforce his or its rights hereunder, the prevailing party in any such
action shall be entitled to recover his or its reasonable attorneys' fees and
costs incurred in connection with such action. In no event, will a party
entitled to reimbursement be reimbursed later than thirty days following the
close of the calendar year in which in such action is finally resolved. 

(h) Arbitration. To provide a mechanism for rapid and
economical dispute resolution, Klassen and the Company agree that any and all
disputes, claims, or causes of action, in law or equity, arising from or
relating to this Agreement or its respective enforcement, performance, breach,
or interpretation, will be resolved, to the fullest extent permitted by law, by
final, binding, and confidential arbitration before a single arbitrator held in
Las Vegas, Nevada and conducted by Judicial Arbitration & Mediation Services/Endispute
("JAMS"), under its then-existing Rules and Procedures. The parties shall be
entitled to conduct adequate discovery, and they may obtain all remedies
available to the parties as if the matter had been tried in court. The
arbitrator shall issue a written decision which specifies the findings of fact
and conclusions of law on which the arbitrator's decision is based. Judgment
upon the award rendered by the arbitrator may be entered by any court having
jurisdiction thereof. Unless otherwise required by law, the arbitrator will
award reasonable expenses (including reimbursement of the assigned arbitration
costs) to the prevailing party. Nothing in this Section 12(h) or in this
Agreement is intended to prevent Klassen or the Company from obtaining
injunctive relief in court to prevent irreparable harm pending the conclusion of
any such arbitration. 

(i) Governing Law. All questions concerning the
construction, validity and interpretation of this Agreement will be governed by
the law of the Nevada as applied to contracts made excluding the rules on
conflicts of law. 

(j) Currency. All dollar amounts stated in this
Agreement are in United States dollars. 

If you are in agreement with the terms set forth herein,
please sign and return a copy of this Agreement to me. 

 

Yours truly 

 

/S/ SHAILEN SINGH 

_______________________________ 

COFFEE PACIFICA, INC.

Shailen Singh on Behalf of the Board

 

 

Agreed to and Accepted 

 

 

/S/ TERRY KLASSEN 

___________________________ 

Terry Klassen

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00121-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00121-of-00352.parquet"}]]