Document:

Exhibit 10.35

 

February 17, 2000

 

Mr. Thomas S. Bednarik

10383 N 118th Place

Scottsdale, AZ 85259

 

Dear Tom:

 

On behalf of Vitrix Incorporated (the “Company”), a subsidiary of Vitrix, Inc.
(f/k/a FBR Capital Corporation), I am pleased to offer you the position of CEO
and President. In this position, you will be responsible for overall operations
of the Company. Your election to the Board of Directors is expected to occur at
the first Board meeting following your acceptance of this offer.

 

Terms of your employment at Vitrix include the following:

 

1.             Employment At Will.          The Company hereby employs you
subject to the terms and conditions herein set forth. This employment
relationship is an “at-will” relationship, which is severable at the pleasure
of either you or the Company at any time, for any reason, with or without
notice, with or without cause.

 

2.             Compensation.   Your initial base
salary for this position shall be $115,000 annually, paid twice monthly in
accordance with the Company’s payroll policy as in effect from time to time. You
will also be paid a quarterly bonus payable in cash according to the schedule provided
below if Vitrix’s revenues for the applicable quarter exceed the amount
indicated below:

 

Quarterly Bonus Plan

	
   

  	
   

  	
  FYQ1 2000

  	
   

  	
  FYQ2 2000

  	
   

  	
  FYQ3 2000

  	
   

  	
  FYQ4 2000

  	
   

  	
  Total

  	
   

  
	
  Revenues of

  	
   

  	
  $

  	
  202,669

  	
   

  	
  $

  	
  361,206

  	
   

  	
  $

  	
  409,357

  	
   

  	
  $

  	
  728,406

  	
   

  	
  $

  	
  1,701,638

  	
   

  
	
  Cash Bonus

  	
   

  	
  0

  	
   

  	
  0

  	
   

  	
  $

  	
  5,000

  	
   

  	
  $

  	
  15,000

  	
   

  	
  0

  	
   

  
																	

 

In addition, you will also be paid an annual bonus payable in cash
according to the schedule provided below if Vitrix’s revenues for the full
fiscal year exceed the amount indicated below:

 

FY2000 Annual Bonus Plan (ending June 30, 2000)

	
  Revenues of

  	
   

  	
  $

  	
  1,800,000

  	
   

  	
  $

  	
  2,000,000

  	
   

  	
  $

  	
  2,500,000

  	
   

  
	
  Cash Bonus

  	
   

  	
  $

  	
  5,000

  	
   

  	
  $

  	
  15,000

  	
   

  	
  $

  	
  40,000

  	
   

  

 

3.             Medical/Dental.   You will qualify for
participation in the Vitrix group medical and dental plan in accordance with
current guidelines. Vitrix pays for the individual employee’s medical coverage,
and contributes at 50% for family coverage. The Group dental plan is optional
and the Company does not make any contributions with respect to such plan.

 

 

4.             Vacation/Sick/Personal
time.   You will be immediately eligible for combined
vacation/sick/personal time in the amount of 3 weeks (120 hours) per year. You
accrue time immediately and will be eligible to take compensated time off after
60 days of employment. If you have any personal obligations that need to be
addressed within that time, please let me know. You will also be eligible for
eight published legal holidays during the year.

 

5.             Stock Options.

 

(a)           You will be initially
granted options to purchase an aggregate of 1,000,000 shares of Vitrix, Inc.
common stock (“Vitrix Common Stock”). These options shall vest in equal
increments over a four-year period commencing from the date of your employment
(i.e., 25% of the options granted to you (250,000) shall first vest upon the
one year anniversary of the date of your employment and on each one year
anniversary thereafter). The per share exercise price of the options shall
equal the current market price of Vitrix Common Stock as of the date of your
acceptance of this employment offer. The term of your options will be set forth
in a separate option agreement (the “Option Agreement”).

 

(b)           In the event your
employment is terminated at any time by the Company without cause, you shall be
immediately vested in the current years options as severance compensation, and
the remainder of the options shall lapse. The term “cause” shall be defined in
the Option Agreement.

 

(c)           In the event the Company
is acquired or merged into another company, you will be automatically vested in
your outstanding unvested options.

 

6.             Your
Representations.   You
hereby represent and warrant as follows:

 

a.             You are under no
contractual or other restriction or obligation which is inconsistent with
becoming employed with or by the Company, the performance of your duties owed
to the Company, or any other rights of the Company.

 

b.             You are under no
contractual non-compete or non-solicitation agreement or other substantially
similar restriction with any other third party.

 

c.             Neither the Company
nor any of its affiliates or any of their respective officers, directors,
employees, agents or representatives has requested that you communicate or
otherwise make available to any such parties at any time any proprietary
information, data, trade secrets, or other confidential information belonging
to your former employer(s) or others.

 

d.             The Company has
instructed you not to duplicate, reproduce or in any way take with you from
your former employer(s) or elsewhere any proprietary information, data, trade
secrets or other confidential information belonging to your former employer(s)
or others.

 

e.             You have not made
available to the Company any proprietary information, data, trade secrets, or
other confidential information belonging to your former employer(s) or others,
and shall not disclose or use for or to the benefit of the Company any such
information.

 

 

f.              You have not
duplicated, reproduced or in any way taken from your former employer(s) or
elsewhere any proprietary information, data, trade secrets, or other
confidential information belonging to your former employer(s) or others, and
you do not currently have in your possession, custody or control any such
information.

 

g.             Neither the Company
nor any of its affiliates or any of their respective officers, directors,
employees, agents or representatives has requested that you solicit or
otherwise recruit for employment with the Company any person who was a
co-employee of yours at your former employer(s).

 

h.             You have not solicited
or otherwise recruited for employment with the Company any person who was a
co-employee of yours at your former employer(s).

 

7.             Amendment; Waiver.   This letter agreement (“Agreement”)
may be modified or amended only by a writing signed by both you and an
authorized representative of the Company. The failure at any time to enforce
any of the provisions of this Agreement in no way shall be construed as a
waiver of said provisions and shall not affect the right of either party
thereafter to enforce each and every provision hereof in accordance with its
terms.

 

8.             Severability.   If any provision of this
Agreement is determined to be unenforceable for any reason, but could be
rendered enforceable by minor changes that do not have a material adverse
effect on the benefits of this Agreement to either party, these changes shall
be deemed made and all other provisions of the Agreement shall remain in full
force and effect.

 

9.             Governing Law.   The validity, construction,
and enforcement of, and the remedies under, this Agreement shall be governed in
accordance with the laws of the State of Arizona, regardless of any conflict of
laws rules.

 

10.          Entire Agreement.   This Agreement
supersedes any and all other oral or written agreements heretofore made
relating to the subject employment of you by the Company and constitutes the
entire agreement of the parties relating to the subject matter hereof. This
Agreement does not in any way supersede that certain Confidentiality Agreement
entered into by and between you and the Company, dated the         
day of                               ,
2000, and attached hereto as Exhibit A, which remains in full force and
effect.

 

11.          No Modification of
At-Will Employment Relationship.   Nothing in this
Agreement shall operate to modify the at-will employment relationship set forth
herein, and either you or the Company can terminate your employment hereunder
at any time, with or without notice, with or without cause.

 

I trust that the above information will address a majority of your
questions regarding the key elements of this offer for employment. If I can
clarify anything else, please contact me immediately. We would anticipate
beginning your employment no later than March 1, 2000.

 

 

Tom, we look forward to welcoming you as a part of our young, but rapidly
growing team.

 

	
  Sincerely,

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Michael A. Wolf

  	
   

  
	
  President & CEO

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Please indicate your acceptance of this offer by signature:

  	
   

  	
   

  
	
   

  	
  Thomas S. Bednarik

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  DateEXHIBIT 10.1

 

MONSTER WORLDWIDE, INC.

622 THIRD AVENUE

NEW YORK, NY 10017

 

September 28, 2005

 

Mr. Paul Camara

 

Dear Paul:

 

This will confirm our understanding and agreement with respect to your
employment as Executive Vice President of Monster Worldwide, Inc. (the “Company”),
effective as of September 28, 2005. You and the Company hereby agree as
follows:

 

1.             The Company agrees to
employ you and you agree to be employed by the Company as Executive Vice
President, with such duties and responsibilities with respect to the Company
and its affiliates as Andrew J. McKelvey (“AJM”) shall reasonably direct.  You agree to devote your best efforts,
energies, abilities, time, skill and attention to your duties.  You agree to perform the duties and
responsibilities assigned to you to the best of your ability, in a diligent,
trustworthy, businesslike and efficient manner for the purpose of advancing the
business of the Company and its affiliates and to adhere to any and all of the
employment policies of the Company.

 

2.             The term of your
employment under this agreement is for a period commencing on the date hereof
and ending on December 31, 2007, provided, however, that
your employment with the Company under this agreement is subject to earlier
termination at any time as provided in Section 4 below.

 

3.             In consideration for
your services and other agreements hereunder, during your employment under this
agreement the Company shall (a) pay you a base salary of $500,000 per year
(prorated for periods of less than one year) in regular installments in
accordance with the Company’s payroll practice for salaried employees, (b) provide
you with medical, dental and disability coverage, if any, and 401(k) Plan, life
insurance and other benefit plan eligibility, if any, comparable to that
regularly provided to other senior management in accordance with the Company’s
policies, (c) provide you with 4 weeks vacation per year in accordance
with the Company’s policies (prorated for periods of less than one year), and (d) for
calendar 2005 only, provide you with a performance bonus in accordance with and
subject to each and every term and condition set by the Compensation Committee
(the “Compensation Committee”) of the Board on March 29, 2005, including
but not limited to any bonuses being subject to the Company’s attainment of
certain specified EPS Goals (as defined by the Compensation Committee).  It its understood and agreed that the terms
and conditions of bonuses, if any, for any period after calendar 2005 shall be
subject to the sole and absolute discretion of AJM and the Compensation
Committee.

 

4.             (a)           You
may terminate your employment under this agreement at any time upon 60 days’
prior written notice.  The Company may,
by written notice from AJM, or in the event he is no longer with the Company,
by written notice authorized by the Board of Directors, terminate your
employment under this agreement at any time upon written notice. Your
employment under this agreement shall also terminate automatically in the event
you should die or, in the reasonable determination of the Company, become
unable to perform by reason of physical or mental incompetency your obligations
hereunder for a period of 120 days in any 365-day period.  In the event of your death during the term of
your employment under this agreement, your estate or your designated
beneficiaries shall be entitled to receive your then applicable base salary
hereunder for the period, if any, between the date of death and December 31,
2007, payable in regular installments in accordance with the Company’s
applicable payroll practice for salaried employees, and, to the extent
theretofore unpaid, the bonus for calendar 2005 contemplated by Section 3(d) above,
payable as and when it would have been paid had you remained employed by the
Company.

 

 

(b)           It is understood and
agreed that in the event that your employment under this agreement is
terminated (x) by the Company in accordance with the second sentence of Section 4(a) other
than for Cause (as defined below), or (y) by you in accordance with the last
sentence of this Section 4(b), then subject to (i) your execution and
delivery of the Company’s then current form of separation agreement and general
release applicable to similarly situated employees and (ii) the expiration
of any rescission period provided thereby (without the rescission having been
exercised), as your sole and exclusive remedy, you shall be entitled to (a) receive
as severance your then applicable base salary hereunder for the period, if any,
between the effective date of termination and December 31, 2007, payable
in regular installments in accordance with the Company’s applicable payroll
practice for salaried employees, (b) through the date which is twenty one
(21) months after the last day of your employment, have the Company make
available to you (and/or pay COBRA premiums on) medical and dental benefits on
the same terms and conditions (including without limitation premium
contribution terms) as would have been made available to you had you remained
employed by the Company during such period, and (c) after the expiration
of this twenty one month period and for so long as you shall live, have the
Company provide you with (or reimburse you for the premiums on) medical and
dental benefits substantially similar (including without limitation
substantially similar premium contribution terms) to those that would have been
available to you had you remained employed by the Company during such period,
it being understood however that from and after the date you became eligible
for Medicare coverage the medical and dental benefits called for by this clause
(c) shall be supplemental benefits. 
In the event that prior to December 31, 2007, you terminate your
employment under this agreement effective as of a date which is within a period
of twelve months following a Change in Control (as defined below), such event
shall, for purposes of post employment compensation under this agreement only,
be deemed to be a termination by the Company without “Cause.”

 

(c)           In the event
your employment under this agreement has not been terminated by you or the
Company prior to December 31, 2007, it is understood and agreed that in
the event that your employment under this agreement is not renewed or otherwise
extended by the Company in writing in its sole and absolute discretion to a
date after December 31, 2007 (a “Nonrenewal”), then subject to (i) your
execution and delivery of the Company’s then current form of separation
agreement and general release applicable to similarly situated employees and (ii) the
expiration of any rescission period provided thereby (without the rescission
having been exercised), as your sole and exclusive remedy, (a) through the
date which is twenty one (21) months after the last day of your employment, the
Company shall make available to you (and/or pay COBRA premiums on) medical and
dental benefits on the same terms and conditions (including without limitation
premium contribution terms) as would have been made available to you had you
remained employed by the Company during such period, and (b) after the
expiration of this twenty one month period and for so long as you shall live,
to provide you with (or reimburse you for the premiums on) medical and dental
benefits substantially similar (including without limitation substantially
similar premium contribution terms) to those that would have been available to
you had you remained employed by the Company during such period, it being
understood however that from and after the date you became eligible for
Medicare coverage the medical and dental benefits called for by this clause (b) shall
be supplemental benefits.

 

(d)           Except as expressly
provided in the preceding Sections 4(b) or 4(c), in the event of the
termination of your employment for any reason, the Company shall have no
further obligations to you hereunder or with respect to your employment from
the effective date of termination.  “Cause”
shall mean the occurrence of any one or more of the following events:  (i) your willful failure or gross
negligence in performance of your duties or compliance with the reasonable
directions of the AJM that remains unremedied for a period of twenty (20) days
after AJM has given written notice specifying in reasonable detail your failure
to perform such duties or comply with such directions; (ii) your failure
to comply with a material employment policy of the Company that remains
unremedied for a period of twenty (20) days after AJM has given written notice
to you specifying in reasonable detail your failure to comply; or (iii) your
commission of (a) a felony, (b) criminal dishonesty, (c) any
crime involving moral turpitude or (d) fraud.

 

5.             You acknowledge that
you have not relied on any representation not set forth in this agreement.  You represent that you are free to enter into
this employment arrangement and that you are not bound by any restrictive
covenants or similar provisions restricting the performance of your duties
hereunder.

 

2

 

6.             In the event
of (x) the termination of your employment prior to December 31, 2007 by
the Company for reasons other than Cause or (y) a Nonrenewal, any unvested and
unexercisable options covered by the option agreements between you and the
Company dated December 9, 1998, , August 5, 1999,  September 10, 2001, September 11,
2002, February 9, 2004 and December 28, 2004, in each case as such
option agreements may have been amended or modified by Amendment No. 1 to
Stock Option Agreements (the “Amendment”) dated September 11, 2002 or by
modifications by the Compensation Committee (the “Modifications”), including
but not limited to the Modification approved by the Compensation Committee on May 4,
2005, (collectively, the “Specified Option Agreements”), as well as any other
options which may granted to you by the Company from time to time in its sole
and absolute discretion pursuant to written option agreements, shall
automatically and immediately become (i) fully vested and exercisable and (ii) remain
exercisable for the balance of the ten year term provided by the applicable
stock option agreement, subject to the other terms of such option agreement not
inconsistent with this sentence.

 

In the event of any Change in Control (as defined in the option
agreement between you and the Company dated September 11, 2002):

 

(a)                                  options to purchase
Common Stock of the Company that have been or may be granted to you from time
to time by the Company in its sole and absolute discretion pursuant to written
stock option agreements between you and the Company (including but not limited
to the options covered by the Specified Option Agreements), and

 

(b)                                 shares of restricted
stock that have been or may be granted to you from time to time by the Company
in its sole and absolute discretion pursuant to written stock bonus agreements
between you and the Company,

 

in each case which have not theretofore vested or become exercisable,
shall automatically and immediately become fully vested and exercisable (in the
case of options, for the balance of the ten year term provided by the
applicable stock option agreement), subject to the other terms of the
applicable agreements not inconsistent with this sentence.

 

7. (a)       Anything in this agreement
to the contrary notwithstanding, in the event it shall be determined that any
payment or distribution by the Company to or for the benefit of you (whether
paid or payable or distributed or distributable pursuant to the terms of this
agreement or otherwise, but determined without regard to any additional
payments required under this Section 7) (a “Company Payment”) would be
subject to the excise tax imposed by Section 4999 of the Internal Revenue
Code of 1986, as amended (the “Code”), or any interest or penalties are
incurred by you with respect to such excise tax (such excise tax, together with
any such interest and penalties, are hereinafter collectively referred to as
the “Excise Tax”), then you shall be entitled to receive an additional payment
(a “Gross-Up Payment”) in an amount such that after payment by you of all taxes
(including any interest or penalties imposed with respect to such taxes),
including, without limitation, any income taxes (and any interest and penalties
imposed with respect thereto) and Excise Tax imposed upon the Gross-Up Payment,
you retain an amount of the Gross-Up Payment equal to the Excise Tax imposed
upon the Company Payments.

 

(b)           For purposes of
determining whether any of the Company Payments and Gross-Up Payments
(collectively the “Total Payments”) will be subject to the Excise Tax and the
amount of such Excise Tax, (i) the Total Payments shall be treated as “parachute
payments” within the meaning of Section 280G(b)(2) of the Code, and
all “parachute payments” in excess of the “base amount” (as defined under Code Section 280G(b)(3) of
the Code) shall be treated as subject to the Excise Tax, unless and except to
the extent that, in the opinion of the Company’s independent certified public
accountants appointed prior to any change in ownership (as defined under Code Section 280G(b)(2))
or tax counsel selected by such accountants (the “Accountants”) such Total
Payments (in whole or in part) either do not constitute “parachute payments,”
represent reasonable compensation for services actually rendered within the
meaning of Section 280G(b)(4) of the Code in excess of the “base
amount” or are otherwise not subject to the Excise Tax, and (ii) the value
of any non-cash benefits or any deferred payment or benefit shall be determined
by the Accountants in

 

3

 

accordance with the principles of Section 280G of the Code.

 

(c)           For purposes of
determining the amount of the Gross-Up Payment, you shall be deemed to pay U.S.
federal income taxes at the highest marginal rate of U.S. federal income
taxation in the calendar year in which the Gross-Up Payment is to be made and
state and local income taxes at the highest marginal rate of taxation in the
state and locality of your residence for the calendar year in which the Company
Payment is to be made, net of the maximum reduction in U.S. federal income taxes
which could be obtained from deduction of such state and local taxes if paid in
such year.  In the event that the Excise
Tax is later determined by the Accountant or the Internal Revenue Service to
exceed the amount taken into account hereunder at the time the Gross-Up Payment
is made (including by reason of any payment the existence or amount of which
cannot be determined at the time of the Gross-Up Payment), the Company shall
make an additional Gross-Up Payment in respect of such excess (plus any interest
or penalties payable with respect to such excess) at the time that the amount
of such excess is finally determined.

 

(d)           The Gross-Up Payment or
portion thereof provided for in subsection (c) above shall be paid
not later than the thirtieth day following an event occurring which subjects
you to the Excise Tax; provided, however, that if the amount of such Gross-Up
Payment or portion thereof cannot be finally determined on or before such day,
the Company shall pay to you on such day an estimate, as determined in good
faith by the Accountant, of the minimum amount of such payments and shall pay
the remainder of such payments (together with interest at the rate provided in Section 1274(b)(2)(B) of
the Code), subject to further payments pursuant to subsection (c) hereof,
as soon as the amount thereof can reasonably be determined, but in no event
later than the ninetieth day after the occurrence of the event subjecting you
to the Excise Tax.

 

(e)           If any controversy
arises between you and the Internal Revenue Service or any state or local
taxing authority (a “Taxing Authority”) with respect to the treatment on any
return of the Gross-Up Payment, or of any Company Payment, or with respect to
any return which a Taxing Authority asserts should show an Excise Tax, including,
without limitation, any audit, protest to an appeals authority of a Taxing
Authority or litigation (“Controversy”), (i) the Company shall have the
right to participate with you in the handling of such Controversy, (ii) the
Company shall have the right, solely with respect to a Controversy, to direct
you to protest or contest any proposed adjustment or deficiency, initiate an
appeals procedure within any Taxing Authority, commence any judicial
proceeding, make any settlement agreement, or file a claim for refund of tax,
and (iii) you shall not take any of such steps without the prior written
approval of the Company, which the Company shall not unreasonably withhold. If
the Company so elects, you shall be represented in any Controversy by
attorneys, accountants, and other advisors selected by the Company, and the
Company shall pay the fees, costs and expenses of such attorneys, accountants,
or advisors, and any tax liability you may incur as a result of such payment.
You shall promptly notify the Company of any communication with a Taxing
Authority, and you shall promptly furnish to the Company copies of any written
correspondence, notices, or documents received from a Taxing Authority relating
to a Controversy. You shall cooperate fully with the Company in the handling of
any Controversy by furnishing the Company any information or documentation
relating to or bearing upon the Controversy; provided, however, that you shall
not be obligated to furnish to the Company copies of any portion of your tax
returns which do not bear upon, and are not affected by, the Controversy.

 

(f) You shall pay over to the Company,
with ten (10) days after receipt thereof, any refund you receive from any
Taxing Authority of all or any portion of the Gross-Up Payment or Excise Tax,
together with any interest you receive from such Taxing Authority on such
refund. For purposes of this Section 7, a reduction in your tax liability
attributable to the previous payment of the Gross-Up Payment or the Excise Tax
shall be deemed to be a refund. If you would have received a refund of all or
any portion of the Gross-Up Payment or the Excise Tax, except that a Taxing
Authority offset the amount of such refund against other tax liabilities,
interest, or penalties, you shall pay the amount of such offset over to the
Company, together with the amount of interest you would have received from the
Taxing Authority if such offset had been an actual refund, within ten (10) days
after receipt of notice from the Taxing Authority of such offset.

 

8.             As a material
inducement to the Company to enter into this Agreement, you hereby expressly
agree to be bound by the following covenants, terms and conditions.

 

4

 

(a)           You
acknowledge that you have extensive knowledge of the Business (as defined
below) and have had and will continue to have access to the proprietary and
confidential information used by the Company and its affiliates in the Business
and that if you were to compete with the Company or its affiliates in the
Business, great harm would come to the Company and its affiliates. Accordingly,
you covenant and agree that, through the date that is five years after the last
day of your employment with the Company (the “Specified Period”), except on
behalf of the Company and its affiliates in accordance with your obligations
under this agreement, you will not, directly or indirectly, as employee, agent,
consultant, stockholder, director, partner or in any other individual or
representative capacity, own, operate, manage, control, engage in, invest in or
participate in any manner in, act as a consultant or advisor to, render
services for (alone or in association with any person, firm, corporation or
entity), or otherwise assist any person or entity that engages in or owns,
invests in, operates, manages or controls any venture or enterprise that
directly or indirectly engages or proposes to engage in the Business anywhere
in or into the any of countries in which the Company or affiliates do business.
Notwithstanding the foregoing, nothing contained in this Section 8(a) shall prohibit
you from owning not more than an aggregate of one percent (1%) of any class of
stock of any company involved in the Business that is listed on a national
securities exchange or traded in the over-the-counter market. As used herein,
the term “Business” means (i) the recruitment advertising business,
including without limitation the placement of help wanted advertisements in
newspapers and on Internet job boards and the provision of advertising,
marketing, communications and related services for human resource, recruiting
or retention purposes, (ii) the Internet job board business, including
without limitation the provision of an online medium for (1) the posting
of job openings by organizations seeking employees and the viewing of such
openings by individuals, and/or (2) the posting of resumes by individuals
seeking positions with employers or other organizations and the viewing of such
resumes by potential employers and staffing and other organizations, and (iii) any
other business in which the Company or any of its affiliates is or may be
involved from time to time.

 

(b)           Without limiting the
provisions of Section 8(a) hereof,
during the Specified Period, except on behalf of the Company and its affiliates
in accordance with your obligations under this agreement, you agree not to,
directly or indirectly, solicit or perform Business related services for, or
interfere with or endeavor to entice away from the Company or any of its
affiliates, any client to whom the Company or any of its affiliates provided
services at any time during the then preceding twelve months, or any prospective client to whom the Company or any of its
affiliates had made a formal presentation at any time during the then preceding
twelve months, and, during the Specified Period, except on behalf of the
Company and its affiliates in accordance with your obligations under this
agreement, you agree not to, directly or indirectly, hire, attempt to hire,
solicit for employment or encourage the departure of any employee of the
Company or any of its affiliates of any individual who was employed by the
Company or any of its affiliates at any time during the then preceding twelve
months.

 

(c)           During the course of
your relationship with the Company and its affiliates, you have had and will
continue to have access to trade secret, proprietary and confidential
information relating to the Company and its affiliates and their respective
clients, including but not limited to, marketing data, financial information,
client lists (including without limitation, Rolodex type or computer based
compilations maintained by the Company or its affiliates or you), and details
of programs and methods, pricing policies, strategies, profit margins and software,
in each case of the Company, its affiliates and/or their respective clients.
From and after the date of this agreement, you agree to keep secret and retain
in strictest confidence all of such trade secret, proprietary and confidential
information, and will not disclose, disseminate or use such information for
your own advantage or for the advantage of any other person or entity.  In the event disclosure of any such trade
secret, proprietary and confidential information is required or purportedly
required by law, you will provide the Company with prompt notice of any such
requirement so that the Company may seek an appropriate protective order.

 

(d)           You
acknowledge that in the event you violate any provisions of this Section 8,
in addition to its other rights and remedies, the Company shall be entitled to
injunctive relief without the necessity of proving actual damages. You further
acknowledge that if any provision of this Section 8 is held to be
unenforceable, the court making such holding shall have the power to modify
such provision and in its modified form such provision shall be enforced.

 

5

 

(e)           You acknowledge and
agree that the provisions of this Section 8 are in addition to, and
not in lieu of, any non-solicitation, confidentiality, non-competition, nonraid
and/or similar obligations which you have with respect to the Company and/or
its affiliates, whether by agreement, fiduciary obligation or otherwise, and
you acknowledge and affirm that you will strictly abide by the provisions of
all such obligations, including but not limited to those set forth in the
Specified Option Agreements.

 

9.             All notices, demands
or other communications to be given or delivered under or by reason of this
agreement shall be in writing and shall be deemed to have been properly served
if delivered personally, by courier, or by certified or registered mail, return
receipt requested and first class postage prepaid, in case of notice to the
Company, to the attention of AJM at the address set forth on the first page of
this agreement (with a copy to Myron Olesnyckyj, Monster Worldwide, Inc.,
622 Third Avenue, 39th Floor, New York, NY 10017) and in the case of notices to
you to your office or residence address, or such other addresses as the
recipient party has specified by prior written notice to the sending
party.  All such notices and
communications shall be deemed received upon the actual delivery thereof in
accordance with the foregoing.

 

10.           You may not assign or
delegate this agreement or any of your rights or obligations hereunder without
the prior written consent of the Company. 
All references in this agreement to practices or policies of the Company
are references to such practices or policies as may be in effect from time to
time.

 

11.           This
agreement (i) constitutes the entire agreement between the parties with
respect to the subject matter hereof and supersedes any previous arrangements
you on the one hand and the Company and/or any of the Company’s affiliates on
the other hand, including but not limited to the letter agreement between you
and the Company dated April 28, 2003, as amended by the agreement dated as
of September 8, 2005 (but does not supercede the terms of the Specified
Option Agreements, as they may be modified pursuant to Section 6 above),
nor the terms of the Amendment, nor the terms of the option agreements between
you and the Company dated January 6, 1997 and December 12, 1997), nor
the terms of the Modifications, (ii) may be signed in counterparts, (iii) shall
be governed by the laws of the state of New York (other than the conflicts of
laws provisions thereof) and (iv) may not be amended, terminated, extended
or waived orally. This agreement shall be binding on and inure to the benefit
of the parties’ successors, heirs, estates and beneficiaries. All of rights and
obligations shall survive your death and shall be binding on and inure to the
benefit of your estate or your designated beneficiaries.

 

Please sign the additional originally executed copy of this letter in
the space provided for your signature below to indicate your acceptance and
agreement with the terms of this letter agreement and return one fully executed
original to me.

 

Very truly yours,

 

MONSTER WORLDWIDE, INC.

 

 

	
  By:

  	
    /s/ Andrew J. McKelvey

  	
   

  	
   

  
	
  Name:  Andrew J. McKelvey

  	
   

  
	
  Title: Chief Executive Officer

  	
   

  
	
   

  	
   

  
	
  Accepted and agreed:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/  Paul Camara

  	
   

  	
   

  
	
  Paul Camara

  	
   

  
					

 

6

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