SEC Contract Filing

Filing Date: 2021-07-01

Document Content:
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<TYPE>EX-10.4
<SEQUENCE>6
<FILENAME>d149423dex104.htm
<DESCRIPTION>EX-10.4
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<TITLE>EX-10.4</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.4 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>EMPLOYMENT AGREEMENT </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman"><B>THIS EMPLOYMENT AGREEMENT</B> (this &#147;<B><I>Agreement</I></B>&#148;) is entered into by and between The Beachbody Company, Inc., a
Delaware corporation (which is the successor company to The Beachbody Company Group, LLC, and is hereinafter defined as the &#147;<B><I>Company</I></B>&#148;) and Sue Collyns (the &#147;<B><I>Executive</I></B>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the Executive currently serves as President and Chief Financial Officer of the Company pursuant to that certain Offer Letter,
dated as of June&nbsp;25, 2014 (the &#147;<B><I>Prior Offer Letter</I></B>&#148;); and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the Company and the Executive
mutually desire to continue the employ of the Executive, effective as of the Effective Date, under the terms and conditions set forth herein and to supersede the Prior Offer Letter. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman"><B>NOW, THEREFORE, IT IS HEREBY AGREED AS FOLLOWS:</B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. <U>Employment Period</U>. Effective upon the Effective Date, the Executive&#146;s employment hereunder shall be for a term (the
&#147;<B><I>Employment Period</I></B>&#148;) commencing on the Effective Date and continuing indefinitely until terminated in accordance with the terms of this Agreement. Notwithstanding anything to the contrary in the foregoing, the
Executive&#146;s employment hereunder is terminable at will by the Company or by the Executive at any time (for any reason or for no reason), subject to the provisions of Section&nbsp;4 hereof. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. <U>Terms of Employment</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) <U>Position and Duties</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(i) <U>Role and Responsibilities</U>. During the Employment Period, the Executive shall continue to serve as the Company&#146;s
President and Chief Financial Officer, and shall perform such employment duties as are usual and customary for such position. The Executive shall report directly to the Company&#146;s Chief Executive Officer (&#147;<B><I>CEO</I></B>&#148;). At the
Company&#146;s request, the Executive shall serve the Company and/or its subsidiaries and affiliates in other capacities in addition to the foregoing, consistent with the Executive&#146;s position hereunder. In the event that the Executive, during
the Employment Period, serves in any one or more of such additional capacities, the Executive&#146;s compensation shall not be increased beyond that specified in Section&nbsp;2(b) hereof. In addition, in the event the Executive&#146;s service in one
or more of such additional capacities is terminated, the Executive&#146;s compensation, as specified in Section&nbsp;2(b) hereof, shall not be diminished or reduced in any manner as a result of such termination; <I>provided that</I> the Executive
otherwise remains employed under the terms of this Agreement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(ii) <U>Exclusivity</U>. During the Employment Period, and
excluding any periods of leave to which the Executive may be entitled, the Executive agrees to devote Executive&#146;s full business time and attention to the business and affairs of the Company. Notwithstanding the foregoing, during the Employment
Period, it shall not be a violation of this Agreement for the Executive to: (A)&nbsp;serve on boards, committees or similar bodies of charitable or nonprofit organizations, (B)&nbsp;fulfill limited teaching, speaking and writing engagements, and
(C)&nbsp;manage Executive&#146;s personal investments, in each case, so long as such activities do not individually or in the aggregate materially interfere or conflict with the performance of the Executive&#146;s duties and responsibilities under
this Agreement; <I>provided, that</I> with respect to the activities in subclauses (A)&nbsp;and/or (B), the Executive receives prior written approval from the Board or the CEO. For purposes of this Agreement, the Company and Executive agree that
Executive may participate on the boards set forth on <U>Schedule 1</U> hereto. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(iii) <U>Principal Location</U>. During the Employment Period, the Executive
shall perform the services required by this Agreement at the Company&#146;s offices located in Santa Monica, California or, to the extent permitted by the Company, from her home or other remote location (in either event, the &#147;<B><I>Principal
Location</I></B>&#148;), except