SEC Contract Filing

Filing Date: 2021-05-05

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>tm2115101d1_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 10pt">Exhibit
10.1&nbsp;</FONT></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><FONT STYLE="font-size: 10pt">BENEFITFOCUS.COM,
INC.</FONT></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><FONT STYLE="font-size: 10pt">EMPLOYMENT
AGREEMENT</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">THIS EMPLOYMENT AGREEMENT (the &#8220;<B>Agreement</B>&#8221;)
is made and entered into this 29th day of April, 2021, by and between Benefitfocus.com, Inc., having its principal place of business at
100 Benefitfocus Way, Charleston, SC 29492 (hereinafter referred to as &#8220;<B>Benefitfocus</B>&#8221; or the &#8220;<B>Company</B>&#8221;,
and being wholly owned by Benefitfocus, Inc. (the &#8220;<B>Parent Company</B>&#8221;)), and <B>Matthew Levin</B>, (hereinafter referred
to as the &#8220;<B>Associate</B>&#8221; or &#8220;<B>you</B>&#8221;).</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>1.</B></TD><TD STYLE="text-align: justify"><U>Employment</U>. Benefitfocus hereby agrees to employ the Associate upon the terms and conditions set
out in this Agreement, and the Associate accepts such employment. Beginning on the Start Date (as defined below), Associate will commence
employment as the President and Chief Executive Officer of Benefitfocus and Parent Company (the &#8220;<B>CEO</B>&#8221;), reporting directly
to the Board of Directors of the Parent Company (the &#8220;<B>Board</B>&#8221;), and will be a member of the Board. During the period
Associate serves as CEO, Associate shall also be a member of the Board.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>2.</B></TD><TD STYLE="text-align: justify"><U>Term</U>. The term of this Agreement shall commence upon execution, and Associate&#8217;s employment
with Benefitfocus shall commence on May 10, 2021 (the &#8220;<B>Start Date</B>&#8221;). The Associate understands and acknowledges that
employment is &#8220;at will&#8221; and is terminable at any time at the will of Benefitfocus or the Associate, notwithstanding any other
provisions of this Agreement, including Section&nbsp;19 and subject to the terms of <U>Exhibit&nbsp;A</U>. Except as otherwise specified
herein, this Agreement shall remain in force until terminated at the will of either party or as described in Section&nbsp;19 of this Agreement.
Subject to Section 27(c) and Section 27(d), this Agreement will terminate and be of no further force or effect if Associate does not commence
employment on the Start Date for any reason.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>3.</B></TD><TD STYLE="text-align: justify"><U>Duties</U>. The Associate shall perform duties and responsibilities comparable with the executive duties
and authority of chief executive officers of similar businesses of similar size in the United States, subject to reporting to the Board.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>4.</B></TD><TD STYLE="text-align: justify"><U>Compensation</U>. The Associate&#8217;s compensation and other terms of employment shall be in accordance
with <U>Exhibit&nbsp;A</U>, which is incorporated herein and made a part hereof.</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>5.</B></TD><TD STYLE="text-align: justify"><U>Extent of Services</U>. The Associate shall devote his time, attention, and energies to Benefitfocus&#8217;
business and shall not, during the term of this Agreement, be engaged in other business activities that conflict wit