SEC Contract Filing

Filing Date: 2022-05-11

Document Content:
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<TYPE>EX-10.2
<SEQUENCE>4
<FILENAME>brhc10037452_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
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 <div style="text-align: right;"><font style="font-weight: bold; font-family: 'Times New Roman';">Exhibit 10.2</font><font style="font-family: 'Times New Roman';"><br>
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 <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">SHUTTERSTOCK, INC.</div>
 <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">Empire State Building </div>
 <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">350 Fifth Avenue, 21st Floor</div>
 <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">New York, NY 10118</div>
 <div style="font-family: 'Times New Roman';">&#160;</div>
 <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Paul J. Hennessy</div>
 <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">[*]</div>
 <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">[*]</div>
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 <div style="text-align: left; text-indent: 27pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Re:</font><font style="font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold; font-size: 10pt;"><u>EMPLOYMENT

 AGREEMENT</u></font></font></div>
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 <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Dear Paul:</div>
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 <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt; text-indent: 27pt;">This Employment Agreement (the &#8220;<font style="font-size: 10pt; font-weight: bold; font-style: italic;">Agreement</font>&#8221;) between you (referred to
 hereinafter as the &#8220;<font style="font-size: 10pt; font-weight: bold; font-style: italic;">Executive</font>&#8221;) and Shutterstock, Inc., a Delaware corporation, including all direct and indirect subsidiaries and affiliated entities (collectively, the &#8220;<font style="font-size: 10pt; font-weight: bold; font-style: italic;">Company</font>&#8221;) sets forth the terms and conditions that shall govern the period of your employment with the Company (referred to hereinafter as &#8220;<font style="font-size: 10pt; font-weight: bold; font-style: italic;">Employment</font>&#8221; or the &#8220;<font style="font-size: 10pt; font-weight: bold; font-style: italic;">Employment Period</font>&#8221;).</div>
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 <div style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-indent: 27pt;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;"><u>Duties and Scope of Employment</u>.</font></div>
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 <div style="text-align: justify; text-indent: 54pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(a)</font><font style="font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt;"><font style="font-size: 10pt; font-weight: bold;"><u>At-Will Employment</u></font>. Executive will commence full-time Employment with the Company effective as of July 1, 2022 (the &#8220;<font style="font-size: 10pt; font-weight: bold; font-style: italic;">Effective Start Date</font>&#8221;)

 and the terms of such Employment will be governed by this Agreement. Executive&#8217;s Employment with the Company is for no specified period and constitutes &#8220;at will&#8221; employment. As a result, Executive is free to terminate Employment at any time, with
 or without advance notice, and for any reason or for no reason. Similarly, the Company is free to terminate Executive&#8217;s Employment at any time, with or without advance notice, and with or without Cause (as defined below). Furthermore, although
 terms and conditions of Executive&#8217;s Employment with the Company may change over time, nothing shall change the at-will nature of Executive&#8217;s Employment.</font></font></div>
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 <div style="text-align: justify; text-indent: 54pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">(b)</font><font style="font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt;"><font style="font-size: 10pt; font-weight: bold;"><u>Position and Responsibilities</u>. </font>During the Employment Period, the Company agrees to employ Executive in the position Chief Executive Officer. Executive will report to the Company&#8217;s Board of Directors (the &#8220;<font style="font-size: 10pt; font-weight: bold;">Board</font>&#8221;), and Executive will be working out of the Company&#8217;s office in New York City, New York. Executive will perform the duties and responsibilities and authority customarily performed and
 held by an employee in Executive&#8217;s position or as otherwise may be