SEC Contract Filing

Filing Date: 2024-10-15

Document Content:
<DOCUMENT>
<TYPE>EX-10.11
<SEQUENCE>3
<FILENAME>tmb-20231231xex10d11.htm
<DESCRIPTION>EX-10.11
<TEXT>
<!--Enhanced HTML document created with Toppan Merrill Bridge 10.6.125.0--><!--Created on: 10/15/2024 07:39:02 PM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title></title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">Exhibit 10.11</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">EXECUTIVE EMPLOYMENT AGREEMENT</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">This </font><b style="font-size:12pt;font-weight:bold;">EXECUTIVE EMPLOYMENT AGREEMENT</b><font style="font-size:12pt;"> (&#8220;</font><b style="font-size:12pt;font-weight:bold;">Agreement</b><font style="font-size:12pt;">&#8221;) is made by and between Direct Digital Holdings, LLC, a Texas limited liability company (together with its successors and assigns, the &#8220;</font><b style="font-size:12pt;font-weight:bold;">Company</b><font style="font-size:12pt;">&#8221;), and Maria Lowery (&#8220;</font><b style="font-size:12pt;font-weight:bold;">Executive</b><font style="font-size:12pt;white-space:pre-wrap;">&#8221;). This Agreement shall be effective upon Executive&#8217;s start date with the Company, which will be August 22, 2022 unless otherwise agreed by the parties (the &#8220;</font><b style="font-size:12pt;font-weight:bold;">Effective Date</b><font style="font-size:12pt;">&#8221;).</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">RECITALS</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">WHEREAS</b><font style="font-size:12pt;">, the Company desires to employ Executive pursuant to the terms in this Agreement, and Executive desires to be employed by the Company pursuant to the terms in this Agreement.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">NOW, THEREFORE</b><font style="font-size:12pt;">, in consideration of the foregoing recitals, the mutual covenants and conditions herein, and other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the parties hereby agree as follows:</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">AGREEMENT</b></p><table border="0" cellpadding="0" cellspacing="0"><tr><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:12pt;margin-top:0pt;"><b style="font-size:12pt;font-weight:bold;">1.</b></p></td><td style="padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:12pt;margin-top:0pt;"><b style="font-size:12pt;font-weight:bold;">Term.</b><font style="font-size:12pt;"> The Company hereby agrees to employ Executive, and Executive hereby accepts employment by the Company, on the terms and conditions hereinafter set forth. Executive&#8217;s term of employment by the Company under this Agreement (the &#8220;</font><b style="font-size:12pt;font-weight:bold;">Term</b><font style="font-size:12pt;">&#8221;) shall commence on the Effective Date and end on the date on which the term of employment is terminated in accordance with </font><b style="font-size:12pt;font-weight:bold;">Section 5</b><font style="font-size:12pt;">. Executive&#8217;s employment with the Company shall be on an employment &#8220;at-will&#8221; basis.</font></p></td></tr></table><table border="0" cellpadding="0" cellspacing="0"><tr><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:12pt;margin-top:0pt;"><b style="font-size:12pt;font-weight:bold;">2.</b></p></td><td style="padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:12pt;margin-top:0pt;"><b style="font-size:12pt;font-weight:bold;">Position.</b></p></td></tr></table><table border="0" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;padding:0pt;"></td><td style="vertical-align:text-top;white-space:nowrap;width:28.8pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:12pt;margin-top:0pt;"><b style="font-size:12pt;font-weight:bold;">(a)</b></p></td><td style="padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:12pt;margin-top:0pt;"><b style="font-size:12pt;font-weight:bold;">Duties.</b><font style="font-size:12pt;"> During the Term, the Company shall employ Executive as its Chief Growth Officer. Executive shall report directly to the Company&#8217;s Chief Executive Officer, subject to the specific direction of the Company&#8217;s manager, Direct Digital Holdings, Inc. and its Board of Directors (the &#8220;</font><b style="font-size:12pt;font-weight:bold;">Board</b><font style="font-size:12pt;white-space:pre-wrap;">&#8221;). Exe