This Employment Agreement (the "Agreement") is entered into as of March 17, 2003 (the "Commencement Date") by MarketWatch.com, Inc. (the "Company") and Doug Appleton (the "Executive").

1. Term of Employment. The term of employment of Executive by the Company hereunder shall commence on the Commencement Date and shall continue thereafter under the terms of this Agreement and any amendments agreed to from time to time between Company and Executive for a period of three years (the "Term") unless earlier terminated pursuant to Section 6 (such term being hereinafter referred to as the "Employment Period").
2. Title; Duties. The Executive shall serve as General Counsel reporting to the Chief Executive Officer. Executive shall perform those duties and responsibilities inherent in the position of General Counsel, including such duties and responsibilities as the Chief Executive Officer shall assign. Executive shall serve the Company faithfully and to the best of his ability in such capacities, devoting his full business time, attention, knowledge, energy and skills to such employment; provided, however, the Company acknowledges that Executive may serve on the board of directors of other companies with the prior approval of the Chief Executive Officer. Executive shall travel as reasonably required in connection with the performance of his duties hereunder.
3. Compensation. The Company shall pay, and Executive shall accept, as full consideration for his services hereunder compensation consisting of the following:

3.1 Base Salary. $175,000 per year base salary during the first year of the Term and subject to increase by the Board during successive years of the Term ("Base Salary"). Base Salary is payable in installments in accordance with the Company's normal payroll practices, less such deductions or withholdings as are required by law.

3.2 Bonus. Annual target bonus (the "Target Bonus") at the rate and in accordance with the specifications on Exhibit A attached hereto.

3.3 Equity Option. An option to purchase 100,000 shares of the Company's common stock shall be granted on the Commencement Date, with an exercise price per share equal to the fair market value of the Company's common stock as of the date of the grant (the "Option"). The Option shall vest and become exercisable as to one-third of the total shares subject to the Option on each of the first three anniversaries of the date of grant. Executive shall be eligible to receive grants of additional options on an annual basis at the sole discretion of the Board.

3.4 Vacation. You will be entitled to three (3) weeks, which is equal to fifteen (15) working days, of vacation during the calendar year. The amount of vacation time available to you during your first year is determined by the proration based on the number of full months of employment completed by you during the year.

4. Benefits. Subject to all applicable eligibility requirements and legal limitations, Executive will be able to participate in any and all 401(k), vacation, medical, dental, life and long-term disability insurance and/or other benefit plans which from time to time may be established for other employees of the Company.
5. Reimbursement of Expenses. The Company will reimburse Executive for all reasonable travel, entertainment and other expenses incurred or paid by the Executive in connection with, or related to, the performance of his duties, responsibilities or services under this Agreement, subject to review by the Board or its compensation committee, if applicable.

 

End of Preview

 

Home        Intelligence        Services        Subscriptions        News        About Us

Contact Us       Terms of Use       Resend Documents       Shopping Cart

Copyright © 2008 The Consus Group LLC