EMPLOYMENT AGREEMENT

This Employment Agreement (the "Agreement"), is entered into as of December 1, 2001 (the "Commencement Date"), by MarketWatch.com, Inc. (the "Company") and Kathleen B. Yates (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 on the same terms and conditions for a period of three years unless earlier terminated pursuant to Sections 6 (such term being hereinafter referred to as the "Employment Period").
2. Title; Duties. The Executive shall serve as President and Chief Operating Officer of the Company reporting to the Chairman and Chief Executive Officer. Executive shall perform those duties and responsibilities inherent in the position of President and Chief Operating Officer, including such duties and responsibilities, as the Chairman and Chief Executive Officer shall assign. Executive shall serve the Company faithfully and to the best of her ability in such capacities, devoting her 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 Chairman and Chief Executive Officer. Executive shall travel as reasonably required in connection with the performance of her duties hereunder.
3. Compensation. The Company shall pay, and Executive shall accept, as full consideration for her services hereunder compensation consisting of the following:

   3.1 Base Salary. $275,000 per year base salary from the date of employment, which was December 1, 2001 to December 31, 2004. "Base Salary" shall mean the base salary provided for in this Section 3.1. 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 200,000 shares of the Company's common stock to be granted on the date of employment which was December 1, 2001, 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.

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 her duties, responsibilities or services under this Agreement, subject to review by the Board or its compensation committee, if applicable.

6. Benefit Upon Termination of Employment Period.

6.1 Disability. In the event of the permanent disability (as hereinafter defined) of Executive during the Employment Period,
 

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