Agreement Regarding Executive Resignation and Severance—DoubleClick, Inc. and Kevin P. Ryan

Contract Categories: Human Resources › Separation Agreements
Summary

This agreement is between DoubleClick, Inc. and Kevin P. Ryan. Mr. Ryan agrees to remain in his current roles with DoubleClick until the closing of a merger involving the company. After the merger closes, he will resign from all positions. DoubleClick agrees to treat his resignation as a termination without cause, making him eligible for any severance or benefits he would receive in such a case. The agreement was signed on April 24, 2005.

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EX-10.1 2 y08115exv10w1.htm EX-10.1 AGREEMENT EX-10.1  

Exhibit 10.1

AGREEMENT

     In connection with the transactions contemplated by the Agreement and Plan of Merger by and among Click Holding Corp., Click Acquisition Corp. and DoubleClick Inc., dated as of April 23, 2005 (the “Merger Agreement”) the parties hereto agree as follows:

1.   Mr. Kevin P. Ryan (the “Executive”) agrees to continue to serve in his present positions as an officer, director or otherwise with DoubleClick, Inc. and its affiliates (the “Companies”) and perform all duties required of such Executive until the “Closing” (as such term is defined in the Merger Agreement);
 
2.   Upon the Closing, the Executive shall resign from any and all positions as an officer, director, or otherwise with the Companies; and
 
3.   DoubleClick, Inc. agrees to treat such Executive’s resignation as a termination by DoubleClick, Inc. without cause for purposes of any severance, retention or other payment or benefit to which Executive is entitled upon such termination.

Agreed and entered into this 24th day of April, 2005.

DOUBLECLICK, INC.

/s/ David N. Strohm     
Name: David N. Strohm
Title: Director

EXECUTIVE

/s/ Kevin P. Ryan     
Kevin P. Ryan