Amendment No. 1 to Employment Agreement between EDGAR Online, Inc. and Susan Strausberg

Contract Categories: Human Resources › Employment Agreements
Summary

This amendment updates the employment agreement between EDGAR Online, Inc. and Susan Strausberg, originally dated April 26, 2004. It clarifies that if Susan Strausberg's employment ends due to death or disability, all her stock options and awards will immediately vest and remain exercisable for up to five years or the original option term, whichever is shorter. It also makes minor wording changes and extends similar vesting rights if the agreement is terminated under certain conditions. All other terms of the original agreement remain unchanged.

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EX-10.48 5 v014801_ex10-48.htm Unassociated Document
 
Amendment No. 1 to

Employment Agreement

By and Between

EDGAR Online, Inc. and

Susan Strausberg


This Amendment No. 1 to the Employment Agreement is dated as of January 31, 2005 and amends that certain Employment Agreement by and between EDGAR Online, Inc. and Susan Strausberg dated as of April 26, 2004 (the “Employment Agreement”).
 
WHEREAS, the parties wish to amend the Employment Agreement as follows:
 
1.  The following sentence is hereby added to the end of Section 7(b):

“However, in the event of termination of the Employee’s employment pursuant to this Section 7(b), on the date of the death of the Employee or the 181rst day after the Employee is deemed physically or mentally disabled for the purposes of this Agreement, all stock options and other awards under the Company’s stock option plans shall immediately vest and remain exercisable by the Employee or the Employee’s representative or Estate for the period of the lesser of (i) the original term of the stock option or (ii) five years.”

2.  In Section 7(c), the third to last word shall read “or” instead of “and.”
 
3.  The following sentence shall be added after the first sentence in Section 7(f):

“In addition, if the Agreement if terminated by either the Company or the Employee pursuant to this Section 7(f), all stock options and other awards under the Company’s stock option plans shall immediately vest and remain exercisable for the period of the lesser of (i) the original term of the stock option or (ii) five years.”

Other than as provided for herein, all terms and conditions of the Employment Agreement shall remain in full force and effect.
 

 
The parties have executed this Amendment No. 1 as of the date first written above.
 
     
  EDGAR ONLINE, INC.
 
 		  
 		  
 
Date: January 31, 2005 By:   /s/ Greg D. Adams
 
  COO and CFO

     
 
By:   /s/ SUSAN STRAUSBERG
 
Susan Strausberg