Amendment No. 1 to Employment Agreement between EDGAR Online, Inc. and Stefan Chopin

Summary

This amendment updates the employment agreement between EDGAR Online, Inc. and Stefan Chopin, effective January 31, 2005. It provides that if Mr. Chopin's employment ends due to death, disability, or certain other circumstances, all of his stock options and awards will immediately become fully vested and can be exercised for up to five years or the original term, whichever is shorter. All other terms of the original agreement remain unchanged.

EX-10.50 7 v014801_ex10-50.htm Unassociated Document

Amendment No. 1 to

Employment Agreement

By and Between

EDGAR Online, Inc. and

Stefan Chopin

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 Stefan Chopin dated as of February 18, 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. The following sentence is hereby added to the end of Section 7(c):

“In addition, 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.”

3. The following sentence is hereby added to the end of Section 7(f):

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/ SUSAN STRAUSBERG
		Susan Strausberg
		Chief Executive Officer and President



	By:	/s/ STEFAN CHOPIN
		Stefan Chopin