FranklyMedia LLC 27-01Queens Plaza North, Suite 502 LongIsland City, NY 11101

EX-10.21 15 ex10-21.htm

 

EXHIBIT 10.21

 

Frankly Media LLC

27-01 Queens Plaza North, Suite 502

Long Island City, NY 11101

 

  Dated as of August 15, 2016

 

Omar Karim

360A 13th Street

Brooklyn, NY 11215

 

  Re: Amendment of Employment Agreement

 

Dear Omar,

 

Reference is made to the Employment Agreement between you (“Employee”) and Frankly Media, LLC (“Company”) dated 10/14/2015 (the “Agreement”). In exchange for consideration, the receipt and sufficiency of which are hereby acknowledged, when signed below, the Agreement will be amended as follows:

 

Salary Adjustment – For the period commencing on August 16, 2016 and ending on December 31, 2016, the salary payable to Employee under the Agreement will be reduced from the annual rate of $225,000.00 to the annual rate of $198,333.00. Commencing on January 1, 2017, Employee’s salary rate will return to the $225,000.00 annual rate. The foregoing reduction in salary will not be factored into the calculation of any bonus for which Employee may be eligible.

 

Except as amended herein, the Agreement will continue in full force and effect.

 

If the foregoing is acceptable, please return a signed copy of this Amendment to us at your earliest convenience, and we will return a fully-executed copy to you.

 

  Sincerely,
     
  Frankly Media LLC
     
  By: /s/ John Wilk
  Name: John F. Wilk
  Title: General Counsel

 

Accepted and Agreed:

 

/s/ Omar Karim  
Omar Karim