Employment Agreement between internet.com LLC and Christopher S. Cardell
This agreement outlines the terms of employment for Christopher S. Cardell as President and Chief Operating Officer of internet.com LLC. Cardell will receive a base salary of $175,000 with a minimum 4% annual increase, annual stock option grants, and standard company benefits including 401k, medical, dental, and disability insurance. If terminated, he is entitled to 12 months of severance, provided he does not disclose confidential or disparaging information about the company. The agreement is effective upon signing and Cardell will report to the Chairman and CEO.
Exhibit 10.1
| The E-Business and Internet Technology Network | November 24, 1 998 |
| To: | Chris Cardell | |
| From: | Alan Meckler | |
| Subject: | Offer of Employment |
The following is our offer of employment with internet.com LLC (“the Company”):
1. Title: President and Chief Operating Officer
2. Annual base salary: $175,000
3. Annual salary increases: A minimum 4% increase
4. Annual stock option grants: 5,000 share range
5. In the event of your termination, you will be entitled to 12 months of severance to be paid in monthly installments. This severance will be conditional on your not divulging any information, including disparaging comments about the Company, its personnel, financial or other proprietary information.
6. Vacation: Four weeks paid vacation
7. Other benefits:
| • | 401k participation |
| • | major medical insurance coverage |
| • | major dental insurance coverage |
| • | disability insurance etc, commensurate with other Company personnel |
8. Immediate supervisor: Chairman and Chief Executive Officer
All terms of this agreement are effective upon the date of your signing
Very truly yours,
| /s/ Alan M. Meckler |
| Alan M. Meckler |
| Chairman and Chief Executive Officer internet.com LLC |
| Agreed to by: |
| /s/ Christopher S. Cardell |
| Christopher S. Cardell |
| November 24, 1998 |
