Employment Agreement Extension between Reis Services, LLC and William Sander (June 30, 2010)
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Summary
Reis Services, LLC and William Sander have agreed to extend the term of their existing employment agreement, originally set to expire on June 30, 2010. This extension allows the agreement to remain in effect until the earlier of July 31, 2010 or the signing of a new employment agreement. All other terms remain unchanged, except that guaranteed bonus obligations end as of June 30, 2010. Both parties have acknowledged and accepted these terms.
EX-10.4 5 c03186exv10w4.htm EXHIBIT 10.4 Exhibit 10.4
Exhibit 10.4
Employment Agreement Extension
Effective Date: June 30, 2010
Agreement made among Reis Services, LLC (Employer) and William Sander (Employee) to extend a certain Employment Agreement, dated as of April 23, 2007, as amended by that certain Memo regarding Revision to Bonus Payout Schedule from Jonathan Garfield, dated December 14, 2007, and the Employment Agreement Extension, dated as of May 30, 2010, by and between the parties (collectively, the Employment Agreement).
Revised Term
The term of the Employment Agreement expires on June 30, 2010. The parties are in the process of negotiating a new agreement (the New Employment Agreement) relating to Employees employment with Employer (although no such agreement is assured). In the interim, the parties wish to continue and extend the Employment Agreement. Therefore, Employer and Employee agree that the Employment Agreement shall be binding for an additional period of time, beginning with the expiration of the current term on June 30, 2010 and continuing through the earlier of July 31, 2010 or a date on which a New Employment Agreement is executed.
Revised Conditions
This extension shall be on the same terms and conditions as provided in the Employment Agreement and as if set forth in this Agreement. For the avoidance of doubt all Guaranteed Bonus obligations under the Employment Agreement (except for payment of any accrued but unpaid amounts) shall terminate as of June 30, 2010.
Acknowledgement and Agreement
We have carefully reviewed this Agreement and acknowledge, agree to and accept all of its terms and conditions. We are executing this Agreement as of the Effective Date above.
Employer: | Employee: | |||||||||
REIS SERVICES, LLC | ||||||||||
By: | /s/ Lloyd Lynford | /s/ William Sander | ||||||||
Name: | Lloyd Lynford | William Sander | ||||||||
Title: | President & Chief Executive Officer |