Amendment No. 1 to Employment Agreement By and Between EDGAR Online, Inc. and Marc Strausberg
Amendment
No. 1 to
By
and Between
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Online, Inc. and
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This
Amendment No. 1 to the Employment Agreement is dated as of January 31, 2005 and
amends that certain Employment Agreement by and between ▇▇▇▇▇ Online, Inc. and
▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ 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.
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| Date: January 31, 2005 | By: | /s/ ▇▇▇▇ ▇. ▇▇▇▇▇ |
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| COO and CFO | ||
| By: | /s/ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ | |
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