Rosetta Stone 2011 Annual Report Download - page 126
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Exhibit 10.18
EXECUTIVE EMPLOYMENT AGREEMENT
THIS EXECUTIVE EMPLOYMENT AGREEMENT (this "Agreement") is made as of December 22, 2011, with an effective
date of October 5, 2011, between Rosetta Stone Ltd., a Delaware corporation (together with its successors and assigns, the
"Company"), and Judy Verses ("Executive").
Recitals
A. The Company and Executive desire to enter into an agreement pursuant to which the Company will employ
Executive as its President, Global Institutions subject to the terms and conditions of this Agreement.
Agreement
NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and promises contained herein, the parties
agree as follows:
1. Employment.
The Company hereby engages Executive to serve as the President, Global Institutions of the Company, and Executive agrees
to serve the Company, during the Service Term (as defined in Section 4 below) in the capacities, and subject to the terms and
conditions, set forth in this Agreement.
2. Duties.
During the Service Term, Executive, as President, Global Institutions of the Company, shall have all the duties and
responsibilities customarily rendered by President, Sales of companies of similar size and nature and such other duties and
responsibilities as may be delegated from time to time by the Board or the Chief Executive Officer of the Company ("Chief Executive
Officer") in their sole discretion. Executive will report to the Chief Executive Officer.
Executive will devote her best efforts and substantially all of her business time and attention (except for vacation periods and
periods of illness or other incapacity) to the business of the Company and its Affiliates. With the prior consent of the Chief Executive
Officer, Executive will be permitted to serve on the boards of other companies so long as such service does not unreasonably interfere
with her duties to the Company.
3. Salary, Bonus and Benefits.
The Board shall make all decisions related to Executive's base salary and the payment of bonuses, if any. Executive's Annual
Base Salary and other compensation will be reviewed by the Board at least annually.
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