Juno 2013 Annual Report Download - page 230

Exhibit 10.21
EMPLOYMENT AGREEMENT
This Employment Agreement (the Agreementis made and entered into as of the date the last party hereto signs the Agreement but is made
effective as of the Effective Date (as defined below in Section 1(a)) by and between United Online, Inc., a Delaware corporation (the Companywith
principal corporate offices at 21301 Burbank Blvd., Woodland Hills, CA 91367, and Francis Lobo Employee
WHEREAS, effective as of the date hereof, Employee and the Company desire to enter into an employment agreement.
NOW THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
1. Term; Position.
(a) The term of this Agreement will commence on November 5, 2013 (the “ Effective Date”) and extend through the third anniversary of the
Effective Date, unless this Agreement is earlier terminated as provided herein (the Term
(b) Employee will serve as President and Chief Executive Officer of the Company and report to the Board of Directors of the Company.
Employee agrees to devote Employee’s full-time attention, skill and efforts to the performance of Employee’s duties for the Company.
2. Salary and Benefits.
(a) Employee will be paid a salary at an annualized rate of $700,000 payable in successive bi-weekly or other installments in accordance with
the Company’s standard payroll practices for salaried employees. Employee’s rate of salary will be subject to such increases as may be determined from time
to time by the Board of Directors. As used in this Agreement, the term Board of Directorsshall refer to the Board of Directors of the Company or other
governing body or committee to which the authority of the Board of Directors of the Company with respect to executive compensation matters has been
delegated, including (without limitation) the Compensation Committee of the Board of Directors of the Company.
(b) Employee will be eligible to participate in each of the Company’s employee benefit plans that is made generally available either to the
Company’s employees or to the Company’s senior executives and for which Employee satisfies the applicable eligibility requirements. Employee will be
entitled to a minimum of four (4) weeks of paid vacation each year or such greater amount as determined in accordance with the Company’s standard vacation
policy.
(c) The Company will promptly reimburse Employee for all reasonable and necessary business expenses Employee incurs in connection with
the business of the Company and the performance of Employee’s duties hereunder upon Employee’s submission of reasonable and timely documentation of
those expenses. In no event shall any expense be reimbursed later than the end of the calendar year following the calendar year in which that expense is
incurred, and the amounts reimbursed in any one calendar year shall not affect the amounts reimbursable in any other calendar year. Employee’s right to
receive such reimbursements may not be exchanged or liquidated for any other benefit.