Exhibit 10.6
SPECIAL BONUS AGREEMENT
(Ziff Davis Media Inc.)
THIS
SPECIAL BONUS AGREEMENT (this “Agreement”) is made as
of April 1, 2005 (the “Effective Date”), by and
between Ziff Davis Media Inc., a Delaware corporation (the
“Company”), and the individual named on the signature
line below (“Employee”).
NOW,
THEREFORE, the parties hereto agree as follows:
1.
Bonus Amount . On or before the Company’s first
regular payroll date after the Effective Date (the “Payment
Date”), the Company shall pay to Employee a one-time bonus of
$[___] in cash (the “Bonus Amount”). Employee agrees
that the Bonus Amount is stated in gross amounts and shall be
subject to all applicable withholding taxes, other normal payroll
deductions and any other amounts required by law to be
withheld.
2.
Repayment Amount .
(a) In
the event that on or prior to December 31, 2005,
Employee’s employment with the Company or any of its
Subsidiaries is terminated for any reason (including, without
limitation, Employee’s death, Employee’s disability,
Employee’s resignation for any reason, Employee’s
retirement, or Employee’s termination by the Company, with or
without Cause (as defined below)), Employee shall pay to the
Company, within three (3) business days after the Termination
Date (as defined below), the Return Amount (as defined below), by
wire transfer of immediately available funds to an account
designated by the Company; provided that, notwithstanding
anything in this Agreement to the contrary, in the event that
Employee’s employment is terminated with Cause, the Return
Amount shall be equal to the Bonus Amount. The Return Amount shall
be repaid by Employee without reduction, offset, discount or other
mitigation (including without limitation reduction of withholding
taxes).
(b) As
used herein, (i) “Return Amount” means the product
obtained by multiplying (A) the Applicable Percentage (as
defined herein) by (B) the Bonus Amount; (ii)
“Applicable Percentage” means the percentage determined
by dividing (A) the number of days from and including
Employee’s Termination Date through and including
December 31, 2005 by (B) two hundred and seventy-five
(275); and (iii) “Termination Date” means the date that
the Employee’s employment with the Company or any of its
Subsidiaries is terminated for any reason.
3.
Miscellaneous Provisions . The terms and conditions attached
hereto as Appendix A are incorporated by reference as if fully
set forth herein.
IN
WITNESS WHEREOF, the undersigned hereby agree to the foregoing
provisions of this Agreement effective as of the date first written
above
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ZIFF DAVIS
MEDIA INC.
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By:
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Bart W.
Catalane, President
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APPENDIX A
A. Rights
of Participants . Nothing in this Agreement shall confer upon
Employee any right to remain in the employ of the Company or any of
its Subsidiaries, to receive any information regarding the Company
or any of its Subsidiaries or to participate in any employee
benefit program of the Company or any of its
Subsidiaries.
B.
Offset . Employee agrees that, in the event that Employee
does not repay all or any portion of the Return Amount as and when
required by Section 2 hereof, the Company or any of its
Subsidiaries may reduce any payment otherwise required to be made
to Employee by the Company or any of its Subsidiaries by the unpaid
portion of the Return Amount.
C.
Complete Agreement . This Agreement embodies the complete
agreement and understanding among the parties related to the
subject matter hereof and supersedes and preempts any prior
understandings, agreements or representations by or among the
parties, written or oral, which may have related to the subject
matter hereof in any way; provided, however, that this Agreement
shall not supersede, preempt or modify in any respect any agreement
the parties may previously have made or may hereafter make to
arbitrate disputes.
D.
Amendment and Waiver . The provisions of this Agreement may
be amended and waived only by means of a written instrument signed
by each of the Company (by either its Chief Executive Officer or
President) and Employee. No failure to exercise and no delay in
exercising any r