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EXHIBIT 10.30
November 9, 2005
Jane Tollinger
c/o iVillage Inc.
500 Seventh Avenue
New York, NY 10018
Dear Jane:
This letter will reflect the terms
of your employment with iVillage effective November 9, 2005
and will constitute an amendment to your employment letter dated
September 15, 2000 (the “September 15th
Agreement”). It will replace in its entirety any amendment to
the September 15th Agreement dated November 10, 2003
(“First Amendment”).
iVillage and its Board of
Directors recognizes your unique contributions to the Company, your
role as a key executive and your recent assumption of additional
responsibilities and believes it to be in the best interests of the
Company to enter into this amendment to assure your continuing
services to the Company including, but not limited to, under
circumstances in which there is a possible, threatened or actual
severance of employment or Change in Control of the Company.
Accordingly, the September 15 th Letter is amended
as follows:
Section (2) of the
September 15 th Agreement as amended is deleted in
its entirety to be replaced with the following: In the event
that iVillage terminates your employment without Cause (as defined
herein) or your resign with Good Reason (as defined herein), you
will receive severance pay equal to your base salary for a period
of one year after the effective date of such termination and in
addition an amount equal to your target bonus for the year in which
your termination becomes effective (“Severance Pay”).
Notwithstanding the foregoing, in the event that you are terminated
without cause or resign for Good Reason (as defined below) within
twelve (12) months of a Change in Control as defined in Paragraph 6
of the September 15 th Agreement, you will be
entitled to severance pay equal to your base salary for a period of
two years after the effective date of such termination and in
addition an amount equal to your target bonus for the year in which
your termination becomes effective. Such severance pay will
be provided at the time and in the manner that you currently
receive your salary and will be
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