Employment Agreement - MarketWatch.com Inc. and William Bishop
This Employment Agreement (the 'Agreement'), is entered into as of October 2, 2000 (the 'Commencement Date'), by MarketWatch.com, Inc. (the 'Company') and William Bishop (the 'Executive').
- Term of Employment: The term of employment of Executive by the Company hereunder shall commence on the Commencement Date and shall continue thereafter on the same terms and conditions for a period of three years unless earlier terminated pursuant to Sections 6 or 7 (such term being hereinafter referred to as the 'Employment Period'). The Employment Period shall be extended automatically without further action by either party as of the third anniversary of the Commencement Date for a period of one year, unless prior to such date the Company or the Executive shall notify the other in writing of its or his intention not to renew the Agreement, in which case the Agreement shall terminate at the end of the original term. If the Employment Period is extended, it shall thereafter be referred to as the Employment Period.
- Title; Duties: The Executive shall serve as Executive Vice President, Business Development of the Company. Executive shall perform those duties and responsibilities inherent in such position including responsibilities as the Chief Executive Officer shall assign. The Executive agrees to devote his full time and best efforts, attention and energies to the business and interests of the Company. Executive shall serve the Company faithfully and to the best of his ability in such capacities, devoting his full business time, attention, knowledge, energy and skills to such employment; provided, however, the Company acknowledges that Executive may serve on the board(s) of directors or board(s) of advisors of other companies with the prior approval of the Company's Board of Directors (the 'Board'), which approval shall not be unreasonably withheld. In addition, this paragraph shall not be interpreted to prohibit Executive from acquiring or holding publicly traded equity securities of an entity so long as such securities constitute no more than 5% of the outstanding equity securities of such entity. Executive shall travel as reasonably required in connection with the performance of his duties hereunder.
- Compensation: The Company shall pay and Executive shall accept as full consideration for his services hereunder, compensation consisting of the following: