Effective Date: May 30, 2010
Agreement made among Reis Services, LLC, Reis, Inc. (collectively, the “Employers”) and Jonathan Garfield (“Employee”) to extend a certain Employment Agreement, dated as of October 11, 2006, as amended by the First Amendment to Employment Agreement, dated as of May 17, 2007, and that certain Memo regarding Revision to Bonus Payout Schedule from Bill Sander, dated December 14, 2007, by and between the parties (collectively, the “Employment Agreement”).
Revised Term
The term of the Employment Agreement expires on May 30, 2010. The parties are in the process of negotiating a new agreement (the “New Employment Agreement”) relating to Employee’s employment with Employer (although no such agreement is assured). In the interim, the parties wish to continue and extend the Employment Agreement. Therefore, Employers and Employee agree that the Employment Agreement shall be binding for an additional period of time, beginning with the expiration of the original term on May 30, 2010 and continuing through the earlier of June 30, 2010 or a date on which a New Employment Agreement is executed.
Revised Conditions
This extension shall be on the same terms and conditions as provided in the Employment Agreement and as if set forth in this Agreement, with the exception of:
