Severance Agreement - eDiets.com Inc. and David J. Schofield
eDiets.com(TM)
December 19, 2000
Mr. David J. Schofield
10453 Rio Lindo
Delray Beach, FL 33446
Dear Dave:
This will confirm that we have mutually agreed to a termination of your
association with the Company on the following terms:
(1) Your Employment Agreement shall terminate as of the date hereof;
(2) The Company shall fully honor the terms of Section 5(b) of the
Agreement and in this regard you will receive your lump sum severance payment of
$150,000 within thirty (30) days of the date hereof and 83,333 of your stock
options shall become vested as of the date hereof and remain exercisable for
their five-year term;
(3) You agree to and hereby resign from the Company's Board of
Directors effective as of the date hereof.
Please sign below to acknowledge your agreement to the foregoing.
Very truly yours,
eDiets. com, Inc.
/s/
David R. Humble
Chairman of the Board
AGREED TO:
/s/
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David J. Schofield