EXHIBIT 10.15
ARBITRON INC.
EXECUTIVE EMPLOYMENT AGREEMENT
PARTIES
ARBITRON INC. (A DELAWARE CORPORATION)
142 W. 57TH STREET
NEW YORK, NY 10019-3300
AND
STEPHEN B. MORRIS
("EXECUTIVE")
DATE: APRIL 1, 2001
RECITALS
A. Arbitron wishes to obtain the services of Executive for the duration
of this Agreement, and Executive wishes to provide his services for
such period.
B. Arbitron desires reasonable protection of Arbitron's Confidential
Information (as defined below).
C. Arbitron desires assurance that Executive will not compete with
Arbitron, engage in recruitment of Arbitron's employees or make
disparaging statements about Arbitron after termination of
employment, and Executive is willing to refrain from such
competition, recruitment and disparagement.
D. Executive desires to be assured of a minimum Base Salary (as defined
below) from Arbitron for Executive's services for the term of this
Agreement (unless terminated earlier pursuant to the terms of this
Agreement).
E. It is expressly recognized by the parties that Executive's acceptance
of, and continuance in, Executive's position with Arbitron and
agreement to be bound by the terms of this Agreement represents a
substantial commitment to Arbitron in terms of Executive's personal
and professional career and a foregoing of present and future career
options by Executive, for all of which Arbitron receives substantial
value.
F. The parties recognize that a Change of Control (as defined below) may
result in material alteration or diminishment of Executive's position
and responsibilities and substantially
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frustrate the purpose of Executive's commitment to Arbitron and
forebearance of career options.
G. The parties recognize that in light of th