JQuery content editable div and text box on submit not sending POST

PHP Snippet 1:

$(document).ready(function() {
    $("#save").on("click", function(event) {
        var formData = {text: $("#editor").html(), name: $("#name").val()};
        event.preventDefault();
        $.ajax({
            url: 'freewordsave.php',
            type:'POST',
            data: formData,
            success: function(msg)
            {
                alert('Your file was saved!');
            }
        });
    });
});