Internet Capital Group, Inc. Amended and Restated Non-Management Director Compen


 Exhibit 10.4 
 Internet Capital Group, Inc. 
 Amended and Restated Non-Management Director Compensation Plan

 Effective as of January 1, 2007, the Board of Directors (“Board”) of Internet Capital Group, Inc. (the “Company”) hereby
adopts this Amended and Restated Non-Management Director Compensation Plan (this “Plan”). This Plan amends and restates in its entirety the text of the Company’s Non-Management Director Compensation Plan, dated as of January 1,
2005. The purpose of the Plan is to advance the interests of the Company’s stockholders by providing non-management directors with financial and equity remuneration that allows the Company to attract and retain qualified personnel to serve on
the Company’s Board and to align their interests with those of the stockholders. 
 The Compensation Committee of the Board (the “Compensation
Committee”) shall administer the Plan. The Compensation Committee may delegate such administration as it deems appropriate. 
  

	1.	Annual Board Retainer 

 Each non-management director shall receive
$50,000 per year, payable $12,500 per quarter, during which such non-management director serves as a member of the Board. Quarterly retainer fees shall be payable, in arrears, on the first business day of each calendar quarter. Payments for service
for a portion of a calendar quarter shall be prorated. 
  

	2.	Annual Committee Retainers 

 (a) Each
non-management director who serves as Chairperson of the Audit Committee of the Board (the “Audit Committee”) shall receive $22,500 per year, payable $5,625 per quarter, during which such non-management director serves as Chairperson of
the Audit Committee, and each other member of the Audit Committee shall receive $12,500 per year, payable $3,125 per quarter, during which such non-management director serves as a member of the Audit Committee. 
 (b) Each non-management director who serves as Chairperson of the Compensation Committee shall receive $17,500 per year, payable $4,375 per
quarter, during which such non-management director serves as Chairperson of the Compensation Committee, and each other member of the Compensation Committee shall receive $10,000 per year, payable $2,500 per quarter, during which such non-management
director serves as a member of the Compensation Committee. 
 (c) Each non-management director who serves as Chairperson of the
Nominating and Governance Committee of the Board (the “Nominating and Governance Committee”) shall receive $12,500 per year, payable $3,125 per quarter, during which such non-management director serves as Chairperson of the Nominating and
Governance Committee, and each other member of the Nominating and Governance Committee shall receive $7,500 per year, payable $1,875 per quarter, during which such non-management director serves as a member of the Nominating and Governance
Committee. 






 (d) Quarterly retainer fees shall be payable, in arrears, on the first business day of each
calendar quarter. Payments for service for a portion of a calendar quarter shall be prorated. 
  

	3.	Initial Equity Grant 

 Subject to Section 6 hereof, each
non-management director shall be granted 25,000 Company stock appreciation rights (“SARs”) at the first regularly scheduled Board meeting held where such non-management director serves as a member of the Board. The SARs will have a base
price equal to the fair market value of the Company’s common stock on the date of grant, will vest 25% on each anniversary of the date of grant, provided the non-management director is still a member of the Board, and will have a term of 8
years. 
  

	4.	Annual Service Equity Grants 

 Subject to Section 6 hereof, at
the first regularly scheduled meeting of the Board each calendar year, each non-management director shall be granted 4,500 Deferred Stock Units (“DSUs”) for such non-management director’s service on the Board for the forthcoming
calendar year. Such DSUs will vest on the first anniversary of the date of grant. 
  

	5.	Deferred Stock Unit Program 

 Each non-management director shall be
eligible to participate in the Deferred Stock Unit Program administered by the Compensation Committee. Participation entitles the non-management director to receive, in exchange for deferring receipt of all or a portion of such non-management
director’s cash fees, a stock award, the receipt of which is deferred until the non-management director terminates service. The stock award will provide each non-management director with the deferred right to receive the following number of
shares of common stock of the Company: (a) with respect to fees earned by such non-management director prior to January 1, 2008, a number of shares equal to his or her deferred fees divided by 75% of the fair market value of a share of the
Company’s common stock as of the date on which his or her fees otherwise would have been paid and (b) with respect to fees earned by such non-management director on or following January 1, 2008, a number of shares equal to his or her
deferred fees divided by the fair market value of a share of the Company’s common stock as of the date on which his or her fees otherwise would have been paid. 
  

	6.	Equity Grants 

 Notwithstanding anything to the contrary in this
Plan, all equity grants contemplated by this Plan shall be made on the latest of (a) the date specified above, (b) the date permissible under the Company’s Equity Awards Grant Policy and (c) promptly after the date that the
Company has sufficient shares available for grant pursuant to an equity compensation plan approved by stockholders. Additionally, the number of SARs and DSUs set forth above shall be subject to proportionate adjustment in the event of a stock split,
reverse stock split, combination, reclassification, stock dividend or other similar event. 
  

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	7.	Expenses 

 The Company shall reimburse non-management directors for
reasonable, documented out-of-pocket expenses incurred by them related to their attendance at Company meetings and otherwise incurred by them in service to the Company. 
  

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