Unassociated Document


    TERMINATION
      AGREEMENT

    


    This
      TERMINATION
      AGREEMENT (this
      “Agreement”) is
      entered into this 29th day of September, 2008, by and between MICHAEL S. EGAN
      (“Executive”)
      and
      theglobe.com, inc., a Delaware corporation (the “Company”).
      Each
      party to this Agreement is hereinafter referred to as a “Party”
and
      collectively as the “Parties”.

    


    WITNESSETH:

    


    WHEREAS,
      the
      Executive and the Company are parties to that certain Employment Agreement,
      dated August 1, 2003 (the “Employment
      Agreement”);
      

    


    WHEREAS,
      contemporaneous with this Agreement the Company has closed on that Purchase
      Agreement dated June 10, 2008, by and among the Company, Tralliance Corporation
      and The Registry Management Company, LLC (the “Purchase
      Agreement”),
      pursuant to which substantially all of the assets of the Company were sold;
      and

     

    WHEREAS,
      the
      Parties desire to mutually agree to the termination of the Employment Agreement
      on the terms and conditions contained herein.

    


    NOW,
      THEREFORE,
      in
      consideration of the premises and of the mutual covenants and the conditions
      hereinafter set forth, the Parties agree as follows:

    


    
      	
              1.

            	
              Termination.
                Effective as of the date hereof, the Employment Agreement is hereby
                terminated by mutual agreement of the parties. Except as provided
                in this
                Agreement, the Company’s sole remaining obligation to the Executive under
                the Employment Agreement shall be to reimburse Executive pursuant
                to
                Section 5 of the Employment Agreement for reasonable expenses incurred,
                but not paid prior to the date
                hereof.

            


    

    


    
      	
              2.

            	
              Indemnification.
                Notwithstanding the termination of the Employment Agreement, the
                Company’s
                obligations under Section 10 of the Employment Agreement shall survive
                such termination. 

            


    

    


    
      	
              3.

            	
              Further
                Assurances.
                The parties agree to fully cooperate in good faith with one another,
                including, but not limited to, taking all further actions reasonably
                requested by the other party to fully effect the intent and purpose
                of
                this Agreement.

            


    

    


    
      	
              4.

            	
              Counterparts.
                This Agreement may be executed in one or more counterparts, each
                of which
                shall for all purposes be deemed to be an original, and all of which
                shall
                constitute the same instrument.

            


    

    


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    IN
      WITNESS WHEREOF,
      each of
      the Parties has executed and delivered this Agreement on the date first above
      written.

    


    
      	
              EXECUTIVE

            
	 
	 /s/
              MICHAEL
              S. EGAN 
	
              MICHAEL
                S. EGAN

            
	 
	
              COMPANY:

            
	 
	
              theglobe.com,
                inc.

            
	 
	
              By:

            	 /s/Edward
              A. Cespedes
	
              Name:
                

            	
              Edward
                A. Cespedes

            
	
              Title:

            	
              President