Document:

Amended and Restated Employment Agreement

 Exhibit 10.5 
 AMENDED AND RESTATED EMPLOYMENT AGREEMENT 
 This Amended and Restated Employment Agreement
(“Agreement”) is dated March 26, 2008, and is between SendTec, Inc., a Delaware corporation (the “Company”), and Paul Soltoff (the “Executive”). 
 Recitals 
 SendTec Acquisition
Corp., a Delaware corporation, an affiliate of the Company and the Executive entered into an Employment Agreement dated October 28, 2005 (the “Original Agreement”). The Company is engaged in the development, sales and support
of online and offline marketing services (the “Business”). The Company is restructuring its debt and capital structure. In connection with this restructuring (the “Recapitalization”), the Company and the Executive
have agreed to amend and restate the Original Agreement. It is intended that this Agreement shall become immediately and automatically effective upon consummation of the transactions contemplated in connection with the Recapitalization (the
“Closing”). 
 Terms 
 The parties hereto therefore agree as follows: 
 1. Employment. 
 a. Subject to the terms hereof, the Company agrees to employ the Executive as its Chairman of the Board of Directors and Chief Executive Officer, and the
Executive agrees to be so employed by the Company, in accordance with the terms and conditions of this Agreement. The Executive shall devote all of his business time, attention, and energies exclusively to the business of the Company and shall not,
while employed by the Company, be engaged in any other business activity, whether or not such business activity is pursued for gain, profit or other pecuniary advantage; provided, however, the Executive shall not be prevented from (i) investing
savings or other assets in such form or manner as shall not require any services on the part of the Executive, nor, if approved in advance in writing by the Company, from (ii) serving as a member of the Board of Directors of other entities that
do not compete with the Company, (iii) serving as a member of the Board of Directors of any entity that the Executive currently serves on as of the date of this Agreement, or (iv) participating in professional, civic and governmental
organizations provided that the activities referenced in clauses (i), (ii), (iii) and (iv) above do not, individually or in the aggregate, (A) interfere with the performance of Executive’s duties hereunder or (B) violate or
conflict with the provisions of Sections 11 and 12 hereof. 
 b. The Executive affirms and represents that he is under no obligation to any
former employer or other party that is in any way inconsistent with, or that imposes any restriction upon, the Executive’s acceptance of employment hereunder with the Company, the employment of the Executive by the Company, or the
Executive’s undertakings under this Agreement. 

 2. Term of this Agreement. Unless earlier terminated as provided in this Agreement, the
term of this Agreement shall commence on the date hereof and shall continue until the fifth anniversary hereof and thereafter may be renewed for additional one-year terms (each a “Term”) unless written notice is given by either
party hereto to the other party of his or its desire not to renew this Agreement at least 90 days prior to the end of the then current Term. 
 3. Position and Duties. During the Term, the Executive shall, subject to the terms hereof, serve as Chairman of the Board of Directors and Chief Executive Officer of the Company. In so doing, the Executive shall faithfully
perform such duties and responsibilities ordinarily associated with his position as the Board of Directors of the Company shall from time to time determine and shall be subject to periodic performance evaluations and reviews by the Board of
Directors. The Executive shall perform his duties principally at the offices of the Company located in St. Petersburg, Florida, or such other places as the Board of Directors may reasonably determine, with such travel to such other locations as the
Board of Directors may reasonably prescribe. 
 4. Compensation. 
 a. Salary. As compensation for the performance by the Executive of the services to be performed by him hereunder, the Executive shall be paid an
annual salary of FOUR HUNDRED THOUSAND DOLLARS ($400,000), such amount, together with any increases thereto as may be determined from time to time by the Board of Directors in its sole discretion, but subject to the provisions of this Agreement,
being hereinafter referred to as “Salary”). Any Salary payable hereunder shall be paid in regular intervals in accordance with the Company’s payroll practices in effect from time to time. 
 b. Bonus. The Company shall pay to the Executive such incentive compensation and bonuses, if any, (i) as the Board of Directors in its
absolute discretion may determine to award the Executive, and (ii) to which the Executive may become entitled pursuant to the terms of any incentive compensation or bonus program, plan or agreement from time to time in effect and applicable to
the Executive. 
 5. Stock Options. The Executive shall be eligible to participate in the Company’s stock option plans to
the extent approved by the Board of Directors, pursuant to the terms and conditions of such plans. As partial consideration for entering into this Agreement, the Company’s Board of Directors will, in its discretion, grant to the Executive
options to acquire shares of the Company’s Common Stock in such amount and at such exercise price and on such vesting and other terms as the Board of Directors determine to be reasonable and commensurate with the Executive’s
responsibilities and performance. Any such Options shall immediately be: (a) vested in the event of a resignation by the Executive with Good Reason, or a termination of the Executive by the Company without Good Cause; or (b) forfeited in
the event of a resignation by the Executive without Good Reason, or a termination of the Executive by the Company for Good Cause. Upon termination of the Executive’s employment with the Company he must exercise any vested Options within six
(6) months of such termination date, and if not so exercised, such Options shall expire. To the extent that the Executive is legally required to do so, the Executive will be liable to pay any taxes due, which arise on the exercise of these
Options. 
  

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 6. Fringe Benefits. The Company shall provide the Executive with the following fringe
benefits as part of his compensation: 
 a. Insurance. The Executive and his dependents shall be provided with all group insurance
benefits, including disability insurance, as provided to other senior executives of the Company in accordance with the provisions of any such insurance policies as the same may be in effect from time to time. 
 b. Vacation, Sick Days and Personal Days. The Executive shall be entitled to four weeks paid vacation per year and holidays in accordance with
Company policy. Vacation shall be taken at times when reasonably appropriate given the Executive’s responsibilities and consistent with the needs of the Company. At termination, the Executive shall be entitled to compensation for all accrued
but unused vacation days. In addition, the Company shall provide the Executive with such paid sick leave and personal days as are provided from time to time to other Company senior executives; provided, however, that in the event of termination of
employment, the Executive shall not be entitled to any compensation for accrued, unused personal days and sick days. 
 c. Reimbursement
of Business Expenses. The Executive’s reasonable and necessary out-of-pocket business expenses incurred by the Executive in the performance of his duties hereunder shall be reimbursed in accordance with Company policy. 
 d. 401(k) Plan. The Executive shall be eligible to participate in the Company’s 401(k) plan as available to other senior executives of the
Company in accordance with its terms and federal law. 
 e. Other Company Benefits. During the Term, the Executive shall be entitled
to participate in each Company employee benefit plan to the same extent that such employee benefit plan is generally available to other senior executives of the Company. 
 7. Indemnity. The Executive shall be entitled to indemnification in all instances in which the Executive is acting within the scope of his authority to the fullest extent permitted by the Company’s
certificate of incorporation and bylaws, and applicable law, from and against any damages or liabilities, including reasonable attorney’s fees; provided, however, that the Executive shall not be entitled to indemnification for damages or
liabilities which result from or arise out of the Executive’s willful misconduct or gross negligence. 
 8. Directors and Officers
Insurance. During the Term, the Company agrees to maintain directors and officers’ insurance in an amount of at least $3,000,000. 
 9. Termination of Agreement. 
 a. Resignation by Executive. The Executive may elect to terminate this
Agreement, and resign employment, with or without Good Reason, as that term is defined below, by delivering sixty (60) days advance written notice of resignation to the Company. Upon receipt of such notice, the Company may require the Executive
to work the sixty (60) days of the notice period, or at its option, may waive some or all of the notice, and release the Executive prior to the notice date. In the event of a resignation without Good Reason, the Executive shall 

  

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not be entitled to any payments, salary continuation, severance or other benefits (including without limitation any Severance Payment), except for:
(i) his salary to the extent accrued and unpaid through the Executive’s termination date; (ii) payment for unused vacation days to the extent accrued through the Executive’s termination date; and (iii) any reasonable
business expenses incurred prior to termination, but not reimbursed as of the date of termination, that are due and owing pursuant to the Company’s business expense reimbursement policy; and (iv) health insurance continuation benefits
under COBRA, at his own election and sole expense. In the event of a resignation with Good Reason, the Executive shall be entitled to all of the compensation and benefits paid in connection with a resignation without Good Reason, and he shall
receive, in addition, Severance Payments, as defined below. 
 b. Termination of Agreement by the Company for Good Cause. The Company
may, immediately and unilaterally, terminate the Executive’s employment at any time during the Term for Good Cause, as defined below, through written notice to the Executive. In the event of a termination for Good Cause, the Executive shall not
be entitled to any payments, salary continuation, severance or other benefits, except for: (i) his salary to the extent accrued and unpaid through the Executive’s termination date; (ii) payment for unused vacation days to the extent
accrued through the Executive’s termination date; and (iii) any reasonable business expenses incurred prior to termination, but not reimbursed as of the date of termination, that are due and owing pursuant to the Company’s business
expense reimbursement policy; and (iv) health insurance continuation benefits under COBRA, at his own election and sole expense. The Executive’s right to exercise a vested employee option shall terminate on the date of his termination for
Good Cause by the Company or his resignation without Good Reason. 
 c. Termination of Agreement by the Company for Reasons Other than
Good Cause. The Company may terminate the Executive’s employment under this Agreement at any time during the Term without Good Cause by giving ten (10) days advance written notice to the Executive of the Company’s election to
terminate. During such ten (10) day period, the Executive agrees to be available on a full-time basis for the benefit of the Company to assist the Company in making the transition to a successor, among other things. In the event of a
termination without Good Cause, the Executive shall be entitled to all of the compensation and benefits paid in connection with a termination for Good Cause, and he shall receive, in addition, Severance Payments, as defined below. 
 d. Termination by Death of the Executive. This Agreement shall be terminated by the death of the Executive as of the date of death. In the event
of the death of the Executive, the Company’s obligations hereunder shall automatically cease and terminate; provided, however, that within thirty (30) days of the Executive’s death, the Company shall pay to the Executive’s heirs
or personal representatives his accrued but unpaid salary, and compensation for any unused accrued vacation, and any reasonable business expense reimbursement due pursuant to Company policy. 
 e. Definition of Good Cause. The term “Good Cause,” as used in this Agreement shall mean: 
 (1) The Executive’s inability to perform his duties hereunder due to physical or mental Disability (as defined below); 
  

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 (2) The Executive’s indictment for, conviction of, or the entering of a plea of nolo contender with
respect to, a felony; 
 (3) The Executive’s abuse of illegal controlled substances; 
 (4) The Executive’s acts of moral turpitude or fraud, his embezzlement of funds or other assets of the Companies (as hereinafter defined) or his
acceptance of a bribe or kickback; 
 (5) The failure, refusal or neglect of the Executive to render services to the Company in accordance
with his obligations under this Agreement, or gross negligence of the Executive in the performance of such duties, which is not cured within seven days after written notice of same to the Executive identifying such failure, refusal or neglect of
services in question; 
 (6) Failure of the Executive to obey the reasonable and lawful orders and policies of the Board of Directors that
are consistent with the provisions of this Agreement, which is not cured within seven days after written notice of same to the Executive identifying such failure; or 
 (7) A material breach of any provision of this Agreement by the Executive, which is not cured within seven days after written notice of same to the Executive identifying such breach. 
 f. Definition of Good Reason. The term “Good Reason,” as used in this Agreement, shall mean: 
 (1) A material breach of this Agreement by the Company, which is not cured within seven days after written notice of same to the Company identifying such
breach. 
 (2) Requiring the Executive to be principally based at any office or location more than 50 miles from the office to which he was
primarily assigned at the time of execution of this Agreement; 
 (3) A termination of the Executive’s employment by Executive for any
reason at all, or no reason, within six months of a change of control of the Company (a “Change of Control”). For the purposes of this Agreement, a Change of Control shall be deemed to have occurred on the earliest of the following:
the date of (i) a merger or consolidation of the Company with or into another unaffiliated corporation, in which the Company is not the continuing or surviving corporation or pursuant to which any common shares of the Company would be converted
into cash, securities, or other property of another corporation, other than a merger of the Company in which holders of Company common shares immediately prior to the merger have the same proportionate ownership of common shares of the surviving
corporation immediately after the merger, or (ii) a sale or other disposition of substantially all the assets of the Company. 
 (4) A
material change in the Business of the Company, without the Executive’s concurrence; or 
  

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 (5) Any material adverse change in the Executive’s position or duties and responsibilities,
including any failure to elect Executive as Chief Executive Officer of the Company. 
 g. Definition of Disability. The term
“Disability,” as used in this Agreement, shall mean the Executive’s inability to perform his duties for a period of 90 days or more, consecutive or non-consecutive, in any twelve-month period, due to mental or physical
disability or incapacity, as determined by a physician selected by the Company and reasonably acceptable to the Executive or to the Executive’s legal representative, such agreement as to acceptability not to be unreasonably withheld or delayed.
Any refusal by the Executive to submit to a medical examination for the purpose of determining the existence of a Disability shall constitute conclusive evidence of the Executive’s Disability. 
 10. Severance. If (a) the Company terminates this Agreement pursuant to Section 9(c) without Good Cause, or (b) if the
Executive resigns pursuant to Section 9(a) for Good Reason, then the Company shall, promptly upon any such event pay to the Executive an amount equal to two (2) times his then current Salary under this Agreement (collectively, the
“Severance Payment”). The Severance Payment shall not include any other compensation for fringe benefits which would have been received by or granted to the Executive had this Agreement not so terminated. Severance Payment shall be
treated as Salary for tax purposes, and taxes will be withheld from the Severance Payment just as if it were Salary. 
 11. Restrictive
Covenants. 
 a. During the term of the Executive’s employment with the Company and for the two-year period following such
employment, Executive shall not, directly or indirectly: 
 (1) Solicit, hire, retain, induce or attempt to solicit, hire, or retain or
induce any employee or consultant of any of the Companies to leave the employ or lessen the extent of his, her or its relationship with the Companies or in any way interfere with the relationship between any of the Companies and any employee or
consultant thereof; 
 (2) call on or contact any supplier or customer of the Companies or any agent of the Companies for the purpose of
soliciting, diverting or taking away or lessening any relationship with any such supplier, customer or agent from the Companies; 
 (3)
hire, engage, send any work to, place orders with, or in any manner be associated or engage in any activity with any supplier, contractor, subcontractor, distributor, customer, investor or business relation of any of the Companies if such action by
him have an adverse effect on the business, assets, financial condition or prospects of any of the Companies, or interfere with the relationship between any such person or entity of any of the Companies; 
 (4) engage or participate in any business or line of business that competes with the Business conducted by the Companies or under consideration by the
Companies or perform, provide or offer any products and/or services of a kind or type developed, produced, marketed, sold, offered, provided, performed or otherwise exploited by the Companies or engage in business with, or provide advice or services
to, any person or entity which directly or indirectly competes with any of the Companies in the Business; provided, 

  

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however, that in the event the Company has committed a material breach of this Agreement by failing to pay Salary due under the Agreement, or by failing to
pay Severance Payments under the Agreement, and where such breach has not been cured by the Company within two weeks after written notice of same to the Company, then the Executive shall be relieved of the obligations imposed by this
Section 11. 
 (5) engage in business with, or provide advice or services to, any person or entity which directly or indirectly
competes with the Business or any other line of business of the Companies. 
 Notwithstanding the foregoing, the Executive shall be permitted to engage in
the activities permitted by Section 1(a)(i), (ii), (iii) and (iv) hereof. 
 b. In connection with the foregoing provisions of
this Section 11, the Executive represents that his experience, capabilities and circumstances are such that such provisions will not prevent him from earning a livelihood. The Executive further agrees that the limitations set forth in this
Section 11 (including, without limitation, time limitations) constitute the “legitimate business interests” of the Companies within the meaning of Florida Statutes 542.335 and are hereby conclusively agreed to be legally sufficient to
support such covenants. Such “legitimate business interests” include but are not necessarily limited to trade secrets; valuable confidential business or professional information that does not legally qualify as trade secrets; substantial
relationships with specific prospective or existing customers or clients; customer or client good will associated with an ongoing business, by way of trade name, trademark, service mark or “trade dress”, in a specific geographic location
and a specific marketing or trade area; and extraordinary or specialized training. It is further acknowledged and agreed that all such restrictive covenants set forth above are reasonably necessary to protect the legitimate business interests of the
Companies and are not overbroad or unreasonable. It is acknowledged and agreed that the Company is specifically relying upon the foregoing statements in entering into this Employment Agreement. It is understood that the covenants made by the
Executive in this Section 11 (and in Section 12 hereof) shall survive the expiration or termination of this Agreement. Notwithstanding anything to the contrary herein, the Executive shall not be bound by the terms of this Section 11
in the event that he is entitled to a Severance Payment hereunder and the Company breaches its obligation to make such payment. 
 12.
Confidential Information. The Executive hereby covenants, agrees and acknowledges as follows: 
 a. The Executive has and will have
access to and will participate in the development of or be acquainted with confidential or proprietary information and trade secrets related to the business of the Company and any present and future subsidiaries or affiliates of the Company
(collectively with the Company, the “Companies”), including but not limited to (i) customer lists; the identity, lists or descriptions of any new customers, referral sources or organizations; financial statements; cost reports
or other financial information; contract proposals or bidding information; business plans; training and operations methods and manuals; personnel records; software programs; email databases; reports and correspondence; and management systems
policies or procedures, including related forms and manuals; (ii) information pertaining to future developments such as future marketing or acquisition plans or ideas, and potential new 

  

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business and (iii) all other tangible and intangible property that are used in the business and operations of the Companies. The information and trade
secrets relating to the business of the Companies described hereinabove in this paragraph (a) are hereinafter referred to collectively as the “Confidential Information,” provided that the term Confidential Information shall not
include any information (x) that is or becomes generally publicly available (other than as a result of violation of this Agreement by the Executive or the violation of an agreement of like tenor by any other person or entity) or (y) that
the Executive receives on a nonconfidential basis from a source (other than the Companies or their representatives) that is not known by her to be bound by an obligation of secrecy or confidentiality to any of the Companies. 
 b. The Executive shall not disclose, use or make known for his or another’s benefit any Confidential Information or use such Confidential
Information in any way, except as is in the best interests of the Companies in the performance of the Executive’s duties under this Agreement. The Executive may disclose Confidential Information when required by a third party and applicable law
or judicial process, but only after providing (i) immediate notice to the Company at any third party’s request for such information, which notice shall include the Executive’s intent with respect to such request, and
(ii) sufficient opportunity for the Company to challenge or limit the scope of the disclosure on behalf of the Companies, the Executive or both. 
 c. Upon termination of his employment with the Company for any reason, the Executive shall forthwith return to the Company all Confidential Information in whatever form maintained (including, without limitation,
computer discs and other electronic media). 
 13. Remedies. The Executive acknowledges that a remedy at law for any breach or
threatened breach of the provisions of Sections 11 or 12 hereof would be inadequate, that the Company would be irreparably injured by such breach and that, therefore, the Company shall be entitled to injunctive relief in addition to any other
available rights and remedies in case of any such breach or threatened breach, without the necessity of posting a bond or proving damages. 
 14. Severability. In the event that any court of competent jurisdiction shall finally hold that any provision of Section 11 or 12 hereof is void or constitutes an unreasonable restriction against the Executive,
Section 11 or 12, as the case may be, shall not be rendered void, but shall apply with respect to such extent as such court may judicially determine constitutes a reasonable restriction under the circumstances, and, in such connection, the
parties hereto authorize any such court to modify or sever any such provision, including without limitation, any such provision relating to duration and geographical area, to the extent deemed necessary or appropriate by such court. If any part of
this Agreement other than Section 11 or 12 is held by a court of competent jurisdiction to be invalid, illegal or incapable of being enforced in whole or in part by reason of any rule of law or public policy, such part shall be deemed to be
severed from the remainder of this Agreement for the purpose only of the particular legal proceedings in question and all other covenants and provisions of this Agreement shall in every other respect continue in full force and effect and no covenant
or provision shall be deemed dependent upon any other covenant or provision. 
 15. Developments. The Executive shall promptly
disclose to the Company all processes, trademarks, inventions, improvements, discoveries and other information related to 

  

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the Business of the Company (collectively “Developments”) conceived, developed or acquired by him alone or with others during the Term,
whether or not conceived during regular working hours, or through the use of Company time, material or otherwise. All such Developments shall be the sole and exclusive property of the Company, and upon request the Executive shall deliver to the
Company all drawings, sketches, models and other data and records relating to such Developments. In the event any such Developments shall be deemed by the Company to be patentable, the Executive shall, at the expense of the Company, assist the
Company in obtaining a patent or patents thereon and execute all documents and do all other things necessary or proper to obtain letters patent and to vest the Company with full title thereto. The Executive represents and covenants that as of the
date hereof there are no Developments the Executive conceived prior to execution of this Agreement, which are not owned by the Company and which relate in any way to the Business. 
 16. Notices. All notices required to be given or delivered by this Agreement shall be in writing and shall be deemed to have been given
when (i) delivered personally, (ii) sent by nationally recognized express courier service (charges prepaid) (iii) mailed by certified or registered mail, return receipt requested and postage prepaid or (iv) sent by facsimile to
the parties at their respective addresses and/or facsimile numbers set forth below or to such other address or number as either party shall have designated in writing to the other party hereto. The date of the giving of such notices delivered
personally or by courier shall be the date of their delivery and the date of giving of such notices by certified or registered mail shall be the date that is five days after the posting of the mail: 
 If to the Company: 
 SendTec, Inc.

 877 Executive Center Drive 
 Suite 300 
 St. Petersburg, Florida 33702 
 Fax (727) 576-4864 
 Attn. CEO 
 If to the Executive: 
 Paul Soltoff

 820 Sand Pine Drive N.E. 
 St.
Petersburg, Florida 33703 
 17. Waiver and Amendment. Failure to insist upon strict compliance with any of the terms,
covenants or conditions hereof shall not operate or be construed as a waiver of any subsequent term, covenant or provision nor shall any waiver or relinquishment of any right or power hereunder at any one or more times be deemed a waiver or
relinquishment of such right or power at any other time or times. This Agreement may be amended only by a writing signed by the Executive and by a duly authorized representative of the Company. 
 18. Binding Effect. This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, legal
representatives and assigns. Neither this Agreement nor any right or interest hereunder shall be assignable by the Executive or his 

  

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beneficiaries or legal representation without the prior written consent of the Company; provided, however, that nothing in this Section 18 shall
preclude the Executive from designating a beneficiary to receive any benefit payable upon his death or incapacity. 
 19. Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Florida, except that body of law relating to choice of laws. In addition, any legal suit, action or proceeding arising out of or relating to
this Employment Agreement shall be instituted exclusively in the federal or state courts in the state of Florida, Broward County, and each party waives any objection to the venue of any such suit, action or proceeding and the right to assert that
such forum is not a convenient forum, and irrevocably consents to the jurisdiction of such federal or state courts in the state of Florida, Broward County, in any such suit, action or proceeding. 
 20. Entire Agreement. This Agreement amends, restates, replaces and supersedes in its entirety the Original Agreement. This Agreement
represents the entire agreement between the parties hereto and supersedes any prior agreements, contracts, understandings or arrangements, whether oral or written, regarding the subject matter hereof. 
 21. Survival of Provisions. Neither the termination of this Agreement, nor the Executive’s employment hereunder, shall terminate or
affect in any manner any provision of this Agreement that is intended by its terms to survive such termination, including without limitation, the provisions of Sections 7, 11 and 12. 
 22. Attorney’s Fees. In any action or proceeding, legal or equitable, brought under or pursuant to this Agreement, the prevailing
party shall be entitled to seek all costs and expenses incurred by such party, including reasonable attorneys’ fees and expenses. 
 23. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, and together shall constitute one and the same instrument. 
  

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 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the date first
written above. 
  

			
	COMPANY:
	
	SENDTEC, INC.
		
	By:	 	  

	Name:	 	Paul Soltoff
	Title:	 	Chief Executive Officer
	
	EXECUTIVE:
	
	  

	Paul Soltoff

  

 11Agreement with Michael Tasooji dated 3/16/2007, and confirmed on 3/26/2007

 Exhibit 10.92 
 [GAP INC. LOGO] 
 Michael Tasooji 
 March 16, 2007

 Dear Michael: 
 In recognition of your contributions as a
member of the Executive Leadership Team, we are pleased to be able to offer you the compensation arrangements described below. Note that reference to the “Company” means Gap Inc., and its subsidiaries, divisions, and successors.

 Stock Award. The Compensation and Management Development Committee of the Board of Directors approved a stock award grant to you on
February 2, 2007 (“date of grant”) covering 40,000 shares of Gap Inc. common stock, subject to the provisions of the Company’s stock plan. Stock awards are in the form of units that are paid in Gap Inc. stock upon vesting. The
award will vest as shown in the schedule below, provided you are employed with Gap Inc. on the vesting date. 
 Stock Award of 20,000 shares
vesting two years from date of grant 
 Stock Award of 20,000 shares vesting three years from date of grant 
 Termination/Severance. In the event that your employment is involuntarily terminated by the Company for reasons other than For Cause (as defined below) prior to
February 13, 2009, the Company will provide you the following in exchange for your release of any claims you may have against the Company and its officers and directors: 
 (1) Your then current salary, at regular pay cycle intervals, for eighteen months (the “severance period”). Payments will cease if you accept
other employment or professional relationship with a competitor of the Company (defined as another company primarily engaged in the apparel design or apparel retail business or any retailer with apparel sales in excess of $500 million annually), or
if you breach your remaining obligations to the Company (e.g., your duty to protect confidential information, agreement not to solicit Company employees). Payments will be reduced by any compensation you receive during the severance period from
other employment or professional relationship with a non-competitor. 
 (2) During the period in which you are receiving payments under
paragraph (1) above, if you elect COBRA coverage, the equivalent of the amount of the Company’s then current contribution to the cost of health benefits for you and your eligible dependents, if any. 
 (3) During the period in which you are receiving payments under paragraph (1) above, reimbursement for your costs to maintain the financial
counseling program the Company provides to senior executives. 

 Michael Tasooji 
 March 16, 2007 
 Page 2 
  

 (4) The vesting of stock options and stock awards that otherwise would not have vested as of your
termination date, pursuant to the following schedule: (a) if you are terminated for reasons other than For Cause from February 13, 2007 to August 12, 2007, the stock options and stock awards that would have vested from the date of
termination up to and including February 12, 2009; and (b) if you are terminated for reasons other than For Cause from August 13, 2007 up to and including February 12, 2009, the stock options and stock awards that would have
vested from the date of termination up to and including the date 18 months from your termination date. This provision is not applicable to any stock options or stock awards that have performance-based vesting. 
 The payments above are taxable income to you and are subject to tax withholding. Payments will be made over the applicable time period following your termination in
accordance with section 409A of the Internal Revenue Code. 
 The term “For Cause” shall mean a good faith determination by the Company that your
employment be terminated for any of the following reasons: (1) indictment, conviction or admission of any crimes involving theft, fraud or moral turpitude; (2) engaging in gross neglect of duties, including willfully failing or
refusing to implement or follow direction of the Company; or (3) breaching Gap Inc.’s policies and procedures, including but not limited to the Code of Business Conduct. 
 At any time, if you voluntarily resign your employment from Gap Inc. or your employment is terminated For Cause, you will receive no compensation, payment or benefits after your last day of employment. If your
employment terminates for any reason, you will not be entitled to any payments, benefits or compensation other than as provided in this letter. 
 Recoupment Policy. On February 14, 2007, the Board of Directors (“Board”) adopted a recoupment policy as described in this paragraph. You hereby agree and understand that subject to the discretion and approval of the
Board, the Company will, to the extent permitted by governing law, in all appropriate cases as determined by the Board, require reimbursement and/or cancellation of any bonus or other incentive compensation, including stock-based compensation,
awarded to an executive officer or other member of the Company’s executive leadership team after April 1, 2007 where all of the following factors are present: (a) the award was predicated upon the achievement of certain financial
results that were subsequently the subject of a restatement, (b) in the Board’s view, the executive engaged in fraud or intentional misconduct that was a substantial contributing cause to the need for the restatement, and (c) a lower
award would have been made to the executive based upon the restated financial results. In each such instance, the Company will seek to recover the individual executive’s entire annual bonus or award for the relevant period, plus a reasonable
rate of interest. 
 At-Will Employment. Nothing is this letter modifies the Company’s at-will employment policy. 
 Abide by Company Policies. You agree to abide by all applicable Company policies including, but not limited to, policies contained in the Code of Business
Conduct. You also agree to abide by the attached Confidentiality and Non-Solicitation Agreement during and after your employment with Gap Inc. 

 Michael Tasooji 
 March 16, 2007 
 Page 3 
  

 Michael, your continued leadership at Gap Inc. is critical to our success, and I look forward to working with you.

  

	
	Yours sincerely,
	
	 /s/ Robert J. Fisher

	Robert J. Fisher
	CEO and Chairman of the Board, Gap Inc.
	
	Confirmed this 26th day of March, 2007
	
	 /s/ Michael Tasooji

	Michael Tasooji

 CONFIDENTIALITY & NON-SOLICITATION AGREEMENT 
 I, Michael Tasooji, acknowledge that the services I will perform for Gap Inc. are unique and extraordinary and that I will be in a relationship of
confidence and trust with Gap Inc. As a result, before or during my employment with Gap Inc., I will acquire “Confidential Information” that is (1) owned or controlled by Gap Inc., (2) in the possession of Gap Inc. and belonging
to third parties, and/or (3) conceived, originated, discovered or developed in whole or in part by me. Confidential Information includes trade secrets and other confidential or proprietary business, technical, strategic, marketing, legal,
personnel or financial information, whether or not my work product, in written, graphic, oral or other tangible or intangible forms, including, but not limited to: strategic plans; unannounced product information, specifications or designs; sales
and pricing practices; computer programs; drawings, diagrams, models; vendor or customer names; employee lists or organizational charts; company telephone directories; individual employee compensation and benefits information; business or marketing
plans; studies, analyses, projections and reports; communication with attorneys; and software systems and processes. Any information that is not readily available to the public shall be considered to be a trade secret and confidential and
proprietary. 
 I agree that I will keep the Confidential Information in strictest confidence and trust, and will not, without the prior
written consent of Gap Inc.’s General Counsel, directly or indirectly use or disclose to any person or entity any Confidential Information, before, during or after my employment, except as is necessary in the ordinary course of performing my
duties while employed by Gap Inc. 
 I agree that in the event my employment is terminated for any reason, I will immediately deliver to Gap
Inc. all company property, including all documents, materials or property of any description, or any reproduction of such materials, containing or pertaining to any Confidential Information. 
 In order to protect the Confidential Information, I agree that so long as I am employed by Gap Inc., and for a period of one year thereafter, I will not,
directly or indirectly, on behalf of me, any other person or entity, solicit, call upon, recruit, or attempt to solicit any of Gap Inc.’s employees, consultants, or vendors. I further agree that I will not directly or indirectly, on behalf of
me, any other person or entity, interfere or attempt to interfere with Gap Inc.’s relationship with any person who at any time was an employee, consultant, customer or vendor or otherwise has or had a business relationship with Gap Inc.

 I agree now, and after my employment with the Company terminates not to, directly or indirectly, disparage the Company in any way or to
make negative, derogatory or untrue statements about the Company, its business activities, or any of its directors, managers, officers, employees, affiliates, agents or representatives to any person or entity. 
 ACKNOWLEDGED AND AGREED TO THIS 26th DAY OF MARCH, 2007. 
  

	
	 /s/ Michael Tasooji

	Michael Tasooji

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