Document:

Amendment #2, entered into as of May 8, 2003

  
 HECO Exhibit 10.2(e)

  
 AMENDMENT NO. 2 
 TO 
 POWER PURCHASE AGREEMENT 
 BETWEEN 
 AES HAWAII, INC. 
 AND 
 HAWAIIAN ELECTRIC COMPANY, INC.

  
 This Amendment No. 2 is made and entered into as of the 8th
day of May, 2003, by and between HAWAIIAN ELECTRIC COMPANY, INC. (“HECO”), a Hawaii corporation, and AES HAWAII, INC. (“AES Hawaii”, formerly known as AES Barbers Point, Inc.), a Delaware corporation, with principal offices in
Arlington, Virginia, doing business in Hawaii. 
  
 R E C I T A L S: 
  
 WHEREAS, The AES Corporation (“AES”) owns indirectly 100% of AES Hawaii, which in turn owns the Facility (including the circulating fluidized
bed coal-fired power plant and associated properties) located in HECO’s service territory; 
  
 WHEREAS, AES Barbers Point, Inc. (now known as AES Hawaii as of September 12, 1997) and HECO entered into a power purchase agreement dated March 25, 1988,
which has been amended by Amendment No. 1 dated August 28, 1989, and modified by a letter agreement “Re: Conditional Notice of Acceptance” dated January 15, 1990 as a result of Decision and Order No. 10448 (December 29, 1989) and Decision
and Order No. 10296 (July 28, 1989) issued by the Public Utilities Commission of the State of Hawaii (“PUC”) in PUC Docket No. 6177 (as amended and modified, the “PPA”), under which HECO purchases 180 megawatts of capacity and
associated energy from AES Hawaii through the Term of the PPA; 
  
 WHEREAS, AES Hawaii entered into a Credit and Reimbursement Agreement dated as of March 20, 1990 to arrange secured financing, non-recourse to AES, to construct and operate the Facility; 
  
 WHEREAS, HECO has a security interest in the Facility, which is subordinate
to the security interest of the Facility lenders, securing the performance obligations of AES Hawaii under the PPA; 
  
 WHEREAS, AES Hawaii desires to refinance the Facility on terms that (1) result in the full repayment of AES Hawaii’s existing secured financing, (2)
provide for secured debt in a total principal amount up to $450 million, or up to $525 million if AES Hawaii can use the additional proceeds to improve its cost structure, and sufficiently improve its cash flow, and (3) provide for HECO’s
subordinated security interest in the Facility as described in the PPA and related security documents (such refinancing being hereinafter referred to as the “AES Hawaii Refinancing” and the lenders for the AES Hawaii Refinancing being
hereinafter referred to as the “AES Hawaii Lenders”), and AES 

  

 
Hawaii is in the process of negotiating a commitment for the AES Hawaii Refinancing that is acceptable to AES Hawaii; 
  
 WHEREAS, HECO’s consent is required in connection with the AES Hawaii
Refinancing, as provided in Section 24.12 of the PPA; 
  
 WHEREAS,
AES Hawaii and HECO desire to have HECO’s ratepayers share in the benefit derived from a favorable refinancing in the form of lower rates under the PPA; 
  
 WHEREAS, AES Hawaii acknowledges how important it is for HECO and HECO’s customers for AES Hawaii to maintain nothing but the highest standards of
service quality and technical reliability, and that AES Hawaii has the responsibility and obligation to comply with Good Engineering and Operating Practices (“GEOP”) as outlined in Section 3.2B of the PPA, and AES Hawaii will be subject to
any maintenance reserve requirements to be included in the AES Hawaii Refinancing, which will be established by the AES Hawaii Lenders on market-based terms based on the advice of the AES Hawaii Lenders’ independent engineer, to facilitate the
reliable operation of the Facility consistent with GEOP; 
  
 NOW,
THEREFORE, in consideration of the premises and the mutual agreements and covenants contained herein and for other good and valuable consideration, HECO and AES Hawaii (collectively referred to herein as “the Parties”) hereby agree as
follows: 
  
 1. Amendment to Section 5.1B. Section 5.1B of
the PPA is hereby amended by replacing the section in its entirety to read as follows: 
  

	 	B.	Capacity Charge. 

  
 The Capacity Charge to be paid by HECO to AES-BP during the full Term of this Agreement shall be at a fixed rate equal to $0.045995 per
kilowatthour for each hour in which the capacity is available through May 31, 2003, and equal to $0.044095 per kilowatthour for each hour in which the capacity is available from June 1, 2003, through the end of the Term. 
  
 To determine the available capacity, the Committed Capacity
of the Facility will be multiplied by the hours in the prior month, and then any outage and/or derated hours occurring during the prior month (other than those excluded pursuant to Sections 3.2B(3) and 4.2) times the capacity value of the outage
and/or derating (in kilowatts) will be subtracted. The available capacity in kilowatthours for the month in question shall then be multiplied by the rate to obtain the monthly capacity payment due to AES-BP as illustrated in Exhibit 6. 

 
 2. PUC Approval. This Amendment No. 2, and HECO’s consent to
the AES Hawaii Refinancing, are contingent upon the issuance of a decision and order by the PUC (“PUC Order”) that (a) does not contain terms and conditions deemed to be unacceptable to HECO, and is in a form deemed to be reasonable by
HECO, in its sole discretion, 

  

 2 

 
ordering that this Amendment No. 2 is approved, and finding that HECO’s consent to the AES Hawaii Refinancing is reasonable, and (b) is deemed final by
HECO, in its sole discretion, because it is satisfied that no party to the proceeding in which the PUC Order is issued intends to seek a change in such PUC Order through motion or appeal. Promptly after issuance of the PUC Order, HECO shall provide
to AES Hawaii a copy of the PUC Order and written confirmation of whether the PUC Order meets the requirements of the preceding sentence. HECO shall endeavor to obtain such PUC Order in a form meeting the requirements of this paragraph by June 17,
2003, or such later date as the Parties may agree to as provided in paragraph 4 of this Amendment No. 2, but HECO shall not have any liability if such PUC Order is not obtained for any reason. 
  
 3. Effective Date. This Amendment No. 2 shall be effective upon
execution; provided that paragraph 1 of this Amendment No. 2 shall not be effective until the Refinancing Closing, and the change in the Capacity Charge made pursuant to such paragraph shall be effective retroactive to June 1, 2003 if the
Refinancing Closing occurs after such date. “Refinancing Closing” shall mean the initial closing of the AES Hawaii Refinancing in which the AES Hawaii Lenders commit to lend, and AES Hawaii draws down, any amount that is sufficient to
repay in full AES Hawaii’s existing secured financing. 
  
 4.
Timing of PUC Order. If the PUC Order meeting the requirements of paragraph 2 of this Amendment No. 2 is not obtained on or before June 17, 2003, or such later date as the Parties may agree to by a subsequent written agreement, then either
Party, by written notice delivered within ten (10) days of such date and before the Refinancing Closing, may terminate this Amendment No. 2, in which case this Amendment No. 2 shall be null and void, and the Parties shall be free of all obligations
under this Amendment No. 2 and shall pursue no remedies against one another arising out of or related to this Amendment No. 2. 
  
 5. Timing of Refinancing. If the Refinancing Closing has not occurred on or before the Refinancing Closing Deadline, then either Party may
terminate this Amendment No. 2, in which case this Amendment No. 2 shall be null and void, and the Parties shall be free of all obligations under this Amendment No. 2 and shall pursue no remedies against one another arising out of or related to this
Amendment No. 2. The Refinancing Closing Deadline shall be June 30, 2003; provided that such deadline shall be extended until August 31, 2003 if, prior to July 1, 2003, AES Hawaii provides HECO with a written notice, signed by an officer of AES
Hawaii, stating that AES Hawaii is pursuing in good faith the AES Hawaii Refinancing and reasonably believes that such refinancing could be completed (in a timely manner) by August 31, 2003, but neither AES Hawaii nor the officer signing such notice
shall have any liability if such refinancing is not completed. 
  
 6. Other Terms Not Changed. The PPA, as expressly amended by this Amendment No. 2, shall remain in full force and effect. In the event that a conflict arises between the PPA and this Amendment No. 2, this Amendment No. 2 shall
prevail, but the 

  

 3 

 
respective documents shall be interpreted to be in harmony with each other where possible. 
  
 7. Defined Terms. Capitalized terms used but not defined in this Amendment No. 2 shall have the respective meanings
ascribed to such terms in the PPA. 
  
 8. Governing Law.
This Amendment No. 2 shall be governed by and construed in accordance with the law of the State of Hawaii, excluding any choice of law rules or principles that would result in the application of the laws of a different jurisdiction. 
  
 9. Counterparts. This Amendment No. 2 may be executed in counterparts
and all counterparts so executed shall constitute one Amendment No. 2, binding on both Parties, notwithstanding that both Parties may not be signatories to the original or the same counterpart. 
  
 IN WITNESS WHEREOF, HECO and AES Hawaii have caused this Amendment No. 2 to
be executed by their respective duly authorized officers as of the date first above written. 
  

			
	HAWAIIAN ELECTRIC COMPANY, INC.
		
	By:	 	/s/ Thomas L. Joaquin
	 	 	

	 	 	Thomas L. Joaquin
	Its:	 	Senior Vice President

  

			
		
	By:	 	/s/ Richard A. von Gnechten
	 	 	

	 	 	Richard A. von Gnechten
	Its:	 	Financial Vice President

  

			
	AES HAWAII, INC.
		
	By:	 	/s/ Patrick G. Murphy
	 	 	

	 	 	Patrick G. Murphy
	Its:	 	President and General Manager

  

 4Employment Agreement

 Exhibit 10.17 
  
 EMPLOYMENT AGREEMENT 
  
 This Employment Agreement (the “Agreement”) is made and entered into effective as of November 19, 2003 (the “Effective Date”), by and
between Victor Melfi (“Employee”) and InfoSpace, Inc. (the “Company”). 
  
 In consideration of the mutual covenants herein contained, the employment of Employee by the Company, and other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, the parties
agree as follows: 
  
 1. Certain Definitions. 
  
 (a) “Cause”. For these purposes, “Cause” means (i)
any act of criminal or fraudulent misconduct taken by Employee in connection with Employee’s responsibilities as an employee of the Company which is intended to result in Employee’s personal enrichment, (ii) Employee’s conviction of a
felony, (iii) breach of a fiduciary duty owed by Employee to the Company or its stockholders, or (iv) continued material violations by Employee of Employee’s employment obligations to the Company after Employee has been given adequate written
notice of such noncompliance and Employee has had a minimum of sixty (60) days to cure such noncompliance. 
  
 (b) “Change of Control”. For purposes of this Agreement, a “Change of Control” is defined as the occurrence of any of the
following: 
  
 (i) Any “person” (as such
term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended) is or becomes the “beneficial owner” (as defined in Rule 13d-3 under said Act), directly or indirectly, of securities of the Company representing
50% or more of the total voting power represented by the Company’s then outstanding voting securities; 
  
 (ii) Any merger or consolidation of the Company with any other corporation that has been approved by the stockholders of the Company,
other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the
surviving entity) more than fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation, or the stockholders of the Company
approve a plan of complete liquidation of the Company; or 
  
 (iii) Any sale or disposition by the Company, in one transaction or a series of related transactions, of all or substantially all the Company’s assets. 
  
 (c) “Disability”. For purposes of this Agreement,
“Disability” is defined as Employee’s inability to perform his employment duties to the Company hereunder for 180 days (in the aggregate) in any one-year period as determined by an independent physician selected by the Company.

  
 (d) “Good Reason”. For purposes of this
Agreement, “Good Reason” is defined as the occurrence of any of the following without Employee’s express prior written consent: (i) a significant change of or to Employee’s duties, position, responsibilities, title or reporting
relationship (other than pursuant to a promotion); (ii) a substantial reduction, unless such reduction is nondiscriminatory as to Employee, of the facilities and perquisites available to Employee; (iii) a reduction by the Company of Employee’s
base salary or a reduction or other material change to Employee’s incentive bonus inconsistent with the provisions of Section 5(b) below; (iv) a material reduction by the Company in the kind or level of employee benefits to which Employee is
entitled; (v) the relocation of Employee to a facility or a business location more than twenty-five (25) miles from the location of the Company’s headquarters as of the Effective Date; (vi) any purported termination of Employee other than for
Cause; or (vii) a material breach of this Agreement by the Company. 
  
 (e) “Release”. For purposes of this Agreement, “Release” is defined as a release of claims in a form substantially equivalent to that traditionally used by the Company in the ordinary course in connection with

 separating employees; provided, however, that notwithstanding the foregoing, such Release is not intended to and
will not waive Employee’s rights: (i) to indemnification pursuant to any applicable provision of the Company’s Bylaws or Certificate of Incorporation, as amended, pursuant to any written indemnification agreement between Employee and the
Company, or pursuant to applicable law; (ii) to vested benefits or payments specifically to be provided to Employee under this Agreement or any Company employee benefit plans or policies; (iii) respecting any claims which Employee may have solely by
virtue of Employee’s status as a shareholder of the Company; or (iv) respecting any claims by Employee for defamation, libel or slander. 
  
 2. Duties and Scope of Employment. The Company shall employ Employee in the position of Chief Strategy Officer. Employee will render such business and professional
services in the performance of Employee’s duties, consistent with Employee’s position within the Company, as shall reasonably be assigned to Employee at any time and from time to time by the Company’s Chief Executive Officer or the
Board of Directors. 
  
 3. Obligations. While employed hereunder,
Employee will perform his/her duties faithfully and to the best of Employee’s ability. Employee agrees not to actively engage in any other employment, occupation or consulting activity for any direct or indirect remuneration without the prior
approval of the Chief Executive Officer; provided, however, that notwithstanding anything to the contrary in the Company’s standard form of Employee Non-Disclosure, Invention Release and Non-Competition Agreement attached hereto as
Exhibit A, Employee may engage in non-competitive business or charitable activities so long as such activities do not materially interfere with Employee’s responsibilities to the Company. 
  
 4. At-Will Employment. Subject to the terms and conditions hereof including without
limitation Sections 6 and 7, the Company and the Employee acknowledge that the Employee’s employment is and shall continue to be terminable at-will, either party able to terminate the employment relationship with or without Cause.

  
 5. Compensation and Benefits. 
  
 (a) Base Compensation. The Company shall pay Employee as compensation
for Employee’s services hereunder an annual base salary of $250,000. Such salary shall be subject to applicable tax withholding and shall be paid periodically in accordance with normal Company payroll practices. The base salary shall be subject
to annual review by the CEO and the Compensation Committee of the Board but in no event shall be less than $250,000. 
  
 (b) Incentive Bonus. In addition to the base salary, Employee may receive a performance bonus during each year of employment with the Company under
this Agreement equal to an amount to be determined by the CEO and the Compensation Committee of the Board. The amount of such annual performance bonus shall not be less than 50% of Employee’s then current base salary for the applicable fiscal
year. Such performance bonus, if any, shall be based upon performance objectives to be mutually determined by the CEO and Employee. 
  
 (c) Benefits. Employee shall be eligible to participate in the employee benefit plans which are available or which become available to other
employees of the Company, with the adoption or maintenance of such plans to be in the discretion of the Company, subject in each case to the generally applicable terms and conditions of the plan or program in question and to the determination of any
committee administering such plan or program. Such benefits shall include participation in the Company’s group medical, life, disability, and retirement plans, and any supplemental plans available to senior executives of the Company from time
to time. The Company reserves the right to change or terminate its employee benefit plans and programs at any time. 
  
 (d) Expenses. The Company will reimburse Employee for reasonable business expenses incurred by Employee in the furtherance of or in connection with
the performance of Employee’s duties hereunder, in accordance with the Company’s expense reimbursement policy as in effect from time to time. 
  
 (e) Stock Options. As of the Effective Date, Employee will be granted a non-qualified stock option (the “Effective Date Option”) to
purchase 150,000 shares of the Company’s common stock at an exercise price equal to the per share equivalent of the fair market value of the Company’s common stock on the date of grant as determined by the closing price of the
Company’s common stock on NASDAQ NMS on the date of grant, or, if there is no such reported price on the date of grant, the closing price on the trading day on NASDAQ NMS first preceding the date of grant. Subject to the accelerated vesting
provisions set forth herein, the Effective Date Option shall vest as to twenty-five percent (25%) of the shares subject thereto on the first anniversary of the grant date and shall vest ratably in equal six (6) month installments (18,750 each six
month period) thereafter over the three (3) 
  

 2 

 year period commencing on the first anniversary of the grant date subject to Employee’s continued full-time
employment by the Company on the relevant vesting dates. The Effective Date Option shall be subject to the terms and conditions of the Company’s Restated 1996 Stock Incentive Plan (the “1996 Plan”) and the stock option agreement
between Employee and the Company; provided, however, that notwithstanding the foregoing, in the event of a conflict between the terms and conditions of the Effective Date Option and this Agreement, the terms and conditions of this Agreement
shall prevail. 
  
 6. Termination of Employment. 
  
 (a) Termination by Company for Cause; Voluntary Termination. In the
event Employee’s employment with the Company is terminated for Cause by the Company or voluntarily by Employee (other than for Good Reason) (i) the Company shall pay Employee any unpaid base salary due for periods prior to the date of
termination of employment (“Termination Date”); (ii) the Company shall pay Employee all of Employee’s accrued and unused “paid time off” (“PTO”), if any, through the Termination Date; and (iii) following submission
of proper expense reports by Employee, the Company shall reimburse Employee for all expenses reasonably and necessarily incurred by Employee in connection with the business of the Company through the Termination Date. These payments shall be made
promptly upon termination and within the period of time mandated by applicable law. Employee shall retain all stock options that are vested as of the Termination Date and such stock options may be exercised in accordance with the provisions of the
applicable stock option plan(s) and the respective stock option agreement(s). 
  
 (b) Termination by Company without Cause. The Company may terminate Employee’s employment without Cause upon thirty (30) days written notice to Employee. If Employee’s employment with the Company is
terminated by the Company without Cause, and Employee signs and does not revoke a Release, then Employee shall be entitled to the following: 
  
 (i) a one-time “lump sum” payment of severance pay (less applicable withholding taxes) in an amount equal to Employee’s
annual base salary, as then in effect, to be paid in accordance with the Company’s normal payroll policies no later than the Company’s first regular payroll date following the Termination Date; 
  
 (ii) a one-time “lump sum” payment of severance pay
(less applicable withholding taxes) in an amount equal to 100% of Employee’s annual bonus rate, as then in effect, to be paid in accordance with the Company’s normal payroll policies no later than the Company’s first regular payroll
date following the Termination Date; and 
  
 (iii)
the same level of health (i.e., medical, vision and dental) coverage and benefits as in effect for the Employee on the day immediately preceding the Termination Date; provided, however, that (A) the Employee constitutes a qualified
beneficiary, as defined in Section 4980B(g)(1) of the Internal Revenue Code of 1986, as amended; and (B) Employee elects continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”),
within the time period prescribed pursuant to COBRA. The Company shall continue to provide Employee with Company-paid health coverage until the earlier of (y) the date Employee is no longer eligible to receive continuation coverage pursuant to
COBRA, or (z) twelve (12) months from the Termination Date. 
  
 (iv) Fifty percent (50%) of the Employee’s then unvested stock options shall immediately vest and become exercisable and Employee shall have twelve (12) months following the Termination Date to exercise such
vested shares; provided, however, that in the event of a conflict between the terms and conditions of any such stock option agreement and this Agreement, the terms and conditions of this Agreement shall prevail unless the conflicting
provision(s) in any such stock option agreement shall be more favorable to Employee in which case the provision(s) more favorable to Employee shall govern; provided further, however, that notwithstanding the foregoing in no event shall the
extended twelve (12) month exercise period specified in this Section 6(b)(iv) modify or extend the Expiration Date of any stock option as set forth in such stock option agreement. 
  
 (c) Termination by Employee for Good Reason. If Employee terminates employment with the Company for Good Reason
within 90 days of a Good Reason event, or within twelve (12) months if the Good Reason event is a Change of Control, and Employee signs and does not revoke a Release, then Employee shall be entitled to the same benefits as set forth in Sections
6(b)(i) through 6(b)(iv) above. 
  

 3 

 (d) Death. In the event of Employee’s death while employed hereunder, Employee’s
beneficiary (or such other person(s) specified by will or the laws of descent and distribution) will receive (i) continuing payments of severance pay (less applicable withholding taxes) at a rate equal to Employee’s base salary for a period of
ninety (90) days from Employee’s death, to be paid periodically in accordance with the Company’s normal payroll policies, (ii) Company-paid COBRA benefits as specified in Section 6(b)(iii) above for ninety (90) days from Employee’s
death, and (iii) have the right to exercise Employee’s stock options which are vested as of the date of Employee’s death for one (1) year following Employee’s death. 
  
 (e) Disability. In the event of Employee’s termination of employment with the Company due to Disability,
Employee shall be entitled to continuing payments of base salary (less applicable withholding taxes) until Employee is eligible for long-term disability payments under the Company’s group disability policy; provided, however, that in no
event shall such period of continued base salary exceed 180 days following termination. 
  
 7. Change of Control Benefits. If Employee (i) is terminated other than for Cause by the Company within ninety (90) days prior to a Change of Control or as a result of or in connection with a Change of Control or (ii) is terminated
other than for Cause by the Company (or its successor corporation) or resigns for Good Reason within twelve (12) months following a Change of Control, and provided that Employee signs and does not revoke a Release, then Employee shall be entitled to
the same benefits as set forth in Sections 6(b)(i) through 6(b)(iv) above. 
  
 Notwithstanding the foregoing, in the event that the benefits provided for in this Section 7 (i) constitute “parachute payments” within the meaning of Section 280G of the Code, and (ii) would be subject to the excise tax imposed
by Section 4999 of the Code (the “Excise Tax”), then Employee’s benefits otherwise payable under this Section 7 shall be reduced by the minimum extent necessary such that no portion of such benefits would be subject to the Excise Tax.
Unless the Company and Employee otherwise agree in writing, any determination required under this Section 7 shall be made in writing by the Company’s independent public accountants (the “Accountants”), whose determination shall be
conclusive and binding upon Employee and the Company for all purposes. For purposes of making the calculations required by this Section 7, the Accountants may make reasonable assumptions and approximations concerning applicable taxes and may rely on
reasonable, good faith interpretations concerning the application of Section 280G and 4999 of the Code. The Company and Employee shall furnish to the Accountants such information and documents as the Accountants may reasonably request in order to
make a determination under this Section 7. The Company shall bear all costs the Accountants may reasonably incur in connection with any calculations contemplated by this Section 7. 
  
 8. No Impediment to Agreement. Employee hereby represents to the Company that Employee is not, as of the date hereof, and will not be
during Employee’s employment with the Company, employed under contract, oral or written, by any other person, firm or entity, and is not and will not be bound by the provisions of any restrictive covenant or confidentiality agreement which
would constitute an impediment to, or restriction upon, Employee’s ability to enter this Agreement and to perform the duties of Employee’s employment. 
  

9. Confidentiality, Non-Competition and Non-Solicitation. Employee agrees, as a condition to Employee’s employment with the Company, to execute the
Company’s standard form of Employee Non-Disclosure, Invention Release and Non-Competition Agreement attached hereto as Exhibit A. 
  
 10. Arbitration. Employee agrees, as a condition to Employee’s employment with the Company, to execute the Company’s standard form Arbitration Agreement,
as amended, attached hereto as Exhibit B. 
  
 11. Successors; Personal
Services. The services and duties to be performed by the Employee hereunder are personal and may not be assigned or delegated. This Agreement shall be binding upon and inure to the benefit of the Company and its successors and assigns, and the
Employee and Employee’s heirs and representatives. 
  
 12. Notices.
Notices and all other communications contemplated by this Agreement shall be in writing and shall be deemed to have been duly given when personally delivered or when mailed by U.S. registered or certified mail, return receipt requested and postage
prepaid. In the case of the Employee, mailed notices shall be addressed to Employee at the home address, which Employee most recently communicated to the Company in writing, with a copy to Employee’s counsel as designated by Employee whose
address is provided below. In the case of the Company, mailed notices shall be addressed to its corporate headquarters, and all notices shall be directed to the attention of its General Counsel. 
  

 4 

 13. Miscellaneous Provisions. 
  
 (a) Waiver. No provision of this Agreement shall be modified, waived or discharged unless the modification, waiver or
discharge is agreed to in writing and signed by the Employee and by an authorized officer of the Company (other than the Employee). No waiver by either party of any breach of, or of compliance with, any condition or provision of this Agreement by
the other party shall be considered a waiver of any other condition or provision or of the same condition or provision at another time. 
  
 (b) Entire Agreement. This Agreement (including exhibits) shall supersede and replace all prior agreements or understandings relating to the
subject matter hereof, and no agreements, representations or understandings (whether oral or written or whether express or implied) which are not expressly set forth in this Agreement have been made or entered into by either party with respect to
the relevant matter hereof. 
  
 (c) Choice of Law. The
validity, interpretation, construction and performance of this Agreement shall be governed by the internal substantive laws of the State of Washington without reference to any choice of law rules. 
  
 (d) Severability. The invalidity or unenforceability of any provision
or provisions of this Agreement shall not affect the validity or enforceability of any other provision hereof, which shall remain in full force and effect. 
  
 (e) No Assignment of Benefits. The rights of any person to payments or benefits under this Agreement shall not be made subject to option or
assignment, either by voluntary or involuntary assignment or by operation of law, in respect of bankruptcy, garnishment, attachment or other creditor’s process, and any action in violation of this subsection shall be void. 
  
 (f) No Duty to Mitigate. Employee shall not be required to mitigate
the amount of any payment contemplated by this Agreement, nor shall any such payment be reduced by any earnings that Employee may receive from any other source. 
  

(g) Employment Taxes. All payments made pursuant to this Agreement will be subject to withholding of all applicable income, health insurance and
employment taxes. 
  
 (h) Assignment by Company. The
Company may assign its rights under this Agreement to an affiliate (as defined under the Securities Exchange Act of 1934), and an affiliate may assign its rights under this Agreement to another affiliate of the Company or to the Company. In the case
of any such assignment, the term “Company” when used in a section of this Agreement shall mean the corporation that actually employs the Employee. 
  
 (i) Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together will
constitute one and the same instrument. 
  
 IN WITNESS WHEREOF, each of the
parties has executed this Agreement, in the case of the Company by its duly authorized officer, as of the day and year first above written. 
  
  

									
	 COMPANY:
	 	 	 	 INFOSPACE, INC.

				
	 	 	 	 	 	 	  
  
 /s/ James F. Voelker

	 	 	 	 	 	 	 By: James F. Voelker
 Chief Executive
Officer

  
  

									
	 EMPLOYEE:
	 	 	 	 /s/ Victor Melfi

	 	 	 	 	Victor Melfi

  
  
  

 5

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