Document:

Assignment and Assumption Agreement

 Exhibit 10.26 
 ASSIGNMENT AND ASSUMPTION AGREEMENT 
 THIS ASSIGNMENT AND ASSUMPTION AGREEMENT (the
“Agreement”) is entered into as of December 31, 2008 (the “Effective Date”), by and between Local Insight Regatta Holdings, Inc., a Delaware corporation (“Assignor”), and Local Insight Media
Holdings, Inc., a Delaware corporation (“Assignee”). Assignor and Assignee are each individually referred to herein as a “Party,” and collectively referred to as the “Parties.” 
 RECITALS 
 WHEREAS, Assignor desires
to assign to Assignee, and Assignee desires to assume, all Assignor’s rights and obligations under that certain Employment Agreement (the “Employment Agreement”) dated as of January 2, 2007, by and between Assignor, as
assignee of Local Insight Media LLC, and Marilyn B. Neal; 
 NOW THEREFORE, for good and valuable consideration, the sufficiency of which is
hereby acknowledged, the Parties agree as follows: 
  

	1.	Assignment and Assumption. 

 1.1 Assignor hereby
assigns, transfers and sets over to Assignee, and Assignee hereby assumes, all Assignor’s right, title, interest, powers, privileges, remedies, duties, liabilities and obligations under the Employment Agreement. As of the Effective Date,
Assignee shall become entitled to all such right, title, interest, powers, privileges and remedies of Assignor and subject to all such duties, liabilities and obligations of Assignor, in each case as if Assignee were the original party to the
Employment Agreement. 
 1.2 As of the Effective Date, the term “Company,” as used in the Employment Agreement, shall refer to
Assignee, and Assignee will be bound by and perform Assignor’s obligations under the Employment Agreement. 
  

	2.	Miscellaneous. 

 2.1 This Agreement shall be
governed by and construed and interpreted in accordance with the substantive laws of the State of Colorado, without regard to conflicts of law provisions. 
 2.2. This Agreement constitutes the entire agreement among the Parties with respect to the subject matter hereof. This Agreement shall not be altered, amended, modified or otherwise changed by any oral communications
of any kind or character, or by any written communication, unless signed by a duly authorized representative of each of the Parties. 
 [Signature Page Follows] 

 IN WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed as of the date
first written above. 
  

			
	LOCAL INSIGHT REGATTA HOLDINGS, INC.
		
	By:	 	/s/ JOHN S. FISCHER
	Name:	 	John S. Fischer
	Title:	 	General Counsel and Secretary
	
	LOCAL INSIGHT MEDIA, L.P.
		
	By:	 	/s/ JOHN S. FISCHER
	Name:	 	John S. Fischer
	Title:	 	General Counsel and Secretary

  

 2Amendment to Employment Agreement

 Exhibit 10.27 
 AMENDMENT TO 
 EMPLOYMENT AGREEMENT 
 This Amendment to Employment Agreement (this “Amendment”) is entered into effective as of December 31, 2008, by and between Marilyn
B. Neal (the “Executive”) and Local Insight Media Holdings, Inc., a Delaware corporation (the “Company,” which term includes any subsidiary, affiliate or successor of Local Insight Media Holdings, Inc. that may
employ Executive from time to time). 
 RECITALS 
 WHEREAS, the Company, as assignee of Local Insight Media LLC and Local Insight Regatta Holdings, Inc., and the Executive are parties to an Employment Agreement dated as of January 2, 2007 (the
“Agreement”); and 
 WHEREAS, the Company and the Executive desire to amend the Agreement as set forth herein, including to
comply with the requirements for nonqualified deferred compensation arrangements under Section 409A of the Internal Revenue Code of 1986, as amended; 
 NOW, THEREFORE, in consideration of the foregoing and of the respective covenants and agreements set forth below, the parties hereto agree as follows: 
 1. Section 2.2 of the Agreement, Term, is hereby amended by adding the following sentence to the end of such Section: 
 This Agreement shall automatically be extended for successive one (1)-year periods unless either party gives notice of non-extension to the other party no
later than ninety (90) days prior to the expiration of the then-current term. 
 2. Section 3.2 of the Agreement, Bonuses,
is hereby amended by adding the following sentence to the end of such Section: 
 Effective on and after December 31, 2008, the amount,
time and form of payment of any bonus amount awarded to the Executive hereunder shall be determined under the terms of the Executive Bonus Plan for the applicable fiscal year. 
 3. This Amendment shall enter into effect as of the date first set forth above. Except to the extent that this Amendment expressly modifies the
Agreement, the Agreement shall remain in full force and effect. 
 4. This Amendment may be executed in counterparts, all of which will be
considered one and the same agreement and will become effective when counterparts have been signed by each of the parties and delivered to the other party, it being understood that each party need not sign the same counterpart. Delivery of an
executed signature page of this Amendment by facsimile transmission or electronic photocopy (i.e., a “pdf”) shall be effective as delivery of a manually executed counterpart hereof. 
 [Signature Page Follows] 

 IN WITNESS WHEREOF, the parties have executed this Amendment to Employment Agreement on the dates set
forth below, effective as of the date first set forth above. 
  

			
	LOCAL INSIGHT MEDIA HOLDINGS, INC.
		
	By:	 	/s/ Scott A. Pomeroy
		 	Scott A. Pomeroy
		 	President and Chief Executive Officer
		
	Date:	 	December 23, 2008
	
	EXECUTIVE
		
	By:	 	/s/ Marilyn B. Neal
		 	Marilyn B. Neal
		
	Date:	 	December 31, 2008

  

 2Summary Employment Term Sheet

 Exhibit 10.28 
 Local Insight Media, LLC (“LIM”) 
 Summary Employment Term Sheet 
  

			
		
	Employee Name:	  	James Stirbis (“Employee”).
		
	Position/Title:	  	Vice President and Chief Accounting Officer, reporting to LIM’s Chief Financial Officer.
		
	Start Date:	  	On or before February 5, 2007.
		
	Term:	  	Employment is not subject to any contract and is, therefore, considered to be “at will.”
		
	Annual Base Salary:	  	$175,000.
		
	Annual Bonus:	  	Employee’s target bonus will be 60% of his annual base salary. The bonus will be paid at the direction of the Board of Directors upon its determination, in its sole discretion, of the
extent to which LIM’s calendar year operating targets have been met. LIM’s operating targets will be determined in the sole discretion of the Board of Directors. It is anticipated that the bonus will be paid within 120 days following
calendar year end.
		
	Equity Grant:	  	Employee will be eligible to participate in the LIM equity compensation plan, as and when adopted, at a level commensurate with Employee’s title. The specific terms of Employee’s
participation in the LIM equity participation plan will be determined in the sole discretion of the Board of Directors.
		
	Employee Benefits:	  	Employee will be entitled to participate in all employee benefit plans and programs applicable to Vice Presidents of LIM, as and when adopted. Such plans and programs shall include health
insurance, dental insurance, disability insurance, life insurance and a Defined Contribution (401(k)) Plan, all subject to such contributions by Employee as the Board of Directors may from time to time determine in its sole
discretion.
		
	Confidentiality and	  	
	Non-Competition:	  	Upon the commencement of his employment, Employee will sign an Agreement that establishes his non-disclosure, non-competition and non-solicitation obligations with respect to LIM and its
subsidiaries (the “Employee Agreement”).

  

 1 

			
	Severance Benefits:	  	If LIM terminates Employee’s employment without “cause” (as defined below), LIM will (subject to Employee’s execution of a general waiver and release of claims agreement):

		
		  	 (i) continue to pay to Employee his base salary, in accordance with LIM’s regular payroll practices, for a period of 6 months following the date of such
termination;

		
		  	 (ii) continue coverage for Employee under all LIM group health benefit plans in which Employee was entitled to participate immediately prior to the date of
termination (to the extent permitted thereunder and subject to any cost-sharing or similar provisions then in effect) for a period of 6 months following the date of termination; and

		
		  	 (iii) pay to Employee a pro-rata portion of any bonus payable with respect to the year of termination based on LIM’s year-to-date performance through the
date of termination (such amount to be determined by the Board of Directors in its discretion and payable at such time as Employee’s annual bonus would otherwise have been payable).

		
		  	Employee’s right to such payments and benefits will terminate on the first day that Employee violates any covenant contained in Section 2, 4 or 5 of the Employee
Agreement.
		
		  	LIM will have “cause” to terminate Employee’s employment upon:
		
		  	 (i) his commission at any time of any act or omission that results in, or that may reasonably be expected to result in, a conviction, plea of no contest or
imposition of unadjudicated probation for any felony or crime involving moral turpitude;

		
		  	 (ii) his commission at any time of any act of fraud, embezzlement, misappropriation, material misconduct or breach of fiduciary duty against LIM (or any
predecessor thereto or successor thereof);

		
		  	 (iii) a willful failure to substantially perform such duties as are reasonably assigned to him by LIM; or

		
		  	 (iv) his unlawful use (including being under the influence) or possession of illegal drugs on LIM’s premises or while performing his duties and
responsibilities to LIM.

		
	Section 409A	  	Notwithstanding anything herein the contrary, in the event that LIM determines that any amounts payable hereunder may be subject to Section 409A of the Internal Revenue Code of 1986, as
amended, and the regulations and other interpretive guidance issued with respect thereto (“Section 409A”), LIM may adopt such amendments to the provisions of this term sheet or adopt other policies and procedures (including amendments,
policies and procedures with retroactive effect), or take any other actions, that LIM determines are necessary or appropriate to: (i) exempt such payments from Section 409A and/or preserve the intended tax treatment of the benefits provided with
respect to such payments or (ii) comply with the requirements of Section 409A and thereby avoid the application of penalty taxes under Section 409A.

  

 2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00156-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00156-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00156-of-00352.parquet"}]]