Document:

QuickLinks
 -- Click here to rapidly navigate through this document

Exhibit 10.5.2  

 
 

EMPLOYMENT AGREEMENT
  AMENDMENT NO. 2    
    

        THIS AMENDMENT NO.2 (this "Amendment") dated September 15, 2004 is made to the EMPLOYMENT AGREEMENT dated as of August 14, 2000 (as amended by
Amendment No.1 dated February 13, 2002, the "Agreement") by and between Advanstar, Inc. (the "Company") and James M. Alic ("Executive"). 

WHEREAS, the parties to the Agreement seek to modify certain terms of the Agreement to the extent described in this Amendment; 

THEREFORE, in consideration of the mutual promises contained herein, and for other good and valuable consideration, intending to be legally bound, the
Company and Executive hereby agree as follows: 

	1.
	Unless
specifically defined otherwise in this Amendment, capitalized terms used in this Amendment shall have the same respective meanings as ascribed to such terms in the Agreement.
The term "Section" as used in this Amendment shall refer to a Section of the Agreement.

	2.
	Section 1
is hereby amended by deleting the first and second sentences and replacing them with the following: "The Company agrees to employ the Executive, and the Executive
accepts such employment and agrees to serve the Company as Chairman of the Board of Directors of the Company and any of its respective Subsidiaries as may from time to time be requested by the
Company, for the compensation and benefits detailed in Sections 3 and 4 hereof. It is understood that the Executive will report to the Board of Directors of the Company."

	3.
	A
new Section 3(b) shall be added as follows: "Bonus. The Executive shall receive annual bonus compensation for calendar years
2004 and 2005, subject to the discretionary approval of the Board of the Company, based upon the recommendation of the CEO of the Company. Such bonus compensation shall be in a gross amount not to
exceed 100% of the Executive's base salary as described in Section 3(a), and shall be based on the Executive's devotion of time and contribution to the Business during the applicable calendar
year. Any bonus payable under this Section 3(b) shall be paid not later than 60 days after the applicable year end."

	4.
	Section 6
is hereby deleted in its entirety and replaced with the following new Section 6: 

"6.    Term. This Agreement shall have a term (the "Employment Term") equal to the period from the Effective Date through December 31,
2005 (the "Fixed Term") and shall continue thereafter only upon the mutual agreement of the parties; provided that Sections 9 and 10 shall survive such
termination in accordance with their terms. 

	5.
	Section 14
is amended to change the address for the Executive to: 

	For U.S. Mail	 	For Private Courier
	James M. Alic

P.O. Box G

Ludlow, VT 05149	 	James M. Alic

172 Summit View Road

Ludlow, VT 05149

This Amendment is effective as of the date indicated above. Except to the extent amended by this Amendment, the Agreement is affirmed and remains in full force and effect. 

 

IN WITNESS WHEREOF, the parties have duly signed this Amendment as of the day and year first written above. 

	ADVANSTAR, INC.	 	JAMES M. ALIC

	
 
	
 	

 
	
 	

 

	By:	 	/s/  JOE LOGGIA      
 Name: Joe Loggia

Title: CEO	 	/s/  JAMES M. ALIC      

2

QuickLinks

EMPLOYMENT AGREEMENT AMENDMENT NO. 2QuickLinks
 -- Click here to rapidly navigate through this document

Exhibit 10.13  

 
 

Award Agreement
  under the
  Advanstar Holdings Corp.
  2000 Management Incentive Plan    
    

	

Date of Grant:	
 	

October 1, 2004
	

Name of Optionee:	
 	

James A. Finkelstein
	

Number of Shares	
 	

 
	 	Time Vesting:	 	25,000 Shares
	

Exercise Price:	
 	

$10.00/Share
	

Expiration Date:	
 	

September 30, 2014

        Advanstar
Holdings Corp. (formerly known as Jetman Acquisition Corp), a Delaware corporation (the "Company"), hereby grants to the
above-named optionee (the "Optionee") a time vesting option (the
"Options") to purchase from the Company, for the price per share set forth above, the number of shares of common stock, par value $0.01 per share (the
"Shares"), of the Company set forth above pursuant to the Advanstar Holdings Corp. 2000 Management Incentive Plan (the
"Plan"). The Options are not intended to be treated as incentive stock options under the Code. 

        Capitalized
terms not otherwise defined herein shall have the same meanings as in the Plan. The terms and conditions of the Option granted hereby, to the extent not controlled by the
terms and conditions contained in the Plan, are as follows: 

        1.    Exercise Price.    The price (the "Exercise Price") at which
each Share subject to the Options may be purchased shall be the price set forth above. 

        2.    Number of Shares; Exercise.    The number of Shares for which the Option may be exercised is set forth above. To
the extent that an Option has become vested in accordance with Section 3 below, such Option may be exercised at any time until the expiration date (the "Expiration
Date") set forth above, subject to the terms of the Plan and Section 4 below. 

        3.    Vesting.    

        (a)   As
of the date of grant set forth above (the "Date of Grant"), 20% of the Shares subject to the Options shall vest and
become exercisable. 

        (b)   As
of the first anniversary of the Date of Grant, an additional 20% of the Shares subject to the Options shall vest and become exercisable;  provided that the Optionee is, on such vesting date, and at all
times since the Date of Grant has been, in the employment or service, as the case may
be, of the Company or a Subsidiary or Affiliate thereof. 

        (c)   As
of the second anniversary of the Date of Grant, an additional 20% of the Shares subject to the Options shall vest and become exercisable;  provided that the Optionee is, on such vesting date, and at all
times since the Date of Grant has been, in the employment or service, as the case may
be, of the Company or a Subsidiary or Affiliate thereof. 

        (d)   As
of the third anniversary of the Date of Grant, an additional 20% of the Shares subject to the Options shall vest and become exercisable;  provided that the Optionee is, on such vesting date, and at all
times since the Date of Grant has been, in the employment or service, as the case may
be, of the Company or a Subsidiary or Affiliate thereof. 

        (e)   As
of the fourth anniversary of the Date of Grant, the final 20% of the Shares subject to the Options shall vest and become exercisable;  provided that the Optionee is, on such vesting date, and at

 

all
times since the Date of Grant has been, in the employment or service, as the case may be, of the Company or a Subsidiary or Affiliate thereof. 

        (f)    Notwithstanding
anything to the contrary in this Agreement, the Options and any Shares acquired from any exercise of the Options shall be subject to the resale
restriction and Company repurchase right set forth in Section 6 below. 

        (g)   Upon
a Change of Control, the Options shall vest in its entirety and become immediately exercisable. 

        4.    Manner of Exercise; Effect of Termination.    

        (a)   The
Optionee (and, to the extent applicable, any heirs or legal representatives thereof) may exercise any portion of the Options which have become exercisable in
accordance with the terms hereof as to all or any of the Shares then available for purchase by delivering to the Company written notice specifying: 

        (i)    the
number of whole Shares to be purchased together with payment in full of the aggregate Exercise Price of such Shares;  provided that the Options may not be exercised for less than 100 Shares or the number
of Shares remaining subject to the Options, whichever is smaller; 

        (ii)   the
address to which dividends, notices, reports, etc. are to be sent; and 

        (iii)  the
Optionee's social security number. 

        Payment
shall be (1) in cash, by certified or bank cashier's check payable to the order of the Company, free from all collection charges, (2) in unencumbered Shares
(provided that such shares shall have been held by the Optionee for at least six months unless the Compensation Committee determines in its sole
discretion that such six-month holding period is not necessary to comply with any accounting, legal or regulatory requirement) having a Fair Market Value equal to the full amount of the
Exercise Price therefor, (3) if Shares are then traded on a national securities exchange or on the Nasdaq National Market (or successor trading system) delivery of an irrevocable and
unconditional undertaking, satisfactory in form and substance to the Company, by a creditworthy broker to deliver promptly to the Company sufficient funds to pay the exercise price, or delivery by the
Optionee to the Company of a copy of irrevocable and unconditional instructions, satisfactory in form and substance to the Company, to a creditworthy broker to deliver promptly to the Company cash or
check sufficient to pay the exercise price, or (4) in such other form as may be permitted by the Compensation Committee. As the sole discretion of the Compensation Committee, the Optionee may
satisfy any tax withholding obligations by having the Company withhold Shares which would otherwise be issued to the Optionee upon the exercise of the Option having a Fair Market Value equal to the
full amount of the tax with respect to such Shares, where such tax is calculated using the applicable federal statutory rate. Only one stock certificate will be issued unless the Optionee otherwise
requests in writing. Shares purchased upon exercise of the Option will be issued in the name of the Optionee or the Optionee's Permitted Transferee. The Optionee shall not be entitled to any rights as
a stockholder of the Company in respect of any Shares covered by the Options until such Shares shall have been paid for in full and issued to the Optionee. 

        (b)   If
the Optionee ceases to be employed by, or in the service of, the Company or any of its Subsidiaries, other than by reason of death or disability, voluntary
resignation or termination for Cause, no further installments of the Options shall vest and the Options shall expire and may no longer be exercised (to the extent exercisable on the last day of
employment or service) after the passage of three months from the Optionee's last day of employment or service, as the case may be, but in no case later than the scheduled expiration date. If the
Optionee ceases to be employed by, or in the service of, the Company or any of its Subsidiaries, by reason of death or disability, no further installments of the Options shall vest and the Options
shall expire and may no longer be exercised (to the extent 

2

 

exercisable
on the last day of employment or service), by the Optionee's estate, legal representatives or Persons to whom the Options are transferred pursuant to Section 5, after the passage of
365 days from the Optionee's last day of employment or service, as the case may be. If the Optionee ceases to be employed by, or in the service of, the Company or any of its Subsidiaries, by
reason Optionee's voluntary resignation, no further installments of the Options shall vest and the Options shall expire and may no longer be exercised (to the extent exercisable on the last day of
employment or service) after the passage of 30 days from the Optionee's last day of employment or service, as the case may be, but in no case later than the scheduled expiration date. If the
employment or service of the Optionee is terminated for Cause, the Options shall expire and may no longer be exercised upon the Optionee's receipt of written notice of such termination and shall
thereafter not be exercisable to any extent whatsoever. 

        5.    Non-Transferability of Options.    The Options are personal to the Optionee and may be exercised
only by the Optionee (and, to the extent applicable, any heirs or legal representatives
thereof). Except as provided in Section 6, the Options shall not be transferable other than by will or the laws of descent and distribution. 

        6.    Right of Repurchase.    

        (a)   If
the Optionee's employment with the Company or a Subsidiary thereof is terminated (x) by the Company or a Subsidiary thereof without Cause or (y) by the
Optionee for Good Reason, then the Option, to the extent vested as of the date of such termination, and all Shares previously acquired upon exercise of the Option shall be subject to a right of
repurchase by the Company or its appointed designee from the Optionee or his or her Permitted Transferee (the "Call Right") at a price equal to the Fair
Market Value of the Option or the Shares, as the case may be, as of the date of termination. 

        (b)   If
the Optionee's employment with the Company or a Subsidiary thereof is terminated by the Company or a Subsidiary thereof for Cause, then the Option shall be terminated
in its entirety. All Shares previously acquired upon exercise of the Option shall be subject to the Call Right at a price equal to the lower of the Exercise Price or the Fair Market Value of such
Shares as of the date of termination. 

        (c)   If
the Optionee's employment with the Company or a Subsidiary thereof shall terminate due to death, disability or Qualified Retirement (as defined below), then the
Option, to the extent vested as of the date of such termination, and all Shares previously acquired upon exercise of the Option shall be subject to the Call Right at a price equal to the Fair Market
Value of the Option or the Shares, as the case may be, as of the date of repurchase. In addition, the Optionee shall have the right to sell the Option and all Shares previously acquired upon exercise
of the Option to the Company (the "Put Right") at a price equal to the Fair Market Value of the Option or the Shares, as the case may be, as of the date
of termination. "Qualified Retirement" means retirement at age 62 (except in the case of Robert Krakoff or James Alic) or with board approval. 

        (d)   If
the Optionee's employment with the Company or a Subsidiary thereof is terminated by the Optionee without Good Reason, then the Option, to the extent vested as of the
date of such termination, and all Shares previously acquired upon exercise of the Option, shall be subject to the Call Right at a price equal to the Adjusted Fair Market Value (as defined below). 

        "Adjusted Fair Market Value" means the Fair Market Value of a Share, (assuming no discount for minority interest but reflecting an Initial
Public Offering Discount) reduced by (A) the amount by which (1) such Fair Market Value exceeds (2) the Exercise Price paid for such Shares multiplied by (B)(1) 20% if the
Optionee's termination of employment occurs prior to the first anniversary of the Effective Time, (2) 15% if the Optionee's termination of employment occurs between the first and second
anniversary of the Effective Time, (3) 10% if the Optionee's termination of Employment occurs between the second and third anniversary of the Effective Time, (4) 5% if the Optionee's
termination 

3

 

of
Employment occurs after the third anniversary but prior to the fourth anniversary of the Effective Time and (5) 0% if the Optionee's termination of Employment occurs on or after the fourth
anniversary of the Effective Time. In determining the Adjusted Fair Market Value of an Option, the Adjusted Fair Market Value shall be further reduced by the amount of the per-share
exercise price. 

        (e)   Any
proceeds paid to the Optionee or his or her Permitted Transferee pursuant to this Section 6, shall be paid in the form of cash or a certified check;  provided that if the terms of any agreement to
which the Company is a party, or any of the indentures governing any debt securities issued by the
Company or any of its Subsidiaries, would prohibit the Company from effecting such payment, payment may be effected through a security of a form permissible under such agreement or indentures; and  provided
further that in any event such security shall become due at such time as the prohibitions described above shall lapse. 

        7.    Restriction on Sale of Shares and Put/Call Rights.    

        (a)   Except
as provided in Section 6, no Share acquired from the exercise of the Option may be transferred by the Optionee or his Permitted Transferee except as
permitted or required under the Shareholders' Agreement. For all purposes under the Shareholders' Agreement, the Optionee shall be treated as a "Management Shareholder". 

        (b)   Upon
the occurrence of an Initial Public Offering (as defined in the Shareholders' Agreement), the Company's Call Right hereunder shall lapse, unless a Purchase Notice
has been delivered to the Optionee (or his Permitted Transferee, or, to the extent applicable, any heirs or legal representatives of the Optionee) prior to the date of the Initial Public Offering in
accordance with Section 7(d); provided that the Company's Call Right for vested Options and Shares shall survive until the second anniversary of
the consummation of the Initial Public Offering if the Optionee was terminated for Cause by the Company or if the Optionee terminated his employment without Good Reason. 

        (c)   Upon
the occurrence of an Initial Public Offering (as defined in the Shareholders' Agreement), the Optionee's Put Right hereunder shall lapse, unless a Sale Notice has
been delivered to the Company prior to the date of the Initial Public Offering in accordance with Section 7(e); provided that if the Optionee's
termination was due to death, disability or Qualified Retirement, the Optionee's Put Right shall survive to the extent the applicable Shares remain subject to transfer restrictions 

        (d)   The
Company may elect to purchase all or any portion of the Options or the Shares to be purchased pursuant to a Call Right under Section 6 by delivering written
notice (the "Purchase Notice") to the holder of the Options or the Shares, as the case may be, within 90 days after the occurrence of the
applicable event of termination. The Purchase Notice shall set forth: 

        (i)    the
amount of Options or Shares to be acquired from the holder; 

        (ii)   the
consideration to be paid for such Options or Shares; and 

        (iii)  the
time and place for the closing of the transaction, which date shall not be more than 30 days nor less than 5 days after the delivery of such notice. 

        At
such closing, the holder shall deliver all certificates (if any exist) evidencing the Options or Shares, as the case may be, to be purchased by the Company. 

        The
Company shall be entitled to receive customary representations and warranties from any sellers regarding good title and absence of liens or encumbrances in connection with any
purchase of any Options or Shares pursuant to Section 6. 

        (e)   The
Optionee or his Permitted Transferee (or to the extent applicable, any heirs or legal representative of the Optionee) may elect to sell all or any portion of the
Options or the Shares to be sold pursuant to a Put Right under Section 6 by delivering written notice (the "Sale Notice") to the 

4

 

Company
within 90 days after the occurrence of the applicable event of termination. The Sale Notice shall set forth: 

        (i)    the
amount of Options or Shares to be sold to the Company; 

        (ii)   the
price to be paid by the Company for such Options or Shares; and 

        (iii)  the
time and place for the closing of the transaction, which date shall not be more than 30 days nor less than 5 days after the delivery of such notice. 

        At
such closing, the holder shall deliver all certificates (if any exist) evidencing the Options or Shares, as the case may be, to be sold to the Company. 

        The
Company shall be entitled to receive customary representations and warranties from any sellers regarding good title and absence of liens or encumbrances in connection with any
purchase of any Options or Shares pursuant to Section 6. 

	(f)
	The
Company, by action of the Compensation Committee or the Board, will have the right to assign all or any portion of its rights under Section 6 to any Person.

	(g)
	Notwithstanding
anything to the contrary contained in this Agreement, all purchases of Shares by the Company shall be subject to applicable restrictions contained in the Delaware
General Corporation Law or the debt and equity financing agreements of the Company or any Subsidiary or Affiliate thereof or imposed by applicable law. If any such restrictions prohibit the purchase
of Shares which are otherwise permitted or required hereunder, the time periods provided in Section 6 shall be suspended, and the Company may make such purchases as soon as it is permitted to
do so under such restrictions. 

        8.    Confidential Information.    The Optionee acknowledges that the Confidential Information (as defined below)
relating to the business of the Company or any of its Subsidiaries which the Optionee has obtained or will obtain during the course of his or her employment or service with the Company are the
property of the Company or such its Subsidiary, as the case may be. The Optionee agrees that he or she will not disclose or use at any time, during his or her employment or service with the Company or
any of its Subsidiaries, any Confidential Information, other than in the ordinary course of business, to promote the interests of the Company or its Subsidiary and pursuant to the policy of the
Company or its Subsidiary, without the written consent of the Company or its Subsidiary, as the case may be. The Optionee further agrees that he or she will not disclose or use at any time, after his
or her employment or service with the Company, any Confidential Information. "Confidential Information" shall mean trade secrets, confidential or
proprietary information and all other knowledge, know-how, information, documents or material owned, developed or possessed by the Company or any of its Subsidiaries, whether in tangible
or intangible form, pertaining to the business of the Company or any of its Subsidiaries or any customer, known or intended to be known only to employees of the Company or any of its Subsidiaries or
other persons in a confidential relationship with the Company or any of its Subsidiaries or the confidentiality of which the Company or its
Subsidiary, as the case may be, takes reasonable measures to protect, including, but not limited to, operating procedures, knowledge of the organization, publications and events (including advertising
and exhibitor prices, costs, sales or content), processes, contracts, financial information or measures, business methods, future business plans, customers (including identities of customers and
prospective customers, identities of individual contacts at business entities which are customers or prospective customers, preferences, business or habits), business relationships, and other
information owned, developed or possessed by the Company or any of its Subsidiaries; provided, however,
that Confidential Information shall not include information that shall become generally known to the public without violation of this Section 8. 

        9.    Employment Rights.    The grant of an Option shall not be construed as giving an Optionee the right to be
retained in the employment or service of the Company or any Subsidiary or Affiliate 

5

 

thereof.
Further, the Company or any Subsidiary or Affiliate thereof may at any time terminate the employment or service of an Optionee, free from any liability or any claim under the Plan, unless
otherwise expressly provided in the Plan, in this Agreement applicable to such Optionee or in an employment agreement covering such Optionee. 

        10.    Terms of Plan; Interpretation.    The Options and the terms and conditions herein set forth are subject in all
respects to the terms and conditions of the Plan, which shall be controlling. All interpretations or determinations of the Compensation Committee and/or the Board shall be binding and conclusive upon
the Optionee and his legal representatives on any question arising hereunder. The Optionee acknowledges that he has received and reviewed a copy of the Plan. 

        11.    Delegation.    Optionee acknowledges that any powers, rights or responsibilities of the Board and/or the
Compensation Committee set forth herein may be delegated to and exercised by any subcommittee thereof as permitted under the Plan. 

        12.    Notices.    All notices, requests ad other communications to any party hereunder shall be in writing (including
facsimile transmission) and shall be given: 

        If
to the Optionee, to the address specified by the Optionee on the signature page of this Agreement; 

	        If to the Company, to:
	 	 	 
	 	 	Advanstar Holdings Corp.

c/o Advanstar, Inc.

6200 Canoga Avenue—2nd Floor

Woodland Hills, CA 91367

Attention: Chief Executive Officer

Fax: (818) 593-5020

Telephone: (818) 593-5000
	 	 	 
	 	 	with a copy to:
	 	 	 
	 	 	Advanstar Communications Inc.

Damonmill Square—Suite 6A

Concord, MA 01742

Attention: General Counsel

Fax: (978) 341-0451
	 	 	 
	 	 	if to the DLJ Funds to:
	 	 	 
	 	 	DLJ Merchant Banking Partners

11 Madison Avenue

New York, New York 10010

Attention: OhSang Kwon

Fax: (212) 325-5553
	 	 	 
	 	 	with a copy to:
	 	 	 
	 	 	 

6

 

	 	 	Davis Polk & Wardwell

450 Lexington Avenue

New York New York 10017

Attention: Nancy L. Sanborn, Esq.

Fax: (212) 450-4800

        13.    Entire Agreement.    This Agreement, together with the Plan, contains the entire
understanding of the parties hereto in respect of the subject matter contained herein. This Agreement, the Shareholders' Agreement and the Plan supersede all prior agreements and understandings
between the parties hereto with respect to the subject matter hereof, other than an employment agreement between the Company or a Subsidiary or Affiliate thereof and the Optionee. 

        14.    Governing Law.    Except as required to be governed by Delaware law, the provisions of this Agreement shall be
governed by and construed in accordance with the laws of the State of New York, without application of the conflict of laws principles thereof. 

        15.    Counterparts.    This Agreement may be signed in any number of counterparts, each of which shall be an
original, with the same effect as if the signatures thereto and hereto were upon the same instrument. 

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

	 	 	 	 	 
	 	 	ADVANSTAR HOLDINGS CORP.
	 	 	 	 	 
	 	 	By:	 	/s/  JOSEPH LOGGIA      
 Name:

Title:
	 	 	 	 	 
	 	 	OPTIONEE:
	 	 	 	 	 
	 	 	/s/  JAMES A. FINKELSTEIN      
 Name: James A. Finkelstein

Address:

7

QuickLinks

Award Agreement under the Advanstar Holdings Corp. 2000 Management Incentive Plan

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00081-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00081-of-00352.parquet"}]]