Document:

Exhibit 10.14

 

Lease Agreement(1)

 

For part of Lot number 5:127 in Lohja town in the village of Muijala and for the industrial building located on the lot.

 

1                    Under this agreement and according to the terms of this agreement, Hannele and Pekka Saarnio lease part of industrial lot number 5:127, which they own, located in the town of Lohja in the village of Muijala and the industrial building located on the lot at address Sorronrinne 9.

 

The surface area of the factory hall is about 1600 m2. The tenant has the right to use without any extra payment the parking area located on the lot and the area on the yard which is surrounded by fence and the gates.

 

monthly rent 32,394.00 (FIM) Finnish Marks per month

 

2                    Lease term starts on 1 July 2000 and is 120 months long. The lease term will then continue for one year at a time unless the contract is terminated by either party at least three months before the expiration of the contract period. The lease is fixed for two years and then the tenant has the right to terminate the lease with a notice of three months, however, with the first notice of termination on 1 July 2002. If the tenant terminates the lease prior to 30 June 2002, the tenant is obliged to pay 24-month rent as a penalty in addition to the rents already paid until then.

 

If the tenant terminates the lease after 30 June 2002, the tenant is liable to pay damages for the early termination of the lease. The amount of compensation for the period 30 June 2002 to 30 June 2003 is 120,000 FIM. The compensation is reduced annually by 15,000 FIM starting from 1 July 2004. In addition to the above liabilities, the tenant is liable to pay 3-month notice period rent.

 

After the written notice for termination is given, the landlord has the right to show the lot and the building starting from the date of notice.

 

3                    The rent is tied to the Finnish cost of living index. The base index to be used is the May 2000 cost of living index. The rent is first checked for the rental period beginning on July 1, 2001.

 

If the cost of living index has increased the landlord will inform in writing the tenant latest by the end of June 2001 what is the new rent starting from 1 July 2001. Possible decrease in the cost of living index does not affect the rent.

 

(1)  NOTE: The final document is in Finnish and does not include the English language.  This document constitutes a fair and accurate English translation of the foreign language document.

 

 

4                    The rent is paid monthly in advance so that the monthly rent is paid latest on the 3rd day of each month to the landlord’s bank account XXXYYY.

 

The tenant pays a two-month rent as a security deposit. The security deposit shall be paid before 1 July 2000.

 

5                    The tenant is entitled, at its own expense, to carry out internal alterations in the property which are necessary for the tenant to conduct its business. Before these alterations the tenant shall obtain all the needed permits from all necessary authorities, with the assistance of the landlord, and shall make sure that the changes do not reduce the value of the property.

 

The tenant is entitled at its expense, to the extent permitted by the construction permit authorities, to raise the roof of the building to about 9-meter height from the ground on the side closest to the street over a length of approximately 5 meters. At the end of the lease term, the restructuring of the roof will be left free of charge to the landlord.

 

All the HVAC modifications and structural modifications which do not require a construction permit procedure and which differ materially from the original condition of the building need to be returned to the original condition if the landlord so desired when the lease term ends. This applies for example to the changes that have been done for the non-load-bearing partition wall structures.

 

6                    At the end of the lease agreement, the tenant has the right to remove equipment related to its own process and other equipment which were purchased at the tenant’s expense (for example air compressor, surveillance cameras, etc.). After removal of the equipment, the tenants shall return the space to its original condition.

 

7                    The tenant shall pay all utility costs of the of the rented premises such as electricity, heating, water and waste removal as well as operation and maintenance of HVAC equipment. In addition to this the tenant shall pay for other expenses related to the use and operation of the premises, such as snow removal, winter sanding and maintenance of the premises in neat, sanitary and clean condition free of trash and debris, so that the lack of taking care of these responsibilities does not cause damage to the users of the property and / or damage to the property itself. The tenant shall also insure its own property. However, the landlord is responsible for the costs of the property insurance and the property tax.

 

The tenant is also responsible at its own cost for maintenance of the leased property so that any damages and breakages to the property and/or equipment that are caused by the tenant using the property will be repaired immediately.

 

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The landlord takes care of the basic structural maintenance costs of the property.

 

8                     To determine the condition of the property, an annual review of the real estate shall be held between the parties.

 

9                    The initial term of this lease and rental payment shall begin on 1 July 2000. The tenant shall get the possession of the premises on 1 July 2000.

 

10             If the landlord wishes to sell the leased property, he must first offer it to the tenant for the same price and under the same conditions than a third party has offered to pay for the property. The landlord shall show the tenant a written third party offer for evidence of such an offer. The tenant is entitled within 30 days after receiving a written redemption notice to redeem the property with the above terms.

 

This lease agreement does not include following equipment and structures:

 

· Electrically operated lift doors
  · Automatic fire and smoke alarm and burglary alarm systems
  · HVAC equipment

 

This equipment can be used by the tenant if the tenant takes care of its operating costs and maintenance and servicing,

 

We accept this agreement and commit to meeting the terms of this agreement.

 

This lease agreement has been signed in two identical copies, one for each party,

 

In Lohja, April 7, 2000

 

	
Landlord
    	
 
    	
Tenant
    	
 
    
	
Hannele ja Pekka Saarnio
    	
 
    	
Liekki Oy
    	
Business code 15706081
    

 

	
/s/ Hannele Saarnio
    	
 
    	
/s/ Pekka Saarnio
    	
 
    	
/s/ Markku Rajala
    
	
Hannele Saarnio
    	
 
    	
Pekka Saarnio
    	
 
    	
Markku Rajala
    

 

In witness of

 

	
/s/    Suppo Lindisor
    	
 
    	
 
    
	
Suppo Lindisor
    	
 
    	
 
    
	
17A, LOHJA 19-323944
    	
 
    	
 
    

 

3

 

	
Asemanrinne 5
    	
21 March 2016
    	
 
    
	
08500 Lohja
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
nLight Oy
    	
 
    	
 
    
	
Heikki Ihalainen
    	
 
    	
 
    
	
Sorronrinne 9
    	
 
    	
 
    
	
08500 Lojha
    	
 
    	
 
    

 

LEASE CONTRACT EXTENSION(1)

 

	
Landlord
    	
Hannele Saarnio
    
	
 
    	
 
    
	
Tenant
    	
nLight Corporation ( Liekki Oy )
    
	
 
    	
 
    
	
Property
    	
In the town of Lohja, in Muijala village Industrial lot number 5:127 and   an industrial building located on this lot at address Sorronrinne 9.
    
	
 
    	
 
    
	
Subject
    	
We will continue the lease agreement of the above defined property which   ends 1 July 2016 using the following terms:
    
	
 
    	
 
    
	
 
    	
lease term 72 months, which is divided into two 36-month periods
    
	
 
    	
monthly rent is for the next 72 months (starting from 1 April 2016)   6300.00 €, if the lease shall be terminated earliest on 1 April 2022.
    
	
 
    	
 
    
	
 
    	
If the lease shall be terminated 1 April 2019, the tenant shall pay   in addition to the last month payment a rent increase based on the Finnish   standard of living cost index back dated starting from 1 July 2016. The   base index to be used as a comparison for the rent increase is 1724 which is   the index value in 1 July 2009.
    
	
 
    	
Other terms and conditions of the original lease contract signed on 7   April 2000 shall prevail.
    
	
 
    	
 
    
	
 
    	
In Lohja, 21 March 2016
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
/s/ Hannele Saarnio
    	
 
    
	
 
    	
Vuokranantaja
    	
 
    
	
 
    	
Hannele Saarnio
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
/s/ Heikki Ihalainen
    	
 
    	
/s/ Simo Karrinen
    
	
 
    	
nLight Corporation
    	
 
    	
nLight Corporation
    
	
 
    	
Heikki Ihalainen
    	
 
    	
Simo Karrinen
    

 

(1)  NOTE: The final document is in Finnish and does not include the English language.  This document constitutes a fair and accurate English translation of the foreign language document.Exhibit

Exhibit 10.22
INCENTIVE AWARD AGREEMENT 
 
NONQUALIFIED STOCK OPTION AGREEMENT  

THIS AGREEMENT, made on December 6, 2017 (the “Award Date”), by and between Intersections Inc. (the “Corporation”) and Michael R. Stanfield (the “Holder”).
WHEREAS, the Corporation has established the 2014 Stock Incentive Plan, as amended from time to time (the “Plan”), pursuant to which stock options may be awarded to employees, directors, consultants and independent contractors of the Corporation and its Subsidiaries; and
WHEREAS, it is intended that this Agreement shall set forth the terms, conditions and restrictions imposed with respect to the Option (as defined below);
NOW, THEREFORE, the parties hereto agree as follows:
1.Option.
(a)    Pursuant to the Plan, the Holder has been awarded on the Award Date, the right and option (the “Option”) to purchase all or any part of the aggregate of 238,095 shares of the Corporation’s common stock, par value $0.01 per share (each a “Share”), subject to the terms, conditions and restrictions set forth in the Plan and in this Agreement, at an exercise price per Share of $2.10 (the “Exercise Price”).  The Option is not intended to be an incentive stock option.
(b)    The Option and this Agreement are subject to all of the terms and conditions of the Plan, which terms and conditions are hereby incorporated by reference.  Except as otherwise expressly set forth herein, the capitalized terms used in this Agreement shall have the same definitions as set forth in the Plan.
2.    Term of the Option. The Option shall expire on the fifth anniversary of the Award Date (the “Expiration Date”) or, if earlier the date on which the Option is terminated or forfeited in accordance with the provisions of the Plan and this Agreement. 
3.    Vesting and Exercisability.  
(a)    Subject to Section 2(b) and Section 2(c) hereof, the Option shall vest and become exercisable as follows: 50% of the Option will vest on each of the first and second anniversaries of the date hereof, provided that the Holder remains continuously employed by the Corporation or a Subsidiary from the Award Date through (and including) each such respective vesting date.
(b)    Notwithstanding the provisions of Section 2(a) hereof, in the event of the Holder’s death or Disability, the Holder shall immediately be vested in the Option and the Option shall be exercisable for the periods provided in Section 4 hereof.
(c)    Notwithstanding the provisions of Section 2(a) hereof, in the event (i) the Holder is terminated by the Corporation and/or Subsidiary without Cause, (ii) the Holder’s employment with the Corporation and/or Subsidiary is terminated by the Holder by reason of the Holder’s resignation for Good 

Reason, or (iii) of the Holder’s retirement from the Corporation and all Subsidiaries on or after his 65th birthday, the Holder shall immediately be vested in the Option and the Option shall be exercisable for the periods provided in Section 4 hereof.
(d)    In the event of the Holder’s termination of employment for any reason other than the circumstances set forth in Section 2(b) or Section 2(c) prior to the date on which the Option (or portion thereof) has become vested, unless otherwise provided in the Plan, (i) the Option (or portion thereof), to the extent not then vested and exercisable, shall be immediately cancelled with no compensation due to the Holder, and the Holder shall have no rights or interests with respect to such portion of the Option; and (ii) the Option (or portion thereof), to the extent vested and exercisable, shall remain exercisable for the periods provided in Section 4 hereof.
(e)    Any other applicable restrictions or conditions under the requirements of any stock exchange upon which any Shares issued pursuant to the Option or shares of the same class are then listed, and under any securities law applicable to such Shares, shall be imposed.
4.    Exercise of the Option.  Notice of exercise and payment of the exercise price with respect to the Option shall be as provided in the Plan. Notwithstanding any provision to the contrary in the Plan or this Agreement, to the extent the Option is vested on the Holder’s termination of employment (after giving effect to any accelerated vesting under the Plan and/or Section 3 above), all or any part of the vested portion of the Option may be exercised at any time (and from time to time) prior to the Expiration Date; provided, however, if the employment or service of the Holder is terminated by the Corporation and/or Subsidiary for Cause, the Option (including any portion that has previously become vested or exercisable) shall be immediately cancelled with no compensation due to the Holder, and the Holder shall have no rights or interests with respect to the Option.
5.    Transfer Restrictions.  The Option may not be transferred, pledged, assigned, hypothecated or otherwise disposed of in any way by the Holder, except by will or by the laws of descent and distribution.
6.    Ownership, Voting Rights, Duties.  Unless and until the exercise of the Option and the underlying delivery of Shares, the Holder has no rights as a shareholder of the Corporation with respect to the underlying Shares, including no right to vote the underlying Shares or rights to dividends or distributions on the underlying Shares.
7.    Holder Bound by the Plan.  The Holder hereby acknowledges receipt of a copy of the Plan and by accepting this Award agrees to be bound by all the terms and provisions of the Plan and this Agreement, including, without limitation, the Corporation’s and Subsidiaries’ tax withholding rights with respect to the Option and any Shares issued, or cash paid, pursuant thereto.  A determination of the Committee as to any questions which may arise with respect to the interpretation of the provisions of this Agreement and of the Plan shall be final.  The Committee may authorize and establish such rules, regulations and revisions thereof not inconsistent with the provisions of the Plan, as it may deem advisable.
8.    Modification of Agreement.  This Agreement may be modified, amended, suspended or terminated, and any terms or conditions may be waived, but only by a written instrument executed by the parties hereto; provided, however, that this Agreement may be amended without the consent of the Holder if such amendment is not adverse in any material respect to the Holder or to the extent necessary to comply with the requirements of Section 409A of the Internal Revenue Code or as contemplated under the Plan, including pursuant to Section 15 of the Plan.

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9.    No Right to an Employment Relationship. The Holder understands and acknowledges that this Agreement is not a contract for employment or service with the Corporation and/or any of its Subsidiaries, and nothing contained herein shall be construed as giving the Holder any right to be retained as an employee of, or provide service to, the Corporation and/or any of its Subsidiaries or affiliates for any period of time.
10.    Severability.  Each provision of this Agreement is intended to be severable.  If any provision of this Agreement shall be invalid or unenforceable to any extent or in any application, the remaining provisions of this Agreement shall not be affected thereby and shall continue in effect and application to the fullest extent in accordance with their terms.
11.    Governing Law.  This Agreement shall be construed and enforced in accordance with the laws of the State of Delaware, without giving effect to the principles of conflict of laws.
12.    Successors in Interest.  This Agreement shall inure to the benefit of, and be binding on, the Corporation and its successors and assigns.  This Agreement shall inure to the benefit of, and be binding on, the Holder and the Holder’s legal representatives.  All obligations imposed upon the Holder and all rights granted to the Corporation under this Agreement shall be final, binding and conclusive upon the Holder’s heirs, executors and administrators.  This Agreement shall not be transferrable or assignable by the Holder other than pursuant to the laws of descent and distribution.
13.    Counterparts. This Agreement may be executed in any number of counterparts, including counterparts transmitted by facsimile or electronic mail, any one of which shall constitute an original of this Agreement. When counterparts or facsimile or electronic mail copies have been executed by all parties hereto, they shall have the same effect as if the signatures to each counterpart or copy were upon the same documents and copies of such documents shall be deemed valid as originals. The parties agree that all such signatures may be transferred to a single document upon the request of any party. This Agreement shall not be binding unless and until it shall be fully executed and delivered by all parties hereto. In the event that this Agreement is executed and delivered by way of facsimile transmission or electronic mail, each party delivering a facsimile or electronic mail counterpart shall promptly deliver an ink-signed original counterpart of the Agreement to the other party by overnight courier service; provided that the failure of a party to deliver an ink-signed original counterpart shall not in any way effect the validity, enforceability or binding effect of a counterpart executed and delivered by facsimile transmission or electronic mail.
14.    Defined Terms.  In addition to terms defined elsewhere herein, the following terms shall have the following meanings when used in this Agreement.
(a)    “Cause” shall mean that the Holder: (i) has been convicted of, or entered a plea of nolo contendre to, a misdemeanor involving moral turpitude or any felony under the laws of the United States or any state or political subdivision thereof; (ii) has committed an act constituting a breach of fiduciary duty, fraud, gross negligence or willful misconduct; (iii) has engaged in conduct that violated the Corporation’s then existing internal policies or procedures and which is materially detrimental to the business, reputation, character or standing of the Corporation or any of its Subsidiaries; or (iv) after written notice to the Holder and a reasonable opportunity of at least 30 days to cure, the Holder shall continue (x) to be in material breach of the terms of his employment agreement with the Corporation; (y) to fail or refuse to attend to the material duties and responsibilities reasonably assigned to him by the Board of Directors consistent with his authority, position and responsibilities on the date hereof; or (z) to be absent excessively for reasons unrelated to disability.
(b)    “Disability” shall mean that the Holder is (i) unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected 

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to result in death or can be expected to last for a continuous period of not less than twelve (12) months or (ii) by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months, receiving income replacement benefits for a period of not less than three (3) months under an accident and health plan covering employees of the service provider's employer.
(c)    “Good Reason” shall mean one or more of the following without the Holder’s written consent: (i) a material diminution of the Holder’s base salary; (ii) a material diminution in the Holder’s authority, duties or responsibilities; (iii) the Holder no longer reports directly to the Board of Directors of the Corporation; (iv) the relocation of the Holder’s principal office to a location outside a thirty (30) mile radius from the Corporation’s present Chantilly, Virginia location or (v) any other action or inaction that constitutes a material breach of the terms of the Holder’s employment agreement with the Corporation, provided, however, that none of the events described herein will constitute Good Reason unless the Holder has first provided written notice to the Corporation of the occurrence of the applicable event(s) within ninety (90) days of the initial existence of such event and the Corporation fails to cure such event within thirty (30) days after its receipt of such written notice and, if uncured, the termination is effective as of the end of such cure period.  
15.    Conflicts. This Agreement remains subject to the terms of the Plan. To the extent of any conflict between this Agreement and the Plan, the Plan shall control; provided, however, that the Agreement may impose greater restrictions on, or grant lesser rights to, the Holder than the Plan.
16.    Entire Agreement.  This Agreement, together with the Plan, constitute the entire agreement between the parties hereto with respect to the Option.  The Holder and the Corporation acknowledge and agree that, notwithstanding any provisions in the Holder’s employment agreement (if any) with the Corporation and/or any Subsidiary to the contrary, the provisions of this Agreement control the treatment of the Option, including but not limited to the treatment of such Option on termination of the Holder’s employment for any reason.

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[Remainder of Page Intentionally Left Blank]

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IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first set forth above.
INTERSECTIONS INC.
                            	
		
	By:
	/s/ Ronald L. Barden

	      Name:
	Ronald L. Barden

	      Title:
	Chief Financial Officer

                            
                            	
	
	/s/ Michael R. Stanfield

	Michael R. Stanfield

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