Document:

Separation Agreement

 Exhibit 10.1 
 March 8, 2011 
 Sheila M. Flaherty 
 c/o Stream Global Services, Inc. 
 20 William Street, Suite 310 

Wellesley, MA 02481 
 Dear Sheila: 

This letter agreement (the “Letter Agreement”) confirms that your employment with Stream Global Services, Inc. (the
“Company”) will cease effective March 8, 2011 and sets forth the terms of your separation from service. The Company hereby advises you to consult with an attorney of your own choosing prior to signing this Letter Agreement. You
and the Company have agreed to the following terms: 
 Separation Date, Transition Period and Resignations 

1. Your last day of employment and your payroll termination date (i.e., the last working day for which you will be paid your base salary
and benefits) will be March 8, 2011 (“Separation Date”). During the period of time between the date you receive this Letter Agreement and the Separation Date (“Transition Period”), the Company will continue to
pay you your base salary, less all applicable taxes and withholdings, and customary benefits during the Transition Period. You hereby resign as a director and officer of the Company and each of the Company’s subsidiaries as of the Separation
Date. You agree that you will execute all documents necessary, in the Company’s sole discretion, to effect such resignations. 
 Payments and Benefits 
 2. Provided you timely execute and return, do not
revoke, and comply with the terms and conditions of, this Letter Agreement on, but no earlier than, close of business on the Separation Date, you will receive severance payments equal to 12 months of base pay, totaling $325,000, less deductions
pursuant to applicable tax withholding laws and regulations on the schedule in this paragraph. Following the execution of this Agreement and the expiration of any revocation period and beginning on September 9, 2011, the Company will pay any
retroactive severance payments due to you for the time period between the Separation Date and September 9, 2011. After September 9, 2011, payment will be made to you semi-monthly concurrent with the regular payroll schedule. If you do not
execute and return this Letter Agreement on the Separation Date, your right to receive payments under this Letter Agreement shall be forfeited. 
 3. Your medical, dental, vision, and prescription benefits to which you were entitled during your employment with the Company and under which you had elected coverage shall cease as of the Separation
Date. You shall be entitled to continue these benefits for the twelve months following your Separation Date otherwise pursuant to Section 4980B of the Internal 

 
Revenue Code of 1986, as amended (“COBRA”). Provided you execute this Letter Agreement on, and no earlier than, close of business on the Separation Date, the Company shall pay
the COBRA premiums for such benefits for the earlier of one year following your Separation Date or such time as you become eligible for substantially similar benefits from another employer. You agree that you will provide prompt notice to the
Company when you obtain coverage from another employer. Your right to continue coverage pursuant to COBRA shall be governed by applicable law and the terms of the plans and programs, and will be explained to you in a packet to be sent to you under
separate cover. 
 4. Except as otherwise provided herein, your final wages and unused vacation accrued through the Separation
Date will be paid to you on the Separation Date. 
 5. The Company will pay you $65,000 as your 2010 Q4 Special Incentive
Program award for the Senior Executive Team, at the time the Company pays its other executives their awards under this program. You acknowledge that no other bonus or other cash incentive award is due to you for the 2010 calendar year. 

6. You agree to forego and forfeit any potential Management Incentive Plan (MIP) or other bonus for 2011, if any. 

7. For the twelve months following your Separation Date, the Company shall maintain and pay the related premiums for life insurance and
long-term disability insurance for you at the levels in effect on the Separation Date. 
 8. You are entitled to retain any
computer, printer, mobile telephone, e-mail device or similar portable equipment located at your office or home at the Separation Date; provided, however, that you will make all such devices available to the Company within 10 days of the Separation
Date in order that the Company may erase any Company-related information or data on such devices. 
 9. All of your vested stock
options shall remain exercisable until the three month anniversary of the Separation Date. Any portions of your equity awards (including option and restricted stock awards) that are not vested as of the Separation Date will immediately expire at the
close of business on the Separation Date. 
 10. All other benefit programs to which you were entitled during your employment
with the Company and under which you had elected coverage shall cease as of the Separation Date. 
 11. Except as specifically
provided in this Agreement, you understand and agree that you are not entitled to any further salary, vacation pay, sick pay, bonus, severance pay, compensation of any kind, retirement, health insurance, long-term disability, AD&D, life
insurance, or any other benefits. All such compensation and benefits shall cease as outlined above. However, you will retain your rights, if any; to retirement benefits to the extent you are eligible for them pursuant to applicable plan documents.

  
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 Confidentiality Provisions 

12. Because the information in this Letter Agreement is confidential, it is agreed that you will not disclose the terms of this Letter
Agreement to anyone, except that you may disclose the terms of this Letter Agreement to your family, attorney and/or accountant with whom you choose to consult regarding this Letter Agreement, provided they each agree to the terms of confidentiality
set forth herein or as required by law. You agree and affirm that you have complied with and will continue to comply with the restrictions on the use of proprietary information set forth in Section 8 of the employment agreement that you entered
into with the Company, dated as of July 16, 2008, as amended on December 29, 2008, May 6, 2009 and November 9, 2009 (as amended, the “Employment Agreement”). 

13. You agree that you have returned to the Company any and all office equipment, documents, files, materials, electronic information,
records, computer discs, equipment or other items in your possession or control belonging to the Company or containing any Confidential Information relating to the Company. You also agree that you have surrendered to the Company any identification
and/or company credit cards, keys, and other such items owned by the Company, excepting those items outlined in section 8 above. You further represent to the Company that you have retained no copies of any “Proprietary Information” (as
defined in Section 8 of the Employment Agreement) and will make no attempt to acquire such Proprietary Information in the future. You also agree that you have reconciled all outstanding business expenses. 

Non-Competition and Non-Solicitation 
 14. You agree that for a period of one year from the Separation Date, you will continue to comply with Section 6 of the Employment Agreement. This one year period will be extended by any period of
time in which you are in violation of such Section 6. 
 Disparaging Remarks and Publications 

15. You and the Company’s officers, directors and executive staff employees agree not to disparage each other, either now or at any
time in the future, whether through oral or written remarks or by any other action. You further agree that you will not make, or cause to be made, any references whatsoever to any of the Released Parties, or to any fictitious person or entity
intended to resemble any of the Released Parties, in any book, article, letter or any other form of publication or writing that you author or that you assist a third-party in authoring for publication or any other form of public dissemination,
provided that this prohibition does not include your stating or confirming that you have been employed by the Company for your period of employment and stating your titles, roles and responsibilities. 

Release 

16(a). You, for yourself, your heirs, assigns, successors, executors, and administrators (hereinafter collectively referred to as the
“Releasor”), in consideration of the promises and covenants set forth herein, hereby fully release and discharge the Company and its parent, subsidiaries, affiliates, officers, directors, members, shareholders, successors, partners,
principals, employees, agents, representatives, fiduciaries, attorneys, and/or anyone else 

  
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connected with each of the foregoing (collectively, the “Released Parties”), forever and unconditionally from any and all manner of action, claim, demand, damages, cause of
action, debt, sum of money, contract, covenant, controversy, agreement, promise, judgment, and demand whatsoever, in law or equity, known or unknown, existing or claimed to exist (hereinafter, collectively referred to as “Claims”)
arising from the beginning of time through the execution of this Letter Agreement, including without limitation, all Claims relating to or arising out of your employment and/or termination of employment with the Company, bonus and/or employee
benefits and/or any discrimination claim based on race, religion, color, national origin, age, sex, sexual orientation or preference, disability, retaliation, or any cause of action under the following in each case as amended: the Age Discrimination
in Employment Act of 1967, Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Civil Rights Act of 1866, the Equal Pay Act of 1963, the Americans with Disabilities Act of 1990, the Family and Medical Leave Act of 1993, the
Worker Adjustment and Retraining Notification Act, the Employee Retirement Income Security Act of 1974 (except any valid claim to recover vested benefits, if applicable), the Sarbanes-Oxley Act of 2002, any applicable Executive Order program, and
their state or local counterparts, including without limitation, applicable state statutes, including state anti-discrimination statutes and regulations, and/or any other federal, state or local law, rule, regulation, constitution or ordinance, or
under any public policy or common law or arising under any practices or procedure of the Company, and/or any claim for wrongful termination, back pay, future wage loss, any other claim, whether in tort, contract or otherwise, or any claim for costs,
fees or other expenses, including attorneys’ fees, provided, however, nothing herein shall be deemed to release any claims that you may have arising from a breach by the Company of its obligations set forth in this Letter Agreement. This
release does not prohibit you from filing an unfair labor practice charge with the National Labor Relations Board or a charge of discrimination with the Equal Employment Opportunity Commission or the Massachusetts Commission Against Discrimination
but does waive your right to recover damages or other relief associated with such proceedings. Furthermore, this release and waiver does not waive or release any rights and claims that you may have which arise after the date you execute this Letter
Agreement, and does not release any rights to indemnification that you may otherwise have or any rights you may have as a public shareholder of the Company. 
 (b). The Company and its officers, directors, successors, principals, representatives, fiduciaries, attorneys, and/or anyone else connected with each of the foregoing in consideration of the promises and
covenants set forth herein, hereby fully release and discharge you and your representatives, fiduciaries, attorneys, from any and all manner of action, claim, demand, damages, cause of action, debt, sum of money, contract, covenant, controversy,
agreement, promise, judgment, and demand whatsoever, in law or equity, known or unknown, existing or claimed to exist (hereinafter, collectively referred to as “Claims”) arising from the beginning of time through the execution of
this Letter Agreement, including without limitation, all Claims relating to or arising out of your employment and/or termination of employment with the Company, including without limitation, applicable state statutes, including federal, state or
local law, rule, regulation, constitution or ordinance, or under any public policy or common law, or any claim for costs, fees or other expenses, including attorneys’ fees. 

By signing this Letter Agreement, you acknowledge that: 
 (i) you have read and fully understand the terms of this Letter Agreement; 

  
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 (ii) you have been advised in writing by the Company and urged to consult with your
attorneys prior to signing this Letter Agreement concerning the terms of this Letter Agreement; 
 (iii) you have agreed to this
Letter Agreement knowingly and voluntarily and were not subjected to any undue influence or coercion in agreeing to its terms; 

(iv) you have been given at least 21 days to consider this Letter Agreement, and acknowledge that in the event that you execute this
Letter Agreement prior to the expiration of the 21 day period, you hereby waive the balance of said period; 

(v) you will have seven days following your execution of this Letter Agreement to revoke this Letter Agreement and
this Letter Agreement shall not become effective or enforceable until the revocation period has expired. Any revocation within this seven day period must be submitted in writing and personally delivered, or mailed by 5:30 p.m. on the 7th day following your execution of this Letter Agreement to the
undersigned at 20 William Street, Suite 310, Wellesley, Massachusetts 02481. No payment provided for in section 2 of this Letter Agreement will be made until after the seven day period has expired and this Letter Agreement has become effective. If
the Letter Agreement is revoked by you then you shall forfeit the payment and benefits provided in this Letter Agreement and the Company shall not be required to provide any such payment, benefits or other consideration; 

(vi) you agree that, by signing this Letter Agreement, you will be receiving consideration in excess of that to which you are entitled
absent providing the Release contained herein; and 
 (vii) you have agreed that no provision of this Letter Agreement may be
modified, changed, waived or discharged unless such waiver, modification, change or discharge is agreed to in writing and signed by the Company. 
 Future Cooperation 
 17. You agree to cooperate with any reasonable request
by the Company in connection with any matter with which you were involved or any existing or potential claim, investigation, administrative proceeding, lawsuit or other legal or business matter that arose during your employment by the Company;
provided, however, that such future cooperation shall not unreasonably interfere with your subsequent employment. The Company shall pay, or reimburse you for, all reasonable expenses, including but not limited to travel expenses, incurred by you in
connection with any requests by the Company for your cooperation under this section 17, provided that such expenses are directly related to such requests for cooperation. 
 Breach 
 18. You acknowledge that any breach by you of any of the terms of
this Letter Agreement, shall immediately relieve and excuse the Company from its obligations under this Letter Agreement, and the Company shall have the right to seek any other legal or equitable relief that may be available. 

  
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 Entire Agreement, Amendment and Waiver 

19. You understand that this Letter Agreement fully and completely waives and gives up all claims you may have against the Company that
are waivable under applicable law, excepting only claims to enforce this Letter Agreement. 
 20. This Letter Agreement contains
the entire understanding between you and the Company, and supersedes any and all other prior agreements, understandings, discussions, negotiations whether written or oral between you and the Company, including, without limitation, the Employment
Agreement, with the exception of the confidentiality, noncompete and nonsolicitation provisions contained in sections 6 and 8 therein and the tax provisions in Section 10, which provisions shall be interpreted to provide the Company with
cumulative rights, remedies, and protections and shall be given full force and effect. You acknowledge that neither the Company nor any representative of the Company has made any representation or promise to you other than set forth herein.

 21. This Letter Agreement shall be binding upon the parties and may not be modified in any manner, except by an instrument in
writing of concurrent or subsequent date signed by duly authorized representatives of the parties hereto. This Letter Agreement is binding upon and shall inure to the benefit of the parties and their respective agents, assigns, heirs, executors,
successors and administrators. No delay or omission by the Company in exercising any right under this Letter Agreement shall operate as a waiver of that or any other right. A waiver or consent given by the Company on any one occasion shall be
effective only in that instance and shall not be construed as a bar to or waiver of any right on any other occasion. 

Governing Law 
 22. This Letter Agreement shall be governed by the laws of the Commonwealth of Massachusetts, excluding conflicts of law principles. 

Waiver of Jury Trial 
 23. The parties hereby knowingly, voluntarily, and intentionally waive the right any of them have to a trial by jury of, under or in connection with this Letter Agreement or any agreement or document
executed in conjunction therewith or any course of conduct, statements (whether verbal or written) or actions of any party relating hereto or thereto. 
 Severability 
 24. If any of the provisions of this Letter Agreement shall
be held invalid, the remainder of this Letter Agreement shall not be affected thereby, and shall remain in full force and effect. 
 No Admissions 
 25. It is understood and agreed that this Letter Agreement
does not constitute an admission by the Company or you that any action either party has taken was unlawful or wrongful, or that any action constituted a breach of contract or violated any federal, state, or local law, policy, rule or regulation.

  
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 If the terms of this Letter Agreement are acceptable to you, please sign and date the
enclosed copies of this Letter Agreement and return both to the undersigned. A fully executed copy will be returned to you. 
  

			
	Sincerely,
	
	STREAM GLOBAL SERVICES, INC.
		
	By:	 	 /s/ Andrew Suchoff

		 	Andrew Suchoff
		 	Executive Vice President, Human Resources

  

	
	ACCEPTED AND AGREED:
	
	 /s/ Sheila M. Flaherty

	Sheila M. Flaherty
	
	Dated: March 8, 2011

  
 Page 7 of 7LICENSE AGREEMENT

 Exhibit 10.6 
 OVERTURE LICENSE AGREEMENT  
 This License Agreement is effective by
and between Overture Services, Inc. (“Overture”) and Marchex, Inc. (“Licensee”) on the date on which Licensee completes its acquisition of the domains currently owned by Name Development Ltd. (“Effective Date”).

 WITNESSETH  
 WHEREAS, Overture, as a result of its research and development and pursuant to assignment, is the owner of all right, title and interest in and to certain inventions relating to improvements in search
engine methods and apparatus for use with computer networks such as the Internet; and 
 WHEREAS, Overture and Licensee desire
to enter into this Agreement pursuant to which Overture will license to Licensee, and Licensee will license from Overture, certain patents subject to the terms and conditions hereof; 

NOW, THEREFORE, in consideration of the mutual covenants herein contained, the receipt and sufficiency of which is hereby acknowledged,
the parties agree as follows: 
 ARTICLE I 
 DEFINITIONS  
 As used in this Agreement, the following terms shall
be defined as set forth: 
 “Change in Control” means (a) a merger, consolidation or other reorganization to
which Licensee is a party, if the individuals and entities who were stockholders (or partners or members or others that hold an ownership interest) of Licensee immediately prior to the effective date of the transaction have “beneficial
ownership” (as defined in Rule 13d-3 under the Securities Exchange Act of 1934, as amended) of less than fifty percent (50%) of the total combined voting power for election of directors (or their equivalent) of the surviving entity
following the effective date of the transaction, (b) acquisition by any entity or group of direct or indirect beneficial ownership in the aggregate of then issued and outstanding securities (or other ownership interests) of Licensee in a single
transaction or a series of transactions representing in the aggregate forty percent (40%) or more of the total combined voting power of Licensee, or (c) a sale of all or substantially all of Licensee’s assets. 

“Earned Royalties” means royalties paid or payable by Licensee to Overture pursuant to Section 4.2 below. 

“Gross Revenue” means amounts earned by Licensee resulting from revenue *** attributable to the use, performance or other
exploitation of the Licensed Patents, to the extent applicable, after deducting any taxes that Licensee may be required to collect, and deducting any international sales, goods and services, VAT or similar taxes which Licensee is required to pay, if
any, excluding deductions for taxes on Licensee’s net income. *** 
  

 

	[***]	Represents material which has been redacted and filed separately with the Commission pursuant to a request for confidential treatment pursuant to Rule 24b-2 of the
Securities Exchange Act of 1934, as amended. 

  
 - 1 -

 In cases in which Licensee operates the Licensee System to provide search results for partners or
affiliates, the total revenue earned before any revenue sharing with such partners or affiliates shall be included in Gross Revenue. 
 “License” means the license granted pursuant to Section 2.1. 

“Licensed Patents” means U.S. Patent Nos. 6,269,361 (“the ‘361 patent”), *** for the ‘361, *** patents (or
respective foreign counterpart patents). 
 “Licensee System” means the “Paid Listing” systems,
technologies, methodologies, services, and products, as currently available at Licensee’s website, www.enhance.com and www.goclick.com as the same have been made available prior to the Effective Date or are made available from time to time
during the Term, by Licensee and its wholly-owned subsidiaries. 
 “Quarter” means the three-month periods ending
March 31, June 30, September 30 and December 31 of each Royalty Year. 
 “Royalty Year”
means each Royalty Year (or remainder thereof) during the term of this Agreement. 
 ARTICLE II 

GRANT OF LICENSE; ACKNOWLEDGEMENTS; RELEASE 
 2.1 Subject to the terms and conditions of this Agreement, Overture hereby grants to Licensee and its subsidiaries a worldwide non-exclusive, non-transferable, non-assignable, and non-sublicensable
limited license under the Licensed Patents to allow Licensee to use the Licensed Patents, to the extent applicable, in connection with Licensee’s operation of the Licensee System. Any entities or businesses acquired by Licensee after the
Effective Date shall be included hereunder only as of such date of acquisition, and this Agreement shall not apply to release any such after-acquired businesses or entities from potential claims based upon or arising out of the Licensed Patents
before such date of acquisition. No other license, express or implied, is granted to Licensee under any other patent, patent application, or other proprietary right of Overture. 

2.2 Licensee’s acceptance of this grant of license is not an admission of use, performance or exploitation of the Licensed Patents
in connection with the businesses of Licensee and its wholly-owned subsidiaries prior to the Effective Date, nor an obligation to use, perform or otherwise exploit the Licensed Patents in connection with its Licensee System or other businesses
during the Term hereof. Licensee shall not be restricted in any manner from licensing, developing or otherwise acquiring intellectual property that may substitute or be used in conjunction with the Licensed Patents to the extent applicable.

  
  

	[***]	Represents material which has been redacted and filed separately with the Commission pursuant to a request for confidential treatment pursuant to Rule 24b-2 of the
Securities Exchange Act of 1934, as amended. 

  
 - 2 -

 2.3 Except as to executory performances required under this Agreement, Overture hereby
unconditionally assigns, releases and absolutely and forever discharges Licensee and its wholly-owned subsidiaries at the date of this Agreement, and each of their past, present, and future officers, directors, employees, agents and representatives,
and predecessors, and each of them, from any and all claims, demands, damages, debts, losses, causes of action, costs, expenses, accounts, obligations, attorney’s fees, liabilities, actions, causes of actions and indemnities of all and any
nature whatsoever, under the law of any jurisdiction worldwide, whether known or unknown, suspected or unsuspected, whether concealed or hidden, which Overture now has, owns or holds or at any time heretofore ever had, owned or held, or could, shall
or may hereafter have, own or hold against Licensee and its wholly-owned subsidiaries, based upon or arising out of the Licensed Patents prior to the Effective Date (collectively referred to as the “Released Matters”). It is the intention
of the parties in executing this Agreement that this Agreement shall be effective as a full and final accord and satisfaction and general release of and from the Released Matters. With respect to any and all of the claims encompassed by this
Section, Overture intends to and does hereby expressly waive, to the fullest extent permitted by law, the provisions, rights, and benefits of Section 1542 of the California Civil Code, which provides that: 

A general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the
release, which if known by him must have a materially affected his settlement with the debtor. 
 Overture further agrees that it may hereafter
discover facts in addition to or different from those which are known or believed by Overture to be true with respect to the subject matter of this Section, but Overture nonetheless intends to, and does hereby fully, finally, and forever release any
and all such claims, as described above, without regard to the subsequent discovery or existence of such different or additional facts. 
 ARTICLE III 
 TERM OF LICENSE 

3.1 Unless sooner terminated in accordance with this Agreement, the License shall continue for the entirety of the term of the last to
expire (including by a final determination of invalidity or unenforceabilty) of the Licensed Patents (the “Term”). 

ARTICLE IV 
 ROYALTIES 
 4.1 As consideration for the rights granted hereunder,
and including payment for Licensee’s manufacture, offer for sale, sale and use under the Licensed patents prior to the Effective Date, Licensee shall make a one-time payment of $5,174,000.00 (the “Upfront Payment”), payable pursuant
to Article V. The amount of the Upfront Payment is inclusive of any applicable taxes under any jurisdiction worldwide. 
 4.2 In
addition, as further consideration for the rights granted herein and taking into consideration the ongoing and valuable business relationship between the parties, 

  
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Licensee shall pay to Overture a favorable royalty rate of 3.75% (“Royalty Rate”) of Licensee’s Gross Revenue through December 31, 2016, after which no further royalty
payments for the Licensed Patents shall be due. *** The amount of the Royalty Rate is inclusive of any applicable taxes under any jurisdiction worldwide. 
 4.3 Overture and Licensee are simultaneously entering into an agreement entitled Overture Master Agreement and dated the same as the Effective Date herein. The Upfront Payment will be discounted to
$4,500,000.00 provided that this amount is paid in its entirety in accordance with Section 5.1 and the Overture Master Agreement remains in effect until *** which is the *** of the *** of the Overture Master Agreement; otherwise, no discount
shall apply to any portion of the Upfront Payment. The Royalty Rate also will be discounted by 20% to 3.0% so long as the Overture Master Agreement remains in force and effect. 
 ARTICLE V 
 PAYMENTS AND REPORT 

5.1 The total amount of the Upfront Payment shall be paid within *** of the Effective Date. 

5.2 Within *** after the end of each *** thereafter, Licensee shall furnish to Overture *** in a form mutually agreed by the parties, and
certified by an officer of Licensee to be correct to the best of Licensee’s knowledge and information, setting forth the *** applied thereto, and the *** payable thereon. Each *** shall be accompanied by Licensee’s payment of the amount
due. All payments under this Agreement shall be in U.S. dollars. 
 5.3 Any payments, or portions thereof, more than *** overdue
will bear a late payment fee of ***, or, if lower, the maximum rate allowed by applicable law. 
 ARTICLE VI

 BOOKS AND RECORDS  
 6.1 Licensee shall maintain complete and accurate records and books of account in sufficient detail and form to enable determination and verification of *** until *** after the expiration or termination
of this Agreement. Overture shall have the right, at its expense (except as provided below), to audit Licensee’s books and records for the purpose of verifying *** during the term of this Agreement and for a period of *** after expiration or
termination of this 
  
  

	[***]	Represents material which has been redacted and filed separately with the Commission pursuant to a request for confidential treatment pursuant to Rule 24b-2 of the
Securities Exchange Act of 1934, as amended. 

  
 - 4 -

 
Agreement. Any audits made pursuant to this Section 6.1 shall be made not more than *** written notice, during regular business hours, by independent auditors reasonably acceptable to
Licensee. For any audit performed hereunder, if the auditor’s calculation of *** is less than *** of the figures provided by Licensee in the ***, then (i) Licensee shall also pay the reasonable cost of the audit and (ii) such audit
shall not count against the *** under this Section 6.1. 
 ARTICLE VII 

CONFIDENTIALITY  
 7.1 The terms of this Agreement are confidential. Notwithstanding the confidentiality of this Agreement, the parties may disclose the existence (but not any of its terms) of this Agreement to any third
party; provided, however, that Licensee shall not make any statements to the media or issue any other press releases whatsoever regarding this Agreement without the prior written consent of Overture. If either party determines upon the advice of
legal counsel that disclosure of this Agreement to a third party is required under applicable law, then such disclosure may be made provided that the disclosing party gives notice in writing to the other party at least *** in advance of such
disclosure and makes a good faith effort, in consultation with the other party, to take appropriate measures to ensure that the terms of this Agreement remain confidential to the extent permitted by law. 

ARTICLE VIII 
 TERMINATION  
 8.1 Overture may terminate this Agreement in its
entirety or for a particular country or website following *** written notice to Licensee, in the event Licensee: 

(a) fails to make, within the *** period set by the notice, any payment which is due and payable pursuant to this
Agreement and has been in arrears for more than ***; or 
 (b) commits a material breach of any other obligation
of this Agreement that is not cured (if capable of being cured) within the *** period set by the notice; or 

(c) becomes insolvent or, a petition in bankruptcy is filed against Licensee and is consented to, acquiesced in or remains
undismissed for ***; or makes a general assignment for the benefit of creditors, or a receiver is appointed for Licensee, and Licensee does not return to solvency before the expiration of said *** period set by the notice. 

8.2 Licensee shall have the right to terminate this Agreement for any reason upon *** prior written notice. In addition, Licensee shall
be entitled to terminate this Agreement upon *** written notice to Overture in the event of Overture’s material breach of any of the provisions or this Agreement that is not cured (if capable of being cured) within the *** period set by the
notice. 
  
  

	[***]	Represents material which has been redacted and filed separately with the Commission pursuant to a request for confidential treatment pursuant to Rule 24b-2 of the
Securities Exchange Act of 1934, as amended. 

  
 - 5 -

 8.3 Termination of this Agreement for any reason shall not affect any rights or obligations
accrued prior to the effective date of such termination, and specifically Licensee’s obligation to pay all of the ***, specified by Article IV; and Licensee’s obligations of confidentiality specified in Article VII, and the provisions of
Articles V, VI, IX, and X shall survive the termination of this Agreement. In the event of termination, *** shall become due and payable as of the date of termination. 
 8.4 The rights provided in this Article VIII shall be in addition and without prejudice to any other rights which the parties may have with respect to any breach or violations of the provisions of this
Agreement. 
 8.5 Waiver by either party of a single default or breach or of a succession of defaults or breaches shall not
deprive such party of any right to terminate this Agreement pursuant to the terms hereof upon the occasion of any subsequent default or breach. 
 ARTICLE IX 
 WARRANTIES; INDEMNIFICATION  

9.1 Overture represents and warrants that it owns the entire right, title, and interest in and to the Licensed Patents. Overture makes no
representations or warranties that any Licensed Patent is valid, or that the manufacture, use, performance or that the exploitation of the Licensee System does not infringe upon any patent or other rights of a third party. 

9.2 Limitation of Liability. NOTWITHSTANDING ANYTHING ELSE IN THIS AGREEMENT OR OTHERWISE, OVERTURE WILL NOT BE LIABLE OR OBLIGATED WITH
RESPECT TO ANY SUBJECT MATTER OF THIS AGREEMENT OR UNDER ANY CONTRACT, NEGLIGENCE, STRICT LIABILITY OR OTHER LEGAL OR EQUITABLE THEORY (a) FOR ANY ***; (b) FOR ANY COST OF PROCUREMENT OF SUBSTITUTE GOODS, TECHNOLOGY, SERVICES, OR RIGHTS;
(c) FOR ANY SPECIAL, INDIRECT, INCIDENTAL OR CONSEQUENTIAL DAMAGES; (d) FOR INTERRUPTION OF USE OR LOSS OR CORRUPTION OF DATA; OR (e) FOR ANY MATTER BEYOND ITS REASONABLE CONTROL. THE FOREGOING LIMITATION IS A FUNDAMENTAL PART OF THE
BASIS OF OVERTURE’S BARGAIN HEREUNDER. OVERTURE WOULD NOT ENTER INTO THIS AGREEMENT ABSENT SUCH LIMITATION. 
 ARTICLE
X 
 MISCELLANEOUS  
 10.1 This Agreement may not be amended except by written agreement signed by both of the parties. This Agreement is the complete and exclusive statement of the mutual understanding of the parties and
supersedes all previous written and oral agreements and communications relating to the subject matter of this Agreement. 
  

 

	[***]	Represents material which has been redacted and filed separately with the Commission pursuant to a request for confidential treatment pursuant to Rule 24b-2 of the
Securities Exchange Act of 1934, as amended. 

  
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 10.2 Any notice, report, approval or consent required or permitted hereunder shall be
sufficient only if personally delivered, delivered by a internationally recognized commercial rapid delivery courier service or mailed by certified or registered mail, return receipt requested to a party at its address set forth on the signature
page hereto or as amended by notice pursuant to this section. 
 10.3 Licensee shall comply with all foreign and United States
federal, state, and local laws, regulations, rules and orders applicable to the License granted hereunder and the subject matter set forth herein. The parties agree that they are each independent contractors and nothing in this Agreement will be
deemed to establish a joint venture, partnership, agency or employment relationship between the parties. Neither party has the right or authority to assume or create any obligation or responsibility on behalf of the other. 

10.4 Licensee shall include all notices provided by Overture regarding the Licensed Patents and the License on all websites where the
Licensed System is displayed, used or operated. Such notices shall reference the Licensed Patents and shall be pre-approved (including the location thereof on the websites) by Overture. Other than the required Licensed Patents notices, and except as
specifically provided herein, Licensee shall not use the name Overture or Yahoo! for any purpose without the prior written consent obtained from Overture in each instance. 
 10.5 Neither this Agreement nor any interest herein may be transferred, assigned or otherwise hypothecated by Licensee, directly or indirectly, voluntarily or involuntarily, in whole or in part, by
operation of law or otherwise, without the prior written consent of Overture, which shall not be unreasonably withheld, and any attempted transfer or assignment without such consent shall be void. 

10.6 Notwithstanding Section 10.5, either party may terminate this Agreement without liability to the other party upon the existence
of a Change in Control by Licensee. 

  
 - 7 -

 10.7 This Agreement shall be governed by and construed under the laws of the State of
California and the United States without regard to conflicts of laws provisions thereof and without regard to the United Nations Convention on Contracts for the International Sale of Goods. Both parties consent to the jurisdiction and venue of the
California state and U.S. federal courts in Los Angeles County for all actions related to the subject matter hereof. 
 IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed in duplicate originals by their duly authorized representatives. 
  

									
	OVERTURE SERVICES, INC.	 		 	MARCHEX, INC.
					
	By:  	 	 /s/ Ted Meisel
	 		 	By:  	 	 /s/ John Keister

	 Name: Ted Meisel

Title:   President, Overture Services, Inc.
	 		 	 Name: John Keister
 Title:   President

	  
 Overture Services, Inc.

74 North Pasadena Avenue
 Pasadena, CA
91103
	 		 	 Marchex, Inc.

413 Pine St., Suite 500
 Seattle, Washington
98101

	  
 Attention: Jeanine L. Hayes, Esq.

Telephone: 626-685-5600
 Facsimile:
626-685-5601
	 		 	 Attention: General Counsel
 Telephone: 206-331-3310
 Facsimile: 206-331-3696

  
 - 8 -

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