Document:

<PAGE>   1
                                                                   EXHIBIT 10.12

                              SETTLEMENT AGREEMENT
                              AND GENERAL RELEASE

     This Settlement Agreement and General Release (the "Settlement Agreement")
is made this 1 day of February, 2000 by and among NewsReal, Inc., a Delaware
corporation ("NewsReal") with offices at 66 Canal Center Plaza, Suite 700,
Alexandria, Virginia 22314, and Catherine Michela, 47589 Griffith Place,
Sterling, Virginia 20165 ("Michela").

                                    RECITALS

     WHEREAS, NewsReal and Michela are parties to the following Agreements (i)
the Employment Agreement dated as of December 11, 1997 under which Michela
served as an Executive Officer of NewsReal (the "Employment Agreement"), (ii)
the Shareholders Agreement dated as of December 11, 1997 (the "Shareholders
Agreement"); (iii) the Amended and Restated Subscription Rights Agreement dated
as of December 11, 1997 (the "Subscription Rights Agreement"); (iv) the Amended
and Restated Stock Option Agreement dated as of March 31, 1999 (the "Amended
and Restated Stock Option Agreement"), and (v) the Performance Stock Option
Agreement dated as of March 31, 1999 (the "Performance Stock Option Agreement")
(collectively, the "Agreements");

     WHEREAS, Michela's employment with NewsReal was terminated on March 31,
1999 (the "Termination Date");

     WHEREAS, pursuant to the Subscription Rights Agreement NewsReal issued to
Michela 1991 shares of NewsReal common stock, par value .001 per share (now
199,100 shares following a stock split) ("Common Stock");

     WHEREAS, pursuant to the Amended and Restated Stock Option Agreement and
the Performance Stock Option Agreement, NewsReal granted to Michela an option
to purchase shares of Common Stock of NewsReal (the "Options"), which Options
have expired and/or been terminated by their terms; and

     WHEREAS, the parties hereto wish to settle and compromise the matters
arising between them relating to or resulting from Michela's employment with
NewsReal and termination thereof, and to execute a release and waiver of claims
in the form hereof;

     NOW THEREFORE, in consideration of the execution, delivery and performance
of this Settlement Agreement, and for other good and valuable consideration,
the parties hereto, intending to be legally bound, mutually agree as follows:

     1. Termination. Except as set forth in Section 5 hereof, the parties
acknowledge that all of the Agreements are terminated in all respects, and,
effective as of the date hereof, the parties hereto waive their respective
rights under, and compliance with the terms of, the Agreements.

<PAGE>   2
The parties acknowledge that, as a result of this Settlement Agreement, except
as set forth in Section 5 hereof, no further obligation is owed by either party
to the other under the Agreements, and neither party shall be responsible for
any further payments to the other under the Agreements. Specifically, without
limiting the generality of the foregoing, NewsReal shall no longer have any
rights under Section IV of the Subscription Agreement.

     2.   Terms of Release. NewsReal agrees (i) to pay Michela twenty thousand
dollars (U.S.$20,000.00) upon the expiration of the seven (7) day revocation
period provided for in Section 11 hereof provided that Michela has not
exercised her right of revocation within such seven (7) day period and ten
thousand dollars (U.S.$10,000) a month for twenty (20) months thereafter, the
first such monthly payment to be due and payable on March 1, 2000, and (ii) to
pay for Michela's participation in the health, dental, and vision insurance
programs, if any, of NewsReal through December 10, 2000, less all applicable
wage, FICA, and other withholding as required by law, all in consideration for
Michela's termination of employment and waiver of claims against NewsReal.

     3.   Waiver and Release by Michela. Michela hereby waives any and all
claims, charges, complaints, liabilities, obligations, promises, Agreements,
contracts, damages, actions, causes of action, suits, accrued benefits or other
liabilities of any kind or character, whether known or hereafter discovered,
arising in connection with or otherwise relating to her employment with
NewsReal, her termination therefrom or any of the Agreements, that she has or
may have against NewsReal of any kind whatsoever, including, but not limited to,
allegations of wrongful termination, breach of contract (other than in
connection with this Settlement Agreement), intentional infliction of emotional
distress, negligent infliction of emotional distress, defamation, invasion of
privacy, any action in tort or contract, any violation of any federal, state, or
local law (including, but not limited to, any violation of Title VII of the
Civil Rights Act of 1964, as amended, 42 U.S.C. Section 2000e et seq., the Civil
Rights Act of 1866, 42 U.S.C. Section 1981 et seq., the Equal Pay Act, 29 U.S.C.
Section 206, the Employee Retirement Income Security Act of 1974, as amended, 29
U.S.C. Section 1001 et seq., the Americans with Disabilities Act, 42 U.S.C.
Section 12101 et seq., the Age Discrimination Employment Act of 1967, as
amended, 29 U.S.C. Section 621 et seq., the Fair Labor Standards Act, as
amended, 29 U.S.C. Section 201 et seq., the National Labor Relations Act, 29
U.S.C. Section 151 et seq., the Family and Medical Leave Act of 1993, 29 U.S.C.
Section 2601 et seq., and the Worker Adjustment and Retraining Notification Act,
29 U.S.C. Section 2101 et seq., and any other employment or civil rights act,
any and all claims for severance pay or benefits or bonus payments under any
compensation or employee benefit plan, program, policy, contract, agreement or
other arrangement of NewsReal and does hereby remise, release and forever
discharge NewsReal and its respective officers, directors, shareholders, agents
and employees and their successors and assigns, and all other persons, firms,
partnerships, or corporations in control of, under the direction of, or in any
way presently or formerly associated with NewsReal of and from any and all
debts, claims, demands, damages, actions, causes of action, or liabilities of
any nature whatsoever arising in connection with or otherwise relating to her
employment with, and her position as an Executive of, NewsReal, the termination
of such employment, or any of the Agreements, that Michela shall or may have
against NewsReal, excluding from the application of the foregoing release and
waiver any claims, rights or liabilities for the performance of the terms and
provisions of this Settlement Agreement.

<PAGE>   3
     4.   Confidentiality. Michela agrees to hold and maintain confidential and
not disclose to any third party the terms and conditions of this Settlement
Agreement including, without limitation, the consideration provided for by this
Settlement Agreement; provided, however, that the foregoing shall not apply to
any disclosure that may be required to the extent compelled by legal process or
necessary to enforce Michela's rights hereunder. Michela further agrees not to
make any disparaging or derogatory comment about NewsReal or any of its
respective officers, directors, employees or representatives at any time
following the date of this Settlement Agreement. Michela understands and agrees
that in the event she breaches any of the terms of this Section 4, she shall
forfeit her right to receive the payment specified in Section 2, and shall be
liable to NewsReal for such amount.

     5.   Survivability of the Shareholders Agreement and Certain Provisions of
the Agreements. Michela agrees that, notwithstanding any other provisions of
this Settlement Agreement to the contrary, she will continue to be bound by (i)
the Shareholders Agreement, (ii) Sections 5 and 6 of the Employment Agreement
and (iii) Sections II and III of the Subscription Agreement.

     6.   Governing Law. This Settlement Agreement shall be governed by the
laws of the State of New York.

     7.   Payment of Legal Fees. If any party is required to engage in any
proceedings, legal or otherwise, to defend or enforce its rights under this
Settlement Agreement, such party, if successful, shall be entitled to recover
from the other party which is in breach of its duties hereunder, in addition to
any other remedy or sums due, the reasonable attorneys' fees and disbursements
and costs of such proceeding incurred in connection therewith.

     8.   Counterparts. This Settlement Agreement may be executed in more than
one counterpart, each of which shall be an original, but all of which, taken
together, shall be and remain one instrument.

     9.   Headings. The headings of the several sections of this Settlement
Agreement are inserted for convenience only and shall not control or affect the
meaning or construction of any of the provisions hereof.

     10.  Invalid Provisions. If any provision of this Settlement Agreement is
held to be illegal, invalid or unenforceable under present or future law
effective during the term hereof, such provision shall be fully severable. This
Settlement Agreement shall be construed and enforced as if such illegal,
invalid or unenforceable provision had never comprised a part hereof and the
remaining portions hereof shall remain in full force and effect and shall not
be affected by the illegal, invalid or unenforceable provision or by its
severance herefrom. Furthermore, in lieu of such illegal, invalid or
unenforceable provision, there shall be added automatically, as part of this
Settlement Agreement, a provision similar in terms to such illegal, invalid or
unenforceable provision as may be possible and be legal, valid and enforceable.

                                      -3-
<PAGE>   4
           11.  TIME FOR REVIEW; REVOCATION. Michela understands that she has
twenty-one (21) days within which to consider this Settlement Agreement and
that this Settlement Agreement is revocable by her for a period of seven (7)
days following the execution of this Settlement Agreement, and if not so
revoked, will become effective and enforceable.

           12.  REVIEW BY MICHELA AND COUNSEL. Michela expressly represents and
warrants to NewsReal that she has entered into this Settlement Agreement freely
without duress and completely read this Settlement Agreement prior to executing
it, has had an opportunity to review it with her counsel, has been offered
twenty-one (21) days within which to consider this Settlement Agreement and to
understand its terms, contents, conditions and effects and has entered into
this Settlement Agreement knowingly and voluntarily.

           13.  AMENDMENT. This Settlement Agreement may not be amended or
modified in any respect except by an Agreement in writing executed by the
parties in the same manner as this Settlement Agreement.

           14. SUCCESSORS. This Settlement Agreement shall be binding upon and
shall inure to the benefit of and be enforceable by each of the parties and
their respective successors and assigns.

           15. ENTIRE AGREEMENT. This Settlement Agreement constitutes the
entire agreement between the parties hereto with respect to the subject matter
of this Settlement Agreement and supersedes and is in full substitution for any
and all prior agreements and understandings whether written or oral between
said parties relating to the subject matter of this Settlement Agreement.

                                      -4-
<PAGE>   5

           IN WITNESS WHEREOF, the parties hereto have caused this Settlement
Agreement to be executed effective the day and year set forth above.

                                       NEWSREAL, INC.

                                       By: /s/ DAVID C. HOPPMANN
                                           __________________________
                                           Name: David C. Hoppmann
                                           Title: President & CEO

                                       CATHERINE MICHELA

                                       /s/ Catherine H. Michela
                                           __________________________
                                           Catherine Michela

                                      -5-<PAGE>   1
                                                                   EXHIBIT 10.13

                        SETTLEMENT AND RELEASE AGREEMENT

     THIS SETTLEMENT AND RELEASE AGREEMENT is made and entered into as of the
31st day of July, 1999, by and between NewsReal, Inc. ("NewsReal"), located at
66 Canal; Center Plaza, Suite 700, Alexandria, VA 22314, and Peter McKee ("Mr.
McKee"), residing at 36 Gladwish Road, Delmar, NY 12054-4420.

     WHEREAS, Mr. McKee is a holder of 199,100 shares (the "Shares") of NewsReal
common stock, par value $.001 per share ("Common Stock"), and vested, time-based
options to purchase 199,500 shares of NewsReal Common Stock (the "Options"),
which Options were granted to Mr. McKee in October 1997 following the formation
of NewsReal; and

     WHEREAS, Mr. McKee entered into an employment agreement with NewsReal dated
December 11, 1997 (the "Employment Agreement"), pursuant to which Mr. McKee
agreed to render certain services on behalf of NewsReal as Sr. Vice President of
Business Development, in exchange for a payment to Mr. McKee by NewsReal of
annual salary in the amount of $150,000 and for certain severance payments
("Severance Payments") in the event Mr. McKee is terminated without Cause or
resigns for Good Reason, as those terms are defined in the Employment Agreement;
and

     WHEREAS, Mr. McKee desires to resign from employment with NewsReal,
effective July 31, 1999, on the terms and conditions set forth herein; and

     WHEREAS, the parties to this settlement and release agreement desire to
settle any and all matters, claims and disputes between them without further
disputes regarding Mr. McKee's ownership of the Shares and the Options during
his employment with NewsReal and with respect to any Severance Payments and the
rights and obligations arising under the Employment Agreement.

     NOW, THEREFORE, IN CONSIDERATION of the terms and conditions set forth
below, the receipt and sufficiency of which are hereby acknowledged, the parties
agree as follows:

1.   Mr. McKee agrees to voluntarily resign from his position as an officer and
employee of NewsReal, effective July 31, 1999 (the "Termination Date"), as set
forth in the resignation letter attached hereto. In connection with his
resignation and subject to the terms and conditions of this settlement and
release agreement, Mr. McKee agrees that his resignation was without "Good
Reason" (as that term is defined in section 8 of the Employment Agreement) and
hereby waives now and forever any claim he has or may have to any Severance
Payments under the Employment Agreement, as further set forth in section 6
hereof. Except for the Options and as a result of his resignation hereunder, Mr.
McKee acknowledges that he shall have no further ownership rights in any other
unvested time-based or performance-based options to purchase NewsReal Common
Stock or in any other equity issued by or on behalf of NewsReal on or before the
date of this settlement and release.

2.   Subject to the terms and conditions of the Shareholders Agreement dated
December 11, 1997 and the Rights Agreement dated April 21, 1999, among NewsReal,
Mr. McKee and certain other shareholders of NewsReal (which agreements shall
remain in full force and effect and shall not be compromised or affected in any
way by this settlement and release), Mr. McKee is hereby permitted to continue
owning the Shares during and after the Extended Exercise Period (as defined in
section 3 below) and the Options during the Extended Exercise Period without
being required to sell or transfer any such Shares or Options under the "book
value" repurchase provisions of sections IV(a)(l)(ii) and

                                      -1-
<PAGE>   2
IV(c)(ii) of the Amended and Restated Subscription Agreement between Mr. McKee
and NewsReal dated December 11, 1997 (the "Subscription Agreement"). To that
end, NewsReal hereby waives such repurchase rights under the Subscription
Agreement, so long as Mr. McKee does not violate or has not violated the
non-competition/non-circumvention and confidentiality provisions of sections 5
and 6 of the Employment Agreement, which provisions shall survive the
termination of the Employment Agreement as set forth in section 5 below.

3.   NewsReal shall take any and all actions necessary to extend the exercise
period on the Options (the "Extended Exercise Period") until 5:00 p.m.
(Washington, D.C. time) on January 31, 2001.

4.   Immediately following the closing of NewsReal's next round of private
equity financing, NewsReal shall pay Mr. McKee deferred compensation in the
amount of $5,625.00, which amount NewsReal acknowledges Mr. McKee previously
loaned to NewsReal and is currently due and payable to Mr. McKee.

5.   Mr. McKee will continue to be bound by the non-competition/
non-circumvention and non-disclosure provisions of sections 5 and 6 of the
Employment Agreement for the required period following the Termination Date. In
connection therewith, NewsReal does not deem your employment with Busybox.com in
itself to be in violation of such non-competition provisions; provided, however,
NewsReal reserves the right to allege a violation of such non-competition and
non-disclosure provisions in the event Mr. McKee's activities on behalf of
Busybox.com or any other party are in direct competition with NewsReal's
business activities and further reserves all other rights and privileges granted
under the Employment Agreement in connection with remedies for violation of such
non-competition and non-disclosure provisions.

6.   Mr. McKee for himself, his successors and assigns, agents and servants,
hereby releases, acquits and forever discharges NewsReal, its successors and
assigns, and its former and present officers, directors, stockholders, agents,
servants, independent contractors and employees, from any and all manner of
action or actions, suits, claims, demands, judgments, letters or execution,
whether direct, indirect or derivative, liquidated or unliquidated, fixed or
contingent, which he, his successors and assigns, agents and servants ever had,
have or ever may have, can, shall or claim to have, relating to the ownership of
the Shares or the Options on or prior to the Termination Date, the obligation to
make any Severance Payments under the Employment Agreement or the rights or
obligations arising from or out of the Employment Agreement. Mr. McKee further
covenants and agrees that he will not voluntarily participate, either directly
as a plaintiff or complainant or indirectly as a witness or otherwise, in any
action, whether in law or in equity, against NewsReal, its former or present
officers, directors, stockholders, agents, servants, independent contractors,
employees, successors and assigns, in connection with any matter arising from or
out of his ownership of the Shares or the Options for events occurring during
his employment with the Company and the Extended Exercise Period or relating to
the Employment Agreement or any Severance Payments arising thereunder, unless
otherwise required by law. Mr. McKee agrees to indemnify and hold NewsReal, its
former or present officers, directors, stockholders, agents, servants,
independent contractors, employees, successors and assigns harmless from and
against any and all liability or causes of action that arise out of the matters
for which this release is being granted.

7.   Except as provided in section 5 above, NewsReal, for itself, its successors
and assigns, agents and servants, hereby releases, acquits and forever
discharges Mr. McKee, his successors and assigns from any and all manner of
action or actions, suits, claims, demands, judgments, letters or execution,
whether direct, indirect or derivative, liquidated or unliquidated, fixed or
contingent, which NewsReal,

                                      -2-
<PAGE>   3
its successors and assigns, agents and servants ever had, have or ever may
have, can, shall or claim to have, relating to Mr. McKee's ownership of the
Shares and the Options prior to the Termination Date and matters arising out of
Mr. McKee's employment with the Company. Except as provided in section 5 above,
NewsReal further covenants and agrees that it will not voluntarily participate,
either directly as a plaintiff or complainant or otherwise, in any action,
whether in law or in equity, against Mr. McKee, his successors and assigns, in
connection with his ownership of the Shares or the Options or relating to the
Employment Agreement. NewsReal agrees to indemnify and hold Mr. McKee, his
successors and assigns harmless from and against any and all liability or
causes of action that arise out of matters for which this release is being
granted.

8.   This settlement and release is in full and final compromise, settlement
and satisfaction of all claims by each party against the other party in
connection with the matters covered by the release, and the payment and
acceptance of the consideration herein before recited does not constitute and
shall not be construed as an admission of liability by either party, or the
waiver by either party of its other rights and obligations, which rights and
obligations shall remain in full force and effect.

9.   The terms and conditions of this settlement and release and the
circumstances surrounding Mr. McKee's employment with and resignation from
NewsReal, his ownership of the Shares and the Options and the terms and
conditions of the Employment Agreement, the Shareholders Agreement, the Rights
Agreement and all other documents executed by Mr. McKee in connection with such
matters shall be kept confidential by Mr. McKee and NewsReal, and shall not be
voluntarily disclosed by either party to any other person, business, firm,
partnership, joint venture, or corporation, or its officers, directors,
stockholders, partners, agents, venturers, representatives, servants,
independent contractors or employees, or to any agency, employee or
representative of the federal, state or District of Columbia government or any
other government without the prior written consent of the other party to this
release. The damages for breach by either party of the confidentiality
provisions in this section will cause irreparable harm to the other party and
are difficult to ascertain and, therefore, either party shall be permitted to
exercise any right or assert the existence of any remedy which he or it may
have for the breach of such confidentiality provisions, including, without
limitation, obtaining permanent injunctive or equitable relief for any such
breach.

10.  This settlement and release agreement reflects the entire agreement
between the parties, and that its terms are contractual and not merely recitals.

11.  The laws of the Commonwealth of Virginia shall govern this settlement and
release agreement, and any provision of this settlement and release which is
ruled invalid under the laws of the Commonwealth of Virginia shall be invalid
only with respect to that provision, without invalidating the remaining
provisions of this settlement and release. The parties expressly consent and
agree to be subject to the exclusive jurisdiction of the courts of the
Commonwealth of Virginia in connection with any dispute arising out of this
settlement and release agreement.

12.  Mr. McKee has read and understands the terms and conditions of this
settlement and release, and has reviewed the terms or has had the opportunity
to review the terms of this settlement and release with his attorney.

                                      -3-
<PAGE>   4
     IN WITNESS WHEREOF, the undersigned have executed this settlement and
release as of the date first written above.

NEWSREAL, INC.

By: /s/ David C. Hoppman
   ----------------------------------
David C. Hoppman, President & Chief Executive Officer

/s/ Peter McKee
--------------------------------------
Peter McKee

                                      -4-
<PAGE>   5
                                  PETER MCKEE
                                36 GLADWISH ROAD
                             DELMAR, NY 12054-4420

                                 July 31, 1999

To the Board of Directors of NewsReal, Inc.:

Gentlemen:

     I hereby resign as an officer of NewsReal, Inc., effective July 31, 1999.

                                   Sincerely,

                                   /s/ Peter McKee

                                   Peter McKee

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00016-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00016-of-00352.parquet"}]]