Document:

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                                                                   Exhibit 10.10

                             EMPLOYMENT AGREEMENT
                             --------------------

     THIS EMPLOYMENT AGREEMENT (this "Agreement") is effective as of April 1,
2001 (the "Effective Date'), by and between coolsavings.com inc., a Michigan
corporation (the "Company"), and Steven M. Golden ("Golden").

                                 RECITALS:

     The Company desires to continue the employment of Golden and Golden desires
to continue to be employed by the Company, on the terms and subject to the
conditions set forth below.

     NOW, THEREFORE, in consideration of the mutual promises contained in this
Agreement, the parties agree as follows:

1.   Employment.
     ----------

     a.   The Company agrees to employ Golden and Golden accepts the employment,
     on the terms and subject to the conditions set forth below. During the term
     of employment hereunder, Golden shall at all times serve as Chairman of the
     Board and Chief Executive Officer of the Company, and shall have the
     responsibilities and authorities to do and perform diligently all such
     services, acts and things as are customarily done and performed by the
     Chairman of the Board and Chief Executive Officer of companies in similar
     business and size to the Company, including but not limited to those
     authorities and responsibilities not specifically withheld by the Board or
     shareholders in the Articles of Incorporation, as amended (the "Articles"),
     Bylaws or other agreements executed by the Company of which Golden has
     knowledge, together with such other duties as may reasonably be requested
     from time to time by the Board of Directors of the Company (the "Board"),
     which duties shall be consistent with Golden's positions as set forth
     above.

     b.   Golden shall report directly to the Board throughout the term of this
     Agreement.

     c.   For service as an officer and employee of the Company, Golden
     shall be entitled to the full protection of the applicable indemnification
     provisions of the Articles and Bylaws of the Company, as they may be
     amended from time to time, and as provided by law.

2.   Term and Location of Employment.
     --------------------------------

     Subject to the provisions for termination provided below, the term of
     Golden's employment under this Agreement shall commence on the Effective
     Date and shall continue thereafter for a period of three (3) years after
     the Effective Date. For the term of this Agreement, Golden's employment
     shall be within the immediate vicinity of Chicago,
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     Illinois.

3.   Devotion to the Company's Business.

     Golden shall devote his best efforts, knowledge, and skill, to the business
     of the Company during the term of this Agreement.

4.   Compensation.

     a.   During the term of this Agreement, the Company shall pay
     or provide, as the case may be, to Golden the compensation and other
     benefits and rights set forth in this Agreement, including but not limited
     to, those set forth in paragraphs 4, 5, 6, and 7  of this Agreement.

     b.   Base Compensation.  As compensation for the services to be performed
     hereafter, the Company shall pay to Golden, for each calendar year of this
     Agreement, a base salary (the "Base Salary") , payable in twenty-four (24)
     equal semi-monthly payments.  The Base Salary for calendar year 2001 shall
     be Three Hundred Forty Five Thousand Dollars ($345,000.00), and for each
     calendar year thereafter, it shall not be less than Three Hundred Forty
     Five Thousand Dollars ($345,000.00).

     c.   Annual Salary Increase. Golden's salary shall be reviewed at least
     once annually by the Compensation Committee or the Board of Directors,
     either of which may elect in its discretion to increase Golden's Base
     Salary at any time.

     d.   Bonuses.  Golden shall be eligible for annual performance bonuses,
     in cash and in stock options in the Company, in amounts, and payable at
     such times, as determined in the discretion of the Compensation Committee
     or the Board of Directors.

     e.   Disability.  During any period that Golden fails to perform his duties
     hereunder as a result of incapacity due to physical or mental illness (the
     "Disability Period"), Golden shall continue to receive his full Base
     Salary, bonuses and other benefits at the rate in effect for such period
     until his employment is terminated by the Company pursuant to Section 8a(5)
     hereof; provided, however, that payments so made to Golden during the
     Disability Period shall be reduced by the amounts, if any, which are paid
     to Golden at or prior to the time of any such payment under disability
     benefit plans of the Company.

5.   Benefits.

     a.   Insurance.  The Company shall provide to Golden all benefits normally
     provided to employees of the Company, including life, medical, dental and
     long term and short term disability insurance for himself, his spouse and
     eligible family members as may be determined by the Board to be consistent
     with the Company's standard policies. Additionally, the Company shall
     compensate Golden in an amount that, net of all applicable taxes, is
     sufficient to pay the premiums on a term life insurance policy on his life
     in the

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     amount of two times the Base Salary then in effect or Seven Hundred
     Fifty Thousand Dollars ($750,000.00), whichever is greater.  The Company
     shall procure such policy and pay the premium amounts directly to the
     insurer for the benefit of Golden, pay the amounts owing on such
     compensation to the appropriate taxing authorities as and when due, and
     include the gross amount paid for Golden's benefit hereunder in Golden's W2
     income.  Golden shall be the owner of such policy.  Golden shall cooperate
     with the Company in securing the term life insurance policy as set forth
     above.

     b.   Benefit Plans. Golden, at his election, may participate, during his
     employment hereunder, in all retirement plans, 401(K) plans and other
     benefit plans of the Company generally available from time to time to other
     executive employees of the Company and for which Golden qualifies under the
     terms of the plans, and nothing in this Agreement shall or shall be deemed
     to in any way affect Golden's right and benefits under any such plan except
     as expressly provided herein. Golden shall also be entitled to participate
     in any equity, stock option or other employee benefit plan that is
     generally available to senior executives. Golden's participation in and
     benefits under any such plan shall be on the terms and subject to the
     conditions specified in the governing document of the particular plan.

     c.   Annual Vacation.  Effective as of January 1 of each employment year
     hereunder, Golden shall be entitled to four (4) weeks of paid vacation time
     for such year, and up to two (2) weeks of unused vacation time in such year
     may be carried over into the next year.  Upon any termination of this
     Agreement for any reason whatsoever, unused paid vacation time to which
     Golden is entitled to in that year (including "carried over" vacation time,
     if any) shall be paid to Golden within ten (10) days of such termination
     based on the Base Salary in effect on the effective date of such
     termination.

     d.   Disability Policy. The Company shall compensate Golden in an amount
     that, net of all applicable taxes, is sufficient to pay the premiums on a
     disability insurance policy ("Disability Policy"). The Disability Policy
     shall, at a minimum, provide for the payment of 70% of Golden's Base Salary
     until he reaches the age of sixty-five (65), after a 180 day waiting
     period. The Company shall procure such policy and pay the premium amounts
     directly to the insurer for the benefit of Golden, pay the amounts owing on
     such compensation to the appropriate taxing authorities as and when due,
     and include the gross amount paid for Golden's benefit hereunder in
     Golden's W2 income. Golden shall be the owner of such policy. Golden shall
     cooperate with the Company in securing the Disability Policy as set forth
     above.

     e.   Car/Insurance. The Company shall provide Golden with a car of the same
     quality/level he currently drives (i.e. a Jaguar) and pay all insurance
     thereon. Golden shall be entitled to replace each said vehicle when such
     vehicle is two (2) years old.

     f.   Settlement of Litigation: The Company acknowledges that: (i) it and
     Golden are joint Defendants in Case No. 1999-017678-CB in the State of
     Michigan in the Circuit Court for the County of Oakland; (ii) it desired to
     accept the Mediation Award in such case in favor of Plaintiff, and it
     desired Golden to similarly accept said Mediation Award, in order to

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     terminate said case and avoid further loss of time and expenses in
     defending such litigation; and (iii) it and Golden resultantly accepted
     said Mediation Award thereby obligating them to jointly pay the amount of
     such award. Accordingly, to the extent the Company is not already obligated
     to Golden under its existing indemnity obligations to its officers and
     directors, the Company hereby agrees to pay all damages, costs and expenses
     arising out of said litigation, including but not limited to the Mediation
     Award and all attorney fees incurred, and to indemnify and hold harmless
     Golden from any and all liability whatsoever (including all costs,
     expenses, and the Mediation Award) arising out of said case. Provided
     however, Golden hereby agrees that the Company may elect in its sole
     discretion to apportion to Golden part (but not in excess of 50%) of said
     award and expenses paid by it in the event (and only in the event) it
     simultaneously compensates Golden in an amount that, net of all applicable
     taxes, is sufficient to pay the amounts so apportioned to him. The Company
     shall pay directly to the third parties entitled to receive the Mediation
     Award and said expenses the amounts owing to them. In the event the Company
     elects to so apportion as provided herein, the Company shall (x) include
     the "grossed-up" amount apportioned to Golden in Golden's W2 income, and
     (y) pay the amounts owing on such "grossed-up" compensation to the
     appropriate taxing authorities as and when due.

6.   Reimbursement of Business Expenses.

     The Company shall reimburse Golden or provide him with an expense allowance
     during the term of this Agreement for travel, mobile telephone, and other
     expenses reasonably and necessarily incurred by Golden in connection with
     the Company's business. Golden shall furnish such documentation with
     respect to reimbursement to be paid hereunder as the Company shall
     reasonably request.

7.   Issuance of Stock Options/Vesting of Current Options.

     a.   Upon execution of this Agreement, the Company shall enter into an
     award agreement with Golden granting Golden an option to purchase One
     Hundred Fifty Thousand (150,000) shares of the Company's common stock at an
     exercise price equal to the average closing price of the stock on the
     Nasdaq stock exchange during the five (5) trading days immediately
     preceding the date of execution of this Agreement (as set forth on the last
     page of this Agreement). Said options shall immediately be fully vested and
     immediately exercisable until the expiration of five (5) years after the
     date of vesting .

     b.   Upon execution of this Agreement, all stock options in the Company
     previously issued to Golden which have not vested as of such date shall
     immediately and fully vest and become immediately exercisable.

8.   Termination of Employment.

     a.   Golden's employment under this Agreement may be terminated prior to
     the date ending three (3) years after the Effective Date under the
     following circumstances only:

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          (1)  by the Company, at any time other than during a Disability Period
     under Section 4e, for any reason whatsoever or for no reason, upon not less
     than ninety (90) calendar days written notice to Golden;

          (2)  by the Company, at any time for "cause" as defined below, but
     only after written notice to Golden, and Golden's failure to cure within
     thirty (30) calendar days of receipt of such notice;

          (3)  by Golden, at any time for any reason whatsoever or for no
     reason, upon not less than ninety (90) calendar days written notice to the
     Company.

          (4)  by Golden, upon the occurrence of: (i) a failure to pay to Golden
     any monies, when due under the terms of this Agreement, within five (5)
     business days after Golden has provided written notice of such failure to
     pay; or (ii) a material breach of this Agreement by the Company that is not
     cured within thirty (30) calendar days after Golden has provided written
     notice that a breach has occurred;

          (5)  by the Company upon Golden's "permanent disability" as defined in
     Section 8c below, without prior notice; and

          (6)  automatically upon Golden's death.

     b.   For purposes hereof, for "cause" shall mean the material breach of any
     provision of this Agreement by Golden (including but not limited to a
     material breach of Section 13), or any action of Golden (or Golden's
     failure to act), which involves malfeasance, fraud, or moral turpitude, or
     which, if generally known, would or might reasonably have a material
     adverse effect on the Company and/or its reputation.

     c.   For purposes hereof, Golden's "permanent disability" shall be deemed
     to have occurred after one hundred eighty (180) consecutive days during
     which Golden, by reason of his physical or mental disability or illness,
     shall have been unable to discharge his duties under this Agreement. The
     date of permanent disability shall be the one hundred eighty first (181st)
     day. In the event either the Company or Golden, after receipt of notice of
     Golden's permanent disability from the other, disputes that Golden's
     permanent disability shall have occurred, Golden shall promptly submit to a
     physical examination by the chief of medicine of any major accredited
     hospital in Illinois and, unless such physician shall issue his written
     statement to the effect that, in his opinion, based on his diagnosis,
     Golden is capable of resuming his employment and devoting his full time and
     energy to discharging his duties within thirty (30) days after the date of
     such written statement, such permanent disability shall be deemed to have
     occurred.

     d.   No termination of employment under this Agreement shall be effective
     until the terminating party has delivered to the other party written notice
     of such termination setting

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     forth the specific subsection of this Section 8 upon which such termination
     is based. Said written notice shall be delivered to the other party as soon
     as reasonably possible after the decision to terminate has been made, but
     in no event later that the number of days required by the applicable
     subsection of this Section 8.

     Upon the effective date of any termination of Golden's employment under
     this Agreement, Golden shall be deemed to have resigned from any and all
     offices and directorships held by Golden in the Company and any entities
     controlled by the Company (the "Affiliates").

9.   Compensation Upon Termination.

     a.   In the event that the Company terminates Golden's employment pursuant
     to Section 8a(1) hereof, or if Golden terminates his employment pursuant to
     Section 8a(4), the Company shall promptly pay Golden the sum of: (i) all
     accrued compensation (including vacation time) and bonus earned through the
     effective date of termination and (ii) an amount equal to the greater of
     the present value (determined as of the effective date of termination) of
     the compensation owed Golden for the remainder of the original 3 year term
     of this Agreement or the present value (determined as of the effective date
     of termination) of Golden's Base Salary then in effect. Additionally, the
     Company shall continue to pay and provide Golden all other benefits under
     this Agreement for the remainder of the original 3 year term of this
     Agreement or one (1) year after the effective date of termination,
     whichever is later. Notwithstanding anything contained herein to the
     contrary, in the event of such termination of employment, the gross amounts
     necessary to cover the premiums on the life insurance and disability
     insurance policies under Sections 5a and 5d, and the applicable taxes
     thereon referenced in such Sections, shall be paid directly to Golden and
     he shall be responsible for the payment of the applicable taxes on all such
     gross amounts received.

     b.   In the event that the Company terminates Golden's employment pursuant
     to Section 8a(2), or if Golden terminates his employment pursuant to
     Section 8a(3), Golden shall be entitled to no further compensation or other
     benefits under this Agreement, except for any unpaid salary (including
     vacation time), bonus and benefits accrued and earned by him hereunder up
     to and including the effective date of such termination.

     c.   In the event of termination of Golden's employment under this
     Agreement due to Golden's permanent disability or death (Sections 8a(5) or
     (6)), Golden (or his successors and assigns in the event of his death)
     shall be entitled to that portion of any unpaid salary (including vacation
     time), bonus and benefits accrued and earned by him hereunder up to and
     including the effective date of such termination.

10.  Effect of Termination Upon Company Stock Options.  In the event of
     termination of Golden's employment by the Company under this Agreement for
     "cause" pursuant to Section 8a(2) or by Golden pursuant to Section 8a(3)
     hereof, all unvested stock options or other

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     stock based compensation awarded to Golden that has not vested shall lapse
     in accordance with the terms of the plan or agreement under which such
     options were granted. In all other events of termination, including but not
     limited to the Company's termination of Golden's employment under this
     Agreement without "cause" or upon the death or permanent disability of
     Golden, all stock options and other stock based compensation awarded to
     Golden that have not vested shall immediately become fully vested and
     immediately exercisable. Any Stock Option Agreements between the Company
     and Golden shall be amended to conform to the provisions of this Section
     12.

11.  Covenant Not To Compete.  During the course of Golden's employment, and for
     the following periods after the effective date of termination of Golden's
     employment:

     (i)     if Golden's employment is terminated pursuant to Sections 8a(1) or
             8a(4) of this Agreement: for a period of one (1) year from the
             effective date of termination;

     (ii)    if Golden's employment is terminated pursuant to Sections 8a(2) or
             8a(3) of this Agreement: for a period of two (2) years from the
             effective date of termination; and

     (iii)   if Golden's employment is not renewed upon expiration of this
             Agreement or is terminated pursuant to Section 8a(5) of this
             Agreement: for a period of one (1) year from the expiration of this
             Agreement or the effective date of termination;

     Golden shall not, (i) directly or indirectly, individually or on behalf of
     any person, company, enterprise or entity not now parties to this
     Agreement, or as a sole proprietor, partner, stockholder, director,
     officer, principal, agent, executive, or in any other capacity or
     relationship, engage in the Business (as defined herein), or aid or
     endeavor to assist any person, business, enterprise or legal entity, which
     is engaged or is seeking to engage in the Business, (a "Competitor"),
     except for the ownership of less than 5% of the securities of a Competitor
     which is a publicly traded company, which ownership shall not violate this
     Section; or (ii) solicit any person who is an employee of the Company to
     terminate his or her participation in the Business or to engage or
     otherwise participate in any activity which is competitive with the
     Business. For purposes of this Agreement, "Business" shall mean the direct
     marketing of promotional incentives to consumers over the Internet. Golden
     may accept employment with a Competitor provided that he does not, directly
     or indirectly, render services or assistance to any part of the business of
     the Competitor that is in any way engaged in the Business.

12.  Registration Rights.  Golden shall be granted unlimited "piggyback" rights
     to the extent permissible under the Company's current Articles and Bylaws,
     and to the maximum extent possible without breaching the terms of any
     agreement to which the Company is currently a party.   To effectuate the
     foregoing, at a minimum the Company shall use its best efforts to add
     Golden's shares covered under this Agreement to existing piggy back rights
     under Registration Agreements the Company currently has outstanding.

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13.  Confidentiality.

     a.   Golden agrees that:

     (1). Except pursuant to, and in accordance with the terms of, any
     confidentiality and nondisclosure agreements which from time to time may be
     entered into by the Company in pursuing financing, acquisitions or other
     transactions, Golden will not at any time, for so long as any Confidential
     Information (as defined below) shall remain confidential or otherwise
     remain wholly or partially protectable, either during the term of this
     Agreement or thereafter, use or disclose, directly or indirectly, to any
     person outside of the Company or any Affiliate any Confidential
     Information, except as may be required for the performance of his duties
     for the benefit of the Company; and

     (2). promptly upon the termination of this Agreement for any reason, Golden
     (or in the event of Golden's death, his personal representative) shall: (i)
     return to the Company any and all copies (whether prepared by or at the
     direction of the Company or Golden) of all records, drawings, materials,
     memoranda and other data constituting or pertaining to Confidential
     Information in Golden's possession; or (ii) certify in writing to the
     Company the destruction of, and/or his lack of possession of, all such
     materials described in subsection (1) herein.

     b.   As used in this Agreement, the term "Confidential Information" shall
     mean all business information of any nature and in any form which at the
     time or times concerned is not generally known to those persons engaged in
     business similar to that conducted or contemplated by the Company or any
     Affiliate (other than by the act or acts of an employee not authorized by
     the Company or any Affiliate to disclose such information) and which
     relates to any one or more of the aspects of the present or past business
     of the Company or any of the Affiliates or any of their respective
     predecessors. Confidential Information may include but may not be limited
     to, patents and patent applications, inventions and improvements (whether
     or not patentable), development projects, policies, processes, formulas,
     techniques, know-how, and other facts relating to sales, advertising,
     promotions, financial matters, customers, customer lists, customer
     purchases or requirements, and other trade secrets.

     c.   Golden agrees and understands that the remedy at law for any breach by
     him of this Section 13 will be inadequate and that the damages flowing from
     such breach are not readily susceptible to being measured in monetary
     terms. Accordingly, it is acknowledged that, upon adequate proof of
     Golden's violation of any legally enforceable provision of this Section 13,
     the Company shall be entitled to immediate injunctive relief and may obtain
     a temporary order restraining any threatened or further breach. Nothing in
     this Section 13 shall be deemed to limit the Company's remedies at law or
     in equity for any breach by Golden of any of the provisions of this Section
     13 that may be pursued or availed of by the Company.

14.  Arbitration.  Any dispute or controversy arising out of or relaving to this
     Agreement shall be

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     settled finally and exclusively by arbitration held in Chicago, IL in
     accordance with the Expedited Employment Arbitration Rules of the American
     Arbitration Association then in effect. Such arbitration shall be conducted
     by an arbitrator(s) appointed by the American Arbitration Association in
     accordance with its rules and any finding by such arbitrator(s) shall be
     final and binding upon the parties. Judgment upon any award rendered by the
     arbitrator(s) may be entered in any court having jurisdiction thereof, and
     the parties' consent to the jurisdiction of the courts of the State of
     Illinois for this purpose. Nothing contained in this Section 14 shall be
     construed to preclude the Company from obtaining injunctive or other
     equitable relief to secure specific performance or to otherwise prevent a
     breach or contemplated breach of this Agreement by Golden as provided in
     Section 13 hereof.

15.  Notices.  All notices, requests, consents and other communications,
     required or permitted to be given hereunder to be given under this
     Agreement shall be given in writing and shall be deemed sufficiently given,
     served and received for all purposes upon the first to occur of actual
     receipt, or delivery by generally recognized overnight courier service, or
     three (3) days after deposit in the United States mail, postage prepaid,
     registered or certified, return receipt requested addressed, to the
     following address (or to a revised address provided to the other party):

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     If to the Company:

     coolsavings.com.
     360. N. Michigan Ave.
     19th Floor
     Chicago, IL 60601

     with a copy to:

     Richard H. Rogel
     P.O. Box 1659
     Avon CO 81620-1659

     If to Golden:

     Steven S. Golden
     436 E. North Water Street
     Unit D
     Chicago, IL 60601

     In all events, with a copy to:

     Douglas J. Golden P.C.
     255 E. Brown St.
     Ste. 110
     Birmingham, MI 48009
     Attn.: Douglas J. Golden

16.  Miscellaneous.
     -------------

     a.   The provisions of this Agreement are severable and if any
     one or more provisions are determined to be illegal or otherwise
     unenforceable, in whole or in part, the remaining provisions and any
     partially unenforceable provision to the extent enforceable in any
     jurisdiction nevertheless shall be binding and enforceable.

     b.   The rights and obligations of the Company under this Agreement shall
     inure to the benefit of, and shall be binding on, the Company and its
     successors and assigns, and the rights and obligations (other than
     obligations to perform services) of Golden under this Agreement shall inure
     to the benefit of, and shall be binding upon, Golden and his heirs,
     personal representatives and assigns. This Agreement is personal to Golden
     and he may not assign his obligations under this Agreement in any manner
     whatsoever.

     c.   The failure of either party to enforce any provision or protections of
     this Agreement shall not in any way be construed as a waiver of any such
     provision or provisions, or as to
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     any future violations thereof, nor prevent that party thereafter from
     enforcing each and every other provision of this Agreement. The rights
     granted the parties herein are cumulative and the waiver of any single
     remedy shall not constitute a waiver of such party's right to assert all
     other legal remedies available to it under the circumstances.

     d.   This Agreement supersedes all agreements and understandings between
     the parties and may not be modified or terminated orally. No modification,
     termination, waiver, or attempted waiver shall be valid unless in writing
     and signed by the party against whom the same is sought to be enforced.

     e.   This Agreement shall be governed by and construed according to the
     laws of the State of Illinois.

     f.   Captions and paragraph headings used herein are for convenience and
     are not a part of this Agreement and shall not be used in construing it.

     g.   This Agreement may be executed in two or more counterparts, each of
     which shall be deemed an original, but all of which together shall
     constitute one and the same instrument. Copies (facsimile, photostatic or
     otherwise) of signatures to this Agreement will be deemed to be originals
     and may be relied on to the same extent as the originals.

     h.   The Company hereby represents and warrants unto Golden as follows: (i)
     the Company has the requisite corporate power and authority to enter into
     this Agreement and carry out the transactions contemplated hereby; (ii) the
     execution, delivery, and performance of this Agreement and consummation of
     the transactions contemplated hereby have been duly authorized by all
     requisite corporate action and do not violate any agreement by which the
     Company is bound, or any law, rule, or regulation to which the Company is
     subject; and (iii) the person executing this Agreement on behalf of the
     Company has the requisite authority to execute this Agreement, has been
     duly authorized to do so, and upon his execution, this Agreement shall be
     binding upon the Company in accordance with its terms and conditions.

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     IN WITNESS WHEREOF, the parties have executed this Employment Agreement on
the ___ day of May, 2001.

                                          COMPANY:

                                          coolsavings.com inc.
                                          a Michigan corporation

                                          ______________________________________
                                          Richard H. Rogel, Director and
                                          Chairman of the Compensation Committee

                                          GOLDEN:

                                          ______________________________________
                                          Steven M. Golden

                                       12<PAGE>
                                                                   Exhibit 10.11

                    SEVERANCE AGREEMENT AND GENERAL RELEASE

     THIS SEVERANCE AGREEMENT AND GENERAL RELEASE ("Severance Agreement") is
made between Steven M. Golden ("Golden") and coolsavings.com, inc., a Michigan
corporation, its predecessors, successors and assigns (referred to herein,
collectively and individually, as "coolsavings" or the "Company") on this 30th
day of July, 2001.

A.   REASONS FOR AGREEMENT

     1.   Golden and coolsavings entered into a Terms of Employment agreement
dated December 15, 1999 attached hereto as Exhibit A (the "Standard Terms
Agreement").

     2.   Subsequently, Golden and coolsavings entered into an Employment
Agreement dated as of April 1, 2001 attached hereto as Exhibit B (the
"Employment Agreement").

     3.   Golden's employment with coolsavings will terminate effective July 30,
2001 (the "Effective Date").

     4.   The parties desire to supercede the terms of Golden's severance under
the Employment Agreement with the "Special Termination Package" described below
and to set forth additional terms in regard to this employment separation.

B.   AGREEMENT

     For and in consideration of the mutual promises and commitments specified
herein, the parties agree as follows:

     1.   Special Termination Package. coolsavings agrees to provide to Golden
the following benefits, which are referred to as the "Special Termination
Package":

          (a)  coolsavings will pay to Golden the salary that Golden would have
received over the original term of the Employment Agreement ($1,035,000) based
on Golden's annual salary of $345,000 less that which he has already received
(the "Effective Salary Payment"); specifically, the balance of the $345,000
owing for the remainder of the employment year presently in effect (4/1/01
through 3/31/02), and $345,000 for each of the two years thereafter (4/01/02
through 3/31/03 and 4/01/03 through 3/31/04). The Effective Salary Payment shall
be paid to Golden in accordance with coolsavings' normal payroll procedures as
if Golden remained in the employ of the Company and shall be subject to normal
withholding and applicable payroll taxes.

          (b)  Until March 31, 2004, the Company shall continue to provide such
medical and dental coverage under the Company's benefit plans as may be
determined by the Board to be consistent with the Company's standard policies;
provided, however, with respect to any benefit in which Golden is no longer
eligible to participate or which otherwise reasonably cannot be continued for
him, the Company, in its sole discretion, shall until March 31, 2004, either
provide a substantially equivalent form of benefit to Golden, or pay a monthly
amount equal to the amount necessary for Golden to obtain benefits substantially
equivalent to that which Golden

<PAGE>

would have received under the Company's benefit plans; provided, further, that
if Golden accepts alternative employment during such period, the Company shall
be relieved of any obligation to provide such benefits to Golden to the extent
that the benefits are duplicative of benefits provided to Golden by his new
employer. Additionally, the Company shall pay directly to Golden a gross amount
that is sufficient to pay the premiums on a term life insurance policy on his
life in the amount of Seven Hundred Fifty Thousand Dollars ($750,000.00), and
the applicable taxes on such amount. Golden shall be responsible for the payment
of the applicable taxes on all such gross amounts received.

          (c)  Until March 31, 2004, the Company shall compensate Golden in an
amount that is sufficient to pay the premiums on a disability insurance policy
("Disability Policy") and all applicable taxes on such amount. The Disability
Policy shall, at a minimum, provide for the payment of 70% of $345,000 until he
reaches the age of sixty-five (65), after a 180-day waiting period. The gross
amounts necessary to cover the premiums on said Disability Policy and the
applicable taxes thereon shall be paid directly to Golden and he shall be
responsible for the payment of the applicable taxes on all such gross amounts
received. Golden shall be the owner of such policy.

          (d)  Until March 31, 2004, the Company shall continue to make monthly
payments with respect to the lease of Golden's Jaguar and pay all insurance
thereon; provided, if such lease terminates prior to such date, the Company
shall on a monthly basis pay Golden until March 31, 2004 a monthly amount
equivalent to the monthly lease and insurance payments applicable to such
vehicle immediately prior to the lease termination.

          (e)  The exercise price on all options to purchase shares of the
Company's common stock previously granted to Golden (including but not limited
to that option to purchase 150,000 shares granted in the Employment Agreement)
is hereby amended to fifty cents ($0.50) per share. Coolsavings hereby confirms
and agrees that all said options are fully vested and immediately exercisable
and may be exercised for a period of ten (10) years from the original date of
grant of each such option. The Company shall immediately take all action
necessary to re-issue Golden's existing options in accordance with the terms of
this subsection. Golden hereby acknowledges that such options shall be reissued
as non-qualified options and that Golden has sought and obtained his own tax
advice.

          (f)  Within 10 business days of receipt thereof, the Company shall
reimburse Golden for all reasonable and necessary business expenses incurred by
Golden since his last expense reimbursement by the Company. Golden represents
that such amount will not exceed $1000. Further, the Company shall ensure that
the last expense reimbursement check issued to Golden (which has not cleared the
bank as of this date) is paid or a replacement check issued in the same amount
by August 3, 2001.

          (g)  Golden's unlimited "piggyback" rights granted in Section 12 of
the Employment Agreement (which Section is hereby incorporated by reference)
shall remain in full force and effect.
<PAGE>

          (h)  The obligations set forth in Section 5(f) of the Employment
Agreement, "Settlement of Litigation" (which Section is hereby incorporated by
reference) shall remain in full force and effect.

          The benefits provided to Golden hereunder are unique to Golden's
termination. Nothing herein shall be deemed to establish a severance or other
employee benefit plan or program available to other coolsavings employees.

     2.   COBRA Rights. The qualifying event concerning Golden's rights under
the Consolidated Omnibus Budget Reconciliation Act, 29 U.S.C. (S) 116 et seq.
("COBRA") shall be the Effective Date.

     3.   Related Resignations and Cooperation.

          (a)  Golden is hereby deemed to have resigned as Chairman of the Board
of the Company and from all offices held in the Company, including Chief
Executive Officer. Notwithstanding Section 8 of the Employment Agreement, Golden
shall not be required to resign, and shall not be deemed to have resigned, from
coolsavings' Board of Directors and Golden shall continue to serve as a director
for the remaining term for which he has been elected and shall be eligible for
reelection.

          (b)  For sixty (60) days after the date hereof, Golden hereby agrees
to provide the Company and Matt Moog with assistance in transitioning the
responsibilities and duties of the CEO office to Moog, which assistance shall be
rendered during such regular business hours as the Company may reasonably
request; provided, Golden shall not be required to provide more than two (2)
days of service in any week or more than forty (40) hours a month.

          (c)  In furtherance of those certain transactions contemplated under
that certain Securities Purchase Agreement dated the date hereof among the
Company, Landmark Communications, Inc. and Landmark Ventures VII, LLC (the
"Purchase Agreement"), Golden acknowledges his obligations under the Voting
Agreement (as defined in the Purchase Agreement) executed as of the date hereof
and agrees to execute and deliver at the First Tranche Closing (as defined in
the Purchase Agreement), in the capacity designated for Golden therein, the
Shareholders Agreement (as defined in the Purchase Agreement).

     4.   General Release.

          (a)  Golden agrees, for himself and his heirs, representatives,
successors and assigns, that he has been separated from employment with
coolsavings as of July 30, 2001, that his Employment Agreement is terminated and
all of his rights thereunder extinguished as of such date except for the
Surviving Covenants (defined in Section B6 herein and as otherwise specifically
provided in this Severance Agreement and that he hereby waives, releases and
forever discharges and covenants not to sue coolsavings and all related
entities, their directors, officers, employees and agents, from any and all
claims, known or unknown, that he has or may have relating in any way to or
arising out of his employment with coolsavings and the termination thereof,
including but not limited to any claims of wrongful discharge, breach of express
or implied contract, fraud, misrepresentation, defamation, liability in tort,
claims of any kind that may be brought in any court or administrative agency,
any claims under Title VII of the
<PAGE>

Civil Rights Act of 1964, as amended, the Age Discrimination in Employment Act,
the Americans with Disabilities Act, the Employee Retirement Income Security
Act, the Fair Labor Standards Act, or any other federal, state or local law
relating to employment, employee benefits or the termination of employment, any
claim arising out of or relating to the Employment Agreement or any other claim
arising out of or relating to Golden's employment, except for (i) any claims for
indemnification as a director, officer or employee under any written agreement
with indemnity rights between coolsavings and Golden, under coolsavings'
Articles of Incorporation, By Laws, or any other organizational document, or as
otherwise provided by law, and (ii) any claims of breach under this Severance
Agreement, including but not limited to a breach of Section B.1 herein.

          (b)  coolsavings, for itself and its successors and assigns, hereby
waives, releases and forever discharges and covenants not to sue Golden, his
heirs and assigns, from any and all claims, known or unknown, that it has or may
have relating in any way to or arising out of his employment with coolsavings
and the termination thereof, including but not limited to any claims of breach
of express or implied contract, misrepresentation, defamation, liability in
tort, and claims of any kind that may be brought in any court or administrative
agency, except for (i) any claim arising out of Golden's fraudulent conduct as a
director and/or officer of coolsavings and (ii) any claims of breach under this
Severance Agreement, including but not limited to, a breach of the Surviving
Covenants.

          (c) Golden further agrees that he shall not seek unemployment benefits
at any time while he is receiving the Effective Salary Payment in accordance
with the terms of this Severance Agreement.

     5.   Special ADEA Waiver and Release Notification. The General Release,
paragraph B.4(a) above of this Severance Agreement, includes a waiver and
release of all claims under the Age Discrimination in Employment Act ("ADEA")
and, therefore, pursuant to the requirements of the ADEA, Golden acknowledges
that he has been (a) advised that this waiver and release includes, but is not
limited to, all claims under the ADEA arising up to and including the date of
his execution of this waiver and release, (b) advised to consult with an
attorney and/or other advisor of his choosing concerning his rights and
obligations under this Severance Agreement prior to his execution of it, (c) is
entitled to 21 days in which to consider this Severance Agreement, and (d)
advised that he has 7 days following the execution of this Severance Agreement
to revoke it by sending written notice to Matthew Moog, coolsavings.com inc.,
360 N. Michigan Avenue, 19th Floor, Chicago, Illinois 60601. Golden acknowledges
that in the event he revokes this Agreement under this Section B.5 he shall not
be entitled to the Special Termination Package.

     6.   Surviving Covenants.

          (a)  The "Surviving Covenants" are as follows:

               (i)  Golden and coolsavings acknowledge and agree that the terms
of Sections 11 and 13 of the Employment Agreement shall survive the termination
effected hereunder except that (x) the duration of the covenants in Section 11
shall be two years from the Effective Date only, and (ii) the "Business", as
defined therein, shall be deemed to include

<PAGE>

"soliciting orders for, selling, distributing, promoting or otherwise marketing
electronic delivery of coupons, gift certificates or other savings
certificates"); and

               (ii) Golden and coolsavings further acknowledge and agree that
Sections 3, 5 and 6 of the Standard Terms Agreement are incorporated herein by
this reference as if set out in full and shall survive the termination effected
hereunder.

          (b)  Golden agrees that any breach of any provision of the Surviving
Covenants may cause irreparable damage to coolsavings and that in the event of
such breach coolsavings shall have, in addition to any and all remedies of law,
the right to an injunction, specific performance or other equitable relief
(without the showing of special, imminent or irreparable damages and without any
obligation to post bond or other security or surety) to prevent the violation of
the Surviving Covenants.

          (c)  Golden hereby agrees that each provision of Section B.6(a) shall
be treated as a separate and independent clause, and the unenforceability of any
one clause shall in no way impair the enforceability of any of the other clauses
of Section B.6(a).

     7.   Assignment. coolsavings shall have the right to assign this Severance
Agreement to its successors and assigns, and all covenants and agreements and
benefits hereunder shall inure to the benefit of and be enforceable by the
parties and their respective heirs, successors and assigns.

     8.   No Waiver of Breach or Remedy. A waiver by coolsavings of the breach
of any of the provisions of this Severance Agreement by Golden shall not be
deemed a waiver by coolsavings of any subsequent breach, nor shall recourse to
any remedy hereunder be deemed a waiver of any other or further relief or remedy
provided for herein.

     9.   Governing Law. This Severance Agreement shall be governed by and
construed in accordance with the laws of the State of Illinois without giving
effect to the principles of conflicts of laws in Illinois. Any and all
controversies and claims arising out of or relating to this Agreement, or the
breach thereof, shall be settled by final and binding arbitration in accordance
with the Commercial Arbitration Rules of the American Arbitration Association
then in effect. The arbitrator shall be selected from a panel of arbitrators of
the American Arbitration Association in accordance with the rules of the
American Arbitration Association. Judgment upon the decision rendered by the
arbitrator may be entered in any court having jurisdiction thereof. Nothing
contained in this Section B.9 shall be construed to preclude the Company or
Golden from obtaining injunctive or other equitable relief. The arbitrator or
court shall award reasonable attorney's fees and costs to the substantially
prevailing party.

     10.  Entire Agreement.

          (a)  The parties understand and agree that all terms of this Severance
Agreement are contractual and are not a mere recital, and represent and warrant
that they are competent and possess the full and complete authority to covenant
and agree as herein provided.

          (b)  Golden understands, agrees, and represents that the covenants
made herein and the releases herein executed may affect rights and liabilities
of substantial extent. Golden
<PAGE>

represents and warrants that, in negotiating and executing this Severance
Agreement, he has had an adequate opportunity to consult with competent counsel
or other representatives of his choosing concerning the meaning and effect of
each term and provision hereof, and that there are no representations, promises
or agreements other than those expressly set forth in writing herein.

          (c)  The parties have carefully read this Severance Agreement in its
entirety; fully understand and agree to its terms and provisions; intend and
agree that it is final and binding and understand that, in the event of a
breach, either party may seek relief, including damages, restitution and
injunctive relief, at law or in equity, in a court of competent jurisdiction.

          (d)  If one or more of the provisions contained in this Severance
Agreement shall for any reason beheld to be excessively broad as to scope,
activity, subject or otherwise so as to be unenforceable at law, such provision
or provisions shall be construed by the appropriate judicial body by limiting or
reducing it or them, so as to be enforceable to the maximum extent compatible
with applicable law. The parties hereto hereby further agree that the language
of this Severance Agreement shall in all cases be construed as a whole according
to its fair meaning and not strictly for or against either of the parties.

          (e)  NOTWITHSTANDING ANYTHING CONTAINED IN THIS SEVERANCE AGREEMENT
WHICH CAN BE CONSTRUED TO THE CONTRARY, IN THE ABSENCE OF AN ORDER OR JUDGMENT
OF A COURT OF COMPETENT JURISDICTION, THE COMPANY SHALL NOT BE ENTITLED TO
TERMINATE, SUSPEND, DELAY, SET-OFF AGAINST, OR OTHERWISE POSTPONE OR DECREASE
ANY BENEFIT PROVIDED GOLDEN IN SECTION B.1 OF THIS AGREEMENT; PROVIDED, HOWEVER,
SHOULD THE COMPANY ALLEGE A BREACH BY GOLDEN OF ANY OF THE SURVIVING COVENANTS
HEREUNDER, THE COMPANY SHALL CONTINUE TO PERFORM AND PAY, IN FULL, ITS
OBLIGATIONS HEREUNDER, AS AND WHEN DUE, UNTIL SUCH TIME AS THE COMPANY RECEIVES
A JUDGMENT AGAINST GOLDEN, UNLESS IN CONNECTION WITH THE COMMENCEMENT OF
ARBITRATION OR LITIGATION WITH RESPECT TO SUCH BREACH THE COMPANY PAYS WHEN DUE
ALL AMOUNTS INTO AN ESCROW ACCOUNT WITH AN INDEPENDENT NATIONALLY RECOGNIZED,
FDIC INSURED COMMERCIAL BANK (OR SUCH ESCROW AGENT AS THE ARBITRATOR MAY
DESIGNATE). SUCH AMOUNTS SHALL BE HELD IN ESCROW PENDING THE RESOLUTION OF THE
ARBITRATION OR LITIGATION AT WHICH POINT THEY SHALL BE PAID OVER TO THE COMPANY
OR GOLDEN AS REQUIRED BY ANY SETTLEMENT OR JUDGMENT. ANY FAILURE OF THE COMPANY
TO TIMELY PERFORM ITS OBLIGATIONS UNDER SECTION B1 OF THIS AGREEMENT, WHICH IS
NOT CURED WITHIN FIVE (5) BUSINESS DAYS OF WRITTEN DEMAND TO CURE, SHALL BE
DEEMED A MATERIAL DEFAULT OF THIS AGREEMENT BY THE COMPANY; PROVIDED HOWEVER
THAT THE COMPANY SHALL NOT BE ENTITLED TO MORE THAN THREE (3) CURE PERIODS IN
ANY EMPLOYMENT YEAR (I.E., FROM 4/1 - 3/31). SHOULD THE COMPANY COMMIT MORE THAN
THREE (3) MATERIAL DEFAULTS UNDER THIS AGREEMENT IN ANY EMPLOYMENT YEAR, GOLDEN
SHALL BE ENTITLED TO ACCELERATE ALL MONIES PAYABLE TO HIM UNDER SECTION B1
HEREIN AND TO RECOVER ALL COSTS AND EXPENSES (INCLUDING ATTORNEY FEES) INCURRED
BY HIM IN ENFORCING THE TERMS OF THIS SEVERANCE AGREEMENT.
<PAGE>

          (f)  Notices. All notices and other communications, required or
permitted to be given under this Severance Agreement shall be given in writing
and shall be deemed sufficiently given, served and received for all purposes
upon the first to occur of actual receipt, or delivery by generally recognized
overnight courier service, or three (3) days after deposit in the United States
mail, postage prepaid, registered or certified, return receipt requested
addressed, to the following address (or to a revised address provided to the
other party):

               If to the Company:

               coolsavings.com.
               360. N. Michigan Ave.
               19th Floor
               Chicago, IL 60601

               with a copy to:

               _______________
               _______________
               _______________

               If to Golden:

               Steven M. Golden
               436 E. North Water Street
               Unit D
               Chicago, IL 60601

               with a copy to:

               Douglas J. Golden
               255 E. Brown St. Ste. 110
               Birmingham, MI 48009

     IN WITNESS WHEREOF, and intending to be legally bound, the parties have
executed the foregoing Severance Agreement this 30th day of July, 2001.

                                       COOLSAVINGS.COM INC.

____________________________           By:___________________________
Steven M. Golden                          Name:______________________
                                          Title:_____________________
<PAGE>

STATE OF _____________________
CITY/COUNTY OF _______________

     Acknowledged before me by Steven M. Golden on this _____ day of
_______________, 2001.

                              _____________________________________
                              Notary Public

     My Commission Expires:____________________

STATE OF _________________
CITY/COUNTY OF _______________

     Acknowledged before me by ________________________, _______________________
of coolsavings.com inc., on this ______ day of ___________________, 2001.

                              ______________________________________
                              Notary Public

     My Commission Expires:_________________________

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