Document:

Exhibit
10.46

 

February 12, 2002

 

Ms. Teri Dahlbeck

14051 Saratoga-Sunnyvale Rd

Saratoga, CA  95070

 

 

Dear Teri:

 

It is a distinct pleasure to offer you the position of
Vice President of Marketing for Vicinity Corporation (the “Company”).  In this capacity you will report to the
President and CEO of the Company.  Your
start date will be March 4, 2002.

 

In accordance with current federal law, you will be
asked on your first day to provide documentation proving your eligibility to
work in the United States.

 

Upon commencement of your regular employment by the
Company, you will be eligible for the comprehensive benefits package that we
offer to our full time employees. 
Additionally, you will accrue PTO (paid time off) at a rate of 13.32
hours per month  (4 weeks per
year).  Details of this package will be
reviewed with you in your orientation on your first day of employment.

 

Your starting annualized base salary will be $225,000
paid semi-monthly.  In addition to your
base salary, you will be eligible to earn an annual performance bonus of up to
50% of your base salary paid in quarterly increments, based upon achievement of
Company financial objectives as well as individual objectives set by the
CEO.  For Q3 FY2002, your bonus will be
pro-rated against the actual salary paid during the quarter.

 

In addition to the above compensation you will be
granted an option to purchase 225,000 shares of the Company’s common stock
under the Company’s 2000 Equity Participation Plan.  The options will vest over four (4) years beginning on your date
of hire with the first 25% vesting on the twelve month anniversary of your date
of hire and 2.0833% of the remaining shares vesting on each of the next 36
monthly anniversary dates.  You will receive
the grant on the day you start with the company and the exercise price will be
the Nasdaq closing price the day before the grant.  Other details of the 2000 Equity Plan will be reviewed with you
in your orientation on your first day of regular employment.

 

 

This letter does not constitute a guarantee of employment or a contract, and either you or the Company
may terminate your employment with Vicinity Corporation at any time and for any
reason.  This offer supersedes all prior
offers, both verbal and written, and is valid through February 15, 2002.

 

Teri, we are very pleased to offer you this position, and I
am sure that you will play a key role in the future of Vicinity Corporation.  Please
confirm your acceptance of the offer by signing one copy of this letter
and returning it to me.

 

 

Cordially,

 

/s/ CHARLES W. BERGER

 

 

Charles W. Berger

President and Chief Executive Officer

 

 

 

I have read and accept the above offer:

 

 

	
   

  	
   

  
	
  /s/ TERI DAHLBECK

  	
   

  
	
  Teri Dahlbeck

  	
   

  

 

 

cc:           Human Resources<PAGE>

                                                                   Exhibit 10.19

         SHORT-TERM EXECUTIVE STOCK PURCHASE LOAN PROGRAM OF DYNEGY INC.

1.    PURPOSE. This Short-Term Executive Stock Purchase Loan Program of Dynegy
      Inc. (the "Program"), an Illinois corporation ("Dynegy"), adopted as of
      July 20, 2001 and amended as of November 15, 2001, is intended to
      facilitate the purchase, by certain executives of Dynegy and its
      affiliates (collectively, the "Company"), of shares of Dynegy's Class A
      common stock, no par value per share ("Common Stock"). The purchases
      facilitated by the Program are intended to achieve the following specific
      purposes:

            (1)   more closely align executive officers' financial interests
                  with the financial interests of Dynegy's shareholders;

            (2)   increase executive officers' motivation to manage the Company
                  as owners; and

            (3)   increase the ownership of Common Stock among senior management
                  of the Company.

2.    ELIGIBILITY. To be eligible to participate in the Program, an individual
      (the "Eligible Participant") must be an executive officer of the Company
      determined by the Program Administrator (as defined below) to be eligible
      for participation in the Program, as such determination shall be made from
      time to time. No Eligible Participant is required to participate in the
      Program.

3.    PARTICIPATION. Eligible Participants may borrow from the Company an amount
      not to exceed the product of their then-existing base salary (before
      voluntary or involuntary deductions) multiplied by two for the sole
      purpose of purchasing shares of Common Stock and paying brokerage
      commissions in connection therewith. Eligible Participants may make any
      number of borrowings from the Company, so long as the aggregate amount of
      such borrowings does not exceed the applicable threshold set forth in the
      preceding sentence. Such borrowings will be made available to Eligible
      Participants until the earlier of (1) June 30, 2002 and (2) the date of
      the Company's implementation of a long-term stock purchase loan program,
      if any.

4.    PURCHASE OF SHARES. As a condition to the Company's obligation to lend
      money for a Common Stock purchase by an Eligible Participant, such
      Eligible Participant shall (1) execute a promissory note in favor of the
      appropriate Company payee, the form of which is attached hereto as
      Appendix A (the "Promissory Note"), and (2) request such Common Stock
      purchase and the related loan pursuant to the instructions for same as
      communicated by the Program Administrator or its designee. All such
      purchases shall be effected by Salomon Smith Barney or such other broker
      as the Program Administrator shall designate (the "Broker") in accordance
      with Rule 10b-18 under the Securities Exchange Act of 1934, as amended
      (the "Exchange Act"). Eligible Participants are responsible for
      determining whether such purchases are in compliance with Section 16 (the
      short-swing profit rules) of the Exchange Act. In accordance with the
      terms and provisions of the Program, the Company shall promptly provide
      the requested loans to Eligible Participants by advancing the funds for
      such purchases, including the brokerage commissions payable in connection
      therewith, to the Broker. Upon settlement of each such purchase, the
      purchased shares will be transferred as appropriate to the accounts of the
      requesting Eligible Participants pursuant to their written instructions.

5.    SALE OF SHARES PURCHASED. Each Eligible Participant is permitted to sell
      all or any portion of the shares of Common Stock purchased pursuant to the
      Program at any time. Eligible Participants are responsible for determining
      whether such sales are in compliance with Section 16 (the short-swing
      profit rules) of the Exchange Act.

<PAGE>

6.    MARGIN REGULATIONS.

            (1)   None of the obligations of the Eligible Participants to the
                  Company hereunder is or will be secured, directly or
                  indirectly, by Margin Stock (as such term is defined in
                  Regulation U promulgated by the Board of Governors of the
                  Federal Reserve System);

            (2)   Neither the Company nor any third party acting on behalf of
                  the Company has taken or will take possession of an Eligible
                  Participant's Margin Stock to secure, directly or indirectly,
                  any of the obligations of such Eligible Participant to the
                  Company;

            (3)   The Company does not and will not have any right to prohibit
                  or, in any way, restrict such Eligible Participant from
                  selling, pledging, encumbering or otherwise disposing of any
                  Margin Stock owned by such Eligible Participant;

            (4)   Such Eligible Participant has not granted and will not grant
                  the Company or any third party acting on behalf of the Company
                  the right to accelerate repayment of any of the obligations
                  under this Program of such Eligible Participant if any of the
                  Margin Stock owned by such Eligible Participant is sold,
                  pledged, encumbered or otherwise disposed of by such Eligible
                  Participant; and

            (5)   There is no agreement or other arrangement between such
                  Eligible Participant and the Company or any third party acting
                  on behalf of the Company (and no such agreement or arrangement
                  shall be entered into so long as this Program is in effect or
                  any of the obligations of such Eligible Participant under this
                  Program remain outstanding) which the Margin Stock of an
                  Eligible Participant would be made more readily available as
                  security to the Company than to other creditors of such
                  Eligible Participant.

7.    ADMINISTRATION. The Dynegy Board of Directors (hereinafter referred to as
      the "Program Administrator") shall be charged with the administration and
      interpretation of the Program but may delegate the ministerial duties
      hereunder to such persons or groups, including committees of the Board, as
      it determines. The Program Administrator may adopt such rules as may be
      necessary or appropriate for the proper administration of the Program,
      including the acceptance of principal and interest payments on funds
      borrowed and the retention of records relating thereto. The decision of
      the Program Administrator in all matters involving the interpretation and
      application of the Program shall be final and shall be given the maximum
      possible deference allowed by law.

8.    PAYMENT OF EXPENSES. The expenses of administering the Program shall be
      paid by the Company, except those expenses which are expenses of the
      Eligible Participants.

9.    LIMITATION OF LIABILITY. Each Eligible Participant hereby agrees to
      indemnify and hold harmless the Company and any and all of its directors,
      officers, employees and agents from and against any and all losses,
      claims, damages, expenses or liabilities, joint or several, that may arise
      out of or are based upon the transactions contemplated hereby, including,
      without limitation, the failure to place a requested order to purchase
      Common Stock or any change in the market value of the Common Stock
      purchased hereunder.

10.   GOVERNING LAW. This Program shall be construed in accordance with the laws
      of the State of Texas.

11.   APPROVAL. If an Eligible Participant elects to purchase shares of Common
      Stock pursuant to the Program, such election shall constitute formal
      approval of this Program by the Eligible Participant and such Eligible
      Participant's agreement to be bound by all of the terms and conditions of
      the Program, including the Promissory Note.

<PAGE>

                                                                      APPENDIX A

        SHORT-TERM EXECUTIVE STOCK PURCHASE LOAN PROGRAM OF DYNEGY INC.

                                 PROMISSORY NOTE

                                                       ________________, 200_

        In accordance with and pursuant to the terms and conditions of that
  certain Short-Term Executive Stock Purchase Loan Program, adopted as of July
  20, 2001 and amended as of November 15, 2001 (the "Program"), by Dynegy Inc.,
  an Illinois corporation, for value received, the undersigned unconditionally
  promises and agrees to pay, as herein provided, to the order of Dynegy
  Administrative Services Company ("Payee"), at 1000 Louisiana, Suite 5800,
  Houston, Texas 77002, or at such other address given to the undersigned by
  Payee, the lesser of the principal sum of $____________ and the aggregate
  unpaid principal amount of all loans made by Payee to the undersigned pursuant
  to Section 3 of the Program, if any, in lawful money of the United States of
  America, together with interest on the unpaid principal amount thereof. Such
  interest shall be computed from (and including) the date of borrowing until
  (and excluding) the Maturity Date (as defined below) for such borrowing on the
  basis of 12 30-day months and a 365-day year, at a rate that is the greater of
  (i) 5% per annum and (ii) the then current Applicable Federal Rate for
  short-term loans as published in the Revenue Rulings issued by the United
  States Department of Treasury.

        Interest on the unpaid principal amount outstanding under each borrowing
  shall be due and payable quarterly on the 15th business day following the end
  of each calendar quarter during the term of such borrowing. Any interest
  payment not made in a timely manner will be capitalized and added to the
  principal amount of such borrowing. The entire principal amount shall be due
  and payable with respect to each borrowing on the second anniversary thereof
  (the "Maturity Date"); PROVIDED, HOWEVER, notwithstanding the foregoing, that
  the entire principal amount of any and all borrowings, together with interest
  accrued from the last interest payment date, shall be due and payable 30 days
  after the undersigned ceases to be employed for any reason (including
  retirement, death or disability) by Payee or any of its affiliates (a
  "Termination Event"). Notwithstanding anything to the contrary set forth in
  this promissory note, to the extent permitted by applicable law, Payee may
  offset any and all amounts owed Payee by the undersigned upon a Termination
  Event against any amounts owed to the undersigned from Payee or any of its
  affiliates as a result of such Termination Event to obtain full payment for
  any and all amounts owed under this promissory note.

        The undersigned is fully obligated to repay to Payee all principal,
  interest and other amounts on this promissory note when due and payable. To
  the extent permitted by applicable law, Payee may take any action relating to
  the undersigned and his or her assets, which the Program Administrator (as
  defined in the Program) deems necessary, proper or desirable, including, but
  not limited to, offsetting amounts owed to Payee against wages, fees or other
  amounts owed to the undersigned from Payee, to obtain full payment for amounts
  owed under this promissory note.

        The Payee is authorized to make (or cause to be made) appropriate
  notations on the grid attached hereto, which notations shall evidence, INTER
  ALIA, the date and amount of each loan evidenced hereby, the Maturity Date for
  each such loan and the date of, the principal amount of and the date and
  amount of each prepayment of principal and payment of interest on each such
  loan.

        It is expressly agreed and stipulated to be the intention of Payee and
  the undersigned to comply at all times with applicable laws governing the
  maximum rate or amount of interest payable on or in connection with this
  promissory note. Accordingly, if any of the transactions contemplated hereby
  would be usurious under applicable law now or hereafter governing the interest
  payable hereunder, then, in that event, notwithstanding anything to the
  contrary in this promissory note, it is agreed that the aggregate of all
  consideration that constitutes interest under applicable law that is
  contracted for, charged, taken, reserved or

<PAGE>

  received under this promissory note under no circumstances shall exceed the
  maximum amount of interest allowed by applicable law, and any excess shall be
  credited on this promissory note by Payee (or if such promissory note shall
  have been paid in full, refunded to the undersigned). Determination of the
  rate of interest for purposes of determining whether this transaction is
  usurious under any applicable laws, to the full extent permitted by applicable
  law, shall be made by amortizing, prorating, allocating and spreading
  throughout the full stated term hereof until payment in full, all sums at any
  time contracted for, charged, taken, reserved or received from the undersigned
  for the use, forbearance or detention of money in connection herewith.

        Should the principal of or interest on any borrowing under this
  promissory note or any other amount payable hereunder become due and payable
  on a Saturday, Sunday or legal holiday in the State of Texas on which banks
  are closed for business in Houston, payment in respect thereof may be made on
  the next succeeding day which is not a Saturday, Sunday or legal holiday, and
  such extension of time shall in such case be included in computing interest,
  if any, in connection with such payment.

        Principal and interest payments shall be payable by personal check,
  certified or official bank check or by wire transfer pursuant to written wire
  transfer instructions delivered by Payee to the undersigned.

        The undersigned reserves the right to prepay the outstanding principal
  balance of any borrowing under this promissory note in whole or in part, at
  any time or from time to time, without premium or penalty. Any such prepayment
  shall be made together with payment of interest accrued on the amount of
  principal being prepaid through the date of such prepayment. Principal amounts
  repaid under this promissory note may not be reborrowed.

        The undersigned hereby expressly waives presentment, demand for payment,
  notice of nonpayment, notice of dishonor, notice of protest, notice of
  acceleration or intent to accelerate, bringing of suit and diligence to taking
  any action to collect amounts owing hereunder.

        No waiver by Payee of any of its rights or remedies hereunder shall be
  considered a waiver of any other subsequent right or remedy of Payee; no delay
  or omission in the exercise by Payee of any rights or remedies shall be
  construed as a waiver of any right or remedy of Payee; and no exercise or
  enforcement of any such right shall ever be held to exhaust any right or
  remedy of Payee.

        The undersigned shall not assign or transfer any of its rights or
  obligations hereunder without the prior written consent of Payee.

         In the event that any one or more provisions of this promissory note
  shall, for any reason, be held invalid, illegal or unenforceable in any
  respect, such invalidity, illegality or unenforceability shall not affect any
  other provision of this promissory note.

        The undersigned has read this promissory note and the related Program
  document and by execution hereof agrees to be bound by, and acknowledges
  receipt of copies of, same.

        THIS PROMISSORY NOTE SHALL BE GOVERNED BY THE LAWS OF THE STATE OF
  TEXAS.

        IN WITNESS WHEREOF, the undersigned has executed this promissory note as
  of the date first set forth above.

                                          -----------------------------
                                          NAME:
                                          ADDRESS:

<PAGE>

                                  GRID SCHEDULE

            Attached to and made a part of the promissory note dated
___________________, 200_, issued by _______________________________ to Dynegy
Administrative Services Company pursuant to the Short-Term Executive Stock
Purchase Loan Program of Dynegy Inc.

<TABLE>
<CAPTION>
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                                                                             Unpaid
               Amount of      Maturity       Applicable     Principal       Principal        Notation
    Date       Borrowing        Date            Rate        Repayments     Outstanding        Made by
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<S>           <C>             <C>            <C>            <C>            <C>               <C>

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</TABLE>

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