Document:

EX-4.9

 Exhibit 4.9 

Execution Version 
 Date
13 February 2014 
 PT NAVIGATOR KHATULISTIWA 

- and - 

PT PERSONA SENTRA UTAMA 
 - and - 
 PT MAHAMERU KENCANA ABADI 

- and - 

NAVIGATOR GAS INVEST LIMITED 

- and - 

FALCON FUNDING PTE. LTD.  

- and - 

NAVIGATOR GAS L.L.C. 
  

 
 SUPPLEMENTAL DEED 

 
  

in relation to amendments to 
 (a)
the Joint Venture Agreement dated 4 August 2010 
 (b) the Ship Management dated 29 November 2010, and 

(c) the Shareholder Loan Agreement dated 4 August 2010. 

Watson, Farley & Williams Asia Practice LLP 

Singapore 

 INDEX 
  

							
	Clause	  	Page	 
			
	1	  	INTERPRETATION	  	 	2	  
	2	  	AGREEMENT OF THE PARTIES	  	 	2	  
	3	  	AMENDMENTS TO DOCUMENTS	  	 	2	  
	4	  	REPRESENTATIONS AND WARRANTIES	  	 	6	  
	5	  	COMMUNICATIONS	  	 	7	  
	6	  	SUPPLEMENTAL	  	 	7	  
	7	  	DISPUTE RESOLUTION	  	 	7	  
	8	  	GOVERNING LANGUAGE	  	 	7	  
	EXECUTION PAGES	  	 	9	  

 THIS Deed is made on 13 February 2014 

BETWEEN 
  

	(1)	PT NAVIGATOR KHATULISTIWA, a limited liability company duly incorporated under the laws of the Republic of Indonesia, and having its registered office at Globe Building, Jalan Buncit Raya Kau 31.33, Jakarta,
Indonesia 12740 (“PTNK”); 

  

	(2)	PT PESONA SENTRA UTAMA, a limited liability company duly incorporated under the laws of the Republic of Indonesia and having its registered office at Globe Building 6th Floor, Jalan Buncit Raya Kav. 31-33,
Jakarta, Indonesia 12740 (“PSU”); 

  

	(3)	PT MAHAMERU KENCANA ABADI a limited liability company duly incorporated under the laws of the Republic of Indonesia and having its registered office at Jalan Warung Buncit Raya No. 49 Mampang Prapatan
Jakarta, Indonesia 12740 (“MKA”); 

  

	(4)	NAVIGATOR GAS INVEST LIMITED (Company Registration No. 7263791), a limited liability company incorporated in England, and having an office at 150 Aldersgate Street, London EC1A 4AB, United Kingdom
(“NGIL”); 

  

	(5)	FALCON FUNDING PTE. LTD. (Company Registration Number: 201005399C), a limited liability company incorporated in Singapore whose registered office is at 7 Temasek Boulevard, #07-08, Suntec Tower One, Singapore
038987 (“FFPL”); and 

  

	(6)	NAVIGATOR GAS L.L.C., a limited liability company incorporated in Republic of The Marshall Islands whose registered address is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands,
MH96960 (“NGLLC”). 

 BACKGROUND 
  

	(A)	By a loan agreement (the “New Loan Agreement”) dated on or about the date of this Deed between (i) PTNK (as borrower) and (ii) FFPL (as lender), FFPL has agreed to make available to the PTNK a
facility of up to US$55,000,000 for the purposes of financing the acquisition of the vessel known as m.v. “Navigator Global” (the “New Vessel”). 

 

	(B)	By a joint venture agreement dated 4 August 2010 (the “JVA”) between (i) PTNK (as the company) and (ii) PSU, MKA and NGIL (as shareholders of PTNK), the parties thereto have agreed to
certain arrangements to govern (i) the management of PTNK and (ii) the rights and obligations of each shareholder of PTNK. 

  

	(C)	By a ship management agreement dated 29 November 2010 (the “Management Agreement”) between (i) PTNK (as owner) and (ii) FFPL (as manager), PTNK has agreed to appoint FFPL as manager for
the technical and crewing management of certain vessels including the vessel known as m.v. “Navigator Aries” and m.v. “Navigator Pluto” (together, the “Existing Vessels”). The parties thereto wish to extend the
management services provided by FFPL (as manager) under the Management Agreement to the New Vessel. 

  

	(D)	By a shareholder loan agreement dated 4 August 2010 (the “Shareholder Loan Agreement”) between (i) FFPL (as borrower) and (ii) NGLLC (as lender), NGLLC has agreed to make available to
FFPL a shareholder loan of up to US$106,000,000 subject to the terms and conditions therein. 

  

	(E)	This Deed sets out the terms and conditions on which the relevant parties to the Documents agree, with effect on and from the Effective Date to make consequential amendment of the Documents in connection with
PTNK’s acquisition, and related financing, of the New Vessel. 

 IT IS AGREED as follows: 
  

	1	INTERPRETATION 

  

	1.1	Defined expressions. Words and expressions defined in the New Loan Agreement shall have the same meanings when used in this Deed unless the context otherwise requires. 

 

	1.2	Definitions. In this Deed, unless the contrary intention appears: 

“Documents” means the documents referred to in Recitals (B) to (D) (inclusive). 

“Effective Date” means 15 October 2013. 

“Party” means each party to this Deed. 
  

	1.3	Application of construction and interpretation provisions of New Loan Agreement. Clauses 1.2, 1.4 and 1.5 of the New Loan Agreement apply, with any necessary modifications, to this Deed. 

 

	2	AGREEMENT OF THE PARTIES 

  

	2.1	Agreement of the Parties. Each Party agrees, subject to and upon the terms and conditions of this Deed, to the amendment of each Document to which it is a party in accordance with Clause 3 below.

  

	2.2	Effective Date. The agreement of each Party contained in Clause 2.1 shall have effect on and from the Effective Date. 

  

	3	AMENDMENTS TO DOCUMENTS 

  

	3.1	Specific amendments to the Documents. With effect on and from the Effective Date, each of the following Documents shall be, and shall be deemed by this Deed to be or have been (as the case may be) amended as
follows: 

  

	(a)	JVA. The JVA shall be amended by: 

  

	 	(i)	adding the following definitions in clause 1.1 (Definitions and Interpretation) of the JVA: 

““FFPL Loan Agreement” means the loan agreement dated 4 August 2010 (as amended and restated) entered into
between FFPL as borrower and the Navigator Gas L.L.C. as lender for the amount of up to US$161,000,000. 
 “Global Earnings”
means in relation to the Global Vessel, all moneys whatsoever which are now, or later become, payable (actually or contingently) to the Company and which arise out of the use or operation of the Global Vessel, including (but not limited to): 

 

	 	(a)	all amounts payable to the Company under the Global Time Charter and all other freight, hire and passage moneys, compensation payable to the Company in the event of requisition of the Global Vessel for hire,
remuneration for salvage and towage services, demurrage and detention moneys and damages for breach (or payments for variation or termination) of any charterparty or other contract for the employment of the Global Vessel; 

 

	 	(b)	all moneys which are at any time payable under Global Insurances in respect of loss of earnings; and 

  
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	 	(c)	if and whenever the Global Vessel is employed on terms whereby any moneys falling within paragraphs (a) or (b) are pooled or shared with any other person, that proportion of the net receipts of the relevant
pooling or sharing arrangement which is attributable to the Global Vessel. 

 “Global General Assignment”
means an assignment of the rights of the Company in the Global Time Charter, the Global Insurances, and the Global Earnings to be executed by the Company in favour of FFPL in such form and on such terms as may be acceptable to FFPL. 

“Global Hypothec” means the first priority hypothec over the Global Vessel to be executed by the Company in favour of FFPL in
such form and on such terms as may be acceptable to FFPL and acceptable to be registered with the relevant authorities in Indonesia. 

“Global Insurances” means, in relation to the Global Vessel: 

 

	 	(a)	all policies and contracts of insurance, including entries of the Global Vessel in any protection and indemnity or war risks association, which are effected in respect of the Global Vessel, the Global Earnings or
otherwise in relation to it; and 

  

	 	(b)	all rights and other assets relating to, or derived from, any of the foregoing, including any rights to a return of a premium. 

“Global Sale and Purchase Agreement” means the memorandum of agreement made or to be made between the Company and Navigator
Global L.L.C. in respect of the Global Vessel. 
 “Global Time Charter” means the time charterparty made or to be made
between Navigator Global L.L.C, the Company and the Time Charterer in relation to the Global Vessel. 
 “Global Vessel”
means the LPG carrier known as m.v. “Navigator Global” (IMO No. 9536375) currently registered under Liberian flag and to be sold by Navigator Global L.L.C to the Company pursuant to the Global Sale and Purchase Agreement and
thereafter to be registered under Indonesian flag. 
 “Global Vessel Loan” means the loan agreement with FFPL as lender and
the Company as borrower for the amount of up to US$55,000,000. 
 “Navigator Global L.L.C.” means a limited liability
company, with Company Registration No. 96960, formed in the Marshall Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH 96960. 

“Project Documents” means collectively, the Pluto Sale and Purchase Agreement, the Aries Sale and Purchase Agreement, the
Global Sale and Purchase Agreement, the Pluto Time Charter, the Aries Time Charter, the Global Time Charter, the Pluto General Assignment, the Aries General Assignment, the Global General Assignment, the Pluto Hypothec, the Aries Hypothec, the
Global Hypothec, the PSU Shares Pledge, MKA Shares Pledge, and the FFPL Loan Agreement. 
 “Vessels” means collectively, the
Aries Vessel, the Global Vessel and the Pluto Vessel.”; 

  
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	 	(ii)	amending the definition of “Deed of Establishment” in clause 1.1 (Definitions and Interpretation) of the JVA to read in its entirety as follows: 

““Deed of Establishment” means the deed of establishment No. 14 dated 23 April 2010 made before Surjadi, S.H.,
notary in Jakarta, which has been approved by the Minister of Law and Human Rights of the Republic of Indonesia under decree No. AHU.22044.AH.01.01.Tahun 2010 dated 29 April 2010.” 

 

	 	(iii)	amending clause 5.2 (l)(i) (Matters requiring NGIL approval) of the JVA to read in its entirety as follows: 

“5.2(l)(i) the Aries Time Charter or the Pluto Time Charter or the Global Time Charter;”; 

 

	 	(iv)	amending clause 9.3(a)(ii) (Call Option) of the JVA to read in its entirety as follows: 

“9.3(a)(ii) the Aries Time Charter, the Global Time Charter and/or the Pluto Time Charter with the Time Charterer is terminated,
cancelled, suspended or ceases to be in full force and effect for any reason whatsoever”; 
  

	 	(v)	amending clause 13.1 (a) (i) (Distribution of dividends) of the JVA to read in its entirety as follows: 

“13.1 (a) (i) after the completion of each Indonesian Financial Quarter Year of the Company, be paid dividends not exceeding
US$31,250 for that Indonesian Financial Quarter Year, such payment to be made on such dates as the Board of Commissioners may determine; and”; 
  

	 	(vi)	amending clause 13.1 (a) (ii) (Distribution of dividends) of the JVA to read in its entirety as follows: 

“13.1 (a)(ii) after the completion of each Indonesian Financial Quarter Year of the Company, be paid dividends calculated at the rate not
exceeding the aggregate of: 
  

	 	(A)	3.5% of net charterhire actually paid to and received by, the Company in respect of the Pluto Vessel only during that Indonesian Financial Quarter Year, such payment: 

 

	 	(1)	to be subject to the amount of net charterhire actually paid to and received by, the Company in respect of the Pluto Vessel only during that Indonesian Financial Quarter Year; and 

 

	 	(2)	to be made on such dates as the Board of Commissioners may determine; and 

  

	 	(B)	3.5% of net charterhire actually paid to and received by, the Company in respect of the Aries Vessel only during that Indonesian Financial Quarter Year, such payment: 

 

	 	(1)	to be subject to the amount of net charterhire actually paid to and received by, the Company in respect of the Aries Vessel only during that Indonesian Financial Quarter Year; and 

 

	 	(2)	to be made on such dates as the Board of Commissioners may determine; and 

  
 4 

	 	(C)	2.5% of net charterhire actually paid to and received by, the Company in respect of the Global Vessel only during that Indonesian Financial Quarter Year, such payment: 

 

	 	(1)	to be subject to the amount of net charterhire actually paid to and received by, the Company in respect of the Global Vessel only during that Indonesian Financial Quarter Year; and 

 

	 	(2)	to be made on such dates as the Board of Commissioners may determine. ”; 

  

	 	(vii)	inserting “,and” at the end of clause 20.2(b) (Consequences of an Event of Default) of the JVA and adding a new clause 20.2(c) immediately after clause 20.2(b) of the JVA as follows: 

“20.2(c) if PSU or MKA or the Company are the Defaulting Party, NGIL shall have the assignable option to purchase the Global Vessel from
the Company, the proceeds of which will be applied by NGIL directly to FFPL, in consideration for the amount owed to FFPL under the Global Vessel Loan up to the value of the Global Vessel at the time the option is exercised and no further
consideration if the value of the Global Vessel exceeds the aggregate of such amount at the time the option is exercised.”; and 
  

	 	(viii)	amending paragraph 3.2 of Annexure A (Representations and Warranties by the Company, PSU and MKA) of the JVA to read in its entirety as follows: 

“The Deed of Establishment (containing the Articles of Association) of the Company is set out in Deed No. 14 dated 23 April 2010
made before Surjadi, S.H., notary in Jakarta, which has been approved by the Minister of Law and Human Rights of the Republic of Indonesia under decree No. AHU.22044.AH.01.01.Tahun 2010 dated 29 April 2010.” 

 

	 	(ix)	amending paragraph (e) of Annexure B (Description of Management Services) of the JVA to read in its entirety as follows: 

“(e) in maintaining the existing Aries Time Charter, the Global Time Charter and the Pluto Time Charter with the Time Charterer.”;

  

	(b)	Management Agreement. The Management Agreement shall be amended by adding a new paragraph 3 in Schedule 1 (List of Vessels) of the Management Agreement immediately after paragraph 2 in Schedule 1 of the
Management Agreement as follows: 

 “3. m.v “Navigator Global”. 

 

	(c)	Shareholder Loan Agreement. The Shareholder Loan Agreement shall be amended by: 

  

	 	(i)	inserting the words “and m.v. “Navigator Global” at the end of the definition of “Vessel Loans” in clause 1.1 (Definitions and Interpretation) of the Shareholder Loan Agreement;

  

	 	(ii)	amending the definition of “Shareholder Loan” in clause 1.1 (Definitions and Interpretation) of the Shareholder Loan Agreement to read in its entirety as follows: 

“Shareholder Loan” means the Original Loan and Additional Loan”; 

 

	 	(iii)	adding the following definitions in clause 1.1 (Definitions and Interpretation) of the Shareholder Loan Agreement: 

  
 5 

 “Additional Loan” means the principal amount of up to US$55,000,000 advanced by the
Lender to the Borrower under this Agreement; 
 “Original Loan” means the principal amount of US$106,000,000 advanced by the Lender
to the Borrower under this Agreement”; and 
  

	 	(iv)	amending clause 3 (Relationship of the Parties) of the Shareholder Loan Agreement to read in its entirety as follows: 

“3. (a) The Lender shall make available, the Original Loan in immediately available funds to the Borrower by means of electronic
transfer to the Borrower’s Account and/or in whatever means agreed between the parties prior to 10 August 2010.” (b) Prior to 31 October 2013, the Lender shall make available, the Additional Loan in immediately available
funds to the Borrower by means of electronic transfer to the Borrower’s Account and/or in whatever means agreed between the parties.” 
  

	(c)	the definition of, and references throughout to, each Document shall be construed as if the same referred to that Document as amended and supplemented by this Deed; and 

 

	(d)	all references throughout to “this Agreement”, “hereunder” and other like expressions in each Document shall be construed as if the same referred to that Document as amended and supplemented by this
Deed. 

  

	3.2	Documents to remain in full force and effect. The Documents shall remain in full force and effect as amended and supplemented by: 

 

	(a)	the amendments to the Documents contained or referred to in Clauses 3.1; and 

  

	(b)	such further or consequential modifications as may be necessary to give full effect to the terms of this Deed. 

  

	4	REPRESENTATIONS AND WARRANTIES 

 General. Each Party represents and warrants to
each other Party as follows on the date of this Deed. 
  

	(a)	Status. It is duly incorporated and validly existing under the laws of its jurisdiction of incorporation. 

  

	(b)	Corporate power. It has the corporate capacity, and has taken all corporate action and obtained all consents necessary under applicable law for it to execute this Deed. 

 

	(c)	Consents in force. All the consents referred to in Clause 4(b) remain in force and nothing has occurred which makes any of them liable to revocation. 

 

	(d)	Legal validity, Binding obligations. This Deed constitutes legal, valid and binding obligations enforceable against it in accordance with their respective terms. 

 

	(e)	No conflicts. The execution by it of this Deed will not involve or lead to a contravention of: 

  

	 	(i)	any law or regulation; or 

  

	 	(ii)	its constitutional documents; or 

  

	 	(iii)	any contractual or other obligation or restriction which is binding on it or any of its assets. 

  
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	5	COMMUNICATIONS 

 General. The notice provisions relating to each Party in each
Document, as amended and supplemented by this Deed, shall apply to this Deed in respect of any communications to that Party as if they were expressly incorporated in this Deed with any necessary modifications. 

 

	6	SUPPLEMENTAL 

  

	6.1	Counterparts. This Deed may be executed in any number of counterparts, each of which shall be deemed an original, but all such counterparts shall together constitute but one and the same agreement. In addition,
this Deed may be entered into as an electronic transaction and may be executed by any of the Parties by means of facsimile signature transmitted to the other Party by telecopier or attachment sent by Internet email. 

 

	6.2	Third party rights. A person who is not a party to this Deed has no right under the Contracts (Rights of Third Parties) Act 1999 to enforce or to enjoy the benefit of any term of this Deed. 

 

	6.3	Costs. Each Party shall bear its own legal and other costs in relation to the preparation, negotiation and execution of this Deed. 

 

	6.4	Severability. If any one or more of the provisions of this Deed or any document executed in connection herewith shall be invalid, illegal or unenforceable in any respect under applicable law, the validity,
legality and enforceability of the remaining provisions of this Deed shall not in any way be affected or impaired. The Parties shall use their best efforts to achieve the purpose or commercial effect of the invalid, illegal or unenforceable
provision by a new legally valid provision or provisions. 

  

	7	DISPUTE RESOLUTION 

  

	7.1	English law. This Deed and any non-contractual obligations arising out of or in connection with it shall be governed by, and construed in accordance with, English law. 

 

	7.2	Arbitration. Any dispute arising out of or in connection with this Deed, including any question regarding its existence, validity or termination, shall be referred to and finally resolved by arbitration in
Singapore in accordance with the Arbitration Rules of the Singapore International Arbitration Centre (“SIAC Rules”) for the time being in force, which rules are deemed to be incorporated by reference to this clause. The Tribunal
shall consist of three arbitrators to be appointed by the Chairman of the SIAC. 

  

	7.3	Language. The language of the arbitration shall be English. 

  

	8	GOVERNING LANGUAGE 

 This Deed is made in the English language. If any of the
implementing regulations of Law No. 24 of 2009 on National Flag, Language, Emblem and Song (“Law No. 24”) require this Deed to be made in the Indonesian language, the parties to this Deed shall do so within thirty
(30) calendar days from the date such implementing regulation became effective, and the Indonesian language version shall have an effective date being the date of this Deed. In the event of any inconsistency or different interpretation between
the Indonesian and the English versions, the English language version shall prevail and the relevant Indonesian version shall be deemed to be automatically amended to conform with and to make the relevant Indonesian text consistent with the relevant
English text. Each of the parties to this Deed hereby undertakes that: (i) it has read this Deed and understood its content in English, (ii) this Deed has been entered into freely without duress and (iii) independent legal advice has
been sought by such Party prior to executing this Deed. Furthermore, each party to this Deed agrees it shall not cite or invoke Law No. 24 or any regulation issued thereunder or claim that the fact that this Deed was executed in the English
language only to (a) defend its 

  
 7 

 
non-performance or breach of its obligations under this Deed or (b) allege that this Deed is against public policy or otherwise does not constitute its legal, valid and binding obligation,
enforceable against it in accordance with its terms. 
 THIS DEED has been duly executed as a Deed on the date stated at the beginning of this Deed.

  
 8 

 EXECUTION PAGES 
  

					
	BORROWERS	 		 	
	EXECUTED as a DEED	 		 	) M. Kerry Adrianto
	by PT NAVIGATOR KHATULISTIWA	 		 	) (Director)
	acting by	 		 	) /s/ M. Kerry Adrianto
	its duly authorised	 		 	)
	attorney-in-fact in the presence of:	 		 	) /s/ Authorized Signatory
			
	EXECUTED as a DEED	 		 	) Ajie Kusumantoro
	by PT PESONA SENTRA UTAMA	 		 	) (Director)
	acting by	 		 	) /s/ Ajie Kusumantoro
	its duly authorised	 		 	)
	attorney-in-fact in the presence of:	 		 	) /s/ Authorized Signatory
			
	EXECUTED as a DEED	 		 	) M. Kerry Adrianto
	by PT MAHAMERU KENCANA ABADI	 		 	) (Director)
	acting by	 		 	) /s/ M. Kerry Adrianto
	its duly authorised	 		 	)
	attorney-in-fact in the presence of:	 		 	) /s/ Authorized Signatory
			
	EXECUTED as a DEED	 		 	)
	by NAVIGATOR GAS INVEST LIMITED	 		 	)
	acting by Niall Nolan	 		 	) /s/ Niall Nolan
	its duly authorised	 		 	)
	attorney-in-fact in the presence of:	 		 	)
			
	Nicholas D. Burns	 		 	  /s/ Nicholas D. Burns
			
	EXECUTED as a DEED	 		 	) Seah Wei Loong Matthew Linton
	by FALCON FUNDING PTE. LTD.	 		 	) /s/ Seah Wei Loong Matthew Linton
	acting by	 		 	) Trainee Solicitor 049909
	its duly authorised	 		 	)
	attorney-in-fact in the presence of:	 		 	) /s/ Authorized Signatory
			
	EXECUTED as a DEED	 		 	)
	by NAVIGATOR GAS LLC	 		 	)
	acting by David J. Butters	 		 	) /s/ David J. Butters
	its duly authorised	 		 	)
	attorney-in-fact in the presence of:	 		 	)
			
	Oeyvind Lindeman	 		 	  /s/ Oeyvind LindemanEX-10.11

 Exhibit 10.11 
 EMPLOYMENT AGREEMENT 
 This EMPLOYMENT AGREEMENT (the
“Agreement”) is made as of this 15th day of July, 2009, by and between Intersections Inc., a Delaware corporation (the “Company”), Captira Analytical, LLC, a Delaware limited liability company (“LLC”), and Steven
Sjoblad, an individual, residing at 5115 Green Farms Road, Edina, MN 55456 (the “Executive”). 
 W I T N E S S E T H:

 WHEREAS, the Executive has been employed as President of Captira Analytical, LLC, a wholly owned subsidiary of the Company
(“Captira”), pursuant to an Employment Agreement between Captira and the Executive dated August 7, 2007 (the “Captira Agreement”); and 
 WHEREAS, Captira and the Executive wish to terminate the Captira Agreement, and the Company desires to employ the Executive and the Executive desires to accept such employment upon the terms and
conditions contained in this Agreement; and 
 NOW, THEREFORE, for and in consideration of the premises and the mutual covenants
and agreements herein contained, and for other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows: 
 1. Termination of Captira Agreement; Employment by Company. As of the date hereof: 
 (a) Captira and the Executive hereby agree to terminate the Captira Agreement. The Executive hereby forever waives, releases and relinquishes any right to any payment, compensation or benefits under the
Captira Agreement; and 
 (b) The Company hereby employs the Executive, and the Executive hereby accepts employment, as Senior
Vice President of the Company under the terms and conditions set forth herein. 
 2. Term. This Agreement and the
Executive’s employment are for a term commencing on the date hereof and terminating pursuant to paragraph 6 hereto. 
 3.
Duties. 
 (a) While the Executive is employed pursuant to this Agreement, he shall perform such duties and discharge
such responsibilities as the Chief Executive Officer of the Company shall from time to time direct, which duties and responsibilities shall be commensurate with the Executive’s position. The Executive shall comply fully with all applicable
laws, rules and regulations as well as with the 

 
Company’s policies and procedures. The Executive shall devote his entire working time to the business of the Company and shall use his best efforts, skills and abilities in his diligent and
faithful performance of his duties and responsibilities hereunder. While the Executive is employed pursuant to this Agreement, he shall not engage in any other business activities or hold any office or position, regardless of whether any such
activity, office or position is pursued for profit or other pecuniary advantage, without the prior written consent of the Chief Executive Officer of the Company. Notwithstanding the foregoing, the Executive may devote up to twenty (20) hours
total in the aggregate to serving on the boards of directors of Schwans Foods and Enable Holdings, subject to compliance with the Company’s code of conduct and ethics and other rules and codes, and the right of the Company in its discretion to
revoke its consent to serving on those boards. 
 (b) The Company reserves the right for the Chief Executive Officer of the
Company from time to time to assign to the Executive additional duties and responsibilities and to delegate to other employees of the Company duties and responsibilities normally discharged by the Executive. All such assignments and delegations of
duties and responsibilities shall be made in good faith and shall not materially affect the general character of the work to be performed by the Executive. The Executive shall hold such offices and directorships in the Company and any subsidiary to
which, from time to time, the Executive may be appointed by the Chief Executive Officer of the Company. Without waiving the generality of the foregoing, the Executive agrees to continue to serve as President of Captira unless and until his
employment in such capacity is terminated by the Board of Managers of Captira. 
 4. Compensation and Related Matters. As
full compensation for the Executive’s performance of his duties and responsibilities during his employment pursuant to this Agreement, the Company shall pay the Executive the compensation and provide the benefits set forth below: 

(a) Base Salary. The Company shall pay the Executive a salary of Two Hundred Thousand Dollars ($200,000) per annum (the “Base
Salary”), less applicable withholding and other deductions, payable in accordance with the Company’s then current payroll practices. 
 (b) Bonus Plan. For the period from the date hereof through December 31, 2009, provided the Executive performs his duties to the reasonable satisfaction of the Chief Executive Officer, the
Company shall pay the Executive a bonus of $125,000, payable in three equal installments as follows: The first installment shall be paid as part of the regular bi-weekly payroll for the Company next occurring after the date hereof; and the remaining
two installments each shall be paid as part of the first regular bi-weekly payroll for the Company during the third and fourth calendar quarters of 2009, respectively. For any other period, the Executive shall be entitled to participate in any bonus
plan as is approved for him by the Chief Executive Officer and Board of Directors of the Company in their sole discretion (for such other period, the “Bonus Plan”). 

  
 2 

 (c) Equity Compensation. 

(i) The Executive hereby forever surrenders, waives, releases and relinquishes any right to the non-voting Series B membership interests
granted or required to be granted under the Captira Agreement, and any and all membership interests or other equity interest in or to Captira (the non-voting Series B membership interests, and any and all other membership or equity interests,
collectively, the “Equity Compensation”). The Executive represents and warrants to the Company that he has delivered to the Secretary of Captira any and all option certificates and other instruments representing or constituting the Equity
Compensation, and has not assigned, transferred, conveyed or otherwise allowed any other person or entity to obtain any interest whatsoever in the Equity Compensation. The Executive acknowledges and agrees that he has had access during the course of
this transaction and prior to the surrender of the Equity Compensation to such information relating to the Captira that he has desired, and has had the opportunity to ask questions of and receive answers from Captira and the Company concerning
Captira and to obtain additional information (to the extent Captira or the Company possessed such information or could acquire it without unreasonable effort or expense) necessary to verify the accuracy of any information furnished to him or to
which he had access. 
 (ii) The Executive shall receive such stock options and other equity compensation as are granted to him
by the Board of Directors of the Company in its sole discretion. 
 (d) Health Benefits. The Executive shall have the
right to participate in any standard health insurance and 401(k) plans that the Company may make available from time to time to its salaried employees generally, provided the Company is not required to offer such participation unless and until a
qualifying event occurs in accordance with the applicable plan. Until such qualifying event for the Company’s health insurance plan occurs, the Executive shall be entitled to be reimbursed by the Company for the cost of his personal Health
Savings Account during the term of this Agreement, up to a maximum amount of One Thousand Five Hundred Dollars ($1,500.00) per month. 
 (e) Leave. The Executive shall be eligible to receive and take paid leave that the Parent generally makes available to its senior executives in accordance with the Parent’s leave policies (as
may be revised from time to time). 
 5. Expenses. The Company shall reimburse the Executive for expenses which the
Executive may from time to time reasonably incur on behalf of and at the request of the Company in the performance of his responsibilities and duties under this Agreement, provided that the Executive shall be required to account to the Company for
such expenses in the manner prescribed by the Company. 

  
 3 

 6. Termination. 

(a) The following provisions shall govern the termination of this Agreement and the Executive’s employment: 

(i) This Agreement and the Executive’s employment shall terminate immediately upon the Executive’s death. 

(ii) This Agreement and the Executive’s employment shall terminate immediately upon the Executive being unable to perform his
duties and responsibilities hereunder due to his disability (as defined below). For purposes of this Agreement, the term “disability” shall mean that the Executive has been unable to perform the duties and responsibilities required of him
hereunder due to a physical and/or mental condition for a period of 90 consecutive days or 180 non-consecutive days during any 12-month period. During such period of disability, the Executive shall continue to receive the Base Salary (less any
Company-paid benefits that he receives, such as short term disability or workers compensation, during such period). 
 (iii)
This Agreement and the Executive’s employment may be terminated by the Company upon the existence of “cause” (as defined below) by delivering written notice to the Executive, which termination shall be effective on the date set forth
in such notice. For purposes of this Agreement, “cause” shall mean that the Executive: (A) has been convicted of, or entered a plea of nolo contendre to, a misdemeanor involving moral turpitude or any felony under the laws of the
United States or any state or political subdivision thereof; (B) has committed an act constituting a breach of fiduciary duty, fraud, gross negligence or willful misconduct; (C) has engaged in conduct that violated the Company’s then
existing internal policies or procedures and which is materially detrimental to the business, reputation, character or standing of the Company or any of its subsidiaries; or (D) after written notice to the Executive and a reasonable opportunity
of at least 30 days to cure, the Executive shall continue (x) to be in material breach of the terms of this Agreement; (y) to fail or refuse to attend to the material duties and responsibilities assigned to him by the Company’s Board
of Managers or the Chief Executive Officer of the Parent hereunder; or (z) to be absent excessively for reasons unrelated to disability. 
 (iv) This Agreement and the Executive’s employment may be terminated by the Company without “cause” by delivering written notice to the Executive, which termination shall be effective on
the date set forth in such notice. 
 (b) If the Executive’s employment is terminated: (i) pursuant to paragraph
6(a)(i) or 6(a)(ii); (ii) by the Executive pursuant to paragraph 6(a)(v); or (ii) by the Company pursuant to paragraph 6(a)(iii), then, unless the parties otherwise mutually agree, in full satisfaction of the Company’s obligations
under this Agreement the Executive, his beneficiaries or estate, as appropriate, shall be entitled to receive (A) the 

  
 4 

 
then current Base Salary provided for herein up to and including the effective date of termination, prorated on a daily basis; provided, however, in the event of termination due to the
Executive’s death or disability as provided in paragraph 6(a)(i) or 6(a)(ii), respectively, then his then current Base Salary shall continue to be paid up to the end of the month in which the death or termination due to disability occurs;
(B) any bonus due at the time of termination under the Bonus Plan; (C) medical benefit continuation at the Executive’s and/or his dependent’s expense as provided by law; provided, however, in the event of termination due to the
Executive’s death or disability as provided in paragraph 6(a)(i) or 6(a)(ii), respectively, then the Company will pay the cost of the Executive’s medical benefit continuation for Executive and any covered dependents for up to 18 months or
until the Executive and/or his covered dependents are covered by another company’s group health insurance, whichever is sooner; and (D) benefits, if any, payable upon the Executive’s death or disability, respectively. 

(c) If the Executive’s employment is terminated: (i) by the Company pursuant to paragraph 6(a)(iv), then, unless the parties
otherwise mutually agree, in full satisfaction of the Company’s obligations under this Agreement the Executive, his beneficiaries or estate, as appropriate, shall be entitled to receive: (A) the then current Base Salary provided for herein
up to and including the effective date of termination, prorated on a daily basis; (B) any bonus due at the time of termination under the Bonus Plan; (C) severance in an amount equal to one half of the total of the cash compensation (base
salary plus bonus) paid to the Executive during the twelve months immediately preceding the date of termination, in exchange for a general release in form and content satisfactory to the Company to be paid in one payment upon such release becoming
effective; and (D) medical benefit continuation at the Executive’s and/or his dependent’s expense as provided by law. 
 (v) This Agreement and the Executive’s employment may be terminated by the Executive by delivering written notice to the Company’s Chief Executive Officer, which termination shall be effective
ninety days after the date of delivery of such notice or on such earlier date as is determined by the Company. 
 7.
Proprietary Rights, Confidentiality and Non-Competition. 
 (a) Application. For purposes of this paragraph 7, the
term “Company” includes the Company and each of its direct and indirect subsidiaries and affiliates. 
 (b)
Proprietary Information. Executive understands that the Company possesses and will possess Proprietary Information, which is important to its business. For purposes of this Agreement, “Proprietary Information” is information that
was or will be developed, created, or discovered by or on behalf of the Company, or which became or will become known by, or was or is conveyed to the Company, which has commercial value in and to the Company’s business. “Proprietary
Information” includes, without limitation, information (whether conveyed orally or in writing) about algorithms, application programming interfaces, protocols, trade secrets, computer software, designs, technology, ideas, know-how, products,
services, processes, data, 

  
 5 

 
techniques, improvements, inventions (whether patentable or not), works of authorship, business and product development plans, the salaries and terms of compensation of Company’s employees,
customer lists and other information concerning the Company’s actual or anticipated business, research or development, or which is received in confidence by or for the Company from any other person. Executive understands that his employment
with the Company creates a relationship of confidence and trust between Executive and the Company with respect to Proprietary Information. 
 (c) Company Materials. Executive understands that the Company possesses or will possess “Company Materials” which are important to its business. For purposes of this Agreement,
“Company Materials” are documents or other media or tangible items that contain or embody Proprietary Information or any other information concerning the business, operations or plans of the Company, whether such documents have been
prepared by Executive or by others. “Company Materials” include, without limitation, blueprints, drawings, photographs, charts, graphs, notebooks, customer lists, computer software, media or printouts, sound recordings and other printed,
typewritten or handwritten documents, as well as samples, prototypes, models, products and the like. 
 (d) Third Party
Information. Executive also understands that the Company has received and may, in the future, receive confidential or proprietary information from third parties (“Third Party Information) subject to a duty on the Company’s part to
maintain the confidentiality of such information and to use it only for certain limited purposes. During the term of Executive’s employment with the Company and thereafter, Executive will hold Third Party Information in the strictest confidence
and will not use or disclose to anyone (except in connection with Executive’s work for the Company) any Third Party Information, unless expressly authorized in writing by an executive officer of the Parent. 

(e) Intellectual Property. In consideration of the compensation received by Executive from the Company from time to time and for
his employment and continued employment by the Company, Executive hereby agrees as follows: 
 (i) All Proprietary Information
and all right, title and interest in and to any patents, patent rights, copyrights, mask work rights, trade secret rights, trademarks, and other intellectual property and proprietary rights anywhere in the world (collectively “Rights”) in
connection therewith shall be the sole property of the Company. Executive hereby assigns to the Company any Rights Executive may have or acquire in such Proprietary Information. Without limiting the foregoing, all original works of authorship which
are made by Executive (solely or jointly with others) within the scope of his employment with Company and which are protectable by copyright are “works made for hire,” as that term is defined in the United States Copyright Act of 1976, 17
U.S.C. § 101, and shall also be considered Proprietary Information owned by Company. At all times, both during Executive’s employment with the Company and after his termination and/or completion, Executive will keep in confidence and trust
and will not use or disclose any Proprietary Information or anything relating to it without the prior written consent of an officer of the Parent except as may be necessary and appropriate in the ordinary course of Executive performing his duties to
the Company. 

  
 6 

 (ii) All Company Materials shall be the sole property of the Company. Executive agrees that
during his employment with the Company, Executive will not remove any Company Materials from the business premises of the Company or deliver any Company Materials to any person or entity outside the Company, except as Executive may be required to do
in connection with performing the duties of his employment with Company. Executive further agrees that immediately upon the termination or end of Executive’s employment with the Company or during Executive’s employment with Company if so
requested by the Company, Executive will return all Company Materials, apparatus, equipment and other physical property, or any reproduction of such property, excepting only (A) Executive’s personal copies of records relating to his
compensation; (B) Executive’s personal copies of any materials previously distributed generally to stockholders of the Company; and (C) Executive’s copy of this Agreement. 

(iii) Executive will promptly disclose in writing to his immediate supervisor at the Company or to any persons designated by the
Company, all “Inventions”, (which term includes improvements, inventions (whether or not patentable), works of authorship, trade secrets, technology, algorithms, computer software, protocols, formulas, compositions, ideas, designs,
processes, techniques, know-how and data) made or conceived or reduced to practice or developed by Executive (in whole or in part, either alone or jointly with others) during the term of Executive’s employment with Company. Executive will also
disclose to the Company Inventions conceived, reduced to practice, or developed by Executive within six (6) months of the termination of Executive’s employment with the Company; such disclosures shall be received by the Company in
confidence, to the extent they are not assigned in paragraph 7(e)(iv) below, and do not extend such assignment. Executive will not disclose Inventions covered by paragraph 7(e)(iv) to any person outside the Company unless Executive is requested to
do so by management personnel of the Parent. 
 (iv) Executive agrees that all Inventions which he makes, conceives, reduces to
practice or develops (in whole or in part, either alone or jointly with others) during his employment with Company shall be the sole property of the Company to the maximum extent permitted by law, and Executive hereby assigns such Inventions and all
Rights therein to the Company. The Company shall be the sole owner of all Rights in connection therewith. No assignment in this Agreement shall extend to inventions, the assignment of which is prohibited by law. 

(v) Executive agrees to perform, during and after his employment with the Company, all acts deemed necessary or desirable by the Company
to permit and assist it, at the Company’s expense, in evidencing, perfecting, obtaining, maintaining, defending and enforcing its Rights and/or Executive’s assignment to the Company with respect to any Inventions in any and all countries.
Such acts may include, without limitation, execution of documents and assistance or cooperation in legal proceedings. Executive hereby irrevocably designates and appoints the Company and its duly authorized officers and agents to act for and on
Executive’s behalf and instead of Executive, to execute and file any documents and to do all other lawfully permitted acts to further the above purposes with the same legal force and effect as if executed by Executive. 

  
 7 

 (vi) Any assignment of copyright hereunder includes all rights of paternity, integrity,
disclosure and withdrawal, and any other rights that may be known as or referred to as “moral rights” (collectively “Moral Rights”). To the extent such Moral Rights cannot be assigned under applicable law and to the extent the
following is allowed by the laws in the various countries where Moral Rights exist, Executive hereby waives such Moral Rights and consents to any action of the Company that would violate such Moral Rights in the absence of such consent. Executive
will confirm any such waivers and consents from time to time as requested by the Company. 
 (f) Non-Solicitation. During
the term of Executive’s employment with the Company and for one (1) year thereafter, Executive will not encourage or solicit any employee or consultant of the Company to leave the Company for any reason. However, this obligation shall not
affect any responsibility Executive may have as an employee of the Company with respect to the bona fide hiring and firing of Company personnel. 
 (g) Non-Competition. In consideration for Executive’s employment by Company and the compensation and other benefits Executive receives from Company, Executive agrees that during his employment
with the Company and for a period of one (1) year thereafter he will not engage in any employment, business, or activity that is in any way competitive with the business or proposed business of the Company, and Executive will not assist any
other person or organization in competing with the Company or in preparing to engage in competition with the business or proposed business of the Company. 
 (h) No Conflict with Obligation to Third Parties. Executive represents that his performance of all the terms of this Agreement will not breach any agreement to keep in confidence proprietary
information acquired by Executive in confidence or in trust prior to Executive’s employment with the Company. Executive has not entered into, and Executive agrees he will not enter into, any agreement either written or oral in conflict herewith
or in conflict with Executive’s employment with the Company. 
 (i) Return of Information and Materials. Upon
termination of this Agreement for any reason, Executive shall return to Company or, at Company’s sole discretion, destroy any and all Proprietary Information and/or Company Materials and any Third Party Information provided to Executive by
Company, and all copies thereof from all storage media in Executive’s possession. Any license Executive may have with respect to any and all Proprietary Information and/or Company Materials and any Third Party Information provided to Executive
by Company shall immediately terminate and Executive shall promptly cease all use of Proprietary Information and/or Company Materials and any Third Party Information provided to Executive by Company. 

(j) Executive’s Representations and Warranties. Executive represents and warrants that (i) he is the sole creator and
original author of any Inventions submitted to the Company; (ii) to his knowledge, any Inventions he submits to Company 

  
 8 

 
do not infringe any copyright, trademark, trade secret, or other proprietary right and are not the subject of any lien, collateral assignment, security interest, or any other restriction or
encumbrance; (iii) except as Company and Executive may expressly agree in writing in advance, Company does not need any license, permission or other agreement from any third party to use, reproduce, sell, license, alter, pledge, mortgage, or
otherwise exploit any Invention submitted by Executive to Company; and (iv) he will comply with all federal, state, and local laws and regulations applicable to the Executive’s employment by Company or any other obligations under this
Agreement. 
 (k) Indemnification Obligations. Executive agrees to indemnify and hold harmless Company, its employees,
agents, subsidiaries, affiliates, legal representatives, successors and assigns from and against all suits, claims, damages, and liabilities, including attorneys’ fees, arising out of Executive’s breach of any warranties or representations
in paragraph 7(j). 
 (l) Cooperation. The Executive agrees, upon reasonable notice, to cooperate fully with the Company
and its legal counsel on any matters relating to the conduct of any litigation, claim, suit, investigation or proceeding involving the Company in connection with any facts or circumstances occurring during the Executive’s employment with the
Company in which the Company reasonably determines that the Executive’s cooperation is necessary or appropriate; provided, however, that the Company shall pay all reasonable, pre-approved out-of-pocket expenses of the Executive for providing
such cooperation. 
 (m) Injunctive Relief; Remedy. The Executive acknowledges that a breach or threatened breach of any
of the terms set forth in this paragraph 7 shall result in an irreparable and continuing harm to the Company for which there shall be no adequate remedy at law. The Company shall, without posting a bond, be entitled to seek injunctive and other
equitable relief, in addition to any other remedies available to the Company. All expenses, including, without limitation, attorney’s fees and expenses incurred in connection with any legal proceeding arising as a result of a breach or
threatened breach of paragraph 7 of this Agreement shall be borne by the losing party to the fullest extent permitted by law and the losing party hereby agrees to indemnify and hold the other party harmless from and against all such expenses.

 (n) Essential and Independent Agreements. It is understood by the parties hereto that the Executive’s obligations
and the restrictions and remedies set forth in this paragraph 7 are essential elements of this Agreement and that but for his agreement to comply with and/or agree to such obligations, restrictions and remedies, the Company would not have entered
into this Agreement or employed (or continued to employ) him. The Executive’s obligations and the restrictions and remedies set forth in this paragraph 7 are independent agreements and the existence of any claim or claims by him against the
Company under this Agreement or otherwise will not excuse his breach of any of his obligations or affect the restrictions and remedies set forth under this paragraph 7. 

  
 9 

 (o) Survival of Terms; Representations. The Executive’s obligations under this
paragraph 7 hereof shall remain in full force and effect notwithstanding the termination of his employment. He acknowledges that he is sophisticated in business, and that the restrictions and remedies set forth in this paragraph 7 do not create an
undue hardship on him and will not prevent him from earning a livelihood. He further acknowledges that he has had a sufficient period of time within which to review this Agreement, including, without limitation, this paragraph 7, with an attorney of
his choice and he has done so to the extent he desired. The Executive and the Company agree that the restrictions and remedies contained in this paragraph 7 are reasonable and necessary to protect the Company’s legitimate business interests
regardless of the reason for or circumstances giving rise to such termination and that he and the Company intend that such restrictions and remedies shall be enforceable to the fullest extent permissible by law. The Executive agrees that given the
scope of the Company’s business and the sophistication of the information highway, any further geographic limitation on such remedies and restrictions would deny the Company the protection to which it is entitled hereunder. If it shall be found
by a court of competent jurisdiction that any such restriction or remedy is unenforceable but would be enforceable if some part thereof were deleted or modified, then such restriction or remedy shall apply with such modification as shall be
necessary to make it enforceable to the fullest extent permissible under law. 
 8. Successors. This Agreement shall
inure to the benefit of and be binding upon the parties, their legal representatives and successors and assigns. However, the Executive’s performance hereunder is personal to the Executive and shall not be assignable by the Executive. The
Company may assign this Agreement to any affiliate or to any successor to all or substantially all of the business and/or assets of the Company, whether directly or indirectly, by purchase, merger, consolidation, acquisition of stock, or otherwise.

 9. Miscellaneous. 
 (a) Waiver; Amendment. The failure of a party to enforce any term, provision, or condition of this Agreement at any time or times shall not be deemed a waiver of that term, provision, or condition
for the future, nor shall any specific waiver of a term, provision, or condition at one time be deemed a waiver of such term, provision, or condition for any future time or times. This Agreement may be amended or modified only by a writing signed by
both parties hereto. 
 (b) Governing Law. This Agreement shall be governed and construed in accordance with the laws of
the State of Delaware, without giving effect to principles of conflicts of law. 
 (c) Tax Withholding. The payments and
benefits under this Agreement may be compensation and as such may be included in either the Executive’s W-2 earnings statements or 1099 statements. The Company may withhold from any amounts payable under this Agreement such federal, state or
local taxes as shall be required to be withheld pursuant to any applicable law or regulation. 

  
 10 

 (d) Paragraph Captions. Paragraph and other captions contained in this Agreement are
for reference purposes only and are in no way intended to describe, interpret, define or limit the scope, extent or intent of this Agreement or any provision hereof. 
 (e) Severability. Each provision of this Agreement is intended to be severable. If any term or provision hereof is illegal or invalid for any reason whatsoever, such illegality or invalidity shall
not affect the validity of the remainder of this Agreement. 
 (f) Integrated Agreement. This Agreement constitutes the
entire understanding and agreement between the parties hereto with respect to the subject matter hereof, and supersedes all prior agreements, understandings, memoranda, term sheets, conversations and negotiations relating in any respect to the
employment of the Executive by the Company during any period prior to or after the date of this Agreement, including, without limitation, the Captira Agreement, which shall be of no force and effect upon this Agreement becoming effective. There are
no agreements, understandings, restrictions, representations or warranties between the parties other than those set forth herein or herein provided for. 
 (g) Interpretation; Counterparts. No provision of this Agreement is to be interpreted for or against any party because that party drafted such provision. For purposes of this Agreement:
“herein, “hereby,” “hereinafter,” “herewith,” “hereafter” and “hereinafter” refer to this Agreement in its entirety, and not to any particular subsection or paragraph. This Agreement may be
executed in any number of counterparts, each of which shall be deemed an original, and all of which shall constitute one and the same instrument. 
 (h) Notices. All notices and other communications hereunder shall be in writing and shall be deemed to have been duly given if delivered by hand delivery, or by facsimile (with confirmation of
transmission), or by overnight courier, or by registered or certified mail, return receipt requested, postage prepaid, in each case addressed as follows: 
 If to the Executive: 
 Steven Sjoblad 

5115 Green Farms Road 
 Edina, MN 55456 
 Facsimile: (952) 938-0330 

  
 11 

 If to the Company: 
 Intersections Inc. 
 3901 Stonecroft Boulevard 

Chantilly, Virginia 20151 
 Attention: Chief Legal Officer 
 Facsimile: (703) 488-1757 

or to such other address as either party shall have furnished to the other in writing in accordance herewith. Notices and communications shall be
effective when actually received by addressee. 
 (i) No Limitations. The Executive represents his employment by the
Company hereunder does not conflict with, or breach any confidentiality, non-competition or other agreement to which he is a party or to which he may be subject. 
 IN WITNESS WHEREOF, each of the parties hereto has executed this Agreement as of the date first above written. 

 

			
	 CAPTIRA ANALYTICAL, LLC

		
	By:	 	  

	Name:	 	Michael R. Stanfield
	Title:	 	CEO
	
	 INTERSECTIONS INC.

		
	By:	 	  

	Name:	 	Michael R. Stanfield
	Title:	 	CEO
	
	 EXECUTIVE:

	
	  

	Steven Sjoblad

  
 12

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