Document:

Exhibit 10.27

    

    

    Amendment One to

    Employment Agreement

    

    

    THIS AMENDMENT  (the “Amendment”) is entered into as of May 21, 2020 (the “Effective Date”), and amends that certain Employment Agreement
      (the “Agreement”) dated August 9, 2017,  between Identity Theft Guard Solutions, Inc. d/b/a ID Experts (“ID Experts”), and Thomas F. Kelly (“Kelly”).

    

    

    WHEREAS the Board of ID Experts has on February 19, 2020, authorized the reimbursement of certain liabilities on behalf of Thomas F. Kelly,
      as CEO, should they arise.

    

    

    NOW THEREFORE, in consideration of the mutual covenants and promises contained herein the parties agree to amend and supplement the
      Agreement as follows:

    

    

    1.          Terms.  Capitalized terms used in this Amendment not otherwise defined herein shall have the definitions specified in the Agreement.  The terms of this Amendment shall govern and
        control in case of conflict with the Agreement.  Subject to the alterations and amendments contained in this Amendment, the parties ratify and confirm the Agreement in all other respects.

    

    

    2.          Amendment.  The Agreement is hereby amended to add the following Section 2(f):

    

    

    (f) Should any tax liabilities be incurred as a result of the expense reimbursements referenced in Section 2(d) above, the Executive shall
      be entitled to receive reimbursement of said tax liabilities and any other expensed incurred in association with said tax liabilities.

    

    

    IN WITNESS WHEREOF, the parties have signed this Amendment as of the date first noted above.

    

    

    

    

    Identity Theft Guard Solutions, Inc.

    

    

    

    

    	
            by:

          	
            /s/ Sanjay Uppal

          	 
	 	
            Sanjay Uppal, CFO

          	 
	 	 	 
	 	 	 
	
            /s/ Thomas F. Kelly

          	 
	
            Thomas F. KellyExhibit 10.28

    

    

    Amendment Two to

    Employment Agreement

    

    

    THIS AMENDMENT  (the “Amendment”) is entered into as of August 25, 2021 (the “Effective Date”), and amends that certain Employment
      Agreement (the “Agreement”) dated August 9, 2017,  between Identity Theft Guard Solutions, Inc. d/b/a IDX (“ID Experts”), and Thomas F. Kelly (“Kelly”), as amended by Amendment One dated May 21, 2020.

    

    

    WHEREAS the Board of ID Experts has on April 22, 2021, authorized the reimbursement of certain expenses on behalf of Thomas F. Kelly, as
      CEO.

    

    

    NOW THEREFORE, in consideration of the mutual covenants and promises contained herein the parties agree to amend and supplement the
      Agreement as follows:

    

    

    1.          Terms.  Capitalized terms used in this Amendment not otherwise defined herein shall have the definitions specified in the Agreement.  The terms of this Amendment shall govern and
        control in case of conflict with the Agreement.  Subject to the alterations and amendments contained in this Amendment, the parties ratify and confirm the Agreement in all other respects.

    

    

    2.          Amendment.

    

    

    	

          	a.	
            Section 2(d) of the Agreement is hereby amended to permit airfare in classes and fares in excess of the limit therein, up to $3,000 per month.

          

    

    

    	

          	b.	
            Section 2(d)(ii) of the Agreement is hereby amended to replace $30,000 with $36,000.

          

    

    

    IN WITNESS WHEREOF, the parties have signed this Amendment as of the date first noted above.

    

    

    

    

    Identity Theft Guard Solutions, Inc.

    

    

    

    

    	
            by:

          	
            /s/ Sanjay Uppal

          	 
	 	
            Sanjay Uppal, CFO

          	 
	 	 	 
	 	 	 
	
            /s/ Thomas F. Kelly

          	 
	
            Thomas F. KellyExhibit 10.29

    

    

    Amendment Three to

    Employment Agreement

    

    

    THIS AMENDMENT  (the “Amendment”) is entered into as of November 3, 2021 (the “Effective Date”), and amends that certain Employment
      Agreement (the “Agreement”) dated August 9, 2017,  between Identity Theft Guard Solutions, Inc. d/b/a IDX (“ID Experts”), and Thomas F. Kelly (“Kelly”), as amended by Amendment One dated May 21, 2020 and Amendment Two dated August 25, 2021.

    

    

    WHEREAS the Board of ID Experts has on April 22, 2021, authorized the reimbursement of certain expenses on behalf of Thomas F. Kelly, as
      CEO.

    

    

    NOW THEREFORE, in consideration of the mutual covenants and promises contained herein the parties agree to amend and supplement the
      Agreement as follows:

    

    

    1.          Terms.  Capitalized terms used in this Amendment not otherwise defined herein shall have the definitions specified in the Agreement.  The terms of this Amendment shall govern and
        control in case of conflict with the Agreement.  Subject to the alterations and amendments contained in this Amendment, the parties ratify and confirm the Agreement in all other respects.

    

    

    2.          Amendment.  Section 2(d) of the Agreement is hereby amended to delete “during the two years following the Start Date,” and the obligation to reimburse rent shall extent to the full
        length of the term for any lease renewal.

    

    

    IN WITNESS WHEREOF, the parties have signed this Amendment as of the date first noted above.

    

    

    

    

    Identity Theft Guard Solutions, Inc.

    

    

    

    

    	
            by:

          	
            /s/ Sanjay Uppal

          	 
	 	
            Sanjay Uppal, CFO

          	 
	 	 	 
	 	 	 
	
            /s/ Thomas F. Kelly

          	 
	
            Thomas F. KellyExhibit 10.30

    

    

    FOURTH AMENDMENT TO EMPLOYMENT AGREEMENT

    

    

    THIS AMENDMENT (the “Amendment”) is entered into as of December 16, 2021 (the “Effective Date”) and amends that certain Employment Agreement (the “Agreement”) dated August 9,
      2017, and previously amended as of May 21, 2020, August 25, 2021, and November 3, 2021, by and between Identity Theft Guard Solutions, Inc. (the “Company”) and Thomas Kelly (“Executive”).

    

    

    RECITALS

    

    

    WHEREAS, Executive is currently serving as Chief Executive Officer (“CEO”) of the Company pursuant to the Agreement;

    

    

    WHEREAS, pursuant to a Business Combination Agreement, dated December 17, 2021, to which ID Experts Holdings, Inc., the parent of the Company, is a party, the Company will undergo a business
      combination pursuant to which the Company will become a subsidiary of ZeroFox Holdings, Inc., a Delaware corporation (“ZeroFox”) (the “Transaction”);

    

    

    WHEREAS, in connection with the closing of the Transaction (the “Closing Date”), Executive and the Company have agreed to extend the term of Executive’s employment on the terms set forth
      herein ended as of the Extension Term;

    

    

    NOW, THEREFORE, in consideration of the mutual promises, covenants and agreements provided herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby
      acknowledged, the parties hereto agree as follows:

    

    

    1.          Terms.  Capitalized terms used in this Amendment not otherwise defined herein shall have the definitions specified in the Agreement. The terms of this Amendment shall govern and
      control in case of conflict with the Agreement. Subject to the alterations and amendments contained in this Amendment, the parties ratify and confirm the Agreement in all other respects.

    

    

    2.          Amendments.

    

    

    a.          Extension Term.  Subject to the closing of the Transaction, Executive’s employment shall continue until the one-year anniversary of the Closing Date (such period, the “Extension
        Term”).  At the conclusion of the Extension Term, Executive’s employment shall end.

    

    

    b.          Base Salary:  Executive’s Base Salary shall be at the rate of $325,000 per year commencing on the Closing Date.

    

    

    c.          Title: Executive’s title shall be Senior Advisor commencing on the Closing Date.

    

    

    d.          Duties:  Executive’s duties commencing on the Closing Date shall be to render such services as requested by the Company on an as-needed basis, including without limitation as to
      matters relating to the integration of the Company with ZeroFox and ensuring a seamless transition in connection therewith, for up to 40 hours per week during the Extension Term.  Executive shall provide all support reasonably requested and necessary
      to transition the Company’s business following the closing of the Transaction including, but not limited to, preparing for renewal of the Company’s contract with the U.S. Office of Personnel Management (OPM).

    

    

    e.          Expenses. Executive shall be entitled to receive reimbursement for all reasonable expenses incurred by him in performing services hereunder, in accordance with the policies and
      procedures then in effect and established by the Company for its senior executive officers. For the avoidance of doubt, the Company shall have the obligation to reimburse Executive for the cost of Executive’s airfare, rent, and utilities in the
      Portland area, as provided in Subsection 2(d) of the Agreement.

    
      
        

    

    

    

    f.          No Further Incentive Compensation. Executive shall no longer be eligible for the incentive compensation described in Section 2(b) of the Agreement as of the Closing Date and, for
      the avoidance of doubt, shall not be eligible for incentive compensation or any other bonus for calendar year 2022 after the Closing Date.  Any bonus for the period of calendar year 2022 ending prior to the Closing Date shall be in an amount
      determined by the Board of Directors of the Company consistent with past practices, prorated for the period of calendar year 2022 ending prior to the Closing Date, and shall be paid on or before the Closing Date.

    

    

    g.          Severance.

    

    

    i.          Severance Per Agreement.  The Company agrees to pay the Severance Amount as specified in Section 4(b)(i) of the Agreement in one lump sum on the Closing Date, subject to Executive
      signing and not revoking the Release, as if Executive’s employment had terminated without Cause as of the Closing Date.

    

    

    ii.          COBRA Benefits.  In full satisfaction of its obligation to pay the COBRA benefits set forth in Section 4(b)(ii) of the Agreement (the “COBRA Benefits”), the Company agrees
      to provide the following to Executive: (1) a sum equal to the cost of nine (9) months of COBRA Benefits, which shall be paid in a lump sum on the Closing Date, subject to Executive signing and not revoking the Release; and (2) a sum equal to the cost
      of three (3) months of COBRA Benefits upon the end of the Extension Term (or an early termination without Cause under (iii) below), subject to Executive signing and not revoking an additional Release within sixty (60) days after the end of the
      Extension Term.  Executive is free to use the COBRA Benefits however Executive deems fit, and therefore, there is no requirement that Executive use the COBRA Benefits for the continuation of medical benefits coverage pursuant to COBRA.

    

    

    iii.          Early Termination / Pay In Lieu.  If Executive’s employment is terminated prior to the end of the Extension Term by the Company without Cause, then the Company shall pay
      Executive’s Base Salary through the end of the Extension Term (“Pay In Lieu”) conditioned upon Executive signing and not revoking an additional Release within sixty (60) days after such early termination.

    

    

    iv.          No Further Severance.  Except as set forth in this Amendment, notwithstanding anything to the contrary in the Agreement, Executive shall not be entitled to any other compensation
      or benefits of any kind upon the conclusion of the Extension Term or upon any earlier termination.  For the avoidance of doubt, no severance or other benefits of any kind shall be owed upon the conclusion of the Extension Term other than the COBRA
      Benefits and, if applicable, Pay In Lieu.

    

    

    The Agreement shall otherwise remain in effect, unchanged.

    

    

    [Signature Page Follows]

    
      
        

    

    

    

    This Amendment, together with the Agreement, constitutes the entire understanding and agreement of the parties pertaining to the subject matter hereof and fully supersedes any and all prior or
      contemporaneous agreements or understandings between the parties hereto pertaining to the subject matter hereof.

    

    

    IN WITNESS WHEREOF, the parties hereto have executed this Amendment.

    

    

    	
            COMPANY:

          	
            Identity Theft Guard Solutions, Inc.

          
	 	 	 
	 	
            By:

          	
            /s/ Sanjay Uppal

          
	 	
            Its:

          	
            CFO

          
	 	 	 
	 	
            Date:

          	
            December 15, 2021

          
	 	 	 
	 	 	 
	
            EXECUTIVE:

          	
            /s/ Thomas F. Kelly

          
	 	
            Thomas F. Kelly

          
	 	 	 
	 	
            Date:

          	
            December 15, 2021

          

    

    

    [Signature Page to Amendment to Employment Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00339-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00339-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00339-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00339-of-00352.parquet"}]]