Document:

Amendment of Solicitation/Modification of Contract, dated September 30, 2005

 EXHIBIT 10.30 
  

																					
	 AMENDMENT OF SOLICITATION/MODIFICATION OF CONTRACT
	  	1. CONTRACT ID CODE
J                        	  	PAGE OF PAGES
1            
4      

													
				
	 2. AMENDMENT/MODIFICATION NO.
     P00001
	  	 3. EFFECTIVE DATE    
     30-Sep-2005
	  	 4. REQUISITION/PURCHASE REQ.NO.    
     SEE SCHEDULE
	  	 5. PROJECT NO.
     (If applicable)

													
				
	 6. ISSUED BY
  
     CDR NAWCWD CODE 220000D
     ATTN: P. RICHTER
     (780) 939-4272
     429 E BOWEN RD - STOP 4015
     CHINA LAKE CA 93555-6108
	  	CODE     N68936	  	 7. ADMINISTERED BY (If other than item 6)
     DCMA SANTA ANA
     34 CIVIC CENTER PLAZA
     ROOM 5001
     SANTA ANA CA
92701-4056
	  	        CODE    S0513A

							
			
	 8. NAME AND ADDRESS OF CONTRACTOR
     (No., Street, County, State and Zip Code)
     HOKU
SCIENTIFIC, INC.
     SCOTT PAUL
     1075 OPAKAPAKA STREET
     KAPOLEI HI 96707-1887
	  	 	  	9A. AMENDMENT OF SOLICITATION NO.
	  	 	  	9B. DATED (SEE ITEM 11)
	  	x	  	 10A. MOD. OF CONTRACT/ORDER NO.
           N68936-05-C-0028

				
	CODE    1XVX9    	  	FACILITY CODE	  	x	  	 10B. DATED (SEE ITEM 13)
           07-Mar-2005

													
	
	11. THIS ITEM ONLY APPLIES TO AMENDMENTS OF SOLICITATIONS

																	
			
	  ̈      The above numbered solicitation is amended as set forth in Item 14.
                   The hour and date specified for receipt of Offer
	  	     ̈ is extended,        	  	 ̈ is not extended.

  

	
	
	 Offer must acknowledge receipt of this amendment prior to the hour and date specified in the solicitation or as amended by one of
the following methods:
  
 (a) By completing Items 8 and 15,
and returning              copies of the amendment; (b) By acknowledging receipt of this amendment on each copy of the offer submitted; or (c) By separate letter or telegram which
includes a reference to the solicitation and amendment numbers. FAILURE OF YOUR ACKNOWLEDGMENT TO BE RECEIVED AT THE PLACE DESIGNATED FOR THE RECEIPT OF OFFERS PRIOR TO THE HOUR AND DATE SPECIFIED MAY RESULT IN REJECTION OF YOUR OFFER. If by virtue
of this amendment you desire to change an offer already submitted, such change may be made by telegram or letter, provided each telegram or letter makes reference to the solicitation and this amendment, and is received prior to the opening hour and
date specified.

	
	 12. ACCOUNTING AND APPROPRIATION DATA (If required)
 See Schedule

	
	 13. THIS ITEM APPLIES ONLY TO MODIFICATIONS OF CONTRACTS/ORDERS.
 IT MODIFIES THE CONTRACT/ORDER NO. AS DESCRIBED IN ITEM 14.

							
			
	 	  	A.	  	THIS CHANGE ORDER IS ISSUED PURSUANT TO: (Specify authority) THE CHANGES SET FORTH IN ITEM 14 ARE MADE IN THE CONTRACT ORDER NO. IN ITEM 10A.
			
	 	  	B.	  	THE ABOVE NUMBERED CONTRACT/ORDER IS MODIFIED TO REFLECT THE ADMINISTRATIVE CHANGES (such as changes in paying office, appropriation date, etc.) SET FORTH IN ITEM 14, PURSUANT TO THE AUTHORITY
OF FAR 43.103 (B).
			
	x	  	C.	  	 THIS SUPPLEMENTAL AGREEMENT IS ENTERED INTO PURSUANT TO AUTHORITY OF:
 mutual agreement of the parties

			
	 	  	D.	  	OTHER (Specify type of modification and authority)

  

	
	
	E. IMPORTANT: Contractor  ̈ is not, x is required to
sign this document and return     1     copies to the issuing office.

  

			
		
	14.	 	 DESCRIPTION OF AMENDMENT/MODIFICATION (Organized by UCF section headings, including solicitation/contract subject matter where feasible.)

Modification Control Number:     richterp052394

	
	  
 see herein
  
  
  
 Except as provided herein, all terms and conditions of the document referenced in Item 9A or 10A, as heretofore changed, remains unchanged and in full force and
effect.

															
		
	15A. NAME AND TITLE OF SIGNER (Type or print)	  	 16A. NAME AND TITLE OF CONTRACTING OFFICER (Type or print)
           THEODORE W FISKE / PROCUREMENT CONTRACTING
               OFFICE

			
	           Scott B. Paul
           VP Business Development
	  	          TEL:(760) 939-8182	  	EMAIL: theodorefiske@navy.mil

							
				
	15B. CONTRACTOR/OFFEROR	  	15C. DATE SIGNED    	  	16B. UNITED STATES OF AMERICA    	  	16C. DATE SIGNED
				
	 /s/ Scott B. Paul            

	  	        29-Sep-2005	  	 BY /s/ THEODORE W FISKE

	  	          30-Sep-2005
	(Signature of person authorized to sign)	  	 	  	(Signature of Contracting Officer)	  	 

  

					
			
	 EXCEPTION TO SF 30
 APPROVED BY OIRM
11-84
	 	 30-105-04
	 	 STANDARD FORM 30 (Rev. 10-83)
 Prescribed by
GSA
 FAR (48 CFR) 53.243

 N68936-05-C-0028 
  

Page 2 of 4 
  
 SECTION SF 30 BLOCK 14 CONTINUATION PAGE 
  
 SUMMARY OF CHANGES 
 This modification is issued to correct the
contractor’s address, implement Wide Area Work Flow and exercise OPTION CLINS 0007 & 0008. 
 CONTRACTOR’S
ADDRESS CHANGED 
 FROM: 2153 N King Street, Suite 300, Honolulu, HI 96819-4570 
 TO: Hoku Scientific, Inc. 
 1075 Opakapaka Street 
 Kapolei, Hawaii 96707 USA 
  
 SECTION A - SOLICITATION/CONTRACT FORM 
 The total cost of this contract was increased by $2,450,001.00 from $2,099,999.00 to $4,550,000.00. 
 SECTION B - SUPPLIES OR SERVICES AND PRICES 
 CLIN 0007 The option status has changed from Option to Option Exercised. 
 CLIN 0008 The option status has changed from Option to Option Exercised. 
  
 SUBCLIN 000701 is added as follows: 
  

											
	 ITEM NO

	  	 SUPPLIES/SERVICES

	  	 QUANTITY

	  	 UNIT

	  	 UNIT PRICE

	  	AMOUNT

	 000701
	  	 	  	 	  	 	  	 	  	 
	 	  	 For Funding purposes only
 FFP

Accounting data
 FOB: Destination
 PURCHASE REQUEST NUMBER: 0010150711
	  	 
					
	 	  	CIN: 001015071100001	  	ACRN AB	  	FUNDED AMOUNT	  	$1,057,626.00

  
 SUBCLIN 000801 is
added as follows: 
  

												
	 ITEM NO

	  	 SUPPLIES/SERVICES

	  	 QUANTITY

	  	 UNIT

	  	 UNIT PRICE

	  	AMOUNT

	 000801
	  	 	  	 	  	 	  	 	  	 	 
	 	  	 For accounting purposes only
 FFP
 Funding data
 FOB: Destination
 PURCHASE REQUEST NUMBER: 0010150752
	  	 	 
					
	 	  	CIN: 001015075200001	  	ACRN AB	  	FUNDED AMOUNT	  	$	1,392,375.00

  
 SECTION E - INSPECTION AND ACCEPTANCE

  
 The following Acceptance/Inspection Schedule was added for SUBCLIN 000701:

  

							
	INSPECT AT	 	INSPECT BY	 	ACCEPT AT	 	ACCEPT BY
	N/A	 	N/A	 	N/A	 	Government

  
 The following Acceptance/Inspection
Schedule was added for SUBCLIN 000801: 
  

							
	INSPECT AT	 	INSPECT BY	 	ACCEPT AT	 	ACCEPT BY
	N/A	 	N/A	 	N/A	 	Government

  
 SECTION F - DELIVERIES OR PERFORMANCE

 The Delivery for CLIN 0007 is 7 March 2006. 
  
 The following Delivery Schedule item for CLIN 0008 has been changed from: 
  

							
	 DELIVERY DATE

	 	 QUANTITY

	 	 SHIP TO ADDRESS

	 	 UIC

	 07-MAR-2006
	 	1	 	 N/A
 FOB: Origin
	 	 

 N68936-05-C-0028 
  

Page 3 of 4 
  
 To: 
  

							
	 DELIVERY DATE

	 	 QUANTITY

	 	 SHIP TO ADDRESS

	 	 UIC

	 07-MAR-2007
	 	1	 	 N/A
 FOB: Origin
	 	 

  
 SECTION G - CONTRACT ADMINISTRATION DATA 
 Accounting and Appropriation 
 Summary for the Payment Office 
 As a result
of this modification, the total funded amount for this document was increased by $2,450,001.00 from $2,099,999.00 to $4,550,000.00. 
  
 SUBCLIN 000701: 
 Funding on SUBCLIN 000701 is initiated as follows: 
 ACRN: AB 
 CIN: 001015071100001 
 Acctng Data: 1751319 44TX 252 00019 0 050119 2D 000000 
 Increase: $1,057,626.00 

Total: $1,057,626.00 
 Cost Code: AIR710FAAA00 
  
 SUBCLIN 000801: 
 Funding on SUBCLIN 000801 is initiated as follows: 
 ACRN: AB 
 CIN: 001015075200001 
 Acctng Data: 1751319 44TX 252 00019 0 050119 2D 000000 
 Increase: $1,392,375.00 
 Total: $1,392,375.00 
 Cost Code: AIR710FAAA00 
  
 The following have been added by full text: 
  
 G-TXT-10            INVOICING
INSTRUCTIONS AND PAYMENT (WAWF) (JUN 2005) 
  
 (a)
Invoices under this Contract shall be submitted electronically through Wide Area Work Flow – Receipt and Acceptance (WAWF): 
  
 (1) The vendor shall self-register at the web site https://wawf.eb.mil. Vendor training is available on the internet at
http://www.wawftraining.com/. Additional support can be accessed by calling the NAVY WAWF Assistance Line: 800-559-WAWF (9293). 
  
 (2) A separate invoice will be prepared [insert desired invoice submission timing]. 
  
 (3) Select the invoice type within WAWF as specified below. Back up
documentation (such as timesheets, etc.) can be included and attached to the invoice in WAWF. Attachments created in any Microsoft Office product are acceptable. 
  
 (b) The following information regarding Naval Air Warfare Center Weapons Division is provided for completion of the
invoice in WAWF: 
  

			
	 WAWF Invoice Type:
	  	Invoice as 2-in-one (used for services)
	 Issuing Office DODAAC
	  	N68936
	 Admin Office DODAAC:
	  	S0513A
	 Inspector DODAAC (if applicable):
	  	N68936
	 Acceptor DODAAC (if applicable):
	  	N68936
	 Local Processing Office DODAAC:
	  	 
	 Paying Office DODAAC:
	  	HQ0339

 N68936-05-C-0028 
  

Page 4 of 4 
  
 (c) The contractor shall submit invoices for payment per contract terms. 
  
 (d) The Government shall process invoices for payment per contract terms. 
  
 (e) For Navy accounting purposes only: 
  
 Code 7J2000D, Name Charles “Chuck” Combs 
 Phone: 760-939-0048, Fax: 760-939-7366 
  
 The following have been deleted: 
  

					
	5252.232-9000	  	Submission Of Invoices (Fixed Price)	  	JUL 1992

  
 (End
of Summary of Changes)Employment Agreement

 EXHIBIT 10.29 
  
 EMPLOYMENT AGREEMENT 
  
 This Employment Agreement (the “Agreement”) is made and entered into effective as of October 5, 2005 (the “Effective Date”), by
and between James F. Voelker (the “Employee”) and InfoSpace, Inc. (the “Company”). This Agreement serves as a renewal of the employment agreement entered into between Employee and the Company dated December 21, 2002 and
replaces and supersedes any prior employment agreements that Employee may have entered into with the Company prior to the Effective Date. 
  
 In consideration of the mutual covenants herein contained, the continuing employment of the Employee by the Company, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: 
  
 1. Duties and Scope of Employment. The Company shall employ Employee in the position of Chief Executive Officer. Employee will render such business
and professional services in the performance of his duties, consistent with Employee’s position within the Company, as shall reasonably be assigned to him by the Company’s Board of Directors (the “Board”). Only the Board shall
have the right to revise such responsibilities from time to time, as the Board deems necessary or appropriate. The Compensation Committee shall have the right to revise Employee’s compensation as provided for in Section 5 below, consistent
with the provisions of this Agreement. 
  
 2. Obligations.
While employed hereunder, Employee will perform his duties faithfully and to the best of his ability. Employee agrees not to actively engage in any other employment, occupation or consulting activity for any direct or indirect remuneration without
the prior approval of the Board; provided, however, that Employee may engage in non-competitive business or charitable activities so long as such activities do not materially interfere with Employee’s responsibilities to the Company. Outside
board seats shall be subject to the prior approval of the Board. 
  
 3. Board Membership. While employed hereunder, Employee will serve as a member and Chairman of the Board, subject to any required Board and/or stockholder approval. 
  
 4. Employment Term. Employee’s employment with the Company pursuant to this Agreement shall commence on the
Effective Date and shall continue, unless otherwise terminated earlier as provided in Section 6 hereof, until December 31, 2008 (the “Employment Term”); provided, however, that the Employment Term may be extended by mutual
agreement of the Company and Employee on such terms as they may agree upon in writing. At least ninety (90) days prior to the end of the Employment Term, the Company shall notify the Employee as to whether or not the Company chooses to extend
the Employment Term. If the Company chooses not to extend the Employment Term, following such notification by the Company and upon the Employment Term’s expiration, the Employee shall become an “at-will” employee of the Company. If
the Employee terminates his employment while an at-will employee following the Employment Term’s expiration, and signs and does not revoke a Release, then, subject to Employee’s compliance with Section 9, the Employee shall be
entitled to receive the following benefits: 
  
 (a) Continuing payments of severance pay (less applicable withholding taxes) at a rate equal to his base salary, as then in effect, for a period of six (6) months from the date of such termination, to be paid periodically in accordance
with the Company’s normal payroll policies. 

 (b) The same level of health (i.e., medical, vision and dental) coverage and benefits as
in effect for the Employee on the day immediately preceding the day of the Employee’s termination of employment; provided, however, that (a) the Employee constitutes a qualified beneficiary, as defined in Section 4980B(g)(1) of the
Internal Revenue Code of 1986, as amended; and (b) Employee elects continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), within the time period prescribed pursuant to
COBRA. The Company shall continue to provide Employee with Company-paid health coverage until the earlier of (i) the date Employee is no longer eligible to receive continuation coverage pursuant to COBRA, or (ii) twelve (12) months
from the termination date. 
  
 (c) One hundred
percent (100%) of the Employee’s then unvested stock options shall immediately vest and become exercisable and Employee shall have twelve (12) months following the Termination Date to exercise such vested shares; provided,
however, that in the event of a conflict between the terms and conditions of any such stock option agreement and this Agreement, the terms and conditions of this Agreement shall prevail unless the conflicting provision(s) in any such stock
option agreement shall be more favorable to Employee in which case the provision(s) more favorable to Employee shall govern; provided further, however, that notwithstanding the foregoing in no event shall the extended twelve (12) month
exercise period specified in this Section 4(c) modify or extend the Expiration Date of any stock option as set forth in such stock option agreement. 
  
 5. Compensation and Benefits. 
  
 (a) Base Compensation. The Company shall pay Employee as compensation for Employee’s services hereunder an annual base salary
of $400,000. Such salary shall be subject to applicable tax withholding and shall be paid periodically in accordance with normal Company payroll practices. The base salary shall be subject to annual review by the Compensation Committee of the Board
but in no event shall be less than $400,000. 
  
 (b) Incentive Bonus. In addition to the base salary, Employee may receive a performance bonus during each year of employment with the Company under this Agreement equal to an amount to be determined by the Compensation Committee of
the Board. The amount of such annual performance bonus shall not be less than fifty percent (50%) of Employee’s then current base salary for the applicable fiscal year. Such performance bonus, if any, shall be based upon performance
objectives to be mutually determined by the Compensation Committee of the Board and the Employee. 
  
 (c) Benefits. Employee shall be eligible to participate in the employee benefit plans which are available or which become available
to other employees of the Company, with the adoption or maintenance of such plans to be in the discretion of the Company, subject in each case to the generally applicable terms and conditions of the plan or program in question and to the
determination of any committee administering such plan or program. Such benefits shall include participation in the Company’s group medical, life, disability, and retirement plans, and any supplemental plans available to senior executives of
the Company from time to time. Employee will also be entitled to paid vacation in accordance with the Company’s vacation policy for senior executives. The Company reserves the right to change or terminate its employee 

  

 2 

 
benefit plans and programs at any time. Employee shall be entitled to business or first class air travel on any business travel outside of North America.

  
 (d) Expenses. The Company will
reimburse Employee for reasonable business expenses incurred by Employee in the furtherance of or in connection with the performance of Employee’s duties hereunder, in accordance with the Company’s expense reimbursement policy as in effect
from time to time. 
  
 (e) Stock Options.
As of January 3, 2006, Employee will be granted a non-qualified stock option to purchase 450,000 shares of the Company’s common stock at an exercise price equal to the per share equivalent of the fair market value of the Company’s
common stock on the date of grant as determined by the closing price of the Company’s common stock on NASDAQ NMS on the date of grant, or, if there is no such reported price on the date of grant, the closing price on the trading day on NASDAQ
NMS first preceding the date of grant (the “Option”). Subject to the accelerated vesting provisions set forth herein, 1/36 of the shares subject to the Option shall vest monthly beginning one month after the Effective Date subject to
Employee signing this Agreement prior to January 1, 2006 and subject to Employee’s continued full-time employment by the Company on the relevant vesting dates. 
  
 The Option will be subject to the terms and conditions of the Company’s Restated 1996 Flexible Stock
Incentive Plan (the “Option Plan”) and the applicable stock option agreement by and between Employee and the Company (the “Option Agreement”), which documents are incorporated herein by reference; provided, however, that to the
extent the Option Agreement is inconsistent with this Agreement, this Agreement shall control. 
  
 6. Termination of Employment. 
  
 (a) Termination by Company for Cause; Voluntary Termination. In the event Employee’s employment with the Company is terminated for “Cause” (as defined herein) by the Company or voluntarily by
Employee (i) the Company shall pay Employee any unpaid base salary due for periods prior to the date of termination of employment (“Termination Date”); (ii) the Company shall pay Employee all of Employee’s accrued and unused
vacation, if any, through the Termination Date; and (iii) following submission of proper expense reports by Employee, the Company shall reimburse Employee for all expenses reasonably and necessarily incurred by Employee in connection with the
business of the Company prior to termination. These payments shall be made promptly upon termination and within the period of time mandated by applicable law. Employee shall retain all options that are vested as of the Termination Date and such
options may be exercised in accordance with the provisions of the Option Plan and the Option Agreement(s). All unvested options will be immediately forfeited as of the Termination Date. 
  
 (b) Termination by Company without Cause. The Company may terminate Employee’s employment
without Cause upon thirty (30) days written notice to Employee. If Employee’s employment with the Company terminates other than voluntarily or for Cause, and Employee signs and does not revoke a Release, then, subject to Employee’s
compliance with Section 9, Employee shall be entitled to: 
  
 (i) Receive continuing payments of severance pay (less applicable withholding taxes) at a rate equal to his base salary and 100% of his annual bonus rate, as then in effect, for a period of twelve (12) months
from the date of such termination, to be paid periodically in accordance with the Company’s normal payroll policies. 
  

 3 

 (ii) The same level of health (i.e., medical, vision and dental) coverage and benefits as
in effect for the Employee on the day immediately preceding the day of the Employee’s termination of employment; provided, however, that (a) the Employee constitutes a qualified beneficiary, as defined in Section 4980B(g)(1) of the
Internal Revenue Code of 1986, as amended; and (b) Employee elects continuation coverage pursuant to COBRA, within the time period prescribed pursuant to COBRA. The Company shall continue to provide Employee with Company-paid health coverage
(on the same basis as when he was an active employee) until the earlier of (i) the date Employee is no longer eligible to receive continuation coverage pursuant to COBRA, or (ii) twelve (12) months from the Termination Date.

  
 (iii) Fifty percent (50%) of the
Employee’s then unvested stock options shall immediately vest and become exercisable and Employee shall have twelve (12) months following the Termination Date to exercise such vested shares; provided, however, that in the event of a
conflict between the terms and conditions of any such stock option agreement and this Agreement, the terms and conditions of this Agreement shall prevail unless the conflicting provision(s) in any such stock option agreement shall be more favorable
to Employee in which case the provision(s) more favorable to Employee shall govern; provided further, however, that notwithstanding the foregoing in no event shall the extended twelve (12) month exercise period specified in this
Section 6(b)(iii) modify or extend the Expiration Date of any stock option as set forth in the applicable stock option agreement. 
  
 Notwithstanding the provisions of this Section 6, during the first six (6) months after termination, Employee’s severance
benefits will accrue and be paid in a lump sum payment in the seventh month after termination with Employee receiving monthly payments thereafter for the remaining severance benefits, unless the Company reasonably determines that under Internal
Revenue Service guidance, the tax under Internal Revenue Code Section 409A does not apply to such payments. 
  
 (c) Death. In the event of Employee’s death while employed hereunder, one hundred percent (100%) of Employee’s then
unvested stock options shall immediately vest and become exercisable and Employee’s beneficiary (or such other person(s) specified by will or the laws of descent and distribution) will (i) receive continuing payments of severance pay (less
applicable withholding taxes) at a rate equal to Employee’s base salary for a period of ninety (90) days from Employee’s death, to be paid periodically in accordance with the Company’s normal payroll policies, (ii) receive
Company-paid COBRA benefits as specified in Section 6(b)(ii) above for ninety (90) days from Employee’s death, and (iii) have the right to exercise the vested shares subject to Employee’s stock options for two (2) years
following Employee’s death; provided, however, that notwithstanding the foregoing in no event shall the extended two year exercise period specified in Section 6(c)(iii) modify or extend the Expiration Date of any stock option as set
forth in the applicable stock option agreement. 
  
 (d) Disability. In the event of Employee’s termination of employment with the Company due to “Disability” (as defined herein) any unvested portion of the Option shall immediately vest and become exercisable and
Employee shall be entitled to continuing payments of base salary (less applicable withholding taxes) until Employee is eligible for long-term disability payments under the Company’s group disability policy; provided, however, that in no event
shall such period of continued base salary exceed 180 days following termination. 
  
 (e) Termination by Employee for Good Reason. If Employee terminates employment with the Company for “Good Reason” (as
defined herein) within ninety (90) days following a Good Reason event, and Employee signs and does not revoke a Release, then, subject 

  

 4 

 
to Employee’s compliance with Section 9, Employee shall be entitled to the same benefits that he would receive in Section 6(b) above, unless
such termination by the Employee occurs under the Change of Control circumstances described in Section 7, in which case Employee shall be entitled to the benefits described in such Section 7. 
  
 7. Change of Control Benefits. If Employee (i) is terminated
other than for Cause by the Company within ninety (90) days prior to a “Change of Control” (as defined herein) or in connection with a Change of Control or (ii) is terminated other than for Cause by the Company (or its successor
corporation) or resigns for Good Reason within eighteen (18) months following a Change of Control, and Employee signs and does not revoke a Release, then, subject to Employee’s compliance with Section 9, Employee shall be entitled to
the following benefits: 
  
 (a) Continuing
payments of severance pay (less applicable withholding taxes) at a rate equal to his base salary rate, as then in effect, for a period of twelve (12) months from the date of such termination, to be paid periodically in accordance with the
Company’s normal payroll policies. 
  
 (b)
Continuing payments of severance pay (less applicable withholding taxes) at a rate equal to 100% of his annual bonus rate (but in no event less than $100,000), as then in effect, for a period of twelve (12) months from the date of such
termination, to be paid periodically in accordance with the Company’s normal payroll policies. 
  
 (c) The same level of health (i.e. medical, vision and dental) coverage and benefits as in effect for the Employee on the day immediately
preceding the day of the Employee’s termination of employment; provided, however that (a) the Employee constitutes a qualified beneficiary, as defined in Section 4980B(g)(1) of the Internal Revenue Code of 1986, as amended; and
(b) Employee elects continuation coverage pursuant to COBRA, within the time period prescribed pursuant to COBRA. The Company shall continue to provide Employee with Company-paid health coverage (on the same basis as when he was an active
employee) until the earlier of (i) the date Employee is no longer eligible to receive continuation coverage pursuant to COBRA or (ii) twelve (12) months from the termination date. 
  
 (d) One hundred percent (100%) of the Employee’s
then unvested stock options shall immediately vest and become exercisable and Employee shall have twelve (12) months following the Termination Date to exercise such vested shares; provided, however, that in the event of a conflict
between the terms and conditions of any such stock option agreement and this Agreement, the terms and conditions of this Agreement shall prevail unless the conflicting provision(s) in any such stock option agreement shall be more favorable to
Employee in which case the provision(s) more favorable to Employee shall govern; provided further, however, that notwithstanding the foregoing in no event shall the extended twelve (12) month exercise period specified in this
Section 7(d) modify or extend the Expiration Date of any stock option as set forth in the applicable stock option agreement 
  
 If Employee remains employed by the Company or its successor for twelve (12) months following a Change in Control, and Employee, if
applicable, signs and does not revoke a Release, then, subject to Employee’s compliance with Section 9, one hundred percent (100%) of Employee’s then unvested stock options shall immediately vest and become exercisable.

  
 Notwithstanding the provisions of this
Section 7, during the first six (6) months after termination, Employee’s severance benefits will accrue and be paid in a lump sum payment in the seventh month after termination with Employee receiving monthly payments thereafter for

  

 5 

 
the remaining severance benefits, unless the Company reasonably determines that under Internal Revenue Service guidance, the tax under Internal Revenue Code
Section 409A does not apply to such payments. 
  
 Notwithstanding the foregoing, in the event that the benefits provided for in this Section 7 (i) constitute “parachute payments” within the meaning of Section 280G of the Code, and (ii) would be subject to the
excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then Employee’s benefits otherwise payable under this Section 7 shall be reduced by the minimum extent necessary such that no portion of such benefits would
be subject to the Excise Tax. Unless the Company and Employee otherwise agree in writing, any determination required under this Section 7 shall be made in writing by the Company’s independent public accountants (the
“Accountants”), whose determination shall be conclusive and binding upon Employee and the Company for all purposes. For purposes of making the calculations required by this Section 7, the Accountants may make reasonable assumptions
and approximations concerning applicable taxes and may rely on reasonable, good faith interpretations concerning the application of Section 280G and 4999 of the Code. The Company and Employee shall furnish to the Accountants such information
and documents as the Accountants may reasonably request in order to make a determination under this Section 7. The Company shall bear all costs the Accountants may reasonably incur in connection with any calculations contemplated by this
Section 7. 
  
 8. No Impediment to Agreement. Employee
hereby represents to the Company that Employee is not, as of the date hereof, and will not be during Employee’s employment with the Company, employed under contract, oral or written, by any other person, firm or entity, and is not and will not
be bound by the provisions of any restrictive covenant or confidentiality agreement which would constitute an impediment to, or restriction upon, Employee’s ability to enter this Agreement and to perform the duties of Employee’s
employment. 
  
 9. Confidentiality, Non-Competition and
Non-Solicitation. Employee agrees, as a condition to this Agreement becoming effective, to execute the Company’s current standard form of Employee Non-Disclosure, Invention Release and Non-Competition Agreement attached hereto as Exhibit
A; provided, however, to the extent there is any inconsistency between such standard form agreement and this Agreement, this Agreement shall control. 
  
 10. Arbitration. Employee agrees, as a condition to this Agreement becoming effective, to execute the Company’s current standard form
Arbitration Agreement, as amended, attached hereto as Exhibit B. 
  
 11. Definitions. 
  
 (a)
Cause. For purposes of this Agreement, “Cause” is defined as any of the following: (i) fraud, illegal conduct, misappropriation or embezzlement on the part of Employee which results in material loss, damage or injury to the
Company, (ii) a material breach of this Agreement (including any documents incorporated herein by reference) by Employee, (iii) Employee’s conviction of, or plea of guilty or nolo contendere to, a felony or crime involving moral
turpitude, or (iv) conduct by Employee which constitutes willful, wanton or grossly negligent neglect of duties. Conduct will not be willful or grossly negligent if done, or not done, by Employee in good faith and with reasonable belief that
action or omission was in the best interest of the Company. Any termination for “Cause” hereunder must be determined by two-thirds (2/3rd) vote of the Board, with Employee first having been given specific written explanation of the basis for the “Cause” determination and an opportunity to appear before the Board prior to
final Board action. 
  

 6 

 (b) Change of Control. For purposes of this Agreement, a “Change of
Control” is defined as the occurrence of any of the following: 
  
 (i) Any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended) is or becomes the “beneficial owner” (as defined in Rule 13d-3 under said
Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more of the total voting power represented by the Company’s then outstanding voting securities; 
  
 (ii) Any merger or consolidation of the Company with any
other corporation that has been approved by the stockholders of the Company, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by
remaining outstanding or by being converted into voting securities of the surviving entity) more than fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity outstanding
immediately after such merger or consolidation, or the stockholders of the Company approve a plan of complete liquidation of the Company; or 
  
 (iii) Any sale or disposition by the Company, in one transaction or a series of related transactions, of all or substantially all the
Company’s assets; or 
  
 (iv) A change in
the composition of the Board occurring within a two-year period, as a result of which fewer than a majority of the directors are Incumbent Directors. “Incumbent Directors” will mean directors who either (A) are directors of the
Company as of the Effective Date, or (B) are elected, or nominated for election, to the Board with the affirmative votes of at least a majority of the Incumbent Directors at the time of such election or nomination. For purposes of the
preceding, individuals who are elected pursuant to clause (B) also shall be considered Incumbent Directors. 
  
 (c) Disability. For purposes of this Agreement, “Disability” is defined as Employee’s inability to perform his
employment duties to the Company hereunder for 180 days (in the aggregate) in any one-year period as determined by an independent physician selected by the Company. 
  
 (d) Good Reason. For purposes of this Agreement, “Good Reason” is defined as the occurrence
of any of the following: (i) a relocation of Company headquarters outside of the Seattle/Bellevue metropolitan area; (ii) a material breach of this Agreement by the Company; (iii) Employee is removed from or not re-elected to the
Board; (iv) Employee has a material reduction in position, status, duties or responsibilities, or is assigned duties materially inconsistent with his position (except as a result of Company being acquired and made part of a larger entity so
long as Employee shall continue to serve in the same position of an independent subsidiary or separate defined business unit containing the Company’s business following a “Change of Control” (as defined herein)); or (v) a change
in the composition of the Board occurring within a two-year period, as a result of which fewer than a majority of the directors are Incumbent Directors. “Incumbent Directors” will mean directors who either (A) are directors of the
Company as of the Effective Date, or (B) are elected, or nominated for election, to the Board with the affirmative votes of at least a majority of the Incumbent Directors at the time of such election or nomination. For purposes of the
preceding, individuals who are elected pursuant to clause (B) also shall be considered Incumbent Directors. 
  

 7 

 (e) Release. For purposes of this Agreement, “Release” is defined as a
release in a form substantially equivalent to that attached as Exhibit C. Employee agrees that the Company has the right to make such further changes in the release as the Company determines are necessary or appropriate to make the release
enforceable against the Employee in light of changes in applicable law. 
  
 12. Successors; Personal Services. The services and duties to be performed by the Employee hereunder are personal and may not be assigned or delegated. This Agreement shall be binding upon and inure to the benefit of the Company, its
successors and assigns, and the Employee, the Employee’s heirs and representatives. 
  
 13. Notice. Notices and all other communications contemplated by this Agreement shall be in writing and shall be deemed to have been duly given when personally delivered or when mailed by U.S. registered or
certified mail, return receipt requested and postage prepaid. In the case of the Employee, mailed notices shall be addressed to Employee at the home address, which Employee most recently communicated to the Company in writing, with a copy to
Employee’s counsel as designated by Employee whose address is provided below. In the case of the Company, mailed notices shall be addressed to its corporate headquarters, and all notices shall be directed to the attention of its General
Counsel. 
  
 14. Miscellaneous Provisions. 
  
 (a) Waiver. No provision of this Agreement shall be
modified, waived or discharged unless the modification, waiver or discharge is agreed to in writing and signed by the Employee and by an authorized officer of the Company (other than the Employee). No waiver by either party of any breach of, or of
compliance with, any condition or provision of this Agreement by the other party shall be considered a waiver of any other condition or provision or of the same condition or provision at another time. 
  
 (b) Entire Agreement. This Agreement, the Option
Plan, the Option Agreement, the Company’s Employee Non-Disclosure, Invention Release and Non-Competition Agreement dated of even date herewith, and the Arbitration Agreement dated of even date herewith shall supersede and replace all prior
agreements or understandings relating to the subject matter hereof, and no agreement, representations or understandings (whether oral or written or whether express or implied) which are not expressly set forth in this Agreement have been made or
entered into by either party with respect to the relevant matter hereof. Notwithstanding the foregoing, in the event of a conflict between the terms and conditions of the Option Plan and this Agreement, the terms and conditions of the Option Plan
shall prevail. 
  
 (c) Choice of Law. The
validity, interpretation, construction and performance of this Agreement shall be governed by the internal substantive laws of the State of Washington without reference to any choice of law rules. 
  
 (d) Severability. The invalidity or unenforceability
of any provision or provisions of this Agreement shall not affect the validity or enforceability of any other provision hereof, which shall remain in full force and effect. 
  
 (e) No Assignment of Benefits. The rights of any person to payments or benefits under this Agreement
shall not be made subject to option or assignment, either by voluntary or involuntary assignment or by operation of law, including (without limitation) 

  

 8 

 
bankruptcy, garnishment, attachment or other creditor’s process, and any action in violation of this subsection shall be void. 
  
 (f) No Duty to Mitigate. Employee shall not be
required to mitigate the amount of any payment contemplated by this Agreement, nor shall any such payment be reduced by any earnings that Employee may receive from any other source. 
  
 (g) Employment Taxes. All payments made pursuant to this Agreement will be subject to withholding of
all applicable income, health insurance and employment taxes. 
  
 (h) Assignment by Company. The Company may assign its rights under this Agreement to an affiliate (as defined under the Securities Exchange Act of 1934), and an affiliate may assign its rights under this
Agreement to another affiliate of the Company or to the Company. In the case of any such assignment, the term “Company” when used in a section of this Agreement shall mean the corporation that actually employs the Employee. 
  
 (i) Counterparts. This Agreement may be executed in
counterparts, each of which shall be deemed an original, but all of which together will constitute one and the same instrument. 
  
 (j) Attorney Fees. The Company agrees to directly pay Employee’s reasonable legal fees associated with entering into this
Agreement up to $7,500 upon receiving invoices for such services. 
  
 [Remainder of page intentionally left blank.] 
  

 9 

 IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Company by its duly authorized
officer, as of the day and year first above written. 
  

					
	 COMPANY:
	 	 	 	 INFOSPACE, INC.

			
	  	 	 	 	 /s/ David E. Rostov

	 	 	 	 	 By David E. Rostov

	 	 	 	 	 Chief Financial Officer

	 	 	 	 	 Title

	 EMPLOYEE:
	 	 	 	 
			
	  	 	 	 	 /s/ James F. Voelker

	 	 	 	 	 James F. Voelker

			
	 	 	 	 	 Employee’s Counsel: Robert Blackstone
 Davis Wright Tremaine, LLP
 2600 Century Square
 1501 Fourth Avenue
 Seattle, WA 98101-1688

  
 SIGNATURE PAGE TO
EMPLOYMENT AGREEMENT 
  

 10

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00091-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00091-of-00352.parquet"}]]