Document:

Document

The confidential portions of this exhibit have been filed separately with the Securities and Exchange Commission pursuant to a confidential treatment request in accordance with Rule 24b-2 of the Securities Exchange Act of 1934, as amended.
REDACTED PORTIONS OF THIS EXHIBIT ARE MARKED BY "***".

Amendment #16
to the Yahoo Publisher Network Contract #1-19868214
Effective Date: April 24, 2009, as amended (“Original Agreement”)

THIS AMENDMENT #16 to the Original Agreement (“Amendment #16”) is by and between Inuvo, Inc. (“Publisher”), on the one hand, and Oath Holdings Inc., Yahoo! Singapore Digital Marketing Pte. Ltd., and Oath (EMEA) Limited (collectively, “Yahoo”), on the other hand, and is made effective as of the latter date of Yahoo’s or Publisher’s signature below (the “Amendment #16 Effective Date”). All capitalized terms not defined herein shall have the meanings assigned to them in the Original Agreement.

In consideration of mutual covenants and conditions, the receipt and sufficiency of which are hereby acknowledged, Publisher and Yahoo hereby agree as follows:

1.    The Term of the Original Agreement is extended by replacing the prior “End Date” of “November 30, 2018” with “November 30, 2020.”  Thereafter, the Term will automatically renew for additional 1-year periods unless either party gives notice of non-renewal at least 90-days before the expiration of the then current term.  Notwithstanding the foregoing, either Party may terminate this Agreement effective November 30, 2019 (the “Early Termination Date”) by delivering written notice of termination at least 90 days prior to the Early Termination Date.

2.    The following is added at the end of the Section entitled “Implementations on Publisher’s Offerings” on the Cover Page of the Original Agreement:

***

3.    The following is added to the end of the Section entitled “Implementation” on the Cover Page of the Original Agreement:

“• ***

4.    The three charts set forth in the Section entitled “Compensation” on the Cover Page of the Original Agreement are deleted in their entirety and replaced with the following chart: 

***

For the avoidance of doubt, the last three (3) paragraphs in the Section entitled “Compensation” on the Cover Page of the Original Agreement, as added by Amendment #12, (i.e., the first of such paragraphs beginning with “*In the event (i) ***....”) remain unchanged and continue in full force and effect in accordance with their terms.

5.    Attachment A (Implementation Requirements) to the Original Agreement is amended to add the following new Section as Section H:

“H. Additional Requirements for ***

***

6.    Attachment A to the Original Agreement is amended to incorporate the mockups set forth in Exhibit A attached hereto.

The confidential portions of this exhibit have been filed separately with the Securities and Exchange Commission pursuant to a confidential treatment request in accordance with Rule 24b-2 of the Securities Exchange Act of 1934, as amended.
REDACTED PORTIONS OF THIS EXHIBIT ARE MARKED BY "***".

7.    Section 2 of Attachment C (***) to the Original Agreement is amended such that the following is added thereto:

***

8.    Section 2 of Attachment F (***) to the Original Agreement is amended such that the following is added thereto:

***
***

9.    Attachment F to the Original Agreement is amended such that the following is added thereto:

***
10.    Section 29 of Attachment B (Terms and Conditions) to the Original Agreement is amended such that the following new definitions are added thereto:

“Approved Placements: ***, each as pre-approved by Yahoo in its sole discretion and notified to Publisher.
***.
***.
***.
***.
***.
11.    The definitions of “Links” and “Query” in Section 29 of Attachment B to the Original Agreement are amended and restated to read as follows (changes in italics), respectively.

“Links: Search Box, Hyperlinks, *** and Ad Code, to the extent included in the Cover Page.
Query: a search query initiated from the Search Box, *** or Hyperlink, or a request for Matched Ads initiated by the Ad Code on an Ad Page.”

12.    Except as expressly set forth herein, the Original Agreement will remain in full force and effect in accordance with its terms.

13.    In the event of a conflict between any of the terms and conditions of the Original Agreement and the terms and conditions of this Amendment #16, the terms and conditions of this Amendment #16 shall govern.

14.    This Amendment #16 may be executed in one or more counterparts, each of which when executed shall be deemed to be an original but all of which taken together shall constitute one and the same instrument. An electronically transmitted signature via pdf or facsimile shall be deemed the equivalent to an original ink signature. 
[Signature Page Follows]

The confidential portions of this exhibit have been filed separately with the Securities and Exchange Commission pursuant to a confidential treatment request in accordance with Rule 24b-2 of the Securities Exchange Act of 1934, as amended.
REDACTED PORTIONS OF THIS EXHIBIT ARE MARKED BY "***".

IN WITNESS WHEREOF, the parties hereto have caused their duly authorized representatives to enter into this Amendment #16 effective as of the Amendment #16 Effective Date.

						
	INUVO, INC.
	OATH HOLDINGS INC. 

		
	By:/s/Richard Howe
	By: /s/ Timothy Lemmon

		
	Name: Richard Howe
	Name: Timothy Lemmon

		
	Title: CEO
	Title: Executive Vice President

		
	Date: 8/24/18
	Date: 8/28/2018 7:24:26 AM PDT

		
		

OATH (EMEA) LIMITED

		
		By: /s/ Gaetano Ceraloi

		
		Name: Gaetano Ceraloi

		
		Title: Director

		
		Date: 28/08/2018

						
		YAHOO! SINGAPORE DIGITAL MARKETING PTE. LTD. 

		
		By: /s/ Margaret Chang

		
		Name: Margaret Chang

		
		Title: Senior Director

		
		Date: 28 August 2018

		

The confidential portions of this exhibit have been filed separately with the Securities and Exchange Commission pursuant to a confidential treatment request in accordance with Rule 24b-2 of the Securities Exchange Act of 1934, as amended.
REDACTED PORTIONS OF THIS EXHIBIT ARE MARKED BY "***".

Exhibit A

***

***Document

ELEVENTH BUSINESS FINANCING MODIFICATION AGREEMENT 

This Eleventh Business Financing Modification Agreement (the “Amendment”) is entered into as of September 19, 2018 by and between WESTERN ALLIANCE BANK, an Arizona corporation (“Lender”) INUVO, INC., a Nevada corporation (“Parent”), BABYTOBEE, LLC, a New York limited liability company (“Babytobee”), KOWABUNGA MARKETING, INC., a Michigan corporation (“Kowabunga”), VERTRO, INC., a Delaware corporation (“Vertro”), ALOT, INC., a Delaware corporation (“A LOT”), and NETSEER, INC., a Nevada corporation formerly known as NETSEER ACQUISITION, INC. (“NetSeer” and together with Parent, Babytobee, Kowabunga Vertro and A LOT, each a “Borrower” and collectively, “Borrowers”).

1.    DESCRIPTION OF EXISTING INDEBTEDNESS: Among other indebtedness which may be owing by Borrowers to Lender, Borrowers are indebted to Lender pursuant to, among other documents, a Business Financing Agreement, dated March 1, 2012, by and between Borrowers and Lender, as may be amended from time to time, including by that certain First Business Financing Modification Agreement dated as of June 29, 2012, that certain Second Business Financing Modification Agreement dated as of October 11, 2012, that certain Business Financing Modification Agreement dated March 8, 2013, that certain Third Business Financing Modification Agreement dated as of March 29, 2013, that certain Fourth Business Financing Modification Agreement dated as of March 6, 2014, that certain Fifth Business Financing Modification Agreement dated as of September 20, 2014, that certain Business Financing Modification Agreement dated as of October 9, 2014, that certain Sixth Business Financing Modification Agreement dated as of September 27, 2016, that certain Seventh Business Financing Modification Agreement dated as of December 9, 2016, that certain Eighth Business Financing Modification Agreement dated as of March 27, 2017, that certain Ninth Business Financing Modification Agreement dated as of July 31, 2017, and that certain Tenth Business Financing Modification Agreement dated as of April 18, 2018  (collectively, the “Business Financing Agreement”).  Capitalized terms used without definition herein shall have the meanings assigned to them in the Business Financing Agreement. Hereinafter, all indebtedness owing by Borrower to Lender shall be referred to as the "Indebtedness" and the Business Financing Agreement and any and all other documents executed by Borrower in favor of Lender shall be referred to as the “Existing Documents.”

2.    MODIFICATION(S) TO BUSINESS FINANCING AGREEMENT. 

A. The following definition set forth in Section 12.1 is amended in its entirety to read as follows:
 
“Maturity Date” means October 20, 2018 or such earlier date as Lender shall have declared the Obligations immediately due and payable pursuant to Section 7.2. 

3.    PRO-RATED FACILITY FEE. In lieu of payment of the Facility Fee required to be paid on September 24, 2018 pursuant to Section 2.2(b) of the Business Financing Agreement, on the date hereof, Borrowers shall pay to Lender a pro-rated facility fee in the amount of $2,083.

4.    CONSISTENT CHANGES.  The Existing Documents are each hereby amended wherever necessary to reflect the changes described above. 

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5.    NO DEFENSES OF BORROWER/GENERAL RELEASE.  Borrower agrees that, as of this date, it has no defenses against the obligations to pay any amounts under the Indebtedness.  Each of Borrower and its affiliates (each, a “Releasing Party”) acknowledges that Lender would not enter into this Amendment without Releasing Party’s assurance that it has no claims against Lender or any of Lender’s officers, directors, employees or agents.  Except for the obligations arising hereafter under this Amendment, each Releasing Party releases Lender, and each of Lender’s officers, directors and employees from any known or unknown claims that Releasing Party now has against Lender of any nature, including any claims that Releasing Party, its successors, counsel, and advisors may in the future discover they would have now had if they had known facts not now known to them, whether founded in contract, in tort or pursuant to any other theory of liability, including but not limited to any claims arising out of or related to the Business Financing Agreement or the transactions contemplated thereby.  Releasing Party waives the provisions of California Civil Code section 1542, which states:

A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER, MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.
The provisions, waivers and releases set forth in this section are binding upon each Releasing Party and its shareholders, agents, employees, assigns and successors in interest.  The provisions, waivers and releases of this section shall inure to the benefit of Lender and its agents, employees, officers, directors, assigns and successors in interest.  The provisions of this section shall survive payment in full of the Obligations, full performance of all the terms of this Amendment and the Business Financing Agreement, and/or Lender’s actions to exercise any remedy available under the Business Financing Agreement or otherwise.
6.    CONTINUING VALIDITY.  Borrower understands and agrees that in modifying the existing Indebtedness, Lender is relying upon Borrowers’ representations, warranties, and agreements, as set forth in the Existing Documents, and Borrower hereby represents and warrants that the representations and warranties contained in the Existing Documents are true and correct as of the date of hereof, and that no Event of Default has occurred and is continuing.  Except as expressly modified pursuant to this Amendment, the terms of the Existing Documents remain unchanged and in full force and effect.  Lender's agreement to modifications to the existing Indebtedness pursuant to this Amendment in no way shall obligate Lender to make any future modifications to the Indebtedness.  Nothing in this Amendment shall constitute a satisfaction of the Indebtedness.  It is the intention of Lender and Borrower to retain as liable parties all makers and endorsers of Existing Documents, unless the party is expressly released by Lender in writing.  No maker, endorser, or guarantor will be released by virtue of this Amendment.  The terms of this paragraph apply not only to this Amendment, but also to any subsequent Business Financing Modification agreements.

7.    CONDITIONS PRECEDENT.  The effectiveness of this Amendment is conditioned upon Borrowers’ payment of the pro-rated facility fee set forth above plus all of Lender’s out of pocket expenses incurred in connection herewith on the date hereof.

8.    NOTICE OF FINAL AGREEMENT. BY SIGNING THIS DOCUMENT EACH PARTY REPRESENTS AND AGREES THAT: (A) THIS WRITTEN AGREEMENT REPRESENTS THE FINAL AGREEMENT BETWEEN THE PARTIES, (B) THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES, AND (C) THIS WRITTEN AGREEMENT MAY NOT BE CONTRADICTED BY EVIDENCE OF ANY PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OR UNDERSTANDINGS OF THE PARTIES.

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

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9. COUNTERSIGNATURE.  This Ninth Business Financing Modification Agreement shall become effective only when executed by Lender and Borrower.

									
	BORROWER: 		LENDER: 
			
	INUVO, INC. 		WESTERN ALLIANCE BANK 
	By: 		By: 
	Name: 		Name: 
	Title: 		Title: 
			
	BABYTOBEE, LLC 		
	By: 		
	Name: 		
	Title: 		
			
	KOWABUNGA MARKETING, INC. 		
	By: 		
	Name: 		
	Title: 		
			
	VERTRO, INC 		
	By: 		
	Name: 		
	Title: 		
			
	ALOT, INC. 		
	By: 		
	Name: 		
	Title: 		
			
	NETSEER, INC. 		
	By: 		
	Name: 		
	Title: 		

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