Document:

Exhibit 10.42

 

AMENDMENT
TO THE

EMPLOYMENT
AGREEMENT

 

This AMENDMENT to
the Employment Agreement (as defined below), effective January 1, 2009, is
hereby entered into as of the 31st day of December, 2008 by and between
MxEnergy Inc. (the “Company”) and Gina Goldberg (the “Employee”).

 

WHEREAS,
the Company and the Employee entered into an Employment agreement setting forth
the details of the Employee’s employment with the Company on June 13, 2007 (the
“Employment Agreernent”); and

 

WHEREAS,
the Company and Employee desire and agree to amend the provisions of the
Employment Agreement as provided below in order to reduce the risk of potential
adverse tax consequences to the Employee under Section 409A of the  Internal
Revenue Code of 1986, as amended.

 

NOW THEREFORE,
in consideration of the foregoing and for other valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the  undersigned
parties agree to amend the Employment Agreement, effective January 1, 2009,
as follows:

 

1.             Section 3
of the Employment Agreement is amended as follows, with bold and italicized text highlighting
the additions:

 

3.             Bonus.
The Company shall pay Employee a bonus based on  Employee’s and the Company’s
performance, such bonus to be determined and paid annually in a manner
consistent with the determination and payment of bonuses paid to other
executives of the Company; provided,
however, such bonus shall not be paid later than two and one-half (21/2)
months following the end of the year 10 which the performance objectives
relate. Subject  to
the Company’s discretion, such bonus is expected to range between 50 and 100%
of Employee’s Base Salary for satisfactory and outstanding performance,
respectively.

 

2.             Section 4(f) of
the Employment Agreement is  amended as follows,
with  bold and italicized text highlighting the
additions:

 

(f)            Expense
Reimbursement. Employee shall be reimbursed for all items of travel,
entertainment and miscellaneous expenses, including high speed home Internet
access which the Employee reasonably incurs in connection with the performance
of her duties hereunder, provided that (i) the Employee submits to the Company
on proper forms provided by the Company, such Statements  and other
evidence supporting such expenses as the Company may require and provided such
expenses meet the Company’s policy concerning such matters, and (ii) Employee’s request for
reimbursement and the Company’s payment both occur not later than the last day
of Employee’s taxable year ending after the taxable year in which the expense
is incurred. The
reimbursement of expenses pursuant to this section shall not affect any
expenses eligible for reimbursement in any other calendar year, and shall not
be liquidated or exchanged for any other benefit.

 

 

3.             Section 5(b)
of the Employment Agreement is amended as follows, with bold and italicized text highlighting
the additions:

 

(b)           Constructive
Termination or Termination without Business Reasons. If at any time during
the Employment Term (i) Employee terminates her employment as a result of
a Constructive Termination, or (ii) the Company terminates Employee’s
employment without Business Reasons then subject to Employee signing and not
revoking a general release of claims against the Company and its Successors (using a form of release that the
Company provides to Employee not later than 10 business days after Employee’s
Termination Date) and such release becoming irrevocable within sixty (60) days
after Employee’s Termination Date, Employee shall be entitled to
receive upon the expiration
of such sixty (60) day period (A) a lump sum payment equal
to the greater of (i) her Base Salary for the remainder of the Employment Term
or (ii) her Base Salary for a 12 month period, and (B) all other benefits
under Sections 5(a)(C) and 5(a)(D) above. For purposes of determining severance
for the remainder of the Employment Term under this Section 5(b). the parties agree  that the Employment Term shall be deemed
to be two (2) years from the date of this Agreement. The Employment Term
shall be extended for additional one year periods unless Company provides
Executive with at least 90 days prior written notice of nonextension before the
end of the then current Employment Term. In the event the Company provides the Executive with a
notice of nonextension, Employee shall be entitled to a lump sum
payment equal to 12 months of her Base Salary at the end of the then current
Employment Term, which amount shall, subject to Section 5(d) below, be paid upon the
next business day following the Employee’s Termination Date.

 

4.             Section 5(c) of
the Employment Agreement is amended as follows, with  bold and italicized text highlighting
the additions:

 

(C)           Constructive
Termination. For purposes of this Agreement, a “Constructive Termination”
shall be deemed to occur if the Employee elects to voluntarily terminate
employment within the ninety (90) day period immediately following any of the
following events: (i) Employee is required to relocate her place of
employment, other than a relocation within thirty (30) miles of the Company’s
Stamford offices, (ii) there is an intentional and material reduction in Employee’s
Base Salary other than any such reduction consistent with a general reduction
of pay across the executive staff as a group, as an economic or strategic
measure due to poor financial performance by the Company, (iii) there
occurs any other material breach of this Agreement by the Company,
(iv) Employee’s duties and/or responsibilities are materially diminished,
or (v) Employee no longer reports directly to the Company’s COO and/or the
CEO. Notwithstanding the foregoing, an event shall not constitute a
“Constructive Termination” unless Employee’s resignation occurs after a written
demand for substantial performance is delivered to the Company by Employee
which specifically identifies the condition which Employee believes constitutes
grounds for “Constructive Termination”  within thirty (30) days of the
occurrence of such condition, and

 

 

the Company has failed to cure such condition to the reasonable
satisfaction of Employee within thirty-one (31) days following the delivery of
such notice.

 

5.             Section 5(d) of
the Employment Agreement is amended as follows, with bold
and italicized text highlighting the additions:

 

(d)           Section 409A
Compliance. Notwithstanding anything in Section 5 to the contrary, if
and to the extent that any payments or benefits otherwise payable to Employee
under this Section involves a “deferral of compensation” under Section 409A
of the Internal Revenue Code of 1986, as amended (the “Code”) (as determined
both after consideration of any reasonably applicable exemptions and as set
forth in applicable treasury regulations or binding administrative notices or
rulings issued by the Internal Revenue Service), payment
of such amounts and benefits shall commence when you incur a “separation from
service” within the meaning of Treasury Regulation 

1.409A-1(h), without regard to any of the optional provisions thereunder, from
the Company and any entity that would be considered a single employer with the
Company under Code Section 414(b) or 414(c) (“Separation from
Service”). Such payments or benefits shall be provided in accordance with the
timing provisions of this Agreement by substituting this Agreement’s references
to “termination of employment” or “termination” with “Separation from Service.”
Notwithstanding the foregoin, if at the time of your Separation from Service,
you are a “specified employee” within the meaning of Code
Section 409A(a)(2)(B)(i), then the Company shall suspend such payments or
benefits until the earlier of (i) the first business day
of the seventh month following your Separation from Service, or (ii) the
date of your death (the “409A Suspension Period”).  As soon as reasonably practical after the end
of the 409A Suspension Period, the Company will make a lump sum payment to
Employee, in cash, in an amount equal to any payments and benefits that the
Company does not make during the 409A Suspension Period as if
there had not been a six-month delay imposed by this paragraph.  Thereafter, Employee will receive any
remaining payments and benefits due pursuant to this Agreement in accordance
with its terms (as if there had not been any suspension beforehand). Employee
shall be solely responsible for all taxes arising from payments and benefits
provided under this Agreement. For the purposes of this
Agreement, each payment that is part of a series of installment payments shall
be treated as a separate payment for purposes of Code Section 409A.

 

6.             All
Employment Agreement references to section numbers and defined terms are
amended to reflect the above modifications.

 

7.             Nothing
herein shall be held to alter, vary or otherwise affect the terms, conditions,
and provisions of the Employment Agreement, except as noted above.

 

[Signature Page to Follow]

 

 

IN WITNESS
WHEREOF, the parties hereto have agreed upon this
Amendment and such Amendment shall be effective as of the date first written
above.

 

	
   

  	
   

  	
  THE
  COMPANY:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  MxEnergy
  Inc.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ S.J. Murry

  	
   

  	
  /s/ Jeffrey
  A. Mayer

  
	
   

  	
   

  	
  Its:

  	
  COO

  	
   

  	
  CEO
  President

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  THE
  EMPLOYEE:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Gina
  Goldberg

  
	
   

  	
   

  	
  Name:

  	
  Gina
  Goldberg

  

 

 

January 6, 2009

 

Ms. Gina Goldberg 

[Address]

[City, State]

 

Re:        Correction
to Employment Agreement Amendment dated December 31, 2008

 

Dear Ms. Goldberg:

 

This letter responds to your understandable
concern that there is a mistaken reference to your outdated letter agreement
within the amendment, dated December 31, 2008 (the “Amendment”), to
your current employment agreement with MxEnergy Inc., dated June 13, 2007
(the “Employment Agreement”). There is good news in that the content of
the Amendment is specifically addressed to your Employment Agreement, with the
reference to your letter agreement being a mere mistake. To straighten this
out, we have signed this letter and ask that you do the same in order to
express our agreement that –

 

·              each
reference in the Amendment to “letter agreement” or “Letter Agreement” shall be
replaced with “employment agreement” or “Employment Agreement”, respectively;
and

 

·              the
first “Whereas” clause shall be modified by replacing “February 1, 2004” with
“June 13, 2007.”

 

For your convenience, a copy of the Amendment
is attached hereto as Exhibit A, and a copy of the Employment
Agreement is attached hereto as Exhibit B.

 

If you are comfortable with these changes
effective as of December 31, 2008, please sign below, and return a signed
copy to MxEnergy at your earliest convenience.

 

 

	
   

  	
   

  	
  Sincerely,

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  MxEnergy Inc.

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  

 

 

AGREED TO AND
ACCEPTED this

21 day of
January, 2009:

 

Gina Goldberg

 

	
  /s/ Gina GoldbergExhibit 10.43

 

March 27,
2001

 

Robert A. Blake

4045 Hobbs Hill Rd

Glenelg, MD 21737

 

Re:                             Employment
Agreement  

 

Dear Bob:

 

The purpose of this letter is to confirm our
agreement as to the terms and conditions of your employment with MxEnergy.com
Inc. (the “Company”).

 

1)              Employment.

 

a)              Employment; Duties. The Company
will employ you, and you agree to be employed by the Company, in the position
of Director of Customer Operations (or in such other management position as we
mutually determine). In such position, you will be responsible for the call
center and data processing operations and for related duties as directed by the
Company.

 

b)             Term of Agreement. The term of
this Agreement will begin on March 31, 2001 (“Employment Date”) and
terminate as specified in Section 4.

 

c)              Performance. During the
term of your employment, beginning with the Employment Date, you will devote
your full time, skill and best efforts to the affairs of the Company and
faithfully and diligently perform your duties under this Agreement. In the
performance of those duties, you will comply with the policies established from
time to time by the Company, the terms of which you will receive and about
which you will be responsible for familiarizing yourself upon your employment.

 

d)             No Outside Services. You agree
that during the term of your employment, beginning with the Employment Date,
you will not perform any services for other employers other than on a voluntary
or pro bono basis unless expressly approved by the Company.

 

 

2)              Compensation.

 

a)              Base Salary. Effective
with the Employment Date, the Company will pay you a base salary (“Base
Salary”) at an annual rate of $90,000, paid in accordance with its regular
payroll practices.

 

b)             Additional Compensation. In addition
to your Base Salary, the Company may pay you such bonuses as senior management
of the Company, with the approval of the Compensation Committee of the Board of
Directors, may determine from time to time. In making this determination,
senior management and the Compensation Committee will take into account your
performance, the overall performance and growth of the Company and such other
factors as senior management and the Compensation Committee deem relevant.
Nothing in this Agreement is intended to obligate the Company to pay you any
bonuses.

 

c)              Incentive Stock Option Plan. During the
period in which you are an employee of the Company, you will be entitled to
participate, to the extent of your eligibility, in the Company’s Incentive
Stock Option Plan. Subject to the terms of such Plan, any options granted but
not vested shall, in the event of termination for “cause,” be immediately
forfeited to the Company.

 

d)             “At Will.”
Notwithstanding anything herein to the contrary, you acknowledge that the
employment relationship between you and the Company is intended to be, and will
be, strictly “at-will,” meaning that you and the Company are free to terminate
the relationship at any time, with or without reason or “cause.”.

 

e)              For purposes of this
Agreement, “cause” shall mean (i) your conviction of, or pleading guilty
to, a felony-class crime; (ii) any action taken in bad faith by you that
has, or is likely to have, in the Company’s reasonable judgment, a material,
detrimental effect on the reputation of the Company or its business; (iii) an
act of fraud, dishonesty or gross misconduct by you; (iv) a material
breach by you of any provision of this Agreement that has not been cured within
thirty (30) days after written notice of such breach by the Company; or (v) your
negligent or willful failure or refusal to perform your duties, or to comply
with any covenants or agreements, under this Agreement (other than as a result
of a disability, as defined below), after the Company has given you written
notice thereof, and your failure within a reasonable period of time to correct
the acts or omissions described in such notice.

 

3)              Benefits.

 

a)              Benefit Plans. During the
term of your Employment, beginning with the Employment Date, you will be
entitled to participate, to the extent of your

 

2

 

eligibility, in employee benefits comparable to
those that the Company now or in the future makes available to its employees
generally.

 

b)             Vacation; Continuing
Education. During the term of this Agreement, you will be
entitled to such annual vacation, to the extent of your eligibility (three
weeks this calendar year, 4 weeks in future years) and time for attendance at
conferences, seminars or similar educational meetings, as the Company may
determine from time to time.

 

c)              Expenses. The Company
will pay directly, or reimburse you for, the reasonable and necessary expenses
that you incur in furtherance of and in connection with its business, in
accordance with the policies established from time by the Company. You will be
responsible for familiarizing yourself with such policies.

 

4)              Transition Period

 

a)              The Transition Period shall
initially be defined as 120 days from the signing of this agreement or until
the Maryland office is available, which occurs first. During the transition
period the Company has agreed to relocate its Louisville, Kentucky office to a
location within the greater Baltimore-Washington metropolitan area that has
been selected by you and approved by the company.

 

b)             Following the transition
period you will perform your principal responsibilities for the Company on a
day-to-day basis from the Maryland office.

 

c)              During the Transition Period
you agree to work in the Louisville Office and to perform such services as
necessary to both further the business and coordinate to move by the Company of
the service office from Louisville to the Maryland office.

 

d)             During the Transition
Period, the Company will pay one hundred percent (100%) of all your reasonable
and necessary expenses. You will agree to work with the Company to management
all Transition Period expenses. The Transition Period expenses include:

 

i)                 Round-trip air travel to and
from BWI and Louisville airports once per week anticipated to be each Friday
evening and Monday morning,

 

ii)              Temporary housing in a
one-bedroom or studio type apartment,

 

iii)           Ground transportation while
in Louisville,

 

iv)          Office parking while working
at the Kentucky service office

 

v)             Airport parking and

 

vi)           Reasonable long-distance
phone expenses

 

e)              If the service office is not
relocated to the Maryland office within the transistion period you elect to
terminate your employment with the Company and the Company will continue to pay
you your base salary for ninety (90) days after your termination.

 

3

 

5)     Termination of Agreement.

 

a)              Termination
without Cause. In the event of a termination
without cause, the Company shall provide you with at least 30 days
advance written notice. In the event of such
a termination, the Company may set an earlier date for your cessation of duties, provided that the Company
shall continue to pay you your Base Salary for a period of 30
days following receipt of the termination notice by the receiving party. In addition, if the Company terminates this Agreement without cause, the Company shall
pay you, as severance, an amount equal
to one month of your Base Salary.

 

b)             Termination for Cause. The Company
may terminate this Agreement immediately and without advance notice to you for
“cause” as defined in section 2 above.

 

c)              Other Termination Events. This
Agreement will terminate immediately upon your death or disability. For
purposes of this Agreement, “disability” shall mean an illness, injury or
condition that renders you incapable of performing your duties on a full-time
basis for a period of at least (three) months.

 

d)             Monies Owing from/to the
Company upon Termination. In the event of your termination for any
reason, you will be paid all compensation due for Base Salary for services
performed to the date of termination, less applicable withholdings and plus any
unreimbursed business expenses or other payments in accordance with the Company
policies. You expressly agree that the Company may deduct from, or offset
against, all amounts due you under this Agreement, all amounts owing from you
to the Company hereunder.

 

6)              Nondisclosure;
Noncompetition.

 

a)              Nondisclosure. You covenant
and agree that except as specifically required in the performance of your
duties hereunder, you will maintain in strictest confidence and not disclose to
any person or business entity or use for your personal benefit, gain or
otherwise, any confidential or proprietary information (whether concerning the
Company or any client of the Company) which you acquire or develop or have
acquired or developed during your employment with the Company. You agree that
upon termination of your employment, you will immediately deliver to the
Company any and all drawings, plans, documents, designs, records and other
written material regarding confidential or proprietary information then in your
possession. You hereby assign to the Company all right, title and interest in
and to any and all ideas, plans, designs and all other information of any kind
that you develop during the period of your employment with the Company and
related to the work that you perform for the Company. You agree to execute any
and all documents necessary to confirm this assignment. You also agree that
your obligations under this Section will survive any termination of this
Agreement.

 

4

 

b)             Noncompetition. You also
covenant and agree that while you are employed by the Company and for a period
of one year following the termination of such employment for any reason,
whether with or without cause, or whether initiated by you or the Company, you
will not directly or indirectly solicit business of the type performed by the
Company from, or work in any capacity for, any person or entity that was a
client of the Company or that was contacted as a client prospect by any
representative of the Company within ninety (90) days prior to such date of
termination. You further agree not to solicit or induce any employee of the
Company to leave its employ or to hire or attempt to hire any such employee.

 

c)              Remedies. You
acknowledge that your services and skills are unique, and that you will have
unique access to key clients of the Company with the express responsibility of
building goodwill with such clients and for the benefit of the Company. You
agree, therefore, that any violation or threatened violation of the provisions
of Section 5 a) or b) of this Agreement will cause irreparable injury to
the Company. Accordingly, you agree that in addition to such other rights and
remedies as the Company may have at law or in equity (including the right to
recover damages), the Company will be entitled to temporary and permanent
injunctive relief in the event of any violation or threatened violation by you
of the provisions of Section 5a) or b) of this Agreement.

 

d)             Enforceability. You
acknowledge that the restrictions contained in this Section 5 are
reasonable and that you have received significant and adequate consideration in
exchange for them. It is our mutual intention that these restrictions be
enforced to the fullest extent permitted by law. Therefore, should a court of
competent jurisdiction hold the restrictions, or any portion thereof, to be
invalid, the restrictions or such portion will be deemed automatically amended
to the extent made necessary by the court’s opinion.

 

7)     Miscellaneous.

 

a)              Company Property. You agree
that any computers or other goods purchased by the Company or delivered to you
by the Company for your use in connection with your work under this Agreement
shall remain property of the Company and shall be returned to the Company
immediately upon request of the Company; provided, however, that you may, at
any time, purchase such computers or other goods from the Company at cost;
provided, further, that in the event your engagement under this Agreement is
terminated you will deliver or return to the Company any information stored or
contained in any such computer.

 

b)             Entire Agreement. This
Agreement constitutes our entire agreement with respect to the subject matter
hereof and supersedes all prior oral or written agreements, commitments or
understandings with respect to the matters provided for herein.

 

c)              Amendments; Waivers. This
Agreement may not be amended, modified, superseded, cancelled, renewed or
extended except by written instrument

 

5

 

executed by both of us. The
failure of either of us to require performance of any provision of this
Agreement will not affect our right at a later time to enforce it. Any waiver
by either of us of a breach of any provision of this Agreement in any one or
more instances will not be deemed a continuing waiver of that breach or a
waiver of a breach of any other provision of this Agreement.

 

d)             Notices. Any notice or
other communication under this Agreement must be in writing and either
hand-delivered or sent by confirmed facsimile transmission, nationally-utilized
overnight delivery service or certified or registered mail (postage prepaid,
return receipt requested), addressed to each of us at our respective addresses
set forth above or at such other address as to which either of us may notify
the other in the manner set forth in this Section 6d). Any such notice or
other communication shall be deemed received on the date delivered if
hand-delivered or sent by confirmed facsimile transmission or
nationally-utilized overnight delivery service, or three business days after
deposit in the mails, if mailed.

 

e)              Assignability. The Company
will have the right to assign this Agreement to its successors or assigns,
including any person that acquires all or substantially all of its assets or
membership interests, or with which the Company merges or consolidates. This
Agreement and the benefits hereunder are personal to you. You cannot assign or
transfer them, nor may you delegate your duties hereunder to any person, firm
or Company.

 

f)                Binding Effect. This
Agreement will be binding upon and inure to the benefit of each of us and our
respective successors, heirs, executors, administrators, other legal
representatives or permitted assigns, as the case may be.

 

g)             Severability. If any
provision of this Agreement is declared void by a court, governmental agency or
other entity of competent jurisdiction, the remaining provisions of this
Agreement will remain in full force and effect.

 

h)             Governing Law. I agree that
I will submit to arbitration any claims arising out of or relating to my
application or candidacy for employment, employment and/or cessation of
employment by MxEnergy or its affiliates. Such arbitration shall be conducted
in Stamford, CT before and in accordance with the procedures of the American
Arbitration Association. This Agreement shall be governed by and construed
under the laws of the State of Connecticut, without regard to its choice of law
rules.

 

If the foregoing accurately reflects your
understanding of the terms and conditions of your engagement and employment by
the Company, please so indicate by signing the enclosed counterpart of this
letter and returning it to the Company.

 

	
   

  	
  MxEnergy.com Inc.

  

 

6

 

	
   

  	
  By:

  	
  /s/ Jeffrey A. Mayer

  
	
   

  	
   

  	
  Jeffrey A. Mayer

  
	
   

  	
   

  	
  President

  
	
   

  	
   

  
	
   

  
	
  Agreed to and accepted as of

  
	
  this 27th day of March 2001.

  
	
   

  
	
   

  
	
  /s/ Bob Blake

  	
   

  
	
  Bob Blake

  	
   

  

 

7

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