Document:

Exhibit 10.25

 

Pursuant to 17 CFR 240.24b-2, confidential information has been omitted
in places marked “[***]” and has been filed separately with the Securities and
Exchange Commission pursuant to a Confidential Treatment Application filed with
the Commission.

 

Google Services Agreement

 

	
  

  	
   

  	
  Google Inc.

  1600
  Amphitheatre Parkway

  Mountain
  View, CA 94043

  Tel: (650) 623-4000

  Fax:(650) 618-2678

  	
   

  	
  Google SPD Rep:  David Graham

  Google SPD Director: Sanjay Kapoor

  Google
  Sales Engineer: Julian
  Bill

  Google
  Legal Contact: Beth
  Martin,

  Jennifer
  Nam, James Murdock

  

 

	
  CUSTOMER
  (FULL LEGAL NAME): IAC/InterActiveCorp

  	
   

  	
  Agreement
  Effective Date: January 1, 2008

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Corporate
  Contact Information:

  	
   

  	
  Billing
  Contact Information:

  	
   

  	
  Legal
  Notices to:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Attention:

  	
   

  	
  Greg
  Blatt

  	
   

  	
  As
  provided by IAC for each IAC Site Affiliate

  	
   

  	
  Greg
  Blatt

  	
   

  
	
  Title:

  	
   

  	
  EVP,
  General Counsel

  	
   

  	
   

  	
   

  	
  EVP,
  General Counsel 

  	
   

  
	
  Address, City, State,

  Postal Code, Country:

  	
   

  	
  555
  W. 18th Street
 New York, NY 10011

  	
   

  	
   

  	
   

  	
  555
  W. 18th Street

  New York, NY 10011

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Phone:

  	
   

  	
  212-314-7274

  	
   

  	
   

  	
   

  	
  212-314-7274

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Fax:

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Email:

  	
   

  	
  blatt@iac.com

  	
   

  	
   

  	
   

  	
  blatt@iac.com

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Technical Contact:

  	
   

  	
  Name:
  As provided by IAC for each IAC Site Affiliate

  	
   

  	
  Email:

  	
   

  	
  Tel:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Customer
  Wire Transfer Info (if applicable):

  	
   

  	
  D&B
  DUNS Number:

  	
   

  	
  VAT/Tax
  Number:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Initial
  Services Term: January 1, 2008 – December 31, 2012

  	
   

  

 

	
  [***]

  

 

	
  [***]

  	
   

  	
  [***]

  	
   

  	
  [***]

  	
   

  

 

	
  [***]

  	
   

  	
   

  [***]

  	
   

  	
   

  [***]

  	
   

  

 

	
  ADSENSE
  SERVICES

  

 

	
  ADSENSE FOR SEARCH (“AFS”)

  	
   

  	
  AFS
  Revenue Share

  Percentage for Sites

  (%)

  	
   

  	
  AFS
  Revenue Share

  Percentage for

  Syndicated Sites (%)

  	
   

  	
  Specifications

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  x AdSense for Search

  AFS Site: See Exhibit A.

  	
   

  	
  [***]

  	
   

  	
  [***]

  	
   

  	
  Ads/Results Page Minimum Number: [***]

   

  See Exhibit B for other AFS Specifications

  

 

Confidential

 

1

 

	
  ADSENSE FOR CONTENT (“AFC”)

  	
   

  	
  AFC Revenue Share

  Percentage (%)

  	
   

  	
  Specifications

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  x AdSense for Content

  AFC Site: See Exhibit A

  	
   

  	
  [***]

  	
   

  	
  Ads/Results Page Minimum Number: [***]

   

  See Exhibit D for AFC Specifications

  

 

	
  To Be Completed By Google Finance

  
	
   

  
	
  Customer
  PO #:

   

  o
  Credit Check Complete

  	
   

  	
  Currency:

  x US Dollar 

  o Japanese Yen

  o Other:

  

 

2

 

This
Google Services Agreement (“Agreement”)
is entered into by and between Google Inc., on behalf of itself and its
Affiliates (“Google”) and  IAC/InterActiveCorp, a corporation formed under the laws of
Delaware  (“IAC”).  This Agreement, effective as of January 1,
2008 (“Effective Date”), sets forth the terms
and conditions under which Google makes certain Services available to IAC and
certain of its Affiliates.

 

1.             General Definitions.

 

1.1      “Above-the-fold” means that portion of an Internet browser
that is visible to any End User at a minimum resolution of 800 by 600 pixels without
scrolling within the applicable Web page, as viewed through an Internet browser
application considered among the top two (2) most widely used from time to
time.

 

1.2      “Ads” or “Advertising Results”
means advertisements served by Google under the Agreement.

 

1.3      “AFC Ads” means the advertisements provided by Google to the IAC Site Affiliates under this
Agreement through Google’s AFC Service.

 

1.4      “AFC Percentage” means the percentage set forth under the
title “AFC Revenue Share Percentage” on
the Cover Page of this Agreement.

 

1.5      “AFC Protocol” means the protocol provided
by Google for accessing the AFC Services, as such protocol may be updated by
Google from time to time.

 

1.6      “AFC Request” means a request for AFC Ads (including requests
for [***]) in connection with a pageview of a page on which AFC Ads are to
be displayed.

 

1.7      “AFC Results Set” means the set of AFC Ads transmitted by
Google in response to an AFC Request.

 

1.8      “AFC Revenues”
for any period during the Services Term means ad revenues that are recognized by Google in such
period and attributed to AFC Ads displayed on the AFC Sites in such period in
accordance with the requirements of this Agreement. [***]

 

1.9      “AFC Service”
means [***] the AdSense for Content Service.

 

1.10    “Affiliate” means, with respect to either party, any
corporation, firm, partnership, person or other entity, whether de jure or de
facto, which directly or indirectly owns, is owned by or is under common
ownership with such party, and any person, firm, partnership, corporation or
other entity actually controlled by, controlling or under common control with
such party.  [***]

 

1.11    “AFS Ads” means the advertisements provided by Google to the IAC Site Affiliates under this
Agreement through Google’s AFS Service.

 

1.12    “AFS Percentage for Sites” means the percentage set forth
under the title “AFS Revenue Share Percentage for Sites” on the Cover Page of
this Agreement.

 

1.13    “AFS Percentage for [***]” means the percentage set forth
under the title “AFS Revenue Share
Percentage for [***]” on the Cover Page of this Agreement.

 

1.14    “AFS Protocol” means the protocol provided
by Google for accessing the AFS Services, as such protocol may be updated by
Google from time to time.

 

1.15    “AFS Query” means a query sent to Google by the IAC Site Affiliates to be
processed by Google’s AFS Service as permitted herein.

 

1.16    “AFS Results Set” means the set of AFS Ads transmitted by
Google to the IAC Site Affiliates in
response to an AFS Query.

 

3

 

1.17    “AFS Revenues”
for any period during the Services Term means ad revenues from Sites [***] that are recognized by Google in such
period and attributed to AFS Ads displayed on the AFS Sites [***], in such
period in accordance with the requirements of this Agreement.  [***].

 

1.18    “AFS Service” means,
[***] the AdSense for Search Service.

 

1.19    [***]

 

1.20    [***]

 

1.21    “Brand Features” means the trade names,
trademarks, service marks, logos, domain names, and other distinctive brand
features of each party, respectively, as secured by such party from time to
time.

 

1.22    [***]

 

1.23    “Client Application” means any application, plug-in, helper,
component or other executable code that runs on user’s computer; examples of
Client Applications include those that provide instant messaging, chat, email,
data, file viewing, media playing, file sharing, games, internet navigation,
search and other services.  [***]

 

1.24    “Client ID” means a unique alphanumeric code
provided to and used by the IAC Site Affiliates as permitted herein.

 

1.25    “Customer Content” means any editorial, text, graphic,
audiovisual, and other content that is served to End Users of the Sites, [***]
and that is not provided by Google.

 

1.26    “Destination Page” means any Web page which
may be accessed by clicking on any portion of an Advertising Result.

 

1.27    [***]

 

1.28    “End Users” of a particular Site [***] means individual,
human end users who visit or use the applicable Site [***].

 

1.29    “Google Administrative Console” means a password protected
area of Google’s website which allows the IAC Site Affiliates to view reports
and update contact information [***].

 

1.30    “Google Protocols” means any of Google’s then current
protocols for accessing and implementing the Services.

 

1.31    “IAC Site Affiliates” means, at any given time, those of IAC’s
Affiliates which (i) operate and manage the day-to-day activities of one
or more of the Sites, or (ii) manage the provision of the [***] to one or
more of the [***].  In the event IAC
either (i) operates and manages the day-to-day activities of one or more
of the Sites, or (ii) manages the provision of the [***] to one or more of
the [***], then IAC shall also be included in the definition of IAC Site
Affiliates.

 

1.32    “IAC Party”
means IAC or any of its Affiliates and “IAC
Parties” means IAC and its Affiliates.

 

1.33    “Intellectual Property Rights” means any and
all rights existing from time to time under patent law, copyright law,
semiconductor chip protection law, moral rights law, trade secret law,
trademark law, unfair competition law, publicity rights law, privacy rights
law, and any and all other proprietary rights, as well as, any and all
applications, renewals, extensions, restorations and re-instatements thereof,
now or hereafter in force and effect worldwide.

 

1.34    [***]

 

1.35    “Query” or “Queries” means
the AFS Queries [***].

 

4

 

1.36    “Results Page” means a Web page on which Google
Advertising Results are displayed.

 

1.37    [***]

 

1.38    “Services” means the [***], AFS Service and AFC Service,
collectively.

 

1.39    “Site(s),” as that term is used in this Agreement, means the
AFS Site(s) and AFC Site(s) collectively.  The “AFS Site(s)”
and “AFC Site(s)” are those websites as set
forth in Exhibit A, as the same may be amended from time to time as
follows.  IAC may add to the list of AFS
Sites and/or AFC Sites [***], provided that in each such case, the websites
conform to the requirements set forth in this Agreement.  With Google’s prior written approval, IAC may
add to the list of AFS Sites and/or AFC Sites from time to time [***], provided
that the websites conform to the requirements set forth in this Agreement.  [***]

 

1.40    [***]

 

1.41    [***]

 

1.42    “Valid IP Addresses” means those Internet
protocol addresses provided by the IAC Site Affiliates and approved by Google
prior to implementation of the applicable Services.  The list of Valid IP Addresses may be
modified by the IAC Site Affiliates upon forty-eight (48) hours notice to
Google via the online Google Administration Console [***] or such other URL as
may be updated by Google from time to time.

 

1.43    [***]

 

2.             AFS Service Provisions

 

2.1      Scope
of AdSense for Search Services.  Google will provide the IAC Site
Affiliates with AFS Ads through its AFS Service for display on the
AFS Sites [***] as permitted
herein.  The parties agree to work
in good faith to ensure prompt implementation of the AFS Services on each AFS
Site [***]

 

2.2      Implementation
of AFS Services.  Unless
otherwise mutually agreed upon, the IAC Site Affiliates shall implement the AFS
Services in a manner that conforms to the AFS Specifications set forth in the
cover pages of this Agreement and conforms to Google’s brand treatment
guidelines for AFS Services as updated by Google from time to time [***] or
such other URL as Google may provide from time to time (“AFS Guidelines”),
in each case [***] that [***] complies with the reasonable technical and
implementation requirements provided by Google from time to time, including
those instructions contained in the documentation setting forth the AFS
Protocol.

 

2.3      AFS
Queries.  Unless (and then only to the extent)
otherwise approved by Google in writing, IAC understands and agrees and the IAC
Site Affiliates shall ensure that:  (a) queries
sent to Google for processing under its AFS Service [***], and (b) the IAC
Site Affiliates shall send such AFS Queries to Google for processing under its
AFS Services [***].  Notwithstanding
anything to the contrary, Google will have no obligation to process AFS Queries
that are not sent in compliance with the requirements of this Agreement.  [***]

 

2.4      [***].  Each IAC Site Affiliate shall deliver to
Google all of the queries from its [***]  and except as otherwise
provided herein, display on AFS Sites [***] the number of AFS Ads as set forth
on the cover page of the Agreement, as available (or more [***]).  To the extent available, AFS Ads shall be
provided to each IAC Site Affiliate by Google in response to each AFS Query
submitted to Google as described herein. [***]

 

2.5      Operation
of AFS Services.  Each IAC Site Affiliate shall ensure that
each AFS Query from its Sites will [***] request no fewer than the minimum
number of AFS Ads per AFS Results Page stated in the Cover Page(s) of
this Agreement.  Upon Google’s receipt of
an AFS Query, Google shall transmit an AFS Results Set with the number of AFS
Ads requested by an IAC Site Affiliate, to the extent available, via Google’s
network interface in accordance with the AFS Protocol.  The IAC Site Affiliates shall then display, in
each instance, the entire AFS Results Set that corresponds to such AFS Query on
the applicable AFS Site [***] in the manner contemplated by this Agreement,
without editing, filtering, reordering, truncating, adding content to or
otherwise modifying such AFS Results Set, provided that [***].

 

5

 

2.6      IAC
Responsibilities.  Google shall not be responsible for receiving
queries directly from the IAC Site Affiliates’ End Users, for transmission of
data between the IAC Site Affiliates and Google’s network interface or for
displaying the Result Sets to the IAC Site Affiliates’ End Users [***].  The IAC Site Affiliates, at their own
expense, shall be responsible for providing customer support services to its
End Users.

 

2.7      Labeling,
Branding and Attribution.  IAC and/or the IAC Site Affiliates shall
ensure that each AFS Ad, or each cluster or grouping of AFS Ads, is
unambiguously marked as [***] “Sponsored Listings,” [***].

 

2.8      License
to AFS Protocol.  Google
grants to IAC and the IAC Site Affiliates a limited, nonexclusive and
non-sublicensable license during the Services Term to use the AFS Protocol
solely for the purpose of transmitting AFS Queries and other required
information and receiving AFS Result Sets, as applicable, solely to the extent
permitted hereunder.  Except to the
limited extent expressly provided in this Agreement, Google does not grant, and
no IAC Party shall acquire, any right, title or interest (including, without
limitation, any implied license) in or to any Google Intellectual Property
Rights; and all rights not expressly granted herein are reserved to Google.

 

3.             AFC Service Provisions

 

3.1      Scope
of AdSense for Content Services.  [***]

 

3.2      Implementation
of AFC Services.  Unless otherwise agreed to by Google in
writing,  the IAC Site Affiliates shall
implement AFC Services in a manner that conforms to the AFC Specifications set
forth in the Cover Page(s) of this Agreement and conforms to Google’s
brand treatment guidelines for AFC Services as updated by Google from time to
time [***] (collectively, the “AFC Guidelines”)
in each case, in a manner which [***] complies with the technical and
implementation requirements provided by Google from time to time, including
those instructions contained in the documentation setting forth the AFC
Protocol.

 

3.3      AFC
Requests.  The IAC Site Affiliates shall request and
display AFC Ads as provided herein.  Each
AFC Request must contain [***] provided and used as specified by Google.  Upon Google’s receipt of an AFC Request as
described above, Google will transmit an AFC Results Set which includes the
number of AFC Ads requested by IAC Site Affiliates, to the extent available,
via Google’s network interface in accordance with the AFC Protocol.  The IAC Site Affiliates’ code shall, in each
instance, ensure the display of the entire AFC Results Set that corresponds to
such AFC Request in the manner contemplated by this Agreement, without editing,
filtering, reordering, truncating, adding content to or otherwise modifying
such AFC Results Set.  The IAC Site
Affiliates will not send more than [***] per pageview unless otherwise
authorized by Google.  Notwithstanding
anything to the contrary, Google will have no obligation to process AFC
Requests that are not sent in compliance with the requirements of this
Agreement.  [***]

 

3.4      Labeling;
Branding and Attribution.  IAC and the IAC Site Affiliates shall ensure
that each AFC Ad, or each cluster or grouping AFC Results Set, is unambiguously
identified with the label [***] “Sponsored Listings,” [***] or other comparable
designation as mutually agreed by the parties [***].

 

3.5      License
to AFC Protocol.  Google grants to IAC and the IAC Site
Affiliates a limited, nonexclusive and non-sublicensable license during the
Services Term to use the AFC Protocol solely for the purpose of transmitting
AFC Requests and other required information and receiving AFC Results Sets
solely to the extent permitted hereunder. 
Except to the limited extent expressly provided in this Agreement, Google
does not grant, and no IAC Party shall acquire, any right, title or interest
(including, without limitation, any implied license) in or to any Google
Intellectual Property Rights; and all rights not expressly granted herein are
reserved to Google.

 

4.             Services
Implementation.  The IAC Site Affiliates shall implement the
Services in accordance with this Agreement. 
If Google notifies an IAC Site Affiliate of an implementation problem on
its Sites, [***].  The IAC Site
Affiliates shall [***] implement adequate corrective modifications to solve any
such implementation problem as reasonably required by Google. The IAC Site
Affiliates shall [***] monitor and immediately disable any access or use by
third parties that is not in compliance with this Agreement (including without
limitation, spammers or any third party websites) (such access or use, “Unauthorized Use”). If Google notifies an IAC Site Affiliate
of Unauthorized Use on its Sites, then IAC and/or the IAC Site Affiliate shall
immediately disable such Unauthorized Use.

 

6

 

5.             Ownership,
Rights.  The IAC Site Affiliates shall (i) own
and control [***] percent [***] of the Site(s) [***], and (ii) otherwise
have and maintain throughout the Services Term all rights, authorizations and
licenses that are required with respect to the Site(s), [***] to permit Google
to perform the Services contemplated under this Agreement.

 

6.             Customer
Content.  Site [***] content controlled by the IAC Site
Affiliates shall not contain any obscene, hate-related or excessively violent
content or contain any other material, products or services that violate or
encourage conduct that would violate any criminal laws, any other applicable
laws, or any third party rights (“Unacceptable Content”).
[***]

 

7.             [***]

 

7.1      [***]

 

(a) 
[***]

 

(b) 
[***]

 

(c) 
[***]

 

7.2          [***]

 

(a) [***]

 

(b) [***]

 

(c) [***]

 

(d) [***]

 

8.             [***]

 

8.1     [***]

 

8.1.1
[***]

 

8.1.2
[***]

 

8.2      [***]

 

8.3      [***]

 

9.             Beta
Features.
Certain Services may include Beta Features [***].  Beta Features are provided “as is” and any
use thereof shall be undertaken solely at IAC’s and/or an IAC Site Affiliate’s
own risk.  Google reserves the right, in
its sole discretion, to include or cease providing Beta Features as part of any
Services at any time.

 

10.          Prohibited Actions.  IAC and
the IAC Site Affiliates shall not [***]:

 

10.1    edit,
modify, truncate, filter or change the order of the information contained in
any Advertising Results (either individually or collectively) [***];

 

10.2    frame
any Results Page or Destination Page as a separate HTML document
within a frame;

 

10.3    redirect
an End User away from the Destination Page, provide a version of the
Destination Page different from the page an End User would access by
going directly to the Destination Page, intersperse any content between an
Advertising Result and the corresponding Destination Page or implement any
click tracking or other monitoring of Advertising Results [***];

 

7

 

10.4    display
any Advertising Results in pop-up, pop-under, exit windows, expanding buttons,
or animation;

 

10.5    display
any Advertising Results to any third parties other than End Users;

 

10.6    minimize,
remove or otherwise inhibit the full and complete display of any Advertising
Results, and the corresponding Destination Pages;

 

10.7    [***];

 

10.8    directly
or indirectly access, launch and/or activate the Services through or from, or
otherwise incorporate the Services in, any software application, website or other
means other than the Sites [***];

 

10.9    transfer,
sell, lease, syndicate, sub-syndicate, lend, or use for co-branding,
timesharing, service bureau or other unauthorized purposes any Services or
access thereto (including, but not limited to [***] Advertising Results, or any
part, copy or derivative thereof) [***];

 

10.10  [***];

 

10.11  directly
or indirectly generate queries, or impressions of or clicks on Search or
Advertising Results, through any automated, deceptive, fraudulent or other
invalid means (including, but not limited to, click spam, robots, macro
programs, and Internet agents [***];

 

10.12  [***];

 

10.13  encourage
or require End Users or any other persons, either with or without their
knowledge, to click on Advertising Results or enter queries through offering
incentives or any methods that are deceptive or fraudulent (each of the
foregoing in subsections 10.11, 10.12 and 10.13 a “Fraudulent
Act”) [***];

 

10.14  modify,
adapt, translate, prepare derivative works from, decompile, reverse engineer,
disassemble or otherwise attempt to derive source code from any Services, the
Google Protocol, or any other Google technology, content, data, routines,
algorithms, methods, ideas design, user interface techniques, software,
materials, and documentation [***];

 

10.15  remove,
deface, obscure, or alter Google’s copyright notice, trademarks or other
proprietary rights notices affixed to or provided as a part of any Services,
the Google Protocol, or any other Google technology, software, materials and
documentation;

 

10.16  “crawl”,
“spider”, index or in any non-transitory manner store or cache Advertising
Results, or any part, copy or derivative thereof; or

 

10.17  create
or attempt to create a substitute or similar service or product through use of
or access to any of the Services or proprietary information related thereto
[***].

 

10.18  [***]

 

11.          [***]

 

12.          [***] Tracking.  Notwithstanding anything to the contrary in
this Agreement, Google may track the performance of Ads displayed on the Sites
[***].

 

13.          Filters.

 

13.1    Initial
Blocklist.  IAC Site Affiliates may, at their option,
provide Google with a list of URLs for URL Blocking (the “Blocklist”),
which initial Blocklist for each Client ID is attached hereto as Exhibit F. 
[***]  Google will use
commercially reasonable efforts to exclude from Ads served under this Agreement
Ads that contain the URLs set forth in Exhibit F;
provided that in all cases, the parties

 

8

 

acknowledge and agree that
there will be occasions where Ads are not excluded in accordance with this
section despite the commercially reasonable efforts of Google [***].

 

13.2    Updates
to Blocklist.  IAC Site Affiliates may request that Google
update the Blocklist no more than once every [***] days for Sites, and no more
than once every [***] days for [***]. 
Google will add each set of URLs to the Blocklist [***] of Google’s
receipt of such update request [***].

 

13.3    Other
Filters.  Certain Services may contain other filtering
capability, including, without limitation, SafeSearch, Country Restrict,
Language Restrict, and AdSafe. 
[***].  Notwithstanding anything
to the contrary, if IAC or an IAC Site Affiliate elects to enable any such
filters, (a) it is that party’s responsibility to enable such features in
accordance with the instructions provided by Google in the applicable Service
protocol, and (b) Google cannot and does not make any representation,
warranty or covenant that all results will be limited to results elected by
enabling such filter(s).  For example,
but without limiting the foregoing, if an IAC Site Affiliate elects SafeSearch,
Country Restrict, Language Restrict and/or AdSafe, Google cannot ensure and
does not make any representation, warranty or covenant that all results will be
limited to the countries or languages selected or that all objectionable
results will be prevented.

 

14.          Updates or Modifications.

 

14.1  [***]

 

14.1.1     [***]

 

14.1.2     [***]

 

14.1.3     [***]

 

14.1.4     [***]

 

14.2  [***]

 

14.3  To the Sites.  IAC and
each IAC Site Affiliate may update the design, content or underlying technology
of the Sites in a manner consistent with its obligations contained herein;
provided that IAC and/or each IAC Site Affiliate agrees that it shall keep
Google informed of all planned material updates to such Sites which can
reasonably be expected to impact the Services.

 

15.          Assignment of Client IDs. 
[***]

 

16.          Test Queries.

 

16.1        Google
Test Queries.  During the Services Term, Google shall
have the right to send uncompensated queries (to test both the AFS and AFC
Services) using automated processes to the Sites, [***] in order to verify that
Ads are being served in compliance with the terms of this Agreement, to monitor
or optimize the Services, and to enable Google to respond to IAC’s and/or the
IAC Site Affiliates’ requests to test products or services on the Sites,
[***].  During each month of the Services
Term, Google may (i) send uncompensated queries and if so, shall use
commercially reasonable efforts to send an amount no greater than [***] percent
[***] of the total number of Queries and AFC Requests, during such month; and (ii) conduct
automated testing of the Sites, [***] from a block of pre-identified IP
Addresses.

 

16.2        [***]

 

17.          Reports.  Google
will provide each IAC Site Affiliate with up-to-date online status reports via
the Google Administrative Console for each [***] IAC Site Affiliate.  [***]

 

18.          Data.

 

18.1    Definition
of IAC Data.  The parties agree that, as between IAC and
Google, any data or information [***] prior to or during the Services Term,
including, without limitation, data or information [***] but not data from
[***].  In addition, as between Google
and IAC, any data or information [***] under this Agreement [***].

 

9

 

18.2    Definition
of Google Data.  The parties agree that, as between IAC and
Google, any data or information [***] without limitation, data or information
from [***]

 

18.3  Permitted and Prohibited Uses.

 

18.3.1     IAC Data. [***]

 

18.3.2     Google Data.  [***]

 

18.3.3      [***]

 

18.3.4      [***]

 

18.3.5     Legally Required Uses.  Notwithstanding the foregoing or anything to the
contrary herein, either party may use the [***] to the extent required by law,
in order to comply with legal process, preventing fraud or imminent harm, and
ensuring the security of its network and services.

 

19.          [***]

 

20.          Additional Features

 

20.1    [***]

 

20.2    [***]

 

20.3    [***]  IAC and the IAC Site
Affiliates shall comply with the Policy Guidelines [***] attached hereto as Exhibit I.  [***] may be updated from time to
time during the Services Term, as further described in the Guidelines [***].

 

20.4    [***]

 

  20.5  [***]

 

20.6    [***]

 

21.          Payment.

 

21.1        Fees and Payment Timeframes.

 

21.1.1     [***]

 

21.1.2     AdSense for Search. 
Subject to the terms and conditions of this Agreement, for each month
during the Services Term, the fees shall be (i) the AFS Percentage for
Sites of AFS Revenues from the Sites, and (ii) AFS Percentage for
Syndicated Sites of AFS Revenues from the Syndicated Sites, attributable to such
month.  For each new AFS Site, Google’s
obligation to make payments under this Section shall not commence until
Google’s technical personnel provide written approval of an IAC Site Affiliate’s
initial implementation of the AFS Service on such new AFS Site, which shall not
be unreasonably withheld or delayed. 
[***]  For the avoidance of doubt,
actual payments (i.e., which entity receives payment for which AFS Site) shall
be in accordance with Section 21.3.

 

21.1.3     AdSense for Content. Subject to the terms and conditions of
this Agreement, for each month during the Services Term, the fees shall be the
AFC Percentage of AFC Revenues attributable to such month.  For each new AFC Site, Google’s obligation to
make payments under this Section shall not commence until Google’s
technical personnel provide written approval of an IAC Site Affiliate’s initial
implementation of the AFC Service on such new AFC Site, which shall not be
unreasonably withheld or delayed. 
[***]  For the avoidance of doubt,
actual payments (i.e., which entity receives payment for which AFC Site) shall
be in accordance with Section 21.3.

 

21.2    Non-Qualifying
Ads.  Notwithstanding any of the foregoing, Google
shall not be liable for payment in connection with (a) any amounts which
result from invalid queries, or invalid impressions of (or 

 

10

 

clicks on) Ads, generated by
any person, bot, automated program or similar device, including, without
limitation, through any Fraudulent Act, in each case as reasonably determined
by Google [***] or (b) impressions of Ads or clicks on Ads delivered
through an implementation which is not initially approved by Google pursuant to
this Agreement or subsequently fails to meet Google’s implementation requirements
and specifications, [***].  The number of
Queries, and impressions of and clicks on Ads, as reported by Google, shall be
the number used in calculating payments hereunder.  [***]

 

21.3  Methods of Payment.

 

21.3.1     Payments to Google. 
All monthly payments due to Google shall be in the currency specified
herein.  Any charges for converting
foreign currency shall be the responsibility of IAC and/or the IAC Site
Affiliates and shall be invoiced accordingly.  
If paid in US dollars, payments to Google shall be made via wire
transfer with the following instructions:

 

	
  [***]

  	
   

  	
  ABA#
  [***]

  	
   

  	
  Account
  # [***]

  
	
  [***]

  	
   

  	
  [***]

  	
   

  	
  Federal
  Tax I.D. # [***]

  

 

21.3.2     Payments to IAC. 
Payments to IAC, or the IAC Site Affiliate as applicable, shall be made
monthly pursuant to the wire transfer instructions specified on the Cover Page of
this Agreement.  IAC may provide
different payment instructions for different Sites [***].  For any Site which received Services prior to
the Effective Date, Google shall make payments pursuant to the pre-existing
payment instructions.  In addition,
Google may, at its option, offset any payment obligations to IAC and/or the IAC
Site Affiliates that Google may incur hereunder against any product or service
fees (including late fees) owed and not yet paid by IAC and/or the IAC Site
Affiliates under this Agreement, in addition to whatever other rights and
remedies Google may have hereunder.  In
addition, Google reserves the right to withhold and offset against its payment
obligations hereunder, or require IAC and/or the IAC Site Affiliates to pay to
Google (within thirty (30) days of any invoice therefor), any amounts Google
may have overpaid to IAC and/or the IAC Site Affiliates in prior periods.

 

21.4    Taxes
and Other Charges.  All payments
under the Agreement are exclusive of taxes imposed by any governmental
entity.  IAC and/or the IAC Site
Affiliates shall
pay any applicable taxes, including sales, use, personal property, value-added,
excise, customs fees, import duties or stamp duties or other taxes and duties
imposed by governmental entities of whatever kind and imposed with respect to
the transactions for services provided under the Agreement, including penalties
and interest, but specifically excluding taxes based upon Google’s net
income.  When Google has the legal
obligation to collect any applicable taxes, the appropriate amount shall be
invoiced to and paid by IAC and/or the IAC Site Affiliates “net thirty (30)
days” from the date of invoice or other notification.  IAC and the IAC Site Affiliates shall
promptly provide Google with such documentation as may be required by the
applicable governmental entity in order for Google to process payments
hereunder (including, without limitation, a valid certificate of exemption from
obligation to pay taxes as authorized by the appropriate governmental entity),
and Google may withhold any payments required to be made hereunder until IAC
and/or the IAC Site Affiliates has provided such documentation.  IAC and the IAC Site Affiliates shall
promptly provide Google with original or certified copies of all tax payments
or other sufficient evidence of tax payments at the time such payments are made
pursuant to the Agreement.

 

21.5  Audit rights.

 

21.5.1     [***]

 

21.5.2     Google Audit Rights.  Upon fifteen (15) business days prior written
notice, Google, at its own expense, may retain a nationally recognized
independent auditor (whose fees are not contingency based) to review and audit
IAC’s and/or an IAC Site Affiliate’s relevant records to verify IAC’s and/or an
IAC Site Affiliate’s compliance with the requirement to [***].  Such audit shall:  (a) be subject to IAC’s and/or an IAC
Site Affiliate’s reasonable security and confidentiality requirements; (b) occur
no more than once every six (6) months and not during the first or last
three (3) weeks of a calendar quarter, but if two (2) successive
audits show that IAC and the IAC Site Affiliates are in compliance, then the
frequency of audits shall occur no more than once every twelve (12) months, and
(c) transpire during IAC’s and/or an IAC Site Affiliate’s normal business
hours.  If the audit results in showing
non-compliance with [***], then IAC and/or the IAC Site Affiliates shall remedy
and pay for the reasonable costs associated with such audit.

 

11

 

21.5.3     Officer’s Certificate.  At Google’s written request, but no more often
than once every calendar quarter during the Term, IAC shall provide Google with
a written certificate signed by an authorized officer of IAC that certifies as
of the date of such certificate the IAC Site Affiliates are compliance with
[***].

 

21.6        [***]

 

22.          Confidentiality; PR.

 

22.1    Confidential
Information.
Each party (the “Receiving Party”) understands that
the other party (the “Disclosing Party”)
has disclosed or may disclose information of a confidential nature including,
without limitation, data or other materials that is (a) clearly and
conspicuously marked as “confidential” or with a similar designation; (b) is
identified by the Disclosing Party as confidential and/or proprietary before,
during, or promptly after presentation or communication; or (c) is
disclosed in a manner which the Discloser reasonably communicated, or the
Receiving Party should reasonably have understood under the circumstances that
the disclosure should be treated as confidential, whether or not the specific
designation “confidential” or any similar designation is used (“Confidential Information”).

 

22.2    Disclosure
and Use.   Except with the prior written
consent of the Disclosing Party, neither party shall (i) disclose any
Confidential Information other than to employees and contractors who have a
need to know and any disclosure to contractors may only be to contractors who
have signed a non-disclosure agreement to protect the confidential information
of third parties; (ii) make copies or allow others to make copies of such
Confidential Information except as is reasonably necessary for internal
business purposes to fulfill the obligations of this Agreement; or (iii) remove
or export any such Confidential Information from the country of the Receiving
Party to the extent prohibited by applicable export laws.  The Receiving Party shall treat the
Confidential Information with at least the same degree of care and protection
as it would use with respect to its own Confidential Information of a similar
nature, but in no event less than a reasonable standard of care. The foregoing
obligations shall survive for a period of [***] years following the termination
or expiration of this Agreement, except in the case of source code, in which
case the foregoing obligations shall be perpetual. In addition, nothing in this
Agreement shall prohibit or limit either party’s use or disclosure of
information (a) previously known to it without obligation of confidence, (b) independently
developed by or for it without use of or access to the other party’s
Confidential Information, (c) acquired by it from a third party which is
not under an obligation of confidence with respect to such information, or (d) which
is or becomes publicly available through no breach of this Agreement.  A party may disclose Confidential Information
that is required to be disclosed by operation of law, court order or other
governmental demand provided the Disclosing Party is given prompt notice of
such requirement and the scope of such disclosure is limited to the extent
possible.   Each party shall use
Confidential Information of the other party solely for the purposes of
fulfilling its obligations or exercising its rights under this Agreement or as
expressly permitted in this Agreement.

 

22.3    Injunctive  Relief.  The parties acknowledge and agree that breach
of this Section 22 may cause irreparable injury for which monetary damages
are not an adequate remedy.  Accordingly,
each party may seek injunctive relief and any other available equitable
remedies to enforce the provisions of this section, without posting a bond if
otherwise required by law.

 

22.4    Confidentiality
of Agreement.  Each party agrees that the terms of this Agreement
shall be deemed Confidential Information of the other party, provided that in
addition to the permitted disclosures under Section 13.2, either party may
disclose the terms of this Agreement (i) if required to do so by law or
generally accepted accounting principles, (ii) as required to assert its
rights hereunder, and (iii) to its own directors, employees, attorneys,
accountants, and other advisors on a “need to know” basis and under an
obligation of confidentiality no less stringent than set forth herein. Each
party agrees that the Disclosing Party will be given prompt notice of any
disclosure made pursuant to clause (i) or (ii) above, and that any
such disclosure shall be limited to the extent possible.  Notwithstanding the foregoing, in the event
that IAC is required to file a copy of this Agreement or a summary of this
Agreement with the Securities and Exchange Commission, the parties shall create
a mutually agreeable redacted Agreement or a mutually agreeable summary that
complies with applicable laws and regulations.

 

22.5    PR. 
Neither party shall issue any press release or other public statement
[***] in connection with this Agreement without the other party’s prior review
and approval.

 

12

 

23.      Intellectual Property; Brand Feature Licenses.

 

23.1    Google
Rights.  As between the IAC Parties and Google, IAC
agrees that no IAC Party will claim or acquire, based on this Agreement or use
of the Services hereunder, any right, title or interest in the Services or to
the Intellectual Property Rights associated with the Services, except for the
limited use rights expressly set forth in this Agreement.  The IAC Parties shall not modify, adapt,
translate, prepare derivative works from, decompile, reverse engineer,
disassemble or otherwise attempt to derive source code of the Services, any
Google Protocols, Google Brand Features, or any other software, or
documentation associated with the Services. 
The IAC Parties will not remove, obscure, or alter Google’s copyright
notice, trademarks, or other proprietary rights notices affixed to or contained
within any Google Services, software, or documentation. Notwithstanding
anything to the contrary in this section, to the extent that an IAC Party owns
Intellectual Property Rights, this Agreement is not a grant of license to
Google of any of those rights, nor does anything in this Agreement serve as a
waiver of those rights.

 

23.2    IAC
Rights.  As between Google and the IAC Parties, Google
agrees that it will not claim or acquire, based on this Agreement or provision
of the Services hereunder, any right, title and interest in (i) the
Intellectual Property Rights associated with the Customer Content; and (ii) the
Customer Content, except for the limited use rights expressly set forth in this
Agreement.  Notwithstanding anything to
the contrary in this section, to the extent that Google owns Intellectual
Property Rights, this Agreement is not a grant of license to any IAC Party of
any of those rights except as expressly provided for herein, nor does anything
in this Agreement serve as a waiver of those rights.

 

23.3    Brand
Feature License.  Each party will submit all materials of any
kind containing the other party’s Brand Features to the other party for
approval prior to each distribution. 
Except as set forth in this Section, nothing in this Agreement shall
grant or shall be deemed to grant to one party any right, title or interest in
or to the other party’s Brand Features. 
All use by Google of any IAC or IAC Site Affiliate Brand Features
(including any goodwill associated therewith) shall inure to the benefit of IAC
and/or the IAC Site Affiliates and all use of Google’s Brand Features
(including any goodwill associated therewith) shall inure to the benefit of
Google.  At no time during or after the
Services Term shall one party assert rights in the Brand Features of the other
party (except to the extent this restriction is prohibited by applicable law)
or the registration thereof by the other party, nor shall either party attempt to
register any Brand Features or domain names that are confusingly similar to
those of the other party.

 

23.3.1     License to Google Brand Features.  Subject to the limitations set forth herein,
Google hereby grants IAC a nontransferable, nonexclusive license during the
term to: (a) use Google’s name in securities filings and documents that
are required by law; (b) use Google’s name in press releases (to the
extent permitted under Section 22 (Confidentiality); and (c) include
Google’s Brand Features in presentations and marketing materials; provided that
in each instance described in Sections 23.3.1(b) and 23.3.1(c) of IAC’s
use and/or display of any Google Brand Feature, Google provides its advance
written approval of all such advertising and messaging activities, such
approval not to be unreasonably withheld or delayed.  Unless otherwise permitted in advance by
Google in writing, IAC shall not use or display any Google Brand Features, and
unless otherwise permitted in advance by IAC in writing, Google shall not
include any Google Brand Features in any Result Set or any Ad.  For the avoidance of doubt, no IAC Party
shall use any Google Brand Features in any manner in connection with [***].

 

23.3.2     License to IAC Brand Features.  Except for the right to include IAC, its
Affiliates (which use the Services under this Agreement) and the Sites on a
list of customers who use the Services, this Agreement does not grant Google
any rights to reference or use any IAC Party’s Brand Features.  IAC’s and/or an IAC Site Affiliate’s license
to Google shall be expressly limited to Google specifically referencing IAC
and/or the IAC Site Affiliates as a customer only of the Services and shall not
include any reference that IAC and/or the IAC Site Affiliates utilizes any
other Google product or any reference that is ambiguous enough to cause
confusion as to whether IAC and/or the IAC Site Affiliates uses any other
Google product other than the Services pursuant to this Agreement.

 

24.      Warranties, Disclaimers.

 

24.1    Google
Warranties, Disclaimers.
Google warrants that it has full power and authority to enter into this
Agreement and perform its obligations hereunder.  GOOGLE MAKES NO OTHER WARRANTY OF ANY KIND,
WHETHER EXPRESS, IMPLIED, STATUTORY OR OTHERWISE, INCLUDING WITHOUT LIMITATION
WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR USE, AND
NONINFRINGEMENT.

 

24.2    IAC
Warranties, Disclaimers.  IAC warrants (i) that it has full power
and authority to enter into this Agreement and perform its obligations
hereunder, and (ii) IAC Parties 
shall use information

 

13

 

provided by Google (including,
without limitation, Results Sets) in a manner that complies with applicable
laws.  IAC AND THE IAC SITE AFFILIATES
MAKE NO OTHER WARRANTY OF ANY KIND, WHETHER EXPRESS, IMPLIED, STATUTORY OR
OTHERWISE, INCLUDING WITHOUT LIMITATION WARRANTIES OF MERCHANTABILITY, FITNESS
FOR A PARTICULAR USE, AND NONINFRINGEMENT.

 

25.      Indemnification.

 

25.1    Google
Indemnities.  Google will defend (or at its option
settle), indemnify and hold harmless IAC and its Affiliates (which are
receiving the Services under this Agreement) and their respective officers,
directors, employees and agents from and against any action, loss, cost, claim,
demand, liability or expense, including reasonable attorney’s fees, from a
third party lawsuit or proceeding brought against IAC and/or the IAC Site
Affiliates arising from a claim that: [***] the Services or any Google Brand
Feature infringes any [***] copyright, trade secret or trademark of such third
party (an “IP Claim”); [***].

 

25.2    [***].

 

25.3    IAC
Indemnities.  In addition to IAC’s indemnification
obligations in Exhibit H [***], IAC will defend (or at its option settle), indemnify
and hold harmless Google and its Affiliates and their respective officers,
directors, employees and agents from and against any action, loss, cost, claim,
demand, liability, or expense, including reasonable attorney’s fees, from any
third party lawsuit or proceeding brought against Google arising from: (a) a
claim that the use of the [***] Customer Content, Sites, [***] and/or IAC Party
Brand Features infringe any patent, copyright, trade secret or trademark of
such third party unless such claim is solely caused by IAC’s and/or an IAC
Parties’ use of the Services in accordance with this Agreement; (b) An IAC
Party’s use of the Services in breach of the Agreement or use of the [***]
other than as instructed by Google; and/or (c) an IAC Party’s unauthorized
use of information provided by Google violates applicable data protection laws.

 

25.4    General.  Indemnification shall be provided for any claim
covered under this section and shall be limited to (i) payment by the
indemnifying party (“Indemnitor”) of
all damages and costs finally awarded (including reasonable attorney’s fees)
for such claim, or (ii) settlement costs approved in writing by the
Indemnitor.  The indemnification
obligations set forth in this Agreement shall not apply to the extent
Indemnitor has been prejudiced by the failure of the party seeking
indemnification (“Indemnitee”)
to: (i) promptly notify the Indemnitor of such claim, (ii) provide
the Indemnitor with reasonable information, assistance and cooperation in
defending the lawsuit or proceeding, and (iii) give the Indemnitor full
control and sole authority over the defense and settlement of such claim.  The Indemnitee may join in defense with
counsel of its choice at its own expense. 
Neither party shall agree to any settlement that admits wrongdoing by
the other party or that imposes any non-monetary obligations, or any monetary
obligations not indemnified by the other party, on the other party. The
Indemnitor shall only reimburse the Indemnitee for expenses incurred by the
Indemnitee with the Indemnitor’s prior written approval.

 

25.5    IP
Claims.  [***]

 

25.6
THIS SECTION 25
STATES THE PARTIES’ ENTIRE LIABILITY AND EXCLUSIVE REMEDY WITH RESPECT TO
VIOLATION OF A THIRD PARTY’S INTELLECTUAL PROPERTY RIGHTS [***].

 

26.          Limitation of Liability.

 

26.1  Limitation.

 

26.1.1     SUBJECT
TO SECTION 26.2, NEITHER PARTY WILL BE LIABLE FOR ANY INDIRECT, SPECIAL,
INCIDENTAL, CONSEQUENTIAL, EXEMPLARY OR PUNITIVE DAMAGES, INCLUDING BUT NOT
LIMITED TO DAMAGES FOR LOST DATA OR LOST PROFITS, HOWEVER CAUSED AND UNDER ANY
THEORY OF LIABILITY, INCLUDING BUT NOT LIMITED TO CONTRACT OR TORT (INCLUDING
PRODUCTS LIABILITY, STRICT LIABILITY AND NEGLIGENCE), AND WHETHER OR NOT SUCH
PARTY WAS OR SHOULD HAVE BEEN AWARE OR ADVISED OF THE POSSIBILITY OF SUCH
DAMAGE AND NOTWITHSTANDING THE FAILURE OF ESSENTIAL PURPOSE OF ANY LIMITED
REMEDY STATED HEREIN.

 

26.1.2     SUBJECT
TO SECTION 26.2, IN NO EVENT SHALL EITHER PARTY’S LIABILITY ARISING OUT OF
THIS AGREEMENT EXCEED [***].

 

14

 

26.2    Exclusions
to Limitations.
Unless and then only to the extent expressly stated in this Agreement, nothing
in this Agreement shall exclude or limit, and Sections 26.1.1 and 26.1.2 do not
limit, either party’s liability for:

 

(a) amounts
payable pursuant to Section 25 (Indemnification) provided, however, that
in no event shall (i) Google’s liability for any or all claims arising out
of Google’s indemnification obligations with regard to the [***] exceed
[***] and (ii) Google’s liability for any or all claims arising
out of Google’s indemnification obligations with regard to [***] exceed
[***];

 

(b) amounts
payable pursuant to the indemnification provisions set forth in Exhibit H [***];

 

(c) breaches of Section 23
(Intellectual Property, Brand Feature Licenses);

 

(d) breaches of Section 22
(Confidentiality); and

 

(e) any
material breach (for which prompt notice has been given) by either party with
respect to which the breaching party acts with [***], in each case in breach of
the Agreement.  This Section 26.2(e) shall
only apply for damages that cannot be mitigated despite the non-breaching party’s
commercially reasonable efforts and if the non-breaching party terminates the
Agreement, provided, however, that in no event shall either party’s exposure
under this Section exceed [***] with respect to the [***] immediately
preceding the date on which a claim arising out of the AFS or AFC Services
arises ([***], in which case the relevant measurement period shall be the most
recent [***] prior to such material and negative impact).  The non-breaching party may not seek damages
incurred earlier than [***] prior to filing such claim under this Section.  Any claim arising out of the [***] shall be
not be subject to this Section 26.2(e).

 

(f) any
material breach (for which prompt notice has been given) by either party with
respect to which the breaching party [***]. This Section 26.2(f) shall
only apply for damages that cannot be mitigated despite the non-breaching party’s
commercially reasonable efforts, provided, however, that in no event shall
either party’s exposure under this Section 26.2(f) exceed [***].  The non-breaching party may not seek damages
incurred earlier than [***] prior to filing a claim under this Section.  Any claim, other than claims addressed by subsections
(a), (b), (c) and (d) above, arising out of the [***] shall be
subject to this Section 26.2(f).

 

26.3        No
Addition of Liabilities.  The limitations of liabilities set forth
in the Agreement shall not be additive. 
Each party’s aggregate liability for all claims under the Agreement may
never exceed the liability cap ascribed to those claims, and together may never
exceed the highest applicable liability cap [***].

 

26.4        Allocation
of Risk.  The parties agree that this Section 26
represents a reasonable allocation of risk.

 

27.          Term; Termination Provisions.

 

27.1    Services
Term. The
term of this Agreement shall commence on the Effective Date and shall continue
for the period of the Initial Services
Term stated above, unless earlier terminated as provided in this
Agreement.  Thereafter, this Agreement
may be renewed only upon a definitive written agreement signed by the
parties.  For purposes of this Agreement,
the term of any renewal hereunder is referred to as the “Renewal
Term,” and the Initial Services Term, together with the Renewal
Term, if any, may also be referred to as the “Services
Term” or “Term.”

 

27.2    General
Termination Provisions.  Either party may suspend performance, in
whole or in part, or terminate this Agreement in full with written notice: (i) if
the other party materially breaches the Agreement and fails to cure such breach
within [***] after receiving written notice thereof;  (ii) if the other party becomes
insolvent or makes any assignment for the benefit of creditors or similar
transfer evidencing insolvency, or suffers or permits the commencement of any
form of insolvency or receivership proceeding, or has any petition under
bankruptcy law filed against it, which petition is not dismissed within sixty
(60) days of such filing, or has a trustee, administrator or receiver appointed
for its business or assets or any part thereof; (iii) if the other party
materially breaches the Agreement with respect to Section 23 (Intellectual
Property; Brand Features License) and fails to cure such breach within [***]
after receiving written notice thereof and such failure causes more than de
minimus harm to the non-breaching party; (iv) if the other party
materially breaches the Agreement with respect to Section 22
(Confidentiality); or (v) if the other party is in material breach (and
has received notice thereof) of the Agreement with respect to [***].

 

15

 

27.3    Google
Right to Cease Providing Services to Certain Jurisdictions.  Notwithstanding the foregoing, in addition to
the termination rights granted above in Section 27.2, Google may cease
provision of the Services for use in a particular jurisdiction upon [***]
written notice to IAC if Google reasonably determines that it would be illegal
to continue providing the Services in light of applicable laws of that
jurisdiction.

 

27.4    IAC
Termination Rights.  Notwithstanding the foregoing, in addition
to the termination rights granted above in Section 27.2, IAC may terminate
the Agreement if Google fails to cure any material breach of the [***] set
forth in this Agreement within [***] calendar days after receipt of written
notice from IAC of such breach.

 

27.5    Rights
upon Termination.  Upon the expiration or termination of the
Agreement for any reason: (i) all rights and licenses granted by either
party shall cease immediately; (ii) except as otherwise expressly
permitted in Section [***] and [***], each party shall promptly return to
the other party, or destroy and certify the destruction of, all Confidential
Information of the other party; and (iii) each party’s rights to use any
of the other party’s Brand Features, as permitted under the Agreement, shall
cease immediately.

 

28.      Miscellaneous Provisions.

 

28.1    Compliance
with Laws.  Each party shall comply with all laws, rules and
regulations, if any, applicable to it in connection with the performance of its
obligations under the Agreement.

 

28.2    Notices. 
All notices shall be in English and in writing and (a) if sent to
IAC to the address identified on the Cover Page of this Agreement with a
copy to IAC Legal, or as otherwise provided by IAC for various IAC Site
Affiliates, and (b) if sent to Google to such address as provided at:
www.google.com/corporate/address.html or as otherwise provided in writing for
such notice purposes; provided, however, that all invoices and payments shall
be sent to the attention of Google Finance, all legal notices shall be sent to
the attention of the Google Legal Department, and all other correspondence
shall be sent to the attention of the account manager specified by Google.  Notice shall be deemed given (i) upon
receipt when delivered personally, (ii) upon written verification of
receipt from overnight courier, (iii) upon verification of receipt of
registered or certified mail or (iv) upon verification of receipt via
facsimile, provided that such notice is also sent simultaneously via first
class mail.  Either party may update
addresses for purposes of notices with written notice to the other party.

 

28.3    Assignment.

 

28.3.1     Prohibited Assignment. 
Neither party shall assign or otherwise transfer its rights or
obligations under the Agreement, in whole or in part, without the other party’s
prior written approval and any attempt to do so will be null and void.  For purposes of this section, an assignment
will be deemed to include, without limitation, any transaction in which another
party or parties acquire the direct or indirect power to direct the management
and policies of IAC or Google (“Controlling Interest”),
whether by way of merger, consolidation, change of control, sale of all or
substantially all of IAC’s or Google’s securities or assets, contract,
management agreement or otherwise.  [***]

 

28.3.2     [***]

 

28.3.3     [***]

 

28.4    [***]

 

28.5    Sale
of an Asset.  In the event IAC and/or an IAC Site
Affiliate sells or transfers whether by way of merger, consolidation, change of
control, sale of securities or assets, contract, management agreement or
otherwise [***] any Site, then such website shall no longer constitute a Site
under this Agreement [***].

 

28.6    Management
Committee.  [***]

 

28.7    Governing
Law.  The laws of California, excluding California’s
choice of law rules, and applicable federal U.S. laws shall govern the
Agreement.  Each party agrees to submit
to the personal and exclusive jurisdiction of the courts located in Santa Clara
County, California. The parties specifically exclude from application to the
Agreement the United Nations Convention on Contracts for the International Sale
of 

 

16

 

Goods and the Uniform Computer
Information Transactions Act.  The
parties agree to waive trial by jury. 
For any lawsuit for which there is concurrent jurisdiction in state and
federal court, the parties agree to litigate in federal court, provided that in
no event shall a party be required to split claims from a single lawsuit.

 

28.8    Equitable
Relief.  Either party may seek equitable relief,
including temporary restraining orders or injunctions, in addition to all other
remedies, for breach or threatened breach of an IAC Party’s exclusivity
obligations contained in this Agreement or either party’s obligations contained
in Sections 23 (Intellectual Property; Brand Feature License) or Section 22
(Confidentiality) of this Agreement.

 

28.9    Entire
Agreement.  The parties agree that the Amended and
Restated Advertising Services Agreement between Google and Ask Jeeves, Inc.
dated July 26, 2004 (“Existing Agreement”)
shall remain in effect until December 31, 2007 unless otherwise terminated
as permitted in the Existing Agreement. 
As of January 1, 2008, this Agreement shall supersede any other
prior or collateral agreements, whether oral or written, with respect to the
subject matter hereof and this Agreement (including any exhibits and
attachments thereto), and any terms located at Google URLs referenced pursuant
to the Agreement (which are all incorporated herein by reference), shall
constitute the entire agreement with respect to the subject matter hereof, and
any terms contained in any related purchase order(s) or other documents
pertaining to the subject matter of this Agreement shall be null and void.  In the event of a conflict, inconsistency or
contradiction between a term located at a Google URL incorporated by reference
herein and a term in the body of this Agreement, the term of this Agreement
shall control.  The captions and headings
used in this Agreement are inserted for convenience only and shall not affect
the meaning or interpretation of this Agreement.

 

28.10  Amendments. 
Any amendments or modifications to the Agreement must (i) be in writing;
(ii) refer to the Agreement; and (iii) be executed by an authorized
representative of each party.

 

28.11  [***]

 

28.12  No
Waiver.  The failure to require performance of any
provision shall not affect a party’s right to require performance at any time
thereafter; nor shall waiver of a breach of any provision constitute a waiver
of the provision itself.

 

28.13  Severability. 
If any provision is adjudged by a court of competent jurisdiction to be
unenforceable, invalid or otherwise contrary to law, such provision shall be
interpreted so as to best accomplish its intended objectives and the remaining
provisions shall remain in full force and effect.

 

28.14  Survival. 
The following sections of this Agreement will survive any expiration or
termination of this Agreement:  Sections
18 (Data), 21 (Payment), 22 (Confidentiality; PR), 24 (Warranties;
Disclaimers), 25 (Indemnification) to the extent a claim arises during the
Services Term, 26 (Limitation of Liability) and 28 (Miscellaneous).

 

28.15  Independent
Contractors.  The parties hereto are and shall remain
independent contractors and nothing herein shall be deemed to create any
agency, partnership, or joint venture relationship between the parties.  Neither party shall be deemed to be an
employee or legal representative of the other nor shall either party have any
right or authority to create any obligation on behalf of the other party.

 

28.16  No
Third Party Beneficiaries.  The Agreement is not intended to benefit, nor
shall it be deemed to give rise to, any rights in any third party.

 

28.17  Force
Majeure.  Neither party shall be liable for failing or
delaying performance of its obligations (except for the payment of money)  resulting from any condition beyond its
reasonable control, including but not limited to, governmental action, acts of
terrorism, earthquake, fire, flood or other acts of God, labor conditions,
power failures, and  Internet
disturbances.

 

28.18  IAC
and IAC Site Affiliates.  IAC’s rights and remedies set forth in this
Agreement are cumulative and not duplicative and may be enforced solely by IAC
and not by an IAC Site Affiliate and IAC shall be liable for the performance of the IAC Site Affiliates under this
Agreement.

 

17

 

28.19  Successors;
Counterparts; Drafting; General.  The
Agreement (a) shall be binding on and inure to the benefit of each of the
parties and their respective successors and assigns; (b) may be executed
in counterparts, including facsimile counterparts, each of which will be deemed
an original and all of which when taken together will constitute one and the
same instrument; and (c) shall be construed as if both parties jointly
wrote it.

 

18

 

IN
WITNESS WHEREOF, the parties have executed this Agreement by persons duly
authorized.

 

	
   

  	
  Google:  GOOGLE INC.

  	
   

  	
  Customer:  IAC/InterActiveCorp

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:
  

  	
  /s/
  Omid Kordestani

  	
   

  	
  By:

  	
  /s/
  Greg Blatt

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Print
  Name:  Omid Kordestani

  	
   

  	
  Print
  Name:  Greg Blatt

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Title:
   Senior Vice President Global Sales and

  	
   

  	
   

  
	
  Business Development

  	
   

  	
  Title:
   Executive Vice President, General Counsel

  
	
   

  	
   

  	
   

  
	
   

  	
  Date:
   November 8, 2007

  	
   

  	
  Date:
   November 8, 2007

  

 

19

 

List of Exhibits Attached Hereto:

 

Exhibit A

[***]

 

Exhibit B

[***]

 

Exhibit C

[***]

 

Exhibit D

[***]

 

Exhibit E

[***]

 

Exhibit F

[***]

 

Exhibit G

[***]

 

Exhibit H

[***]

 

Exhibit I

[***]

 

Exhibit J

[***]

 

Exhibit K

[***]

 

Exhibit L

[***]

 

Exhibit M

[***]

 

20

 

Exhibit A

 

[***]

 

21

 

Exhibit B

 

[***]

 

22

 

Exhibit C

 

[***]

 

23

 

Exhibit D

 

[***]

 

24

 

Exhibit E

 

[***]

 

25

 

Exhibit F

 

[***]

 

26

 

Exhibit G

 

[***]

 

27

 

Exhibit H

 

[***]

 

28

 

Exhibit I

 

[***]

 

29

 

Exhibit J

 

[***]

 

30

 

Exhibit K

 

[***]

 

31

 

Exhibit L

 

[***]

 

32

 

Exhibit M

 

[***]

 

33EXHIBIT 10.29

 

SPX CORPORATION

SUPPLEMENTAL INDIVIDUAL ACCOUNT

RETIREMENT PLAN

 

As Amended and
Restated Effective October 21, 2008

 

TABLE OF
CONTENTS

 

	
   

  	
   

  	
  Page

  
	
  ARTICLE I DEFINITIONS

  	
  2

  
	
  1.1

  	
  Account Balance

  	
  2

  
	
  1.2

  	
  Accrued Benefit

  	
  2

  
	
  1.3

  	
  Act

  	
  2

  
	
  1.4

  	
  Actuarial Equivalent

  	
  2

  
	
  1.5

  	
  Affiliated Company or
  Affiliate

  	
  3

  
	
  1.6

  	
  Beneficiary

  	
  3

  
	
  1.7

  	
  Board

  	
  3

  
	
  1.8

  	
  Code

  	
  3

  
	
  1.9

  	
  Committee

  	
  3

  
	
  1.10

  	
  Company

  	
  4

  
	
  1.11

  	
  Excess Participant

  	
  4

  
	
  1.12

  	
  Former Accrued Benefit

  	
  4

  
	
  1.13

  	
  Grandfathered Benefit

  	
  4

  
	
  1.14

  	
  GSX Transition Benefit

  	
  4

  
	
  1.15

  	
  Initial Account Balance

  	
  4

  
	
  1.16

  	
  Interest Accruals

  	
  4

  
	
  1.17

  	
  Interest Accrual Rate

  	
  4

  
	
  1.18

  	
  Normal Retirement Age

  	
  4

  
	
  1.19

  	
  Normal Retirement Date

  	
  5

  
	
  1.20

  	
  Participant

  	
  5

  
	
  1.21

  	
  Plan

  	
  5

  
	
  1.22

  	
  Principal Accruals

  	
  5

  
	
  1.23

  	
  Qualified Plan

  	
  5

  
	
  1.24

  	
  Qualified Plan
  Retirement Benefit

  	
  5

  
	
  1.25

  	
  Qualified Plan
  Preretirement Death Benefit

  	
  6

  
	
  1.26

  	
  Supplemental Plan
  Preretirement Death Benefit

  	
  6

  
	
  1.26A

  	
  Supplemental Retirement
  Benefit

  	
  6

  
	
  1.26B

  	
  Non-409A Supplemental
  Retirement Benefit

  	
  6

  
	
  1.26C

  	
  409A Supplemental
  Retirement Benefit

  	
  6

  
	
  1.27

  	
  Surviving Spouse

  	
  6

  
	
  1.28

  	
  Top Hat Participant

  	
  6

  
	
   

  	
   

  	
   

  
	
  ARTICLE II ELIGIBILITY

  	
  7

  
	
   

  	
   

  	
   

  
	
  ARTICLE III SUPPLEMENTAL
  RETIREMENT BENEFITS

  	
  8

  
	
  3.1

  	
  Amount

  	
  8

  
	
  3.2

  	
  Form of Non-409A
  Supplemental Retirement Benefit

  	
  8

  
	
  3.3

  	
  Commencement of
  Non-409A Supplemental Retirement Benefit

  	
  8

  
	
  3.4

  	
  Approval of Company

  	
  9

  
	
  3.4A

  	
  Form and Timing of
  409A Supplemental Retirement Benefits

  	
  9

  
	
  3.5

  	
  Actuarial Equivalent

  	
  10

  
	
  3.6

  	
  Source of Benefit
  Payments

  	
  10

  
	
   

  	
   

  	
   

  
	
  ARTICLE IV SUPPLEMENTAL PLAN
  PRERETIREMENT DEATH BENEFIT

  	
  11

  

 

i

 

	
  4.1

  	
  Amount

  	
  11

  
	
  4.2

  	
  Form and
  Commencement of Benefit

  	
  11

  
	
   

  	
   

  	
   

  
	
  ARTICLE V ADMINISTRATION OF THE
  PLAN

  	
  12

  
	
  5.1

  	
  Administration by the
  Company

  	
  12

  
	
  5.2

  	
  General Powers of
  Administration

  	
  12

  
	
  5.3

  	
  409A Compliance

  	
  12

  
	
   

  	
   

  	
   

  
	
  ARTICLE VI AMENDMENT OR
  TERMINATION

  	
  13

  
	
  6.1

  	
  Amendment or
  Termination

  	
  13

  
	
  6.2

  	
  Effect of Amendment or
  Termination

  	
  13

  
	
   

  	
   

  	
   

  
	
  ARTICLE VII GENERAL PROVISIONS

  	
  14

  
	
  7.1

  	
  Funding

  	
  14

  
	
  7.2

  	
  General Conditions

  	
  14

  
	
  7.3

  	
  No Guaranty of Benefits

  	
  14

  
	
  7.4

  	
  No Enlargement of
  Employee Rights

  	
  14

  
	
  7.5

  	
  Spendthrift Provision

  	
  14

  
	
  7.6

  	
  Applicable Law

  	
  14

  
	
  7.7

  	
  Small Benefits

  	
  14

  
	
  7.8

  	
  Incapacity of Recipient

  	
  15

  
	
  7.9

  	
  Corporate Successor

  	
  15

  
	
  7.10

  	
  Unclaimed Benefit

  	
  15

  
	
  7.11

  	
  Limitations on
  Liability

  	
  15

  
	
  7.12

  	
  Duties of Participants,
  Beneficiaries, and Surviving Spouses

  	
  15

  
	
  7.13

  	
  Taxes and Withholding

  	
  15

  
	
  7.14

  	
  Treatment for other
  Compensation Purposes

  	
  16

  
	
   

  	
   

  	
   

  
	
  ARTICLE VIII CHANGE-OF-CONTROL

  	
  17

  
	
  8.1

  	
  Definition of
  Change-of-Control

  	
  17

  
	
  8.1A

  	
  Definition of 409A
  Change-of-Control

  	
  18

  
	
  8.2

  	
  Benefit Rights Upon
  Change-of-Control

  	
  19

  
	
  8.3

  	
  Excess Parachute
  Payments by the Company

  	
  20

  
	
   

  	
   

  	
   

  
	
  ARTICLE IX SPECIAL PROVISIONS

  	
  22

  
	
  9.1

  	
  Former Participants in
  the General Signal Corporation Supplemental Retirement Plan

  	
  22

  
	
  9.2

  	
  Certain Former General
  Signal Participants Eligible for Transition Benefits

  	
  22

  

 

ii

 

SPX CORPORATION

SUPPLEMENTAL INDIVIDUAL ACCOUNT RETIREMENT PLAN

 

The SPX Corporation Supplemental Individual Account
Retirement Plan, formerly known as the Excess and Top Hat Benefit Plan No. 3
(the “Plan”) was adopted effective January 1, 1984, amended from time to
time thereafter and is now amended and restated, effective as of October 21,
2008.  The Plan is established and
maintained by SPX Corporation for the purpose of providing benefits in excess
of the limitations on benefits imposed by Sections 401(a)(17) and 415 of
the Internal Revenue Code for certain of its employees who participate in the
SPX Corporation Individual Account Retirement Plan.

 

The provisions of this Plan are only applicable to
Participants in the employ of SPX Corporation on or after the effective date of
such provisions. Participants who terminated prior to that date (or the
Surviving Spouses or Beneficiaries of such Participants) shall be eligible for
benefits, if any, under the terms of the Plan then in effect, or as
subsequently amended such that the amended terms apply to such persons.

 

1

 

ARTICLE I

DEFINITIONS

 

Whenever used herein the following terms shall have
the meanings hereinafter set forth. 
Words in the masculine gender shall include the feminine and the
singular shall include the plural, and vice versa, unless qualified by the
context.  Any headings used herein are
included for ease of reference only, and are not to be construed so as to alter
the terms hereof.

 

1.1                                 “Account Balance” means the value of
a Participant’s benefit payable under this Plan on or after July 1, 1997,
expressed as a lump sum.  A Participant’s
Account Balance at any time shall be the sum of the following:

 

(i)                                     Initial
Account Balance (if any);

 

(ii)                                  Principal
Accruals; and

 

(iii)                               Interest
Accruals.

 

1.2                                 “Accrued Benefit” has the following
meaning with respect to the methods of determining a benefit under this Plan as
may apply to a specific Participant:

 

(1)                                  Account Balance.  An Accrued Benefit based on a Participant’s
Account Balance means the Participant’s Account Balance at any time, and the
immediate single life annuity which is the Actuarial Equivalent of the
Participant’s Account Balance at such time. 
For any Participant who terminates employment before he attains his
Normal Retirement Age, and who elects to leave his Account Balance in the Plan,
Accrued Benefit means that Participant’s Account Balance at the time of
termination of employment plus Interest Accruals to the date of distribution,
and the immediate single life annuity which is the Actuarial Equivalent of the
Participant’s Account Balance at such time.

 

(2)                                  Grandfathered Benefit.  An Accrued Benefit based on a Participant’s
Grandfathered Benefit, described in Section 1.13.

 

A
Participant’s Accrued Benefit shall be payable only in those optional forms of
benefit which pertain (as provided under the Qualified Plan) to the Account
Balance or Grandfathered Benefit (whichever is applicable).

 

1.3                                 “Act” means the Employee Retirement
Income Security Act of 1974, as amended from time to time, and any regulations
relating thereto.

 

1.4                                 “Actuarial Equivalent” means a
benefit having the same value as the benefit it replaces, as defined in this
subsection.  Actuarial equivalency shall
be determined on the basis of the following assumptions:

 

(1)                                  For
purposes of (i) converting an Account Balance to a single life annuity, or
(ii) converting a single life annuity to a lump sum, or (iii) converting
a lump sum (other than an Account Balance) to a single life annuity, the
applicable actuarial assumptions set forth under Section 2.1(c)(1) of
the Qualified Plan shall be utilized.

 

2

 

(2)                                  For
purposes of converting a single life annuity (i) into a joint and 50%
survivor annuity, or (ii) into any optional form of benefit (excluding
lump sums), the actuarial factors set forth in Appendix A of the Qualified
Plan (as amended, if applicable) shall be applied.

 

(3)                                  For
all other purposes under the Plan, mortality shall be based upon the mortality
assumptions set forth in the mortality table commonly described as “UP-1984,”
as published, and the assumed interest rate shall be 5% per year.

 

1.5                                 “Affiliated Company” or “Affiliate” means
any corporation, trade or business entity which is a member of a controlled
group of corporations, trades or businesses, or an affiliated service group, of
which the Company is also a member, as provided in Code Sections 414(b),
(c), (m) or (o).

 

1.6                                 “Beneficiary” means a Participant’s
beneficiary under the Qualified Plan with respect to a Participant’s Non-409A
Supplemental Retirement Benefit (or, if applicable, the Supplemental Plan
Preretirement Death Benefit payable under the first paragraph of Section 4.2).

 

With
respect to a Participant’s 409A Supplemental Retirement Benefit (or, if
applicable, the Supplemental Plan Preretirement Death Benefit payable under the
second paragraph of Section 4.2), “Beneficiary” means any person or persons
designated by a Participant to receive such benefits payable in the event of
the Participant’s death before benefits under the Plan begin, or to receive the
survivor benefits under any joint and survivor benefit option or period certain
benefit option after benefits under the Plan begin.  A married Participant may elect at any time
to designate a non-spouse Beneficiary or to revoke any such election at any
time.  An election by a Participant to
designate a non-spouse Beneficiary shall not take effect unless the Participant’s
spouse consents in writing to such election, such consent acknowledges the
effect of such an election and the consent is witnessed by a representative of
the Plan or a notary public, unless the Participant establishes to the satisfaction
of the Committee that such consent may not be obtained because there is no
spouse, the spouse cannot be located or due to other circumstances.  The consent by a spouse shall be irrevocable
and shall be effective only with respect to that spouse.  Any separate designation of a Beneficiary
under this Plan shall not be effective for any purpose unless and until it has
been filed by the Participant with the Committee on a form approved by the
Committee.  A Participant may, from time
to time, on a form approved by and filed with the Committee, change the
Beneficiary, provided that once benefit payments have commenced to be paid to a
Participant, his designation of a Beneficiary may only be changed for the
period certain option.  If payments under
a period certain benefit option have commenced to a Participant’s designated
Beneficiary and the Beneficiary dies before all payments under such form of
payment have been made, any remaining payments shall be made to the Beneficiary’s
estate.

 

1.7                                 “Board” means the Board of Directors
of the Company.

 

1.8                                 “Code” means the Internal Revenue
Code of 1986, as amended from time to time, and any regulations relating
thereto.

 

1.9                                 “Committee” means the Compensation
Committee of the Board.

 

3

 

1.10                           “Company” means SPX Corporation, a
Delaware corporation, or, to the extent provided in Section 7.9 below, any
successor corporation or other entity resulting from a reorganization, merger
or consolidation into or with the Company, or a transfer or sale of
substantially all of the assets of the Company.

 

1.11                           “Excess Participant” means a
Qualified Plan participant whose benefit is limited by reason of the
application of Code Section 415, as in effect on the date that Qualified
Plan Retirement Benefits commence.

 

1.12                           “Former Accrued Benefit” means (1) a
Participant’s accrued Normal Retirement Benefit as of June 30, 1997 under
the Qualified Plan payable in the form of a single life annuity at the
Participant’s Normal Retirement Age (or, if later, payable on June 30,
1997), based on the terms of this Plan as in effect on June 30, 1997, or (2) the
accrued Normal Retirement Benefit as of the date that benefits under a Prior
Plan were converted to Account Balances under this Plan.

 

1.13                           “Grandfathered Benefit” means the
alternative benefit formula under the Qualified Plan applicable to Participants
who had a combination of age and service of at least 50 with at least
10 years of service under the Qualified Plan on June 30, 1997, which
may be elected instead of such a Participants’ Account Balance under the
Qualified Plan.

 

1.14                           “GSX Transition Benefit” means the
special transition benefit payable with respect to the Qualified Plan account
balance of certain Participants who were formerly covered by the General Signal
Corporation Benefits Plan as referenced in Section 9.2.

 

1.15                           “Initial Account Balance” means the
Actuarial Equivalent of a Participant’s Former Accrued Benefit, expressed as a
lump sum on July 1, 1997 with respect to employees who were participants
in the Qualified Plan on that date or the date on which a Participant’s benefit
under any other Prior Plan which is now part of the Qualified Plan was
converted to an Actuarial Equivalent Account Balance.  A Participant’s Initial Account Balance
(determined as if the Plan terminated on July 1, 1997, or on the
applicable Prior Plan conversion date) shall be no less than the Actuarial
Equivalent of the Participant’s Accrued Benefit under this Plan or a Prior Plan
determined as if this Plan or a Prior Plan had terminated on the conversion
date.

 

1.16                           “Interest Accruals” means the
additions to a Participant’s Account Balance determined with the Interest
Accrual Rate below and in accordance with the methodology utilized under the
Qualified Plan for the Interest Credits thereunder.

 

1.17                           “Interest Accrual Rate” means the
rate of interest (determined once each Plan Year) at which a Participant’s
Account Balance is deemed to grow.  For
any Plan Year, the Interest Accrual Rate shall be the interest rate paid on
five-year United States Treasury Notes (Constant Maturities) in effect as of
the last business day of November of the immediately preceding Plan Year.

 

1.18                           “Normal Retirement Age” means the
earlier of (a) the date a Participant has attained his Social Security
Unreduced Retirement Age (as defined under the Qualified Plan), or (b) the
date when he has both attained his 65th birthday and completed five years of
Continuous Service under the Qualified Plan.

 

4

 

1.19                           “Normal Retirement Date” means the
first day of the month coinciding with or next following the date on which a
Participant terminates employment with the Company because of his normal
retirement under the Qualified Plan on or after attainment of his Normal
Retirement Age.

 

1.20                           “Participant” means an employee of
the Company or of an Affiliated Company who is a participant under the
Qualified Plan (or any successor or replacement to the Qualified Plan) and to
whom or with respect to whom a benefit is payable under this Plan.  When used in the Plan, Participants are
either “Excess Participants” or “Top Hat Participants.”  The term “Participant” shall refer only to
Top Hat Participants unless otherwise specified.  Notwithstanding the foregoing, the term
Participant shall not include any participant in the Qualified Plan, whose
participation in the Qualified Plan is a result of a plan merger or transfer of
assets and liabilities effected on or after January 1, 2001.

 

1.21                           “Plan” means the SPX Corporation
Supplemental Individual Account Retirement Plan.

 

1.22                           “Principal Accruals” mean the
additions made to a Participant’s Account Balance equivalent to those which
would have been made under the Qualified Plan, absent the limits on
compensation imposed by Code Section 401(a)(17), or any successor section
of the Code, and provided that any deferrals of compensation made pursuant to
the SPX Corporation Supplemental Retirement Savings Plan shall be includable in
the determination of such compensation. 
Any qualified plan supplemental accruals shall reduce the amount of
Principal Accruals under this Plan.

 

1.23                           “Qualified Plan” means the SPX
Corporation Individual Account Retirement Plan (formerly known as Pension Plan No. 3)
and each predecessor, successor or replacement to the said Qualified Plan, and
any plan which has been merged into the Qualified Plan (a “Prior Plan”) where
Prior Plan Accrued Benefits have been converted to an Initial Account Balance.

 

1.24                           “Qualified Plan Retirement Benefit” means
the aggregate benefit payable to a Participant pursuant to the Qualified Plan
(including any portion to be paid to an alternate payee pursuant to a qualified
domestic relations order) by reason of his termination of employment with the
Company and all Affiliates for any reason other than death.  Where the Qualified Plan provides for an
offset to a Participant’s benefit under the Qualified Plan to reflect payment
to a Participant of additional defined benefit pension payments (within the
meaning of Code Section 414(j)) under other defined benefit pension plans
of the Company or an Affiliated Company, the Participant’s Qualified Plan
Retirement Benefit shall be the total value of all such defined benefit
pensions.

 

1.25                           “Qualified Plan Preretirement Death Benefit” means
the aggregate benefit payment to the Surviving Spouse or Beneficiary of a
Participant with respect to the Participant’s Qualified Plan Retirement Benefit
in the event of the death of the Participant at any time prior to commencement
of payment of his Qualified Plan Retirement Benefit.

 

1.26                           “Supplemental Plan Preretirement Death Benefit” means
the benefit payable to a Surviving Spouse or Beneficiary pursuant to the Plan
by reason of the death of the Participant at any time prior to commencement of
payment of his Qualified Plan Retirement Benefit.

 

5

 

1.26A                 “Supplemental
Retirement Benefit” means either a Supplemental Excess Retirement
Benefit or a Supplemental Top Hat Retirement Benefit, as determined under the
following Articles.

 

1.26B                   “Non-409A Supplemental Retirement
Benefit” refers to the Supplemental Retirement Benefit that is
determined under Code Section 409A to be (i) attributable to amounts
deferred in taxable years beginning before January 1, 2005, and (ii) not
subject to Code Section 409A.

 

1.26C                   “409A
Supplemental Retirement Benefit” refers to the Supplemental Retirement
Benefit that is determined under Code Section 409A to be (i) attributable
to amounts deferred in taxable years beginning on or after January 1,
2005, or (ii) attributable to amounts deferred in taxable years beginning
before January 1, 2005 that are subject to Code Section 409A.

 

1.27                           “Surviving Spouse” means a person
who is legally married to a Participant at the date of his death.

 

1.28                           “Top Hat Participant” means a
Participant who both (i) participates in the Qualified Plan and (ii) whose
benefits under the Qualified Plan are limited by the compensation limits of
Code Section 401(a)(17).

 

6

 

ARTICLE II

ELIGIBILITY

 

A Participant who is eligible to receive a Qualified
Plan Retirement Benefit, the amount of which is reduced:

 

(1)                                  in
the case of an Excess Participant, by reason of the application of the
limitations on benefits imposed by Code Section 415, or

 

(2)                                  in
the case of a Top Hat Participant, by reason of the application of the
limitations on benefits imposed by Code Section 401(a)(17),

 

shall
be eligible to receive a Supplemental Retirement Benefit.  A person shall be considered a Participant in
the Plan in the first year such person accrues a benefit under this Plan.  The Supplemental Retirement Benefit shall
either be a Supplemental Excess Retirement Benefit or a Supplemental Top Hat
Retirement Benefit, whichever is greater. 
If a Participant dies prior to commencement of payment of his Qualified
Plan Retirement Benefit, his Surviving Spouse or Beneficiary may be eligible to
receive a Supplemental Plan Preretirement Death Benefit as provided in Article IV.

 

Individuals
not initially treated and classified by their employer as common-law employees
on the payroll records of their employer, including, but not limited to, leased
employees, independent contractors or any other contract employees, shall be
excluded from participation irrespective of whether a court, administrative
agency or other entity determines that such individuals are common law
employees.

 

7

 

ARTICLE III

SUPPLEMENTAL RETIREMENT BENEFITS

 

3.1                                 Amount.

 

(a)                                  The Supplemental
Excess Retirement Benefit payable to an eligible Excess Participant shall be an
amount equal to the difference between (i) and (ii) below:

 

(i)                                     the
amount of the Qualified Plan Retirement Benefit to which the Participant would
have been entitled if such benefit were computed without giving effect to the
limitations on benefits imposed by application of Code Section 415,

 

L E S S

 

(ii)                                  the
amount of the Qualified Plan Retirement Benefit actually payable to the
Participant.

 

The
amounts described above shall be computed in the form of an Account Balance
commencing on the date payment is made or begins.

 

(b)                                 The Supplemental Top
Hat Retirement Benefit shall be a Top Hat Participant’s Account Balance under
this Plan.

 

(c)                                  Notwithstanding the
provisions of 3.1(b) above, a Participant eligible for a Grandfathered
Benefit under the Qualified Plan who elects to receive such benefit shall
receive a Supplemental Top Hat Retirement Benefit in an amount equal to the
difference between (i) and (ii) below:

 

(i)                                     the
amount of the Qualified Plan Retirement Benefit (using the Grandfathered
Benefit formula) to which the Participant would have been entitled if such
benefit were computed without giving effect to the limitations of Code
Sections 401(a)(17) and 415,

 

L E S S

 

(ii)                                  the
amount of the Qualified Plan Retirement Benefit actually payable to the
Participant.

 

The
amounts described in (c)(i) and (ii) above shall be computed in the
form of a straight life annuity payable over the lifetime of the Participant
only commencing on his actual Normal Retirement Date or Early Retirement Date
under the Qualified Plan.

 

3.2                                 Form of Non-409A Supplemental Retirement
Benefit.  The Non-409A
Supplemental Retirement Benefit (regardless if stemming from a Supplemental
Excess Retirement Benefit or Supplemental Top Hat Retirement Benefit) payable
to a Participant shall be paid in the same form under which the Qualified Plan
Retirement Benefit is payable to the Participant.  The Participant’s election under the
Qualified Plan of any optional form of payment of his Qualified Plan Retirement
Benefit (with the valid consent of his Surviving Spouse where required under
the Qualified Plan) shall also be applicable to the payment of his Non-409A
Supplemental Retirement Benefit, regardless if stemming from a Supplemental
Excess Retirement Benefit or a Supplemental Top Hat Retirement Benefit.

 

3.3                                 Commencement of Non-409A Supplemental Retirement
Benefit.  Payment of the
Non-409A Supplemental Retirement Benefit to a Participant shall commence on the
same date that payment of the Qualified Plan Retirement Benefit to the
Participant commences.  Any election
under the Qualified Plan made by the Participant with respect to the
commencement of payment of his Qualified Plan 

 

8

 

Retirement Benefit shall
also be applicable with respect to the commencement of payment of his Non-409A
Supplemental Retirement Benefit.

 

3.4                                 Approval of Company.  Notwithstanding the provisions of Sections
3.2 and 3.3 above, an election made by the Participant under the Qualified Plan
with respect to the form of payment or date for commencement of payment of his
Qualified Plan Retirement Benefit (with the valid consent of his Surviving
Spouse where required under the Qualified Plan) shall not be effective with
respect to the form of payment or date for commencement of payment of his
Non-409A Supplemental Retirement Benefit hereunder unless such election is
filed in writing with the Committee with respect to his Non-409A Supplemental
Retirement Benefit.  If the Committee
does not object to such election within 15 days, then the form of payment
or date for commencement of payment of the Participant’s Non-409A Supplemental
Retirement Benefit shall be deemed to have been accepted by the Committee.  The requirements of this Section 3.4
shall not apply in the event of a Change-of-Control, as defined in Article VIII.

 

3.4A                       Form and
Timing of 409A Supplemental Retirement Benefits.

 

(a)                                  Initial
Eligibility and Payment Elections.  For any person who shall newly
become a Participant pursuant to Article II, such person may elect to have
his 409A Supplemental Retirement
Benefit payable in any optional form in which the Qualified Plan
Retirement Benefit is payable to the Participant (including a lump sum payment).  Such person must make a separate optional
form election for the 409A
Supplemental Retirement Benefit under this Plan, which need not be the
same as the Participant’s election under the Qualified Plan.  Such person must also elect when the 409A
Supplemental Retirement Benefit will commence, which commencement date may be
no sooner than the date when the Participant has terminated employment.  Such payment election must be made no later
than thirty (30) days (or such earlier time as the Committee may designate)
after the January 1st of the year following the year a person becomes a
Participant in the Plan, and shall be irrevocable for the duration of a
Participant’s participation in the Plan except as set forth in the remainder of
this Section 3.4A.

 

(b)                                 Transition Period.  For the transition period beginning January 1,
2008 and ending December 31, 2008, any Participant may elect to have his 409A Supplemental Retirement Benefit payable
in any optional form in which the Qualified Plan Retirement Benefit is payable
to the Participant (including a lump sum payment), and may elect when the 409A Supplemental Retirement Benefit will
commence, which commencement date may be no sooner than the date when the
Participant has terminated employment. 
Such payment election shall be made in accordance with Code Section 409A
(and applicable Internal Revenue Service transition relief) and subject to the
following provisions.  As of December 31,
2008, any then effective transition payment election shall be irrevocable for the
duration of a Participant’s participation in the Plan except as set forth in
paragraph (d) below.  No payment
election made in 2008 under this transition relief will apply to 409A Supplemental Retirement Benefits that
would otherwise be payable in 2008, nor may such election cause 409A Supplemental Retirement Benefits to
be paid in 2008 that would not otherwise be payable in 2008.  No payment election under this transition
relief may be made retroactively, or when 409A Supplemental Retirement Benefit payments are imminent.

 

(c)                                  Timely Election
Failure.  Failure to make a timely
payment election as provided above will result in such person deeming to elect
the following with respect to the 409A
Supplemental Retirement Benefit: (i) benefit commencement date that
is six months after termination of employment and (ii) benefit payment
form that is a lump sum payment.  Such
deemed election shall be irrevocable for the duration of a Participant’s
participation in the Plan except as set forth in paragraph (d) below.

 

(d)                                 Subsequent Change
in Election.  A Participant may
change the payment election with respect to the 409A Supplemental Retirement Benefit so long as: (i) the
new payment election is made at least twelve (12) months before the original
payment commencement date, (ii) the new payment election does not take
effect until at least twelve (12) months after the date on which such election
is made, and (iii) the original payment commencement date is deferred for
a period of not less than five (5) years. 
Notwithstanding the foregoing, to the extent that a Participant’s
payment form election with respect to the 409A Supplemental Retirement Benefit is a “life 

 

9

 

annuity” (as defined
under Code Section 409A), the Participant may change such election to
another optional form in which the Qualified Plan Retirement Benefit is payable
to the Participant provided that:

 

	
  (1)

  	
  such optional form is also a “life annuity”
  (as defined under Code Section 409A) which is actuarially equivalent (as
  determined under Code Section 409A);

  
	
   

  	
   

  
	
  (2)

  	
  such election to change is timely made
  before the first scheduled annuity payment date of the original election; and

  
	
   

  	
   

  
	
  (3)

  	
  such first scheduled annuity payment date
  does not change as a result of the new election.

  

 

(e)                                  Form.  The elections with respect to the 409A Supplemental Retirement Benefit (including
the change in payment election provisions under paragraph (d) above)
provided shall be made on a form approved by the Committee and filed with the
Committee in the time and manner prescribed by the Committee.

 

(f)                                    Six Month Delay
Rule.  If, at the time the
Participant becomes entitled to 409A
Supplemental Retirement Benefit payments under the Plan, the Participant
is a Specified Employee (as defined and determined under Code Section 409A),
then, notwithstanding any other provision in the Plan to the contrary, the
following provision shall apply.  No 409A Supplemental Retirement Benefit payments
considered deferred compensation under Code Section 409A, which is
determined to be payable upon a Participant’s termination as determined under
Code Section 409A and not subject to an exception or exemption thereunder,
shall be paid to the Participant until the date that is six (6) months
after the Participant’s termination.  Any
such 409A Supplemental Retirement
Benefit payments that would otherwise have been paid to the Participant
during this six-month period shall instead be aggregated and paid to the
Participant on the date that is six (6) months after the Participant’s
termination.  Any 409A Supplemental Retirement Benefit payments to which the
Participant is entitled to be paid after the date that is six (6) months
after the Participant’s termination shall be paid to the Participant in
accordance with the applicable terms of this Plan.

 

(g)                                 Payments.  Notwithstanding anything in the foregoing, a 409A Supplemental Retirement Benefit payment
shall be paid (or commence to be paid) on or as soon as practicable after the
date determined pursuant to the above but not later than 30 days after such
date.

 

3.5                                 Actuarial Equivalent.  A Supplemental Retirement Benefit (whether a
Supplemental Excess Retirement Benefit or Supplemental Top Hat Retirement
Benefit, or whether a Non-409A Supplemental Retirement Benefit or 409A
Supplemental Retirement Benefit) which is payable in any form other than the
lump sum payment of an Account Balance (or a straight life annuity over the
lifetime of a Participant who has chosen to receive the Grandfathered Benefit
in lieu of the Participant’s Account Balance under the Qualified Plan), or
which commences at any time prior to the Participant’s Normal Retirement Date,
shall be the Actuarial Equivalent of the Supplemental Retirement Benefit set
forth in Section 3.1.

 

3.6                                 Source of Benefit Payments.  Any Supplemental Retirement Benefit or
Supplemental Plan Preretirement Death Benefit payable to a Participant, a
Surviving Spouse, or a Beneficiary shall be paid from the general assets of the
Company.

 

10

 

ARTICLE IV

SUPPLEMENTAL PLAN PRERETIREMENT DEATH BENEFIT

 

4.1                                 Amount.

 

(a)                                  If
a Participant dies prior to commencement of payment of his Qualified Plan
Retirement Benefit under circumstances in which a Qualified Plan Preretirement
Death Benefit is payable to his Surviving Spouse or a non-spouse Beneficiary,
then a Supplemental Plan Preretirement Death Benefit is payable as hereinafter
provided.  The Supplemental Plan
Preretirement Death Benefit payable to a Surviving Spouse or Beneficiary shall
be an amount equal to the difference between (a) and (b) below:

 

(i)                                     The amount of the
Qualified Plan Preretirement Death Benefit to which a Surviving Spouse or
Beneficiary would have been entitled if such benefit were computed without
giving effect to the limitations on benefits imposed by application of Code Section 415
(and in the case of the Surviving Spouse or Beneficiary of a Top Hat
Participant, Code Section 401(a)(17));

 

L E S S

 

(ii)                                  the Qualified Plan
Preretirement Death Benefit actually payable to a Surviving Spouse or
Beneficiary.

 

4.2                                 Form and Commencement of Benefit.  With respect to a Supplemental
Plan Preretirement Death Benefit payable to a Surviving Spouse or a Beneficiary
that is determined under Code Section 409A to be (i) attributable to
amounts deferred in taxable years beginning before January 1, 2005, and (ii) not
subject to Code Section 409A, the form and commencement date shall be the
same as the form and commencement date of the Qualified Plan Preretirement
Death Benefit.

 

With
respect to a Supplemental Plan Preretirement Death Benefit payable to a
Surviving Spouse or a Beneficiary that is determined under Code Section 409A
to be (i) attributable to amounts deferred in taxable years beginning on
or after January 1, 2005, or (ii) attributable to amounts deferred in
taxable years beginning before January 1, 2005 that are subject to Code Section 409A,
such amount shall be payable as a lump sum payment on or as soon as
administratively practicable on the first day of the month following the
Participant’s death, but not later than 60 days after such date.  Notwithstanding the foregoing, to the extent
that a Participant commenced (or received) his 409A Supplemental Retirement Benefit under the Plan, no amount shall be
payable to a Surviving Spouse or a Beneficiary pursuant to the terms of this
paragraph.

 

11

 

ARTICLE V

ADMINISTRATION OF THE PLAN

 

5.1                                 Administration by the Company.  The Company, acting under the supervision of
the Committee, shall be responsible for the general operation and
administration of the Plan and for carrying out the provisions thereof.

 

5.2                                 General Powers of Administration.  All provisions set forth in the Qualified
Plan with respect to the administrative powers and duties of the Company,
expenses of administration, and procedures for filing claims shall also be
applicable with respect to the Plan.  The
Company shall be entitled to rely conclusively upon all tables, valuations,
certificates, opinions and reports furnished by any actuary, accountant,
controller, counsel or other person employed or engaged by the Company with
respect to the Plan.

 

5.3                                 409A Compliance.  To the extent any provision of the Plan or
action by the Committee or Company would subject any Participant to liability
for interest or additional taxes under Code Section 409A, or make Non-409A
Supplemental Retirement Benefits subject to Code Section 409A, it will be
deemed null and void, to the extent permitted by law and deemed advisable by
the Committee.  It is intended that the
Plan will comply with Code Section 409A, and that the Non-409A
Supplemental Retirement Benefits be exempt from Code Section 409A
coverage, and the Plan shall be interpreted and construed on a basis consistent
with such intent.  The Plan may be
amended in any respect deemed necessary (including retroactively) by the
Committee in order to preserve compliance with Code Section 409A and to
maintain Code Section 409A exemption for the Non-409A Supplemental
Retirement Benefits.  For purposes of this
Plan with respect to 409A Supplemental Retirement Benefits, a “termination of
employment”, “termination”, “retirement” or “separation from service” (or other
similar term having a similar import) under this Plan shall have the same
meaning as a “separation from service” as defined in Code Section 409A.  The preceding shall not be construed as a
guarantee of any particular tax effect for Plan benefits.

 

12

 

ARTICLE VI

AMENDMENT OR TERMINATION

 

6.1                                 Amendment or Termination.  The Company intends the Plan to be permanent
but reserves the right, subject to Article VIII, to amend or terminate the
Plan when, in the sole opinion of the Company, such amendment or termination is
advisable.  Any such amendment or termination
shall be made pursuant to a resolution of the Committee and shall be effective
as of the date of such resolution or as specified therein.

 

6.2                                 Effect of Amendment or Termination.  No amendment or termination of the Plan shall
deprive, directly or indirectly, any current or former Participant, Surviving
Spouse, or non-spouse Beneficiary of all or any portion of any Supplemental
Retirement Benefit or Supplemental Plan Preretirement Death Benefit, the
payment of which has commenced prior to the effective date of such amendment or
termination or which would be payable if the Participant’s employment
terminated for any reason, including death, on such effective date.

 

13

 

ARTICLE VII

GENERAL PROVISIONS

 

7.1                                 Funding.  The Plan at all times shall be entirely
unfunded and the Company shall not be required at any time to segregate any
assets of the Company for payment of any benefits hereunder.  No Participant, Surviving Spouse,
Beneficiary, or any other person shall have any interest in any particular
assets of the Company by reason of the right to receive a benefit under the
Plan and any such Participant, Surviving Spouse, Beneficiary, or other person
shall have only the rights of a general unsecured creditor of the Company with
respect to any rights under the Plan.

 

7.2                                 General Conditions.  Any Qualified Plan Retirement Benefit or
Qualified Plan Preretirement Death Benefit, or any other benefit payable under
the Qualified Plan, shall be paid solely in accordance with the terms and
conditions of the Qualified Plan, and nothing in this Plan shall operate or be
construed in any way to modify, amend or affect the terms and provisions of the
Qualified Plan.

 

7.3                                 No Guaranty of Benefits.  Nothing contained in the Plan (or any Plan
communication) shall constitute a guaranty by the Company or any other entity
or person that the assets of the Company will be sufficient to pay any benefit
hereunder.

 

7.4                                 No Enlargement of Employee Rights.  No Participant, Surviving Spouse, or Beneficiary
shall have any right to a benefit under the Plan except in accordance with the
terms of the Plan.  Establishment of the
Plan shall not be construed to give any Participant the right to be retained in
the service of the Company, nor to create or confer on any Participant the
right to receive future benefit accruals hereunder with respect to any future
period of service with the Company. 
Nothing in the Plan shall interfere in any way with the right of the Company
to terminate a Participant’s service at any time with or without cause or
notice, whether or not such termination results in any adverse effect on the
Participant’s interests under the Plan.

 

7.5                                 Spendthrift Provision.  No interest of any person or entity in, or
right to receive a benefit under, the Plan shall be subject in any manner to
sale, transfer, assignment, pledge, attachment, garnishment, or other
alienation or encumbrance of any kind; nor may such interest or right to
receive a benefit be taken, either voluntarily or involuntarily, for the
satisfaction of the debts of, or other obligations or claims against, such
person or entity, including claims for alimony, support, separate maintenance
and claims in bankruptcy proceedings.

 

7.6                                 Applicable Law.  The Plan (including, without limitation, any
rules, regulations, determinations or decisions made by the Compensation
Committee or Company relating to the Plan) shall be construed and administered
exclusively in accordance with applicable federal laws and the laws of the
State of Delaware, without regard to its conflict of laws principles.

 

7.7                                 Small Benefits.  If the actuarial value of any Supplemental
Retirement Benefit or Supplemental Plan Preretirement Death Benefit is less
than $25,000 at a Participant’s termination of employment or death, the Company
will pay the actuarial value of such benefit to the Participant, Surviving
Spouse, or Beneficiary in a single lump sum in lieu of any further benefit
payments hereunder.  Subject to any
six-month delay in payment (or portion of payment) required by Code Section 409A,
such payment (or applicable portion) shall be made on or as soon as 

 

14

 

administratively
practicable after the Participant’s termination of employment or death (or the
date required by Code Section 409A’s six-month delay rule), but not later
than 60 days after such date.

 

7.8                                 Incapacity of Recipient.  If any person entitled to a benefit payment
under the Plan is deemed by the Company to be incapable of personally receiving
and giving a valid receipt for such payment, then, unless and until claim
therefor shall have been made by a duly appointed guardian or other legal
representative of such person, the Company may provide for such payment or any
part thereof to be made to any other person or institution then contributing
toward or providing for the care and maintenance of such person.  Any such payment shall be a payment for the
account of such person and a complete discharge of any liability of the Company
and the Plan therefor.

 

7.9                                 Corporate Successor.  The Plan shall not be automatically
terminated by a transfer or sale of assets of the Company or by the
reorganization, merger or consolidation of the Company into or with any other
corporation or other entity, but the Plan shall be continued after such
transfer, sale, reorganization, merger or consolidation only if and to the
extent that the transferee, purchaser or successor entity agrees to continue
the Plan, except as set forth in Article VIII.  In the event that the Plan is not continued
by the transferee, purchaser or successor entity, then the Plan shall terminate
subject to the provisions of Section 6.2.

 

7.10                           Unclaimed Benefit.  Each Participant shall keep the Company
informed of his current address and the current address of his spouse and/or
Beneficiary.  The Company shall not be
obligated to search for the whereabouts of any person.  If the location of a Participant is not made
known to the Company within three (3) years after the date on which
payment of the Participant’s Supplemental Retirement Benefit may first be made,
payment may be made as though the Participant had died at the end of the
three-year period.  If, within one
additional year after such three-year period has elapsed, or, within three
years after the actual death of a Participant, the Company is unable to locate
any Surviving Spouse or Beneficiary for the Participant, then the Company shall
have no further obligation to pay any benefit hereunder to such Participant,
Surviving Spouse, Beneficiary or any other person and such benefit shall be
irrevocably forfeited.

 

7.11                           Limitations on Liability.  Notwithstanding any of the preceding
provisions of the Plan, neither the Company nor any individual acting as an
employee or agent of the Company shall be liable to any Participant, former
Participant, Surviving Spouse, Beneficiary, or any other person for any claim,
loss, liability or expense incurred in connection with the Plan.

 

7.12                           Duties of Participants, Beneficiaries, and
Surviving Spouses.  A
Participant, Surviving Spouse or Beneficiary shall, as a condition of receiving
benefits under this Plan, be obligated to provide the Committee with such
information as the Committee shall require in order to calculate benefits under
this Plan or otherwise administer the Plan.

 

7.13                           Taxes and Withholding.  As a condition to any payment or distribution
pursuant to the Plan, the Company may require a Participant (or as applicable,
the Surviving Spouse or Beneficiary) to pay such sum to the Company as may be
necessary to discharge its obligations with respect to any taxes, assessments
or other governmental charges imposed on property or income received by the
Participant (or as applicable, the Surviving Spouse or Beneficiary)
thereunder.  The Company may deduct or
withhold such sum from any payment or distribution to the Participant (or as
applicable, the Surviving Spouse or Beneficiary).

 

15

 

7.14                           Treatment for other Compensation Purposes.  Payments received by a Participant (or as
applicable, the Surviving Spouse or Beneficiary) under the Plan shall not be
deemed part of a Participant’s regular, recurring compensation for purposes of
any termination, indemnity or severance pay laws and shall not be included in,
nor have any effect on, the determination of benefits under any other employee
benefit plan, contract or similar arrangement provided by the Company, unless
expressly so provided by such other plan, contract or arrangement.

 

16

 

ARTICLE VIII

CHANGE-OF-CONTROL

 

8.1                                 Definition of Change-of-Control.  For purposes of this Plan, a “Change-of-Control”
shall be deemed to have occurred if:

 

(a)                                  Any
“Person” (as defined below), excluding for this purpose the Company or any
subsidiary of the Company, any employee benefit plan of the Company or of any
subsidiary of the Company, or any entity organized, appointed or established
for or pursuant to the terms of any such plan which acquires beneficial
ownership of common shares of the Company, is or becomes the “Beneficial Owner”
(as defined below) of twenty percent (20%) or more of the common shares of the
Company then outstanding; provided, however, that no Change-of-Control shall be
deemed to have occurred as the result of an acquisition of common shares of the
Company by the Company which, by reducing the number of shares outstanding,
increases the proportionate beneficial ownership interest of any Person to
twenty percent (20%) or more of the common shares of the Company then
outstanding, but any subsequent increase in the beneficial ownership interest
of such a Person in common shares of the Company shall be deemed a
Change-of-Control; and provided further that if the Board determines in good
faith that a Person who has become the Beneficial Owner of common shares of the
Company representing twenty percent (20%) or more of the common shares of the
Company then outstanding has inadvertently reached that level of ownership
interest, and if such Person divests as promptly as practicable a sufficient
number of shares of the Company so that the Person no longer has a beneficial
ownership interest in twenty percent (20%) or more of the common shares of the
Company then outstanding, then no Change-of-Control shall be deemed to have
occurred.  For purposes of this
paragraph (a), the following terms shall have the meanings set forth
below:

 

	
  (i)

  	
  “Person” shall mean any individual, firm,
  limited liability company, corporation or other entity, and shall include any
  successor (by merger or otherwise) of any such entity.

  
	
   

  	
   

  
	
  (ii)

  	
  “Affiliate” and “Associate” shall have the
  respective meanings ascribed to such terms in Rule 12b-2 of the General
  Rules and Regulations under the Securities Exchange Act of 1934, as
  amended (the “Exchange Act”).

  
	
   

  	
   

  
	
  (iii)

  	
  A Person shall be deemed the “Beneficial
  Owner” of and shall be deemed to “beneficially own” any securities:

  

 

(A)                              which
such Person or any of such Person’s Affiliates or Associates beneficially owns,
directly or indirectly (determined as provided in Rule 13d-3 under the
Exchange Act);

 

(B)                                which
such Person or any of such Person’s Affiliates or Associates has (1) the
right to acquire (whether such right is exercisable immediately or only after
the passage of time) pursuant to any agreement, arrangement or understanding
(other than customary agreements with and between underwriters and selling
group members with respect to a bonafide public offering of securities), or
upon the exercise of conversion rights, exchange rights, rights (other than
rights under the Company’s Rights Agreement dated June 25, 1996 with The
Bank of New York, as amended), warrants or options, or otherwise; provided,
however, that a Person shall not be deemed the Beneficial Owner of, or to
beneficially own, securities tendered pursuant to a tender or exchange offer
made by or on behalf of such Person or any of such Person’s Affiliates or
Associates until such tendered securities are accepted for purchase or
exchange; or (2) the right to vote pursuant to any agreement, arrangement
or understanding; provided, however, that a Person shall not be deemed the
Beneficial Owner of, or to beneficially own, any security if the agreement,
arrangement or understanding to vote such security (a) arises solely from
a revocable proxy or consent given to such Person in response to a public proxy
or consent solicitation made pursuant to, and in accordance with, the
applicable rules and regulations promulgated 

 

17

 

under the Exchange
Act and (b) is not also then reportable on Schedule 13D under the
Exchange Act (or any comparable or successor report); or

 

(C)                                which
are beneficially owned, directly or indirectly, by any other Person with which
such Person or any of such Person’s Affiliates or Associates has any agreement,
arrangement or understanding (other than customary agreements with and between
underwriters and selling group members with respect to a bona fide public
offering of securities) for the purpose of acquiring, holding, voting (except
to the extent contemplated by the proviso to subparagraph (a)(iii)(B)(2),
above) or disposing of any securities of the Company.

 

Notwithstanding
anything in this definition of Beneficial Ownership to the contrary, the phrase
“then outstanding,” when used with reference to a Person’s beneficial ownership
of securities of the Company, shall mean the number of such securities then
issued and outstanding together with the number of such securities not then
actually issued and outstanding which such Person would be deemed to own beneficially
hereunder.

 

(b)                                 During
any period of two (2) consecutive years, individuals who at the beginning
of such two-year period constitute the Board and any new director or directors
(except for any director designated by a person who has entered into an agreement
with the Company to effect a transaction described in paragraph (a),
above, or paragraph (c), below) whose election by the Board or nomination
for election by the Company’s shareholders was approved by a vote of at least
two-thirds of the directors then still in office who either were directors at
the beginning of the period or whose election or nomination for election was
previously so approved, cease for any reason to constitute at least a majority
of the Board; or

 

(c)                                  Approval
by the shareholders of (or if such approval is not required, the consummation
of) (i) a plan of complete liquidation of the Company, (ii) an
agreement for the sale or disposition of the Company or all or substantially
all of the Company’s assets, (iii) a plan of merger or consolidation of
the Company with any other corporation, or (iv) a similar transaction or
series of transactions involving the Company (any transaction described in
parts (i) through (iv) of this paragraph (c) being referred
to as a “Business Combination”), in each case unless after such a Business
Combination the shareholders of the Company immediately prior to the Business
Combination continue to own at least eighty percent (80%) of the voting
securities of the new (or continued) entity immediately after such Business
Combination, in substantially the same proportion as their ownership of the
Company immediately prior to such Business Combination.

 

A “Change-of-Control”
shall not include any transaction described in paragraph (a) or (c) above
where, in connection with such transaction, a participant and/or any party
acting in concert with that participant shall substantially increase their, his
or its, as the case may be, ownership interest in the Company or a successor to
the Company (other than through conversion of prior ownership interests in the
Company and/or through equity awards received entirely as compensation for past
or future personal services).

 

8.1A                       Definition of 409A
Change-of-Control. 
For purposes of this Plan, a “409A Change-of-Control” means the
occurrence of any of the following events:

 

(a)                                  any
person or Group acquires ownership of Company’s stock that, together with stock
held by such person or Group, constitutes more than 50% of the total fair
market value or total voting power of Company’s stock, (including an increase
in the percentage of stock owned by any person or Group as a result of a
transaction in which Company acquires its stock in exchange for property,
provided that the acquisition of additional stock by any person or Group deemed
to own more than 50% of the total fair market value or total voting power of
Company’s stock on January 1, 2005, shall not constitute a 409A
Change-of-Control); or

 

(b)                                 any
person or Group acquires (or has acquired during the 12-month period ending on
the date of the most recent acquisition by such person or Group) ownership of
Company stock possessing 30%  or more of
the total voting power of Company stock; or

 

18

 

(c)                                  a
majority of the members of the Board is replaced during any 12-month period by
directors whose appointment or election is not endorsed by a majority of the
members of the Board prior to the date of the appointment or election; or

 

(d)                                 any
person or Group acquires (or has acquired during the 12-month period ending on
the date of the most recent acquisition by such person or Group) assets from
Company that have a total Gross Fair Market Value equal to 40% or more of the
total Gross Fair Market Value of all Company assets immediately prior to such
acquisition or acquisitions, provided that there is no 409A Change-of-Control
when Company’s assets are transferred to:

 

	
  (1)

  	
  a shareholder of Company (immediately
  before the asset transfer) in exchange for or with respect to Company stock;

  
	
   

  	
   

  
	
  (2)

  	
  an entity, 50% or more of the total value
  or voting power of which is owned, directly or indirectly, by Company;

  
	
   

  	
   

  
	
  (3)

  	
  a person or Group that owns, directly or
  indirectly, 50% or more of the total value or voting power of all outstanding
  Company stock; or

  
	
   

  	
   

  
	
  (4)

  	
  an entity, at least 50% of the total value
  or voting power of which is owned, directly or indirectly, by a person
  described in paragraph (iii).

  

 

For
purposes of the above sub-paragraph (d), a person’s status is determined
immediately after the transfer of the assets. 
For example, a transfer to a corporation in which Company has no
ownership interest before the transaction, but which is a majority-owned
subsidiary of Company after the transaction is not a 409A Change-of-Control.

 

For
purposes of this Section 8.1A, “Gross Fair Market Value” means the value
of assets determined without regard to any liabilities associated with such
assets.

 

For
purposes of this Section 8.1A, “Group” means persons acting together for
the purpose of acquiring Company stock and includes owners of a corporation
that enters into a merger, consolidation, purchase or acquisition of stock, or
similar business transaction with Company. If a person owns stock in both
Company and another corporation that enter into a merger, consolidation
purchase or acquisition of stock, or similar transaction, such person is
considered to be part of a Group only with respect to ownership prior to the
merger or other transaction giving rise to the change and not with respect to
the ownership interest in the other corporation. Persons will not be considered
to be acting as a Group solely because they purchase assets of the same
corporation at the same time, or as a result of the same public offering.

 

8.2                                 Benefit Rights Upon Change-of-Control.

 

(a)                                  Notwithstanding
any other provision of the Plan to the contrary, in the event of a
Change-of-Control, the Company or any successor shall be prohibited from
amending or terminating the Plan in any manner so as to deprive, directly or
indirectly, any current or former Participant, Surviving Spouse, or Beneficiary
of all or any portion of any Supplemental Retirement Benefit or Supplemental
Plan Preretirement Death Benefit, the payment of which has commenced prior to
the effective date of such amendment or termination, or which would be payable
if the Participant’s employment terminated for any reason, including death, on
such effective date.  Following a
Change-of-Control or 409A Change-of-Control, no action shall be taken under the
Plan that will cause any of the Non-409A
Supplemental Retirement Benefits to be subject to Code Section 409A
coverage or cause any of the 409A
Supplemental Retirement Benefits to fail to comply in any respect with
Code Section 409A, in either case, without the written consent of the
Participant, Surviving Spouse, or Beneficiary (as applicable).

 

19

 

(b)                                 In
the event that the Plan is terminated following a Change-of-Control, each
current or former Participant, Surviving Spouse, or Beneficiary, shall be paid
immediately a lump sum amount with respect to the Non-409A Supplemental
Retirement Benefits (and with respect to the 409A Supplemental Retirement
Benefits if such Plan (together with any other deferred compensation
arrangements as required by Code Section 409A) terminates).  This amount shall be the Actuarial Equivalent
of any of the Non-409A Supplemental Retirement Benefits (and with respect to
the 409A Supplemental Retirement Benefits if applicable) or Supplemental Plan
Preretirement Death Benefit, the payment of which has commenced prior to the
effective date of any such termination, or which would be payable if the
Participant’s employment terminated on the effective date of any Plan
termination.

 

(c)                                  For
the purpose of determining a Participant’s, Surviving Spouse’s, or Beneficiary’s
right to receive a benefit (but not the amount of any such benefit) under this Article VIII,
any Participant who has not yet become eligible for a Qualified Plan Retirement
Benefit shall be deemed to have done so upon the Change-of-Control.

 

(d)                                 Subject
to Section 5.3, the benefit rights of any Participant under this Plan
shall be determined only after taking into account the effect of any Severance
Agreement between the Company and the Participant.

 

8.3                                 Excess Parachute Payments by the Company.

 

(a)                                  Anything
in this Plan to the contrary notwithstanding, in the event it shall be
determined that any payment or distribution by the Company to or for the
benefit of a Participant (whether paid or payable or distributed or
distributable pursuant to the terms of this Plan or otherwise, but determined
without regard to any additional payments required under this Section 8.3
(a “Payment”) would be subject to the excise tax imposed by Code Section 4999
or if any interest or penalties are incurred by the Participant with respect to
such excise tax (such excise tax, together with any such interest and
penalties, being hereinafter collectively referred to as the “Excise Tax”),
then the Participant shall be entitled to receive an additional payment (a “Gross-Up
Payment”) in an amount such that, after payment by the Participant of all taxes
(including any interest or penalties imposed with respect to such taxes),
including, without limitation, any income taxes (and any interest and penalties
imposed with respect thereto) and Excise Tax imposed upon the Gross-Up Payment,
the Participant retains an amount of the Gross-Up Payment equal to the Excise
Tax imposed upon the Payment.

 

(b)                                 Subject
to the provisions of paragraph (c) below, all determinations required
to be made under this Section 8.3, including whether and when a Gross-Up
Payment is required and the amount of such Gross-Up Payment and the assumptions
to be utilized in arriving at such determination, shall be made by the accounting
firm which is then serving as the auditors for the Company (the “Accounting
Firm”), which shall provide detailed supporting calculations to both the
Company and the Participant within fifteen (15) business days of the
receipt of notice from the Participant that there has been a Payment, or such
earlier time as is required by the Company. 
In the event that the Accounting Firm is serving as accountant or
auditor for the individual, entity or group effecting the Change-of-Control,
the Participant shall appoint another nationally recognized accounting firm to
make the determinations required hereunder (which accounting firm shall then be
referred to as the “Accounting Firm” hereunder).  All fees and expenses of the Accounting Firm
shall be borne solely by the Company. 
Any Gross-Up Payments, as determined pursuant to this Section 8.3,
shall be paid by the Company to the Participant within five (5) days of
the receipt of the Accounting Firm’s determination, but shall be paid no later
than the end of the Participant’s taxable year next following the Participant’s
taxable year in which the Participant remits the related taxes.  If the Accounting Firm determines that no
Excise Tax is payable by the Participant, it shall furnish the Participant with
a written opinion that failure to report the Excise Tax on the Participant’s
applicable federal income tax return would not result in the imposition of a
negligence or similar penalty.  Any good
faith determination by the Accounting Firm shall be binding upon the Company
and the Participant.  As a result of the
uncertainty in the application of Code Section 4999 at the time of the
initial determination by the Accounting Firm hereunder, it is possible that
Gross-Up Payments which will not have been made by the Company should have been
made (“Underpayment”), consistent with the calculations required to be made
hereunder.  In the event that the Company
exhausts its remedies pursuant to paragraph (c) below, and the
Participant thereafter is required to make a payment of any Excise Tax, the
Accounting Firm shall determine the amount of the Underpayment that has
occurred and any such Underpayment shall be promptly paid by the Company to or
for the benefit of the Participant, but shall be paid 

 

20

 

no later than the end of
the Participant’s taxable year next following the Participant’s taxable year in
which the Participant remits the related taxes.

 

(c)                                  The
Participant shall notify the Company in writing of any claim by the Internal
Revenue Service that, if successful, would require the payment by the Company
of a Gross-Up Payment.  Such notification
shall be given as soon as practicable, but no later than fifteen
(15) business days after the Participant is informed in writing of such
claim and shall apprise the Company of the nature of such claim and the date on
which such claim is requested to be paid. 
The Participant shall not pay such claim prior to the expiration of the
thirty (30)-day period following the date on which the Participant gives such
notice to the Company (or such shorter period ending on the date that any
payment of taxes with respect to such claim is due).  If the Company notifies the Participant in
writing prior to the expiration of such period that it desires to contest such
claim, the Participant shall:

 

	
  (i)

  	
  Give the Company any information reasonably
  requested by the Company relating to such claim,

  
	
   

  	
   

  
	
  (ii)

  	
  Take such action in connection with
  contesting such claim as the Company shall reasonably request in writing from
  time to time, including, without limitation, accepting legal representation
  with respect to such claim by an attorney reasonably selected by the Company,

  
	
   

  	
   

  
	
  (iii)

  	
  Cooperate with the Company in good faith in
  order to effectively contest such claim, and

  
	
   

  	
   

  
	
  (iv)

  	
  Permit the Company to participate in any
  proceedings relating to such claim;

  

 

provided,
however, that the Company shall bear and pay directly all costs and expenses
(including additional interest and penalties) incurred in connection with such
contest and shall indemnify and hold the Participant harmless, on an after-tax
basis, for any Excise Tax or income tax (including interest and penalties with
respect thereto) imposed as a result of such representation and payment of
costs and expenses.  Without limiting the
foregoing provision of this paragraph (c), the Company shall control all
proceedings taken in connection with such contest and, at its sole option, may
pursue or forego any and all administrative appeals, proceedings, hearings, and
conferences with the taxing authority in respect of such claim and may, at its
sole option, either direct the Participant to pay the tax claimed and sue for a
refund or contest the claim in any permissible manner; and the Participant
agrees to prosecute such contest to a determination before any administrative
tribunal, in a court of initial jurisdiction and in one or more appellate
courts, as the Company shall determine; provided, however, that if the Company
directs the Participant to pay such claim and sue for a refund, the Company
shall advance the amount of such payment to the Participant on an interest-free
basis and shall indemnify and hold the Participant harmless, on an after-tax
basis, from any Excise Tax or income tax (including interest or penalties with
respect thereto) imposed with respect to such advance or with respect to any
imputed income with respect to such advance; and further provided that any
extension of the statute of limitations relating to payment of taxes for the
taxable year of the Participant with respect to which such contested amount is
claimed to be due is limited solely to such contested amount.  Furthermore, the Company’s control of the
contest shall be limited to issues with respect to which a Gross-Up Payment
would be payable hereunder and the Participant shall be entitled to settle or
contest, as the case may be, any other issue raised by the Internal Revenue
Service or any other taxing authority.

 

(d)                                 If,
after the receipt by the Participant of an amount advanced by the Company
pursuant to paragraph (c) above, the Participant becomes entitled to
receive any refund with respect to such claim, the Participant shall (subject
to the Company’s complying with the requirements of said paragraph (c))
promptly pay to the Company the amount of such refund (together with any
interest paid or credited thereon, after taxes applicable thereto).  If, after the receipt by the Participant of
an amount advanced by the Company pursuant to said paragraph (c), a
determination is made that the Participant shall not be entitled to any refund
with respect to such claim and the Company does not notify the Participant in
writing of its intent to contest such denial of refund prior to the expiration
of thirty (30) days after such determination, then such advance shall be
forgiven and shall not be required to be repaid (provided that such forgiveness
shall be made no later than the end of the Participant’s taxable year next
following the Participant’s taxable year in which the Participant remits the related
taxes); and the amount of such advance shall offset, to the extent thereof, the
amount of the Gross-Up Payment required to be paid.

 

21

 

ARTICLE IX

SPECIAL PROVISIONS

 

9.1                                 Former Participants in the General Signal
Corporation Supplemental Retirement Plan.  Certain employees of General Signal
Corporation were participants in the General Signal Corporation Supplemental
Retirement Plan (the “GSX Plan”), which terminated on December 31,
1998.  Benefits earned under the GSX Plan
through December 31, 1998 shall be paid instead under this Plan.  The Actuarial Equivalent of the GSX Plan
benefit on December 31, 1998 (including any early retirement subsidy for a
person eligible for early retirement under the GSX Plan on such date), shall be
the Initial Account Balance under this Plan. 
Thereafter, the Account Balances of such Participants shall be
maintained like any other Account Balance under this Plan.  Former participants in the GSX Plan will be
Participants in this Plan from and after January 1, 1999, only if, and for
so long as, they meet the requirements for being a Top Hat Participant, as set
forth in the Plan.

 

9.2                                 Certain Former General Signal Participants Eligible
for Transition Benefits.  Participants
in this Plan eligible for a Transition Benefit (as defined under the Qualified
Plan) with respect to their Qualified Plan account balance shall also receive
such a benefit from this Plan, calculated as if the Account Balance of a
Participant under this Plan was part of the Qualified Plan.  Persons who are eligible for a Transition
Benefit in the Qualified Plan who are not Participants in this Plan shall not
receive such a benefit from this Plan.

 

Benefits
shall be paid only if the plan administrator decides in its discretion that the
applicant is entitled to them.

 

22

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