Document:

Ex-10.10

 

EXHIBIT 10.10

TRIPLE CROWN MEDIA, INC.

2005 LONG TERM INCENTIVE PLAN

RESTRICTED STOCK AGREEMENT

     THIS AGREEMENT, entered into as of the Grant Date, by and between the Participant and Triple
Crown Media, Inc. (the “Company”).

     WHEREAS, the Company maintains the Triple Crown Media, Inc. 2005 Long Term Incentive Plan (the
“Plan”), which is incorporated into and forms a part of this Agreement, and the Participant has
been selected by the committee administering the Plan (the “Committee”) to receive an Award of
Restricted Stock (“Restricted Stock Award”) under the Plan;

     NOW, THEREFORE, IT IS AGREED, by and between the Company and the Participant, as follows:

	1.	 	Terms of Award. The following terms shall govern the Restricted Stock Award:

	 	(a)	 	The “Participant” is
                                        .
	 
	 	(b)	 	The “Grant Date” is February 15, 2006.
	 
	 	(c)	 	The number of shares of Restricted Stock awarded under this Agreement shall be
five thousand (5,000) shares. Shares of “Restricted Stock” are shares of Stock granted
under this Agreement and are subject to the terms of this Agreement and the Plan.
	 
	 	(d)	 	The purchase price for the shares of Restricted Stock is zero.
	 
	 	(d)	 	The “Period of Restriction” is the period beginning on the Grant Date and
ending on the applicable Vesting Date (as defined below).
	 
	 	(e)	 	The Vesting Date is the date the Period of Restriction will end and all or a
portion of the shares of Restricted Stock will be owned free and clear of any
restrictions by the Participant, except as otherwise provided in Section 4(b). The
            shares of Restricted Stock shall vest on the applicable Vesting Date as set forth on
the following schedule provided the Participant’s Date of Termination has not occurred
on or before such Vesting Date.

	 	 	 
	Number of Shares	 	Vesting Date
	1,000
	 	December 31, 2006
	1,000
	 	December 31, 2007
	1,000
	 	December 31, 2008
	1,000
	 	December 31, 2009
	1,000
	 	December 31, 2010

 

 

There shall be no proportionate or partial vesting in the periods prior to the
applicable Vesting Dates and all vesting shall occur only on the appropriate Vesting
Date.

	 	(f)	 	Shares of Restricted Stock may not be sold, assigned, transferred, pledged or
otherwise encumbered during the Period of Restriction. Except as otherwise provided in
Section 4, if the Participant’s Date of Termination occurs prior to the end of the
Period of Restriction, the Participant shall forfeit the Restricted Stock as of the
Participant’s Date of Termination without compensation.
	 
	 	(g)	 	If the Participant is a Reporting Person, the Participant shall be subject to
any additional restrictions imposed on Reporting Persons under the provisions of the
Plan.

	2.	 	Dividends and Voting Rights. The Participant shall be entitled to receive and retain
any dividends on shares of Restricted Stock that become payable during the Period of
Restriction (although such dividends shall be treated, to the extent required by applicable
law, as additional compensation for tax purposes if paid on Restricted Stock); provided,
however, that no dividends shall be payable to or for the benefit of the Participant with
respect to record dates occurring prior to the Grant Date, or with respect to record dates
occurring on or after the date, if any, on which the Participant has forfeited the Restricted
Stock. The Participant shall, except as set forth in the Plan or this Agreement, be entitled
to exercise all other rights, powers and privileges of a holder of Stock with respect to the
Restricted Stock, including the right to vote the shares of Restricted Stock during the Period
of Restriction, with the exceptions that (i) the Participant
shall not be entitled to vote the shares with respect to record dates for such voting rights arising prior to the Grant Date, or
with respect to record dates occurring on or after the date, if any, on which the Participant
has forfeited the Restricted Stock and (ii) the Participant shall be required to deposit with
the Company any property issued in respect of the Restricted Stock (other than regular
cash dividends which will be paid to you) during the Restriction Period and such property
shall be subject to the same restrictions as the Restricted Stock with regard to which they
are issued and shall herein be encompassed within the term “Restricted Stock.”

	3.	 	Holding of Restricted Stock. Each certificate issued in respect of shares of
Restricted Stock granted under this Agreement shall be delivered and held by the Participant
subject to the transfer restrictions, forfeiture provisions and other terms and conditions
contained in this Agreement and the Plan. Each such certificate shall contain a legend
reflecting that the shares are subject to the restrictions and other terms and conditions
provided for in this Agreement and Plan. Each such certificate shall be returned to the
Company immediately upon forfeiture of the shares of Restricted Stock.

	4.	 	Accelerated Vesting and Forfeiture of Shares. Subject to the provision of Section
4(b) of this Agreement and provided the Restricted Stock has not been otherwise forfeited
under another provision of this Agreement:

 

 

	 	(a)	 	The Participant shall become vested in the shares of Restricted Stock, and
become owner of the shares free of all restrictions otherwise imposed by this
Agreement, prior to the Vesting Date set forth in Section 1 as follows:

	 	(i)	 	The Participant shall become fully vested in the shares of
Restricted Stock as of the date of a Change of Control, if the Change of
Control occurs prior to the Vesting Date of the Restricted Stock, and the
Participant’s Date of Termination does not occur before the Change of Control
date.
	 
	 	(ii)	 	The Participant shall become fully vested in the shares of
Restricted Stock as of the Participant’s Date of Termination if as of such Date
of Termination the Participant has a Disability.
	 
	 	(iii)	 	The Participant shall become fully vested in the shares of
Restricted Stock as of the Participant’s Date of Termination if the Date of
Termination occurs because of the Participant’s death.
(Ownership of such shares of Stock shall be determined pursuant to Section 9 of this Agreement.)

	 	(b)	 	Notwithstanding any other provision of the Plan or this Agreement, the Company
shall have no liability to deliver any shares of Restricted Stock under the Plan or
this Agreement or make any other distributions of benefits under this Agreement or the
Plan unless delivery or distribution would comply with all applicable laws (including,
without limitation, the requirements of the Securities Act of 1933), and the applicable
requirements of any securities exchange or similar entity.

	5.	 	Definitions. For purposes of this Agreement, the terms used in this Agreement shall
be subject to the following:

	 	(a)	 	Date of Termination. The Participant’s “Date of Termination” shall be
the first day occurring on or after the Grant Date on which the Participant is no
longer a director of the Company or any Subsidiary. If the Participant is both a
director and an employee of the Company on the Grant Date, then the Participant’s “Date
of Termination” shall be the first day occurring on or after the Grant Date on which
the Participant is (i) no longer an employee of the Company or any Subsidiary and is
(ii) no longer a director of the Company.
	 
	 	(b)	 	Disability. Except as otherwise provided by the Committee, the
Participant shall be considered to have a “Disability” if the Participant is deemed to
have a “permanent and total disability,” as defined in Section 22(e)(3) of the Code, as
determined by the Committee in good faith, upon receipt of and in reliance on
sufficient competent medical advice.

Except where the context clearly implies or indicates the contrary, a word, term, or phrase
used in the Plan is similarly used in this Agreement.

 

 

	6.	 	Securities Representations. The shares of Restricted Stock are being issued to the
Participant and this Agreement is being made by the Company in reliance upon the following
express representations and warranties of the Participant:

	 	(a)	 	The Participant has been advised that he or she may be an “affiliate” within
the meaning of Rule 144 under the Securities Act of 1933 and in this connection the
Company is relying in part on his or her representations set forth in this section.
	 
	 	(b)	 	If the Participant is deemed an affiliate within the meaning of Rule 144 of the
Act, the shares of Stock must be held indefinitely unless an exemption from any
applicable resale restrictions is available or the Company files an additional
registration statement (or a “re-offer prospectus”) with regard to such Shares and the
Company is under no obligation to register the Shares (or to file a “re-offer
prospectus”).
	 
	 	(c)	 	If the Participant is deemed an affiliate within the meaning of Rule 144 of the
Act, the Participant understands that the exemption from registration under Rule 144
will not be available unless (i) a public trading market then exists for the Stock of
the Company, (ii) adequate information concerning the Company is then available to the
public, and (iii) other terms and conditions of Rule 144 or any exemption therefrom are
complied with; and that any sale of the Shares may be made only in limited amounts in
accordance with such terms and conditions.

	7.	 	Power of Attorney. The Company, its successors and assigns, is hereby appointed the
attorney-in-fact, with full power of substitution, of the Participant for the purpose of
carrying out the provisions of this Agreement and taking any action and executing any
instruments which such attorney-in-fact may deem necessary or advisable to accomplish the
purposes hereof, which appointment as attorney-in-fact is irrevocable and coupled with an
interest. In connection with actions permitted under the terms of this Agreement, the
Company, as attorney-in-fact for the Participant, may in the name and stead of the
Participant, make and execute all conveyances, assignments and transfers of the Restricted
Stock, shares of Stock and property provided for herein, and the Participant hereby ratifies
and confirms all that the Company, as said attorney-in-fact, shall do in good faith by virtue
hereof. Nevertheless, the Participant shall, if so requested by the Company, execute and
deliver to the Company all such instruments as may, in the judgment of the Company, be
advisable for such purpose.

	8.	 	Heirs and Successors. This Agreement shall be binding upon, and inure to the benefit
of, the Company and its successors and assigns, and upon any person acquiring, whether by
merger, consolidation, purchase of assets or otherwise, all or substantially all of the
Company’s assets and business. If any rights by the Participant or benefits deliverable to
the Participant under this Agreement have not been delivered, respectively, at the time of the
Participant’s death, such benefits shall be delivered to the Designated Beneficiary, in
accordance with the provisions of this Agreement and the Plan. The “Designated Beneficiary”
shall be the beneficiary or beneficiaries designated by the Participant in a writing filed
with the Committee in such form and at such time as the Committee shall

 

 

require. If a deceased Participant fails to designate a beneficiary, or if the Designated
Beneficiary does not survive the Participant, any benefits distributable to the Participant
shall be distributed to the legal representative of the estate of the Participant. If a
deceased Participant designates a beneficiary but the Designated Beneficiary dies before the
complete distribution of benefits to the Designated Beneficiary under this Agreement, then
any benefits distributable to the Designated Beneficiary shall be distributed to the legal
representative of the estate of the Designated Beneficiary.

	9.	 	Administration. The authority to manage and control the operation and administration
of this Agreement shall be vested in the Committee, and the Committee shall have all powers
with respect to this Agreement as it has with respect to the Plan. Any interpretation of the
Agreement by the Committee and any decision made by it with respect to the Agreement are final
and binding on all persons.

	10.	 	Plan Governs. Notwithstanding anything in this Agreement to the contrary, the terms
of this Agreement shall be subject to the terms of the Plan, a copy of which may be obtained
by the Participant from the office of the Secretary of the Company; and this Agreement is
subject to all interpretations, amendments, rules and regulations promulgated by the Committee
from time to time pursuant to the Plan

	11.	 	Amendment. This Agreement may be amended by written Agreement of the Participant and
the Company, without the consent of any other person.

	12.	 	Taxes; Section 83(b) Election.

	 	(a)	 	The Participant agrees that, subject to Section 12(b) below, no later than the
date on which any Restricted Stock shall have become vested and prior to the delivery
of such stock certificates, the Participant will pay to the Company, or make
arrangements satisfactory to the Company regarding payment of, any federal, state or
local taxes of any kind required by law to be withheld with respect to the Restricted
Stock which shall have become so vested and the Company shall, to the extent permitted
by law, have the right to (but not be obligated to) deduct from any payment of any kind
(including shares of Stock hereunder) otherwise due to the Participant any federal,
state or local taxes of any kind required by law to be withheld with respect to the
Restricted Stock which shall have become so vested.
	 
	 	(b)	 	If the Participant properly elects (as required by Section 83(b) of the Code)
within 30 days after the issuance of the Restricted Stock to include in gross income
for federal income tax purposes in the year of issuance the fair market value of such
Restricted Stock, the Participant shall pay to the Company or make arrangements
satisfactory to the Company to pay to the Company upon such election, any federal,
state or local taxes required to be withheld with respect to the Restricted Stock. If
the Participant shall fail to make such payment, the Company shall, to the extent
permitted by law, have the right to deduct from any payment of any kind otherwise due
to the Participant any federal, state or local taxes of any kind required by law to be
withheld with respect to the Restricted Stock. THE PARTICIPANT SHOULD CONSULT WITH HIS
TAX ADVISOR TO

 

 

DETERMINE THE TAX CONSEQUENCES OF ACQUIRING THE SHARES OF STOCK AND THE ADVANTAGES
AND DISADVANTAGES OF FILING THE SECTION 83(B) ELECTION. THE PARTICIPANT
ACKNOWLEDGES THAT IT IS HIS SOLE RESPONSIBILITY, AND NOT THE COMPANY’S, TO FILE A
TIMELY ELECTION UNDER SECTION 83(B) OF THE CODE.

	13.	 	Acceptance. The Participant shall forfeit the Restricted Stock if the Participant
does not execute this Agreement within a period of 60 days from the date the Participant
receives this Agreement (or such other period as the Committee shall provide).

IN WITNESS WHEREOF, the Participant has executed this Agreement, and the Company has caused these
presents to be executed in its name and on its behalf, all as of the Grant Date.

	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 	 	PARTICIPANT	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	Social Security Number	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	TRIPLE CROWN MEDIA, INC.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	    Robert S. Prather, Jr.	 	 	 	 
	 

	 	Its:
	 	    ChairmanEX-10.1 AMENDED AND RESTATED TAX SHARING AGREEMENT

 

EXHIBIT 10.1

AMENDED AND RESTATED TAX SHARING AGREEMENT

     The Tax Sharing Agreement (the “Agreement”), dated as of September 23, 2005, by and
between Emdeon Corporation (formerly known as WebMD Corporation), a Delaware corporation
(“Emdeon”), and WebMD Health Corp., a Delaware corporation (“Health”), is hereby
amended and restated effective for taxable years beginning on and after January 1, 2006.

     WHEREAS, Emdeon is the common parent corporation of an affiliated group of corporations
(within the meaning of Section 1504(a) of the Internal Revenue Code of 1986, as amended (the
“Code”));

     WHEREAS, Health and the Health Domestic Subsidiaries (as defined below) are members of the
affiliated group of which Emdeon is the common parent corporation;

     WHEREAS, Health has made an initial public offering (the “Offering”) of its stock as
contemplated by the Form S-1 filed with the Securities and Exchange Commission on May 12, 2005, as
amended;

     WHEREAS, the Offering did not cause Health and the Health Domestic Subsidiaries to cease to be
members of Emdeon’s consolidated group for federal income tax purposes;

     WHEREAS, Emdeon, Health and the Health Domestic Subsidiaries will continue to file
consolidated federal income tax returns as required by Section 1501 of the Code (“Consolidated
Federal Tax Returns”) and various members of the Emdeon Group (as defined below) will continue to
file consolidated, combined or unitary income tax returns in some states, municipalities and
non-U.S. jurisdictions (“State, Local or Foreign Tax Returns”); and

     WHEREAS, Emdeon, Health, the Health Domestic Subsidiaries and other members of the Emdeon
Group desire to agree upon a method for determining the financial consequences to each party
resulting from the filing of a consolidated, combined or unitary income tax return; and

     NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, the
parties hereby agree as follows:

1. DEFINITIONS.

     (a) For purposes of this Agreement, the terms set forth below shall have the following
meanings.

          (i) “Alternative Minimum Tax” shall mean the tax imposed on corporations by Section 55
of the Code.

          (ii) “Consolidated Federal Tax Liability” shall mean, with respect to any taxable
year, the Regular Tax and the Alternative Minimum Tax actually paid by the Emdeon

1

 

Group with respect to such taxable year (without taking into account any carry-backs of tax
attributes from later taxable years).

          (iii) “Federal Tax Liability” of the Health Subgroup shall mean, with respect to any
taxable year, an amount equal to the Consolidated Federal Tax Liability multiplied by a fraction,
the numerator of which is the Health Subgroup’s Separate Return Tax Liability, and the denominator
is the sum of A) the Health Subgroup’s Separate Return Tax Liability and B) the Emdeon Subgroup’s
Separate Return Tax Liability.

          (iv) “Health Domestic Subsidiary” shall mean any Health Subsidiary that would be
eligible, from time to time, to join with Health in the filing of a Consolidated Federal Tax
Return, with Health as the common parent corporation, if Health and such Health Subsidiary were not
members of the Emdeon Group.

          (v) “Health Subgroup” shall be comprised of Health and the Health Subsidiaries.

          (vi) “Health Subsidiary” shall mean any corporation (as determined for tax purposes)
that is controlled, directly or indirectly, by Health. For this purpose, “control” shall mean
ownership of 50% or more of the stock or other equity interests in such corporations in terms of
voting power or equity value.

          (vii) “Health Tax Package” means all information requested by Emdeon, in a format
determined by Emdeon, in connection with a Consolidated Federal Tax Return of the Emdeon Group or a
State, Local or Foreign Tax Return that includes any member of the Emdeon SubGroup and any member
of the Health SubGroup. The Health Tax Package shall be prepared on a basis consistent with the
past practices of the Emdeon Group, or any relevant group of corporations with respect to any
consolidated, combined or unitary State, Local or Foreign Tax Return.

          (viii) “Regular Tax” shall mean the tax imposed on corporations by Section 11 of the
Code.

          (ix) “Separate Return Tax Liability” of the Emdeon Subgroup or Health Subgroup shall
mean, with respect to any taxable year, the liability for Regular Tax and Alternative Minimum Tax
for such taxable year, and any interest, penalties, and other additions to such taxes for such
taxable year, computed as if the Emdeon Subgroup or the Health Subgroup, as the case may be, was
not part of the Emdeon Group for such taxable year, but rather was a separate affiliated group of
corporations filing a Consolidated Federal Tax Return pursuant to Section 1501 of the Code. Such
computation shall be made (A) without regard to the income, deductions (including net operating
loss and capital loss deductions) and credits in any year of any member of the Emdeon Group which
is not a member of the relevant Subgroup, (B) with regard to net operating loss and capital loss
carry-forwards from earlier years (but not carry-backs from later years except to the extent
permitted by Section 2(g)) of the members of the relevant Subgroup; provided,
however that no account shall be taken of any loss carryforward or other tax attribute of
the Health Subgroup to the extent the Health Subgroup has previously received payment therefore
pursuant to Section 2(iv) below, (C) with regard to the

2

 

minimum tax credits of the relevant Subgroup, (D) as though the highest rate of tax specified
in Section 11(b) of the Code were the only Regular Tax rate applicable to the relevant Subgroup and
(E) consistent with the past practices of the Emdeon Group; provided, however, that
such computation can depart from the past practices of the Emdeon Group in the event of a change in
applicable Tax law or if Emdeon is advised by its accountants or counsel that adherence to past
practices would have an adverse effect on the Emdeon Group. Transactions between the Health
Subgroup and the Emdeon Subgroup that are deferred under the Treasury regulations promulgated
pursuant to Section 1502 of the Code shall also be deferred for purposes of this Agreement.

          (x) “Subgroup” shall mean the Health Subgroup or the Emdeon Subgroup.

          (xi) “Emdeon Group” shall mean Emdeon, Health, the Health Domestic Subsidiaries and
any other corporation (as determined for tax purposes) that is controlled, directly or indirectly,
by Emdeon. For this purpose, “control” shall mean ownership of 50% or more of the stock or other
equity interests in such corporation in terms of voting power or equity value.

          (xii) “Emdeon Subgroup” shall be comprised of all members of the Emdeon Group other
than the members of the Health Subgroup.

     (b) For all purposes of this Agreement, unless the context otherwise requires, the definition
of terms not defined herein shall be determined by reference to applicable law.

2. FEDERAL INCOME TAXES.

     (a) References. All references in this Section 2 to taxes or matters related to taxes
are references to federal income taxes and related federal income tax matters.

     (b) Tax Sharing. With respect to any taxable year (or portion thereof, if applicable)
of the Health Subgroup, Health shall pay to Emdeon an amount equal to the Health Subgroup’s Federal
Tax Liability.

     (c) Estimated Payments. Not later than fifteen days prior to each date on which an
estimated federal income tax installment is due (a “Tax Payment Date”), Emdeon shall
determine, and notify Health of, (i) the amount of the applicable required installment of the
required annual payment of the Emdeon Group under Section 6655(d) of the Code and (ii) the amount
of such required installment calculated by reference to the estimated Federal Tax Liability of the
Health Subgroup (such amount, the “Health Subgroup Estimated Payment”). Health shall then
pay to Emdeon, on or before the date which is three business days prior to such Tax Payment Date,
the Health Subgroup Estimated Payment. The Health Subgroup Estimated Payment shall be computed in
accordance with the past practices of the Emdeon Group except in the event of a change in
applicable Tax law, or if Emdeon is advised by its accountants or counsel that adherence to past
practices would have an adverse effect on the Emdeon Group.

     (d) Payment of Taxes at Year-End.

          (i) Emdeon shall determine, and notify Health of, the Health Subgroup

3

 

Payment within sixty days following the end of the taxable year for which such payment is to
be made. On or before the date which is three business days prior to the last date prescribed by
law for payment of the Consolidated Federal Tax Liability of the Emdeon Group for such year, Health
shall pay to Emdeon an amount equal to the excess, if any, of the Health Subgroup’s Federal Tax
Liability over the total Health Subgroup Estimated Payments made by Health with respect to such
taxable year. A similar rule shall apply to the extent the amount of the Health Subgroup’s Federal
Tax Liability is adjusted at or prior to the time at which the Consolidated Federal Tax Return for
such year is filed.

          (ii) If the aggregate amount of the Health Subgroup Estimated Payments for a given taxable
year is greater than the Health Subgroup’s Federal Tax Liability, Emdeon shall promptly remit such
excess amount to Health. A similar rule shall apply to the extent the amount of the Health
Subgroup’s Federal Tax Liability is adjusted at or prior to the time at which the Consolidated
Federal Tax Return for such year is filed.

          (iii) With respect to any Consolidated Federal Tax Return of the Emdeon Group, except as
described in subclause (iv) hereof (A) Emdeon shall not reimburse Health for the tax savings
attributable to the utilization of any net operating losses or other tax attributes of the Health
Subgroup to offset federal incomes taxes of the Emdeon Subgroup and (B) Health shall not reimburse
Emdeon for the tax savings attributable to the utilization of any net operating losses or other tax
attributes of Emdeon or any other member of the Emdeon Subgroup to offset federal incomes taxes of
the Health Subgroup.

          (iv) In any tax year in which the Emdeon Subgroup has income or gain from the sale of assets
(including a subsidiary) outside the ordinary course of business, extinguishment of debt or other
extraordinary transaction (“Extraordinary Gains”), Emdeon will make a payment to the Health
Subgroup in an amount equal to 35% of the excess of (A) the amount of the loss carryforwards of the
Health Subgroup actually absorbed by the Emdeon Group in the computation of the Consolidated
Federal Tax Liability for the year pursuant to Treas. Reg. Section 1.1502-21, over (B) the amount
of the loss carryforwards of the Health Subgroup that would have been absorbed in the computation
of the Consolidated Federal Tax Liability if such Extraordinary Gains had not been incurred by the
Emdeon Subgroup. Such payment shall be in full reimbursement for the tax savings (federal and
state) attributable to the excess amount of loss carryforward of the Health Subgroup so utilized as
a result of the Extraordinary Gains.

     (e) Alternative Minimum Tax. Notwithstanding anything to the contrary set forth
herein, Health shall only be required to make a payment to Emdeon with respect to the Health
Subgroup’s liability for Alternative Minimum Tax (computed as a Separate Return Tax Liability) for
any taxable year if the Emdeon Group has an actual Consolidated Federal Tax Liability in excess of
the Separate Return Tax Liability of the Emdeon Subgroup for such taxable year.

     (f) Treatment of Adjustments. If any adjustment (including an adjustment resulting in
a refund of tax) is made after the filing of a Consolidated Federal Tax Return of the Emdeon Group
in which income or loss of the Health Subgroup is included, then upon the earlier of the date on
which such adjustment is agreed to by Emdeon or becomes final and nonappealable as a matter of law,
Health shall pay to Emdeon, or Emdeon shall pay to Health, as the case may be, the difference
between all payments actually made by Health under Sections 2(b)-2(e) with

4

 

respect to the taxable year covered by such Consolidated Federal Tax Return and all payments
that would have been made by Health under Sections 2(b)-2(e) after taking into account the
applicable adjustment, together with any penalties and interest actually paid or received.

     (g) Treatment of Refunds. If a net operating loss is generated by the Health Subgroup
or any member thereof during any period in which it is not a member of the Emdeon Group, Health
and/or the relevant Health Subsidiary shall elect to relinquish any carry-back period with respect
to the Emdeon Group to the fullest extent permitted by applicable law. If a net operating loss, net
capital loss, business credit or other tax attribute generated by the Health Subgroup (or any
member thereof) during any period in which it is not a member of the Emdeon Group is carried back
to a Consolidated Federal Tax Return of the Emdeon Group, and a tax refund or credit is obtained or
otherwise realized, such refund or credit shall be the property of Emdeon and, if received by any
member of the Health Subgroup, shall be promptly paid over to

     Emdeon. Any tax refund or credit relating to the carry-back of a net operating loss, net
capital loss, business credit or other tax attribute of the Health Subgroup (or any member thereof)
from a period during which it is a member of the Emdeon Group shall be properly allocated between
the Emdeon Subgroup and the Health Subgroup in accordance with Section 2.

     (h) Preparation of Returns. So long as the Emdeon Group elects to file Consolidated
Federal Tax Returns as permitted by Section 1501 of the Code, Emdeon shall prepare and file such
Consolidated Federal Tax Returns and any other returns, documents or statements required to be
filed with the Internal Revenue Service (the “IRS”) with respect to the determination of
the Consolidated Federal Tax Liability of the Emdeon Group. Each member of the Health Subgroup
appoints Emdeon as its agent (as long as such corporation is a member of the Emdeon Group) for
purposes of filing such Consolidated Federal Tax Returns, making any election or application or
taking any action in connection therewith on behalf of the members of the Emdeon Group. Each member
of the Health Subgroup consents to the filing of such Consolidated Federal Tax Returns and the
making of such elections and applications and agrees to take, or the taking of, any action
(including the execution of any documents) necessary to permit such filings, elections or
applications to be made.

     (i) Audits and Proceedings. Emdeon shall have sole control of any audits or other
proceedings conducted by the IRS or any judicial proceeding, with respect to the Consolidated
Federal Tax Liabilities of the Emdeon Group. Emdeon shall give Health notice of, and shall consult
with Health in good faith with respect to, any issues relating to items of income, gain, loss,
deduction, credit or other tax attribute of any member of the Health Subgroup (any such items,
“Health Subgroup Return Items”). Health may, at its sole expense, participate in such
audits or proceedings solely with respect to Health Subgroup Return Items to the extent that
Emdeon, in its sole discretion, shall deem appropriate. For the avoidance of doubt, with respect to
an audit or proceeding conducted by the IRS, Emdeon shall have the right, in its sole discretion,
to pay any disputed taxes and sue for a refund in the forum of its choice. The terms of settlement
of any issues relating to such proceeding shall be in the sole discretion of Emdeon, and each
member of the Health Subgroup hereby appoints Emdeon as its agent for the purpose of proposing and
concluding any such settlement.

     (j) Cooperation. Health and each Health Subsidiary shall cooperate in the filing of

5

 

any Consolidated Federal Tax Returns for the Emdeon Group by maintaining such books and
records and providing such information as may be necessary or useful in the filing of such
Consolidated Federal Tax Returns and executing any documents and taking any actions which Emdeon or
any member of the Emdeon Group may reasonably request in connection therewith. Emdeon and each
member of the Emdeon Group will provide one another with such information concerning such returns
and the application of this Agreement as Emdeon or such member may reasonably request. Without
limiting the generality of the foregoing, Health shall deliver to Emdeon the Health Tax Package
within thirty days after request by Emdeon. Each of the Emdeon Subgroup and Health Subgroup shall
preserve all records relating to taxes for which the other Subgroup may be liable hereunder until
the expiration of the applicable statute of limitations, and shall make such records available to
the other Subgroup upon such other Subgroup’s prior reasonable request. To the extent that Emdeon
prepares and files any tax return of Health or any other member of the Health Subgroup that does
not include any member of the Emdeon Subgroup (a “Health Separate Return”), Health and the
Health Subsidiaries shall provide cooperation consistent with this Section 2(j) including, without
limitation, the delivery of a Health Tax Package relating to the Health Separate Return.

     (k) Payment of Tax; Indemnification. Emdeon shall pay or discharge, or cause to be
paid or discharged, the Consolidated Federal Tax Liability of the Emdeon Group for each taxable
year of the Emdeon Group. With respect to each taxable year of the Emdeon Group, (i) Emdeon shall
defend, indemnify and hold harmless Health from and against the difference between the Consolidated
Federal Tax Liability of the Emdeon Group and the Health Subgroup’s Federal Tax Liability, and (ii)
Health shall defend, indemnify and hold harmless Emdeon against the Health Subgroup’s Federal Tax
Liability; provided, however, that Health shall indemnify and hold harmless Emdeon
against any liability resulting from any information included in the Health Tax Package that is not
correct and complete in all material respects or the failure by Health to timely furnish Emdeon
with the Health Tax Package (or any material part thereof). Except as provided in this Agreement,
(i) Emdeon shall be responsible for, and shall indemnify and hold harmless Health against, any
taxes of any member of the Emdeon Subgroup, and (ii) Health shall be responsible for, and shall
indemnify and hold harmless Emdeon against, any taxes of any member of the Health Subgroup.

3. STATE, LOCAL AND FOREIGN TAXES. If, for any taxable period, any tax based on or measured by
gross or net income or gross receipts or any franchise, capital, net worth or other similar tax
imposed by any state, local or foreign government (collectively, “State, Local or Foreign
Taxes”) is determined on a consolidated, combined or unitary basis by considering all or part
of the income, losses, properties, payrolls, sales or other attributes of a Health Subsidiary with
those of Emdeon or any other member of the Emdeon Subgroup (regardless of whether a State, Local or
Foreign Tax Return is filed on a consolidated, combined or unitary basis), Health shall make
payments to Emdeon in satisfaction of such State, Local or Foreign Tax, and Emdeon shall make
payments to Health with respect to such State, Local or Foreign Tax, according to the same general
principles described above in Sections 2(b) through 2(f). Each of Health and Emdeon also shall be
subject to the tax refund or credit provisions of Section 2(g), tax return preparation and filing
provisions of Section 2(h), the tax audit provisions of Section 2(i), the tax cooperation
provisions of Section 2(j) and the indemnification provisions of Section 2(k) with respect to such
State, Local or Foreign Tax in the same manner as if the State, Local or Foreign Tax was a
Consolidated Federal Tax Liability (subject to such adjustments, as reasonably

6

 

determined
by Emdeon, to give effect to differences between applicable State, Local or Foreign Tax
law and federal income tax law).

4. TERM AND OTHER MATTERS.

     (a) Survival. The term of this Agreement shall commence as of the date hereof, for the
taxable year including the date hereof for which a Consolidated Federal Tax Return for the Emdeon
Group is filed. Subject to Section 4(b) below, this Agreement shall terminate with respect to any
Health Subsidiary as of the end of the date on which such Health Subsidiary ceases to be a member
of the Emdeon Group and shall terminate as to all Health Subsidiaries in the event the Health
Subgroup ceases to be part of the Emdeon Group as of the end of the date of such termination;
provided, however, that all rights and obligations arising hereunder with respect to a
taxable period ended at or prior to any cessation or termination shall survive until the expiration
of the statute of limitations for such taxable period.

     (b) Emdeon Distribution of Health Stock. Neither Emdeon nor Health shall knowingly
take or fail to take (or permit any member of its respective Subgroup to take or fail to take) any
action that could reasonably be expected to preclude Emdeon’s ability to undertake (as determined
in its sole discretion) a distribution of all or a portion of Emdeon’s Health shares to the
shareholders of Emdeon in a transaction intended to qualify as a distribution under Section 355 of
the Code (a “Health Stock Distribution”). In the event Emdeon decides to undertake (as
determined in its sole discretion) a Health Stock Distribution, Emdeon and Health acknowledge and
agree that, prior to the consummation of such Health Stock Distribution, they shall execute a new
tax sharing agreement setting forth the respective rights, responsibilities and obligations of the
parties with respect to such Health Stock Distribution and any other tax matters (including tax
liabilities) of the Emdeon Group for taxable years prior to and including the taxable year in which
such Health Stock Distribution is effected. For the avoidance of doubt, such new tax sharing
agreement may contain provisions that substantively differ from those herein, and shall include (i)
customary covenants designed to ensure that neither Emdeon nor Health knowingly takes or fails to
take (or permits any of its affiliates to take or fail to take) any action that could reasonably be
expected to preclude the qualification of the Health Stock Distribution under Section 355 of the
Code, (ii) an allocation of tax liability between Emdeon and Health in the event of a determination
(within the meaning of Section 1313 of the Code) that the Health Stock Distribution did not qualify
under Section 355 of the Code and (iii) reasonable or customary tax indemnity (and related)
provisions relating to past tax liabilities and attributes of the Health Subgroup.

5. DISPUTE RESOLUTION. In the event that any dispute arises under this Agreement, Emdeon and
Health agree to negotiate in good faith to resolve such dispute prior to submitting such dispute to
a nationally recognized independent accounting firm, mutually acceptable to both Emdeon and Health
(the “Independent Accounting Firm”). Either Emdeon or Health may at any time deliver a
notice to the other party requesting referral of a dispute to a senior executive of Emdeon and a
senior executive of Health. Following receipt of such notice each of Emdeon and Health shall
designate one of its senior executives to negotiate in good faith to resolve such dispute within 10
days (or such longer period of time as such officers may agree to in writing). If at the end of
such 10-day (or longer if properly extended) period the designated officers have not fully resolved
the dispute to their mutual satisfaction, either party may thereafter submit such

7

 

dispute to the Independent Accounting Firm. The Independent Accounting Firm shall issue its
determination within thirty days of submission of a dispute. Absent manifest error, the decision of
the Independent Accounting Firm shall be final and binding on the parties. The fees and expenses of
the Independent Accounting Firm shall be shared equally by Emdeon and Health.

6. SUCCESSORS. This Agreement shall be binding upon and inure to the benefit of the parties and
their respective successors and permitted assigns. This Agreement may not be assigned by a party by
operation of law or otherwise without the express written consent of Emdeon, in the case of
assignment by a member of the Health Subgroup, or Health, in the case of assignment by a member of
the Emdeon Subgroup (which consent may be granted or withheld by Emdeon or Health, as the case may
be, in its sole discretion). For the avoidance of doubt, this agreement shall be binding on and
inure to the benefit of any successor, by merger, acquisition of assets or otherwise, to any of the
parties hereto (including but not limited to any successor of Emdeon or any member of the Emdeon
Group succeeding to the tax attributes of such party under Section 381 of the Code), to the same
extent as if such successor had been an original party hereto. If any corporation (other than any
member of the Emdeon Group as of the date hereof) becomes a member of the Emdeon Group after the
date hereof, then Emdeon, if such corporation is a member of the Emdeon Subgroup, or Health, if
such corporation is a member of the Health Subgroup, shall cause such corporation to sign a joinder
agreement and become bound by the terms hereof.

7. SUCCESSOR PROVISIONS. Any reference herein to any provisions of the Code or Treasury
regulations shall be deemed to include any amendments or successor provisions thereto.

8. AUTHORIZATION, ETC. Each of the parties hereto hereby represents and warrants that it has the
power and authority to execute, deliver and perform this Agreement, that this Agreement has been
duly authorized by all necessary corporate action on the part of such party, that this Agreement
constitutes a legal, valid and binding obligation of such party and that the execution, delivery
and performance of this Agreement by such party does not contravene or conflict with any provision
of law or of its charter or bylaws or any agreement, instrument or order binding on such party.

9. SECTION CAPTIONS. Section captions used in this Agreement are for convenience and reference
only and shall not affect the construction of this Agreement.

10. GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS
OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO LAWS AND PRINCIPLES RELATING TO CONFLICTS OF LAW.

11. COUNTERPARTS. This Agreement may be executed in any number of counterparts, each of which
shall be deemed an original, but all of which together shall constitute one and the same Agreement.

12. WAIVERS AND AMENDMENTS. This Agreement shall not be waived, amended or otherwise modified
except in writing, duly executed by all of the parties hereto.

8

 

     IN WITNESS WHEREOF, each of the parties hereto has caused this Amended and Restated Tax
Sharing Agreement to be executed by a duly authorized officer effective as of February 15, 2006.

	 	 	 	 	 	 	 
	 	 	EMDEON CORPORATION
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Andrew C. Corbin	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Andrew C. Corbin	 	 
	 

	 	Title:
	 	EVP and Chief Financial Officer	 	 
	 
	 	 	 	 	 	 

	 	 	 
	 

	 	WEBMD HEALTH CORP.
	 

	 	WEBMD, INC.
	 

	 	BABYDATA.COM, INC.
	 

	 	BOCA SUBSIDIARY CORP.
	 

	 	DEMAND MANAGEMENT, INC.
	 

	 	ENDEAVOR TECHNOLOGIES, INC.
	 

	 	HEALTH DECISIONS, INC.
	 

	 	HEALTHEON/WEBMD CABLE CORPORATION
	 

	 	HEALTHEON/WEBMD INTERNET CORPORATION
	 

	 	HEALTHSHARE TECHNOLOGY, INC.
	 

	 	HW JAPAN, INC.
	 

	 	MEDICINENET, INC.
	 

	 	MEDSCAPE PORTALS, INC.
	 

	 	MMM ACQUISITION COMPANY
	 

	 	ONHEALTH NETWORK COMPANY
	 

	 	OW CORP.
	 

	 	PHYSICIANS TELEPHONE DIRECTORY, INC.
	 

	 	RXLIST, INC.
	 

	 	TELEMEDICS, INC.
	 

	 	THE ORNISH HEALTH PROGRAM, INC.
	 

	 	WEBMD DOMAIN CORP.
	 

	 	WELLMED, INC.
	 
	 	 

	 	 	 	 	 
	 

	 	By:
	 	/s/ David Schlanger
	 

	 	 	 	 
	 

	 	Name:
	 	David Schlanger
	 

	 	Title:
	 	Senior Vice President

9

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