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Exhibit 4.17  

THIS SECURED PROMISSORY NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (the "ACT"). NO SALE OR DISPOSITION MAY BE EFFECTED EXCEPT IN COMPLIANCE WITH
RULE 144 UNDER SAID ACT OR AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL FOR THE PAYEE SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE ACT
OR RECEIPT OF A NO-ACTION LETTER FROM THE SECURITIES AND EXCHANGE COMMISSION.

 
 

SECURED PROMISSORY NOTE    
    

	$	 	October 14, 2005

Denver, Colorado

        FOR VALUE RECEIVED, LOCAL MATTERS, INC., a Delaware corporation
("Company"), hereby promises to pay to                        , an
individual residing at                        
("Payee"), in lawful money of the United States of America and in immediately available funds, the principal sum
of                        
($                        )
(the "Face Amount") together with accrued and
unpaid interest thereon, each due and payable on the dates, in the manner, and subject to the terms and conditions set forth below. 

        This
Promissory Note (the "Note") is one of the Cash Notes (as defined in the Purchase Agreement as defined below) referred to in and is
executed and delivered in connection with that certain Stock Purchase Agreement dated as of even date herewith executed by Company, the Payee and the other Shareholders (as defined therein) (as the
same may from time to time be amended, modified or supplemented or restated, the "Purchase Agreement"). Additional rights and obligations of Payee are
set forth in the Purchase Agreement. All capitalized terms used herein and not otherwise defined herein shall have the respective meanings given to them in the Purchase Agreement. 

        1.    Principal Repayment.    

        1.1    Repayment Upon Qualifying IPO.    The Face Amount, together
with all accrued and unpaid interest thereon, shall be due and payable in full upon the closing of a Qualifying IPO. For purposes of this Note, a "Qualifying IPO" refers to the underwritten initial
public offering pursuant to an effective registration statement under the Securities Act of 1933, as amended (the "Act"), covering the offer and sale of
the Company's common stock, the closing of which occurs on or prior to the one-year anniversary of the date of issuance of this Note (the "Anniversary
Date"). 

        1.2    Repayment Without Qualifying IPO.    In the event that no
Qualifying IPO occurs on or prior to the Anniversary Date, the Face Amount, together with all accrued and unpaid interest thereon, shall be due and payable in installments, as follows: 

        (a)   On October 31 of each calendar year following the Anniversary Date, an amount equal to the Available Cash Amount
shall be paid to the holders of the Cash Notes (the "Cash Note Holders"), pro rata in accordance with the relative Face Amounts of the Cash Notes held
by the respective Cash Note Holders. For purposes of this Note, the Available Cash Amount shall be calculated as set forth in EXHIBIT A attached
hereto. 

        (b)   To the extent not paid in full pursuant to Section 1.2(a) above, the unpaid Face Amount, together with all accrued
and unpaid interest thereon, shall be due and payable in full on April 30, 2015. 

        2.    Interest Rate.    Company further promises to pay interest on
the outstanding Face Amount hereof from the date hereof until payment in full, which interest shall be payable at the rate of six percent (6%) per annum. Interest shall be payable in cash in
accordance with Section 1. Interest shall be calculated on the basis of a 365-day year for the actual number of days elapsed. Upon the occurrence and during the continuance of an
Event of Default, Payee shall have the right by written notice to Company to prospectively increase the interest rate under this Note to be equal to fourteen 

 

(14%)
percent per annum until such Event of Default is cured, but in no event to exceed the maximum rate allowed by law on commercial loans. 

        3.    Place of Payment.    All amounts payable hereunder shall be
payable to Payee at,                        , unless another place of payment shall be specified in writing by Payee. 

        4.    Application of Payments.    Payment on this Note shall be
applied first to accrued interest, and thereafter to the outstanding principal balance hereof. 

        5.    Secured Note.    The full amount of this Note is secured by the
collateral (the "Collateral") identified and described as security therefor in the Security Agreements and the Pledge Agreement, each of even date
herewith (the "Security Agreements") executed by and delivered by Company to Payee. Company shall not, directly or indirectly, create, permit or suffer
to exist, and shall defend the Collateral against and take such other action as is necessary to remove, any Lien (as defined in the Security Agreements) on or in the Collateral, or in any portion
thereof, except as permitted pursuant to the Security Agreements. Payee shall release its lien on the Collateral upon delivery by Company to a restricted account acceptable to Payee, in its reasonable
discretion and over which Payee has a first lien and security interest, of cash collateral in an amount equal to the then outstanding Face Amount and all accrued but unpaid interest on this Note. 

        6.    Set off.    All payments to be made under this Note shall be
subject to setoff under the terms and conditions set forth in Section 7 of the Purchase Agreement. Any such setoffs shall be applied first to accrued interest and thereafter to unpaid
principal. 

        7.    Default.    Each of the following events shall be an
"Event of Default" hereunder: 

        7.1        Company fails to pay timely any of the principal due under this Note within five
(5) days of the date the same becomes due and payable or any accrued interest or other amounts due under this Note within five (5) days of the date the same becomes due and payable; 

        7.2        Company files any petition or action for relief under any bankruptcy,
reorganization, insolvency or moratorium law or any other law for the relief of, or relating to, debtors, now or hereafter in effect, or makes any assignment for the benefit of creditors or takes any
corporate action in furtherance of any of the foregoing; 

        7.3        An involuntary petition is filed against Company (unless such petition is dismissed
or discharged within sixty (60) days) under any bankruptcy statute now or hereafter in effect, or a custodian, receiver, trustee, assignee for the benefit of creditors or other similar official
is appointed to take possession, custody or control of any property of Company; 

        7.4        Company breaches any material representation, warranty or covenant in, or fails to
perform any material obligations under, this Note or the Security Agreements, and such breach or failure is not cured within thirty (30) days following written notice of such breach or failure
delivered by Payee to Company; 

        7.5        Company defaults in the payment of any amounts or in the performance of any
obligations contained in any credit agreement, promissory note, lease or other agreement relating to any indebtedness of Company to any person (other than under this Note) in excess of $250,000, and
any grace period applicable to such default has elapsed; 

        7.6        Judgment for the payment of money in excess of $250,000 (which is not covered by
insurance) is rendered by any court or other governmental body against Company, and Company does not discharge the same or procure a stay of execution thereof within thirty (30) days from the
date of entry thereof, and within such 30-day period (or such longer period during which execution of such judgment shall have been stayed) Company does not appeal therefrom and cause the
execution thereof to be stayed during such appeal while providing such reserve therefor as may be required under generally accepted accounting principles; or 

2

 

        7.7        Company breaches any material representation, warranty or covenant in, or fails to
perform any material obligation under, the Purchase Agreement, and such breach or failure is not cured within thirty (30) days following written notice of such breach or failure delivered by
Payee to Company, and such uncured breach or failure has, or will have, a material adverse effect on the Company and its subsidiaries taken as a whole. 

        Upon
the occurrence of an Event of Default hereunder, all unpaid principal, accrued interest and other amounts owing hereunder shall, at the option of Payee, and, in the case of an Event
of Default pursuant to 7.2 or 7.3 above, automatically, be immediately due, payable and collectible by Payee pursuant to applicable law. 

        8.    Waiver.    Company waives presentment and demand for payment,
notice of dishonor, protest and notice of protest of this Note, and shall pay all costs of collection when incurred, including, without limitation, reasonable attorneys' fees, costs and other expenses 

        The
right to plead any and all statutes of limitations as a defense to any demands hereunder is hereby waived to the full extent permitted by law. 

        Any
term, covenant, agreement or condition of this Note may, only with the written consent of the Company and Payee, be amended or compliance therewith may be waived (either generally or
in a particular instance and either retroactively or prospectively), altered, modified or amended. 

        9.    Governing Law.    This Note shall be governed by, and construed
and enforced in accordance with, the laws of the State of Colorado, excluding conflict of laws principles that would cause the application of laws of any other jurisdiction. 

        10.    Non-Negotiable; Transfer; Successors and
Assigns.    THIS NOTE IS NON-NEGOTIABLE. Payee may not assign or otherwise transfer this Note without the
prior written consent of Company, which shall not be unreasonably withheld or delayed. Subject to the foregoing, the provisions of this Note shall inure to the benefit of and be binding on any
successor to Company and shall extend to any holder hereof. 

	COMPANY	 	 
	
LOCAL MATTERS, INC.

1221 Auraria Parkway

Denver, CO 80202	
 	

 

	 	 	By:                                       
                       
	

 	
 	

Printed
Name:                                        
                      
	

 	
 	

Title:                                        
                      

ACCEPTED AND AGREED AS OF THE DATE FIRST ABOVE WRITTEN:

PAYEE

Signature:                                      
                        

Printed
Name:                                        
                      
 

SIGNATURE PAGE TO CASH NOTE—CASH ELECTION  

3

   EXHIBIT A

AVAILABLE CASH AMOUNT CALCULATION  

        For any calendar year, the Available Cash Amount shall be 50% multiplied by the Net Income of Target Companies, adjusted by the amounts set forth below. All
revenues and expenses determined in accordance with generally accepted accounting principles consistently applied and consistent with the past practices of the Target Companies (as detailed below), as
identified in the Target Companies' historical financial statements attached hereto as Exhibit A-1 (the
"Historical Financials"), will be utilized in arriving at the Available Cash Amount for any calendar year. On or prior to October 15 of any
calendar year in which amounts are payable pursuant to Section 1.2 of the Note to which this EXHIBIT A is attached, the Company will
prepare or cause to be prepared a statement setting forth in reasonable detail the method of calculating the Available Cash Amount for the twelve month period ending September 30 that
immediately precedes each Available Cash Statement, which shall be in accordance with the methodology used in the Target Companies' Historical Financials, and shall deliver or cause to be delivered to
Payee such statement (the "Available Cash Statement"). In the event that revenues are received in respect of products or services that include both the
Target Companies and products or services of the Company, the Company shall calculate, in good faith, the amount of such revenues attributable to the products of the Target Companies, and shall
include such calculation as an attachment to the Available Cash Statement. In the event that Payee objects to Company's calculation of the Available Cash Amount, then, within 30 days after the
delivery to Payee of the Available Cash Statement, Payee shall deliver to Company a notice describing in reasonable detail Payee's objection to Company's calculation (an
"Objection Notice"), accompanied by a statement setting forth the dollar amount determined by Payee to represent the Available Cash Amount or a request
for additional information from Company that Payee may require in order to determine the Available Cash Amount. If Payee does not deliver an Objection Notice to Company within the 30-day
period referred to in the preceding sentence, then the Company's calculation of the Available Cash Amount shall be binding and conclusive on Company and Payee. If Payee delivers an Objection Notice to
Company within the 30-day period referred to in this paragraph, and if Payee and Company are unable to agree upon the calculation of the Available Cash Amount within 60 days after
an Objection Notice is delivered to Company, Payee and Company shall select a nationally recognized accounting firm mutually acceptable to them (the "Neutral
Accountant") to resolve any remaining objections, the cost of which shall be paid by the party whose assertions regarding the amount of the Available Cash Amount differ by the
greater amount from the Available Cash Amount determined by the Neutral Accountant. If Company and Payee are unable to select the Neutral Accountant within 10 days after the commencement of
such selection process, the Neutral Accountant shall be KPMG (or its successor) unless Company and Payee agree to another Neutral Accountant within 15 days of the commencement of the selection
process. Payee and Company shall jointly instruct the Neutral Accountant to resolve any unresolved objections within 30 days after referral of the matter to them, and the determination by the
Neutral Accountant 

A-1

 

of
the Available Cash Amount, which shall be made in accordance with this Exhibit A, shall be conclusive and binding on the Company and Payee
absent fraud or manifest error. 

	Net Income	 	$XX
	

Plus:	
 	

 
	

Taxes paid or accrued	
 	

$XX
	Amortization Expenses	 	$XX
	Depreciation Expenses	 	$XX
	Corporate overhead of the Company allocated to the Target Companies	 	$XX
	

Minus:	
 	

 
	

Capital Expenses (excluding amounts paid for acquisition of domain names and acquisition of companies to acquire domain names)	
 	

$XX
	

Total:	
 	

 
	

Multiplied by 50%	
 	

$XX

A-2

   EXHIBIT A-1  

HISTORICAL FINANCIALS  

	Ordinary Income/Expense	 	 
	 	Income	 	 
	 	 	MAG Sales	 	X
	 	 	OLWM Sales	 	X
	 	 	

	 	Total Income	 	XX
	 	Expense	 	 
	 	 	Affiliate	 	X
	 	 	Affiliate Commissions Tpacket	 	X
	 	 	Bank Service Charges	 	X
	 	 	Charity	 	X
	 	 	Contract Labor	 	X
	 	 	Consulting Expenses	 	X
	 	 	Domain Names	 	X
	 	 	Due & Subscriptions	 	X
	 	 	Advertising	 	X
	 	 	Insurance	 	 
	 	 	 	Dental	 	X
	 	 	 	Health Insurance	 	X
	 	 	 	Other	 	X
	 	 	 	Life Insurance	 	X
	 	 	 	Property	 	X
	 	 	 	Unemployment	 	X
	 	 	 	Work Comp	 	X
	 	 	Internet Fees	 	X
	 	 	Licenses/Content	 	X
	 	 	Local Meals	 	X
	 	 	Miscellaneous	 	X
	 	 	Moving Expense	 	X
	 	 	Office Supplies	 	X
	 	 	Payroll Expenses	 	X
	 	 	Postage and Delivery	 	X
	 	 	Professional Fees	 	 
	 	 	 	Accounting	 	X
	 	 	 	Legal Fees	 	X
	 	 	Rent	 	X
	 	 	Repairs	 	 
	 	 	 	Computer Repairs	 	X
	 	 	 	Building Repairs	 	X
	 	 	 	Other Repairs	 	X
	 	 	Software	 	X
	 	 	Taxes—Federal	 	X
	 	 	Taxes—Property	 	X
	 	 	Taxes—State	 	X
	 	 	Telephone	 	X
	 	 	TPacket Bank Charges	 	X
	 	 	Trade Shows	 	X
	 	 	Travel & Ent	 	 
	 	 	 	Meals	 	X
	 	 	 	Travel & Ent—Other	 	X
	 	 	Travel Packet Info	 	X
	 	 	Use Tax	 	X
	 	 	Utilities	 	X
	 	 	

	 	 	Total Expense	 	XX
	 	 	

	 	Net Ordinary Income (EBITDA)	 	XX
	 	Other Income/Expense	 	 
	 	 	Other Income	 	 
	 	 	 	Equipment Lease	 	X
	 	 	 	Other Income	 	X
	 	 	 	Interest Income (Expense)	 	X
	 	 	

	 	 	Total Other Income	 	XX
	 	 	

	 	Net Other Income	 	XX
	 	 	

	Net Income	 	XX
	 	 	

A-1-1

 
Schedule to Form of Secured Promissory Note  

	Name
 
	 	Note Amount
	 	Date

	Tyler Houston	 	$	3,000,000	 	October 14, 2005
	Shane Brinkerhoff	 	$	3,000,000	 	October 14, 2005
	Dustin Moore	 	$	3,000,000	 	October 14, 2005
	Aaron Bromagem	 	$	500,000	 	October 14, 2005

A-1-2

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Exhibit 10.1  

 
 

INDEMNITY AGREEMENT    
    

        THIS AGREEMENT is made and entered into this            day of            , 2005 by and between
LOCAL
MATTERS, INC., a Delaware corporation (the "Corporation"), and                        ("Agent").

RECITALS  

        WHEREAS, Agent performs a valuable service to the Corporation in [his/her] capacity as
[a/the] [director/[insert executive officer title] of the Corporation; 

        WHEREAS, the stockholders of the Corporation have adopted bylaws (the "Bylaws") providing for the indemnification of the directors,
officers, employees and other agents of the Corporation, including persons serving at the request of the Corporation in such capacities with other corporations or enterprises, as authorized by the
Delaware General Corporation Law, as amended (the "Code"); 

        WHEREAS, the Bylaws and the Code, by their non-exclusive nature, permit contracts between the Corporation and its agents,
officers, employees and other agents with respect to indemnification of such persons; and 

        WHEREAS, in order to induce Agent to serve [a/the] [director/[insert executive officer
title] of the Corporation, the Corporation has determined and agreed to enter into this Agreement with Agent; 

        NOW, THEREFORE, in consideration of Agent's service [a/the] [director/[insert executive
officer title] after the date hereof, the parties hereto agree as follows: 

AGREEMENT  

        1.     Services to the Corporation. Agent will serve, at the will of the Corporation or under separate contract, if any such
contract exists, [a/the] [director/[insert executive officer title] of the Corporation or as a director, officer or other fiduciary of an
affiliate of the Corporation (including any employee benefit plan of the Corporation) faithfully and to the best of [his/her] ability so long as
[he/she] is duly elected and qualified in accordance with the provisions of the Bylaws or other applicable charter documents of the Corporation or such affiliate;  provided, however, that Agent may at
any time and for any reason resign from such position (subject to any contractual obligation that Agent may have
assumed apart from this Agreement) and that the Corporation or any affiliate shall have no obligation under this Agreement to continue Agent in any such position. 

        2.     Indemnity of Agent. The Corporation hereby agrees to hold harmless and indemnify Agent to the fullest extent authorized or
permitted by the provisions of the Bylaws and the Code, as the same may be amended from time to time (but, only to the extent that such amendment permits the Corporation to provide broader
indemnification rights than the Bylaws or the Code permitted prior to adoption of such amendment). 

        3.     Additional Indemnity. In addition to and not in limitation of the indemnification otherwise provided for herein, and
subject only to the exclusions set forth in Section 4 hereof, the Corporation hereby further agrees to hold harmless and indemnify Agent: 

        (a)   against any and all expenses (including attorneys' fees), witness fees, damages, judgments, fines and amounts paid in
settlement and any other amounts that Agent becomes legally obligated to pay because of any claim or claims made against or by [him/her] in connection with any threatened,
pending or completed action, suit or proceeding, whether civil, criminal, arbitrational, administrative or investigative (including an action by or in the right of the Corporation) to which Agent is,
was or at any time becomes a party, or is threatened to be made a party, by reason of 

1

 

the
fact that Agent is, was or at any time becomes a director, officer, employee or other agent of Corporation, or is or was serving or at any time serves at the request of the Corporation as a
director, officer, employee or other agent of another corporation, partnership, joint venture, trust, employee benefit plan or other enterprise; and 

        (b)   otherwise to the fullest extent as may be provided to Agent by the Corporation under the non-exclusivity
provisions of the Code and Section 4.1 of the Bylaws. 

        4.     Limitations on Additional Indemnity. No indemnity pursuant to Section 3 hereof shall be paid by the Corporation: 

        (a)   on account of any claim against Agent for an accounting of profits made from the purchase or sale by Agent of securities
of the Corporation pursuant to the provisions of Section 16(b) of the Securities Exchange Act of 1934 and amendments thereto or similar provisions of any federal, state or local statutory law; 

        (b)   on account of Agent's conduct that is established by a final judgment as knowingly fraudulent or deliberately dishonest
or that constituted willful misconduct; 

        (c)   on account of Agent's conduct that is established by a final judgment as constituting a breach of Agent's duty of loyalty
to the Corporation or resulting in any personal profit or advantage to which Agent was not legally entitled; 

        (d)   for which payment is actually made to Agent under a valid and collectible insurance policy or under a valid and
enforceable indemnity clause, bylaw or agreement, except in respect of any excess beyond payment under such insurance, clause, bylaw or agreement; 

        (e)   if indemnification is not lawful (and, in this respect, both the Corporation and Agent have been advised that the
Securities and Exchange Commission believes that indemnification for liabilities arising
under the federal securities laws is against public policy and is, therefore, unenforceable and that claims for indemnification should be submitted to appropriate courts for adjudication); or 

        (f)    in connection with any proceeding (or part thereof) initiated by Agent, or any proceeding by Agent against the
Corporation or its directors, officers, employees or other agents, unless (i) such indemnification is expressly required to be made by law, (ii) the proceeding was authorized by the
Board of Directors of the Corporation, (iii) such indemnification is provided by the Corporation, in its sole discretion, pursuant to the powers vested in the Corporation under the Code, or
(iv) the proceeding is initiated pursuant to Section 9 hereof. 

        5.     Continuation of Indemnity. All agreements and obligations of the Corporation contained herein shall continue during the
period Agent is a director, officer, employee or other agent of the Corporation (or is or was serving at the request of the Corporation as a director, officer, employee or other agent of another
corporation, partnership, joint venture, trust, employee benefit plan or other enterprise) and shall continue thereafter so long as Agent shall be subject to any possible claim or threatened, pending
or completed action, suit or proceeding, whether civil, criminal, arbitrational, administrative or investigative, by reason of the fact that Agent was serving in the capacity referred to herein. 

        6.     Partial Indemnification. Agent shall be entitled under this Agreement to indemnification by the Corporation for a portion
of the expenses (including attorneys' fees), witness fees, damages, judgments, fines and amounts paid in settlement and any other amounts that Agent becomes legally obligated to pay in connection with
any action, suit or proceeding referred to in Section 3 hereof even if not entitled hereunder to indemnification for the total amount thereof, and the Corporation shall indemnify Agent for the
portion thereof to which Agent is entitled. 

2

 

        7.     Notification and Defense of Claim. Not later than thirty (30) days after Agent becomes aware, by written or other
overt communication, of any pending or threatened litigation, claim or assessment, Agent will, if a claim in respect thereof is to be made against the Corporation under this Agreement, notify the
Corporation of such pending or threatened litigation, claim or assessment; but the omission so to notify the Corporation will not relieve it from any liability which it may have to Agent otherwise
than under this Agreement. With respect to any such pending or threatened litigation, claim or assessment as to which Agent notifies the Corporation of the commencement thereof: 

        (a)   the Corporation will be entitled to participate therein at its own expense; 

        (b)   except as otherwise provided below, the Corporation may, at its option and jointly with any other indemnifying party
similarly notified and electing to assume such defense, assume the defense thereof,
with counsel reasonably satisfactory to Agent. After notice from the Corporation to Agent of its election to assume the defense thereof, the Corporation will not be liable to Agent under this
Agreement for any legal or other expenses subsequently incurred by Agent in connection with the defense thereof except for reasonable costs of investigation or otherwise as provided below. Agent shall
have the right to employ separate counsel in such action, suit or proceeding but the fees and expenses of such counsel incurred after notice from the Corporation of its assumption of the defense
thereof shall be at the expense of Agent unless (i) the employment of counsel by Agent has been authorized by the Corporation, (ii) Agent shall have reasonably concluded, and so notified
the Corporation, that there is an actual conflict of interest between the Corporation and Agent in the conduct of the defense of such action or (iii) the Corporation shall not in fact have
employed counsel to assume the defense of such action, in each of which cases the fees and expenses of Agent's separate counsel shall be at the expense of the Corporation. The Corporation shall not be
entitled to assume the defense of any action, suit or proceeding brought by or on behalf of the Corporation or as to which Agent shall have made the conclusion provided for in clause (ii)
above; and 

        (c)   the Corporation shall not be liable to indemnify Agent under this Agreement for any amounts paid in settlement of any
action or claim effected without its written consent, which shall not be unreasonably withheld. The Corporation shall be permitted to settle any action or claim except that it shall not settle any
action or claim in any manner which would impose any penalty or limitation on Agent without Agent's written consent, which may be given or withheld in Agent's sole discretion. 

        8.     Expenses. The Corporation shall advance, prior to the final disposition of any proceeding, promptly following request
therefor, all expenses incurred by Agent in connection with such proceeding upon receipt of an undertaking by or on behalf of Agent to repay said amounts if it shall be determined ultimately that
Agent is not entitled to be indemnified under the provisions of this Agreement, the Bylaws, the Code or otherwise. 

        9.     Enforcement. Any right to indemnification or advances granted by this Agreement to Agent shall be enforceable by or on
behalf of Agent in any court of competent jurisdiction if (i) the claim for indemnification or advances is denied, in whole or in part, or (ii) no disposition of such claim is made
within ninety (90) days of request therefor. Agent, in such enforcement action, if successful in whole or in part, shall be entitled to be paid also the expense of prosecuting
[his/her] claim. It shall be a defense to any action for which a claim for indemnification is made under Section 3 hereof (other than an action brought to enforce a
claim for expenses pursuant to Section 8 hereof, provided that the required undertaking has been tendered to the Corporation) that Agent is not
entitled to indemnification because of the limitations set forth in Section 4 hereof. Neither the failure of the Corporation (including its Board of Directors or its stockholders) to have made
a determination prior to the commencement of such enforcement action that indemnification of Agent is proper in the circumstances, nor an actual determination by the Corporation (including its Board
of Directors or its 

3

 

stockholders)
that such indemnification is improper shall be a defense to the action or create a presumption that Agent is not entitled to indemnification under this Agreement or otherwise. 

        10.   Subrogation. In the event of payment under this Agreement, the Corporation shall be subrogated to the extent of such
payment to all of the rights of recovery of Agent, who shall execute all documents required and shall do all acts that may be necessary to secure such rights and to enable the Corporation effectively
to bring suit to enforce such rights. 

        11.   Non-Exclusivity of Rights. The rights conferred on Agent by this Agreement shall not be exclusive of any
other right which Agent may have or hereafter acquire under any statute, provision of the Corporation's Certificate of Incorporation or Bylaws, agreement, vote of stockholders or directors, or
otherwise, both as to action in [his/her] official capacity and as to action in another capacity while holding office. 

        12.   Survival of Rights.

        (a)   The rights conferred on Agent by this Agreement shall continue after Agent has ceased to be a director, officer, employee
or other agent of the Corporation or to serve at the request of the Corporation as a director, officer, employee or other agent of another corporation, partnership, joint venture, trust, employee
benefit plan or other enterprise and shall inure to the benefit of Agent's heirs, executors and administrators. 

        (b)   The Corporation shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise)
to all or substantially all of the business or assets of the Corporation, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Corporation would
be required to perform if no such succession had taken place. 

        13.   Separability. Each of the provisions of this Agreement is a separate and distinct agreement and independent of the
others, so that if any provision hereof shall be held to be invalid for any reason, such invalidity or unenforceability shall not affect the validity or enforceability of the other provisions hereof.
Furthermore, if this Agreement shall be invalidated in its entirety on any ground, then the Corporation shall nevertheless indemnify Agent to the fullest extent provided by the Bylaws, the Code or any
other applicable law. 

        14.   Governing Law. This Agreement shall be interpreted and enforced in accordance with the laws of the State of Delaware. 

        15.   Amendment and Termination. No amendment, modification, termination or cancellation of this Agreement shall be effective
unless in writing signed by both parties hereto. 

        16.   Identical Counterparts. This Agreement may be executed in one or more counterparts, each of which shall for all purposes
be deemed to be an original but all of which together shall constitute but one and the same Agreement. Only one such counterpart need be produced to evidence the existence of this Agreement. 

        17.   Headings. The headings of the sections of this Agreement are inserted for convenience only and shall not be deemed to
constitute part of this Agreement or to affect the construction hereof. 

        18.   Notices. All notices, requests, demands and other communications hereunder shall be in writing and shall be deemed to
have been duly given (i) upon delivery if delivered by hand to the party to whom such communication was directed or (ii) upon the third business day after the date on which such
communication was mailed if mailed by certified or registered mail with postage prepaid: 

        (a)   If to Agent, at the address indicated on the signature page hereof. 

4

 

        (b)   If to the Corporation, to: 

Local
Matters, Inc.

1221 Auraria Parkway

Denver, Co 80204 

or
to such other address as may have been furnished to Agent by the Corporation. 

5

 

        IN WITNESS WHEREOF, the parties hereto have executed this Agreement on and as of the day and year first above written. 

	 
	 	 
	 	 

	 	 	LOCAL MATTERS, INC.
	

 	
 	

By:	
 	

 
	 	 	 	 	

	 	 	Title:	 	 
	 	 	 	 	

	

 	
 	
AGENT
	

 	
 	

	

 	
 	

Address:
	

 	
 	

	

 	
 	

6

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INDEMNITY AGREEMENT

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