Document:

EX-10.54

 Exhibit 10.54 

Marchex, Inc. 
 520 Pike Street, Suite 2000 

Seattle, WA 98101 
 April 21, 2016 

Gary Nafus 
 By electronic delivery 

Dear Gary: 
 I am pleased to provide you in this letter (the
“Agreement”) with the AMENDED AND RESTATED terms and conditions of your continued employment by Marchex, Inc. (the “Company”). The principal purpose of this Agreement is to consolidate all of the changes that have been made to
your employment terms since you joined the Company. 
 1. Position. The Company agrees to continue to employ you as its Chief Revenue
Officer, with the powers and duties consistent with such position. You will report to the Chief Executive Officer. 
 2. Nature of
Relationship. Employment at the Company is “at will” and either you or the Company may terminate the employment relationship at any time and for any reason or no reason, subject to the provisions of Section 7 below. 

3. Compensation. During your employment with the Company, you will receive the following compensation: 

 

	 	(a)	Base Compensation. Your base salary (“Base Salary”) will be at the annualized rate of $300,000, less applicable withholdings, paid in accordance with the Company’s normal payroll practices. The
Company will review your Base Salary on an annual basis and such Base Salary may be adjusted at the discretion of the Compensation Committee of the Board (the “Compensation Committee”). 

 

	 	(b)	Target Bonus. You will be eligible to participate in the Company’s Annual Incentive Plan (or its successor) during each fiscal year you are employed by the Company. The target bonus amount (the “Target
Bonus”) and the specific objectives for achieving your Target Bonus will be agreed upon with the Compensation Committee on or before March 31st of the applicable fiscal year. Unless otherwise determined by the Compensation Committee, your
Target Bonus will be apportioned on the basis of Company fiscal quarters, and the achievement will be determined following the completion of each fiscal quarter. The Target Bonus to the extent earned will be paid within seventy (70) days after
the end of each fiscal quarter. 

  

	 	(c)	 Change of Control. In the event of a Change of Control and provided that you remain employed by the
Company until the date of the Change of Control, the Company shall, within thirty (30) days of such Change of Control or such later date as is required by Section 409A of the Code, make a lump sum cash payment to you equal to one
(1) times the product of your Annual Salary plus the greater of the aggregate amount of any bonuses paid to or earned by you with respect to the Company’s immediately prior fiscal year or your pro rata portion of the aggregate bonus pool
under the Company’s Annual Incentive Plan for the then current fiscal year assuming achievement under such Plan of 

	 	
the maximum performance targets for such fiscal year. In the event of a Change of Control, one hundred percent (100%) of all performance and time based options, restricted stock and
restricted stock units not already vested, shall become immediately vested upon the occurrence of both (a) a Change of Control, (b) followed by the first to occur of (i) a termination of your employment by the Company or any successor
thereto without Cause, (ii) a material diminution in the nature or scope of your duties, responsibilities, authorities, powers or functions that constitutes Good Reason, or (iii) the twelve month anniversary of the occurrence of the Change
of Control provided that you then remain an employee of the Company or its successor. 

 4. Benefits. During your
employment with the Company, you will continue to be eligible for the Company’s general employee benefit programs (subject to any required employee contributions) which include paid-time off, medical, dental and vision insurance, life
insurance, short-term disability and long-term disability insurance and participation in the Company’s 401(k) retirement savings program and the Company’s employee stock purchase plan). Unused vacation may be carried over each year during
your employment or paid to you upon termination consistent with Company policy and limitations. Notwithstanding the foregoing, the Company retains the right to change, add or cease any particular benefit for its employees. 

5. Confidentiality. The Company considers the protection of its confidential information, proprietary materials and goodwill to be very
important. Therefore, as a condition of your employment, you and the Company became parties to a Confidentiality, Assignment of Inventions and Employment-At-Will Agreement for Consultants and Employees as of the commencement of your employment, and
such agreement remains in full force and effect. 
 6. Indemnity. As an executive of the Company, the Company provided you with an
Indemnity Agreement that you and the Company entered into as of the commencement of your employment, and such agreement remains in full force and effect. 

7. Termination and Eligibility for Severance. You will be eligible to receive the applicable termination and severance benefits set
forth in this Section 7, unless your employment is terminated by the Company for Cause or you resign from employment other than for Good Reason. 
  

	 	(a)	In the event the Company terminates your employment for any reason other than Cause (which shall not include termination of your employment due to your death or Disability), or you terminate your employment for Good
Reason in accordance with Section 7(d), and subject to your execution of a comprehensive release of claims as set forth in Section 7(c) below, you (or your estate or your successors and assigns, as the case may be) will be eligible to
receive the following severance and related post-termination benefits: 

  

	 	(i)	a lump sum payment equal to one (1) times your then Annual Salary payable at the time of termination (“Separation Date”), unless the termination of your employment occurs within twelve (12) months
following a Change of Control, in which case you will receive the benefits under Section 3(c) above; 

  

	 	(ii)	 subject to Section 7(e)(vi) and provided that you are eligible for and elect continuation coverage under the
Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), payment by the Company of its share of medical, dental and vision insurance premiums under COBRA for you and your dependents (“Health Benefits”)
for the twelve (12) month period following the Separation Date or such lesser period as you remain eligible under COBRA, unless the termination of your employment occurs within twelve months following a Change of Control, in which case you will
receive the Health Benefits for eighteen (18) months; provided, that if immediately prior to the termination of your employment you were required to contribute towards the cost

	 	
of premiums as a condition of receiving such insurance, you shall be required to continue contributing towards the cost of such premiums under the same terms and conditions as applied to you and
your dependents immediately prior to the termination of your employment in order to receive such continued insurance coverage; 

  

	 	(iv)	subject to Section 8, any allowable unreimbursed expenses, any accrued but unused vacation pay, and any earned but unpaid bonus amounts owing to you at the time of termination; and 

 

	 	(v)	an additional one (1) year of time-based vesting on any unvested options, restricted stock and restricted stock units as of the Separation Date; provided that if your termination of employment under this
Section 7(a) occurs upon or following a Change of Control, then Section 3(c) above shall apply. For the purposes hereof, any equity with performance based vesting will not be accelerated in accordance with the above additional vesting
parameters to the extent the performance metrics have not been achieved as of the date of termination. 

  

	 	(b)	In the event that your employment terminates due to your death or Disability, and subject to execution of a comprehensive release of claims as set forth in Section 7(c) below by you or your legal representative,
you (or your estate or your successors and assigns, as the case may be) will be eligible to receive the following severance and related post-termination benefits: 

 

	 	(i)	subject to Section 7(e)(ii) and provided that you are eligible for and elect continuation coverage under COBRA, payment by the Company of its share of medical, dental and vision insurance premiums under COBRA for
you and your dependents for the eighteen (18) month period following your Separation Date or such lesser period as you remain eligible under COBRA; provided, that if immediately prior to the date of your death or Disability you were required to
contribute towards the cost of premiums as a condition of receiving such insurance, you shall be required to continue contributing towards the cost of such premiums under the same terms and conditions as applied to you and your dependents
immediately prior to the date of your death or Disability in order to receive such continued insurance coverage; and 

  

	 	(ii)	One hundred percent (100%) of all performance and time-based unvested options, restricted stock and restricted stock units will immediately vest upon your Separation Date and will be delivered to you or your
estate, as applicable. 

  

	 	(c)	The Company’s provision of the benefits described in Section 7(a) and 7(b) above will be contingent upon execution by you or your legal representative of a release of all claims in favor of the Company in a
form to be provided by the Company (the “Release Agreement”), which Release Agreement must be delivered to the Company within twenty-one (21) days following the termination of your employment. The lump sum payment described in
Section 7(a) above will be made on the eighth (8th) day following the Company’s receipt of the executed Release Agreement and the expiration of any revocation period described in
the Release Agreement. The Company will have no further obligation to you in the event your employment with the Company terminates at any time, other than those obligations specifically set forth in this Section 7. 

 

	 	(d)	 The Company may terminate your employment at any time with or without Cause by written notice to you specifying
the date of termination. You may terminate your employment with or without Good Reason by providing written notice to the Company at least thirty (30) days prior to the date of termination, specifying the basis for your claim of Good Reason. If
you seek to terminate your employment for Good Reason, the 

	 	
Company will then have ten (10) days following its receipt of such written notice to cure the circumstances giving rise to Good Reason. Upon a termination of your employment for Cause by the
Company or upon your resignation from employment without Good Reason, you will be entitled to accrued but unpaid base salary and benefits through the date of termination only and shall not be entitled to any of the termination and severance benefits
described in Sections 7(a) or 7(b). 

  

	 	(e)	Definitions and Certain Conditions: 

 (i) “Annual Salary” shall mean
your annualized base salary in effect immediately prior to the date of the Change of Control. 
 (ii) “Cause” shall mean
that the Company’s Board has reasonably determined in good faith that any one or more of the following has occurred: 
  

	 	(i)	You shall have been convicted of, or shall have pleaded guilty or nolo contendere to, any felony; 

  

	 	(ii)	You shall have willfully failed or refused to carry out the reasonable and lawful instructions of the Board (other than as a result of illness or Disability) concerning duties or actions consistent with your then
current position in a timely manner and otherwise in a manner reasonable acceptable to the Board and such failure or refusal shall have continued for a period of ten (10) days following written notice from the Board describing such failure or
refusal in reasonable detail; 

  

	 	(iii)	You shall have breached any material provision of your Confidentiality Agreement; or 

  

	 	(iv)	You shall have committed any material fraud, embezzlement, misappropriation of funds, breach of fiduciary duty or other act of dishonesty against the Company. 

(iii) “Change of Control” shall mean the occurrence of any of the following events: 

 

	 	(i)	 an acquisition (other than directly from the Company) of any voting securities of the Company (the “Voting
Securities”) by any “Person” or “Group” (as such terms are used for the purposes of Section 13(d) or 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) immediately after which such
Person or Group has Beneficial Ownership (within the meaning of Rule l3d-3 promulgated under the Exchange Act) of fifty percent (50%) or more of the combined voting power of the Company’s then-outstanding Voting Securities; provided,
however, in determining whether or not a Change of Control has occurred, Voting Securities which are acquired in a “Non-Control Acquisition” (as hereinafter defined) shall not constitute an acquisition which would constitute a Change of
Control. A “Non-Control Acquisition” shall mean an acquisition by (i) any employee benefit plan (or related trust) sponsored or maintained by the Company or any affiliate of the Company, (ii) the Company, (iii) any Person in
connection with a Non-Control Transaction (as hereinafter defined), or (iv) any holder of the Company’s Class A Common Stock as of the date hereof; 

	 	(ii)	individuals who, as of the date hereof, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a
director subsequent to the date hereof whose election, or nomination for election by the Company’s shareholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though
such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of
directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; or 

  

	 	(iii)	the consummation of: 

  

	 	(a)	A merger, consolidation or reorganization with or into the Company or in which securities of the Company are issued, unless such merger, consolidation or reorganization is a “Non-Control Transaction”. A
“Non-Control Transaction” is a merger, consolidation or reorganization with or into the Company or in which securities of the Company are issued where: 

  

	 	A.	the shareholders of the Company immediately before such merger, consolidation, or reorganization, own, directly or indirectly, at least fifty-one percent (51%) of the combined voting power of the outstanding voting
securities of the corporation resulting from such merger, consolidation or reorganization (the “Surviving Corporation”) in substantially the same proportion as their ownership of the Voting Securities immediately before such merger,
consolidation or reorganization, 

  

	 	B.	the individuals who were members of the Incumbent Board immediately prior to the execution of the agreement providing for such merger, consolidation or reorganization constitute at least a majority of the members of the
board of directors of the Surviving Corporation or a corporation owning directly or indirectly fifty-one percent (51%) or more of the Voting Securities of the Surviving Corporation, and 

 

	 	C.	no Person or Group, other than (i) the Company, (ii) any subsidiary of the Company, (iii) any employee benefit plan (or any trust forming a part thereof) maintained by the Company immediately prior to
such merger, consolidation, or reorganization, or (iv) any holder of the Company’s Class A Common Stock as of the date hereof, owns twenty percent (20%) or more of the combined voting power of the Surviving Corporation’s
then-outstanding voting securities; or 

  

	 	(b)	a complete liquidation or dissolution of the Company; or 

  

	 	(c)	the sale of disposition of all or substantially all of the assets of the Company to any Person. 

Notwithstanding the foregoing, a Change of Control shall not be deemed to occur solely because any Person (the “Subject Person”)
acquired Beneficial Ownership of more than the permitted amount of the outstanding Voting Securities as a result of the acquisition of Voting Securities by the Company which, by reducing the number of Voting Securities outstanding, increases the
proportional number of 

 
shares Beneficially Owned by the Subject Person, provided that if a Change of Control would occur (but for the operation of this sentence) and after such acquisition of Voting Securities by the
Company, the Subject Person becomes the Beneficial Owner of any additional Voting Securities, then a Change of Control shall occur. 
 (iv)
“Disability” means an illness (mental or physical) or accident, which renders you incapable, after reasonable accommodation, of performing your duties and such condition is determined by the Chief Executive Officer to be of a
long-term nature.. 
 (v) “Good Reason” shall exist if, without your express written consent, the following occurs: 

 

	 	(i)	a material diminution in the nature or scope of your duties, responsibilities, authority, powers or functions as compared to your duties, responsibilities, authority, powers or functions immediately prior to the Change
of Control; 

  

	 	(ii)	if you are no longer (a) an executive officer of a publicly-traded company, or (b) a Section 16 reporting person under the 1934 Act; 

 

	 	(iii)	a reduction in your Annual Salary; or 

  

	 	(iv)	the relocation of the office at which you are to perform your duties and responsibilities hereunder to a location more than sixty (60) miles from Seattle, Washington. 

(vi) Notwithstanding the provisions of Sections 7(a)(ii) and 7(b)(i), as applicable, if the Company determines, in its sole discretion, that
the payment of such premium subsidies under COBRA would result in a violation of the nondiscrimination rules of Section 105(h)(2) of the Internal Revenue Code of 1986, as amended (the “Code”), or any statute or regulation of similar
effect (including but not limited to the 2010 Patient Protection and Affordable Care Act, as amended by the 2010 Health Care and Education Reconciliation Act), then in lieu of providing such COBRA premium subsidies, the Company, in its sole
discretion, may elect to instead pay to you on the first day of each month of the applicable period, a fully taxable cash payment equal to the COBRA premium subsidy that would otherwise be paid for that month, subject to applicable tax withholdings
if any, for the remainder of the applicable period. In such case, you may, but are not obligated to, use such taxable cash payment toward the cost of COBRA premiums. 

8. Section 409A of the Code. The parties intend that this Agreement (and all payments and other benefits provided under this
Agreement) be exempt from the requirements of Section 409A of the Code and the regulations and ruling issued thereunder (collectively “Section 409A”), to the maximum extent possible, whether pursuant to the short-term deferral
exception described in Treasury Regulation Section 1.409A-1(b)(4), the involuntary separation pay plan exception described in Treasury Regulation Section 1.409A-1(b)(9)(iii), or otherwise. To the extent Section 409A is applicable to
such payments, the parties intend that this Agreement (and such payments and benefits) comply with the deferral, payout and other limitations and restrictions imposed under Section 409A any other provision of this Agreement to the contrary,
this Agreement shall be interpreted, operated and administered in a manner consistent with such intentions. Without limiting the generality of the foregoing, and notwithstanding any other provision of this Agreement to the contrary: 

 

	 	(a)	 No amount payable pursuant to this Agreement on account of your termination of employment with the Company which
constitutes a “deferral of compensation” within the meaning of Section 409A shall be paid unless and until you have incurred a “separation from service” within the meaning of Section 409A. Furthermore, to the extent
that you are a “specified employee” within the meaning of Section 409A (determined using the identification methodology selected by Company from time to time, or if none, the default methodology) as of the date of your separation from
service, no amount that 

	 	
constitutes a deferral of compensation which is payable on account of your separation from service shall paid to you before the date (the “Delayed Payment Date”) which is first day of
the seventh month after the date of your separation from service or, if earlier, the date of your death following such separation from service. All such amounts that would, but for this Section 8(a), become payable prior to the Delayed Payment
Date will be accumulated and paid in a lump sum on the Delayed Payment Date. Thereafter, any payments that remain outstanding as of the day immediately following the Delayed Payment Date shall be paid without delay over the time period originally
scheduled, in accordance with the terms of this Agreement. 

  

	 	(b)	It is the intent of the parties to this Agreement that any right you have to receive installment payments hereunder shall, for all purposes of Section 409A, be treated as a right to a series of separate payments.

  

	 	(c)	With regard to any provision under this Agreement for reimbursement of expenses or in-kind benefits, except for any expense, reimbursement or in-kind benefit provided pursuant to this Agreement that does not constitute
a “deferral of compensation,” within the meaning of Section 409A, (i) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit, (ii) the amount of expenses eligible
for reimbursement, or in-kind benefits provided, during any taxable year shall not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year, provided that the foregoing clause (ii) shall not
be deemed to be violated with regard to expenses reimbursed under any arrangement covered by Section 105(b) of the Code solely because such expenses are subject to a limit related to the period the arrangement is in effect, and (iii) such
payments shall be made on or before the last day of your taxable year following the taxable year in which the expense occurred. 

  

	 	(d)	The Company intends that income provided to you pursuant to this Agreement will not be subject to taxation under Section 409A. However, the Company does not guarantee any particular tax effect for income provided
to you pursuant to this Agreement. In any event, except for the Company’s responsibility to withhold applicable income and employment taxes from compensation paid or provided to you, the Company shall not be responsible for the payment of any
taxes, penalties, interest, costs, fees, including attorneys’ fees, or other liability incurred by you in connection with compensation paid or provided to you pursuant to this Agreement. 

9. No Mitigation. The parties hereto agree that you will not be required to mitigate damages in respect of any termination benefit or
payment due under this Agreement, nor will any such benefit or payment be offset by any future compensation or income received by you from any other source. 

10. Provision of Benefits. Should the continuation of any benefits to be provided to you following the termination of your employment
hereunder be unavailable under the Company’s benefit plans for any reason, the Company will pay for you to receive such benefits under substantially similar plans from similar third party providers. 

11. Other Agreements. You represent and warrant to the Company that you are not bound by any agreement with a previous employer or
other party which you would in any way violate by performing your duties as an employee of the Company. You further represent and warrant that, in the performance of your duties with the Company, you will not utilize or disclose any confidential
information in breach of an agreement with a previous employer or any other party. 
 12. Assignment. This Agreement is personal in
nature and neither of the parties hereto will, without the written consent of the other, assign or otherwise transfer this Agreement or its obligations, duties and rights under this Agreement; provided, however, that in the event of the merger,
consolidation, 

 
transfer or sale of all or substantially all of the assets of the Company, this Agreement will, subject to the provisions hereof, be binding upon and inure to the benefit of such successor and
such successor will discharge and perform all of the promises, covenants, duties and obligations of the Company hereunder. 
 13.
General. 
  

	 	(a)	Entire Agreement; Modification. This Agreement contains the entire agreement of the parties relating to the subject matter hereof, and the parties hereto have made no agreements, representations or warranties
relating to the subject matter of this Agreement that are not set forth otherwise herein. This Agreement supersedes any and all prior agreements, written or oral, between you and the Company regarding the subject matter hereof including, but not
limited to, any employment agreements or offer letters. No modification of this Agreement will be valid unless made in writing and signed by the parties hereto. 

  

	 	(b)	Severable Provisions. This provisions of this Agreement are severable and if any one or more provisions may be determined to be illegal or otherwise unenforceable, in whole or in part, the remaining provisions of
this Agreement will nevertheless be binding and enforceable. Notwithstanding the foregoing, if there are any conflicts between the terms of this Agreement and the terms of any Company equity incentive plan document referred to in this Agreement,
then the terms of this Agreement will govern and control. Except as modified hereby, this Agreement will remain unmodified and in full force and effect. 

  

	 	(c)	Governing Law. This Agreement will be governed by and interpreted in accordance with the laws of the State of Washington, without regard to the conflict of laws provisions hereof. 

 

	 	(d)	Arbitration. 

  

	 	(i)	Any controversy, dispute or claim arising out of or relating to this Agreement or the breach hereof which cannot be settled by mutual agreement will be finally settled by binding arbitration in Seattle, Washington,
under the jurisdiction of JAMS, before a single arbitrator appointed in accordance with the employment arbitration rules of JAMS, modified only as herein expressly provided. The arbitrator may enter a default decision against any party who fails to
participate in the arbitration proceedings. 

  

	 	(ii)	The decision of the arbitrator on the points in dispute will be final, non-appealable and binding, and judgment on the award may be entered in any court having jurisdiction thereof. 

 

	 	(iii)	Except as otherwise provided in this Agreement, all the fees and expenses of the arbitrator will be borne by the Company, and each party will bear the fees and expenses of its own attorney. 

 

	 	(iv)	The parties agree that this Section 13(d) has been included to rapidly and inexpensively resolve any disputes between them with respect to this Agreement, and that this Section 13(d) will be grounds for
dismissal of any court action commenced by either party with respect to this Agreement, other than post-arbitration actions seeking to enforce an arbitration award or actions seeking an injunction or temporary restraining order. In the event that
any court determines that this arbitration procedure is not binding, or otherwise allows any litigation regarding a dispute, claim, or controversy covered by this Agreement to proceed, the parties hereto hereby waive any and all right to a trial by
jury in or with respect to such litigation. 

	 	(v)	The parties will keep confidential, and will not disclose to any person, except as may be required by law, the existence of any controversy hereunder, the referral of any such controversy to arbitration or the status or
resolution thereof. 

  

	 	(e)	Notices. All notices will be in writing and will be delivered personally (including by courier), sent by facsimile transmission (with appropriate documented receipt thereof), by overnight receipted courier
service (such as UPS or Federal Express) or sent by certified, registered or express mail, postage prepaid, to the Company at the following address: General Counsel, Marchex, Inc., 520 Pike Street, Suite 2000, Seattle WA 98101, and to you at the
address in your then-current employment records. Any such notice will be deemed given when so delivered personally, or if sent by facsimile transmission, when transmitted, or, if by certified, registered or express mail, postage prepaid mailed,
forty-eight (48) hours after the date of deposit in the mail. Any party may, by notice given in accordance with this paragraph to the other party, designate another address or person for receipt of notices hereunder. 

 

	 	(f)	Counterparts. This Agreement may be executed in more than one counterpart, each of which will be deemed to be an original, and all such counterparts together will constitute one and the same instrument.

  

	 	(g)	Survival. All terms of this Agreement, which by their nature extend beyond its termination, will remain in effect until fulfilled and apply to the parties’ respective successors and assigns.

 14. Withholding. The Company may withhold from any payment that it is required to make under this Agreement amounts
sufficient to satisfy applicable withholding requirements under any federal, state or local law. 
 15. Employment. This Agreement
shall not be construed as creating an express or implied contract of employment and, except as otherwise agreed to in writing between you and the Company, you shall not have any right to be retained in the employ of the Company. 

16. Acceptance. You may accept this Agreement by confirming your acceptance in writing. Please send your countersignature to this
Agreement to the Company, or via e-mail to Ethan Caldwell, which execution will evidence your agreement with the terms and conditions set forth herein. 
  

							
	Very truly yours,	 		 	
			
	 /s/ Peter Christothoulou
	 		 	
	Name:	 	Peter Christothoulou	 		 	
	Title:	 	Chief Executive Officer	 		 	
			
	Accepted by:	 		 	
			
	 /s/ Gary Nafus
	 		 	 April 21, 2016

	Name:	 	Gary Nafus	 		 	DateEX-10.55

 Exhibit 10.55 

MARCHEX, INC. 

Separation Agreement 

Russell C. Horowitz (referred to as “Executive”) and Marchex, Inc., on behalf of itself and its successors, subsidiaries,
affiliates, and related companies (referred to collectively as the “Company” or “Marchex”), enter into this Separation Agreement and General Release (the “Agreement”) effective as of the eighth
(8th) day following the date Executive signs this Agreement if not revoked in accordance with the last paragraph hereof (the “Effective Date”). 

WHEREAS, on March 23, 2016, Executive notified the Company of his decision not to stand for reelection to the Board of Directors of the
Company (the “Board”), at the Annual Meeting of Stockholders on May 12, 2016 (the “Separation Date”).

WHEREAS, Executive is an employee of the Company and presently serves as the Company’s Executive Director; 

WHEREAS, the Company and Executive desire to set forth the terms and conditions of Executive’s proposed separation from employment with
the Company; and 
 WHEREAS, Executive has agreed to provide the Company with transition services and to continue to be available to advise
and consult as requested by the Company. 
 NOW, THEREFORE, in consideration of the premises and of the mutual covenants and agreements
herein contained, the Company and Executive agree as follows: 
 1. Executive’s Separation. 

(a) Executive agrees to remain employed as the Company’s Executive Director until the Separation Date. On the Separation Date,
Executive’s employment with the Company shall terminate. 
 (b) From the Separation Date through the end of the Consulting Period
(as defined below), Executive shall serve as a non-employee consultant to the Company on the terms set forth in this Agreement. 
 2.
Compensation through Separation Date. If Executive remains employed through the Separation Date, Executive shall receive his current compensation and benefits through the Separation Date. 

3. Separation from Service. In connection with Executive’s separation from service on the Separation Date and, with respect
to any of the following compensation and benefits to which Executive is not currently entitled or that are not required by law: 

(a) On the Separation Date, Executive’s participation in any Company employee benefit plans or programs (including without
limitation any matching contributions under the Company’s 401(k) plan, life insurance premium programs and other medical programs and any car allowance or other personal benefits and perquisites) shall cease, except as otherwise expressly
provided in this Agreement or in the applicable Company plan. For the avoidance of doubt, Executive shall not be eligible for any severance benefits other than set forth herein. 

(b) So long as Executive timely elects health benefits continuation pursuant to Section 4980B of the Internal Revenue Code of 1986,
as amended (the “Code”) and the regulations thereunder 

  
 1 

 
(“COBRA”), Executive shall be entitled to receive payment by the Company of Executive’s applicable premiums (the “COBRA Premium Subsidy”) for such
continuation coverage under COBRA (payable as and when such payments become due) during the period (the “COBRA Payment Period”) commencing on the Separation Date and ending on the earliest to occur of (i) the eighteen
(18) month anniversary of the Separation Date, (ii) the expiration of Executive’s eligibility for benefits under COBRA, and (iii) the date on which Executive and his or her covered dependents, become covered by health insurance
coverage through another source. Notwithstanding the foregoing, if the Company determines, in its sole discretion, that the reimbursement of such COBRA Premium Subsidy would result in a violation of the nondiscrimination rules of
Section 105(h)(2) of the Internal Revenue Code or any statute or regulation of similar effect (including but not limited to the 2010 Patient Protection and Affordable Care Act, as amended by the 2010 Health Care and Education Reconciliation
Act), then in lieu of providing such COBRA Premium Subsidy, the Company, in its sole discretion, may elect to instead pay to Executive on the first day of each month of the COBRA Payment Period, a fully taxable cash payment equal to the COBRA
Premium Subsidy for that month, grossed up for applicable tax withholdings if any, for the remainder of the COBRA Payment Period. Executive may, but are not obligated to, use such taxable cash payment toward the cost of COBRA premiums. 

(c) Attached hereto as Exhibit A is a list of Executive’s stock options and shares of restricted stock outstanding on
the date hereof (together, the “Existing Equity Awards”). Executive represents that Exhibit A is a correct and complete list of his Existing Equity Awards on the date of this Agreement. No changes shall be made to the
terms of the Existing Equity Awards set forth in the applicable award agreement except as follows: 
 (i) Effective as of the
Separation Date, vesting shall accelerate in full on such Existing Equity Awards and the Company will extend the period during which Executive may exercise any vested stock options through the 10 year anniversary of the respective grant date.
Executive understands that the stock options subject to this extended exercise period shall cease to be treated for tax purposes as incentive stock options as of the date hereof. 

(ii) Effective as of the Separation Date, the Executive shall be granted 100,000 shares of the Company’s Class B Common Stock
pursuant to the Company’s 2012 Stock Incentive Plan at a purchase price of $0.01 per share. Subject to Executive’s continued performance of consulting services during the Consulting Period, such restricted stock shall vest in equal amounts
on a quarterly basis over the Consulting Period and according to such other conditions as are set forth in the restricted stock agreement for such shares and the Plan. 

4. Compensation during Consulting Period. For consulting services rendered by Executive during the Consulting Period, the
Company shall pay Executive an annualized amount of $255,000 per year, payable in twelve (12) monthly installments in advance through May 12, 2017. 

5. Consulting Agreement. 

(a) From the Separation Date through the earlier of (i) May 12, 2017 or (ii) the Company’s termination of the Consulting
Period pursuant to clause (d) below (such applicable period, the “Consulting Period”), Executive will provide consulting and advisory services from time to time as may be reasonably requested by the Company’s Chief
Executive Officer, provided that the Company will take into consideration Executive’s other business and personal commitments that may arise during the Consulting Period. Such consulting services may be conducted in person, by phone or via
alternate communications. Such matters are expected to consist of: 
  

	 	•	 	Participation in the ongoing review of the Company’s strategy; 

  
 2 

	 	•	 	Reviewing and meeting with potential new director candidates; 

  

	 	•	 	Participating in the mentoring of the executive team; and 

  

	 	•	 	Assistance and cooperation with the efficient transfer to the Company and its ongoing management team of Executive’s institutional knowledge and understanding and relationships with former, current and prospective
partners, agencies and customers. 

 (b) During the Consulting Period, Executive shall not be an employee of the Company
and shall not be entitled to receive any fringe benefits, perquisites or other benefits from the Company or to participate in any employee benefit plans, programs or policies of the Company, except as expressly provided otherwise in this Agreement.

 (c) During the Consulting Period, the Company shall pay or reimburse Executive for reasonable out-of-pocket expenses incurred in
connection with Executive’s performance of the Consulting Services, upon presentation of written documentation thereof in accordance with Company expense reimbursement policies. 

(d) Only in the event of Executive’s material breach of this Agreement, the Company may terminate the Consulting Period if Executive
has not substantially cured such breach within 30 days after the Company provides written notice to Executive of such breach, and upon such termination, the Company shall have no further obligations hereunder. 

6. No Other Compensation Owed. Executive acknowledges and agrees that except for the compensation and benefits provided above
and accrued but unpaid amounts as of the Separation Date, no other compensation, payments, wages, salary, bonuses, commissions, benefits, severance, equity, or remuneration of any kind whatsoever are owing to Executive as a result of his separation
from the Company. 
 7. Release of Claims. 

(a) In exchange for the promises contained in this Agreement and to the extent permitted by law, Executive hereby waives, releases and
forever discharges, and agrees that Executive will not in any manner institute, prosecute or pursue, any and all complaints, claims, charges, liabilities, claims for relief, demands, suits, actions or causes of action, whether in law or in equity,
know or unknown, which Executive asserts or could assert, at common law, under any express or implied contract, arising in tort or under any statute, rule, regulation, order or law, whether federal, state, or local, or on any grounds whatsoever,
including without limitation, claims under the Executive Employment Agreement with the Company dated January 17, 2003 (the “Employment Agreement”), Title VII of the Civil Rights Act of 1964, Washington Law Against
Discrimination in Employment, the Americans with Disabilities Act, the Age Discrimination in Employment Act of 1967, as amended “ADEA”), Washington Age Discrimination Law, the Family and Medical Leave Act of 1993, and the Executive
Retirement Income Security Act of 1974, against the Company and any of its or their current or former, directors, officers, agents, employees, subsidiaries, successors, and assigns (collectively referred to as “Released Parties”)
with respect to any event, matter, claim, damage or injury arising out of or relating to Executive’s relationship with the Company, the termination of such relationship, or the Employment Agreement arising up to the date and time of signing of
this Agreement by Executive. 
 Notwithstanding the foregoing, this release does not terminate Executive’s rights (a) set forth in
this Agreement, (b) with respect to his Existing Equity Awards, (c) Executive’s rights to be indemnified by the Company or any of its subsidiaries under any agreement with the Company or any of its

  
 3 

 
subsidiaries, the Company’s certificate of incorporation or bylaws, or under applicable law, which indemnity rights shall extend to Executive’s consulting services hereunder, or
(d) resulting from any breaches of this Agreement. 
 This release also does not extend to those rights which as a matter of law cannot
be waived, including, but not limited to, unwaivable rights. 
 (b) In exchange for the promises contained in this Agreement and to the
extent permitted by law, the Company hereby waives, releases and forever discharges, and agrees that the Company will not in any manner institute, prosecute or pursue, any and all complaints, claims, charges, liabilities, claims for relief, demands,
suits, actions or causes of action, whether in law or in equity, known or unknown, which the Company asserts or could assert, at common law, under any express or implied contract, arising in tort or under any statute, rule, regulation, order or law,
whether federal, state, or local, or on any grounds whatsoever against the Executive with respect to any event, matter, claim, damage or injury arising out of or relating to Executive’s relationship with the Company, the termination of such
relationship, or the Employment Agreement arising up to the date and time of signing of this Agreement by the Company. 
 Notwithstanding
the foregoing, any claim arising from any of the following is excepted from the scope of this release: (i) any felony or crime involving Executive’s service to the Company; (ii) any fraud, embezzlement, or breach of fiduciary duty
against the Company; and (iii) any breach of any material provision of the Confidentiality Agreement referred in Paragraph 9 below. 

This release also does not extend to those rights which as a matter of law cannot be waived, including, but not limited to, unwaivable rights.

 8. Acknowledgement of Confidentiality Agreement. Executive acknowledges that (a) the Employment Agreement adopted by
reference the Confidentiality, Assignment of Inventions and Employment-At-Will Agreement for Consultants and Employees (the “Confidentiality Agreement”), which such Confidentiality Agreement shall survive Executive’s separation
from the Company, (b) is bound by the commitments and obligations set forth in the Confidentiality Agreement, and (c) Executive reaffirms such covenants. The Company acknowledges that the Confidentiality Agreement shall apply for twelve
(12) months from the Separation Date. 
 9. Return of Property. Executive affirms that on or prior to the Separation
Date, Executive will return all of the Company’s, documents, and/or any confidential or proprietary information in Executive’s possession or control, including, without limitation, memoranda, books, papers, letters, in any way relating to
the Company’s business and affairs, provided, however, that Executive shall be entitled to keep, and shall not be required to return to the Company, Executive’s Company-provided computers, phones, IT equipment, and any associated hardware.
The Company agrees and acknowledges that during the twelve-month period following the Separation Date, the Company shall forward to Executive’s designated personal email account all personal emails of Executive. 

10. No Admission of Liability. By entering into this Agreement, the Company and all Released Parties do not admit any liability
whatsoever to Executive or to any other person arising out of any claims heretofore or hereafter asserted by Executive. 
 11.
Agreement to Cooperate With the Company. Executive agrees to assist the Company in any formal or informal legal matters in which Executive is named as a party or has knowledge relevant to the matter. Executive acknowledges and agrees that
such assistance may include, but will not be limited to, providing background information regarding any matter on which Executive previously worked, aiding in the drafting of declarations, executing declarations or similar documents, testifying or
otherwise 

  
 4 

 
appearing at investigation interviews, depositions, arbitrations or court hearings and preparing for the above-described or similar activities. Executive understands that Executive will receive
no additional pay for Executive’s assistance beyond that provided in this Agreement. 
 12. Tax Withholding. The Company
may withhold from any amounts payable under this Agreement such federal, state, local or foreign taxes as shall be required to be withheld pursuant to any applicable law or regulation. 

13. Severability. In the event any one or more of the provisions contained in this Agreement shall, for any reason, be held to
be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect the other provisions of this Agreement, and this Agreement shall be construed as if such invalid, illegal or unenforceable
provision had never been contained herein. If, moreover, any one or more of the provisions contained in this Agreement shall for any reason be held to be excessively broad as to duration, geographical scope, activity, duration, or subject, it shall
be construed by limiting and reducing it to the extent necessary to be valid and enforceable under the applicable law as it shall then appear while giving effect, to the greatest degree possible, to the original intent of such provision. 

14. Entire Agreement. This Agreement, together with the Confidentiality Agreement, constitutes the complete understanding
between Executive and the Company and supersedes any and all prior agreements (to the extent the terms thereof are inconsistent with this Agreement), promises, representations, or inducements, no matter its or their form, concerning its subject
matter. No promises or agreements made subsequent to the execution of this Agreement by Executive and the Company shall be binding unless reduced to writing and signed by authorized representatives of Executive and the Company. 

15. Choice of Law/Venue. This Agreement shall be governed by Washington law. If a dispute arises under this Agreement:
(a) Executive and the Company both irrevocably consent to the exclusive jurisdiction and venue of the state and federal courts located within King County, Washington for resolution of any matter; and (b) the prevailing party in any
arbitration or court proceeding shall be entitled to recover its reasonable attorneys’ fees, expenses and costs. 
 16.
Independent Contractor Status. This paragraph shall apply during the Consulting Period. Executive shall act solely as an independent contractor hereunder and conduct operations as an independent contractor, and nothing in this Agreement
shall be construed to render Executive as an employee of the Company. Executive shall not be considered an employee for purposes of any Company employment policy or any employment benefit plan, and shall not be entitled to any benefits under any
such policy or benefit plan. The Company has no right to control or direct the details, manner or means by which Executive performs the consulting services. Executive understands and recognizes that he shall not be an agent of the Company or have
authority to bind, represent or speak for the Company for any purpose. The Company shall record payments to Executive on, and provide to Executive, an IRS Form 1099, and the Company shall not withhold any federal, state or local employment taxes on
Executive’s behalf. Executive agrees to pay all such taxes in a timely manner and as prescribed by law, and accept exclusive liability for complying with all applicable state and federal laws governing self-employed individuals, including
obligations such as payment of taxes, social security, disability and other contributions based on the consulting fee paid to Executive hereunder. 

17. Section 409A. It is intended that all of the benefits and payments payable under this Agreement satisfy, to the
greatest extent possible, the exemptions from the application of Section 409A of the Internal Revenue Code of 1986, as amended (with state laws of similar effect, “Section 409A”), provided under Treasury Regulations
1.409A-1(b)(4), 1.409A-1(b)(5), and 1.409A-1(b)(9), and this Agreement will be construed to the greatest extent possible as consistent with those provisions. For 

  
 5 

 
purposes of Section 409A (including, without limitation, for purposes of Treasury Regulation Section 1.409A-2(b)(2)(iii)), Executive’s right to receive any installment payments
under this Agreement shall be treated as a right to receive a series of separate payments and, accordingly, each installment payment shall at all times be considered a separate and distinct payment. 

PLEASE READ THIS AGREEMENT AND CAREFULLY CONSIDER ALL OF ITS PROVISIONS BEFORE SIGNING IT. EXECUTIVE SHOULD CONSULT AN ATTORNEY OF HIS
CHOICE ABOUT THIS AGREEMENT BEFORE HE SIGNS THE AGREEMENT. THIS AGREEMENT CONTAINS A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS, INCLUDING THOSE UNDER FEDERAL, STATE AND LOCAL LAWS PROHIBITING DISCRIMINATION IN EMPLOYMENT, TO THE EXTENT PERMITTED BY
LAW. 
 IN ACCORDANCE WITH THE OLDER WORKERS BENEFIT PROTECTION ACT OF 1990, EXECUTIVE IS HEREBY ADVISED AS FOLLOWS:

 (A) EXECUTIVE HAS THE RIGHT TO CONSULT WITH AN ATTORNEY BEFORE SIGNING THIS AGREEMENT; 

(B) EXECUTIVE HAS TWENTY-ONE (21) DAYS TO CONSIDER THIS AGREEMENT BEFORE SIGNING IT; AND 

(C) EXECUTIVE HAS SEVEN (7) DAYS AFTER SIGNING THIS AGREEMENT TO REVOKE THIS AGREEMENT, AND THIS AGREEMENT WILL BECOME
EFFECTIVE UPON THE EXPIRATION OF THAT REVOCATION PERIOD. IF EXECUTIVE WISHES TO REVOKE THIS AGREEMENT, EXECUTIVE MUST DELIVER NOTICE OF EXECUTIVE’S REVOCATION IN WRITING, NO LATER THAN 5:00 P.M. ON THE 7TH DAY FOLLOWING EXECUTIVE’S
EXECUTION OF THIS AGREEMENT TO MARCHEX, INC., 520 PIKE STREET, SUITE 2000, SEATTLE, WA 98101, ATTN: ETHAN CALDWELL, EAC@MARCHEX.COM. EXECUTIVE UNDERSTANDS THAT IF HE REVOKES THIS AGREEMENT, IT WILL BE NULL AND VOID IN ITS ENTIRETY (OTHER THAN
SECTION 1), AND HE WILL NOT BE ENTITLED TO ANY PAYMENTS OR BENEFITS PROVIDED IN SECTION 3 OF THIS AGREEMENT. 
 [Remainder of page
intentionally left blank] 

  
 6 

 EXECUTIVE FREELY AND KNOWINGLY, AND AFTER DUE CONSIDERATION, ENTERS INTO THIS AGREEMENT
INTENDING TO WAIVE, SETTLE AND RELEASE ALL CLAIMS EXECUTIVE HAS OR MIGHT HAVE AGAINST RELEASEES. 
  

							
	Dated: May 11, 2016	 		 	 /s/ Russell C. Horowitz

		 		 	 Russell C. Horowitz

			
	Dated: May 11, 2016	 		 	Marchex, Inc.
				
		 		 	By	 	 /s/ Pete Christothoulou

		 		 		 	Pete Christothoulou
		 		 		 	Chief Executive Officer

 Exhibit A 

Existing Equity Awards 
 STOCK
OPTIONS 
  

																											
	Grant Number	  	Grant Date	 	  	Plan/Type	  	Shares	 	  	Price	 	  	Exercised	 	  	Vested	 	  	Unvested	 
	 00002210
	  	 	08/12/2009	  	  	2003/ISO	  	 	43,196	  	  	$	4.630000	  	  	 	0	  	  	 	43,196	  	  	 	0	  
	 00002211
	  	 	08/12/2009	  	  	2003/NQ	  	 	106,804	  	  	$	4.630000	  	  	 	0	  	  	 	106,804	  	  	 	0	  
	 00002374
	  	 	05/11/2010	  	  	2003/ISO	  	 	17,813	  	  	$	4.890000	  	  	 	0	  	  	 	17,813	  	  	 	0	  
	 00002375
	  	 	05/11/2010	  	  	2003/NQ	  	 	29,687	  	  	$	4.890000	  	  	 	0	  	  	 	29,687	  	  	 	0	  
	 00002705
	  	 	05/11/2010	  	  	2003/NQ	  	 	36,000	  	  	$	4.890000	  	  	 	0	  	  	 	36,000	  	  	 	0	  
	 00002716
	  	 	05/11/2010	  	  	2003/NQ	  	 	45,000	  	  	$	4.890000	  	  	 	0	  	  	 	45,000	  	  	 	0	  
	 00002717
	  	 	05/11/2010	  	  	2003/NQ	  	 	54,000	  	  	$	4.890000	  	  	 	0	  	  	 	54,000	  	  	 	0	  
	 00002537
	  	 	12/20/2010	  	  	2003/ISO	  	 	17,653	  	  	$	8.770000	  	  	 	0	  	  	 	17,653	  	  	 	0	  
	 00002538
	  	 	12/20/2010	  	  	2003/NQ	  	 	20,347	  	  	$	8.770000	  	  	 	0	  	  	 	20,347	  	  	 	0	  
	 00002721
	  	 	12/20/2010	  	  	2003/NQ	  	 	27,000	  	  	$	8.770000	  	  	 	0	  	  	 	27,000	  	  	 	0	  
	 00002726
	  	 	12/20/2010	  	  	2003/NQ	  	 	33,000	  	  	$	8.770000	  	  	 	0	  	  	 	33,000	  	  	 	0	  
	 00002731
	  	 	12/20/2010	  	  	2003/NQ	  	 	39,000	  	  	$	8.770000	  	  	 	0	  	  	 	39,000	  	  	 	0	  
	 00002924
	  	 	12/20/2011	  	  	2003/ISO	  	 	8,749	  	  	$	6.350000	  	  	 	0	  	  	 	8,749	  	  	 	0	  
	 00002993
	  	 	12/20/2011	  	  	2003/ISO	  	 	4,573	  	  	$	6.350000	  	  	 	0	  	  	 	4,573	  	  	 	0	  
	 00002925
	  	 	12/20/2011	  	  	2003/NQ	  	 	26,251	  	  	$	6.350000	  	  	 	0	  	  	 	26,251	  	  	 	0	  
	 00002965
	  	 	12/20/2011	  	  	2003/NQ	  	 	27,000	  	  	$	6.350000	  	  	 	0	  	  	 	27,000	  	  	 	0	  
	 00002971
	  	 	12/20/2011	  	  	2003/NQ	  	 	28,200	  	  	$	6.350000	  	  	 	0	  	  	 	28,200	  	  	 	0	  
	 00002994
	  	 	12/20/2011	  	  	2003/NQ	  	 	21,227	  	  	$	6.350000	  	  	 	0	  	  	 	21,227	  	  	 	0	  
	 00003200
	  	 	12/20/2012	  	  	2003/ISO	  	 	31,223	  	  	$	4.410000	  	  	 	0	  	  	 	20,301	  	  	 	10,922	  
	 00003201
	  	 	12/20/2012	  	  	2003/NQ	  	 	27,027	  	  	$	4.410000	  	  	 	0	  	  	 	27,026	  	  	 	1	  
	 00003229
	  	 	12/20/2012	  	  	2003/NQ	  	 	18,800	  	  	$	4.410000	  	  	 	0	  	  	 	18,800	  	  	 	0	  
	 00003233
	  	 	12/20/2012	  	  	2003/NQ	  	 	19,750	  	  	$	4.410000	  	  	 	0	  	  	 	19,750	  	  	 	0	  
	 00003237
	  	 	12/20/2012	  	  	2003/NQ	  	 	20,700	  	  	$	4.410000	  	  	 	0	  	  	 	20,700	  	  	 	0	  
	 00003634
	  	 	12/20/2013	  	  	2012/ISO	  	 	13,376	  	  	$	8.940000	  	  	 	0	  	  	 	1,000	  	  	 	12,376	  
	 00003635
	  	 	12/20/2013	  	  	2012/NQ	  	 	24,124	  	  	$	8.940000	  	  	 	0	  	  	 	20,093	  	  	 	4,031	  
	 00003646
	  	 	12/20/2013	  	  	2012/NQ	  	 	18,750	  	  	$	8.940000	  	  	 	0	  	  	 	18,750	  	  	 	0	  
	 00003650
	  	 	12/20/2013	  	  	2012/NQ	  	 	18,750	  	  	$	8.940000	  	  	 	0	  	  	 	18,750	  	  	 	0	  
	  
	 
	 TOTAL:
	  				  		  	 	778,000	  	  				  				  	 	750,670	  	  	 	27,330	  

  

																							
	RESTRICTED STOCK	  	 	 	  	 	  	 	 	  	 	 	  	 	 
							
	Grant Number	  	Grant Date	 	  	Plan/Type	  	Shares	 	  	Price	 	  	Vested	 	  	Unvested	 
	 00003196
	  	 	12/20/2012	  	  	Rest/RSA	  	 	58,250	  	  	$	0.010000	  	  	 	43,688	  	  	 	14,562	  
	 00003626
	  	 	12/20/2013	  	  	RS12/RSA	  	 	37,500	  	  	$	0.010000	  	  	 	18,750	  	  	 	18,750	  
	  
	 
	 TOTAL:
	  				  		  	 	95,750	  	  				  	 	62,438	  	  	 	33,312

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00261-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00261-of-00352.parquet"}]]