Document:

pgrd_ex109.htm

Exhibit 10.9

AMENDMENT AND TERMINATION OF INDEPENDENT

CONSULTING AND ADVISORY AGREEMENT

THIS AMENDMENT AND TERMINATION OF INDEPENDENT ADVISORY AND CONSULTING AGREEMENTis made this 24th day of July, 2012, effective July 1, 2012 (the “Effective Date”) by and between Random Source, Inc. (the “Company”) and Mediterranean Securities Group, LLC (“MSG”).

WHEREAS, the Company and MSG are parties to that certain Independent Consulting and Advisory Agreement dated December 12, 2011 (the “Consulting Agreement”).

WHEREAS, the Company has previously agreed to and executed an amendment to the Consulting Agreement permitting MSG to transfer the Consulting Shares (as hereinafter defined), however, such amendment was not executed by MSG and is therefore not in effect.

WHEREAS, pursuant to Section 3 of the Consulting Agreement, the Company was obligated to pay MSG a monthly fee of $5,000 on the first day of each month, commencing the month following the initial closing of the Financing (as that term is defined in the Consulting Agreement).

WHEREAS, pursuant to Section 3 of the Consulting Agreement, the Company issued MSG 4,200,000 shares of its common stock, which such shares were exchanged for a like number of shares of the common stock of Proguard Acquisition Corp. (the “Consulting Shares”) pursuant to the terms and conditions of that certain Agreement and Plan of Reorganization dated April 27, 2012 of which MSG is a signatory thereto.

WHEREAS, the Consulting Shares are represented by stock certificate number 2712 (the “Certificate”).

WHEREAS, pursuant to the terms of Section 3 of the Consulting Agreement, in the event that on the one year anniversary of the Consulting Agreement there has been no closing of the Financing, the Company is entitled to repurchase all of the Consulting Shares for $20,000, of which $12,500 previously tendered to MSG by the Company would be credited.

WHEREAS, the Financing was being conducted by MSG pursuant to the terms and conditions of that certain Placement Agent Agreement dated December 12, 2011, as amended (the “Placement Agent Agreement”), the term of which expired on June 30, 2012.

WHEREAS, the Financingin the specified amount did not close by June 30, 2012.

WHEREAS, the Company has requested to repurchase the Consulting Shares prior to the one year anniversary of the Consulting Agreement and MSG has consented to such request.

 

  

  

  

NOW, THEREFORE, in consideration of the mutual agreements herein made, the Company and MSG do hereby agree as follows:

1.           Recitals.  The above recitals are true, correct, and are herein incorporated by reference.

2.           Repurchase of Consulting Shares.

a.           The Company hereby repurchases the Consulting Shares for an aggregate consideration of $20,000, of which $12,500 has previously been tendered to MSG as partial compensation under the terms of the Placement Agent Agreement and the balance of $7,500 to be delivered at the closing (the “Closing”) of this Agreement.

b.           At Closing, MSG will tender to the Company the Certificate together with a medallion guaranteed stock power duly executed by an authorized agent of the Company.

c.           The Closing shall occur at the offices of Pearlman Schneider LLP, counsel to the Company, at a date and time to be mutually agreed upon by the parties hereto.

3.           Termination of Consulting Agreement.  The Consulting Agreement is hereby terminated and the parties thereto shall have no further obligations to each other under the terms of such agreement except for the provisions of Sections 6 and 7 which shall survive such termination.  MSG acknowledges and agrees that it is owed no compensation by the Company pursuant to the terms of the Consulting Agreement.

4.           Amendment or Assignment. No modification, waiver, amendment, discharge or change of this Agreement shall be valid unless the same is evidenced by a written instrument, executed by the party against which such modification, waiver, amendment, discharge or change is sought.

5.           Entire Agreement; Severability. This Agreement contains all of the understandings and agreements of the parties with respect to the subject matter discussed herein.  All prior agreements, whether written or oral, are merged herein and shall be of no force or effect.  The invalidity, illegality or unenforceability of any provision or provisions of this Agreement will not affect any other provision of this Agreement, which will remain in full force and effect, nor will the invalidity, illegality or unenforceability of a portion of any provision of this Agreement affect the balance of such provision.  In the event that any one or more of the provisions contained in this Agreement or any portion thereof shall for any reason be held to be invalid, illegal or unenforceable in any respect, this Agreement shall be reformed, construed and enforced as if such invalid, illegal or unenforceable provision had never been contained herein.

6.           Governing Law. This Agreement shall be construed in accordance with the laws of the State of Florida, without an application of the principles of conflicts of laws.  Any suit, action or proceeding with respect to this Agreement shall be brought in the state or federal courts located in Broward County in the State of Florida.  The parties hereto hereby accept the exclusive jurisdiction and venue of those courts for the purpose of any such suit, action or proceeding.  The parties hereto hereby irrevocably waive, to the fullest extent permitted by law, any objection that any of them may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement or any judgment entered by any court in respect thereof brought in Broward County, Florida, and hereby further irrevocably waive any claim that any suit, action or proceeding brought in Broward County, Florida has been brought in an inconvenient form.

7.           Counterparts. This Agreement may be executed in any number of counterparts, including facsimile signatures which shall be deemed as original signatures.  All executed counterparts shall constitute one agreement, notwithstanding that all signatories are not signatories to the original or the same counterpart.

 

  

  

  

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

 

	 	RANDOM SOURCE, INC.	 
	 	 	 	 
	
 

	
By: 

	/s/ David Kriegstein	 
	 	 	David Kriegstein, Chief Executive Officer	 
	 	 	 	 
	 	MEDITERRANEAN SECURITIES GROUP, LLC	 
	 	 	 	 
	 	By:	/s/ Andrew Garbarini	 
	 	 	Andrew Garbarini, President	 

 

 

3pgrd_ex1010.htm

Exhibit 10.10

Amended Distributor Agreement

Computer Nerds International, Inc.

Agreement This Distribution Purchase Agreement (“Agreement”) is entered into by and between Computer Nerds International, Incorporated, a Florida corporation (hereinafter “Distributor”) with offices at 2680 NE 188th St Miami Fl 33180 and Superwarehouse Business Products, Inc. a Florida corporation with offices at 3400 SW 26th Terrace A-8 Ft. Lauderdale Fl 33312 (Hereinafter “Customer”)

Appointment and Term Customer appoints Distributor as its non-exclusive distributor of the Product, in order to market, promote, distribute, and sell the Product to its customers, directly or indirectly and shall include all products, territories, geographies, customers and markets without restriction. The initial term of this Agreement shall begin on October 25th 2011 the Effective Date through December 31st 2012.  The term shall automatically renew for a one year period on each subsequent anniversary date of the Effective Date.  Customer may give written notice of its intent to terminate this Agreement at anytime.

The term shall be extended to March 31, 2013.

Payment Customer will pay Net 3 day terms.  Distributor may request a payment in the form of wire transfer at any time Distributor is owed money, and such payment will be made within 3 business days of the request.

Price Change and Price Protection Distributor will provide Customer an updated price list daily. Distributor agrees to charge Customer its cost plus 2% distributor fee. Price adjustments on Products shall be made in the event of a price increase and decrease. This is referred to as our “cost plus model”.

Effective August 1, 2012 the distributor fee will be lowered to 1.5%.

Entire Agreement The Agreement constitutes the entire agreement of the parties with respect to its subject matter, notwithstanding any additional, conflicting, or different terms that may be contained in any quotation, acknowledgment, confirmation, Purchase Order, invoice, or other form of either party.  The terms of this Agreement shall prevail in the event of any conflict.

Notices All notices shall be made in writing and shall be mailed by registered or certified mail return receipt requested with postage prepaid, or hand delivered, or sent by priority delivery service which can confirm delivery to the other party at the address set forth below:

Computer Nerds International, Inc.                                              Superwarehouse Business Products, Inc.

Signed: /s/ David Kriegstein                                                         Signed: /s/ Jason Merrick

Name: David Kriegstein                                                                 Name: Jason Merrick

Title: Co-President                                                                          Title: CFO

Date: 7-30-12                                                                                    Date:  7-30-12LINTA Exhibit 10.1_6.30.12

Exhibit 10.1

EXECUTION COPY
MAFFEI - LIBERTY INTERACTIVE CORPORATION
2000 PLAN

LIBERTY INTERACTIVE CORPORATION
(f/k/a LIBERTY MEDIA CORPORATION)
2000 INCENTIVE PLAN
(As Amended and Restated Effective February 22, 2007)

AMENDED AND RESTATED 
NON-QUALIFIED STOCK OPTION AGREEMENT

THIS AMENDED AND RESTATED NON-QUALIFIED STOCK OPTION AGREEMENT (“Agreement”) is entered into by and between LIBERTY INTERACTIVE CORPORATION, a Delaware corporation formerly known as Liberty Media Corporation (the “Company”), and Gregory B. Maffei (the “Grantee”).  
As of the Amendment Effective Date (as defined below), the Grantee is the President and Chief Executive Officer of the Company.  The Company has adopted the Liberty Interactive Corporation 2000 Incentive Plan (as amended prior to or after the Amendment Effective Date, the “Plan”), a copy of which as in effect on the Amendment Effective Date is attached to this Agreement as Exhibit A and by this reference made a part hereof, for the benefit of eligible employees and independent contractors of the Company and its Subsidiaries.  Capitalized terms used and not otherwise defined herein or in the Agreement Regarding LINTA Awards (as defined below) will have the meaning given thereto in the Plan.
This Agreement amends and restates in its entirety the Non-Qualified Stock Option Agreement (2000 Incentive Plan) dated effective as of December 17, 2009 between the Company and the Grantee with respect to 5,587,000 options to acquire shares of LINTA Stock (as defined below), 1,353,000 options to acquire shares of Liberty Media Corporation Series A Liberty Capital Common Stock (the “LCAPA Options”) and 760,000 options to acquire shares of Liberty Media Corporation Series A Liberty Starz Common Stock (the “LSTZA Options”).  Effective as of the Amendment Effective Date, the LCAPA Options and the LSTZA Options are subject to a separate Non-Qualified Stock Option Agreement between Liberty Media Corporation, a Delaware corporation formerly known as Liberty CapStarz, Inc., and the Grantee, and are no longer part of this Agreement.  
The Company and the Grantee therefore agree as follows:
1.Definitions.  All capitalized terms not defined in this Agreement that are defined in the Agreement Regarding LINTA Awards will have the meanings ascribed to them in the Agreement Regarding LINTA Awards.  The following terms, when used in this Agreement, have the following meanings:

“Agreement Regarding LINTA Awards” means the Agreement Regarding LINTA Equity Awards dated effective as of September 23, 2011 between the Company and Grantee.  All 

references in this Agreement to the Agreement Regarding LINTA Awards shall be deemed to refer to the Agreement Regarding LINTA Awards as in effect as of the Amendment Effective Date and shall not be affected by any future amendment to, or termination of, the Agreement Regarding LINTA Awards (unless any such amendment to the Agreement Regarding LINTA Awards specifically states otherwise).
“Amendment Effective Date” means September 23, 2011.
“Base Price” means, with respect to each LINTA Option, $10.27, the Fair Market Value of a share of LINTA Stock on the Effective Date.
 “Business Day” means any day other than Saturday, Sunday or a day on which banking institutions in Denver, Colorado, are required or authorized to be closed.
“Cause” has the meaning specified in the Agreement Regarding LINTA Awards except that for purposes of Section 7.B of this Agreement “Cause” has the meaning specified in the Employment Agreement.
“Change in Control” has the meaning specified in the Agreement Regarding LINTA Awards.
“Close of Business” means, on any day, 5:00 p.m., Denver, Colorado time.   
“Committee” means the Compensation Committee of the Board of Directors of the Company.
“Company” has the meaning specified in the preamble to this Agreement.
“Disability” has the meaning specified in the Agreement Regarding LINTA Awards except that for purposes of Section 7.B of this Agreement “Disability” has the meaning specified in the Employment Agreement.
“Effective Date” means December 17, 2009.
“Employment Agreement” means the Amended and Restated Employment Agreement dated effective as of September 23, 2011 between Splitco and the Grantee.  All references in this Agreement to the Employment Agreement shall be deemed to refer to the Employment Agreement as in effect as of the Amendment Effective Date and shall not be affected by any future amendment to, or termination of, the Employment Agreement (unless any such amendment to the Employment Agreement specifically states otherwise).
“Good Reason” has the meaning specified in the Agreement Regarding LINTA Awards except that for purposes of Section 7.B of this Agreement “Good Reason” has the meaning specified in the Employment Agreement.
“Grantee” has the meaning specified in the preamble to this Agreement.
 “LINTA Option” means an Option to purchase one share of LINTA Stock.

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 “LINTA Stock” has the meaning specified in Section 2 of this Agreement.
 “Option” has the meaning specified in Section 2 of this Agreement.
“Option Shares” has the meaning specified in Section 4(a) of this Agreement.
“Plan” has the meaning specified in the recitals to this Agreement.
“Qualifying Subsidiary” has the meaning set forth in the Reorganization Agreement.
“Reorganization Agreement” means the Reorganization Agreement dated as of August 30, 2011 between the Company and Splitco.
“Required Withholding Amount” has the meaning specified in Section 5 of this Agreement.
“Separation” means the Grantee's “separation from service” from the Company, as defined in Treasury Regulation Section 1.409A-1(h).
“Separation from Splitco” means the Grantee's “separation from service” from Splitco, as defined in Treasury Regulation Section 1.409A-1(h).
“Splitco” means Liberty Media Corporation, a Delaware corporation formerly known as Liberty CapStarz, Inc.
“Subsidiary” has the meaning set forth in the Reorganization Agreement.
“Term” has the meaning specified in Section 2 of this Agreement.
2.Grant of Options.  Subject to the terms and conditions herein, pursuant to the Plan, the Company granted to the Grantee as of the Effective Date options to purchase from the Company, exercisable during the period commencing on the Effective Date and expiring at Close of Business on the tenth anniversary of the Effective Date (such period, the “Term”), subject to earlier termination as provided in Section 7 below, at the Base Price, the number of shares of Liberty Interactive Corporation Series A Liberty Interactive Common Stock (“LINTA Stock”) set forth on the signature page to this Agreement. Each option granted hereunder is a “Nonqualified Stock Option” and is hereinafter referred to as an “Option.”  The Base Price of each Option and the number of Options granted hereunder are subject to adjustment pursuant to Section 11 below.  No fractional shares of LINTA Stock will be issuable upon exercise of an Option, and the Grantee will receive, in lieu of any fractional share of LINTA Stock that the Grantee otherwise would receive upon such exercise, cash equal to the fraction representing such fractional share multiplied by the Fair Market Value of one share of LINTA Stock as of the date on which such exercise is considered to occur pursuant to Section 4 below. 

3.Conditions of Exercise.  Unless otherwise determined by the Committee in its sole discretion (provided that such determination is not adverse to the Grantee), the Options will be exercisable only in accordance with the conditions stated in this Section 3.

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(a)Except as otherwise provided in Section 11.1(b) of the Plan, the Options may be exercised only to the extent they have become exercisable in accordance with the provisions of this Section 3(a).  Except as otherwise provided in this Agreement or the Agreement Regarding LINTA Awards, subject to the Grantee's continued employment with any of Splitco, any other Qualifying Subsidiary or any of their respective Subsidiaries, or the Company or its Affiliates (as defined in the Agreement Regarding LINTA Awards), one-half of the number of LINTA Options subject to this Agreement will become exercisable on each of December 17, 2013 and December 17, 2014.  Notwithstanding the foregoing, (i) in the event that any date on which Options would otherwise become exercisable is not a Business Day, such Options will become exercisable on the Business Day next following such date, and (ii) Options that have not theretofore become exercisable will become exercisable (A) to the extent provided in the Agreement Regarding LINTA Awards, upon the occurrence of a Change in Control, or (B) to the extent provided in Section 4 of the Agreement Regarding LINTA Awards, on the date of the Grantee's Separation.  In addition, and notwithstanding anything contained herein to the contrary, in the event that Grantee makes a valid Vesting Continuation Election pursuant to Section 5 of the Agreement Regarding LINTA Awards and such Section becomes applicable, any portion of the Option that is outstanding and unvested as of the date of the Grantee's Separation shall continue to vest in accordance with Section 5 of the Agreement Regarding LINTA Awards. 

(b)To the extent the Options become exercisable, any or all of such Options may be exercised (at any time or from time to time, except as otherwise provided herein) until expiration of the Term or earlier termination thereof as provided herein.

(c)The Grantee acknowledges and agrees that the Committee, in its discretion and as contemplated by Section 3.3 of the Plan, may adopt rules and regulations from time to time after the date hereof with respect to the exercise of the Options and that the exercise by the Grantee of Options will be subject to the further condition that such exercise is made in accordance with all such rules and regulations as the Committee may determine are applicable thereto.

4.Manner of Exercise.  Options will be considered exercised (as to the number of Options specified in the notice referred to in Section 4(a) below) on the latest of (i) the date of exercise designated in the written notice referred to in Section 4(a) below, (ii) if the date so designated is not a Business Day, the first Business Day following such date or (iii) the earliest Business Day by which the Company has received all of the following:

(a)Written notice, in such form as the Committee may require, containing such representations and warranties as the Committee may reasonably require and designating, among other things, the date of exercise and the number of shares of LINTA Stock (“Option Shares”) to be purchased; 

(b)Payment of the Base Price for each Option Share to be purchased in any (or a combination) of the following forms:  (A) cash, (B) check, (C) whole shares of any class or series of the Company's common stock, or (D) the delivery, together with a properly executed exercise notice, of irrevocable instructions to a broker to deliver promptly to 

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the Company the amount of sale or loan proceeds required to pay the Base Price (and, if applicable the Required Withholding Amount, as described in Section 5 below); and

(c)Any other documentation that the Committee may reasonably require.

5.Mandatory Withholding for Taxes.  The Grantee acknowledges and agrees that the Company will deduct from the shares of LINTA Stock otherwise payable or deliverable upon exercise of any Options that number of shares of LINTA Stock (valued at the Fair Market Value of such LINTA Stock on the date of exercise) that is equal to the amount of all federal, state and local taxes required to be withheld by the Company or any Subsidiary of the Company upon such exercise, as determined by the Company (the “Required Withholding Amount”), unless provisions to pay such Required Withholding Amount have been made to the satisfaction of the Company.  If the Grantee elects to make payment of the Base Price by delivery of irrevocable instructions to a broker to deliver promptly to the Company the amount of sale or loan proceeds required to pay the Base Price, such instructions may also include instructions to deliver the Required Withholding Amount to the Company.  In such case, the Company will notify the broker promptly of the Company's determination of the Required Withholding Amount.

6.Payment or Delivery by the Company.  As soon as practicable after receipt of all items referred to in Section 4, and subject to the withholding referred to in Section 5, the Company will (i) deliver or cause to be delivered to the Grantee certificates issued in the Grantee's name for, or cause to be transferred to a brokerage account through Depository Trust Company for the benefit of the Grantee, the number of shares of LINTA Stock purchased by exercise of Options, and (ii) deliver any cash payment to which the Grantee is entitled in lieu of a fractional share of LINTA Stock as provided in Section 2 above.  Any delivery of shares of LINTA Stock will be deemed effected for all purposes when certificates representing such shares have been delivered personally to the Grantee or, if delivery is by mail, when the stock transfer agent of the Company has deposited the certificates in the United States mail, addressed to the Grantee, or at the time the stock transfer agent initiates transfer of shares to a brokerage account through Depository Trust Company for the benefit of the Grantee, if applicable, and any cash payment will be deemed effected when a check from the Company, payable to the Grantee and in the amount equal to the amount of the cash payment, has been delivered personally to the Grantee or deposited in the United States mail, addressed to the Grantee.

7.Termination of Options.  

A.    This Section 7.A will apply unless and until the Grantee makes a valid Vesting Continuation Election pursuant to the Agreement Regarding LINTA Awards and Section 5 of such agreement becomes applicable.  If this Section 7.A is then applicable, the Options will terminate at the time specified below:
(a)If a Change in Control has not then occurred and the Grantee's Separation occurs prior to the Close of Business on December 31, 2014 (i) on account of a termination of the Grantee's employment for Cause or (ii) on account of a termination of the Grantee's employment by the Grantee without Good Reason, all Options that are not exercisable as of the Close of Business on the date of Separation will terminate at that time and all

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Options that are exercisable as of the Close of Business on the date of Separation will terminate at the Close of Business on the first Business Day following the expiration of the 90-day period that began on the date of the Grantee's Separation.

(b)If (i) the Grantee's Separation does not occur prior to the Close of Business on December 31, 2014, (ii) a Change in Control occurs prior to the Grantee's Separation, or (iii) a Change in Control has not then occurred and the Grantee's Separation occurs (A) on account of a termination of the Grantee's employment without Cause, (B) on account of a termination of the Grantee's employment by the Grantee for Good Reason, or (C) by reason of the death or Disability of the Grantee, the Options will terminate at the expiration of the Term.

In any event in which Options remain exercisable for a period of time following the date of the Grantee's Separation as provided above, the Options may be exercised during such period of time only to the extent the same were exercisable as provided in Section 3 above on such date of Separation.  Notwithstanding any period of time referenced in this Section 7.A or any other provision of this Agreement or any other agreement that may be construed to the contrary, the Options will in any event terminate not later than upon the expiration of the Term.
B.    This Section 7.B. will apply if the Grantee makes a valid Vesting Continuation Election pursuant to the Agreement Regarding LINTA Awards and Section 5 of such agreement becomes applicable.  If this Section 7.B is then applicable, the Options will terminate at the time specified below:
(a)If a Change in Control has not then occurred and the Grantee's Separation from Splitco occurs prior to the Close of Business on December 31, 2014 (i) on account of a termination of the Grantee's employment with Splitco for Cause or (ii) on account of a termination of the Grantee's employment with Splitco by the Grantee without Good Reason, all Options that are not exercisable as of the Close of Business on the date of Grantee's Separation from Splitco will terminate at that time and all Options that are exercisable as of the Close of Business on the date of the Grantee's Separation from Splitco will terminate at the Close of Business on the first Business Day following the expiration of the 90-day period that began on the date of the Grantee's Separation from Splitco.

(b)If (i) the Grantee's Separation from Splitco does not occur prior to the Close of  Business on December 31, 2014, (ii) a Change in Control occurs prior to the Grantee's Separation from Splitco, or (iii) a Change in Control has not then occurred and the Grantee's Separation from Splitco occurs (A) on account of a termination of the Grantee's employment with Splitco without Cause, (B) on account of a termination of the Grantee's employment with Splitco by the Grantee for Good Reason, or (C) by reason of the death or Disability of the Grantee, the Options will terminate at the expiration of the Term.

In any event in which Options remain exercisable for a period of time following the date of the Grantee's Separation from Splitco as provided above, the Options may be exercised during such period of time only to the extent the same were exercisable as provided in Section 

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3 above (or as provided in Section 5 of the Agreement Regarding LINTA Awards) on such date of Separation from Splitco.  Notwithstanding any period of time referenced in this Section 7.B or any other provision of this Agreement or any other agreement that may be construed to the contrary, the Options will in any event terminate not later than upon the expiration of the Term.
8.Nontransferability.  During the Grantee's lifetime, the Options are not transferable (voluntarily or involuntarily) other than pursuant to a Domestic Relations Order and, except as otherwise required pursuant to a Domestic Relations Order, are exercisable only by the Grantee or the Grantee's court appointed legal representative.  The Grantee may designate a beneficiary or beneficiaries to whom the Options will pass upon the Grantee's death and may change such designation from time to time by filing a written designation of beneficiary or beneficiaries with the Committee on the form annexed hereto as Exhibit B or such other form as may be prescribed by the Committee, provided that no such designation will be effective unless so filed prior to the death of the Grantee.  If no such designation is made or if the designated beneficiary does not survive the Grantee's death, the Options will pass by will or the laws of descent and distribution.  Following the Grantee's death, the Options, if otherwise exercisable, may be exercised by the person to whom such Option or right passes according to the foregoing and such person will be deemed the Grantee for purposes of any applicable provisions of this Agreement.

9.Forfeiture for Misconduct and Repayment of Certain Amounts.  If (i) a material restatement of any financial statement of the Company (including any consolidated financial statement of the Company and its consolidated subsidiaries) is required and (ii) in the reasonable judgment of the Committee, (A) such restatement is due to material noncompliance with any financial reporting requirement under applicable securities laws and (B) such noncompliance is a result of misconduct on the part of the Grantee, the Grantee will repay to the Company Forfeitable Benefits received by the Grantee during the Misstatement Period in such amount as the Committee may reasonably determine, taking into account, in addition to any other factors deemed relevant by the Committee, the extent to which the market value of LINTA Stock  during the Misstatement Period was affected by the error(s) giving rise to the need for such restatement.  “Forfeitable Benefits” means (i) any and all cash and/or shares of LINTA Stock received by the Grantee (A) upon the exercise during the Misstatement Period of any SARs held by the Grantee or (B) upon the payment during the Misstatement Period of any Cash Award or Performance Award held by the Grantee, the value of which is determined in whole or in part with reference to the value of LINTA Stock, and (ii) any proceeds received by the Grantee from the sale, exchange, transfer or other disposition during the Misstatement Period of any shares of LINTA Stock received by the Grantee upon the exercise, vesting or payment during the Misstatement Period of any Award held by the Grantee.  By way of clarification, “Forfeitable Benefits” will not include any shares of LINTA Stock received upon exercise of any Options during the Misstatement Period that are not sold, exchanged, transferred or otherwise disposed of during the Misstatement Period.  “Misstatement Period” means the 12-month period beginning on the date of the first public issuance or the filing with the Securities and Exchange Commission, whichever occurs earlier, of the financial statement requiring restatement.

10.No Stockholder Rights.  Prior to the exercise of Options in accordance with the terms and conditions set forth in this Agreement, the Grantee will not be deemed for any purpose to be, or to have any of the rights of, a stockholder of the Company with respect to 

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any shares of LINTA Stock underlying the Options, nor will the existence of this Agreement affect in any way the right or power of the Company or any stockholder of the Company to accomplish any corporate act, including, without limitation, the acts referred to in Section 11.16 of the Plan.

11.Adjustments.  If the outstanding shares of LINTA Stock are subdivided into a greater number of shares (by stock dividend, stock split, reclassification or otherwise) or are combined into a smaller number of shares (by reverse stock split, reclassification or otherwise), or if the Committee determines that any stock dividend, extraordinary cash dividend, reclassification, recapitalization, reorganization, split-up, spin-off, combination, exchange of shares, warrants or rights offering to purchase any shares of LINTA Stock or other similar corporate event (including mergers or consolidations other than those which constitute Approved Transactions, which shall be governed by Section 11.1(b) of the Plan) affects shares of LINTA Stock such that an adjustment is required to preserve the benefits or potential benefits intended to be made available under this Agreement, then the Options will be subject to adjustment (including, without limitation, as to the number of Options and the Base Price per share of such Options) in such manner as the Committee, in its sole discretion, deems equitable and appropriate in connection with the occurrence of any of the events described in this Section 11 following the Amendment Effective Date. 

12.Restrictions Imposed by Law.  Without limiting the generality of Section 11.8 of the Plan, the Grantee will not exercise the Options, and the Company will not be obligated to make any cash payment or issue or cause to be issued any shares of LINTA Stock if counsel to the Company determines that such exercise, payment or issuance would violate any applicable law or any rule or regulation of any governmental authority or any rule or regulation of, or agreement of the Company with, any securities exchange or association upon which shares of LINTA Stock are listed or quoted.  The Company will in no event be obligated to take any affirmative action in order to cause the exercise of the Options or the resulting payment of cash or issuance of shares of LINTA Stock to comply with any such law, rule, regulation or agreement.

13.Notice.  Unless the Company notifies the Grantee in writing of a different procedure, any notice or other communication to the Company with respect to this Agreement will be in writing and will be delivered personally or sent by United States first class mail, postage prepaid and addressed as follows:

Liberty Interactive Corporation
12300 Liberty Boulevard
Englewood, Colorado 80112
Attn:  General Counsel

Any notice or other communication to the Grantee with respect to this Agreement will be in writing and will be delivered personally, or will be sent by United States first class mail, postage prepaid, to the Grantee's address as listed in the records of the Company on the date of this Agreement, unless the Company has received written notification from the Grantee of a change of address.

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14.Amendment.  Notwithstanding any other provision hereof, this Agreement may be amended from time to time as approved by the Committee as contemplated in Section 11.7(b) of the Plan.  Without limiting the generality of the foregoing, without the consent of the Grantee, 

(a)this Agreement may be amended from time to time as approved by the Committee (i) to cure any ambiguity or to correct or supplement any provision herein which may be defective or inconsistent with any other provision herein, or (ii) to add to the covenants and agreements of the Company for the benefit of the Grantee or surrender any right or power reserved to or conferred upon the Company in this Agreement, subject to any required approval of the Company's stockholders and, provided, in each case, that such changes or corrections will not adversely affect the rights of the Grantee with respect to the Award evidenced hereby, or (iii) to make such other changes as the Company, upon advice of counsel, determines are necessary because of the adoption or promulgation of, or change in or of the interpretation of, any law or governmental rule or regulation, including any applicable federal or state securities laws; and

(b)subject to any required action by the Board or the stockholders of the Company, the Options granted under this Agreement may be canceled by the Company and a new Award made in substitution therefor, provided, that the Award so substituted will satisfy all of the requirements of the Plan as of the date such new Award is made and no such action will adversely affect any Options.

15.Grantee Employment.  Nothing contained in this Agreement, and no action of the Company or the Committee with respect hereto, will confer or be construed to confer on the Grantee any right to continue in the employ of the Company or interfere in any way with the right of the Company to terminate the Grantee's employment at any time, with or without cause, subject to the provisions of the Agreement Regarding LINTA Awards.

16.Nonalienation of Benefits.  Except as provided in Section 8 of this Agreement, (i) no right or benefit under this Agreement will be subject to anticipation, alienation, sale, assignment, hypothecation, pledge, exchange, transfer, encumbrance or charge, and any attempt to anticipate, alienate, sell, assign, hypothecate, pledge, exchange, transfer, encumber or charge the same will be void, and (ii) no right or benefit hereunder will in any manner be liable for or subject to the debts, contracts, liabilities or torts of the Grantee or other person entitled to such benefits.

17.Governing Law.  This Agreement will be governed by, and construed in accordance with, the internal laws of the State of Colorado.  Each party irrevocably submits to the general jurisdiction of the state and federal courts located in the State of Colorado in any action to interpret or enforce this Agreement and irrevocably waives any objection to jurisdiction that such party may have based on inconvenience of forum.

18.Construction.  References in this Agreement to “this Agreement” and the words “herein,” “hereof,” “hereunder” and similar terms include all Exhibits and Schedules appended hereto.  The word “include” and all variations thereof are used in an illustrative sense and not in a limiting sense.  All decisions of the Committee upon questions regarding this 

--9-

Agreement will be conclusive.  Unless otherwise expressly stated herein, in the event of any inconsistency between the terms of the Plan and this Agreement, the terms of the Plan will control.  The headings of the sections of this Agreement have been included for convenience of reference only, are not to be considered a part hereof and will in no way modify or restrict any of the terms or provisions hereof.
19.Duplicate Originals.  The Company and the Grantee may sign any number of copies of this Agreement.  Each signed copy will be an original, but all of them together represent the same agreement.

20.Rules by Committee.  The rights of the Grantee and the obligations of the Company hereunder will be subject to such reasonable rules and regulations as the Committee may adopt from time to time.

21.Entire Agreement.  This Agreement, together with the applicable provisions of the Agreement Regarding LINTA Awards, is in satisfaction of and in lieu of all prior discussions and agreements, oral or written, between the Company and the Grantee regarding the subject matter hereof.  The Grantee and the Company hereby declare and represent that no promise or agreement not expressed herein or in the Agreement Regarding LINTA Awards has been made and that this Agreement, together with the Agreement Regarding LINTA Awards, contains the entire agreement between the parties hereto with respect to the Award and replaces and makes null and void any prior agreements between the Grantee and the Company regarding the Award.  This Agreement will be binding upon and inure to the benefit of the parties and their respective heirs, successors and assigns. 

22.Grantee Acceptance.  The Grantee will signify acceptance of the terms and conditions of this Agreement by signing in the space provided at the end hereof and returning a signed copy to the Company.

23.Code Section 409A Compliance.  To the extent that the provisions of Section 409A of the Code or any Treasury regulations promulgated thereunder are applicable to any Option, the parties intend that this Agreement will meet the requirements of such Code section and regulations and that the provisions hereof will be interpreted in a manner that is consistent with such intent.  The Grantee will cooperate with the Company in taking such actions as the Company may reasonably request to assure that this Agreement will meet the requirements of Section 409A of the Code and any Treasury regulations promulgated thereunder and to limit the amount of any additional payments required by Section 10(g) of the Agreement Regarding LINTA Awards to be made to the Grantee.

[Signature page follows.]

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Signature Page to Amended and Restated Non-Qualified Stock Option Agreement (2000 Incentive Plan) dated effective as of September 23, 2011, between Liberty Interactive Corporation and Gregory B. Maffei.

LIBERTY INTERACTIVE CORPORATION

By:                      
Name:                      
Title:                      

Date:  April __, 2012

GRANTEE:

                        
Gregory B. Maffei
Address:                     
                        
SSN:                    

Date:  April __, 2012

Number of Options Granted:

	
			
	LINTA Options
	5,587,000
	 

        

BUS_RE\4092202.4

Exhibit A
to
Amended and Restated Non-Qualified Stock Option Agreement (2000 Incentive Plan)
dated effective as of September 23, 2011 between Liberty Interactive Corporation and Grantee

[Copy of Liberty Interactive Corporation (f/k/a Liberty Media Corporation) 2000 Incentive Plan (As Amended and Restated Effective February 22, 2007)] 

BUS_RE\4092202.4

Exhibit B
to
Amended and Restated Non-Qualified Stock Option Agreement
(2000 Incentive Plan) dated effective as of September 23, 2011 between Liberty Interactive Corporation and Grantee

Designation of Beneficiary

I, ___________________________________________ (the “Grantee”), hereby declare

that upon my death                              (the “Beneficiary”) of
Name

,
Street Address            City        State            Zip Code

who is my                                 , will be entitled to the
Relationship to Grantee

Options and all other rights accorded the Grantee by the above‐referenced grant agreement (the “Agreement”).

It is understood that this Designation of Beneficiary is made pursuant to the Agreement and is subject to the conditions stated herein, including the Beneficiary's survival of the Grantee's death.  If any such condition is not satisfied, such rights will devolve according to the Grantee's will or the laws of descent and distribution.
It is further understood that all prior designations of beneficiary under the Agreement are hereby revoked and that this Designation of Beneficiary may only be revoked in writing, signed by the Grantee, and filed with the Company prior to the Grantee's death.

                                                    
Date                            Grantee

Please return this form to:

Liberty Interactive Corporation
12300 Liberty Boulevard
Englewood, Colorado 80112
Attn: Carla Williams

BUS_RE\4092202.4

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