Document:

Exhibit 10.1

                JOINT VENTURE DEVELOPMENT AND OPERATING AGREEMENT

THIS  JOINT  VENTURE  DEVELOPMENT  AND  OPERATING  AGREEMENT  is made and  dated
effective (the "Effective Date") as of March 25, 2009.

BETWEEN:

     VERIFIED  CAPITAL  CORP.  with its address for notices at c/o 2550-555 West
     Hastings Street, Vancouver, BC V6B 4N5

          (hereinafter referred to as "VCC")

                                                               OF THE FIRST PART
AND:

          VERIFIED  TRANSACTIONS  CORP.  with its  address  for  notices  at c/o
          2550-555 West Hastings Street, Vancouver, BC V6B 4N5

          (hereinafter referred to as "VerifiedT")

                                                              OF THE SECOND PART

AND:

          TREASURE EXPLORATIONS INC, of

          (hereinafter referred to as "Treasure")

                                                               OF THE THIRD PART

          (collectively  or  individually  also  referred to as a "Party" or the
          "Parties")

WHEREAS:

A. VCC is the operator and a participant to earn 75% participating interest in a
joint  venture  (subject  to a  cash  payment  and  3%  royalty)  with  Verified
Transactions   Corp.   ("VERIFIEDT")   and  which  joint  venture   (called  the
"VERIFIEDT/VCC  JOINT VENTURE") is in the business of internet security software
and on-line  (Gateway)  business and the Parties have determined to form a joint
venture  to  conduct  such  business  and any  future  businesses  which  derive
therefrom or may be developed in such joint  venture as hereafter  defined (such
present and future business referred to hereafter as the "BUSINESS");

B. VCC (which  hereby is receiving  the  approval of VerifiedT to the  effective
assignment of VCC Interest to Treasure)  and Treasure  have  determined to enter
into this joint  venture to permit  Treasure  to earn up to a 70%  participating
interest in the VerifiedT/VCC Joint Venture;
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                                      -2-

NOW THEREFORE  THIS  AGREEMENT  WITNESSES  that in  consideration  of the mutual
covenants and agreements  herein contained and the sum of $10.00 now paid by the
parties,  each to the other  (the  receipt  and  sufficiency  of which is hereby
acknowledged), the parties agree as follows:

1. DEFINITIONS

1.01 In this  Agreement,  including  the recitals and schedules  hereto,  unless
there is something in the subject matter or context inconsistent therewith,  the
following words and expressions shall have the following meanings:

     (a)  "Affiliate"  means  any  corporation  of  which  a party  hereto  owns
          directly or indirectly not less than 50.1% of the outstanding  capital
          stock;

     (b)  "Agreement" means this Joint Venture  agreement,  as amended from time
          to time;

     (c)  "Confidential  Information" shall mean all information  contributed by
          the Parties or acquired or  developed by the Joint  Venture  which the
          Management Committee considers confidential, proprietary, or useful in
          the  Business and not  generally  known in the public and includes all
          technical  information  such as  data,  know-how,  research,  designs,
          drawings,  plans,  specifications,  models,  quality  controls,  trade
          secrets, software,  processes,  equipment,  controllers,  patents, and
          Business information such as equipment,  devices,  methods relevant to
          the Joint Venture's Business,  organizational charts,  business plans,
          policies,  corporate structure,  financial  information and resources,
          transactions,  contracts  and Joint  Venture  customers  such as their
          names,  requirements and necessities,  and any collateral  information
          which may be in the  nature of a latent  interest  or  expectation  or
          corporate opportunity such as inventions,  discoveries or improvements
          conceived,  developed or made by  employees,  in whole or in part,  or
          other  persons  associated  with the Joint  Venture  and all and every
          other information which would reasonably be considered confidential in
          the industry or by employment  of reasonable  judgement and the burden
          shall be on a Party to show that information alleged by the Management
          Committee or a Party to be confidential is not;

     (d)  "Costs" mean all costs, expenses, obligations, liabilities and charges
          of  whatsoever  kind or nature  incurred  or  chargeable,  directly or
          indirectly,  in  connection  with the Project  and the Joint  Venture,
          which costs, expenses,  obligations,  liabilities and charges include,
          without limiting the generality of the foregoing, the following:

          (i)  all monies, of whatsoever nature, expended directly or indirectly
               in maintaining and operating the JV Assets and the Project;
          (ii) professional  costs associated with the JV Assets, the Project or
               the financing thereof;
          (iii)development  plans,  marketing  plans,  and all other  studies or
               reports;
          (iv) filing costs whether for securities regulations or other matters;
          (v)  suppliers, contractors, trades, services, and all other inputs of
               goods, services, or labour for the Project and JV Assets thereof;
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                                      -3-

          (vi) employees,  contract labour,  management, and all other personnel
               costs;
          (vii)services  of third  parties or  provided  by the  Parties at fair
               market value;
          (viii) administration,  travel,  office supplies,  and all other costs
               reasonably  incurred  by or  chargeable  to the  Project  and its
               administration;
          (ix) marketing, advertising, promotion, and such related expenses,
          (x)  costs of sales including commissions, transaction fees, and other
               such charges;
          (xi) the costs of raising  equity or debt  financing to capitalize the
               Project and the JV Assets;
          (xii)interest costs and payment,  amortization  or otherwise,  of debt
               in accordance with policies of the Management Committee; and
          (xiii) all  other  costs  as may be  determined  by the  Operator,  as
               approved  by the  Management  Committee,  from time to time,  and
               normally  charged to a project such as the Project in  accordance
               with  industry  standards  and  generally   accepted   accounting
               principals consistently applied;

     (e)  "Joint  Venture"  means the  relationship  of co-venture  between VCC,
          VerifiedT  and  Treasure for the  development  and  operations  of the
          Project,  the joint  ownership and  management of the JV Assets and as
          may be  determined,  expanded,  or diminished  in accordance  with the
          policies, procedures, and resolutions of the Management Committee;

     (f)  "JV Assets" means the VCC Assets, VerifiedT Assets and Treasure Assets
          contributed  to the  Joint  Venture  by this  Agreement  and owned and
          operated  jointly in accordance  with the terms of this  Agreement and
          all  assets  which may be  contributed  hereafter  by the  Parties  or
          developed by the Joint Venture;

     (g)  "Management  Committee" means that committee  established  pursuant to
          this Agreement and composed of representatives of the Parties hereto;

     (h)  "Operator"  means  that  party  or  those  parties  appointed  by  the
          Management  Committee as operator and/or manager of the JV Assets, the
          Project  and the  business  of the  Joint  Venture  and the  first and
          continuing  Operator  shall be  Treasure by  sub-contracted  operating
          agreement  to VCC  subject to review at the request of a Party on each
          anniversary of this Agreement;

     (i)  "Parties", "Party", "Participant" or "Participants" means the parties,
          singly or  collectively  as  appropriate,  to this  Agreement or their
          proper successors,  assigns,  or other recipients of a party's rights,
          in whole or in part, in or to this Agreement;

     (j)  "Project"  means  the  plan of  development  of the JV  Assets  in the
          Territory for the purpose of  establishing  commercial  objectives and
          Revenues employing the JV Assets, and the additional  contributions or
          services of the Parties,  in  accordance  with the  development  plans
          established  by  this  Agreement  and  the  Management  Committee  and
          conducted  by  the  Operator  appointed  by  this  Agreement  and  the
          Management Committee.

     (k)  "Revenues"  or  "Revenue"  means  gross sales  proceeds  and income of
          whatsoever  nature  realized  by the  conduct of the JV Assets and the
          business thereof and the realization of the Project conducted pursuant
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                                      -4-

          to this Agreement,  less Costs,  and available for distribution to the
          Parties hereof;

     (l)  "Territory" means all of the world;

     (m)  "Treasure  Assets"  means  the  assets  and  services  contributed  by
          Treasure to the Joint Venture and Project as set forth in Schedule "A"
          hereto; and

     (n)  "VCC Assets" means the assets and services  contributed  by VCC to the
          Joint Venture and Project as set forth in Schedule "C" hereto;

     (o)  "VerifiedT  Assets"  means the  assets  and  services  contributed  by
          VerifiedT  to the Joint  Venture  and Project as set forth in Schedule
          "B" hereto.

2. REPRESENTATIONS, WARRANTIES AND COVENANTS

2.01 Each Party  represents  and warrants to the other Party hereto that, to the
best of its knowledge:

     (a)  it has full power and  authority to carry on its business and to enter
          into this  Agreement and any  agreement or  instrument  referred to or
          contemplated by this Agreement, except where regulatory or shareholder
          approval may be required;

     (b)  neither the  execution  and delivery of this  Agreement nor any of the
          Agreements  referred  to  herein  or  contemplated   hereby,  nor  the
          consummation of the transactions  hereby  contemplated  conflict with,
          result in the breach of or accelerate the performance required by, any
          agreement to which it is a party  excepting  only  variances  required
          under finance documents;

     (c)  the VCC Assets,  the VerifiedT  Assets and the Treasure  Assets hereby
          contributed to the Joint Venture shall be transferred  and contributed
          to the Joint Venture free and clear of  encumbrances of any nature and
          the same are transferred and contributed  with full right,  title, and
          interest  to the  Joint  Venture  and  free  of  claims  by any  party
          whatsoever; and

     (d)  the  execution  and  delivery  of this  Agreement  and the  Agreements
          contemplated  hereby  will not  violate or result in the breach of the
          laws of any  jurisdiction  applicable or pertaining  thereto or of its
          constating documents.

2.02 Each Party covenants, warrants and agrees with the other:

     (a)  to perform or cause to be performed its  obligations  and  commitments
          under this Agreement;
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                                      -5-

     (b)  not to  engage  either  alone or in  association  with  others  in any
          activity  in respect of the JV Assets,  Business or the Project in the
          Territory except as provided or authorized by this Agreement;

     (c)  to be just and faithful in all its  activities  and dealings  with the
          other Party; and

     (d)  any  information  which the  Parties  may provide to each other or the
          Joint  Venture or any  permissible  person or company will be accurate
          and complete in all material respects and not misleading, and will not
          omit to state any fact or  information  which would be material to the
          Parties or the Joint Venture or such permissible person or company.

2.03 The  representations,  warranties  and covenants  hereinbefore  set out are
conditions on which the Parties have relied in entering into this  Agreement and
each Party shall  indemnify and save the other  harmless from all loss,  damage,
costs,  actions and suits arising out of or in connection with any breach of any
representation,  warranty,  covenant,  agreement or  condition  made by them and
contained in this Agreement.

3. PURPOSE AND CREATION OF THE JOINT VENTURE AND PROJECT

3.01 Effective the Effective Date of this Agreement VCC and VerifiedT permit the
entry of Treasure to the joint venture  called the  VerifiedT/VCC  Joint Venture
and agree to contribute in accordance  with this  Agreement the VCC Assets,  the
VerifiedT  Assets and the Treasure  Assets to the Joint  Venture to be owned and
operated  jointly as assets of the Joint  Venture,  develop the  Business of the
Project as co-venturers in the Territory, divide the funding requirements of the
Project as provided by this  Agreement,  conduct the Project in accordance  with
this  Agreement,  and share in the Revenues of the Joint  Venture in  accordance
with the terms of this Agreement.

3.02 The business and affairs of the Joint Venture shall be limited  strictly to
the  Project  and shall not be extended by  implication,  or  otherwise,  unless
specifically  authorized by the Management  Committee.  So long as the same does
not derogate from the performance of the obligations and responsibilities of the
Parties  hereto,  none of the Parties to this  Agreement  shall be  prevented or
restricted  from carrying on business or any  activities  of whatsoever  nature.
Neither Party shall compete with the Project.  The Joint Venture  Business shall
not be  altered  or  changed to  unrelated  endeavors  from that of the  present
Project without unanimous consent of the Management Committee, with such consent
not to be unreasonably withheld.

3.03 The Project  shall  initially  be that set forth in Schedule "D" hereto and
thereafter shall be that Business  endeavor  employing the JV Assets as shall be
determined by the Management Committee.  The Joint Venture may not be terminated
except by consent in writing of all Parties to this Agreement.

3.04 The  Joint  Venture  Business  and the JV  Assets  shall be held in a Joint
Venture  company  ("JV-Co")  and all the affairs of the Joint  Venture  shall be
located in such JV-Co. The JV-Co shall be a holding company in a mutually agreed
jurisdiction  with  minimal  tax,  good  laws and  judicial  facilities  and low
political  risk.  The JV-Co shall  operate its active  business in  subsidiaries
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                                      -6-

("Subs")  which shall be  established  to provide for efficiency of operation of
separate businesses and to ensure compliance with law.

3.05 The Parties have not created a partnership  hereby and nothing contained in
this Agreement  shall in any manner  whatsoever  constitute a Party the partner,
agent  or legal  representative  of any  other  Party or  create  any  fiduciary
relationship  between them for any purpose  whatsoever.  No Party shall have any
authority to act for or to assume any obligations or  responsibilities on behalf
of any other  Party  except as may be from time to time  agreed  upon in writing
between the Parties or as otherwise expressly provided herein.

3.06 The rights and obligations of each Party shall be in every case several and
not joint or joint and several.

3.07 The Parties or the  Management  Committee  may at any time elect to conduct
the Business Project in such Joint Venture management  corporations,  or several
corporations,  in addition to the  structure  provided by sec.  3.04 as may seem
appropriate  for  tax,  JV  Asset  registration,  liability  and  administrative
efficiency.

4. INTEREST OF THE PARTIES IN AND TO THE JOINT VENTURE

4.01 The relevant  ownership  and Revenue  interests  of the Parties  under this
Joint Venture shall be (subject to the segregated interests and Royalty below in
Part  5)  a  25%  (twenty-five   percent)  interest  to  VerifiedT   ("VerifiedT
Interest"),  a 5% (five  percent)  interest  to VCC ("VCC  Interest")  and a 70%
(seventy percent) interest to Treasure ("Treasure  Interest")(such interests are
collectively  called the "Interests" or singularly the "Interest").  JV-Co shall
have its capital  established  and issued to reflect these  interests  such that
there shall be one class of  participating  shares which shall be issued 25/5/70
(VerifiedT/VCC/Treasure  respectively).  Except as  provided in section 5 below,
all interests in the Subs shall be owned by JV-Co. The voting interests shall be
governed in the same manner as the provisions of British Columbia  corporate law
(subject to any required  variations of the  jurisdiction  of  incorporation  of
JV-Co) as if the  interests  were common shares such that,  inter alia,  special
resolutions  shall  require a 2/3rd's  vote (or such  other  special  resolution
percentage as the law provides at that time).

4.02 Treasure shall have the right to buy all of the VCC Interest and all of the
VerifiedT  Interest (except the royalty below) at market value at the earlier of
the Joint Venture  generating $100 million in aggregate  revenue per year with a
minimum net margin of 25% or 5 years.  Market  value shall be  determined  by an
agreed valuator or, failing  agreement,  Treasure may hire a top-five  chartered
accountancy  firm to prepare a market value report and, absent material error of
standard calculation, such report shall be final.

4.03 The  Interests of the Parties  hereto shall not be  effected,  altered,  or
amended except  pursuant to the provisions of this Agreement or as  subsequently
agreed by the Parties hereto in writing.
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                                      -7-

5. FINANCE, SHARE PROVISIONS AND VCC LICENSE

5.01 As consideration for VerifiedT  contributing a license to the Joint Venture
and VCC admitting  Treasure to the Joint Venture to earn a 70% interest,  on the
terms below, Treasure shall provide the following:

     (a)  Treasure  shall employ  reasonable  best efforts to provide an initial
          $2,000,000US  of capital to the Joint  Venture by May 1, 2009 but this
          Joint Venture shall be effective as to  Treasure's  participating  70%
          interest from the Effective  Date. In the event that Treasure does not
          raise the said  funds  then  either of  VerifiedT  or VCC may elect to
          terminate this Agreement on sixty (60) days notice but should Treasure
          raise the said funds during such notice  period then the Joint Venture
          shall  continue to be  effective.  Treasure  shall not have a right to
          Revenue until it has raised the $2,000,000.  Of that first $2,000,000,
          US$250,000 shall be paid to VerifiedT as a license fee;
     (b)  Treasure shall employ reasonable best efforts to provide an additional
          $3,000,000US  as capital to the Joint Venture by July 1, 2009 of which
          US$500,000  shall be paid to  VerifiedT as a license fee. In the event
          that  Treasure  does not provide the said funds (which may be provided
          out of  Treasure's  portion of Joint  Venture  Revenue) then either of
          VerifiedT  or VCC may elect to invoke the  provisions  of  sub-section
          5.01(c); and
     (c)  Treasure  shall be  responsible  to fund all  on-going  costs and cash
          calls of the Joint  Venture not covered by Revenue.  In the event that
          Treasure  shall  not  be  able  to  supply  a  Joint  Venture  capital
          requirement, deficit or cash call at any time then either of VerifiedT
          or VCC may pay such  deficit  or cash call and such  shall be a demand
          debt (at 10% per annum simple interest  calculated monthly until paid)
          of Treasure to the paying  Parties or  VerifiedT  or VCC, if VCC pays,
          may  elect  to  convert  any such  Joint  Venture  deficit  or debt of
          Treasure to dilute Treasure  Interest by applying a dilution factor of
          one (1%) percent for Asset and Revenue  Interest (one percent point of
          JV-Co  participating  stock) for each  $100,000  of  deficiency  (such
          aggregate  diluted  interest called the "Dilution  Interest") but that
          Treasure  may  elect  to  repurchase  such  Dilution  Interest  at the
          aforesaid  cost plus  interest  within six (6) months of the  relevant
          Party making a particular election to acquire;
     (d)  Treasure  will permit (as a `call' by  VerifiedT  or VCC) and Treasure
          shall  have the right to  tender  to  shareholders  and  creditors  of
          VerifiedT  (but not for the  Class  "B"  convertible  shares)  and all
          shareholders  and  creditors of VCC to convert  their debts and shares
          into  Treasure  shares on a one for one basis subject to the following
          pre-conditions:

          (i)  Treasure having raised the funds of section 5.01(a) above and
          (ii) The  Joint  Venture  earning  gross  cash  flow of not less  than
               $100,000US per week.

          To accomplish this, subject to securities and tax advice for VerifiedT
          and VCC, Treasure shall effect a take-over offer,  merger or shall pay
          to VerifiedT as a license fee and to VCC as a Joint  Venture entry fee
          sufficient  common  shares to permit  VerifiedT  and VCC to buy in all
          such debt and  shareholders  as elect to surrender their VerifiedT and
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                                      -8-

          VCC equity.  As to  VerifiedT,  the method  shall be in such manner as
          result in a surrender of capital of the VerifiedT shareholders and not
          a transfer to Treasure or VCC.

5.02 VerifiedT shall provide an exclusive  license  ("License") of the VerifiedT
Assets to the Joint Venture with terms as follows:

     (a)  VerifiedT has granted or shall grant the  exclusive  License to all of
          its  present  business  and assets  including  the  internet  security
          software  and all other  internet  business of  whatsoever  nature and
          including all future developments of such business;
     (b)  The License shall be a world-wide  license with grant of all rights of
          use and exploitation and including rights to sub-license;
     (c)  The term of the license  will be 25 years with a right to renew for an
          additional 25 years on the same terms for a payment of $5,000,000US;
     (d)  In consideration for the License Verified T will receive;

          (i)  the cash payments of sections 5.01(a);
          (ii) ten (10%)  percent of Revenues of the Joint  Venture to a maximum
               of US$1,250,000  (this is separate from the VerifiedT  Interest);
               and
          (iii)a 3% gross  revenue  royalty  on all gross cash flow of the Joint
               Venture,  JV-Co and the Subs, where such gross cash flow shall be
               gross  revenue  less only direct  transaction  or sales taxes but
               before Costs and income taxes;

     (e)  All on-line internet business (Gateway) will bear a 10% carried equity
          interest  (equivalent  to a net  profits  interest)  to Ralph  and Zos
          Santos; and
     (f)  The  remainder  shall be standard  license  terms as to audit  rights,
          intellectual property protection and other standard terms.

6. CALCULATION OF REVENUE

6.01 Treasure  shall  receive 70% of the  Revenues,  VCC shall receive 5% of the
     Revenues  and  VerifiedT  shall  receive  25% of the  Revenues of the Joint
     Venture/JV-Co.  The  Revenue  of the  Joint  Venture  distributable  to the
     Participants  shall be  calculated  from gross revenue of the Joint Venture
     from all sources less Costs. Such Revenue shall be calculated before income
     tax and other such costs which are attributable  only to the  Participants.
     Revenues  shall be  distributed  at such time and in such  manner as may be
     determined in accordance with the policies of the Management Committee but,
     absent  agreement to the same,  shall be payable no less than quarterly and
     within thirty (30) days of each quarter.  The  Management  Committee  shall
     retain such  reserves  for  approved  budgets  and  working  capital as the
     Management  Committee  shall  consider  prudent.  In the  event of error of
     Revenue  calculation,  or if, for any other reason, a Party has received an
     attribution  or payment  greater than its  entitlement  then the Management
     Committee  may balance the Revenue  accounts,  by debits and credits to the
<PAGE>
                                      -9-

     Participant  upon the next Revenue  allocation  or may demand  repayment of
     excess  distributions and the relevant Participant shall refund such excess
     within thirty (30) days of demand.

7. OPERATOR

7.01      The Parties hereto agree that Treasure, or an Affiliate,  shall be the
          operator until replaced by the Management Committee or until such time
          as it  resigns  pursuant  to the terms of this  part.  Treasure  shall
          contract  VCC to act as  sub-Operator  through  JV-Co and the board of
          directors of JV-Co shall be established  as the Management  Committee.
          The Management  Committee shall be empanelled by election of the board
          of directors of JV-Co in the manner contemplated by this Agreement and
          hereafter all reference to the  Management  Committee  shall be to the
          board of directors of the JV-Co.

7.02      The  Operator  may at any  time on  ninety  (90)  days  notice  to the
          Management Committee resign as Operator, in which event the Management
          Committee shall select another Party, person or company to be Operator
          upon  the  90th  day  after  receipt  of  the  Operator's   notice  of
          resignation  or such  sooner  date  as the  Management  Committee  may
          establish  and give notice to the  resigning  Operator.  The resigning
          Operator  shall  thereupon  be released  and  discharged  from all its
          duties and obligations as Operator on the earlier of those dates, save
          only as to those duties and  obligations  that it  theretofore  should
          have performed.

7.03      The new Operator shall assume all the rights, duties,  liabilities and
          status of the previous  Operator as provided in this Agreement,  other
          than the previous Operator's Interest, if any, with such obligation to
          retain or hire any of the  employees  of the  former  Operator,  or to
          indemnify  the former  Operator  for any costs or  expenses  which the
          previous  Operator  may  incur as a result of the  termination  of the
          employment  of any of its  employees  resulting  from  this  change of
          Operator, as the Joint Venture has not assumed.

8. POWERS, DUTIES AND OBLIGATIONS OF OPERATOR

8.01      Subject to the control and direction of the Management Committee,  the
          Operator  shall have full right,  power and authority to do everything
          necessary or desirable to manage,  conduct,  and carry out the Project
          and to determine the manner of development of the Project and, without
          limiting the generality of the foregoing,  shall have the right, power
          and authority to:

          (a)  conduct such of the Project, the JV Assets, the JV Business,  and
               administration on such premises as it shall determine,  including
               its own  premises,  and  regulate  access  to the JV  Assets  and
               Project  subject  only to the  right  of  representatives  of the
               Parties to have access at all reasonable times for the purpose of
               inspecting  work  being  done  thereon  but at their own risk and
               expense;

          (b)  employ  and  engage any such  employees,  agents and  independent
               contractors  as it may  consider  necessary or advisable to carry
               out its duties and  obligations  hereunder and in this connection
<PAGE>
                                      -10-

          to  delegate  any of its powers  and rights to perform  its duties and
          obligations   hereunder,   but  the  Operator  shall  not  enter  into
          contractual  relationships  with a party  except  on terms  which  are
          commercially competitive; and

          (c)  execute all documents, deeds and instructions,  do or cause to be
               done all such acts and things and give all such assurances as may
               be  necessary  to maintain  good and valid title to the JV Assets
               and each Party hereby  irrevocably  constitutes  the Operator its
               true and lawful  attorney  to give  effect to the  foregoing  and
               hereby  agrees to indemnify  and save the Operator  harmless from
               any and all costs, loss or damage sustained or incurred,  without
               gross  negligence  or bad  faith  by the  Operator,  directly  or
               indirectly, as a result of its exercise of its powers pursuant to
               this sub-paragraph.

8.02      The Operator shall have the following  duties and  obligations  during
          the term hereof:

          (a)  to diligently  manage,  direct and control all development of the
               Project  and the JV Assets  in  accordance  with the  development
               plans of the Project approved by the Management  Committee and in
               compliance   with  all  applicable   laws,   rules,   orders  and
               regulations;

          (b)  provide  pro formas,  projections,  and budget  analysis  for the
               Project  for  assessment  by the  Management  Committee  and  the
               Operator shall prepare and submit reports on a quarterly basis to
               the Participants respecting operations of the Joint Venture;

          (c)  subject to provision  of funds,  subject to the  requirement  for
               operating loans and other commercial  facilities in the nature of
               leases or  otherwise  and subject to either party  retaining  the
               right to register its Interest for its own needs,  to keep the JV
               Assets in good standing and appropriately registered with service
               providers  and  registries  and clear of all liens,  charges  and
               encumbrances of every character  arising from operations  (except
               for those  created  pursuant  to this  Agreement  and the Project
               finance requirements)

          (d)  to  maintain  true and  correct  books,  accounts  and records of
               operations hereunder;

          (e)  to permit one  representative of the Parties on not less than one
               (1) business day notice, and at their expense, to inspect, audit,
               and copy the Operator's  accounts and records  relating to the JV
               Assets, Project development or to the determination of Revenue;

          (f)  to open and  maintain  on behalf of the Joint  Venture  such bank
               account or bank  accounts as the  Operator  may  determine or the
               Management Committee may direct;

          (g)  to prosecute and defend,  but not to initiate without the consent
               of the Management  Committee,  all  litigation or  administrative
               proceedings arising out of the JV Assets or the Project; and

          (h)  to transact,  undertake and perform all transactions,  contracts,
               employments,  purchases, operations,  governmental presentations,
               negotiations with third parties and any other matter or thing
<PAGE>
                                      -11-

               undertaken by or on behalf of the Joint Venture  hereunder in the
               Operator's name.

8.03      Subject to any specific provisions of this Agreement, the Operator, in
          carrying out its duties and obligations hereunder,  shall at all times
          be subject to the  direction and control of the  Management  Committee
          and  shall  perform  its  duties  hereunder  in  accordance  with  the
          instructions and directions as from time to time communicated to it by
          the Management  Committee and shall make all reports to the Management
          Committee except where otherwise  specifically  provided herein..  The
          Operator shall act in good faith and in the best interest of the Joint
          Venture at all times and conduct the affairs of the Joint Venture with
          a view to maximizing gross revenue of the Joint Venture.

9. MANAGEMENT COMMITTEE

9.0l      A Management  Committee,  consisting of at least one representative of
          VCC and  VerifiedT  and two  representatives  of  Treasure,  shall  be
          established  but  votes of such  committee  shall be  governed  by the
          percentages of voting  Interests of the  Participants.  The Management
          Committee  shall be the governing  body of the Joint Venture and shall
          be responsible for general management and control of the Joint Venture
          and for  determining  the  choice  of and  the  general  policies  and
          direction to be adopted by an Operator.

9.02      The  Management  Committee  shall  meet at least  once  quarterly  and
          otherwise  on ten  (10)  days  notice  given by the  Operator  or by a
          Participant. Such notices shall be accompanied by an agenda of matters
          to be  discussed  and/or  decided  at the  meeting.  Decisions  of the
          Management   Committee   shall  be  by  majority  vote.  Each  Party's
          Management Committee representatives shall be entitled to one vote for
          each one percent voting Interest held by such Party. A quorum shall be
          one  representative of each Party. If a quorum is not present then the
          meeting  shall be adjourned  one week and the members  present at such
          subsequent  meeting shall constitute a quorum. If there are any issues
          or  uncertainties  in respect to  procedure  or  authorities  then the
          Participants and their representatives shall adopt the laws, policies,
          and precedents  applicable to corporate law as if the Management was a
          board of directors of a public company in British Columbia.

9.03      The Joint  Venture  shall keep proper  accounting  records  (including
          financial  statements) in respect of all financial  transactions,  and
          shall keep such other records as may be  determined by the  Management
          Committee. The said records shall be kept at a place determined by the
          Management  Committee and may be inspected by any Party and any member
          of the Management Committee at any time during normal business hours.

10. PARTITION AND OPTION

10.01     No Party shall, during the term of this Agreement,  exercise any right
          to apply for any  partition  of the JV Assets and the  Parties  hereby
          waive any right to partition.
<PAGE>
                                      -12-

11. TAX BENEFITS AND WRITE OFFS

11.01     Each  Party on whose  behalf  any  Costs  have  been  incurred  and in
          proportion  to their  Interests  shall be  entitled  to claim  all tax
          benefits, write-offs and deductions with respect thereto.

12. RESTRICTIONS ON ALIENATION

12.01     Save and except as provided  elsewhere herein,  during the first three
          (3) years no Party shall transfer,  convey, assign,  mortgage or grant
          an option in  respect  of or grant a right to  purchase  or in any way
          transfer  or  alienate  all or any  portion of its  Interest or rights
          under  this  Agreement  except by  permission  of the  other  Parties.
          Thereafter the below right of first refusal shall first apply.

12.02     Nothing in this section shall prevent:

          (a)  a sale by any Party of any part of its Interest or an  assignment
               of any part of its rights  under this  Agreement  to an Affiliate
               provided that such  Affiliate  first complies with the provisions
               of  sub-paragraph  12.09 and  agrees  with the other  Parties  in
               writing to re-transfer such Interest to the originally  assigning
               Party before ceasing to be an Affiliate of such Party; or

          (b)  a   disposition   pursuant  to  an   amalgamation   or  corporate
               reorganization   which  will  have  the  effect  in  law  of  the
               amalgamated  or surviving  company  possessing  all the property,
               rights and interest and being  subject to all debts,  liabilities
               and obligations of each amalgamating or predecessor  company, and
               the same not constituting a change of control.

12.03     Any of the Parties  intending  to dispose of all or any portion of its
          Interest or rights under this  Agreement  (in this section  called the
          "Offeror")  shall first give  notice in writing to the other  Party(s)
          (in this section called the  "Offerees")  of such  intention  together
          with the terms and conditions on which the Offeror  intends to dispose
          of its Interest or a portion thereof or rights under this Agreement.

12.04     Any  communication  of an  intention  to sell  (the  "Offer")  for the
          purposes of this section shall be in writing and shall:

          (a)  set out in reasonable  detail all of the terms and  conditions of
               any intended sale;

          (b)  if  it  is  made   pursuant   to  a   proposed   sale  by  agent,
               advertisement, or otherwise, include a photocopy of the Offer and
               all other relevant documents; and

          (c)  if it is made pursuant to a third Party offer,  clearly  identify
               the offering  Party and include such  information  as is known by
               the Offeror about such offering Party;
<PAGE>
                                      -13-

          and such  communication  will be deemed to  constitute an Offer by the
          Offeror to the Offerees to sell the  Offeror's  Interest or its rights
          (or a portion  thereof as the case may be) under this Agreement to the
          Offerees on the terms and conditions set out in such Offer.

12.05     Any Offer made as  contemplated in  sub-paragraph  12.04 shall be open
          for  acceptance  by one or more  Offerees,  and if more than one, then
          pro-rata  by the  Offerees,  for a period of sixty  (60) days from the
          date of  receipt  by the  Offerees.  The  whole of the  Offer  must be
          accepted  and if there  are more  than  one  Offeree,  and one or more
          refuse their  pro-rata  portion,  then the same may be accepted by the
          other Offerees in whole, but pro rata if more than one.

12.06     If one or more of the Offerees accept the Offer, such acceptance shall
          constitute  a binding  agreement  of  purchase  and sale  between  the
          Offeror and the Offerees, or of such one or more of them as accept the
          Offer on the terms and conditions set out in such Offer.

12.07     If none of the  Offerees  accept the  Offer,  or do accept but fail to
          close the transaction contemplated thereby, the Offeror may complete a
          sale and  purchase  of its  Interest,  or a portion  thereof or rights
          under this  Agreement,  for up to six months  thereafter  on terms and
          conditions not less favorable to the Offeror than those set out in the
          Offer.

12.08     While any Offer is  outstanding,  no other Offer may be made until the
          first Offer is disposed of and any sale resulting  therefrom completed
          or abandoned in accordance with the provisions of this part.

12.09     Before  the  completion  of any  sale by a Party  of its  Interest  or
          rights, or any portion thereof,  under this Agreement,  the purchasing
          party  shall enter into an  agreement  with the Parties not selling on
          the same terms and conditions,  mutatis  mutandis,  as set out in this
          Agreement.

12.10     Each Party agrees that its failure to comply with the restrictions set
          out in this section would constitute an injury and result in damage to
          the other Parties  impossible to measure  monetarily and, in the event
          of such  failure,  the other  Parties  shall,  in addition and without
          prejudice  to any other  rights and  remedies at law or in equity,  be
          entitled to injunctive relief restraining or enjoining any sale of any
          Interest or rights under this  Agreement,  save in accordance with the
          provisions of this section,  and any Party intending to make a sale or
          making a sale contrary to the provisions of this section hereby waives
          any defense it might have in law to such injunctive relief.

13. CONFIDENTIALITY AND COMPETITION

13.1      From the Effective Date and during this  Agreement  neither Party will
          engage in any business which reasonably may detract from, compete with
          or conflict with the Joint Venture.

13.2      A Party  hereunder  will not,  except as authorized or required by the
          Party's  duties  hereunder  or as  flow  as a  consequence  of  law or
          contract (for example  consequent  upon  reporting  requirements  of a
          public company or consequent  upon a merger or consequent  upon a sale
<PAGE>
                                      -14-

          of  Interests by a Party  hereto),  reveal or divulge to any person or
          companies any Confidential Information concerning the Joint Venture or
          its Business or of any of the Parties or of any Affiliates,  which may
          come to the Party's  knowledge during this Agreement,  and the Parties
          will keep in complete  secrecy all  Confidential  Information and will
          not use or attempt  to use any such  Confidential  Information  in any
          manner which may injure or cause loss either directly or indirectly to
          the Joint Venture's Business.  This restriction will continue to apply
          after the termination of this Agreement without limit in point of time
          but will cease to apply to  information  or  knowledge  which may come
          into  the  public  domain  through  no act  or  fault  of the  alleged
          offending  Party.  During this  Agreement and for a period of one year
          following the  termination  the Party (the "LEAVING  PARTY") which has
          left the Joint  Venture  (whether by  default,  removal by loss of all
          Interest or removal by exercise of  Option),  excepting  only  wind-up
          with distribution to each Party of Joint Venture Assets (in which case
          both Parties shall be free to conduct the Business in the Territory in
          competition)  shall not enter  into any  activity  which  would  cause
          restriction or competition to the Business thereby  remaining with the
          other Party (the  "REMAINING  PARTY")  and,  without  restricting  the
          generality,  shall not enter into the service of any competitor, shall
          not provide to any party  Confidential  Information  which would allow
          such party to compete with the Remaining  Party,  shall not accept any
          position or effect any investment with a party which competes with the
          Remaining Party or which intends to compete with the Remaining  Party,
          nor take any steps which would  negatively  affect the Remaining Party
          including such acts as inducing  customers or members of the Remaining
          Party to leave  the  Remaining  Party.  The  Leaving  Party  will also
          refrain from effecting negative acts in respect to the Remaining Party
          both  including  refraining  from  such  acts as  spreading  false  or
          malicious  rumors,  comment,  or innuendo,  initiating  communications
          which bring the reputation of the Remaining Party in disfavor or under
          suspicion,  or otherwise  effecting negative acts or campaigns towards
          the Remaining Party.

13.3      The Parties  acknowledge that the Confidential  Information is crucial
          to the Business and to the Parties  individually and that in the event
          of  unauthorized  disclosure or use of the  Confidential  Information,
          which the Parties  acknowledge would be an act of bad faith as well as
          a breach of this  undertaking,  the damage will be  irreparable or the
          affected Party will not be adequately  compensated by monetary  award.
          Accordingly,  the offending Party agrees that in the event of any such
          breach,  the  affected  Party  shall be entitled as a matter of right,
          without  notice  and  prior to  service  of an  originating  action in
          British Columbia and on an ex parte  application,  to apply to a Court
          of competent  jurisdiction in British  Columbia,  for determination in
          accordance with British Columbia law, for relief by way of restraining
          order, injunction, decree or otherwise as may be appropriate to ensure
          compliance  with the  provisions  hereof.  The Parties  also agree and
          acknowledge  that  the  offending  Party  will  also  be  liable,   as
          liquidated  damages,  for an amount  equal to the amount  received and
          earned by the  offending  Party as a result of and with respect to any
          breach hereof,  in addition to any other losses the affected Party may
          suffer, including loss of economic opportunity.

13.4      Upon termination of this Agreement:

          (a)  The  Parties  hereby  acknowledge  and agree that all  personally
               possessed Joint Venture property,  including without  limitation,
               all books, manuals,  records,  reports, notes, contracts,  lists,
<PAGE>
                                      -15-

               and other documents,  Confidential Information,  copies of any of
               the  foregoing,  and  equipment  furnished  to or prepared by the
               Joint  Venture  or a  Party  for  such  and in the  course  of or
               incidental to the Business or this  Agreement,  all belong to the
               Joint Venture and shall be promptly returned to the Joint Venture
               upon  termination but that all VCC license rights,  and any Joint
               Venture developments thereof shall belong exclusively to VCC; and

          (b)  The Parties  acknowledge  that all  Confidential  Information  is
               received or developed in confidence and for the exclusive benefit
               of the Joint  Venture,  the VCC license (as  applicable)  and the
               successors  thereof.  During this  Agreement  and  thereafter  in
               accordance with this Agreement's restrictions,  Parties will not,
               directly or indirectly, except as required by the normal business
               of the Joint Venture or expressly  consented to in writing by the
               Management Committee:

               (i)  disclose,  publish  or  make  available,  other  than  to an
                    authorized person any Confidential Information;

               (ii) acquire,  possess for his own  interest,  sell,  transfer or
                    otherwise use or exploit any Confidential Information;

               (iii)permit the sale,  transfer,  or use or  exploitation  of any
                    Confidential Information by any third party; or

               (iv) retain upon  termination or expiration of this Agreement any
                    Confidential  Information,  any copies  thereof or any other
                    tangible or retrievable materials containing or constituting
                    Confidential Information;

14. FORCE MAJEURE

14.01     No  Party  will  be  liable  for its  failure  to  perform  any of its
          obligations  under this Agreement due to a cause beyond its reasonable
          control (except those caused by its own lack of funds) including,  but
          not limited to, acts of God, fire, storm, flood,  explosion,  strikes,
          lockouts,  or other industrial  disturbances,  riots,  laws, rules and
          regulations or orders of any duly constituted  governmental authority,
          including  environmental  protection agencies,  or non-availability of
          materials or transportation (each an "Intervening Event").

14.02     All time limits imposed by this Agreement will be extended by a period
          equivalent to the period of delay resulting from an Intervening Event.

14.03     A Party relying on the provisions of sub-paragraph 14.0l will take all
          reasonable steps to eliminate any Intervening  Event and, if possible,
          will perform its obligations under this Agreement as far as practical,
          but  nothing  herein will  require  such Party to settle or adjust any
          labour  disputes or to  question  or to test the  validity of any law,
          rule,  regulation,  or  order  of any  duly  constituted  governmental
<PAGE>
                                      -16-

          authority or to complete its  obligations  under this  Agreement if an
          Intervening Event renders it uneconomical or impossible of completion.

15. NOTICE

15.01     Any notice,  direction,  cheque or other  instrument or  communication
          required or  permitted  to be given under this  Agreement  shall be in
          writing and may be given by the delivery of the same or by mailing the
          same by prepaid registered or certified mail or by sending the same by
          telegram,   telex,   telecommunication   or  other   similar  form  of
          communication, in each case addressed to the intended recipient at the
          address of the respective Party set out on the first page hereof.

15.02     Any notice,  direction,  cheque or other  instrument or  communication
          will, if  delivered,  be deemed to have been given and received on the
          day it was delivered,  and if mailed, be deemed to have been given and
          received on the seventh  business  day  following  the day of mailing,
          except in the event of a  disruption  of the  postal  service in which
          event  notice  will  be  deemed  to be  received  only  when  actually
          delivered   on  the  address   and,  if  sent  by   telegram,   telex,
          telecommunications  or other similar form of communication,  be deemed
          to have been given or received on the day it was so sent.

15.03     Any Party may at any time give to the other  notice in  writing of any
          change of address of the Party  giving  such notice and from and after
          the giving of such notice the address or addresses  therein  specified
          will be deemed to be the  address  of such Party for the  purposes  of
          giving notice hereunder.

16. WAIVER

16.01     If any provision of this Agreement shall fail to be strictly enforced,
          or any Party shall consent to any action by any other Party,  or shall
          waive any  provisions  as set out  herein,  such  action by such Party
          shall not be construed as a general  waiver  thereof but only a waiver
          for the  specific  time that such  waiver or failure to enforce  takes
          place and  shall at no time be  construed  as a  consent,  waiver,  or
          excuse  for any  failure to perform  and act in  accordance  with this
          Agreement at any past or future occasion.

17. FURTHER ASSURANCES

17.01     Each of the Parties hereto,  shall from time to time and at all times,
          do all such further acts and execute and deliver all further deeds and
          documents as shall be  reasonably  required in order to fully  perform
          and carry out the terms of this  Agreement.  This section shall not be
          construed  as  imposing  any   obligation  on  any  Party  to  provide
          guarantees.
<PAGE>
                                      -17-

18. USE OF NAME

18.01     No Party shall,  except with written  permission  or when  required by
          this  Agreement,  or by any law,  by-law,  ordinance,  rule,  order or
          regulation,  use, suffer or permit to be used, directly or indirectly,
          the name of any other Party for any purpose  related to this Agreement
          or the Project.

19. ENTIRE AGREEMENT

19.01     This Agreement  embodies the entire agreement and understanding  among
          the  Parties   hereto  and   supersedes   all  prior   agreements  and
          undertakings,  whether oral or written, relative to the subject matter
          hereof.

20. AMENDMENT

20.0l     This  Agreement may not be changed  orally but only by an agreement in
          writing, executed by each of the Parties.

21. TERM

21.01     Unless earlier terminated by default or by agreement of all Parties or
          as a result of one  Party  acquiring  the  whole of the other  Party's
          Interest,  the Joint Venture and this  Agreement  shall remain in full
          force and effect for so long as any part of the Joint  Venture  Assets
          or Project is held or conducted in accordance with this Agreement, but
          such period not to exceed 50 years.

22. DEFAULT

22.01     No Party hereto  shall  purport to terminate  this  Agreement  for any
          event of default except pursuant to the terms of this part.

22.02     Except for  emergency  proceedings  in respect to a default by a Party
          which materially  jeopardizes the Project or finances or credit or the
          JV Assets,  no Party hereto  shall take  proceedings  for default,  or
          otherwise,  unless it has given the defaulting Party notice in writing
          of the nature and scope of the  default and the  defaulting  Party has
          failed to correct such default within ten (10) business days of notice
          of such default.

23. TERMINATION AND WIND-UP

23.01     Upon  termination of this Agreement for whatever cause, the Management
          Committee  shall  administer  wind-up of the Joint  Venture  and shall
          dispose  of JV  Assets  in such  manner  as the  Management  Committee
<PAGE>
                                      -18-

          determines,  consistent  with  this  Agreement,  the VCC  license  and
          practices of corporate law and practice,  and shall distribute the net
          JV Assets,  after  discharge of all  encumbrances,  in accordance with
          outstanding Interests.  At the time of wind-up of the Joint Venture or
          termination of the Project for any reason,  the  Management  Committee
          shall meet and approve a procedure for the retention,  maintenance and
          disposal of documents (the  "Documents")  and shall appoint such Party
          as may consent  thereto to ensure  that all proper  steps are taken to
          implement and maintain that  procedure.  If the  Management  Committee
          fails to approve a procedure as aforesaid,  the Operator,  if a Party,
          otherwise  a Party  holding  an  Interest  as at the date  immediately
          preceding the date the management  Committee was called to meet, shall
          retain,  maintain  and  dispose  of the  Documents  according  to such
          procedure,  in compliance  with all applicable  laws, as it deems fit.
          The Party  entrusted with the retention,  maintenance  and disposal of
          the Documents shall estimate the costs and expenses incidental thereto
          and shall be entitled to receive  payment of those costs and  expenses
          prior to any  distribution  being made of the  Assets or the  revenues
          received on the disposal thereof.

24. ENUREMENT

24.01     This  Agreement  shall enure to the benefit of and be binding upon the
          Parties hereto and their respective successors and permitted assigns.

25. GOVERNING LAW AND COMPLIANCE

25.01    This Agreement  shall be governed by and interpreted in accordance with
         the laws of the Province of British  Columbia.  The Parties will comply
         with all Canadian,  U.S. and foreign laws, whether federal,  provincial
         or state, applicable to the Parties hereunder.

26. SEVERABILITY

26.01     If any  one or more  of the  provisions  contained  herein  should  be
          invalid,  illegal or unenforceable in any respect in any jurisdiction,
          the validity,  legality and enforceability of such provision shall not
          in any way be affected or impaired thereby in any other  jurisdiction,
          and  the  validity,  legality  and  enforceability  of  the  remaining
          provisions  contained  herein  shall  not in any  way be  affected  or
          impaired thereby.

27. HEADINGS

27.01     The  division of this  Agreement  into  articles  and sections and the
          insertion of headings are for  convenience of reference only and shall
          not affect the construction or interpretation of this Agreement.
<PAGE>
                                      -19-

28. TIME OF THE ESSENCE

28.01     Time shall be of the essence in the performance of this Agreement.

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

VERIFIED TRANSACTIONS CORP.         )
hereunto executed by:               )
                                    )
                                    )
/s/ signed                          )
------------------------------------
Authorized Signatory                )

VERIFIED CAPITAL CORP.              )
hereunto executed by:               )
                                    )
                                    )
/s/ signed                          )
------------------------------------
Authorized Signatory                )

TREASURE EXPLORATIONS INC           )
hereunto executed by:               )
                                    )
                                    )
/s/ signed                          )
------------------------------------
Authorized Signatory                )
<PAGE>
                                      -20-

                                  SCHEDULE "A"

                          TREASURE ASSETS CONTRIBUTED

1.   the use of  facilities  of  Treasure  or of its  affiliates  at  reasonable
     commercial rates (in this Agreement reasonable  commercial rates shall mean
     only a 5% mark-up unless the Parties otherwise agree);

2.   conduct as Operator at reasonable commercial rates;

3.   provision of capital of the Joint Venture

<PAGE>
                                      -21-

                                  SCHEDULE "B"

                          VERIFIEDT ASSETS CONTRIBUTED

1.   License for the Business for the Territory

<PAGE>
                                      -22-

                                  SCHEDULE "C"

                             VCC ASSETS CONTRIBUTED

1.   the use of facilities of VCC or of its affiliates at reasonable  commercial
     rates;

2.   conduct as sub-contracted Operator at reasonable commercial rates;

3.   provision  of  capital  of the Joint  Venture  in the event of  failure  of
     Treasure.

<PAGE>
                                      -23-

                                  SCHEDULE "D"

                                  THE PROJECT

VerifiedT  has or will,  upon  demand,  license  the  entirety  of its  Business
world-wide to JV-Co of the VerifiedT/VCC  Joint Venture as to all of VerifiedT's
business on the  Effective  Date  hereof and all  developments  and  developable
aspects of the same  including  all  aspects  of its  on-line  business  and all
aspects of its security software for financial transactions.exhibit101.htm

    Exhibit
10.1

    Employment Agreement

     

    This
Employment Agreement (this “Agreement”), entered into and
made effective as of February 18, 2009 (the “Appointment Date”), is by and
among, LIN TV Corp., a Delaware corporation (“Parent”), and LIN Television
Corporation, a Delaware corporation with its headquarters in Providence, Rhode
Island, and a wholly-owned subsidiary of the Parent (the “Company” and, together with
Parent, the “LIN
Companies”), and Nicholas N. Mohamed, an
individual whose current residence is 172 Irving Avenue, Providence, Rhode
Island 02906 (the “Executive”).

     

    RECITALS:

     

    Whereas,
the board of directors of Parent (the “Board of Parent”) and the
board of directors of the Company, respectively, appointed Executive to the
offices of Vice President Finance of each of the LIN Companies, which
appointment shall become effective on the Appointment Date;

     

    Whereas,
each of Parent and the Company desire that the Company employ Executive as Vice
President Finance of the Company, and Executive desires to be employed by the
Company in such position, in accordance with the terms and subject to the
conditions provided herein;

     

    Now,
Therefore, in
consideration of the foregoing and of the respective covenants and agreements of
the parties herein contained, the parties hereto, intending to be legally bound
hereby, agree as follows:

     

    1. Employment.  The
Company shall employ Executive and Executive hereby agrees to serve the LIN
Companies on the terms and conditions set forth herein.

     

    2. Service
Period.  The term of this Agreement and Executive’s employment
hereunder (the “Service
Period”) shall be deemed to have commenced as of the Appointment Date and
shall continue thereafter until the effective date of termination pursuant to
the terms and subject to the conditions of this Agreement.  For the
avoidance of doubt, Executive’s employment will be on a continuous basis unless
Executive’s employment is terminated pursuant to Section 8 of this
Agreement.

    

    3. Position and
Duties.  During the
Service Period, Executive shall serve as the Vice President Finance of each of
the LIN Companies, reporting to the Senior Vice President Chief Financial
Officer (“SVP-CFO”) of
each of the LIN Companies and, subject to the LIN Companies’ respective
Certificates of Incorporation and By-Laws, shall have such authority and duties
as may be granted or assigned from time to time by the SVP-CFO of the LIN
Companies.  Subsequent to the filing of the LIN Companies’ annual
report on Form 10-K with the Securities and Exchange Commission (currently
anticipated to be filed on or about March 16, 2009), Executive’s title shall be
changed to Vice President Controller and Executive shall also be considered the
Chief Accounting Officer for the LIN Companies.  All other provisions
of this Agreement shall remain unchanged upon this change in title.

     

    
      
        
        

      

      
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    4. Attention and
Effort.  Executive covenants and agrees, at all times during
the Service Period, to devote his full business-time efforts, energies and
skills to his duties as contemplated by Section 3 above, to serve each of the
LIN Companies diligently and to the best of Executive’s ability and at all times
to act in compliance with the rules, regulations, policies and procedures of the
LIN Companies as shall be in effect from time to time.  Executive
further covenants and agrees that he will not, directly or indirectly, engage or
participate in any other business, profession or occupation for compensation or
otherwise at any time during the Service Period which conflicts with the
business of the LIN Companies, without the prior written consent of the Board of
Parent; provided, that nothing herein shall preclude Executive from accepting
appointment to or continuing to serve on any board of directors or trustees of
any charitable or not-for-profit organization or from managing his personal,
financial or legal affairs; provided, in each case, and in the aggregate, that
such activities do not materially conflict or interfere with the performance of
Executive’s duties hereunder or conflict with Sections 10, 11 or 12 of this
Agreement in any material respect.

     

    5. Compensation
and Other Benefits.

     

    (a) During
the Service Period, Executive shall be paid by the Company an annual base salary
in an amount equal to One Hundred Eighty Thousand Dollars ($180,000) (the “Base Salary”), payable in
accordance with the Company’s normal payroll practices.  The Base
Salary shall be reviewed by the Compensation Committee of the Board of Parent no
less often than once each calendar year and may be increased, but not decreased,
based on such a review.

     

    (b) Executive
shall be eligible to receive, in addition to the Base Salary described above, an
annual bonus payment (a “Performance Bonus”) in an
amount up to Sixty Three Thousand Dollars ($63,000) for such year (a “Performance Bonus Amount”) to
be determined by December 31, 2009, and thereafter, the last day of each
calendar year during the Service Period, or as soon thereafter as practicable,
but in no event later than March 15 of the subsequent calendar year, as
follows:

     

    (i) Executive
shall be eligible to receive a bonus payment in an amount up to 75% of the
Performance Bonus Amount, which bonus payment, if any, shall be determined in
the sole discretion of the SVP-CFO of the LIN Companies and the Compensation
Committee, based upon such factors as each may determine to be relevant, which
may include the performance of the LIN Companies and Executive, general business
conditions, and the relative achievement by Executive or the LIN Companies of
any goals established by the SVP-CFO, the Board of Parent or the Compensation
Committee.

     

    (ii) Executive
shall be eligible to receive a bonus payment calculated as set forth in this
paragraph (ii) using a baseline bonus amount equal to twenty-five percent (25%)
of the Performance Bonus Amount (the “Results Bonus Base
Amount”).  The amount of the bonus awarded to Executive, if
any, under this paragraph (ii) (the “Results Bonus”) shall be an
amount calculated as a percentage of the Results Bonus Base Amount (the “Results Bonus
Percentage”).  The Results Bonus Percentage shall be the
percentage set forth on Schedule 5(b)(ii)(A) hereto
that corresponds to the respective percentages by which Parent has achieved the
EBITDA and revenue targets established by the Board of Parent for the applicable
year, as determined by the Compensation Committee of the Board of Parent (the
“Budget
Target”).  The parties acknowledge and agree that for
convenience of reference Schedule 5(b)(ii)(B) shows
for illustrative purposes the amount of the Results Bonus corresponding to each
Results Bonus Percentage reflected on Schedule 5(b)(ii)(A), and the
parties further acknowledge that such figures shall be subject to adjustment in
the event of any change to the Results Bonus Base Amount and, in the event of
any conflict between Schedules
5(b)(ii)(A) and 5(b)(ii)(B), Schedule 5(b)(ii)(A)
shall control.

     

    
      
        
        

      

      
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    6. Benefits and
Expenses.  Executive shall receive from the Company such other
benefits as may be granted to senior management of the Company generally,
including health, dental, life and disability insurance and vacation
benefits.  In addition, Executive shall be provided with an automobile
allowance in accordance with the Company’s then-current plan.  The
Company shall reimburse Executive for all reasonable travel, entertainment and
other expenses which Executive may incur in regard to the business of Company or
Parent, in accordance with and subject to the limitations of the Company’s
standard practices and policies and Executive’s presentation of such documents
and records as Company shall require to substantiate such
expenses.  Executive shall be entitled to the same vacation benefits
as are generally available to other executives of the Company.

     

    7. Incentive
Equity.  Parent shall grant to Executive an option (the “Option Grant”), as of the
Appointment Date, to purchase 40,000 shares of Parent’s Class A Common Stock,
par value $0.01 per share pursuant to the terms and subject to the conditions of
the LIN TV Corp. Amended and Restated 2002 Stock Plan (the “Option Plan”) and as further
evidenced by that certain Nonqualified Stock Option Letter Agreement, dated on
or about the date hereof, by and between Parent and Executive (the “Option
Agreement”).  The Option Grant shall be on the terms and
conditions of the Option Plan and the Option Agreement; provided, however, that (a)
for purposes of the Option Grant, and notwithstanding anything to the contrary
contained in the Option Agreement, the term “Cause” shall have the meaning
ascribed to such term in this Agreement; and (b) in the event of a Change in
Control (as hereinafter defined in Section 24) (and notwithstanding the
definition of such term in the Option Agreement) the vesting of the Option Grant
shall accelerate and shall be deemed fully vested as of such Change in
Control.  For the avoidance of doubt, the vesting of the Option Grant
shall not accelerate in the event of any termination of this Agreement,
including upon a termination Without Cause or with Good Reason; provided, however, that if
Executive is able to demonstrate that (i) he was terminated by the LIN Companies
Without Cause in anticipation of a Change in Control and (ii) such
anticipated Change in Control occurs, then Executive will be deemed for purposes
of the Option Grant, to have remained employed through the consummation of the
Change in Control, and the vesting of the Option Grant shall accelerate as
described in the preceding sentence.

     

    8. Termination.  This
Agreement and the employment of Executive hereunder may be terminated as
follows:

     

    (a) By the LIN Companies for
“Cause.”  Subject to such other terms of this Agreement, the
LIN Companies may terminate this Agreement and the employment of Executive
hereunder for “Cause” by
action of the Board of Parent if the Executive:

     

    (i) has
been convicted of, or entered a pleading of guilty or nolo contendre (or its
equivalent in the applicable jurisdiction) to any criminal offense (whether or
not in connection with the performance by Executive of his obligations and
duties under this Agreement), excluding offenses under road traffic laws, or
misdemeanor offenses, that are subject only to a fine or non-custodial
penalty;

     

    (ii) has
committed an act or omission involving dishonesty or fraud;

     

    (iii) has
willfully refused or willfully failed to perform his obligations and duties
under this Agreement or the duties properly assigned to him in accordance with
the terms and conditions of this Agreement, and Executive has the physical
capacity to perform such obligations or duties; or

     

    (iv) has
engaged in gross negligence or willful misconduct with respect to any of the LIN
Companies or any of their affiliates or subsidiaries.

     

    
      
        
        

      

      
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    (b)  By the LIN Companies “Without
Cause.”  The LIN Companies may terminate this Agreement and the
employment of Executive hereunder at any time, in Parent’s sole discretion, for
any reason whatsoever or for no reason, which termination shall constitute a
termination “Without
Cause.”

     

    (c)  By Executive for Good
Reason.  Executive may terminate this Agreement and his
employment hereunder in the event of any of the following (each of which shall
constitute “Good
Reason”) and the LIN Companies shall have failed to have reasonably
remedied such condition within thirty (30) days following written notice from
Executive setting forth in reasonable detail the condition giving rise to such
Good Reason:

     

    (i) either
of the LIN Companies fails to perform its respective obligations or breaches any
of its covenants or warranties under this Agreement;

     

    (ii) the
relocation of Executive’s primary office to a location that is more than
thirty-five (35) miles from both of (A) the Company’s headquarters
in Rhode Island, unless such office is moved closer to Executive’s primary
residence at the time of such relocation, and (B) Executive’s residence at
the time of such relocation; or

     

    (iii) the
Board of Parent or the board of directors of the Company approves, without
Executive’s consent or for reasons other than those set forth in Section 8(a),
(A) a reduction in
Executive’s Base Salary or the Performance Bonus Amount, or (B) the assignment to
Executive of any duties inconsistent in any material respect with, or effect a
material diminution of, Executive’s duties, titles, offices, or responsibilities
(including direct-reporting responsibilities) with the Parent or the Company, or
any demotion of Executive from, or any failure to reelect or reappoint Executive
to any of such positions (except in connection with the termination of
Executive’s employment for disability or Cause or as a result of Executive's
death); provided, however,
that with respect to the foregoing clause (B) if subsequent to a Change
in Control (as hereinafter defined in Section 24), Executive maintains over the
business of the Company substantially the same authority and responsibility with
respect thereto that he held prior to such Change in Control, the requirement
that the Executive report to officers or the board of parent companies, or a
change in the title of Executive, shall not of itself constitute “Good
Reason.”

     

    (d)  By Executive Without Good
Reason.  Executive may terminate this Agreement and his
employment hereunder at any time, for any reason, upon giving to the LIN
Companies thirty (30) days’ written notice of termination of this Agreement and
Executive’s employment hereunder pursuant to this Section 8(d) (“Notice of Resignation”),
during which notice period Executive’s employment and performance of services
will continue; provided,
however, that Parent may, upon notice to Executive and without reducing
Executive’s compensation during such period, excuse Executive from any or all of
his duties during such period.  The effective date of the termination
of Executive’s employment hereunder shall be the date specified in the Notice of
Resignation delivered in accordance with this Section 8(d).

     

    (e)  Automatic Termination Upon Death or
Disability.  This Agreement and Executive’s employment
hereunder shall terminate automatically upon the death or “total disability” of
Executive.  The term “total disability” as used
herein shall mean Executive’s inability, with or without reasonable
accommodations, to perform the duties of Executive contemplated by Section 3
hereof for a period of, or periods aggregating, six (6) months in any twelve
(12) month period as a result of physical or mental illness, loss of legal
capacity or any other cause beyond Executive’s control, unless Executive is
granted a leave of absence by the Board of Parent.  All determinations
as to whether Executive has suffered total disability due to physical or mental
illness, loss of capacity or any other medical cause shall be made by a
physician who is mutually agreed upon by Executive and a majority of the members
of the Nominating and Corporate Governance Committee of the Board of
Parent.  Executive and the LIN Companies hereby acknowledge that
Executive’s ability to perform the duties set forth in Section 3 hereof is of
the essence of this Agreement.  Termination under this Section
8(e) shall be deemed to be effective (i) as of the time of
Executive’s death or (ii) immediately upon
determination of Executive’s total disability, as defined above, by a physician
mutually agreeable to Executive and the Board of Parent.

     

    
      
        
        

      

      
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    9. Severance for
Termination Without Cause or Resignation With Good Reason.

     

    (a) Subject
to the terms and conditions of this Section 9 set forth below, solely in the
event that this Agreement and Executive’s employment hereunder is terminated
(y) by the LIN
Companies Without Cause pursuant to the terms and subject to the conditions of
Section 8(b) hereof; or (z) by Executive with Good
Reason pursuant to the terms and subject to the conditions of Section 8(c)
hereof, then:

     

    (i) The
Company shall pay to Executive a severance payment (the “Severance Payment”) in an
amount equal to the sum of (A) Executive’s Base Salary in
effect at the time of such termination and (B) the aggregate amount, if
any, of the Performance Bonus most recently awarded to Executive pursuant to
Section 5(b) prior to such termination; provided, however, that if
such termination occurs prior to the award of Executive’s initial Performance
Bonus under this Agreement (or the determination that no such award shall be
made), the payment under this clause (B) shall be the maximum applicable
Performance Bonus that would otherwise be due had Executive remained employed
with the Company.  The Severance Payment shall be due and payable in
twenty six (26) substantially equal bi-weekly payments following such
termination; provided,
however, that the payment of the portion of the Severance Payment
comprised of any Performance Bonus based upon the determination of the
achievement of certain results may be deferred as necessary until the Company
has made the necessary determinations.

     

    (ii)  In
addition, during the twelve-month period following a termination giving rise to
the Severance Payment, the Company shall continue to pay the employer’s normal
portion of the costs of Executive’s health and dental insurance premiums in an
amount consistent with that paid on the date of termination, provided that
Executive chooses to participate in COBRA or a similar health insurance
continuation program and provides the Company with proof of such
participation.  If Executive chooses to receive COBRA coverage from
the Company’s group health plans during this twelve-month period, such coverage
shall count toward the maximum coverage period permitted under such
plan.

     

    (b) The
payment of the Severance Payment and the provision of the benefits described in
this Section 9 are expressly contingent on Executive’s execution of a standard
severance and release agreement containing only a release of any and all claims
by him against the LIN Companies and all predecessors, successors, affiliates
and subsidiaries thereof, except for claims relating to (i) the Severance
Payment and other post-employment payments and benefits due pursuant to the
terms and subject to the conditions of this Agreement; (ii) claims for
benefits under the employee benefit plans of the LIN Companies in which
Executive participates, and (iii) claims for indemnification or insurance, if
applicable, arising following his employment.  Notwithstanding
anything to the contrary contained herein, Employer retains the right to
terminate the initiation or continuation of the Severance Payment and other
benefits described in this Section 9 and to recover from Executive any and all
amounts previously paid (as well as to pursue any other remedies available at
law or in equity) if it discovers that Executive engaged in any fraud, theft,
embezzlement, serious or substantial misconduct materially injuring the LIN
Companies’ reputation, or gross negligence while employed by the Company or if
Executive materially breaches this Agreement, including any breach by Executive
of his obligations and covenants under Sections 10, 11, or 12
hereof.

     

    (c)  Subject
to such adjustments as may be necessary in accordance with the proviso set forth
in the last sentence of Section 9(a)(i), all payments made under this Section 9
shall be made to Executive at the same interval as payments of salary were made
to Executive immediately prior to termination.  Notwithstanding the
foregoing or anything to the contrary contained herein, if the Company
determines that Executive is a “Specified Employee” within the meaning of
Section 409A(a)(2)(B)(i) of the Code (as hereinafter defined), or any successor
thereto or as such may be amended hereafter (“Section 409A”), then to the
extent necessary to satisfy the requirements of Section 409A, any portion of the
severance compensation under this Section 9 that shall constitute deferred
compensation within the meaning of Section 409A shall not be due and payable to
Executive until the date that is six (6) months after the date of termination,
if necessary to avoid tax penalties under Section 409A.  In the event
of such delay in payment, on the day following the expiration of such six month
period Executive shall be paid the delayed portion of the severance compensation
plus interest for the period of such delay, which interest shall be calculated
at a rate equal to the interest rate then earned by the LIN Companies’ excess
cash balances on bank deposit.

     

    (d)  Except
as expressly provided in paragraph (a) above, upon the termination of this
Agreement and Executive’s employment hereunder (including for Cause or without
Good Reason, or upon death or total disability pursuant, respectively, to
Sections 8(a), 8(d) and 8(e)), Executive shall not be entitled to any payments
hereunder, other than for Accrued Obligations, which the Company shall pay to
Executive in a lump sum immediately following such termination.  For
purposes of this Agreement, “Accrued Obligations” shall
mean the sum of (i) any portion of Executive’s accrued but unpaid Base Salary
through the date of death or termination of employment, as the case may be; (ii)
any accrued but unpaid vacation or expense reimbursements; (iii) any then
declared but unpaid Performance Bonus, as applicable, with respect to the fiscal
year preceding the fiscal year in which the termination occurs; (iv) any
(A) Performance Bonus for the fiscal year in which the termination occurs,
as applicable, pro rated for service through the date of termination (and, if
not determined as of the date of termination, such payment, if any, to be due
and payable reasonably following the determination of such amounts) or (B)
Performance Bonus earned for that year if termination occurs at the end of the
year but prior to payment; provided, however, Executive
shall receive no payment under (A) or (B) upon a termination by the LIN
Companies for Cause; and (v) any compensation previously earned but deferred by
Executive (together with interest, to the extent and in the manner applicable
pursuant to terms and subject to the conditions of Section 9(c)) prior to the
date of termination that has not yet been paid.

     

    
      
        
        

      

      
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    10. Non-Disclosure.

    

    (a) Executive
acknowledges that during the period of his employment with the Company during
the Service Period he will have, access to trade secrets and other confidential
or proprietary information of the LIN Companies and their respective affiliates
and subsidiaries (“Confidential
Information”).  Executive acknowledges that as used herein,
Confidential Information includes, but is not limited to, all methods,
processes, techniques, practices, pricing information, billing histories,
customer lists or requirements, employee lists, salary information, personnel
matters, financial data, operating results, plans, contractual relationships,
projections for new business opportunities for new or developing businesses,
research, reports, and technological innovations in any stage of
development.  Confidential Information also includes, but is not
limited to, all notes, records, software, drawings, handbooks, manuals,
policies, contracts, memoranda, sales files, or any other documents generated or
compiled by any employee of the LIN Companies or any of its respective
affiliates or subsidiaries.  Notwithstanding the foregoing,
Confidential Information shall not include any data or information that has been
voluntarily disclosed to the public or the LIN Companies’ respective competitors
by either of the LIN Companies (except where such public disclosure has been
made by Executive or another without authorization) or that has been
independently developed and disclosed by others, or that otherwise enters the
public domain through lawful means.

     

    (b) Executive
agrees that, both during the Service Period and after the termination of his
employment hereunder for any reason, he will use his reasonable best efforts and
utmost diligence to preserve, protect, and prevent the disclosure of such
Confidential Information, and that he will not, either directly or indirectly,
use, misappropriate, disclose or aid any other person in disclosing such
Confidential Information, unless done so on behalf of the LIN Companies or to
the extent required by law.

     

    (c) All
Confidential Information is, and shall remain, the exclusive property of the LIN
Companies, and Executive hereby covenants and agrees that he shall promptly
return all such information to the LIN Companies upon termination of this
Agreement or at any other time when requested by the LIN Companies.

     

    11. Non-Competition.

    

    (a)  During
the Service Period and for one (1) year after the termination of this Agreement
for any reason, whether with or Without Cause or whether upon resignation with
or without Good Reason, Executive shall not Compete (as hereinafter defined)
with any material business then conducted by the LIN Companies or their
respective affiliates or subsidiaries (collectively, “LIN”) without the prior
written consent of the LIN Companies; except that, notwithstanding this Section
11, Executive may perform any duties on behalf of the LIN Companies as the Board
of Parent shall approve and direct.  For purposes of this Agreement,
the term “Compete” shall
mean engaging in a business as a more than five percent (5%) stockholder or
other holder of a five percent (5%) or greater equity interest of any Person (as
hereinafter defined in Section 24) (whether direct or indirect, including the
right to acquire such percentage equity interest), as an employee, a partner, an
agent, a consultant, or any other individual representative capacity of, to or
for any Person, as an officer of any Person, or a member of the board of
directors, board of managers, or other managing body of such Person (unless
Executive’s duties, responsibilities, and activities, including supervisory
activities, for or on behalf of such Person or in such business are not related
in any way to such “competitive” activity) if it involves:

     

    

    (i) owning
or Managing (as defined below in Section 24) one or more local television
stations in any designated market area in which the Company or any direct or
indirect subsidiary thereof (a “Subsidiary”) owns or Manages,
one or more local television stations (the “Restricted Markets”);
or

     

    (ii)  rendering
services or advice pertaining to the business or operation of television
stations in a Restricted Market, or on behalf of, any Person which is in
competition with the Company or any of its affiliates or
subsidiaries.

     

    (b) Upon
and subject to reasonable notice and information being provided to the LIN
Companies by Executive prior to Executive’s entering into a position or
association which may cause Executive to engage in activities in breach of
paragraph (a) above, Parent will conduct a timely review of such proposed
position or association and notify Executive in writing regarding Parent’s view
as to whether Executive will thereby breach the terms and conditions of
paragraph (a) above.

     

    
      
        
        

      

      
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    12. Non-Solicitation.  Executive
agrees that, during the twelve (12) month period immediately following
termination of this Agreement, for whatever reason, with or without Cause or
whether by resignation with or without Good Reason, Executive shall not directly
or indirectly solicit, influence or entice, or attempt to solicit, influence or
entice, or hire any executive, employee, or consultant of LIN to cease his
relationship with LIN or solicit, influence, entice or in any way divert any
customer, distributor, partner, joint venturer or supplier of LIN to terminate
such person’s relationship with LIN, in order to be employed by or do business
with a Person that Competes with the LIN Companies or with any other entity that
derives benefit from the production, marketing, broadcasting or other
distribution or syndication of products, services, programs or other content
that compete with products then produced or services, programs or other content
then being provided, marketed, broadcast, distributed or syndicated by LIN or
the feasibility for production of which LIN is then actually studying or is
preparing to market or is developing; provided, however, that this
Section 12 shall apply only within the geographic area set forth in Schedule 12
hereto.

    

    13. Acknowledgment of
Restrictive Covenants.  Executive acknowledges that the
covenants specified in Sections 10, 11, 12, and 15 hereof (collectively, the
“Protective Provisions”)
contain reasonable limitations as to time, geographic area, and scope of
activities to be restricted and that such promises do not impose a greater
restraint on Executive than is necessary to protect the goodwill, Confidential
Information, trade secrets, customer and employee relations, and other
legitimate business interests of the LIN Companies.  Executive also
acknowledges and agrees that any violation of the covenants set forth in the
Protective Provisions would bestow an unfair competitive advantage upon any
Person, which might benefit from such violation, and would necessarily result in
substantial and irreparable damage and loss to the LIN Companies.

    

    14. No Inconsistent
Obligation.  In order to induce the LIN Companies to enter into
this Agreement, Executive represents and warrants to each of the LIN Companies
that neither the execution nor the performance of this Agreement by Executive
will violate or conflict in any way with any other agreement to which Executive
may be bound, or with any other duties imposed upon Executive by corporate or
other statutory or common law.

     

    15. Intellectual
Property.  Executive and the LIN Companies hereby covenant and
agree that all intellectual property of any kind, whether now or later created,
developed or produced, developed by Executive, whether directly or indirectly,
in connection with services rendered by Executive for or on behalf of the LIN
Companies, or from the use of premises or property owned, leased, licensed or
contracted for by the LIN Companies, both prior to and subsequent to the date of
this Agreement, or otherwise developed by Executive during the Service Period
which is in any way related to the Company's business, as conducted or proposed
to be conducted, shall be the property of the Company.  Executive
hereby assigns to the Company any and all rights and interests he now has or may
hereafter acquire in and to such intellectual property.

    

    16. Notice.  For
purposes of this Agreement, notices and all other communications provided for in
this Agreement shall be in writing and shall be deemed to have been duly given
(a) on the date of delivery when delivered by hand, (b) on the date of
transmission when sent by facsimile transmission during normal business hours
with telephone confirmation of receipt, (c) one day after dispatch when sent by
reputable overnight courier maintaining records of receipt, or (d) three days
after dispatch when sent by registered or certified mail, postage prepaid,
return receipt requested, all addressed as set forth on Schedule 16 attached hereto
or to such other address as either party may have furnished to the other in
writing in accordance herewith, except that notices of change of address shall
be effective only upon receipt.

    

    
      
        
        

      

      
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    17. Injunctive
Relief; Cumulative Rights.  The parties agree that, without
limitation of the rights of the LIN Companies with respect to any other breach
of this Agreement, the harm to each of the LIN Companies arising from any breach
by Executive of the Protective Provisions could not adequately be compensated
for by monetary damages, and accordingly each of the LIN Companies shall, in
addition to any other remedies available to it at law or in equity, be entitled
to seek and, if so ordered by a court of competent jurisdiction, obtain,
preliminary and permanent injunctive relief against such
breach.  Executive agrees that the various provisions of this
Agreement shall be construed as cumulative, and no one of them is exclusive of
the other, or exclusive of any rights allowed by law.

     

    18. Withholding.  Anything
in this Agreement to the contrary notwithstanding, all payments required to be
made by the Company hereunder to Executive shall be subject to the withholding
of such amounts relating to taxes as the Company may reasonably determine it is
legally required to withhold pursuant to any applicable law or
regulation.  In lieu of withholding such amounts, in whole or in part,
the Company may, in its sole discretion, accept other provisions for payment of
taxes and withholdings as required by law, provided it is satisfied that all
requirements of law affecting its responsibilities to withhold have been
satisfied.

     

    19. No
Waiver.  No provision of this Agreement may be modified, waived
or discharged unless such waiver, modification or discharge is agreed to in
writing signed by Executive and such officer or director as may be specifically
designated by the Company.  No waiver by either party hereto at any
time of any breach by the other party hereto of any condition or provision of
this Agreement to be performed by such other party shall be deemed a waiver of
any similar or dissimilar provision or condition at the same or at any prior or
subsequent time.  Except where the context otherwise requires,
wherever used the singular shall include the plural, the plural the singular,
the use of any gender shall be applicable to all genders and the word “or” is
used in the inclusive sense.

     

    20. Severability.  If any covenant
or provision hereof is determined to be void or unenforceable in whole or in
part, it shall not be deemed to affect or impair the invalidity of any other
covenant or provision, each of which is hereby declared to be separate and
distinct.  If any provision of this Agreement is so broad as to be
unenforceable, such provision shall be interpreted to be only so broad as is
enforceable.  If any provision of this Agreement is declared invalid
or unenforceable for any reason other than overbreadth, the offending provision
will be modified so as to maintain the essential benefits of the bargain among
the parties hereto to the maximum extent possible, consistent with law and
public policy.

     

    21. Amendment.  No
amendment, modification, waiver, termination or discharge of any provision of
this Agreement, or consent to any departure therefrom by either party hereto,
shall in any event be effective unless the same shall be in writing,
specifically identifying this Agreement and the provision intended to be
amended, modified, waived, terminated or discharged and signed by each of the
LIN Companies and Executive, and each such amendment, modification, waiver,
termination or discharge shall be effective only in the specific instance and
for the specific purpose for which it is given.  No provision of this
Agreement shall be varied, contradicted or explained by any oral agreement,
course of dealing or performance or any other matter not set forth in an
agreement in writing and signed by each of the LIN Companies and
Executive.

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    22. Choice of Law and
Forum.  This Agreement shall be governed by, and construed in
accordance with, the laws of the State of Rhode Island.  Employee
hereby (a) submits to personal jurisdiction in the State of Rhode Island
for any action arising out of or in connection with this Agreement; (b) waives
any and all personal rights under the laws of any state to object to
jurisdiction within the State of Rhode Island; and (c) agrees that for any cause
of action arising out of or in connection with this Agreement, venue is solely
proper in any state or federal court within Rhode Island.

     

    23. Waiver of Jury
Trial.  EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT
OF ANY SUIT, ACTION OR PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER
OR IN CONNECTION WITH THIS AGREEMENT.

     

    24. Certain
Definitions.  The capitalized terms contained and used in this
Agreement which are defined below shall have the respective meanings ascribed to
them as follows:

     

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

     

    (i) any
sale, lease, exchange, or other transfer (in one transaction or series of
related transactions) of all or substantially all of the assets of Parent to any
Person or group of related Persons for purposes of Section 13(d) of the Exchange
Act, other than one or more members of the Shareholder Group;

     

    (ii) a
majority of the Board of Parent shall consist of Persons who are not Continuing
Directors;

     

    (iii) the
acquisition by any Person or Group (other than (A) one or more members of the
Shareholder Group or (B) with respect to a transferee of shares of Class C
Common Stock, par value $0.01 per share, of Parent, (1) one or more members of the
Shareholder Group or (2) any Person approved by an
affirmative vote of no less than two-thirds of the disinterested members of the
Board of Parent) of the power, directly or indirectly, to vote or direct the
voting of securities having more than 50% of the ordinary voting power for the
election of directors of Parent;

     

    (iv) the
acquisition by any Person or Group of shares of the capital stock of Parent
representing in the aggregate more than 40% of the issued and outstanding shares
of such capital stock and, as of the time of such acquisition, no other Person
or Group holds, in the aggregate, a greater number of such shares of capital
stock;

     

    (v) any
sale, lease, exchange, or other transfer (in one transaction or series of
related transactions) of all or substantially all of the assets of the Company
to any Person or group of related Persons for purposes of Section 13(d) of the
Exchange Act, other than to (A) a wholly-owned subsidiary of Parent or the
Company or (B) one or more members of the Shareholder Group; or

     

    (vi) Parent
shall cease, whether directly or indirectly through one or more wholly-owned
subsidiaries, to have the power to vote or direct the voting of securities
having more than 50% of the ordinary voting power for the election of directors
of the Company.

     

    (b)  “Code” shall mean the Internal
Revenue Code of 1986, as amended, and the regulations or other guidelines of
general applicability promulgated thereunder.

     

    (c) “Continuing Directors” shall
mean any Person who (i) was a member of the Board of Parent on the Appointment
Date, (ii) is thereafter nominated for election or elected to the Board of
Parent with the affirmative vote of a majority of the Continuing Directors who
are members of such Board of Parent at the time of such nomination or election,
or (iii) is a member  of the Board of Parent and also a member of the
Shareholder Group.

     

    (d)  “Group” means any group of
related Persons for purposes of Section 13(d) of the Securities Exchange Act of
1934, as amended.

     

    (e) “Manage” (or “Managing”) means
with respect to the business or operation of a television station, (i) the provision of
management services, (ii) the right to program, or
select a substantial portion of the programming of, such station, including
through a local marketing agreement, time brokerage agreement, joint sales
agreement, shared services agreement, or other similar agreements (collectively,
a “Services Agreement”),
or (iii) the sale of,
or the right to sell, the advertising of such station through a Services
Agreement.

     

    (f) “Person” shall mean an
individual, a corporation, limited liability company, a partnership, an
association, a trust or any other entity or organization, including any other
form of business entity or any government or political subdivision or an agency
or instrumentality thereof.

     

    (g)  “Shareholder Group” shall mean
HM Capital Partners, LLC, and any Person controlling, controlled by or under
common control with it.

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    25. Interpretation.  The
headings in this Agreement are inserted for convenience only and shall not
constitute a part hereof.  Except where the context requires
otherwise, whenever used in this Agreement, the singular includes the plural,
the plural includes the singular, the use of any gender is applicable to all
genders and the word “or” has the inclusive meaning represented by the phrase
“and/or.”  The words “include” and “including” and variations thereof,
shall not be deemed to be terms of limitation, but rather shall be deemed to be
followed by the words “without limitation.”  A reference in this
Agreement to a Section, Paragraph, Exhibit or Schedule is to the referenced
Section, Paragraph, Exhibit or Schedule of this Agreement.  The
wording of this Agreement shall be deemed to be the wording mutually chosen by
the parties and no rule of strict construction shall be applied against any
party.  Unless expressly provided otherwise, all dollar figures in
this Agreement are in the currency of the United States of America.

     

    26. Survival.  The
expiration or termination of this Agreement shall not relieve any party of any
obligations that may have accrued hereunder prior to such expiration or
termination.  The provisions of Sections 9, 10, 11, 12, 13, 15, 16,
17, 18, 19, and 20 shall survive the expiration or termination of this Agreement
except as otherwise specifically provided in such Sections.

     

    27. Assignment.  The
terms and provisions of this Agreement shall inure to the benefit of and be
binding upon the LIN Companies and each of its respective successors and
assigns.  Notwithstanding the foregoing or anything to the contrary
contained herein, this Agreement may not be assigned by the LIN Companies
without Executive’s prior written consent unless the LIN Companies retain joint
and several liability with any of the LIN Companies’ assignee for the financial
obligations under this Agreement.  This Agreement may not be assigned,
in whole or in part, by Executive without the written consent of each of the LIN
Companies.

     

    28. Indemnification.  At
all times during and after the Service Period the LIN Companies shall indemnify
Executive pursuant to the terms and subject to the conditions of the certificate
of incorporation and bylaws, respectively, of each of the LIN Companies, as such
are in effect as of the Appointment Date.  Executive shall have the
benefit of continuing directors’ and officers’ insurance coverage at levels no
less favorable than those in effect from time to time for members of the Board
of Parent and the board of directors of the Company and other members of the LIN
Companies’ senior management.

     

    29. Counterparts.  This
Agreement may be executed in two or more counterparts, each of which shall be
deemed to be an original but all of which together shall constitute one and the
same instrument.  Each party hereto will receive by delivery or by
facsimile or other electronic transmission a duplicate original of the Agreement
executed by each party, and each party agrees that the delivery of the Agreement
by facsimile or other electronic transmission will be deemed to be an original
of the Agreement so transmitted.

     

    30. Entire
Agreement.  This Agreement
constitutes the entire agreement between the parties hereto with respect to the
subject matter hereof and supersedes all prior oral or written agreements,
commitments or understandings with respect to the matters provided for
herein.

     

     

    [The remainder of this page is
intentionally blank; signature page follows.]

     

     

     

     

     

     

     

     

    
       

       

      
        10

        
          

        

      

      
        
        

      

    

    IN WITNESS WHEREOF, the
parties have executed this Agreement on the date first above
written.

     

    
      
        
          
            
              
                	
                        Executive:

                      
	 
      
	
                        By: /s/ Nicholas N.
      Mohamed                                                                     

                      
	
                                   Nicholas
      N.
      Mohamed                                                                    

                      
	 
      
	
                        LIN
      TV Corp.

                      
	 
      
	
                        By:
      /s/ Richard J.
      Schmaeling                                                                     

                      
	
                                   Richard
      J. Schmaeling

                                   Senior
      Vice President CFO

                      
	
                        LIN
      Television Corporation

                      
	 
      
	
                        By: /s/ Richard J.
      Schmaeling                                                                     

                      
	
                                   Richard
      J. Schmaeling

                      
	
                                   Senior
      Vice President CFO

                      
	 
      

              

            

          

        

      

    

    

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

    Schedule
12

     

    Geographic
Scope of Non-Solicitation

     

    

     

    The
geographic scope to which Section 12 shall apply shall be defined as all markets
in the United States of America.

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

    Schedule
16

     

    Notices

     

    

     

    If
to
Executive:                                           To the address as shall most
currently appear on therecords of the
Company

    

    

    If
to the LIN
Companies:                           
LIN Television Corporation

                   4 Richmond Square, Suite
200

                Providence,
RI  02906

                Attn:  General
Counsel

                Fax:  (401)
454-2817

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

    Exhibit
5(b)

    

    Budget-Based
Objectives

    

    

    [To Be
Determined]

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