Document:

Prepared and filed by St Ives Financial

Exhibit 10.1

MIVA, INC. 

EXECUTIVE EMPLOYMENT AGREEMENT

     THIS EXECUTIVE EMPLOYMENT AGREEMENT is made this 6th day of September  2005, (this “Agreement”) between MIVA, Inc. (“MIVA” or the “Company”), a Delaware corporation, and Peter Corrao (“Executive”).

Recitals

     The Company wishes to employ Executive and Executive wishes to be employed by the Company on the terms and conditions set forth in this Agreement.

Statement of Agreement

     In
    consideration of the foregoing, and of Executive’s employment, the parties
    agree as follows:

     1.      Employment. Executive’s employment with MIVA shall be upon the terms and conditions hereinafter set forth to become effective upon execution of this Agreement (the “Effective Time”).

     2.      Duties. 

          (a)      Executive’s first day of employment shall be September 1, 2005 (the “Start Date”).  Executive is being hired as the Chief Operating Officer of the Company, reporting to the Chairman and Chief Executive Officer, and he shall perform such other or additional duties and responsibilities consistent with Executive’s title(s), status, and position as the Board of Directors of MIVA may, from time to time, prescribe.

          (b)      So long as he is employed under this Agreement, Executive agrees to devote his full working time and efforts exclusively on behalf of the Company and to competently, diligently and effectively discharge all duties of Executive hereunder.  Executive shall not be prohibited from engaging in such personal, charitable, or other nonemployment activities as do not interfere with full time employment hereunder and which do not violate the other provisions of this Agreement.  Executive further agrees to comply fully with all reasonable generally applicable policies of the Company as are from time to time in effect.

          (c)      The Executive shall be based out of the Company’s Ft. Myers, Florida office. If the Company decides to move its operations more than 35 miles from its current offices in Fort Myers, Florida, Executive shall not be required to relocate and, to the extent the Executive cannot perform his duties hereunder as a result of such a move, his non-performance will not constitute Cause (as defined below).  

 
3.      Compensation.  

          (a)      As
    compensation for all services rendered to the Company pursuant to this Agreement,
    in whatever capacity rendered, the Company will pay to Executive during the
    term hereof a minimum base salary at the rate of $365,000 per year (the “Basic
Salary”), payable in accordance with the usual payroll practices of the Company.
    The Basic Salary thereafter may be increased, but not decreased, from time
to time, by the Board of Directors in connection with reviews of Executive’s performance occurring no less frequently than annually.     

          (b)      Executive will be entitled to receive incentive compensation pursuant to the terms of plans adopted by the Board of Directors or its Compensation Committee from time to time.  For fiscal 2005, Executive’s target bonus shall be $109,500, with a maximum potential of $219,000, pro-rated for the amount of time employed by the Company in calendar year 2005 and shall be based upon obtaining objectives established by the Compensation Committee.

          (c)      On the Start Date and pursuant to the Company’s 2004 Stock Incentive Plan, the Company will grant to Executive options to acquire an aggregate of 125,000 shares of the Company’s Common Stock, of which 25% of such options will vest on each of the first four anniversaries of this Agreement.  The Board of Directors or its Compensation Committee, as applicable, shall review Executive's performance on an annual basis and pursuant to the same review process employed by the Board of Directors for the Company’s other executive officers.  In connection with such annual review, the Executive may be entitled to receive additional grants of stock
options.  Such additional options will be granted, if at all, in the sole discretion of the Board of Directors or its Compensation Committee on terms and conditions they determine. Notwithstanding the foregoing and provided Executive continues to be employed by the Company on the grant date, Executive shall receive an additional grant of stock options on each of January 1, 2006 for 125,000 shares, subject to standard vesting and termination provisions (the “Additional Equity Compensation”).  If there is a change in control of the Company (as that term is used in the governing documents of any stock option agreement) consummated (i) within three months of the Start Date, 50% of any stock options granted to Executive shall fully vest on the date the change in control is
consummated and shall remain exercisable during the term of such option(s) as if the Executive were still employed by the Company or (ii) after three months of the Start Date, any stock options granted to Executive shall fully vest on the date the change in control is consummated and shall remain exercisable during the term of such option(s) as if the Executive were still employed by the Company.  Additionally, notwithstanding any provisions to the contrary in any stock option agreements or plans, if the Executive's employment with the Company is terminated by the Company without Cause (as defined below) or by Executive for Good Reason (as defined below), any stock options granted to Executive shall immediately fully vest and remain exercisable during the term of such options as if the
Executive were still employed by the Company.

     (d)      Notwithstanding anything herein to the contrary, the Company in its sole discretion may grant to Executive restricted stock units or other equity compensation in lieu of stock options, provided the substituted equity compensation gives Executive the opportunity to acquire the same or a substantially similar amount of equity ownership in the Company as if he had been granted stock options, but adjusting such equity compensation award to take into account whether Executive is required to pay any consideration for the equity compensation as well as such other factors as the Board of Directors or the Compensation Committee, as applicable, shall determine in its sole
discretion. 

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     4.      Business Expenses.  The Company shall promptly pay directly, or reimburse Executive for, all business expenses to the extent such expenses are paid or incurred by Executive during the term of employment in accordance with Company policy in effect from time to time and to the extent such expenses are reasonable and necessary to the conduct by Executive of the Company's business and properly substantiated.  Additionally, the Company shall reimburse Executive for up to $10,000 of his reasonable documented expenses incurred in relocating his household to Florida.

     5.      Benefits.
    During the term of this Agreement and Executive’s employment hereunder, the
    Company shall provide to Executive such insurance, vacation, sick leave and
    other like benefits as are provided to other executive officers of the Company
    from time to time. Executive will use his reasonable best efforts to schedule
    vacation periods to minimize disruption of the Company’s business.

     6.      Term; Termination.

          (a)      The
    Company shall employ the Executive, and the Executive accepts such employment,
    for an initial term commencing on the date of this Agreement and ending on
    the first anniversary of the date of this Agreement. Thereafter, this Agreement
    shall be extended automatically for additional twelve-month periods, unless
    terminated as described herein. Executive's employment may be terminated
    at any time as provided in this Section 6. For purposes of this Section 6,
    “Termination Date” shall mean the date on which any notice period required
    under this Section 6 expires or, if no notice period is specified in this
    Section 6, the effective date of the
termination referenced in the notice.

          (b)      The
    Company may terminate Executive’s employment without Cause (as defined
    below) upon giving 30 days’ advance written notice to Executive. If
    Executive’s employment is terminated without Cause under this Section 6(b),
    the Executive
    shall be entitled to receive (A) the earned but unpaid portion of Executive's
    Basic Salary and pro rata portion of Executive’s bonus, if any, through
    the Termination Date; (B) over a period of twelve (12) months following such
    Termination Date (the “Severance Period”) an amount equal to
    the sum of his (i) Basic Salary at the time of Termination, plus (ii) the
    Termination Bonus (as defined below); (C) any other amounts or benefits owing
    to Executive under the then applicable employee benefit, long term incentive
    or equity plans and programs of the Company, which shall be paid or treated
    in accordance with Section 3 hereof and otherwise in accordance with the
    terms of such plans and programs; and (D) benefits, (including, without limitation
    health, life, disability and pension) as if Executive were an employee during
    the Severance Period; provided, however, that if the Company determines that
    any amounts to be paid to Executive hereunder are subject to Section 409A
    of the Internal Revenue Code of 1986, as amended, then the Company shall
    in good faith adjust the form or timing of such payments as it reasonably
    determines to be necessary or advisable to be in compliance with Section
409A.

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          (c)      The
    Company may terminate Executive’s employment upon a determination by
    the Company that “Cause” exists for Executive’s termination and
    the Company serves written notice of such termination upon Executive. As
    used
    in this
    Agreement, the term Cause shall refer only to any one or more of the following
    grounds:

	 	
          (i)      commission of a material and substantive act of theft, including, but not limited to, misappropriation of funds or any property of the Company;

	 	 
	 	
          (ii)      intentional engagement in activities or conduct clearly injurious to the best interests or reputation of the Company which in fact result in material and substantial injury to the Company;

	 	 
	 	
          (iii)      refusal to perform his assigned duties and responsibilities (so long as the Company does not assign any duties or responsibilities which would give the Executive Good Reason to terminate his employment as described in Section 6(e)) after receipt by Executive of written detailed notice and reasonable opportunity to cure;

	 	 
	 	
          (iv)      gross insubordination by Executive, which shall consist only of a willful refusal to comply with a lawful written directive to Executive issued pursuant to a duly authorized resolution adopted by the Board of Directors (so long as the directive does not give the Executive Good Reason to terminate his employment as described in Section 6(e));

	 	 
	 	
          (v)      the clear violation of any of the material terms and conditions of this Agreement or any written agreement or agreements Executive may from time to time have with the Company (following 30 days' written notice from the Company specifying the violation and Executive's failure to cure such violation within such 30 day period); 

	 	 
	 	
          (vi)      Executive’s
substantial dependence, as reasonably determined by the Board of Directors of
the Company, on alcohol or any narcotic drug or other controlled or illegal substance
which materially and substantially prevents Executive from performing his duties
hereunder; or

	 	 
	 	
          (vii)      the final and unappealable conviction of Executive of a crime which is a felony or a misdemeanor involving an act of moral turpitude, or a misdemeanor committed in connection with his employment by the Company, which causes the Company a substantial detriment.

In the event of a termination under
    this Section 6(c), the Company will pay Executive the earned but unpaid portion
    of Executive’s Basic Salary through the Termination Date. If any determination
    of substantial dependence under Section 6(c)(vi) is disputed by the Executive,
    the parties hereto agree to abide by the decision of a panel of three physicians
    appointed in the manner as specified in Section 6(d) of this Agreement. If
    any determination of “Cause” is made under items 6(c), (i), (ii),
    (iii), (iv), (v), (vii), or (viii) which Executive contests, Executive shall
    have the opportunity, within 30 days of such determination, to personally
    appear in front of the Board of Directors and present his case to the Board
    of Directors and have the Board of Directors reconsider the determination
    of Cause.

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          (d)      Executive's
    employment shall terminate upon the death or permanent disability of Executive.
    For purposes hereof, “permanent disability,” shall
    mean the inability of the Executive, as determined by the Board of Directors
    of MIVA, by reason of physical or mental illness to perform the duties required
    of him under this Agreement with or without reasonable accommodation for
    more than 120 days in any 360 day period. Upon a determination by the Board
    of Directors of MIVA that Executive's employment shall be terminated under
    this Section 6(d), the Board of Directors shall give Executive 30 days' prior
    written notice of the termination. If Executive disputes a determination
    of the Board of Directors under this Section 6(d), the parties agree to abide
    by the decision of a panel of three physicians. MIVA will select a physician,
    Executive will select a physician and the physicians selected by MIVA and
    Executive will select a third physician. Executive agrees to make himself
    available for and submit to examinations by such physicians as may be directed
    by the Company. Failure to submit to any examination shall constitute a breach
    of a material part of this Agreement. In the event of termination due to
    death or permanent disability, the Company will pay Executive, or his legal
    representative, the earned but unpaid portion of Executive's Basic Salary
    through the Termination Date and any other amounts or benefits owing to Executive
under the then applicable employee benefit, long term incentive or equity plans
    and programs of the Company, which shall be paid or treated in accordance
    with Section 3 hereof and otherwise in accordance with the terms of such
    plans and programs; provided, however, that if the Company determines that
    any amounts to be paid to Executive hereunder are subject to Section 409A
    of the Internal Revenue Code of 1986, as amended, then the Company shall
    in good faith adjust the form or timing of such payments as it reasonably
    determines to be necessary or advisable to be in compliance with Section
409A.

          (e)      The Executive may terminate his employment for Good Reason (as defined below) upon giving 30 days advance written notice to the Company.  If Executive's employment is terminated with Good Reason under this Section 6(e), the Executive shall be entitled to receive (A) the earned but unpaid portion of Executive's Basic Salary and pro rata portion of Executive’s bonus, if any, through the Termination Date; (B) during the Severance Period an amount equal to the sum of his (i) Basic Salary at the time of the Termination Date, plus (ii) the Termination Bonus (as defined below); (C) any other amounts or benefits owing to Executive under the then applicable
employee benefit, long term incentive or equity plans and programs of the Company, which shall be paid or treated in accordance with Section 3 hereof  and otherwise in accordance with the terms of such plans and programs; and (D) benefits, (including, without limitation health, life, disability and pension) as if Executive were an employee during the Severance Period; provided, however, that if the Company determines that any amounts to be paid to Executive hereunder are subject to Section 409A of the Internal Revenue Code of 1986, as amended, then the Company shall in good faith adjust the form or timing of such payments as it reasonably determines to be necessary or advisable to be in compliance with Section 409A.  As used in this Agreement, the term "Good Reason" means any one
or more of the following grounds:

			
(i)	
a change in Executive’s title(s), status, position
or responsibilities without Executive’s written consent, which does not represent
a promotion from his existing status, position or responsibilities, despite Executive’s
written notice to the Company of his objection to such change and the Company’s
failure to address such notice in a reasonable fashion within 30 days of such
notice;

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(ii)	
the assignment to Executive of any duties or responsibilities which are inconsistent with his status, position or responsibilities as set forth in Section 2 hereof, despite Executive’s written notice to the Company of his objection to such change and the Company’s failure to address such notice in a reasonable fashion within 30 days of such notice; 

			 	 
			
(iii)	
if there is a reduction in Executive's Basic Salary or the Company fails to issue the Additional Equity Compensation;

			 	 
			
(iv)	
if there is a Change in Control of the Company and Executive terminates his employment during the “Window Period” (as defined below);

			 	 
			
(v)	
a breach by the Company of any material term or provision of this Agreement; or

			 	 
			
(vi)	
a relocation of the Company’s offices in Fort Myers, Florida to a location more than 35 miles from the current location.

          (f)      The
    Executive may terminate his employment for any reason (other than Good Reason)
    upon giving 30 days' advance written notice to the Company. If Executive’s
    employment is so terminated under this Section 6(f), the Company will pay
    Executive the earned but unpaid portion of Executive's Basic Salary through
    the Termination Date and any other amounts or benefits owing to Executive
    under the then applicable employee benefit, long term incentive or equity
    plans and programs of the Company, which shall be paid or treated in accordance
    with Section 3 hereof and otherwise in accordance with the terms of such
    plans and programs.

          (g)      In
    the event of the Executive's death during the Severance Period, payments
    of Basic Salary under this paragraph 6 and payments under the Company’s employee
    benefit plan(s) shall continue to be made in accordance with their terms
    during the remainder of the Severance Period to the beneficiary designated
    in writing for such purpose by the Executive or, if no such beneficiary is
    specifically designated, to the Executive's estate.

          (h)      As used in this Agreement, the term “Bonus” shall mean any bonus, incentive compensation or any other cash benefit paid or payable to the Executive under any incentive compensation grant or plan, excluding signing bonuses and the Company's stock incentive plan.  For purposes of this Agreement “Termination Bonus” means (i)  an amount equal to the Executive’s target bonus for the fiscal year in which the termination occurs, increased or decreased pursuant to actual performance versus targeted performance in the then current plan measured as of the end of the calendar month in the month preceding the Termination Date; or (ii)
in the event the target bonus has not been so established as provided in (i), an amount equal to the Executive's Bonus for the four (4) fiscal quarters immediately preceding the Termination Date; provided, however, if there has been a Change in Control of the Company the Termination Bonus shall be an amount equal to the greater of (i) the preceding calculation or (ii) Executive’s Bonus for the four (4) fiscal quarters immediately preceding the Change in Control of the Company.

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          (i)      As used in this Agreement, the term “Window Period” shall mean the period of time after a Change in Control in which Executive can terminate his employment with the Company for any reason and the termination shall be deemed a termination for Good Reason for purposes of this Agreement.  The Window Period begins 180 days after a Change in Control and lasts for thirty (30) days.

          (j)       As used in this Agreement, the term “Change in Control” as a capitalized term shall mean the occurrence of any one of the following events: 

                             (i) any Person is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company representing thirty-five percent (35%) or more, excluding in the calculation of Beneficial Ownership securities acquired directly from the Company, of the combined voting power of the Company's then outstanding voting securities; 

                            (ii) any Person is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company representing fifty-one percent (51%) or more of the combined voting power of the Company’s then outstanding voting securities;

                             (iii) the following individuals cease for any reason to constitute a majority of the number of directors then serving: individuals who, on the Effective Time, constitute the Board and any new director (other than a director whose initial assumption of office is in connection with an actual or threatened election contest, including but not limited to a consent solicitation, relating to the election of directors of the Company) whose appointment or election by the Board or nomination for election by the Company's stockholders was approved or recommended by a vote of the at least two-thirds (2/3) of the directors then still in office who either were directors
on the Effective Time or whose appointment, election or nomination for election was previously so approved or recommended; 

                             (iv) there is a consummated merger or consolidation of the Company or any direct or indirect subsidiary of the Company with any other corporation, other than (A) a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving or parent entity) more than fifty percent (50%) of the combined voting power of the voting securities of the Company or such surviving or parent equity outstanding immediately after such merger or consolidation or (B) a merger or consolidation effected to
implement a recapitalization of the Company (or similar transaction) in which no person, directly or indirectly, acquired twenty-five percent (25%) or more of the combined voting power of the Company's then outstanding securities (not including in the securities beneficially owned by such person any securities acquired directly from the Company or its Affiliates); or 

                             (v)
    the stock holders of the Company approve a plan of complete liquidation of
    the Company or there is consummated an agreement for the sale or disposition
    by the Company of all or substantially all of the Company's assets (or any
    transaction having a similar effect), other than a sale or disposition by
    the Company of all or substantially all of the Company's assets to an entity,
    at least fifty percent (50%) of the combined voting power of the voting securities
    of which are owned by stockholders of the Company in substantially the same
    proportions as their ownership of the Company immediately prior to such sale. 

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For purposes of this Section 6, the following terms shall have the following meanings: 

                             (i)
“Affiliate” shall mean an affiliate of the Company, as defined in Rule 12b-2
promulgated under Section 12 of the Securities Exchange Act of 1934, as amended
from time to time (the "Exchange Act"); 

                             (ii)
“Beneficial Owner” shall have the meaning set forth in Rule 13d-3 under the
Exchange Act; and

                             (iii)
“Person” shall have the meaning set forth in Section 3(a)(9) of the Exchange
Act, as modified and used in Sections 13(d) and 14(d) thereof, except that such
term shall not include (1) the Company, (2) a trustee or other fiduciary holding
securities under an employee benefit plan of the Company, (3) an underwriter
temporarily holding securities pursuant to an offering of such securities or
(4) a corporation owned, directly or indirectly, by the stockholders of the Company
in substantially the same proportions as their ownership of shares of Common
Stock of the Company.

     7.      Indemnity.  

          (a)      The
    Company agrees that if the Executive is made a party, is threatened to be
    made a party or reasonably anticipates being made a party, to any formal
    or informal action, suit or proceeding, whether civil, criminal, administrative
    or investigative (a “Proceeding”), by reason of the fact that he
    is or was a director, officer, manager, trustee, representative, consultant
    or employee of the Company or is or was serving at the request of the Company
    as a director, officer, member, employee, manager, trustee, representative,
    consultant or agent of another corporation, partnership, joint venture, trust
    or other enterprise, including service with respect to employee benefit plans,
    whether or not the basis of such Proceeding is the Executive's alleged action
    in an official capacity while serving as a director, officer, member, employee,
    manager, trustee, representative, consultant or agent, the Executive shall
    be promptly indemnified and held harmless by the Company to the fullest extent
    permitted by law against all cost, expense, liability and loss (including,
    without limitation, attorney's fees and other professional fees and charges,
    judgments, fines, interest, expenses of investigation, ERISA excise taxes
    or other liabilities or penalties and other amounts paid or to be paid in
    settlement if such settlement is approved in advance by the Company, which
    approval shall not be unreasonably withheld) reasonably incurred or suffered
by the Executive in connection therewith, or in connection with seeking to enforce
    his rights under this Section 7 and such indemnification shall continue as
    to the Executive even if he has ceased to be a officer, director, member,
    employee, manager, trustee, representative, consultant or agent of the Company
    or other entity and shall inure to the benefit of the Executive's heirs,
    executors and administrators.

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          (b)      The Company shall not indemnify Executive pursuant to Section 7(a):

	 	
          (i)      except to the extent the aggregate losses to be indemnified hereunder exceed the amount of such losses for which Executive is reimbursed pursuant to any directors and officers liability insurance purchased and maintained by the Company;

	 	 
	 	
          (ii)      in respect to remuneration paid to Executive if it shall be determined by a final judgment or other final adjudication that such remuneration was in violation of law;

	 	 
	 	
          (iii)      on account of any suit in which judgment is rendered against Executive for an accounting of profits made from the purchase or sale by Executive of securities of the Company pursuant to the provisions of Section 16(b) of the Securities Exchange Act of 1934 and amendments thereto or similar provisions of any federal, state or local statutory law;

	 	 
	 	
          (iv)      on
account of Executive’s material breach of any provision of this Agreement; 

	 	 
	 	
          (v)      on
account of Executive’s act or omission being finally adjudged to involve intentional
misconduct, a knowing violation of law, or grossly negligent conduct; or

	 	 
	 	
          (vi)      if a final decision by a Court having jurisdiction in the matter shall determine that such indemnification is not lawful.

          (c)      If the Executive is entitled under any provision of this Agreement to indemnification by the Company for some or a portion of the cost, expense, liability and loss reasonably incurred or suffered by the Executive in the investigation, defense, appeal or settlement of any Proceeding, but not, however, for the total amount thereof, the Company shall nevertheless indemnify the Executive for the portion of the cost, expense, liability and loss to which the Executive is entitled.

          (d)      The indemnification provided in this Agreement is in addition to, and not in derogation of, any rights to indemnification or advancement of expenses to which the Executive may otherwise be entitled under the Certificate of Incorporation or Bylaws of the Company, any resolutions of the Board of Directors, any indemnification contract or agreement. 

          (e)      The
    Company shall advance all expenses incurred by the Executive in connection
    with the investigation, defense, settlement or appeal of any Proceeding (including
    amounts actually paid in settlement of any such Proceeding). The Executive
    hereby undertakes to repay such amounts advanced only if, and to the extent
    that, it shall ultimately be determined that the Executive is not entitled
    to be indemnified by the Company as authorized hereby. Any advances made
    hereunder shall be paid by the Company to the Executive within twenty (20)
    days following delivery of a written request therefor by the Executive to
    the Company.

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          (f)      Neither the failure of the Company (including the Board, independent legal counsel or stockholders) to have made a determination prior to the commencement of any Proceeding concerning payment of amounts claimed by the Executive under Section 7(a) that indemnification of the Executive is proper because he has met the applicable standard of conduct, nor a determination by the Company (including the Board, independent legal counsel or stockholders) that the Executive has not met such applicable standard of conduct, shall create a presumption that the Executive has not met the applicable standard of conduct.

          (g)      During
    the Executive's employment with the Company and thereafter, the Company agrees
    to continue and maintain a directors’ and officers’ liability insurance
    policy covering the Executive on terms and conditions no less favorable to
    him in
    any respect (including, but not limited to, with respect to the period of
    coverage, scope, exclusions, amounts and deductibles) than the coverage then
    being provided to any other present or former director or senior executive
    of the Company.

          (h)      Executive agrees that Executive will reimburse the Company for all customary and reasonable expenses paid by the Company in defending any civil or criminal action, suit or proceeding against Executive in the event and only to the extent that it shall be ultimately determined that Executive is not entitled to be indemnified by the Company for such expenses under the provisions of Delaware law (or the laws of the Company’s state of incorporation at the time), federal securities laws, the Company’s By-laws or this Agreement.

8.       Certain Additional Payments by the Company.

                           (a)
    Anything in this Agreement to the contrary notwithstanding, in the event
    it shall be
    determined that any payment, award, benefit or distribution (or any acceleration
    of any payment, award, benefit or distribution) by the Company (or any of
    its affiliated entities) or any entity which effectuates a Change in Control
    (or any of its affiliated entities) to or for the benefit of Executive (whether
    pursuant to the terms of this Agreement or otherwise, but determined without
    regard to any additional payments required under this Section 8) (the “Payments”)
    would be subject to the excise tax imposed by Section 4999 of the Internal
    Revenue Code of 1986, as amended (the “Code”), or any interest
    or penalties are incurred by Executive with respect to such excise tax (such
    excise tax, together with any such interest and penalties, are hereinafter
    collectively referred to as the “Excise Tax”), then the Company
    shall pay to Executive an additional payment (a “Gross-Up Payment”)
    in an amount such that after payment by Executive of all taxes (including
    any Excise Tax) imposed upon the Gross-Up Payment, Executive retains an amount
    of the Gross-Up Payment equal to the sum of (x) the Excise Tax imposed upon
    the Payments and (y) the product of any deductions disallowed because of
    the inclusion of the Gross-up Payment in Executive's adjusted gross income
    and the highest applicable marginal rate of federal income taxation for the
    calendar year in which the Gross-up Payment is to be made. For purposes of
    determining the amount of the Gross-up Payment, the Executive shall be deemed
    to (i) pay federal income taxes at the highest marginal rates of federal
    income taxation for the calendar year in which the Gross-up Payment is to
    be made, and (ii) pay applicable state and local income taxes at the highest
    marginal rate of taxation for the calendar year in which the Gross-up Payment
    is to be made, net of the maximum reduction in federal income taxes which
    could be obtained from deduction of such state and local taxes. Notwithstanding
    the foregoing provisions of this Section 8(a), if it shall be determined
    that Executive is entitled to a Gross-Up Payment, but that the Payments would
    not be subject to the Excise Tax if the Payments were reduced by an amount
    that is less than 5% of
the portion of the Payments that would be treated as “parachute payments”under
Section 280G of the Code, then the amounts payable to Executive under this
Agreement
shall be reduced (but not below zero) to the maximum amount that could be paid
to Executive without giving rise to the Excise Tax (the “Safe Harbor Cap”),
and no Gross-Up Payment shall be made to Executive. The reduction of the amounts
payable hereunder, if applicable, shall be made by reducing first the payments
under Section 8, unless an alternative method of reduction is elected by Executive.
For purposes of reducing the Payments to the Safe Harbor Cap, only amounts payable
under this Agreement (and no other Payments) shall be reduced.

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                           If the reduction of the amounts payable hereunder would not result in a reduction of the Payments to the Safe Harbor Cap, no amounts payable under this Agreement shall be reduced pursuant to this provision.

                           (b)
    Subject to the provisions of Section 8(a), all determinations required to
    be made under
    this Section 8(b), including whether and when a Gross-Up Payment is required,
    the amount of such Gross-Up Payment, the reduction of the Payments to the
    Safe Harbor Cap and the assumptions to be utilized in arriving at such determinations,
    shall be made by the public accounting firm that is retained by the Company
    as of the date immediately prior to the Change in Control (the “Accounting
    Firm”) which shall provide detailed supporting calculations both to
    the Company and Executive within fifteen (15) business days of the receipt
    of notice from the Company or the Executive that there has been a Payment,
    or such earlier time as is
requested by the Company (collectively, the “Determination”). In the
event that the Accounting Firm is serving as accountant or auditor for the individual,
entity or group effecting the Change in Control, Executive may appoint another
nationally recognized public accounting firm to make the determinations required
hereunder (which accounting firm shall then be referred to as the Accounting
Firm hereunder). All fees and expenses of the Accounting Firm shall be borne
solely by the Company and the Company shall enter into any agreement requested
by the Accounting Firm in connection with the performance of the services hereunder.
The Gross-up Payment under this Section 8 with respect to any Payments shall
be made no later than thirty (30) days following such Payment. If the Accounting
Firm determines that no Excise Tax is payable by Executive, it shall furnish
Executive with a written opinion to such effect, and to the effect that failure
to report the Excise Tax, if any, on Executive's applicable federal income tax
return will not result in the imposition of a negligence or similar penalty.
In the event the Accounting Firm determines that the Payments shall be reduced
to the Safe Harbor Cap, it shall furnish Executive with a written opinion to
such effect. The Determination by the Accounting Firm shall be binding upon the
Company and Executive. As a result of the uncertainty in the application of Section
4999 of the Code at the time of the Determination, it is possible that Gross-up
Payments which will not have been made by the Company should have been made
(“Underpayment”) or Gross-up Payments are made by the Company which
should not have been made (“Overpayment”), consistent with the calculations
required to be made hereunder. In the event that the Executive thereafter is
required to make payment of any Excise Tax or additional Excise Tax, the Accounting
Firm shall determine the amount of the Underpayment that has occurred and any
such Underpayment (together with interest at the rate provided in Section 1274(b)(2)(B)
of the Code) shall be promptly paid by the Company to or for the benefit of Executive.
In the event the amount of the Gross-up Payment exceeds the amount necessary
to reimburse the Executive for his Excise Tax, the Accounting Firm shall determine
the amount of the Overpayment that has been made and any such Overpayment (together
with interest at the rate provided in Section 1274(b)(2) of the Code) shall be
promptly paid by Executive (to the extent he has received a refund if the applicable
Excise Tax has been paid to the Internal Revenue Service) to or for the benefit
of the Company. Executive shall cooperate, to the extent his expenses are reimbursed
by the Company, with any reasonable requests by the Company in connection with
any contests or disputes with the Internal Revenue Service in connection with
the Excise Tax.

11

 
     9.      Assignment.  This Agreement is personal to Executive and Executive may not assign or delegate any of his rights or obligations hereunder.  Subject to the foregoing, this Agreement shall be binding upon and inure to the benefit of the respective parties hereto, their heirs, executors, administrators, successors and assigns.

     10.      Waiver.
    Neither any failure nor any delay by any party in exercising any right, power
    or privilege under this Agreement or any of the documents referred to in
    this Agreement will operate as a waiver of such right, power or privilege,
    and no single or partial exercise of any such right, power or privilege will
    preclude any other or further exercise of such right, power or privilege
    or the exercise of any other right, power or privilege. To the maximum extent
    permitted by applicable law, (a) no claim or right arising out of this
    Agreement or any of the documents referred to in this Agreement can be discharged
    by one party, in whole or in part, by a waiver or renunciation of the claim
    or right unless in a written document signed by the other party, (b) no
    waiver that may be given by a party will be applicable except in the specific
    instance for which it is given, and (c) no notice to or demand on one
    party will be deemed to be a waiver of any obligation of that party or of
    the right of the party giving such notice or demand to take further action
    without notice or demand as provided in this Agreement or the documents referred
    to in this Agreement.

     11.      Notices.
    Any and all notices required or permitted to be given under this Agreement
    will be sufficient and deemed effective three (3) days following deposit
    in the United States mail if furnished in writing and sent by certified mail
    to Executive at:

	 	Mr. Peter Corrao

    17709 Vineyard Lane

    Poway, CA 92064
	 	 
	and to the Company at: 
	 	MIVA

5220
          Summerlin Commons Boulevard

Suite 500

Ft.
          Myers, Florida 33907

Attention:
    Chief Executive Officer

	 	 

or such subsequent addresses as one
    party may designate in writing to the other parties.

12

      12.      Governing Law.  This Agreement shall be interpreted, construed and governed according to the laws of the State of Florida without regard to its conflicts of laws principles.

     13.      Amendment.  This Agreement may be amended in any and every respect only by agreement in writing executed by both parties hereto.

     14.      Section Headings.  Section headings contained in this Agreement are for convenience only and shall not be considered in construing any provision hereof.

     15.      Entire Agreement.  With the exception of the Confidentiality, Assignment and Noncompetition Agreement, of even date herewith, and any stock option agreements or other equity compensation agreements between Executive and the Company, this Agreement terminates, cancels and supersedes all previous employment or other agreements relating to the employment of Executive with the Company or any predecessor, written or oral, and this Agreement contains the entire understanding of the parties with respect to the subject matter of this Agreement.  This Agreement was fully reviewed and negotiated on behalf of each party and shall not be construed against the interest of either party as
the drafter of this Agreement.  EXECUTIVE ACKNOWLEDGES THAT, BEFORE SIGNING THIS AGREEMENT, HE HAS READ THE ENTIRE AGREEMENT AND HAS THIS DAY RECEIVED A COPY HEREOF.  

     16.      Severability.  The invalidity or unenforceability of any one or more provisions of this Agreement shall not affect the validity or enforceability of any other provisions of this Agreement or parts thereof.

     17.      Survival.  The last two sentences of Section 3(c), and Sections 6, 7 and 8 of this Agreement and this Section 17 shall survive any termination or expiration of this Agreement.

13

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

	 	 	 
	 	EXECUTIVE:
	 	 	 
	 	

    
	 	Peter Corrao
	 	 	 
	 	MIVA, INC.
	 	 	 
	 	 	

    
	 	 By:	Craig A. Pisaris-Henderson
	 	 	 
	 	 Its: 	Chief Executive Officer
	 	 	 
	 	 	 

 

                            

14Prepared and filed by St Ives Financial

Exhibit 10.2

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO CERTAIN PORTIONS OF THIS AGREEMENT.  CONFIDENTIAL PORTIONS HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION.

SETTLEMENT AND LICENSE AGREEMENT

          THIS SETTLEMENT AND LICENSE AGREEMENT (this “Agreement”) is made as of August 15, 2005, by and among Overture Services, Inc., a Delaware corporation (“Overture”), Yahoo! Inc., a Delaware corporation (“Yahoo!”), and MIVA, Inc., a Delaware corporation, formerly known as FindWhat.com (“MIVA”).

R E C I T A L S

          WHEREAS, Overture, as a result of its research and development and pursuant to assignment, is the owner of all right, title and interest in and to certain patents relating to search methods and apparatus for use with computer networks such as the Internet;

          WHEREAS, Overture, Yahoo!, and MIVA are parties to litigation in the case of Overture Services, Inc. v. FindWhat.com, Inc., Case No. SA CV 03-00685 CJC (Ex) (C.D. Cal.) (the “Subject Litigation”), which relates to certain of such patents;

          WHEREAS, MIVA has fully considered, and has had ample opportunity to obtain discovery with respect to, whether or not MIVA is infringing one or more of such patents and whether or not one or more of such patents may be invalid or otherwise unenforceable;

          WHEREAS, MIVA has fully considered the geographic scope of the Overture patents, and each of the parties acknowledges (under the circumstances of their respective businesses) the difficulty and uncertainty of applying such patents on a territorial basis;

          WHEREAS, Overture, Yahoo!, and MIVA have determined that it is in their mutual interest to avoid the expense, distraction, risk and uncertainty of further litigation and desire to settle the Subject Litigation; and

          WHEREAS, Overture, Yahoo!, and MIVA, after taking into account the foregoing and other facts and circumstances (including the current and expected future circumstances of their respective businesses), have agreed to certain terms and conditions (including the payment by MIVA of certain specified amounts as settlement payments and revenue-based amounts as royalties) for their mutual convenience.  

          NOW, THEREFORE, in consideration of and in reliance on the foregoing (which the parties acknowledge and agree to be the basis for this Agreement), and on the other terms and conditions contained in this Agreement, the parties hereto hereby agree as follows:

	
ARTICLE I
DEFINITIONS

          Unless otherwise expressly provided herein, the following capitalized terms, whenever used in this Agreement, shall have the meanings ascribed to them below: 

          “Affiliated Entity” means any Entity which (as of the Effective Date or at any time thereafter during the Term) directly or indirectly controls, is controlled by, or is under common control with, another Entity.  For purposes of this Agreement, “control” of an Entity means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of the Entity, whether through ownership of voting securities, by contract, or otherwise.  Without limiting the foregoing, an Entity shall be deemed to control another Entity if it beneficially owns, directly or indirectly, at least fifty percent (50%) of the outstanding equity
securities or other ownership interests entitled to vote for the election of, or appoint, directors, managers or other managing authority.

-1-

*** CONFIDENTIAL TREATMENT REQUESTED

          “Change of Control” means, as to an Entity (“subject Entity”), (i) a merger, consolidation or reorganization of such subject Entity with another Entity, regardless of which Entity is the surviving Entity, (ii) a sale or other Transfer of all or substantially all of the assets of such subject Entity or a substantial portion of the business of such subject Entity, or (iii) the acquisition by another Entity or Person, whether alone or with other Persons, of (A) “control” (as such term is defined in the definition of “Affiliated Entity” above) of such subject Entity or (B) any substantial portion of the business of such subject
Entity (except that, notwithstanding this clause (iii), the acquisition by another Entity, alone or with other Persons, of such “control” shall not be deemed a “Change of Control” if (1) such acquiring Entity and other Persons are and remain wholly owned subsidiaries (directly or indirectly) of such subject Entity, (2) such acquisition is part of a reorganization effected for such subject Entity’s own benefit (e.g., for corporate structuring, financing or tax reasons), and (3) there is no material change in the governance or management of such subject Entity, and, in any event, a Change of Control will be deemed to occur if any of such acquiring Entity or other Persons ceases to be a wholly owned subsidiary (directly or indirectly) of such first
Entity).

          “Earned Royalties” means royalties paid or payable by MIVA to Overture pursuant to Section 3.2.

          “Effective Date” means the first date on which this Agreement shall have been executed by all parties hereto.

          “Entity” means any corporation, limited liability company, general or limited partnership, sole proprietorship, trust, estate, joint venture entity, Governmental Authority, or other legally recognized entity or body, whether domestic or foreign, in whatever capacity.  

          “Event of Bankruptcy” means, with respect to any Person, the occurrence of any of the following events:  (i) the filing of a voluntary petition seeking liquidation, reorganization, arrangement or readjustment, in any form, of its debts under Title 11 of the United States Code or any other federal, state or foreign insolvency law, or the filing of an answer consenting to or acquiescing in any such petition; (ii) the making of any general assignment for the benefit of its creditors, or the admission in writing of its inability to pay debts as they become due; (iii) the expiration of thirty (30) days after the filing of an involuntary petition under Title 11 of
the United States Code or any other federal, state or foreign insolvency law, an application for the appointment of a receiver for the assets of such Person, or an involuntary petition seeking liquidation, reorganization, arrangement or readjustment of its debts under any other federal, state or foreign insolvency law, provided that the same shall not have been vacated, set aside or stayed within such thirty (30)-day period; (iv) the appointment of a receiver, liquidator, assignee, custodian, trustee, sequestrator, or other similar agent for such Person or for any substantial part of such Person’s assets or property; and (v) the ordering of the winding up or liquidation of such Person’s affairs.

-2-

*** CONFIDENTIAL TREATMENT REQUESTED

          “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

          “MIVA Patents” means ***.

          “MIVA Subsidiary” means any wholly owned subsidiary (directly or indirectly) of MIVA for so long as it remains a wholly owned subsidiary of MIVA.

          “Governmental Authority” means any legislative, judicial, executive or other governmental court, tribunal, legislature, council, authority, office, branch, department, agency, commission, body, corporation or instrumentality, whether foreign, federal, state or local.

          “Included Territory” means the U.S. (including its territories and possessions) and any other country or territory in which there is an Overture Patent issued, including any country or territory to which an issued Overture Patent is applicable.

          “Included Territory Revenue” means total gross revenue associated with a Licensed Service that is provided in, from or to any Included Territory.  For purposes of this Agreement, and without limitation of the foregoing, a Licensed Service is provided in, from or to an Included Territory (and revenue therefrom constitutes “Included Territory Revenue”) if (i) any systems, technologies, methodologies, services or components of the Licensed Service are physically located in, or are operated from, an Included Territory, (ii) the solicitation of advertisers or other sources of revenue associated with the Licensed Service is targeted to an Included Territory, or (iii)
the Licensed Service is targeted at end users in an Included Territory (as evidenced by criteria such as the language of the advertisement or other material; the countries to which advertisers target, and are willing and able to ship, products; and the countries in which the advertisers are physically located and are willing and able to provide services).  The parties agree that references in this Agreement to “revenue” means revenue under U.S. generally accepted accounting principles consistently applied (and that any related terms also will be interpreted in accordance with U.S. generally accepted accounting principles consistently applied).

          “Initial Payment” has the meaning ascribed to such term in Section 3.1.

          “Minimum Payments” means the minimum royalty payments required by Section 3.2.

          “Licensed Service” means a “paid listing” service operated by or for MIVA or a MIVA Affiliated Entity which falls within the scope of a claim of an Overture Patent issued in any Included Territory, as such service has been made available prior to the Effective Date or is made available from time to time after the Effective Date during the Term by MIVA or a MIVA Affiliated Entity (including any modified or future version of such service), including systems, technologies, methodologies, services, and components to the extent used by MIVA or its Affiliated Entity to provide such service.  For purposes of clarification, the parties acknowledge that a
“‘paid listing service” means a search (including, without limitation, key word search), look-up, reference or similar service in connection with which search results, listings, advertising, promotions, marketing information, or similar information is or are made available to the end users of such service, including any pay for placement.  Without limiting the generality of the foregoing, the parties agree that the “paid listing” service as it is offered by MIVA on the Effective Date in the United States is a Licensed Service.  ***.

-3-

*** CONFIDENTIAL TREATMENT REQUESTED

          “Licensed Service Revenue” means Included Territory Revenue earned by or otherwise payable to MIVA or its Affiliated Entities, but excluding ***. 

          “*** Acquirer” means an Entity that together with its Affiliated Entities has a Market Value during the Term equal to or exceeding $*** or a successor or assign of any such Entity or Affiliated Entities.  In connection with a Change of Control, the Market Value of an Entity as a result of the Change of Control (including the Market Value of the party subject to the Change of Control, the Successor Entity, and any other Entities that are or will become Affiliated Entities) will be based on the cumulative Market Values as of the date when a definitive agreement for the Change of Control is entered into.

          “Market Value” means: (i) for a public Entity, the market capitalization of its outstanding shares; and (ii) for a private Entity, the fair market value of such Entity, as evidenced by (A) the valuation attributed to such Entity in any Change of Control with respect to, or other acquisition or investment involving, such Entity, (B) if a valuation based on (A) is not available or possible to obtain, a valuation made by any of the “Big Four” accounting firms or Standard & Poor’s Corporate Value Consulting group (or, in each case, any of their successors) designated and paid by Overture or any other professional services firm selected by Overture and
approved by MIVA (which approval will not be conditioned or unreasonably withheld or delayed), or (C) if a valuation based on (A) or (B) is not available or possible to obtain, the book value of the assets of such Entity.

          “Overture Patents” means (i) U.S. Patent Nos. 6,269,361 (the “‘361 patent”) and 6,078,866 (the “‘866 patent”), ***.

          “Overture/Yahoo! Subsidiary” means any wholly owned subsidiary (directly or indirectly) of Overture or Yahoo! for so long as it remains a wholly owned subsidiary of Overture or Yahoo!.

          “Person” means any individual, in whatever capacity (including as trustee, receiver, conservator, administrator or liquidator), or Entity.

          “Private Label Partner” means a Person that enters into an agreement with MIVA or a MIVA Affiliated Entity under which MIVA or a MIVA Affiliated Entity operates a Licensed Service for or in the name (or based on the branding) of such Person.

          “Private Label Revenue” means the Included Territory Revenue earned by or otherwise payable to a Private Label Partner or MIVA or their Affiliated Entities that is associated with a Private Label Service or the use of any portion thereof, but excluding ***.

          “Private Label Service” means a Licensed Service operated by MIVA or a MIVA Affiliated Entity for or in the name (or based on the branding) of a Private Label Partner, including systems, technologies, methodologies, services, and components to the extent used by MIVA or the Affiliated Entity to provide such Licensed Service.

-4-

*** CONFIDENTIAL TREATMENT REQUESTED

          “Prohibited Acquirer/Beneficiary” means *** and its Affiliated Entities and any successor or assign of *** or its Affiliated Entities.

          “Specified Field” means ***.

          “Subsidiaries” means the MIVA Subsidiaries or Overture/Yahoo! Subsidiaries, as applicable.

          “Successor Entity” means any Entity that “controls” (as such term is defined in the definition of “Affiliated Entity” above) MIVA (including any successor or assign) or any substantial portion of its business after a Change of Control with respect to MIVA (including any successor or assign), together with the Affiliated Entities of such Entity.

          “Term” has the meaning ascribed to such term in Section 6.1.

          “Transfer” means (with respect to any right, property or asset) sell, convey, distribute, exchange, convey, gift, devise, bequeath, assign, lease, license, pledge, hypothecate, grant a lien on, grant a security interest in, or otherwise alienate, transfer, encumber or dispose of such right, property or asset or any interest therein or right thereto, in whole or in part, whether directly or indirectly (through another Person or otherwise), whether voluntarily, involuntarily, by operation of law or otherwise, and whether with or without consideration.  The terms “Transferor” and “Transferee” shall have the correlative meanings.

	
ARTICLE II
GRANT OF LICENSES

	 	 
	
          2.1     Subject to the terms and conditions of this Agreement, Overture, on behalf of itself and itsAffiliated Entities, hereby grants to MIVA a worldwide, non-exclusive, non-transferable (subject to Article IX), non-sublicensable (except as set forth below in this Section 2.1), royalty-bearing, limited license under the Overture Patents to allow MIVA or a MIVA Subsidiary to operate (a) the Licensed Service on its own owned and operated websites (including but not limited to www.findwhat.com and www.espotting.com), as such Licensed Service has been provided prior to the Effective Date or as any modified or future version of such Licensed Service
is provided from time to time after the Effective Date by MIVA or a MIVA Subsidiary, (b) any Private Label Service at any websites of (and in the name and based on the branding of) Private Label Partners of MIVA, as such Private Label Service has been provided prior to the Effective Date or as any modified or future version of such Private Label Service is provided at the websites of such Private Label Partners from time to time after the Effective Date by MIVA or a MIVA Subsidiary, and (c) other Licensed Services to which Overture expressly agrees in writing (in Overture’s sole and unfettered discretion, for any or no reason) the license of this Section 2.1 will apply.  MIVA may sublicense its rights under the foregoing license to MIVA Subsidiaries, provided that the MIVA
Subsidiaries are bound by the terms and conditions of this Agreement and (i) the rights of MIVA Subsidiaries shall be no greater than those of MIVA and the sublicense shall not expand the scope or other terms of the license or other rights, and (ii) the sublicense and other rights of any MIVA Subsidiary shall terminate if and when such Entity ceases to be a MIVA Subsidiary.

-5-

*** CONFIDENTIAL TREATMENT REQUESTED

	
          2.2     Subject to the terms and conditions of this Agreement, MIVA, on behalf of itself and its Affiliated Entities, hereby grants to Overture and Yahoo! a worldwide, non-exclusive, non-transferable (subject to Article IX), non-sublicensable (except as set forth below in this Section 2.2), royalty-free license under the MIVA Patents to allow Overture and Yahoo! to operate their respective businesses in the Specified Field, whether now existing or hereafter commenced, including the making, using, having made, importing, selling and otherwise providing and distributing services and products in connection with such businesses.  Overture and Yahoo! may sublicense their rights under
the foregoing license to Overture/Yahoo! Subsidiaries, provided that the Overture/Yahoo! Subsidiaries are bound by terms and conditions of this Agreement and (i) the rights of Overture/Yahoo! Subsidiaries shall be no greater than those of Overture and Yahoo! and the sublicense shall not expand the scope or other terms of the license or other rights, and (ii) the sublicense and other rights of any Overture/Yahoo! Subsidiary shall terminate if and when such Entity ceases to be a Overture/Yahoo! Subsidiary.

	 	 
	
          2.3     Notwithstanding anything else in this Agreement to the contrary, except as otherwise provided in this Section 2.3, in no event will any of the licenses or other rights granted by Overture or Yahoo! (including their Affiliated Entities) under this Agreement in any way, directly or indirectly, apply to or otherwise inure to the benefit of any Prohibited Acquirer/Beneficiary or any transaction therewith or therefor (whether as a Private Label Partner, as a Successor Entity, as an Affiliated Entity, by sublicense, through any joint development or joint venture arrangement, through a services or supply arrangement, or otherwise).  ***.

	 	 
	
          2.4     No party hereto grants to any Person under this Agreement any right, title or interest in and to its intellectual property other than as expressly provided herein and subject to the terms and conditions hereof.  Each party hereby retains all rights not expressly granted by this Agreement.  Each party hereby disclaims any and all implied licenses and any other rights.

	 
	
ARTICLE III
SETTLEMENT PAYMENTS AND ROYALTIES

	 	 
	
          3.1     As part of settlement of the Subject Litigation, MIVA shall pay to Overture an initial payment of $8,000,000 (the “Initial Payment”), payable in cash (by wire transfer) within five days after the Effective Date.  Notwithstanding anything in this Agreement to the contrary, Overture’s receipt of the Initial Payment shall be a condition precedent to the effectiveness of the grant of the license and other rights set forth in Section 2.1 and the dismissal obligations and releases of Overture and Yahoo! set forth in Article VIII.

	 	 
	
          3.2     MIVA shall also pay royalties to Overture, for each *** (or part thereof) during the Term, equal to ***% of the Licensed Service Revenue and the Private Label Revenue.  Notwithstanding the foregoing, the parties agree that MIVA shall pay a *** royalty rate equal to ***% of the Licensed Service Revenue and Private Label Revenue until the earlier of (a) a Change of Control of MIVA involving a *** Acquirer, or (b) the Market Value of MIVA and its Affiliated Entities (including any Successor Entity) exceeds $***  (whether because of a Change of Control involving a *** Entity, *** in MIVA’s Market Value, or otherwise).  In any event, MIVA shall pay to Overture under
this Section 3.2 minimum royalties of not less than $***  per *** during the *** years of the Term.  

-6-

*** CONFIDENTIAL TREATMENT REQUESTED

	
          3.3     ***

	 	 
	
          3.4     All payments under this Agreement are non-refundable and, payments are not creditable against (and cannot be used to offset) any other obligations (including payment obligations) of MIVA or its Affiliated Entities under this Agreement or otherwise.

	 
	
ARTICLE IV
REPORTS; BOOKS AND RECORDS

	 	 
	
          4.1     Within *** days after the end of each *** ending after the Effective Date, MIVA shall furnish to Overture a written report (the “Royalty Statement”), in a form reasonably requested by Overture, and certified by the chief executive officer or chief financial officer and co-signed by the principal accounting officer of MIVA to be correct to the best of such officer’s knowledge and information after reasonable investigation, setting forth the combined total of Licensed Service Revenue and combined total of Private Label Revenue, the respective royalty rates applied thereto, the Earned Royalties payable thereon, and the basis for calculation of such Earned
Royalties.  ***

	 	 
	
          4.2     MIVA and its Affiliated Entities shall maintain (and, in the case of Private Label Revenue, shall cause Private Label Partners to maintain) complete and accurate records and books of account in sufficient detail and form to enable determination and verification of Licensed Service Revenue, Private Label Revenue and Earned Royalties for each *** until ***  after the *** royalty payment for such *** is paid or payable.  *** each *** during the Term and for a period of *** after expiration or termination thereof, Overture shall have the right, at its expense (except as provided below) and upon *** days’ prior written notice, to audit the books and records of MIVA and
its Affiliated Entities during regular business hours for the purpose of verifying Licensed Service Revenue, Private Label Revenue and Earned Royalties, using independent auditors reasonably acceptable to MIVA (provided that any of the “Big Four” accounting firms or their successors shall be deemed acceptable to MIVA and further, provided that such auditors agree in writing to confidentiality provisions similar to those set forth in Section 5.2 of this Agreement as MIVA may reasonably request.  For any audit performed hereunder, if the auditor’s calculation of Earned Royalties for any *** is more than ***% of the Earned Royalties initially paid by MIVA for such ***, (a) MIVA shall immediately pay to Overture the reasonable cost of the audit, and (b) such audit
shall not count for purposes of the limit of *** per *** under this Section 4.2.  In addition, if the auditor’s calculation of Earned Royalties for the period covered by the audit is greater than the Earned Royalties paid by MIVA for such period, MIVA shall immediately pay to Overture any amounts underpaid, as determined by the results of such audit.  If such audit reveals any over-payment by MIVA, MIVA shall receive a credit in the amount of the over-payment against future royalties owed to Overture, and if no future royalties are owed by MIVA to Overture, Overture shall promptly issue a refund of such overpayment to MIVA.  Also, MIVA shall, at Overture’s request, audit the books and records any Private Label Partner for the purpose of verifying Private Label Revenue, if
MIVA has such right and subject to any terms and conditions that apply to such right.  Responsibility for the reasonable cost of the audit will be determined in good faith by Overture and MIVA (with Overture agreeing to pay such cost if MIVA had and has no plan or intention to conduct such an audit on its own).

-7-

*** CONFIDENTIAL TREATMENT REQUESTED

	
ARTICLE V
CONFIDENTIALITY

	 	 
	
          5.1     The parties intend for this Agreement and the terms of this Agreement (together with any transactions contemplated by this Agreement or as part of the settlement) to be and remain confidential and, except as provided below, each party shall strictly maintain the confidentiality hereof and thereof.

	 	 
	
          5.2     Notwithstanding the confidentiality of this Agreement, the parties may disclose the existence (but not any of its terms) of this Agreement to any third party.  MIVA shall not make any statement to the media or issue any press release regarding this Agreement (or any license, transaction or term hereof or contemplated by this Agreement or as part of the settlement) or the Subject Litigation, except that MIVA may issue the press release regarding this Agreement approved by Overture (which press release will be limited to a statement that the parties have settled the Subject Litigation) and may make the statements set forth in Exhibit B.  Neither Yahoo! nor Overture shall
make any statement to the media or issue any press release regarding this Agreement (or any license, transaction or term hereof or contemplated by this Agreement or as part of the settlement) or the subject matter of the Subject Litigation, except that Yahoo! and/or Overture may make statements and/or issue press releases approved (or containing or consisting of statements approved) in writing by MIVA (which approval will not be unreasonably withheld or delayed) (the statements set forth in Exhibit B are approved by MIVA).  In addition, if either party determines upon the advice of legal counsel that disclosure of this Agreement or its terms (or any transactions contemplated by this Agreement or as part of the settlement) to a third party is required by applicable law, regulation
(including regulations under the Exchange Act), court order, government agency or arbitration proceeding, such party may make such disclosure, provided that the disclosing party gives notice in writing to the other parties at least fifteen (15) days in advance of such disclosure (or, if less time is permitted by law, immediately upon learning of the need for such disclosure) and (as reasonably requested by the non-disclosing parties) exercises reasonable efforts to limit the disclosure and seeks confidential treatment of this Agreement and its terms (including redaction of terms that a party reasonably regards as particularly sensitive) to the maximum extent permitted by law.  Notwithstanding the foregoing, MIVA shall be permitted to make in Exchange Act filings the disclosure approved by
Overture in its Form 8-K regarding the existence of this Agreement and disclosures consistent with and limited to such disclosure.  The parties will, directly and through their respective counsel, in good faith consult and seek to reach agreement regarding the foregoing.  In addition, a party may disclose this Agreement and its terms (a) in confidence to its financial, accounting, legal and other advisors, (b) to the extent disclosure is required to enforce the terms of this Agreement, and (c) to financial, accounting and legal advisors for another Entity as part of the due diligence investigation by the Entity in anticipation of an investment in or acquisition of a party hereto (or other similar transaction involving such a party), provided that both such Entity and such party have a good
faith intent to consummate such investment or acquisition (or similar transaction) and such advisors agree to be bound by this confidentiality provision.

-8-

*** CONFIDENTIAL TREATMENT REQUESTED

	
          5.3     The parties acknowledge and agree that all of the terms and conditions of this Article V are material to the decision of the parties to enter into this Agreement and that any act or omission inconsistent with the provisions of this Article V (including any disclosure or statement regarding this Agreement, other than statements in the press release of each party approved in writing by the other parties in accordance with Section 5.2) would be a material breach of this Agreement.

	 
	
ARTICLE VI
TERM AND TERMINATION

	 	 
	
          6.1     Unless sooner terminated in accordance with this Agreement, this Agreement shall become effective on the Effective Date (subject to Section 3.1) and shall continue in full force and effect for the entirety of the period until the last to expire throughout the world of the Overture Patents (i.e., until there is no longer any Overture Patent in effect in any country) (such period, the “Term”).  Notwithstanding the foregoing, the Term shall end earlier if and when, but only if and when, all claims of the Overture Patents throughout the world are finally declared invalid, pursuant to the law applicable to such patents in each relevant jurisdiction, in
administrative or adjudicative proceedings (as applicable in the relevant jurisdiction) from which all appeals are exhausted.

	 	 
	
          6.2     The licenses and other rights required to be granted by an Affiliated Entity of a party to the other party (including its Subsidiaries) under Article II shall continue and remain in full force and effect notwithstanding that after the Effective Date such Entity ceases to be an Affiliated Entity of the party.

	 	 
	
          6.3     Overture may (at its option) immediately terminate this Agreement by providing written notice to MIVA in the event:

	 	 	 
	 	 	
          (a)     an Event of Bankruptcy occurs in respect of MIVA or a Successor Entity; 

	 	 	 
	 	 	
          (b)     MIVA or any of its Affiliated Entities (including a Successor Entity) materially breaches this Agreement and such material breach is not cured in full to the reasonable satisfaction of Overture within *** days of Overture's notice of such breach; 

	 	 	 
	 	 	
          (c)     MIVA or any of its Affiliated Entities (including a Successor Entity) directly or indirectly challenges the validity or enforceability of any Overture Patent or claim thereof anywhere in the world; or

	 	 	 
	 	 	
          (d)     ***.

	 	 
	
          6.4     MIVA may (at its option) immediately terminate this Agreement by providing written notice to Overture in the event:

	 	 	 
	 	 	
          (a)     an Event of Bankruptcy occurs in respect of Overture; or

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          (b)     Overture materially breaches this Agreement and such material breach is not cured in full to the reasonable satisfaction of MIVA within *** days of MIVA's notice of such breach.

	 	 
	
          6.5     Expiration or termination of this Agreement shall not affect any rights or obligations accrued prior to the effective date of such expiration or termination, and specifically shall not affect MIVA’s obligations to pay in full the Initial Payment, any Minimum Payments that accrued prior to expiration or termination, and any Earned Royalties that accrued prior to expiration or termination, which obligations shall survive expiration or termination of this Agreement.  Expiration or termination of this Agreement also shall not affect the provisions of Article I, Article IV (for the periods described in such Article IV), Article V, Article VII (provided, however, in
the event of termination by MIVA pursuant to Section 6.4 for material breach by Overture, Section 7.3 shall not survive termination of this Agreement), Article VIII (provided that the releases for the benefit of MIVA and its Affiliated Entities shall be subject to MIVA’s having made the Initial Payment and, if this Agreement is terminated by Overture pursuant to Section 6.3, the Minimum Payments), Article IX (to the extent any licenses or other rights survive termination), and Article X, each of which provisions shall survive the expiration or termination of this Agreement.  In addition, expiration or termination of this Agreement shall not affect the licenses and other rights set forth in Section 2.2, which licenses and other rights shall remain in full force and effect, except
that if this Agreement has been terminated by MIVA for material breach by Overture pursuant to Section 6.4, such licenses shall not remain in full force and effect after termination of this Agreement.

	 	 
	
          6.6     The termination rights provided in this Article VI shall be the sole termination rights of the parties; however, such termination rights shall be in addition and without prejudice to any other non-termination rights which the parties may have (under this Agreement, under applicable law or otherwise) with respect to any breach of this Agreement.  Any termination of MIVA's license or other rights under Section 2.1 shall immediately also terminate MIVA Subsidiaries' sublicenses and other rights as sublicensees of the Overture Patents.  Any termination of Overture’s and Yahoo!’s license or other rights under Section 2.2 shall immediately also terminate
Overture/Yahoo! Subsidiaries’ sublicenses and other rights as sublicensees of the MIVA Patents.  

	 
	
ARTICLE VII
REPRESENTATIONS AND WARRANTIES;
COVENANTS

	 	 
	
          7.1     Overture represents and warrants that it owns the entire right, title and interest in and to the Overture Patents. 

	 	 
	
          7.2     MIVA represents, warrants and covenants that it and its Affiliated Entities are in compliance with, and shall comply with, all foreign and United States federal, state, and local laws, regulations, rules and orders applicable to this Agreement, including the subject matter set forth herein.

	 	 
	
          7.3     MIVA represents, warrants and covenants that it shall not, and shall cause each of its Affiliated Entities (including any Successor Entity) not to, directly or indirectly challenge the validity or enforceability of any Overture Patent (including any claim thereof) anywhere in the world.

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          7.4     Each party hereto represents, warrants and covenants to the other that:

	 	 	 
	 	 	
          (a)     It has and will have the full power, capacity, authority and right to execute and deliver this Agreement and to perform its obligations hereunder.

	 	 	 
	 	 	
          (b)     This Agreement has been duly authorized by all necessary action and constitutes and will constitute such party’s valid and binding agreement, enforceable against such party and its Affiliated Entities in accordance with its terms.

	 	 	 
	 	 	
          (c)     It has made, and in the future will make, this Agreement binding on itself and its Affiliated Entities.

	 	 	 
	 	 	
          (d)     No approval, authorization, consent or filing (other than any obligation to file certain information pursuant to the Exchange Act) is or will be required in connection with its execution, delivery and performance of this Agreement which has not heretofore been obtained or made.

	 	 	 
	 	 	
          (e)     Its execution and delivery of this Agreement does not and will not contravene or conflict with its articles or certificate of incorporation, bylaws or other organizational or charter document, as applicable, or with any agreement, contract or other instrument, or any law, rule, regulation, order or decree, binding upon or applicable to it or any of its Affiliated Entities.

	 	 	 
	 	 	
          (f)     It has relied entirely upon its own judgment, belief and knowledge of the nature, extent and duration of the claimed damages in the Subject Litigation, its assessment of the patents licensed under this Agreement, the likelihood of infringement and/or validity of such patents (both before and after the Effective Date), the current and expected business circumstances of it and its current and future Affiliated Entities, and the advice and recommendations of its own independently selected counsel, and, accordingly, neither it nor its Affiliated Entities shall (or shall have the right to) deny or challenge the validity of this Agreement or the obligations of the parties
hereunder.

	 	 
	
          7.5     EXCEPT AS EXPRESSLY SET FORTH IN THIS ARTICLE VII, (a) THE LICENSES AND OTHER RIGHTS GRANTED UNDER THIS AGREEMENT ARE GRANTED “AS IS,” (b) NO PARTY GRANTS, OR WILL BE DEEMED TO GRANT, ANY REPRESENTATIONS OR WARRANTIES.  Without limitation of the generality of the foregoing, nothing in this Agreement shall be construed as (a) a representation or warranty that any Overture Patent or MIVA Patent is valid, or that the operation of the Licensed Service does not infringe any other patents or intellectual property rights, (b) conferring upon a party any license or other rights under any patents or other intellectual property rights, except the licenses and other
rights with respect to the Overture Patents and MIVA Patents expressly granted hereunder, or (c) an agreement by any party to bring or prosecute actions or suits against third parties for infringement.

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ARTICLE VIII
DISMISSAL; RELEASES

	 	 
	
          8.1     Each party agrees to dismiss the Subject Litigation, including all pending claims, counterclaims and defenses in the Subject Litigation, within seven (7) days of the Effective Date.  Each party also waives any claim for costs incurred in the prosecution or defense of the Subject Litigation, and waives any claim, including but not limited to claims for malicious prosecution or abuse of process, any party hereto may have as to any other party hereto relating to the Subject Litigation.

	 	 
	
          8.2     Each party does hereby release, acquit and forever discharge the other parties hereto and their current and former Affiliated Entities and their respective current and former directors, officers, attorneys, employees and other agents of and from all liability, claims, demands, actions, causes of action, damages (whether general, special, exemplary or otherwise), costs and expenses (including attorneys’ fees) of whatever kind and nature with respect to the period before the Effective Date that such party may presently have against such other parties relating to (a) the claims of the Subject Litigation in existence on or before the Effective Date, (b) the
infringement of the MIVA Patents on or before the Effective Date by Overture or Yahoo! or their current and former Affiliated Entities, or (c) the infringement of the Overture Patents on or before the Effective Date by MIVA or its current and former Affiliated Entities. 

	 	 
	
          8.3     Overture and Yahoo! do hereby release, acquit and forever discharge the current and former Private Label Partners of MIVA and Espotting and their respective current and former officers, attorneys, employees and other agents of and from all liability, claims, demands, actions, causes of action, damages (whether general, special, exemplary or otherwise), costs and expenses of whatever kind and nature that Overture or Yahoo! may presently have against such Private Label Partners solely relating to the infringement of the Overture Patents that arises out of use of the Private Label Service provided by MIVA or Espotting on or before the Effective Date.

	 	 
	
          8.4     MIVA does hereby release, acquit and forever discharge the current and former customers of Overture and Yahoo! and current and former Affiliated Entities and their respective current and former officers, attorneys, employees and other agents of and from all liability, claims, demands, actions, causes of action, damages (whether general, special, exemplary or otherwise), costs and expenses of whatever kind and nature that MIVA may presently have against such customers solely relating to the infringement of the MIVA Patents that arises out of the use or redistribution of Yahoo! services and products provided by Overture or Yahoo! or their current Affiliated Entities on or
before the Effective Date.

	 	 
	
          8.5     The parties hereto intend that, within the scope of the releases set forth in Sections 8.2, 8.3 and 8.4, this Agreement shall be effective as a bar to all liabilities, claims, demands, actions, causes of action, damages, costs and expenses (including attorneys’ fees) of whatever kind and nature, known or unknown, suspected or unsuspected, whether or not concealed or hidden, specified in such Sections 8.2, 8.3 and 8.4 to be released.  In furtherance of this intent, the parties hereby expressly, knowingly and voluntarily waive, to the extent applicable, any and all rights and benefits conferred upon them by the provisions of Section 1542 of the California
Civil Code, which reads as follows:

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	 	A general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor.

The parties hereto acknowledge that they have been advised with respect to the implications of California Civil Code Section 1542 or have had the opportunity to obtain such advice and fully recognize and acknowledge that they are releasing each other of and from any claims, whether known or unknown, relating to the subject matter specifically set forth in Sections 8.2, 8.3 and 8.4 with respect to the period before the Effective Date, even if such has not resulted in any actual damage to the affected party at the time of entering into this release.  Nothing in the foregoing will result in, or be construed as, the release of any liability, claims, demands, actions, causes of action, damages, costs or expenses relating to any subject matter other
than as specifically set forth in such Sections 8.2, 8.3 and 8.4.

	
          8.6     Each party hereto shall bear all of its own costs and expenses, including attorney’s fees, in connection with the Subject Litigation and the settlement and dismissal thereof.

	 
	
ARTICLE IX
ASSIGNMENTS, TRANSFERS, AND CHANGE OF CONTROL

	 	 
	
          9.1     Overture shall not, and shall cause its Affiliated Entities not to, Transfer its or their ownership or control of or other rights with respect to any Overture Patent, and MIVA shall not, and shall cause its Affiliated Entities not to, Transfer its or their ownership or control of or other rights with respect to any MIVA Patent, unless such Transfer is subject to the maintenance of the licenses granted by the Transferor hereunder.  In addition, MIVA shall not, and shall not permit its Affiliated Entities to, Transfer all or any substantial portion of its or their business unless such Transfer takes place in accordance with the terms and conditions of this Article IX
and the Transferee is bound by the terms and conditions of this Agreement pursuant to this Article IX.  Any attempt to Transfer other than in accordance with this Article IX shall be null and void.

	 	 
	
          9.2     None of Overture, Yahoo! or MIVA or any Subsidiaries granted any licenses or other rights hereunder (each, a “Licensee”) may Transfer this Agreement or any licenses or other rights granted to the Licensee under this Agreement (by assignment, by operation of law, or otherwise, and whether voluntarily or involuntarily) without the express prior written consent of the other party, which consent may be withheld in such other party’s sole and unfettered discretion, for any or no reason.  Notwithstanding the foregoing, Overture or Yahoo! may Transfer this Agreement and all of its respective rights and obligations hereunder (including the licenses granted to
it) in connection with a transaction resulting in a Change of Control of Overture or Yahoo!, as applicable, without MIVA's consent.  Any attempt to Transfer this Agreement or any licenses or other rights hereunder other than in accordance with this Section 9.2 shall be null and void.

	 	 
	
          9.3     Overture shall have the right (at its option) to immediately terminate the licenses and other rights granted to MIVA (including its Subsidiaries) under Section 2.1 upon written notice to MIVA in the event of a Change of Control of MIVA, except that the provisions of this Section 9.3 shall not apply to:

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               9.3.1     any Change of Control in which the Successor Entity (i) is not a *** Acquirer and (ii) has after the Change of Control a Market Value of less than $***; provided that, in either case, (a) Overture receives written notice of such Change of Control transaction setting forth the identity and a description of the other party or parties to the transaction not later than *** days before the date of the closing of such Change of Control, and (b) the Successor Entity by such date agrees in writing, in form and substance reasonably satisfactory to Overture, to be subject to and to comply with, and to cause MIVA (including any
successor or assign) and its other Affiliated Entities to be subject to and to comply with, all of the terms and conditions of this Agreement; or 

	 	 	 
	 	
               9.3.2     not more than *** involving a Change of Control in which the Successor Entity either (i) is a *** Acquirer or (ii) has after the Change of Control a Market Value that equals or exceeds $*** ; provided that, in either case, (a) Overture receives written notice of such Change of Control transaction setting forth the identity and a description of the other party or parties to the transaction not later than  *** days before the date of the closing of such Change of Control, (b) the Successor Entity by such date agrees in writing, in form and substance reasonably satisfactory to Overture, to be subject to and to comply with, and
to cause MIVA (including any successor or assign) and its other Affiliated Entities to be subject to and to comply with, all of the terms and conditions of this Agreement, and (c) the Successor Entity (including any Affiliated Entity) is not (and will not be as a result of the Change of Control) a Prohibited Acquirer/Beneficiary.

	 	 
	
          9.4     In connection with a Change of Control, the Market Value of an Entity as a result of the Change of Control (including the Market Value of the party subject to the Change of Control, the Successor Entity, and any other Entities that are or will become Affiliated Entities) will be based on the cumulative Market Values as of the date when a definitive agreement for the Change of Control is entered into.

	 
	
ARTICLE X
MISCELLANEOUS

	 	 
	
          10.1     This Agreement (including the recitals above and the exhibits hereto, which recitals and exhibits are incorporated in this Agreement) represents the entire agreement of the parties hereto with reference to the subject matter hereof, including the Subject Litigation and the licenses contemplated hereby, and supersedes all prior and contemporaneous negotiations, correspondence, term sheets, memoranda, discussions, and other understandings and agreements, written, oral or otherwise, between the parties regarding such subject matter.  Each party hereto further acknowledges, represents and agrees that it has not received, and, in entering into this Agreement, it is not
relying on, any representations, warranties, promises, statements, or other understandings or agreements, other than those expressly set forth in this Agreement (including the recitals above), and each party specifically disclaims reliance on any such representations, warranties, promises, statements, or other understandings or agreements by any other party or any rights arising therefrom.

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          10.2     This Agreement may be amended, and the observance of any term hereof may be waived (either generally or in a particular instance and either retroactively or prospectively), only with the written consent of the parties hereto.  No exercise or failure to exercise or delay by any party in exercising any right or remedy under this Agreement shall constitute a waiver by such party of such right or remedy in any other instance or any other right or remedy.

	 	 
	
          10.3     Any notice, request, permission, waiver, report, approval, consent or other communication required or permitted to be given hereunder shall be deemed duly given or sent only when delivered to the address and recipient as follows (or to such other address or recipient as a party may specify by written notice to the parties hereto from time to time):

	 	 
	Overture Services, Inc. 
74 North Pasadena Avenue
Pasadena, CA  91103
Attention:  Jeanine L. Hayes
Facsimile:  626-685-5601	MIVA, Inc.
5220 Summerlin Commons Blvd., Suite 500
Ft. Myers, FL 33907
Attention:  Craig Pisaris-Henderson
Facsimile:  239-561-7224
	 	 
	Yahoo!, Inc.
701 First Avenue
Sunnyvale, CA  94089
Attention:  Reggie Davis
Facsimile:  	 

			 
	
          10.4     The parties agree that they are each independent contractors, and nothing in this Agreement will be deemed to establish a joint venture, partnership, agency, employment, fiduciary or other relationship between the parties.  No party has the right or authority to assume or create any obligation or responsibility on behalf of any other party.  No party shall hold itself out as having any authority or relationship in contravention of this Section 10.4.

			 
	
          10.5     Nothing in this Agreement will constitute, or imply, the grant of any right to use the name or any trademarks, service marks or trade names of another party, and each party acknowledges that it does not have or obtain any such right hereunder.

			 
	
          10.6     This Agreement shall be governed by and construed under the laws of the State of California and the United States without regard to conflicts of laws provisions thereof and without regard to the United Nations Convention on Contracts for the International Sale of Goods, the application of which is hereby excluded.  Any dispute arising in connection with or relating to the interpretation or enforcement of this Agreement shall be submitted to either the Los Angeles or San Francisco offices of the American Arbitration Association (hereinafter referred to as the “AAA”), or to such other forum at such other location as the parties may agree on, for
a determination in accordance with the rules of the AAA thereof, which determination shall be final and non-appealable and which determination may be entered in any court having jurisdiction thereof.

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          10.7     This Agreement may be executed in one or more counterparts, each of which shall be deemed to constitute an original but all of which together shall constitute but one and the same instrument.

			 
	
          10.8     In the event of any arbitration, litigation or other legal proceeding between the parties relating to this Agreement, the prevailing party shall be entitled to recover from the non-prevailing party as an element of its costs, and not its damages, reasonable attorneys’ fees, arbitration and/or court costs, and other costs and expenses.  Such relief shall be in addition to any other relief, award or damages to which the prevailing party may be entitled.

			 
	
          10.9     This is a contract under which each party a licensor to the other party of rights with respect to “intellectual property” within the scope of Section 101 of the U.S. Bankruptcy Code, and, in the event of a case under the Bankruptcy Code involving a party, the other parties shall have the right to exercise any and all rights described in Section 365(n) of the Bankruptcy Code or in this Agreement, including the right to retain the licenses and other rights contemplated hereby.

			 
	
          10.10     If a court of competent jurisdiction finds any provision of this Agreement or any right or obligation hereunder (or portion hereof or thereof) to be unenforceable, then this Agreement shall immediately be deemed amended or modified (a) to include a provision that, to the maximum extent legally permissible, reflects the intent of the parties reflected in such provision or with respect to such right or obligation or (b) if the foregoing is not possible, to exclude such provision, right or obligation.  In any event, the remainder of this Agreement and any other rights and obligations shall continue in full force and effect. 

			 
	
          10.11     The parties acknowledge and agree that this Agreement has been prepared by the parties and has been the subject of arm’s length and careful negotiation, that each party has been given the opportunity to independently review this Agreement with legal counsel, and that each party has the requisite experience and sophistication to understand, interpret, and agree to the particular language hereof.  If there is a dispute related to subject matter of this Agreement, including an ambiguity or question of intent with respect to any provision of this Agreement, the Agreement will be construed as if drafted by all the parties and no presumption or burden of proof will
arise favoring or disfavoring any party by virtue of authorship of any of the provisions of this Agreement.

			 
	
          10.12     The parties shall execute and deliver all reasonable further instruments and documents, and take all reasonable further action, to effectuate the purposes or intents of this Agreement.

[ THE NEXT PAGE IS THE SIGNATURE PAGE ]

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          IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed in duplicate originals by their duly authorized representatives.

	OVERTURE SERVICES, INC.

By:  ________________________________
Name:
Title:

Overture Services, Inc.
74 North Pasadena Avenue
Pasadena, CA  91103

Attention:  Jeanine L. Hayes, Esq.
Telephone:  626-685-5600
Facsimile:  626-685-5601	MIVA, INC.

By:  _________________________________
Name:
Title:

MIVA, Inc.
5220 Summerlin Commons Blvd., Suite 500
Ft. Myers, FL 33907

Attention:  ________________________
Telephone:  239-561-7229
Facsimile:  239-561-7224

YAHOO!, INC.

By:  ________________________________
Name:
Title:

Yahoo!, Inc. 
701 First Avenue

Sunnyvale, CA  94089

Attention:  Reggie Davis, Esq.
Telephone:  
Facsimile:  

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EXHIBIT A

***
  	***

	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 

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EXHIBIT B

APPROVED STATEMENTS

The following are statements that are approved by MIVA and Overture as contemplated by Section 5.2:

The parties have settled the Subject Litigation.

MIVA has taken a license of the ‘361 and ‘866 patents.

MIVA has agreed to pay running royalties under the license.

MIVA has taken a royalty-bearing non-exclusive license of certain Yahoo!/Overture patents.

[MIVA is] [Yahoo! and Overture] are pleased with the settlement.

*** CONFIDENTIAL TREATMENT REQUESTED

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