Document:

EX-10.11.2

 Exhibit 10.11.2 

SEPARATION PAY AGREEMENT 

THIS SEPARATION PAY AGREEMENT (the “Agreement”) by and between Connecture, Inc. (“Company”) and David Sockel
(“You” or “Your”) (collectively, the “Parties”), is entered into and effective as of the 23rd of July, 2012 (the “Effective Date”). 

WHEREAS, You will continue to be employed by the Company; 

WHEREAS, the Company and You have agreed to the terms of the separation pay the Company will pay You upon termination of Your employment
Without Cause (defined below), and the Parties desire to express the terms and conditions in this Agreement; 
 NOW, THEREFORE, in
consideration of Company’s agreement to continue to employ You and in further consideration of the mutual agreements set forth herein, it is agreed: 

1. At-Will Employment. This Agreement does not create a contract of employment. Your employment relationship with the Company is
at-will. This means that at either Your option or the Company’s option, Your employment may be terminated at any time and for any or no reason. This Agreement does not alter the at-will employment relationship. 

2. Termination of Employment. Your employment may be terminated for any or no reason, including any of the following events: 

 

	 	A.	Your death; 

  

	 	B.	Your disability which renders You unable to perform the essential functions of Your job even with reasonable accommodation; 

  

	 	C.	Mutual agreement between You and the Company at any time; 

  

	 	D.	For Cause, as defined below: 

  

	 	1.	Willful insubordination; 

  

	 	2.	Any act or omission by You which is, or is likely to be, intentionally injurious to the Company or the business reputation of the Company; 

 

	 	3.	Your willful misconduct, dishonesty, fraud, or malfeasance that results in injury to the Company; 

  

	 	4.	Your arrest, indictment for, or conviction of, or Your entry of a plea of guilty or no contest to: (a) a felony, or (b) crime involving moral turpitude; or 

 

	 	E.	Your resignation. If You resign Your employment with the Company, You shall provide the Company with thirty (30) days advance written notice of such resignation (the “Notice Period”); provided, however,
that the Company may, at any time during the Notice Period, terminate Your employment for any or no reason. If the Company terminates Your employment for any reason prior to the expiration of the Notice Period, then: (i) the Company will pay
You all accrued but unpaid wages through the 30th date of termination based on Your then-current base salary, and (ii) such termination shall still be considered a resignation under this sub-section E. Nothing in this sub-section E shall alter
the at-will employment relationship between You and the Company as set forth in Section 1 above. 

  

	 	F.	Without Cause. Without Cause means any termination of employment by the Company which is not defined in sub-sections A-E above. 

  
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 3. Post-Termination Payment Obligations. If, the Company terminates Your employment
Without Cause (as defined in sub-section 2F above), then the Company will: 
  

	 	A.	Pay You all accrued but unpaid wages through the termination date based on Your then-current base salary, and 

  

	 	B.	After Your “separation from service” as defined in Internal Revenue Code §409A(a)(2)(A)(i): 

  

	 	(i)	make payments to You in six (6) equal installments for a period of six (6) months (the “Separation Pay Period”) on the last day of each month (each such payment to be a “Separation
Payment”). Each Separation Payment shall be for an amount equal to one twelfth (1/12) of Your then-current annual base salary. If the last day of the month falls on a weekend or a legal holiday, the respective Separation Payment will be
paid on the business day immediately preceding such day. Except as provided in the previous sentence, under no circumstances will any Separation Payment to be made under this sub-paragraph be accelerated or deferred; 

 

	 	(ii)	reimburse Your and Your eligible dependents’ COBRA premium under the Company’s major medical group health plan on a monthly basis for a period of six (6) months; and 

 

	 	(iii)	pay You a lump sum payment for Your accrued, unused vacation as of the date of termination. 

All payments made pursuant to this Section 3 will be subject to applicable withholdings, including, but not limited to, withholdings
required by Internal Revenue Code §3401. Except as set forth in this Section 3, the Company shall have no other obligations to You, including under any provision of this Agreement, Company policy, or otherwise. The separation
payments set forth above shall constitute full satisfaction of the Company’s obligations under this Agreement. In addition, the Company’s obligation to make the separation payments pursuant to this Section 3 shall be conditioned upon
Your: 
  

	 	1.	Execution and non-revocation of a Separation & Release Agreement in a form prepared by the Company, which includes, but is not limited to, Your release of the Company from any and all liability and claims of
any kind; 

  

	 	2.	Compliance with (i) the restrictive covenants contained in Section 4 below, and (ii) all other post-termination obligations to which You are subject; and 

 

	 	3.	Cooperation with the Company as is reasonably necessary during the Separation Pay Period to support an effective transition of the position, duties, and responsibilities You performed immediately preceding the
termination of Your employment. 

 If You do not execute an effective Separation & Release Agreement as set forth
above, the Company shall have no obligation to provide any separation payments to You under this Section 3. The Company’s obligation to continue to provide the separation payments set forth above shall terminate immediately upon:
(i) any breach by You of any post-termination obligations to which You are subject, and/or (ii) any failure by You to cooperate with the Company during the Separation Pay Period as set forth above. 

  
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 4. You acknowledge that: (i) Your position is a position of trust and responsibility
with access to Confidential Information, Trade Secrets, and information concerning employees, customers, and prospective customers of the Company, (ii) the Trade Secrets and Confidential Information, and the relationship between the Company and
each of its employees, customers, and prospective customers are valuable assets of the Company which may not be used for any purpose other than the Company’s Business, (iii) the names of customers and prospective customers are considered
Confidential Information of the Business which constitutes valuable, special, and unique property of the Company, (iv) customer and prospective customer lists, and customer and prospective customer information which have been compiled by the
Company represent a material investment of the Company’s time and money, (v) the Company has invested and will invest its time and money in the development of Your skills in the Business, (vi) the restrictions contained in this
Section are reasonable and necessary to protect the legitimate business interests of the Company, and they will not impair or infringe upon Your right to work or earn a living when Your employment with the Company ends. 

A. Trade Secrets and Confidential Information. You represent and warrant that: (i) You are not subject to any legal or contractual
duty or agreement that would prevent or prohibit You from performing Your duties for the Company or otherwise complying with this Agreement, and (ii) You are not in breach of any legal or contractual duty or agreement, including any agreement
concerning trade secrets or confidential information owned by any other person or entity. 
 You agree that You will not: (i) use,
disclose, or reverse engineer the Trade Secrets or the Confidential Information for any purpose other than the Company’s Business, except as authorized in writing by the Company; (ii) during Your employment with the Company, use, disclose,
or reverse engineer (a) any confidential information or trade secrets of any former employer or third party, or (b) any works of authorship developed in whole or in part by You during any former employment or for any other party, unless
authorized in writing by the former employer or third party; or (iii) upon the termination of Your employment for any reason (a) retain Trade Secrets or Confidential Information, including any copies existing in any form (including
electronic form), which are in Your possession or control, or (b) destroy, delete, or alter the Trade Secrets or Confidential Information without the Company’s prior written consent. 

The obligations under this Section 4A shall: (i) with regard to the Trade Secrets, remain in effect as long as the information
constitutes a trade secret under applicable law, and (ii) with regard to the Confidential Information, remain in effect during the Restricted Period. The confidentiality, property, and proprietary rights protections available in this Agreement
are in addition to, and not exclusive of, any and all other rights to which the Company is entitled under federal and state law, including, but not limited to, rights provided under copyright laws, trade secret and confidential information laws, and
laws concerning fiduciary duties. 
 B. Non-Disclosure of Customer or Prospective Customer Information. During the Restricted Period,
You will not, except as authorized by the Company, divulge or make accessible to any person or entity (i) the names of Customers or Prospective Customers, or (ii) any information contained in Customer’s or Prospective Customer’s
accounts. 
 C. Non-Solicitation of Customers. During the Restricted Period, You will not, directly or indirectly, solicit any
Customer of the Company for the purpose of selling or providing any products or services competitive with the Business. The restrictions set forth in this sub-section apply only to Customers with whom You had Contact during the term of Your
employment. Nothing in this sub-section shall be construed to prohibit You from soliciting any Customer of the Company for the purpose of selling or providing any products or services competitive with the Business: (i) which You never sold or
provided while employed by the Company; (ii) to a Customer that explicitly severed its business relationship with the Company unless You, directly or indirectly, caused or encouraged the Customer to sever the relationship; or (iii) which
products or services the Company no longer offers. 
 D. Non-Solicitation of Prospective Customers. During the Restricted Period, You
will not, directly or indirectly, solicit any Prospective Customer of the Company for the purpose of selling 

  
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or providing any product or service competitive with the Business. The restrictions set forth in this sub-section apply only to Prospective Customers with whom You had Contact during the last
year of Your employment with the Company (or during Your employment if employed less than a year). Nothing in this sub-section shall be construed to prohibit You from soliciting any Prospective Customer of the Company for the purpose of selling or
providing any products or services competitive with the Business which the Company no longer offers. 
 E. Non-Recruit of Employees.
During the Restricted Period, You will not, directly or indirectly, solicit, recruit, or induce any Employee to (i) terminate his or her employment relationship with the Company, or (ii) work for any other person or entity engaged in the
Business. The restrictions set forth in this sub-section shall apply only to Employees (a) with whom You had Material Interaction, or (b) You, directly or indirectly, supervised. 

F. Definitions. For purposes of this Section 4, only, capitalized terms shall be defined as follows: 

(i) “Business” shall mean the business of: (a) developing, marketing, selling, and implementing computer software which enables
insurers, third party administrators, and other insurance industry enterprises to automate insurance processes and exchange information through internet-based applications (the “Software”); and (b) providing (i) maintenance,
(ii) hosting, and (iii) customer and support services, related to the Software. 
 (ii) “Confidential Information” means
(a) information of the Company, to the extent not considered a Trade Secret under applicable law, that (i) relates to the business of the Company, (ii) possesses an element of value to the Company, (iii) is not generally known to
the Company’s competitors, and (iv) would damage the Company if disclosed, and (b) information of any third party provided to the Company which the Company is obligated to treat as confidential, including, but not limited to,
information provided to the Company by its licensors, suppliers, or customers. Confidential Information includes, but is not limited to, (i) future business plans, (ii) the composition, description, schematic or design of products, future
products or equipment of the Company or any third party, (iii) communication systems, audio systems, system designs and related documentation, (iv) advertising or marketing plans, (v) information regarding independent contractors,
employees, clients, licensors, suppliers, customers, or any third party, including, but not limited to, customer lists compiled by the Company, and customer information compiled by the Company, and (vi) information concerning the Company’s
or a third party’s financial structure and methods and procedures of operation. Confidential Information shall not include any information that (i) is or becomes generally available to the public other than as a result of an unauthorized
disclosure, (ii) has been independently developed and disclosed by others without violating this Agreement or the legal rights of any party, or (iii) otherwise enters the public domain through lawful means. 

(iii) “Contact” means any interaction between You and a Customer or Prospective Customer which takes place in an effort to
establish, maintain, and/or further a business relationship on behalf of the Company. 
 (iv) “Customer” means any person or
entity to whom the Company has sold its products or services. 
 (v) “Employee” means any person who (i) is employed by the
Company at the time Your employment with the Company ends, or (ii) was employed by the Company during the last year of Your employment with the Company (or during Your employment if employed less than a year). 

(vi) “Material Interaction” means any interaction with an Employee which relates or related, directly or indirectly, to the
performance of Your duties or the Employee’s duties for the Company. 
 (vii) “Prospective Customer” means any person or
entity to whom the Company has solicited to sell its products or services. 

  
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 (viii) “Restricted Period” means the time period during Your employment with the
Company and for one (1) year after Your employment with the Company ends. 
 (ix) “Trade Secrets” means information of the
Company, and its licensors, suppliers, clients, and customers, without regard to form, including, but not limited to, technical or nontechnical data, a formula, a pattern, a compilation, a program, a device, a method, a technique, a drawing, a
process, financial data, financial plans, product plans, a list of actual customers, clients, licensors, or suppliers, or a list of potential customers, clients, licensors, or suppliers which is not commonly known by or available to the public and
which information (i) derives economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by, other persons who can obtain economic value from its disclosure or use, and
(ii) is the subject of efforts that are reasonable under the circumstances to maintain its secrecy. 
 G. Injunctive Relief. If
You breach any of the restrictions set forth in this Section 4, You agree that: (i) the Company would suffer irreparable harm; (ii) it would be difficult to determine damages, and money damages alone would be an inadequate remedy for
the injuries suffered by the Company; and (iii) if the Company seeks injunctive relief to enforce this Agreement, You will waive and will not (a) assert any defense that the Company has an adequate remedy at law with respect to the breach,
(b) require that the Company submit proof of the economic value of any Trade Secret or Confidential Information, or (c) require the Company to post a bond or any other security. Nothing contained in this Agreement shall limit the
Company’s right to any other remedies at law or in equity. 
 H. Independent Enforcement. The covenants set forth in this
Section 4 shall be construed as agreements independent of (i) any other agreements, or (ii) any other provision in this Agreement, and the existence of any claim or cause of action by You against the Company, whether predicated on
this Agreement or otherwise, regardless of who was at fault and regardless of any claims that either You or the Company may have against the other, shall not constitute a defense to the enforcement by the Company of the covenants set forth in this
Section 4. The Company shall not be barred from enforcing the restrictive covenants set forth in this Section 4 by reason of any breach of (i) any other part of this Agreement, or (ii) any other agreement with You. 

5. Entire Agreement. This Agreement constitutes the entire agreement between the Parties concerning the subject matter of this
Agreement. This Agreement supersedes any prior communications, agreements or understandings, whether oral or written, between the Parties relating to the subject matter of this Agreement, including, but not limited to, any offer letter from the
Company to You and/or any employment agreement between the Company and You. Other than terms of this Agreement, no other representation, promise or agreement has been made with You to cause You to sign this Agreement. 

6. Release of Claims. You release and discharge the Company from any claim or liability that occurs on or before the day You sign this
Agreement, whether known or unknown, arising out of or relating to any agreement and/or understanding between You and the Company relating to Your employment, including, but not limited to, any offer letter from the Company to You and/or any
employment agreement between the Company and You. 
 7. Governing Law. The laws of the State of Georgia shall govern this Agreement.
If Georgia’s conflict of law rules would apply another state’s laws, the Parties agree that Georgia law shall still govern. 
 8.
Attorneys’ Fees. In the event of litigation relating to this Agreement, the Company shall, if it is the prevailing party, be entitled to recover attorneys’ fees and costs of litigation in addition to all other remedies available at
law or in equity. 
 9. Waiver. The Company’s failure to enforce any provision of this Agreement shall not act as a waiver of
that or any other provision. The Company’s waiver of any breach of this Agreement shall not act as a waiver of any other breach. 

  
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 10. Severability. The provisions of this Agreement are severable. If any provision is
determined to be invalid, illegal, or unenforceable, in whole or in part, the remaining provisions and any partially enforceable provisions shall remain in full force and effect. 

11. No Strict Construction. If there is a dispute about the language of this Agreement, the fact that one Party drafted the Agreement
shall not be used in its interpretation. 
 12. Amendments. This Agreement may not be amended or modified except in writing signed by
both Parties. 
 13. Successors and Assigns. This Agreement shall be assignable to, and shall inure to the benefit of, the
Company’s successors and assigns, including, without limitation, successors through merger, name change, consolidation, or sale of a majority of the Company’s stock or assets, and shall be binding upon You. You shall not have the right to
assign Your rights or obligations under this Agreement. The covenants contained in this Agreement shall survive cessation of Your employment with the Company, regardless of who causes the cessation or the reason for the cessation. 

14. Consent to Jurisdiction and Venue. You agree that any claim arising out of or relating to this Agreement shall be brought in a
state or federal court of competent jurisdiction in Georgia. You consent to the personal jurisdiction of the state and/or federal courts located in Georgia. You waive (a) any objection to jurisdiction or venue, or (b) any defense claiming
lack of jurisdiction or improper venue, in any action brought in such courts. 
 15. Execution. This Agreement may be executed in one
or more counterparts, including, but not limited to, facsimiles. Each counterpart shall for all purposes be deemed to be an original, and each counterpart shall constitute this Agreement. 

16. Affirmation. You acknowledge that You have carefully read this Agreement, You know and understand its terms and conditions, and You
have had the opportunity to ask the Company any questions You may have had prior to signing this Agreement. 
 IN WITNESS WHEREOF, the
Parties hereto have executed this Agreement as of the Effective Date. 
  

									
	CONNECTURE, INC.:	 		 	DAVID SOCKEL:
				
	By:	 	 /s/ Robert Douglas Schneider
	 		 	 /s/ David Sockel

		 		 		 		 	
	Date:	 	 7/25/2012
	 		 	Date:	 	 7/20/2012

  
 - 6 -EX-10.12.1

 Exhibit 10.12.1 

Connecture, Inc. 
 18500 W.
Corporate Drive 
 Suite 250 

Brookfield, WI 53045 

December 31, 2013 
 Mr. Mark Granville

 412 Grosvenor Drive 
 Raleigh, NC 27615 

 

	Re:	Bonus Agreement 

 Dear Mark: 

In consideration for your work for Connecture, Inc., a Delaware corporation (the “Company”), the Company will pay
you a Bonus (as described below) upon the earliest Payment Event (as defined below) to occur after the date of this letter (the “Agreement”), subject to the conditions described herein, so long as you are continuously
employed by the Company (or any controlled affiliate) or its successor from the date of this Agreement through the Payment Event. If your continuous employment with the Company (or any controlled affiliate) and its successor terminates for any
reason before the Payment Event, you will forfeit any and all rights to the Bonus. 
 Subject to the terms of this Agreement, the Bonus will
be paid to you upon the earliest to occur of the following payment events (“Payment Event”): (i) on or within 20 days after the closing of the first public offering of capital stock of the Company that is effected
pursuant to a registration statement filed with, and declared effective by, the Securities and Exchange Commission under the Securities Act of 1933, as amended (“IPO”); provided, however if either the Company or the
Company’s underwriters determine that payment of the Bonus on or within 20 days after the IPO may jeopardize the success of the IPO or subject the Company to other adverse consequences, the Bonus related to an IPO will be paid on
October 1, 2014; (ii) on the closing of a Change of Control (“Change of Control”), as defined in the Connecture, Inc. 2010 Stock Incentive Plan, as may be amended from time to time (the
“Plan”); (iii) on or within 20 days after the closing of an equity financing that results in gross proceeds to the Company of at least $20,000,000 (“Financing”); or (iv) October 1, 2014. 

The amount of the Bonus will depend on which Payment Event triggers the right to payment as follows: 

 

															
	IPO	 	 	Change of Control	 	 	Financing	 	 	October 1, 2014	 
	$	300,000	  	 	$	250,000	  	 	$	250,000	  	 	$	250,000	  

 The Company will pay the Bonus to you in a single lump sum; provided, however, that if net sale proceeds
payable upon a Change of Control are contingent, deferred, or conditional (i.e., escrowed or subject to any earn-out or similar arrangement), then a corresponding portion of the Bonus will be paid to you on the earlier of (x) the date on which
such deferred portion is paid so long as you are continuously employed by the Company (or any controlled affiliate) or its successor from the date of this Agreement through such date, or (y) the date your employment is terminated by the Company
(or any controlled affiliate) or its successor without Cause (as defined in the Plan). For purposes of this Agreement, an asset sale transaction will not be considered a termination of your employment if you are employed by the successor. 

 Notwithstanding anything to the contrary in this Agreement, if the Payment Event is
October 1, 2014, the Company’s obligation to make any Bonus payment will be suspended to the extent and for so long as (x) the making of such Bonus payment would result in a violation or a breach of any covenant contained in any loan
or other bona fide agreement to which the Company or any of its subsidiaries is a party or (y) the Company and its subsidiaries do not have a sufficient amount of cash to support the working capital needs of its business, as determined by the
Company’s board of directors in its sole discretion, and, in each case, subject to Section 409A of the Code and the Treasury Regulations thereunder; provided, however, that, with respect to any suspended Bonus payment, if at any time after
such suspension the conditions in clause (x) and (y) above are both no longer present, then the Company shall make such Bonus payment within 5 business days thereafter. 

The Bonus may be paid in cash or in kind, or in some combination thereof, as determined by the Company in its sole discretion. 

All payments under this Agreement will be subject to all applicable tax withholdings. Notwithstanding anything in this Agreement to the
contrary, in the event that any portion of any payment to you under this Agreement or otherwise may become subject to the excise tax under Section 4999 of the Internal Revenue Code (the “Code”) or may be nondeductible to
the Company (or any affiliate) or its successor under Section 280G of the Code, payment of those amounts shall be contingent upon the Company obtaining the approval of Company stockholders as provided in Section 280G of the Code and the
Treasury Regulations thereunder, and the Company is under no obligation to seek such approval. If such stockholder approval is not obtained, then the portion of the payment under this Agreement that would otherwise cause any amount to be
nondeductible to the Company or its successor under Section 280G of the Code shall be forfeited and you will have no further claim of right to such amount. 

This Agreement contains the entire understanding of the Company and you with respect to the subject matter hereof and supersedes any and all
prior understandings, written or oral. This Agreement may be amended or otherwise modified only by a written instrument signed by both the Company and you. This Agreement and the rights hereunder will be governed by and construed in all respects in
accordance with the laws of the State of Delaware, without regard to its conflict of laws rules. You are not permitted to assign this Agreement or any of your rights hereunder to any other party. 

You acknowledge that you are an employee “at-will” and the Company may terminate your employment at any time for any reason, with or
without cause. You agree that you will sign a release of claims in favor of the Company and its affiliates no later than the date of the first scheduled payment of the Bonus, and no Bonus will be paid if you do not sign the release by that date.
Upon payment of the Bonus, or any earlier dissolution or wind-down of the Company, this Agreement will be cancelled and of no further effect. 

The payments under this Agreement are intended to be exempt from application of Section 409A of the Code. The Company does not guarantee
any particular tax treatment of the compensation arrangement in this Agreement. 
 This Agreement may be executed in counterparts which
together shall be deemed to constitute one instrument. 

  
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 Please acknowledge your agreement to the foregoing by countersigning this Agreement in the space
provided below. 
  

			
	Connecture, Inc.
		
	By:	 	 /s/ Robert Douglas Schneider

	Name:	 	Doug Schneider
	Title:	 	CEO

  

	
	Acknowledged and agreed:
	
	 /s/ Mark Granville

	Mark Granville

 [Signature Page to Bonus Agreement] 

  
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