Document:

EX-10.47

 Exhibit 10.47 

FOURTH AMENDMENT TO THE EMPLOYMENT AGREEMENT OF JULIE JACOBS 

This FOURTH AMENDMENT TO THE EMPLOYMENT AGREEMENT OF JULIE JACOBS (the “Fourth Amendment”), by and between AOL Inc., a
Delaware corporation (“Company”), and Julie Jacobs (“Executive”) is made and entered into as of November 14, 2013 (the “Effective Date”). 

WHEREAS, Executive and Company entered into an employment agreement dated as of June 11, 2010, as first amended as of
March 30, 2011, as further amended as of December 13, 2011, and as further amended as of December 18, 2012 (the “Employment Agreement”); and 

WHEREAS, Company has agreed to change certain terms of the Executive’s compensation and desires to amend the Employment Agreement
to reflect these changes. 
 NOW, THEREFORE, in consideration of the promises and mutual covenants herein and other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, Executive and Company agree as follows: 
  

	1.	Paragraph 4A of the Employment Agreement is hereby replaced with the following: 

 Base
Salary. During the Employment Term and effective as of October 1, 2013 Company shall pay Executive a base salary at the rate of no less than $27,083.34 semi-monthly, less applicable withholdings, which is $650,000.16 on an annual basis
(“Base Salary”). Executive’s semi-monthly paydays fall on the 15th and the last day of each month. If the 15th or the last day
of the month falls on a weekend or bank holiday, the payday is the preceding business day. Executive’s Base Salary will be reviewed annually during the Employment Term and may be increased based on Executive’s individual performance or
increases in competitive market conditions. Executive’s Base Salary may be decreased upon mutual consent of Company and Executive. 
  

	2.	A new section 4H is hereby added to Paragraph 4 of the Employment Agreement: 

Performance Equity Grant. 

(i) Company shall grant to Executive an equity award that shall have an equity value equal to $250,000.00 on the date of grant. Based on the
equity value on the date of grant, one-third of the equity award will be comprised of restricted stock units (“Additional RSUs”) (rounded down to the nearest whole number of units), one-third of the equity award will be comprised of stock
options (“Additional Stock Options”) (rounded down to the nearest whole share), and the remaining one-third of the equity award will be comprised of performance shares based on relative total shareholder return (“Additional
Performance Shares”)(rounded down to the nearest whole share). The equity value of Additional RSUs and Additional Performance Shares will be 

  
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determined based on the closing price of a share of Company common stock, par value $.01 per share, on the date of grant. Equity value of Additional Stock Options will be determined based on the
standard option valuation formula used by Company. The grant of the Additional RSUs, Additional Stock Options and Additional Performance Shares provided by this subsection shall generally be made in an administratively reasonable period of time
following the date that Executive signs the Fourth Amendment, subject to compliance with applicable law and the schedule of the Compensation Committee of the Board. 

(ii) Executive’s Additional RSUs will vest over a three-year period following the date of grant, with one-third vesting on the first
anniversary of the grant date and one-third vesting on each of the second and third anniversaries of the grant date, provided, that Executive is continuously employed with Company from the grant date to each applicable vesting date. Except as may be
otherwise provided in the applicable award agreement, any Additional RSU that is unvested on the date of Executive’s termination for any reason shall be forfeited on such date of termination. 

(iii) Executive’s Additional Stock Options will vest over a three-year period following the date of grant, with one-third of such
Additional Stock Options vesting on the first (1st) anniversary of the date of grant, and monthly thereafter in substantially equal installments over the remaining two (2) years,
provided, that Executive is continuously employed with Company from the grant date to each applicable vesting date. Except as may be otherwise provided in the applicable award agreement, any Additional Stock Option that is unvested on the date of
Executive’s termination for any reason shall be forfeited on such date of termination. 
 (iv) Subject to achievement of performance
objectives, Additional Performance Shares shall vest following the Committee’s certification of performance following the end of a three-year performance period, commencing January 1, 2013, provided, that Executive is continuously
employed with Company from the grant date to the applicable vesting date. Except as may be otherwise provided in the applicable award agreement, any Additional Performance Share that is unvested on the date of Executive’s termination for any
reason shall be forfeited on such date of termination. 
 3. Counterparts. This Fourth Amendment may be signed in several counterparts, each
of which shall be deemed to be an original but all of which together will constitute one and the same instrument. 
 4. Entire Agreement. The
Employment Agreement (as amended by this Fourth Amendment) contains the entire agreement between the parties concerning the subject matter hereof and supersedes all prior agreements, written or oral, between the parties with respect thereto. This
paragraph does not replace or supersede the Entire Agreement paragraph (Paragraph 10.K) in the Employment Agreement except insofar as this Fourth Amendment is incorporated into the scope of the terms of that paragraph. 

  
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 5. Employment Agreement Terms. Except as provided in this Fourth Amendment, all terms and
conditions of the Employment Agreement shall remain in effect and shall not be altered by this Fourth Amendment. 
 (Signature page to
Fourth Amendment follows) 

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

			
	 AOL INC.
  

	By:	 	 /s/ Karen Dykstra

	Name:	 	 Karen Dykstra

	Title:	 	 Chief Financial Officer

	
	EXECUTIVE
	
	 /s/ Julie Jacobs

	Julie Jacobs
	Executive Vice President and General Counsel

  
 4EX-10.95

 Exhibit 10.95 

THE USE OF THE FOLLOWING NOTATION IN THIS EXHIBIT INDICATES THAT A CONFIDENTIAL PORTION HAS BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT
AND THE OMITTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE COMMISSION: [****] 
  

					
	  
 1600 Amphitheatre Parkway

Mountain View, California 94043
	 	 

	  	  
 Tel: 650.253.0000

Fax: 650.618.1806
 www.google.com

 1/13/2012 
 VIA FACSIMILE AND
FIRST CLASS MAIL 
 Julie Jacobs 
 General Counsel 

Aol, Inc. 
 22000 AOL Way 

Dulles, Virginia 20166 
 Re: Listed Company [****] Notification

 Dear Julie, 
 Pursuant to the change-of-control provisions
in agreements between AOL and Google (“Change of Control Provisions”), including but not limited to those in the agreements (as amended) identified below, Google makes the following Listed Company [****] Notification: [****]
is hereby [****] with [****] 
  

	 	•	 	The Amended and Restated Interactive Marketing Agreement between AOL, Inc. and Google Inc., Section 6.5(a)(i) 

	 	•	 	The WebSearch Services Agreement between AOL, Inc. and Google, Inc., Section 6.5(a)(i) 

	 	•	 	The [****] Agreement between Google [****], AOL [****], AOL [****], AOL [****] and AOL [****], Section 11.6.1(a)(i) 

	 	•	 	The [****] Agreement between AOL [****], AOL [****] and Google [****], Section 10.6.1(a)(i) 

	 	•	 	The [****] Agreement between AOL [****] and Google [****], Section 6.5.2(a)(i) 

	 	•	 	The [****] Agreement [****] Agreement [****] between AOL [****] and Google [****], Section 13.1(a)(i) 

	 	•	 	The Marketplace Agreement between AOL, Inc. and Google Inc., Section 21(i)(A) 

 Kind regards, 

Karen Aviram, Director, Strategic Partnerships 
 cc: 

Paul Griffith, Senior Director, Corporate Business Development 

Francis Lobo, SVP, Search & DistributionEX-10.96

 Exhibit 10.96 

THE USE OF THE FOLLOWING NOTATION IN THIS EXHIBIT INDICATES THAT A CONFIDENTIAL PORTION HAS BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT
AND THE OMITTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE COMMISSION: [****] 
  

					
	  
 1600 Amphitheatre Parkway

Mountain View, California 94043
	 	

	  	  
 Tel: 650.253.0000

Fax: 650.618.1806
 www.google.com

 January 7, 2014 
 VIA
FIRST CLASS MAIL 
 Joanne Kelly 
 Chief Counsel 

Aol, Inc. 
 22000 AOL Way 

Dulles, Virginia 20166 
 Re: Listed Company [****] Notification

 Dear Joanne, 
 Pursuant to the change-of-control provisions
in agreements between AOL and Google (“Change of Control Provisions”), including but not limited to those in the agreements (as amended) identified below, Google makes the following Listed Company [****] Notification: [****] is hereby
[****] with [****] 
  

	 	•	 	The Amended and Restated Interactive Marketing Agreement between AOL, Inc. and Google Inc., Section 6.5(a)(i) 

	 	•	 	The WebSearch Services Agreement between AOL, Inc. and Google, Inc., Section 6.5(a)(i) 

	 	•	 	The [****] Agreement between Google [****], AOL [****], AOL [****], AOL [****] and AOL [****], Section 11.6.1(a)(i) 

	 	•	 	The [****] Agreement between AOL [****], AOL [****] and Google [****], Section 10.6.1(a)(i) 

	 	•	 	The [****] Agreement between AOL [****] and Google [****], Section 6.5.2(a)(i) 

	 	•	 	The [****] Agreement [****] Agreement [****] between AOL [****] and Google [****], Section 13.1(a)(i) 

	 	•	 	The Marketplace Agreement between AOL, Inc. and Google Inc., Section 21(i)(A) 

 Accordingly, the first
paragraph in each of the Change of Control Provisions, following the header “Change of Control: Change of Control of AOL: Right to Terminate”, shall now read as follows: 

“Either party shall have the right to terminate this Agreement upon a Change of Control of [****] involving [****] (including [****]) (the
“Listed Companies”) and their Affiliates, or the direct or indirect successors to or assigns of any of the foregoing (including the Affiliates of such successors and assigns) (all of the above, “Named
Companies”).” 
 Kind regards, 
 Google, Inc.

 cc: 
 President for AOL Media Networks 

AOL Deputy General Counsel 
 AOL Global Operations Limited 

AOL LLC 
 Robert Hickernell, Vice President, AOL Search 

Paul Griffith, Senior Director, Business Development

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