Document:

Consulting Agreement between CytRx & Corporate Capital Group

  Exhibit 10.2
 Corporate Capital Group International Ltd.
Inc.
277 Great River Rd
Great River, NV 11739
631.859.9690 fax 631.859.9693
 February 21, 2003
 Mr. Steven A. Kriegsman
CEO
CytRx Corporation
11726 San Vicente Blvd. Suite 650
Los
Angeles, CA 90049
 Re:
Consulting/Engagement
Agreement
 Dear Mr. Kriegsman
 This Consulting/Engagement Agreement (“Agreement’) defines the
scope of services to be provided by Corporate Capital Group International Ltd., Inc. or its affiliates (herein, collectively “CCGI”) to CytRx Corporation (the “Company”), as well as the compensation to be paid by the Company to
CCGI in exchange, pertaining to the consulting services and potential financing contemplated by and between the Company and CCGI’s network of financing partners.
 1.
Services. CCGI will provide the following services under this Agreement. In rendering these
services, CCGI is not guaranteeing that any investors it contacts will purchase stock on the open market or from the Company.
 1.1
Retail Exposure. CCGI will expose the Company to retail stock brokers by delivering information on the Company
approved by the Company and attempting to generate interest in the Company.
 1.2
Institutional Exposure. CCGI will introduce the Company to institutional money managers.
 1.3
Road Shows. CCGI will
coordinate a number of foreign and domestic road shows to meet individual investors, institutional investors and foreign and domestic money managers.
 1.4
Shareholder Awareness. CCGI will work with the Company’s management to generally improve
shareholder awareness.
 

  1.5
Advisory
Services. CCGI will provide advisory services on a non-exclusive basis to the Company in the areas of corporate development: mergers and acquisitions, corporate finance, public offerings and capital placement transactions for
the Company. CCGI will also introduce other firms, products and services to the Company as indicated during the normal course of business and act as coordinator for all activities within its purview. It is also understood that CCGI is acting as an
advisor only, and shall have no authority to enter into any commitments on the Company’s behalf, or to negotiate the terms of any transaction, or to hold any funds or securities in connection with any transaction or to perform any other acts on
behalf of the Company without the Company’s express written consent.
 1.6
Transactions. During the course of the Engagement Period (as defined in Section 2.1), it is anticipated that the
Company may, at its sole discretion, choose to execute one or more corporate development or corporate finance transactions introduced by CCGI. CCGI will assist the Company in executing these transactions on a best efforts basis, on terms
satisfactory to the Company. CCGI will act as non-exclusive advisor or placement agent on these transactions in accordance with the terms of Section 3.2 below.
 2.
Engagement Period. The period of CCGI engagement under this Agreement (the “Engagement
Period”) is eight months, starting on February 21, 2003.
 3.
Transactions. Other than in the Company’s normal course of business activities, any sale, merger, acquisition,
joint venture, strategic alliance, technology partnership, licensing agreement, or other similar agreements introduced by CCGI (except where the Company or Steven Kriegsman has a pre-existing relationship)shall accrue compensation to CCGI under a
percentage fee of the aggregate consideration as shown below.
 3.1
Mergers. For arranging a merger with the Company that closes within six months of the expiration of the Engagement
Period in conjunction with developing market support for the issue, CCGI shall be paid a cash fee equal to 5% on the first $5,000,000 of purchase price and 2% on anything above $5,000,000 of any of the cash or stock received by the Company as part
of the merger. 
 3.2
Corporate
Finance. All securities transactions for the benefit of the Company arranged by CCGI that close within six months of the expiration of the Engagement Period will accrue compensation to CCGI according to the corresponding
categories below:
 3.2.1
Secured Debt
Financing. Other than in the Company’s normal course of business activities, for any traditional financing secured for the Company by CCGI (which includes senior debt financing, revolving lines of credit, equipment lease
financing, purchase order financing, accounts receivable, or any other type of secured debt financing), with the exception of any extension, expansion or revision of the Company’s existing credit facilities, CCGI shall receive upon closing: a
success fee, payable in cash, equal to 1.5% of the gross proceeds received by the Company at each such closing.
 3.2.2
Subordinated Debt Financing. Other than in the Company’s normal course of business activities, for any debt
investment placed for the Company by CCGI 
 
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  (including mezzanine funding, notes, term loans, promissory notes, debentures, etc.), with the exception of any extension, expansion or revision of the
Company’s existing credit facilities, CCGI shall receive upon closing: (i) a success fee, payable in cash equal to 4% of the gross proceeds received by the Company at each such closing, plus (ii) warrants in the entity financed, with a cashless
exercise provision, equal to 4% of the gross proceeds received by the Company at each such Closing, exercisable at a strike price equal to 100% of the fair market value price of the common stock for the Company as of the date the Company receives
the funds, with such warrants to be exercisable in whole or in part, at any time within three years from issuance.
 3.2.3
Equity Investment. For any equity investment into the Company by a financing source secured for the Company by CCGI
for which the Company receives funds (including any common stock, preferred stock, convertible preferred stock, convertible debentures, subordinated debt with warrants or any other securities convertible into common stock), CCGI shall receive upon
closing: (i) a success fee, payable in cash, equal to 6% of the gross amount to be disbursed to the Company on each said closing, plus (ii) warrants in the entity financed, equal to 10% of the gross amount to be disbursed to the Company at each such
closing, exercisable at a strike price equal to 100% of the fair market value price of the common stock for the Company as of the date the Company receives the funds, with such warrants exercisable in whole or in part, at any time within three years
from issuance.
 3.3
Retainer. The Company shall pay CCGI upon execution of this Agreement and on the 21st day of each month thereafter through September 21, 2003 an amount of $10,000. In addition, five-year warrants to
purchase 675,000 shares of the Company’s common stock at an exercise price of $.20 per share with piggyback registration rights will be issued at signing of the Agreement to CCGI. As a condition to the issuance of the foregoing warrants,
warrants to purchase 250,000 shares of the Company’s stock issued to Corporate Consulting International Group, Inc. in July 2002 shall be concurrently cancelled without the payment of any consideration to Corporate Consulting International
Group, Inc. for that cancellation.
 3.4
Intermediary Transactions. In the event CCGI introduces the Company to a broker dealer or another financial institution (where neither the Company nor Steven Kriegsman has a pre-existing relationship) that provides
financing to the Company that closes within six months of the expiration of the Engagement Period. CCGI will be paid a 2% fee at the closing of that financing.
 3.5
Expenses. The Company shall reimburse CCGI for expenses directly related to the services
performed pursuant to this Agreement. Any expenditure in excess of $500 shall be approved in writing in advance by the Company.
 4.
Other
 4.1
Offering Materials. CCGI
will use no offering materials other than such materials prepared by the Company and approved by Company’s counsel. The Company agrees to use its best efforts to approve or prepare, as necessary, any offering materials 
 
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  within 30 days from the date the Company advises CCGI that it intends to execute a financial transaction, in accordance with Section 1.6
hereof.
 4.2
Consummation of
Transactions. CCGI understands that the Company has no obligation to close any transaction brought to the Company by CCGI and CCGI only gets paid if the Company closes a transaction brought to it by CCGI.
 4.3
Confidentiality. This
Agreement is for the confidential use of the Company and CCGI only and may not be disclosed by the Company to any person other than its attorneys, accountants and financial advisors, and only on a confidential basis in connection with the proposed
transaction or financing, except where disclosure is required by law or is mutually consented to in writing by CCGI and the Company.
 4.4
Performance. Notwithstanding any other provision of this Agreement, nothing set forth herein shall be construed as a
firm commitment to execute any transaction or place the full amount of any offering or any minimum portion thereof. CCGI cannot guarantee the successful conclusion of any transaction, for which the Company has the right to reject, for any reason, in
its sole and absolute discretion.
 4.5
Indemnification. The Company shall indemnify and hold harmless CCGI from and against all claims, damages, losses, and liabilities (including, without limitation, reasonable attorneys’ fees and expenses) arising
out of or based upon (1) any misstatement or omission or alleged misstatement or omission, in any Company documentation or any other materials or information supplied or approved by the Company which are disseminated by CCGI in accordance with the
terms of this Agreement to third parties, including financing sources; or (ii) any agreement between the Company and any financing source; except that the Company shall not be liable for any claim, damage, loss or liability which is finally
determined to have resulted from CCGI’s fraud, gross negligence or willful misconduct. In any action where the Company’s indemnity applies, CCGI shall be entitled to its own separate counsel at the Company’s expense if CCGI reasonably
determines that there is a conflict that precludes adequate representation of CCGI by counsel for the Company. CCGI shall indemnify and hold harmless the Company from and against all claims, damages, losses and liabilities (including without
limitation) reasonable attorneys’ fees and expenses arising out of CCGI’s conduct under this Agreement if such conduct was in breach of the terms of this Agreement or involved gross negligence or willful misconduct on the part of CCGI. The
Company shall be entitled to retain its own separate counsel at CCGI’s expense if the Company reasonably determines that there is a conflict that precludes adequate representation of the Company by CCGI’s counsel. Neither termination nor
completion of this Agreement shall affect these indemnification provisions, which shall survive any such termination or completion and remain operative and in full force and effect.
 4.6
Governing Law/Arbitration.
The terms of this Agreement will be governed by and interpreted in accordance with the internal laws of the State of California any dispute shall be resolved by binding arbitration with the American Arbitration Association in Los Angeles,
California.
 
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  If the foregoing is acceptable, please sign and return to CCGI a copy of this Agreement, which shall represent the entire agreement between us with respect
to the matters addressed herein. We look forward to working with you and remain.
  

	 Yours very truly,
 
 Corporate Capital Group International Ltd., Inc.
 	  
 	  
 
	 By: 
 	 
 /s/ PETER SIMONE
 	  
 	  
 	  
 
	  
 	 
 	  
 	  
 	  
 
	  
 	 Peter Simone
 President
 	  
 	  
 	  
 
	 
 Dated: 
 	         2/21/03
 	  
 	  
 	  
 
	  
 	 
 	  
 	  
 	  
 

  

	 CytRx Corporation
 	  
 	  
 
	 By: 
 	 
 /s/ STEVEN A. KRIEGSMAN
 	  
 	  
 	  
 
	  
 	 
 	  
 	  
 	  
 
	  
 	 Steven A. Kriegsman
 Chief Executive Officer
 	  
 	  
 	  
 
	 
 Dated: 
 	         2/21/03
 	  
 	  
 	  
 
	  
 	 
 	  
 	  
 	  
 

 
 In consideration of CytRx Corporation entering into the above Agreement, the undersigned agrees to
the cancellation of warrants to purchase 250,000 shares of CytRx Corporation common stock issued to the undersigned in July 2002.
  

	 Corporate Consulting International Group
 	  
 	  
 
	 By: 
 	 
 /s/ PETER SIMONE
 	  
 	  
 	  
 
	  
 	 
 	  
 	  
 	  
 
	  
 	  
 	  
 	  
 	  
 
	  
 	 
 	  
 	  
 	  
 
	  
 	 [Title]
 	  
 	  
 	  
 
	 
 Dated: 
 	         2/21/03
 	  
 	  
 	  
 
	  
 	 
 	  
 	  
 	  
 

 
 
5Employment Agreement with Kathleen Rae

 
EXHIBIT 10.1

 
EMPLOYMENT AGREEMENT 
 
This Employment Agreement (the “Agreement”) is made
and entered into effective as of April 2, 2003 (the “Effective Date”), by and between Kathleen Rae (“Employee”) and InfoSpace, Inc. (the “Company”). 
 
In consideration of the mutual covenants herein contained, the employment of Employee by the Company, and
other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: 
 
1. Certain Definitions. 
 
(a)  “Cause”. For these purposes, “Cause” means (i) any act of criminal or fraudulent misconduct
taken by Employee in connection with Employee’s responsibilities as an employee of the Company which is intended to result in Employee’s personal enrichment, (ii) Employee’s conviction of a felony, (iii) breach of a fiduciary duty
owed by Employee to the Company or its stockholders, or (iv) continued material violations by Employee of Employee’s employment obligations to the Company after Employee has been given adequate written notice of such noncompliance and Employee
has had a minimum of sixty (60) days to cure such noncompliance. 
 
(b)  “Change of Control”. For purposes of this Agreement, a “Change of Control” is defined as the occurrence of any of the following: 
 
(i)  Any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities
Exchange Act of 1934, as amended) is or becomes the “beneficial owner” (as defined in Rule 13d-3 under said Act), directly or indirectly, of securities of the Company representing 50% or more of the total voting power represented by the
Company’s then outstanding voting securities; 
 
(ii)  Any merger or consolidation of the Company with any other corporation that has been approved by the stockholders of the Company, other than 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 entity) more than fifty percent (50%) of the total voting power represented by the
voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation, or the stockholders of the Company approve a plan of complete liquidation of the Company; 
 
(iii)  Any sale or disposition by the Company, in
one transaction or a series of related transactions, of all or substantially all the Company’s assets; or 
 
(iv)  A change in the composition of the Company’s Board of Directors (the “Board”) occurring within a two-year
period, as a result of which fewer than a majority of the directors are Incumbent Directors. An “Incumbent Director” is defined as a director who either (A) is a director of the Company as of the Effective Date, or (B) is elected, or
nominated for election, to the Board with the affirmative votes of at least a majority of the Incumbent Directors at the time of such election or nomination. For purposes of the preceding, individuals who are elected pursuant to clause (B) also
shall be considered Incumbent Directors. 
 
(c)  “Disability”. For purposes of this Agreement, “Disability” is defined as Employee’s inability to perform his employment duties to the Company hereunder for 180 days (in the aggregate) in
any one-year period as determined by an independent physician selected by the Company. 

 
(d)  “Good Reason”. For purposes of this Agreement, “Good Reason” is defined as the occurrence of any of the following without Employee’s express prior written consent: (i) a significant
change of or to Employee’s duties, position, responsibilities, title or reporting relationship (other than pursuant to a promotion); (ii) a substantial reduction, unless such reduction is nondiscriminatory as to Employee, of the facilities and
perquisites available to Employee; (iii) a reduction by the Company of Employee’s base salary or a reduction or other material change to Employee’s incentive bonus inconsistent with the provisions of Section 5(b) below; (iv) a material
reduction by the Company in the kind or level of employee benefits to which Employee is entitled; (v) the relocation of Employee to a facility or a business location more than twenty-five (25) miles from the location of the Company’s
headquarters as of the Effective Date; (vi) any purported termination of Employee other than for Cause; (vii) a material breach of this Agreement by the Company; or (viii) a change in the composition of the Board occurring within a two-year period,
as a result of which fewer than a majority of the directors are Incumbent Directors. 
 
(e)  “Release”. For purposes of this Agreement, “Release” is defined as a release of claims in a form substantially equivalent to that traditionally used by the
Company in the ordinary course in connection with separating employees; provided, however, that notwithstanding the foregoing, such Release is not intended to and will not waive Employee’s rights: (i) to indemnification pursuant to any
applicable provision of the Company’s Bylaws or Certificate of Incorporation, as amended, pursuant to any written indemnification agreement between Employee and the Company, or pursuant to applicable law; (ii) to vested benefits or payments
specifically to be provided to Employee under this Agreement or any Company employee benefit plans or policies; (iii) respecting any claims which Employee may have solely by virtue of Employee’s status as a shareholder of the Company; or (iv)
respecting any claims by Employee for defamation, libel or slander. 
 
2. Duties and Scope of Employment. The Company shall employ Employee in the position of President and Chief Operating Officer. Employee will render such business and professional services in the performance of Employee’s
duties, consistent with Employee’s position within the Company, as shall reasonably be assigned to Employee at any time and from time to time by the Company’s Chief Executive Officer or the Board of Directors. 
 
3. Obligations. While employed hereunder, Employee will perform his/her
duties faithfully and to the best of Employee’s ability. Employee agrees not to actively engage in any other employment, occupation or consulting activity for any direct or indirect remuneration without the prior approval of the Chief Executive
Officer; provided, however, that notwithstanding anything to the contrary in the Company’s standard form of Employee Non-Disclosure, Invention Release and Non-Competition Agreement attached hereto as Exhibit A, Employee may engage in
non-competitive business or charitable activities so long as such activities do not materially interfere with Employee’s responsibilities to the Company. 
 
4. At-Will Employment. Subject to the terms and conditions hereof including without limitation Sections 6 and 7, the Company and the Employee
acknowledge that the Employee’s employment is and shall continue to be terminable at-will, either party able to terminate the employment relationship with or without Cause. 
 
5. Compensation and Benefits. 
 
(a)  Base Compensation. The Company shall pay Employee as compensation for Employee’s
services hereunder an annual base salary of $300,000.00. Such salary shall be subject to applicable tax withholding and shall be paid periodically in accordance with normal Company payroll practices. The base salary shall be subject to annual review
by the CEO and the Compensation Committee of the Board but in no event shall be less than $300,000.00. 
 

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(b)  Incentive Bonus. In addition to the base salary, Employee may receive a performance bonus during each year of employment with the Company under this Agreement equal to an amount to be determined by the CEO and
the Compensation Committee of the Board. The amount of such annual performance bonus shall not be less than 50% of Employee’s then current base salary for the applicable fiscal year. Such performance bonus, if any, shall be based upon
performance objectives to be mutually determined by the CEO and Employee. 
 
(c)  Benefits. Employee shall be eligible to participate in the employee benefit plans which are available or which become available to other employees of the Company, with the adoption or maintenance of
such plans to be in the discretion of the Company, subject in each case to the generally applicable terms and conditions of the plan or program in question and to the determination of any committee administering such plan or program. Such benefits
shall include participation in the Company’s group medical, life, disability, and retirement plans, and any supplemental plans available to senior executives of the Company from time to time. The Company reserves the right to change or
terminate its employee benefit plans and programs at any time. 
 
(d)  Expenses. The Company will reimburse Employee for reasonable business expenses incurred by Employee in the furtherance of or in connection with the performance of Employee’s duties hereunder, in accordance
with the Company’s expense reimbursement policy as in effect from time to time. 
 
(e)  Stock Options. As of the Effective Date, Employee will be granted a non-qualified stock option (the “Effective Date Option”) to purchase 300,000 shares of the
Company’s common stock at an exercise price equal to the per share equivalent of the fair market value of the Company’s common stock on the date of grant as determined by the closing price of the Company’s common stock on NASDAQ NMS
on the date of grant, or, if there is no such reported price on the date of grant, the closing price on the trading day on NASDAQ NMS first preceding the date of grant. Subject to the accelerated vesting provisions set forth herein, the Effective
Date Option shall vest as to twenty-five percent (25%) of the shares subject thereto on the first anniversary of the grant date and shall vest ratably on a monthly basis (6,250 each month) thereafter over the three (3) year period commencing on the
first anniversary of the grant date subject to Employee’s continued full-time employment by the Company on the relevant vesting dates. The Effective Date Option shall be subject to the terms and conditions of the Company’s Restated 1996
Stock Incentive Plan (the “1996 Plan”) and the stock option agreement between Employee and the Company; provided, however, that notwithstanding the foregoing, in the event of a conflict between the terms and conditions of the
Effective Date Option and this Agreement, the terms and conditions of this Agreement shall prevail. 
 
6. Termination of Employment. 
 
(a)  Termination by Company for Cause; Voluntary Termination. In the event Employee’s employment with the Company is terminated for Cause by the Company or voluntarily by Employee
(other than for Good Reason) (i) the Company shall pay Employee any unpaid base salary due for periods prior to the date of termination of employment (“Termination Date”); (ii) the Company shall pay Employee all of Employee’s accrued
and unused “paid time off” (“PTO”), if any, through the Termination Date; and (iii) following submission of proper expense reports by Employee, the Company shall reimburse Employee for all expenses reasonably and necessarily
incurred by Employee in connection with the business of the Company through the Termination Date. These payments shall be made promptly upon termination and within the period of time mandated by applicable law. Employee shall retain all stock
options that are vested as of the Termination Date and such stock options may be exercised in accordance with the provisions of the applicable stock option plan(s) and the respective stock option agreement(s). 
 

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(b)  Termination by Company without Cause. The Company may terminate Employee’s employment without Cause upon thirty (30) days written notice to Employee. If Employee’s employment with the Company is
terminated by the Company without Cause, and Employee signs and does not revoke a Release, then Employee shall be entitled to the following: 
 
(i)  a one-time “lump sum” payment of severance pay (less applicable withholding taxes) in an amount equal to
Employee’s annual base salary, as then in effect, to be paid in accordance with the Company’s normal payroll policies no later than the Company’s first regular payroll date following the Termination Date; 
 
(ii)  a one-time “lump sum” payment of
severance pay (less applicable withholding taxes) in an amount equal to 100% of Employee’s annual bonus rate, as then in effect, to be paid in accordance with the Company’s normal payroll policies no later than the Company’s first
regular payroll date following the Termination Date; and 
 
(iii)  the same level of health (i.e., medical, vision and dental) coverage and benefits as in effect for the Employee on the day immediately preceding the Termination Date; provided, however, that (A) the Employee
constitutes a qualified beneficiary, as defined in Section 4980B(g)(1) of the Internal Revenue Code of 1986, as amended; and (B) Employee elects continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended
(“COBRA”), within the time period prescribed pursuant to COBRA. The Company shall continue to provide Employee with Company-paid health coverage until the earlier of (y) the date Employee is no longer eligible to receive continuation
coverage pursuant to COBRA, or (z) twelve (12) months from the Termination Date. 
 
(iv)  Fifty percent (50%) of the Employee’s then unvested stock options shall immediately vest and become exercisable and Employee shall have twelve (12) months following the Termination
Date to exercise such vested shares; provided, however, that in the event of a conflict between the terms and conditions of any such stock option agreement and this Agreement, the terms and conditions of this Agreement shall prevail unless
the conflicting provision(s) in any such stock option agreement shall be more favorable to Employee in which case the provision(s) more favorable to Employee shall govern; provided further, however, that notwithstanding the foregoing in no
event shall the extended twelve (12) month exercise period specified in this Section 6(b)(iv) modify or extend the Expiration Date of any stock option as set forth in such stock option agreement. 
 
(c)  Termination by Employee for Good Reason.
If Employee terminates employment with the Company for Good Reason within 90 days of a Good Reason event, or within twelve (12) months if the Good Reason event is a Change of Control, and Employee signs and does not revoke a Release, then Employee
shall be entitled to the same benefits as set forth in Sections 6(b)(i) through 6(b)(iv) above. 
 
(d)  Death. In the event of Employee’s death while employed hereunder, Employee’s beneficiary (or such other person(s) specified by will or the laws of descent and
distribution) will receive (i) continuing payments of severance pay (less applicable withholding taxes) at a rate equal to Employee’s base salary for a period of ninety (90) days from Employee’s death, to be paid periodically in accordance
with the Company’s normal payroll policies, (ii) Company-paid COBRA benefits as specified in Section 6(b)(iii) above for ninety (90) days from Employee’s death, and (iii) have the right to exercise Employee’s stock options which are
vested as of the date of Employee’s death for one (1) year following Employee’s death. 
 
(e)  Disability. In the event of Employee’s termination of employment with the Company due to Disability, Employee shall be entitled to continuing payments of base salary (less
applicable withholding taxes) until Employee is eligible for long-term disability payments under the Company’s group disability policy; provided, however, that in no event shall such period of continued base salary exceed 180 days
following termination. 
 

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7. Change of Control
Benefits. If Employee (i) is terminated other than for Cause by the Company within ninety (90) days prior to a Change of Control or as a result of or in connection with a Change of Control or (ii) is terminated other than for Cause by the
Company (or its successor corporation) or resigns for Good Reason within twelve (12) months following a Change of Control, and provided that Employee signs and does not revoke a Release, then Employee shall be entitled to the same benefits as set
forth in Sections 6(b)(i) through 6(b)(iv) above. 
 
Notwithstanding the foregoing, in the event that the benefits provided for in this Section 7 (i) constitute “parachute payments” within the meaning of Section 280G of the Code, and (ii) would be subject to the excise tax
imposed by Section 4999 of the Code (the “Excise Tax”), then Employee’s benefits otherwise payable under this Section 7 shall be reduced by the minimum extent necessary such that no portion of such benefits would be subject to the
Excise Tax. Unless the Company and Employee otherwise agree in writing, any determination required under this Section 7 shall be made in writing by the Company’s independent public accountants (the “Accountants”), whose determination
shall be conclusive and binding upon Employee and the Company for all purposes. For purposes of making the calculations required by this Section 7, the Accountants may make reasonable assumptions and approximations concerning applicable taxes and
may rely on reasonable, good faith interpretations concerning the application of Section 280G and 4999 of the Code. The Company and Employee shall furnish to the Accountants such information and documents as the Accountants may reasonably request in
order to make a determination under this Section 7. The Company shall bear all costs the Accountants may reasonably incur in connection with any calculations contemplated by this Section 7. 
 
8. No Impediment to Agreement. Employee hereby represents to the
Company that Employee is not, as of the date hereof, and will not be during Employee’s employment with the Company, employed under contract, oral or written, by any other person, firm or entity, and is not and will not be bound by the
provisions of any restrictive covenant or confidentiality agreement which would constitute an impediment to, or restriction upon, Employee’s ability to enter this Agreement and to perform the duties of Employee’s employment. 
 
9. Confidentiality, Non-Competition and Non-Solicitation. Employee
agrees, as a condition to Employee’s employment with the Company, to execute the Company’s standard form of Employee Non-Disclosure, Invention Release and Non-Competition Agreement attached hereto as Exhibit A. 
 
10. Arbitration. Employee agrees, as a condition to Employee’s
employment with the Company, to execute the Company’s standard form Arbitration Agreement, as amended, attached hereto as Exhibit B. 
 
11. Successors; Personal Services. The services and duties to be performed by the Employee hereunder are personal and may not be assigned or
delegated. This Agreement shall be binding upon and inure to the benefit of the Company and its successors and assigns, and the Employee and Employee’s heirs and representatives. 
 
12. Notices. Notices and all other communications contemplated by this Agreement shall be in writing and shall be
deemed to have been duly given when personally delivered or when mailed by U.S. registered or certified mail, return receipt requested and postage prepaid. In the case of the Employee, mailed notices shall be addressed to Employee at the home
address, which Employee most recently communicated to the Company in writing, with a copy to Employee’s counsel as designated by Employee whose address is provided below. In the case of the Company, mailed notices shall be addressed to its
corporate headquarters, and all notices shall be directed to the attention of its General Counsel. 
 

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13. Miscellaneous
Provisions. 
 
(a)  Waiver.
No provision of this Agreement shall be modified, waived or discharged unless the modification, waiver or discharge is agreed to in writing and signed by the Employee and by an authorized officer of the Company (other than the Employee). No waiver
by either party of any breach of, or of compliance with, any condition or provision of this Agreement by the other party shall be considered a waiver of any other condition or provision or of the same condition or provision at another time.

 
(b)  Entire Agreement. This
Agreement (including exhibits) shall supersede and replace all prior agreements or understandings relating to the subject matter hereof, and no agreements, representations or understandings (whether oral or written or whether express or implied)
which are not expressly set forth in this Agreement have been made or entered into by either party with respect to the relevant matter hereof. 
 
(c)  Choice of Law. The validity, interpretation, construction and performance of this Agreement shall be governed by the
internal substantive laws of the State of Washington without reference to any choice of law rules. 
 
(d)  Severability. The invalidity or unenforceability of any provision or provisions of this Agreement shall not affect
the validity or enforceability of any other provision hereof, which shall remain in full force and effect. 
 
(e)  No Assignment of Benefits. The rights of any person to payments or benefits under this Agreement shall not be made
subject to option or assignment, either by voluntary or involuntary assignment or by operation of law, in respect of bankruptcy, garnishment, attachment or other creditor’s process, and any action in violation of this subsection shall be void.

 
(f)  No Duty to Mitigate.
Employee shall not be required to mitigate the amount of any payment contemplated by this Agreement, nor shall any such payment be reduced by any earnings that Employee may receive from any other source. 
 
(g)  Employment Taxes. All payments made
pursuant to this Agreement will be subject to withholding of all applicable income, health insurance and employment taxes. 
 
(h)  Assignment by Company. The Company may assign its rights under this Agreement to an affiliate (as defined under the
Securities Exchange Act of 1934), and an affiliate may assign its rights under this Agreement to another affiliate of the Company or to the Company. In the case of any such assignment, the term “Company” when used in a section of this
Agreement shall mean the corporation that actually employs the Employee. 
 
(i)  Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together will constitute one and the same instrument. 
 

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IN WITNESS WHEREOF, each of
the parties has executed this Agreement, in the case of the Company by its duly authorized officer, as of the day and year first above written. 
 

	 COMPANY:
	 	 	 	 INFOSPACE, INC.

	
	 	 	 	 	 	 	 /s/    JAMES F. VOELKER

	 	 	 	 	 	 	 By: James F. Voelker
 President and Chief Executive Officer

 

	
	 EMPLOYEE: 
	 	 	 	 /s/    KATHLEEN RAE 

	 	 	 	 	 	 	 Kathleen Rae

 

7

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