Document:

EX-10.1

 Exhibit 10.1 
 Confidential Materials omitted and filed separately with the 
 Securities and
Exchange Commission. Double asterisks denote omissions. 
 THIRD AMENDMENT TO LEASE 

This THIRD AMENDMENT TO LEASE (this “Amendment”) is dated for reference purposes as of the
16th day of April, 2013, between FSP-RIC, LLC
(“Landlord”), and DENDREON CORPORATION, a Delaware corporation (“Tenant”). 
 RECITALS 
 A. Landlord, as successor to The Northwestern Mutual Life
Insurance Company, and Tenant are parties to that certain Office Lease dated February 26, 2011, as amended by that certain First Amendment to Office Lease dated March 8, 2011, and by that certain Second Amendment to Office Lease dated
July 27, 2012, and by that certain Third Amendment to Office Lease dated June 27, 2012, which was rescinded in its entirety by that certain Rescission Agreement dated June 27, 2012 (collectively the “Lease”)
pursuant to which Tenant leased certain space from Landlord in the building located at 1301 Second Avenue in Seattle, Washington.  
 B. The parties have agreed to remove Floors 33 and 34 from the Premises on the terms and conditions set forth herein. 
 AGREEMENTS 
 NOW, THEREFORE, in consideration of the mutual covenants and
agreements herein contained, and other good and valuable consideration, the receipt and sufficiency of which are hereby mutually acknowledged, the parties hereto agree as follows: 

1. Floor 33. Tenant shall vacate Floor 33 and surrender possession of Floor 33 to Landlord on or before June 30, 2013,
and upon such surrender Floor 33 shall no longer be considered part of the Premises. Tenant shall remove all of its furniture, fixtures and equipment from the floor and shall leave the floor in “broom clean” condition no worse than its
condition on March 28, 2013 , reasonable wear and tear excepted. Tenant shall pay Landlord a sum equal to the Base Rent and Additional Rent on Floor 33 through September 30, 2013. Such amount shall be payable monthly in advance. The
parties agree that Floor 33 contains 22,583 square feet of Rentable Area. Provided that Tenant has surrendered possession as required above, effective as of October 1, 2013, Tenant’s Proportionate Share shall be reduced to fifteen and
54/100 percent (15.54%) and Tenant’s Parking Allocation shall be reduced by 15 spaces. If Tenant does not vacate Floor 33 by September 30, 2013, Tenant shall be deemed to be holding over on such floor and the terms of
Section 33.11 of the Lease shall apply to that floor without further notice or demand from Landlord. 
 2.
Floor 34. Tenant shall vacate Floor 34 and surrender possession of Floor 34 to Landlord on or before April 30, 2014, and upon such surrender Floor 34 shall no longer be considered part of the Premises. Prior to surrendering
possession of Floor 34, Tenant shall (a) remove all of its furniture, fixtures and equipment from the floor and shall leave the floor in “broom clean” condition no worse than its condition on March 28, 2013, reasonable wear and
tear excepted, and (b) design and install a barrier acceptable to Landlord in the stairwell connecting Floors 34 and 35 of the Premises, provided that Tenant 

 
shall only be responsible for designing and installing the portion of the barrier that will be constructed around the top of the stairwell on Floor 35 (and not for any portion of the barrier that
will surround the stairwell on Floor 34). Landlord shall reimburse Tenant for the cost of designing the barrier. Tenant shall pay Landlord a sum equal to the Base Rent and Additional Rent on Floor 34 through July 31, 2014. Such amount
shall be payable monthly in advance. The parties agree that Floor 34 contains 22,583 square feet of Rentable Area. Provided that Tenant has surrendered possession as required above, effective as of July 31, 2014, Tenant’s Proportionate
Share shall be reduced to twelve and 95/100 percent (12.95%) and Tenant’s Parking Allocation shall be reduced by 14 spaces. If Tenant does not vacate Floor 34 by July 31, 2014, Tenant shall be deemed to be holding over on such
floor and the terms of Section 33.11 of the Lease shall apply to that floor without further notice or demand from Landlord. 
 3. Calculation of Base Rent. The chart included in Section 4.1 of the Lease is deleted in its entirety and replaced with the following: 

 

					
	 Period
	  	Annual Base Rent per square
foot of Rentable Area in the
Premises	 
	 Months 1 to 2
	  	$	[	**] 
	 Months 3 - December 31, 2012
	  	$	[	**] 
	 January 1, 2013 to December 31, 2013
	  	$	[	**] 
	 January 1, 2014 to December 31, 2014
	  	$	[	**] 
	 January 1, 2015 to December 31, 2015
	  	$	[	**] 
	 January 1, 2016 to December 31, 2016
	  	$	[	**] 

 Monthly Base Rent shall be equal to one twelfth of the Annual Base Rent multiplied by the Rentable Area
of the Premises. 
 4. Parking. From and after the date hereof (a) Tenant shall have no further rights to, nor any
further obligations with respect to, reserved parking spaces (including the space for the large Dodge pickup truck or van referenced in Section 1.1(t) of the Lease), (b) Tenant’s entire parking allocation under the Lease shall
be for unreserved parking spaces, and (c) all references to reserved parking rates shall be of no further force or effect. Landlord may restripe the reserved parking stalls mentioned in Section 1.1(t) of the Lease to their original
configuration at any time. 
 5. Condition. If Landlord has not entered into a binding lease with a replacement
tenant for floors 33 and 34 within thirty (30) days after the date hereof, Landlord may rescind this Amendment by written notice to Tenant, provided that such rescission right terminates and is of no further effect following thirty
(30) days after the date hereof if not exercised by Landlord prior thereto. 
 6. Renewal Options.
Section 32(1) of the Lease is amended to replace the first sentence with the following, “Provided that (i) no Event of Default, as defined in Article 25.1 of this Lease, then exists, (ii) no Chronic Default, as
defined in Article 25.1 of this Lease, has occurred or is continuing, and (iii) as of the Expiration Date, Tenant and/or any affiliate of Tenant is in occupancy of no less than three (3) full contiguous floors in the Building, then
Tenant shall have the right and option, exercisable by giving written notice thereof at least nine (9) months, but not more than twelve (12) months prior to the Expiration Date (“Renewal Notice”), to extend the Term
of this Lease to May 10, 2019 (the “Renewal Term”). Such renewal shall apply solely to floors in the Building that Tenant and/or any affiliate of 

  
 2 

 
Tenant occupies in whole or in part as of the Expiration Date and must cover either (a) the highest three (3) contiguous full floors in the Premises, or (b) the lowest three
(3) contiguous full floors in the Premises, and in either case will not cover any floors that are not contiguous with such three (3) floors.” 
 7. Broker’s Commission. Tenant represents and warrants to Landlord that it has had no dealing with any broker or agent in connection with this Amendment. Tenant shall indemnify, defend
and hold Landlord harmless from and against any and all liabilities for any other commissions or other compensation or charges claimed by any broker or agent based on dealings with Tenant. 

8. Defined Terms; Conflict. Capitalized terms used herein and not otherwise defined shall have the meanings given in the
Lease. If there is any conflict between the terms, conditions and provisions of this Amendment and the terms and conditions of the Lease, the terms, conditions and provisions of this Amendment shall prevail. 

9. No Further Amendment. This Amendment sets forth the entire agreement of the parties as to the subject matter hereof and
supersedes all prior discussions and understandings between them. Except as expressly modified by this Amendment, all terms, covenants and provisions of the Lease shall remain unmodified and in full force and effect and are hereby expressly ratified
and confirmed. 
 10. Confirmation. Tenant represents and warrants to Landlord that to the best of Tenant’s
knowledge and belief: (a) no defenses or offsets exist to the enforcement of the Lease by Landlord and there are no unresolved or pending disputes or claims between Landlord and Tenant with respect to the Lease or the Premises; (b) neither
Tenant nor Landlord is in default in the performance of the Lease; and (c) neither Tenant nor Landlord has committed any breach of the Lease, nor has any event occurred which, with the passage of time or the giving of notice or both, would
constitute a default or a breach by Tenant or Landlord under the Lease. As additional consideration for this Amendment, Tenant hereby waives and releases any and all claims, known and unknown, it may have or assert against Landlord under the Lease
arising prior to the date of this Amendment. 
 11. UBTI. Landlord and Tenant agree that all Rent payable by
Tenant to Landlord shall qualify as “rents from real property” within the meaning of both Sections 512(b)(3) and 856(d) of the Internal Revenue Code of 1986, as amended (the “Code”) and the U.S. Department of
Treasury Regulations promulgated thereunder (the “Regulations”). In the event that Landlord, in its sole and absolute discretion, determines that there is any risk that all or part of any Rent shall not qualify as “rents
from real property” for the purposes of Sections 512(b)(3) or 856(d) of the Code and the Regulations promulgated thereunder, Tenant agrees (1) to cooperate with Landlord by entering into such amendment or amendments as Landlord deems
necessary to qualify all Rents as “rents from real property,” and (2) to permit an assignment of this Lease; provided, however, that any adjustments required pursuant to this Section shall be made so as to produce the equivalent Rent
(in economic terms) payable prior to such adjustment. 
 12. Miscellaneous. This Amendment may not be amended or
rescinded in any manner except by an instrument in writing signed by a duly authorized officer or representative of each party hereto. Each of the schedules or exhibits referred to herein (if any), is incorporated herein as if fully set forth in
this Amendment. If any of the provisions of this Amendment be found to be invalid, illegal or unenforceable by any court of competent jurisdiction, such provision shall be stricken and the remainder of this Amendment shall nonetheless remain in full
force and effect unless striking such provision shall materially alter the intention of the parties. No waiver of any right under this Amendment shall be effective unless contained in a writing signed by a duly authorized officer or representative
of the party sought to be charged with the waiver and no waiver of any right arising from any breach or failure to perform shall be deemed to be a waiver of any future right or of any other right arising under this Amendment. 

  
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 13. Representation. Tenant acknowledges that it has been represented, or has
had sufficient opportunity to obtain representation of counsel with respect to this Amendment. Tenant represents to Landlord that Tenant has read and understood the terms hereof and the consequences of executing this Amendment and that, except as
expressly set forth herein, no representations have been made to Tenant to induce the execution of this Amendment. Tenant further waives any right it may have to require the provisions of this Amendment to be construed against the party who drafted
it. 
 14. Authority. Each person signing this Amendment on behalf of the respective parties represents and
warrants that he or she is authorized to execute and deliver this Amendment, and that this Amendment will thereby become binding upon Landlord and Tenant, respectively. 
 15. Counterparts. This Amendment may be executed in counterparts, each of which will be deemed to be an original, but all of which together will constitute one and the same document.

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

LANDLORD: 

FSP-RIC, LLC, 
 a Delaware limited liability company 
 By: Fifth Street Properties, LLC,

 a Delaware limited liability company, 
 its sole member 
 By: CWP Capital Management LLC, 

a Delaware limited liability company, 
 its manager 
  

					
		 	By:	 	 /s/ Joseph A. Corrente

		 	Name: Joseph A. Corrente
		 	Title: Senior Vice President

 TENANT: 
 DENDREON CORPORATION, 
 a Delaware corporation 

 

					
		 	 By:
	 	 /s/ Greg Schiffman

		 	 Name: Greg Schiffman

		 	 Title: CFO

  
 4 

 LANDLORD ACKNOWLEDGMENT 

 

	
	  

State of California
 County of Los
Angeles)
  
 On 4-17-2013 before me, LeAnn Erin Holsapple

personally appeared Joseph Corrente,
  

who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me
that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.

 
 I certify under PENALTY OF PERJURY under the laws of the State of California that
the foregoing paragraph is true and correct.
  
 WITNESS my hand and official
seal.
  
 Signature /s/ LeAnn Erin Holsapple
                             (Seal)

 

  

  
 5 

 Tenant Acknowledgement 

 

					
	STATE OF WASHINGTON	 	)	  	
		 	) ss.	  	
	COUNTY OF KING	 	)	  	

 On this 4th day of April, 2013, before me, a Notary Public in and for the State of Washington, personally appeared Greg Schiffman,
personally known to me (or proved to me on the basis of satisfactory evidence) to be the person who executed this instrument, on oath stated that he/she was authorized to execute the instrument, and acknowledged it as the CFO of DENDREON
CORPORATION, to be the free and voluntary act and deed of said corporation for the uses and purposes mentioned in the instrument. 
 IN WITNESS WHEREOF, I have hereunto set my hand and official seal the day and year first above written. 
  

	
	 /s/ Julia A. Cross

	NOTARY PUBLIC in and for the State of Washington,
residing at Redmond, Washington
	My appointment expires 9-18-16
	Print Name Julia A. Cross

  
 6EX-10.33

 Exhibit 10.33 

 

					
		  	MARCHEX, INC.	  	Grant No.:         
		  	INCENTIVE STOCK OPTION NOTICE	  	

 This Notice evidences the award of incentive stock options (each, an “Option” or
collectively, the “Options”) that have been granted to you, [NAME], subject to and conditioned upon your agreement to the terms of the attached Incentive Stock Option Agreement (the “Agreement”). The
Options entitle you to purchase shares of Class B common stock, par value $0.01 per share (“Common Stock”), of Marchex, Inc., a Delaware corporation (the “Company”), under the Marchex, Inc. 2012 Stock
Incentive Plan (the “Plan”). The number of shares you may purchase and the exercise price at which you may purchase them are specified below. This Notice constitutes part of and is subject to the terms and provisions of the
Agreement and the Plan, which are incorporated by reference herein. You must return an executed copy of this Notice to the Company within 30 days of the date hereof. If you fail to do so, the Options may be rendered null and void in the
Company’s discretion. 
 Grant Date: [GRANT DATE] (the “Grant Date”). 

Number of Options: [NUMBER] Options, each permitting the purchase of one Share. 
 Exercise Price: [PRICE] per share. 
 Expiration Date: The
Options expire at 5:00 p.m. Eastern Time on the last business day coincident with or prior to the 10th anniversary of the Grant Date (the “Expiration Date”), unless fully exercised or terminated earlier. 
 Exercisability Schedule: 
 [TIME BASED] Subject to the terms and conditions
described in the Agreement, the Options become exercisable in accordance with the schedule below: 
  

	 	(a)	25% of the Options become exercisable on the first anniversary of the Grant Date (the “Initial Vesting Date”), and 

 

	 	(b)	6.25% of the Options become exercisable on the date three months after the Initial Vesting Date and on such date every third month thereafter, through the fourth
anniversary of the Grant Date. 

 [EXECS ONLY - PERFORMANCE BASED] Subject to the terms and conditions described in the
Agreement, one hundred percent (100%) of the Options shall become exercisable on the later of (a) the 12 (tranche a), 21 (tranche b) or 30 (tranche c) month anniversary of the Grant Date, and (b) the last day of the first 20
consecutive trading day period after the Grant Date during which the average closing price of the Shares over such period is equal to or greater than $[        ] (tranche a),
$[        ] (tranche b) or $[        ] (tranche c). 

Acceleration Events: The extent to which you may purchase shares under the Options may be accelerated in the following circumstances: 

[CERTAIN EMPLOYEES] Fifty percent (50%) of the total shares not already vested as of the date of a Change in Control (as such term is defined
in the Plan) shall become immediately vested upon such Change in Control. 
 [EXECS ONLY - TIME/PERFORMANCE BASED] 

 

	 	•	 	 One hundred percent (100%) of the Options not already exercisable will become immediately exercisable upon the occurrence of both (a) a
Change in Control, (b) followed by the earliest to occur of (i) a termination of your Service without Cause by the Company or any successor thereto, (ii) a Diminution in Duties, or (iii) the 12 month anniversary of the occurrence
of the Change in Control so long as your Service with the Company is continuous from the Grant Date through such date. 

 The extent to which the Options are exercisable as of a particular date is rounded down to the nearest whole
share. However, exercisability is rounded up to 100% on the [fourth] anniversary of the Grant Date. 
  

			
	MARCHEX, INC.
		
	By:	 	  

	Date:	 	  

 I acknowledge that I have carefully read the attached Agreement and prospectus for the Plan and agree to be bound
by all of the provisions set forth in these documents. 
  

									
	Enclosures:	 	Incentive Stock Option Agreement	 		 	OPTIONEE
		 	Prospectus	 		 		 	
		 	Exercise Form	 		 	  

		 		 		 	Date:	 	  

  
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 Grant No.:          

INCENTIVE STOCK OPTION AGREEMENT 

UNDER THE 
 MARCHEX, INC. 2012 STOCK INCENTIVE PLAN 
 1. Terminology. Capitalized terms used in this Agreement are defined in the correlating Stock Option Notice, the Plan, and/or the Glossary at the end of the Agreement. 

2. Exercise of Options. 
 (a) Exercisability. The Options will become exercisable in accordance with the Exercisability Schedule set forth in the Stock Option Notice, so long as you are in the Service of the Company from
the Grant Date through the applicable exercisability dates. None of the Options will become exercisable after your Service with the Company ceases, unless the Stock Option Notice provides otherwise with respect to exercisability that arises as a
result of your cessation of Service. 
 (b) Right to Exercise. You may exercise the Options, to the extent exercisable,
at any time on or before 5:00 p.m. Eastern Time on the Expiration Date or the earlier termination of the Options, unless otherwise provided under applicable law. Notwithstanding the foregoing, if at any time the Administrator determines that the
delivery of Shares under the Plan or this Agreement is or may be unlawful under the laws of any applicable jurisdiction, or Federal, state or foreign securities laws, the right to exercise the Options or receive Shares pursuant to the Options shall
be suspended until the Administrator determines that such delivery is lawful. If at any time the Administrator determines that the delivery of Shares under the Plan or this Agreement is or may violate the rules of the national securities exchange on
which the shares are then listed for trade, the right to exercise the Options or receive Shares pursuant to the Options shall be suspended until the Administrator determines that such exercise or delivery would not violate such rules. Section 3
below describes certain limitations on exercise of the Options that apply in the event of your death, Total and Permanent Disability, or termination of Service. The Options may be exercised only in multiples of whole Shares and may not be exercised
at any one time as to fewer than one hundred Shares (or such lesser number of Shares as to which the Options are then exercisable). No fractional Shares will be issued under the Options. 

(c) Exercise Procedure. In order to exercise the Options, you must provide the following items to the Secretary of the Company or
his or her delegate before the expiration or termination of the Options: 
  

	 	(i)	notice, in such manner and form as the Administrator may require from time to time, specifying the number of Shares to be purchased under the Options;

  

	 	(ii)	full payment of the Exercise Price for the Shares or properly executed, irrevocable instructions, in such manner and form as the Administrator may require from time to
time, to effectuate a broker-assisted cashless exercise, each in accordance with Section 2(d) of this Agreement; and 

  

	 	(iii)	full payment of applicable withholding taxes pursuant to Section 7 of this Agreement. 

  
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 An exercise will not be effective until the Secretary of the Company or his or her delegate receives all of
the foregoing items, and such exercise otherwise is permitted under and complies with all applicable federal, state and foreign securities laws. Notwithstanding the foregoing, if the Administrator permits payment by means of delivering properly
executed, irrevocable instructions, in such manner and form as the Administrator may require from time to time, to effectuate a broker-assisted cashless exercise and such instructions provide for sale of Shares under a limit order rather than at the
market, the exercise will not be effective until the earlier of the date the Company receives delivery of cash or cash equivalents in full payment of the Exercise Price or the date the Company receives confirmation from the broker that the sale
instruction has been fulfilled, and the exercise will not be effective unless the earlier of such dates occurs on or before termination of the Options. 
 (d) Method of Payment. You may pay the Exercise Price by: 
  

	 	(i)	delivery of cash, certified or cashier’s check, money order or other cash equivalent acceptable to the Administrator in its discretion; 

 

	 	(ii)	a broker-assisted cashless exercise in accordance with Regulation T of the Board of Governors of the Federal Reserve System through a brokerage firm designated or
approved by the Administrator; 

  

	 	(iii)	subject to such limits as the Administrator may impose from time to time, tender (via actual delivery or attestation) to the Company of other shares of Common Stock of
the Company which have a Fair Market Value on the date of tender equal to the Exercise Price; 

  

	 	(iv)	at the discretion of the Administrator, your delivery of a personal recourse note bearing interest at a fair market interest rate in accordance with applicable
accounting practice for such note, or at 100% of the applicable Federal rate (“AFR”) as defined in Code section 1274(d) if the AFR is greater than a fair market interest rate; 

 

	 	(v)	any other method approved by the Administrator; or 

  

	 	(vi)	any combination of the foregoing. 

 (e) Issuance of Shares upon Exercise. The Company shall issue to you the Shares underlying the Options you exercise as soon as practicable after the exercise date, subject to the Company’s
receipt of the aggregate exercise price and the requisite withholding taxes, if any. Upon issuance of such Shares, the Company may deliver, subject to the provisions of Section 7 below, such Shares on your behalf electronically to the
Company’s designated stock plan administrator or such other broker-dealer as the Company may choose at its sole discretion, within reason, or may retain such Shares in uncertificated book-entry form. Any share certificates delivered will,
unless the Shares are registered or an exemption from registration is available under applicable federal and state law, bear a legend restricting transferability of such Shares. 

3. Termination of Service. 
 (a) Termination of Unexercisable Options. If your Service with the Company ceases for any reason, the Options that are then unexercisable, after giving effect to any exercise acceleration
provisions set forth on the Stock Option Notice, will terminate immediately upon such cessation. 
 (b) Exercise Period
Following Termination of Service. If your Service with the Company ceases for any reason other than discharge for Cause, the Options that are then exercisable, after giving effect to any exercise acceleration provisions set forth on the Stock
Option Notice, will terminate upon the earliest of: 
 (i) the expiration of 90 days following such cessation, if
your Service ceases on account of (1) your termination by the Company other than a discharge for Cause, or (2) your voluntary termination other than for Total and Permanent Disability or death; 

  
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 (ii) the expiration of 12 months following such cessation, if your Service
ceases on account of your Total and Permanent Disability or death; 
 (iii) the expiration of 12 months following
your death, if your death occurs during the periods described in clauses (i) or (ii) of this Section 3(b), as applicable; or 
 (iv) the Expiration Date. 
 In the event of your death, the exercisable Options may be exercised
by your executor, personal representative, or the person(s) to whom the Options are transferred by will or the laws of descent and distribution. In the event you experienced a Total and Permanent Disability prior to the end of the next vesting
period, you shall receive a pro rata portion of the additional vesting based upon the number of days of such vest period prior to the date of your Total and Permanent Disability. 

(c) Misconduct. The Options will terminate in their entirety, regardless of whether the Options are then exercisable, immediately
upon your discharge from Service for Cause, or upon your commission of any of the following acts during the exercise period following your termination of Service: (i) fraud on or misappropriation of any funds or property of the Company, or
(ii) your breach of any provision of any employment, non-disclosure, non-competition, non-solicitation, assignment of inventions, or other similar agreement executed by you for the benefit of the Company, as determined by the Administrator,
which determination will be conclusive. 
 (d) Changes in Status. If you cease to be a “common law employee” of
the Company but you continue to provide bona fide services to the Company following such cessation in a different capacity, including without limitation as a director, consultant or independent contractor, then a termination of Service shall not be
deemed to have occurred for purposes of this Section 3 upon such change in capacity. Notwithstanding the foregoing, the Options shall not be treated as incentive stock options within the meaning of Code section 422 with respect to any exercise
that occurs more than three months after such cessation of the common law employee relationship (except as otherwise permitted under Code section 421 or 422). In the event that your Service is with a business, trade or entity that, after the Grant
Date, ceases for any reason to be part or an Affiliate of the Company, your Service will be deemed to have terminated for purposes of this Section 3 upon such cessation if your Service does not continue uninterrupted immediately thereafter with
the Company or an Affiliate of the Company. 
 4. Leave of Absence. The absence from work with the Company or with an
Affiliate because of a temporary disability (any disability other than a Total and Permanent Disability), or due to a leave of absence for any purpose, shall not, during the period of any such absence, be deemed, by virtue of such absence alone, to
have terminated such employment, director status or consultancy with the Company or with an Affiliate, except as the Administrator may otherwise expressly provide. 
 5. Nontransferability of Options. These Options and before exercise, the underlying Shares, are nontransferable otherwise than by will or the laws of descent and distribution and during your
lifetime, the Options may be exercised only by you or, during the period you are 

  
 - 3 -

 
under a legal disability, by your guardian or legal representative. Except as provided above, the Options and, before exercise, the underlying Shares, may not be assigned, transferred, pledged,
hypothecated, subjected to any “put equivalent position,” “call equivalent position” (as each preceding term is defined by Rule 16(a)-1 under the Securities Exchange Act of 1934), or short position, or disposed of in any way
(whether by operation of law or otherwise) and shall not be subject to execution, attachment or similar process. 
 6.
Qualified Nature of the Options. 
 (a) General Status. The Options are intended to qualify as incentive stock
options within the meaning of Code section 422 (“Incentive Stock Options”), to the fullest extent permitted by Code section 422, and this Agreement shall be so construed. The Company, however, does not warrant any
particular tax consequences of the Options. Code section 422 provides limitations, not set forth in this Agreement, respecting the treatment of the Options as Incentive Stock Options. You should consult with your personal tax advisors in this
regard. 
 (b) Code Section 422(d) Limitation. Pursuant to Code section 422(d), the aggregate fair market value
(determined as of the Grant Date) of shares of Common Stock with respect to which all Incentive Stock Options first become exercisable by you in any calendar year under the Plan or any other plan of the Company (and its parent and subsidiary
corporations, within the meaning of Code section 424(e) and (f), as may exist from time to time) may not exceed $100,000 or such other amount as may be permitted from time to time under Code section 422. To the extent that such aggregate fair
market value exceeds $100,000 or other applicable amount in any calendar year, such stock options will be treated as nonstatutory stock options with respect to the amount of aggregate fair market value thereof that exceeds the Code
section 422(d) limit. For this purpose, the Incentive Stock Options will be taken into account in the order in which they were granted. In such case, the Company may designate the shares of Common Stock that are to be treated as stock acquired
pursuant to the exercise of Incentive Stock Options and the shares of Common Stock that are to be treated as stock acquired pursuant to nonstatutory stock options by issuing separate certificates for such shares and identifying the certificates as
such in the stock transfer records of the Company. 
 (c) Significant Stockholders. Notwithstanding anything in this
Agreement or the Stock Option Notice to the contrary, if you own, directly or indirectly through attribution, stock possessing more than 10% of the total combined voting power of all classes of stock of the Company or of any of its subsidiaries
(within the meaning of Code section 424(f)) on the Grant Date, then the Exercise Price is the greater of (a) the Exercise Price stated on the Stock Option Notice or (b) 110% of the Fair Market Value of the Common Stock on the Grant Date,
and the Expiration Date is the last business day prior to the fifth anniversary of the Grant Date. 
 (d) Disqualifying
Dispositions. If you make a disposition (as that term is defined in Code section 424(c)) of any Shares acquired pursuant to the Options within two years of the Grant Date or within one year after the Shares are transferred to you, you must
notify the Company of such disposition in writing within 30 days of the disposition. The Administrator may, in its discretion, take reasonable steps to ensure notification of such dispositions, including but not limited to requiring that Shares
acquired under the Options be held in an account with a Company-designated broker-dealer until they are sold. 
 7.
Withholding of Taxes. 
 (a) At the time the Options are exercised, in whole or in part, or at any time thereafter as
requested by the Company, you hereby authorize withholding from payroll or any other payment of any kind due to you and otherwise agree to make adequate provision for foreign, federal, state and local taxes required by law to be withheld, if any,
which arise in connection with the Options (including upon a disqualifying disposition within the meaning of Code section 421(b)). The Company may require you to make a cash payment to cover any withholding tax obligation as a condition of exercise
of the Options or issuance of share certificates representing Shares. 

  
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 (b) The Administrator may, in its sole discretion, permit you to satisfy, in whole or in
part, any withholding tax obligation which may arise in connection with the Options either by electing to have the Company withhold from the Shares to be issued upon exercise that number of Shares, or by electing to deliver to the Company
already-owned shares, in either case having a Fair Market Value not in excess of the amount necessary to satisfy the statutory minimum withholding amount due. 
 8. Adjustments. The Administrator may make various adjustments to your Options, including adjustments to the number and type of securities subject to the Options and the Exercise Price, in
accordance with the terms of the Plan. The effect of a Change in Control (as defined in the Plan) or similar transaction on your Options is described in Section 7 of the Plan. 

9. Non-Guarantee of Employment or Service Relationship. Nothing in the Plan or this Agreement will alter your at-will or other
employment status or other service relationship with the Company, nor be construed as a contract of employment or service relationship between you and the Company, or as a contractual right for you to continue in the employ of, or in a service
relationship with, the Company for any period of time, or as a limitation of the right of the Company to discharge you at any time with or without Cause or notice and whether or not such discharge results in the failure of any of the Options to
become exercisable or any other adverse effect on your interests under the Plan. 
 10. No Rights as a Stockholder. You
shall not have any of the rights of a stockholder with respect to the Shares until such Shares have been issued to you upon the due exercise of the Options. No adjustment will be made for dividends or distributions or other rights for which the
record date is prior to the date such Shares are issued. 
 11. The Company’s Rights. The existence of the Options
shall not affect in any way the right or power of the Company or its stockholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Company’s capital structure or its business, or any merger
or consolidation of the Company, or any issue of bonds, debentures, preferred or other stocks with preference ahead of or convertible into, or otherwise affecting the Common Stock or the rights thereof, or the dissolution or liquidation of the
Company, or any sale or transfer of all or any part of the Company’s assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise. 

12. Entire Agreement. This Agreement, together with the correlating Stock Option Notice and the Plan, plus any employment, service
or other agreement between you and the Company or an Affiliate applicable to the award, contain the entire understanding and agreement between you and the Company or an Affiliate with respect to the subject matter contained herein or therein and
supersede any prior agreements, understandings, restrictions, representations, or warranties among you and the Company or an Affiliate with respect to such subject matter other than those as set forth or provided for herein or therein. To the
extent contemplated herein or therein, the provisions of this Agreement, the correlating Stock Notice and the Plan shall survive any exercise of the Option and shall remain in full force and effect. 

13. Amendment. This Agreement may be amended from time to time by the Administrator in its discretion; provided,
however, that this Agreement may not be modified in a manner that would have a materially adverse effect on the Options or Shares as determined in the discretion of the Administrator, except as provided in the Plan or in a written document
signed by you and the Company. 
 14. Conformity with Plan. This Agreement is intended to conform in all respects with,
and is subject to all applicable provisions of, the Plan. Any conflict between the terms of this 

  
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Agreement and the Plan shall be resolved in accordance with the terms of the Plan. In the event of any ambiguity in this Agreement or any matters as to which this Agreement is silent, the Plan
shall govern. A copy of the Plan is available upon request to the Administrator and is available at http://intranet.marchex.com. 
 15. Section 409A. This Agreement and the Options granted hereunder are intended to be exempt from, or otherwise comply with, Section 409A of the Code. This Agreement and the Options shall
be administered, interpreted and construed in a manner consistent with this intent. Nothing in the Plan or this Agreement shall be construed as including any feature for the deferral of compensation other than the deferral of recognition of income
until the exercise of the Options. Should any provision of the Plan or this Agreement be found not to comply with, or otherwise be exempt from, the provisions of Section 409A of the Code, it may be modified and given effect, in the sole
discretion of the Administrator and without requiring your consent, in such manner as the Administrator determines to be necessary or appropriate to comply with, or to effectuate an exemption from, Section 409A of the Code. The foregoing,
however, shall not be construed as a guarantee or warranty by the Company of any particular tax effect to you. 
 16.
Electronic Delivery of Documents. By your signing the Notice, you (i) consent to the electronic delivery of this Agreement, all information with respect to the Plan and the Options, and any reports of the Company provided generally to
the Company’s stockholders; (ii) acknowledge that you may receive from the Company a paper copy of any documents delivered electronically at no cost to you by contacting the Company by telephone or in writing; (iii) further
acknowledge that you may revoke your consent to the electronic delivery of documents at any time by notifying the Company of such revoked consent by telephone, postal service or electronic mail; and (iv) further acknowledge that you understand
that you are not required to consent to electronic delivery of documents. 
 17. Attorney’s Fees. In the event that
any suit or action is instituted to enforce any provision in this Agreement, the prevailing party in such dispute shall be entitled to recover from the losing party all fees, costs and expenses of enforcing any right of such prevailing party under
or with respect to this Agreement, including without limitation, such reasonable fees and expenses of attorneys and accountants, which shall include, without limitation, all fees, costs and expenses of appeals. Except as otherwise permitted by
Section 409A of the Code, any reimbursement to which Optionee is entitled pursuant to this paragraph shall (a) be paid no later than the last day of Optionee’s taxable year following the taxable year in which the expense was incurred,
(b) not be affected by the amount of expenses eligible for reimbursement in any other taxable year, and (c) not be subject to liquidation or exchange for another benefit. 

18. Governing Law. The validity, construction, and effect of this Agreement, and of any determinations or decisions made by the
Administrator relating to this Agreement, and the rights of any and all persons having or claiming to have any interest under this Agreement, shall be determined exclusively in accordance with the laws of the State of Delaware, without regard to its
provisions concerning the applicability of laws of other jurisdictions. Any suit with respect hereto will be brought in the federal or state courts in the district which includes the city or town in which the Company’s principal executive
office is located, and you hereby agree and submit to the personal jurisdiction and venue thereof. 
 19. Headings. The
headings in this Agreement are for reference purposes only and shall not affect the meaning or interpretation of this Agreement. 

{Glossary begins on next page} 

  
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 GLOSSARY 

(a) “Administrator” means the Board or the committee(s) or officer(s) appointed by the Board that have authority
to administer the Plan. 
 (b) “Affiliate” means any entity, whether now or hereafter existing, which
controls, is controlled by, or is under common control with, Marchex, Inc. For this purpose, “control” means ownership of 50% or more of the total combined voting power or value of all classes of stock or interests of the entity.

 (c) [Definition for general “cause” - “Cause” has the meaning ascribed to
such term or words of similar import in your written employment or service contract with the Company as in effect at the time at issue and, in the absence of such agreement or definition, means your (i) conviction of, or plea of nolo contendere
to, a felony or crime involving moral turpitude; (ii) fraud on or misappropriation of any funds or property of the Company, any affiliate, customer or vendor; (iii) personal dishonesty, incompetence, willful misconduct, willful violation
of any law, rule or regulation (other than minor traffic violations or similar offenses) or breach of fiduciary duty which involves personal profit; (iv) willful misconduct in connection with your duties or willful failure to perform your
responsibilities in the best interests of the Company; (v) illegal use or distribution of drugs; (vi) violation of any Company rule, regulation, procedure or policy; or (vii) breach of any provision of any employment, non-disclosure,
non-competition, non-solicitation or other similar agreement executed by you for the benefit of the Company, all as determined by the Administrator, which determination will be conclusive.] [Definition for double trigger CIC] -
“Cause” means that the Company’s Board of Directors has reasonably determined in good faith that any one or more of the following has occurred: (i) you shall have been convicted of, or shall have pleaded guilty or nolo contendere
to, any felony; (ii) you shall have willfully failed or refused to carry out the reasonable and lawful instructions of the Board (other than as a result of illness or disability) concerning duties or actions consistent with your then current
position in a timely manner and otherwise in a manner reasonable acceptable to the Board and such failure or refusal shall have continued for a period of ten (10) days following written notice from the Board describing such failure or refusal
in reasonable detail; (iii) you shall have breached any material provision of your confidentiality and assignment of inventions agreement; or (iv) you shall have committed any material fraud, embezzlement, misappropriation of funds, breach
of fiduciary duty or other act of dishonesty against the Company.] 
 (d) “Code” means the Internal
Revenue Code of 1986, as amended. 
 (e) “Company” includes Marchex, Inc. and its Affiliates, except
where the context otherwise requires. For purposes of determining whether a Change in Control has occurred, Company shall mean only Marchex, Inc. 
 (f) “Diminution in Duties” means the occurrence of any of the following events without your express written consent: (i) a material diminution in the nature or scope of your
duties, responsibilities, authority, powers or functions as compared to your duties, responsibilities, authority, powers or functions immediately prior to the Change in Control; (ii) you cease being (a) an executive officer of a
publicly-traded company, or (b) a Section 16 reporting person under the Exchange Act; (iii) a material reduction in your annual base salary; or (iv) the relocation of the office at which you are to perform your duties and
responsibilities to a location more than sixty (60) miles from Seattle, Washington. 
 (g)
“Service” means your employment or other service relationship with the Company and its Affiliates. Your Service will be considered to have ceased with the Company and its Affiliates if, immediately after a sale, merger or
other corporate transaction, the trade, business or entity with which you are employed or otherwise have a service relationship is not the Company or its successor or an Affiliate of the Company or its successor. 

  
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 (h) “Shares” mean the shares of Common Stock underlying the Options.

 (i) “Stock Option Notice” means the written notice evidencing the award of the Options that
correlates with and makes up a part of this Agreement. 
 (j) “Total and Permanent Disability” means the
inability to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less
than twelve months. The Administrator may require such proof of Total and Permanent Disability as the Administrator in its sole discretion deems appropriate and the Administrator’s good faith determination as to whether you are totally and
permanently disabled will be final and binding on all parties concerned. 
 (k) “You”;
“Your”. “You” or “your” means the recipient of the award of Options as reflected on the Stock Option Notice. Whenever the Agreement refers to “you” under circumstances where the provision should
logically be construed, as determined by the Administrator, to apply to your estate, personal representative, or beneficiary to whom the Options may be transferred by will or by the laws of descent and distribution, the word “you” shall be
deemed to include such person. 

  
 - 8 -

 EXERCISE FORM 
 Administrator of 2012 Stock Incentive Plan 
 c/o Office of the Corporate Secretary 

Marchex, Inc. 
 Gentlemen: 

I hereby exercise the Options granted to me on             ,
    , by Marchex, Inc. (the “Company”), subject to all the terms and provisions of the applicable grant agreement and of the Marchex, Inc. 2012 Stock Incentive Plan (the “Plan”), and notify you of my desire to
purchase                  shares of Common Stock of the Company at a price of $         per share pursuant to the exercise of
said Options. 
 Total Amount Enclosed: $         

 

											
	Date:	 	  
	 		 	  

		 		 		 	(Optionee)	 	
					
		 		 		 	Received by MARCHEX, INC. on	 	
		 		 		 	                           
                                         
                           ,	 	          

					
		 		 		 	By:

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