SEC Contract Filing

Filing Date: 2018-03-30

Document Content:
<DOCUMENT>
<TYPE>EX-10.11.2
<SEQUENCE>5
<FILENAME>a201710-kexx10112.htm
<DESCRIPTION>EXHIBIT 10.11.2
<TEXT>
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<div><a name="sFEAF540BA4B4847847940C376CCFEAF3"></a></div><div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit 10.11.2</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">AMENDMENT TO AMENDED AND RESTATED EMPLOYMENT AGREEMENT</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">This AMENDMENT TO AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Amendment</font><font style="font-family:inherit;font-size:11pt;">&#8221;), is made and effective as of December 6, 2017, by and between Intersections Inc. (the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Corporation</font><font style="font-family:inherit;font-size:11pt;">&#8221;) and Michael R. Stanfield (&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Executive</font><font style="font-family:inherit;font-size:11pt;">&#8221;).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">WHEREAS, the Corporation and the Executive entered into that certain Amended and Restated Employment Agreement, made as of January 10, 2017 (the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Employment Agreement</font><font style="font-family:inherit;font-size:11pt;">&#8221;);</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">WHEREAS, pursuant to Section 4.a of the Employment Agreement, Executive is entitled to an annual salary (the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Base Salary</font><font style="font-family:inherit;font-size:11pt;">&#8221;) of $855,000; and </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">WHEREAS, the Corporation desires to pay a portion of the Base Salary for 2018 in the form of an option to purchase common stock of the Corporation; </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">NOW, THEREFORE, in consideration of good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;text-indent:48px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:11pt;color:#010000;padding-right:48px;">1.</font><font style="font-family:inherit;font-size:11pt;">Solely for 2018, $200,000 of the Base Salary shall be paid in the form of an option (the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Option</font><font style="font-family:inherit;font-size:11pt;">&#8221;) to purchase 238,095 shares of the Corporation&#8217;s common stock under the Corporation&#8217;s 2014 Stock Incentive Plan. The Option was granted on December 6, 2017 with an exercise price of $2.10 per share, and subject to such other terms and conditions as are set forth in the stock option grant agreement attached hereto as Attachment A. The remainder of the 2018 Base Salary shall be paid in cash.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;text-indent:48px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:11pt;color:#010000;padding-right:48px;">2.</font><font style="font-family:inherit;font-size:11pt;">Notwithstanding the foregoing, Executive&#8217;s Base Salary for all purposes under the Employment Agreement is $855,000.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;text-indent:48px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:11pt;color:#010000;padding-right:48px;">3.</font><font style="font-family:inherit;font-size:11pt;">Except as modified hereby, the Employment Agreement shall remain in full force and effect in accordance with all of the terms and conditions thereof. From and after the date of this Amendment, all references to the term &#8220;Agreement&#8221; in this Amendment or the original Agreement shall include the terms contained in this Amendment.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;text-indent:48px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:11pt;color:#010000;padding-right:48px;">4.</font><font style="font-family:inherit;font-size:11pt;">The Agreement, as amended by this Amendment, constitutes the entire understanding and agreement between the parties hereto with respect to the subject matter hereof and supersedes any and all prior or contemporaneous discussions, agreements and understandings, whether oral or written