EX-10.1
from 8-K
7 pages
Separation and General Release Agreement This Separation and General Release Agreement (The “Agreement”) Is Being Entered Into by and Between LOCAL Corporation (“Employer” or the “Company”) and Heath Clarke (“Employee”) (Collectively the “Parties”) as of the Date of Employee’s Execution of This Agreement (The “Date of This Agreement”). Whereas, the Parties Previously Entered Into That Certain Third Amended and Restated Employment Agreement (The “Employment Agreement”) Dated December 15, 2011; Whereas, the Parties Have Agreed to End the Employment Relationship and This Agreement Shall Serve as Employer’s Notice to Employee That Employer Is Terminating the Employment of Employee Without Cause Pursuant to Section 5.2(b) of the Employment Agreement; and Whereas, Employee Is Entitled to Receive Severance and Other Benefits Pursuant to Section 5.2(c) of the Employment Agreement, Provided Employee Signs This Agreement; Now, Therefore, in Consideration of the Foregoing Premises and the Terms and Conditions Set Forth Below, the Parties Agree as Follows
12/34/56