Exhibit 10.79
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C
ERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT , MARKED BY BRACKETS , HAS BEEN OMITTED AND FILED SEPARATELY WITH THE S ECURITIES AND E XCHANGE C OMMISSION PURSUANT TO R ULE 24 B -2 OF THE S ECURITIES E XCHANGE A CT OF 1934, AS AMENDED .
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SEVENTH ADDENDUM
TO
ADCENTER LICENSE, HOSTING AND
SUPPORT AGREEMENT
This Seventh Addendum is entered
into by and between IAC Search & Media, Inc., a Delaware
corporation (“Partner”) and LookSmart, Ltd., a Delaware
corporation (“LookSmart”) and is the seventh addendum
to that certain AdCenter License, Hosting and Support Agreement by
and between Partner and LookSmart entered into as of May 16th,
2005, as amended by the parties in six prior addenda (collectively,
the “Agreement”). This Seventh Addendum is effective as
of October 1, 2010 (the “Addendum Effective
Date”).
WHEREAS , the parties entered into the Agreement on
May 16, 2005;
WHEREAS , the parties amended the Agreement in six
addenda dated January 2006, June 2006, January
2007, June 2007, March 2008, and December 2009;
and
WHEREAS , the parties now wish to amend the Agreement
to, among other things, extend the Term and modify the Subscription
Payment under the Agreement.
NOW THEREFORE
, for good and adequate
consideration, the receipt of which is acknowledged, the parties
agree as follows:
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1.
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All capitalized
terms used herein and not otherwise defined herein shall have the
respective meanings assigned thereto in the Agreement.
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2.
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Paragraphs 3(a)
and 3(h) are hereby deleted in their entirety and replaced with the
following:
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“ Subscription Payment
. Partner shall pay to LookSmart the following Subscription Payment
in each calendar month during the Term and Extended Term. For the
avoidance of doubt, the payments described in this section shall be
due and payable (at the time specified in Section 3(d) below)
beginning on October 1, 2010.
