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Local Corporation Message Board

  • fankenkoenig fankenkoenig Oct 25, 2013 4:40 PM Flag

    Important Deals

    Form 8-K for LOCAL CORP

    Entry into a Material Definitive Agreement, Financial Statements and Exhibits

    Item 1.01 Entry into a Material Definitive Agreement.
    On October 3, 2013, the Registrant entered into Amendment Number Six (the "Google Amendment") to that certain Google Services Agreement with Google Inc. dated June 30, 2011, as amended by Amendment Number 1, dated December 1, 2011, Amendment Number 2, dated February 1, 2012, Amendment Number 3, dated May 1, 2012, Amendment Number 4, dated June 1, 2012, and Amendment Number 5, dated June 21, 2013 (the "Google Agreement"). The Google Amendment provides for an extension of the Google Agreement until September 30, 2015. Google maintains very strict standards with respect to the display of Google's pay-per-click advertising and the Registrant must continue to meet those standards pursuant to the terms of the Google Amendment and the Google Agreement in order to continue to display such Google pay-per-click advertisements. The effective date of the Google Amendment is October 1, 2013.

    The foregoing description of the Google Amendment is qualified in its entirety by reference to the full text of the Google Amendment which is filed as Exhibit 10.1 with portions omitted and filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment. Exhibit 10.1 is a redacted copy of the Google Amendment and is incorporated herein by reference.

    Item 9.01 Financial Statements and Exhibits.
    Exhibit 10.1(1) Amendment Number Six to Google Services Agreement dated October 3, 2013 by and between the Registrant and Google Inc.

    (1) Application has been made with the Securities and Exchange Commission to seek confidential treatment of certain provisions. Omitted material for which confidential treatment has been requested has been filed separately with the Securities and Exchange Commission.

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    • Regarding the Rovion Sale, we closed the Rovion transaction for about $4 million after acquiring it for about $2.7 million a little over a year ago. We executed two licensing agreements. The first is our license of the Rovion platform in our SMB suite and the second is the PointRoll license of our Krillion Local product data feed to Rovion.

      Source: Transcript of Conference Call of Q3/2012

    • Local Corp Shares On Sale With New Microsoft Partnership

      Sep 8 2013, 15:57 Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in LOCM over the next 72 hours. (More...)

      Shares of Local Corp (LOCM) got a boost on Thursday. Shares rallied 25% in the pre-market after announcing a new deal with Bing, the search engine from Microsoft (MSFT). Despite the hype, shares of the localized search engine company closed up only 19% and still remain below the $2 mark. Here's why you should consider buying shares of Local Corp now.

      The partnership with Microsoft connects Local Corp to millions of customers searching for products and services through Bing. Microsoft's search engine has seen growth recently against larger rival Google (GOOG). In July, Bing had a 17.9% market share of searches in the United States. This number is up 2% from the previous year. Bing has seen growth through growing demand for Windows 8 products and being the search of choice for Apple's (AAPL) Siri voice search technology. Google and Yahoo (YHOO) had market shares of 67% and 11.3%, respectively for the month of July.

      Local Corp will provide location-based local product search results for web searches through Bing. Local Corp's new deal will also integrate search results using the company's Krillion platform. Krillion offers unique searching, connecting customers and retailers with actual products in stock, using patented technology.

    • Form 8-K/A for LOCAL CORP

      Entry into a Material Definitive Agreement, Financial Statements and Exhibits

      Item 1.01 Entry into a Material Definitive Agreement.
      On November 1, 2012, Local Corporation (the "Registrant") entered into a Yahoo! Publisher Network Agreement with Yahoo! Inc. (the "Agreement"). The Agreement provides for the distribution of Yahoo! Inc.'s paid search results by Registrant for which the Registrant is compensated a certain percentage of the adjusted gross revenue (as defined in the Agreement) derived by Yahoo! from such paid search results. The effective date of the Agreement is November 1, 2012, and it ends on October 31, 2017, subject to the earlier termination by either party on the second, third and fourth anniversaries of the Agreement upon sixty (60) days advance written notice. The Agreement also allows Yahoo! to terminate the Agreement earlier in the event of a breach by the Registrant of certain of the provisions of the Agreement. The Agreement contains provisions regarding the implementation of the Yahoo! paid search results by the Registrant. The Agreement also contains certain indemnification obligations of the Registrant to Yahoo! in the event of a breach of the Agreement by Registrant.

      The Registrant attached a redacted version of the Agreement to its November 1, 2012, Current Report on Form 8-K pursuant to a Confidential Treatment Request letter that the Registrant submitted to the Securities and Exchange Commission ("SEC"). After filing the November 1, 2012, Current Report on Form 8-K, the Registrant's request for confidential treatment of certain portions of the Agreement was reviewed by the SEC. As a result, the Registrant has attached hereto, as Exhibit 10.1, the revised exhibit for the Agreement to this Current Report on Form 8-K/A.

      • 3 Replies to fankenkoenig
      • Love shorts when they are going to lose

      • flankenking Oct 26, 2013 10:01 AM Flag

        Form 8-K/A for LOCAL CORP
        January 16, 2013
        Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.

        Retention Bonus Program

        On January 16, 2013, the Compensation Committee of the Board of Directors of the Registrant adopted a corporate retention bonus program (the “Retention Program”). The material terms of the Retention Program are attached as Exhibit 10.2 to this Current Report on Form 8-K and are incorporated herein by reference.

        AS OF JANUARY 16, 2013

        The Local Corporation Retention Program (the “Retention Program”) provides for the payment of a retention bonus to all employees of Local Corporation (the “Company”) and its subsidiaries as of January 16, 2013, including the Company’s currently employed named executive officers (the “NEOs,” as named in the Company’s most recently filed Form 10-K). On January 16, 2013, the Compensation Committee of the Company’s Board of Directors (the “Board”) established the Retention Program to reward employees who continue in service to the Company through January 2, 2014. The Retention Program provides employees with a bonus equal to their threshold semi-annual bonus target as of January 16, 2013.

        The Company’s Named Executive Officers will be eligible to receive a bonus equal to the amounts set forth in the following table:

        Name and Title Retention Bonus Potential
        Heath B. Clarke, Chief Executive Officer $ 177,847
        Michael A. Sawtell, President and Chief Operating Officer $ 91,391
        Kenneth S. Cragun, Chief Financial Officer and Secretary $ 65,528
        Erick Herring, Sr. Vice President, Technology $ 58,427 (1)
        Peter S. Hutto, Sr. Vice President Corporate Development $ 50,000 (1)

        (1) Amounts to be paid via an equity grant under the Company’s 2011 Omnibus Incentive Plan, as amended.

      • January 16, 2013 7:34 Local Corporation (Nasdaq: LOCM) announced the launch of its new local search site in the U.K. The company also announced an expanded search advertising agreement with Yahoo!, Inc. that covers the U.S. and also now the U.K.

        Under the terms of the agreement, Yahoo! search results will appear across the new U.K. site.

        The new U.K. site allows consumers to find local businesses, products and services in the United Kingdom, and features the ability to filter their search via keywords, popular categories and more

0.0920.000(0.00%)Jul 2 3:59 PMEDT