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LOCM > SEC Filings for LOCM > Form 8-K on 22-Oct-2013All Recent SEC Filings

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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 16, 2013, the Registrant entered into that certain Local Network Master Services Agreement and related service order (the "Agreement") with Allview Networks, LLC ("Allview"), a Virginia limited liability company. The Agreement provides for the display by Allview of the Registrant's data feeds of advertising and algorithmic listings. The Agreement provides for the sharing of revenues earned from such activities between the Registrant and Allview based upon a formula more particularly described in the Agreement. The Agreement provides for exclusivity in certain marketing segments subject to the achievement of certain minimum performance criteria, as more particularly described in the Agreement. The Agreement has a term commencing October 16, 2013 and continuing for one year. The Agreement automatically renews for additional one year periods unless a notice of termination is provided at least 45 days before the end of the then-current term or an earlier termination is made as a result of a breach of the Agreement. The Agreement contains customary representations and warranties, indemnity obligations and confidentiality provisions. Mr. Norman K. Farra Jr., a member of the Registrant's board of directors is Chief Operating Officer and a minority shareholder of Allview. The execution of the Agreement was approved by the Registrant's independent director.

The foregoing description of the Agreement is qualified in its entirety by reference to the full text of the Agreement 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 Agreement and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

Exhibit 10.1(1) Local Network Master Services Agreement, dated October 16, 2013, by and between the Registrant and Allview Networks, LLC.

(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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