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Local Insight Media, LLC ("LIM") Summary Employment Term Sheet

Employment Agreement

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This Employment Agreement involves

LOCAL INSIGHT REGATTA HOLDINGS, INC.

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Title: Local Insight Media, LLC ("LIM") Summary Employment Term Sheet
Date: 3/31/2009

Local Insight Media, LLC (
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Exhibit 10.28

Local Insight Media, LLC (“LIM”)

Summary Employment Term Sheet

 

Employee Name:

  

James Stirbis (“Employee”).

Position/Title:

  

Vice President and Chief Accounting Officer, reporting to LIM’s Chief Financial Officer.

Start Date:

  

On or before February 5, 2007.

Term:

  

Employment is not subject to any contract and is, therefore, considered to be “at will.”

Annual Base Salary:

  

$175,000.

Annual Bonus:

  

Employee’s target bonus will be 60% of his annual base salary. The bonus will be paid at the direction of the Board of Directors upon its determination, in its sole discretion, of the extent to which LIM’s calendar year operating targets have been met. LIM’s operating targets will be determined in the sole discretion of the Board of Directors. It is anticipated that the bonus will be paid within 120 days following calendar year end.

Equity Grant:

  

Employee will be eligible to participate in the LIM equity compensation plan, as and when adopted, at a level commensurate with Employee’s title. The specific terms of Employee’s participation in the LIM equity participation plan will be determined in the sole discretion of the Board of Directors.

Employee Benefits:

  

Employee will be entitled to participate in all employee benefit plans and programs applicable to Vice Presidents of LIM, as and when adopted. Such plans and programs shall include health insurance, dental insurance, disability insurance, life insurance and a Defined Contribution (401(k)) Plan, all subject to such contributions by Employee as the Board of Directors may from time to time determine in its sole discretion.

Confidentiality and

  

Non-Competition:

  

Upon the commencement of his employment, Employee will sign an Agreement that establishes his non-disclosure, non-competition and non-solicitation obligations with respect to LIM and its subsidiaries (the &l


 
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