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July 28, 2005
Mr. Anthony Dolanski
4 Roselawn Lane
Malvern, PA 19355
Dear Tony:
The Board of Directors and I recognize you as a valuable
contributor to Internet Capital Group ("ICG"). We place a high
priority upon retaining your services to ICG and in rewarding you
for your commitment, dedication and hard work. I am, therefore,
very pleased to reaffirm the severance package that will be made
available to you should you be terminated other than for cause
prior to December 31, 2008. A summary of these severance benefits
is listed below.
-
SEVERANCE PAY - ICG will pay you at the date of termination
of employment a lump sum payment equal to 12 months of base salary
plus target bonus at the rate existing at termination of
employment.
-
ANNUAL BONUS - ICG will pay you at the same time, under the
same terms and conditions as other employees, a pro-rated bonus for
service through your termination date, based on your individual
performance and ICG's performance for that period as determined by
the Board of Directors.
-
EMPLOYEE BENEFITS - ICG will continue to provide you and
your family medical and dental insurance at the same percent of
premium payment existing at the time of termination until the
earlier of (A) 12 months after termination of employment; or (B)
your eligibility for any of these benefits under another employer's
or spouse's employer's plan.
-
OUTPLACEMENT - ICG will provide you career counseling until
the earlier of (A) 12 months after termination of employment; or
(B) your employment with a subsequent employer.
-
EQUITY - ICG Management will recommend to the Compensation
Committee of the Board of Directors that your equity grants be
subject to the better of the following: (A) credit for an
additional 12 months service (compared to your actual service with
ICG); or (B) application of the terms of the relevant equity grant
instrument. Such equity grants shall be exercisable after your
termination of employment to the earlier of 1) twenty-four
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