Termination of your employment by reason of redundancy

Exhibit 10.50

12 November 2004

Damian Smith

[address]

Re: Termination of your employment by reason of redundancy

Dear Damian:

I refer to your various discussions with Bill Lonergan and myself, and confirm that as a consequence of the sale and closure of the business of LookSmart International Pty Ltd. (“LookSmart”) that your position with LookSmart has become redundant. Accordingly your employment will terminate on 12 November 2004 (the “Termination Date”). This letter is to give you both formal notice of the termination of your employment, and to set out the payments and benefits LookSmart will provide to you on termination of your employment.

LookSmart has assessed what it considers to be a fair and reasonable termination package for you, taking into account a range of factors including, amongst other things, your length of service, your remuneration package, your job prospects and your age. LookSmart will provide the following payments and benefits to you, subject to all applicable taxes:

Exhibit A attached hereto summarises your termination entitlements and payment. LookSmart also requires that, after your Termination Date, you sign and return the Release attached hereto as Exhibit B , which acknowledges that you accept this package in full and final settlement of all and any claims of any nature, whether at common law or by statute, which you may have against LookSmart and/or any related entity, including any statutory long service entitlement to which you may be entitled under Australian law.

In return for signing this release, LookSmart will provide the “additional severance payment” detailed in Exhibit A and extend the option exercise period as

described above. This payment is subject to the terms set out in the Release and is inclusive of any statutory long service entitlement to which you may be entitled under Australian law.

You will receive the payments and benefits other than the additional severance payment regardless of whether or not you sign the Release, subject to you signing and returning to LookSmart the enclosed Return of Property Form, whereby you undertake that you have returned all property of LookSmart and/or any related entity company (for example: office keys, security card, mobile phone, cabcharge card and laptop).

Please also complete Section B of the attached ETP Pre-payment Statement – Payer advising whether we wish to receive cash or rollover your ETP payment to your nominated superannuation fund. Please note that you can only roll over the taxable component of your ETP into superannuation and not the tax free portion or any unused annual leave etc.

Within 7 days of the date of the termination of your employment, and the receipt by LookSmart of your signed Return of Property Form, LookSmart will transfer into your nominated bank account the payments outlined in paragraphs 1(a) and 1(b) above. Note that these payments can be made to your usual salary deposit account, or can be disbursed to different or multiple accounts or rolled over to your nominated superannuation fund. Should you agree to sign the Release, the “additional severance payment” as set out on Exhibit A will also be made within 7 days of your Termination Date.

I trust that, upon leaving the organisation, you will continue to observe your obligations of confidentiality which, as you are aware, survive termination of your employment.

Should you have any questions or need help of any sort, please do not hesitate to contact either myself or Bill Lonergan. We sincerely regret that we have had to take this action. I thank you for your contribution to LookSmart and wish you all the very best for the future.

Yours sincerely,

LOOKSMART INTERNATIONAL PTY LTD.

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Exhibit A