Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On June 3, 2009, Jonathan Ewert, former Senior Vice President, Corporate Development, and LookSmart, Ltd. (the "Company") entered into a Severance Agreement and General Release (the "Release Agreement"). The Release Agreement sets forth the terms and provisions of Mr. Ewert's separation from the Company on June 1, 2009 as well as certain severance payments by the Company to Mr. Ewert following such separation. Pursuant to the Release Agreement among other terms and conditions, Mr. Ewert executed a release with respect to any claims or causes of action relating to Mr. Ewert's employment by the Company or his separation from the Company. Further, Mr. Ewert and the Company agreed that the Company would make a severance payment to Mr. Ewert in the amount of $163,350.00 (less required withholdings and authorized deductions) representing six months of Mr. Ewert's base salary puls 50% of Mr. Ewert's annual target bonus. In addition, the Company agreed to pay Mr. Ewert's monthly health insurance premiums for his COBRA coverage as they become due covering the period from June 2009 until the earlier of the date Mr. Ewert accepts other employment or December 31, 2009. The Release Agreement also contains other terms and provisions that are customary in agreements of similar nature.