Exhibit 10.1
AMENDMENT NO. 2 TO THE EMPLOYMENT
AGREEMENT
BETWEEN DOUGLAS R. LEBDA AND
TREE.COM, INC.
March 26,
2009
This Amendment No. 2 to that certain Employment
Agreement, dated as of January 7, 2008 between Douglas R. Lebda
(“Employee”) and Tree.com, Inc. (as successor by
assignment to IAC/InterActiveCorp) (the “
Company” ), as subsequently amended by Amendment No.1
dated August 15, 2008 (“Amendment No. 1”)
(collectively, the “Agreement” ), is effective
as of February 17, 2009 unless otherwise indicated. All
capitalized terms used herein without definition shall have the
meanings given to them in the Agreement.
WHEREAS, subject to the terms and conditions set forth
herein, Employee and the Company wish to make certain amendments to
the Agreement.
NOW, THEREFORE,
for good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, the
parties hereby agree as follows:
A.
Base Pay Adjustment
: Effective April 3, 2009,
Section 3A(a) of the Agreement is hereby deleted and replaced in
its entirety with the following:
3A.
COMPENSATION .
(a)
BASE SALARY . During the Term, the Company shall pay
Employee an annual base salary of $550,000 (the “Base Salary” ), payable in equal biweekly
installments or in such other installments as may be in accordance
with the Company’s payroll practice as in effect from time to
time. The Base Salary shall be reviewed by the Company, if
requested by Employee in writing, no less frequently than annually
in a manner consistent with similarly situated executives of the
Company and may be increased but not decreased. For all
purposes under this Agreement, the term “Base Salary”
shall refer to the Base Salary as in effect from time to
time.
B.
Relocation
: Section
3A(d)(iii) of the Agreement is hereby deleted and replaced in its
entirety with the following:
Payment of and/or Reimbursement
for Certain Relocation Expenses . The Company shall pay on
Employee’s behalf (or reimburse Employee for) actual,
reasonable and documented expenses rela
