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                                                                   EXHIBIT 10.21

                              EMPLOYMENT AGREEMENT
                           THE PRINCETON REVIEW, INC.

         This Employment Agreement is between Evan Schnittman ("Schnittman") and
The Princeton Review, Inc. ("TPR"), and is subject to the current terms of the
Executive Compensation Policy Statement, which is attached as Exhibit A (the
"Policy Statement"). Terms may be defined in The Princeton Review Glossary. This
Agreement supersedes any previous employment agreement.

1.   Job Description: Schnittman shall serve as EVP of the Review.com Division.

2.   Compensation TPR shall pay Schnittman $150,000 per year increasing at 3%
     per year. Further, TPR will give an annual bonus of at least 20% of base
     salary, based on performance.

3.   Stock Option Grant: In addition to Stock previously issued, TPR hereby
     grants Schnittman an option to purchase 42,000 shares of Series B Common
     Stock at a $6.25 strike price, vesting evenly each quarter over the next
     three years.

4.   Term: This Agreement has an initial two-year term, which will automatically
     be extended for additional two-year periods on each anniversary of the
     effective date until (i) Schnittman voluntarily terminates employment or
     (ii) TPR gives contrary written notice to Schnittman at least 6 months
     prior to the anniversary date.

5.   Severance Payments and Benefits: If TPR terminates Schnittman's employment
     without cause under Section 4.1 of the Policy Statement, then, in addition
     to the payments provided under Section 5.1, but in lieu of the payments
     provided under Section 5.3, TPR will pay Schnittman his annual base salary
     for nine months following termination. In addition, Schnittman will be
     entitled to reimbursement of COBRA payments to maintain medical and dental
     insurance for nine months.

Agreed to this April 18, 2000.

/s/ John Katzman                                     /s/ Evan Schnittman
---------------------------                          --------------------------
Mark Chernis                                          Evan Schnittman
Chief Operating Officer<PAGE>   1
                                                                   EXHIBIT 10.22

                              EMPLOYMENT AGREEMENT
                           THE PRINCETON REVIEW, INC.

         This Employment Agreement is between Linda Nessim-Rubin
("Nessim-Rubin") and The Princeton Review, Inc. ("TPR"), and is subject to the
current terms of the Executive Compensation Policy Statement, which is attached
as Exhibit A (the "Policy Statement"). Terms may be defined in The Princeton
Review Glossary. This Agreement supersedes any previous employment agreement.

1.   Job Description: Nessim-Rubin shall serve as the EVP of Communications and
     Human Resources.

2.   Compensation: TPR shall pay Nessim-Rubin $160,000 per year, increasing
     annually by 3%. She shall also receive a bonus of up to 25% of base salary.

3.   Stock Option Grant: In addition to Stock previously issued, TPR hereby
     grants Nessim-Rubin an option to purchase 48,000 shares of Series B Common
     Stock at a $6.25 strike price, vesting evenly each quarter over the next
     three years.

4.   Term: This Agreement has an initial two-year term, which will automatically
     be extended for additional two-year periods on each anniversary of the
     effective date until (i) Nessim-Rubin voluntarily terminates employment or
     (ii) TPR gives contrary written notice to Nessim-Rubin at least 6 months
     prior to the anniversary date.

5.   Disability: In Paragraph 4.2 of Exhibit A, the aggregating period shall be
     180 days.

6.   Severance Payments and Benefits: If TPR terminates Nessim-Rubin's
     employment without cause under Section 4.1 of the Policy Statement, then,
     in addition to the payments provided under Section 5.1, but in lieu of the
     payments provided under Section 5.3, TPR will pay Nessim-Rubin her annual
     base salary for an additional nine months following termination. In
     addition, Nessim-Rubin will be entitled to reimbursement of COBRA payments
     to maintain medical and dental insurance for a number of weeks equal to
     twice the number of years she was employed full-time by TPR.

7.   Spite: Remedies available to TPR under Section 2.4.2 shall not include
     repayment of stock option appreciation.

Agreed to this April 10, 2000.

/s/ Mark Chernis                                     /s/ Linda Nessim-Rubin
---------------------------                          --------------------------
Mark Chernis                                          Linda Nessim-Rubin
Chief Operating Officer<PAGE>   1
                                                                   EXHIBIT 10.23

                              EMPLOYMENT AGREEMENT
                           THE PRINCETON REVIEW, INC.

         This Employment Agreement is between Bruce Task ("Task") and The
Princeton Review, Inc. ("TPR"), and is subject to the current terms of the
Executive Compensation Policy Statement, which is attached as Exhibit A (the
"Policy Statement"). Terms may be defined in The Princeton Review Glossary. This
Agreement supersedes any previous employment agreement.

1.   Job Description: Task shall serve as the Executive VP of the Princeton
     Review Ventures division, and may work on specific projects as determined
     by the CEO. To the extent a project is within a TPR business unit, Task
     will set specific plans with the appropriate manager.

2.   Compensation: TPR shall pay Task $250,000 per year, increasing annually by
     3%. He shall also receive a performance-based bonus of between 7.5% and 60%
     of base salary.

3.   Commuting Expenses. TPR will pay Task $1250 per month for parking and other
     transportation expenses.

4.   Stock Option Grant: In addition to the Stock previously issued, TPR hereby
     grants Task an option to purchase 47,500 shares of Series B Common Stock at
     a $6.25 strike price, vesting evenly each quarter over the next four years.

5.   Term: This Agreement has an initial two-year term, which will automatically
     be extended for additional two-year periods on each anniversary of the
     effective date until (i) Task voluntarily terminates employment or (ii) TPR
     gives contrary written notice to Task at least 6 months prior to the
     anniversary date.

6.   Severance Payments and Benefits:

     a.   If TPR terminates Task's employment without cause under Section 4.1 of
          the Policy Statement or if TPR does not renew the Agreement under
          Section 3.1, or if this Agreement is terminated under 4.2 or 4.3,
          then, in addition to the payments provided under Section 5.1, but in
          lieu of the payments provided under Section 5.3, TPR will pay Task an
          amount equal to his annual base salary, payable biweekly over 12
          months. In addition, Task will be entitled to reimbursement of COBRA
          payments to maintain medical and dental insurance for a number of
          weeks equal to twice the number of years he was employed full-time by
          TPR.

     b.   If Task at any time voluntarily terminates employment, then in
          addition to the payments provided under Section 5.1, but in lieu of
          the payments provided under Section 5.3, TPR will pay Task his base
          salary for six months following such termination.
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7.   Spite: Remedies available to TPR under Section 2.4.2 shall not include
     repayment of stock option appreciation.

8.   Miscellaneous: TPR agrees that it shall not exercise the right to purchase
     Task's shares of TPR pursuant to its Stockholders Agreement, dated April 1,
     2000.

9.   Loan: At Task's request, after April 1st, 2001, unless TPR has gone public,
     TPR will lend to Task on a fully non-recourse basis up to an aggregate
     principal amount of $500,000. This loan shall accrue interest at the prime
     rate, have a term of 8 years, and require no payment of principal or
     interest for the first four years of the term. Thereafter, the loan shall
     be paid back over 4 years in equal annual installments. TPR may hold as
     collateral Task's TPR Stock valued (based upon TPR's Agreed Value) at up to
     250% of the outstanding loan principal.

Agreed to this April 10, 2000.

/s/ John Katzman                                     /s/ Bruce Task
---------------------------                          --------------------------
John Katzman                                          Bruce Task
Chief Executive Officer<PAGE>   1
                                                                   EXHIBIT 10.24

                              EMPLOYMENT AGREEMENT
                           THE PRINCETON REVIEW, INC.

         This Employment Agreement is between Steven Hodas ("Hodas") and The
Princeton Review, Inc. ("TPR"), and is subject to the current terms of the
Executive Compensation Policy Statement, which is attached as Exhibit A (the
"Policy Statement"). Terms may be defined in The Princeton Review Glossary. This
Agreement supersedes any previous employment agreement.

1.       Job Description: Hodas shall serve as the EVP of Strategic Development.
         He shall be responsible for evaluating new business opportunities, and
         working with division heads on issues surrounding online strategies.

2.       Compensation: TPR shall pay Hodas $155,000 per year increasing by
         $10,000 each February 15th. In addition, Hodas shall be eligible for an
         annual performance-based bonus of between 16% and 75% of his base
         salary. This bonus shall be capped at $25,000 for 2000.

3.       Stock Option Grant: In addition to Stock previously issued, TPR hereby
         grants Hodas an option to purchase 37,186 shares of Series B Common
         Stock at a $6.25 strike price, vesting evenly each quarter over the
         next two years.

4.       Loan: At Hodas' request, TPR will lend to Hodas on a fully non-recourse
         basis up to an aggregate principal amount of $250,000 for a real estate
         purchase. This loan shall accrue interest at the best-available
         mortgage rate, have a term of three years, and require no payment of
         principal or interest for the term, Thereafter, the loan shall be paid
         back in full. TPR may hold as collateral Hodas' TPR Stock valued (based
         upon TPR's Agreed Value) at up to 250% of the outstanding loan
         principal.

5.       Term: This Agreement will expire on February 15, 2001, and will
         automatically be extended for additional one-year periods on each
         anniversary thereof until (i) Hodas voluntarily terminates employment
         or (ii) TPR gives contrary written notice to Hodas at least 120 days
         prior to the anniversary date.

6.       Severance Payments and Benefits: If TPR terminates Hodas's employment
         without cause under Section 4.1 of the Policy Statement, then, in
         addition to the payments provided under Section 5.1 of the Policy
         Statement, but in lieu of the payments provided under Section 5.3, TPR
         will pay his annual base salary for an additional 12 months following
         termination. In addition, Hodas will be entitled to reimbursement of
         COBRA payments to maintain medical and dental insurance for 12 months.

7.       Disability: In Paragraph 4.2 of Exhibit A, the aggregating period shall
         be 120 days.
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Agreed to this April 10, 2000.

/s/ Mark Chernis                                     /s/ Steven Hodas
---------------------------                          --------------------------
Mark Chernis                                         Steven Hodas
Chief Operating Officer

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