Document:

Prepared by MERRILL CORPORATION

QuickLinks
 -- Click here to rapidly navigate through this document

Exhibit 10.8  

 
  EMPLOYMENT AGREEMENT    
  

    AGREEMENT, dated as of February 1, 1998 between Ticketmaster Ticketing Co., Inc., a Delaware corporation (the "Company"), and Timothy Wood
("Executive"). 

 
 

W I T N E S S E T H:    
  

    WHEREAS, prior to the date hereof, Executive has been employed by the Company and/or certain of its subsidiaries or affiliates in various management positions;
and 

    WHEREAS,
the Company is desirous of continuing to employ Executive, and Executive is desirous of continuing to be employed by the Company, on the terms and subject to the conditions
set forth in this Agreement; 

    NOW,
THEREFORE, in consideration of the premises, the mutual covenants and agreements contained herein and other good and valuable consideration, the receipt and sufficiency of which
are hereby mutually acknowledged, the parties hereto agree as follows: 

    1.  Definitions. The following terms shall have the indicated meanings when used in this Agreement, unless the context
requires otherwise: 

    (a)  "Base Salary Amount"  shall mean $225,000 during the first Contract Year, $235,000 during the second
Contract Year, $245,000 during the third Contract Year and $255,000 during the fourth Contract Year. 

    (b)  "Board of Directors"  shall mean the Board of Directors of the Company. 

    (c)  "Cause"  shall have the meaning ascribed to that term in Section 7. 

    (d)  "Consulting Period"  shall have the meaning ascribed to that term in Section 9(a). 

    (e)  "Contract Year"  shall mean each year during the term hereof commencing February 1 and ending
on the immediately following January 31. 

    (f)  "Customer"  shall have the meaning ascribed to that term in Section 9(d). 

    (g)  "Disability",  shall have the meaning ascribed to that term in Section 6(a). 

    (h)  "Disability Period"  shall have the meaning ascribed to that term in Section 6(a). 

    (i)  "Proprietary Information of the Company"  shall have the meaning ascribed to that term in
Section 10(a). 

    (j)  "Ticketmaster Businesses"  shall have the meaning ascribed to that term in Section 9(b). 

    2.  Employment.  The Company hereby employs Executive, and Executive hereby accepts employment with the
Company, on the terms and subject to the conditions set forth herein. 

    3.  Term of Employment.  The term of employment hereunder shall commence on the date hereof and end on
January 3, 2002, subject to early termination as herein provided. 

    4.  Position and Duties.  Executive shall serve as the Executive Vice President of the Company. Subject
to the authority of the Board of Directors and the Chief Executive Officer of the Company, the Executive shall have all of the powers and duties incident to the office of the Executive Vice President
and such other powers and duties as may from time to time be prescribed by the Board of Directors or the Chief
Executive Officer of the Company. Executive agrees to serve without further compensation, if elected or appointed thereto, as an officer or a director of any of the Company's domestic and foreign
subsidiaries and affiliates. 

    5.  Exclusive Duties.  During Executive's employment by the Company, Executive shall devote his entire
working time, attention and energies to the business of the Company and will not take any actions of the kind described in Sections 9(b), 9(c) and 9(d). 

 

    6.  Compensation and Other Benefits.  

    (a)  Base Salary.  During each Contract Year of the term hereof, the Company shall pay to Executive the
Base Salary Amount. The Base Salary Amount shall be paid to Executive in accordance with the Company's regular payroll practices with respect to senior management compensation. 

    In
the event that Executive shall become disabled as a result of bodily injury or physical or mental illness (whether or not occupational) to such extent that in the sole opinion of
the Board of Directors, based upon competent medical advice, he can no longer perform the duties of the Executive Vice President of the Company (a "Disability"), the Company shall only be obligated to
continue to pay the Base Salary Amount to Executive for the 120-day period immediately following the date of Disability (the "Disability Period"). The right to receive salary payments
during the Disability Period, if applicable, shall survive any termination of employment by virtue of Disability pursuant to Section 7. 

    (b)  Annual Performance Bonuses.  During each Contract Year, the Company shall pay Executive an annual
performance bonus as determined by the Board of Directors or its Compensation Committee in its sole discretion, the determination of which shall be based upon such standards, guidelines and factual
circumstances as the Board of Directors or its Compensation Committee deems relevant, including, without limitation, the operating results for the Company during such Contract Year, the importance of
the efforts of Executive in achieving such operating results and the achievement by the Company and/or Executive of performance goals previously established by the Board of Directors or its
Compensation Committee for such Contract Year; provided, however, that in no event shall the bonus for any full Contract Year of the term hereof be less than $30,000 for the first Contract Year,
$30,000 for the second Contract Year, $35,000 for the third Contract Year and $35,000 for the fourth Contract Year. 

    (c)  Expenses.  Executive shall be entitled to receive prompt reimbursement from the Company for all
documented business expenses incurred by him in the performance of his duties hereunder, provided that Executive properly accounts therefor in accordance with the Company's reimbursement policy,
including, without limitation, the submission of supporting evidence as reasonably requested by the Company. 

    (d)  Fringe Benefits.  During the term thereof, Executive shall be entitled (i) to participate in
and receive benefits substantially similar to what Executive is currently receiving from the Company so long as such benefits are provided by the Company to similar level management employees,
(ii) to continue to receive his existing automobile allowance so long as he continues to use the automobile being used by him as of the date of this Agreement, and (iii) at such time as
Executive ceases to use the automobile being used by him as of the date of this Agreement, to use a company automobile selected by the Company, or at the Company's sole discretion, to receive a
monthly automobile allowance sufficient to cover the lease payments on a 1998 Lexus GS 400. 

    (e)  Vacations.  During the term hereof, Executive shall be entitled to sick leave and paid holidays
consistent with the Company's sick leave and holiday policy for senior management and up to three weeks paid vacation during each Contract Year (or such other vacation time as is consistent with the
Company's policy for senior management). 

    7.  Termination.  The Company or Executive may terminate the employment of Executive hereunder upon the
occurrence of a Disability (as defined in Section 6(a)) for a period of no less than 120 days during any consecutive twelve-month period. The Company may also terminate the employment of
Executive hereunder upon Executive's death or for Cause. For purposes hereof, "Cause" shall mean (i) fraud, theft, misappropriation of funds or conviction of a felony, (ii) Executive's
engagement is illegal conduct tending to place Executive or the Company in disrepute, (iii) dereliction 

2

 

or gross misconduct in Executive's performance of his duties as an employee of the Company or the failure of Executive to perform his duties in a manner consistent with the instructions of the Board
of Directors or the Chief Executive Officer of the Company or (iv) violation by Executive of any of his material covenants contained in this Agreement, including, without limitation,
Section 10. 

    8.  Developmental Rights.  Executive agrees that any developments by way of invention, design, copyright,
trademark or other matters which may be developed or perfected by him during the term hereof, and which relate to the business of the Company or its subsidiaries or affiliates, shall be the property
of the Company without any interest therein by Executive, and he will, at the request and expense of the Company, apply for and prosecute letters patent thereon in the United States or in foreign
countries if the Company so requests, and will assign and transfer the same to the Company together with any letters patent, copyrights, trademarks and applications therefor; pr6vided, however, that
the foregoing shall not apply to an invention that Executive develops entirely on his own time without using the Company's equipment, supplies, facilities or trade secret information, except for those
inventions that either: 

    (a) relate
at the time of conception or reduction to practice of the invention to the Company's business, or actual or demonstrably anticipated research or development
of the Company; or 

    (b) result
from any work performed by Executive for the Company. 

    9.  Consulting.  

    (a)  Consulting Services.  During the six-month period commencing immediately upon the
termination of Executive's employment for any reason (other than Executive's death) (the "Consulting Period"), Executive shall be available, as an independent consultant, for consultation with the
Company and its subsidiaries and affiliates concerning their general operations and the industries in which they engage in business. In addition, during the Consulting Period, consultant will aid,
assist and consult with the Company and its subsidiaries and affiliates with respect to their dealings with clients and the enhancement of their recognition and reputation. During the Consulting
Period, Executive shall devote such time and energies to the affairs of the Company as may be reasonably required to carry out his duties hereunder without jeopardizing Executive's then
full-time, non-Ticketmaster Business employment opportunities; provided, however, that Executive shall not be obligated to devote more than 50 hours to the performance
of such duties. In consideration of Executive's consulting services, and in consideration of Executive's covenants contained in this Section 9, the Company shall pay to Executive $25,000 during
the Consulting Period, payable in equal monthly installments. The Company further agrees to reimburse Executive for all reasonable and necessary business expenses incurred by Executive in the
performance of his consulting services in accordance with the Company's reimbursement policy, including, without limitation, the submission of supporting evidence as reasonably required by the
Company. 

    (b)  Covenant Not to Compete.  During the Consulting Period, Executive shall not, without the prior
written consent of the Company, directly or indirectly engage in or assist any activity which is the same as, similar to or competitive with the Ticketmaster Businesses (other than on behalf of the
Company or any of its subsidiaries or affiliates) including, without limitation, whether such engagement or assistance is as an officer, director, proprietor, employee, partner, investor (other than
as a holder of less than 5% of the outstanding capital stock of a publicly traded corporation), guarantor, consultant, advisor, agent, sales representative or other participant, anywhere in the world
that the Company or any of its subsidiaries or affiliates has been engaged, including, without limitation, the United States, Canada, Mexico, Argentina, Chile, England, Ireland, Scotland, Europe and
Australia. Nothing herein shall limit Executive's ability to own interests in or manage entities which sell tickets as an incidental part of their primary businesses (e.g. cable networks,
on-line computer services, sport teams, arenas, hotels, cruise lines, theatrical 

3

 

and movie productions and the like) and which do not hold themselves out generally as competitors of the Company and its subsidiaries and affiliates. The "Ticketmaster Businesses" shall mean the
computerized sale of tickets for sporting, theatrical, cinematic, live theatrical, musical or any other events on behalf of various venues and promoters through distribution channels currently being
utilized by the Company or any of its subsidiaries or affiliates (as such term is defined in Rule 405 of Regulation C promulgated under the Securities Act of 1933, as amended). 

    (c)  Solicitation of Employees.  During the Consulting Period, Executive shall not (i) directly or
indirectly induce or attempt to induce (regardless of who initiates the contact) any person then employed (whether part-time or full-time) by the Company or any of its
subsidiaries or affiliates, whether as an officer, employee, consultant, adviser or independent contractor, to leave the employ of the Company or to cease providing or otherwise alter the services
then provided to the Company or to any of its subsidiaries or affiliates or (ii) in any other manner seek to engage or employ any such person (whether or not for compensation) as an officer,
employee, consultant, adviser or independent contractor in connection with the operation of any business which is the same as or similar to any of the Ticketmaster Businesses. 

    (d)  Non-Solicitation of Customers.  During the Consulting Period, Executive shall not
solicit any Customers of the Company or any of its subsidiaries or affiliates or encourage (regardless of who initiates the contact) any such Customers to use the facilities or services of any
Competitor of the Company or any of its subsidiaries or affiliates. "Customer" shall mean any person who engages the Company or any of its subsidiaries or affiliates to sell, on its behalf as agent,
tickets to the public. 

    10.  Confidentiality.  Executive shall not at any time during or after termination of employment disclose
(except as may be required by law) or use, except in the pursuit of the business of the Company or any of its subsidiaries or affiliates, any Proprietary Information of the Company. "Proprietary
Information of the Company" means all information known or intended to be known only to employees of the Company or any of its subsidiaries or affiliates in a confidential relationship with the
Company or any of its subsidiaries or affiliates relating to technical matters pertaining to the Ticketmaster Businesses, but shall not include any information within the public domain. Executive
agrees not to remove any documents, records or other information from the premises of the Company or any of its subsidiaries or affiliates containing any such Proprietary Information, except in the
pursuit of the business of the Company or any of its subsidiaries or affiliates, and acknowledges that such documents, records and other information are the exclusive property of the Company or its
subsidiaries or affiliates. Upon termination of Executive's employment, Executive shall immediately return all Proprietary Information of the Company and all copies thereof to the Company. 

    11.  General Provisions.  

    (a)  Expenses.  All costs and expenses incurred by either of the parties in connection with this
Agreement and any transactions contemplated hereby shall be paid by that party. 

    (b)  Notices.  All notices, demands and other communications hereunder shall be in writing and shall be
given or made (and shall be deemed to have been duly given or made upon receipt) by delivery in person, by overnight courier service, by cable, by telecopy, by telegram, by telex or 

4

 

by registered or certified mail to the respective parties at the following addresses (or at such other address for a party as shall be specified in a notice given in accordance with this Section
II(b)): 

    (i)  If
to the Company: 

Ticketmaster
Ticketing Co., Inc.

8800 Sunset Boulevard

West Hollywood, California 90069

Attention: Chairman of the Board 

Telecopy No.: (310) 360-6505 

With
a copy to: 

Neal,
Gerber & Eisenberg

Two North LaSalle Street 

Chicago, Illinois 60602 

Attention: Charles Evans Gerber 

Telecopy No.: (312) 269-1747 

    (ii) If
to Executive: 

236
South Orange Drive

Los Angeles, California 90036

Attention: Timothy Wood 

    (c)  Headings.  The descriptive headings contained in this Agreement are for convenience of reference
only and shall not affect in any way the meaning or interpretation of this Agreement. 

    (d)  Successors; Binding Agreement.  This Agreement shall be binding upon and inure to the benefit of the
parties hereto and their respective heirs, devisees, legatees, executors, administrators, successors and personal or legal representatives. If Executive is domiciled in a community property state or a
state that has adopted the Uniform Marital Property Act or equivalent or if Executive is domiciled in a state that grants to his spouse any other marital rights in Executive's assets (including,
without limitation, dower rights or a right to elect against Executive's will or to claim a forced share of Executive's estate), this Agreement shall also inure to the benefit of, and shall also be
binding upon, his spouse. If Executive should die while any amounts would still be payable to his hereunder if he had continued to live, all such amounts, unless otherwise provided herein, shall be
paid in accordance with the terms of this Agreement to Executive's designee or, if there be no such designee, to Executive's heirs, devisees, legatees or executors or administrators of Executive's
estate, as appropriate. 

    (e)  Severability.  If any provision of this Agreement is held to be illegal, invalid or unenforceable
under existing or future laws effective during the term of this Agreement, such provisions shall be fully severable, the Agreement shall be construed and enforced as if such illegal, invalid or
unenforceable provision had never comprised a part of this Agreement, and the remaining provisions of this Agreement shall remain in full force and effect and shall not be affected by the illegal,
invalid or unenforceable provision or by its severance from this Agreement. Furthermore, in lieu of such illegal, invalid or unenforceable provision, there shall be added automatically as part of this
Agreement a provision as similar in terms to such illegal, invalid or unenforceable provision as may be possible and be legal, valid and enforceable. 

    (f)  Entire Agreement.  This Agreement constitutes the entire agreement of the parties hereto with
respect to the subject matter hereof and supersedes all prior agreements and understandings, both written and oral, between the Company and Executive with respect to the subject matter hereof. 

5

 

    (g)  Assignment.  This Agreement and the rights and duties hereunder are not assignable by Executive.
This Agreement and the rights and duties hereunder may not be assigned by the Company without the express written consent of Executive (which consent may be granted or withheld in the sole discretion
of Executive), except that such consent shall not be required in order for the Company to assign this Agreement or the rights or duties hereunder to an affiliate (as such term is defined in
Section 9(b)) of the Company or to a third party in connection with the merger or consolidation of the Company with, or the sale of all or substantially all of the assets or business of the
Company to, that third party. 

    (h)  Amendment; Waiver.  This Agreement may not be amended or modified except by an instrument in writing
signed by, or on behalf of, the Company and Executive. Either party to this Agreement may (a) extend the time for the performance of any of the obligations or other acts of the other party or
(b) waive compliance with any of the agreements or conditions of the other party contained herein. Any such extension or waiver shall be valid only if set forth in an instrument in writing
signed by the party to be bound thereby. Any waiver of any term or condition shall not be construed as a waiver of any
subsequent breach or a subsequent waiver of the same term or condition, or a waiver of any other term or condition, of this Agreement. The failure of any party to assert any of its rights hereunder
shall not constitute a waiver of any such rights. 

    (i)  Governing Law.  This Agreement shall be governed by, and construed in accordance with, the laws of
the State of Delaware, applicable to contracts executed in and to be performed entirely within that state. 

    (j)  Jurisdiction and Venue.  The parties hereto agree that all actions or proceedings initiated by
either party hereto and arising directly or indirectly out of this Agreement which are brought pursuant to judicial proceedings shall be litigated in a Federal or state court located in the State of
Delaware. The parties hereto expressly submit and consent in advance to such jurisdiction and agree that service of summons and complaint or other process or papers may be made by registered or
certified mail addressed to the relevant party at the address to which notices are to be sent pursuant to Section II(b) of this Agreement. The parties hereto waive any claim that a Federal or state
court located in the State of Delaware is an inconvenient forum or an improper forum based on lack of venue. 

    (k)  Equitable Relief.  Executive acknowledges that the covenants contained in Sections 9 and 10 are
reasonable and necessary to protect the legitimate interests of the Company, that in the absence of such covenants the Company would not have entered into this Agreement, that any breach or threatened
breach of such covenants will result in irreparable injury to the Company and that the remedy at law for such breach or threatened breach would be inadequate. Accordingly, the Executive agrees that
the Company, in addition to any other rights or remedies which it may have, shall be entitled to seek such equitable and injunctive relief as may be available from any court of competent jurisdiction
to restrain the Executive from any breach or threatened breach of such covenants. 

    (l)  Attorneys' Fees.  If any legal action or other proceeding is brought for the enforcement of this
Agreement, the prevailing party shall be entitled to recover reasonable attorneys' fees and other costs incurred in that action or proceeding, in addition to any other relief to which it may be
entitled. 

    (m)  Counterparts.  This Agreement may be executed in one or more counterparts, and by the parties hereto
in separate counterparts, each of which when executed shall be deemed to be an original while all of which taken together shall constitute one and the same instrument. 

6

 

    IN
WITNESS WHEREOF, the Company and Executive have executed this Agreement as of the date and year first written above. 

	 	 	TICKETMASTER TICKETING CO., INC.
	

 	
 	

 	
 	

 
	 	 	By:	 	TIMOTHY J. WOOD

	 	 	Title:	 	EXEC VP/DIR OF EUROPEAN DEVEL.

	

 	
 	

 	
 	

 
	 	 	/s/ TIMOTHY J. WOOD   
 Timothy J. Wood

7

QuickLinks

EMPLOYMENT AGREEMENT

W I T N E S S E T HPrepared by MERRILL CORPORATION

QuickLinks
 -- Click here to rapidly navigate through this document

Exhibit 10.9  

 
 

EMPLOYMENT AGREEMENT    
  

    THIS EMPLOYMENT AGREEMENT ("Agreement") is made and entered into as of December 5, 2000 by and between Bradley K. Serwin ("Employee") and Ticketmaster
Online-Citysearch, Inc., a Delaware corporation, on behalf of itself and its affiliates (collectively, the "Company") and shall be effective as of January 1, 2001 (the "Effective Date"). 

 
 

RECITALS    
  

    WHEREAS, the Company desires to establish its right to the exclusive services of Employee, in the capacity described below, on the terms and conditions
hereinafter set forth, and Employee is willing to accept such employment on such terms and conditions. 

    NOW,
THEREFORE, in consideration of the mutual agreements hereinafter set forth, Employee and the Company have agreed and do hereby agree as follows: 

 
 

AGREEMENTS    
  

1.  EXCLUSIVE SERVICES.  The Company agrees to employ Employee as Deputy General Counsel, Vice President and Corporate
Secretary, and Employee accepts and agrees to such employment. During Employee's employment with the Company, Employee shall do and perform all services and acts necessary or advisable to fulfill the
duties and responsibilities as are commensurate and consistent with Employee's position and shall render such services on the terms set forth herein. During Employee's
employment with the Company, Employee shall report directly to the Executive Vice President and General Counsel or to such person(s) as from time to time may be designated by the Company (hereinafter
referred to as the "Reporting Officer"). Employee shall have such powers and duties with respect to the Company as may reasonably be assigned to Employee by the Reporting Officer, to the extent
consistent with Employee's position and status. Employee agrees to devote all of Employee's working time, attention and efforts to the Company and to perform the duties of Employee's position in
accordance with the Company's policies as in effect from time to time. 

2.  TERM OF AGREEMENT.  The term ("Term") of this Agreement shall commence on the Effective Date and shall continue for a
period of one (1) year thereafter. Early termination of this Agreement in accordance with the terms hereof will not affect the length of the Term. The Term may be renewed upon the mutual
agreement of the Company and Employee for up to two (2) successive one (1) year periods, effective upon the giving of mutual notice by the Company and Employee to one another no less
than 90 days prior to the end of the then current Term. 

3.  COMPENSATION.  

    (a)  BASE SALARY.  During the Term, the Company shall pay Employee an annual base salary of $225,000 (the
"Base Salary") payable in equal biweekly installments or in accordance with the Company's payroll practice as in effect from time to time and will also pay Employee a one-time payment of
$25,000 on May 15, 2001. In addition, Employee shall be eligible for a year-end bonus with a target amount of $50,000 payable in accordance with the Company's regular year end bonus
practices. 

    (b)  BENEFITS.  From the Effective Date through the date of termination of Employee's employment for any
reason, Employee shall be entitled to participate in any welfare, health and life insurance and pension benefit and incentive programs as may be adopted from time to time by the Company on the same
basis as that provided to similarly situated employees of the Company. Without limiting the generality of the foregoing, Employee shall be entitled to the following benefits: 

    (i)  Reimbursement for Business Expenses.  During the Term, the Company shall reimburse Employee for all
reasonable and necessary expenses incurred by Employee in performing 

 

Employee's duties for the Company, on the same basis as similarly situated employees and in accordance with the Company's policies as in effect from time to time. 

    (ii)  Vacation.  During the Term, Employee shall be entitled to vacation in accordance with the plans,
policies, programs and practices of the Company applicable to similarly situated employees of the
Company generally. Employee will receive no less than the amount of paid time off provided to Employee by the Company during 2000. 

4.  TERMINATION OF EMPLOYEE'S EMPLOYMENT.  

    (a)  DEATH.  In the event Employee's employment hereunder is terminated by reason of Employee's death,
the Company shall pay Employee's designated beneficiary or beneficiaries, within 30 days of Employee's death in a lump sum in cash, Employee's Base Salary through the end of the month in which
death occurs and any Accrued Obligations (as defined in paragraph 4(f) below). 

    (b)  DISABILITY.  If, as a result of Employee's incapacity due to physical or mental illness
("Disability"), Employee shall have been absent from the full-time performance of Employee's duties with the Company for a period of four consecutive months and, within 30 days
after written notice is provided to Employee by the Company (in accordance with Section 12(a) hereof), Employee shall not have returned to the full-time performance of Employee's
duties, Employee's employment under this Agreement may be terminated by the Company for Disability. During any period prior to such termination during which Employee is absent from the
full-time performance of Employee's duties with the Company due to Disability, the Company shall continue to pay Employee's Base Salary, offset by any amounts payable to Employee under any
disability insurance plan or policy provided by the Company. Upon termination of Employee's employment due to Disability, the Company shall pay Employee within 30 days of such termination
(i) Employee's Base Salary through the end of the month in which termination occurs in a lump sum in cash, offset by any amounts payable to Employee under any disability insurance plan or
policy provided by the Company; and (ii) any Accrued Obligations (as defined in paragraph 4(f) below). 

    (c)  TERMINATION FOR CAUSE.  The Company may terminate Employee's employment under this Agreement for
Cause at any time prior to the expiration of the Term. As used herein, "Cause" shall mean: (i) the plea of guilty or nolo contendere to, or conviction for, the commission of a felony offense by
Employee; provided, however, that after indictment, the Company may suspend Employee from the rendition of services, but without limiting or modifying
in any other way the Company's obligations under this Agreement; (ii) a material breach by Employee of a fiduciary duty owed to the Company; (iii) a material breach by Employee of any of
the covenants made by Employee in Sections 5 through 10 hereof; or (iv) the willful or gross neglect by Employee of the material duties required by this Agreement; provided that any
determination relating to clauses (ii), (iii) or (iv) above will be made by a written statement of the Chief Executive Officer of the Company or by resolution of the Board of Directors
of the Company. In the event of Employee's termination for Cause, this Agreement shall terminate without further obligation by the Company, except for the payment of any Accrued Obligations (as
defined in paragraph 4(f) below). 

    (d)  TERMINATION BY THE COMPANY OTHER THAN FOR DEATH, DISABILITY OR CAUSE.  If Employee's employment is
terminated by the Company for any reason other than Employee's death or Disability or for Cause, then (i) the Company shall pay Employee the Base Salary through the end of the Term over the
course of the then remaining Term; and (ii) the Company shall pay Employee within 30 days of the date of such termination in a lump sum in cash any Accrued Obligations (as defined in
paragraph 4(f) below). 

    (e)  MITIGATION; OFFSET.  In the event of termination of Employee's employment prior to the end of the
Term, Employee shall use reasonable best efforts to seek other employment and to take other reasonable actions to mitigate the amounts payable under Section 3 hereof. If Employee obtains 

2

 

other employment during the Term, the amount of any payment or benefit provided for under Section 3 hereof which has been paid to Employee shall be refunded to the Company by Employee in an
amount equal to any compensation earned by Employee as a result of employment with or services provided to another employer after the date of Employee's termination of employment and prior to the
otherwise applicable expiration of the Term, and all future amounts payable by the Company to Employee during the remainder of the Term shall be offset by the amount earned by Employee from another
employer; provided that in no event will Employee be obligated to refund to the Company more than the Company paid to Employee under Section 3 after the date of Employee's termination of
employment. For purposes of this Section 4(e), Employee shall have an obligation to inform the Company regarding Employee's employment status following termination and during the period
encompassing the Term. 

    (f)  ACCRUED OBLIGATIONS.  As used in this Agreement, "Accrued Obligations" shall mean the sum of
(i) any portion of Employee's Base Salary through the date of death or termination of employment for any reason, as the ease may be, which has not yet been paid; (ii) any compensation
previously earned but deferred by Employee (together with any interest or earnings thereon) that has not yet been paid; and all accrued and unpaid benefits due to Employee (e.g. accrued vacation/paid
time off, vested 401(k) matching funds, etc.) which are due or earned under applicable law or Company policy which is applicable to Employee. 

5.  CONFIDENTIALITY.  Employee acknowledges that while employed by the Company Employee will occupy a position of trust
and confidence. Employee shall not, except as may be required to perform Employee's duties hereunder or as required by applicable law, without limitation in time or until such information shall have
become public other than by Employee's unauthorized disclosure, disclose to others or use, whether directly or indirectly, any Confidential Information regarding the Company or any of its subsidiaries
or affiliates. "Confidential Information" shall mean information about the Company or any of its subsidiaries or affiliates, and their clients and customers that is not disclosed by the Company or any
of its subsidiaries or affiliates for financial reporting purposes and that was learned by Employee in the course of employment by the Company or any of its subsidiaries or affiliates, including
(without limitation) any proprietary knowledge, trade secrets, data, formulae, information and client and customer lists and all papers, resumes, and records (including computer records) of the
documents containing such Confidential Information. Employee acknowledges that such Confidential Information is specialized, unique in nature and of great value to the Company and its subsidiaries or
affiliates, and that such information gives the Company and its subsidiaries or affiliates a competitive advantage. Employee agrees to deliver or return to the Company, at the Company's request at any
time or upon termination or expiration of Employee's employment or as soon thereafter as possible, all documents, computer tapes and disks, records, lists, data, drawings, prints, notes and written
information (and all copies thereof) furnished by the Company and its subsidiaries or affiliates or prepared by Employee in the course of Employee's employment by the Company and its subsidiaries
or affiliates. As used in this Agreement, "subsidiaries" and "affiliates" shall mean any company controlled by, controlling or under common control with the Company. 

6.  COVENANT NOT TO COMPETE  

    (a)  COVENANT NOT TO COMPETE.  During the Term (and for a period of 24 months beyond the earlier
of (i) the last day that the Employee is employed by the Company (unless terminated for Cause, in which case the last day shall be deemed to be the last day of the Term) or (ii) the
expiration of the Term) Employee shall not, without the prior written consent of the Company, directly or indirectly engage in or assist any activity which is the same as, similar to or competitive
with the "Company Businesses" (other than on behalf of the Company or any of its subsidiaries, affiliates or successors-in-interest) including, without limitation, whether such
engagement or assistance is as an officer, director, proprietor, employee, partner, investor (other than as a holder of less than 5% of the outstanding capital stock of a publicly traded corporation),
guarantor, consultant, advisor, agent, sales 

3

 

representative or other participant, anywhere in the world that the Company or any of its subsidiaries or affiliates has been engaged, including, without limitation, the United States, Canada, Mexico,
South America, England, Ireland, Scotland, Europe and Australia and Singapore. As used herein, the term "Company Businesses" shall be limited to (i) the computerized sale of tickets for
sporting, theatrical, cinematic, live theatrical, musical or any other events on behalf of various venues and promoters through any of the distribution channels currently being utilized by the
Company, its subsidiaries, affiliates or successors-in-interest, which is conducted by the Company or any of its subsidiaries, affiliates (as such term is defined in
Rule 405 of Regulation C promulgated under the Securities Act of 1933, as amended), or successors-in-interest; (ii) the operation of Internet websites
known as "city guides" or substantially similar name or business concept which primarily provide local information and build and/or host infosites for small businesses in a searchable database format
and (iii) the operation of Internet websites which primarily provide classified matchmaking personals. 

    b)  CONSULTING SERVICES.  During the two-year period commencing immediately upon the date of
termination of Employee's employment for any reason (other than Employee's death) (the "Consulting Period"), Employee shall be available for consultation with the Company and its subsidiaries and
affiliates concerning their general operations and the industries in which they engage in business. In addition, during the Consulting Period, Employee will aid, assist and consult with the Company
and its subsidiaries and affiliates with respect to their dealings with clients and the enhancement of their recognition and reputation. During the Consulting Period, Employee shall devote such time
and energies to the affairs of the Company and its subsidiaries and affiliates as may be reasonably required to carry out his duties hereunder without jeopardizing Employee's then
full-time, non-Company Business (as defined above) employment opportunities; provided, however, that Employee shall not be obligated to devote more than 50 hours per
year to the performance of such duties. In consideration of Employee's consulting services, and in consideration of Employee's covenants contained herein, the Company shall pay to Employee $20,000
during each full year of the Consulting Period, payable in equal monthly installments. The Company further agrees to reimburse Employee for all reasonable and necessary business expenses incurred by
Employee in the performance of his consulting services in
accordance with the Company's reimbursement policy, including, without limitation, the submission of supporting evidence as reasonably required by the Company. 

7.  NON-SOLICITATION OF EMPLOYEES.  Employee recognizes that he will possess confidential information about
other employees of the Company and its subsidiaries or affiliates relating to their education, experience, skills, abilities, compensation and benefits, and interpersonal relationships with suppliers
to and customers of the Company and its subsidiaries or affiliates. Employee recognizes that the information he will possess about these other employees is not generally known, is of substantial value
to the Company and its subsidiaries or affiliates in developing their respective businesses and in securing and retaining customers, and will be acquired by Employee because of Employee's business
position with the Company. Employee agrees that, during the Term (and for a period of 24 months as set forth in Section 6 hereof), Employee will not, directly or indirectly, solicit or
recruit any employee of the Company or any of its subsidiaries for the purpose of being employed by Employee or by any business, individual, partnership, firm, corporation or other entity on whose
behalf Employee is acting as an agent, representative or employee and that Employee will not convey any such confidential information or trade secrets about other employees of the Company or any of
its subsidiaries or affiliates to any other person except within the scope of Employee's duties hereunder. 

8.  NON-SOLICITATION OF CLIENTS.  During the Term (and for a period of 24 months as set forth in
Section 6 hereof), Employee shall not solicit any Clients of the Company or any of its subsidiaries, affiliates or successors-in-interest or encourage (regardless of who
initiates the contact) any such Clients to use the facilities or services of any competitor of the Company or any of its subsidiaries, affiliates or successors-in-interest.
"Client" shall mean any person who engages the Company or any of 

4

 

its subsidiaries, affiliates or successors-in-interest with respect to any of the Company Businesses as defined in Section 6(a) above. 

9.  PROPRIETARY RIGHTS; ASSIGNMENT.  All Employee developments shall be made for hire by the Employee for the Company or
any of its subsidiaries or affiliates. "Employee Developments" means any idea, discovery, invention, design, method, technique, improvement, enhancement, development, computer program, machine,
algorithm or other work or authorship that (i) relates to the business or operations of the Company or any of its subsidiaries or affiliates, or (ii) results from or is suggested by any
undertaking assigned to the Employee or work performed by the Employee for or on behalf of the Company or any of its subsidiaries or affiliates, whether created alone or with others, during or after
working hours. All Confidential Information and all Employee Developments shall remain the sole property of the Company or any of its subsidiaries or affiliates. The Employee shall acquire no
proprietary interest in any Confidential Information or Employee Developments developed or acquired during the Term. To the extent the Employee may, by operation of law or otherwise, acquire any
right, title or interest in or to any Confidential Information or Employee Development, the Employee hereby assigns to the Company all such proprietary rights. The Employee shall, both during and
after the Term, upon the Company's request, promptly execute and deliver to the Company all such assignments, certificates and instruments, and shall promptly perform such other acts, as the Company
may from time to time in its discretion deem necessary or desirable to evidence, establish, maintain, perfect,
enforce or defend the Company's rights in Confidential Information and Employee Developments, provided that if Company requests that Employee undertake any travel or incur any costs in connection with
performing such obligations after the Term hereof, Company shall reimburse Employee for Employee's actual, reasonable and documented costs incurred in connection therewith. 

10.  COMPLIANCE WITH CODE OF CONDUCT.  During the Term, Employee shall adhere to the policies and standards of
professionalism set forth in the Company's Code of Conduct as it may exist from time to time. 

11.  REMEDIES FOR BREACH.  Employee expressly agrees and understands that the remedy at law for any breach by Employee of
Sections 5 through 10 hereof will be inadequate and that damages flowing from such breach are not usually susceptible to being measured in monetary terms. Accordingly, it is acknowledged that upon
Employee's violation of any provision of Sections 5 through 10 hereof the Company shall be entitled to obtain from any court of competent jurisdiction immediate injunctive relief and obtain a
temporary order restraining any threatened or further breach as well as an equitable accounting of all profits or benefits arising out of such violation. Nothing in Sections 5 through 10 hereof shall
be deemed to limit the Company's remedies at law or in equity for any breach by Employee of any of the provisions of Sections 5 through 10 hereof, which may be pursued by or available to the Company. 

12.  SURVIVAL OF PROVISIONS.  The obligations contained in Sections 5 through 10 hereof shall, to the extent provided in
Sections 5 through 10 hereof, survive the termination or expiration of Employee's employment with the Company and, as applicable, shall be fully enforceable thereafter in accordance with the terms of
this Agreement. If it is determined by a court of competent jurisdiction in any state that any restriction in Sections 5 through 10 hereof is excessive in duration or scope or is unreasonable or
unenforceable under the laws of that state, it is the intention of the parties that such restriction may be modified or amended by the court to render it enforceable to the maximum extent permitted by
the law of that state. 

13.  INDEMNIFICATION.  The Company shall indemnify and hold Employee harmless for acts and omissions in Employee's
capacity as an officer, director or employee of the Company to the maximum extent permitted under applicable law and the Company's charter documents; provided,
however, that neither the Company, nor any of its subsidiaries or affiliates shall indemnify Employee for any losses incurred by Employee as a result of acts described in
Section 4(c) of this Agreement. 

5

 

14.  WITHHOLDING.  The Company shall make such deductions and withhold such amounts from each payment and benefit made or
provided to Employee hereunder, as may be required from time to time by applicable law, governmental regulation or order. 

15.  MISCELLANEOUS.  

    (a)  NOTICES.  All notices and other communications under this Agreement shall be in writing and shall be
given by first-class mail, certified or registered with return receipt requested or hand delivery acknowledged in writing by the recipient personally, and shall be deemed to have been duly given three
days after mailing or immediately upon duly acknowledged hand delivery to the respective persons named below: 

	

If to the Company:	
 	

Ticketmaster Online-Citysearch, Inc.

3701 Wilshire Blvd., 9th Floor

Los Angeles, CA 90010

Attn: Chief Executive Officer, and

Attn: Vice President Human Resources, and

Attn: General Counsel
	

and:	
 	

USA Networks, Inc.

157 West 57th Street

New York, New York 10019

Attn: General Counsel
	

If to Employee:	
 	

Bradley K. Serwin

1143 Olive Lane

La Canada, California 91011

Either
party may change such party's address for notices by notice duly given pursuant hereto. 

    (b)  GOVERNING LAW; JURISDICTION.  This Agreement and the legal relations thus created between the
parties hereto shall be governed by and construed under and in accordance with the internal laws of the State of California without reference to the principles of conflicts of laws. Any and all
disputes between the parties which may arise pursuant to this Agreement will be heard and determined before an appropriate federal court California, or, if not maintainable therein, then in an
appropriate California state court. The parties acknowledge that such courts have jurisdiction to interpret and enforce the provisions of this Agreement, and the parties consent to, and waive any and
all objections that they may have as to, personal jurisdiction and/or venue in such courts. 

    (c)  TERMINATION OF PRIOR AGREEMENTS.  This Agreement constitutes the entire agreement between the
parties and terminates and supersedes any and all prior agreements and understandings (whether written or oral) between the parties with respect to the subject matter of this Agreement, except any and
all prior existing agreements between the Company and Employee with regard to the grant by the Company of stock options to the Employee prior to the date hereof. Employee acknowledges and agrees that
neither the Company nor anyone acting on its behalf has made, and is not making, and in executing this Agreement, the Employee has not relied upon, any representations, promises or inducements except
to the extent the same is expressly set forth in this Agreement. Employee hereby represents and warrants that by entering into this Agreement, Employee will not rescind or otherwise breach an
employment agreement with Employee's current employer prior to the natural expiration date of such agreement 

    (d)  ASSIGNMENT; SUCCESSORS.  Employee agrees that this Agreement may be assigned by the Company to any
company or business which is an affiliate of USA Networks, Inc. In the event of the merger, consolidation, transfer, or sale of all or substantially all of the assets of the Company with 

6

 

or to any other individual or entity, this Agreement shall, subject to the provisions hereof, be binding upon and inure to the benefit of such successor and such successor shall discharge and perform
all the promises, covenants, duties, and obligations of the Company hereunder, and all references herein to the "Company" shall refer to such successor. 

    (e)  HEADING REFERENCES.  Section headings in this Agreement are included herein for convenience of
reference only and shall not constitute a part of this Agreement for any other purpose. 

    (f)  WAIVER: MODIFICATION.  Failure to insist upon strict compliance with any of the terms, covenants, or
conditions hereof shall not be deemed a waiver of such term, covenant, or condition, nor shall any waiver or relinquishment of, or failure to insist upon strict compliance with, any right or power
hereunder at any one or more times be deemed a waiver or relinquishment of such right or power at any other time or times. This Agreement shall not be modified in any respect except by a writing
executed by each party hereto. Notwithstanding anything to the contrary herein, neither the assignment of Employee to a different Reporting Officer due to a reorganization or an internal restructuring
of the Company or its affiliated companies nor a change in the title of the Reporting Officer shall constitute a modification or a breach of this Agreement. 

    (g)  SEVERABILITY.  In the event that a court of competent jurisdiction determines that any portion of
this Agreement is in violation of any law or public policy, only the portions of this Agreement that violate such law or public policy shall be stricken. All portions of this Agreement that do not
violate any statute or public policy shall continue in full force and effect. Further, any court order striking any portion of this Agreement shall modify the stricken terms as narrowly as possible to
give as much effect as possible to the intentions of the parties under this Agreement. 

    (h)  COUNTERPARTS.  This Agreement may be executed in several counterparts, each of which shall be deemed
to be an original but all of which together will constitute one and the same instrument. 

7

 

    IN WITNESS WHEREOF, the Company has caused this Agreement to be executed and delivered by its duly authorized officer and Employee has executed and delivered this Agreement as of the
date first written above. 

	 	 	Company:	 	TICKETMASTER ONLINE-

CITYSEARCH, INC.
	

 	
 	

 	
 	

 	
 	

 
	 	 	 	 	
 By:
	 	 	 	 	Title:

  

	

 	
 	

Employee:	
 	

 Bradley K. Serwin

8

QuickLinks

EMPLOYMENT AGREEMENT

RECITALS

AGREEMENTS

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00025-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00025-of-00352.parquet"}]]