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EMPLOYMENT AGREEMENT

This Employment Agreement (“Agreement”) is made and entered into this 1st day of October 2018 (the “Effective Date”) by and between Jill Olmstead (“Executive”) and LendingTree, Inc. (the “Company”) and LendingTree, LLC (“LTLLC” which as of the Effective Date is a wholly-owned subsidiary of the Company; LTLLC and the Company are collectively the “Company Group”) (each a “Party” and collectively, the “Parties”).

1.Employment. LTLLC shall employ Executive and Executive agrees to be employed as Chief Human Resources Officer. Executive shall do and perform all services and acts necessary or advisable to fulfill the duties and responsibilities as are commensurate and consistent with Executive’s position and shall render such services on the terms set forth herein. Further, Executive shall perform such different or other duties as may be assigned to Executive by LTLLC from time to time by its Chief Executive Officer. As a fiduciary of the Company Group, Executive will devote Executive’s full working time and best efforts to the diligent and faithful performance of such duties as may be entrusted to Executive from time to time by Company Group, and shall observe and abide by the corporate policies and decisions of the Company Group in all business matters. Executive’s principal place of employment shall be the offices of the Company Group located in Charlotte, North Carolina; provided, however, that travel to the Company Group’s other offices or places of business activity may be required. Executive acknowledges that Company Group may, in its sole discretion from time to time, change Executive’s responsibilities or Executive’s direct/indirect reports without any effect hereunder.

2.Term.

(a)Initial Term. Executive’s employment shall be governed by the terms of this Agreement for the period beginning on the Effective Date and ending [October 1, 2022], unless earlier terminated as provided herein (the “Initial Term”). This Agreement will expire by its terms unless renewed in the manner set forth in Section 2.b below.

(b)Renewal Terms. Upon the written request of the Executive to extend the Executive’s employment under this Agreement beyond the Initial Term or any Renewal Term at least ninety (90) days prior to the expiration of the Agreement, the Chief Executive Officer or the Compensation Committee of the Company’s Board of Directors (the “Compensation Committee”), as applicable, shall consider extending the term of this Agreement. If Executive’s request for an extension is approved by the Chief Executive Officer or Compensation Committee, as applicable, this Agreement shall be extended by one additional year. Any such additional one- year period shall be referred to as a “Renewal Term” and, together with the Initial Term, the “Term.” In no event, however, shall Executive’s employment under this Agreement extend beyond seven (7) years. For purposes of clarity, if the Agreement is not renewed in accordance with this Section 2.b, the Agreement shall automatically expire at the end of the Term. Such expiration shall not entitle Executive to any compensation or benefits except as earned by Executive through the date of expiration of the Term. For the avoidance of doubt, following the expiration of the Term, any continued employment of Executive by LTLLC will be on an “at will” basis.

			
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3.Compensation. LTLLC shall pay and Executive shall accept as full consideration for the services to be rendered hereunder compensation consisting of the items listed below. LTLLC shall have no obligation to pay any such compensation for any period after the termination of Executive’s employment, except as otherwise expressly provided.

(a)Base Salary. Base salary, paid pursuant to LTLLC’s normal payroll practices, at an annual rate of $350,000 or such other rate as may be established prospectively by the Compensation Committee from time to time (“Base Salary”). All such Base Salary payments shall be subject to deduction and withholding authorized or required by applicable law. The Base Salary shall be reviewed by the Chief Executive Officer no later than March 31, 2022.

(b)Annual Bonus Award. Beginning on January 1, 2019, the Executive shall be eligible to receive a target annual bonus award (“Annual Bonus”) of up to 60% of Executive’s Base Salary (“Annual Bonus Percentage”) with respect to each fiscal year of the Company (each a “Performance Year”) during the Term. The terms and conditions of the Annual Bonus, including the applicable performance criteria for a Performance Year, and the amount of the Annual Bonus payable to the Executive for a Performance Year, if any, shall be determined by the Compensation Committee pursuant to an annual bonus plan for executive employees (the “Annual Bonus Plan”). If more than one Base Salary was in effect during the Performance Year, the Annual Bonus Percentage (after it is determined pursuant to the Annual Bonus Plan), will be multiplied by each Base Salary in effect during the Performance Year, on a pro rata basis. The Company may amend the Bonus Plan from time to time in its sole discretion. Except as expressly provided in this Agreement, the Annual Bonus will be paid in accordance with the Annual Bonus Plan, and is subject to discretionary adjustments based on individual performance. Executive shall not earn an Annual Bonus or any portion thereof if Executive is not employed under this Agreement on the applicable date specified for payment in the Annual Bonus Plan, except as set forth in the Annual Bonus Plan.

(c)Equity Incentives.

The Compensation Committee has approved certain equity awards to be awarded to Executive under the Company’s Fifth Amended and Restated 2008 Stock and Annual Incentive Plan, as may be amended (or replaced) by the Company (the “2008 Plan”), including initial awards following entry into this Agreement, with a total award value of $3.825 million (the “Aggregate Award Value”) based on the valuation methodology used by the Compensation Committee. For purposes of clarity, the Aggregate Award Value shall be comprised of a long term incentive award valued at $2.925 million and an inducement award valued at $900,000.

During the Term, Executive shall be eligible to receive additional equity incentives, as determined in the sole discretion of the Compensation Committee, including, but not limited to awards under the 2008 Plan. Subject to the discretion of the Compensation Committee, equity incentives may be granted to Executive at the time the Company normally grants such incentives generally and otherwise in accordance with applicable policies, practices, terms and conditions (including, but not limited to, vesting requirements), and provided further that Executive is employed by LTLLC on the date such incentives are awarded.

			
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(d)Additional Payments.

(i)Consulting Buy-Out Payment. LTLLC shall pay $250,000 (the “Consulting Buy-Out Payment”) to Executive in a single installment no later than 30 days following the Effective Date. However, Executive agrees that she will immediately repay the Buy-Out Payment to LTLLC if Executive terminates her employment other than for Good Reason (as defined in the Additional Terms) or if Company Group terminates Executive for Cause (as defined in the Additional Terms) prior to the 365th day following the Effective Date.
(ii)2018 Bonus Payment. Provided that Executive’s Effective Date is no later than October 1, 2018, LTLLC shall pay $52,500 (the “2018 Bonus Payment”) to Executive in a single installment on the same date in first quarter 2019 that annual bonus payments for services rendered in calendar year 2018 are made to other LTLLC employees (the “Bonus Payment Date”). Notwithstanding the foregoing, Executive agrees that she will immediately repay the 2018 Bonus Payment to LTLLC if Executive terminates her employment other than for Good Reason (as defined in the Additional Terms) or if Company Group terminates Executive for Cause (as defined in the Additional Terms) prior to the Bonus Payment Date.

4.Additional Terms. Attached as Exhibit A hereto and deemed a part hereof is the LendingTree Additional Terms and Conditions of Employment Agreement (the “Additional Terms”), all of the terms of which are incorporated herein by reference and are binding on the Parties.

5.Entire Agreement; Amendments. This Agreement, which includes the Additional Terms and the exhibits thereto, contains the entire agreement of the Parties with respect to the subject matter hereof and supersedes all prior agreements and understandings relating to the subject matter hereof. This Agreement may be amended in whole or in part only by an instrument in writing setting forth the particulars of such amendment and duly executed by all Parties.

By their signature below, the Parties acknowledge and agree that they have carefully read each and every provision of this Agreement, including the Additional Terms and the exhibits thereto, that they understand its terms, that all understandings and agreements between them relating to the subjects covered in this Agreement are contained in it, and that they have entered into the Agreement voluntarily. Executive further acknowledges and agrees that Executive has been advised to and given the opportunity to discuss this Agreement with Executive’s private legal counsel and Executive has taken advantage of that opportunity to the extent Executive wished to do so.

			
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IN WITNESS WHEREOF, the Company Group has caused this Agreement to be executed and delivered by its duly authorized officer and Executive has executed and delivered this Agreement as of the Effective Date.

LENDINGTREE, INC.

By:     /s/ DOUGLAS R. LEBDA     Name: Douglas R. Lebda
Title:    Chief Executive Officer LENDINGTREE, LLC
By:     /s/ DOUGLAS R. LEBDA     Name: Douglas R. Lebda
Title:    Chief Executive Officer EXECUTIVE
By:     /s/ JILL OLMSTEAD     Name: Jill Olmstead
Title:    Chief Human Resources Officer

			
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EXHIBIT A

LENDINGTREE ADDITIONAL TERMS AND CONDITIONS OF EMPLOYMENT AGREEMENT

1.Definitions:

(a)“Accrued Obligations” means the sum of (i) Executive’s earned but unpaid Base Salary through the date of termination, (ii) in the case of termination for Death or Disability only, any portion of Executive’s unpaid Annual Bonus relating to a previously completed Performance Year, (iii) any compensation previously earned but deferred by Executive (together with any interest or earnings thereon) that has not yet been paid and that is not otherwise to be paid at a later date pursuant to the executive deferred compensation plan of the Company, if any, (the “Deferred Compensation”, and (iv) reimbursements that Executive is entitled to receive under Section 8 of these Additional Terms.

(b)“Cause” shall be determined by LTLLC in its discretion and includes (i) Executive’s fraud, dishonesty, theft, or embezzlement, (ii) misconduct by Executive injurious to the Company Group or any of its affiliates, (iii) Executive’s conviction of, or entry of a plea of guilty or nolo contendere to, a crime that constitutes a felony or other crime involving moral turpitude, (iv) Executive’s competition with the Company Group or any of its affiliates; (v) Executive’s unauthorized use of any trade secrets of the Company Group or any of its affiliates or Confidential Information (as defined in the Confidentiality Agreement), (vi) a material violation by Executive of any policy, code or standard of ethics generally applicable to employees of the Company Group, (vii) Executive’s material breach of fiduciary duties owed to the Company Group, (viii) Executive’s excessive and unexcused absenteeism unrelated to a disability, (ix) following written notice and a reasonable opportunity to cure, gross neglect by Executive of the duties assigned to Executive, or (x) Executive’s failure or refusal to cooperate in any Company investigation.

(c)“Disability” means a medical condition, whether physical or mental, that renders, and for a consecutive six-month period has rendered, Executive unable to perform the essential functions of Executive’s position, with or without reasonable accommodation. A return to work of less than 14 consecutive days will not be considered an interruption in Executive’s six consecutive months of disability. Disability will be determined by LTLLC on the basis of medical evidence satisfactory to LTLLC.

(d)“Good Reason” means the occurrence of any of the following without Executive’s written consent: (i) material adverse change in the office to which Executive reports from that in effect immediately following the Effective Date, excluding for this purpose any such change that is an isolated and inadvertent action not taken in bad faith and that is remedied by the Company Group or that is authorized pursuant to this Agreement and further excluding a change in the office to which Executive reports due to internal restructuring, realignment or the resignation, promotion, demotion or a reorganization of managers within, or a sale of, the Company Group; (ii) material reduction in Executive’s annual base salary (except as part of an enterprise wide reduction of salaries for all similarly situated executives); or (iii) relocation of Executive’s principal place of business more than 50 miles from the location of the principal office

			
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from which Executive conducts Executive’s principal activities. In order to resign employment for Good Reason, Executive must notify the Company Group in writing within fifteen (15) days of the initial existence of any event falling under (i) - (iv) and such notice shall describe in detail the facts and circumstances explaining why Executive believes a Good Reason event has occurred. The Company Group shall then have sixty (60) days following its receipt of such notice to cure or remedy such alleged Good Reason event such that Good Reason will not be deemed to exist for such event. If the event remains uncured or is not remedied by the Company Group within such sixty (60) day period and if Executive’s employment has not otherwise been terminated, then a Qualifying Termination shall automatically occur on the first business day following the end of such sixty (60) day cure/remedy period.

(e)“Pro-Rated Annual Bonus” means a cash lump-sum payment in an amount equal to the pro-rated portion of Executive’s Annual Bonus for the Company’s fiscal year in which the Qualifying Termination occurs based on actual performance achieved for such year (as if the entire Annual Bonus was based solely on the applicable Company performance metrics and without regard to any assessment of personal performance), with such proration based on the ratio of the number of days employed during such year to 365.

(f)“Qualifying Termination” means a termination of Executive’s employment with LTLLC prior to the expiration of the Term by Executive for Good Reason or by the Company Group without Cause (other than for death or Disability).

(g)“Release of Claims” means a general release of all known and unknown claims against the Company Group and their affiliates in the form attached hereto as Exhibit 1, as updated by the Company to reflect changes in the law.

2.Resignation from Officer and Director Roles. Effective as of the termination of Executive’s employment with the Company, regardless of the reason for or the timing of such termination, Executive agrees to and shall be deemed to have resigned effective immediately from all roles Executive holds with the Company Group, including without limitation as an officer or director. Such resignations shall not limit or otherwise waive any rights Executive may have to payments and benefits under this Agreement.

3.Termination Due to Disability or Death.

(a)Disability. If at any time during the Term of this Agreement, Executive incurs a Disability, then Executive’s employment shall be immediately terminated as of the date of Executive’s Disability. Upon Executive’s Disability, LTLLC shall pay Executive the Accrued Obligations; provided that Annual Bonus awards relating to a previously-completed Performance Year shall be paid on the date that such awards are paid by LTLLC to other similarly situated executives in accordance with the Annual Bonus Plan.

(b)Death. If Executive should die during the Term, Executive’s employment and the Company Group’s obligations hereunder shall terminate as of Executive’s death. In such event, LTLLC shall pay Executive’s estate the Accrued Obligations; provided that Annual Bonus awards relating to a previously completed Performance Year shall be paid on the date that such

			
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awards are paid by LTLLC to other similarly situated executives in accordance with the Annual Bonus Plan.

4.Termination by the Company Group During the Term.

(a)Cause. The Company Group may terminate the employment of Executive under this Agreement during its Term for Cause. In such event, LTLLC shall pay Executive the Accrued Obligations. Executive shall retain only such rights to participate in other benefits as are required by the terms of those plans, the Company Group’s policies, or applicable law.

(b)Termination by the Company Group other than for Death, Disability or Cause. Upon a Qualifying Termination that is not upon or at any time during the 12-month period following the occurrence of a Change of Control, LTLLC shall pay Executive the amounts described below. For the avoidance of doubt, expiration of the Term is not a Qualifying Termination. Notwithstanding the foregoing, Executive shall receive the payments and benefits described in subsections (ii) - (iv) below only if Executive executes and does not revoke a Release of Claims and Executive complies with the restrictive covenants set forth in the Confidentiality Agreement attached hereto as Exhibit 1. If Executive does not execute the Release of Claims within sixty (60) days following the Qualifying Termination, or if Executive revokes the Release of Claims (the end of the permitted revocation period following execution without revocation being exercised, the “Release Effective Date”), Executive shall not be entitled to the payments and benefits described in subsections (ii) - (iv) below.

(i)Any Accrued Obligations.

(ii)An amount equal to one (1) year of Executive’s then-current Base Salary, payable in installments on LTLLC’s regularly scheduled payroll dates over the one (1) year period following the date of such Qualifying Termination (“Salary Continuation Payments”) beginning on the regularly scheduled payroll date immediately following the effective date of the Release of Claims. Notwithstanding the foregoing, if the Salary Continuation Payments are determined to be “nonqualified deferred compensation” that is subject to Section 409A (as defined below), then the first installment shall be made on the sixtieth (60th) day following the date of Executive’s Qualifying Termination and shall include the amount of all payments that would have been made after the effective date of the Release of Claims but before the sixtieth (60th) day following such Qualifying Termination, and the remaining Salary Continuation Payments shall be payable in installments on LTLLC’s regularly scheduled paydays following the sixtieth (60th) day following such Qualifying Termination.

(iii)If Executive properly elects COBRA continuation coverage, the Company will reimburse Executive for his COBRA premiums on the same terms and conditions, and at the same level in effect at the time of termination of Executive’s employment, upon submission of proof of payment, until the earlier of: (1) one (1) year from the date of Executive’s loss of coverage, or (2) the date Executive obtains replacement health care coverage through a new employer.

(iv)Executive’s (a) then outstanding unvested Restricted Stock Units (“RSUs”) or Restricted Stock issued pursuant to the 2008 Plan and scheduled to vest within nine

			
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months of the Qualifying Termination, if any, shall become vested on the effective date of the Release of Claims, and (b) then outstanding unvested Options to purchase common stock (“Options”) issued pursuant to the 2008 Plan and scheduled to vest within nine months of the Qualifying Termination, if any, shall become vested and exercisable on the effective date of the Release of Claims. Notwithstanding the foregoing, this subsection (iv) shall not apply to any award under the 2008 Plan to the extent such award expressly states that its vesting acceleration terms take precedence over anything to the contrary in an employment agreement. All RSUs that vest pursuant to this subsection (iv) shall be settled in accordance with the grant terms of such RSUs. All Options that vest pursuant to this subsection (iv) shall remain exercisable only to the extent permitted under the grant terms of such Options. All other unvested RSUs, Restricted Stock and Options issued to Executive pursuant to the 2008 Plan and which are not covered by the foregoing clauses (a) and (b) shall terminate without consideration as of the date of such Qualifying Termination. Additionally, if the Release of Claims does not take effect, then the RSUs or Options that were covered by the foregoing clauses (a) and (b) shall terminate without consideration as of the 61st day following the date of such Qualifying Termination.
Notwithstanding the foregoing, if Executive obtains other employment or is otherwise compensated for services during the period in which Executive is receiving Salary Continuation Payments (the “Severance Period”), LTLLC’s obligation to make future payments to Executive under subsections (ii) and (iii) above shall be offset against any compensation earned by Executive as a result of employment with or services provided to a third party; notwithstanding the above, Executive shall receive a guaranteed minimum Salary Continuation Payment of Five Hundred Dollars ($500.00) regardless of any compensation earned from third parties during the Severance Period (“Guaranteed Minimum Severance Payment”). Executive agrees to inform the Company Group promptly of Executive’s employment status and any amounts so earned during the Severance Period. Further, LTLLC’s obligation to make payments under subsections (ii) and (iii) above shall immediately cease in the event that Executive breaches the terms of this Agreement (including these Additional Terms) or the Confidentiality Agreement, including but not limited to Executive’s obligations set forth in Section 9 of this Agreement. Executive acknowledges and agrees that the payments described in Section 3(b) above, or any portion thereof, including without limitation the Guaranteed Minimum Severance Payment, constitute good and valuable consideration for the Release of Claims.

5.Termination After the Term. If Executive’s employment continues beyond the Term, Executive’s employment shall be at will. In other words, after the Term, the Company Group and Executive may terminate the employment relationship at any time, for any reason, with or without cause. The Company Group retains the right to transfer, demote, or suspend Executive without cause and without notice, at any time. If Executive’s employment is terminated after the Term, regardless of whether the termination was with or without Cause, or by Executive for “Good Reason, Executive shall be entitled to receive only the Accrued Obligations.

6.Change of Control. For purposes of this Agreement, a “Change of Control” results when: (i) any person or entity, other than Doug Lebda or persons or entities having beneficial ownership of securities of the Company also beneficially owned by Doug Lebda, becomes a beneficial owner, directly or indirectly, of securities of the Company representing fifty percent or more of the total voting power of all of the Company’s then outstanding voting securities, (ii) a merger or consolidation of the Company in which the Company’s voting securities immediately

			
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prior to the merger or consolidation do not represent, or are not converted into securities that represent, a majority of the voting power of all voting securities of the surviving entity immediately after the merger or consolidation, or (iii) a sale of all or substantially all of the assets of the Company or a liquidation or dissolution of the Company. For purposes of defining Change of Control, “Company” refers to LendingTree, Inc. as a whole and does not apply to events only affecting specific businesses or subsidiaries of LendingTree, Inc. To the extent necessary to comply with Section 409A (as defined below), a Change of Control must also constitute a “change in control event” within the meaning of Section 409A.

(a)If a Change of Control occurs while Executive is employed by LTLLC then the following benefits will be provided to Executive automatically upon the Change of Control:
(i) all then-outstanding unvested equity awards held by Executive that are scheduled to vest based solely on time will become fully vested and immediately exercisable immediately prior to such Change of Control; and (ii) all then-outstanding unvested Company compensatory equity awards held by Executive that are subject to performance-based vesting will vest based on the actual level of achievement of the applicable performance goals measured as of (or within five business days before) the date of such Change of Control; provided, that any portion of the award that does not vest as of such date will be forfeited without consideration upon the Change of Control;

(b)In the event that Executive experiences a Qualifying Termination upon or at any time during the 12-month period following the occurrence of a Change of Control, then Executive will receive (x) payment of the Accrued Obligations within thirty (30) days of such termination (or earlier, to the extent required by applicable law) and (y) the payments and benefits described in clauses (i) through (iii) below, but (with respect to clauses (i) through (iii) below) only if Executive timely executes and does not revoke the Release of Claims and Executive complies in all material respects with Executive’s obligations under the Confidentiality Agreement, as defined below. If Executive does not execute the Release of Claims within sixty
(60)days following the date of such Qualifying Termination, or if Executive revokes the Release of Claims before the Release Effective Date, Executive will not be entitled to the payments and benefits described in clauses (i) through (iii) below. For avoidance of doubt, if Executive experiences a Qualifying Termination upon or at any time during the 12-month period following the occurrence of a Change of Control, then Executive will not be eligible to receive any payments or benefits under Section 3(b) herein. There is no requirement for Executive to mitigate the benefits provided in clauses (i) through (iii) below.

(i)A cash lump sum severance payment in an amount equal to the sum of (x) 200% of Executive’s then-current Base Salary plus (y) 200% of Executive’s target annual bonus for the bonus program in effect for Executive for the year in which Executive’s employment terminates plus (z) the Pro-Rated Annual Bonus, payable on the regularly scheduled payroll date immediately following the Release Effective Date;

(ii)With respect to Executive’s then-outstanding vested stock options, Executive will be able to exercise such vested stock options until the earliest of (x) their applicable expiration date, (y) the date of a change of control of the Company in which the applicable stock option is not being assumed, continued, substituted for or otherwise replaced as of such change of control, or (z) the second anniversary of the date of Qualifying Termination; and

			
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(iii)Subject to the terms and conditions of Section 3(b)(iii), Executive will be entitled to receive the continuation of health care coverage benefit under Section 3(b)(iii).

(c)To the extent that Executive and the Company are parties to a Change of Control Letter Agreement, such prior agreement is hereby superseded and terminated as of the Effective Date and is of no further force or effect.

7.Confidentiality, Work Product and Restrictive Covenant Agreement. As a condition of Executive’s employment, Executive agrees to execute the Confidentiality, Work Product and Restrictive Covenant Agreement (the “Confidentiality Agreement”) attached hereto as Exhibit 2. Executive agrees and acknowledges that the benefits received by Executive pursuant to this Agreement, including but not limited to those set forth in Section 3 of this Exhibit A, constitute good and valuable consideration for Executive’s obligations under the Confidentiality Agreement.

8.Employee Benefits.

(a)Paid Time Off. During the Term, Executive shall be entitled to take paid time off, in accordance with applicable plans, policies, programs, practices and legal requirements applicable to similarly-situated employees generally.

(b)Other. Executive shall be entitled to such other benefits, payments, or items of compensation as are provided under the employee benefit plans of LTLLC or as are made available from time to time under compensation policies set by LTLLC for management employees of LTLLC having similar salary and level of responsibility. Employee acknowledges that Employee’s eligibility for and participation in any such plan or program shall be subject to and controlled by the terms and conditions of such plans and programs, and that LTLLC makes no representation or agreement that any particular plan currently exists, will be maintained (in its present form, or at all), or will be established in the future.

9.Reimbursement. The Company Group shall reimburse Executive, in accordance with applicable law and the general policies and practices of the Company Group as in effect from time to time, for reasonable out-of-pocket expenses incurred by Executive in the ordinary course of business, including without limitation, the Company Group’s standard mileage allowance for business use of any personal vehicle, business related travel, customer entertainment, and professional organizations.

10.Actions After Termination. Executive agrees that for one (1) year following Executive’s termination of employment, regardless of the reason for the termination, Executive will continue to make himself or herself available for reasonable consultation with the Company Group and the Company Group’s agents and employees regarding Executive’s prior work for the Company Group. In addition, Executive shall make himself or herself reasonably available for interviews by the Company Group’s counsel, depositions, and/or appearances before courts or administrative agencies upon the Company Group’s reasonable request. Executive agrees that if at any time following termination Executive is contacted by any government agency, regulator or bureau, by any stock or listing exchange or any self-regulatory organization, or by any customer of the Company Group, with reference to the Company Group’s business, or by any person

			
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contemplating or maintaining any claim or legal action against the Company or LTLLC, or by any agent or attorney of such person, Executive will, to the fullest extent permitted by law, promptly notify the Company Group of the substance of Executive’s communications with such person and shall cooperate with the Company Group in defense of such claim or legal action. The Company Group agrees to reimburse any reasonable third party expenses incurred by Executive in connection with this Section 9, provided that such expenses shall have been preapproved in writing by the Company Group.

11.Taxes. All payments made under this Agreement shall be subject to the Company Group’s withholding of all required foreign, federal, state and local income and employment/payroll taxes, and all payments shall be net of such tax withholding.

12.Recoupment. Notwithstanding anything to the contrary in this Agreement, any payments made or granted pursuant to this Agreement shall be subject to any recoupment or clawback policy that may be adopted by the Company Group from time to time and to any requirement of applicable law, regulation or listing standard that requires the company to recoup or claw back compensation paid.

13.Non-Disparagement. From and after a Qualifying Termination, Executive agrees not to disparage the Company Group or any officers, directors, employees, shareholders, parent companies, affiliates or agents of the Company Group (each an “Employer Party”). For purposes of this Section, “disparage” means to make a negative statement in any manner that is intended to be or is likely to be harmful to an Employer Party, its business or business reputation or personal reputation; provided that nothing in this Agreement is intended to prohibit or shall prohibit Executive from providing truthful information or testimony in connection with any legal or regulatory investigation or proceeding. This Agreement shall cover all forms of disparagement, direct or indirect, through any medium or in any venue.

14.Section 280G Limitation. Notwithstanding anything in this Agreement to the contrary, in the event that any payment or benefit received or to be received by Executive (all such payments and benefits being hereinafter referred to as the “Total Payments”) would not be deductible (in whole or part) by the Company Group or any affiliates making such payment or providing such benefit as a result of Section 280G of the U.S. Internal Revenue Code of 1986, as amended (the “Code”) then, to the extent necessary to make such portion of the Total Payments deductible (and after taking into account any reduction in the Total Payments required by any similar reduction or elimination provision contained in such other plan, arrangement or agreement), the portion of the Total Payments that does not constitute “nonqualified deferred compensation” under Section 409A of the Code shall first be reduced (if necessary, to zero), and all other Total Payments shall thereafter be reduced (if necessary, to zero) with, in each case, cash payments being reduced before non-cash payments (and, within each category, payments to be paid last being reduced first); provided, however, that such reduction shall only be made if the amount of such Total Payments, as so reduced (and after subtracting the net amount of federal, state and local income taxes on such reduced Total Payments) is greater than or equal to the amount of such Total Payments without such reduction (but after subtracting the net amount of federal, state and local income taxes on such Total Payments and the amount of the excise tax imposed under Section 4999 of the Code on such unreduced Total Payments). Any determination required

			
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to be made under this Section shall be made by independent tax counsel reasonably acceptable to both Executive and the Company, and shall be paid for by the Company (“Tax Counsel”).

It is possible that, after the determinations and selections made pursuant to the foregoing paragraph, Executive will receive payments and/or benefits that are, in the aggregate, either more or less than the amount determined under such paragraph (hereafter referred to as an “Excess Payment” or “Underpayment”, as applicable). If Tax Counsel determines that an Excess Payment has been made, then Executive shall promptly repay the Excess Payment to the Company, together with interest on the Excess Payment at the applicable federal rate (as defined in section 1274(d) of the Code) from the date of Executive’s receipt of such Excess Payment until the date of such repayment. If Tax Counsel determines that an Underpayment has occurred, the Company Group shall promptly (but in any event within ten (10) days of such determination) pay to Executive an amount equal to the Underpayment, together with interest on such amount at the applicable federal rate from the date such amount would have been paid to Executive had the provisions of the foregoing paragraph not been applied until the date of payment.

15.Section 409A. The Parties intend that any amounts payable hereunder shall comply with or be exempt from Section 409A of the Code (“Section 409A”) (including under Treasury Regulation §§ 1.409A-1(b)(4) (“short-term deferrals”) and (b)(9) (“separation pay plans,” including the exceptions under subparagraph (iii) and subparagraph (v)(D)) and other applicable provisions of Treasury Regulation §§ 1.409A-1 through A-6). For purposes of Section 409A, each of the payments that may be made under this Agreement shall be deemed to be a separate payment. Executive and the Company Group agree to negotiate in good faith to make amendments to the Agreement, as the Parties mutually agree are necessary or desirable to avoid the imposition of taxes, penalties or interest under Section 409A. Neither Executive nor the Company Group shall have the right to accelerate or defer the delivery of any such payments or benefits except (i) where payment may be made within a certain period of time, the timing of payment within such period will be in the sole discretion of the Company Group, and (ii) to the extent specifically permitted or required by Section 409A. With respect to the time of payments of any amounts under the Agreement that are “deferred compensation” subject to Section 409A, references in the Agreement to “termination of employment” (and substantially similar phrases) shall mean “separation from service” within the meaning of Section 409A. Notwithstanding anything in this Agreement to the contrary, if Executive is considered a “specified employee” under Section 409A upon Executive’s separation from service and if payment of any amounts on account of Executive’s separation from service under this Agreement is required to be delayed for a period of six months after separation from service in order to avoid taxation under Section 409A, payment of such amounts shall be delayed as required by Section 409A, and the accumulated amounts shall be paid in a lump sum payment within five business days after the end of the six-month delay period. If Executive dies during the six-month delay period prior to the payment of benefits, the amounts withheld on account of Section 409A shall be paid to the personal representative of Executive’s estate within 60 days after the date of Executive’s death. For the avoidance of doubt, it is intended that any expense reimbursement made to Executive hereunder shall be exempt from Section 409A. Notwithstanding the foregoing, if any expense reimbursement made hereunder shall be determined to be “deferred compensation” within the meaning of Section 409A, then (i) the amount of the expense reimbursement during one taxable year shall not affect the amount of the expense reimbursement during any other taxable year, (ii) the expense reimbursement shall be made on or before the last day of Executive’s taxable year following the year in which the expense was

			
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incurred and (iii) the right to expense reimbursement hereunder shall not be subject to liquidation or exchange for another benefit. While it is intended that all payments and benefits provided to Executive under this Agreement will be exempt from or comply with Section 409A, the Company Group makes no representation or covenant to ensure that such payments and benefits are exempt from or compliant with Section 409A. The Company Group will have no liability to Executive or any other party if a payment or benefit under this Agreement or otherwise is challenged by any taxing authority or is ultimately determined not to be exempt or compliant. Executive further understands and agrees that Executive will be entirely responsible for any and all taxes imposed on Executive as a result of this Agreement.

16.Confidentiality. The Parties represent and agree they will keep the terms of this Agreement completely confidential, and that none of the Parties will hereafter disclose any information concerning the terms of this Agreement to anyone, including, but not limited to, the public, press and media representatives, investors, and any past, present or prospective employee or applicant for employment of the Company Group; provided that:

(a)The Company Group may disclose the terms of this Agreement to the extent required by applicable securities laws, regulations and interpretations of the Securities and Exchange Commission or the rules of any stock exchange upon which the Company Group’s securities trade;

(b)Executive may disclose information regarding Executive’s wages solely as permitted by under California Labor Code section 232, and information regarding this Agreement to Executive’s immediate family, financial and tax advisors, and legal counsel, but Executive shall be responsible for any disclosure made by such persons in violation hereof;

(c)The Company Group may disclose information as is necessary for the administration of the Agreement; and

(d)Any Party may take any action authorized hereby or by law to enforce this Agreement or to recover damages for its breach, and no disclosure incidental thereto or made as a result of legal process (such as, for example, responses to interrogatories, subpoenas or other legal process) shall be deemed a violation hereof.

17.Agreement to Arbitrate. The Parties agree to resolve all disputes with each other as set forth the Executive Dispute Resolution Agreement that is attached hereto as Exhibit 3 and incorporated herein by reference.

18.Assignment. This Agreement is personal in its nature and none of the Parties hereto may, without the consent of the others, assign or transfer this Agreement or any rights or obligations hereunder; provided that, in the event of a merger, consolidation, transfer, reorganization, or sale of all, substantially all or a substantial portion of the assets of the Company or LTLLC with or to any other individual or entity, this Agreement will, subject to the provisions hereof, be binding upon and inure to the benefit of such successor and such successor (including the Company upon assignment of this Agreement) must discharge and perform all the promises, covenants, duties, and obligations of the Company Group hereunder, and all references herein to the “Company” or “LTLLC” or “Company Group” will refer to such successor.

			
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19.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 by hand delivery, or by overnight delivery by a national recognized carrier, in each case to the applicable address set forth below, and any such notice is deemed effectively given which received by recipient (or if receipt is refused by recipient, when so refused):

						
	If to the Company Group:
	LendingTree, Inc. 11115 Rushmore Dr.
Charlotte, NC 28277 Attn: General Counsel

	If to Executive:
	At the most recent address for Executive on file with the Company Group.

Any Party may change such Party’s address for notices by notice duly given pursuant hereto.

20.Invalid Provisions. It is not the intention of any Party to violate any public policy, or any statutory or common law. If any sentence, paragraph, clause or combination of the same in this Agreement is in violation of the law of any State where applicable, such sentence, paragraph, clause or combination of the same shall be void in the jurisdictions where it is unlawful, and the remainder of the Agreement shall remain binding on the Parties. However, the Parties agree, and it is their desire that a court should substitute for each such illegal, invalid or unenforceable covenant a reasonable and judicially-enforceable limitation in its place, and that as so modified the covenant shall be as fully enforceable as if set forth herein by the Parties themselves in the modified form.

21.Multiple Counterparts. This Agreement may be executed in two or more counterparts, each of which will be deemed an original, but all of which together shall constitute one and the same instrument.

22.Survival. Upon any termination of this Agreement or of Executive’s employment, the provisions of Sections 5, 7, and 10 through 23 of this Exhibit A to the Agreement, the General Release (Exhibit 1), the Confidentiality Agreement (Exhibit 2), and the Executive Dispute Resolution Agreement (Exhibit 3) shall survive to the extent necessary to give effect to the provisions thereof.

23.Governing Law; Jurisdiction. The validity, construction, interpretation and enforceability of this Agreement and any dispute arising hereunder shall be determined and governed by the laws of the state in which the principal office from which Executive conducts Executive’s principal activities is located at the time of Executive’s termination of employment or at the time the dispute arises if prior to termination of employment (“Applicable State”). Any litigation in court permitted under this Agreement shall be brought by any Party exclusively in the Applicable State. In addition, and to the extent permitted by the law of the Applicable State, the Parties irrevocably waive any right to a trial by jury in any such action related to this Agreement.

			
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IN WITNESS WHEREOF, the Parties hereto have executed and delivered these Additional Terms and Conditions of Employment Agreement as of the date(s) written below.

LENDINGTREE, INC.

By:     /s/ DOUGLAS R. LEBDA     Name: Douglas R. Lebda
Title:    Chief Executive Officer LENDINGTREE, LLC
By:     /s/ DOUGLAS R. LEBDA     Name: Douglas R. Lebda
Title:    Chief Executive Officer EXECUTIVE
By:     /s/ JILL OLMSTEAD     Name: Jill Olmstead
Title:    Chief Human Resources Officer

			
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Exhibit 1

General Release Agreement

			
	-16-

Exhibit 2

Confidentiality, Work Product and Restrictive Covenant Agreement

			
	-17-

Exhibit 3

Executive Dispute Resolution Agreement
			
	-18-Document

SEPARATION AGREEMENT AND GENERAL RELEASE
This Separation Agreement and General Release (the “Agreement”) is made and entered into by and between Neil Salvage (“Executive”) and LendingTree, Inc. ( “LTI”) and LendingTree, LLC (the “Company” which is a wholly-owned subsidiary of LTI; LTI and the Company are collectively the “Company Group”) (each a “Party” and collectively, the “Parties”), pursuant and subject to the terms of the LendingTree Executive Severance Pay Plan (the “Plan”).  
1.The Parties agree and acknowledge that: (i) Executive’s employment with the Company, which is currently on an “at-will” basis, was terminated due to a Qualifying Termination (as defined in the Plan) effective on January 31, 2022 (the “Separation Date”), and such termination was not in connection with or following a Change in Control (as defined in the Plan); (ii) Executive was previously selected by the Plan Sponsor (as defined in the Plan) to participate in the Plan, and has previously executed a Participation Agreement (as defined in the Plan) with respect to the Plan; (iii) Executive is executing this Agreement as a condition for eligibility to receive the separation benefits provided for under the Plan; and (iv) this Agreement contains a “Release” as referenced in the Plan, and incorporates by reference all terms, conditions, requirements, and exclusions set forth in the Plan as if fully set forth herein.
2.Consideration.
(a)Executive understands and agrees that the value and consideration provided to Executive herein is sufficient to bind Executive to the terms of this Agreement, and that Executive will have twenty-one (21) calendar days after receiving the Agreement during which to consider, sign, and return the Agreement. 
(b)Following the Effective Date (as defined in Section 12(c) below) of this Agreement, the Company Group shall provide Executive with the payments and benefits set forth in Schedule A of the Plan applicable for a “Qualifying Termination other than in connection with a Change in Control,” subject to the terms, conditions, requirements, and exclusions set forth in the Plan.  For the avoidance of doubt, those benefits include the following:
i. Cash severance equal to 1.0x Executive’s base salary, payable in equal installments over the twelve (12)-month period following Executive’s Qualifying Termination, in accordance with Section 3 of the Plan and regular payroll policies;
ii.Accelerated vesting of Executive’s outstanding equity awards that would have vested during the twelve (12) months following Executive’s Qualifying Termination; and 
iii.Coverage of up to twelve (12) months of COBRA premiums for Executive and Executive’s eligible dependents. 
(c)As additional consideration for Executive’s execution of the additional covenants contained in Section 5 below, following the Effective Date of this Agreement the Company Group shall additionally provide to Executive of a one-time lump sum payment in the amount of Two Hundred Ninety-Two Thousand Five Hundred and No/100 Dollars ($292,500.00), less all taxes and other applicable payroll deductions (the “Additional Consideration”), representing the value of sixty-five percent (65%) of Executive’s target bonus for 2021 performance, which Additional Consideration shall be payable to Executive on the first regularly scheduled payroll date following the Effective Date.    
									
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(d) No payments made pursuant to this Agreement or the Plan shall be considered as creditable “compensation” under any pension, savings, or other benefit plan maintained by any of the Company Group, unless specifically provided for under the applicable plan documents.  
3.General Release of Claims.  Except as specified below, Executive waives and releases the Company, LTI, and their respective former, current, and future parents, affiliates, related entities, predecessors, successors, and subsidiaries, and each of these entities’ respective current and former officers, directors, agents, employees, attorneys, assigns, insurers, Company Group sponsored or established benefit plans, administrators, fiduciaries, and trustees of any Company Group sponsored or established benefit plans (collectively, the “Releasees”), to the maximum extent permitted by law, from any and all claims or causes of action, whether or not now known, foreseen or unforeseen, with respect to any act, event, or omission occurring through and including the date on which Executive signs this Agreement, and including but not limited to any matter arising out of or connected with Executive’s hire or employment with the Company or the termination of such employment, including without limitation, claims for compensation, bonuses, commissions, stock options, restricted stock, equity of any form or nature, shadow stock (excluding, in each case, any Equity Rights, as defined below), wages, monetary damages, and including any claim based in tort, contract, statute, regulation, constitutional provisions, or any other common law claim, any claims of wrongful discharge, defamation, slander, libel, fraud, assault, battery, negligent or intentional infliction of emotional distress, negligent or intentional misrepresentation, negligent or intentional interference with contract or prospective economic advantage, unfair business practices, negligence, personal injury, invasion of privacy, false imprisonment, conversion, breach of contract (whether express, oral, written or implied from any source), and breach of the covenant of good faith and fair dealing, promissory estoppel, fraud, any claims for alleged discrimination, retaliation or harassment based on sex, age, race, national origin, disability, sexual orientation, medical condition, pregnancy or any other protected basis, claims under Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Age Discrimination in Employment Act of 1967 (“ADEA”), the Rehabilitation Act, the Equal Pay Act, the Americans with Disabilities Act, the Executive Retirement Income Security Act, the Fair Labor Standards Act, the Fair Credit Reporting Act, the Worker Adjustment and Retraining Notification Act, the Family and Medical Leave Act, except as prohibited by law, the Sarbanes-Oxley Act of 2002, the North Carolina Retaliatory Employment Discrimination Act, the North Carolina Persons With Disabilities Protection Act, the North Carolina Wage and Hour Act, the North Carolina Equal Employment Practices Act, and any and all other constitutional, federal, state and local laws and regulations relating to employment, all as amended, and any and all claims for attorneys’ fees and costs, and interest and penalties (collectively, the “Claims”), with the only exceptions to such waiver and release being:   
(a)Any rights to defense or indemnification or insurance coverage that Executive may have as a former officer or director of the Company Group; 
(b)Unemployment, state disability, and/or paid family leave insurance benefits pursuant to the terms of applicable law; 
(c)Workers’ compensation insurance benefits pursuant to applicable state law under the terms of any worker’s compensation insurance policy or fund;
(d)Continued participation in the Company Group’s group medical benefit plans at pursuant to the terms and conditions of the federal law known as “COBRA” and/or any applicable state law counterpart; 
									
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(e)Any rights with respect to any stock options, restricted stock units, shares of stock, phantom equity, or other grants or rights made by any member of the Company Group to Executive from time to time pursuant to written documentation executed by any member of the Company Group (collectively, “Equity Rights”); and
(f)Any other rights that, pursuant to applicable law, are not subject to waiver by Executive. 
    It is expressly agreed and acknowledged that the rights referenced in the foregoing clauses (a)-(f) are not “Claims” and are therefore excluded from the scope of the releases set forth in this Section 3.
If and to the extent that any claims, demands, or causes of action Executive released or attempted to release in this Section 3 exist and accrued prior to the execution of this Agreement by Executive, and the approval of any court, agency, administrative body, commission, or other entity is necessary to fully effectuate any such release, Executive agrees to participate in and cooperate fully with the Company Group and any other Releasees in obtaining any such approval.  
4.Nothing in this Agreement restricts or prohibits Executive from initiating communications directly with, responding to any inquiries from, providing testimony before, providing confidential information to, reporting possible violations of law or regulation to, or from filing a claim or assisting with an investigation directly with a self-regulatory authority or a government agency or entity, including the U.S. Equal Employment Opportunity Commission, the Department of Labor, the National Labor Relations Board, the Department of Justice, the Securities and Exchange Commission, the Congress, and any agency Inspector General (collectively, the “Regulators”), or from making other disclosures that are protected under the whistleblower provisions of state or federal law or regulation.  However, to the maximum extent permitted by law, Executive is waiving Executive’s right to receive any individual monetary relief from the Company Group or any Releasees resulting from such claims or conduct, regardless of whether Executive or another party has filed them, and in the event Executive obtains such monetary relief the Company Group will be entitled to an offset for the payments made pursuant to this Agreement.  This Agreement does not limit Executive’s right to receive an award from any Regulator that provides awards for providing information relating to a potential violation of law.  Executive does not need the prior authorization of the Company Group to engage in conduct protected by this Section 4, and Executive does not need to notify the Company Group that Executive has engaged in such conduct.  
5.Executive Covenants.  In consideration of the compensation provided to Executive set forth in Section 2(c) above, and in order to protect the substantial time, money, and effort invested by the Company Group, their selling, marketing, pricing, and servicing strategies, the development of goodwill among their customers, and other legitimate business interests, Executive agrees as follows:
(a)Covenant Not to Disclose Confidential Information.  Executive acknowledges and agrees that by reason of Executive’s employment with and service to the Company, Executive has had access to valuable, highly confidential, privileged, and proprietary information relating to the business of the Company, LTI, and any subsidiaries of any of the Company Group (collectively, the “Subsidiaries,” which currently includes QuoteWizard.com, LLC, and Ovation Credit Services, Inc.) (with the Company Group and the Subsidiaries sometimes referred to collectively as the “Collective Group”), and/or their respective customers (including but not limited to lenders or insurers), suppliers, vendors, and other business partners, including, without limitation: business plans, customer files and lists; sales methods and techniques; pricing structure and data; marketing concepts, strategies, and plans; technologies 
									
		3 of 13
	
			

and processes, including without limitation technologies and systems of the Company or any of the Collective Group for matching buyers and sellers; data, software, and formulae; information furnished to the Company or any of the Collective Group by third parties, including without limitation consumer information, that is subject to confidentiality obligations; financial matters and all other know how, trade secrets, or proprietary information, or any copies, elaborations, modifications and adaptations thereof, which are in the possession, custody, or control of the Company or any of the Collective Group (hereinafter collectively referred to as “Confidential Information”).  The Confidential Information includes the items described herein whether or not developed or created by the Company or any of the Collective Group, and may be in a draft, partial, or final status of preparation.  Executive acknowledges that the unauthorized use or disclosure by Executive of any of the Confidential Information would seriously damage the business of the Company and (as applicable) others in the Collective Group.
i.Unless otherwise provided herein, “Confidential Information” shall not include: (i) information that is generally known or is available to the general public through legitimate origins (and other than as the result of unauthorized disclosure by or through Executive), as of the date such information becomes generally known or available to the general public; 
(ii) information that is rightfully acquired by Executive outside the course and scope of Executive’s employment with the Company and from a source other than the Company or any of the Collective Group, where the disclosure of such information to Executive is not in violation of any obligation to the Company or any of the Collective Group, as of the date such information is actually acquired by Executive; (iii) knowledge, skills, or information which is common to the trade or profession of Executive; and (iv) information that was known to Executive prior to any employment by the Company or any others in the Collective Group, which knowledge Executive can establish by direct and preexisting written evidence.  Notwithstanding the above, Executive shall be liable for the unauthorized use or disclosure of any information that was Confidential Information at the time of such use or disclosure, regardless of whether such information loses its status as Confidential Information subsequent to or as a result of such unauthorized use or disclosure.
ii.Executive acknowledges and agrees: (i) that the Confidential Information and all copies thereof, as described herein, is sensitive, valuable, and proprietary information that is the sole and lawful property of the Company, or (as applicable) of others in the Collective Group or which has been entrusted to the Company or (as applicable) others in the Collective Group subject to certain confidentiality obligations; (ii) that the Confidential Information represents a material investment of the time, money, and other resources of the Company or (as applicable) others in the Collective Group; (iii) that the Company or (as applicable) others in the Collective Group have a legitimate need to protect such Confidential Information; (iv) that such Confidential Information is the subject of reasonable efforts on behalf of the Company or (as applicable) others in the Collective Group to keep it confidential; (v) that Confidential Information to which Executive was exposed prior to the execution of this Agreement, if any, shall nevertheless constitute Confidential Information, and shall be subject to the terms, requirements, and restrictions herein; (vi) that Executive has no interest in or rights with respect to any of the Confidential Information; and (vii) that the Confidential Information constitutes proprietary, sensitive, and confidential information and, in some cases, trade secrets (as such term is defined in both the Defend Trade Secrets Act, 18 U.S.C. § 1836, et seq., and the North Carolina Trade Secrets Protection Act, N.C.G.S. § 66-152, et seq.) of the Company or (as applicable) others in the Collective Group.    
iii.At and for all times after the Separation Date, Executive agrees that Executive shall keep confidential and shall not, directly or indirectly, use, divulge, publish, or otherwise reveal or allow to be revealed any aspect of the Confidential Information to any 
									
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individual or entity, for any reason whatsoever, except only as required by law, without the Company’s prior, express, and written consent.
iv.Defend Trade Secrets Act Notice: Pursuant to 18 U.S.C. § 1833(b), an individual shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that (A) is made (i) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. Further, an individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding, if the individual (A) files any document containing the trade secret under seal; and (B) does not disclose the trade secret, except pursuant to court order.
v.Executive understands that except as set forth in Section 5(a)(iv) above, Executive may not use or disclose (or threaten to use or disclose) any of the Collective Group’s trade secrets without the Collective Group’s consent.  This obligation means, among other things, that Executive may not use the Collective Group’s trade secrets, whether directly or indirectly or on behalf of Executive or others, to attempt to call on, solicit, or obtain business from any actual or prospective client, customer, or business partner of the Company or any of the Collective Group, including without limitation any Customer (as such term is defined below), other than for authorized Collective Group business activities.  This prohibition applies during and after Executive’s employment, so long as the information remains a trade secret.  Executive agrees to take all reasonable steps to maintain the confidentiality of the Collective Group’s trade secrets and other Confidential Information.
vi.Executive acknowledges and understands that Executive has the right under federal law to certain protections for cooperating with or reporting legal violations to the Securities and Exchange Commission (the “SEC”) and/or its Office of the Whistleblower, as well as certain other governmental entities and self-regulatory organizations.  As such, Executive acknowledges and understands that nothing in this Agreement or otherwise prohibits or limits Executive from disclosing this Agreement to, or from cooperating with or reporting violations to or initiating communications with, the SEC or any other such governmental entity or self-regulatory organization, and Executive may do so without notifying the Company or any of the Collective Group.  Executive further acknowledges and understands that (a) neither the Company nor any of its subsidiaries or affiliates may retaliate against Executive for any of these activities, and nothing in this Agreement or otherwise requires Executive to waive any monetary award or other payment that Executive might become entitled to from the SEC or any other governmental entity or self-regulatory organization, and (b) nothing in this Agreement or otherwise prohibits Executive from notifying the Company or any of the Collective Group that Executive will make a report or disclosure to law enforcement.
(b)Covenant Not to Compete.  For a period of twenty-four (24) consecutive months beginning on the Separation Date, Executive shall not engage in the performance or attempted performance (whether for Executive’s own benefit or for, on behalf of, as an employee of, as an independent contractor of, or at the request of any other entity or individual) of any material activities performed in the course and scope of Executive’s duties for the Company during the Prior Period (as such term is defined below), in a manner or role that directly competes with, or directly and materially assists others in competing with, the business of the Company, which business includes without limitation the Services (as such term is defined below), as of the Separation Date (the “Restricted Activity”): (i) in the Restricted Territory (as such term is defined below); or (ii) for any Competitor (as such term is defined below), but only to the extent that such Restricted Activity is directed toward competing with the business of the 
									
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Company inside the United States of America, or directly and materially assists others in competing with the business of the Company inside the United States of America.
i.Executive understands and acknowledges that the Company’s business includes, without limitation, the provision of the Services for entities in a number of different industries, including but not limited to lenders in the residential mortgage industry.  Executive further understands and acknowledges that those entities who purchase Services from the Company, including without limitation leads, to the extent that those entities are themselves engaged in internal electronic and internet-based lead-generation activities to obtain prospective customers directly and not through the purchase of Services from the Company, are direct competitors of the Company with regard to the Services.  Therefore, to protect the Company’s legitimate business interests, Executive agrees that for a period of twenty-four (24) consecutive months beginning on the Separation Date, regardless of the reason for such cessation, Executive shall not engage in the Restricted Activity for any of the following entities:
(1)Any entity that purchased Services from the Company, including without limitation leads, at any time during the Prior Period; or
(2)Any residential mortgage lender that purchased Services from the Company, including without limitation leads, at any time during the Prior Period.
ii.For purposes of this Agreement, “Restricted Territory” means the largest territory which is described by one or more of the following subsections and is deemed enforceable by any court of competent jurisdiction, but only to the extent that Executive’s Restricted Activity is directed toward competing with the business of the Company inside the United States of America, or directly and materially assists others in competing with the business of the Company inside the United States of America:
(1)Any state, province, or similar political territory in any country;    
(2)Any state, province, or similar political territory in any country in which, as of the Separation Date, Executive worked in or was based during the Prior Period;   
(3)Any state, province, or similar political territory in any country in which Executive dealt with any Customer of the Company during the Prior Period in connection with Executive’s employment with the Company; or    
(4)North Carolina.
iii.For purposes of this Agreement, “Competitor” shall mean any entity that is engaged in any business, including without limitation the research, development, testing, design, publishing, marketing, promotion, licensing, application, sale, or distribution of electronic and internet-based lead-generation services, that directly competes with the business of the Company, as and to the extent that such business of the Company existed as of the Separation Date.  
iv.For purposes of this Agreement, “Prior Period” means the twelve (12) month period immediately preceding the Separation Date, including the Separation Date.  For the avoidance of doubt, all references in this Agreement to the Prior Period calling for a “look back” of twelve (12) months are intended solely to identify the individuals or entities to which the restrictions in such sections extend, and such references are not themselves intended to 
									
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nor shall they, under any circumstances, be construed to define the length or term of the respective period of any restriction on Executive’s activities. 
v.For purposes of this Agreement, “Services” means the Company’s research, development, testing, design, publishing, marketing, promotion, operation, licensing, application, and distribution of electronic and internet-based lead-generation services, as well as the sale of leads generated therefrom.
vi.For purposes of this Agreement, “Customer” means any entity that has purchased products or services from the Company, including without limitation any Services.  For the avoidance of doubt, the purchase of Services from the Company includes, without limitation, the purchase of any leads.

(c)Covenants not to Solicit.
i.For a period of twenty-four (24) consecutive months beginning on the Separation Date, Executive shall not solicit or induce, or attempt to solicit or induce, any entity or individual that is, or was at any time during the Prior Period, a Customer of the Company, for the purposes of performing or offering to perform, or selling or offering to sell, any products or services which compete with any product or service offered by the Company, including without limitation any of the Services, as of the Separation Date, whether individually, on behalf of another entity, as an employee or prospective employee, or as an independent contractor; but only as to those Customers with whom at any time during the Prior Period: (i) Executive had material contact or dealings regarding or concerning activities that were actually performed by Executive within the course and scope of Executive’s employment with the Company, or for whom Executive performed such activities; (ii) regarding whom Executive supervised, within the course and scope of Executive’s employment with the Company, any such direct material contact or dealings by an employee, associate, or agent of the Company or Executive; or (iii) concerning whom Executive had any material knowledge of Confidential Information regarding terms or details of such Customer’s business dealings or financial arrangements with the Company.   
ii.For a period of twenty-four (24) consecutive months beginning on the Separation Date (regardless of the reason for such cessation), Executive shall not:
(1)Solicit or induce, attempt to solicit or induce, or assist any other person or entity in soliciting, inducing, or attempting to solicit or induce any employee of the Company, LTI, or any of the Subsidiaries, or any individual who was employed by the Company, LTI, or any of the Subsidiaries at any time during the Prior Period, to become employed by an entity other than the Company, LTI, or any of the Subsidiaries or to cease his/her employment with the Company, LTI, or any of the Subsidiaries; or 
(2)Hire or employ, attempt to hire or employ, or assist in hiring or employing any employee of the Company, LTI, or any of the Subsidiaries, or any individual who was employed by the Company, LTI, or any of the Subsidiaries at any time during the Prior Period.
iii.For a period of twenty-four (24) consecutive months beginning on the Separation Date (regardless of the reason for such cessation, whether such cessation was with or without cause, voluntary or involuntary, or initiated by the Company or Executive), Executive 
									
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shall not solicit or induce, or attempt to solicit or induce, any independent contractor of the Company, LTI, or any of the Subsidiaries to cease its contractual relationship with the Company, LTI, or any of the Subsidiaries, to not continue or extend its contractual relationship with the Company, LTI, or any of the Subsidiaries, or to not seek, accept or perform work for or on behalf of the Company, LTI, or any of the Subsidiaries.
iv.For a period of twenty-four (24) consecutive months beginning on the Separation Date (regardless of the reason for such cessation), Executive shall not solicit or induce, or attempt to solicit or induce, any marketing partner of the Company to cease any contractual relationship with the Company, to discontinue or limit its relationship with the Company in any manner, to not continue supplying products or services to the Company or otherwise alter or discontinue its relationship with the Company, or to alter in any way the terms or conditions under which such products or services are provided to the Company.
v.For a period of twenty-four (24) consecutive months beginning on the Separation Date (regardless of the reason for such cessation), Executive shall not solicit or induce, or attempt to solicit or induce, any supplier or vendor of the Company to cease any contractual relationship with the Company, to discontinue or limit its relationship with the Company in any manner, to not continue supplying products or services to the Company or otherwise alter or discontinue its relationship with the Company, or to alter in any way the terms or conditions under which such products or services are provided to the Company.
(d)Tolling of Covenants and Severability.  For all restrictions and covenants set forth in this Section 5 containing a twenty-four (24)-month restriction (each, a “Restriction”), the twenty-four (24) month period of each such Restriction shall be tolled for any such Restriction, as permitted by law, and shall be increased with respect to such Restriction by and in the amount of any time during which Executive is in breach of such Restriction.   Executive agrees and acknowledges that each of the foregoing covenants set forth in this Section 5 above constitutes a separate, severable, and independently enforceable restrictive covenant.    
(e)Acknowledgement of Reasonableness.  Executive acknowledges that the restrictions and covenants contained in this Section 5: (i) are fair and necessary to protect the Company’s legitimate business interests; (ii) are narrowly tailored to protect such interests and so as not to offend public policy; (iii) are reasonable as to function and duration; and (iv) will not unduly restrict Executive’s ability to obtain employment or earn a living.  Executive further acknowledges that in connection with Executive’s employment with the Company, Executive has been exposed to Confidential Information and has had material interaction with employees and independent contractors of not only the Company, but of LTI and the Subsidiaries as well, such that the restrictions in this Section 5, inclusive, are reasonable, fair, and necessary for the protection of the legitimate business interests of the Company, LTI, and the Subsidiaries, all of which constitute legitimate business interests of the Company.   
(f)Each of the restrictive covenants contained in this Section 5 shall be considered to be a “restrictive covenant” as such term is used in and applies to the Plan.    
6.Confidentiality of Agreement.  Executive must keep this Agreement strictly confidential.  Executive shall not disclose, directly or indirectly (such as through anyone acting at the direction or on behalf of Executive), to any other persons or entities the existence of this Agreement, the contents or terms of this Agreement, or the monetary consideration paid by the Company Group pursuant to this Agreement, except that Executive may disclose such information to: (a) Executive’s spouse or registered domestic/civil union partner, and/or (b) Executive’s attorney or accountant (solely in order for such individuals to render personal services to Executive), and only so long as any such individual(s) agrees in advance of the disclosure to keep such information confidential.  In the event the prior agreement to be bound 
									
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by the terms of this confidentiality provision is not obtained from such individuals, then Executive will be deemed to have breached the confidentiality provision of this Agreement if Executive discloses such information.  Nothing in this Section or elsewhere in this Agreement is intended to prevent or prohibit Executive from:  (a) providing information regarding Executive’s former employment relationship with the Company or this Agreement, in the event required by law or lawful legal process; or (b) cooperating, participating or assisting in any investigation or proceeding conducted by a government entity or Regulators.  Should Executive be required by law, legal process, or subpoena to provide information related to his employment with the Company, and only as permitted by law, Executive shall, in advance of providing any response, and within three (3) calendar days of his receipt of notice of such law, legal process or subpoena, provide written notice to the Company’s Chief Human Resources Officer via certified/registered U.S. Mail or via email, so that the Company and/or the Releasees may seek to assert its or their rights and interests in connection therewith.
7.References.  Executive shall direct any inquiries by potential future employers or persons/entities seeking references to the Company’s Human Resources Department, which shall communicate only Executive’s fact of employment, last position, and dates of employment. 
8.Acknowledgment of Receipt of Wages Due.  Executive understands and agrees that Executive has been paid any and all wages due and owing by the Company Group through the Separation Date, and that the payment of any wages concededly due and owed is not in any way conditioned upon Executive signing this Agreement.  This Agreement includes a compromise of any potential bona fide and good faith dispute regarding claimed wages by Executive and by signing this Agreement, Executive acknowledges and agrees that with respect to any potential claim for wages by Executive, the Company Group and other Releasees have defenses, based in law or fact that, if successful would preclude any recovery on the part of Executive. 
9.No Voluntary Cooperation in Third Party Claims.  Executive agrees that Executive will not voluntarily cooperate, directly or indirectly (such as through anyone acting at the direction or on behalf of Executive, including without limitation Executive’s spouse), with any third party, including without limitation any former employee of the Company Group, in any actual or threatened lawsuit of any nature whatsoever against the Company Group, except as required by law or by any government agency.  Nothing in this provision shall be construed as preventing Executive from providing complete and truthful testimony in connection with any formal legal proceeding (e.g., a deposition or testimony in court or arbitration).
10.No Pending Actions.  Executive represents and certifies that neither Executive nor any person, agent, or entity acting on Executive’s behalf has filed or instituted any complaints, lawsuits, actions, claims, administrative charges, grievances, and/or proceedings against the Company Group or any of the Releasees, in any forum, and to the extent any such claims, charges, complaints have been filed or instituted on behalf of Executive, Executive agrees to dismiss such claims, complaints, charges with prejudice.  The dismissal with prejudice of any such pending claims, complaints, or charges shall be a condition precedent to Company Group’s obligation to provide the severance payments and benefits to the Executive under this Agreement. 
11.Cooperation.  If the Company Group so requests, then Executive will cooperate with the Company Group about any legal matter, including matters that started after Executive leaves the Company Group.  Executive agrees to provide the Company Group with cooperation and reasonable assistance in the preparation, defense, or prosecution of any legal matters involving the Company Group about which Executive has personal knowledge, including any matters which may be filed after the Separation Date.  Executive agrees that the consideration in Section 2 is compensation in full for such cooperation or assistance.  Executive acknowledges 
									
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that Executive will not receive any pay for time spent testifying as a witness or in other circumstances where applicable law may otherwise prohibit compensation. 
12.ADEA Waiver; Consideration & Revocation Periods; Effective Date.  Executive acknowledges that Executive is waiving and releasing any claims that Executive may have under the ADEA against Releasees, and Executive represents that this waiver and release is knowing and voluntary.
(a)Consideration Period.  Executive has twenty-one (21) calendar days after the date Executive received this Agreement (the “Consideration Period”) in order (i) to read and consider it; (ii) to consult with an attorney of Executive’s own choosing (and cost) regarding whether Executive should sign this Agreement, which consultation the Company Group hereby advises Executive to undertake; and (iii) to sign this Agreement if that is what Executive decides to do; provided, however, that Executive may not sign this Agreement prior to the Separation Date.  In the event Executive signs this Agreement on or after the Separation Date, but before expiration of the Consideration Period, Executive hereby acknowledges that Executive has freely and voluntarily chosen to waive the remainder of the Consideration Period.
(b)Revocation Period.  If Executive timely signed this Agreement during the Consideration Period, Executive can change his mind about having signed the Agreement during the seven (7) days after the date Executive signed the Agreement (“Revocation Period”).  If Executive changes his mind in this regard, Executive must deliver notice to the Company Group of the revocation by midnight on the seventh day to LendingTree, Inc., Attn: Chief Human Resources Officer, 1415 Vantage Park Drive, Suite 700, Charlotte, NC  28203.  
(c)Effective Date.  The “Effective Date” of the Agreement will be the eighth (8th) day after the date Executive timely signed the Agreement, provided that Executive returned Executive’s signed Agreement to the Company Group and did not timely revoke the Agreement during the Revocation Period.
13.Non-Disparagement.  Executive further acknowledges and agrees that following the execution of this Agreement, Executive will not make any negative, derogatory, defamatory, slanderous, or disparaging comments, references, or characterizations, either verbally or in writing, regarding any of the Releasees, including without limitation the services, products, business models, personnel, officers, affiliates, management, and financial status of the Company Group, to any of the following: former or existing employees of the Company Group, customers or business partners of the Company Group, the media, the general public, on the Internet, or any other entity, for any purpose whatsoever, unless a legal duty to do so is imposed.  Notwithstanding the foregoing, nothing in this Agreement is intended to prohibit or shall prohibit Executive from engaging in any conduct set forth in Section 4 above, or otherwise providing truthful information or testimony in connection with any legal or regulatory investigation or proceeding.  Executive agrees that in the event of any breach or threatened breach of this Section 13, the Company Group (in addition to any other remedies at law or in equity it may have) shall be entitled, without the requirement of posting a bond or other security, to equitable relief, including without limitation injunctive relief and specific performance.
14.General Terms.
(a)Nothing contained in this Agreement shall constitute or be treated as an admission by Executive or by Company Group or the Releasees of any liability, or any wrongdoing, or of any violation of law.
(b)The Company Group advises Executive to consult with an attorney of Executive’s own choosing before signing this Agreement.
									
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(c)The Executive and the Company Group shall each bear their own respective costs and fees and expenses incurred in connection with the review and signing of this Agreement.
(d)The Company Group reserves the right after receiving the signed Agreement from Executive to reject it and decline to accept it in the event it is untimely or if it has been modified in any way by Executive.  In the event the Agreement is rejected and not accepted by the Company Group, it will be void and unenforceable.
(e)Executive and the Company Group intend that this Agreement be construed to give the Releasees the full benefit of the waiver and release provisions.  Should any provision of this Agreement be determined by an arbitrator or a court of competent jurisdiction to be wholly or partially invalid or unenforceable, such provision(s) shall be modified to comply with current applicable law.  In addition, if any one or more provisions contained in this Agreement shall be held to be excessively broad as to duration, geographical scope, activity, subject, or otherwise, it shall be construed by limiting or reducing it, so as to be enforceable with applicable law.  If any provision(s) cannot be modified to comply with current applicable law, such provision(s) shall be severed and the enforceability of the remaining parts, terms, or provisions shall remain in full force and effect.
(f)Except as specified below, this Agreement and the Plan supersede any and all other agreements or understandings, whether oral, implied, or in writing, between the Parties with respect to the subject matter hereof and contain all of the covenants and agreements between the Parties with respect to such matters in their entirety; provided, however, Executive’s post-employment obligations under the Employment Agreement between the Parties dated January 2, 2018 (the “Employment Agreement,” which Employment Agreement expired on October 22, 2021), Exhibit A attached thereto, the Confidentiality, Work-Product and Restrictive Covenant Agreement between the Parties of even date therewith, and any other written agreement(s) between Executive and any of the Company Group relating to the protection of any of the Company Group’s confidentiality, proprietary information, intellectual property, or trade secrets, shall remain in full force and effect.  Except as set forth herein, this Agreement shall constitute the full, complete, and exclusive agreement between Executive and the Company Group regarding all of the subject matter covered by this Agreement, and neither the Executive nor the Company Group is relying on any representation or promise that is not expressly stated in this Agreement.
(g)This Agreement may only be amended by a written agreement signed by Executive and an Officer of the Company Group. 
(h)The rights and remedies of the Company Group in this Agreement shall be deemed cumulative, and the exercise of one of such remedies shall not operate to bar the exercise of any other rights and remedies reserved to the Company Group or available at law or in equity.  The failure of the Company Group to insist upon strict adherence to any term of this Agreement on any occasion shall not be considered a waiver thereof, or deprive the Company Group of the right thereafter to insist upon strict adherence to that term or any other term of this Agreement.  Any waiver must be in writing, and no waiver of any breach of any provision of this Agreement shall constitute a continuing waiver, a waiver of any other breach of that provision, or a waiver of any other provision hereof.   Additionally, no delay or failure by the Company Group to exercise any right under this Agreement, and no partial or single exercise of such right, shall constitute a waiver of that or any other right.
(i)This Agreement and all rights hereunder shall be governed by and construed in accordance with the terms of the Plan and the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) and, to the extent not preempted by ERISA or 
									
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otherwise governed by federal law, the laws of the State of North Carolina, without regard to the conflicts of laws provisions thereof.  The Parties agree that any rule of construction of contracts resolving any ambiguities against the drafting party shall be inapplicable to this Agreement.  In addition, and to the extent permitted by applicable law, the Parties irrevocably waive any right to a trial by jury in any such action related to this Agreement.  
(j)This Agreement may be signed in counterparts.  The Parties hereby expressly agree, pursuant to Article 40 of Chapter 66 of the North Carolina General Statutes, that either or both of the Parties may execute this Agreement using an electronic signature (as such term is defined in that statute).  If and to the extent that separate signature pages are signed by the Parties, each separate signature page shall be affixed to this Agreement and shall constitute one (1) Agreement binding on the Parties, notwithstanding that the signatories are not signing the same page.  Facsimile transmissions (including transmission by e-mail in PDF format) of any executed original document shall be deemed the same as a delivered, executed original.  Each Party agrees that the electronic signatures, whether digital or encrypted, of the Parties included in this Agreement are intended to authenticate this writing and to have the same force and effect as manual signatures.  
(k)Executive acknowledges that the services rendered by Executive during the course of Executive’s employment were of a special, unique, and extraordinary character, and a breach by Executive of any provision of this Agreement will cause irreparable injury and damage to the Company Group for which money damages alone would be an inadequate and insufficient remedy.  Therefore, the Company Group shall be entitled to any and all available remedies, including but not limited to injunctive and equitable relief, without the requirement of posting a bond or other security, in order to prevent a breach of this Agreement, or any part of this Agreement, or to secure its enforcement.  
(l)The Company and (as applicable) LTI may each assign their rights and obligations under this Agreement to any successor to all or substantially all the assets of the Company and/or (as applicable) LTI by merger, sale of assets, or otherwise, and all such rights shall inure to and be enforceable by any such assignee to the fullest extent permitted by applicable law.  Executive is not permitted to assign or encumber this Agreement, voluntarily or involuntarily, and any such purported assignment shall be void ab initio.  This Agreement shall be binding upon the heirs, executors, administrators, and other legal representatives and assigns of Executive.
(m)Executive, by signing this Agreement, acknowledges that Executive has had a full and fair opportunity to review, consider and negotiate the terms of this Agreement, has been advised to seek the advice of an attorney in connection with the decision whether to accept the benefits that have been offered under this Agreement, has had a reasonable period of time to consider whether to enter this Agreement, has reviewed this Agreement with advisors of Executive’s choice, has read and understands this Agreement, and has signed this Agreement freely and voluntarily, without duress, coercion or undue influence and with full and free understanding of its terms. 
I HAVE READ THIS AGREEMENT AND UNDERSTAND IT.  I RECOGNIZE THAT I AM GIVING UP IMPORTANT RIGHTS AND THAT AT NO TIME IN THE FUTURE 
									
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MAY I PURSUE ANY OF THE RIGHTS I HAVE WAIVED AND RELEASED IN THIS AGREEMENT.

						
	Dated: __ _February 1______, 2022	/s/ NEIL SALVAGE
		Neil Salvage
	

Dated: ___February 28_____, 2022
	

LENDINGTREE, INC.

		Jill Olmstead
		Name
		Chief Human Resources Officer
		Title
		/s/ JILL OLMSTEAD
		Signature

						
	

Dated: ___February 28______, 2022
	

LENDINGTREE, LLC

		Jill Olmstead
		Name
		Chief Human Resources Officer
		Title
		/s/ JILL OLMSTEAD
		Signature

									
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