Document:

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                                                CONFIDENTIAL TREATMENT REQUESTED
                                     UNDER 17 C.F.R. SECTIONS 200.83 AND 230.496

EXHIBIT 10.1

                 September 13, 2001 (as amended September 17, 2001)

Mr. Patrick J. Spain
[*]
[*]

RE:  Resignation of Your Executive Duties; Implementation and Amendment of
     the Employment Agreement between Hoover's, Inc. (the "Company") and
     Patrick J. Spain ("you" or the "Executive") dated May 3, 2001 (the
     "Employment Agreement") [Capitalized terms not otherwise defined herein
     shall be defined as set forth in the Employment Agreement]

Dear Patrick:

     This Letter Agreement (the "Letter Agreement") will confirm our
understandings with respect to (i) your resignation from executive duties
with the Company by mutual agreement, (ii) our respective rights and
obligations which shall remain in full force and effect as set forth in your
Employment Agreement, subject to the amendment and modifications provided
herein, (iii) the amendment and implementation of the Employment Agreement in
certain respects, and (iv) your continuing service as Chairman of the Board
of Directors of, and as a consultant employed by, the Company.  Specifically,
we agree to the following:

     1.   RESIGNATION OF EXECUTIVE.  Subject to the terms and conditions
          hereof, as of September 13, 2001, you have resigned your duties as
          an executive with the Company.  While such resignation is pursuant
          to mutual agreement between you and the Company, for purposes of
          the Employment Agreement, except as set forth below, you will be
          treated as though you had terminated your employment for Good
          Reason pursuant to Section 7(d) of the Employment Agreement.

     2.   CONTINUING RELATIONSHIP.  You will continue to serve as Chairman of
          the Board of Directors until the first to occur of your termination
          of service on the Board, due removal by the Board from such office
          or death.  You will continue to serve as a member of the Company's
          Board of Directors until the first to occur of your resignation,
          due removal or death.  Your duties as Chairman of the Board shall
          be to preside over meetings of the Company's Board of Directors and
          stockholders and to perform such additional duties as the Board may
          delegate to you from time to time.  In addition you will continue
          to be employed by the Company as a consultant to provide specific
          editorial services for a period beginning on the date of this Letter
          Agreement and continuing through October 10, 2002, performing such

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[*] Indicates that material has been omitted and confidential treatment
requested therefor. All such material has been filed separately with the
Commission pursuant to Rule 406.

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                                                CONFIDENTIAL TREATMENT REQUESTED
                                     UNDER 17 C.F.R. SECTIONS 200.83 AND 230.496

          consulting and editorial duties as shall be reasonably requested by
          the Company from time to time.  Such duties may be performed by you
          either in Austin, Texas or such other location as you shall
          determine, and on such schedule as shall be consistent with your
          other business and personal activities (and whether or not such
          other activities are in behalf of the Company).  Except to the
          extent set forth above, you will not have any ongoing employment
          duties or responsibilities to the Company.

     3.   COMPENSATION AND BENEFITS.  You will be entitled to receive
          compensation and benefits in accordance with Sections 7(h), 9(b)
          and 5 of the Employment Agreement, and as set forth on EXHIBIT A
          attached hereto.  In the event that you die prior to receipt of
          full payment or provision of any compensation or benefits due under
          this Agreement or the Employment Agreement, the unpaid or unprovided
          installments shall be paid to your wife, if living, and otherwise
          to the executor or administrator of your estate.  You understand
          and agree that the Company will withhold federal, state and local
          income taxes, if any, from the installment payments due hereunder,
          as applicable, as well as any other amounts required by law.

     4.   STOCK OPTIONS.  You have been eligible to participate in the
          Company's stock option plans.  The Company has granted you stock
          options as detailed on EXHIBIT A to the Employment Agreement,
          restated as EXHIBIT B hereto (collectively, the "Options"),
          together with a grant of 50,000 options as of May 22, 2001, vesting
          quarterly over four years, at an exercise price of $3.40 per share
          (the "May 2001 Grant").  The terms and conditions of your Options
          shall be as set forth in the respective stock option agreements
          between you and the Company, as they may have been amended by the
          Employment Agreement and this Letter Agreement.  In consideration
          of the compensation and benefits provided under this Letter
          Agreement, you release all rights in the May 2001 Grant, and the
          options granted thereby will be cancelled.  The parties acknowledge
          and agree that Executive's Option to acquire 100,000 shares granted
          on December 21, 2000, vesting over a period of three (3) years at
          an exercise price of $1.5625 per share, will be amended to provide
          that any unvested portion of such option will fully vest as of the
          date of this Letter Agreement.  The parties acknowledge and agree
          that Executive's Options to acquire 82,500 shares granted on May 9,
          1997 at an exercise price of $3.67 per share and to acquire 75,000
          shares granted on June 24, 1998 at an exercise price of $4.33 per
          share, each of which are fully vested, are hereby amended to
          provide that Executive will have a period equal to the lesser of
          two years or the balance of time remaining prior to the expiration
          of such Option in which to exercise such Option following the
          termination of Executive's service as a member of the Company's
          Board of Directors.  The parties acknowledge and agree that
          Executive's Options to acquire 9,750 shares granted to Executive on
          October 28, 1992, 75,000 shares granted on February 3, 1993,
          105,000 shares granted on June 27, 1995 (all at an

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[*] Indicates that material has been omitted and confidential treatment
requested therefor. All such material has been filed separately with the
Commission pursuant to Rule 406.

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                                                CONFIDENTIAL TREATMENT REQUESTED
                                     UNDER 17 C.F.R. SECTIONS 200.83 AND 230.496

          exercise price of $1.00 per share) and Executive's Option to
          acquire 40,950 shares granted on June 3, 1996 at an exercise price
          of $2.00 per share (collectively, the "1992-1996 Options") each of
          which are fully vested, are hereby amended to provide that
          Executive will have a period equal to the lesser of two years
          following the termination of Executive's service as a member of the
          Company's Board of Directors, or the balance of time remaining
          prior to the expiration of such Option in which to exercise such
          Option.  The Company acknowledges and agrees that all other options
          are fully vested as of the date hereof, with the exception of the
          May 2001 Grant that is being cancelled hereby.  You will have the
          right to exercise the Options as provided in the stock option
          agreements and Exhibit B to this Letter Agreement.  In the event of
          any inconsistency between this Letter Agreement, the Employment
          Agreement and the stock option agreement relating to any Option,
          this Letter Agreement shall control and such stock option
          agreements and the Employment Agreement are deemed amended.  The
          Company will execute amendments to the stock options agreements
          representing Options that have been amended consistent with the
          terms as set forth herein, such amendments to be executed prior to
          September 28, 2001.

     5.   CONFIDENTIALITY AND PROPRIETARY INFORMATION.  You acknowledge that
          your obligations under Section 6 of the Employment Agreement shall
          survive this Letter Agreement and the termination of your
          employment by the Company.  Such terms are incorporated herein by
          reference and shall apply hereto as if fully rewritten herein.

     6.   NONCOMPETITION PROVISIONS.  You acknowledge that Section 8 of the
          Employment Agreement shall survive this Agreement.  Section 8 of
          the Employment Agreement is amended to provide that the
          "Non-Compete Period" shall expire October 10, 2002.  Such terms are
          incorporated herein by reference and shall apply hereto as if fully
          rewritten herein.

     7.   PUBLIC ANNOUNCEMENTS.  You and the Company agree to the
          distribution of a press release, as set forth in EXHIBIT C attached
          hereto.  Should it be deemed necessary by the Company to disclose
          any information relating to this Letter Agreement pursuant to any
          government regulations, the Company agrees that you will be
          afforded the opportunity to review and comment upon any proposed
          disclosure referring to you or this Letter Agreement as soon as
          practicable prior to the date of such proposed disclosure.  Except
          as provided above, no press releases, of any nature relating to
          your employment with the Company, shall be made by either party
          hereto without approval of the other party.

     8.   INDEMNIFICATION.  The Company confirms and agrees that, subject to
          the terms therein set forth, you will be entitled to the continuing
          benefits of indemnification by the Company for actions taken as a
          Director and

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[*] Indicates that material has been omitted and confidential treatment
requested therefor. All such material has been filed separately with the
Commission pursuant to Rule 406.

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                                                CONFIDENTIAL TREATMENT REQUESTED
                                     UNDER 17 C.F.R. SECTIONS 200.83 AND 230.496

          officer of the Company, as provided by Article 11.7 of the Company's
          Amended and Restated Bylaws, and the limitation on your liability for
          such actions as set forth in Article III, Section 14 of the Company's
          Amended and Restated Certificate of Incorporation.

     9.   COMPANY RELEASE.  In exchange for your undertakings in this Letter
          Agreement, the Company on its own behalf, and on behalf of its
          subsidiaries, affiliates, predecessors, successors and assigns, and
          their respective shareholders, directors, officers, agents,
          attorneys, employees, releases and forever discharges you, your
          heirs, executors, dependents, beneficiaries, estate, successors and
          assigns (collectively, "Executive's Releasees") of and from any and
          all claims, demands, actions or causes of action, damages or suits
          at law or equity, of whatsoever kind or nature, including, but not
          limited to, all claims and/or demands relating to or arising out of
          the Employment Agreement and/or your employment by the Company;
          provided, however, that such release and discharge shall not apply
          to, release or discharge, any of your obligations under this Letter
          Agreement or your obligations under the Employment Agreement, as
          amended by this Letter Agreement, to the extent your obligations
          under the Employment Agreement are required to be performed or
          observed after the date of this Letter Agreement.

     10.  EXECUTIVE RELEASE.  In exchange for the undertakings of the Company
          set forth in this Letter Agreement, you, for yourself and your
          heirs, executors, dependents, beneficiaries, estate, successors,
          and assigns, release and forever discharge the Company, its
          subsidiaries, divisions, and affiliated businesses, if any,
          together with its and their respective officers, directors,
          shareholders, agents, employees, representatives, and attorneys
          (collectively, "the Company Releasees") of and from any and all
          claims, demands, actions or causes of action, damages or suits at
          law or equity, of whatsoever kind or nature, including, but not
          limited to, all claims and/or demands (i) relating to or arising
          out of the Employment Agreement, your employment by the Company,
          and/or the termination thereof; (ii) claims for compensation in the
          nature of wages, salary, bonuses, commissions, director fees,
          travel and car allowances, fringe benefits, vacation pay, severance
          pay, back pay, business expense or rehire arising or accrued
          through the date of this Letter Agreement (iii) claims and causes
          of actions for age discrimination, claims under any federal, state
          or local law, statute or regulation dealing with employment, breach
          of contract, promissory estoppel, and demands for attorney's fees
          and legal expenses, that you have or may have by reason of any
          matter or thing arising out of, or any way connected with, directly
          or indirectly, any act and/or omission that has occurred prior to
          the date of this Letter Agreement; provided, however, that such
          release and discharge shall not apply to, release or discharge (i)
          any of the Company's obligations under this Letter Agreement, (ii)
          any of the Company's obligations to indemnify, defend or

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requested therefor. All such material has been filed separately with the
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                                                CONFIDENTIAL TREATMENT REQUESTED
                                     UNDER 17 C.F.R. SECTIONS 200.83 AND 230.496

          hold you harmless to the extent such obligations exist under the
          Company's Certificate of Incorporation, Bylaws, any other agreement
          or as a matter of law, or (iii) any of the Company's obligations
          under the Employment Agreement, as amended by this Letter
          Agreement, to the extent the Company's obligations under the
          Employment Agreement are required to be performed or observed after
          the date of the Letter Agreement; and (iv) any of the Options
          (and/or any agreements relating to the Options), as each of the
          same may have been amended, to the extent the Company's obligations
          under the Options (or related agreements) are required to be
          performed and observed after the date of this Letter Agreement.

     11.  ADEA.  You recognize and agree that, by executing this Letter
          Agreement, you are releasing the Company Releasees from any and all
          claims that you now have, or may have, under the federal Age
          Discrimination in Employment Act of 1967, 29 U.S.C. 621, et seq. as
          amended ("ADEA"), by reason of any matter or thing arising out of,
          or in any way connected with, directly or indirectly, any acts or
          omissions which have occurred prior to and including the date of
          this Letter Agreement.

     12.  "CONSIDERATION PERIOD."  The Company hereby notifies Executive of
          his right to consult with his chosen legal counsel before signing
          this Letter Agreement.  The Company shall afford not less than
          twenty-one (21) calendar days in which to consider this Letter
          Agreement to insure that his execution of this Letter Agreement is
          knowing and voluntary.

     13.  "REVOCATION PERIOD"; ADEA.  Both you and the Company agree and
          recognize that, for a period of twenty-eight (28) calendar days
          following your execution of this Letter Agreement, you may revoke
          this Letter Agreement as to your release of ADEA claims by
          providing written notice revoking the same, within the twenty-eight
          (28) day period, to General Counsel, Hoover's, Inc., 5800 Airport
          Boulevard, Austin, Texas 78752.

     14.  MUTUAL NONDISCLOSURE OF LETTER AGREEMENT.  You and your heirs,
          executors, successors, assigns, representatives, and attorneys and
          the Company, its subsidiaries, affiliates, predecessors, successors
          and assigns, and their respective shareholders, directors,
          officers, agents, attorneys, employees shall hold the terms of this
          Letter Agreement in strict confidence and shall not communicate,
          reveal, or disclose the terms of this Letter Agreement to any other
          persons except as required by law or regulation and to your
          immediate family, legal counsel, tax consultants, prospective
          lenders, and others with whom you do business and who may require
          such information, and to those employees, directors, officers,
          agents and attorneys of the Company who have reason to be aware of
          the terms hereof for the purposes of executing certain of the
          agreements

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[*] Indicates that material has been omitted and confidential treatment
requested therefor. All such material has been filed separately with the
Commission pursuant to Rule 406.

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                                                CONFIDENTIAL TREATMENT REQUESTED
                                     UNDER 17 C.F.R. SECTIONS 200.83 AND 230.496

          contained herein, all of whom shall be instructed by you and/or the
          Company similarly to hold the terms of this Letter Agreement in the
          strictest confidence, and as otherwise required by law.

     15.  INVALIDITY.  The parties to this Letter Agreement agree that the
          invalidity or unenforceability of any one (1) provision or part of
          this Letter Agreement shall not render any other provision(s) or
          part(s) hereof invalid or unenforceable and that such other
          provision(s) or part(s) shall remain in full force and effect.

     16.  COSTS AND ATTORNEY FEES.  Each party shall be responsible for his
          or its separate costs, expenses, attorneys' fees or otherwise.

     17.  APPLICABLE PROVISIONS OF EMPLOYMENT AGREEMENT; MODIFICATION.  The
          parties acknowledge that the terms of Sections 10
          (Nontransferability), 11 (Waiver), 12 (Notice), 13 (Governing Law;
          Forum for Disputes; Expenses), 15 (Modification), 16 (Binding
          Effect), and 17 (Legal Consultation) of the Employment Agreement
          shall apply hereto as if fully rewritten herein.  The parties
          further acknowledge that, except as may be specifically waived or
          modified in this Letter Agreement, the Employment Agreement shall
          remain in full force and effect in accordance with its terms.

     18.  ENTIRE AGREEMENT.  This Letter Agreement, together with the
          Employment Agreement as modified, implemented and continued by this
          Letter Agreement, contain the entire agreement between the parties
          hereto, and there are no understandings between the parties other
          than those specifically and expressly set forth therein.  Neither
          this Letter Agreement nor the Employment Agreement shall be further
          amended or modified in any manner except upon written agreement by
          both parties.

Very truly yours,

Hoover's, Inc.

By: ______/s/___________
  Kris Rao,
  Vice President and
    General Counsel

Acknowledged and Accepted:

EXECUTIVE

_________/s/_________
Patrick J. Spain

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requested therefor. All such material has been filed separately with the
Commission pursuant to Rule 406.

<Page>

                                                CONFIDENTIAL TREATMENT REQUESTED
                                     UNDER 17 C.F.R. SECTIONS 200.83 AND 230.496

                                   EXHIBIT A

                            COMPENSATION AND BENEFITS

1.  PAYMENTS.  Promptly following execution of this Letter Agreement,
Executive will be paid all salary accrued under the Employment Agreement
through the date of this Letter Agreement.  The parties agree that, in full
satisfaction of its obligations under Section 7(h)(i) and Section 5 of the
Employment Agreement, the Company will pay to Executive the sum of $325,000 in
the following installments twice per month over the thirteen (13) month period
beginning September 11, 2001 and ending October 10, 2002:  $11,500
attributable to the severance obligation in Section 7(h)(i); and (ii) $1,000
attributable to Executive's employment as a consultant to the Company, as
described in Section 2 above.
--------------------------------------------------------------------------------
2.  OPTIONS LOANS.  In consideration of the extension of the period in which
Executive is provided to exercise the 1992-1996 Options as provided in Section
4, Executive will hereby forfeit any and all rights to receive loans to
exercise the 1992-1996 Options provided pursuant to Section 9(b)b of the
Employment Agreement, effective as of the execution of the Letter Agreement.
--------------------------------------------------------------------------------
3.  BENEFITS.  Promptly following execution of this Letter Agreement, the
Company will pay Executive for any currently unreimbursed expenses and accrued
vacation, and will continue medical, dental, disability and life insurance
coverage through October 10, 2002 (or pay the costs of continuing coverage
under COBRA if Executive becomes ineligible to participate during this
period), unless  Executive receives these benefits from a subsequent employer
in the interim, all in accordance with the Employment Agreement.
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4.  [*]
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5.  [*]
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6.  [*]
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7.  [*]
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[*] Indicates that material has been omitted and confidential treatment
requested therefor. All such material has been filed separately with the
Commission pursuant to Rule 406.

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                                                CONFIDENTIAL TREATMENT REQUESTED
                                     UNDER 17 C.F.R. SECTIONS 200.83 AND 230.496

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8.  [*]
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[*] Indicates that material has been omitted and confidential treatment
requested therefor. All such material has been filed separately with the
Commission pursuant to Rule 406.

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                                                CONFIDENTIAL TREATMENT REQUESTED
                                     UNDER 17 C.F.R. SECTIONS 200.83 AND 230.496

                                   EXHIBIT B

                                OPTION HOLDINGS

<Table>
<Caption>
----------------------------------------------------------------------------------
    Grant Date      Number      Exercise Price        Percent         Time to
                                                   Vested as of      Exercise
                                                      9/11/01
----------------------------------------------------------------------------------
   <S>             <C>          <C>                <C>               <C>
     10/28/92        9,750           $1.00              100%            (1)
----------------------------------------------------------------------------------
     02/03/93       75,000           $1.00              100%            (1)
----------------------------------------------------------------------------------
     06/27/95      105,000           $1.00              100%            (1)
----------------------------------------------------------------------------------
     06/03/96       40,950           $2.00              100%            (1)
----------------------------------------------------------------------------------
     05/09/97       82,500           $3.67              100%            (2)
----------------------------------------------------------------------------------
     06/24/98       75,000           $4.33              100%            (2)
----------------------------------------------------------------------------------
     06/08/99      112,500          $14.00              100%            (3)
----------------------------------------------------------------------------------
     06/05/00      100,000         $7.4375              100%            (3)
----------------------------------------------------------------------------------
     12/21/00      100,000         $1.5625              25%*            (4)
----------------------------------------------------------------------------------
     5/22/01**      50,000           $3.40              6.25%
----------------------------------------------------------------------------------
</Table>

           ALL OPTIONS EXPIRE TEN (10) YEARS FROM THE DATE OF GRANT.

     (1) Following amendment as provided in Section 4 set forth herein, Options
         must be exercised within the lesser of two (2) years following
         Executive's ceasing to serve as a member of the Company's Board of
         Directors; or the expiration of such Option(s).

     (2) Following amendment as provided in Section 4 set forth herein, Options
         must be exercised within two years of Executive's ceasing to serve as
         a member of the Company's Board of Directors.

     (3) Options must be exercised within two (2) years of Executive's ceasing
         to serve as a member of the Company's Board of Directors.

     (4) Options must be exercised within ninety (90) days of Executive's
         ceasing to serve as a member of the Company's Board of Directors.

* Options will be accelerated to vest 100% upon execution of this letter
agreement, as set forth in Section 4.

**Options being cancelled pursuant to this letter agreement.

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[*] Indicates that material has been omitted and confidential treatment
requested therefor. All such material has been filed separately with the
Commission pursuant to Rule 406.

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                                                CONFIDENTIAL TREATMENT REQUESTED
                                     UNDER 17 C.F.R. SECTIONS 200.83 AND 230.496

                                   EXHIBIT C

                            PUBLIC COMMUNICATIONS

        HOOVER'S ANNOUNCES RESULTS OF 2001 ANNUAL SHAREHOLDERS' MEETING

    AOL TIME WARNER'S BUSINESS 2.0 PRESIDENT NED DESMOND ELECTED TO HOOVER'S
                               BOARD OF DIRECTORS

FOR IMMEDIATE RELEASE

AUSTIN, TEXAS - September 14, 2001 - Hoover's, Inc. (Nasdaq: HOOV), a leading
provider of online business information, tools, and content integration
technology, today announced results of its annual shareholders meeting, held
on September 11.  Edward W. (Ned) Desmond was elected by Hoover's shareholders
to serve as a new member of the board of directors, and Thomas J. Hillman and
Jeffrey R. Tarr were re-elected as board members, each within Class I of the
company's board of directors.  In addition, Patrick J. Spain has been
re-elected by the board as its chairman.  Mr. Spain has served as chairman of
the board since 1994.  Mr. Spain also announced that he is resigning from his
operational role as full time executive chairman effective as of October 10,
2001, but will continue to serve as Hoover's chairman of the board in a
non-executive capacity.  Spain will also continue to be available to consult
with the company on an as-needed basis.

Mr. Desmond is the president and editor of BUSINESS 2.0, an AOL Time Warner
magazine that covers the digital economy.  AOL Time Warner (NYSE:AOL) is
Hoover's largest shareholder.  Desmond was previously employed by Infoseek
Corporation as a senior executive and an editor.  Additionally, Mr. Desmond
was a senior writer and contributing editor for FORTUNE magazine, after
spending 12 years as a journalist for TIME magazine, including positions as
bureau chief in New Delhi and Tokyo.

"Ned brings with him vast knowledge and expertise and I would like to
personally welcome him to the team," said Patrick Spain.  "His leadership
roles at various business publications and distinguished career as a
journalist will bring us a unique perspective combining both management of a
media enterprise and editorial expertise."

"I am honored to have been elected to the Hoover's board of directors and  am
proud to be a part of a company with such a well-established brand name and
strong reputation," stated Desmond.

Tarr, who has served as chief executive officer and president of Hoover's
since May 2001 and has been a director since June 2001, said, "I appreciate
the shareholders confirming the board's vote of confidence in me and am
excited to lead as both CEO and

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requested therefor. All such material has been filed separately with the
Commission pursuant to Rule 406.

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                                                CONFIDENTIAL TREATMENT REQUESTED
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as a board member.  Hoover's has a wealth of talent across the organization
and I look forward to continuing to build Hoover's into a premier business
information provider."

Hillman is an entrepreneur across a broad range of industries and is a
principal of Hillman Consulting, which provides management consulting services
with an emphasis on strategic planning, organizational development, and
corporate finance.  He joined the Hoover's board in 1992.  "I look forward to
continuing to contribute to the success of Hoover's," said Hillman.

Spain, a co-founder of the company, served as CEO for more than eight years
until May 2001, and has served as chairman of the board since 1994.  During
Spain's tenure as CEO, the company transformed itself from a small reference
book publisher to a premier online business information company reaching
millions of businesspeople worldwide.  Spain led the company's initial public
offering in July 1999 and helped deliver EBITDA profitability during the
quarter ended June 30, 2001, his last quarter as CEO.

"It's been a pleasure and an honor to have served as the leader of our fine
company," said Spain.  "My thanks goes out to the shareholders, directors, and
employees of the company without whom we would not have been able to create
this unique and wonderful organization.  I look forward to continuing to serve
as chairman of the board."

About Hoover's, Inc.

Hoover's, Inc. (Nasdaq: HOOV) provides online business information, tools to
help businesspeople get their jobs done. Hoover's information is available
through its destination sites Hoover's Online (HTTP://WWW.HOOVERS.COM) and the
company's other sites in France, Germany, Italy, Spain and the U.K., through
syndication and co-branding agreements with other online services, and through
customized applications developed for enterprise information portals,
corporate intranets and business-to-business vertical and content sites.
Hoover's investors include AOL Time Warner (NYSE: AOL), Media General (AMEX:
MEG.A), and Knowledge Universe, through its Knowledge Net Holdings and Nextera
Enterprises (Nasdaq: NXRA) units. Hoover's is headquartered in Austin, Texas,
and has offices in London, New York City and San Francisco.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995:  This press release may contain forward-looking statements relating to
future events or results that involve risks and uncertainties, including
statements regarding the expected benefits of executive changes.  Among the
important factors which could cause actual results of Hoover's to differ
materially from those in the forward-looking statements is the successful
growth of Hoover's to be the premier online business resource, effectiveness
of new leadership and management, economic conditions specific to the
Internet, as well as general economic and market conditions and other factors
detailed in Hoover's reports and documents filed from time to time with the
Securities and Exchange Commission, including its prospectus and recent 10-K
and 10-Q filings.

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requested therefor. All such material has been filed separately with the
Commission pursuant to Rule 406.<Page>

                                                CONFIDENTIAL TREATMENT REQUESTED
                                     UNDER 17 C.F.R. SECTIONS 200.83 AND 230.496

EXHIBIT 10.2

                              September 25, 2001
Gehan Talwatte
[*]
[*]
[*]
[*]

WITHOUT PREJUDICE AND SUBJECT TO CONTRACT

Dear Gehan

RE:  TERMINATION OF YOUR EMPLOYMENT WITH HOOVER'S ONLINE EUROPE LIMITED ("THE
COMPANY")

Further to our recent discussions, I write to confirm the terms upon which we
have agreed regarding your departure from the Company. In this agreement,
"Group company" means the Company and any holding company of the Company and
any subsidiaries of the Company any such holding company from time to time.

PAYMENTS AND BENEFITS

1. Your employment with the Company terminated with effect from 25 September
2001 (the "Termination Date"). You will resign your position as a director
with the Company and agree to sign a letter of resignation in the form
attached at the First Schedule.  You will continue to have access to the
Company's office in London for a minimum period of 30 days from the
Termination Date and access to your present Company phone number and
voicemail retrieval system (so long as the Company continue to provide such
services).  However, you will (on the Company's reasonable request) be
required to remove any personal property and vacate your office during this
30 day minimum period.

____________________________
[*] Indicates that material has been omitted and confidential treatment
requested therefor.  All such material has been filed separately with the
Commission pursuant to Rule 406.

                                       1

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                                                CONFIDENTIAL TREATMENT REQUESTED
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     1.1   You have been paid your salary up to and including the Termination
Date (less applicable tax and National Insurance contributions).  Your P45
will be issued no later than 19 October 2001.

     1.2   Subject to your compliance in full with your obligations as set out
in this agreement and to clause 3.1, the Company will pay (without admission
of liability) within 14 days of receiving a signed copy of this agreement,
duly signed by you and a copy of the acknowledgement in the First Schedule
duly signed by your legal adviser, the following:

           1.2.1   a payment of L27,500  in compensation for the termination
of your employment which will be made without the deduction of tax;

           1.2.2   a payment in lieu of your entitlement to notice of L32,500
(less applicable tax and National Insurance contributions);

           1.2.3   a payment of L3,611.11 (less applicable tax and National
Insurance contributions) in lieu of 10 days accrued holiday, and

           1.2.4   the sum of L1,000 (the "Restriction Payment") (less
applicable tax and National Insurance contributions)

     1.3   The Company will pay a sum equivalent to the cost to you of
obtaining cover in respect of private medical insurance, permanent health
insurance, dental health insurance and life assurance (the "Cover") providing
the Cover is in the same or similar form to that provided to you when you
were employed by the Company for a period of 6 months from the Termination
Date (unless you receive such similar benefits from a future employer at any
stage during this period). You agree to supply the Company with appropriate
receipts in respect of the Cover, and the Company will make a payment to you
in respect of the cost of the Cover within 14 days from receipt. The Company
will also agree to fully indemnify you in respect of any tax payable by you
by reason of you obtaining the Cover.

____________________________
[*] Indicates that material has been omitted and confidential treatment
requested therefor.  All such material has been filed separately with the
Commission pursuant to Rule 406.

                                       2

<Page>

                                                CONFIDENTIAL TREATMENT REQUESTED
                                     UNDER 17 C.F.R. SECTIONS 200.83 AND 230.496

     1.4   The Company shall continue to make pension contributions to your
personal pension based on 5% of the basic salary applicable and payable to
you at the Termination Date for three months from the Termination Date.

     1.5   You will continue to have access to your email account, and the
highest level(s) of subscription products offered by the Company for a
minimum period of 6 months from the Termination Date.

2.   TAXATION OF PAYMENTS

     2.1   The Company has deducted applicable PAYE tax and National Insurance
contributions (in accordance with the latest tax coding notified to it by
you/the Inland Revenue) from the payments specified in clauses 1.1, 1.2.2,
1.2.3 and 5.1.

     2.2   Except as provided in clause 2.1 and 1.3 above, you are solely
responsible to account for all income tax or employee's National Insurance
contributions payable in respect of the payments or benefits specified in
this agreement whether the same are payable in the United Kingdom or
elsewhere.

     2.3   Accordingly, you undertake to be responsible for any income tax,
employee's National Insurance contributions, fines, interest and/or penalties
arising in respect of each of the payments made and benefits provided under
this agreement (the "Excess Tax") and you hereby indemnify and shall keep
indemnified the Company and each Group company for any such Excess Tax
incurred by the Company or any Group company (excluding any interest or
penalties incurred by reason of the default of the Company or any Group
company) provided that the Company notifies you within 14 days of receipt of
any demand from the Inland Revenue ("IR") and agrees to provide you with all
reasonable co-operation in relation to any representations that you may wish
to make to the IR concerning such demand. Provided you have not already paid
the sum directly to the Inland Revenue, you undertake immediately to pay to
the Company any such Excess Tax when requested by the Company.

3.   COMPANY PROPERTY

____________________________
[*] Indicates that material has been omitted and confidential treatment
requested therefor.  All such material has been filed separately with the
Commission pursuant to Rule 406.

                                       3

<Page>

                                                CONFIDENTIAL TREATMENT REQUESTED
                                     UNDER 17 C.F.R. SECTIONS 200.83 AND 230.496

     3.1   You warrant and confirm that you will return to the Company
without modification all property (save for the provisions of clause 3.2
below) in your possession custody or control including equipment, security
passes, keys, records, correspondence, documents, files, computer disks and
other information (whether originals, copies or extracts) belonging to the
Company and any Group company and that you shall not retain any copies.

4.   CONFIDENTIALITY

     4.1   You agree to keep the terms of this agreement confidential and
have not until and will not after the date of this agreement, without the
Company's prior written consent make or authorise any press release or other
public comment or statement concerning the terms we have agreed, your
employment or its termination, except to your professional advisers and
immediate family members or as may be required by law.  However, if
appropriate, there will be a press release which you shall have the
opportunity to review and comment on prior to its distribution.

5.   RESTRICTIONS

     5.1   You undertake and agree that in consideration of the Restriction
Payment, you shall abide by the restrictions outlined in clauses 9,10 and 13
of your service agreement dated 10 May 2000 save that the Company
acknowledges that you have formed a private limited company (powerINFO) which
will act as a sales agent for the information services of Hoover's Inc.  The
post termination restrictions therefore will not be operative in the event
that such restrictions would prohibit the sales agency function of powerINFO
on behalf of Hoover's Inc or prevent powerINFO from recruiting former
employees of the Company to assist in performing those services for Hoover
Inc.  However, save as expressly referred to above the post termination
restrictions shall remain in force.

6.   CLAIMS AGAINST THE COMPANY AND WARRANTIES

     6.1   The terms set out in this agreement are in full and final
settlement of all the claims, costs, expenses, or rights of action of any
kind (if any) whether contractual, statutory or otherwise and whether arising
now or in the future and whether now known or discovered

____________________________
[*] Indicates that material has been omitted and confidential treatment
requested therefor.  All such material has been filed separately with the
Commission pursuant to Rule 406.

                                       4

<Page>

                                                CONFIDENTIAL TREATMENT REQUESTED
                                     UNDER 17 C.F.R. SECTIONS 200.83 AND 230.496

or arising after the date of this agreement, in the United Kingdom or in any
other country in the world for the avoidance of doubt any claim you may have
in any state in the USA, which you have or may have against the Company, or
any Group company (or its or their shareholders, officers or employees) from
time to time which arise out of or in connection with your employment by the
Company or its termination  including (but not limited to):

           6.1.1   any claim in relation to notice or pay in lieu of notice;

           6.1.2   any claim under the Employment Rights Act 1996 that you
may have, including a claim to a statutory redundancy payment or that you
were unfairly dismissed or that an unlawful deduction was made from your
wages;

           6.1.3   any claim relating to discrimination or victimisation
under the Race Relations Act 1976;

           6.1.4   any claim relating to discrimination or victimisation
under the Sex Discrimination Act 1975, Equal Pay Act 1970 or EU law;

           6.1.5   any claim relating to disability discrimination under the
Disability Discrimination Act 1995;

           6.1.6   any claim under the National Minimum Wage Act 1998;

           6.1.7   any claims relating to the Working Time Regulations 1998;

           6.1.8   any claims relating to the Employment Relations Act 1999;

           6.1.9   any claims relating to the Maternity and Parental Leave etc
Regulations 1999;

           6.1.10 any claims under the Transfer of Undertakings (Protection
of Employment) Regulations 1981 and/or the Trade Union and Labour Relations
(Consolidation) Act 1992;

____________________________
[*] Indicates that material has been omitted and confidential treatment
requested therefor.  All such material has been filed separately with the
Commission pursuant to Rule 406.

                                       5

<Page>

                                                CONFIDENTIAL TREATMENT REQUESTED
                                     UNDER 17 C.F.R. SECTIONS 200.83 AND 230.496

           6.1.11  any claim for breach of your contract of employment;

           6.1.12  any claim in regard to your directorship(s) of the Company
or any Group company;

           6.1.13  any claim in regard to your shareholding in the Company or
any Group company including without limitation by way of stock options save
that nothing in this clause will affect any accrued or future rights in
relation to your stock option entitlement;

           6.1.14  any claim under any share option scheme, bonus scheme or
other profit-sharing scheme or arrangement between you and the Company or any
Group company;

           6.1.15  any claim in respect of which a Conciliation Officer is
authorised to act; and

           6.1.16  any other claim arising under English Statute or common
law and/or under European Union law

           6.1.17  any claim arising under any United States Federal, state
or local statute or common law.

     6.2   You represent and warrant that:

           6.2.1   you have received independent legal advice from a relevant,
independent adviser ("the Adviser") (within the meaning of Section 203 of the
Employment Rights Act 1996 as amended) as to the terms and effect of this
agreement and in particular its effect on your ability to pursue your rights
before an Employment Tribunal. The name of the Adviser who has so advised you
is Nick Hurley.

           6.2.2   you are advised by the Adviser that there is in force and
was at the time you received the advice referred to above, a policy of
insurance covering the risk of a claim by you in respect of loss arising in
consequence of that advice;

____________________________
[*] Indicates that material has been omitted and confidential treatment
requested therefor.  All such material has been filed separately with the
Commission pursuant to Rule 406.

                                       6

<Page>

                                                CONFIDENTIAL TREATMENT REQUESTED
                                     UNDER 17 C.F.R. SECTIONS 200.83 AND 230.496

           6.2.3   you will refrain from presenting any complaint to an
Employment Tribunal and this agreement is intended also to relate to any such
a complaint; and

           6.2.4   you have not presented or brought and will not present or
bring any complaint, proceedings, action or claim before any Court or
tribunal in England or any other jurisdiction in connection with, relating to
or arising out of your employment and/or its termination and nor has nor will
anyone acting on your behalf.

     6.3   You represent and warrant that the Adviser has advised you as to
whether you have any claim or statutory complaint arising out of or in
connection with your employment by the Company or any Group company or the
termination of any such employment, including (but not limited to) those
claims set out in clauses 7.1 above.

     6.4   You represent and warrant that to the extent that you have or may
have any such complaints, these have been asserted in writing by you or by
the Adviser on your behalf to the Company prior to the date of this agreement
and this agreement and the waiver and release above expressly relate to each
and every one of those complaints.

     6.5   The Company waives all and any claims against you save in the
event that you are in breach of the terms of this Agreement and in particular
Clause 6.7.

     6.6   You warrant that you accept that the Company (on behalf of itself,
and its Group companies) is entering into this Agreement in reliance upon the
warranties provided by you in this clause 6 and clauses 3.1. and 5.1.

     6.7   You represent and warrant that you have not withheld or failed to
disclose any material fact concerning the performance of your duties for the
Company and any Group company and you are not aware of any breach by you of
any duty (including fiduciary duty) owed by you to the Company or any Group
company nor have you at any time committed a repudiatory breach of your
contract of employment which would entitle the Company to terminate your
employment without notice.

____________________________
[*] Indicates that material has been omitted and confidential treatment
requested therefor.  All such material has been filed separately with the
Commission pursuant to Rule 406.

                                       7

<Page>

                                                CONFIDENTIAL TREATMENT REQUESTED
                                     UNDER 17 C.F.R. SECTIONS 200.83 AND 230.496

     6.8   You and the Company agree and acknowledge that the conditions
regulating compromise agreements contained in the Employment Rights Act 1996,
the Sex Discrimination Act 1975, the Race Relations Act 1976, the Disability
Discrimination Act 1995 and the Working Time Regulations 1998 are intended to
be and have been satisfied. It is a condition of this agreement that you
obtain an acknowledgement from the Adviser in the form attached at the Second
Schedule.

     6.9   You undertake to repay to the Company immediately upon request all
sums paid to you under this agreement in the event that you breach any term
of the agreement or commence any proceedings against the Company or any Group
company or if you assert or anyone acting on your behalf asserts that this
agreement is not a valid compromise agreement or if it is so adjudged by any
court or tribunal.  Such repayment shall be recoverable as a debt.

7.   GENERAL

     7.1   This agreement sets out the entire agreement between us and
supersedes all prior discussion between us or our advisors and all statements
representations (other than fraudulent or negligent misrepresentations) terms
and conditions warranties guarantees proposals communications and
understandings whenever given and whether orally or in writing. The proposals
in it are made without any admission of liability.

     7.2   The failure to exercise or delay in exercising a right or remedy
provided by this agreement or by law does not constitute a waiver of the
right or remedy or a waiver of other rights or remedies.

     7.3   A waiver of a breach of any of the terms of this agreement or of a
default under this agreement does not constitute a waiver of any other breach
or default and shall not affect the other terms of this agreement.

     7.4   A waiver of a breach of any of the terms of this agreement or of a
default under this agreement will not prevent a party from subsequently
requiring compliance with the waived obligation.

____________________________
[*] Indicates that material has been omitted and confidential treatment
requested therefor.  All such material has been filed separately with the
Commission pursuant to Rule 406.

                                       8

<Page>

                                                CONFIDENTIAL TREATMENT REQUESTED
                                     UNDER 17 C.F.R. SECTIONS 200.83 AND 230.496

     7.5   The rights and remedies provided by this agreement are cumulative
and (subject as otherwise provided in this agreement) are not exclusive of
any rights or remedies provided by law. In addition to the Company, any Group
company and any of its or their officers may enforce the terms of this
agreement and the Contracts (Rights of Third Parties) Act 1999 shall apply
accordingly.

     7.6   The validity, construction and performance of the terms set out in
this agreement shall be governed by and construed in accordance with English
law. Each of us irrevocably submits to the exclusive jurisdiction of the
Court of England over any claim or matter arising under or in connection with
this agreement or the legal relationships established it.

     7.7   This agreement although marked "without prejudice/subject to
contract" will upon signature by us both you and the Adviser providing the
acknowledgement in the Second Schedule be treated as an open document
evidencing an agreement binding on us both.

Please confirm your agreement to the terms set out in this letter by signing,
dating and returning to me the enclosed copy of this letter. Please also note
the condition in the agreement that your Adviser sign the acknowledgement set
out in the attached Schedule. Please return this with your signed copy of the
agreement.

I look forward to hearing from you.

Yours sincerely,

Hoover's Europe Online Limited

          /s/
---------------------------
Russell Secker
Director of Operations and Finance

DULY AUTHORISED FOR AND ON BEHALF OF THE COMPANY

          /s/
---------------------------
Gehan Talwatte

____________________________
[*] Indicates that material has been omitted and confidential treatment
requested therefor.  All such material has been filed separately with the
Commission pursuant to Rule 406.

                                       9

<Page>

                                                CONFIDENTIAL TREATMENT REQUESTED
                                     UNDER 17 C.F.R. SECTIONS 200.83 AND 230.496

                                FIRST SCHEDULE

                             [RESIGNATION LETTER]

                                Gehan Talwatte
                                     [*]
                                     [*]
                                     [*]
                                     [*]

                              September 25, 2001

Mr. Russell Secker
Director of Operations and Finance
Hoover's Online Europe Limited
5 Lambton Place
Notting Hill
London ENGLAND W11 2SH

Re:  Resignation from Hoover's Online Europe Limited (the "Company")

Dear Russell:

I hereby resign as Managing Director and as a member of the Board of
Directors of the Company, effective as of September 25, 2001.

Yours sincerely

Gehan Talwatte

Cc:  Jeff Tarr (Hoover's, Inc.)

____________________________
[*] Indicates that material has been omitted and confidential treatment
requested therefor.  All such material has been filed separately with the
Commission pursuant to Rule 406.

                                       10

<Page>

                                                CONFIDENTIAL TREATMENT REQUESTED
                                     UNDER 17 C.F.R. SECTIONS 200.83 AND 230.496

                               SECOND SCHEDULE
                          ADVISER'S ACKNOWLEDGEMENT

I, Nick Hurley confirm that I have given independent legal advice to Gehan
Talwatte of [*] as to the terms and effect of this agreement and in particular
its effect on his ability to pursue his rights before an Employment Tribunal.

I confirm that I am a Solicitor of the Supreme Court holding a current
practising certificate that I am not employed by nor acting for Hoover's
Online Europe Limited. I confirm that there is, and was at the time I gave the
advice referred to above, in force a policy of insurance covering for the risk
of a claim by Mr Talwatte in respect of any loss arising in consequence of
that advice.

Signed /s/ Nick S. Hurley               Dated
       -------------------------------       ----------------------------

____________________________
[*] Indicates that material has been omitted and confidential treatment
requested therefor.  All such material has been filed separately with the
Commission pursuant to Rule 406.

                                       11

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