Document:

<PAGE>   1
                                                                    EXHIBIT 10.9

                              AMENDED AND RESTATED

                          REGISTRATION RIGHTS AGREEMENT

         THIS AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT (this
"Agreement") is entered into as of August 20th, 1999, by and among AUTOCONNECT,
L.L.C., a Delaware limited liability company to be renamed as "AutoTrader.com,
LLC" (referred to herein, together with any Successor thereto, as the
"Company"), the undersigned members of the Company (the "Members"), and those
other persons and entities who have executed or shall have executed this
Agreement and whose names appear on the Schedule of Registration Rights Holders
attached hereto as Exhibit A, as such Schedule may be amended from time to time
pursuant to Section 11.2 hereof.

         WHEREAS, the Company was formed pursuant to an Operating Agreement,
dated as of December 18, 1997 (the "Original LLC Agreement"), between Manheim
Auctions, Inc., a Delaware corporation ("Manheim"), and ADP, Inc., a Delaware
corporation ("ADP"); and

         WHEREAS, in conjunction with the Original LLC Agreement, the Company,
Manheim and ADP entered into a Registration Rights Agreement dated as of
December 18, 1997 (the "Original Registration Rights Agreement"); and

         WHEREAS, Manheim, ADP, TPI, Inc., a Delaware corporation ("Cox"), LTM
Company, L.P., a Virginia limited partnership ("Landmark"), ATC Holdings, Inc.,
a Nevada corporation, and KPCB Holdings, Inc., as nominee ("KPCB"), have entered
into an Amended and Restated Limited Liability Company Agreement, dated as of
the date hereof (the "LLC Agreement"), which amends and restates the Original
LLC Agreement in its entirety; and

         WHEREAS, Manheim, ADP, Cox, Landmark and KPCB desire to enter into this
Amended and Restated Registration Rights Agreement, which amends and restates
the Original Registration Rights Agreement in its entirety; and

         WHEREAS, the Company has agreed to grant certain rights with respect to
the Membership Interests now or hereafter issued to the Members pursuant to the
LLC Agreement (and any equity securities into or for which such Membership
Interests are changed or exchanged in a Reorganization);

         NOW, THEREFORE, in consideration of the foregoing and of the mutual
promises and covenants contained herein, the parties hereby agree as follows:

                                    ARTICLE 1

                                   DEFINITIONS

         For all purposes of this Agreement, capitalized terms not otherwise
defined herein shall have the meanings set forth in the LLC Agreement. As used
herein, the following terms shall have the following respective meanings:

<PAGE>   2

                                      -2-

         1.1      "Commission" shall mean the Securities and Exchange Commission
or any other federal agency at the time administering the Securities Act.

         1.2      "Holders" shall mean any person or persons who have executed
this Agreement and whose names appear on the Schedule of Registration Rights
Holders or who shall, pursuant to Section 11.4 hereof, become parties hereto,
and any qualifying transferees under Article 10 hereof who hold Registrable
Securities.

         1.3      "Initial Public Offering" shall mean the initial firm
commitment underwritten public offering of equity interests of the Company (or
its Successor) by means of a Registration Statement filed by the Company (or its
Successor) with the Securities and Exchange Commission under the Securities Act,
which offering does not exclusively relate to the securities under an employee
stock option, bonus or other compensation plan, and yielding gross proceeds to
the Company (or such Successor) of not less than $20,000,000 (before any
underwriting discounts and other expenses and including proceeds received by the
Company (or such Successor) upon exercise of any over-allotment option by
underwriters).

         1.4      The terms "register," "registered" and "registration" refer to
a registration effected by preparing and filing a registration statement in
compliance with the Securities Act, and the declaration or ordering of the
effectiveness of such registration statement.

         1.5      "Registrable Securities" means any and all (i) interests or
units of interest of the Company's Membership Interests issued under the LLC
Agreement, (ii) equity securities of the Company issued or issuable to Holders
upon a Reorganization, and (iii) any securities of the Company issued or
issuable to Holders with respect to any securities referred to in clauses (i)
and (ii) above, upon any stock split, stock dividend, recapitalization or
similar event, or upon conversion of any shares of Class B Common Stock of the
Company (or its Successor) into shares of Class A Common Stock of the Company
(or its Successor), but excluding shares that (A) have been sold to or through a
broker, dealer or underwriter in a public distribution or a public securities
transaction, or (B) are available for sale and can be sold (whether or not so
sold) without limitation pursuant to Rule 144(k) promulgated under the
Securities Act (or any similar successor provision thereto); to the extent that
any of such holder's securities described in clauses (i) through (iii) above
(collectively, "Equity Shares") are not eligible to be sold pursuant to Rule
144(k), such Equity Shares shall remain Registrable Securities.

         1.6      "Registration Expenses" shall mean all expenses, except
Selling Expenses, incurred by the Company in complying with Articles 2, 3 and 4
hereof, including, without limitation, all registration, qualification and
filing fees, printing expenses, escrow fees, fees and disbursements of legal
counsel and accountants for the Company, fees and disbursements of one legal
counsel for the selling stockholders, blue sky fees and expenses, and the
expense of any special audits incident to or required by any such registration
(but excluding the compensation of regular employees of the Company which shall
be paid in any event by the Company).

         1.7      "Requesting Holders" shall mean the Initiating Holders and
each other Holder that requests that any or all of its Registrable Securities be
included in a registration.

<PAGE>   3

                                      -3-

         1.8      "Securities Act" shall mean the Securities Act of 1933, as
amended, or any similar federal statute and the rules and regulations of the
Commission thereunder, all as the same shall be in effect at the time.

         1.9      "Selling Expenses" shall mean all underwriting fees,
discounts, selling commissions and stock transfer taxes applicable to the
Registrable Securities registered by the Holders.

                                    ARTICLE 2

                             REQUESTED REGISTRATION

         2.1      Request for Registration. At any time after the date which is
six months from the date of the closing of the Initial Public Offering, one or
more Holders (the "Initiating Holders") seeking to register Registrable
Securities for a public offering of such shares in which the reasonably
anticipated aggregate offering price to the public would be at least $10 million
may request, in writing, that the Company effect a registration or qualification
with respect to Registrable Securities held by the Initiating Holders. In the
event the Company receives from the Initiating Holders such a written request,
the Company will:

                  (a)      promptly give written notice of the proposed
registration or qualification to all other Holders, which notice shall state
that each Holder has the right to request that any or all of its Registrable
Securities be included in such registration; and

                  (b)      use its reasonable best efforts to effect such
registration or qualification as soon as practicable (including, without
limitation, undertaking to file post-effective amendments, appropriate
qualifications under applicable blue sky or other state securities laws, and
undertaking to effect appropriate compliance with applicable regulations issued
under the Securities Act, and any other governmental requirements or
regulations) as may be so requested and as would permit or facilitate the sale
and distribution of all or such portion of such Registrable Securities as are
specified in such request, together with all or such portion of the Registrable
Securities of any Requesting Holders that join in such request by written
request received by the Company within 15 days after the receipt of the written
notice from the Company described in Section 2.1(a); provided, however, that the
Company shall not be obligated to take any action to effect any such
registration, qualification or compliance pursuant to this Article 2:

                           (i)      in any particular jurisdiction in which the
Company would be required to execute a general consent to service of process in
effecting such registration, qualification or compliance, unless the Company is
already subject to service in such jurisdiction and except as may be required by
the Securities Act;

                           (ii)     after the Company has effected three (3)
such registrations at the request of any Initiating Holders pursuant to this
Article 2 and each such registration has been declared or ordered effective by
the Commission; provided, however, that each of Manheim, ADP, Cox, Landmark and
KPCB in any event shall be entitled, subject to the satisfaction of the other
requirements relating to requested registrations under this Article 2, to
request a minimum

<PAGE>   4

                                      -4-

of one (1) registration pursuant to this Article 2 that is declared or ordered
effective by the Commission;

                           (iii)    if the Company, within fifteen (15) days of
the receipt of the request of the Holder or Holders, gives notice of its bona
fide intention to effect the filing of a registration statement with the
Commission within sixty (60) days of receipt of such request (other than with
respect to a registration statement relating to a transaction pursuant to Rule
145 of the rules and regulations promulgated under the Securities Act (a "Rule
145 Transaction") or an offering solely to employees), provided that the Company
is actively employing in good faith all reasonable best efforts to file such a
registration statement and provided, further, that no other person or entity
could require the Company to file a registration statement in such period;

                           (iv)     during the period starting with the date of
filing of, and ending on a date which is 180 days following the effective date
of, a registration statement described in (iii) above or filed pursuant to this
Article 2, or Articles 3 or 4 hereof (or such shorter period as the managing
underwriter of the Company's most recent public offering may agree), provided
that the Company is actively employing in good faith all reasonable best efforts
to cause such registration statement to become effective and provided, further,
that no other person or entity could require the Company to file a registration
statement in such period;

                           (v)      more than twice in any twelve (12) month
period.

                  (c)      Subject to the foregoing clauses (i) through (v) of
Section 2.1(b), the Company shall file a registration statement covering the
Registrable Securities so requested to be registered as soon as practicable
after receipt of the request of the Initiating Holders; provided, however, that
if the Company shall furnish to such Initiating Holders a certificate signed by
the chief executive officer of the Company stating that in the good faith
judgment of the Management Committee or the Board of Directors of the Company
(as the case may be), it would be seriously detrimental to the Company and its
stockholders for such registration statement to be filed as a result of a
pending corporate transaction, the Company shall have the right to defer such
filing for a period of not more than ninety (90) days after receipt of the
request of the Initiating Holders, provided, however, that the Company shall not
be permitted to exercise such deferral right under this Section 2.1(c) or
Section 4.1(c) more than once in any 365-day period.

        2.2      Underwriting.

                  (a)      The distribution of the Registrable Securities
covered by the request of the Requesting Holders shall be effected, if requested
by at least a majority in interest of the Requesting Holders, by means of a firm
commitment underwriting. The right of any Holder to registration pursuant to
this Article 2 shall be conditioned upon such Holder's participation in such
requested underwriting and the inclusion of such Holder's Registrable Securities
in the underwriting (unless otherwise agreed by a majority in interest of the
Requesting Holders) to the extent provided herein.

                  (b)      The Company (together with all Requesting Holders)
shall enter into an underwriting agreement in customary form with a managing
underwriter of nationally recognized

<PAGE>   5

                                      -5-

standing selected for such underwriting by the Company. The Company shall use
its reasonable best efforts to ensure that the Requesting Holders' indemnity
obligations pursuant to such an underwriting agreement are no more extensive
than those provided in Article 7 of this Agreement. Notwithstanding any other
provision of this Article 2, if the managing underwriter advises such Holders in
writing that marketing factors require a limitation of the number of shares to
be underwritten, then the underwriters may exclude shares requested to be
included in such registration. The number of shares of Registrable Securities
that may be included in the registration and underwriting shall be allocated
first among the Requesting Holders in proportion, as nearly as practicable, to
the respective amounts of Registrable Securities proposed to be sold by such
Requesting Holders pursuant to the registration request notices contemplated by
Section 2.1. No Registrable Securities excluded from the underwriting by reason
of the managing underwriter's marketing limitation shall be included in such
registration, and if the number of Registrable Securities of any Requesting
Holder that is excluded from the Registration is greater than thirty percent
(30%) of the Registrable Securities that any Requesting Holder has requested be
included in the registration, then such registration shall not be included among
the registrations provided for in Section 2.1(b)(ii).

                  (c)      If any Requesting Holder disapproves of the terms of
the underwriting, such Holder may elect to withdraw therefrom by written notice
to the Company, the managing underwriter and the Initiating Holders. The
Registrable Securities so withdrawn shall also be withdrawn from registration
but the Holders shall continue to be bound by Article 7 hereof and such
Registrable Securities shall not be transferred in a public distribution prior
to ninety (90) days after the effective date of the registration statement filed
pursuant to such registration. Notwithstanding the previous sentence, if by the
withdrawal of such Registrable Securities a greater number of Registrable
Securities held by other Holders may be included in such registration (up to the
maximum of any limitation imposed by the underwriters), then the Company shall
offer to all remaining Requesting Holders the right to include additional
Registrable Securities in the same proportion used in determining the
underwriter limitation in this Section 2.2.

         2.3      Inclusion of Shares by Company. If the managing underwriter
has not limited the number of Registrable Securities to be underwritten, the
Company may include securities for its own account or for the account of others
in such registration if the managing underwriter so agrees and if the number of
Registrable Securities held by Holders which would otherwise have been included
in such registration and underwriting will not thereby be limited. The inclusion
of such shares shall be on the same terms as the registration of shares held by
the Requesting Holders. In the event that the underwriters exclude some of the
securities to be registered, the securities to be sold for the account of the
Company and any other holders shall be excluded in their entirety prior to the
exclusion of any Registrable Securities.

         2.4      Form S-3. Notwithstanding any other provision of this
Agreement, if a Holder makes a request for registration of Registrable
Securities pursuant to this Article 2, and the Company is then a registrant
entitled to use Form S-3 (or any successor form to Form S-3), the Company may
elect to effect such registration utilizing Form S-3 (or any successor form to
Form S-3) in accordance with the procedures set forth in Article 4, and such
registration shall not be included among the registrations provided for in
Section 2.1(b)(ii).

<PAGE>   6

                                      -6-

                                    ARTICLE 3

                              COMPANY REGISTRATION

         3.1      Notice of Registration to Holders. If at any time or from time
to time the Company shall determine to register any of its securities, either
for its own account or the account of a security holder or holders, other than
(i) a registration relating solely to employee benefit plans on Form S-8 (or any
successor form), (ii) a registration relating solely to a Rule 145 Transaction
on Form S-4 (or any successor form), or (iii) a registration to effect the
Initial Public Offering, the Company will:

                  (a)      promptly give to each Holder written notice thereof;
and

                  (b)      include in such registration (and any related
qualification under blue sky laws or other compliance), and in any underwriting
involved therein, all the Registrable Securities specified in a written request
or requests, made within 15 days after receipt of such written notice from the
Company described in Section 3.1(a), by any Holder or Holders.

         3.2      Underwriting.

                  (a)      If the registration of which the Company gives notice
is for a registered public offering involving an underwriting, the Company shall
so advise the Holders as a part of the written notice given pursuant to Section
3.1(a). In such event, the right of any Holder to registration pursuant to this
Article 3 shall be conditioned upon such Holder's participation in such
underwriting and the inclusion of such Holder's Registrable Securities in the
underwriting to the extent provided herein. All Holders proposing to distribute
their securities through such underwriting shall (together with the Company)
enter into an underwriting agreement in customary form with the managing
underwriter selected for such underwriting by the Company. The Company shall use
its reasonable best efforts to ensure that the Requesting Holders' indemnity
obligations pursuant to such an underwriting agreement are no more extensive
than those provided in Article 7 of this Agreement.

                  (b)      Notwithstanding any other provision of this Article
3, if the managing underwriters determine that marketing factors require a
limitation of the number of shares to be underwritten, the underwriters may
exclude some or all Registrable Securities from such registration and
underwriting (provided, however, that in no event shall such exclusion be
permitted to the extent that it would limit the number of shares proposed to be
underwritten to be less than thirty percent (30%) of the total number of shares
proposed to be underwritten). The Company shall so advise all Holders of
Registrable Securities, and the number of Equity Shares to be included in such
registration shall be allocated as follows: first, for the account of the
Company, all Equity Shares proposed to be sold by the Company; second, for the
account of Holders of Registrable Securities participating in such registration,
the number of Registrable Securities requested to be included in the
registration by such Holders in proportion, as nearly as practicable, to the
respective amounts of Registrable Securities proposed to have been sold by such
Holders pursuant to the registration request notices contemplated by Section
3.1, and third, for the account of any other stockholders of the Company
participating in such registration, the

<PAGE>   7

                                      -7-

number of Equity Shares requested to be included in the registration by such
other stockholders in proportion, as nearly as practicable, to the respective
amounts of Equity Shares that are proposed to be offered and sold by such other
stockholders of Equity Shares at the time of filing the registration statement.
No Registrable Securities excluded from the underwriting by reason of the
underwriters' marketing limitation shall be included in such registration.

                  (c)      The Company shall so advise all Holders and the other
holders distributing their securities through such underwriting of any such
limitation, and the number of shares of Registrable Securities held by Holders
that may be included in the registration and underwriting shall be allocated
among all Holders in proportion, as nearly as practicable, to the respective
amounts of Registrable Securities proposed to have been sold by all such Holders
pursuant to the registration request notices contemplated by Section 3.1. If any
Holder disapproves of the terms of any such underwriting, such Holder may elect
to withdraw therefrom by written notice to the Company and the managing
underwriter. Any securities excluded or withdrawn from such underwriting shall
be withdrawn from such registration, but the Holder shall continue to be bound
by Article 7 hereof and such Registrable Securities shall not be transferred in
a public distribution prior to ninety (90) days after the effective date of the
registration statement filed pursuant to such registration, or such other period
of time as the underwriters may require, but in no event shall such period
exceed one hundred and eighty (180) days.

                  (d)      The Company shall have the right to terminate or
withdraw any registration initiated by it under this Article 3 prior to the
effectiveness of such registration, whether or not a Holder has elected to
include securities in such registration.

                                    ARTICLE 4

                            REGISTRATION ON FORM S-3

         4.1      Request for Registration. In addition to the rights set forth
in Articles 2 and 3 hereof, one or more Holders may from time to time (and an
unlimited number of times) request that the Company file a registration
statement on Form S-3 (or any successor form to Form S-3) for a public offering
of shares of Registrable Securities having an aggregate offering price of at
least $1.0 million (based on the then current market price). In the event that
the Company shall receive from the Initiating Holders such a written request,
and the Company is then a registrant entitled to use Form S-3 (or any successor
form to Form S-3) to register such shares for such an offering, the Company
will:

                  (a)      promptly give written notice of the proposed
registration to all other Holders, which notice shall state that each Holder has
the right to request that any or all of its Registrable Securities by be
included in such registration; and shall use its reasonable best efforts to
cause such shares to be registered for the offering as soon as practicable on
Form S-3 (or any successor form to Form S-3).

                  (b)      use its reasonable best efforts to effect such
registration or qualification as soon as practicable (including, without
limitation, undertaking to file post-effective amendments, appropriate
qualifications under applicable blue sky or other state securities laws, and
undertaking

<PAGE>   8

                                      -8-

to effect appropriate compliance with applicable regulations issued under the
Securities Act, and any other governmental requirements or regulations) as may
be so requested and as would permit or facilitate the sale and distribution of
all or such portion of such Registrable Securities as are specified in such
request, together with all or such portion of the Registrable Securities of any
Requesting Holders that join in such request by written request received by the
Company within 15 days after the receipt of the written notice from the Company
described in Section 4.1(a); provided, however, that the Company shall not be
obligated to take any action to effect any such registration, qualification or
compliance pursuant to this Article 4:

                           (i)      in any particular jurisdiction in which the
Company would be required to execute a general consent to service of process in
effecting such registration, qualification or compliance, unless the Company is
already subject to service in such jurisdiction and except as may be required by
the Securities Act;

                           (ii)     if the Company, within fifteen (15) days of
the receipt of the request of the Holder or Holders, gives notice of its bona
fide intention to effect the filing of a registration statement with the
Commission within sixty (60) days of receipt of such request (other than with
respect to a registration statement relating to a Rule 145 transaction or an
offering solely to employees); provided that the Company is actively employing
in good faith all reasonable best efforts to file such a registration and
provided, further, that no other person or entity could require the Company to
file a registration statement in such period; and

                           (iii)    during the period starting with the date of
the filing of, and ending on a date which is 180 days following the effective
date of, a registration statement described in (ii) above or filed pursuant to
this Article 4, or Articles 2 or 3 hereof (or such shorter period as the
managing underwriter of the Company's most recent public offering may agree),
provided that the Company is actively employing in good faith all reasonable
best efforts to cause such registration statement to become effective and
provided, further, that no other person or entity could require the Company to
file a registration statement in such period.

                  (c)      Subject to the foregoing clauses (i) through (iii) of
Section 4.1(b), the Company shall file a registration statement on Form S-3
covering the Registrable Securities so requested to be registered as soon as
practicable after the receipt of the request of the Initiating Holders;
provided, however, that if the Company shall furnish to the Initiating Holders a
certificate signed by the chief executive officer of the Company stating that in
the good faith judgment of the Board of Directors of the Company, it would be
seriously detrimental to the Company and its stockholders for such registration
statement to be filed as the result of a pending corporate transaction, the
Company shall have the right to defer such filing for a period of not more than
ninety (90) days after the receipt of the request of the Initiating Holders;
provided, further, that the Company shall not be permitted to exercise such
deferral right under this Section 4.1(c) or Section 2.1(c) hereof more than once
in any 365-day period.

         4.2      Underwriting.

                  (a)      The distribution of the Registrable Securities
covered by the request of the Requesting Holders shall be effected, if requested
by at least a majority in interest of the

<PAGE>   9

                                      -9-

Requesting Holders, by means of a firm commitment underwriting. The right of any
Holder to registration pursuant to this Article 4 shall be conditioned upon such
Holder's participation in such requested underwriting and the inclusion of such
Holder's Registrable Securities in the underwriting (unless otherwise agreed by
a majority in interest of the Requesting Holders) to the extent provided herein.

                  (b)      The Company (together with all Requesting Holders)
shall enter into an underwriting agreement in customary form with a managing
underwriter of nationally recognized standing selected for such underwriting by
the Company. The Company shall use its reasonable best efforts to ensure that
the Requesting Holders' indemnity obligations pursuant to such an underwriting
agreement are no more extensive than those provided in Article 7 of this
Agreement. Notwithstanding any other provision of this Article 4, if the
managing underwriter advises the Requesting Holders in writing that marketing
factors require a limitation of the number of shares to be underwritten, then
the underwriters may exclude some or all of the shares requested to be included
in such registration. The number of shares of Registrable Securities that may be
included in the registration and underwriting shall be allocated among the
Requesting Holders in proportion, as nearly as practicable, to the respective
amounts of Registrable Securities proposed to be sold by such Requesting Holders
pursuant to the registration request notices contemplated by Section 4.1. No
Registrable Securities excluded from the underwriting by reason of the managing
underwriter's marketing limitation shall be included in such registration.

                  (c)      If any Requesting Holder disapproves of the terms of
the underwriting, such Holder may elect to withdraw therefrom by written notice
to the Company, the managing underwriter and the Initiating Holders. The
Registrable Securities so withdrawn shall also be withdrawn from registration
but the Holders shall continue to be bound by Article 8 hereof and such
Registrable Securities shall not be transferred in a public distribution prior
to ninety (90) days after the effective date of the registration statement filed
pursuant to such registration. Notwithstanding the previous sentence, if by the
withdrawal of such Registrable Securities a greater number of Registrable
Securities held by other Holders may be included in such registration (up to the
maximum of any limitation imposed by the underwriters), then the Company shall
offer to all remaining Requesting Holders the right to include additional
Registrable Securities in the same proportion used in determining the
underwriter limitation in this Section 4.2.

         4.3      Inclusion of Shares by Company. If the managing underwriter
has not limited the number of Registrable Securities to be underwritten, the
Company may include securities for its own account or for the account of others
in such registration if the managing underwriter so agrees and if the number of
Registrable Securities held by Holders requesting registration on Form S-3 which
would otherwise have been included in such registration and underwriting will
not thereby be limited. The inclusion of such shares shall be on the same terms
as the registration of shares held by the Requesting Holders. In the event that
the underwriters exclude some of the securities to be registered on Form S-3,
the securities to be sold for the account of the Company and any other holders
shall be excluded in their entirety prior to the exclusion of any Registrable
Securities.

<PAGE>   10

                                      -10-

                                    ARTICLE 5

                            EXPENSES OF REGISTRATION

         All Registration Expenses incurred in connection with any registration,
qualification or compliance pursuant to Articles 2, 3 and 4 hereof shall be
borne by the Company. All Selling Expenses relating to securities registered by
the Holders shall be borne by the holders of such securities pro rata on the
basis of the number of shares so registered.

                                    ARTICLE 6

                             REGISTRATION PROCEDURES

         In the case of each registration or qualification effected by the
Company pursuant to this Agreement, the Company will keep each Holder advised in
writing as to the initiation of each registration and qualification and as to
the completion thereof. At its expense, the Company will:

                  (a)      Keep such registration or qualification effective and
current for a period of 180 days (or such longer period as may be necessary to
accommodate the filing of amendments or supplements necessary to comply with the
Securities Act) or until the Holder or Holders have completed the distribution
described in the registration statement relating thereto, whichever first
occurs;

                  (b)      Promptly furnish such number of prospectuses
(including all amendments) and other documents incident thereto as a Holder from
time to time may reasonably request;

                  (c)      Use its reasonable best efforts to register and
qualify the securities covered by such registration statement under such other
securities or blue sky laws of such jurisdictions as shall be reasonably
requested by the Holders or any managing underwriter for the distribution of the
Registrable Securities covered by the registration statement; provided that the
Company shall not be required in connection therewith or as a condition thereto
to qualify to do business or to file a general consent to service of process in
any such states or jurisdiction;

                  (d)      Use its reasonable best efforts to cause all
Registrable Securities covered by the registration statement to be listed or
accepted for quotation on a national securities exchange or automated quotation
system, and maintained for listing or quotation thereon;

                  (e)      In the event of any underwritten public offering,
enter into and perform its obligations under an underwriting agreement, in usual
and customary form, with the managing underwriter of such offering. Each Holder
participating in such underwriting shall also enter into and perform its
obligations under such an agreement; provided, that the Company shall use its
reasonable best efforts to ensure that the Requesting Holders' indemnity
obligations pursuant to such an underwriting agreement are no more extensive
than those provided in Article 7 of this Agreement. In addition, the Company
shall use its reasonable best efforts to take such other actions as may be
reasonably requested by the managing underwriter to expedite or facilitate the
completion of the offering, including participation by a "named executive
officer" of the Company

<PAGE>   11

                                      -11-

(as defined in Item 402(a)(3) of Regulation S-K under the Securities Act) in any
road shows or other presentations organized by the managing underwriter.

                  (f)      Subject to receiving reasonable assurances of
confidentiality, for a reasonable period after the filing of such registration
statement, and throughout each period during which the Company is required to
keep a registration effective, make available for inspection by the selling
Holders, and any underwriters, and their respective counsel, such financial and
other information and books and records of the Company, and cause the officers,
directors, employees, counsel and independent certified public accountants of
the Company to respond to such inquiries as shall be reasonably necessary to
conduct a reasonable investigation within the meaning of Section 11 of the
Securities Act;

                  (g)      Promptly notify each Holder of Registrable Securities
covered by such registration statement, at any time when a prospectus relating
thereto covered by such registration statement is required to be delivered under
the Securities Act, of the occurrence of any event as a result of which the
prospectus included in such registration statement, as then in effect, includes
an untrue statement of a material fact or omits to state a material fact
required to be stated therein or necessary to make the statements therein not
misleading in the light of the circumstances then existing; and

                  (h)      Promptly notify the selling Holders and any
underwriters, and confirm such advice in writing, (i) when such registration
statement or the prospectus included therein or any prospectus amendment or
supplement or post-effective amendment has been filed, and, with respect to such
registration statement or any post-effective amendment, when the same has become
effective, (ii) of any comments by the Commission, by the National Association
of Securities Dealers Inc. ("NASD"), and by the blue sky or securities
commissioner or regulator of any state with respect thereto or any request by
any such entity for amendments or supplements to such registration statement or
prospectus or for additional information, (iii) of the issuance by the
Commission of any stop order suspending the effectiveness of such registration
statement or the initiation or threatening of any proceedings for that purpose,
(iv) if at any time the representations and warranties of the Company cease to
be true and correct in all material respects, and (v) of the receipt by the
Company of any notification with respect to the suspension of the qualification
of the Registrable Securities covered by the registration statement for sale in
any jurisdiction or the initiation or threatening of any proceeding for such
purpose.

                  (i)      At the request of any Requesting Holder, (i) use its
reasonable best efforts to furnish to such requesting Holder, if such
registration includes an underwritten public offering, at the closing provided
for in the underwriting agreement, copies of any opinion, dated such date, of
the counsel representing the Company for the purposes of such registration,
addressed to the underwriters covering such matters with respect to the
registration statement, the prospectus and each amendment or supplement thereto,
proceedings under state and Federal securities laws, other matters relating to
the Company, the securities being registered and the offer and sale of such
securities as are customarily the subject of opinions of issuer's counsel
provided to underwriters in underwritten public offerings and (ii) use its
reasonable best efforts to furnish to the Requesting Holder letters dated each
such effective date and such closing date, from the independent certified public
accountants of the Company, addressed to the underwriters stating

<PAGE>   12

                                      -12-

that they are independent certified pubic accountants within the meaning of the
Securities Act and dealing with such matters as the underwriters may reasonably
request, and (iii) furnish to the Requesting Holder such information as such
seller may reasonably request for the purpose of establishing its "due
diligence" defense under Section 11 of the Securities Act, but subject to such
confidentiality restrictions as the Company may reasonably impose to protect its
confidential and proprietary information.

                                    ARTICLE 7

                                 INDEMNIFICATION

         7.1      The Company will indemnify each Holder, each of its officers,
directors, partners, stockholders, employees and agents, and each person
controlling any such persons within the meaning of Section 15 of the Securities
Act, with respect to which registration or qualification has been effected
pursuant to this Agreement, and each underwriter, if any, and each person who
controls any underwriter within the meaning of Section 15 of the Securities Act,
against all expenses, claims, losses, damages and liabilities (or actions in
respect thereof), including any of the foregoing incurred in settlement of any
litigation, commenced or threatened, arising out of or based on any untrue
statement (or alleged untrue statement) of a material fact contained in any
registration statement, preliminary prospectus or prospectus or any amendment or
supplement thereof, incident to any such registration or qualification, or based
on any omission (or alleged omission) to state therein, a material fact required
to be stated therein or necessary to make the statements therein, not misleading
and will reimburse each such Holder, each of its officers and directors,
partners, stockholders, employees and agents, and each person controlling any
such persons, each such underwriter and each person who controls any such
underwriter, for any legal and any other expenses reasonably incurred in
connection with investigating, preparing or defending any such claim, loss,
damage, liability or action; provided, however, that the Company will not be
liable in any such case to the extent that any such claim, loss, damage,
liability or expense arises out of or is based on any untrue statement or
omission or alleged untrue statement or omission, made in reliance upon and in
conformity with written information furnished to the Company by or on the
account of such Holder, underwriter or controlling person and expressly intended
for use in such registration statement, preliminary prospectus or prospectus or
any amendment or supplement thereof. Expenses (including attorneys' and
accountants' fees) incurred in defending a civil or criminal claim, action,
suit, or proceeding shall be paid by the Company in advance of the final
disposition of the matter upon receipt of an undertaking satisfactory to the
Company by or on behalf of any person or entity entitled to indemnification
pursuant to this Section 7.1 to repay such amount if such person or entity is
ultimately determined not to be entitled to indemnity.

         7.2      Each Holder will, if Registrable Securities held by such
Holder are included in the securities as to which such registration or
qualification is being effected, severally but not jointly indemnify the
Company, each of its directors and officers, stockholders, agents and employees,
each underwriter, if any, of the Company's securities covered by such a
registration statement, each person who controls the Company or such underwriter
within the meaning

<PAGE>   13

                                      -13-

of Section 15 of the Securities Act, and each other such Holder, each of its
officers, directors, partners, stockholders, employees and agents, and each
person controlling such Holder within the meaning of Section 15 of the
Securities Act, against all expenses, claims, losses, damages and liabilities
(or actions in respect thereof), including any of the foregoing incurred in
settlement of any litigation, commenced or threatened, arising out of or based
on any untrue statement (or alleged untrue statement) of a material fact
contained in any such registration statement, preliminary prospectus or
prospectus or any amendment or supplement thereto, incident to any such
registration, qualification or compliance or based on any omission (or alleged
omission) to state therein a material fact required to be stated therein or
necessary to make the statements therein not misleading, and will reimburse the
Company, such Holders, such directors, officers, partners, stockholders,
employees, agents, underwriters or control persons for any legal or any other
expenses reasonably incurred in connection with investigating, preparing or
defending any such claim, loss, damage, liability or action, in each case to the
extent, but only to the extent, that such untrue statement (or alleged untrue
statement) or omission (or alleged omission) is made in such registration
statement, preliminary prospectus or prospectus or any amendment or supplement
thereto in reliance upon and in conformity with written information furnished to
the Company by such Holder or controlling person and expressly intended for use
in such registration statement, preliminary prospectus or prospectus or other
document, or any amendment or supplement thereof; provided, however, that the
obligations of each Holder or the person controlling such Holder hereunder shall
be limited to an amount equal to the proceeds to such Holder from the sale of
Registrable Securities sold pursuant to registration as contemplated herein.

         7.3      Each party entitled to indemnification under this Section 7
(the "Indemnified Party") shall give notice to the party required to provide
indemnification (the "Indemnifying Party") promptly after such Indemnified Party
has actual knowledge of any claim as to which indemnity may be sought, and shall
permit the Indemnifying Party to assume the defense of any such claim or any
litigation resulting therefrom, provided that counsel for the Indemnifying
Party, who shall conduct the defense of such claim or litigation, shall be
approved by the Indemnified Party, whose approval shall not unreasonably be
withheld. The Indemnified Party may participate in such defense at such party's
expense; provided, however, that the Indemnifying Party shall bear the expense
of such defense of the Indemnified Party if representation of both parties by
the same counsel would be inappropriate due to actual or potential conflicts of
interest. The failure of any Indemnified Party to give notice as provided herein
shall not relieve the Indemnifying Party of its obligations under this
Agreement, unless such failure is materially prejudicial to the ability of the
Indemnifying Party to defend the action. No Indemnifying Party, in the defense
of any such claim or litigation, shall, except with the consent of each
Indemnified Party, consent to entry of any judgment or enter into any settlement
which does not include as an unconditional term thereof the giving by the
claimant or plaintiff to such Indemnified Party of a release from all liability
in respect of such claim or litigation.

         7.4      If the indemnification provided for in Section 7.1 or 7.2 is
unavailable or insufficient to hold harmless an Indemnified Party, then each
Indemnifying Party shall contribute to the amount paid or payable by such
Indemnified Party as a result of the expenses, claims, losses, damages or
liabilities (or actions or proceedings in respect thereof) referred to in
Section 7.1 or 7.2, in such proportion as is appropriate to reflect the relative
fault of the Company on the one hand and the sellers of Registrable Securities
on the other hand in connection with statements or omissions which resulted in
such losses, claims, damages or liabilities (or actions or proceedings in
respect thereof) or expenses, as well as any other relevant equitable
considerations.

<PAGE>   14

                                      -14-

The relative fault shall be determined by reference to, among other things,
whether the untrue or alleged untrue statement of a material fact or the
omission or alleged omission to state a material fact relates to information
supplied by the Company or the sellers of Registrable Securities and the
parties' relative intent, knowledge, access to information and opportunity to
correct or prevent such untrue statement or omission. The Company and the
Holders agree that it would not be just and equitable if contributions pursuant
to this Section 7.4 were to be determined by pro rata allocation (even if all
Sellers of Registrable Securities were treated as one entity for such purpose)
or by any other method of allocation which does not take account of the
equitable considerations referred to in the first sentence of this Section 7.4.
The amount paid by an Indemnified Party as a result of the expenses, claims,
losses, damages or liabilities (or actions or proceedings in respect thereof)
referred to in the first sentence of this Section 7.4 shall be deemed to include
any legal or other expenses reasonably incurred by such Indemnified Party in
connection with investigating or defending any claim, action or proceeding which
is the subject of this Section 7.4. No person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Securities Act)
shall be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation. The obligations of sellers of Registrable
Securities to contribute pursuant to this Section 7.4 shall be several in
proportion to the respective amount of Registrable Securities sold by them
pursuant to a registration statement.

                                    ARTICLE 8

                              INFORMATION BY HOLDER

         The Holder or Holders of Registrable Securities included in any
registration shall furnish in writing to the Company such information regarding
such Holder or Holders and the distribution proposed by such Holder or Holders
as the Company may reasonably request in writing and as shall be reasonably
required in connection with any registration or qualification referred to in
this Agreement.

                                    ARTICLE 9

                               RULE 144 REPORTING

         With a view to making available the benefits of certain rules and
regulations of the Commission which may at any time permit the sale of
securities of the Company to the public without registration, after such time as
a public market exists for the Common Stock of the Company, the Company agrees
to:

         9.1      Make and keep public information available as those terms are
understood and defined in Rule 144 under the Securities Act, at all times after
the effective date of the Initial Public Offering; and

         9.2      Use its best efforts to then file with the Commission in a
timely manner all reports and other documents required of the Company under the
Securities Act and the Securities Exchange Act of 1934, as amended (the
"Exchange Act"), at any time after it has become subject to such reporting
requirements; and

<PAGE>   15

                                      -15-

         9.3      So long as a Holder owns any Registrable Securities, furnish
to the Holder forthwith upon request a written statement by the Company as to
its compliance with the reporting requirements of said Rule 144 (at any time
after ninety (90) days following the effective date of the first registration
statement filed by the Company for an offering of its securities to the general
public), and of the Securities Act and the Exchange Act (at any time after it
has become subject to such reporting requirements), a copy of the most recent
annual or quarterly report of the Company, and such other reports and documents
of the Company as a Holder may reasonably request in availing itself of any rule
or regulation of the Commission allowing a Holder to sell any such securities
without registration.

                                   ARTICLE 10

                         TRANSFER OF REGISTRATION RIGHTS

         The rights to cause the Company to register securities granted Holders
under Articles 2, 3 and 4 hereof may be assigned in connection with any
permitted transfer or assignment of the Holder's Registrable Securities. All
transferees and assignees of the rights to cause the Company to register
securities granted Holders under Articles 2, 3 and 4 hereof, as a condition to
the transfer of such rights, shall agree in writing to be bound by the
agreements set forth herein. For the purposes of determining the Holders with
the power to exercise any of the rights (including the rights granted under
Section 2.1(b)(ii) and Section 11.2) granted under this Agreement to any of
Manheim, ADP, Cox, Landmark and KPCB, such rights may be exercised by a Holder
or Holders holding a majority in interest of all Registrable Securities
collectively held by each such party and its respective transferees as of the
date on which the Holder or Holders desire to exercise such rights.

                                   ARTICLE 11

                                  MISCELLANEOUS

         11.1     Aggregation. Shares of capital stock of the Company owned by
partnerships and corporations having substantially common ownership interests or
managed by the same principals and owned by individual investors affiliated with
one another may be aggregated for the purposes of calculating the aggregate
percentage of capital stock of the Company owned by any Holder and any permitted
transferee hereunder.

         11.2     Waivers and Amendments. With the written consent of (i) the
Company and the Holders holding a majority of the Registrable Securities held by
all the Holders and (ii) for so long as they remain Holders of Registrable
Securities, each of Manheim, ADP, Cox, Landmark and KPCB, the obligations and
rights of the Company and the Holders under this Agreement may be waived (either
generally or in a particular instance, either retroactively or prospectively,
and either for a specified period of time or indefinitely) or amended; provided,
however, that no such waiver or amendment shall reduce the aforesaid number of
shares the Holders of which are required to consent to any waiver or amendment,
without the consent of all the Holders. Upon the effectuation of each such
waiver or amendment, the Company shall promptly give written notice thereof to
any Holders who have not previously consented thereto in writing.
Notwithstanding

<PAGE>   16

                                      -16-

the foregoing, any party hereto may waive any of its rights hereunder by a
statement in writing signed by such party. Such waiver shall only be effective
with respect to the rights specifically set forth in such writing and shall not
waive, amend or prejudice any other rights the party may have hereunder.

         11.3     Damages. The Company recognizes and agrees that the Holders
will not have an adequate remedy if the Company fails to comply with the
provisions of this Registration Rights Agreement regarding registration and that
damages will not be readily ascertainable, and the Company expressly agrees
that, in the event of such failure, the Company shall not oppose an application
by any Holder, or any other person entitled to the benefits of these provisions,
requiring specific performance of any provisions hereof or enjoining the Company
from continuing to commit any such breach of such provisions.

         11.4     Grant of Subsequent Registration Rights. The parties hereto
agree that additional Holders may, with the consent of the Company and the
Holders of a majority of the Registrable Securities then outstanding, be added
as parties to the Agreement with respect to any or all securities of the Company
held by them; provided, however, that from and after the date of this Agreement
the Company shall not grant registration rights to subsequent holders of
securities in the Company pursuant to this Agreement or otherwise unless such
rights are subordinate to or pari passu with and not inconsistent with the
rights of the Holders of Registrable Securities or the grant of such rights is
consented to by the Holders of all of the Registrable Securities, and provided
that for the purposes of Sections 2.2(b), 3.2(b), and 4.2(b), such subsequent
holders of securities in the Company (other than qualifying transferees of the
Holders as of the date of this Agreement) shall not be entitled to include
Registrable Securities in a registration unless all of the Registrable
Securities of the Requesting Holders who are not such subsequent holders of
securities in the Company are first included in the registration.
Notwithstanding the foregoing, so long as any Registrable Securities exist, the
Company shall not enter into any agreement providing registration rights to
subsequent holders of securities in the Company unless such agreement provides
for the participation of Holders of Registrable Securities on terms materially
the same to those of Section 2.2 hereof in any underwritten registration
effected pursuant to such agreement.

         11.5     Market Standoff. Each Holder agrees, in connection with the
Company's Initial Public Offering and upon request of the underwriters managing
the Initial Public Offering, not to sell, make any short sale of, loan, grant
any option for the purchase of, or otherwise dispose of any Registrable
Securities without the prior written consent of such underwriters, for such
period of time (not to exceed one hundred and eighty (180) days) from the
effective date of the final prospectus for such Initial Public Offering as may
be requested by such underwriters, and to enter into such further lock-up
agreements, containing terms customary in similar underwritten public offerings,
as may be requested by such underwriters; provided, however, that each Holder
shall only be subject to the foregoing lock-up limitations if and to the extent
that the underwriters have requested that all of the other Holders be bound by
such limitations.

         11.6     Governing Law. This Agreement shall be governed by and
construed in accordance with the laws of the State of Delaware applicable to
contracts made and to be performed entirely within the state without regard to
principles of conflicts of law.

<PAGE>   17

                                      -17-

         11.7     Successors and Assigns. Except as otherwise expressly provided
herein, the provisions hereof shall inure to the benefit of, and be binding
upon, the successors, assigns, heirs, executors and administrators of the
parties hereto.

         11.8     Entire Agreement. This Agreement constitutes the full and
entire understanding and agreement between the parties with regard to the
subject matter hereof.

         11.9     Notices. All notices, requests, consents, and other
communications hereunder shall be in writing and shall be deemed effectively
given and received upon delivery in person, or one business day after delivery
by national overnight courier service or by telecopier transmission with
acknowledgment of transmission receipt, or three business days after deposit via
certified or registered mail, return receipt requested, in each case addressed
as follows:

                  if to the Company:

                  AutoTrader.com LLC
                  1400 Lake Hearn Drive, N.E.
                  Atlanta, GA  30319
                  Attention: Victor A. Perry, III

                  if to the Holders, at the address shown in the records of the
                  Company.

or, in any such case, at such other address or addresses as shall have been
furnished in writing by such party to the others.

         11.10    Severability. In case any provision of this Agreement shall be
invalid, illegal or unenforceable, the validity, legality and enforceability of
the remaining provisions of this Agreement shall not in any way be affected or
impaired thereby.

         11.11    Titles and Subtitles. The titles of the sections and
subsections of this Agreement are for convenience of reference only and are not
to be considered in construing this Agreement.

         11.12    Counterparts. This Agreement may be executed in any number of
counterparts, each of which shall be an original, but all of which together
constitute one instrument.

<PAGE>   18

                                     -18-

         IN WITNESS WHEREOF, the parties have executed this Agreement as of the
date first above written.

                                    AUTOTRADER.COM, LLC

                                    By: /s/ Dennis Berry
                                       -----------------------------------------
                                       Name: Dennis Berry
                                       Title: Member of Management Committee

                                    MANHEIM AUCTIONS, INC.

                                    By: /s/ Dennis Berry
                                       -----------------------------------------
                                       Name: Dennis Berry
                                       Title: President

                                    ADP, INC.

                                    By: /s/ Allan Stejskal
                                       -----------------------------------------
                                       Name: Allan Stejskal
                                       Title: VP Dealer Services

                                    TPI, INC.

                                    By: /s/ Jay Smith
                                       -----------------------------------------
                                       Name: Jay Smith
                                       Title: President

                                    LTM COMPANY, L.P.

                                    By: /s/ Guy R. Friddell, III
                                       -----------------------------------------
                                       Name: Guy R. Friddell, III
                                       Title: Vice President

                                    KPCB HOLDINGS, INC., as nominee

                                    By: /s/ Joseph S. Lacob
                                       -----------------------------------------
                                       Name: Joseph S. Lacob
                                       Title: Senior Vice President

                                    ATC HOLDINGS, INC.

                                    By: /s/ Guy R. Friddell, III
                                       -----------------------------------------
                                       Name: Guy R. Friddell, III
                                       Title: Vice President

<PAGE>   19

                                    EXHIBIT A

                           Registration Rights Holders

         Manheim Auctions, Inc.

         ADP, Inc.

         TPI, Inc.

         LTM Company, L.P.

         ATC Holdings, Inc.

         KPCB Holdings, Inc.<PAGE>   1
                                                                   EXHIBIT 10.10

                            ASSET PURCHASE AGREEMENT

                             DATED NOVEMBER 1, 1999

                                     BETWEEN

                               AUTOTRADER.COM, LLC

                                       AND

                       INTELLISOFT DEVELOPMENT CORPORATION

<PAGE>   2

<TABLE>
<S>                                                                                                               <C>
SECTION 1:  DEFINED TERMS........................................................................................ 1
         1.1      Terms Defined in this Section.................................................................. 1
         1.2      Terms Defined Elsewhere in this Agreement...................................................... 4
         1.3      Rules of Construction.......................................................................... 5

SECTION 2:  SALE AND PURCHASE OF ASSETS.......................................................................... 5
         2.1      Agreement to Sell and Buy...................................................................... 5
         2.2      Excluded Assets................................................................................ 6
         2.3      Purchase Price................................................................................. 7
         2.4      Adjustments and Prorations..................................................................... 7
                  (a)      Working Capital Adjustment............................................................ 7
                  (b)      Prorations............................................................................ 7
                  (c)      Manner of Determining Adjustments and Prorations...................................... 8
         2.5      Payment of Initial Payment..................................................................... 9
                  (a)      Payments to Reflect Adjustments....................................................... 9
         2.6      Assumption of Liabilities and Obligations...................................................... 9

SECTION 3:  REPRESENTATIONS AND WARRANTIES OF SELLER........................................................... .10
         3.1      Organization, Standing and Authority.......................................................... 10
         3.2      Authorization and Binding Obligation.......................................................... 10
         3.3      Absence of Conflicting Agreements............................................................. 10
         3.4      Licenses and Assumed Contracts................................................................ 11
         3.5      Real and Personal Property.................................................................... 10
         3.6      Intangibles................................................................................... 11
         3.7      Consents...................................................................................... 11
         3.8      Information on the Business................................................................... 12
                  (a)      Customers; Billing Rate.............................................................. 11
                  (b)      Account Balances..................................................................... 11
                  (c)      Commitments.......................................................................... 12
         3.9      Insurance and Bonds........................................................................... 12
         3.10     Personnel Matters............................................................................. 12
         3.11     Claims and Legal Actions...................................................................... 12
         3.12     Compliance with Laws.......................................................................... 12
         3.13     Taxes and Tax Returns......................................................................... 13
         3.14     Conduct of Business in Ordinary Course........................................................ 13
         3.15     Transactions with Affiliates.................................................................. 13
         3.16     Financial Statements.......................................................................... 13
         3.17     Broker........................................................................................ 13
         3.18     Year 2000 Compliance.......................................................................... 13

SECTION 4:  REPRESENTATIONS AND WARRANTIES OF BUYER............................................................. 14
         4.1      Organization, Standing and Authority.......................................................... 14
         4.2      Authorization and Binding Obligation.......................................................... 14
         4.3      Absence of Conflicting Agreements............................................................. 14
         4.4      Litigation.................................................................................... 14

SECTION 5:  COVENANTS AND AGREEMENTS............................................................................ 15
         5.1      Confidentiality............................................................................... 15
</TABLE>

<PAGE>   3

<TABLE>
<S>      <C>                                                                                                     <C>
         5.2      Accounts Receivable........................................................................... 15
         5.3      Employee Matters.............................................................................. 15
         5.4      Allocation.................................................................................... 15
         5.5      Further Assurances............................................................................ 15
         5.6      Sale of Website............................................................................... 15

SECTION 6:  CLOSING AND CLOSING DELIVERIES...................................................................... 15
         6.1      Closing....................................................................................... 15
         6.2      Deliveries by Seller.......................................................................... 16
                  (a)      Transfer Documents................................................................... 16
                  (b)      Consents............................................................................. 16
                  (c)      Power of Attorney.................................................................... 16
                  (d)      Secretary's Certificate.............................................................. 16
                  (e)      Contracts, Business Records, Etc..................................................... 16
                  (f)      Employment Agreements................................................................ 16
                  (g)      Lease Agreement...................................................................... 16
         6.3      Deliveries by Buyer........................................................................... 16
                  (a)      Purchase Consideration............................................................... 16
                  (b)      Assumption Agreements................................................................ 16
                  (c)      Employment Agreements................................................................ 17
                  (d)      Lease Agreement...................................................................... 17
                  (e)      Officer's Certificates............................................................... 17

SECTION 7:  SURVIVAL OF REPRESENTATIONS AND WARRANTIES,
         AND INDEMNIFICATION.................................................................................... 17
         7.1      Representations and Warranties................................................................ 17
         7.2      Indemnification by Seller..................................................................... 17
         7.3      Indemnification by Buyer...................................................................... 17
         7.4      Procedure for Indemnification................................................................. 18
         7.5      Affiliates.................................................................................... 18
         7.6      Guaranty...................................................................................... 18
                  (a)      Terms................................................................................ 18
                  (b)      Waivers.............................................................................. 19
                  (c)      Representations and Warranties....................................................... 19

SECTION 8:  MISCELLANEOUS....................................................................................... 19
         8.1      Fees and Expenses............................................................................. 19
         8.2      Notices....................................................................................... 19
         8.3      Benefit and Binding Effect.................................................................... 20
         8.4      Laws of the State of Illinois................................................................. 20
         8.5      Entire Agreement.............................................................................. 21
         8.6      Waiver of Compliance; Consents................................................................ 21
         8.7      Bulk Sales Law................................................................................ 21
         8.8      Severability.................................................................................. 21
         8.9      Counterparts.................................................................................. 21
         8.10     Arbitration Procedure......................................................................... 21
</TABLE>

                                     - ii -
<PAGE>   4

<TABLE>
<CAPTION>
                                    LIST OF SCHEDULES
                                    -----------------
               <S>                  <C>
               Schedule 2.2  --     Excluded Assets
               Schedule 2.3  --     Performance Standards
               Schedule 3.3  --     Conflicting Agreements
               Schedule 3.4  --     Licenses and Contracts
               Schedule 3.5  --     Real and Personal Property
               Schedule 3.6  --     Intangibles
               Schedule 3.7  --     Consents
               Schedule 3.8  --     Information on the Business
               Schedule 3.9  --     Insurance and Bonds
               Schedule 3.10 --     Personnel Matters
               Schedule 3.11 --     Claims and Legal Actions
               Schedule 3.12 --     Compliance with Laws
               Schedule 3.15 --     Transactions with Affiliates

<CAPTION>
                                     EXHIBIT
                                     -------
               <S>                  <C>
               Exhibit A     --     Territory
</TABLE>

                                    - iii -

<PAGE>   5

                            ASSET PURCHASE AGREEMENT

         This ASSET PURCHASE AGREEMENT (this "AGREEMENT") is dated November 1,
1999 by and between AUTOTRADER.COM, LLC, a Delaware limited liability company
("BUYER"), and INTELLISOFT DEVELOPMENT CORPORATION, an Illinois corporation
("SELLER").

                                    RECITALS:

         A.       Seller owns and operates a business that publishes, builds,
designs, maintains and manages various websites, including, without limitation,
the "http://www.wwwheels.com" website and the "http://www.specialcar.com"
website (collectively, the "WEBSITES") for, and provides related marketing
services to, automobile dealerships and other related customers (collectively,
the "BUSINESS").

         B.       Seller desires to sell, and Buyer wishes to buy, substantially
all of Seller's assets, tangible and intangible, real, personal and mixed, used
or useful in the operation of the Business, on the terms and conditions
hereinafter set forth.

                                   AGREEMENTS:

         In consideration of the covenants and agreements contained herein,
Buyer and Seller agree as follows:

SECTION 1: DEFINED TERMS

         1.1      TERMS DEFINED IN THIS SECTION. The following terms shall have
the following meanings in this Agreement:

         "ACCOUNTS RECEIVABLE" means all rights of Seller to payment for
services to be provided by the Buyer's W3 Division directly or indirectly
through the Business after the Closing Date, including for (i) services provided
to Customers of the Business, (ii) the sale of any Websites, and (iii) other
services related to the Business or the Purchased Assets.

         "AFFILIATE" means any person, corporation or partnership directly or
indirectly, controlling, controlled by or under common control with either Buyer
or Seller, as the case may be, or any of its officers, directors, shareholders,
or general partners. As used in this definition, "control" (including, with
correlative meanings, "controlled by" and "under common control with") shall
mean possession, directly or indirectly, of power to direct or cause the
direction of management or policies (whether through ownership of securities or
partnership or other common interests, by contract or otherwise).

         "ASSUMED CONTRACTS" means all Contracts listed in Schedule 3.4 hereto.

         "CLOSING ACCOUNTS RECEIVABLE" means all rights of Seller to payment for
services provided by Seller directly or indirectly through the Business prior to
the Closing Date, including

<PAGE>   6

for (i) services provided to Customers of the Business, (ii) the sale of any
Websites, and (iii) other services related to the Business or the Purchased
Assets.

         "CLOSING" means the consummation of the transactions contemplated to
occur on the Closing Date in accordance with the terms hereof.

         "CLOSING DATE" means the date of the Closing.

         "CODE" means the Internal Revenue Code of 1986, as amended, and the
regulations thereunder, or any subsequent legislative enactment thereof, as in
effect from time to time.

         "COMPENSATION ARRANGEMENT" means any plan or compensation arrangement
other than an Employee Plan, whether written or unwritten, which provides to
employees, former employees, officers, independent contractors, directors and
shareholders of Seller or any entity related to Seller (under the terms of
Sections 414(b), (c), (m) or (o) of the Code) any compensation or other
benefits, whether deferred or not, in excess of base salary or wages and
excluding overtime pay, including any bonus or incentive plan, stock rights
plan, deferred compensation arrangement, life insurance, stock purchase plan,
severance pay plan and any other perquisites and employee fringe benefit plan.

         "CONSENTS" means all of the consents, permits or approvals of
government authorities and other third parties necessary to transfer the
Purchased Assets to Buyer or otherwise to consummate the transaction
contemplated hereby.

         "CONTRACTS" means all Licenses, deeds, leases, easements,
rights-of-way, customer agreements, and other agreements, written or oral
(including any amendments and other modifications thereto) to which Seller is a
party or which are binding upon Seller and which relate to the Purchased Assets
or the Business, and including, without limitation, all web-development and
web-hosting contracts and other production contracts.

         "CUSTOMER" means any individual, entity or organization to whom Seller
provides services or products through the Business, or with respect to the
second paragraph of Schedule 2.3 and Exhibit A of the Employment Agreement, any
individual, entity or organization to whom the W3 Division of Buyer provides
services or products through the Business.

         "EFFECTIVE TIME" means 12:01 a.m., Eastern Standard Time, on the
Closing Date.

         "EMPLOYEE PLAN" means any pension, retirement, profit-sharing, deferred
compensation, vacation, severance, bonus, incentive, medical, vision, dental,
disability, life insurance or any other employee benefit plan as defined in
Section 3(3) of ERISA to which either of the Seller or any entity related to
Seller (under the terms of Sections 414 (b), (c), (m) or (o) of the Code)
contributes or which either of Seller or any entity related to Seller (under the
terms of Sections 414 (b), (c), (m) or (o) of the Code) sponsors or maintains,
or by which Seller or any such entity is otherwise bound.

         "ENCUMBRANCES" means any pledge, claim, liability, mortgage, lien,
charge, encumbrance, restriction on transfer, or security interest of any kind
or nature whatsoever.

                                     - 2 -
<PAGE>   7

         "ENFORCEABILITY EXCEPTIONS" means the exceptions or limitations to the
enforceability of contracts under bankruptcy, insolvency, reorganization,
moratorium or similar laws affecting creditors' rights generally, and by the
application of general principles of equity.

         "ERISA" means the Employee Retirement Income Security Act of 1974, as
amended, and the rules and regulations thereunder, as in effect from time to
time.

         "EXCLUDED ASSETS" means certain assets of Seller that are not being
sold, transferred, or otherwise conveyed to Buyer hereunder, as specified in
Section 2.2.

         "EXCLUDED LIABILITIES" means certain liabilities of Seller that are not
being assumed, transferred or otherwise conveyed to Buyer hereunder, as
specified in Section 2.6.

         "GAAP" means generally accepted accounting principles in the United
States of America, as in effect at the relevant date.

         "INTANGIBLES" means all copyrights, trademarks, trade names, licenses,
permits, privileges, and other similar intellectual property rights and
interests (and any goodwill associated with any of the foregoing) applied for,
issued to, or owned by Seller or under which Seller is licensed or franchised
and used or held for use by Seller in the operation of the Business as currently
conducted.

         "LEGAL REQUIREMENTS" means applicable common law and any applicable
statute, ordinance, code or other law, rule, regulation, order, technical or
other standard, requirement or procedure enacted, adopted, promulgated or
applied by any governmental authority, including any applicable order, decree or
judgment which may have been handed down, adopted or imposed by any governmental
authority.

         "LICENSES" means all licenses, authorizations and permits relating to
the Business granted to Seller by any governmental instrumentality, and all
applications (if any) submitted by Seller for any of the foregoing.

         "PERMITTED ENCUMBRANCES" means (i) liens for current taxes and other
government charges not yet due and payable or which are being contested in good
faith in appropriate proceedings and for which adequate reserves have been set
aside in the Business's financial statements, (ii) materialmen's, mechanics',
carriers', workmen's, repairmen's and other similar person's liens arising in
the ordinary course of business for sums not yet delinquent or being contested
in good faith to the extent reserved against in the Financial Statements, (iii)
Encumbrances arising under the Assumed Contracts, and (iv) liens that relate to
deposits made in the ordinary course of business in connection with workers'
compensation, unemployment insurance and other types of social security.

         "PERSONAL PROPERTY" means all of the equipment (including, without
limitation, electronic and computer apparatus, databases and database systems,
software and software systems, documentation and source codes), tools, vehicles,
furniture, leasehold improvements, inventory, spare parts, and other tangible
personal property which are used or held for use by Seller in the operation of
the Business as currently conducted.

                                     - 3 -
<PAGE>   8

         "PURCHASED ASSETS" means all of the assets (other than the "Excluded
Assets"), tangible and intangible, real, personal and mixed, owned or held by
Seller and used or held for use by Seller in the operation of the Business as
currently conducted, which assets are being sold, transferred, or otherwise
conveyed by Seller to Buyer hereunder, as specified in detail in Section 2.1.

         "REAL PROPERTY" means all of the fee estates and buildings and other
improvements thereon, leasehold interests, easements, licenses, rights to
access, rights-of-way, and other real property interests which are owned or held
by Seller and used or held for use by Seller in the operation of the Business.

         "REVENUE" means any revenue derived from the Business determined in
accordance with Seller's current practices for recording revenue, consistently
applied, as of the Closing Date.

         "TAX" OR "TAXES" means any and all federal, state, local, or foreign
taxes, assessments, deficiencies, fees and other governmental charges or
impositions, together with any interest, additions, or penalties with respect
thereto and any interest in respect of such additions or penalties.

         "TAX RETURN" means any federal, state, or local Tax return, report,
statement and other similar filings required to be filed by Seller with respect
to Taxes.

         "TERRITORY" means the area described on Exhibit A attached hereto.

         1.2      TERMS DEFINED ELSEWHERE IN THIS AGREEMENT. In addition to (i)
the defined terms in the preamble, recitals and Section 1.1 hereof, or (ii)
certain defined terms used solely within a single section hereof, the following
is a list of terms used in this Agreement and a reference to the section hereof
in which such term is defined:

<TABLE>
<CAPTION>
                 Term                                                   Section
         -----------------------                                     --------------
         <S>                                                         <C>
         Assumed Liabilities                                         Section 2.6
         Business                                                    Recital A
         Business Records                                            Section 2.1(g)
         Buyer's Damages                                             Section 7.2
         Cash Equivalents                                            Section 2.2(a)
         Claimant                                                    Section 7.4(a)
         Closing Cash Payment                                        Section 2.5
         Deferred Payment                                            Section 2.3(b)
         Excluded Assets                                             Section 2.2
         Financial Statements                                        Section 3.16
         Guarantor                                                   Section 7.6
         Indemnifier                                                 Section 7.4(a)
         Initial Payment                                             Section 2.3(a)
         Purchase Price                                              Section 2.3
</TABLE>

                                     - 4 -
<PAGE>   9

<TABLE>
         <S>                                                         <C>
         Seller's Damages                                            Section 7.3
         Websites                                                    Recital A
</TABLE>

         1.3      RULES OF CONSTRUCTION. Words used in this Agreement,
regardless of the gender and number specifically used, shall be deemed and
construed to include any other gender and any other number as the context
requires. As used in this Agreement, the word "including" is not limiting, and
the word "or" is both conjunctive and disjunctive. Except as specifically
otherwise provided in this Agreement in a particular instance, a reference to a
section or schedule is a reference to a section of this Agreement or a schedule
hereto, and the terms "hereof," "herein," and other like terms refer to this
Agreement as a whole, including the Schedules to this Agreement, and not solely
to any particular part of this Agreement. The descriptive headings in this
Agreement are inserted for convenience of reference only and are not intended to
be part of or to affect the meaning or interpretation of this Agreement.

SECTION 2:  SALE AND PURCHASE OF ASSETS

         2.1      AGREEMENT TO SELL AND BUY. Subject to the terms and conditions
set forth in this Agreement, Seller hereby agrees to sell, convey, transfer,
assign and deliver to Buyer on the Closing Date, and Buyer agrees to purchase,
all of Seller's rights, title and interest in, to and under the Purchased Assets
(other than the Excluded Assets), free and clear of any Encumbrances (except for
Permitted Encumbrances), more specifically described as follows:

                  (a)      The Personal Property; (b) The Real Property;

                  (c)      The Licenses;

                  (d)      The Assumed Contracts;

                  (e)      The Intangibles;

                  (f)      The Accounts Receivable;

                  (g)      Any and all books and records relating to the conduct
or operations of the Business (except as expressly excluded by Section 2.2(d)),
including any and all executed copies of the Assumed Contracts, any and all
equipment warranties, any and all technical information and data, computer
discs, diagrams, blueprints and schematics relating to the Business
(collectively, the "BUSINESS RECORDS");

                  (h)      Any and all intangible assets of Seller relating to
the Business and not specifically described above, including, without
limitation, all of Seller's goodwill associated with the Business;

                  (i)      Any and all right, title and interest of Seller in
and to the Websites, and any assets used in support of or for the operation of
such Websites;

                                     - 5 -
<PAGE>   10

                  (j)      Any and all Internet, electronic, on-line rights or
domain names associated with the Business, including, without limitation, the
domain names "wwwheels.com" and "specialcar.com";

                  (k)      Any and all existing copy, films, artwork,
photographs and other reproduction materials, tapes, master videos and other
components relating to the Business, whether in possession of Seller;

                  (l)      Any and all existing lists, including lists rented or
owned by Seller, documents and records of Seller relating to users of the
Websites;

                  (m)      Any and all existing lists, mailing lists (in both
printed form and computer media), documents and records of Seller relating to
all past, present or prospective advertisers in the Business and copies of all
call reports and advertiser status reports; and

                  (n)      Any and all existing lists, documents and records of
Seller relating to past, present and prospective purchasers of mailing lists
relating to the Business.

         Notwithstanding anything in this Agreement to the contrary, Seller
retains all of its rights, title and interest in, and possession of, and Seller
does not hereby sell, assign, convey, transfer or deliver to Buyer, any right,
title or interest of Seller in, to or under, the Excluded Assets.

         2.2      EXCLUDED ASSETS. The Purchased Assets shall exclude the
following assets of Seller (collectively, the "EXCLUDED ASSETS"):

                  (a)      Seller's cash and cash equivalents on hand as of the
Effective Time and all other cash in any of Seller's bank or savings accounts;
any and all insurance policies and contracts of insurance and any claims and
rights of Seller thereunder (including any claims and rights of Seller to
reserves, unearned premiums and returns of premiums arising thereunder), letters
of credit, or other similar items and, in each case, any cash surrender value in
regard thereto; and any stocks or bonds, any options, warrants or rights to
acquire any securities, certificates of deposit and similar investments
(collectively, the "CASH EQUIVALENTS");

                  (b)      Any and all Contracts, other than the Assumed
Contracts, specifically identified on Schedule 2.2 hereto;

                  (c)      Any and all Employee Plan, Compensation Arrangement,
and any and all collective bargaining agreements;

                  (d)      Any and all books and records which Seller is
required by law to retain and Seller's corporate name, minute books, other books
and records related to internal corporate matters and financing arrangements,
subject to the right of Buyer to have access and to copy for a period of three
(3) years from the Closing Date;

                  (e)      The Real Property that is the subject of the Lease
Agreement described in Section 6.2(h);

                                     - 6 -
<PAGE>   11

                  (f)      Any and all intercompany accounts between Seller and
any Affiliates of Seller relating to the Business;

                  (g)      All rights of Seller under this Agreement and the
agreements, documents and instruments delivered in connection with the
transactions contemplated hereby;

                  (h)      Any other assets of Seller described on Schedule 2.2
hereto; and

                  (i)      Any and all Closing Accounts Receivable.

         2.3      PURCHASE PRICE. The purchase price (the "PURCHASE PRICE") for
the Purchased Assets is Five Million One Hundred Thousand Dollars ($5,100,000),
and is comprised of the following:

                  (a)      an initial payment of Four Million One Hundred
Thousand Dollars ($4,100,000) (the "INITIAL PAYMENT"), which (i) shall be
adjusted, if necessary, as provided in Section 2.4(b), and (ii) is being paid by
Buyer to Seller at Closing in accordance with Section 2.5 by wire transfer of
immediately available funds; and

                  (b)      a deferred payment of One Million Dollars
($1,000,000) (the "DEFERRED PAYMENT"), which Buyer shall pay to Seller in three
annual installments of Three Hundred Thirty Three Thousand Three Hundred Thirty
Three Dollars ($333,333) each; provided, however, that no such installment will
be paid, and Seller shall irrevocably lose the right hereunder to receive or
claim such installment for any particular year, unless Seller satisfies the
performance standard for that year described in Schedule 2.3 hereto. Each such
installment, if payable by Buyer to Seller in accordance with the prior
sentence, shall be paid on or prior to January 3, 2000, February 15, 2001 and
February 15, 2002, respectively.

         2.4      PRORATIONS.

                  (a)      Intentionally omitted.

                  (b)      PRORATIONS. The Initial Payment shall be increased or
decreased as required to effectuate the proration of income and expenses as set
forth herein. All income and expenses arising from the operation of the Business
through the Effective Time, including, without limitation, Customer fees,
advertising fees, service charges, rental charges, utility charges, real and
personal property taxes and assessments levied against the Purchased Assets,
salesmen advances, property and equipment rentals, applicable copyright or other
fees, sales and services charges, taxes (except for taxes arising from the
transfer of the Purchased Assets hereunder and from any taxes on income earned
by Seller), and similar prepaid and deferred items, shall be prorated between
Buyer and Seller in accordance with the principle that Seller shall be
responsible for all expenses, costs, obligations and liabilities, and shall be
entitled to receive all income, allocable to or arising from the operation of
the Business for the period prior to the Effective Time, and Buyer shall be
responsible for all expenses, costs, obligations and liabilities, and shall be
entitled to receive all income, allocable to or arising from the operation of
the Business after the Effective Time; provided, however, that there shall be no
adjustment for, and Seller shall remain solely liable with respect to any
obligations arising under any Contracts not included in the Assumed Contracts,
or any other obligation or liability not being assumed by Buyer in accordance
with Section 2.6 whether such obligations arise before, at or after the

                                     - 7 -
<PAGE>   12

Effective Time, and Buyer shall be entitled to all income from Accounts
Receivable included in the Purchased Assets.

                  (c)      MANNER OF DETERMINING PRORATIONS. The Initial
Payment, taking into account the prorations pursuant to Section 2.4(b), will be
determined in accordance with the following procedures:

                           (1)      Intentionally Omitted.

                           (2)      Within sixty (60) days after Closing, Buyer
         shall prepare and deliver to Seller a final settlement statement (the
         "FINAL SETTLEMENT STATEMENT"), which shall be prepared by Buyer in good
         faith and shall (A) contain all information reasonably necessary to
         determine the prorations to the Initial Payment under Section 2.4(b),
         and (B) be certified by Buyer to be true and complete to Buyer's
         knowledge as of the date thereof.

                           (3)      Within thirty (30) days after the date that
         the Final Settlement Statement is delivered by Buyer to Seller pursuant
         to Section 2.4(c)(2) hereof, Seller shall complete its examination
         thereof and may deliver to Buyer a written report setting forth any
         proposed adjustments to the Final Settlement Statement. If Seller
         notifies Buyer of its acceptance of the amount shown on the Final
         Settlement Statement, or if Seller fails to deliver its report of
         proposed adjustments to the Final Settlement Statement within the
         thirty-day period specified in the preceding sentence, the amount shown
         on the Final Settlement Statement shall be conclusive and binding on
         the parties as of the last day of the thirty-day period.

                           (4)      After Closing, Buyer and Seller shall use
         good faith efforts to resolve any dispute relating to the Final
         Settlement Statement or otherwise involving the determination of the
         Initial Payment. If the parties are unable to resolve the dispute
         within fifteen (15) days following the delivery of Seller's written
         report pursuant to Section 2.4(c)(3), Buyer and Seller shall jointly
         designate an independent certified public accountant in the Chicago,
         Illinois business area, who shall be knowledgeable in the operation of
         businesses that design and operate websites, to resolve the dispute. If
         the parties are unable to agree on the designation of an independent
         certified public accountant, the selection of the accountant to resolve
         the dispute shall be submitted to arbitration in the Chicago, Illinois
         business area in accordance with the commercial arbitration rules of
         the American Arbitration Association. The accountant's resolution of
         the dispute shall be final and binding on the parties, and a judgment
         may be entered thereon in any court of competent jurisdiction. Any fees
         of this accountant, and, if necessary, for arbitration to pick such
         accountant, shall be split equally between the parties.

                           (5)      Seller and Buyer shall reasonably cooperate
         with each other to enable the other party to review or prepare, as
         applicable, the Final Settlement Statement, including, without
         limitation, by providing the other party with all books, records,
         accounts and other information reasonably requested by the other party
         to enable it to compute the prorations to the Initial Payment
         contemplated by Section 2.4(b).

                                     - 8 -
<PAGE>   13

         2.5      PAYMENT OF INITIAL PAYMENT. At the Closing, Buyer shall pay or
         cause to be paid to or for the account of Seller the amount of the
         Initial Payment (such amount, the "CLOSING CASH PAYMENT") by federal
         wire transfer of immediately available funds pursuant to wire transfer
         instructions which shall have been delivered by Seller to Buyer not
         fewer than two (2) business days before the Closing Date.

                  (a)      [PAYMENTS TO REFLECT PRORATIONS

                           (i)      If the Initial Payment as finally determined
pursuant to Section 2.4 exceeds the Closing Cash Payment, Buyer shall pay to
Seller, in immediately available funds within five (5) days after the date on
which the Initial Payment is finally determined pursuant to Section 2.4, the
difference between the Initial Payment (as finally determined) and the Closing
Cash Payment.

                           (ii)     If the Initial Payment as finally determined
                                    pursuant to Section 2.4 is less than the
Closing Cash Payment, Seller shall pay to Buyer, in immediately available funds
within five (5) days after the date on which the Initial Payment is finally
determined pursuant to Section 2.4, the difference between the Initial Payment
(as finally determined) and the Closing Cash Payment.]

         2.6      ASSUMPTION OF LIABILITIES AND OBLIGATIONS. As of the Effective
Time, Buyer shall assume, pay, discharge and perform (i) all the obligations and
liabilities of Seller under the Assumed Contracts insofar as they relate to the
time period after the Effective Time, (ii) all obligations and liabilities of
Seller to any Customer of the Business for any advance payments or deposits, if
and to the extent that an adjustment was made to the Initial Payment with
respect to such advance payments or deposits pursuant to Section 2.4(b) above,
and (iii) all obligations and liabilities arising out of events occurring after
the Effective Time related to Buyer's ownership of the Purchased Assets or its
operation of the Business after the Effective Time (collectively, the "ASSUMED
LIABILITIES"). All other obligations and liabilities of Seller (collectively,
the "EXCLUDED LIABILITIES"), including, without limitation, (a) obligations with
respect to the Excluded Assets, including under any Contract not included in the
Assumed Contracts, (b) any obligations under the Assumed Contracts relating to
the time period prior to the Effective Time, (c) any claims or pending
litigation or proceedings relating to the operation of the Business prior to the
Effective Time, and (d) all accounts payable to Affiliates of Seller and loans
payable by Seller, shall remain and be the obligations and liabilities solely of
Seller.

SECTION 3:  REPRESENTATIONS AND WARRANTIES OF SELLER

         Seller represents and warrants to Buyer, to the knowledge of its
President, John Hentrich, as follows:

         3.1      ORGANIZATION, STANDING AND AUTHORITY. Seller is a corporation
duly organized, validly existing and in good standing under the laws of the
State of Illinois, and is qualified to conduct business in Illinois. Seller has
all requisite corporate power and authority (i) to own, lease and use the
Purchased Assets as presently owned, leased and used, (ii) to conduct and
operate the Business as presently conducted and operated, and (iii) to execute,
deliver and perform this Agreement and the documents contemplated hereby in
accordance with their

                                     - 9 -
<PAGE>   14

respective terms. Seller is not a participant in any joint venture or
partnership with any other person or entity with respect to any part of the
Business's operations, the Purchased Assets or the Assumed Liabilities.

         3.2      AUTHORIZATION AND BINDING OBLIGATION. The execution, delivery
and performance of this Agreement and the documents contemplated hereby by
Seller have been duly authorized by all necessary corporate actions on the part
of Seller. This Agreement has been and the documents contemplated hereby will be
upon the execution and delivery thereof on behalf of Seller, duly executed and
delivered by Seller and constitute or will constitute, as applicable, the legal,
valid and binding obligation of Seller, enforceable against Seller in accordance
with their respective terms, except to the extent such enforceability may be
limited by Enforceability Exceptions.

         3.3      ABSENCE OF CONFLICTING AGREEMENTS. Except as set forth in
Schedule 3.3 or Schedule 3.7, the execution, delivery and performance of this
Agreement and the documents contemplated hereby and the consummation by Seller
of the transactions contemplated hereby (with or without the giving of notice,
the lapse of time, or both): (i) do not require the consent of, notice to, or
filing with any governmental authority or any other third party under any
License or other Contract; (ii) do not conflict with any provision of Seller's
articles of incorporation or bylaws, each as currently in effect; (iii) assuming
receipt of all Consents listed in Schedule 3.7, will not conflict with, result
in a breach of, or constitute a default under any Legal Requirement to which
Seller is bound; (iv) assuming receipt of all Consents listed in Schedule 3.7,
will not conflict with, constitute grounds for termination of, result in a
breach of, constitute a default under, or accelerate or permit the acceleration
of any performance required by the terms of any License or other Contract; and
(v) assuming receipt of all Consents listed in Schedule 3.7, will not result in
the creation of any Encumbrance upon the Purchased Assets.

         3.4      LICENSES AND ASSUMED CONTRACTS. Schedule 3.4 contains a list
or description of all Licenses and all Contracts, except for employment
contracts described in Schedule 3.10. Seller has delivered to Buyer copies of
the written Licenses and written Contracts listed on Schedule 3.4 (together with
all amendments thereto). The Licenses and Assumed Contracts listed or described
on Schedule 3.4, together with the agreements described in the exceptions listed
above, comprise all licenses and contracts necessary to own and operate the
Business as currently conducted. The Licenses and Assumed Contracts are in full
force and effect and are valid, binding and enforceable against Seller and, to
the knowledge of Seller, the other parties thereto in accordance with their
terms, except to the extent such enforceability may be limited by the
Enforceability Exceptions. Except as described on Schedule 3.4, none of the
Licenses or Assumed Contracts will be breached by virtue of the consummation of
the transactions contemplated hereby or by virtue of the assignment thereof by
Seller to Buyer pursuant hereto. Except as disclosed on Schedule 3.4, (i) there
is not under any Assumed Contract any default by Seller or, to Seller's
knowledge, any other party thereto which would have a material adverse effect on
the Business, and (ii) Seller is in compliance with the material terms of the
Licenses.

         3.5      REAL AND PERSONAL PROPERTY. Schedule 3.5 contains descriptions
of all material items of Personal Property owned by Seller as of the date
hereof. Seller holds no Real Property in connection with the operation of the
Business other than the Real Property described in Section 2.2(e). Except for
tangible Personal Property leased by Seller under leases listed in

                                     - 10 -
<PAGE>   15

Schedule 3.5, Seller has good and marketable title to all of the tangible
Personal Property, free and clear of all Encumbrances, except for Permitted
Encumbrances. Except as specified on Schedule 3.5, all tangible Personal
Property is (a) in good condition and repair (ordinary wear and tear excepted),
and (b) available for immediate use in the same manner as currently used in the
operation of the Business.

         3.6      INTANGIBLES. Schedule 3.6 contains a description of the
Intangibles (exclusive of those required to be listed in Schedule 3.4 and
inclusive of those relating to software used in connection with the Business),
all of which are valid and in full force and effect and uncontested except as
described in Schedule 3.11. None of the Intangibles infringes upon any
trademarks, copyrights, patents or any other rights or other Intangibles of any
other person, and none is subject to any outstanding order, decree, judgment,
stipulation, injunction, written restriction or agreement restricting the scope
of use thereof. Except as described in Schedule 3.6, Seller has not granted any
license, franchise or permit to any person or entity to use any of Seller's
Intangibles and Seller has the right to assign and transfer the Intangibles in
accordance with the terms of this Agreement.

         3.7      CONSENTS. Except for the Consents described in Schedule 3.7,
no consent, approval, permit or authorization of, or filing with any
governmental authority or any other third party is required to be obtained by
Seller (i) to consummate this Agreement and the transactions contemplated
hereby, (ii) to permit Seller to assign or transfer the Purchased Assets to
Buyer, or (iii) to enable Buyer to conduct or operate the Business in
essentially the same manner as the Business is currently conducted or operated.

         3.8      INFORMATION ON THE BUSINESS.

                  (a)      CUSTOMERS; BILLING RATE. The Business (i) has at
least 320 Customers, and (ii) has a billing rate for Customers as described on
Schedule 3.8. The Business generated Revenues of at least $1,338,812.70 for the
ten (10) consecutive months ending on October 31, , 1999.

                  (b)      ACCOUNT BALANCES. All the account balances of
Customers to the Business are actual and bona fide receivables representing
obligations for services rendered in the regular course of Seller's business, in
the total dollar amount thereof shown on the books of Seller and are collectible
in full in the ordinary course, subject to Enforceability Exceptions.

                  (c)      COMMITMENTS. Except as described on Schedule 3.8,
there are no unfulfilled binding material commitments for capital improvements
which Seller is obligated to make in connection with the Business. There are no
obligations or liabilities to Customers which are material to the operation of
the Business, except: (i) with respect to deposits made by such Customers or
such other users; and (ii) the obligation to supply services to Customers in the
ordinary course of business. Except with respect to deposits and any other item
which is to be adjusted for pursuant to Section 2.4 hereof, Seller has no
obligation or liability for the refund of monies or for the provision of rebates
to Customers of the Business.

                                     - 11 -
<PAGE>   16

         3.9      INSURANCE AND BONDS. Schedule 3.9 comprises a list of all
insurance policies of Seller, currently in full force and effect, which insure
the Business or any part of the Purchased Assets, and a list of all surety and
performance bonds in connection with the Business.

         3.10     PERSONNEL MATTERS. Schedule 3.10 contains a list of all
employees of the Business (the "EMPLOYEES") along with their job titles and
rates of pay and Employee Plans. Except as described in Schedule 3.10, Seller
has no written or oral contracts of employment with any employee of the Business
other than oral employment agreements terminable at will without penalty. Seller
is not a party to or subject to any collective bargaining agreements with
respect to the Business. Seller has furnished Buyer with true and complete
copies of all employee handbooks, employee rules and regulations, and Employee
Plans, if any. None of Seller's employees is represented by a union or other
representative for collective bargaining purposes, no union or other
representative claims to represent any of Seller's employees for such purposes
and Seller has not received a request for recognition from any union or other
representative seeking to represent any of Seller's employees for such purposes.
Seller's employees are not engaged in or subject to any organizing activity with
respect to any labor union or other representative seeking to represent Seller's
employees and no such organizing activity is threatened. There is no strike,
picketing, work slow down or other labor disputes or controversies or
proceedings pending or threatened involving or relating to any of Seller's
employees. No Employee Plan is a "Multiemployer Plan," as defined in Section
3(37) of ERISA, and neither Seller nor any entity related to Seller (under the
terms of Sections 414(b), (c), (m) or (o) of the Code) has within the last ten
years, or reasonably expects to incur, any "withdrawal liability," as defined
under Section 4201 et seq. of ERISA. No Employee Plan is covered by Title IV of
ERISA and neither the Seller nor any entity related to Seller (under the terms
of Sections 414(b), (c), (m) or (o) of the Code) has within the last ten years
terminated any Employee Plan which was covered by Title IV of ERISA, other than
pursuant to a standard termination under Section 4041(b) of ERISA. No Employee
Plan or Compensation Arrangement provides medical or death benefit coverage to
former employees, except for "COBRA" benefits required by Section 4980B of the
Code as further described in Schedule 3.10.

         3.11     CLAIMS AND LEGAL ACTIONS. Except as set forth on Schedule
3.11, there is no claim, legal action, arbitration, governmental investigation
or other legal, administrative or tax proceeding, nor any order, decree or
judgment, in progress or pending, or to the knowledge of Seller threatened,
against or relating to Seller, the Purchased Assets, or the operation of the
Business.

         3.12     COMPLIANCE WITH LAWS. Except as disclosed on Schedule 3.12,
Seller has complied with, and the Business and Purchased Assets are in
compliance, in all material respects, with all applicable Legal Requirements.
Seller is licensed in all material respects to operate all the facilities
required by law to be licensed.

         3.13     TAXES AND TAX RETURNS. All Tax Returns relating to the
Purchased Assets or the operation of the Business have been timely filed with
the appropriate governmental agencies in all jurisdictions in which such Tax
Returns are required to be filed, all such Tax Returns are true, correct and
complete in all material respects, and all Taxes due for the periods covered by
such Tax Returns have been properly accrued or paid to the extent such Taxes
have become due. Seller has received no notice of any notice of deficiency or
proposed assessment from any taxing

                                     - 12 -
<PAGE>   17

governmental authority with respect to Taxes relating to the Business or the
Purchased Assets. There are no Tax liens on any of the Purchased Assets.

         3.14     CONDUCT OF BUSINESS IN ORDINARY COURSE. From June 30, 1999
through and including the Closing Date, Seller has operated the Business only in
the ordinary course and has not (i) made any material increase in compensation
payable or to become payable to any of the employees of the Business, or any
material change in personnel policies, insurance benefits or other compensation
arrangements affecting the employees of the Business, (ii) made any sale,
assignment, lease or other transfer of any of Seller's properties other than
Excluded Assets, obsolete assets no longer usable in the operation of the
Business, or other assets sold or disposed of in the normal course of business
with suitable replacements being obtained therefor, and (iii) suffered any
material adverse change in the assets, properties, financial condition, or
results of operations of the Business, including any material damage,
destruction, or loss affecting any assets used or useful in the operation of the
Business.

         3.15     TRANSACTIONS WITH AFFILIATES. Except as disclosed in the
Financial Statements and described on Schedule 3.15, Seller has not been
involved in any business arrangement or relationship with any Affiliate of
Seller, and no Affiliate of Seller has provided services to Seller, has incurred
on behalf of Seller expenses unreimbursed by Seller, or owns any property or
right, tangible or intangible, that is used in the operation of the Business.

         3.16     FINANCIAL STATEMENTS. Seller has furnished Buyer with true and
complete copies of an unaudited balance sheet and profit and loss statement as
at, and for the fiscal year ended, December 31, 1998 and the ten month period
ended October 26, 1999 (collectively, the "FINANCIAL STATEMENTS"). The Financial
Statements have been prepared from the books and records of Seller, accurately
reflect the books, records and accounts of Seller (which books, records and
accounts are complete and correct in all material respects), and present fairly
the financial condition of Seller as at their respective dates and the results
of operations for the periods then ended, except that the Financial Statements
do not include footnotes or customary year-end adjustments and there are no
automobiles owned by the Company.

         3.17     BROKER. Neither Seller nor any person or entity acting on
Seller's behalf has employed any broker or lender or incurred any liability for
any finders' or brokers' fees or commissions in connection with the transactions
contemplated by this Agreement.

         3.18     YEAR 2000 COMPLIANCE. Seller has no current actual knowledge
that Seller's information technology (including without limitation all of the
computer hardware and software owned, leased or used by Seller in connection
with the Websites or otherwise in the ordinary course of the operation of the
Business) is not Year 2000 Compliant. For purposes of this section, "YEAR 2000
COMPLIANT" means, with respect to Seller's information technology, that the
information technology is designed to be used prior to, during, and after the
calendar Year 2000 A.D., and the information technology used during each such
time period will accurately receive, provide and process date/time data
(including, but not limited to, calculating, comparing and sequencing) from,
into and between the twentieth and twenty-first centuries, including the years
1999 and 2000, and leap year calculations, and will not malfunction, cease to
function, or provide invalid or incorrect results as a result of date/time data,
to the extent that other

                                     - 13 -
<PAGE>   18

information technology, used in combination with the information technology
being acquired by Buyer hereunder, properly exchanges date/time data with it.

SECTION 4:  REPRESENTATIONS AND WARRANTIES OF BUYER

         Buyer represents and warrants to Seller as follows:

         4.1      ORGANIZATION, STANDING AND AUTHORITY. Buyer is a limited
liability company duly organized, validly existing and in good standing under
the laws of Delaware. Buyer has all requisite limited liability company power
and authority to execute, deliver and perform this Agreement and the documents
contemplated hereby in accordance with their respective terms.

         4.2      AUTHORIZATION AND BINDING OBLIGATION. The execution, delivery
and performance of this Agreement and the documents contemplated hereby by Buyer
have been duly authorized by all necessary limited liability company actions on
the part of Buyer. This Agreement has been, and the documents contemplated
hereby will be upon the execution and delivery on behalf of Buyer, duly executed
and delivered by Buyer and constitute or will constitute, as applicable, the
legal, valid and binding obligation of Buyer, enforceable against Buyer in
accordance with their respective terms, except to the extent such enforceability
may be limited by the Enforceability Exceptions.

         4.3      ABSENCE OF CONFLICTING AGREEMENTS. The execution, delivery and
performance of this Agreement and the documents contemplated hereby and thereby
and the consummation of the transactions contemplated hereby and thereby by
Buyer (with or without the giving of notice, the lapse of time, or both): (i) do
not require the consent of, notice to, or filing with any governmental authority
or any other third party under any License or other Contract; (ii) do not
conflict with any provision of Buyer's articles of organization or operating
agreement, each as currently in effect; (iii) will not conflict with, result in
a breach of, or constitute a default under any Legal Requirement to which Buyer
is bound; and (iv) will not conflict with, constitute grounds for termination
of, result in a breach of, constitute a default under, or accelerate or permit
the acceleration of any performance required by the terms of any License or
other Contract.

         4.4      LITIGATION. There is no claim, legal action, arbitration,
governmental investigation or other legal or administrative proceeding, nor any
order, decree or judgment, in progress or pending, or to the knowledge of Buyer
threatened, against or relating to Buyer which would enjoin, rescind or
condition the transactions contemplated hereunder.

SECTION 5:  COVENANTS AND AGREEMENTS

         5.1      CONFIDENTIALITY. Buyer and Seller, for themselves and for
their respective Affiliates, each agrees that it will use commercially
reasonable efforts to keep confidential (except for such disclosure to its
advisors and representatives as may be appropriate in the furtherance of this
transaction and except for such disclosure as may be necessary to comply with
applicable law) all information of a confidential nature obtained by it from the
other in connection with the transactions contemplated by this Agreement.

                                     - 14 -
<PAGE>   19

         5.2      ACCOUNTS RECEIVABLE. At the Closing, Seller shall assign to
Buyer all Accounts Receivable included in the Purchased Assets. Seller shall
deliver to Buyer on the Closing Date a complete and detailed statement of such
Accounts Receivable, showing the account number and date of issuance, the name
and address of the account payor, the aggregate amount of such receivable, and
the balance due as of Closing Date on each such Account Receivable. Any payments
received by Seller from account payors on or after the Closing Date with respect
to such Accounts Receivable shall be remitted by Seller to Buyer.

         5.3      EMPLOYEE MATTERS. On the Closing Date, Seller shall terminate
the employment of the Employees, and effective on the Closing Date, Buyer shall
hire and continue the employment of the Employees in comparable positions, at
comparable salaries and with comparable benefits (including health and life
insurance). Seller shall be responsible for and shall cause to be discharged and
satisfied in full all amounts owed to any employee, including, without
limitation, wages, salaries, commissions, bonuses, severance, sick pay, vacation
pay, and any other benefits due to an employee under any Employee Plan or
Compensation Arrangement for the period prior to the Closing Date.

         5.4      ALLOCATION. Buyer and Seller shall use commercially reasonable
good faith efforts to agree on the allocation of the Purchase Price and the
Assumed Liabilities in accordance with the rules under Section 1060 of the Code;
provided however, that if the parties are unable to agree to such allocation,
each party may make such allocation as it may determine in its sole discretion.

         5.5      FURTHER ASSURANCES. After the Closing, Seller and Buyer will
take such actions, and execute and deliver to Buyer or Seller, as appropriate,
such further deeds, bills of sale, assignments or other transfer documents as,
in the reasonable opinion of counsel for Buyer or Seller, as appropriate, may be
necessary to evidence or complete the transfer of the Purchased Assets to Buyer
pursuant to this Agreement.

         5.6      SALE OF WEBSITE. After the Closing, Buyer covenants and agrees
with Seller to extend to Mr. John Hentrich and Ms. Dawn Hentrich the right to
approve any prospective purchaser of the "http://www.specialcar.com" website
from Buyer, with such approval not to be unreasonably withheld by Mr. John
Hentrich or Ms. Dawn Hentrich.

         5.7      CLOSING ACCOUNTS RECEIVABLE. Seller shall deliver to Buyer
promptly after the Closing Date a complete and detailed statement of the Closing
Accounts Receivable, showing the account number and date of issuance, the name
and address of the account payor, the aggregate amount of such receivable, and
the balance due as of Closing Date on each such Closing Account Receivable.
Buyer agrees to use its normal business efforts, for a period of one hundred
eighty (180) days, as collection agent for Seller, to diligently collect the
Closing Accounts Receivable following the Closing Date in the ordinary course of
business in accordance with the Buyer's standard collection practice, provided
however, that the Buyer shall not be required to take any extraordinary measures
including instituting a legal proceeding or utilizing any collection agency. Any
funds received by the Buyer payable in respect to Closing Accounts Receivable
shall be held for the account of the Seller in a segregated bank account and all
funds accumulated shall be wire transferred to the Seller on a monthly basis or
as agreed to by the Seller and the Buyer. Nothing herein shall preclude the
Seller from taking any action to collect the Closing Accounts Receivable.

                                     - 15 -
<PAGE>   20

SECTION 6:  CLOSING AND CLOSING DELIVERIES

         6.1      CLOSING. The Closing Date shall be on the same date as the
date of this Agreement at such place and by such means as Buyer and Seller shall
mutually agree.

         6.2      DELIVERIES BY SELLER. On the Closing Date, Seller shall
deliver to Buyer the following, in form and substance reasonably satisfactory to
Buyer and its counsel:

                  (a)      TRANSFER DOCUMENTS. Duly executed bills of sale,
assignments and other transfer documents which shall be sufficient to vest good
and marketable title to the Purchased Assets, including, without limitation, the
Assumed Contracts and the Accounts Receivable, in the name of Buyer, free and
clear of any Encumbrances except for Permitted Encumbrances;

                  (b)      CONSENTS. The original of each Consent with, as a
result of obtaining such Consent, no adverse change having been made in the
terms of the License or Assumed Contract with respect to which such Consent has
been obtained;

                  (c)      POWER OF ATTORNEY. A power of attorney sufficient to
enable Buyer to collect the Accounts Receivable being conveyed to Buyer at the
Closing, including the endorsement of any payments by check made by Customers;

                  (d)      SECRETARY'S CERTIFICATE. A certificate dated as of
the Closing Date, executed by Seller's Secretary, certifying that the
resolutions attached to such certificate were duly adopted by Seller's Board of
Directors and Stockholders authorizing and approving the execution of this
Agreement and the consummation of the transaction contemplated hereby and that
such resolutions remain in full force and effect;

                  (e)      CONTRACTS, BUSINESS RECORDS, ETC. Copies of all
Assumed Contracts, customer, advertiser, purchaser and user lists used or
maintained by Seller (including, without limitation lists described in Section
2.1), computer master tapes or disks with customer and user information and
copies of the Websites, blueprints, schematics, working drawings, plans,
projections, statistics, films, artwork, photographs and other reproduction
materials, master videos, engineering records and other books and records owned
or maintained by Seller relating to the operation of the Business (other than
those excluded by Section 2.2(d));

                  (f)      EMPLOYMENT AGREEMENTS. Employment Agreements, dated
as of the Closing Date (the "EMPLOYMENT Agreements"), and duly executed by Mr.
John Hentrich and Ms. Dawn Hentrich, as appropriate; and

                  (g)      LEASE AGREEMENT. The Lease Agreement, dated as of the
Closing Date (the "LEASE AGREEMENT"), and duly executed by Seller or Mr. John
Hentrich and Ms. Dawn Hentrich (as applicable) as lessor thereunder.

         6.3      DELIVERIES BY BUYER. Prior to or on the Closing Date, Buyer
shall deliver to Seller the following, in form and substance reasonably
satisfactory to Seller and its counsel:

                  (a)      PURCHASE CONSIDERATION. The Closing Cash Payment as
provided in Section 2.5;

                                     - 16 -
<PAGE>   21

                  (b)      ASSUMPTION AGREEMENTS. Appropriate assumption
agreements and other documents reasonably requested by Seller pursuant to which
Buyer shall assume and undertake to perform Seller's obligations arising on and
after the Closing Date under the Assumed Contracts;

                  (c)      EMPLOYMENT AGREEMENTS. The Employment Agreements,
duly executed by Buyer;

                  (d)      LEASE AGREEMENT. The Lease Agreement, duly executed
by Buyer as lessee thereunder; and

                  (e)      OFFICER'S CERTIFICATES. A certificate dated as of the
Closing Date, executed by a duly authorized officer of Buyer, certifying that
the resolutions attached to such certificate were duly adopted by the requisite
parties authorizing and approving the execution of this Agreement and the
consummation of the transactions contemplated hereby and that such resolutions
remain in full force and effect.

SECTION 7:  SURVIVAL OF REPRESENTATIONS AND WARRANTIES, AND INDEMNIFICATION

         7.1      REPRESENTATIONS AND WARRANTIES. All representations and
warranties of Buyer and Seller herein shall be deemed continuing
representations, warranties and covenants, and shall survive the Closing for a
period of twelve (12) months after the Closing Date. Any investigations by or on
behalf of any party hereto shall not constitute a waiver as to enforcement of
any representation, warranty, or covenant contained in this Agreement.

         7.2      INDEMNIFICATION BY SELLER. Seller shall indemnify and hold
Buyer harmless against and with respect to, and shall reimburse Buyer for any
and all losses, liabilities or damages resulting from (collectively, "BUYER'S
DAMAGES"):

                  (a)      any breach of any representation or warranty, or any
nonfulfillment of any covenant by Seller contained in this Agreement;

                  (b)      Any and all obligations of Seller not assumed by
Buyer pursuant to the terms hereof; and

                  (c)      the operation or ownership of the Business or the
Purchased Assets prior to the Effective Time.

         Notwithstanding the foregoing, (a) Seller shall be required to
indemnify Buyer for Buyer's Damages only to the extent that the aggregate
Buyer's Damages exceed $50,000 in the aggregate (provided that no claim may be
counted toward such $50,000 unless it exceeds $5,000), (b) Seller shall not be
required to indemnify Buyer for Buyer's Damages in an aggregate amount in excess
of the amount which is the after-tax amount of the amount of the Initial
Payment, as adjusted, and the Deferred Payment, actually received by Seller
(which the parties agree shall be assumed to be 75%), and (c) any claim for
indemnification under Section 7 hereof must be made during the applicable
survival period set forth in Section 7.1 hereof.

                                     - 17 -
<PAGE>   22

         7.3      INDEMNIFICATION BY BUYER. Buyer shall indemnify and hold
Seller harmless against and with respect to, and shall reimburse Seller for any
and all losses, liabilities or damages resulting from (collectively, "SELLER'S
DAMAGES"):

                  (a)      any breach of any representation or warranty, or any
nonfulfillment of any covenant by Buyer contained in this Agreement;

                  (b)      any and all obligations of Seller assumed by Buyer
pursuant to the terms hereof; and

                  (c)      the operation or ownership of the Business or the
Purchased Assets after the Effective Time.

         7.4      PROCEDURE FOR INDEMNIFICATION. The procedure for
indemnification shall be as follows:

                  (a)      The party claiming indemnification (the "CLAIMANT"),
shall give notice to the other party (the "INDEMNIFIER") of any claim, whether
between the parties or brought by a third party, within fifteen (15) business
days of receiving notice, or becoming aware thereof, and specifying (i) the
factual basis for such claim, and (ii) the amount of the claim.

                  (b)      Following receipt of notice from the Claimant of a
claim, the Indemnifier shall have thirty (30) days to make such investigation of
the claim as the Indemnifier deems necessary or desirable. For the purposes of
such investigation, the Claimant agrees to make available to the Indemnifier
and/or its authorized representative(s) the information relied upon by the
Claimant to substantiate the claim. If the Claimant and the Indemnifier agree at
or prior to the expiration of said thirty (30) day period (or any mutually
agreed upon extension thereof) to the validity and amount of such claim, the
Indemnifier shall immediately pay to the Claimant the full amount of the claim.
If the Claimant and the Indemnifier do not agree within said period (or any
mutually agreed upon extension thereof), the parties agree to arbitrate the
matter pursuant to Section 8.10.

                  (c)      With respect to any claim by a third party as to
which either Buyer or Seller is claiming indemnification hereunder, the
Indemnifier, subject to its acknowledgment of its indemnity obligations
hereunder, shall have the right at its own expense to assume control of the
defense. If the Indemnifier elects to assume control of the defense of any
third-party claim, the Claimant shall have the right to participate in the
defense of such claim at its own expense. If the Indemnifier does not elect to
assume control or otherwise participate in the defense of any third-party claim,
it shall be bound by the results obtained by the Claimant with respect to such
claim.

         7.5      AFFILIATES. The indemnification rights provided in Sections
7.2 and 7.3 shall, in any instance, extend to any Affiliate of each of Buyer and
Seller although any indemnification claims by such parties shall be made by and
through the Claimant.

         7.6      GUARANTY.

                  (a)      TERMS. By their execution hereof with respect to this
Section 7.6, Mr. John Hentrich and Ms. Dawn Hentrich, the principle stockholders
of Seller (collectively,

                                     - 18 -
<PAGE>   23

"GUARANTOR"), jointly and severally, irrevocably and unconditionally guarantee
to Buyer the full, complete and timely performance by Seller following the
Closing of any and all obligations of Seller under this Section 7 (the
"OBLIGATIONS"). This guaranty shall remain in full force and effect so long as
Seller shall have any obligations or liabilities under this Section 7. This
guaranty shall be deemed a continuing guaranty and the waivers of Guarantor
herein shall remain in full force and effect until the satisfaction in full of
the Obligations. If any default shall occur by Seller in its performance or
satisfaction of any of the Obligations, then Guarantor will perform or satisfy,
or cause to be performed or satisfied, such obligations immediately upon notice
from Buyer describing such default. This guaranty is an absolute, unconditional
and continuing guaranty of payment and performance which shall remain in full
force and effect without respect to future changes in conditions (including any
change of law) and without regard to any amendment to this Agreement or any
circumstance which might otherwise constitute a legal or equitable discharge of
a guarantor or surety. Guarantor agrees that its obligations hereunder shall not
be contingent upon the exercise or enforcement by Buyer of whatever remedies it
may have against Seller or any other guarantor.

                  (b)      WAIVERS. To the maximum extent permitted by law,
Guarantor hereby waives: (i) notice of acceptance hereof; (ii) notice of any
adverse change in the financial condition of Seller or of any other fact that
might increase Guarantor's risk hereunder; and (iii) presentment, protest,
demand, action or delinquency in respect of any of the Obligations.

                  (c)      REPRESENTATIONS AND WARRANTIES. Guarantor represents
and warrants to Seller that, to their knowledge, (i) this Agreement has been
duly and validly executed and delivered by Guarantor and this Section 7.6
constitutes its legal, valid, and binding agreement, enforceable in accordance
with its terms, except as the enforceability of this Agreement may be affected
by bankruptcy, insolvency, or similar laws affecting creditors' rights
generally, and by judicial discretion in the enforcement of equitable remedies,
and (ii) the execution, delivery, and performance by Guarantor of this Agreement
(A) do not require the consent of any third party (including any governmental or
regulatory authority); (B) will not violate or result in a breach of, or
contravene any law, judgment, order, ordinance, injunction, decree, rule,
regulation, or ruling of any court or governmental instrumentality applicable to
Guarantor; and (C) will not violate, conflict with, or result in a material
breach of any terms of, constitute grounds for termination of, constitute a
default under, or result in the acceleration of any performance required by the
terms of, any mortgage, indenture, lease, contract, agreement, instrument,
license, or permit to which Guarantor is a party or by which Guarantor or its
properties may be bound legally.

SECTION 8:  MISCELLANEOUS

         8.1      FEES AND EXPENSES. Any transfer Taxes, recordation Taxes,
sales Taxes, use Taxes, document stamps, Taxes and fees, filing fees, or other
charges levied by any governmental entity on account of the transfer of the
Purchased Assets from Seller to Buyer up to an aggregate amount of $20,000 shall
be paid by Seller and Buyer equally, and all other such charges shall be paid by
Seller alone. Except as otherwise provided in this Agreement, each party shall
pay its own expenses incurred in connection with the authorization, preparation,
execution, and performance of this Agreement, including all fees and expenses of
counsel, accountants, agents and representatives, and each party shall be
responsible for all fees or commissions payable to any finder, broker, advisor,
or similar person retained by or on behalf of such party.

                                     - 19 -
<PAGE>   24

         8.2      NOTICES. All notices, demands, and requests required or
permitted to be given under the provisions of this Agreement shall be in
writing, may be sent by telecopy (with automatic machine confirmation),
delivered by personal delivery, or sent by commercial delivery service or
certified mail, return receipt requested, shall be deemed to have been given on
the date of actual receipt, which may be conclusively evidenced by the date set
forth in the records of any commercial delivery service or on the return
receipt, and shall be addressed to the recipient at the address specified below,
or with respect to any party, to any other address that such party may from time
to time designate in a writing delivered in accordance with this Section 8.2:

<TABLE>
<CAPTION>
         If to Seller:              Intellisoft Development Corporation
         ------------
         <S>                        <C>
                                    Suite 3C
                                    340 West Butterfield Road
                                    Elmhurst, Illinois  60126
                                    Attention:       John Hentrich, President
                                    Telecopy:        630/953-8403
                                    Telephone:       630/953-1989

                                    with a copy      Winston & Strawn
                                    (which shall     35 West Wacker Drive
                                    not constitute   Chicago, Illinois  60601-9703
                                    notice) to:      Attention:        Andrew J. McDonough, Esq.
                                                     Telecopy:         312/558-5700
                                                     Telephone:        312/558-6079

         If to Buyer:               AutoTrader.com, LLC
                                    1400 Lake Hearn Drive
                                    Atlanta, Georgia  30319
                                    Attention:       Victor A. Perry, President
                                    Telecopy:        404/843-7412
                                    Telephone:       404/843-5480

                                    with a copy      Dow, Lohnes & Albertson, PLLC
                                    (which shall     1200 New Hampshire Ave., Suite 800
                                    not constitute   Washington, D.C.  20036
                                    notice) to:      Attention:        Stuart A. Sheldon, Esq.
                                                     Telecopy:         202/776-2222
                                                     Telephone:        202/776-2000
</TABLE>

or to any such other or additional persons and addresses as the parties may from
time to time designate in a writing delivered in accordance with this Section
8.2.

         8.3      BENEFIT AND BINDING EFFECT. Neither party hereto may assign
this Agreement without the prior written consent of the other party hereto,
which consent shall not be unreasonably withheld. This Agreement shall be
binding upon and inure to the benefit of the parties hereto and their respective
successors and permitted assigns.

                                     - 20 -
<PAGE>   25

         8.4      LAWS OF THE STATE OF ILLINOIS. THIS AGREEMENT SHALL BE
GOVERNED, CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
ILLINOIS (WITHOUT REGARD TO THE CHOICE OF LAW PROVISIONS THEREOF).

         8.5      ENTIRE AGREEMENT. This Agreement, all schedules hereto and all
documents and certificates to be delivered by the parties pursuant hereto
collectively represent the entire understanding and agreement between Buyer and
Seller with respect to the subject matter hereof. All schedules attached to this
Agreement shall be deemed part of this Agreement and are incorporated herein,
where applicable, as if fully set forth herein. This Agreement supersedes all
prior negotiations, letters of intent or other writings between Buyer and Seller
and their respective representatives with respect to the subject matter hereof,
and cannot be amended, supplemented or modified except by a written agreement
which makes specific reference to this Agreement or an agreement delivered
pursuant hereto, as the case may be, and which is signed by the party against
which enforcement of any such amendment, supplement or modification is sought.

         8.6      WAIVER OF COMPLIANCE; CONSENTS. Except as otherwise provided
in this Agreement, any failure of any of the parties to comply with any
obligation, representation, warranty, covenant, agreement or condition herein
may be waived by the party entitled to the benefits thereof only by a written
instrument signed by the party granting such waiver, but such waiver or failure
to insist upon strict compliance with such obligation, representation, warranty,
covenant, agreement or condition shall not operate as a waiver of, or estoppel
with respect to, any subsequent or other failure. Whenever this Agreement
requires or permits consent by or on behalf of any party hereto, such consent
shall be given in writing in a manner consistent with the requirements for a
waiver of compliance as set forth in this Section 8.6.

         8.7      BULK SALES LAW. The parties hereto waive compliance with the
provisions of any bulk sales or fraudulent conveyance law applicable to the
transaction contemplated hereby.

         8.8      SEVERABILITY. If any provision hereof or the application
thereof to any person or circumstance shall be invalid or unenforceable to any
extent, the remainder of this Agreement and the application of such provision to
other persons or circumstances shall not be affected thereby and shall be
enforced to the greatest extent permitted by law.

         8.9      COUNTERPARTS. This Agreement may be executed in any number of
counterparts, each of which, when so executed and delivered, shall be an
original, and all of which counterparts together shall constitute one and the
same fully executed instrument.

         8.10     ARBITRATION PROCEDURE.

                  (a)      The Seller and Buyer agree that the arbitration
procedure set forth below shall be the sole and exclusive method for resolving
and remedying claims for money damages arising out of the provisions of this
Agreement (the "Dispute"). The parties hereby agree and acknowledge that, except
as otherwise provided in this Section 8.10 or in the Commercial Arbitration
Rules of the American Arbitration Association as in effect from time to time,
the arbitration procedures and any Final Determination hereunder shall be
governed by, and shall be enforced pursuant to, the Uniform Arbitration Act.

                                     - 21 -
<PAGE>   26

                  (b)      In the event that either the Seller or Buyer asserts
that there exists a Dispute, such party shall deliver a written notice to each
other party or parties involved therein specifying the nature of the asserted
Dispute and requesting a meeting to attempt to resolve the same. If no such
resolution is reached within thirty (30) calendar business days after such
delivery of such notice, the party delivering such notice of Dispute (the
"Disputing Person") may, within sixty (60) business days after delivery of such
notice, commence arbitration hereunder by delivering to each other party
involved therein a notice of arbitration (a "Notice of Arbitration"). Such
Notice of Arbitration shall specify the matters as to which arbitration is
sought, the nature of any Dispute, the claims of each party to the arbitration
and shall specify the amount and nature of any damages, if any, sought to be
recovered as a result of any alleged claim, and any other matters required to be
included therein, if any, by the Commercial Arbitration Rules of the American
Arbitration Association as in effect from time to time.

                  (c)      The Seller and Buyer each shall select one
independent arbitrator expert in the subject matter of the Dispute (the
arbitrators so selected shall be referred to herein as the "Seller's Arbitrator"
and the "Buyer's Arbitrator," respectively). In the event that either party
fails to select an independent arbitrator as set forth herein within twenty (20)
days from delivery of a Notice of Arbitration, then the matter shall be resolved
by the arbitrator selected by the other party. The Seller's Arbitrator and the
Buyer's Arbitrator shall select a third independent arbitrator expert in the
subject matter of the dispute, and the three arbitrators so selected shall
resolve the matter according to the procedures set forth in this Section 8.10.
If the Seller's Arbitrator and the Buyer's Arbitrator are unable to agree on a
third arbitrator within twenty (20) days after their selection, the Seller's
Arbitrator and the Buyer's Arbitrator shall each prepare a list of three
independent arbitrators. The Seller's Arbitrator and the Buyer's Arbitrator
shall each have the opportunity to designate as objectionable and eliminate one
arbitrator from the other arbitrator's list within seven (7) days after
submission thereof, and the third arbitrator shall then be selected by lot from
the arbitrators remaining on the lists submitted by the Seller's Arbitrator and
the Buyer's Arbitrator.

                  (d)      The arbitrator(s) selected pursuant to paragraph (c)
above will determine the allocation of the costs and expenses of arbitration
based upon the percentage which the portion of the contested amount awarded to
each party bears to the amount actually contested by such party. For example, if
Seller submits a claim for $1,000, and if Buyer contests only $500 of any amount
claimed by Seller, and if the arbitrator(s) ultimately resolves the dispute by
awarding Seller $300 of the $500 contested, then the costs and expenses of
arbitration will be allocated 60% (i.e. 300/500) to Buyer and 40% (i.e. 200/500)
to Seller.

                  (e)      The arbitration shall be conducted in Chicago,
Illinois and under the Commercial Arbitration Rules of the American Arbitration
Association as in effect from time to time, except as modified by the agreement
of Seller and Buyer. The arbitrator(s) shall so conduct the arbitration that a
final result, determination, finding, judgment and/or award (the "Final
Determination") is made or rendered as soon as practicable, but in no event
later than ninety (90) business days after the delivery of the Notice of
Arbitration nor later than ten (10) days following completion of the
arbitration. The Final Determination must be agreed upon and signed by the sole
arbitrator or by at least two of the three arbitrators (as the case may be). The
Final Determination shall be final and binding on all parties and there shall be
no appeal from or reexamination of the Final Determination, except for fraud,
perjury, evident partiality or

                                     - 22 -
<PAGE>   27

misconduct by an arbitrator prejudicing the rights of any party, and to correct
manifest clerical errors.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK; SIGNATURES APPEAR ON FOLLOWING
PAGE]

                                     - 23 -
<PAGE>   28

         IN WITNESS WHEREOF, this Asset Purchase Agreement has been executed by
Buyer and Seller as of the date first above written.

<TABLE>
<CAPTION>
BUYER:                                               SELLER:
------                                               -------
<S>                                                  <C>
AUTOTRADER.COM, LLC                                  INTELLISOFT DEVELOPMENT
                                                     CORPORATION

By: /s/ Victor A. Perry                         By    /s/ John J. Hentrich
   -------------------------------                   -------------------------------
Name: Victor A. Perry                          Name:  John J. Hentrich
     -----------------------------                   -----------------------------
Title: President / CEO                          Title  President
      ----------------------------                    ----------------------------
</TABLE>

                                       SOLELY WITH RESPECT TO SECTION 7.6

                                       GUARANTOR:

                                       /s/ John Hentrich
                                       ----------------------------------------
                                       John Hentrich

                                       /s/ Dawn Hentrich
                                       ----------------------------------------
                                       Dawn Hentrich

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00007-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00007-of-00352.parquet"}]]