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                                                                   Exhibit 10.36

                      STOCK AND WARRANT PURCHASE AGREEMENT

       THIS STOCK AND WARRANT PURCHASE AGREEMENT (this "AGREEMENT") is dated as
FEBRUARY 25, 2004 and is made by and between deCODE genetics, Inc., a Delaware
corporation (the "SELLER") and Merck & Co., Inc., a New Jersey corporation (the
"PURCHASER").

                             PRELIMINARY STATEMENTS

       A.     The Purchaser and the Seller's wholly owned subsidiary, deCODE
genetics, ehf, are parties to that certain License and Research Collaboration
Agreement dated as of the date hereof (the "LICENSE AGREEMENT").

       B.     In connection with the execution of the License Agreement, the
Purchaser has agreed to acquire from the Seller, and the Seller has agreed to
sell to the Purchaser, the Securities (as hereinafter defined).

                                    AGREEMENT

       In consideration of the premises and the mutual promises hereinafter set
forth, the parties hereby agree as follows:

       1.     DEFINITIONS. All capitalized terms used in this Agreement shall
have the meanings assigned to them elsewhere in this Agreement or as specified
below:

              "AGREEMENT" shall have the meaning set forth in the opening
paragraph hereof.

              "CLOSINg" shall mean the closing of the sale to, and purchase by,
the Purchaser of the Securities.

              "COMMISSION" shall mean the United States Securities and Exchange
Commission.

              "EXCHANGE ACT" shall mean the Securities Exchange Act of 1934, as
amended.

              "MATERIAL ADVERSE EFFECT" shall mean any change or effect that,
individually or in the aggregate with all other such changes or effects, would
have a material adverse effect on the business, assets, results or operations,
or financial condition of such party and its subsidiaries taken as a whole or
materially impair the ability of such party to perform its obligations under
this Agreement.

              "PERSON" shall mean and include an individual, a corporation, a
partnership, a trust, an incorporated organization, a limited liability company,
a joint stock corporation, a joint venture, a government or any department,
agency or political subdivision thereof and any other entity.

              "PURCHASE PRICE" shall have the meaning set forth in Section 2.2.

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              "PURCHASER" shall have the meaning set forth in the opening
paragraph hereof.

              "REGISTER", "REGISTERED" and "REGISTRATION" shall 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.

              "REGISTRABLE SECURITIES" shall mean (1) the Shares; (2) the
Warrant Shares, and (3) any securities issued or issuable with respect to the
Shares or Warrant Shares by way of a stock dividend or stock split or in
connection with a combination of shares, reclassification, recapitalization,
merger or consolidation or reorganization; PROVIDED, HOWEVER, that such shares
of common stock or other securities shall cease to be Registrable Securities if
and when they (i) have been sold to or through a broker or dealer or underwriter
in a public distribution or a public securities transaction; (ii) have been sold
in a transaction exempt from the registration and prospectus delivery
requirements of the Securities Act under Section 4(1) thereof so that all
transfer restrictions and restrictive legends with respect to such common stock
are removed upon the consummation of such sale; or (iii) can be sold in any
three month period (or any other relevant period under any amendment to Rule 144
made subsequent to the date hereof) pursuant to Rule 144 without regard to any
manner of sale or volume limitations.

              "RULE 144" shall mean Rule 144 promulgated by the Commission
pursuant to the Securities Act or any similar successor rule.

              "SECURITIES" shall mean the Shares and the Warrant.

              "SECURITIES ACT" shall mean the Securities Act of 1933, as
amended, and the rules and regulations of the Commission promulgated thereunder,
all as the same shall be in effect from time to time.

              "SELLER" shall have the meaning set forth in the opening paragraph
hereof.

              "SHARES" shall mean 689,703 shares of the Seller's common stock,
par value $.001.

              "UNDERWRITTEN OFFERING" shall mean a distribution, registered
pursuant to the Securities Act, in which securities of the Seller are sold to
the public through one or more underwriters.

              "WARRANT" shall mean a warrant to purchase 1,724,257 shares of the
Seller's common stock for an exercise price of $29.00 per share, in
substantially the form as attached hereto as Exhibit A.

              "WARRANT SHARES" shall mean the shares of the Seller's common
stock underlying the Warrant.

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       2.     SALE AND PURCHASE OF SECURITIES.

              2.1    AGREEMENT TO PURCHASE AND SELL. Upon the terms and subject
to the conditions set forth in this Agreement and upon the representations and
warranties made herein, the Seller is hereby selling to the Purchaser, and the
Purchaser is hereby purchasing from the Seller, the Securities.

              2.2    PURCHASE PRICE. The aggregate purchase price for the
Securities is $10,000,000 (the "PURCHASE PRICE").

              2.3    CLOSING. The Closing is occurring simultaneously herewith
at the offices of Stevens & Lee, P.C., 600 College Road East, Princeton, New
Jersey 08540 on the date hereof.

              2.4    CLOSING ACTIONS. At the Closing, (i) the Purchaser is
delivering to the Seller the Purchase Price by wire transfer to such account
previously specified by the Seller, and (ii) the Seller is delivering to the
Purchaser a certificate representing the Shares and a certificate evidencing the
Warrant.

       3.     REPRESENTATIONS AND WARRANTIES OF THE SELLER. The Seller
represents and warrants to the Purchaser as follows:

              3.1    ORGANIZATION. The Seller is (i) a corporation duly
organized, validly existing and in good standing under the laws of its
jurisdiction of incorporation, (ii) has all requisite corporate power and
authority to own, lease and operate its properties and to carry on its
businesses as presently conducted, and (iii) is duly qualified and in good
standing to do business in all of the jurisdictions in which the conduct of the
Seller's business or its ownership, leasing or operation of property requires
such qualification and where the absence of such qualification would have a
Material Adverse Effect on the Seller.

              3.2    AUTHORIZATION. The Seller has full legal power and
authority to enter into and perform this Agreement. This Agreement has been duly
and validly executed and delivered by the Seller and constitutes the valid and
binding obligation of the Seller, enforceable in accordance with its terms,
subject to applicable bankruptcy, reorganization, insolvency, moratorium and
similar laws affecting creditors' rights generally and to general principles of
equity. The Shares have been duly authorized, are duly and validly issued, fully
paid and non-assessable, and are free of any liens or encumbrances. The Warrant
is duly and validly issued and free of any liens or encumbrances. The Warrant
Shares have been duly and validly reserved for issuance.

                     3.3    CAPITALIZATION. The authorized capital stock of the
Seller is (i) 100,000,000 shares of common stock, par value $.001, of which
53,736,460 were outstanding as of December 31, 2003 and (ii) 6,716,666 shares of
preferred stock, par value $.001, of which no shares are outstanding. The Seller
has reserved 1,400,467 of common stock for issuance upon outstanding warrants
(exclusive of the Warrant) and 4,108,331 shares of common stock for

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issuance to employees, consultants, officers or directors pursuant to its 1996
Equity Incentive Plan, as amended, and its 2002 Equity Incentive Plan.

              3.4    DISCLOSURE. The registration statements, reports and proxy
statements filed by the Seller with the Commission, including the financial
statements contained therein (collectively, the "SEC Reports"), complied, as of
their respective dates, in all material respects with the requirements of the
Securities Act and the Exchange Act, and did not, as of their respective dates,
contain any untrue statement of a material fact or omit to state a material fact
required to be stated therein or necessary to make the statements made therein
not misleading.

              3.5    NO MATERIAL ADVERSE CHANGE. Since December 31, 2003, there
has been no Material Adverse Effect on the financial condition, results of
operations, assets, liabilities or business of the Seller and its subsidiaries,
taken as a whole, other than those generally affecting Persons in the Seller's
business, those generally affecting the economy, and those resulting from
changes in general economic, political or financial conditions.

              3.6    NO CONSENTS OR APPROVALS REQUIRED. No consents, approvals
or authorization of designation, declaration or filing with any governmental or
regulatory authority, agency, commission, body or other governmental entity or
by any court or other third party is required for the valid authorization,
execution, delivery and performance by the Seller of this Agreement or for the
valid sale and delivery of the Securities.

              3.7    LISTING. The Seller has been approved for listing on, and
no notification of the issuance of the Securities is required to be given to,
the Nasdaq National Market.

       4.     REPRESENTATIONS AND WARRANTIES OF THE PURCHASER. The Purchaser
represents and warrants to the Seller as follows:

              4.1    AUTHORIZATION OF AGREEMENT. The Purchaser has full legal
power and authority to enter into and perform this Agreement. This Agreement has
been duly and validly executed and delivered by the Purchaser and constitutes
the valid and binding obligation of the Purchaser, enforceable in accordance
with its terms, subject to applicable bankruptcy, reorganization, insolvency,
moratorium and similar laws affecting creditors' rights generally and to general
principles of equity.

              4.2    ACCREDITED PURCHASER. The Purchaser is an accredited
investor within the meaning of Rule 501(a) promulgated under the Securities Act.
The Securities are being purchased or otherwise acquired for its own account and
not with the view to, or for resale in connection with, any distribution or
public offering thereof within the meaning of the Securities Act. It understands
that the Securities have not been registered under the Securities Act or any
applicable state laws by reason of their issuance or contemplated issuance in a
transaction exempt from the registration and prospectus delivery requirements of
the Securities Act and such laws, and that the reliance of the Seller and others
upon this exemption is predicated in part upon this representation and warranty.
It further understands that the Securities may not be transferred or resold
without (a) registration under the Securities Act and any applicable state
securities

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laws, or (b) an exemption from the requirements of the Securities Act and
applicable state securities laws.

              4.3    INVESTMENT EVALUATION. The Purchaser has such knowledge and
experience in financial and business matters that it is capable of evaluating
the merits and risks of the investment to be made hereunder.

              4.4    LEGEND. The Purchaser understands that the certificates for
the Shares and the Warrant bear a legend in substantially the following form in
addition to any other legends that may be required under any other documents to
which the Purchaser is a party.

       THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED
       UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT") OR THE
       SECURITIES ACT OF ANY STATE AND MAY NOT BE OFFERED, SOLD OR
       OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL
       REGISTERED UNDER THE ACT AND APPLICABLE STATE SECURITIES ACTS
       OR, IN THE OPINION OF COUNSEL IN FORM AND SUBSTANCE
       SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER,
       SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS PURSUANT TO AN
       AVAILABLE EXEMPTION FROM SUCH REGISTRATION OR IS IN ACCORDANCE
       WITH THE PROVISIONS OF REGULATION S UNDER THE ACT. HEDGING
       TRANSACTIONS INVOLVING THESE SECURITIES MAY NOT BE CONDUCTED
       UNLESS IN COMPLIANCE WITH THE ACT.

              4.5    BUSINESS AFFAIRS. The Purchaser is aware of the Seller's
business affairs and financial condition and has acquired sufficient information
about the Seller and has had such access to Seller's books and records and
Seller's executive offices as it deems necessary to reach an informed and
knowledgeable decision to acquire the Securities. The Purchaser recognizes that
investment in the Securities involves a number of significant risks.

       5.     DEMAND REGISTRATION RIGHTS; PROCEDURES.

              5.1    GRANT OF DEMAND REGISTRATION RIGHTS. Subject to the terms
of this Agreement, at any time and from time to time, the Purchaser shall be
entitled to request registration under the Securities Act of at least fifty
percent (50%) of the Registrable Securities then held by the Purchaser. Each
such request for registration must specify the number of Registrable Securities
requested to be registered and whether such registration is to be in the form of
an Underwritten Offering.

              5.2    SELECTION OF UNDERWRITER(s). If the Purchaser elects to
have the offering of Registrable Securities pursuant to a Demand Registration be
in the form of an Underwritten Offering, the Purchaser shall select and obtain
the investment banker or investment bankers and manager or managers for the
offering, subject to the approval of the Seller.

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              5.3    PRIORITY ON UNDERWRITTEN DEMAND REGISTRATION. If a Demand
Registration is an Underwritten Offering and the managing underwriters advise
the Purchaser and the Seller in writing that in their opinion the number of
Registrable Securities requested to be included in such offering exceeds the
number of Registrable Securities that can be sold therein without adversely
affecting the marketability of the offering, the Seller will include in such
registration the number of Registrable Securities requested to be included that,
in the opinion of such underwriters, can be sold without adversely affecting the
marketability of the offering. If there is any reduction in the number of
Registrable Securities included in such Underwritten Offering by the Purchaser,
no securities of any other Person shall be included in such registration. The
Purchaser may abandon a Demand Registration at any time. An abandoned Demand
Registration shall not count as a Demand Registration and such Purchaser shall
retain its rights hereunder with respect to the number of Demand Registrations
without a reduction as a result thereof if such Purchaser, at its option, pays
all fees and expenses in connection with such abandoned registration other than
fees and expenses relating to any Registrable Securities that any Person other
than the Purchaser may have requested to be included in such abandoned
registration.

              5.4    LIMITATIONS ON DEMAND REGISTRATION. Notwithstanding any
other provision in this Agreement, (i) the Purchaser shall not be permitted to
make more than three (3) requests for a Demand Registration pursuant to Section
5.1 provided however in the event that the Purchaser exercises the Warrant, the
Purchaser shall be permitted three additional requests for Demand Registration
with respect to the Registrable Securities issued upon exercise of the Warrant,
and (ii) the Seller shall not be required to effect more than one (1) Demand
Registration during any 12-month period.

              5.5    POSTPONEMENT OF DEMAND REGISTRATION BY THE SELLER. The
Seller may postpone for up to 90 days the filing of a registration statement for
a Demand Registration if the Seller has delivered a certificate to the Purchaser
stating that the Board, acting in good faith, has determined that pursuance of
such Demand Registration would be seriously detrimental to the Seller and its
stockholders PROVIDED, HOWEVER, that in the event of any such postponement, the
Purchaser shall be entitled to withdraw the request for such Demand Registration
and, if such request is withdrawn, such request shall not count as a Demand
Registration hereunder. The Seller may postpone such filing for the reasons
stated above not more than once during any calendar year. In addition, the
Seller shall not be required to effect any registration pursuant to this
Agreement at any time when another registration statement (other than on Form
S-8) of the Seller (A) is reasonably foreseen by the Board to be filed with the
Commission within thirty (30) days after the request for such Demand
Registration has been filed and not yet become effective, or (B) has become
effective less than six (6) months prior to the date of the request for such
Demand Registration.

              5.6    SPECIAL AUDITS. Notwithstanding any other provision of this
Agreement, the Seller shall not be required to undergo or pay for any special
audit to effect any registration statement pursuant to this Section 5, and if
such a special audit would be required in order to file or effect a registration
statement hereunder, the Seller shall be entitled to delay the filing or
effectiveness of such registration statement until a reasonable period of time
following

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completion of such audit in the ordinary course of the Seller's business;
PROVIDED, HOWEVER, that the Seller shall not be entitled to delay the filing or
effectiveness of such registration statement if the Purchaser shall agree to pay
for the cost of such audit.

              5.7    PROCEDURES. If and as often as the Seller is required by
the provisions of this Section 5 to include shares of Registrable Securities
held by the Purchaser in a registration statement filed under the Securities
Act, the Seller, at its expense and as expeditiously as possible, agrees to:

                     (i)    in accordance with the Securities Act and all
applicable rules and regulations, prepare and file with the Commission a
registration statement with respect to such securities and use its best efforts
to cause such registration statement to become and remain effective for a period
of 90 days (or, if such registration statement has been filed on Form S-3 and
the Purchaser has indicated in its request for a Demand Registration that it is
requesting a shelf registration pursuant to Rule 415 under the Securities Act,
for a period of two years) and prepare and file with the Commission such
amendments and supplements to such registration statement and the prospectus
contained therein as may be necessary to keep such registration statement
effective and such registration statement and prospectus accurate and complete
during such period of time;

                     (ii)   furnish to the Purchaser and to any underwriters of
the securities being registered such number of copies of the registration
statement and each amendment and supplement thereto, preliminary prospectus,
final prospectus and such other documents as such underwriters and Purchaser may
reasonably request in order to facilitate the public offering of such
securities;

                     (iii)  use reasonable efforts to register or qualify the
securities covered by such registration statement under such state securities or
blue sky laws of such jurisdictions as the Purchaser and underwriters may
reasonably request within 20 days prior to the original filing of such
registration statement, except that the Seller shall not for any purpose be
required to execute a general consent to service of process or to qualify to do
business as a foreign corporation in any jurisdiction where it is not so
qualified, or to subject itself to taxation in any such jurisdiction;

                     (iv)   notify the Purchaser promptly after it shall receive
notice thereof, of the date and time when such registration statement and each
post-effective amendment thereto has become effective or a supplement to any
prospectus forming a part of such registration statement has been filed;

                     (v)    prepare and file promptly with the Commission, and
promptly notify the Purchaser of the filing of, such amendments or supplements
to such registration statement or prospectus as may be necessary to correct any
statements or omissions if, at the time when a prospectus relating to such
securities is required to be delivered under the Securities Act, any event has
occurred as the result of which any such prospectus or any other prospectus as
then

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in effect would include an untrue statement of a material fact or omit to state
any material fact required to be stated therein or necessary to make the
statements therein not misleading; and

                     (vi)   advise the Purchaser, promptly after it shall
receive notice or obtain knowledge thereof, of the issuance of any stop order by
the Commission suspending the effectiveness of such registration statement or
the initiation or threatening of any proceeding for that purpose.

              5.8    PURCHASER'S AGREEMENTS. The Purchaser shall (i) provide the
Seller with such information with respect to the Purchaser and the distribution
of the Registrable Securities of the Purchaser that is sought to be effected
pursuant to this Agreement as the Seller may from time to time reasonably
request in writing and as shall be required by law or by the Commission in
connection therewith, (ii) comply with all applicable provisions of the
Securities Act, the Exchange Act and any other applicable law or regulation,
including without limitation, the prospectus delivery requirements of the
Securities Act, and (iii) not make any disposition of the Registrable Securities
pursuant to a registration statement filed pursuant to this Agreement following
notice from the Seller of the happening 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 contained
therein not misleading in light of the circumstances then existing until it
receives written notice from the Seller that the use of such prospectus may be
resumed or until it receives copies of any supplement or amendment to such
prospectus.

              5.9    FORMS. All references in this Agreement to particular forms
of registration statements are intended to include, and shall be deemed to
include, references to all successor forms which are intended to replace, or to
apply to similar transactions as, the forms herein referenced.

              5.10   STANDSTILL. The Purchaser agrees that, in the event of an
Underwritten Offering by the Seller of which the Purchaser has been given at
least 30 days advance notice by the Seller , if requested by the managing
underwriter of such Underwritten Offering, the Purchaser will not offer, pledge,
sell, contract to sell, grant any option for the sale of or otherwise dispose
of, directly or indirectly, any of the Registrable Securities held by the
Purchaser for a period commencing 7 days prior to and ending 90 days following
the effective date of any registration statement pertaining to such Underwritten
Offering, except with respect to any Registrable Securities included in such
registration (it being understood that the Seller shall have not any obligation
to include any Registrable Securities in such offering).

              5.11   TERMINATION. Unless sooner terminated pursuant to the terms
of this Agreement, the obligations of the Seller pursuant to this Section 5 as
to any Registrable Securities shall terminate upon the Purchaser's notification
to the Seller in writing that it does not wish to have the Registrable
Securities registered under this Agreement.

       6.     FEES AND EXPENSES. Each party shall be responsible for payment of
its own fees and expenses incurred in connection with this Agreement and the
transactions contemplated

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hereby. The foregoing notwithstanding, except as set forth in Section 5.3, with
respect to each inclusion of shares of Registrable Securities in a registration
statement pursuant to Section 5 hereof, the Seller agrees to bear all fees,
costs and expenses of and incidental to such registration and the public
offering in connection therewith; PROVIDED, HOWEVER, that the Purchaser shall
pay its own legal and accounting fees and its pro rata share of any applicable
underwriting discount and commissions. The fees, costs and expenses of
registration to be borne as provided in the preceding sentence shall include,
without limitation, all registration, filing, listing, and NASD fees, printing
expenses, fees and disbursements of counsel and accountants for the Seller, and
all legal fees and disbursements and other expenses of complying with state
securities or blue sky laws of any jurisdiction in which such securities are to
be registered or qualified.

       7.     INDEMNIFICATION; SURVIVAL.

              7.1    INDEMNITY.

                     (a)    Each of the Seller and the Purchaser agrees to
indemnify, defend and hold harmless the other, its affiliates and their
respective stockholders, directors, officers, partners, employees, agents,
successors and assigns from and against all losses, damages, liabilities,
deficiencies or obligations, including, without limitation, all claims, actions,
suits, proceedings, demands, judgments, assessments, fines, interest, penalties,
costs and expenses (including settlement costs and reasonable legal fees) to
which any of them may become subject as a result of any and all
misrepresentations or breaches of a representation or warranty made by it
herein.

                     (b)    The Seller hereby agrees to indemnify and hold
harmless the Purchaser, its officers, directors and each Person who controls the
Purchaser within the meaning of the Securities Act, from and against, and agrees
to reimburse the Seller, its officers, directors and controlling Persons and any
underwriter or broker dealer acting for the Purchaser with respect to, all
losses, damages, liabilities, deficiencies or obligations, including, without
limitation, all claims, actions, suits, proceedings, demands, judgments,
assessments, fines, interest, penalties, costs and expenses (including
settlement costs and reasonable legal fees) to which the Purchaser may become
subject under the Securities Act or otherwise, insofar as such claims, actions,
demands, losses, damages, liabilities, costs or expenses arise out of or are
based upon any untrue statement or alleged untrue statement of any material fact
contained in a registration statement that includes the Registrable Securities
of the Purchaser, any prospectus contained therein, or any amendment or
supplement thereto, or arise out of or are based upon the omission or alleged
omission to state therein a material fact required to be stated therein or
necessary to make the statements therein, in light of the circumstances in which
they were made, not misleading; PROVIDED, HOWEVER, that the Seller will not be
liable in any such case to the extent that any such claim, action, demand, loss,
damage, liability, cost or expense is caused by an untrue statement or alleged
untrue statement or omission or alleged omission so made in conformity with
written information furnished by the Purchaser specifically for use in the
preparation thereof.

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                     (c)    The Purchaser hereby agrees to indemnify and hold
harmless the Seller, its officers, directors and each Person who controls the
Seller within the meaning of the Securities Act, from and against, and agrees to
reimburse the Seller, its officers, directors and controlling Persons with
respect to, all losses, damages, liabilities, deficiencies or obligations,
including, without limitation, all claims, actions, suits, proceedings, demands,
judgments, assessments, fines, interest, penalties, costs and expenses
(including settlement costs and reasonable legal fees) to which the Seller, its
officers, directors or such controlling Persons may become subject under the
Securities Act or otherwise, insofar as such claims, actions, demands, losses,
damages, liabilities, costs or expenses are caused by any untrue statement or
alleged untrue statement of any material fact contained in a registration
statement that includes the Registrable Securities of the Purchaser, any
prospectus contained therein or any amendment or supplement thereto, or are
caused by the omission or the alleged omission to state therein a material fact
required to be stated therein or necessary to make the statements therein, in
light of the circumstances in which they were made, not misleading, in each case
to the extent, but only to the extent, that such untrue statement or alleged
untrue statement or omission or alleged omission was so made in reliance upon
and in conformity with written information furnished by the Purchaser
specifically for use in the preparation thereof. Notwithstanding the foregoing,
the Purchaser shall be obligated hereunder to pay no more than the net proceeds
realized by it upon its sale of Registrable Securities included in such
registration statement.

              7.2    PROCEDURE. Promptly after receipt by an indemnified party
under this Section 7 of notice of the commencement of any action, such
indemnified party will, if a claim in respect thereof is to be made against the
indemnifying party, notify the indemnifying party of the commencement thereof.
In case any such action is brought against any indemnified party, and it
notifies the indemnifying party of the commencement thereof, the indemnifying
party will be entitled to participate in, and, to the extent that it may wish
jointly with any other indemnifying party similarly notified, to assume the
defense thereof, with counsel reasonably satisfactory to such indemnified party,
and after notice from the indemnifying party of its election so to assume the
defense thereof, the indemnifying party will not be liable to such indemnified
party under this Section 7 for any legal or other expenses subsequently incurred
by such indemnified party in connection with the defense thereof. The indemnity
provided under this Agreement shall not apply to amounts paid in settlement of
any claim, action, suit or proceeding if such settlement is effected without the
consent of the indemnifying party, which consent shall not be unreasonably
withheld. No indemnifying party will 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 the indemnified party of a release from
all liability in respect of such claim, action, suit or proceeding.

              7.3    SURVIVAL. All representations made herein by the Seller and
the Purchaser shall survive the closing of the transactions contemplated hereby
for a period of three (3) years. Any matter as to which a claim has been
asserted by notice to the other party that is pending or unresolved at the end
of such survival period shall continue to be covered by this Section 6 until
such matter is finally terminated or otherwise resolved by the parties under
this Agreement or by a court of competent jurisdiction and any amounts payable
hereunder are finally determined and paid.

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       8.     SUCCESSORS AND ASSIGNS; PARTIES IN INTEREST. This Agreement shall
bind and inure to the benefit of (i) the Purchaser, (ii) the Seller and (iii)
their respective successors and assigns, including without limitation any Person
who succeeds to the rights and properties of a Party as a result of a merger,
consolidation, acquisition of substantially all of a Party's assets or similar
transaction. Except as provided above, no party may assign its rights under this
Agreement without the consent of the other, which consent shall not be
unreasonably withheld.

       9.     ENTIRE AGREEMENT. This Agreement (as amended from time to time)
and the other writings referred to herein or delivered pursuant hereto which
form a part hereof contain the entire agreement among the parties with respect
to the subject matter hereof and supersede all prior and contemporaneous
arrangements or understandings with respect thereto.

       10.    NOTICES. All notices, requests, consents and other communications
hereunder to any party shall be in writing and shall be delivered in person or
duly sent by overnight courier, facsimile transmission or first class registered
or certified mail, return receipt requested, postage prepaid, addressed to such
party at the address set forth below or such other address as may hereafter be
designated in writing by the addressee to the addressor listing all parties:

              (a)    If to the Purchaser:

                     MERCK & Co., Inc.
                     One MERCK Drive
                     P.O. Box 100, WS3A-65
                     Whitehouse Station, NJ 08889-0100
                     Attention: Office of Secretary
                     Facsimile No.: (908)735-1246

                     With a copy (which shall not constitute notice) to:

                     MERCK & Co., Inc.
                     One MERCK Drive
                     P.O. Box 100, WS2A-30
                     Whitehouse Station, NJ 08889-0100
                     Attention: Chief Licensing Officer
                     Facsimile: (908) 735-1214

              (b)    If to the Seller:

                     deCODE genetics, Inc.
                     Sturlugata 8
                     IS-101, Reykjavik, Iceland
                     Attn: President
                     Facsimile No. : +354 570 1901

                                       11
<Page>

                     and

                     Attn: Legal Department
                     Facsimile No. : +354 570 1806

                     With a copy (which shall not constitute notice) to:

                     Stevens & Lee, P.C.
                     600 College Road East
                     Princeton, NJ  08540
                     Attn: Marsha E., Novick, Esq.
                     Facsimile: 1-610-371-7929

All such notices and communications shall be deemed to have been give in the
case of (a) facsimile transmission on the date sent, (b) personal delivery on
the date of such delivery, (c) overnight courier on the day following delivery
to such courier and (d) mailing on the third day after the posting thereof.

       11.    CHANGES. The terms and provisions of this Agreement may not be
modified or amended, or any of the provisions hereof waived, temporarily or
permanently, except pursuant to the consent of the affected party.

       12.    COUNTERPARTS. This Agreement may be executed in any number of
counterparts, and each such counterpart hereof shall be deemed to be an original
instrument, but all such counterparts together shall constitute but one
agreement.

       13.    HEADINGS. The headings of the sections of this Agreement have been
inserted for convenience of reference only and shall not be deemed to be a part
of this Agreement.

       14.    GOVERNING LAW. This Agreement shall be governed by and construed
in accordance with the laws of the State of New Jersey, without regard to
conflict of laws.

       15.    SEVERABILITY. Any provision of this Agreement that is prohibited
or unenforceable in any jurisdiction shall, as to such jurisdiction, be
ineffective to the extent of such prohibition or unenforceability without
invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction.

       16.    FURTHER ASSURANCES. The parties hereto shall, subsequent to the
date hereof, execute and deliver such further documentation, and take such
further action, in each case without cost to the other party, as shall be
reasonably requested by such other party hereto to further evidence and perfect
the completion of the transactions contemplated hereby.

                                       ***

                                       12
<Page>

       IN WITNESS WHEREOF, the parties hereto have caused this Stock and Warrant
Purchase Agreement to be duly executed on their behalf.

                                   deCODE genetics, Inc.

                                   By: /s/ Kari Stefansson
                                       ---------------------------------

                                   Name:  Kari Stefansson
                                          ------------------------------

                                   Title: CEO
                                          ------------------------------

                                   Merck & Co., Inc.

                                   By: /s/ Raymond V. Gilmartin
                                       ---------------------------------

                                   Name:  Raymond V. Gilmartin
                                          ------------------------------

                                   Title: Chairman, President and
                                          ------------------------------
                                          Chief Executive Officer

<Page>

                                    EXHIBIT A

                                 FORM OF WARRANTExhibit 10.14

 

EMPLOYMENT AGREEMENT

 

THIS
EMPLOYMENT AGREEMENT (“Agreement”) is entered into by and between Gregory R.
Blatt (“Executive”) and InterActiveCorp, a Delaware corporation (the
“Company”), and is effective November 5, 2003 (the “Effective Date”).

 

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

 

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

 

1A.          EMPLOYMENT.  The Company agrees to employ Executive as
Senior Vice President, General Counsel and Secretary and Executive accepts and
agrees to such employment.  During
Executive’s employment with the Company, Executive shall perform all services
and acts necessary or advisable to fulfill the duties and responsibilities as
are commensurate and consistent with Executive’s position and shall render such
services on the terms set forth herein. 
During Executive’s employment with the Company, Executive shall report
directly to the Vice Chairman of the Company or such person(s) who report
directly to the Chairman or Chief Executive Officer of the Company and have a
title higher than Senior Vice President, as from time to time may be designated
by the Company (hereinafter referred to as the “Reporting Officer”).  Executive shall have such powers and duties
with respect to the Company as may reasonably be assigned to Executive by the
Reporting Officer, to the extent consistent with Executive’s position and
status.  Executive agrees to devote all
of Executive’s working time, attention and efforts to the Company and to perform
the duties of Executive’s position in accordance with the Company’s policies as
in effect from time to time. 
Executive’s principal place of employment shall be the Company’s offices
located in New York, New York.

 

2A.          TERM OF AGREEMENT.  The term (“Term”) of this Agreement shall
commence on the Effective Date and shall continue through the third anniversary
of the Effective Date, unless sooner terminated in accordance with the provisions
of Section 1 of the Standard Terms and Conditions attached hereto.

 

3A.          COMPENSATION.

 

                (a)           BASE SALARY.  During the Term, the Company shall pay
Executive an annual base salary of $400,000 (the “Base Salary”), payable in
equal biweekly installments or in accordance with the Company’s payroll
practice as in effect from time to time. 
For all purposes under this Agreement, the term “Base Salary” shall
refer to Base Salary as in effect from time to time.

 

 

(b)             DISCRETIONARY
BONUS.  During the Term, Executive
shall be eligible to receive discretionary annual bonuses, provided that
promptly following the Effective Date, the Company shall provide Executive with
a bonus amount equal to $100,000, which amount shall reduce on a dollar for
dollar basis Executive’s bonus for calendar year 2003.

 

(c)             RESTRICTED
STOCK UNITS.  In consideration of
Executive’s entering into this Agreement and as an inducement to join the
Company, Executive shall be granted restricted stock units representing 35,000
shares of Common Stock of the Company (the “Restricted Stock Units”) pursuant
to the Company’s Amended and Restated 2000 Stock and Annual Incentive Plan (the
“Plan”) and a restricted stock unit agreement (the “Restricted Stock Unit
Agreement”), subject to the approval by the Compensation Committee of the Board
of Directors of the Company.  The
Restricted Stock Units are subject to such performance conditions that the
Compensation Committee has determined are advisable and appropriate to meet the
conditions of Section 162(m) of the Internal Revenue Code of 1986, as
amended.  The Restricted Stock Units
shall vest and no longer be subject to any restriction in four equal
installments on each of the second, third, fourth and fifth anniversaries of
the Effective Date (the “Restriction Period”), subject to Executive’s continued
employment with the Company and the satisfaction of the performance conditions
for the Restricted Stock Units, provided that the Restricted Stock Units
shall (i) fully vest and no longer be subject to any restrictions in the event
of a Change in Control (as defined in the Plan), and (ii) in the event that
Executive incurs a termination of employment (other than by reason of
Executive’s death or Disability) by the Company without Cause (as defined in
Section 1(c) of the Standard Terms and Conditions) or by Executive for Good Reason
(as defined in Section 1(d) of the Standard Terms and Conditions), the
Restricted Stock Units will vest and no longer be subject to any restriction in
accordance with the schedule set forth on Exhibit A.  The terms of this Section 3A(c) shall be
further supplemented by the terms of the Restricted Stock Unit Agreement.

 

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

 

(i)            Reimbursement
for Business Expenses.  During the
Term, the Company shall reimburse Executive for all reasonable and necessary
expenses incurred by Executive in performing Executive’s duties for the
Company, on the same basis as similarly situated executives generally and in
accordance with the Company’s policies as in effect from time to time.

 

(ii)           Vacation.  During the Term, Executive shall be entitled
to paid vacation per year, in accordance with the plans, policies, programs and
practices of the Company applicable to similarly situated executives of the
Company generally.

 

 

2

 

4A.          NOTICES.  All notices and other communications under
this Agreement shall be in writing and shall be given by first-class mail,
certified or registered with return receipt requested or hand delivery
acknowledged in writing by the recipient personally, and shall be deemed to
have been duly given three days after mailing or immediately upon duly
acknowledged hand delivery to the respective persons named below:

 

	
  If to the
  Company:

  	
   

  	
  InterActiveCorp

  
	
   

  	
   

  	
  152 West 57th
  Street

  
	
   

  	
   

  	
  New York,
  NY  10019

  
	
   

  	
   

  	
  Attention:  Vice Chairman

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  With a copy
  to:

  	
   

  	
  Wachtell,
  Lipton, Rosen & Katz

  
	
   

  	
   

  	
  51 West 52nd
  Street

  
	
   

  	
   

  	
  New York,
  New York, 10019

  
	
   

  	
   

  	
  Attention:  Michael S. Katzke, Esq.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  If to
  Executive:

  	
   

  	
  At the most
  recent address on record for Executive at the Company.

  

 

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

 

5A.          GOVERNING LAW;
JURISDICTION.  This Agreement and
the legal relations thus created between the parties hereto shall be governed
by and construed under and in accordance with the laws of the State of New York
without reference to the principles of conflicts of laws.  Any and all disputes between the parties
which may arise pursuant to this Agreement will be heard and determined solely
before an appropriate federal court in New York, or, if not maintainable
therein, then in an appropriate New York state court.  The parties acknowledge that such courts have jurisdiction to
interpret and enforce the provisions of this Agreement, and the parties consent
to, and waive any and all objections that they may have as to, personal
jurisdiction and/or venue in such courts.

 

6A.          COUNTERPARTS.  This Agreement may be executed in several
counterparts, each of which shall be deemed to be an original but all of which
together will constitute one and the same instrument.  Executive expressly understands and acknowledges that the
Standard Terms and Conditions attached hereto are incorporated herein by
reference, deemed a part of this Agreement and are binding and enforceable
provisions of this Agreement. 
References to “this Agreement” or the use of the term “hereof” shall
refer to this Agreement and the Standard Terms and Conditions attached hereto,
taken as a whole.

 

3

 

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

 

	
   

  	
  INTERACTIVECORP

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ Authorized
  Representative

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   GREGORY
  R. BLATT

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ Gregory
  R. Blatt

  	
   

  

 

4

 

STANDARD TERMS AND CONDITIONS

 

1.             TERMINATION OF EXECUTIVE’S EMPLOYMENT.

 

(a)           DEATH.  Upon termination of Executive’s employment prior to the
expiration of the Term by reason of Executive’s death, the Company shall pay Executive’s
designated beneficiary or beneficiaries, within 30 days of Executive’s death in
a lump sum in cash, (i) Executive’s Base Salary from the date of Executive’s
death through the end of the month in which Executive’s death occurs and (ii)
any Accrued Obligations (as defined in Section 1(f) below).

 

(b)           DISABILITY.  If, as a result of Executive’s incapacity due to physical or
mental illness (“Disability”), Executive shall have been absent from the
full-time performance of Executive’s duties with the Company for a period of
four consecutive months and, within 30 days after written notice is provided to
Executive by the Company (in accordance with Section 4A hereof), Executive
shall not have returned to the full-time performance of Executive’s duties, Executive’s
employment under this Agreement may be terminated by the Company for
Disability.  During any period prior to
such termination during which Executive is absent from the full-time
performance of Executive’s duties with the Company due to Disability, the
Company shall continue to pay Executive’s Base Salary at the rate in effect at
the commencement of such period of Executive’s absence, offset by any amounts
payable to Executive under any disability insurance plan or policy provided by
the Company.  Upon termination of
Executive’s employment due to Disability, the Company shall pay Executive
within 30 days of such termination (i) Executive’s Base Salary from the date of
Executive’s termination of employment for Disability through the end of the
month in which termination occurs in a lump sum in cash, offset by any amounts
payable to Executive under any disability insurance plan or policy provided by
the Company with respect to such month; and (ii) any Accrued Obligations (as
defined in Section 1(f) below).

 

(c)           TERMINATION FOR CAUSE/RESIGNATION WITHOUT
GOOD REASON.  The Company may
terminate Executive’s employment under this Agreement with or without Cause at
any time and Executive may resign under this Agreement with or without Good
Reason at any time.   As used herein,
“Cause” shall mean:   (i) the plea of
guilty or nolo  contendere to, or conviction for, a felony offense
by Executive; provided, however, that after indictment, the
Company may suspend Executive from the rendition of services, but without
limiting or modifying in any other way the Company’s obligations under this
Agreement; (ii) a material breach by Executive of a fiduciary duty owed to the
Company; (iii) a material breach by Executive of any of the covenants made by
Executive in Section 2 hereof; (iv) the willful or gross neglect by
Executive of the material duties required by this Agreement; or (v) a knowing
and material violation of any Company policy pertaining to ethics, wrongdoing
or conflicts of interest.  Upon
Executive’s (A) termination of employment by the Company for Cause prior to the
expiration of the Term or (B) resignation without Good Reason prior to the
expiration of the Term, this Agreement shall terminate without further
obligation by the Company, except for the payment of any Accrued Obligations
(as defined in Section 1(f) below).

 

 

(d)           TERMINATION BY THE COMPANY OTHER THAN FOR
DEATH, DISABILITY OR CAUSE OR RESIGNATION BY EXECUTIVE FOR GOOD REASON.  Upon termination of Executive’s employment
prior to expiration of the Term (i) by the Company without Cause (other than
for death or Disability) or (ii) by Executive for Good Reason (as defined
below), then (a) the Company shall continue to pay Executive the Base Salary
through the end of the Term over the course of the then remaining Term, (b) the
Company shall pay Executive within 30 days of the date of such termination in a
lump sum in cash any Accrued Obligations (as defined in Section 1(f) below) and
(c) the Restricted Stock Units shall vest and no longer be subject to restriction
as provided in Section 3A(c) hereof. 
The payment to Executive of the severance benefits described in this
Section 1(d) shall be subject to Executive’s execution and non-revocation of a
general release of the Company and its affiliates in a form substantially
similar to that used for similarly situated executives of the Company and its
affiliates and Executive’s compliance with the restrictive covenants set forth
in Section 2 (other than any non-compliance that is immaterial, does not result
in harm to the Company or its affiliates, and, if curable, is cured by
Executive promptly after receipt of notice thereof given by the Company).  Executive acknowledges and agrees that the
Company’s payment of severance benefits described in this Section 1(d) constitutes
good and valuable consideration for such release.  As used herein, “Good Reason” shall mean the occurrence of any of
the following without Executive’s prior consent:  (A) the Company’s material breach of any material provision of
this Agreement, (B) the material reduction in Executive’s title, duties,
reporting responsibilities or level of responsibilities as General Counsel of
the Company, excluding for this purpose any such reduction that is an isolated
and inadvertent action not taken in bad faith or that is authorized pursuant to
this Agreement, (C) the reduction in Executive’s Base Salary, (D) the
relocation of Executive’s principal place of employment outside the New York
metropolitan area or (E) the failure to grant the Restricted Stock Units, provided
that in no event shall Executive’s resignation be for “Good Reason” unless (x)
an event or circumstance set forth in clauses (A) through (E) shall have
occurred and Executive provides the Company with written notice thereof within
a reasonable period of time after the Executive has knowledge of the occurrence
or existence of such event or circumstance, which notice specifically
identifies the event or circumstance that Executive believes constitutes Good
Reason, (y) the Company fails to correct the circumstance or event so
identified within 30 days after the receipt of such notice, and (z) the
Executive resigns within 90 days after the date of delivery of the notice
referred to in clause (x) above.

 

(e)           MITIGATION; OFFSET.  If Executive obtains other employment during
the Term, any payments to be made to Executive under Section 1(d) hereof
after the date such employment is secured shall be offset by the amount of
compensation earned by Executive from such employment through the end of the Term.  For purposes of this Section 1(e), Executive
shall have an obligation to inform the Company regarding Executive’s employment
status following termination and during the period encompassing the Term, but
shall have no affirmative duty to seek alternate employment.

 

(f)            ACCRUED OBLIGATIONS.  As used in this Agreement, “Accrued
Obligations” shall mean the sum of (i) any portion of Executive’s accrued but
unpaid Base Salary through the date of death or termination of employment for
any reason, as the case may be; (ii) any compensation previously earned but
deferred by Executive (together with any interest or earnings

 

2

 

thereon) that has not yet been
paid; (iii) other than in the event of Executive’s resignation without Good
Reason or termination by the Company for Cause (except as required by
applicable law), any portion of Executive’s accrued but unpaid vacation pay
through the date of death or termination of employment; and (iv) any vested
benefits or amounts that Executive is otherwise entitled to receive under any
plan, policy, practice or program of or any other contract or agreement with
the Company or its affiliates in accordance with the terms thereof.

 

2.                                       CONFIDENTIAL
INFORMATION; NON-SOLICITATION; AND PROPRIETARY RIGHTS.

 

(a)           CONFIDENTIALITY.  Executive acknowledges that while employed
by the Company, Executive will occupy a position of trust and confidence.  Executive shall not, except as is
appropriate to perform Executive’s duties hereunder or as required by
applicable law, disclose to others, use, copy, transmit, reproduce, summarize,
quote or make commercial, whether directly or indirectly, any Confidential
Information.  Executive will also take
reasonable steps to safeguard such Confidential Information and prevent its
loss, theft, or inadvertent disclosure to third persons.  This Section 2 shall apply to Confidential
Information acquired by Executive whether prior or subsequent to the execution
of this Agreement.  “Confidential
Information” shall mean information about the Company or any of its
subsidiaries or affiliates, and their respective clients and customers,
including (without limitation) any proprietary knowledge, trade secrets, data,
formulae, information and client and customer lists and all papers, resumes,
and records (including computer records) of the documents containing such
Confidential Information, provided that Confidential Information shall
not mean any such information that is previously disclosed to, or in possession
of, the public other than by reason of Executive’s breach of this
Agreement.  Executive acknowledges that
such Confidential Information is specialized, unique in nature and of great
value to the Company and its subsidiaries or affiliates, and that such
information gives the Company and its subsidiaries or affiliates a competitive
advantage.  Executive agrees to deliver
or return to the Company, at the Company’s request at any time or upon
termination or expiration of Executive’s employment or as soon thereafter as possible,
all documents, computer tapes and disks, records, lists, data, drawings,
prints, notes and written information (and all copies thereof) furnished by the
Company and its subsidiaries or affiliates or prepared by Executive in the
course of Executive’s employment by the Company and its subsidiaries or
affiliates.  As used in this Agreement,
“affiliates” shall mean any company controlled by, controlling or under common
control with the Company.

 

(b)           NON-SOLICITATION OF EMPLOYEES.  During the Term and for a period of 24
months following Executive’s date of termination of employment (the “Restricted
Period”), Executive shall not, without the prior written consent of the Company,
directly or indirectly, hire, recruit or solicit the employment or services of
(whether as an employee, officer, director, agent, consultant or independent
contractor), any employee, officer, director, agent, consultant or independent
contractor of the Company or any of its subsidiaries or affiliates or any such
person who has terminated his or her relationship with the Company or any of
its subsidiaries or affiliates within the six-month period prior to such
hiring, recruiting or soliciting (except for (i) such employment or hiring by
the Company or any of its subsidiaries or affiliates or (ii) such employment or
hiring by Executive of an agent, consultant or independent contractor where
such

 

3

 

the primary duties of such
person are not for the Company).  This
Section 2(b) shall not apply to any administrative assistant working directly
for Executive.

 

(c)           NON-SOLICITATION OF BUSINESS PARTNERS.  During the Restricted Period, Executive
shall not, without the prior written consent of the Company, directly or
indirectly, persuade or encourage or attempt to persuade or encourage any
business partners or business affiliates of the Company or its subsidiaries or
affiliates to cease doing business with the Company or any of its subsidiaries
or affiliates or to engage in any business competitive with the Company or its
subsidiaries or affiliates on its own or with any of competitor of the Company
or its subsidiaries or affiliates.

 

(d)           PROPRIETARY RIGHTS; ASSIGNMENT.  All Executive Developments (as defined
below) shall be made for hire by Executive for the Company or any of its
subsidiaries or affiliates.  “Executive
Developments” means any discovery, invention, design, method, technique,
improvement, enhancement, development, computer program, machine, algorithm or
other work or authorship, in each case, (A) that (i) relates to the business or
operations of the Company or any of its subsidiaries or affiliates, or (ii)
results from or is suggested by any undertaking assigned to Executive or work
performed by Executive for or on behalf of the Company or any of its subsidiaries
or affiliates, whether created alone or with others, during or after working
hours and (B) that is conceived or developed during the Term.  All Confidential Information and all
Executive Developments shall remain the sole property of the Company or any of
its subsidiaries or affiliates. 
Executive shall acquire no proprietary interest in any Confidential
Information or Executive Developments developed or acquired during the
Term.  To the extent Executive may, by
operation of law or otherwise, acquire any right, title or interest in or to
any Confidential Information or Executive Development, Executive hereby assigns
to the Company all such proprietary rights. 
Executive shall, both during and after the Term, upon the Company’s request,
promptly execute and deliver to the Company all such assignments, certificates
and instruments, and shall promptly perform such other acts, as the Company may
from time to time in its reasonable discretion deem necessary or desirable to
evidence, establish, maintain, perfect, enforce or defend the Company’s rights
in Confidential Information and Executive Developments.

 

(e)           COMPLIANCE WITH POLICIES AND PROCEDURES.  During the Term, Executive shall adhere to
the policies and standards of professionalism set forth in the Company’s
Policies and Procedures as they may exist from time to time.  Executive hereby consents to, and expressly
authorizes, the Company’s use of Executive’s name and likeness in trade publications
and other media for trade or commercial purposes.

 

(f)            REMEDIES FOR BREACH.  Executive expressly agrees and understands
that the Company will have 30 days from receipt of Executive’s notice of any
alleged breach by the Company of this Agreement to cure any such breach.

 

Executive
expressly agrees and understands that the remedy at law for any breach by
Executive of this Section 2 will be inadequate and that damages flowing
from such breach are not susceptible to being measured in monetary terms.  Accordingly, it is acknowledged that upon Executive’s
violation or threatened violation of any provision of this Section 2, the
Company

 

4

 

shall be entitled to obtain
from any court of competent jurisdiction immediate injunctive relief and obtain
a temporary order restraining any threatened or further breach as well as an
equitable accounting of all profits or benefits arising out of such violation
without the requirement of posting any bond. 
Nothing in this Section 2 shall be deemed to limit the Company’s
remedies at law or in equity for any breach by Executive of any of the
provisions of this Section 2, which may be pursued by or available to the
Company.

 

(g)           SURVIVAL OF PROVISIONS.  The obligations contained in this Section 2
shall, to the extent provided in this Section 2, survive the termination or
expiration of Executive’s employment with the Company and, as applicable, shall
be fully enforceable thereafter in accordance with the terms of this
Agreement.  If it is determined by a
court of competent jurisdiction in any state that any restriction in this
Section 2 is excessive in duration or scope or is unreasonable or unenforceable
under the laws of that state, it is the intention of the parties that such restriction
may be modified or amended by the court to render it enforceable to the maximum
extent permitted by the law of that state.

 

3.             TERMINATION OF PRIOR
AGREEMENTS/EXISTING CLAIMS.  This
Agreement constitutes the entire agreement between the parties and terminates
and supersedes any and all prior agreements and understandings (whether written
or oral) between the parties with respect to the subject matter of this
Agreement.  Executive acknowledges and
agrees that neither the Company nor anyone acting on its behalf has made, and
is not making, and in executing this Agreement, Executive has not relied upon,
any representations, promises or inducements except to the extent the same is
expressly set forth in this Agreement. 
Executive hereby represents and warrants to the Company that Executive is
not party to any contract, understanding, agreement or policy, whether or not
written, with Executive’s most-recent employer (the “Previous Employer”) or
otherwise, that would be breached by Executive’s entering into, or performing
services under, this Agreement. 
Executive further represents that, prior to the Effective Date, he has
disclosed in writing to the Company all material existing, pending or
threatened claims against him, if any, as a result of his employment with the
Previous Employer or his membership on any boards of directors.

 

4.             ASSIGNMENT; SUCCESSORS.  This Agreement is personal in its nature and
none of the parties hereto shall, without the consent of the others, assign or
transfer this Agreement or any rights or obligations hereunder; provided,
that in the event of a merger, consolidation, transfer, reorganization, or sale
of all, substantially all or a substantial portion of, the assets of the
Company with or to any other individual or entity, this Agreement shall,
subject to the provisions hereof, be binding upon and inure to the benefit of
the Company’s successor-in-interest in such transaction, and such successor
shall discharge and perform all the promises, covenants, duties, and
obligations of the Company hereunder, and all references herein to the
“Company” shall refer to such successor.

 

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

 

5

 

6.             HEADING REFERENCES.  Section headings in this Agreement are
included herein for convenience of reference only and shall not constitute a
part of this Agreement for any other purpose. 
References to “this Agreement” or the use of the term “hereof” shall
refer to these Standard Terms and Conditions and the Employment Agreement
attached hereto, taken as a whole.

 

7.             WAIVER; MODIFICATION.  Failure to insist upon strict compliance
with any of the terms, covenants, or conditions hereof shall not be deemed a
waiver of such term, covenant, or condition, nor shall any waiver or
relinquishment of, or failure to insist upon strict compliance with, any right
or power hereunder at any one or more times be deemed a waiver or relinquishment
of such right or power at any other time or times.  This Agreement shall not be modified in any respect except by a
writing executed by each party hereto.

 

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

 

6

 

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

 

 

	
   

  	
  INTERACTIVECORP

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ Authorized
  Representative

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  GREGORY R.
  BLATT

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ Gregory
  R. Blatt

  	
   

  

 

7

 

Exhibit A

 

	
  Termination
  Date

  	
   

  	
  Percentage of Total Grant Vesting (inclusive of

  Restricted Stock Units granted hereunder

  previously vested)

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  On or prior
  to the first anniversary of the Effective Date

  	
   

  	
  0

  	
  %

  
	
   

  	
   

  	
   

  	
   

  
	
  Following
  the first anniversary of the Effective Date, but prior to the second
  anniversary of the Effective Date

  	
   

  	
  25

  	
  %

  
	
   

  	
   

  	
   

  	
   

  
	
  On or after
  the second anniversary of the Effective Date, but prior to the third
  anniversary of the Effective Date

  	
   

  	
  50

  	
  %

  
	
   

  	
   

  	
   

  	
   

  
	
  On or after
  the third anniversary of the Effective Date, but prior to the fourth
  anniversary of the Effective Date

  	
   

  	
  75

  	
  %

  
	
   

  	
   

  	
   

  	
   

  
	
  On or after
  the fourth anniversary of the Effective Date

  	
   

  	
  100

  	
  %

  

 

8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00062-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00062-of-00352.parquet"}]]