Document:

<PAGE>   1
                                                                    EXHIBIT 10.8

                                 PROMISSORY NOTE

$100,000                                                        February 9, 2000

         KEITH B. HALL, a natural person residing in the State of North Carolina
(the "Borrower"), for value received, hereby promises to pay to LENDINGTREE,
INC. (the "Company"), or its assigns, the principal amount of ONE HUNDRED
THOUSAND DOLLARS ($100,000) (the "Loan"), of which THIRTY-THREE THOUSAND THREE
HUNDRED THIRTY THREE DOLLARS AND SIXTY-SEVEN CENTS ($33,333.67) shall be paid on
each of the Maturity Dates, with interest (computed on the basis of the actual
number of days elapsed over a 360 day year) payable, from the date hereof, on
the unpaid balance of the Loan at a rate per annum equal to the Federal Rate, on
January 31 of each year, beginning with January 31, 2001, in which a principal
balance is outstanding, in arrears. Payments of principal and interest hereon
shall be made in lawful money of the United States of America at the address for
such purpose specified in Section 9 or at such other address as you or any
subsequent holder of this Note may designate in writing, without requiring any
presentation or surrender of this Note, except if this Note is paid or prepaid
in full it shall be promptly surrendered to the Borrower and canceled.

Section 1. Prepayment. At any time, or from time to time, the Borrower may, at
Borrower's option, or as required by Section 4(d) hereto, prepay all or any part
of this Note. In the event of any such prepayment, the Borrower shall give
written notice thereof to the holder of this Note not less than 10 days (or
three (3) business days if the prepayment is required by Section 4(d)) prior to
the date fixed for such prepayment. Each such notice shall set forth (a) the
date fixed for prepayment, (b) the aggregate principal amount of and accrued on
this Note to be prepaid on such date.

Section 2. Acceleration. In addition to the rights granted to the holder of this
Note under Section 3 hereof, if the Borrower's employment with the Company is
terminated for any reason, on the date which is 45 days from the date such
termination becomes effective, the holder of this Note shall have the right to
declare the entire principal of, and interest accrued on, this Note then
outstanding to be, and this Note shall thereupon become, forthwith due and
payable, without any presentment, demand, protest, or other notice of any kind,
all of which are hereby expressly waived, and the Borrower shall forthwith pay
to the holder of this Note the entire principal of, and interest accrued
interest on, this Note.

<PAGE>   2

Section 3. Representations and Warranties.

The Borrower represents and warrants that:

                  (1) When executed and delivered, this Note will constitute the
valid and legally binding obligation of the Borrower, enforceable against the
Borrower in accordance with its terms.

                  (2) The execution, delivery and performance of this Note will
not violate or conflict with or constitute a default under, or result in the
creation of any mortgage, lien, charge or encumbrance upon any of the properties
or assets of the Borrower pursuant to any term of any agreement, instrument,
judgment, decree, order, law, statute, rule or regulation applicable to the
Borrower or any of Borrower's respective properties or assets.

                  (3) The Borrower is not bound by or subject to any agreement,
instrument, judgment, decree, order, law, statute, rule or regulation under the
terms of or pursuant to which Borrower's obligation to pay interest or principal
of this Note, or to perform Borrower's obligations hereunder, is in any way
restricted.

Section 4. Covenants. The Borrower covenants and agrees that until the principal
amount of this Note, together with interest thereon and all other obligations
incurred hereunder, are paid in full:

                  (a) Payment of Principal and Interest. The Borrower shall duly
and punctually pay to the Company, when due, all principal of and interest on
this Note on the dates and in the manner provided herein. Principal or interest
shall be considered paid on the date it is due if the Company withholds on that
date money otherwise payable to the Borrower, in the amounts and at the times
required under this Note. The Borrower shall pay interest on overdue principal
from the due date at the Federal Rate plus 2.0% per annum.

                  (b) No Transfer of Pledged Stock. The Borrower shall not
transfer any of the Pledged Stock except in accordance with the terms and
provisions of the Pledge Agreement.

                  (c) Use of Proceeds. The Borrower shall use the proceeds from
the Loan solely for the purpose of acquiring the Pledged Stock and not use the
proceeds from the Loan, directly or indirectly, to purchase or carry margin
securities, as those terms are defined in the laws and regulation applicable to
margin loans as promul-

                                       2
<PAGE>   3

gated by the Securities and Exchange Commission and the Board of Governors of
the Federal Reserve System.

                  (d) Mandatory Prepayment. Within three (3) business days after
the receipt by the Borrower of any Net Proceeds, the Borrower shall apply such
Net Proceeds to a prepayment pursuant to Section 1 hereto. For the purposes of
this paragraph, "Net Proceeds" shall mean (x) any proceeds from (i) any
transfer, sale or other disposition of all or a portion of the Other Stock or
(ii) any loan, borrowing or other financing secured or guaranteed by all or a
portion of the Other Stock less (y) all reasonable fees and expenses incurred or
to be incurred and all federal state, local and foreign taxes assessed or to be
assessed in connection with such transfer or loan.

                  (4) No Transfer of Other Stock. The Borrower shall not
transfer any of the Other Stock without the prior written consent of the
Company. The Borrower shall enter into a Stop Transfer Agreement substantially
in the form attached as Exhibit B hereto.

Section 5. Remedies.

Each of the following shall be Events of Default under this Note:

                  (5) the Borrower defaults in the due and punctual payment of
all or any part of the principal of this Note when and as the same shall become
due and payable, whether at the stated maturity thereof, by notice of or demand
for prepayment, or otherwise;

                  (6) the Borrower defaults in the due and punctual payment of
any interest on this Note when and as such interest shall become due and payable
and such default shall have continued for a period of five days;

                  (e) any representation or warranty made by the Borrower herein
shall prove to be untrue in any material respect as of the date of the issuance
or making thereof;

                  (7) the Borrower defaults in the performance or observance of
any other of the provisions contained in this Note and such default shall have
continued for a period of 30 days after the earlier of (i) the Borrower's
obtaining actual knowledge of such default or (ii) the Borrower's receipt of
written notice of such default;

                                       3
<PAGE>   4

                  (f) the Borrower shall default in the payment when due
(whether by scheduled maturity, by required prepayment, by acceleration, by
demand, or otherwise) of any indebtedness for borrowed money owing to any other
person, or any interest or premium thereon of any amount owing in respect of
such indebtedness, in excess of $50,000; or the Borrower shall default in the
performance or observance of any obligation or condition with respect to such
indebtedness or any other event shall occur or condition exist, if the effect of
such default, event or condition is to accelerate the maturity of any such
indebtedness or to permit (without regard to any required notice or lapse of
time) the holder or holders thereof, or any trustee or agent for such holders,
to accelerate the maturity of any such indebtedness, or any such indebtedness
shall become or be declared to be due and payable prior to its stated maturity
other than as a result of a regularly scheduled payment date;

                  (8) there shall remain in force, undischarged, unbonded, or
unstayed, for more than thirty (30) days, any final judgment against the
Borrower that, with other outstanding final judgments, undischarged, against the
Borrower exceeds in the aggregate $10,000;

                  (9) the Borrower shall (i) apply for or consent to the
appointment of, or the taking of possession by, a receiver, custodian, trustee
or liquidator; (ii) be generally unable to pay the Borrower's debts as such
debts become due; (iii) make a general assignment for the benefit of the
Borrower creditors; (iv) commence a voluntary case under the Bankruptcy Code;
(v) file a petition seeking to take advantage of any other law of any
jurisdiction relating to bankruptcy, insolvency, or composition or readjustment
of debts; (vi) fail to controvert in a timely and appropriate manner, or
acquiesce in writing to, any petition filed against the Borrower in an
involuntary case under the Bankruptcy Code; or (vii) take any action for the
purpose of effecting any of the foregoing;

                  (10) a proceeding or case shall be commenced, without the
application or consent of the Borrower, in any court of competent jurisdiction,
seeking (i) the liquidation of the Borrower's assets, or the composition or
readjustment of the Borrower's debts, (ii) the appointment of a trustee,
receiver, custodian, liquidator or the like of any substantial part of the
Borrower's assets, or (iii) similar relief in respect of the Borrower under any
law of any jurisdiction relating to bankruptcy, insolvency, or the composition
or readjustment of debts, and such proceedings or case shall continue
undismissed, or an order, judgment or decree approving or ordering any of the
foregoing shall be entered and continue unstayed and in effect for a period of
sixty (60) days; or an order for relief against the Borrower shall be entered in
an

                                       4
<PAGE>   5

involuntary case under any bankruptcy, insolvency, composition, readjustment of
debt, liquidation of assets or similar law of any jurisdiction;

                  (g) the Borrower shall die or become incapacitated or
otherwise unable to fulfill his duties with the Company; or

                  (h) any provision of the Pledge Agreement shall for any reason
cease to be valid and binding on the Borrower or the Borrower shall so state in
writing; or the Pledge Agreement shall for any reason cease to create a valid
lien on any of the Collateral purported to be covered thereby, or such lien
shall cease to be a perfected and first priority lien with respect to the
Collateral, or the Borrower shall so state in writing;

If an Event of Default specified in clauses (g) and (h) of this Section 3 shall
exist, this Note shall automatically become immediately due and payable together
with interest accrued thereon, without presentment, demand, protest or notice of
any kind, all of which are hereby expressly waived.

If an Event of Default other than those specified in clauses (g) and (h) shall
exist, the holder of this Note may exercise any right, power or remedy permitted
to such holder by applicable law, and shall have, in particular, without
limiting the generality of the foregoing, the right to declare the entire
principal of, and interest accrued on, this Note then outstanding to be, and
this Note shall thereupon become, forthwith due and payable, without any
presentment, demand, protest, or other notice of any kind, all of which are
hereby expressly waived, and the Borrower shall forthwith pay to the holder of
this Note the entire principal of, and interest accrued on, this Note.

No course of dealing on the part of the holder of this Note nor any delay or
failure on the part of the holder of this Note to exercise any right shall
operate as a waiver of such right or otherwise prejudice such holder's rights,
powers and remedies. If the Borrower fails to comply with any provision of this
Note the Borrower shall pay to the holder, to the extent permitted by applicable
law, such further amounts as shall be sufficient to cover the costs and
expenses, including but not limited to reasonable attorneys' fees, incurred by
such holder in collecting any sums due on this Note or in otherwise assessing,
analyzing or enforcing any rights or remedies that are or may be available to
it.

The Borrower further waives and agrees not to assert any rights or privileges it
may acquire under Section 9-112 of the New York Uniform Commercial Code and the
Borrower shall be liable for the deficiency if the proceeds of any sale or other

                                       5
<PAGE>   6

disposition of the Collateral are insufficient to pay all amounts to which the
holder of the Note is entitled, and the fees of any attorneys employed by the
holder of the Note to collect such deficiency.

Section 6. Security. In order to secure the payment and performance in full of
all of its obligations under this Note, the Borrower covenants and agrees to
pledge the Pledged Stock (as defined in the Pledge Agreement) owned by the
Borrower, substantially in accordance with the terms of the Pledge Agreement
attached hereto as Exhibit A.

Section 7. Right of Set-off. The Company is hereby authorized, at any time and
from time to time, to the fullest extent permitted by law, to set off and apply
any and all amounts at any time held and all indebtedness of other amounts at
any time owing by the Borrower to or for the credit or the account of the
Company regardless of the currency in which any such deposit, amount or
indebtedness may be denominated, against any and all of the obligations of the
Borrower now or hereafter existing, irrespective of whether or not the Company
shall have made any demand and although such obligations may be unmatured. The
Company will promptly notify the Borrower after any such set-off and
application, provided that the failure to give such notice shall not affect the
validity of such set-off and application. The rights of the Company hereunder
are in additional to other rights and remedies (including, without limitation,
other rights of set-off) which the Company may have.

Section 8. Definitions and Principles of Construction.

                  (a) Defined Terms. As used in this Note, the following terms
shall have the following meanings (such meanings to be equally applicable to
both the singular and plural forms of the terms defined):

"Bankruptcy Code" shall mean Title 11 of the United States Code entitled
"Bankruptcy", as now and hereafter in effect, or any successor statutes.

"Collateral" shall have the meaning assigned to that term in the Pledge
Agreement.

"Credit Documents" shall mean this Note and the Pledge Agreement.

"Federal Rate" shall mean the applicable federal rate, as defined under sections
1274(d) and 7872 of the Internal Revenue Code of 1986, as amended, compounded
annually.

"Maturity Dates" shall mean January 31, 2002, 2003, and 2004, respectively.

                                       6
<PAGE>   7

"Material Adverse Effect" shall mean a material adverse effect on (i) the
properties, assets, condition (financial or otherwise) or earnings prospects of
Borrower, (ii) the ability of the Borrower to fully and timely perform the
Secured Obligations, (iii) the legality, validity, binding effect or
enforceability against the Borrower of any Credit Document or (iv) any material
rights, remedies and benefits available to, or conferred upon, the Company, any
holder of the Note or any agent (appointed in accordance with the Pledge
Agreement) under any Credit Document.

"Minimum Collateral Value" shall mean the product of the aggregate outstanding
principal and interest on the Loans multiplied by four (4):

"Other Stock" shall mean all capital stock of the Company, other than the
Pledged Stock, now or hereafter directly held in the name of the Borrower.

"Pledge Agreement" shall mean the Pledge Agreement dated as of even date
herewith between the Borrower and the Company, as the same may be amended,
supplemented or otherwise modified from time to time.

"Pledged Stock" shall have the meaning assigned to that term in the Pledge
Agreement.

"Surplus" shall have the meaning assigned to that term in Section 10.

"Secured Obligations" shall have the meaning assigned to that term in the Pledge
Agreement.

"Transfer Event" shall mean (i) any transfer, sale or other disposition of all
or a portion of the Other Stock or (ii) any loan, borrowing or other financing
secured or guaranteed by all or a portion of the Other Stock.

                  (b) Principles of Construction. All references to sections and
exhibits are to sections and exhibits in or to this Note unless otherwise
specified. The words "hereof," "herein" and "hereunder" and words of similar
import when used in this Note shall refer to this Note as a whole and not to any
particular provision of this Note.

Section 9. Notices.

                                       7
<PAGE>   8

The Borrower's address for all communications related to this Note shall be as
follows:

                           19309 Peninsula Shores Rd.
                         Cornelius, North Carolina 28031

The Company's address for all communications and payments related to this Note
shall be as follows:

                                LendingTree, Inc
                           6701 Carmel Road, Suite 205
                         Charlotte, North Carolina 28226
                           Attention: General Counsel

With a copy to:

                                LendingTree, Inc
                           6701 Carmel Road, Suite 205
                         Charlotte, North Carolina 28226
                       Attention: Chief Executive Officer

Section 10. Sale of Pledged Stock. In the event that, pursuant to Section 8 of
the Pledge Agreement, the Pledgor sells a portion or all of the Pledged Stock,
the Company will deliver to the buyer the corresponding number of shares of
Pledged Stock against the aggregate amount of proceeds from such sale. In the
event that the aggregate amount of proceeds from such sale exceeds the amount of
principal and accrued interest (including, without limitation, fees, expenses or
otherwise) then outstanding on the Loan (the "Surplus"), the Company shall pay
the Pledgor the Surplus.

Section 11. Successors and Assigns.

This Note shall inure to the benefit of and be binding upon the successors and
assigns of the Company or any holder of this Note. The provisions hereof are
intended to be for the benefit of all holders, from time to time, of this Note,
and shall be enforceable by any such holder, whether or not an express
assignment to such holder of rights hereunder shall have been made by the holder
or any successor or assign. The Borrower may not assign this Note without the
prior written consent of the holder of this Note.

                                       8
<PAGE>   9

Section 12. Expenses. The Borrower agrees to pay all reasonable out-of-pocket
expenses incurred by the holder of this Note, including the reasonable fees,
charges and disbursement of counsel for such holder, in connection with any
amendment, waiver, supplement or modification to, or enforcement or protection
of such holder's rights under this Note.

Section 13. No Waiver; Remedies Cumulative. No failure or delay on the part of
the Company in exercising any right, power or privilege hereunder and no course
of dealing between the Borrower and the Company shall operate as a waiver
thereof, nor shall any single or partial exercise of any right, power or
privilege hereunder preclude any other or further exercise thereof or hereunder
or the exercise of any other right, power or privilege hereunder. The rights,
powers and remedies herein expressly provided are cumulative and not exclusive
of any rights, powers or remedies which the Company or the holder of this Note
would otherwise have. No notice to or demand on the Borrower in any case shall
entitle the Borrower to any other or further notice or demand in similar or
other circumstances or constitute a waiver of the rights of the Company to any
other or further action in any circumstances without notice or demand.

Section 14. GOVERNING LAW. THIS NOTE SHALL BE CONSTRUED IN ACCORDANCE WITH AND
GOVERNED BY THE LAWS OF THE STATE OF NEW YORK (WITHOUT REGARD TO PRINCIPLES OF
CONFLICTS OF LAW).

Section 15. WAIVER OF TRIAL BY JURY. TO THE EXTENT PERMITTED BY APPLICABLE LAW,
THE BORROWER HEREBY IRREVOCABLY WAIVES ALL RIGHT OF TRIAL BY JURY IN ANY ACTION,
PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT
OR ANY MATTER ARISING HEREUNDER.

                                                     ---------------------------
                                                     Name: Keith B. Hall

                                       9
<PAGE>   10

                          EXHIBIT A TO PROMISSORY NOTE

                                PLEDGE AGREEMENT

                                       10

<PAGE>   11

                          EXHIBIT B TO PROMISSORY NOTE

                             STOP TRANSFER AGREEMENT

                                       11<PAGE>   1
                                                                    EXHIBIT 10.9

                                PLEDGE AGREEMENT

           This PLEDGE AGREEMENT (this "Agreement") is made as of this 9th day
of February, 2000, between Keith B. Hall, a natural person residing in the State
of North Carolina (the "Pledgor"), and LendingTree, Inc., a Delaware corporation
(the "Company").

                              W I T N E S S E T H :

         WHEREAS, the Pledgor desires that the Company make a loan of $100,000
(the "Loan") to Pledgor;

         WHEREAS, it is a condition precedent to the Company making such loan to
the Pledgor that the Pledgor execute and deliver to the Company a promissory
note (the "Note") in favor of the Company as evidence of Pledgor's obligation to
repay the Loan;

         WHEREAS, Pledgor is a party to a lock-up agreement with Merrill Lynch,
Pierce, Fenner & Smith Incorporated, to be effective as of February 15, 2000
(the "Lock-up Agreement"), which, among other things, restricts the
transferability of the shares for 180 days following an initial public offering
of the Company's common stock;

         WHEREAS, it is a condition precedent to the Company making such loan to
the Pledgor that the Pledgor execute and deliver to the Company this Agreement;
and

         WHEREAS, the Pledgor wishes to grant pledges, assignments and security
interests in favor of the Company as herein provided;

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

<PAGE>   2

SECTION 1.  Definitions.

          Terms not otherwise defined herein have, as used herein, the
respective meanings provided for in the Note. The following additional terms, as
used herein, have the following respective meanings:

         "Collateral" has the meaning assigned to such term in Section 3(A).

         "Company Stock" means the common stock of the Company, par value $0.01
per share listed on Schedule I hereto.

         "Loan" has the meaning assigned to such term in the recitals hereof.

         "Pledged Stock" means the Company Stock and any other capital stock
required to be pledged to the Company pursuant to Section 3(B).

         "Secured Obligations" means (i) all principal of and interest
(including, without limitation, fees, expenses or otherwise and any interest
which accrues after the commencement of any case, proceeding or other action
relating to the bankruptcy, insolvency or reorganization of the Pledgor) on the
Loan as evidenced by the Note and (ii) any amendments, restatements, renewals,
extensions or modifications of any of the foregoing.

         "Security Interests" means the security interests in the Collateral
granted hereunder securing the Secured Obligations.

         "Surplus" has the meaning assigned to such term in Section 8.

          Unless otherwise defined herein, or unless the context otherwise
requires, all terms used herein which are defined in the New York Uniform
Commercial Code as in effect on the date hereof shall have the meanings therein
stated.

SECTION 2.  Representations and Warranties.

          The Pledgor represents and warrants as follows:

         (A) Title to Pledged Securities. The Pledgor owns all of the Pledged
Stock, free and clear of any Liens other than the Security Interests. All of the
Pledged Stock has been duly authorized and validly issued, and is fully paid and
non-assessable, and is subject to no options to purchase or similar rights of
any

                                       2
<PAGE>   3

person. The Pledgor is not and will not become a party to or otherwise bound by
any agreement, other than this Agreement and the Lock-up Agreement, which
restricts in any manner the rights of any present or future holder of any of the
Pledged Stock with respect thereto.

         (B) Validity, Perfection and Priority of Security Interests. Upon the
delivery of the certificates representing the Pledged Stock to the Company in
accordance with Section 4 hereof, the Company will have valid and perfected
security interests in the Collateral subject to no prior lien. No registration,
recordation or filing with any governmental body, agency or official is required
in connection with the execution or delivery of this Agreement or necessary for
the validity or enforceability hereof or for the perfection or enforcement of
the Security Interests. The Pledgor has not performed or will not perform any
acts which might prevent the Company from enforcing any of the terms and
conditions of this Agreement or which would limit the Company in any such
enforcement.

         (C) UCC Filing Locations. The primary residence and principal place of
business of Pledgor are located at the following address:

                           19309 Peninsula Shores Drive
                           Cornelius, North Carolina 28031

                           and

                           6701 Carmel Road, Suite 205
                           Charlotte, North Carolina 28226

SECTION 3.  The Security Interests.

         In order to secure the full and punctual payment of the Secured
Obligations in accordance with the terms thereof, and to secure the performance
of all the obligations of the Pledgor hereunder:

         (A) The Pledgor hereby assigns and pledges to the Company and grants to
the Company a security interest in the Pledged Stock, and all of his rights and
privileges with respect to the Pledged Stock (whether such rights are fully
vested or may become fully vested in the future), and all income and profits
thereon, and all dividends and other payments and distributions with respect
thereto, and all proceeds of the foregoing (the "Collateral"). Contemporaneously
with the execution and

                                       3
<PAGE>   4

delivery hereof, the Pledgor is delivering certificates representing the Pledgor
Stock in pledge hereunder.

         (B) In the event that the Company at any time, in connection with the
Pledged Stock, issues any additional or substitute shares of capital stock of
any class, including, but not limited to, issuing unrestricted shares to replace
restricted shares that have vested, the Pledgor will immediately pledge and
deposit with the Company certificates representing all such shares as additional
security for the Secured Obligations. All such shares constitute Pledged Stock
and are subject to all provisions of this Agreement.

         (C) The Security Interests are granted as security only and shall not
subject to, or transfer or in any way affect or modify, any obligation or
liability of the Pledgor with respect to any of the Collateral or any
transaction in connection therewith.

SECTION 4.  Delivery of Pledged Stock.

         All certificates representing Pledged Stock delivered to the Company by
the Pledgor pursuant hereto shall be in suitable form for transfer by delivery,
or shall be accompanied by duly executed instruments of transfer or assignment
in blank, with signatures appropriately guaranteed, and accompanied by any
required transfer tax stamps, all in form and substance satisfactory to the
Company.

SECTION 5.  Filing; Further Assurances.

         (A) The Pledgor agrees that it will, at its expense and in such manner
and form as the Company may require, execute, deliver, file and record any
financing statement, specific assignment or other paper and take any other
action that may be necessary in order to create, preserve, perfect or validate
any Security Interest or to enable the Company to exercise and enforce its
rights hereunder with respect to any of the Collateral. To the extent permitted
by applicable law, the Pledgor hereby authorizes the Company to execute and
file, in the name of the Pledgor or otherwise, Uniform Commercial Code financing
statements (which may be carbon, photographic, photostatic or other
reproductions of this Agreement or of a financing statement relating to this
Agreement) which the Company in its sole discretion may deem necessary to
further perfect the Security Interests.

                                       4
<PAGE>   5

         (B) The Pledgor agrees that Pledgor will not change (i) Pledgor's name
or (ii) the location of Pledgor's primary residence or principal place of
business unless Pledgor shall have given the Company not less than 30 days'
prior notice thereof.

SECTION 6.  Right to Receive Distributions on Collateral.

         Prior to the occurrence of any Event of Default, the Pledgor shall be
entitled to receive all cash dividends, if any, on the Pledged Stock. Upon the
occurrence and during the continuance of an Event of Default, the Company shall
be entitled to retain all dividends and other payments and distributions made
upon or with respect to the Collateral and the Pledgor shall take all such
action as the Company may deem necessary or appropriate to give effect to such
right and all such dividends and other payments and distributions which are
received by the Pledgor shall be received in trust for the benefit of the
Company and shall, forthwith upon demand by the Company during the continuance
of an Event of Default, be paid over to the Company as Collateral in the same
form as received (with any necessary endorsement). After all Events of Default
that shall have occurred have been cured, the Company's right to retain
dividends, interest and other payments and distributions under this Section 6
shall cease and the Company shall pay over to the Pledgor any such Collateral
retained by the Company during the continuance of an Event of Default. Any
non-cash dividends and other payments or distributions shall be immediately
pledged to the Company hereunder.

SECTION 7.  General Authority.

         The Pledgor hereby irrevocably appoints the Company its true and lawful
attorney, with full power of substitution, in the name of the Pledgor, the
Company, or otherwise, for the sole use and benefit of the Company, but at the
expense of the Pledgor, to the extent permitted by law to exercise, at any time
and from time to time while an Event of Default has occurred and is continuing,
all or any of the following powers with respect to all or any of the Collateral:

                  (i) to demand, sue for, collect, receive and give acquittance
         for any and all monies due or to become due upon or by virtue thereof,

                  (ii) to settle, compromise, compound, prosecute or defend any
         action or proceeding with respect thereto,

                                       5
<PAGE>   6

                  (iii) to sell, transfer, assign or otherwise deal in or with
         the same or the proceeds or avails thereof, as fully and effectually as
         if the Company were the absolute owner thereof, and

                  (iv) to extend the time of payment of any or all thereof and
         to make any allowance and other adjustments with reference thereto;

provided that the Company shall give the Pledgor not less than ten days' prior
written notice of the time and place of any sale or other intended disposition
of any of the Collateral except any Collateral which is perishable or threatens
to decline speedily in value or is of a type customarily sold on a recognized
market. The Company and the Pledgor agree that such notice constitutes
"reasonable notification" within the meaning of Section 9-504(3) of the Uniform
Commercial Code.

SECTION 8.  Sale of Pledged Stock.

         The Pledgor shall not sell the Pledged Stock without the prior written
consent (which consent shall not be unreasonably withheld) of the Company. In
the event that the Pledgor sells a portion or all of the Pledged Stock, the
Company will deliver to the buyer the corresponding number of shares of Pledged
Stock against the aggregate amount of proceeds from such sale. In the event that
the aggregate amount of proceeds from such sale exceeds the amount of principal
and accrued interest (including, without limitation, fees, expenses or
otherwise) then outstanding on the Loan (the "Surplus"), the Company shall pay
the Pledgor the Surplus. If the aggregate amount of proceeds from such sale are
less than the amount of principal and accrued interest (including, without
limitation, fees, expenses or otherwise) then outstanding on the Loan, the
Pledgor shall remain liable for any deficiency. Notwithstanding anything to the
contrary in this Section 8, any sale of the Pledged Stock by the Pledgor must be
in accordance with the provisions and terms of the Lock-up Agreement.

SECTION 9.  Remedies upon Event of Default.

                                       6
<PAGE>   7

         If any Event of Default shall have occurred and be continuing, the
Company may exercise all the rights of a secured party under the Uniform
Commercial Code (whether or not in effect in the jurisdiction where such rights
are exercised) and, in addition, the Company may, without being required to give
any notice, except as herein provided or as may be required by applicable law,
(i) apply the cash, if any, then held by it as Collateral as specified in
Section 12 and (ii) if there shall be no such cash or if such cash shall be
insufficient to pay all the Secured Obligations in full, sell the Collateral or
any part thereof at public or private sale or at any broker's board or on any
securities exchange, for cash, upon credit or for future delivery, and at such
price or prices as the Company may deem satisfactory. The Company may be the
purchaser of any or all of the Collateral so sold at any public sale (or, if the
Collateral is of a type customarily sold in a recognized market or is of a type
which is the subject of widely distributed standard price quotations, at any
private sale). The Company is authorized, in connection with any such sale, if
it deems it advisable so to do, (i) to restrict the prospective bidders on or
purchasers of any of the Pledged Stock to a limited number of sophisticated
investors who will represent and agree that they are purchasing for their own
account for investment and not with a view to the distribution or sale of any of
such Pledged Stock, (ii) to cause to be placed on certificates for any or all of
the Pledged Stock or on any other securities pledged hereunder a legend to the
effect that such security has not been registered under the Securities Act of
1933 and may not be disposed of in violation of the provision of said Act, and
(iii) to impose such other limitations or conditions in connection with any such
sale as the Company deems necessary or advisable in order to comply with said
Act or any other law. The Pledgor covenants and agrees that it will execute and
deliver such documents and take such other action as the Company deems necessary
or advisable in order that any such sale may be made in compliance with law.
Upon any such sale the Company shall have the right to deliver, assign and
transfer to the purchaser thereof the Collateral so sold. Each purchaser at any
such sale shall hold the Collateral so sold absolutely and free from any claim
or right of whatsoever kind, including any equity or right of redemption of the
Pledgor which may be waived, and the Pledgor, to the extent permitted by law,
hereby specifically waives all rights of redemption, stay or appraisal which it
has or may have under any law now existing or hereafter adopted. The notice (if
any) of such sale required by Section 8 shall (1) in case of a public sale,
state the time and place fixed for such sale, (2) in case of sale at a broker's
board or on a securities exchange, state the board or exchange at which such
sale is to be made and the day on which the Collateral, or the portion thereof
so being sold, will first be offered for sale at such board or exchange, and (3)
in the case of a private sale, state the day after which such sale may be
consummated. Any such public sale shall be held at such time or times within
ordinary business hours and at such place or places as the Company may fix in
the notice of such sale. At any such

                                       7
<PAGE>   8

sale the Collateral may be sold in one lot as an entirety or in separate
parcels, as the Company may determine. The Company shall not be obligated to
make any such sale pursuant to any such notice. The Company may, without notice
or publication, adjourn any public or private sale or cause the same to be
adjourned from time to time by announcement at the time and place fixed for the
sale, and such sale may be made at any time or place to which the same may be so
adjourned. In case of any sale of all or any part of the Collateral on credit or
for future delivery, the Collateral so sold may be retained by the Company until
the selling price is paid by the purchaser thereof, but the Company shall not
incur any liability in case of the failure of such purchaser to take up and pay
for the Collateral so sold and, in case of any such failure, such Collateral may
again be sold upon like notice. The Company, instead of exercising the power of
sale herein conferred upon it, may proceed by a suit or suits at law or in
equity to foreclose the Security Interests and sell the Collateral, or any
portion thereof, under a judgment or decree of a court or courts of competent
jurisdiction.

SECTION 10.  Expenses.

         The Pledgor agrees that it will forthwith upon demand pay to the
Company:

                  (i) the amount of any taxes which the Company may have been
         required to pay by reason of the Security Interests or to free any of
         the Collateral from any Lien thereon, and

                  (ii) the amount of any and all out-of-pocket expenses,
         including the fees and disbursements of counsel and of any other
         experts, which the Company may incur in connection with (w) the
         administration or enforcement of this Agreement, including such
         expenses as are incurred to preserve the value of the Collateral and
         the validity, perfection, rank and value of any Security Interest, (x)
         the collection, sale or other disposition of any of the Collateral, (y)
         the exercise by the Company of any of the rights conferred upon it
         hereunder or (z) any Event of Default.

SECTION 11.  Limitation on Duty of Company in Respect of Collateral.

                                       8
<PAGE>   9

         Beyond the exercise of reasonable care in the custody thereof, the
Company shall have no duty as to any Collateral in its possession or control or
in the possession or control of any agent or bailee or any income thereon or as
to the preservation of rights against prior parties or any other rights
pertaining thereto. The Company shall be deemed to have exercised reasonable
care in the custody and preservation of the Collateral in its possession if the
Collateral is accorded treatment substantially equal to that which it accords
its own property, and shall not be liable or responsible for any loss or damage
to any of the Collateral, or for any diminution in the value thereof, by reason
of the act or omission of any agent or bailee selected by the Company in good
faith.

SECTION 12.  Application of Proceeds.

         Upon the occurrence and during the continuance of an Event of Default,
the proceeds of any sale of, or other realization upon, all or any part of the
Collateral and any cash held shall be applied by the Company in the following
order of priorities:

                  first, to payment of the expenses of such sale or other
         realization, including reasonable compensation to agents and counsel
         for the Company, and all expenses, liabilities and advances incurred or
         made by the Company in connection therewith, and any other unreimbursed
         expenses for which the Company is to be reimbursed pursuant to Section
         12 of the Note or Section 10 hereof;

                  second, to the ratable payment of unpaid principal of the
         Secured Obligations;

                  third, to the ratable payment of accrued but unpaid interest
         on the Secured Obligations in accordance with the provisions of the
         Note;

                  fourth, to the ratable payment of all other Secured
         Obligations, until all Secured Obligations shall have been paid in
         full; and

                  finally, to payment to the Pledgor or its successors or
         assigns, or as a court of competent jurisdiction may direct, of any
         surplus then remaining from such proceeds.

SECTION 13.  Appointment of Agents.

                                       9
<PAGE>   10

         At any time or times, in order to comply with any legal requirement in
any jurisdiction, the Company may appoint a bank or trust company or one or more
other persons, to act as agent or agents on behalf of the Company with such
power and authority as may be necessary for the effectual operation of the
provisions hereof and may be specified in the instrument of appointment (which
may, in the discretion of the Company, include provisions for the protection of
such agent or agents similar to the provisions of Section 13).

SECTION 14.  Termination of Security Interests; Release of Collateral.

         Upon the repayment in full of all Secured Obligations, the Security
Interests shall terminate and all rights to the Collateral shall revert to the
Pledgor. At any time and from time to time prior to such termination of the
Security Interests, the Company may release any of the Collateral in accordance
with its discretion. Upon any such termination of the Security Interests or
release of Collateral, the Company will, at the expense of the Pledgor, execute
and deliver to the Pledgor such documents as the Pledgor shall reasonably
request to evidence the termination of the Security Interests or the release of
such Collateral, as the case may be.

SECTION 15.  Notices.

         All notices, communications and distributions hereunder shall be given
in accordance with Section 9 of the Note.

         The Company agrees to use its reasonable efforts to provide written
notice to the Pledgor at least ten (10) business days before any amounts become
due under this Agreement or the Note. No failure by the Company to provide such
notice shall excuse or waive the performance by the Pledgor of the Pledgor's
obligations under this Agreement or the Note.

SECTION 16.  Waivers, Non-Exclusive Remedies.

         No failure on the part of the Company to exercise, and no delay in
exercising and no course of dealing with respect to, any right under this
Agreement shall operate as a waiver thereof; nor shall any single or partial
exercise by the Company of any right under the Note or this Agreement preclude
any other or further exercise thereof or the exercise of any other right. The
rights in this Agreement and the Note are cumulative and are not exclusive of
any other remedies provided by law.

SECTION 17.  Successors and Assigns.

                                       10
<PAGE>   11

         This Agreement is for the benefit of the Company and its successors and
assigns, and in the event of an assignment of all or any of the Secured
Obligations, the rights hereunder, to the extent applicable to the indebtedness
so assigned, may be transferred with such indebtedness. This Agreement cannot be
assigned by the Pledgor without the written consent of the Company and its
successors and assigns.

SECTION 18.  Changes in Writing.

         Neither this Agreement nor any provision hereof may be changed, waived,
discharged or terminated orally, but only in writing signed by the Pledgor and
the Company.

SECTION 19.  GOVERNING LAW.

         THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY
THE LAWS OF THE STATE OF NEW YORK (WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF
LAW), EXCEPT AS OTHERWISE REQUIRED BY MANDATORY PROVISIONS OF LAW AND EXCEPT TO
THE EXTENT THAT REMEDIES PROVIDED BY THE LAWS OF ANY JURISDICTION OTHER THAN NEW
YORK ARE GOVERNED BY THE LAWS OF SUCH JURISDICTION.

SECTION 20.  WAIVER OF TRIAL BY JURY.

         TO THE EXTENT PERMITTED BY APPLICABLE LAW, THE PLEDGOR HEREBY
IRREVOCABLY WAIVES ALL RIGHT OF TRIAL BY JURY IN ANY ACTION, PROCEEDING OR
COUNTERCLAIM ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT OR ANY MATTER
ARISING HEREUNDER.

SECTION 21.  Severability.

         If any provision hereof is invalid or unenforceable in any
jurisdiction, then, to the fullest extent permitted by law, (i) the other
provisions hereof shall remain in full force and effect in such jurisdiction and
shall be liberally construed in favor of the Company in order to carry out the
intentions of the parties hereto as nearly as may be possible; and (ii) the
invalidity or unenforceability of any provision hereof in any jurisdiction shall
not affect the validity or enforceability of such provision in any other
jurisdiction.

                                       11
<PAGE>   12

SECTION 22.  Counterparts.

         This Agreement may be signed in any number of counterparts, each of
which shall be an original, with the same effect as if the signatures thereto
and hereto were upon the same instrument.

                  [Remainder of page intentionally left blank]

                                       12
<PAGE>   13

         IN WITNESS WHEREOF, the parties hereto have caused this Pledge
Agreement to be duly executed and delivered as of the day and year first above
written.

                                                  By _______________________
                                                     Name:  Keith B. Hall

                                                       LENDINGTREE, INC.

                                                  By _______________________
                                                     Name:
                                                     Title:

                                       13
<PAGE>   14

                         SCHEDULE I TO PLEDGE AGREEMENT

Attached to and forming a part of that certain Pledge Agreement, dated as of
February 9, 2000 made by Keith B. Hall to LendingTree, Inc.

                                 Pledged Shares

<TABLE>
<CAPTION>
                                    Class of Stock     Certificate                      Number of Shares
Pledgor           Issuer            or Interest        No(s).          Par Value        or Interest
-------           ------            --------------     -----------     ---------        ----------------
<S>               <C>               <C>                <C>             <C>              <C>
Keith B. Hall     LendingTree,      Common                             $0.01            12,260
                   Inc.
</TABLE>

                                       14

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00009-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00009-of-00352.parquet"}]]