Document:

Seperation Agreement and Release

 Exhibit 10.5 
  
 SEPARATION AGREEMENT AND RELEASE 
  
 THIS SEPARATION AGREEMENT AND RELEASE (the “Agreement”) is entered into by Robert Schulze (hereinafter
referred to as “Employee”) and HouseValues Inc., its parent, affiliates, subsidiaries, officers, directors, and managers (hereinafter referred to as “HouseValues Inc.” or “Employer”). 
  
 RECITALS 
  
 A. Employee has been employed by HouseValues Inc., and Employee’s position was eliminated, effective 12/31/2003
(the “Termination Date”). 
  
 B. HouseValues Inc. wishes
to offer Employee a separation package in exchange for the Employee’s agreement clarifying and resolving any disputes that may exist between the Employee and HouseValues Inc. arising out of the employment relationship and the ending of that
relationship, and any continuing obligations of the parties to one another following the end of the employment relationship. 
  
 C. In addition, as more fully set forth in Section 17 below, in consideration of Employer’s agreement to lend money to Employee pursuant to, and upon
the execution of, this Agreement, the Full Recourse Promissory Note (attached hereto as Exhibit A) and the Pledge and Security Agreement (attached hereto as Exhibit B), and for other good and valuable consideration, Employee has agreed to extend the
terms of certain non-solicitation, non-competition and other agreements with Employer from one year to four years as more fully set forth in the Amendment Agreement (attached hereto as Exhibit C). 
  
 D. Each of the undersigned parties to this Agreement has had ample
opportunity to review the facts and law relevant to this issue, has consulted fully and freely with competent counsel of its choice if desired, and has entered this Agreement knowingly and intelligently without duress or coercion from any source.
Employee has had a reasonable time in which to consider whether he wished to sign this Agreement. 
  
 AGREEMENTS 
  
 NOW, THEREFORE, in consideration of the foregoing recitals and the mutual promises contained below, it is agreed as follows: 
  

	 	1.	EMPLOYMENT ENDING DATE AND RESPONSIBILITIES, FINAL PAYCHECK 

  
 Employee’s employment with HouseValues Inc. ended on 12/31/2003. Employee has no further employment duties to HouseValues Inc. 
  

 - 1 - 

 Employee was paid his final paycheck on 1/21/2004. Employee also received a lump sum for any
accrued vacation hours through Termination Date, less applicable withholdings on 1/6/2004. 
  
 Employee acknowledges that HouseValues Inc. does not owe him any other compensation in the way of bonus compensation or otherwise, with the exception of
any vested distribution for the 401K plan (if applicable). 
  

	 	2.	PAYMENTS BY EMPLOYER 

  
 In exchange for the promises contained in paragraph seven below, HouseValues Inc. will provide Employee two month’s salary
($10,833.33), minus applicable withholdings. This will be paid to Employee after the Effective Date, as defined below. 
  
 Employee will continue to receive the medical and dental benefits that he has been receiving as an employee of HouseValues Inc. at HouseValues Inc.’s
expense through December 31, 2003. Thereafter, Employee will be eligible for continuation of his coverage under the terms and conditions of COBRA, at his own expense. 
  
 HouseValues Inc. agrees that it will not protest any unemployment benefits allowed to Employee, if Employee applies for such
benefits. 
  

	 	3.	VALID CONSIDERATION 

  
 Employee and HouseValues Inc. agree that the offer of severance pay by HouseValues Inc. to Employee described in the preceding paragraph is not required
by HouseValues Inc.’s policies or procedures or by any pre-existing contractual obligation of HouseValues Inc. or by any statute, regulation or ordinance, and is offered by HouseValues Inc. solely as consideration for this Agreement. In the
event Employee fails to abide by the terms of this Agreement, HouseValues Inc. may elect, at its option and without waiver of other rights or remedies it may have, not to pay or provide any unpaid severance payments, and to seek to recover
previously paid severance pay. 
  

	 	4.	STOCK OPTION 

  
 Employee will be entitled to exercise any portion of the stock option granted to his that is vested as of the Termination Date, subject to the terms of
the Company’s 1999 Stock Incentive Compensation Plan and letter agreement between the Company and Employee. Employee acknowledges and agrees that under the terms of the stock option granted to Employee, all of the vested portion of the stock
option granted to Employee will terminate if not exercised within 90 days of the Termination Date, and will be thereafter unexerciseable. It is Employee’s responsibility to be aware of the date that any vested, unexercised portion of the stock
option granted to him terminates 

  

 - 2 - 

 
and becomes unexerciseable. Employee further acknowledges and agrees that under the terms of the stock option granted to Employee, no shares will vest after
the Termination Date and all unvested shares will terminate as of the Termination Date. 
  

	 	5.	REAFFIRMATION OF CONFIDENTIAL INFORMATION, INVENTIONS, NONSOLICITATION AND NONCOMPETITION AGREEMENT 

  
 Employee expressly reaffirms and incorporates herein as part of this
Agreement the Confidential Information, Inventions, Nonsolicitation And Noncompetition Agreement, which Employee signed as part of his employment with HouseValues Inc., a copy of which was given to Employee, and which shall remain in full effect, as
amended pursuant to Exhibit C to this Agreement. 
  

	 	6.	CONFIDENTIALITY OF SEPARATION AGREEMENT 

  
 Employee agrees that he will keep the terms of this Agreement (including, but not limited to, the severance payment) completely confidential, and that
Employee will not disclose any information concerning this Agreement or its terms to anyone other than his spouse or domestic partner, legal counsel, tax advisors, and/or financial advisors, who will be informed of and bound by this confidentiality
clause, and except as required by court order. In the event Employee is requested, by court order or any other legal process, to provide information covered by this confidentiality obligation, Employee agrees to immediately notify HouseValues Inc.
of any such request. 
  

	 	7.	GENERAL RELEASE OF CLAIMS 

  
 Employee expressly waives any claims against HouseValues Inc. (including, for purposes of this paragraph 7, all parents, affiliates, subsidiaries,
officers, directors, stockholders, managers, employees, agents, investors, and representatives) and releases HouseValues Inc. (including its parents, affiliates, subsidiaries, officers, directors, stockholders, managers, employees, agents,
investors, and representatives) from any claims, whether known or unknown, which existed or may have existed at any time up to the date of this Agreement, including claims related in any way to Employee’s employment with HouseValues Inc. or the
ending of that relationship. This release includes, but is not limited to, any claims for wages, bonuses, employment benefits, stock options, or damages of any kind whatsoever, arising out of any common law torts, arising out of any contracts,
express or implied, any covenant of good faith and fair dealing, express or implied, any theory of wrongful discharge, any theory of negligence, any theory of retaliation, any theory of discrimination or harassment in any form, any legal restriction
on HouseValues Inc.’s right to terminate employees, or any federal, state, or other governmental statute, executive order, or ordinance, including, without limitation, Title VII of the Civil Rights Act of 1964 as amended, the Civil Rights Act
of 1991, the Civil Rights Act of 1866, 42 U.S.C. § 1981, the Americans with Disabilities Act, the Age Discrimination 

  

 - 3 - 

 
in Employment Act, the Older Workers Benefit Protection Act, the Family and Medical Leave Act, the Employee Retirement Income Security Act, the Washington
Law Against Discrimination, or any other legal limitation on or regulation of the employment relationship. Employee agrees to indemnify and hold HouseValues Inc. harmless from and against any and all loss, costs, damages, or expenses, including,
without limitation, reasonable attorneys’ fees incurred by HouseValues Inc. or arising out of any breach of this Agreement by Employee or resulting from any representation made herein by Employee that was false when made. This waiver and
release shall not preclude either party from filing a lawsuit for the exclusive purpose of enforcing its rights under this Agreement. 
  
 Employee represents that Employee has not filed any complaints, charges or lawsuits against HouseValues Inc. with any governmental agency or any court,
and agrees that Employee will not initiate, assist or encourage any such actions, except as required by law. Employee further agrees that if a commission, agency, or court assumes jurisdiction of such claim, complaint or charge against HouseValues
Inc. on behalf of Employee, Employee will request the commission, agency or court to withdraw from the matter. 
  
 Employee represents and warrants that he is the sole owner of the actual or alleged claims, rights, causes of action, and other matters which are released
herein, that the same have not been assigned, transferred, or disposed of in fact, by operation of law, or in any manner, and that he has the full right and power to grant, execute and deliver the releases, undertakings, and agreements contained
herein. 
  

	 	8.	NO ADMISSION OF WRONGDOING 

  
 This Agreement shall not be construed as an admission by Employer of any wrongful act, unlawful discrimination, or breach of contract, and Employer
specifically disclaims any liability to or discrimination against Employee or any other person. 
  

	 	9.	NONDISPARAGEMENT 

  
 Employee agrees to refrain from making any derogatory or disparaging comments to the press or any individual or entity regarding HouseValues Inc., its
business or related activities, or the relationship between the parties. 
  

	 	10.	RETURN OF PROPERTY 

  
 Employee confirms that Employee has or will immediately, upon the Termination Date, return to Employer all files, memoranda, records, credit cards,
pagers, computers, computer files, passwords and pass keys, card keys, or related physical or electronic access devices, and any and all other property received from 

  

 - 4 - 

 
Employer or any of its current or former employees or generated by Employee in the course of employment. 
  

	 	11.	BREACH OR DEFAULT 

  
 In the event of any breach or default under this Agreement by Employee, HouseValues Inc. may suffer irreparable damages and have no adequate remedy at
law. In the event of any threatened or actual breach or default, HouseValues Inc. shall be entitled to injunctive relief, specific performance and other equitable relief. The rights and remedies of HouseValues Inc. under this paragraph are in
addition to, and not in lieu of, any other right or remedy afforded to HouseValues Inc. under any other provision of this Agreement, by law, or otherwise. Any party’s failure to enforce this Agreement in the event of one or more events that
violate this Agreement shall not constitute a waiver of any right to enforce this Agreement against subsequent violations. 
  

	 	12.	SEVERABILITY 

  
 The provisions of this Agreement are severable, and if any part of it is found to be unlawful or unenforceable, the other provisions of this Agreement
shall remain fully valid and enforceable to the maximum extent consistent with applicable law. 
  

	 	13.	ENTIRE AGREEMENT 

  
 This Agreement, and the Confidential Information, Inventions, Nonsolicitation And Noncompetition Agreement employee signed that is incorporated herein by
reference, set forth the entire understanding between Employee and HouseValues Inc. and supersedes any prior agreements or understandings, express or implied, pertaining to the terms of Employee’s employment with HouseValues Inc. and the
employment relationship. Employee acknowledges that in executing this Agreement, Employee does not rely upon any representation or statement by any representative of HouseValues Inc. concerning the subject matter of this Agreement, except as
expressly set forth in the text of the Agreement. No modification or waiver of this Agreement will be effective unless evidenced in a writing signed by both parties. 
  

	 	14.	GOVERNING LAW 

  
 This Agreement will be governed by and construed exclusively in accordance with the laws of the State of Washington without reference to its choice of law
principles. Any disputes arising under this Agreement shall be brought in a court of competent jurisdiction in the State of Washington. 
  

 - 5 - 

	 	15.	KNOWING AND VOLUNTARY AGREEMENT 

  
 Employee agrees that Employee has carefully read and fully understands all aspects of this Agreement including the fact that this Agreement releases
any claims that Employee might have against Employer. Employee agrees that Employee has not relied upon any representations or statements not set forth herein or made by Employer’s agents or representatives. Finally, Employee agrees that
Employee has been advised to consult with an attorney prior to executing the Agreement, and that Employee has either done so or knowingly waived the right to do so, and now enters into this Agreement without duress or coercion from any source.

  

	 	16.	PERIODS FOR SIGNING AND REVOCATION 

  
 Employee acknowledges that he has been provided the opportunity to consider for twenty-one (21) days whether to enter this Agreement, and has
voluntarily chosen to enter the Agreement on this date. Employee may revoke this Agreement for a period of seven (7) days following the execution of this Agreement; this Agreement shall become effective following expiration of this seven (7) day
period (the “Effective Date”). 
  

	 	17.	LOAN AND EXTENSION OF NON-COMPETITION AND OTHER AGREEMENTS 

  
 In consideration of Employer’s agreement to lend money to Employee pursuant to, and upon the execution of, this Agreement, the Full Recourse
Promissory Note (attached hereto as Exhibit A) and the Pledge and Security Agreement (attached hereto as Exhibit B), and for other good and valuable consideration, Employee has agreed to extend the terms of certain non-solicitation, non-competiton
and other agreements with Employer from one year to four years as more fully set forth in the Amendment Agreement (attached hereto as Exhibit C). 
  

	 	18.	TERMINATION OF PRIOR SEPARATION AGREEMENT AND RELEASE. 

  
 Each party agrees that any Separation Agreement and Release signed prior to the date hereof shall be deemed superceded in its entirety by this Agreement
and such earlier agreement shall be of no force and effect. 
  

 - 6 - 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the dates indicated below. 

 

									
	HouseValues Inc.	 	 	 	 
					
	By:	 	/s/ John Zdanowski	 	 	 	 	 	/s/ Robert Schulze
	 	 	John Zdanowski	 	 	 	 	 	Robert Schulze
					
	 	 	Chief Financial Officer	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 Dated: March 23, 2004

	Dated: March 23, 2004	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

  

 - 7 - 

 EXHIBIT A 
  

FULL-RECOURSE PROMISSORY NOTE 
  

 - 8 - 

 EXHIBIT B 
  

PLEDGE AND SECURITY AGREEMENT 
  

 - 9 - 

 ATTACHMENT A 
  
 STOCK POWER AND ASSIGNMENT 
 SEPARATE FROM CERTIFICATE 
  
 FOR VALUE RECEIVED, and pursuant to that certain Pledge and Security Agreement dated as of March 23, 2004, the undersigned hereby sells, assigns and transfers unto
                                        
                 shares of the Common Stock of HouseValues, Inc., a Washington corporation, standing in the undersigned’s name on the books of said
corporation, and does hereby irrevocably constitute the Secretary of said corporation as attorney-in-fact, with full power of substitution, to transfer said stock on the books of said corporation. 
  

					
	 	 	 Dated: 3/23/04

			
	 	 	 Signature:
	 	 /s/ Robert Schulze

		
	 	 	 Robert Schulze

					
			
	 	 	 Spouse’s signature, if any:
	 	 

					
			
	 	 	 Please print name:
	 	 

  
 Please see Section 1 of the Pledge and
Security Agreement for information on completing this form 
  

 -10- 

 EXHIBIT C 
  

CONFIDENTIAL INFORMATION, INVENTIONS, 
 NONSOLICITATION AND NONCOMPETITION AMENDMENT 
 AGREEMENT 
  
 THIS AMENDMENT AGREEMENT is entered into by Robert Schulze (hereinafter referred to as “Employee”) and HouseValues
Inc., its parent, affiliates, subsidiaries, officers, directors, and managers (hereinafter referred to as “HouseValues Inc.” or “Employer”), and amends the Confidential Information, Inventions, Nonsolicitation And Noncompetition
Agreement (the “Confidential Information Agreement”), which Employee signed as part of his employment with HouseValues Inc., a copy of which was given to Employee, and which shall remain in full effect, except as expressly amended below.

  
 1. Certifications. Employee hereby certifies
that (i) I do not have in my possession, and I have not failed to return, any Materials or other property belonging to HouseValues Inc., (ii) I have complied with all the terms of the Confidential Information Agreement signed by me, including the
reporting of any Inventions conceived or made by me (solely or jointly with others) covered by that agreement, and (iii) I will not use, disclose, publish or distribute any Confidential Information, Inventions, Materials or Proprietary Rights.

  
 2. Amendment From One Year to Four Years of Certain
Terms. In consideration of Employer’s agreement to lend money to Employee pursuant to, and upon the execution of, a Separation Agreement and Release, Full Recourse Promissory Note and Pledge and Security Agreement, and for other good
and valuable consideration, Employee agrees (as does Employer) that the provisions set forth in Section 4 of the Confidential Information Agreement shall hereby be amended (a) to run for four years after the end of the Term (rather than the current
one year) and each place the words “one year” appear in Section 4 of the Confidential Information Agreement shall be deemed replaced by the words “four years,” and (b) to replace the current definition of “Competing
Business” with the following definition: 
  
 “Competing Business” means any business whose efforts are in competition with the efforts of the Company. A Competing Business includes, without limitation, (x) any business engaged in advertising or lead generation for a
services industry, including real estate or related services (like title, escrow, or mortgage services), 

  

 - 11 - 

 
insurance services, financial services, and/or legal services; and (y) any business whose efforts involve any research and development, products or services
in competition with products or services which are, during and at the end of the Term, either (a) produced, marketed or otherwise commercially exploited by the Company or (b) in actual or demonstrably anticipated research or development by the
Company. 
  
 In addition, if Employer extends its business to
engage in advertising or lead generation for a services industry involving real estate or related services (like title, escrow, or mortgage services), insurance services, financial services and/or legal services during the four year noncompetition
term referenced above. Employer and Employee agree to work together to reach mutually agreeable written terms that will, among other things, permit Employee to provide 25% of the television media buying services required by Employer in such
industries. 
  
 3. Written Approval of Employer. In
order to allow Employer to assess Employee’s compliance with the provisions of the Confidential Information Agreement, as amended hereby, Employee agrees (i) to provide Employer written notice prior to engaging in, being employed by, performing
services for, participating in the ownership, management, control or operation of, or otherwise being connected with, either directly or indirectly, any Competing Business, and (ii) to not engage in any activity contemplated in (i) above, unless and
until, Employer’s CEO has confirmed in writing that Employer believes such activities will not violate the Confidential Information Agreement, as amended hereby. 
  

			
	HOUSEVALUES, INC.
		
	By:	 	 /s/ John Zdanowski

	 Name:
	 	 John Zdanowski

	 Title:
	 	 Chief Financial Officer

	
	 /s/ Robert Schulze

	 Signature

	
	 Robert Schulze

  

 -12-Pledge and Security Agreement

 Exhibit 10.6 
  
 PLEDGE AND SECURITY AGREEMENT 
  

This Pledge and Security Agreement (this “Pledge Agreement”) is entered into March 23, 2004 by and between HouseValues, Inc., a Washington
corporation (the “Company”), and Robert Schulze (“Purchaser”). 
  
 RECITALS 
  
 In
connection with Purchaser’s exercise of options to purchase shares of the Company’s Common Stock (the “Shares”) pursuant to an Incentive Stock Option Agreement dated February 15, 2001, as amended, between Purchaser and the
Company and an Incentive Stock Option Agreement dated April 12, 2001, between Purchaser and the Company, Purchaser is also delivering a promissory note (the “Note”) in full payment of the exercise price for the Shares. The Company requires
that the Note be secured by a pledge of the Shares on the terms set forth below. 
  
 AGREEMENT 
  
 In
consideration of the Company’s acceptance of the Note as full payment of the exercise price of the Shares, and for other good and valuable consideration, the receipt of which is hereby acknowledged, the parties hereto agree as follows:

  
 1. Delivery of Shares. Purchaser shall deliver to the
Secretary of the Company, or his or her designee (hereinafter referred to as the “Pledge Holder”), all certificates representing the Shares, together with an Assignment Separate From Certificate in the form attached to this Pledge
Agreement as Attachment A executed by Purchaser and by Purchaser’s spouse (if required for transfer), in blank, for use in transferring all or a portion of the Shares to the Company if, as and when required pursuant to this Pledge Agreement. In
addition, if Purchaser is married, Purchaser’s spouse shall execute this Pledge Agreement where indicated. 
  
 2. Grant of Security Interest. As security for the payment of the Note and any renewal, extension or modification of the Note, Purchaser hereby grants to
the Company a security interest in, and pledges to the Company, (a) the Shares; (b) any new, additional or different securities or other property subsequently distributed with respect to the Shares that are to be delivered to and deposited with the
Company pursuant to the requirements of this Pledge Agreement; (c) any and all other property and money that is delivered to or comes into the possession of the Company pursuant to the terms and provisions of this Pledge Agreement; and (d) the
proceeds of any sale, exchange or disposition of the property and securities described in this Paragraph 2 (sometimes referred to herein collectively as the “Collateral”). 
  

 1 

 3. Warranties. Purchaser hereby warrants that Purchaser is the owner of the Collateral and has the right
to pledge the Collateral and that the Collateral is free from all liens, claims, encumbrances and other security interests (other than those created hereby). Purchaser further represents and warrants that he or she has net assets (not including the
Shares) in excess of the amount of the Note. Purchaser also represents and warrants that if the Pledge Agreement or any document executed in connection therewith is not also executed by a spouse, where indicated, that his is unmarried on such date.

  
 4. Effect of Prepayment on Collateral. In the event that
Purchaser prepays all or a portion of the Note, in accordance with the provisions thereof, Purchaser intends that the Shares represented by the portion of the Note so repaid shall continue to be so held by the Pledge Holder, to serve as independent
collateral for the outstanding portion of the Note. 
  
 5. Sale or
Repurchase of Shares. In the event of any foreclosure of the security interest created by this Pledge Agreement, the Company may sell the Shares at a private sale or may repurchase the Shares itself. The parties agree that, prior to the
establishment of a public market for the Shares of the Company, the securities laws affecting the sale of the Shares make a public sale of the Shares commercially unreasonable. The parties further agree that the repurchase of such Shares by the
Company, or by any person to whom the Company may have assigned its rights under this Pledge Agreement, is commercially reasonable if made at a price determined by the Company’s Board of Directors in its discretion, fairly exercised,
representing what would be the fair market value of the Shares reduced by any limitation on transferability, whether due to the size of the block of shares or the restrictions of applicable securities laws. 
  
 6. Rights Upon Default. In the event of default in payment when due of any
indebtedness under the Note, the Company may elect then, or at any time thereafter, to exercise all rights available to a secured party under the Washington Commercial Code, including the right to sell the Collateral at a private or public sale or
repurchase the Shares as provided above. The proceeds of any sale shall be applied in the following order: 
  
 (a) To the extent necessary, proceeds shall be used to pay all reasonable expenses of the Company in enforcing this Pledge Agreement and the Note,
including, without limitation, reasonable attorneys’ fees and legal expenses incurred by the Company. 
  
 (b) To the extent necessary, proceeds shall be used to satisfy any remaining indebtedness under the Note. 
  
 (c) Any remaining proceeds shall be delivered to Purchaser. 
  

 2 

 7. Release of Collateral. Promptly after full payment by Purchaser of all principal, accrued interest and
other amounts outstanding under the Note, Pledge Holder shall deliver to Purchaser all Shares in Pledge Holder’s possession belonging to Purchaser, and Pledge Holder shall thereupon be discharged of all further obligations under this Pledge
Agreement. 
  
 8. Duty to Deliver. Any new, additional or
different securities that may now or hereafter become distributable with respect to the Collateral by reason of (a) any stock dividend, stock split or reclassification of the capital stock of the Company or (b) any merger, consolidation or other
reorganization affecting the capital structure of the Company shall be promptly delivered to and deposited with the Company as part of the Collateral hereunder. Such securities shall be accompanied by one or more stock power assignments executed by
Purchaser and by Purchaser’s spouse (if required for transfer), in blank. 
  
 9. Payment of Taxes and Other Charges. Purchaser shall pay, prior to the delinquency date, all taxes, liens, assessments and other charges against the Collateral, and in the event of the Purchaser’s failure to do
so, the Company may at its election pay any or all of such taxes and charges without contesting the validity or legality thereof. Any payments so made by the Company shall become part of the indebtedness secured hereunder and until paid shall bear
interest at the minimum per annum rate, compounded annually, required to avoid the imputation of interest income to the Company and compensation income to Purchaser under the federal tax laws. 
  
 10. Transfer of Collateral. In connection with the transfer or assignment of
the Note (whether by negotiation, discount or otherwise), the Company may transfer all or any part of the Collateral, and the transferee shall thereupon succeed to all the rights, powers and remedies granted the Company hereunder with respect to the
Collateral so transferred. Upon such transfer, the Company shall be fully discharged from all liability and responsibility for the transferred Collateral. 
  
 11. Costs and Expenses. All costs and expenses (including reasonable attorneys’ fees) incurred by the Company in the exercise or enforcement of any
right, power or remedy granted it under this Pledge Agreement shall become part of the indebtedness secured hereunder and shall constitute a personal liability of Purchaser payable immediately upon demand and bearing interest until paid at the
Company’s bank interest rate then being earned by the Company on its deposits. 
  
 12. Severability. Any provision of this Pledge Agreement that is deemed invalid or unenforceable shall be ineffective to the extent of such invalidity or unenforceability, without rendering invalid or unenforceable
the remaining provisions of this Pledge Agreement. 
  

 3 

 13. Waiver. No provision of this Pledge Agreement shall be deemed to have been waived unless such waiver
is in writing signed by the waiving party. No failure by any party to insist upon the strict performance of any provision of this Pledge Agreement, or to exercise any right or remedy consequent upon a breach thereof, shall constitute a waiver of any
such breach, of such provision or of any other provision. No waiver of any provision of this Pledge Agreement shall be deemed a waiver of any other provision of this Pledge Agreement or a waiver of such provision with respect to any subsequent
breach, unless expressly provided in writing. 
  
 14.
Counterparts. This Pledge Agreement may be executed in any number of counterparts, all of which when taken together shall constitute one agreement binding on all parties, notwithstanding that all parties are not signatories to the same counterpart.
This Pledge Agreement may be executed with signatures transmitted among the parties by facsimile, and no party shall deny the validity of a signature or this Pledge Agreement signed and transmitted by facsimile on the ground that a signature is
represented by facsimile rather than an original. 
  

 4 

 15. Further Assurances. Each party agrees, at the request of the other party, at any time and from time
to time after the date hereof, promptly to execute and deliver all such further documents, and promptly to take and forbear from all such action, as may be reasonably necessary or appropriate in order to more effectively confirm or carry out the
provisions of this Pledge Agreement. 
  
 The parties have executed
this Pledge Agreement as of the date first set forth above. 
  

			
	HOUSEVALUES, INC.
		
	 By:
	 	 /s/ John Zdanowski

	 Name:
	 	 John Zdanowski

	 Title:
	 	 Chief Financial Officer

  

			
	PURCHASER
	
	 /s/ Robert Schulze

	 Signature

	
	 Robert Schulze

	
	PURCHASER’S SPOUSE
	
	 
	 Signature

	 Printed Name:
	 	 

  

 5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00081-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00081-of-00352.parquet"}]]