Document:

Release Agreement between the Registrant and Michael G. Andrews

 Exhibit 10.9 
  
 RELEASE AGREEMENT 
  
 THIS RELEASE AGREEMENT (the “Agreement”) is entered into by Michael G. Andrews (hereinafter referred to as “Employee”) and
HouseValues, its parent, affiliates, subsidiaries, officers, directors, and managers (hereinafter referred to as “HouseValues” or “Employer”). 
  
 RECITALS 
  
 A. Employee has been employed by HouseValues as Vice President of Sales, and Employee wishes to resign from his employment. 
  
 B. HouseValues wishes to offer Employee employment during a transition period
in exchange for the Employee’s agreement clarifying and resolving any disputes that may exist between the Employee and HouseValues 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. 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.	CONTINUED EMPLOYMENT 

  
 In exchange for the promises contained in Paragraph 5 below, Employee’s employment with HouseValues will continue pursuant to the terms of the
Transition Employment Agreement. 
  

	 	2.	VALID CONSIDERATION 

  
 Employee and HouseValues agree that the offer of continued employment during the transition period pursuant to the terms of the Transition Employment
Agreement is not required by HouseValues’ policies or procedures or by any pre-existing 

  

 
contractual obligation of HouseValues or by any statute, regulation or ordinance, and is offered by HouseValues solely as consideration for this Agreement.

  

	 	3.	REAFFIRMATI0N 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, a copy of which was given to Employee, and which shall remain in full effect.

  

	 	4.	CONFIDENTIALITY OF SEPARATION AGREEMENT 

  
 Employee agrees that he will keep the terms of this Agreement 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 of any such request. 
  

	 	5.	GENERAL RELEASE OF CLAIMS 

  
 Employee expressly waives any claims against HouseValues (including, for purposes of this Paragraph 5, all parents, affiliates, subsidiaries, officers,
directors, stockholders, managers, employees, agents, investors, and representatives) and releases HouseValues (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 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’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 

  

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with Disabilities 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 harmless from and against any and all loss, costs, damages, or expenses, including, without limitation, reasonable attorneys’
fees incurred by HouseValues or arising out of any breach of this Agreement by Employee or resulting from any representation made herein by Employee was false when made. This waiver and release shall not waive or release claims where the events in
dispute first arise after execution of this Agreement, nor shall it 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 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 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. 
  

	 	6.	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. 
  

	 	7.	NONDISPARAGEMENT 

  
 Employee agrees to refrain from making any derogatory or disparaging comments to the press or any individual or entity regarding HouseValues, its business
or related activities, or the relationship between the parties. 
  
 HouseValues’ officers, members of the Board of Directors, and Human Resources Director agree to refrain from making any derogatory or disparaging comments to the press or any individual or entity regarding Employee or the relationship
between the parties. 
  

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

	 	9.	BREACH OR DEFAULT 

  
 In the event of any breach or default under this Agreement by Employee, HouseValues may suffer irreparable damages and have no adequate remedy at law. In
the event of any threatened or actual breach or default, HouseValues shall be entitled to injunctive relief, specific performance and other equitable relief. The rights and remedies of HouseValues under this paragraph are in addition to, and not in
lieu of, any other right or remedy afforded to HouseValues 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. 
  

	 	10.	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. 
  

	 	11.	ENTIRE AGREEMENT 

  
 This Agreement, the Transition Employment 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 and supersedes any prior agreements or understandings, express or implied, pertaining to the terms of Employee’s employment
with HouseValues 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 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. 
  

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	 	12.	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. 
  

	 	13.	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.

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

							
	HouseValues	 	 	 	Employee
				
	By:	 	 /s/ Christine Thome
	 	 	 	 /s/ Michael G. Andrews

	 Christine Thome
	 	 	 	 Michael G. Andrews

			
	 HR Director
	 	 	 	 
	 	 	 	 	 	 	 Dated: 4 August 2003

	 Dated: 8/4/03
	 	 	 	 

  

 -5-Transition Employment Agreement

 Exhibit 10.10 
  
 TRANSITION EMPLOYMENT AGREEMENT 
  
 This Transition Employment Agreement (this “Agreement”), dated as
of 4 August 2003, between HouseValues, Inc. (“Employer”), and Michael G. Andrews (“Employee”); 
  
 RECITALS 
  
 A. Employee has been employed by HouseValues as Vice President of Sales and Employee wishes to resign from his employment. 
  
 B. HouseValues wishes to continue to employ Employee during a transition period through September 30, 2003 (“Transition Period”) upon the terms
and conditions set forth herein; and 
  
 C. Employee is willing to
provide services to Employer upon the terms and conditions set forth herein; 
  
 AGREEMENTS 
  
 NOW,
THEREFORE, for and in consideration of the foregoing premises and for other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, Employer and Employee hereby agree as follows: 
  

	1.	EMPLOYMENT 

  
 Employer will continue to employ Employee and Employee will accept continued employment with Employer as its Vice President of Sales. Employee will
perform the following duties: 
  
 (a) Provide Ian Morris, Chief
Executive Officer (“HouseValues CEO”) with the following detailed sales plans recommendations during the month of August: 
  

	 	(1)	Buyers Assistant Upsell Plan to HouseValues subscribers; 

  

	 	(2)	Market Leader Sales Plan; and 

  

	 	(3)	Buyer Lead Sales Plan. 

  
 Such plans will address at a minimum hiring/staffing, training, technology/marketing/other organizational requirements, financial analysis, and sales process. 
  
 (b) Complete the performance evaluation for Maureen Ezekwugo. 
  

					
	 EMPLOYMENT AGREEMENT
	 	 	 	 
	 	 	 	 	 

 (c) Provide counsel and support to HouseValues CEO on other projects as requested. 
  
 (d) Be supportive of HouseValues and its initiatives to any and all people,
including but not limited to employees and vendors, in all interactions and as requested by HouseValues CEO. 
  
 If at any point during the Transition Period, HouseValues prefers that Employee absent himself from the workplace for the remainder of the Transition
Period, Employee will continue to maintain his telephone extension and voicemail access. Phone calls received by the HouseValues receptionist will be forwarded in a timely manner to Employee. In addition, Employee will maintain his email ID and
remote access to the HouseValues email system (MS Outlook) for the remainder of the Transition Period. Employee may not have access to the remainder of the HouseValue’s system. 
  

	2.	ATTENTION AND EFFORT 

  
 Employee will be provided the time necessary to identify and interview for subsequent full time employment. 
  

	3.	TERM 

  
 Unless otherwise terminated pursuant to paragraph 8 of this Agreement, Employee’s term of employment under this Agreement shall expire on September 30, 2003. 
  

	4.	COMPENSATION 

  
 During the term of this Agreement, Employer agrees to pay or cause to be paid to Employee, and Employee agrees to accept in exchange for the services
rendered hereunder by him, the following compensation: 
  
 Employee will receive his current rate of base pay through September 30, 2003 unless: (1) Employee accepts full time employment elsewhere, in which case he will be paid up to the start date of subsequent full time employment; or (2)
Employee fails to perform the duties provided in Paragraph 1 of this Agreement. 
  

	5.	BONUS AND STOCK OPTIONS 

  
 Employee will not be eligible to receive any bonus pay. Employee’s stock options will expire. 
  

					
	 EMPLOYMENT AGREEMENT
	 	 	 	 
	 	 	-2-	 	 

	6.	BENEFITS 

  
 During the term of this Agreement, Employee will be entitled to participate, subject to and in accordance with applicable eligibility requirements, in
fringe benefit programs to the same extent that he currently is entitled to participate in such programs. Employee will be eligible to participate in Cobra benefits at employee’s expense. 
  

	7.	REFERENCE INQUIRIES 

  
 Employee will be provided with a favorable letter of recommendation, to be mutually agreed upon between Employee and Ian Morris, Chief Executive Officer
of HouseValues. Employee agrees to have all reference inquiries directed to Ian Morris, Chief Executive Officer of HouseValues. Employer agrees that Ian Morris, Chief Executive Officer of HouseValues, will respond to all verbal inquiries to
HouseValues regarding Employee in a manner consistent with the letter of recommendation. If Ian Morris is not available, verbal inquiries may be addressed by the Human Resources Director. 
  

	8.	TERMINATION 

  
 Employment of Employee pursuant to this Agreement may be terminated as follows: 
  

	 	8.1.	By Employer 

  
 Employer may terminate the employment of Employee at any time during the term of employment upon giving Notice to Employee if Employee fails to perform
the duties provided in Paragraph 1 of this Agreement or otherwise breaches this Agreement. 
  

	 	8.2.	By Employee 

  
 Employee may terminate his employment at any time to accept full time employment elsewhere upon giving Notice to Employer. 
  

	 	8.3.	Notice 

  
 All notices given hereunder shall be given in writing, shall specifically refer to this Agreement and shall be personally delivered or sent by facsimile
or other electronic transmission Michael G. Andrews if to Employee and to Christine Thome, HouseValues HR Director, if to Employer. Notice shall be effective upon receipt. 
  

					
	 EMPLOYMENT AGREEMENT
	 	 	 	 
	 	 	-3-	 	 

	9.	RETURN OF MATERIALS 

  
 Upon the termination of his employment with Employer or the expiration of this Agreement, Employee will return to HouseValues all files, property, or
other documents, physical or personal property, or materials of whatever nature that he has received from HouseValues 
  

	10.	CONFIDENTIALITY 

  
 Employee agrees that he will keep the terms of this Agreement and negotiations related to this Agreement 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 of any such
request. 
  

	11.	NONDISPARAGEMENT 

  
 Employee agrees to refrain from making any derogatory or disparaging statements, written or verbal, regarding HouseValues, its business or related
activities, or the relationship between the parties. 
  
 HouseValues’ officers, members of the Board of Directors, and Human Resources Director agree to refrain from making any derogatory or disparaging comments to the press or any individual or entity regarding Employee or the relationship
between the parties. 
  

	12.	WAIVERS 

  
 No delay or failure by any party hereto in exercising, protecting or enforcing any of its rights, titles, interests or remedies hereunder, and no course
of dealing or performance with respect thereto, shall constitute a waiver thereof. The express waiver by a party hereto of any right, title, interest or remedy in a particular instance or circumstance shall not constitute a waiver thereof in any
other instance or circumstance. All rights and remedies shall be cumulative and not exclusive of any other rights or remedies. 
  

					
	 EMPLOYMENT AGREEMENT
	 	 	 	 
	 	 	-4-	 	 

	13.	AMENDMENTS IN WRITING 

  
 No amendment, modification, waiver, termination or discharge of any provision of this Agreement, nor consent to any departure therefrom by either party
hereto, shall in any event be effective unless the same shall be in writing, specifically identifying this Agreement and the provision intended to be amended, modified, waived, terminated or discharged and signed by Employer and Employee, and each
such amendment, modification, waiver, termination or discharge shall be effective only in the specific instance and for the specific purpose for which given. No provision of this Agreement shall be varied, contradicted or explained by any oral
agreement, course of dealing or performance or any other matter not set forth in an agreement in writing and signed by Employer and Employee. 
  

	14.	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. 
  

	15.	APPLICABLE LAW 

  
 This Agreement shall in all respects, including all matters of construction, validity and performance, be governed by, and construed and enforced in
accordance with, the laws of the state of Washington, without regard to any rules governing conflicts of laws. 
  

	16.	HEADINGS 

  
 All headings used herein are for convenience only and shall not in any way affect the construction of, or be taken into consideration in interpreting,
this Agreement. 
  

	17.	ENTIRE AGREEMENT 

  
 This Agreement and the Release Agreement that employee signed that is incorporated herein by reference, on and as of the date hereof constitutes the
entire agreement between Employer and Employee with respect to the subject matter hereof and all prior or contemporaneous oral or written communications, understandings or agreements between Employer and Employee with respect to such subject matter
are hereby superseded and nullified in their entireties. 
  

					
	 EMPLOYMENT AGREEMENT
	 	 	 	 
	 	 	-5-	 	 

 IN WITNESS WHEREOF, the parties have executed and entered into this Agreement on the date set forth
above. 
  

									
	HouseValues	 	 	 	Employee
				
	By:	 	 /s/ Christine Thome
	 	 	 	 /s/ Michael G. Andrews

	 	 	 Christine Thome
	 	 	 	 Michael G. Andrews

			
	 HR Director
	 	 	 	 
	 	 	 	 	Dated: 4 August 2003
	Dated: 8/4/03	 	 	 	 

  

					
	 EMPLOYMENT AGREEMENT
	 	 	 	 
	 	 	-6-

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