Document:

<PAGE>   1
                                                                   Exhibit 10.12

                    Schedule to Form of Common Stock Warrant

Documents Omitted
<TABLE>
<CAPTION>

                  Holder                                               Number of Shares
                  ------                                               ----------------
<S>                                                                       <C>
1.       Hovde Financial Institution Partners II, L.P.                     7,200 shares
2.       Hovde Investment Corp., L.L.C.                                    4,800 shares
3.       Norman Garrity                                                   12,000 shares
4.       William N. Schiebler                                              6,000 shares
5.       Barbara A. and Peter A. Georgescu                                 6,000 shares
6.       John B. Prince                                                    3,600 shares
7.       John B. Prince, ACF Courtney Prince U/UT/UTMA                     1,200 shares
8.       John B. Prince, ACF Matthew B. Prince U/UT/UTMA                   1,200 shares
</TABLE>
<PAGE>   2
THE SECURITIES EVIDENCED BY THIS CERTIFICATE HAVE BEEN TAKEN FOR INVESTMENT,
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY
NOT BE SOLD, TRANSFERRED, ASSIGNED, PLEDGED, HYPOTHECATED OR OTHERWISE DISPOSED
OF IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION THEREFROM UNDER SAID ACT.

No. CSW-[______]                            Right to Purchase Shares of Common
                                                     Stock of LendingTree, Inc.

July 13, 1999 ("Issue Date")

                                LENDINGTREE, INC.

                              Common Stock Warrant

         LendingTree, Inc., a Delaware corporation, hereby certifies that, for
value received _________________ ("Holder"), is entitled, subject to the terms
set forth below, to purchase from the Company at any time or from time to time
before 5:00 P.M., Eastern Time, five years from the Issue Date, or such earlier
time as may be specified in Section 17 hereof, shares of fully paid and
nonassessable shares of Common Stock (as defined below).

         As used herein, the terms set forth below, unless the context otherwise
requires, have the following respective meanings:

                  (a)      "Company" shall mean and include LendingTree, Inc.
                           and any corporation that may succeed or assume the
                           obligations of the Company hereunder.

                  (b)      "Common Stock" shall mean the Company's common stock,
                           $.0l par value per share.

                  (c)      "Purchase Price" shall mean $10.00 per share.

                  (d)      "Warrant" shall mean this Warrant and any and all
                           additional Warrants to be issued by the Company to
                           the holder or its assigns, as approved by the Company
                           pursuant to the terms and conditions set forth in
                           Section 13 hereof.
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                  (e)      "Warrant Shares" shall mean the shares of Common
                           Stock that are to be issued to the holder of this
                           Warrant upon such holder's exercise of this Warrant.

         1. Exercise of Warrant.

                  1.1 Full Exercise. This Warrant may be exercised in full by
the holder hereof by surrender of this Warrant, with the form of subscription
attached hereto, duly executed by such holder, to the Company at its principal
office, accompanied by payment, in cash or by certified or official bank check
payable to the order of the Company, in the amount obtained by multiplying the
number of shares of Common Stock for which this Warrant is exercisable by the
Purchase Price.

                  1.2 Partial Exercise. This Warrant may be exercised in part by
surrender of the Warrant in the manner and at the place provided in subsection
1.1 except that the amount payable by the holder on such partial exercise shall
be the amount obtained by multiplying (a) the number of shares of Common Stock
designated by the holder in the subscription attached hereto hereof by (b) the
Purchase Price. On any such partial exercise the Company, at its expense, will
forthwith issue and deliver to or upon the order of the holder hereof a new
Warrant or Warrants of like tenor, in the name of the holder hereof or as such
holder (upon payment by such holder of any applicable transfer taxes) may
request, calling in the aggregate on the face or faces thereof for the number of
shares of Common Stock for which such Warrant or Warrants may still be
exercised.

                  1.3 Right to Exercise Warrant for Common Stock. Net Issuance.

                  (a)      Notwithstanding any provisions herein to the
                           contrary, in lieu of exercising this Warrant for cash
                           in the manner set forth in Sections 1.1 and 1.2, the
                           Warrant holder may elect to exercise the Warrant
                           ("Warrant Right") for shares of Common Stock, the
                           aggregate value of which shares shall be equal to the
                           Purchase Price multiplied by [   ] (as each value may
                           be adjusted from time to time as described elsewhere
                           herein). The Warrant Right may be exercised by
                           delivery to the principal office of the Company
                           together with notice of the Warrant holder's
                           intention to exercise the Warrant Right, in which
                           event the Company shall issue to the holder a number
                           of

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                           shares of the Common Stock computed using the
                           following formula:

                                             X = Y(A-B)
                                             ----------
                                                  A

                  X =      The number of shares of Common Stock to be issued
                           to holder.

                  Y =      The number of shares of Common Stock purchasable
                           under this Warrant.

                  A =      The fair market value of one share of Common Stock
                           (at the date of such calculation).

                  B =      Purchase Price (as adjusted to the date of such
                           calculation).

                  (b)      For purposes of this Section 1.3, "fair market value"
                           per share of the Company's Common Stock shall be
                           determined by the Company's Board of Directors in
                           good faith; provided, however, that in the event the
                           Company makes an initial public offering of its
                           Common Stock, the fair market value per share shall
                           be the closing price per share to the public on the
                           exchange upon which the Company's Common Stock is
                           listed, as reported in The Wall Street Journal, on
                           the business day immediately preceding the day upon
                           which the holder exercises the Warrant.

                  1.4 Registration Rights.

                           Company acknowledges and agrees that all shares of
Common Stock purchased or acquired in connection with the exercise of this
Warrant or issued in respect of such shares of Common Stock, will be deemed to
be "Registrable Shares," as such term is defined in that certain Convertible
Promissory Note and Warrant Purchase Agreement dated July _, 1999, by and among
Holder, the Company and those certain other parties identified therein.

                  1.5 Company Acknowledgment. The Company will, at the time of
         the exercise of the Warrant, upon the request of the holder hereof,
         acknowledge in

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writing its continuing obligation to afford to such holder any rights to which
such holder shall continue to be entitled after such exercise in accordance with
the provisions of this Warrant. If the holder shall fail to make any such
request, such failure shall not affect the continuing obligation of the Company
to afford to such holder any such rights.

         2. Delivery of Stock Certificates on Exercise. As soon as practicable
after the exercise of this Warrant in full or in part, and in any event within
15 days thereafter, the Company, at its expense (including the payment by it of
any applicable issue taxes), will cause to be issued in the name of and
delivered to the holder hereof, or as such holder (upon payment by such holder
of any applicable transfer taxes) may direct, a certificate or certificates for
the number of fully paid and nonassessable shares of Common Stock to which such
holder shall be entitled on such exercise, plus, in lieu of any fractional share
to which such holder would otherwise be entitled, cash equal to such fraction
multiplied by the Purchase Price of one full share, together with any other
stock or other securities and property (including cash, where applicable) to
which such holder is entitled upon such exercise pursuant to Section 1 or
otherwise.

         3. Adjustment for Dividends in Other Stock, Property, Reclassification.
In case at any time or from time to time, the holders of Common Stock shall have
received, or (on or after the record date fixed for the determination of
shareholders eligible to receive) shall have become entitled to receive, without
payment therefor,

                  (a)      other or additional stock or other securities or
                           property (other than cash) by way of dividend,

                  (b)      any cash (excluding cash dividends payable solely out
                           of earnings or earned surplus of the Company), or

                  (c)      other or additional stock or other securities or
                           property (including cash) by way of spin-off,
                           split-up, reclassification, recapitalization,
                           combination of shares or similar corporate
                           rearrangement,

other than additional shares of Common Stock issued as a stock dividend or in a
stock-split (adjustments in respect of which are provided in Section 5), then
and in each such case the holder of this Warrant, on the exercise hereof as
provided in Section 1, shall be entitled to receive the amount of stock and
other securities and

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property (including cash in the cases referred to in subdivisions (b) and (c) of
this Section 3) that such holder would hold on the date of such exercise if on
the date hereof he had been the holder of record of the number of shares of
Common Stock called for on the face of this Warrant and had thereafter, during
the period from the date hereof to and including the date of such exercise,
retained such shares and all such other or additional stock and other securities
and property (including cash in the cases referred to in subdivisions (b) and
(c) of this section 3) receivable by him as aforesaid during such period, giving
effect to all adjustments called for during such period by Sections 4 and 5.

         4. Adjustment for Reorganization, Consolidation, Merger.

                  4.1 General. In case at any time or from time to time, the
Company shall (a) effect a reorganization, (b) consolidate with or merge into
any other person, or (c) transfer all or substantially all of its properties or
assets to any other person under any plan or arrangement contemplating the
dissolution of the Company, then, in each such case, except as otherwise
provided in Section 4.3 hereof, the holder of this Warrant, on the exercise
hereof as provided in Section 1 at any time after the consummation of such
reorganization, consolidation or merger or the effective date of such
dissolution, as the case may be, shall receive, in lieu of the Common Stock
issuable on such exercise prior to such consummation or such effective date, the
stock and other securities and property (including cash) to which such holder
would have been entitled upon such consummation or in connection with such
dissolution, as the case may be, if such holder had so exercised this Warrant,
immediately prior thereto, all subject to further adjustment thereafter as
provided in Sections 3 and 5.

                  4.2 Dissolution. Except as otherwise provided in Section 4.3
hereof, in the event of any dissolution of the Company following the transfer of
all or substantially all of its properties or assets, the Company, prior to such
dissolution, shall at its expense deliver or cause to be delivered the stock and
other securities and property (including cash, where applicable) receivable by
the holder of the Warrant after the effective date of such dissolution pursuant
to this Section 4 to a bank or trust company, as trustee for the holder of the
Warrant.

                  4.3 Continuation of Terms. Except as otherwise hereinafter
provided, upon any reorganization, consolidation, merger or transfer (and any
dissolution following any transfer) referred to in this Section 4, this Warrant
shall continue in full force and effect and the terms hereof shall be applicable
to the shares

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of stock and other securities and property receivable on the exercise of this
Warrant after the consummation of such reorganization, consolidation or merger
or the effective date of dissolution following any such transfer, as the case
may be, and shall be binding upon the issuer of any such stock or other
securities, including, in the case of any such transfer, the person acquiring
all or substantially all of the properties or assets of the Company, regardless
of whether such person shall have expressly assumed the terms of this Warrant,
provided, however, that if the holder of Warrants exercisable into at least that
number of shares of Common Stock that represents a majority in interest of the
Common Stock issuable upon exercise of all the Warrants then issued and
outstanding, agree in writing to waive the terms of this Section 4, on and as of
the date of the consummation of such reorganization, consolidation or merger
effective date of dissolution, as the case may be, the rights of the holder of
this Warrant and the obligations of the Company under this Section 4 shall
terminate and the provisions of this Section 4 shall be of no further force and
effect.

         5. Adjustment for Extraordinary Events. In the event that the Company
shall (i) issue additional shares of the Common Stock as a dividend or other
distribution on outstanding Common Stock, (ii) subdivide its outstanding shares
of Common Stock, or (iii) combine its outstanding shares of the Common Stock
into a smaller number of shares of the Common Stock, then, in each such event,
the Purchase Price shall, simultaneously with the happening of such event, be
adjusted by multiplying the then Purchase Price by a fraction, the numerator of
which shall be the number of shares of Common Stock outstanding immediately
prior to such event and the denominator of which shall be the number of shares
of Common Stock outstanding immediately after such event, and the product so
obtained shall thereafter be the Purchase Price then in effect.

         The Purchase Price, as so adjusted, shall be readjusted in the same
manner upon the happening of any successive event or events described herein in
this Section 5. The holder of this Warrant shall thereafter, on the exercise
hereof as provided in Section 1, be entitled to receive that number of shares of
Common Stock determined by multiplying the number of shares of Common Stock
which would otherwise (but for the provisions of this Section 5) be issuable on
such exercise by a fraction of which (i) the numerator is the Purchase Price
which would otherwise (but for the provisions of this Section 5) be in effect,
and (ii) the denominator is the Purchase Price in effect on the date of such
exercise.

         6. Certificate as to Adjustments. In each case of any adjustment or
readjustment in the shares of Common Stock issuable on the exercise of the War-

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rants, the Company at its expense will promptly cause its treasurer or chief
financial officer to compute such adjustment or readjustment in accordance with
the terms of the Warrants and prepare a certificate setting forth such
adjustment or readjustment and showing in detail the facts upon which such
adjustment or readjustment is based, including a statement of (a) the
consideration received or receivable by the Company for any additional shares of
Common Stock issued or sold or deemed to have been issued or sold, (b) the
number of shares of Common Stock outstanding or deemed to be outstanding, and
(c) the Purchase Price and the number of shares of Common Stock to be received
upon exercise of this Warrant, in effect immediately prior to such issue or sale
and as adjusted and readjusted as provided in this Warrant. The Company will
forthwith mail a copy of each such certificate to each holder of a Warrant, and
will, on the written request at any time of any holder of a Warrant, furnish to
such holder a like certificate setting forth the Purchase Price at the time in
effect and showing how it was calculated.

         7. Notices of Record Date, etc. In the event of

                  (a)      any taking by the Company of a record of the holders
                           of any class or securities for the purpose of
                           determining the holders thereof who are entitled to
                           receive any dividend or other distribution, or any
                           right to subscribe for, purchase or otherwise acquire
                           any shares of stock of any class or any other
                           securities or property, or to receive any other
                           right, or

                  (b)      any capital reorganization of the Company, any
                           reclassification or recapitalization of the capital
                           stock of the Company or any transfer of all or
                           substantially all the assets of the Company to or
                           consolidation or merger of the Company with or into
                           any other person, or any voluntary or involuntary
                           dissolution, liquidation or winding-up of the
                           Company,

then and in each such event the Company will mail or cause to be mailed to each
holder of a Warrant a notice specifying (i) the date on which any such record is
to be taken for the purpose of such dividend, distribution or right, and stating
the amount and character of such dividend, distribution or right, (ii) the date
on which any such reorganization, reclassification, recapitalization, transfer,
consolidation, merger, dissolution, liquidation or winding-up is to take place,
and the time, if any is to be fixed, as of which the holders of record of Common
Stock (or Other Securities) shall be entitled to exchange their shares of Common
Stock (or Other Securities) for

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<PAGE>   9
securities or other property deliverable on such reorganization,
reclassification, recapitalization, transfer, consolidation, merger,
dissolution, liquidation or winding-up, and (iii) the amount and character of
any stock or other securities, or rights or options with respect thereto,
proposed to be issued or granted, the date of such proposed issue or grant and
the persons or class of persons to whom such proposed issue or grant is to be
offered or made. Such notice shall be mailed at least 20 days prior to the date
specified in such notice on which any such action is to be taken.

         8. Amendment. The terms of this Warrant may be amended, modified or
waived only with the written consent of the Company and the holders of Warrants
representing at least a majority of the number of shares of Common Stock then
issuable upon the exercise of the Warrants. No such amendment, modification or
waiver shall be effective as to this Warrant unless the terms of such amendment,
modification or waiver shall apply with the same force and effect to all of the
other Warrants then outstanding.

         9. Reservation of Stock Issuable on Exercise of Warrant. The Company
will at all times reserve and keep available, solely for issuance and delivery
on the exercise of the Warrant, all shares of Common Stock from time to time
issuable on the exercise of the Warrant.

         10. Exchange of Warrants. On surrender for exchange of any Warrant,
properly endorsed, to the Company, the Company at its expense will issue and
deliver to or on the order of the holder thereof a new Warrant or Warrants of
like tenor, in the name of such holder or as such holder (on payment by such
holder of any applicable transfer taxes) may direct, calling in the aggregate on
the face or faces thereof for the number of shares of Common Stock called for on
the face or faces of the Warrant or Warrants so surrendered.

         11. Replacement of Warrants. On receipt of evidence reasonably
satisfactory to the Company of the loss, theft, destruction or mutilation of any
Warrant and, in the case of any such loss, theft or destruction of any Warrant,
on delivery of an indemnity agreement or security reasonably satisfactory in
form and amount to the Company or, in the case of any such mutilation, on
surrender and cancellation of such Warrant, the Company at its expense will
execute and deliver, in lieu thereof, a new Warrant of like tenor.

         12. Warrant Agent. The Company may, by written notice to each holder of
a Warrant, appoint an agent for the purpose of issuing Common Stock (or Other

                                       8
<PAGE>   10
Securities) on the exercise of the Warrant pursuant to Section 1, exchanging
Warrants pursuant to Section 10, and replacing Warrants pursuant to Section 11,
or any of the foregoing, and thereafter any such issuance, exchange or
replacement, as the case may be, shall be made at such office by such agent.

         13. Negotiability, Company's Right of First Offer.

                  (a) This Warrant is issued upon the following terms, to all of
which each holder or owner hereof by the taking hereof consents and agrees:

                  (i)      title to this Warrant may only be transferred or
                           assigned with the written consent of the Company;

                  (ii)     any person in possession of this Warrant properly
                           endorsed, and for which consent of the Company is
                           evidenced in writing, is authorized to represent
                           himself as absolute owner hereof and is empowered to
                           transfer absolute title hereto by endorsement and
                           delivery hereof to a bona fide purchaser hereof for
                           value; each prior taker or owner waives and renounces
                           all of his equities or rights in this Warrant in
                           favor of each such bona fide purchaser, and each such
                           bona fide purchaser shall acquire absolute title
                           hereto and to all rights represented hereby; and

                  (iii)    until this Warrant is transferred on the books of the
                           Company, the Company may treat the registered holder
                           hereof as the absolute owner hereof for all purposes,
                           notwithstanding any notice to the contrary.

                  (b) Notwithstanding anything to the contrary contained in
subsection (a) above, at anytime prior to the exercise of this Warrant, if the
Holder shall seek to sell, transfer or otherwise assign this Warrant to a third
party making a bona fide offer for the purchase of this Warrant, the Company
shall have the absolute right, by delivery of written notice to the Holder, as
applicable to repurchase this Warrant or any portion hereof being offered for
sale on terms no less favorable to the Holder than those offered by such third
party.

                  (c) If the Company desires to repurchase this Warrant (or any
portion hereon being offered for sale, it shall communicate in writing (the
"Company Notice") its election to repurchase to the Holder, which communication
shall state

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<PAGE>   11
that the Company desires to purchase such portion of the Warrant as is being
offered for sale and shall be delivered in person or by facsimile to the Holder
within twenty (20) days of the date of receipt of notice from the Holder of
receipt of a bona fide offer (the "Holder's Offer Date"). If the Company
determines that it does not desire to purchase all or any portion of this
Warrant, it shall communicate this determination in writing to the Holder
within twenty (20) days of the Holder's Offer Date. The Company Notice, when
taken in conjunction with the offer made by the Holder selling Prior Investor or
the Purchaser, as applicable, shall be deemed to constitute a valid, legally
binding and enforceable agreement for the sale and purchase of the Warrant.
Sales of the Warrant to be sold to the Company pursuant to this Section 3 shall
be made at the offices of the Company no later than the 20th day following the
delivery of the Company Notice (or if such 20th day is not a business day, then
on the next succeeding business day). Such sales shall be effected by the Holder
by delivering to the Company of a certificate or certificates evidencing
ownership of the Warrant to be purchased by the Company, duly endorsed for
transfer to the Company, against payment to the Holder of the purchase price
therefor by the Company.

         14. Notices, etc. All notices and other communications from the Company
to the holder of this Warrant shall be mailed by first class registered or
certified mail, postage prepaid, at such address as may have been furnished to
the Company in writing by such holder or, until any such holder furnishes to the
Company an address, then to, and at the address of, the last holder of this
Warrant who has so furnished an address to the Company.

         15. Governing Law. This Warrant shall be governed by, and construed in
accordance with, the laws of the State of Delaware.

         16. Miscellaneous. This Warrant and any term hereof may be changed,
waived, discharged or terminated only by an instrument in writing signed by the
party against which enforcement of such change, waiver, discharge or termination
is sought. The headings in this Warrant are for purposes of reference only, and
shall not limit or otherwise affect any of the terms hereof. This Warrant is
being executed as an instrument under seal. The invalidity or unenforceability
of any provision hereof shall in no way affect the validity or enforceability of
any other provision.

         17. Expiration. The right to exercise this Warrant shall expire at 5:00
P.M., Eastern Time, on the earlier provision of (i) five years from the Issue
Date, or (ii) the effective date of the waiver exercised pursuant to Section 4.3
hereof

                                       10
<PAGE>   12
                                            LENDINGTREE, INC.

                                            By:
                                               --------------------------------
                                                     Mitchell N. York
                                                     President

                                       11
<PAGE>   13
                              FORM OF SUBSCRIPTION

                   (To be signed only on exercise of Warrant)

To: LendingTree, Inc.

         The undersigned, the holder of the within Warrant, hereby irrevocably
elects to exercise this Warrant for, and to purchase thereunder, ________ shares
of Common Stock of LendingTree, Inc. and herewith makes payment of $_______
therefor, and requests that the certificates for such shares be issued in the
name of, and delivered to ____________, whose address is:

_______________________________________________________________________________

_______________________________________________________________________________

Dated:
                                   ____________________________________________
                                   (Signature must conform to name of holder as
                                   specified on the face of the Warrant)

                                   ____________________________________________
                                    (Address)

                                       12
<PAGE>   14
                               FORM OF ASSIGNMENT
                   (To be signed only on transfer of Warrant)

         For value received, the undersigned hereby sells, assigns, and
transfers unto __________ the right represented by the within Warrant to
purchase __________ shares of Common Stock of LendingTree, Inc. to which the
within Warrant relates, and appoints ___________ Attorney to transfer such right
on the books of LendingTree, Inc. with full power of substitution in the
premises.

         The holder of this Warrant and any purchaser, assignee or transferee of
such holder acknowledge that no sale, assignment or transfer of this Warrant
will be valid without the express written approval of the Company.

Dated:
                                   ____________________________________________
                                   (Signature must conform to name of holder as
                                   specified on the face of the Warrant)

                                   ____________________________________________
                                    (Address)

Signed in the presence of:

___________________________

Name:______________________
          [Print Name]

                                       13<PAGE>   1
                                                                   Exhibit 10.13

                         COMMON STOCK WARRANT AGREEMENT

NEITHER THIS WARRANT NOR THE SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE
HEREOF HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. NO
SALE, TRANSFER OR OTHER DISPOSITION OF THIS WARRANT OR SAID SHARES MAY BE
EFFECTED WITHOUT (i) AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO, (ii)
AN OPINION OF COUNSEL FOR THE HOLDER THAT SUCH REGISTRATION IS NOT REQUIRED OR
(iii) RECEIPT OF A NO-ACTION LETTER FROM THE SECURITIES AND EXCHANGE COMMISSION
TO THE EFFECT THAT REGISTRATION UNDER THE ACT IS NOT REQUIRED.

         WHEREAS, the Company (as defined herein) Previously issued to ULLICO
(as defined herein) a Series A warrant agreement dated December 9, 1998, for the
purchase of 260,000 shares of the Company's Series A Convertible Preferred Stock
and a Series B Warrant Agreement dated March 4, 1999, for the purchase of 40,000
shares of the Company's Series B Convertible Preferred Stock (collectively, the
"Prior Warrants"); and

         WHEREAS, in connection with the sale and issuance by the Company of up
to $50,000,000 in Series D Convertible Preferred Stock, the Company and ULLICO
have agreed to cancel the Prior Warrants and issue this Warrant in replacement
thereof.

         NOW, THEREFORE, in consideration of the premises, promises and
covenants set forth herein and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows.

                                LENDINGTREE, INC.

                               WARRANT TO PURCHASE
                             SHARES OF COMMON STOCK

Number of Shares Issuable Upon Exercise: 300,000              September 20, 1999
No. CSW-13
<PAGE>   2
         THIS CERTIFIES THAT, for value received, The Union Labor Life Insurance
Company, Acting on Behalf of its Separate Account P ("ULLICO") (ULLICO and any
transferee of ULLICO a "Warrantholder") is entitled to subscribe for and
purchase 300,000 shares, as adjusted pursuant to the provisions hereof (the
"Shares") of the Common Stock, $0.01 par value per share, of LendingTree, Inc.,
a Delaware corporation (the "Company"), at a price per share of $6.00 (the
"Exercise Price"), subject to the provisions and upon the terms and conditions
hereinafter set forth (such right being referred to as the "Warrant").

1.       Term.

         1.1 Exercisability. This Warrant is immediately exercisable as to all
of the Shares. This Warrant may be exercised in whole or in part, but in no
event may any partial exercise be for fewer than 10,000 Shares.

         1.2 Termination and Expiration. If not earlier exercised, the Warrant
shall expire on the sixth anniversary of the date hereof (the "Expiration
Date").

         1.3 Exceptions. In the event that an unaffiliated third party acquires
the Company in a bona fide transaction (i.e., not a recapitalization,
reincorporation for the purpose of changing corporate domicile or other similar
transaction), regardless of the form of the transaction (e.g., merger,
consolidation, sale of assets or sale of stock) (the "Acquisition"), then (i) no
less than twenty (20) business days prior to the record date for determining the
stockholders of the Company entitled to vote on (or otherwise approve) the
Acquisition, the Company shall provide the Warrantholder with notice of such
Acquisition, and (ii) the Company shall provide the Warrantholder with all
information with respect to the Acquisition that is otherwise provided to
stockholders of the Company at such time and from time to time during the
pendency of the Acquisition, including (but not limited to) the proposed price
to be paid in the proposed Acquisition.

2.       Method of Exercise.

         2.1 Method of Exercise: Payment. This Warrant may be exercised by the
holder hereof, at any time, by delivery of the duly executed Notice of Exercise
form attached hereto as Exhibit A to the principal office of the Company and by
the payment to the Company, by cash, wire transfer, check or cancellation of
indebtedness, if any, of an amount equal to the Exercise Price per share
multiplied by the aggregate number of Shares that the Warrantholder is entitled
to purchase hereunder.

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<PAGE>   3
The person or persons in whose name(s) any certificate(s) representing Shares
shall be issuable upon exercise of this Warrant shall be deemed to have become
the holder(s) of record of, and shall be treated for all purposes as the record
holder(s) of, the Shares represented thereby (and such Shares shall be deemed to
have been issued) immediately prior to the close of business on the date or
dates upon which this Warrant is exercised. In the event of any exercise of this
Warrant, certificates for the Shares so purchased shall be delivered to the
holder hereof as soon as possible.

         2.2      Right to Exercise Warrant for Stock, Net Issuance.

         (a) Notwithstanding any provisions herein to the contrary, in lieu of
exercising this Warrant by paying the Exercise Price in the manner set forth in
Section 2. 1, prior to its expiration pursuant to Section 1.2, the Warrantholder
may, by providing notice thereof to the Company along with the Notice of
Exercise, elect to exercise the Warrants, in whole or in part, for a reduced
number of Shares deter mined in accordance with the following formula:

                                   X = Y(A-B)
                                       ------
                                        A

Where:

         X = The number of Shares to be issued to the Warrantholder.

         Y = The number of Shares as to which this Warrant is being exercised.

         A = The fair market value of one Share (at the date of such exercise).

         B = Exercise Price (as adjusted to the date of such exercise).

         (b) For purposes of this Section 2.2, the "fair market value" per Share
shall be determined in such reasonable manner as may be prescribed in good faith
by the Company's Board of Directors except as follows:

                  (i) in the event the Warrant is being exercised at the time
the Company is making a public offering of its Common Stock, the fair market
value per Share shall be the per share offering price to the public of the
Company's Common Stock in such public offering;

                                        3
<PAGE>   4
                  (ii) in the event the Warrant is being exercised at the time
the Company's Common Stock is listed on a national securities exchange or
admitted to unlisted trading privileges on any such exchange or listed for
trading on the NASDAQ National Market System, the fair market value per Share
shall be the last reported sale price of Common Stock on such exchange or system
on the last business day prior to the date of exercise of the Warrant (or if no
such sale is made on such day, the average of the closing bid and ask prices for
Common Stock for such day on such exchange or system); and

                  (iii) in the event the Warrant is being exercised at the time
of the consummation of an Acquisition, the fair market value per Share shall be
the consideration per share of Common Stock the holders thereof are to receive
in connection with such Acquisition.

         3. Stock Fully Paid; Reservation of Shares. All Shares that may be
issued upon the exercise of this Warrant shall, upon issuance, be validly
issued, fully paid and nonassessable, and free from all taxes, liens and charges
with respect to the issue thereof. During the period within which this Warrant
may be exercised, the Company will at all times have duly authorized and
reserved, for the purpose of issuance upon exercise of this Warrant, a
sufficient number of Shares.

         4. Adjustments to Conversion Price and Number of Shares. The number and
kind of securities purchasable upon the exercise of this Warrant and the
Exercise Price shall be subject to adjustment from time to time as set forth in
Appendix I hereto upon the occurrence of certain events described therein. The
provisions of Appendix I are incorporated by reference herein with the same
effect as if set forth in full herein.

         5. Fractional Shares. No fractional Shares will be issued in connection
with any exercise hereunder, but in lieu of such fractional Shares the Company
shall make a cash payment therefor based upon the per share fair market value
(determined in accordance with Section 2.2(b)) of the Shares on the date of
exercise.

         6. Compliance with Securities Act; Disposition of Warrant or Shares of
Common Stock.

         6.1 Compliance with Securities Act. The Warrantholder, by acceptance
hereof, agrees that this Warrant, the Shares to be issued upon exercise hereof
are being acquired for investment and that the Warrantholder will not offer,
sell or

                                        4
<PAGE>   5
otherwise dispose of this Warrant or any Shares to be issued upon exercise
hereof except under circumstances which will not result in a violation of the
Securities Act. All Shares issued upon exercise of this Warrant (unless
registered under the Securities Act) shall be stamped or imprinted with a
legend in substantially the following form:

         THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
         1933, AS AMENDED. NO SALE OR DISPOSITION MAY BE EFFECTED WITHOUT (i) AN
         EFFECTIVE REGISTRATION STATEMENT RELATED THERETO, (ii) AN OPINION OF
         COUNSEL FOR THE HOLDER THAT SUCH REGISTRATION IS NOT REQUIRED OR (iii)
         RECEIPT OF A NO-ACTION LETTER FROM THE SECURITIES AND EXCHANGE
         COMMISSION TO THE EFFECT THAT REGISTRATION UNDER THE ACT IS NOT
         REQUIRED.

         6.2 Disposition of Warrant and Shares. With respect to any offer, sale
or other disposition of any Shares acquired pursuant to the exercise of this
Warrant, the Warrantholder agrees to give written notice to the Company prior
thereto, describing briefly the manner thereof, together with a written opinion
of such Warrantholder's counsel, if reasonably requested by the Company, to the
effect that such offer, sale or other disposition may be effected without
registration or qualification (under the Securities Act as then in effect or any
federal or state law then in effect) of such Shares and indicating whether under
the Securities Act certificates for such Shares to be sold or otherwise disposed
of require any restrictive legend as to applicable restrictions on
transferability to insure compliance with the Securities Act. Each certificate
representing the Shares thus transferred (except a transfer pursuant to Rule
144) shall bear a legend as to the applicable restrictions on transferability in
order to insure compliance with the Securities Act unless, in the aforesaid
opinion of counsel for the Warrantholder, such legend is not required in order
to insure compliance with the Securities Act. The foregoing legends shall be
removed from the certificates representing any Shares, at the request of the
holder thereof, at such time as:

                  (i) they are to be sold pursuant to Rule 144 promulgated under
the Securities Act or

                  (ii) they become eligible for resale pursuant to Rule 144(k)
promulgated under the Securities Act

                                        5
<PAGE>   6
and the Company has been furnished with an opinion of counsel reasonably
satisfactory to the Company that such legends may be removed in connection with
such sales or eligibility for resale. Notwithstanding anything to the contrary
contained elsewhere in this Warrant Agreement, this Warrant may not be
transferred by the Warrantholder, whether to a partnership affiliated with the
initial Warrantholder or to any partner of such partnership, without compliance
by the Warrantholder with applicable federal and state securities laws. The
Company may issue stop transfer instructions to its transfer agent in connection
with the foregoing restrictions.

         7. Rights as Stockholders. Except as set forth herein, the
Warrantholder shall not be entitled to vote upon any matter submitted to
shareholders at any meeting thereof, or to receive notice of meetings, or be
deemed the holder of Common Stock until this Warrant shall have been exercised
and the Shares purchasable upon such exercise shall have become deliverable, as
provided herein.

         8. Modification and Waiver. This Warrant and any provision hereof may
be amended, changed, waived, discharged or terminated only by an instrument in
writing signed by the Company and Warrantholder.

         9. Notices. Any notice, request or other document required or permitted
to be given or delivered to the Warrantholder or the Company shall be delivered
or sent to the Warrantholder at its address as shown on the books of the Company
or to the Company at the address indicated on the signature page of this Warrant
and shall be deemed received by the holder upon the earlier of actual receipt
or, if sent by certified mail (postage pre-paid), five (5) days after deposit in
the U.S. mail.

         10. Binding Effect on Successors. This Warrant shall be binding upon
any corporation or other entity succeeding the Company and the Warrantholder by
merger, consolidation or acquisition of all or substantially all of the
Company's assets or stock. All of the obligations of the Company relating to the
Shares shall survive the exercise and termination of this Warrant. All of the
covenants and agreements of the Company shall inure to the benefit of the
successors and assigns of the holder hereof.

         11. Lost Warrant or Stock Certificates. The Company covenants to the
Warrantholder and any holder of shares of Common Stock received pursuant to the
exercise of this Warrant that upon receipt of evidence reasonably satisfactory
to the Company of the loss, theft, destruction, or mutilation of this Warrant or
any stock certificate issued upon exercise thereof and, in the case of any such
loss, theft or

                                        6
<PAGE>   7
destruction, upon receipt of an indemnity reasonably satisfactory to the
Company, or in the case of any such mutilation upon surrender and cancellation
of such Warrant or stock certificate, the Company shall make and deliver a new
Warrant or stock certificate, of like tenor, in lieu of the lost, stolen,
destroyed or mutilated Warrant or stock certificate.

         12. Descriptive Headings. The descriptive headings of the several
paragraphs of this Warrant are inserted for convenience only and do not
constitute a part of this Warrant.

         13. Recovery of Litigation Costs. If any legal action or other
proceeding is brought for the enforcement of this Warrant, or because of an
alleged dispute, breach, default or misrepresentation in connection with any of
the provisions of this Warrant, the successful or prevailing party or parties
shall be entitled to recover reasonable attorneys' fees and other costs incurred
in that action or proceeding, in addition to any other relief to which it or
they may be entitled.

         14. Governing Law. THIS WARRANT SHALL BE CONSTRUED AND ENFORCED IN
ACCORDANCE WITH, AND THE RIGHTS OF THE PARTIES SHALL BE GOVERNED BY, THE LAWS OF
THE STATE OF DELAWARE IRRESPECTIVE OF ANY CONFLICT OF LAWS PROVISION.

         15. Supersedes Prior Warrants. The terms and conditions set forth in
this Warrant supersede and replace in their entirety the terms and conditions
set forth in the Prior Warrants, and upon execution hereof, the Prior Warrants
shall be of no further force or effect.

                    [THIS SPACE IS INTENTIONALLY LEFT BLANK]

                                        7
<PAGE>   8
         IN WITNESS WHEREOF, the parties hereto have executed Common Stock
Warrant Agreement as of September __, 1999.

LENDING TREE, INC.

By:
   -----------------------------------------------
         Douglas R. Lebda, Chief Executive Officer
         Lending Tree, Inc.
         6701 Carmel Road
         Suite 205
         Charlotte, North Carolina  28226

AGREED AND ACCEPTED this          day of September, 1999.
                         --------

THE UNION LABOR LIFE INSURANCE COMPANY,
  ACTING ON BEHALF OF ITS SEPARATE ACCOUNT P

By:
   -----------------------------------------------
         Michael R. Steed, Senior Vice President
         The Union Labor Life Insurance Company

                                        8
<PAGE>   9
         IN WITNESS WHEREOF, the parties hereto have executed Common Stock
Warrant Agreement as of September 20, 1999.

LENDINGTREE, INC.

By:
   -----------------------------------------------
         Douglas R. Lebda, Chief Executive Officer
         LendingTree, Inc.
         6701 Carmel Road
         Suits 205
         Charlotte, North Carolina 28226

AGREED AND ACCEPTED this ____ day of September, 1999:

THE UNION LABOR LIFE INSURANCE COMPANY
         ACTING ON BEHALF OF ITS SEPARATE ACCOUNT P

By:
   -----------------------------------------------
         Michael R. Steed, Senior Vice President
         The Union Labor Life Insurance Company

                                        9
<PAGE>   10
                                    EXHIBIT A
                        TO COMMON STOCK WARRANT AGREEMENT

                               NOTICE OF EXERCISE

To:      LendingTree, Inc.

         1. The undersigned hereby elects to purchase shares of Common Stock of
the Company (as defined in the attached Warrant) pursuant to the terms of the
attached Warrant, and tenders herewith payment of the purchase price of such
shares in full.

         2. The undersigned wishes to utilize cashless exercise in payment of
the exercise price of the aforesaid shares and hereby authorizes the Company to
adjust the number of shares for which this Warrant may be exercised to properly
reflect such cashless exercise.

         [ ] Yes, for  _______ shares         [ ] No

         3. Please issue a certificate or certificates representing said shares
in the name of the undersigned or in such other name or names as are specified
below:

                                       [ ]

         4. The undersigned represents that the aforesaid shares are being
acquired for the account of the undersigned for investment and not with a view
to, or for resale in connection with, the distribution thereof and that the
undersigned has no present intention of distributing or reselling such shares,
except in accordance with the terms of the legend(s), if any, appearing on the
certificate or certificates representing said shares.

----------------------------------
(Date)
[        ]

                                       10
<PAGE>   11
                                   APPENDIX I
                        TO COMMON STOCK WARRANT AGREEMENT

         1. Capitalized Terms. Capitalized terms used in this Appendix I that
are not otherwise defined herein shall have the respective meanings assigned to
them in the Warrant Agreement, to which this Appendix I is attached, if therein
defined.

         2. Reclassification or Merger. In the event of any reclassification,
change or conversion of securities of the class issuable upon exercise of this
Warrant (other than a change in par value, or from par value to no par value, or
from no par value to par value, or as a result of a subdivision or combination),
the Warrantholder shall have the right upon exercise to receive, in lieu of each
Share theretofore issuable upon exercise of this Warrant, the kind and amount of
shares of stock, other securities, money and property receivable upon such
reclassification, change or conversion by a holder of one Share. The provisions
of this Section 2 shall similarly apply to successive reclassifications and
changes.

         3. Subdivision or Combination of Shares. If the Company at any time
while this Warrant remains outstanding and unexpired shall subdivide or combine
its Common Stock, the Exercise Price and the number of Shares issuable upon
exercise hereof shall be proportionately adjusted.

         4. Stock Dividends. If the Company at any time while this Warrant is
outstanding and unexpired shall pay a dividend on its Common Stock payable in
shares of Common Stock, then the Exercise Price shall be adjusted, from and
after the date of determination of shareholders entitled to receive such
dividend or distribution, to that price determined by multiplying the Exercise
Price in effect immediately prior to such date of determination by a fraction
(a) the numerator of which shall be the total number of shares of Common Stock
outstanding immediately prior to such dividend or distribution, and (b) the
denominator of which shall be the total number of shares of Common Stock
outstanding immediately after such dividend or distribution and the number of
Shares subject to this Warrant shall be proportionately adjusted.

         5. Other Distributions. Other than ordinary cash dividends or
distributions paid out of the Company's current earnings, which are specifically
excluded from the provisions of this Section 5, in the event the Company shall
declare a dividend or distribution on its Common Stock payable in cash,
securities of the

                                       11
<PAGE>   12
Company, securities of other persons, evidences of indebtedness issued by the
Company or other persons, assets or Warrants or rights not referred to in
Sections 3 or 4 of this Appendix I, then, in each such case, provision shall be
made by the Company such that the holder of this Warrant shall receive upon
exercise of this Warrant a proportionate share of any such dividend or
distribution as though it were the holder of the Shares as of the record date
fixed for the determination of the shareholders of the Company entitled to
receive such dividend or distribution.

                                                 12

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