Document:

Employee Matters Agreement

 Exhibit 10.3 
 EMPLOYEE MATTERS AGREEMENT 
 by and between 

EXPEDIA, INC. 
 and 
 TRIPADVISOR, INC. 

Dated as of December 20, 2011 

 TABLE OF CONTENTS 

 

									
	 	    	 	  	Page	 
			
	 ARTICLE I
	    	DEFINITIONS	  	 	1	  
			
	 ARTICLE II
	    	GENERAL PRINCIPLES	  	 	7	  
	 2.1
	    	Employment of TripAdvisor Employees	  	 	7	  
	 2.2
	    	Assumption and Retention of Liabilities; Related Assets	  	 	7	  
	 2.3
	    	TripAdvisor Participation in Expedia Benefit Plans	  	 	8	  
	 2.4
	    	Terms of Participation by TripAdvisor Employees in TripAdvisor Benefit Plans	  	 	8	  
	 2.5
	    	Commercially Reasonable Efforts	  	 	8	  
	 2.6
	    	Regulatory Compliance	  	 	8	  
	 2.7
	    	Approval by Expedia as Sole Stockholder	  	 	9	  
			
	 ARTICLE III
	    	SAVINGS PLANS	  	 	9	  
	 3.1
	    	Savings Plan	  	 	9	  
	 3.2
	    	Stock Considerations	  	 	9	  
			
	 ARTICLE IV
	    	HEALTH AND WELFARE PLANS	  	 	10	  
	 4.1
	    	U.S. Health and Welfare Plans	  	 	10	  
		    	 (a)
	    	Transition Period	  	 	10	  
		    	 (b)
	    	Establishment of TripAdvisor Health and Welfare Plans	  	 	10	  
		    	 (c)
	    	Flexible Benefit Plan	  	 	10	  
		    	 (d)
	    	COBRA and HIPAA Compliance	  	 	11	  
	 4.2
	    	Non-U.S. Health and Welfare Plans	  	 	11	  
	 4.3
	    	Retention of Sponsorship and Liabilities	  	 	11	  
	 4.4
	    	Vendor Contracts	  	 	12	  
		    	 (a)
	    	Third-Party ASO Contracts, Group Insurance Policies and HMOs	  	 	12	  
		    	 (b)
	    	Effect of Change in Rates	  	 	12	  
	 4.5
	    	Workers’ Compensation Liabilities	  	 	12	  
	 4.6
	    	Payroll Taxes and Reporting of Compensation	  	 	13	  
			
	 ARTICLE V
	    	EXECUTIVE BENEFITS AND OTHER BENEFITS	  	 	13	  
	 5.1
	    	Assumption of Obligations	  	 	13	  
	 5.2
	    	Expedia Incentive Plans	  	 	13	  
		    	(a)	    	TripAdvisor Bonus Awards	  	 	13	  
		    	(b)	    	Expedia Bonus Awards	  	 	13	  
	 5.3
	    	Expedia Long-Term Incentive Plan	  	 	14	  
		    	(a)	    	Vested Expedia Options	  	 	14	  
		    	(b)	    	 Unvested Expedia Options Held by Expedia Employees (other than Barry Diller) and Former Expedia Employees
	  	 	15	  

  
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		    	 (c)       
	  	 Unvested Expedia Options Held by TripAdvisor Employees (other than Barry Diller) and Former TripAdvisor
Employees
	  	 	15	  
		    	 (d)      
	  	 Unvested Expedia Options Held by Barry Diller
	  	 	16	  
		    	 (e)       
	  	 Expedia RSUs Held by Expedia Employees (other than Expedia RSUs Held by Barry Diller and other than the DK Performance-Based
Expedia RSUs) and Former Expedia Employees and Expedia RSUs Awarded in Respect of Service as an Expedia Director
	  	 	17	  
		    	 (f)       
	  	 Expedia RSUs Held by TripAdvisor Employees (other than Barry Diller) and Former TripAdvisor Employees
	  	 	17	  
		    	 (g)      
	  	 Expedia RSUs Held by Barry Diller
	  	 	18	  
		    	 (h)      
	  	 DK Performance-Based Expedia RSUs
	  	 	18	  
		    	 (i)       
	  	 Foreign Grants/Awards
	  	 	19	  
		    	 (j)       
	  	 Miscellaneous Option and Other RSU Terms
	  	 	19	  
		    	 (k)      
	  	 Waiting Period for Exercisability of Options and Grant of Options and RSUs
	  	 	20	  
		    	 (l)       
	  	 Equity Plan Administrator
	  	 	20	  
	 5.4
	    	Restrictive Covenants	  	 	20	  
	 5.5
	    	Employment Agreements	  	 	21	  
	 5.6
	    	Registration Requirements	  	 	21	  
	 5.7
	    	Expedia Executive DC Plan	  	 	21	  
	 5.8
	    	Severance	  	 	21	  
	 5.9
	    	Miscellaneous	  	 	22	  
			
	 ARTICLE VI
	    	GENERAL AND ADMINISTRATIVE	  	 	22	  
	 6.1
	    	Sharing of Participant Information	  	 	22	  
	 6.2
	    	Reasonable Efforts/Cooperation	  	 	22	  
	 6.3
	    	No Third-Party Beneficiaries	  	 	22	  
	 6.4
	    	Audit Rights With Respect to Information Provided	  	 	23	  
	 6.5
	    	Fiduciary Matters	  	 	23	  
	 6.6
	    	Consent of Third Parties	  	 	23	  
			
	 ARTICLE VII
	    	MISCELLANEOUS	  	 	24	  
	 7.1
	    	Effect If Effective Time Does Not Occur	  	 	24	  
	 7.2
	    	Relationship of Parties	  	 	24	  
	 7.3
	    	Affiliates	  	 	24	  
	 7.4
	    	Notices	  	 	24	  
	 7.5
	    	Incorporation of Separation Agreement Provisions	  	 	25	  

  
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 EMPLOYEE MATTERS AGREEMENT 

This Employee Matters Agreement (this “Agreement”), dated as of December 20, 2011, with effect as of the Effective
Time, is entered into by and between Expedia, Inc., a Delaware corporation (“Expedia”), and TripAdvisor, Inc., a Delaware corporation (“TripAdvisor,” and together with Expedia, the “Parties”).

 RECITALS: 
 WHEREAS, Expedia and TripAdvisor have entered into a Separation Agreement pursuant to which the Parties have set out the terms on which, and the conditions subject to which, they wish to implement the
Separation (as defined in the Separation Agreement) (such agreement, as amended, restated or modified from time to time, the “Separation Agreement”). 
 WHEREAS, in connection therewith, Expedia and TripAdvisor have agreed to enter into this Agreement to allocate between them assets, liabilities and responsibilities with respect to certain employee
compensation, pension and benefit plans, programs and arrangements and certain employment matters. 
 NOW THEREFORE, in
consideration of the mutual agreements, covenants and other provisions set forth in this Agreement, the Parties hereby agree as follows: 
 ARTICLE I 
 DEFINITIONS 

Unless otherwise defined in this Agreement, capitalized words and expressions and variations thereof used in this Agreement or in its
Appendices have the meanings set forth below. Capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Separation Agreement. 
 1.1 “Affiliate” has the meaning given that term in the Separation Agreement. 
 1.2 “Agreement” means this Employee Matters Agreement, including all the Schedules hereto. 
 1.3 “Ancillary Agreements” has the meaning given that term in the Separation Agreement. 
 1.4 “Approved Leave of Absence” means an absence from active service (a) due to an individual’s inability to perform his or her regular job duties by reason of illness or injury
and resulting in eligibility to receive benefits pursuant to the terms of the Expedia Short-Term Disability Plan or the Expedia Long-Term Disability Plan, or (b) pursuant to an approved leave policy with a guaranteed right of reinstatement.

 1.5 “ASO Contract” has the meaning set forth in Section 4.4(a). 

 1.6 “Auditing Party” has the meaning set forth in Section 6.4(a).

 1.7 “Benefit Plan” means, with respect to an entity or any of its Subsidiaries, (a) each “employee
welfare benefit plan” (as defined in Section 3(1) of ERISA) and all other employee benefits arrangements, policies or payroll practices (including, without limitation, severance pay, sick leave, vacation pay, salary continuation,
disability, retirement, deferred compensation, bonus, stock option or other equity-based compensation, hospitalization, medical insurance or life insurance) sponsored or maintained by such entity or by any of its Subsidiaries (or to which such
entity or any of its Subsidiaries contributes or is required to contribute) and (b) all “employee pension benefit plans” (as defined in Section 3(2) of ERISA), occupational pension plan or arrangement or other pension
arrangements sponsored, maintained or contributed to by such entity or any of its Subsidiaries (or to which such entity or any of its Subsidiaries contributes or is required to contribute). For the avoidance of doubt, “Benefit Plans”
includes Health and Welfare Plans and Executive Benefit Plans. When immediately preceded by “Expedia,” Benefit Plan means any Benefit Plan sponsored, maintained or contributed to by Expedia or an Expedia Entity or any Benefit Plan with
respect to which Expedia or an Expedia Entity is a party. When immediately preceded by “TripAdvisor,” Benefit Plan means any Benefit Plan sponsored, maintained or contributed to by TripAdvisor or any TripAdvisor Entity or any Benefit Plan
with respect to which TripAdvisor or a TripAdvisor Entity is a party. 
 1.8 “COBRA” means the continuation
coverage requirements for “group health plans” under Title X of the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended, and as codified in Code § 4980B and ERISA §§ 601 through 608. 

1.9 “Code” means the Internal Revenue Code of 1986, as amended, or any successor federal income tax law. Reference to a
specific Code provision also includes any proposed, temporary or final regulation in force under that provision. 
 1.10
“Committee” has the meaning set forth in Section 5.3(a). 
 1.11 “DK Performance-Based Expedia
RSUs” means the 800,000 Expedia RSUs granted to Dara Khosrowshahi on March 7, 2006. 
 1.12 “Effective
Date” has the meaning given that term in the Separation Agreement. 
 1.13 “Effective Time” has the
meaning given that term in the Separation Agreement. 
 1.14 “ERISA” means the Employee Retirement Income
Security Act of 1974, as amended. Reference to a specific provision of ERISA also includes any proposed, temporary or final regulation in force under that provision. 
 1.15 “Expedia” has the meaning set forth in the preamble to this Agreement. 
 1.16 “Expedia Allocation Factor” means the quotient obtained by dividing the Expedia Post-Separation Stock Value by the sum of the Expedia Post-Separation Stock Value and the TripAdvisor
Stock Value. 

  
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 1.17 “Expedia Common Stock” means, with respect to periods prior to the
Separation, shares of common stock, $0.001 par value per share, of Expedia, and with respect to periods following the Separation, shares of common stock, $0.0001 par value per share, of Expedia. 

1.18 “Expedia Director DC Plan” means the Expedia, Inc. Non-Employee Director Deferred Compensation Plan, in effect as
of the time relevant to the applicable provision of this Agreement. 
 1.19 “Expedia Employee” means any
individual who, immediately prior to the Effective Time, is either actively employed by, or then on Approved Leave of Absence from, any Expedia Entity. 
 1.20 “Expedia Entities” means the members of the Expedia Group, as defined in the Separation Agreement, and their respective Subsidiaries and Affiliates, excluding any business or
operations (whether current or historical, regardless of whether discontinued or sold) that are included in the Separated Businesses. 
 1.21 “Expedia Executive Benefit Plans” means the executive benefit and nonqualified plans, programs, agreements, and arrangements established, sponsored, maintained, or agreed upon, by
any Expedia Entity for the benefit of employees and former employees of any Expedia Entity before the Effective Time. For the avoidance of doubt, “Expedia Executive Benefit Plans” includes the Expedia Executive DC Plan. 

1.22 “Expedia Executive DC Plan” means the Expedia Executive Deferred Compensation Plan, in effect as of the time
relevant to the applicable provision of this Agreement. 
 1.23 “Expedia Flexible Benefit Plan” means the
flexible benefit plan maintained by Expedia as in effect as of the time relevant to the applicable provision of this Agreement. 

1.24 “Expedia Incentive Plans” means any of the annual or short term incentive plans of Expedia, all as in effect as of
the time relevant to the applicable provisions of this Agreement. 
 1.25 “Expedia Long-Term Incentive Plan”
means the Amended and Restated Expedia, Inc. 2005 Stock and Annual Incentive Plan. 
 1.26 “Expedia Post-Separation
Stock Value” means the closing per-share price of Expedia Common Stock in the “when issued market” on December 20, 2011, as listed on the NASDAQ as of 4:00 P.M. New York City time. 

1.27 “Expedia Ratio” means the quotient obtained by dividing the Expedia Stock Value by the Expedia Post-Separation
Stock Value. 
 1.28 “Expedia Retirement Savings Plan” means the Expedia, Inc. Retirement Savings Plan as in
effect as of the time relevant to the applicable provision of this Agreement. 

  
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 1.29 “Expedia Stock Value” means the closing per-share price of Expedia
Common Stock trading “regular way with due bills” on December 20, 2011, as listed on the NASDAQ as of 4:00 P.M., New York City time. 
 1.30 “Former Expedia Employee” means any individual who as of the Effective Time is a former employee of the Expedia Group or the TripAdvisor Group, and whose last employment with the
Expedia Group or TripAdvisor Group, was with an Expedia Entity. 
 1.31 “Former TripAdvisor Employee” means any
individual who as of the Effective Time is a former employee of the TripAdvisor Group or the Expedia Group, and whose last employment with the TripAdvisor Group or Expedia Group, was with a TripAdvisor Entity. 

1.32 “Former TripAdvisor Non-U.S. Employee” means any Former TripAdvisor Employee whose last employment was with a
TripAdvisor Entity located outside of the U.S. 
 1.33 “Former TripAdvisor U.S. Employee” means any Former
TripAdvisor Employee whose last employment was with a TripAdvisor Entity located in the U.S. 
 1.34 “Group Insurance
Policies” has the meaning set forth in Section 4.4(a). 
 1.35 “Health and Welfare Plans” means
any plan, fund or program which was established or is maintained for the purpose of providing for its participants or their beneficiaries, through the purchase of insurance or otherwise, medical (including PPO, EPO and HDHP coverages), dental,
prescription, vision, short-term disability, long-term disability, life and AD&D, employee assistance, group legal services, wellness, cafeteria (including premium payment, health flexible spending account and dependent care flexible spending
account components), travel reimbursement, transportation, or other benefits in the event of sickness, accident, disability, death or unemployment, or vacation benefits, apprenticeship or other training programs or day care centers, scholarship
funds, or prepaid legal services, including any such plan, fund or program as defined in Section 3(1) of ERISA. 
 1.36
“HIPAA” means the health insurance portability and accountability requirements for “group health plans” under the Health Insurance Portability and Accountability Act of 1996, as amended. 

1.37 “HMO” means a health maintenance organization that provides benefits under the Expedia Medical Plans or the
TripAdvisor Medical Plans. 
 1.38 “HMO Agreements” has the meaning set forth in Section 4.4(a).

 1.39 “H&W Transition Period” has the meaning set forth in Section 4.1(a). 

1.40 “H&W Transition Period Amount” has the meaning set forth in Section 4.1(a). 

1.41 “Immediately after the Effective Date” means on the first moment of the day after the Effective Date. 

  
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 1.42 “Liability” has the meaning given that term in the Separation
Agreement. 
 1.43 “Medical Plan” when immediately preceded by “Expedia,” means the Benefit Plan
under which medical benefits are provided to Expedia Employees established and maintained by Expedia. When immediately preceded by TripAdvisor, Medical Plan means the Benefit Plan under which medical benefits are provided to TripAdvisor Employees to
be established by TripAdvisor pursuant to Article IV. 
 1.44 “NASDAQ” means the National Association of
Securities Dealers Inc. Automated Quotation System. 
 1.45 “Non-parties” has the meaning set forth in
Section 6.4(b). 
 1.46 “Option” when immediately preceded by “Expedia” means an option (either
nonqualified or incentive) to purchase shares of Expedia Common Stock pursuant to the Expedia Long-Term Incentive Plan. When immediately preceded by “TripAdvisor,” Option means an option (either nonqualified or incentive) to purchase
shares of TripAdvisor Common Stock following the Effective Time pursuant to the TripAdvisor Long-Term Incentive Plan. 
 1.47
“Participating Company” means (a) Expedia and (b) any other Person (other than an individual) that participates in a plan sponsored by any Expedia Entity. 

1.48 “Parties” has the meaning set forth in the preamble to this Agreement. 

1.49 “Person” has the meaning given that term in the Separation Agreement. 

1.50 “RSU” (a) when immediately preceded by “Expedia,” means units issued under an Expedia Benefit Plan
representing a general unsecured promise by Expedia to pay the value of shares of Expedia Common Stock in cash or shares of Expedia Common Stock and, (b) when immediately preceded by “TripAdvisor,” means units issued under a
TripAdvisor Benefit Plan representing a general unsecured promise by TripAdvisor to pay the value of shares of TripAdvisor Common Stock in cash or shares of TripAdvisor Common Stock. 

1.51 “Reverse Stock Split” has the meaning given that term in the Separation Agreement. 

1.52 “Securities Act” has the meaning set forth in Section 5.6. 

1.53 “Separated Businesses” has the meaning given that term in the Separation Agreement. 

1.54 “Separation” has the meaning given that term in the Separation Agreement. 

1.55 “Separation Agreement” has the meaning set forth in the recitals to this Agreement. 

  
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 1.56 “Subsidiary” has the meaning given that term in the Separation
Agreement. 
 1.57 “Transition Services Agreement” means the Transition Services Agreement entered into as of
the date hereof between Expedia and TripAdvisor. 
 1.58 “TripAdvisor” has the meaning set forth in the
preamble to this Agreement. 
 1.59 “TripAdvisor Allocation Factor” means the quotient obtained by dividing the
TripAdvisor Stock Value by the sum of the Expedia Post-Separation Stock Value and the TripAdvisor Stock Value. 
 1.60
“TripAdvisor Common Stock” has the meaning given that term in the Separation Agreement. 
 1.61
“TripAdvisor Employee” means any individual who, immediately prior to the Effective Time, is either actively employed by, or then on Approved Leave of Absence from, a TripAdvisor Entity. 

1.62 “TripAdvisor Entities” means the TripAdvisor Group as defined in the Separation Agreement and any business or
operations (whether current or historical regardless of whether discontinued or sold) included in the Separated Businesses. 

1.63 “TripAdvisor Executive Benefit Plans” means the executive benefit and nonqualified plans, programs, and
arrangements established, sponsored, maintained, or agreed upon, by any TripAdvisor Entity for the benefit of employees and former employees of any TripAdvisor Entity before the Effective Time. 

1.64 “TripAdvisor Flexible Benefit Plan” means the flexible benefit plan to be established by TripAdvisor pursuant to
Section 4.1(c) of this Agreement as in effect as of the time relevant to the applicable provision of this Agreement. 

1.65 “TripAdvisor Long-Term Incentive Plan” means the long-term incentive plan or program to be established by
TripAdvisor, effective immediately prior to the Effective Date, in connection with the treatment of Options and RSUs as described in Article V. 
 1.66 “TripAdvisor Non-U.S. Employee” means a TripAdvisor Employee whose principal place of employment or engagement is outside the U.S. 

1.67 “TripAdvisor Ratio” means the quotient obtained by dividing the Expedia Stock Value by the TripAdvisor Stock Value.

 1.68 “TripAdvisor Retirement Savings Plan” means the 401(k) and profit sharing plan established by
TripAdvisor, as in effect on the date of this Agreement. 

  
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 1.69 “TripAdvisor Retirement Savings Plan Trust” means a trust relating to
the TripAdvisor Retirement Savings Plan intended to qualify under Section 401(a) and be exempt under Section 501(a) of the Code. 
 1.70 “TripAdvisor Stock Value” means the closing per-share price of TripAdvisor Common Stock trading in the “when issued market” on December 20, 2011, as listed on the
NASDAQ as of 4:00 P.M., New York City time. 
 1.71 “TripAdvisor U.S. Employee” means a TripAdvisor Employee
whose principal place of employment or engagement is in the U.S. 
 1.72 “U.S.” means the 50 United States of
America and the District of Columbia. 
 ARTICLE II 

GENERAL PRINCIPLES 
 2.1 Employment of TripAdvisor Employees. All TripAdvisor Employees shall continue to be employees of TripAdvisor or another TripAdvisor Entity, as the case may be, immediately after the Effective
Time. Notwithstanding any provision of this Agreement to the contrary, for purposes of this Agreement, the Parties shall treat the individuals (i) listed on Schedule A hereto as Expedia Employees, (ii) listed on Schedule
B hereto as TripAdvisor Employees, in each case, following the Effective Time and until the Parties mutually agree otherwise in writing. As soon as practicable following such time as (i) Expedia establishes a corporate entity in China
that has legal authority to hire employees, Expedia shall cause such entity to extend written offers of employment to each individual listed on Schedule A hereto, (ii) TripAdvisor establishes a corporate entity in Korea that has legal
authority to hire employees, TripAdvisor shall cause such entity to extend a written offer of employment to the individual listed in Section 1 of Schedule B hereto, and (iii) TripAdvisor establishes a corporate entity in Australia that
has legal authority to hire employees, TripAdvisor shall cause such entity to extend a written offer of employment to the individual listed in Section 2 of Schedule B hereto. Each offer referred to in the immediately preceding sentence
shall provide for compensation, benefits and terms of employment at least as favorable as those in effect at TripAdvisor or Expedia, as applicable, immediately prior to the other company (Expedia or TripAdvisor, as applicable) making such offer.

 2.2 Assumption and Retention of Liabilities; Related Assets. 

(a) As of the Effective Date, except as expressly provided in this Agreement, the Expedia Entities shall assume or retain and Expedia
hereby agrees to pay, perform, fulfill and discharge, in due course in full (i) all Liabilities under all Expedia Benefit Plans with respect to all Expedia Employees, Former Expedia Employees and their dependents and beneficiaries,
(ii) all Liabilities with respect to the employment or termination of employment of all Expedia Employees, Former Expedia Employees, and other service providers (including any individual who is, or was, an independent contractor, temporary
employee, temporary service worker, consultant, freelancer, agency employee, leased employee, on-call worker, incidental worker, or nonpayroll worker of any Expedia Entity or in any other employment, non-employment, or retainer arrangement, or
relationship with any Expedia Entity), in each case to the extent arising in connection with or as a result of employment with or the performance of services to any Expedia Entity, and (iii) any other Liabilities expressly assigned to Expedia
under this Agreement. All assets held in trust to fund the Expedia Benefit Plans and all insurance policies funding the Expedia Benefit Plans shall be Expedia Assets (as defined in the Separation Agreement), except to the extent specifically
provided otherwise in this Agreement. 

  
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 (b) From and after the Effective Date, except as expressly provided in this Agreement,
TripAdvisor and the TripAdvisor Entities shall assume or retain, as applicable, and TripAdvisor hereby agrees to pay, perform, fulfill and discharge, in due course in full, (i) all Liabilities under all TripAdvisor Benefit Plans, (ii) all
Liabilities with respect to the employment or termination of employment of all TripAdvisor Employees, Former TripAdvisor Employees, and other service providers (including any individual who is, or was, an independent contractor, temporary employee,
temporary service worker, consultant, freelancer, agency employee, leased employee, on-call worker, incidental worker, or nonpayroll worker of TripAdvisor or any TripAdvisor Entity or in any other employment, non-employment, or retainer arrangement,
or relationship with TripAdvisor or a TripAdvisor Entity), in each case to the extent arising in connection with or as a result of employment with or the performance of services to any TripAdvisor Entity, and (iii) any other Liabilities
expressly assigned to TripAdvisor or any TripAdvisor Entity under this Agreement. 
 2.3 TripAdvisor Participation in Expedia
Benefit Plans. Except as expressly provided in this Agreement and the Transition Services Agreement, effective as of the Effective Time, TripAdvisor and each other TripAdvisor Entity shall cease to be a Participating Company in any Expedia
Benefit Plan, and Expedia and TripAdvisor shall take all necessary action to effectuate such cessation as a Participating Company. 
 2.4 Terms of Participation by TripAdvisor Employees in TripAdvisor Benefit Plans. Expedia and TripAdvisor shall agree on methods and procedures, including, without limitation, amending the
respective Benefit Plan documents, to prevent TripAdvisor Employees from receiving duplicative benefits from the Expedia Benefit Plans and the TripAdvisor Benefit Plans. With respect to TripAdvisor Employees, each TripAdvisor Benefit Plan shall
provide that all service, all compensation and all other benefit-affecting determinations that, as of the Effective Time, were recognized under the corresponding Expedia Benefit Plan shall, as of Immediately after the Effective Date or any
subsequent effective date for such TripAdvisor Benefit Plan, receive full recognition, credit and validity and be taken into account under such TripAdvisor Benefit Plan to the same extent as if such items occurred under such TripAdvisor Benefit
Plan, except to the extent that duplication of benefits would result or for benefit accrual under any defined benefit pension plan. 
 2.5 Commercially Reasonable Efforts. Expedia and TripAdvisor shall use commercially reasonable efforts to (a) enter into any necessary agreements to accomplish the assumptions and transfers
contemplated by this Agreement; and (b) provide for the maintenance of the necessary participant records, the appointment of the trustees and the engagement of recordkeepers, investment managers, providers, insurers, and other third parties
reasonably necessary to maintaining and administering the Expedia Benefit Plans and the TripAdvisor Benefit Plans. 
 2.6
Regulatory Compliance. Expedia and TripAdvisor shall, in connection with the actions taken pursuant to this Agreement, reasonably cooperate in making any and all appropriate filings required under the Code, ERISA and any applicable securities
laws, 

  
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implementing all appropriate communications with participants, transferring appropriate records and taking all such other actions as the requesting party may reasonably determine to be necessary
or appropriate to implement the provisions of this Agreement in a timely manner. 
 2.7 Approval by Expedia as Sole
Stockholder. Prior to the Effective Time, Expedia shall cause TripAdvisor to adopt the TripAdvisor Long-Term Incentive Plan. 

ARTICLE III 

SAVINGS PLANS 
 3.1 Savings Plan. TripAdvisor has established the TripAdvisor Retirement Savings Plan and the TripAdvisor Retirement Savings Plan Trust. Expedia has caused the accounts of the TripAdvisor Employees
and Former TripAdvisor Employees under the Expedia Retirement Savings Plan (including any outstanding participant loans) to be transferred to the TripAdvisor Retirement Savings Plan and the TripAdvisor Retirement Savings Plan Trust in cash or such
other assets as mutually agreed by Expedia and TripAdvisor. TripAdvisor shall cause the TripAdvisor Retirement Savings Plan to assume and be solely responsible for all Liabilities for plan benefits under the TripAdvisor Retirement Savings Plan to or
relating to TripAdvisor Employees and Former TripAdvisor Employees whose accounts have been transferred from the Expedia Retirement Savings Plan. Expedia and TripAdvisor agree to cooperate in making all appropriate filings and taking all reasonable
actions required to implement the provisions of this Section 3.1; provided that TripAdvisor acknowledges that it will be responsible for complying with any requirements and applying for any Internal Revenue Service determination letters
with respect to the TripAdvisor Retirement Savings Plan. 
 3.2 Stock Considerations. There is no Expedia Common Stock
held in the TripAdvisor Retirement Savings Plan. To the extent that Expedia Employees or Former Expedia Employees receive shares of TripAdvisor Common Stock in connection with the Separation with respect to Expedia Common Stock held under the
Expedia Retirement Savings Plan, such shares will be deposited in a TripAdvisor Common Stock Fund under the Expedia Retirement Savings Plan, subject to such limitations, or the removal of the TripAdvisor Common Stock Fund, in each case, as
determined solely by Expedia or the applicable fiduciary of the Expedia Retirement Savings Plan. Following the Effective Date, Expedia Employees and Former Expedia Employees shall not be permitted to acquire shares of TripAdvisor Common Stock in the
TripAdvisor Common Stock Fund under the Expedia Retirement Savings Plan. Expedia and TripAdvisor shall assume sole responsibility for ensuring that their respective savings plans are maintained in compliance with applicable laws with respect to
holding shares of their respective common stock and common stock of the other entity. 

  
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 ARTICLE IV 
 HEALTH AND WELFARE PLANS 
 4.1 U.S. Health and Welfare Plans

 (a) Transition Period. Expedia will cause the Expedia Health and Welfare Plans in effect on the Effective Date to
provide coverage to TripAdvisor U.S. Employees and Former TripAdvisor U.S. Employees (and, in each case, their beneficiaries and dependents) from and after the Effective Date until December 31, 2011 (such period, the “H&W Transition
Period”) on the same basis as immediately prior to the Effective Date and in accordance with the terms of Expedia’s Health and Welfare Plans. No later than January 31, 2012, Expedia shall provide to TripAdvisor an invoice for
providing coverage to the TripAdvisor U.S. Employees and the Former TripAdvisor U.S. Employees under the Expedia Health and Welfare Plans during the H&W Transition Period, the amount of such invoice to equal the product (such product, the
“H&W Transition Period Amount”) obtained by multiplying (i) the amount that Expedia would charge TripAdvisor in respect of providing coverage to the TripAdvisor U.S. Employees and Former TripAdvisor U.S. Employees under the
Expedia Health and Welfare Plans during December 2011 if the Effective Time did not occur, calculated in accordance with past practice, and (ii) 35%. TripAdvsior shall remit to Expedia the H&W Transition Period Amount no later than
February 15, 2012. Expedia’s calculation of the H&W Transition Period Amount pursuant to this Section 4.1(a) shall be final and binding upon TripAdvisor. 
 (b) Establishment of TripAdvisor Health and Welfare Plans. 

(i) Effective as of January 1, 2012, TripAdvisor shall adopt Health and Welfare Plans for the benefit of TripAdvisor
U.S. Employees and Former TripAdvisor U.S. Employees, and TripAdvisor shall be responsible for all Liabilities relating to, arising out of or resulting from health and welfare coverage (including COBRA continuation coverage) or claims incurred by or
on behalf of TripAdvisor U.S. Employees, Former TripAdvisor U.S. Employees or their covered dependents under the TripAdvisor Health and Welfare Plans prior to, on or after the Effective Date. No Expedia Health and Welfare Plan shall be required to
make COBRA continuation coverage available to any TripAdvisor U.S. Employees, Former TripAdvisor U.S. Employees or their covered dependents after the H&W Transition Period. 

(ii) For the avoidance of doubt, with respect to any TripAdvisor U.S. Employee who becomes disabled under the terms of the
Expedia Health and Welfare Plans and becomes entitled to receive long-term or short-term disability benefits prior to January 1, 2012, such TripAdvisor U.S. Employee shall receive long-term or short-term disability benefits under the
TripAdvisor Health and Welfare Plans on and after January 1, 2012 in accordance with the terms of the TripAdvisor Health and Welfare Plans. 
 (c) Flexible Benefit Plan. TripAdvisor shall continue to participate in the Expedia Flexible Benefit Plan until December 31, 2011 for the benefit of TripAdvisor U.S. Employees. Effective as of
January 1, 2012, TripAdvisor shall establish the TripAdvisor Flexible Benefit Plan. 

  
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 (d) COBRA and HIPAA Compliance. Expedia shall be responsible for administering
compliance with the health care continuation requirements of COBRA, the certificate of creditable coverage requirements of HIPAA, and the corresponding provisions of the Expedia Health and Welfare Plans with respect to Expedia Employees and Former
Expedia Employees and their covered dependents who incur a COBRA qualifying event or loss of coverage under the Expedia Health and Welfare Plans at any time before, on or after the Effective Time. Until December 31, 2011, Expedia shall be
responsible for administering compliance with the health care continuation requirements of COBRA, the certificate of creditable coverage requirements of HIPAA, and the corresponding provisions of the Expedia Health and Welfare Plans with respect to
TripAdvisor Employees and Former TripAdvisor Employees and their covered dependents who incur a COBRA qualifying event or loss of coverage under the Expedia Health and Welfare Plans at any time through December 31, 2011. On and after
January 1, 2011, TripAdvisor or another TripAdvisor Entity shall be responsible for administering compliance with the health care continuation requirements of COBRA, the certificate of creditable coverage requirements of HIPAA, and the
corresponding provisions of the TripAdvisor Health and Welfare Plans and/or the Expedia Health and Welfare Plans with respect to TripAdvisor Employees and Former TripAdvisor Employees and their covered dependents who incur a COBRA qualifying event
or loss of coverage under the TripAdvisor Health and Welfare Plans and/or the Expedia Health and Welfare Plans at any time before, on or after the Effective Time. The Parties hereto agree that the consummation of the transactions contemplated by
this Agreement and the Separation Agreement shall not constitute a COBRA qualifying event for any purpose of COBRA. 
 4.2
Non-U.S. Health and Welfare Plans. Effective as of the Effective Date, TripAdvisor shall adopt Health and Welfare Plans for the benefit of TripAdvisor Non-U.S. Employees and Former TripAdvisor Non-U.S. Employees, and TripAdvisor shall be
responsible for all Liabilities relating to, arising out of or resulting from health and welfare coverage or claims incurred by or on behalf of TripAdvisor Non-U.S. Employees, Former TripAdvisor Non-U.S. Employees or their covered dependents under
the TripAdvisor Health and Welfare Plans prior to, on or after the Effective Date. 
 4.3 Retention of Sponsorship and
Liabilities. Following the Effective Date, Expedia shall retain: 
 (a) sponsorship of all Expedia Health and Welfare Plans
and any trust or other funding arrangement established or maintained with respect to such plans, including any “voluntary employee’s beneficiary association,” or any assets held as of the Effective Date with respect to such plans; and

 (b) all Liabilities relating to, arising out of, or resulting from health and welfare coverage or claims incurred by or on
behalf of Expedia Employees or Former Expedia Employees or their covered dependents under the Expedia Health and Welfare Plans prior to, on or after the Effective Date. 

  
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 Other than as contemplated by Section 4.1(a) with respect to the H&W Transition Period, Expedia
shall not assume any Liability relating to health and welfare claims incurred by or on behalf of TripAdvisor Employees or Former TripAdvisor Employees or their respective covered dependents prior to, on or after the Effective Date, and such claims
shall be satisfied pursuant to Section 4.1(b)(i) and Section 4.2. 
 4.4 Vendor Contracts. 

(a) Third-Party ASO Contracts, Group Insurance Policies and HMOs. Expedia and TripAdvisor shall use commercially reasonable efforts
to obligate the third party administrator of each administrative-services-only contract with a third-party administrator that relates to any of the Expedia Health and Welfare Plans (an “ASO Contract”), each group insurance policy
that relates to any of the Expedia Health and Welfare Plans (“Group Insurance Policies”) and each agreement with a Health Maintenance Organization that provides medical services under the Expedia Health and Welfare Plans
(“HMO Agreements”), in each case, in existence as of the date of this Agreement that is applicable to TripAdvisor Employees, to enter into a separate ASO Contract, Group Insurance Policy and HMO Agreement, as applicable, with
TripAdvisor providing for similar terms and conditions as are contained in the ASO Contracts, Group Insurance Policies and HMO Agreements, as applicable, to which Expedia is a party. Such terms and conditions shall include the financial and
termination provisions, performance standards, methodology, auditing policies, quality measures and reporting requirements. 

(b) Effect of Change in Rates. Expedia and TripAdvisor shall use commercially reasonable efforts to cause each of the insurance
companies and third-party administrators providing services and benefits under the Expedia Health and Welfare Plans and the TripAdvisor Health and Welfare Plans to maintain the premium and/or administrative rates based on the aggregate number of
participants in both the Expedia Health and Welfare Plans and the TripAdvisor Health and Welfare Plans as of immediately prior to the Effective Date through the end of the year in which the Effective Date occurs. To the extent they are not
successful in such efforts, Expedia and TripAdvisor shall each bear the revised premium or administrative rates attributable to the individuals covered by their respective Health and Welfare Plans. 

4.5 Workers’ Compensation Liabilities. All workers’ compensation Liabilities relating to, arising out of, or resulting
from any claim by an Expedia Employee, Former Expedia Employee, TripAdvisor Employee and Former TripAdvisor Employee that results from an accident occurring, or from an occupational disease which becomes manifest, on or before the Effective Time
shall be retained by Expedia. All workers’ compensation Liabilities relating to, arising out of, or resulting from any claim by an Expedia Employee or Former Expedia Employee that results from an accident occurring, or from an occupational

  
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disease which becomes manifest, on or after the Effective Date shall be retained by Expedia. All workers’ compensation Liabilities relating to, arising out of, or resulting from any claim by
a TripAdvisor Employee or Former TripAdvisor Employee that results from an accident occurring, or from an occupational disease which becomes manifest, on or after the Effective Date shall be retained by TripAdvisor. For purposes of this Agreement, a
compensable injury shall be deemed to be sustained upon the occurrence of the event giving rise to eligibility for workers’ compensation benefits or at the time that an occupational disease becomes manifest, as the case may be. Expedia,
TripAdvisor and the other TripAdvisor Entities shall cooperate with respect to any notification to appropriate governmental agencies of the effective time and the issuance of new, or the transfer of existing, workers’ compensation insurance
policies and claims handling contracts. 
 4.6 Payroll Taxes and Reporting of Compensation. Expedia and TripAdvisor
shall, and shall cause the other Expedia Entities and the other TripAdvisor Entities to, respectively, take such action as may be reasonably necessary or appropriate in order to minimize Liabilities related to payroll taxes after the Effective Date.
Expedia and TripAdvisor shall, and shall cause the other Expedia Entities and the other TripAdvisor Entities to, respectively, each bear its responsibility for payroll tax obligations and for the proper reporting to the appropriate governmental
authorities of compensation earned by their respective employees after the Effective Time, including compensation related to the exercise of Options. 
 ARTICLE V 
 EXECUTIVE BENEFITS AND OTHER BENEFITS 

5.1 Assumption of Obligations. Except as provided in this Agreement, effective as of the Effective Time, TripAdvisor shall assume
and be solely responsible for all Liabilities to or relating to TripAdvisor Employees and Former TripAdvisor Employees under all Expedia Executive Benefit Plans and TripAdvisor Executive Benefit Plans. The Parties hereto agree that none of the
transactions contemplated by the Separation Agreement or any of the Ancillary Agreements, including, without limitation, this Agreement, constitutes a “change in control,” “change of control” or similar term, as applicable,
within the meaning of any Benefit Plan, the Expedia Long-Term Incentive Plan or the TripAdvisor Long-Term Incentive Plan. 
 5.2
Expedia Incentive Plans. 
 (a) TripAdvisor Bonus Awards. TripAdvisor shall be responsible for determining all
bonus awards that would otherwise be payable under the Expedia Incentive Plans to TripAdvisor Employees for the year in which the Effective Time occurs. TripAdvisor shall also determine for TripAdvisor Employees (i) the extent to which
established performance criteria (as interpreted by TripAdvisor, in its sole discretion) have been met, and (ii) the payment level for each TripAdvisor Employee. TripAdvisor shall assume all Liabilities with respect to any such bonus awards
payable to TripAdvisor Employees for the year in which the Effective Time occurs and thereafter. 
 (b) Expedia Bonus
Awards. Expedia shall retain all Liabilities with respect to any bonus awards payable under the Expedia Incentive Plans to Expedia Employees for the year in which the Effective Time occurs and thereafter. 

  
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 5.3 Expedia Long-Term Incentive Plan. Expedia and TripAdvisor shall use commercially
reasonable efforts to take all actions necessary or appropriate so that each outstanding Option and RSU granted under any Expedia Long-Term Incentive Plan held by any individual shall be adjusted as set forth in this Article V. The adjustments set
forth below shall be the sole adjustments made with respect to Expedia Options and Expedia RSUs in connection with the Reverse Stock Split and the other transactions contemplated by the Separation Agreement. Following the Separation, for any award
adjusted under this Section 5.3, any reference to a “change in control,” “change of control” or similar definition in an award agreement, employment agreement or the Expedia Long-Term Incentive Plan (x) with respect to
post-Separation equity awards denominated in shares of Expedia Common Stock, such reference shall be deemed to refer to a “change in control,” “change of control” or similar definition as set forth in the applicable award
agreement, employment agreement or the Expedia Long-Term Incentive Plan, and (y) with respect to post-Separation equity awards denominated in shares of TripAdvisor Common Stock, such reference shall be deemed to refer to a “Change in
Control” as defined in the TripAdvisor Long-Term Incentive Plan. 
 (a) Vested Expedia Options. As determined by the
Compensation Committee of the Expedia Board of Directors (the “Committee”) pursuant to its authority under the Expedia Long-Term Incentive Plan, each Expedia Option that is vested as of the Effective Time shall be converted into
both a TripAdvisor Option and an Expedia Option and shall otherwise be subject to the same terms and conditions after the Effective Time as the terms and conditions applicable to such Expedia Option immediately prior to the Effective Time;
provided, however, that from and after the Effective Time: 
 (i) the number of shares of Expedia
Common Stock subject to such Expedia Option, rounded down to the nearest whole share, shall be equal to the product obtained by multiplying (A) the Expedia Ratio by (B) the Expedia Allocation Factor by (C) the number of shares of
Expedia Common Stock subject to such Expedia Option immediately prior to the Reverse Stock Split and the Effective Time, 
 (ii) the number of shares of TripAdvisor Common Stock subject to such TripAdvisor Option, rounded down to the nearest whole share, shall be equal to the product obtained by multiplying (A) the
TripAdvisor Ratio by (B) the TripAdvisor Allocation Factor by (C) the number of shares of Expedia Common Stock subject to Expedia Option immediately prior to the Reverse Stock Split and the Effective Time, 

(iii) the per share exercise price of such Expedia Option, rounded up to the nearest whole cent, shall be equal to the
quotient obtained by dividing (x) the per share exercise price of such Expedia Option immediately prior to the Reverse Stock Split and the Effective Time by (y) the Expedia Ratio, and 

(iv) the per share exercise price of the TripAdvisor Option, rounded up to the nearest whole cent, shall be equal to the
quotient obtained by dividing (x) the per share exercise price of the Expedia Option immediately prior to the Reverse Stock Split and the Effective Time by (y) the TripAdvisor Ratio; 

  
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 provided, further, however, that (x) the exercise price, the number of shares of
Expedia Common Stock and TripAdvisor Common Stock subject to such options and the terms and conditions of exercise of such options shall be determined in a manner consistent with the requirements of Section 409A of the Code, and (y) in the
case of any Expedia Option to which Section 421 of the Code applies by reason of its qualification under Section 422 of the Code as of immediately prior to the Effective Time, the exercise price, the number of shares of Expedia Common
Stock and TripAdvisor Common Stock subject to such option and the terms and conditions of exercise of such option shall be determined in a manner consistent with the requirements of Section 424(a) of the Code. 

(b) Unvested Expedia Options Held by Expedia Employees (other than Barry Diller) and Former Expedia Employees. As determined by
the Committee pursuant to its authority under the Expedia Long-Term Incentive Plan, each Expedia Option held by an Expedia Employee (other than Barry Diller) or a Former Expedia Employee that is unvested as of the Effective Time shall be subject to
the same terms and conditions after the Effective Time as the terms and conditions applicable to such Expedia Option immediately prior to the Effective Time; provided, however, that from and after the Effective Time: 

(i) the number of shares of Expedia Common Stock subject to such Expedia Option, rounded down to the nearest whole share,
shall be equal to the product obtained by multiplying (A) the number of shares of Expedia Common Stock subject to such Expedia Option immediately prior to the Reverse Stock Split and the Effective Time by (B) the Expedia Ratio, and

 (ii) the per share exercise price of such Expedia Option, rounded up to the nearest whole cent, shall be equal
to the quotient obtained by dividing (A) the per share exercise price of such Expedia Option immediately prior to the Reverse Stock Split and the Effective Time by (B) the Expedia Ratio; 

provided, further, however, that (x) the exercise price, the number of shares of Expedia Common Stock subject to such option
and the terms and conditions of exercise of such option shall be determined in a manner consistent with the requirements of Section 409A of the Code, and (y) in the case of any Expedia Option to which Section 421 of the Code applies
by reason of its qualification under Section 422 of the Code as of immediately prior to the Effective Time, the exercise price, the number of shares of Expedia Common Stock subject to such option and the terms and conditions of exercise of such
option shall be determined in a manner consistent with the requirements of Section 424(a) of the Code. 
 (c) Unvested
Expedia Options Held by TripAdvisor Employees (other than Barry Diller) and Former TripAdvisor Employees. As determined by the Committee pursuant to its authority under the Expedia Long-Term Incentive Plan, each Expedia Option held by a
TripAdvisor Employee (other than Barry Diller) or Former TripAdvisor Employee that is unvested as of the Effective Time shall be converted into a TripAdvisor Option and shall otherwise be subject to the same terms and conditions after the Effective
Time as the terms and conditions applicable to such Expedia Option immediately prior to the Effective Time; provided, however, that from and after the Effective Time: 

(i) the number of shares of TripAdvisor Common Stock subject to such Option, rounded down to the nearest whole share,
shall be equal to the product obtained by multiplying (A) the number of shares of Expedia Common Stock subject to such Expedia Option immediately prior to the Reverse Stock Split and the Effective Time by (B) the TripAdvisor Ratio, and

  
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 (ii) the per share exercise price of such TripAdvisor Option, rounded up to
the nearest whole cent, shall be equal to the quotient obtained by dividing (A) the per share exercise price of such Expedia Option immediately prior to the Reverse Stock Split and the Effective Time by (B) the TripAdvisor Ratio;

 provided, further, however, that (x) the exercise price, the number of shares of TripAdvisor Common Stock subject
to such option and the terms and conditions of exercise of such option shall be determined in a manner consistent with the requirements of Section 409A of the Code, and (y) in the case of any Expedia Option to which Section 421 of the
Code applies by reason of its qualification under Section 422 of the Code as of the Effective Time, the exercise price, the number of shares of TripAdvisor Common Stock subject to such option and the terms and conditions of exercise of such
option shall be determined in a manner consistent with the requirements of Section 424(a) of the Code. 
 (d) Unvested
Expedia Options Held by Barry Diller. As determined by the Committee pursuant to its authority under the Expedia Long-Term Incentive Plan, each Expedia Option held by Barry Diller that is unvested as of the Effective Time shall be converted into
both a TripAdvisor Option and an Expedia Option and shall otherwise be subject to the same terms and conditions after the Effective Time as the terms and conditions applicable to such Expedia Option immediately prior to the Effective Time;
provided, however, that from and after the Effective Time: 
 (i) the number of shares of Expedia
Common Stock subject to such Expedia Option, rounded down to the nearest whole share, shall be equal to the product obtained by multiplying (A) the Expedia Ratio by (B) the Expedia Allocation Factor by (C) the number of shares of
Expedia Common Stock subject to such Expedia Option immediately prior to the Reverse Stock Split and the Effective Time, 
 (ii) the number of shares of TripAdvisor Common Stock subject to such TripAdvisor Option, rounded down to the nearest whole share, shall be equal to the product obtained by multiplying (A) the
TripAdvisor Ratio by (B) the TripAdvisor Allocation Factor by (C) the number of shares of Expedia Common Stock subject to the Expedia Option immediately prior to the Reverse Stock Split and the Effective Time, 

(iii) the per share exercise price of such Expedia Option, rounded up to the nearest whole cent, shall be equal to the
quotient obtained by dividing (A) the per share exercise price of such Expedia Option immediately prior to the Reverse Stock Split and the Effective Time by (B) the Expedia Ratio, and 

  
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 (iv) the per share exercise price of the TripAdvisor Option, rounded up to
the nearest whole cent, shall be equal to the quotient obtained by dividing (A) the per share exercise price of the Expedia Option immediately prior to the Reverse Stock Split and the Effective Time by (B) the TripAdvisor Ratio;

 provided, further, however, that the exercise price, the number of shares of Expedia Common Stock and
TripAdvisor Common Stock subject to such options and the terms and conditions of exercise of such options shall be determined in a manner consistent with the requirements of Section 409A of the Code. Following the Effective Time, the
satisfaction of conditions to vesting of Barry Diller’s Expedia Options governed by this Section 5.3(d) will be determined based on Barry Diller’s employment with Expedia, and the satisfaction of conditions to vesting of Barry
Diller’s TripAdvisor Options governed by this Section 5.3(d) will be determined based on Barry Diller’s employment with TripAdvisor.  
 (e) Expedia RSUs Held by Expedia Employees (other than Expedia RSUs Held by Barry Diller and other than the DK Performance-Based Expedia RSUs) and Former Expedia Employees and Expedia RSUs Awarded in
Respect of Service as an Expedia Director. As determined by the Committee pursuant to its authority under the Expedia Long-Term Incentive Plan (or in the case of Expedia RSUs held under the Expedia Director DC Plan, by the Expedia Board of
Directors pursuant to its authority under the Expedia Director DC Plan), Expedia RSUs held by an Expedia Employee or a Former Expedia Employee (other than Expedia RSUs held by Barry Diller and other than the DK Performance-Based Expedia RSUs) and
Expedia RSUs awarded in respect of service as an Expedia director (whether pursuant to the Expedia Long-Term Incentive Plan or the Expedia Director DC Plan) shall be subject to the same terms and conditions after the Effective Time as the terms and
conditions applicable to such Expedia RSUs immediately prior to the Effective Time; provided, however, that from and after the Effective Time, the number of Expedia RSUs, rounded to the nearest whole share, shall be equal to the
product obtained by multiplying (i) the number of Expedia RSUs immediately prior to the Reverse Stock Split and the Effective Time by (ii) the Expedia Ratio. 
 (f) Expedia RSUs Held by TripAdvisor Employees (other than Barry Diller) and Former TripAdvisor Employees. As determined by the Committee pursuant to its authority under the Expedia Long-Term
Incentive Plan, the Expedia RSUs held by a TripAdvisor Employee (other than Barry Diller) or a Former TripAdvisor Employee as of the Effective Time shall be converted into TripAdvisor RSUs, and shall otherwise be subject to the same terms and
conditions after the Effective Time as the terms and conditions applicable to such Expedia RSUs immediately prior to the Effective Time; provided, however, that from and after the Effective Time, the number of TripAdvisor RSUs, rounded
to the nearest whole share, shall be equal to the product obtained by multiplying (i) the number of Expedia RSUs immediately prior to the Reverse Stock Split and the Effective Time by (ii) the TripAdvisor Ratio. 

  
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 (g) Expedia RSUs Held by Barry Diller. As determined by the Committee pursuant to its
authority under the Expedia Long-Term Incentive Plan, the Expedia RSUs held by Barry Diller as of the Effective Time shall be converted into: 
 (i) Expedia RSUs, and shall otherwise be subject to the same terms and conditions after the Effective Time as the terms and conditions applicable to such Expedia RSUs immediately prior to the Effective
Time; provided, however, that from and after the Effective Time, (A) the number of Expedia RSUs, rounded to the nearest whole share, shall be equal to one half the number of Expedia RSUs immediately prior to the Reverse Stock
Split and the Effective Time, and (B) the amount of any corresponding accrued and unpaid dividends, rounded to the nearest whole cent, shall be equal to the product obtained by multiplying (1) the amount of any corresponding accrued and
unpaid dividends immediately prior to the Reverse Stock Split and the Effective Time, by (2) the Expedia Allocation Factor, and 
 (ii) TripAdvisor RSUs, and shall otherwise be subject to the same terms and conditions after the Effective Time as the terms and conditions applicable to such Expedia RSUs immediately prior to the
Effective Time; provided, however, that from and after the Effective Time (A) the number of TripAdvisor RSUs, rounded to the nearest whole share, shall be equal to one half the number of Expedia RSUs immediately prior to the
Reverse Stock Split and the Effective Time, and (B) the amount of any corresponding accrued and unpaid dividends, rounded to the nearest whole cent, shall be equal to the product obtained by multiplying (1) the amount of any corresponding
accrued and unpaid dividends immediately prior to the Reverse Stock Split and the Effective Time, by (2) the TripAdvisor Allocation Factor. 
 Following the Effective Time, the satisfaction of conditions to vesting of Barry Diller’s Expedia RSUs governed by this Section 5.3(g) will be determined based on Barry Diller’s employment
with Expedia, and the satisfaction of conditions to vesting of Barry Diller’s TripAdvisor RSUs governed by this Section 5.3(g) will be determined based on Barry Diller’s employment with TripAdvisor. 

(h) DK Performance-Based Expedia RSUs. As determined by the Committee pursuant to its authority under the Expedia Long-Term
Incentive Plan, the DK Performance-Based Expedia RSUs that are outstanding as of the Effective Time shall be converted into: 
 (i) Expedia RSUs, and shall otherwise be subject to the same terms and conditions after the Effective Time as the terms and conditions applicable to such Expedia RSUs immediately prior to the Effective
Time; provided, however, that from and after the Effective Time (A) the number of Expedia RSUs, rounded to the nearest whole share, shall be equal to one half the number of Expedia RSUs immediately prior to the Reverse Stock Split
and the Effective Time, (B) the vesting of such Expedia RSUs will be determined in accordance with the terms of an amended and restated award agreement between Dara Khosrowshahi and Expedia, and (C) the amount of any

  
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corresponding accrued and unpaid dividends, rounded to the nearest whole cent, shall be equal to the product obtained by multiplying (1) the amount of any corresponding accrued and unpaid
dividends immediately prior to the Reverse Stock Split and the Effective Time, by (2) the Expedia Allocation Factor; and 
 (ii) TripAdvisor RSUs, and shall otherwise be subject to the same terms and conditions after the Effective Time as the terms and conditions applicable to such Expedia RSUs immediately prior to the
Effective Time; provided, however, that from and after the Effective Time (A) the number of TripAdvisor RSUs, rounded to the nearest whole share, shall be equal to one half the number of Expedia RSUs immediately prior to the
Reverse Stock Split and the Effective Time, (B) the vesting of such TripAdvisor RSUs will be determined in accordance with the terms of an award agreement between Dara Khosrowshahi and TripAdvisor, and (C) the amount of any corresponding
accrued and unpaid dividends, rounded to the nearest whole cent, shall be equal to the product obtained by multiplying (1) the amount of any corresponding accrued and unpaid dividends immediately prior to the Reverse Stock Split and the
Effective Time, by (2) the TripAdvisor Allocation Factor. 
 (i) Foreign Grants/Awards. To the extent that any of
the Expedia RSUs or any of the Expedia Options are granted to non-U.S. employees under any domestic or foreign equity-based incentive program sponsored by an Expedia Entity, Expedia and TripAdvisor shall use their commercially reasonable efforts to
preserve, at and after the Effective Time, the value and tax treatment accorded to such Expedia Options and such Expedia RSUs granted to non-U.S. employees under any domestic or foreign equity-based incentive program sponsored by an Expedia Entity.

 (j) Miscellaneous Option and Other RSU Terms. After the Effective Date, Expedia Options and Expedia RSUs (including
any corresponding dividend equivalents) adjusted pursuant to Section 5.3, regardless of by whom held, shall be settled by Expedia pursuant to the terms of the Expedia Long-Term Incentive Plan, and TripAdvisor Options and TripAdvisor RSUs
(including any corresponding dividend equivalents), regardless of by whom held, shall be settled by TripAdvisor pursuant to the terms of the TripAdvisor Long-Term Incentive Plan. Accordingly, it is intended that, to the extent of the issuance of
such TripAdvisor Options and TripAdvisor RSUs in connection with the adjustment provisions of this Section 5.3, the TripAdvisor Long-Term Incentive Plan shall be considered a successor to the Expedia Long-Term Incentive Plan and to have assumed
the obligations of the applicable Expedia Long-Term Incentive Plan to make the adjustment of the Expedia Options and Expedia RSUs as set forth in this Section 5.3. The Effective Time shall not constitute a termination of employment for any
TripAdvisor Employees for purposes of any Expedia Option or Expedia RSU and, except as otherwise provided in this Agreement, with respect to grants adjusted pursuant to this Section 5.3, employment with TripAdvisor shall be treated as
employment with Expedia with respect to Expedia Options held by TripAdvisor Employees and employment with Expedia shall be treated as employment with TripAdvisor with respect to TripAdvisor Options held by Expedia Employees. Barry Diller shall be
treated as (i) an Expedia Employee with respect to the vesting and exercisability of Expedia equity awards, and (ii) a TripAdvisor Employee with respect to the vesting and excercisability of TripAdvisor equity awards. 

  
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 (k) Waiting Period for Exercisability of Options and Grant of Options and RSUs. The
Expedia Options and TripAdvisor Options shall not be exercisable during a period beginning on a date prior to the Effective Date determined by Expedia in its sole discretion, and continuing until the Expedia Post-Separation Stock Value and the
TripAdvisor Stock Value are determined after the Effective Time, or such longer period as Expedia, with respect to Expedia Options, and TripAdvisor, with respect to TripAdvisor Options, determines necessary to implement the provisions of this
Section 5.3. The Expedia RSUs and TripAdvisor RSUs shall not be settled during a period beginning on a date prior to the Effective Date determined by Expedia in its sole discretion, and continuing until the Expedia Post-Separation Stock Value
and the TripAdvisor Stock Value are determined immediately after the Effective Time, or such longer period as Expedia, with respect to Expedia RSUs, and TripAdvisor, with respect to TripAdvisor RSUs, determines necessary to implement the provisions
of this Section 5.3. 
 (l) Equity Plan Administrator. Each of Expedia and TripAdvisor agrees that it will use
Morgan Stanley Smith Barney to administer all employee equity awards that are outstanding immediately following the Effective Time (including all such equity awards that are adjusted in accordance with this Section 5.3). 

5.4 Restrictive Covenants. Following the Effective Date, TripAdvisor shall use commercially reasonable efforts to monitor the
TripAdvisor Employees and Former TripAdvisor Employees to determine whether any such TripAdvisor Employees or Former TripAdvisor Employees have breached any of the restrictive covenants in the agreements evidencing the terms of their Expedia Options
and Expedia Awards. As soon as practicable following TripAdvisor’s reasonable belief that a TripAdvisor Employee or Former TripAdvisor Employee has breached any such covenant, TripAdvisor shall provide Expedia in writing with the name and
address of such employee or former employee and a description of the breach that such employee or former employee is believed to have committed. Notwithstanding the foregoing or anything in any agreement evidencing the terms of any Expedia Options
and Expedia Awards or otherwise to the contrary, it shall not be a violation of any Expedia non-competition or non-solicitation of clients or customers covenant for a TripAdvisor Employee to engage in acts on behalf of TripAdvisor or a TripAdvisor
Entity that are otherwise prohibited by the terms of such non-competition or non-solicitation of clients or customers covenants and it shall not be a violation of any TripAdvisor non-competition or non-solicitation of clients or customers covenant
for an Expedia Employee to engage in acts on behalf of Expedia or an Expedia Entity that are otherwise prohibited by the terms of such non-competition or non-solicitation of clients or customers covenants. In addition, following the Effective Time,
the restrictive covenants (including, without limitation, any proprietary rights agreements or confidential information covenants) to which any TripAdvisor Employee or Former TripAdvisor Employee are party shall run in favor of TripAdvisor (and, to
the extent relating to Expedia, shall run in favor of Expedia to the same extent that they ran in favor of Expedia immediately prior to the Effective Time; provided, that the Effective Time shall be treated as a termination of

  
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employment from Expedia for purposes of the duration of Expedia’s ability to enforce the restrictive covenant) and the restrictive covenants to which any Expedia Employee or Former Expedia
Employee are party shall run in favor of Expedia. 
 5.5 Employment Agreements. Any employment agreement between Expedia
and a TripAdvisor Employee or Former TripAdvisor Employee shall as of the Effective Time be assigned by Expedia to TripAdvisor and assumed by TripAdvisor. 
 5.6 Registration Requirements. TripAdvisor agrees that it shall maintain on a continuous basis an effective registration statement under the Securities Act of 1933, as amended (the
“Securities Act”) (and maintain the prospectus contained therein for its intended use) with respect to the shares of TripAdvisor Common Stock authorized for issuance under the TripAdvisor Long-Term Incentive Plan. Expedia agrees
that, following the Effective Date, it shall use reasonable efforts to continue to maintain a Form S-8 Registration Statement with respect to and cause to be registered pursuant to the Securities Act, the shares of Expedia Common Stock authorized
for issuance under the Expedia Long-Term Incentive Plan as required pursuant to the Securities Act and any applicable rules or regulations thereunder. 
 5.7 Expedia Executive DC Plan. Expedia shall retain, or cause its Subsidiaries to retain, all Assets and all Liabilities arising out of or relating to the Expedia Executive DC Plan, and shall make
payments to all participants in such plans who are TripAdvisor Employees or Former TripAdvisor Employees in accordance with the terms of the Expedia Executive DC Plan. Expedia and TripAdvisor acknowledge that none of the transactions contemplated by
the Separation Agreement will trigger a payment or distribution of compensation under the Expedia Executive DC Plan for any TripAdvisor Employee or Former TripAdvisor Employee and, consequently, that the payment or distribution of any compensation
to which any TripAdvisor Employee or Former TripAdvisor Employee is entitled under the Expedia Executive DC Plan will occur upon such TripAdvisor Employee’s separation from service from TripAdvisor and its Subsidiaries or at such other time as
provided in the Expedia Executive DC Plan or such TripAdvisor Employee’s or Former TripAdvisor Employee’s deferral election. 
 5.8 Severance. A TripAdvisor Employee shall not be deemed to have terminated employment for purposes of determining eligibility for severance benefits in connection with or in anticipation of the
consummation of the transactions contemplated by the Separation Agreement. TripAdvisor shall be solely responsible for all Liabilities in respect of all costs arising out of payments and benefits relating to the termination or alleged termination of
any TripAdvisor Employee or Former TripAdvisor Employee’s employment that occurs prior to, as a result of, in connection with or following the consummation of the transactions contemplated by the Separation Agreement, including any amounts
required to be paid (including any payroll or other taxes), and the costs of providing benefits, under any applicable severance, separation, redundancy, termination or similar plan, program, practice, contract, agreement, law or regulation (such
benefits to include any medical or other welfare benefits, outplacement benefits, accrued vacation, and taxes). 

  
 -21-

 5.9 Miscellaneous. Immediately following the Effective Time, references to Expedia
Common Stock in the Expedia Long-Term Incentive Plan and the Expedia Director DC Plan shall mean common stock, $0.0001 par value per share, of Expedia, and such plans automatically shall be amended to reflect the foregoing without any further
action. 
 ARTICLE VI 
 GENERAL AND ADMINISTRATIVE 
 6.1 Sharing of Participant Information.
Expedia and TripAdvisor shall share, and Expedia shall cause each other Expedia Entity to share, and TripAdvisor shall cause each other TripAdvisor Entity to share with each other and their respective agents and vendors (without obtaining releases)
all participant information necessary for the efficient and accurate administration of each of the TripAdvisor Benefit Plans and the Expedia Benefit Plans. Expedia and TripAdvisor and their respective authorized agents shall, subject to applicable
laws, be given reasonable and timely access to, and may make copies of, all information relating to the subjects of this Agreement in the custody of the other Party, to the extent necessary for such administration. Until the Effective Time, all
participant information shall be provided in the manner and medium applicable to Participating Companies in Expedia Benefit Plans generally, and thereafter through the end of the H&W Transition Period, all participant information shall be
provided in a manner and medium as may be mutually agreed to by Expedia and TripAdvisor. 
 6.2 Reasonable
Efforts/Cooperation. Each of the Parties hereto will use its commercially reasonable efforts to promptly take, or cause to be taken, all actions and to do, or cause to be done, all things necessary, proper or advisable under applicable laws and
regulations to consummate the transactions contemplated by this Agreement. Each of the Parties hereto shall cooperate fully on any issue relating to the transactions contemplated by this Agreement for which the other Party seeks a determination
letter or private letter ruling from the Internal Revenue Service, an advisory opinion from the Department of Labor or any other filing (including, but not limited to, securities filings (remedial or otherwise)), consent or approval with respect to
or by a governmental agency or authority in any jurisdiction in the U.S. or abroad. 
 6.3 No Third-Party Beneficiaries.
This Agreement is solely for the benefit of the Parties and is not intended to confer upon any other Persons any rights or remedies hereunder. Except as expressly provided in this Agreement, nothing in this Agreement shall preclude Expedia or any
other Expedia Entity, at any time after the Effective Time, from amending, merging, modifying, terminating, eliminating, reducing, or otherwise altering in any respect any Expedia Benefit Plan, any benefit under any Benefit Plan or any trust,
insurance policy or funding vehicle related to any Expedia Benefit Plan. Except as expressly provided in this Agreement, nothing in this Agreement shall preclude TripAdvisor or any other TripAdvisor Entity, at any time after the Effective Time, from
amending, merging, modifying, terminating, eliminating, reducing, or otherwise altering in any respect any TripAdvisor Benefit Plan, any benefit under any Benefit Plan or any trust, insurance policy or funding vehicle related to any TripAdvisor
Benefit Plan. 

  
 -22-

 6.4 Audit Rights With Respect to Information Provided. 

(a) Each of Expedia and TripAdvisor, and their duly authorized representatives, shall have the right to conduct reasonable audits with
respect to all information required to be provided to it by the other Party under this Agreement. The Party conducting the audit (the “Auditing Party”) may adopt reasonable procedures and guidelines for conducting audits and the
selection of audit representatives under this Section 6.4. The Auditing Party shall have the right to make copies of any records at its expense, subject to any restrictions imposed by applicable laws and to any confidentiality provisions set
forth in the Separation Agreement, which are incorporated by reference herein. The Party being audited shall provide the Auditing Party’s representatives with reasonable access during normal business hours to its operations, computer systems
and paper and electronic files, and provide workspace to its representatives. After any audit is completed, the Party being audited shall have the right to review a draft of the audit findings and to comment on those findings in writing within
thirty business days after receiving such draft. 
 (b) The Auditing Party’s audit rights under this Section 6.4 shall
include the right to audit, or participate in an audit facilitated by the Party being audited, of any Subsidiaries and Affiliates of the Party being audited and to require the other Party to request any benefit providers and third parties with whom
the Party being audited has a relationship, or agents of such Party, to agree to such an audit to the extent any such Persons are affected by or addressed in this Agreement (collectively, the “Non-parties”). The Party being audited
shall, upon written request from the Auditing Party, provide an individual (at the Auditing Party’s expense) to supervise any audit of a Non-party. The Auditing Party shall be responsible for supplying, at the Auditing Party’s expense,
additional personnel sufficient to complete the audit in a reasonably timely manner. The responsibility of the Party being audited shall be limited to providing, at the Auditing Party’s expense, a single individual at each audited site for
purposes of facilitating the audit. 
 6.5 Fiduciary Matters. It is acknowledged that actions required to be taken
pursuant to this Agreement may be subject to fiduciary duties or standards of conduct under ERISA or other applicable law, and no Party shall be deemed to be in violation of this Agreement if it fails to comply with any provisions hereof based upon
its good faith determination that to do so would violate such a fiduciary duty or standard. Each Party shall be responsible for taking such actions as are deemed necessary and appropriate to comply with its own fiduciary responsibilities and shall
fully release and indemnify the other Party for any Liabilities caused by the failure to satisfy any such responsibility. 
 6.6
Consent of Third Parties. If any provision of this Agreement is dependent on the consent of any third party (such as a vendor) and such consent is withheld, the Parties hereto shall use commercially reasonable efforts to implement the
applicable provisions of this Agreement to the full extent practicable. If any provision of this Agreement cannot be 

  
 -23-

 
implemented due to the failure of such third party to consent, the Parties hereto shall negotiate in good faith to implement the provision in a mutually satisfactory manner. The phrase
“commercially reasonable efforts” as used herein shall not be construed to require any Party to incur any non-routine or unreasonable expense or Liability or to waive any right. 

ARTICLE VII 

MISCELLANEOUS 
 7.1 Effect If Effective Time Does Not Occur. If the Separation Agreement is terminated prior to the Effective Time, then this Agreement shall terminate and all actions and events that are, under
this Agreement, to be taken or occur effective immediately prior to or as of the Effective Time, or Immediately after the Effective Date, or otherwise in connection with the Separation Transactions, shall not be taken or occur except to the extent
specifically agreed by Expedia and TripAdvisor. 
 7.2 Relationship of Parties. Nothing in this Agreement shall be deemed
or construed by the Parties or any third party as creating the relationship of principal and agent, partnership or joint venture between the Parties, it being understood and agreed that no provision contained herein, and no act of the Parties, shall
be deemed to create any relationship between the Parties other than the relationship set forth herein. 
 7.3 Affiliates.
Each of Expedia and TripAdvisor shall cause to be performed, and hereby guarantees the performance of, all actions, agreements and obligations set forth in this Agreement to be performed by another Expedia Entity or a TripAdvisor Entity,
respectively. 
 7.4 Notices. All notices, requests, claims, demands and other communications hereunder shall be in
writing and shall be deemed given to a Party when (a) delivered to the appropriate address by hand or by nationally recognized overnight courier service (costs prepaid); (b) sent by facsimile with confirmation of transmission by the
transmitting equipment; or (c) received or rejected by the addressee, if sent by certified mail, return receipt requested, in each case to the following addresses and facsimile numbers and marked to the attention of the person (by name or
title) designated below (or to such other address, facsimile number or person as a Party may designate by notice to the other Parties): 
 (a) if to Expedia: 
 Expedia, Inc. 

333 108th Avenue NE 
 Bellevue, WA 98004 
 Attention: General Counsel 

Facsimile No.: (425) 679-7251 

  
 -24-

 with a copy to: 
 Wachtell, Lipton, Rosen & Katz 
 51 West 52nd Street 

New York, NY 10019 
 Attention: Andrew J. Nussbaum, Esq. 
 Facsimile No.: (212) 403-2000

 (b) if to TripAdvisor: 
 TripAdvisor, Inc. 
 141 Needham Street 

Newton, MA 02464 
 Attention: Office of the General Counsel 
 Facsimile No.: (617) 670-6301

 7.5 Incorporation of Separation Agreement Provisions. The following provisions of the Separation Agreement are hereby
incorporated herein by reference, and unless otherwise expressly specified herein, such provisions shall apply as if fully set forth herein mutatis mutandis (references in this Section 7.5 to an “Article” or “Section” shall
mean Articles or Sections of the Separation Agreement, and references in the material incorporated herein by reference shall be references to the Separation Agreement): Article VII (relating to Mutual Releases; Indemnification); Article IX (relating
to Exchange of Information; Confidentiality); Article X (relating to Dispute Resolution); Article XI (relating to Further Assurances); Article XIII (relating to Sole Discretion of Expedia; Termination); and Article XIV (relating to Miscellaneous).

 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 -25-

 IN WITNESS WHEREOF, the Parties have caused this Employee Matters Agreement to be duly
executed as of the day and year first above written. 
  

			
	EXPEDIA, INC.
		
	By: 	 	 /s/ Mark D. Okerstrom

	Name:	 	Mark D. Okerstrom
	Title:	 	Executive Vice President and Chief Financial Officer
	
	TRIPADVISOR, INC.
		
	By: 	 	 /s/ Stephen Kaufer

	Name:	 	Stephen Kaufer
	Title:	 	President and Chief Executive Officer

  

 Schedule A 

 

							
	 #
	  	 Current Legal Entity
	 	 First Name
	 	 Last Name

	 1.
	  	TripAdvisor Consulting Service (Beijing) Co., Ltd.	 	[*]	 	[*]
	 2.
	  	TripAdvisor Consulting Service (Beijing) Co., Ltd.	 	[*]	 	[*]
	 3.
	  	TripAdvisor Consulting Service (Beijing) Co., Ltd.	 	[*]	 	[*]
	 4.
	  	TripAdvisor Consulting Service (Beijing) Co., Ltd. - Shanghai Branch	 	[*]	 	[*]
	 5.
	  	TripAdvisor Consulting Service (Beijing) Co., Ltd. - Shanghai Branch	 	[*]	 	[*]
	 6.
	  	TripAdvisor Consulting Service (Beijing) Co., Ltd. - Shanghai Branch	 	[*]	 	[*]
	 7.
	  	TripAdvisor Consulting Service (Beijing) Co., Ltd.	 	[*]	 	[*]
	 8.
	  	TripAdvisor Consulting Service (Beijing) Co., Ltd. - Shanghai Branch	 	[*]	 	[*]
	 9.
	  	TripAdvisor Consulting Service (Beijing) Co., Ltd. - Shanghai Branch	 	[*]	 	[*]
	 10.
	  	TripAdvisor Consulting Service (Beijing) Co., Ltd. - Shanghai Branch	 	[*]	 	[*]
	 11.
	  	TripAdvisor Consulting Service (Beijing) Co., Ltd. - Shanghai Branch	 	[*]	 	[*]
	 12.
	  	TripAdvisor Consulting Service (Beijing) Co., Ltd. - Shanghai Branch	 	[*]	 	[*]

 Schedule B 
 1. 
  

					
	 Current Legal Entity
	 	 First Name
	 	 Last Name

	 Expedia Korea Co., Ltd.
	 	[*]	 	[*]

 2. 
  

					
	 Current Legal Entity
	 	 First Name
	 	 Last Name

	 Expedia Australia Pty. Ltd.
	 	[*]	 	[*]Transition Services Agreement

 Exhibit 10.4 
 TRANSITION SERVICES AGREEMENT 
 by and between 

EXPEDIA, INC. 

and 

TRIPADVISOR, INC. 

DATED AS OF DECEMBER 20, 2011 

 TRANSITION SERVICES AGREEMENT 

This TRANSITION SERVICES AGREEMENT, dated as of December 20, 2011 (this “Services Agreement”), is entered into by
and between Expedia, Inc., a Delaware corporation (“Expedia”), and TripAdvisor, Inc., a Delaware corporation and wholly owned Subsidiary of Expedia (“TripAdvisor”). Capitalized terms used herein but not defined
herein shall have the meaning set forth in that certain Separation Agreement, dated as of the date hereof, by and between Expedia and TripAdvisor (the “Separation Agreement”). 

WHEREAS, the Board of Directors of Expedia has determined it is appropriate and desirable to separate Expedia and TripAdvisor into two
publicly-traded companies by separating the businesses comprising Expedia’s TripAdvisor media group from Expedia’s remaining businesses by way of Expedia and its Subsidiaries effecting the Separation Transactions, and thereafter effecting
a reclassification of the capital stock of Expedia; 
 WHEREAS, Expedia and TripAdvisor expect to enter into the Separation
Agreement on the date hereof, which sets forth, among other things, the assets, liabilities, rights and obligations of each of the Parties for purposes of effecting the separation of Expedia and TripAdvisor; and 

WHEREAS, in connection with such separation, (a) TripAdvisor desires to procure certain services from Expedia, and Expedia is
willing to provide such services to TripAdvisor, during a transition period commencing on the Effective Date, on the terms and conditions set forth in this Services Agreement; and (b) Expedia desires to procure certain services from
TripAdvisor, and TripAdvisor is willing to provide such services to Expedia, during a transition period commencing on the Effective Date, on the terms and conditions set forth in this Services Agreement. 

NOW THEREFORE, in consideration of the mutual agreements, covenants and other provisions set forth in this Services Agreement, the
Parties hereby agree as follows: 
 ARTICLE I 
 Definitions 
 1.01. All terms used herein and not defined herein
shall have the meanings assigned to them in the Separation Agreement. 
 ARTICLE II 

Agreement To Provide and Accept Services 
 2.01. Provision of Services. 
 (a) On the terms and subject to the
conditions contained herein, Expedia shall provide, or shall cause its Subsidiaries and Affiliates and their respective employees designated by Expedia (such designated Subsidiaries, Affiliates and employees, together with Expedia, being herein
collectively referred to as the “Expedia Service Providers”) to provide, to 

 
TripAdvisor, the services (“Expedia Services”) listed on the Schedule of Services agreed upon and exchanged between the Parties on the date hereof (the “Services
Schedule”) as being performed by Expedia. Subject to Section 3.01, any decisions as to which of the Expedia Service Providers (including the decisions to use third parties) shall provide the Expedia Services shall be made by
Expedia in its sole discretion, except to the extent specified in the Services Schedule. Each Expedia Service shall be provided in exchange for the consideration set forth with respect to such Expedia Service on the Services Schedule or as the
Parties may otherwise agree in writing. Each Expedia Service shall be provided and accepted in accordance with the terms, limitations and conditions set forth herein and on the Services Schedule. 

(b) On the terms and subject to the conditions contained herein, TripAdvisor shall provide, or shall cause its Subsidiaries and
Affiliates and their respective employees designated by it (such designated Subsidiaries, Affiliates and employees, together with TripAdvisor, being herein collectively referred to as the “TripAdvisor Service Providers” and together
with the Expedia Service Providers, the “Service Providers”) to provide, to Expedia the services (“TripAdvisor Services” and together with the Expedia Services, the “Services”) listed on the
Services Schedule as being performed by TripAdvisor. Subject to Section 3.01, any decisions as to which of the TripAdvisor Service Providers (including the decisions to use third parties) shall provide the TripAdvisor
Services shall be made by TripAdvisor in its sole discretion, except to the extent specified on the Services Schedule. Each TripAdvisor Service shall be provided in exchange for the consideration set forth with respect to such Service
on the Services Schedule or as the Parties may otherwise agree in writing. Each TripAdvisor Service shall be provided and accepted in accordance with the terms, limitations and conditions set forth herein and on the Schedule. 

(c) As used in this Services Agreement, the term “Receiving Party” shall mean the Party receiving Services. 

2.02. Books and Records; Availability of Information. Each Party shall create and maintain accurate books and records in
connection with the provision of the Services performed or caused to be performed by it and, upon reasonable notice from the other Party, shall make available for inspection and copy by such other Party’s agents such books and records during
reasonable business hours with such inspection occurring no more than one (1) time during the term in which the Service Provider has provided the applicable Service. Moreover, such inspection shall be conducted by the Receiving Party or its
agents in a manner that will not unreasonably interfere with the normal business operations of the Service Provider. Each Party shall make available on a timely basis to the Service Providers all information and materials reasonably requested by
such Service Providers to enable them to provide the Services. Each Receiving Party shall provide to the Service Providers reasonable access to such Receiving Party’s premises to the extent necessary for the purpose of providing the Services.

 ARTICLE III 
 Services; Payment; Independent Contractors 
 3.01. Services To Be
Provided. (a) Unless otherwise agreed by the Parties (including to the extent specified on the Services Schedule), (i) the Service Providers shall be required to 

  
 -2-

 
perform the Services only in a manner, scope, nature and quality as provided by or within Expedia that is similar in all material respects to the manner in which such Services were performed
immediately prior to the Effective Date, and (ii) the Services shall be used for substantially the same purposes and in substantially the same manner (including as to volume, amount, level or frequency, as applicable) as the Services have been
used immediately prior to the Effective Date; provided, however, that the Services Schedule shall control the scope of the Service to be performed (to the extent provided therein), unless otherwise agreed in writing. Each Party and the
Service Providers shall act under this Services Agreement solely as an independent contractor and not as an agent or employee of any other Party or any of such Party’s Affiliates. As an independent contractor, all overhead and personnel
necessary to the Services required of the Service Providers hereunder shall be the Service Provider’s sole responsibility and shall be at the Service Provider’s sole cost and expense. No Service Provider shall have the authority to bind
the Receiving Party by contract or otherwise. 
 (b) The provision of Services by Service Providers shall be subject to
Article V hereof. 
 (c) Each Party agrees to use its reasonable efforts to reduce or eliminate its dependency on
the Services as soon as is reasonably practicable; provided that a breach of this Section 3.01(c) shall not affect a Service Provider’s obligation to provide any Service through the term applicable to such Service.

 3.02. The Parties will use good-faith efforts to reasonably cooperate with each other in all matters relating to the
provision and receipt of Services. Such cooperation shall include obtaining all consents, licenses or approvals necessary to permit each Party to perform its obligations hereunder; provided, however, under no circumstances shall any
Service Provider be required to make any payments to any third party in respect of any such consents, licenses or approvals nor shall any Service Provider be required to make any alternative arrangements in the event that any such consents, licenses
or approvals are not obtained. 
 3.03. Additional Services. 

(a) From time to time during the term, each of Expedia and TripAdvisor may request the other Party (i) to provide additional
(including as to volume, amount, level or frequency, as applicable) or different services which the other Party is not expressly obligated to provide under this Agreement if such services are of the type and scope provided within Expedia during
fiscal year 2011 or (ii) expand the scope of any Service (such additional or expanded services, the “Additional Services”). The Party receiving such request shall consider such request in good faith and shall use commercially
reasonable efforts to provide such Additional Services; provided, no Party shall be obligated to provide any Additional Services if it does not, in its reasonable judgment, have adequate resources to provide such Additional Services or if the
provision of such Additional Services would interfere with the operation of its business. The Party receiving the request for Additional Services shall notify the requesting Party within fifteen (15) days as to whether it will or will not
provide the Additional Services. 
 (b) If a Party agrees to provide Additional Services pursuant to
Section 3.03(a), then a representative of each party shall in good faith negotiate the terms of a 

  
 -3-

 
supplement to the Services Schedule which will describe in detail the service, project scope, term, price and payment terms to be charged for the Additional Services. Once agreed to in writing,
the supplement to the Services Schedule shall be deemed part of this Services Agreement as of such date and the Additional Services shall be deemed “Services” provided hereunder, in each case subject to the terms and conditions of this
Agreement. 
 3.04. Payments. Except as may be set forth on the Services Schedule, statements will be delivered to
the Receiving Party within fifteen days after the end of each month by the Service Providers designated by each Party for Services provided to the Receiving Party during the preceding month, and each such statement shall set forth a brief
description of such Services, the amounts charged therefor, and, except as the Parties may agree or as set forth on the Services Schedule, such amounts shall be due and payable by the Receiving Party within thirty (30) days after the date of
such statement. Statements not paid within such 30-day period shall be subject to late charges, calculated at an interest rate per annum equal to the Prime Rate plus 2% (or the maximum legal rate, whichever is lower), and calculated for the actual
number of days elapsed, accrued from the date on which such payment was due up to the date of the actual receipt of payment. Payments shall be made by wire transfer to an account designated in writing from time to time by Service Provider.

 3.05. Payroll Transition. On or about December 30, 2011, Expedia shall, through Expedia payroll systems,
(a) pay TripAdvisor employees in respect of the December 12, 2011 to December 25, 2011 pay period (the “Final Pay Period”), (b) make contributions to the TripAdvisor 401(k) Plan on behalf of the TripAdvisor
employees in respect of the Final Pay Period, and (c) make any applicable withholdings, and pay any applicable payroll taxes relating to TripAdvisor employees in respect of such Final Pay Period. No later than January 31, 2012, Expedia
shall provide to TripAdvisor an invoice that sets forth the product (such product, the “Payroll Transition Amount”) obtained by multiplying (x) the aggregate amount of payments made pursuant to clauses (a) through
(c) of the immediately preceding sentence by (y) 35.71%. TripAdvisor shall remit to Expedia the Payroll Transition Amount no later than February 15, 2012. Expedia’s calculation of the Payroll Transition Amount pursuant to this
Section 3.05 shall be final and binding upon TripAdvisor. 
 3.06. Disclaimer of Warranty. EXCEPT AS
EXPRESSLY SET FORTH IN THIS SERVICES AGREEMENT, THE SERVICES TO BE PURCHASED UNDER THIS SERVICES AGREEMENT ARE FURNISHED AS IS, WHERE IS, WITH ALL FAULTS AND WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING ANY WARRANTY OF MERCHANTABILITY
OR FITNESS FOR ANY PARTICULAR PURPOSE. In the event that the provision of any Service for the account of a Receiving Party by a Service Provider conflicts with such Service Provider’s provision of such Service for its own account, priority for
the provision of such Service shall be allocated in an equitable manner on an aggregate basis, and in a manner consistent with the Receiving Party’s level of use of such Service during fiscal year 2011 up to the Effective Date (or as described
on the Services Schedule). 
 3.07. Taxes. In the event that any Tax is properly chargeable on the provision of
the Services as indicated on the Services Schedule, the Receiving Party shall be responsible for and shall pay the amount of any such Tax in addition to and at the same time as the Service fees. All Service fees and other consideration will be paid
free and clear of and without withholding or deduction for or on account of any Tax, except as may be required by law. 

  
 -4-

 3.08. Use of Services. The Receiving Party shall not, and shall cause its
Affiliates not to, resell any Services to any person whatsoever or permit the use of the Services by any person other than in connection with the conduct of the Receiving Party’s operations as conducted immediately prior to the Effective Date.

 ARTICLE IV 
 Term of Services 
 4.01. The provision of Services shall commence on
the Effective Date and shall terminate no later than twelve (12) months after the date hereof or as of the date indicated for each such Service on the Services Schedule; provided, however, that subject to the Services Schedule,
any Service may be cancelled or reduced in amount or any portion thereof by the Receiving Party upon ninety (90) days’ written notice thereof (or such other notice period if one is set forth for such Service on the Services Schedule)
subject to the requirement that the Receiving Party pay to the Service Provider the actual out-of-pocket costs incurred by the Service Provider, as well as the actual incremental internal costs incurred by the Service Providers, in each case
directly resulting from such cancellation (including employee severance and other termination costs), which out-of-pocket and internal costs shall be set forth in a written statement provided by the Service Provider to the Receiving Party;
provided, further, that such costs shall not exceed amounts payable hereunder in respect of the applicable Service for the ninety (90) days prior to such termination. The foregoing notwithstanding and subject to
Section 7.02, (i) a Service Provider may immediately terminate any individual Service provided to a Receiving Party in the event that the Receiving Party fails to make payments for such Service under Section 3.04 and has
not cured such failure within thirty (30) days of written notice of such failure from the Service Provider, and (ii) upon ninety (90) days’ written notice, the Service Provider may terminate any Service provided to the Receiving
Party at such time as the Service Provider no longer provides the same Service to itself for its own account. 
 4.02. In
the event a Receiving Party requests an extension of the term applicable to the provision of Services, such request shall be considered in good faith by the Service Provider. Any terms, conditions or costs or fees to be paid by the Receiving Party
for Services provided during an extended term will be on mutually acceptable terms. For the avoidance of doubt, under no circumstances shall a Service Provider be required to extend the term of provision of any Service if (i) the Service
Provider does not, in its reasonable judgment, have adequate resources to continue providing such Services, (ii) the extension of the term would interfere with the operation of the Service Provider’s business or (iii) the extension
would require capital expenditure on the part of the Service Provider or otherwise require the Service Provider to renew or extend any Contract with any third party. 
 4.03. Termination of Certain Agreements. Notwithstanding any provision to the contrary in the PSG Lodging Supply Services Agreement, between Expedia Partner Services Group Sarl and Expedia
Business Service (Beijing) Co., Ltd., effective July 1, 2010, (the “PSG Agreement”), Expedia and TripAdvisor shall terminate the PSG Agreement, such termination 

  
 -5-

 
effective no later than twelve (12) months after the date hereof. Notwithstanding any provision to the contrary in the Fulfillment Services Agreement, between Egencia LLC
(“Egencia”) and eLong, Inc. (“eLong”), dated as of January 1, 2009 (“FSA Agreement”), Egencia and eLong shall terminate the FSA Agreement, such termination effective no later than
(12) months after the date hereof. 
 ARTICLE V 

Force Majeure 
 5.01. The Service Providers shall not be liable for any expense, loss or damage whatsoever arising out of any interruption of Service or delay or failure to perform under this Services Agreement
that is due to acts of God, acts of a public enemy, acts of terrorism, acts of a nation or any state, territory, province or other political division thereof, changes in applicable law, fires, hurricanes, floods, epidemics, riots, theft, quarantine
restrictions, freight embargoes or other similar causes beyond the reasonable control of the Service Providers. In any such event, the Service Providers’ obligations hereunder shall be postponed for such time as its performance is suspended or
delayed on account thereof. Each Service Provider will promptly notify the recipient of the Service, either orally or in writing, upon learning of the occurrence of such event of force majeure. Upon the cessation of the force majeure event, such
Service Provider will use commercially reasonable efforts to resume, or to cause any other relevant Service Provider to resume, its performance with the least practicable delay (provided that, at the election of the applicable Receiving
Party, the applicable term for such suspended Services shall be extended by the length of the force majeure event). 
 ARTICLE
VI 
 Liabilities 
 6.01. Consequential and Other Damages. None of the Service Providers shall be liable to the Receiving Party with respect to this Services Agreement, whether in contract, tort (including
negligence and strict liability) or otherwise, for any special, indirect, incidental or consequential damages whatsoever (except, in each case, to the extent any such amount is paid to third parties by a Receiving Party or its Affiliates) which in
any way arise out of, relate to or are a consequence of, the performance or nonperformance by it hereunder or the provision of, or failure to provide, any Service hereunder, including with respect to loss of profits, business interruptions or claims
of customers. 
 6.02. Limitations of Liability. Subject to Section 6.03 hereof, the liability of any
Service Provider with respect to this Services Agreement or any act or failure to act in connection herewith (including, but not limited to, the performance or breach hereof), or from the sale, delivery, provision or use of any Service provided
under or covered by this Services Agreement, whether in contract, tort (including negligence and strict liability) or otherwise, shall be limited to actions or omissions resulting from intentional breach of this Services Agreement or gross
negligence, and, in any event, such liability shall not exceed the fees previously paid to such Service Provider under this Services Agreement. 

  
 -6-

 6.03. Obligation To Re-perform. In the event of any breach of this Services
Agreement by any Service Provider resulting from any error or defect in the performance of any Service (which breach such Service Provider can reasonably be expected to cure by re-performance in a commercially reasonable manner), the Service
Provider shall use its reasonable commercial efforts to correct in all material respects such error, defect or breach or re-perform in all material respects such Service upon receipt of the written request of the Receiving Party. 

6.04. Indemnity. Except as otherwise provided in this Service Agreement (including the limitation of liability provisions
in this Article VI), each Party shall indemnify, defend and hold harmless the other Party from and against any Liability arising out of the intentional breach hereunder or gross negligence of the Indemnifying Party or its Affiliates,
employees, agents, or contractors (including with respect to the performance or nonperformance of any Service hereunder). The procedures set forth in Sections 7.04 and 7.05 of the Separation Agreement shall apply to any claim for
indemnification hereunder. 
 ARTICLE VII 
 Termination 
 7.01. Termination. Notwithstanding anything
herein to the contrary, this Services Agreement shall terminate, and the obligation of the Service Providers to provide or cause to be provided any Service shall cease, on the earliest to occur of (i) the last date indicated for the termination
of any Service on the Services Schedule, as the case may be, (ii) the date on which the provision of all Services has been terminated or canceled pursuant to Article IV hereof, or (iii) the date on which this Services Agreement
is terminated by TripAdvisor or Expedia, as the case may be, in accordance with the terms of Section 7.02 hereof; provided that, in each case, no such termination shall relieve any Party of any liability for any breach of any
provision of this Services Agreement prior to the date of such termination. 
 7.02. Breach of Services Agreement;
Dispute Resolution. Subject to Article VI hereof, and without limiting a Party’s obligations under Section 4.01, if a Party shall cause or suffer to exist any material breach of any of its obligations under this
Services Agreement, including any failure to make a payment within thirty (30) days after receipt of the statement describing the Services provided for pursuant to Section 3.04 with respect to more than one Service provided
hereunder, and that Party does not cure such default in all material respects within 30 days after receiving written notice thereof from the non-breaching Party, the non-breaching Party shall have the right to terminate this Services Agreement
immediately thereafter. In the event a dispute arises between the Parties regarding the terms of this Services Agreement, such dispute shall be governed by Article X of the Separation Agreement. 

7.03. Sums Due. In addition to any other payments required pursuant to this Services Agreement, in the event of a
termination of this Services Agreement, the Service Providers shall be entitled to the immediate payment of, and the Receiving Party shall within three (3) Business Days, pay to the Service Providers, all accrued amounts for Services, Taxes and
other amounts due under this Services Agreement as of the date of termination. 

  
 -7-

 7.04. Effect of Termination. Section 2.02 hereof and
Articles V, VI, VII and VIII hereof shall survive any termination of this Services Agreement. 

ARTICLE VIII 
 Miscellaneous 
 8.01. Incorporation of Separation Agreement
Provisions. The provisions of Article XIV of the Separation Agreement are hereby incorporated herein by reference, and unless otherwise expressly specified herein, such provisions shall apply as if fully set forth herein. 

8.02. Ownership of Work Product. Subject to the terms of the Separation Agreement, (i) each Service Provider
acknowledges and agrees that it will acquire no right, title or interest (including any license rights or rights of use) to any work product resulting from the provision of Services hereunder for the Receiving Party’s exclusive use and such
work product shall remain the exclusive property of the Receiving Party and (ii) each Receiving Party acknowledges and agrees that it will acquire no right, title or interest (other than a non-exclusive, worldwide right of use) to any work
product resulting from the provision of Services hereunder that is not for the Receiving Party’s exclusive use and such work product shall remain the exclusive property, subject to license, of the Service Provider. 

  
 -8-

 IN WITNESS WHEREOF, the Parties have caused this Services Agreement to be executed by their
duly authorized representatives. 
  

			
	EXPEDIA, INC.
		
	By:	 	 /s/ Mark D. Okerstrom

	Name:	 	Mark D. Okerstrom
	Title:	 	 Executive Vice President &

Chief Financial Officer

	
	TRIPADVISOR, INC.
		
	By:	 	 /s/ Stephen Kaufer

	Name:	 	Stephen Kaufer
	Title:	 	President & Chief Executive Officer

 Expedia-TripAdvisor Schedules to Transition Services Agreement 

Final – December 20, 2011 
 Schedule 1 
 Knowledge Transfer 

Scope of Services: In the functional areas listed below, subject to the following limitations, Expedia personnel shall provide
reasonably requested knowledge transfer and general assistance to TripAdvisor personnel related to matters that occurred prior to the Effective Date. No information or assistance may be provided to the extent it would create a conflict of interest,
violate any confidentiality obligations, risk the loss of attorney-client privilege, expose Expedia to potential liability or otherwise interfere with the operation of Expedia’s business. TripAdvisor shall use all reasonable efforts to minimize
the extent of requested knowledge transfer and general assistance. 
 Term: 12 months 

 

					
	 Functional Area
	  	 Cost*
	  	 Related Functions

			
	Internal Audit	  	$100 per hour	  	
			
	Legal – Litigation	  	$150 per hour	  	
			
	Legal – Employment	  	$150 per hour	  	
			
	Legal – Corporate/Securities	  	$150 per hour	  	
			
	Legal – Software	  	Applicable access fee	  	 Expedia shall provide
  

(i)      access to Upside Contract Management software on an as-needed basis,
and
  

(ii)     access to TripAdvisor data from Expedia’s Serengeti Tracker e-billing
software system on an as-needed basis

			
	Executive Expertise	  	Per diem rate based on executive’s annual base salary	  	
			
	Treasury	  	$100 per hour	  	
			
	SEC and External Financial Reporting	  	$125 per hour	  	Expedia shall provide access to supporting documentation for S-4 and other materials filed with the SEC prior to the Effective Date
			
	Procurement/sourcing	  	None	  	Parties will coordinate strategic sourcing for the companies in a manner designed to optimize purchasing power and enhance cost savings

  

	*	In addition to per-hour charge, any out-of-pocket expenses will be charged to Receiving Party. 

  
 1 

 Expedia-TripAdvisor Schedules to Transition Services Agreement 

Final – December 20, 2011 
  

Schedule 2 
 Government Affairs Services 
 Scope of Services: Subject to
the limitations set forth below, Expedia shall provide reasonably requested Government Affairs Services to TripAdvisor. The type and scope of such services to be provided shall be generally consistent with the types of services provided within
Expedia immediately prior to the Effective Date, including: 
  

	 	•	 	 Monitoring of state, federal and international legislative developments in connection with the public policy interests of TripAdvisor, including, but
not limited to, anti-trust issues, review of competitive activities in the travel space, airline activities, regulations relating to the vacation rental market, ongoing review of international norms for online intermediaries, and guidance on
occupancy tax issues. 

  

	 	•	 	 Making lobbying contacts, with state, federal and international policymakers. 

 

	 	•	 	 Supervising and coordinating the activities of outside advisors in connection with government affairs activities. 

 

	 	•	 	 Advising TripAdvisor on political affairs strategy. 

  

	 	•	 	 Overseeing TripAdvisor’s trade association memberships and representing TripAdvisor in related matters. 

 

	 	•	 	 Assisting TripAdvisor in communicating with regulatory agencies and achieving regulatory compliance. 

No information or assistance may be provided to the extent it would create a conflict of interest, violate any confidentiality
obligations, risk the loss of attorney-client privilege, expose Expedia to potential liability or otherwise interfere with the operation of the provider’s business. 
 Service Provider; Limitations: For Governmental Affairs Services, the primary Service Provider at Expedia shall be [*], or his successor, and such Service Provider shall dedicate no more than 15%
of his time to the provision of services to TripAdvisor pursuant to this Agreement. 
 Term: 12 months. 

Early Termination: In the event of a change in the primary Service Provider (i.e., the departure of [*] from the employ of
Expedia), either Expedia or TripAdvisor shall be permitted to terminate all Government Affairs Services upon 90 days’ written notice. 
 Cost: Charges for Government Affairs Services shall accrue on a cost plus 5% basis, with cost calculated as 15% of the sum of [*]’s (or his successor’s) (x) salary, (y) bonus
target and (z) Expedia’s net cost of his benefits, (adjusted for any salary, bonus or benefits increases). In other words, the monthly charge will be equal to: 1/12 × (0.15 × ((base salary + target bonus + annualized cost of
benefits) × 1.05)). In addition, TripAdvisor shall be charged for any out-of-pocket expenses incurred in connection with the provision of services (e.g., travel costs). 

  

 Expedia-TripAdvisor Schedules to Transition Services Agreement 

Final – December 20, 2011 
  

Schedule 3 
 Legal Services – Intellectual Property & Domain Name Acquisition 
 Scope of Services: Subject to the limitations set forth below, Expedia shall provide TripAdvisor with reasonably requested assistance with regard to the legal aspects of its intellectual property
portfolio and in the acquisition of domain names, urls and similar properties. 
 No information or assistance may be provided
to the extent it would create a conflict of interest, violate any confidentiality obligations, risk the loss of attorney-client privilege, expose Expedia to potential liability or otherwise interfere with the operation of the provider’s
business. 
 Service Provider; Limitations: For these services, the primary Service Provider shall be [*] and such
primary Service Provider shall dedicate no more than 15% of her time to the provision of services to TripAdvisor pursuant to this Agreement. 
 Term: up to 12 months, as needed. 
 Early Termination: In the event
of a change in the primary Service Provider (i.e., the departure of [*] from the employ of Expedia), either Expedia or TripAdvisor shall be permitted to terminate all intellectual property-related legal services and domain name acquisition
services upon 90 days’ written notice. 
 Cost: Charges for intellectual property-related legal services and domain
name acquisition services shall accrue on a cost plus 5% basis, with cost calculated as 15% of the sum of [*]’s (x) salary, (y) bonus target and (z) Expedia’s net cost of her benefits, (adjusted for any salary, bonus
or benefits increases). In other words, the monthly charge will be equal to: 1/12 x (0.15 x ((base salary + target bonus + annualized cost of benefits) x 1.05)). In addition, TripAdvisor shall be charged for any out-of-pocket expenses incurred in
connection with the provision of services (e.g., travel costs). 

 Expedia-TripAdvisor Schedules to Transition Services Agreement 

Final – December 20, 2011 
  

Schedule 4 
 Legal Services – Privacy 
 Scope of Services: Subject to
the limitations set forth below, Expedia shall provide TripAdvisor with reasonably requested assistance with issues relating to privacy law. 
 No information or assistance may be provided to the extent it would create a conflict of interest, violate any confidentiality obligations, risk the loss of attorney-client privilege, expose Expedia to
potential liability or otherwise interfere with the operation of the provider’s business. 
 Service Provider;
Limitations: For these services, the primary Service Provider shall be [*] and such primary Service Provider shall dedicate no more than 10% of her time to the provision of services to TripAdvisor pursuant to this Agreement. 

Term: Up to 12 months, as needed. 
 Early Termination: In the event of a change in the primary Service Provider (i.e., the departure of [*] from the employ of Expedia), either Expedia or TripAdvisor shall be permitted to terminate
all privacy-related legal services upon 90 days’ written notice. 
 Cost: Charges for privacy-related legal services
shall accrue on a cost plus 5% basis, with cost calculated as 10% of the sum of [*]’s (x) salary, (y) bonus target and (z) Expedia’s net cost of her benefits, (adjusted for any salary, bonus or benefits increases). In other
words, the monthly charge will be equal to: 1/12 x (0.1 x ((base salary + target bonus + annualized cost of benefits) x 1.05)). In addition, TripAdvisor shall be charged for any out-of-pocket expenses incurred in connection with the provision of
services (e.g., travel costs). 

 Expedia-TripAdvisor Schedules to Transition Services Agreement 

Final – December 20, 2011 
  

Schedule 5 
 Legal Services – Corporate Secretarial 
 Scope of
Services: Subject to the limitations set forth below, Expedia shall provide TripAdvisor with reasonably requested assistance with corporate formation, organization and maintenance matters. 

Service Provider; Limitations: For these services, the primary Service Provider shall be [*] and such primary Service
Provider shall dedicate no more than 10% of his time to the provision of services to TripAdvisor pursuant to this Agreement. 

No information or assistance may be provided to the extent it would create a conflict of interest, violate any confidentiality
obligations, risk the loss of attorney-client privilege, expose Expedia to potential liability or otherwise interfere with the operation of the provider’s business. 
 Term: Up to 12 months, as needed. 
 Early Termination: In the event
of a change in the primary Service Provider (i.e., the departure of [*] from the employ of Expedia), either Expedia or TripAdvisor shall be permitted to terminate all corporate secretarial-related legal services upon 90 days’ written
notice. 
 Cost: Charges for corporate secretarial-related legal services shall accrue on a cost plus 5% basis, with cost
calculated as 10% of the sum of [*]’s (x) salary, (y) bonus target and (z) Expedia’s net cost of his benefits, (adjusted for any salary, bonus or benefits increases). In other words, the monthly charge will be equal
to: 1/12 x (0.1 x ((base salary + target bonus + annualized cost of benefits) x 1.05)). In addition, TripAdvisor shall be charged for any out-of-pocket expenses incurred in connection with the provision of services (e.g., travel costs and outside
vendor fees). 

 Schedule 6 

Tax and Transfer Pricing Services 
 Scope of Services: Subject to the limitations set forth below, Expedia shall make Expedia in-house tax personnel reasonably available to TripAdvisor, including outside consultants if needed, to
provide reasonably requested knowledge transfer and general assistance related to matters that occurred or information that may have been obtained concerning TripAdvisor prior to the Effective Date. In addition, tax services shall be provided as
follows: 
  

	 	•	 	 With respect to tax preparation and related matters concerning tax year 2011, the Tax Sharing Agreement entered into by and between the Parties of even
date herewith shall govern the responsibilities of the Parties. 

  

	 	•	 	 For any periods subsequent to tax year 2011, but not beyond the Term as stated below: 

 

	 	•	 	 Expedia in-house personnel shall provide to TripAdvisor consultative tax services, including consultative services related to historical transfer
pricing positions and customer requests regarding permanent establishment questions. 

  

	 	•	 	 Expedia in-house personnel shall prepare sales and occupancy tax returns through March 2012 for SmarterTravel, including in the states of New York and
South Carolina, provided, however, that TripAdvisor provides to such personnel appropriate supporting documentation and information in a timely manner. 

 

	 	•	 	 TripAdvisor Service Provider, [*], shall provide to Expedia consultative tax services. In the event of a change in the Service Provider (i.e., the
departure of [*] from the employ of TripAdvisor), either Expedia or TripAdvisor shall be permitted to terminate all services to Expedia upon 90 days’ written notice. 

Anything above to the contrary notwithstanding, nothing in this Schedule 6 shall be interpreted to in any way limit the Parties’
respective rights and obligations under the Tax Sharing Agreement and in the case of any conflict between the above provisions and any provision in the Tax Sharing Agreement, the Tax Sharing Agreement shall govern. 

No information or assistance may be provided to the extent it would create a conflict of interest, violate any confidentiality
obligations, risk the loss of attorney-client privilege, expose Expedia to potential liability or otherwise interfere with the operation of the provider’s business. Each party shall use reasonable efforts to minimize the extent of requested
knowledge transfer and assistance. 
 Cost: $125 per hour plus out-of-pocket expenses. 

Term: Up to 12 months, as needed. 

 Expedia-TripAdvisor Schedules to Transition Services Agreement 

Final – December 20, 2011 
  

Schedule 7 
 Finance and Accounting Services 
 Scope of Services: Subject
to the limitations set forth below, Expedia shall make Expedia in-house personnel reasonably available to TripAdvisor personnel to provide the specific services set forth below and to provide reasonably requested knowledge transfer and general
assistance related to matters that occurred or information that may have been obtained concerning TripAdvisor and its business during the period prior to the Effective Date. 
 With regard to specific services, Expedia shall assist TripAdvisor with: 
  

	 	•	 	 preparation and processing of certain journal entries and allocations related to the payroll accounting function; 

 

	 	•	 	 certain reconciliations, subledger maintenance procedures and systems conversion related to the fixed asset accounting function;

  

	 	•	 	 support during the conversion process related to the time and expense reporting function; 

 

	 	•	 	 standard setup, processing and maintenance, and assistance with systems conversion related to the accounts payable function; and

  

	 	•	 	 support for the accounts payable function for TripAdvisor’s Chinese entities. 

No information or assistance may be provided to the extent it would create a conflict of interest, violate any confidentiality
obligations, risk the loss of attorney-client privilege, expose Expedia to potential liability or otherwise interfere with the operation of Expedia’s business. TripAdvisor shall use reasonable efforts to minimize the extent of requested
knowledge transfer and assistance. 
 Cost: $85 per hour plus out-of-pocket expenses, which shall include vendor fees
charged to Expedia that relate to TripAdvisor processing (e.g., Concur fee related to TripAdvisor expense reports) 

Term: Up to 12 months, as needed. 

  
 2 

 Expedia-TripAdvisor Schedules to Transition Services Agreement 

Final – December 20, 2011 
  

Schedule 8 
 Financial Systems and Support Services 
 Scope of Services:
Subject to the limitations set forth below, Expedia shall make Expedia in-house personnel reasonably available to TripAdvisor personnel to provide services related to the systems conversion process as discussed below and to provide reasonably
requested knowledge transfer and general assistance related to matters that occurred or information that may have been obtained concerning TripAdvisor and its business during the period prior to the Effective Date. 

Expedia personnel will provide a reasonable level of assistance to TripAdvisor, and will facilitate the support of third-party software
providers, as reasonably required during the conversion to standalone TripAdvisor financial systems. During this financial systems conversion process, TripAdvisor will have access to TripAdvisor data in all accounting and related modules, including,
but not limited to, accounts receivable; accounts payable; fixed assets; period-end financial reporting, allocations and consolidation; global helpdesk; and planning and forecasting. 

No information or assistance may be provided to the extent it would create a conflict of interest, violate any confidentiality
obligations, risk the loss of attorney-client privilege, expose Expedia to potential liability or otherwise interfere with the operation of Expedia’s business. TripAdvisor shall use reasonable efforts to minimize the extent of requested
knowledge transfer and assistance. 
 Term: Up to 12 months, as needed. 

Cost: $85 per hour plus out-of-pocket expenses. 

  
 3 

 Expedia-TripAdvisor Schedules to Transition Services Agreement 

Final – December 20, 2011 
  

Schedule 9 
 Corporate Development Services 
 Scope of Services: Subject
to the limitations set forth below, Expedia shall make Expedia in-house personnel reasonably available to TripAdvisor personnel to provide reasonably requested knowledge transfer and general assistance related to matters that occurred or information
that may have been obtained concerning TripAdvisor and its business during the period prior to the Effective Date, including matters or information relating to any merger, acquisition or investment that was completed prior to the Effective Date.

 In addition, prior to March 31, 2012, upon the mutual written consent of the parties and on account of timing of the
in-progress build-out of the equivalent TripAdvisor function, personnel in Expedia’s Corporate Development group may provide assistance to TripAdvisor in connection with any potential merger, acquisition of assets or securities or investment in
a third party by TripAdvisor that may arise subsequent to the Effective Date. 
 No information or assistance may be provided to
the extent it would create a conflict of interest, violate any confidentiality obligations, risk the loss of attorney-client privilege, expose Expedia to potential liability or otherwise interfere with the operation of Expedia’s business.
TripAdvisor shall use reasonable efforts to minimize the extent of requested knowledge transfer and assistance. 
 Term:
Up to 12 months, as needed. 
 Cost: $150 per hour plus out-of-pocket expenses. 

  
 4 

 Expedia-TripAdvisor Schedules to Transition Services Agreement 

Final – December 20, 2011 
  

Schedule 10 
 Human Resources, Employment, Payroll and Benefits Services 
 A.
Scope of Services: Subject to the limitations set forth below, Expedia shall make Expedia in-house personnel reasonably available to TripAdvisor personnel to provide the specific services set forth below and to provide reasonably requested
knowledge transfer and general assistance related to matters that occurred or information that may have been obtained concerning TripAdvisor and its business during the period prior to the Effective Date, if requested information is available, or if
existing suppliers are not able to provide such information or assistance. 
 No information or assistance may be provided to
the extent it would create a conflict of interest, violate any confidentiality obligations or personally identifiable health information, risk the loss of attorney-client privilege, expose Expedia to potential liability or otherwise interfere with
the operation of Expedia’s business. 
 Human Resources, Employment, Payroll and Benefits Services: 

Payroll processing administration and training - Expedia will provide transition assistance with respect to payroll
administration and training as reasonably requested by TripAdvisor for up to 12 months, as needed. The cost will be the incremental cost, if any, of Expedia providing this service to TripAdvisor. 

US Benefits Administration - Hewitt will provide benefits administration and customer service for TripAdvisor participants
through December 31, 2011 under the existing Expedia relationship. There will be no additional charge for this service, the cost of which is included in the H&W Transition Period Amount (as defined in the Employee Matters Agreement).

 Employment Services - Continued coverage of TripAdvisor employees on the Expedia sponsored benefits under the
following benefits plans until such time that such employees can be moved on to new TripAdvisor benefits plans: Australia (Colonial First State and Financial Keys); China (Ping’an); and Hong Kong, Japan, Singapore and South Korea (HTH
Worldwide). The cost will be equal to the actual cost incurred by Expedia in respect of covering the relevant TripAdvisor employees. The service will be provided for no longer than 12 months. 

Cost: $85 per hour plus out-of-pocket expenses. 

  
 5 

 Expedia-TripAdvisor Schedules to Transition Services Agreement 

Final – December 20, 2011 
  

Term: Up to 12 months, as needed. 
 B. Scope of Services: Subject to the terms set forth below, the entity currently known as TripAdvisor Consulting Services (Beijing) Co., Ltd. (the “Beijing Entity”), shall provide
services to Expedia in accordance with past practice in respect of the Partner Services Group and Egencia businesses as described below. The specific services provided to Expedia by the Beijing Entity relating to the Partner Services Group
(“PSG”) shall be provided pursuant to the terms of the PSG Agreement. 
 No information or assistance may be
provided to the extent it would create a conflict of interest, violate any confidentiality obligations, risk the loss of attorney-client privilege, expose TripAdvisor to potential liability or otherwise interfere with the operation of
TripAdvisor’s business. 
 Cost: 
 PSG-related Services - Costs in respect of PSG-related services, including balances accrued as of the Effective Date, and payment in respect of such costs and balances shall be governed by
the PSG Agreement; provided that, for the avoidance of doubt, the reference to “employee benefits” in the definition of Direct Costs in Section 1 of the PSG Agreement shall include any severance costs. 

Egencia-related Services - 
 Service Fee. As consideration for the services provided by the Beijing Entity relating to Expedia’s Egencia business, Expedia shall pay the Beijing Entity or its Affiliate an amount (the
“Egencia Service Fee”) equal to: 
 (i) 100% of the Beijing Entity’s Direct and Indirect
Costs, plus 
 (ii) 100% of the Beijing Entity’s Third Party Costs, plus 

(iii) 100% of any net foreign exchange loss realized or unrealized by the Beijing Entity, less 

(iv) 100% of any net foreign exchange gain realized or unrealized by the Beijing Entity, less 

(v) 100% of any income realized by the Beijing Entity. 

Subsections (i) to (v) above shall be included in the Egencia Service Fee calculation only to the extent that they are
attributable to Egencia-related services provided by the Beijing Entity. 

  
 6 

 Expedia-TripAdvisor Schedules to Transition Services Agreement 

Final – December 20, 2011 
  

Service Fee Exclusions. The Service Fee excludes the following items: (i) interest income or expense recognized or incurred by
the Beijing Entity; (ii) any income taxes incurred by the Beijing Entity; and (iii) any costs ordinarily categorized under U.S. Generally Accepted Accounting Principles as “non-operating income/expenses.” 

Certain Defined Terms: Capitalized terms used under the heading “Egencia-related Services” in this Section B and used in
Section C of this Services Schedule 10 that are not otherwise defined shall have the meanings set forth below. 

“Direct Costs” means all direct costs incurred by the Service Provider that are (i) attributable to
the employees directly engaged in performing the Service Provider’s duties as described in the applicable section of this Services Schedule 10, including without limitation all salaries, wages, compensation, and employee benefits (including
severance) directly allocated to such employees; and (ii) all costs attributable to the materials and supplies consumed in rendering such services. 
 “Indirect Costs” means any indirect costs that relate to the Direct Costs including, without limitation, an allocable portion of occupancy costs, utilities, supervisory and clerical
support, and other overhead, general, and administrative costs (e.g., depreciation) reasonably allocable to the Service Provider’s duties under the applicable section of this Services Schedule 10. 

“Third Party Costs” means all costs incurred by the Service Provider for services performed by third
parties in respect of the services described in the applicable section of this Services Schedule 10 including, but not limited to, marketing or advertising agencies and professional services firms. 

Term: Up to 12 months, as need. 
 C. Scope of Services: Subject to the terms set forth below, the individuals listed on Schedule B of the Employee Matters Agreement (“Schedule B Employees”) shall provide services
to TripAdvisor in accordance with past practices until the employment by Expedia of each Schedule B Employee is terminated (such period of time in respect of each Schedule B Employee, the “Schedule B Transition Period”). 

No information or assistance may be provided to the extent it would create a conflict of interest, violate any confidentiality
obligations or personally identifiable health information, risk the loss of attorney-client privilege, expose Expedia to potential liability or otherwise interfere with the operation of Expedia’s business. 

  
 7 

 Expedia-TripAdvisor Schedules to Transition Services Agreement 

Final – December 20, 2011 
  

Cost: 

Service Fee. As consideration for the services provided by the Schedule B Employees to TripAdvisor, TripAdvisor shall pay Expedia
an amount (the “Schedule B Service Fee”) equal to: 
 (i) 108% of the Direct and Indirect Costs
arising from the services provided by the Schedule B Employees to TripAdvisor during the Schedule B Transition Period, plus 
 (ii) 100% of the Third Party Costs arising from the services provided by the Schedule B Employees to TripAdvisor during the Schedule B Transition Period, plus 

(iii) 100% of any net foreign exchange loss realized or unrealized arising from the services provided by the Schedule B
Employees to TripAdvisor during the Schedule B Transition Period, less 
 (iv) 100% of any net foreign exchange
gain realized or unrealized arising from the services provided by the Schedule B Employees to TripAdvisor during the Schedule B Transition Period. 
 Service Fee Exclusions. The Schedule B Service Fee excludes the following items: (i) interest income or expense recognized or incurred in respect of the employment by Expedia of the Schedule B
Employees; (ii) any income taxes incurred in respect of the employment by Expedia of the Schedule B Employees; and (iii) any costs ordinarily categorized under U.S. Generally Accepted Accounting Principles as “non-operating
income/expenses.” 
 Term: Up to 12 months, as needed. 

D. Scope of Services: Amounts owed by Egencia to eLong pursuant to the terms of the FSA Agreement, including balances accrued as
of the Effective Date, and payment in respect of such liabilities and balances shall be governed by the FSA Agreement. 
 No
information or assistance may be provided to the extent it would create a conflict of interest, violate any confidentiality obligations, risk the loss of attorney-client privilege, expose Expedia to potential liability or otherwise interfere with
the operation of Expedia’s business. 

  
 8 

 Expedia-TripAdvisor Schedules to Transition Services Agreement 

Final – December 20, 2011 
  

Schedule 11 
 Real Estate Services 
 Scope of Services: Subject to the limitations
set forth below, Expedia shall make Expedia in-house personnel reasonably available to TripAdvisor personnel to advise and consult regarding specific real estate transactions and to provide reasonably requested knowledge transfer and general
assistance related to matters that occurred or information that may have been obtained concerning TripAdvisor and its business during the period prior to the Effective Date. 
 No information or assistance may be provided to the extent it would create a conflict of interest, violate any confidentiality obligations, risk the loss of attorney-client privilege, expose Expedia to
potential liability or otherwise interfere with the operation of Expedia’s business. TripAdvisor shall use reasonable efforts to minimize the extent of requested knowledge transfer and assistance. 

Term: Up to 12 months, as needed. 
 Cost: $125 per hour plus out-of-pocket expenses. 

  
 9 

 Expedia-TripAdvisor Schedules to Transition Services Agreement 

Final – December 20, 2011 
  

Schedule 12 
 China ICP Hosting Services 
 Scope of Services: Subject to
the limitations set forth below, TripAdvisor, through a Chinese subsidiary, will continue to host ICP licenses, whether currently held or subsequently obtained, for use by Expedia as needed to carry out Expedia’s operations in China until the
earlier of the end of the Term stated below or the date on which Expedia secures such licenses through its own Chinese entity or entities. 
 No information or assistance may be provided to the extent it would create a conflict of interest, violate any confidentiality obligations, risk the loss of attorney-client privilege, expose either Party
to potential liability or otherwise interfere with the operation of either Party’s business. 
 Term: Up to 12
months, as needed. 
 Cost: TripAdvisor may charge Expedia an access fee based upon the cost of the relevant ICP
licenses. In addition, Expedia shall be charged for its pro rata share of any out-of-pocket expenses incurred in connection with obtaining or maintaining the relevant ICP licenses. 

  
 10 

 Expedia-TripAdvisor Schedules to Transition Services Agreement 

Final – December 20, 2011 
  

Schedule 13 
 Shanghai Office Space 
 Scope of Services: Subject to the
limitations set forth below, Expedia shall continue to make available office space in its Shanghai office for one employee of TripAdvisor until the earlier of the end of the Term stated below or the date on which such TripAdvisor employee no longer
requires such office space. 
 No information or assistance may be provided to the extent it would create a conflict of
interest, violate any confidentiality obligations, risk the loss of attorney-client privilege, expose either Party to potential liability or otherwise interfere with the operation of either Party’s business. 

Term: Up to 12 months, as needed. 
 Cost: Expedia may charge TripAdvisor a fee based upon the cost of the relevant office space. 

  
 11 

 Expedia-TripAdvisor Schedules to Transition Services Agreement 

Final – December 20, 2011 
  

Schedule 14 
 Intercompany Balance 
 Scope of Services: Subject to the
limitations set forth below, each Party shall use commercially reasonable efforts and exchange such information as is necessary to settle the intercompany balance that exists as of the Effective Date. This intercompany balance resulted from the
payment of certain expenses by Expedia on behalf of TripAdvisor related to the startup of TripAdvisor’s operations in India. 
 No information or assistance may be provided to the extent it would create a conflict of interest, violate any confidentiality obligations, risk the loss of attorney-client privilege, expose either Party
to potential liability or otherwise interfere with the operation of either Party’s business. 
 Term: Up to 12
months, as needed. 
 Cost: Expedia may seek reimbursement from TripAdvisor for any third-party fees paid by Expedia in
connection with such settlement. 

  
 12

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