SEC Contract Filing

Filing Date: 2017-11-22

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>a17-27428_1ex10d1.htm
<DESCRIPTION>EX-10.1
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit&nbsp;10.1</font></b><a name="Exhibit10_1_082100"></a></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">EMPLOYMENT AGREEMENT</font></u></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">THIS EMPLOYMENT AGREEMENT (&#147;Agreement&#148;) is entered into by and between Joseph Levin (&#147;Executive&#148;) and IAC/InterActiveCorp, a Delaware corporation (the &#147;Company&#148;), and is effective November&nbsp;21, 2017 (the &#147;Effective Date&#148;).</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WHEREAS, the Company desires to establish its right to the services of Executive, in the capacity described below, on the terms and conditions hereinafter set forth, and Executive is willing to accept such employment on such terms and conditions.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">NOW, THEREFORE, in consideration of the mutual agreements hereinafter set forth, Executive and the Company have agreed and do hereby agree as follows:</font></p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1A.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>EMPLOYMENT</u>.&#160; During the Term (as defined below), the Company shall employ Executive, and Executive shall be employed, as Chief Executive Officer of the Company.&#160; During Executive&#146;s employment with the Company, Executive shall do and perform all services and acts necessary or advisable to fulfill the duties and responsibilities as are commensurate and consistent with Executive&#146;s position and shall render such services on the terms set forth herein.&#160; During Executive&#146;s employment with the Company, Executive shall report directly to (a)&nbsp;the Chairman and Senior Executive of the Company, so long as Barry Diller holds those positions, or (b)&nbsp;if Mr.&nbsp;Diller ceases to service as Chairman and Senior Executive of the Company, to the Board of Directors of the Company (the &#147;Board&#148;) (clauses (a)&nbsp;and (b)&nbsp;hereinafter referred to as the &#147;Reporting Officer&#148;).&#160; Executive shall have such powers and duties with respect to the Company as may reasonably be assigned to Executive by the Reporting Officer, to the extent consistent with Executive&#146;s position.&#160; Executive agrees to devote all of Executive&#146;s working time, attention and efforts to the Company and to perform the duties of Executive&#146;s position in accordance with the Company&#146;s policies as in effect from time to time. Executive may (i)&nbsp;participate in civic and charitable activities and, with the consent of the Reporting Officer, corporate boards of directors unrelated to the Company and (ii)&nbsp;manage his and his immediate family&#146;s personal investments, so long as such activities do not conflict with or interfere with Executive&#146;s performance of his duties hereunder or compete with or present an actual or apparent conflict of interest for the Company, which shall be determined by the General Counsel of IAC in his/her good faith judgment. Executive&#146;s principal place of employment shall be at the Company&#146;s offices located in New York, New York.</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2A.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>TERM</u>.&#160; The term of this Agreement shall be three (3)&nbsp;years from the Effective Date (the &#147;Initial Term&#148;); <u>provided</u>, <u>however</u>, that certain terms and conditions herein may specify a greater period of effectiveness.&#160; On the third anniversary of the Effective Date and on each anniversary of the Effective Date thereafter, the term shall be extended for successive one year terms automatically (each successive one year renewal term together with the Initial Term, the &#147;Term&#148;), unless either party hereto shall provide written notice to the other party not less than 90&nbsp;days prior to the end of the applicable Term that it does not wish to renew this Agreement (a &#147;Notice of Non-Renewal&#148;). Notwithstanding any other provision of this Agreement to the contrary, Executive&#146;s employment with the Company is &#147;at-will&#148; and may be terminated at any</p>
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