SEC Contract Filing

Filing Date: 2019-02-21

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex-101.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
	<head>
 <!-- Document created using Wdesk 1 -->
 <!-- Copyright 2019 Workiva -->
 <title>Exhibit</title>
	</head>
	<body style="font-family:Times New Roman;font-size:10pt;">
<div><a name="s0db6f21dd096467ba048910b15f25883"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit 10.1</font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">EXECUTIVE DEPARTURE AGREEMENT AND RELEASE</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">This Executive Departure Agreement and Release (&#8220;Agreement&#8221;) is made and entered into by and between Spencer M. Rascoff (&#8220;Executive&#8221;) and Zillow Group, Inc.</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">&#32;</font><font style="font-family:inherit;font-size:12pt;">(the &#8220;Company&#8221;), hereinafter collectively referred to as the &#8220;Parties.&#8221;</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:center;padding-left:48px;font-size:13pt;"><font style="font-family:inherit;font-size:13pt;font-weight:bold;">RECITALS</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:12pt;">A.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">WHEREAS, on or about September 2010, the Company appointed Executive to the position of Chief Executive Officer (&#8220;CEO&#8221;) of the Company, and on or about May&#160;20, 2011, the Company and Executive entered into an Executive Employment Agreement, restating Executive&#8217;s appointment to the position of Chief Executive Officer (the &#8220;Employment Agreement&#8221;);</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:12pt;">B.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">WHEREAS, Executive has also served as a member of the Board of Directors of the Company (the &#8220;Board&#8221;) since July 2011;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">&#32;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:12pt;">C.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">WHEREAS, Executive has provided the Company with notice of his resignation from the position of CEO of the Company; </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:12pt;">D.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">WHEREAS, the Company desires to recognize Executive&#8217;s leadership and performance during his tenure as CEO as well as his role as a co-founder of the Company; and</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">E.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">WHEREAS, in light of Executive&#8217;s contributions to the Company, the Parties wish to end the employment relationship amicably and to enter into certain covenants below, to provide assurances and peace of mind to each Party; </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:12pt;">NOW, THEREFORE, in consideration of the Recitals and the mutual promises, covenants, and agreements set forth herein, the receipt and sufficiency of which are hereby acknowledged, the Parties covenant and agree as follows:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">1. </font><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">SEPARATION FROM EMPLOYMENT</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">1.1</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Separation from Employment</font><font style="font-family:inherit;font-size:12pt;">. Executive&#8217;s resignation from the position of CEO of the Company will take effect on February 21, 2019, immediately after the fil