SEC Contract Filing

Filing Date: 2020-05-08

Document Content:
<DOCUMENT>
<TYPE>EX-10.9
<SEQUENCE>9
<FILENAME>trip-ex109_212.htm
<DESCRIPTION>EX-10.9
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<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;font-style:italic;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;text-indent:7.69%;"><font style="margin-left:36pt;"></font>&nbsp;</p>
<p style="text-align:right;margin-bottom:18pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Exhibit 10.9</p>
<p style="text-align:center;margin-bottom:18pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">SECOND AMENDMENT TO EMPLOYMENT AGREEMENT</font></p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">THIS SECOND AMENDMENT TO EMPLOYMENT AGREEMENT (&#8220;Amendment&#8221;) is entered into by and between Ernst Teunissen (&#8220;Executive&#8221;) and Tripadvisor, LLC, a Delaware limited liability company (the &#8220;Company&#8221;), and is effective as of May 8, 2020 (the &#8220;Effective Date&#8221;).</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS, the Company and the Executive previously entered into an Employment Agreement effective as of November 9, 2015, as amended effective as of November 28, 2017 (the &#8220;Agreement&#8221;), to establish the terms and conditions of the Executive&#8217;s employment with the Company. </p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS, the Company and Executive desire to amend the Agreement as set forth below.&nbsp;&nbsp;</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">NOW, THEREFORE, in consideration of the mutual agreements hereinafter set forth, Executive and the Company have agreed and do hereby agree as follows:</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.<font style="margin-left:36pt;"></font>The Agreement is hereby amended to extend the term of the Agreement and to replace Section 2A of the Agreement in its entirety with the following: </p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;2A.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">TERM OF AGREEMENT</font>.&nbsp;&nbsp;The term (the &#8220;Term&#8221;) of this Agreement shall commence on the Effective Date and shall continue through May 31, 2022, unless sooner terminated in accordance with the provisions of Section 1 of the Standard Terms and Conditions attached hereto.&#8221; </p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.<font style="margin-left:36pt;"></font>The Agreement is hereby amended by amending Section 3A and adding the following: </p>
<p style="margin-bottom:12pt;margin-top:0pt;margin-left:7.69%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;(e)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">TARGET PAYMENT</font>.&nbsp;&nbsp;Subject to the terms and conditions of this Agreement, Executive shall be entitled to receive the Target Payment, the amount of which is to be determined and paid as set forth herein.&nbsp;&nbsp;</p>
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<p style="margin-bottom:0pt;margin-top:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(i)</font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">The Target Payment shall equal $7,000,000.00 less the Current Value, determined as of the Calculation Date, whereby:</p></td></tr></table></div>
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