Chris Hayek<\/p>\n
Senior Vice President & Chief Accounting Officer<\/p>\n
Dear Chris:<\/p>\n
Congratulations on your recent promotion to Senior Vice President & Chief 1. Your base salary shall be increased to one hundred and eighty thousand 2. Your bonus target shall be thirty percent (30%) of your then-in-effect 3. You shall receive seven thousand, five hundred (7,500) Restricted Stock 4. In the event your employment is terminated by the Company for reasons 5. Your employment by the Company is on an “at will” basis. This Agreement 6. Section 409A of the Internal Revenue Code<\/u>. This Agreement is not If you agree to the terms of this Agreement, please sign and date the Very truly yours,<\/p>\n<\/td>\n<\/tr>\n TREE.COM, INC.<\/p>\n<\/td>\n<\/tr>\n By:<\/p>\n<\/td>\n \/s\/ Claudette Hampton<\/p>\n<\/td>\n<\/tr>\n Title:<\/p>\n<\/td>\n SVP, Human Resources<\/p>\n<\/td>\n<\/tr>\n AGREED, this 29th day of June 2010.<\/p>\n<\/td>\n Sign Name:<\/p>\n<\/td>\n \/s\/ Christopher Hayek<\/p>\n<\/td>\n
\nAccounting Officer. In relation thereto and in consideration of the mutual
\npromises contained herein and for other good and valuable consideration, the
\nreceipt and sufficiency of which are hereby acknowledged, Tree.com, Inc.
\n(“Company<\/strong>“) and you hereby agree as follows
\n(“Agreement<\/strong>“):<\/p>\n
\ndollars ($180,000), effective as of May 28, 2010. This shall be paid in
\naccordance with the Company153s normal payroll practices and schedule.<\/p>\n
\nbase salary at the time bonuses are calculated.<\/p>\n
\nUnits (“RSUs”<\/strong>) subject to the provisions of the Second Amended
\nand Restated Tree.Com, Inc. 2008 Stock and Annual Incentive Plan
\n(“Plan<\/strong>“). The date of the RSU grant shall be June 28, 2010 and
\nthe grant will have an annual vesting schedule with one third vested on each
\nanniversary of the date of the grant. In the event of a conflict between this
\nletter agreement and the RSU award, the terms set forth in the award agreement
\nand plan should control.<\/p>\n
\nother than cause or substandard performance, the Company will pay severance to
\nyou in an amount equal to your monthly base salary then in effect for a period
\nof six (6) months after your termination date. Receiving this severance pay is
\ncontingent upon your signing and not revoking the appropriate release document
\nprovided by Company. This severance will be paid on regularly scheduled pay
\ndates and will be discontinued should you find other employment. If your benefit
\nunder the Company153s normal severance plan in effect at the time is greater due
\nto your length of service you will be eligible to receive the greater severance
\namount.<\/p>\n
\ndoes not create an employment contract or affect the right of the Company to
\nterminate your employment, or change the terms and conditions of such
\nemployment, at any time without notice.<\/p>\n
\nintended to constitute a “nonqualified deferred compensation plan” within the
\nmeaning of Section 409A of the Internal Revenue Code of 1986, as amended, and
\nthe rules and regulations issued thereunder (“Section 409A”<\/strong>).
\nNotwithstanding the foregoing, if this Agreement or any benefit paid to you
\nhereunder is subject to Section 409A and if you are a “Specified Employee” (as
\ndefined under Section 409A) as of the date of your termination of employment
\nhereunder, then the payment of such benefits, if any, scheduled to be paid
\nhereunder during the first six (6) month period beginning on the date of a
\ntermination of employment hereunder shall be delayed during such six (6) month
\nperiod and shall commence immediately following the end of such six (6) month
\nperiod (and, if applicable, the period in which such payments were scheduled to
\nbe made if not for such delay shall be extended accordingly). In no event shall
\nthe Company be required to pay any “gross-up” or other payment with respect to
\nany taxes or penalties imposed under Section 409A with respect to any benefit
\npaid hereunder.<\/p>\n
\nenclosed copy and return it to the undersigned at the above address. By signing
\nthis Agreement, you represent and agree that you have taken advantage of your
\nright to consult with an attorney or have declined to do so, that you have
\ncarefully read and fully understand all of the provisions of this Agreement and
\nthat you are voluntarily entering into this Agreement.<\/p>\n\n\n
\n \n<\/td>\n \n \n \n<\/td>\n \n<\/td>\n<\/tr>\n \n \n<\/td>\n \n \n \n<\/td>\n \n<\/td>\n \n<\/td>\n<\/tr>\n \n \n<\/td>\n \n<\/td>\n \n<\/td>\n<\/tr>\n \n \n<\/td>\n \n \n<\/td>\n<\/tr>\n \n \n<\/td>\n \n \n \n<\/td>\n \n<\/td>\n \n<\/td>\n<\/tr>\n \n \n<\/td>\n \n \n<\/td>\n<\/tr>\n \n \n<\/td>\n \n \n \n<\/td>\n \n<\/td>\n \n<\/td>\n<\/tr>\n \n \n<\/td>\n \n<\/td>\n \n<\/td>\n<\/tr>\n \n \n \n<\/td>\n \n<\/td>\n<\/tr>\n \n \n<\/td>\n \n<\/td>\n \n<\/td>\n<\/tr>\n \n \n \n \n<\/td>\n \n<\/td>\n<\/tr>\n \n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p><\/p>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[9104],"corporate_contracts_industries":[],"corporate_contracts_types":[9539],"class_list":["post-39483","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-treecom-inc","corporate_contracts_types-compensation"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/39483","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=39483"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=39483"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=39483"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=39483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}