ServiceMagic 2010 Annual Report Download - page 146

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3A. COMPENSATION .
(a) BASE SALARY . During the period that Executive is employed with the Company hereunder, the Company shall pay
Executive an annual base salary (the “Base Salary”), payable in equal biweekly installments (or, if different, in accordance with the Company’s
payroll practice as in effect from time to time). The Base Salary may be increased from time to time in the discretion of the Compensation and
Human Resources Committee of the Company (the “Compensation Committee”). For all purposes under this Agreement, the term “Base
Salary” shall refer to the Base Salary as in effect from time to time.
(b) DISCRETIONARY BONUS AND EQUITY AWARDS . During the period that Executive is employed with the Company
hereunder, Executive shall be eligible to receive discretionary annual bonuses and equity awards.
(c) BENEFITS . From the Effective Date through the date of termination of Executive’s employment with the Company for any
reason, Executive shall be entitled to participate in any welfare, health and life insurance, pension benefit and incentive programs as may be
adopted from time to time by the Company on the same basis as that provided to similarly situated employees of the Company. Without limiting
the generality of the foregoing, Executive shall be entitled to the following benefits:
(i) Reimbursement for Business Expenses . During the period that Executive is employed with the Company hereunder,
the Company shall reimburse Executive for all reasonable and necessary expenses incurred by Executive in performing Executive’s
duties for the Company, on the same basis as similarly situated employees and in accordance with the Company’s policies as in effect
from time to time.
(ii) Vacation . During the period that Executive is employed with the Company hereunder, Executive shall be entitled to
paid vacation each year, in accordance with the plans, policies, programs and practices of the Company applicable to similarly situated
employees of the Company generally.
4A. NOTICES . All notices and other communications under this Agreement shall be in writing and shall be given by first-class mail,
certified or registered with return receipt requested, or by hand delivery, or by overnight delivery by a nationally recognized carrier, in each case
to the applicable address set forth below, and any such notice is deemed effectively given when received by the recipient (of if receipt is refused
by the recipient, when so refused):
Either party may change such party’s address for notices by notice duly given pursuant hereto.
2
If to the Company:
IAC/InterActiveCorp
555 West 18
Street, 6
Floor
New York, NY 10011
Attention: SVP and General Counsel
If to Executive:
At the most recent address for Executive on record at the Company.
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