January 14, 2009 Mike Long 3 Stegner Lane Austin, Texas 78746 Re: Employment Agreement Dear Mike:
EXHIBIT 10.29
January 14, 2009
Xxxx Xxxx
0 Xxxxxxx Xxxx
Xxxxxx, Xxxxx 00000
0 Xxxxxxx Xxxx
Xxxxxx, Xxxxx 00000
Dear Xxxx:
This letter agreement (the “Letter Agreement”) amends and modifies the terms of the employment
agreement entered into between you and Move, Inc. (f/k/a Xxxxxxxxx.xxx, Inc.) dated March 6, 2002
(the “Employment Agreement”) as follows.
The following language shall be added to the end of Section 8.(b) of the Employment Agreement:
“During the period in which you receive the Cash Severance, you shall be entitled to also
receive the benefits set forth in Section 4(d) of this agreement. In addition, in the event
of your Involuntary Termination, Termination for Death or Disability, or Termination without
Cause, subject to your execution (or the execution by your executor or personal
representative in the case of your death) of the acknowledgment and release attached as
Exhibit A, and your continued cooperation with the Company as directed by the Board of
Directors up to such termination, all Company stock options granted to you shall be
exercisable for a period of three (3) years after the final payment of the Cash Severance;
provided, however, that the Options described in Section 5 of this agreement shall be
exercisable until their expiration as set forth in Section 5.”
Except as specifically stated in this Letter Agreement, all of the terms and conditions of the
Employment Agreement remain in full force and effect. Any capitalized terms not defined herein are
as defined in the Employment Agreement.
Please indicate your agreement with the foregoing terms by signing and returning this Letter
Agreement to me.
Thank you.
Best regards, |
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By: | /s/ Xxx Xxxxxxx | |||
Xxx Xxxxxxx | ||||
Chairman of the Board Move, Inc. |
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AGREED AND ACCEPTED: |
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By: | /s/ W. Xxxxxxx Xxxx | |||
W. Xxxxxxx Xxxx | ||||