Re: Severance AgreementSeverance Agreement • February 3rd, 2020 • Care.com Inc • Services-personal services • Massachusetts
As you are aware, Care.com, Inc. (the “Company”) has entered into that certain Agreement and Plan of Merger (the “Merger Agreement”), dated December 20, 2019, with IAC/InterActiveCorp (“IAC”), pursuant to which the Company will become a wholly owned subsidiary of IAC (the consummation of the transactions contemplated by the Merger Agreement, the “Closing”). You and the Company are parties to an Executive Severance Agreement (the “Severance Agreement”), dated July 19, 2017, and a Transition Agreement (the “Transition Agreement” and, together with the Severance Agreement, the “Existing Agreements”), dated August 6, 2019. As IAC and the Company move toward the Closing, the Company desires to set forth and clarify the effectiveness and obligations under the Existing Agreements as well as offer you certain benefits, the terms of which are contained in this letter agreement (the “Letter Agreement”):
